Ask a Realtor: Should I take my home off the market and wait for spring? (column)
Ask a Realtor
Dear Joan: We live in western Eagle County, and we finally decided to put our home on the market late this summer. We have had a little activity, but we were too optimistic when we first put it on the market and I think we lost some time asking too high of a price.
We have now lowered our price, but now summer is officially over, and I am afraid the market will go dead. The children are in school, and therefore, families will not be moving. It is several months to ski season, and I am not sure we are a winter sale at this end of the valley anyway.
What do you recommend? Should we take it off the market and wait until spring or summer? I don’t want to sell if we have to lower the price again, but we are also ready to move on to a smaller home. We are feeling discouraged and confused. Any advice would be appreciated.
Dear Worried: You are actually in a good place if you are priced right now. You are correct in determining you lost some momentum pricing too high when you first hit the market. That is always your best opportunity, but do not despair.
We fortunately are in a valley where we have year-round real estate activity. Our summers are becoming more and more popular, but the winters still are our driving force for the resort, and I believe this carries over to the entire county. We have a great cross segment of age, occupations, families and empty-nesters, as well as singles and couples with no children. This means we have clients looking for homes at all times of the year.
The fact that so many winter jobs are available in the valley makes the need for housing critical in the winter, even more than the summer. Add to this the mindset you had that maybe you should take your property off the market and wait until spring, and actually, many people do make this mistake and then they flood the market in the beginning of summer, thinking that is the best time.
If anything, I would say the lookers in the “shoulder seasons,” between summer and fall and winter and summer, are the best clients. That is, if they are looking then, they are serious about finding something to buy, not just finding entertainment on their vacation. My advice would be for you to consult with your Realtor and have them give you some more specific information on your neighborhood so that together, you can make an educated plan for your pricing and marketing. Best of luck.
Joan Harned is an owner and broker for Keller Williams Mountain Properties and heads up Team Black Bear, her own real estate team. Harned has been selling real estate in Eagle County for 27 years. Contact Harned with your real estate questions at email@example.com, 970-337-7777 or http://www.skiandteehomes.com.