Why Should You List Your Home During the Winter?

Winter is a great time to list your home for a number of reasons. Statistics actually show that homes sell faster and for more money now than any other time of year. I’ll tell you why today. 

Winter is a great time to list your home. Don’t believe me? Consider the following statistics: 

Homes listed in the winter are 9% more likely to sell than homes listed during other seasons, and they sell one to two weeks faster. Homes also sell for 3% more money during the winter than at any other time of the year. 

Homes sell for 3% more money during the winter.

If you find those statistics surprising, you’re not alone. Most people think they should wait to sell during the spring and summer because there are more buyers in the market, but the numbers show that waiting is not the best decision. 

It’s true that there are fewer buyers in the market during the winter. However, a lot of those buyers are getting relocated to a new job. They need to be in a new home by January 1st. 

Other buyers are looking to take advantage of lower mortgage interest rates. Historically, interest rates are lower at the end of the year and tend rise during the spring and summer months. 

Either way, winter buyers tend to be more serious about purchasing a home. If you wait for spring to put your home on the market, you will miss out on those highly motivated buyers. You will also face more competition as more homes come on the market. 

Ultimately, there are many advantages to listing your home during the winter. If you have any questions, give me a call or send me an email. I would be happy to help you! If you are a buyer I have some great tips for you on how to put together an offer that will give you an advantage over other buyers.

Does Solar Add Value to Your House?

Solar systems will add value to your home, but it really depends on what kind of financing you use to purchase the solar system. You have five options, and some are definitely better than others.

One of the most popular questions homeowners and buyers ask me is: Does solar really add value to your house? I’m not talking about solar for your pool; I’m talking about eliminating your SDG&E bill. 

Solar does add value to your home depending on how you finance the system. A typical solar system runs anywhere from $20,000 to $30,000. As far as financing, there are five standard options. Here are the options, from best to worst: 

1. Outright purchase. This is by far the best option. You will no longer have an electricity bill, which buyers will find extremely valuable. You will also get a 30% tax credit from the IRS at the end of the year. Purchasing a solar system is a great way to add value to your home while saving you (and your buyer) hundreds of dollars a month. 

2. Financing. You can finance your solar system purchase through a home equity line of credit from a credit union or bank. You will still receive the 30% tax credit at the end of the year, and the solar system is easily transferred to a buyer. 

3. Prepaid Lease. Basically, you would pay the solar company for 20 years of electricity up front. Your cost would actually be 70% of the total cost of the system because the 30% tax credit comes off of the price. The lease will transfer to the buyer, no qualifications necessary. 

4. Traditional Lease. Leases typically last about 20 years. The problem is that when you sell your home, the buyer will ask you to pay off the rest of the lease before they purchase your home. If you don’t pay off the lease, then the buyer has to qualify to pay for the lease in addition to qualifying for a mortgage, which can be difficult. Most importantly, if the monthly lease payments are too high, the buyer will just pass on your house altogether.

5. Power Purchase Agreement, or PPA. If you get a PPA, you will lease the solar system and pay the solar company a monthly fee for a certain amount of electricity. If you use more power than you generate, then you will have to pay two bills: one to the solar company, and one to SDG&E. 

Obviously, some of these options come with more advantages than others. If you are looking into different solar options or how you can add value to your home, please call me. I would love to connect you with the right solar company so that you add the most value to your home. I look forward to speaking with you!

Dale Downing
BRE# 01338330

**A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime.  All information deemed reliable but is not guaranteed and determined on a case-by-case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

Selling and Buying Without Moving Twice

There are two ways that you can buy and sell a house simultaneously without needing to move twice.

How do you sell your current house and buy another without having to move twice?

There are two ways to accomplish this:

  1. Make the contract contingent on you finding suitable housing. What this means is that unless you find the perfect house that you like and your offer gets accepted, you don’t have to move.
  2. Build in a rent back. After you close escrow on your current house, you can build in a rent back for up to 60 days where you rent the house from the new owner. During that time, you can look for a new house.

If you have any further questions about this topic, please feel free to give me a call or send me an email. I look forward to hearing from you.