How El Nino Will Affect the Housing Market.
Why this Fall 2015 may be the best time to sell your home in Newport Beach before the predicted El Nino rains arrive.
Why is this Fall even more important to list your home than any other time within the next twelve months? El Nino! If weather prediction models come true, which we have been hearing for the last several months, it’s going to be a wet Winter and Spring. What does this mean for you if you are considering selling your home in California? Most likely, based on the previous El Nino’s effects on the market, it’s going to be a soggy sales season.
Having surveyed several seasoned Realtors in Newport Beach about the last El Nino, the majority said it was horrible for sales. They were unable to hold any open houses due to the rains for about eight to ten weeks during the Spring selling season. Both buyers and sellers were unwilling to venture out to look at or show their homes. The El Nino threw off everyone’s volume of units sold.
Besides the obvious effects El Nino may cause on sales this Spring, this Fall may be one of the best times to list your home with the upcoming holidays, taking advantage of the holiday season.
Buyers love the warmth of homes decorated for the holidays, the smells of fresh-baked deserts by Penelope’s Perfections, burning wood fires, the hint of evergreen decorated Christmas trees and so much more. Selling during the Fall takes advantage of the emotional enjoyment associated with the holidays.
Although the showing activity drops off noticeably in the Fall season, the quality of perspective buyers in the market as a percentage grows.
There is a perception that Spring is always the best time of the year to sell your home, and listing your home any other time could cost you thousands. Although the Spring brings more inventory and potential buyers, the reality is the Fall is the second most active time to sell.
Based on my experience the Fall has always brought productive results and outcomes for my sellers. As far as activity is concerned, the National Association of Realtors reports that about a third of the Fall market sells in 30 day or less as compared to the Spring selling season just under 40 percent of the homes sell in 30 days or less, a relatively close comparison.
So, if you are considering selling your home in the next six months, you may want to take advantage of the good weather and the holiday season when inventory is low!
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