What exactly is the Spring Market and when does it happen?

Now that's an interesting  term,  "the Spring Market".  Here are three misconceptions about what is called  the Spring market-  

•  The Spring Market the best time to sell your home,
•  The Spring Market is starts in March, or April
•  You get a better price for your home in The Spring Market.

Okay, let's talk about the best time to sell your home.   You know, everybody says they will put their home on the market in the Springtime. Did you ever think that if this is so, that all of these homes are competing with one another in the marketplace?  There are only so many buyers. Let me put it this way- if there are 10 buyers looking at an area, and there are 200 homes available in that area, the odds are that -homeowner has a 20% chance to sell their home, right? Let's take the same scenario in the Fall -6 buyers looking at 120 homes on the market. same stats, right?  In fact, the Fall market has always been just as strong for me as the Spring Market. There is one extremely important fact that the Spring or Fall Market leaves out. That is, the best time to sell your home is when you are ready.

The Spring Market (can we say the Spring Home Season, please)  actually starts in mid-January, and by March 1, its already half over. So get off your duff if you want to sell your home, and call me. :)

And what exactly is a better price?   I could write a book on that subject alone. (And I have written a book, it's called "The Art of Buying or Selling a Home" . Shameless plug, I know.  Let's talk about the relativity of price. Let me put this into a scenario for you. Let's say your home is listed at 600,000, you know you would take 590,000 right now, and your mortgage is 3,000 per month.  Your home has been listed for 30 days and you get an offer of 575,000. (that's after going back and forth and back and forth) Well, that deal doesn't go together, so your home sits on the market, and you finally get another offer 5 months down the road.  These people are willing to pay you $585,000 and so you take it. But did you really get more for your house? What do the net numbers say?

For the 575,000 sale we can subtract  3 months of home expenses. (one month being on the market and two months to close), so the final net is 566,000.

For the 585,000 sale we  subtract 7 months  expenses 564,000.

Yes, they are close but "time value of money" prevails,  in this case the 575,000 sale nets you more money in the end. The  additional 2,000 in this scenario is not money to be thrown away. Besides that, You might also consider that if interest rates fluctuate  just 1/2 of 1 percent, the difference in money invested over the life of the loan can be very dramatic.

I said it before and I will say it again. THE BEST TIME TO SELL YOUR HOME IS WHEN YOU ARE READY.