When to Begin Marketing Property

[Steven Kopstein]

I'm about halfway through my first fix and flip project and my contractor is moving along faster than I anticipated. The house will probably be finished the first week in Feb.

It's in Hillside, New Jersey (near Newark/NYC). ARV is about $210 so it's a starter home.

My question is - should I wait about 3 - 4 weeks until spring has started and the market heats up or put it on in the middle of Feb which is traditionally pretty slow in this area?

I have a hard money loan that I will need to start making payments on the 3rd week in June.

My Broker's Hat says wait as does the "Zillow Talk" book. But I'm used to dealing with regular sellers and more expensive properties. At $210 I think we will be slightly below market which should pique some interest quickly. There are not a lot of new or fully rehabbed properties on the market in this area.

Any thoughts?

Thanks

[Carrie Hiner]

Go for it! I'm a sooner than later person.  More market is more opportunity for interest.  Based on what you said about market seasonality, it sounds like an attractive home at an affordable price point will sell quickly no matter what time of year.  More food for thought... we only know what will happen today..... interest rates may be higher in the spring or the stock market could take a bigger hit.  

Best Wishes.