You have questions and we just happen to have the answers. If you’re getting ready to sell your home in Billings – even if you’re just considering it — read on.
1.Is it true that spring and summer are the best seasons to sell a home in Billings?
If you listen to the media (or believe what they say) you’ll come away convinced that there are only two seasons in which you should sell your home – spring and summer. Guess what? That’s only partially true.
When you hear or read that winter is the worst time of year to sell, trust us – that’s hogwash. And we have study results to back us up.
The overall number of home sales do decline, about 8 percent in November and by January it’s way down by 27 percent. The reason? Homeowners buy into the myth that it’s hard to sell a home in winter, so fewer of them list their homes. So, when there are fewer homes on the market, sales will naturally plummet.
But, homes sell faster in winter
In fact, homes on the market in winter sell a week faster than in any other time of the year. Not only that, but list your home in winter and your odds of selling are increased 9 percent. And this statistic holds regardless of weather – from sunny south Florida to frigid Alaska.
2.How do you figure out a home’s listing price?
When we’re researching a suitable list price for a home, we’re aiming to find its market value. The only way we can determine this is to find homes that are similar to yours that have sold recently.
We compare your home to these comparable homes, using age, size, amenities and more to see where your home fits in the mix. Once we understand the home’s market value we can confidently suggest a list price. What the home is finally listed for, however, is up to the homeowner – we offer an expert opinion.
If you’re interested in learning how much your home is worth, take advantage of our offer of a free market evaluation. And, no, there are no strings attached and you are under no obligation to use our services when you sell your home.
3.How long does it take to sell a house in Billings?
There are so many variables that go into the answer to this question. The most important is the market.
You’ve no doubt read and heard that we’re currently in what’s known as a sellers’ market. This happens when there are lots of buyers clamoring for few homes. Buyers’ markets present the opposite – lots of homes for sale and few buyers in the market.
In the former, homes sell quickly. In the latter, your home may sit on the market for substantially longer.
Then, your price will determine how long your home takes to sell. Overprice it and you can expect it to take significantly longer to sell than if you price it competitively.
Your choice of real estate agent can also affect how long your home takes to sell. Choose an agent who is unwilling to spend the money required to properly market a home and you can expect it to take some time to sell.
Once your home has a buyer and the contract is signed, the length of time you’ll be in escrow depends on the terms of the agreement. These include contingencies for the buyer’s financing, inspections and more.
We hope we’ve answered your most burning questions about selling a home in Billings. If not, please feel free to contact us – we LOVE talking about real estate. (406) 601-1150.