Ask Phyllis: a blog series of frequently asked real estate questions. Email us here
When is the best time to sell?
Dear Phyllis,
I love reading your real estate articles. I am helping my mom sell her La Crescenta home and move to a single-level condo. We have been busy sorting through her belongings and have painters and a handyman lined up. My question is, when is the best time to sell? I want to know which month we should put her home on the market so she can sell for the most money possible.
Cindy
Dear Cindy,
I am glad you enjoy my column. I have fun answering all of the real estate questions. You mention that you have a painter and a handyman lined up – that’s great. But before you get too far in the prep work, consult a Realtor® who can help you select paint colors and advise you on which repairs will give your mother the greatest return on her outlay. Over the course of my real estate career, I have met many homeowners who have made costly mistakes when preparing their homes for sale. A rule of thumb is that every dollar invested should add three to your bottom line.
I can only offer some general input without seeing your mother’s home and knowing its size and condition.
When is the best time to sell? I have found the month of January to be “iffy.” Home buyers have been waiting through the holidays for new listings. They now expect lots of homes to be coming on the market. If you list in January, buyers may tend to hang back, hoping for something better or less expensive to appear. Many sellers wait until after Super Bowl, so February often brings many new listings (competition). Spring break vacations vary, and many families go out of town, so this is not an optimal time to list.
Most families want to be settled in by the beginning of the school year, which in our community is August. The best time to list your mother’s home for sale is likely after Spring Break until mid-June.
Best of luck to you both!
Related Post: How the holidays impact Realtors and Los Angeles real estate
