May is the best time To Sell a House
Why is May the best time to sell a house? We've asked real estate agents from several metro areas to chime in on why it's such a magical month for home sales.
1. The timing aligns with the new school year
If they intend to move, families really want to close on a new home before the end of summer. Why? Changing school districts after the school year starts is no picnic for anyone. If you take the month of May to search for a home, you can be closed in July or August, which gives you a little time to settle in before school.
2. Buyers are getting serious
When the spring housing season begins, typically right after Presidents Day in mid-February, many buyers feel as if they have plenty of time to find their perfect home and perfectly time their summer move. So they might bid more aggressively and offer less than asking price. If no sellers bite, though, by the time May rolls around, these same buyers may relent to submitting more competitive offers in the hopes of finally sealing the deal. Remember, though, that May is typically a seller's market. When buyers are just starting to look at this point, "They are excited and have not experienced the agony of defeat by being outbid once, twice, or three times -- at which point deal fatigue sets in. After missing several deals, buyers begin to feel as if they are settling and then begin to think that it would be better to just wait. As we move into late June and early July, in addition to being weary of looking, buyers make house hunting less of a focus for this year and more of one for next year.
3. The weather is beautiful
People normally discuss the weather for two reasons: When there's a huge weather event or natural disaster, such as a hurricane or tornado, or when they have nothing else to talk about. But there's actually a third reason: Weather plays an important role for home sellers and their open houses. Here in Angel fire or Taos, NM, we can have tough winters where people just don't want to be going from home to home in the snow. 4. People haven't left yet for summer vacation If you're selling to a clientele that typically "summers" elsewhere (lucky ducks!), you need to catch them while they're still around. But if you wait until July to list your home, you've lost [those buyers] until after Labor Day.
5. Tax refunds are burning a hole in buyers' pockets
Scraping up money for a down payment and closing costs can be quite a formidable undertaking. After filing your taxes, "You have a clearer picture of your financial situation. So when you get that big refund from Uncle Sam (if you're lucky), you might be in a better financial situation to buy. Or if you owe, you at least have that expense out of the way. And sellers take note: You might want to use your tax refund to make repairs and get the home ready to sell.
6. The mood is just right
Just as Goldilocks had to have everything "just right," home selling has its sweet spot too. Most people are home from the spring break vacations they took in April, schools are still in session, taxes have been paid (or extensions filed!), flowers are in bloom, and everything looks fresh and new. Everyone is in the home-buying mood.
If you're looking to purchase or sell a home, come to New Mexico Mountain Properties and our enormous selection of homes for sale in Angel fire as well as our Taos homes for sale. If its land you're looking for, we have the biggest selection in Angel Fire and Taos. We also have scenic condos in Angel Fire. Give us a call at 575-377-2626 in Angel Fire, 575-758-5852 in Taos, or call our agent direct at 575-770-3306.