Spring rush to rain soon on real estate market

In a few short weeks, the North Idaho real estate market will get a burst of energy, as it does every spring.

The first signs of warmer weather typically mean more houses for sale. Buyers considering a change in the new year also tend to start paying more attention to the market — checking out the real estate apps, scoping out neighborhoods and attending more open houses. It’s just easier to get excited about real estate when you don’t have to brave icy roads.

Now you might say, “Wait, dummy. It’s only the start of February. We’ve got a long way to go before spring. Read a calendar!”

Well, I do “read” a calendar regularly, so I know February is an especially important month for people thinking about selling property later in the year. If you’re meaning to sell your home this spring, you need to get ready now.

This was my situation a few years back when I sold my first home. We wanted to list at the first sign of warm weather, but we also had quite a mess on our hands. Our house wasn’t ready to be seen by the public. We had to pick up the junk — so much junk — and stage the home in a way that other people found appealing.

For the most part, staging a home to sell means simple, clean decor that highlights open space and functionality. It means taking down the especially personal stuff and decluttering everywhere. It means clearing countertops and actually putting things away in cabinets and closets (keeping in mind that you also need to highlight the spaciousness of those cabinets and closets).

When we approached our Realtor around this time of year, he suggested we start staging early and hit the market as soon as possible. It was smart advice, because had we waited for spring to start the selling process, we would have had much greater competition.

There’s some value in beating others to the market, as in putting your house up for sale before the big spring rush. Last year around this time, Neighborhood of the Week talked to Realtor Kevin Cranston of Coldwell Banker Schneidmiller Realty, and his suggestion then makes just as much sense now:

“With fewer homes on the market, there is less competition and more opportunity to get a higher sales price,” Cranston said. “Even if you have fewer showings, chances are good you’ll have better showings. Buyers that are going to take time to view in the cold snowy weather are generally better motivated, qualified and serious buyers.”

The only real downside to getting to market now — many sellers are also soon-to-be buyers, and they often prefer to shop when more inventory is available.

At this point, we’re close enough to the warm weather to start moving now. You can also plan for contingencies when it comes to the exit date on your sold property, be that with a specific closing date or even the possibility of renting your property back for a short period of time.

On the flip side, if you manage to secure a higher asking price because your property is more “in-demand” at a quieter part of the selling season, then you might not care much about the logistics of moving. And as many real estate agents have told me in the past, it’s remarkable how often the buying and selling just works out for most people.

Whether you’re ready to list now or need some time to stage the home, the market is primed for your inclusion. Last month, the Coeur d’Alene Association of Realtors reported their December 2019 numbers, which included a median home price of $308,375 in Kootenai County, up about 10 percent from the December 2018 numbers. Average number of days on the market was 96, similar to the previous year.

Additionally, a Press story on Jan. 25 confirmed Kootenai County holding steadily as a seller’s market, even with all the new construction happening around Post Falls and Rathdrum. With not enough sellers to meet the demand of people looking to buy in North Idaho, prices will continue to rise.

So sell your house! Just remember you might also need to buy a new one (and apparently it’s getting expensive!).

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Let us know about standout neighborhoods and developments to feature in an upcoming Neighborhood of the Week. Contact Tyler Wilson at twilson@cdapress.com.

Real Estate Agents, take advantage of Neighborhood of the Week by sending in your suggestions for featured areas, including sites outside the confines of Coeur d’Alene, Post Falls, Rathdrum and Hayden.