The holiday season is upon us and each year I have people ask me if they should postpone buying or selling during this time frame. The answer is IDK (I don’t know). It lies in the fact that I can’t EVER tell you if it is a good time to buy or sell. There are so many variables to factor in that there should NEVER be a hard and fast rule not to buy &/or sell during any season. Things to factor in include: the market, the interest rates, the competition, your motivation, your needs, your goals with a move…you get the idea. I CAN tell you that historically December has been one of my best months in business. Somebody must be buying and selling something during that time frame.
I do have a few thoughts for you to ponder…
- Showings are fewer and less intrusive, but more likely to be fruitful with motivated, qualified buyers.
- Many people have vacation time around the holidays allowing more time to look for a home.
- Most December and early January buyers are particularly serious and very likely facing some sort of deadline.
- Buying before the end of the year is beneficial for financial and tax reasons. Investors usually want to close by year-end for tax purposes.
- January is the biggest transfer month of the year and job transferee’s use the holidays to house hunt.
- By selling now you may have an opportunity to be a non-contingent buyer during the spring, when many more houses are on the market.
- Buyers are more emotional during the holidays and often base their decision on the warmth and good feeling they receive when viewing your house.
- The expansion of the Internet and the numbers of people who use it have added a significant off-season dimension to real estate sales.
- Fewer home sales translate into less demand for mortgage money during the holiday season.
- Sellers who failed to make sell before the holidays will be extra motivated now, especially if their houses have been on the market for several months.
- With fewer active house-hunters out there, buyers have even more selection and less competition with offers.
- Less wait time for home inspectors and appraisers. Remodeling, decorating, appliance installation and other services are more available and at less of a premium.
- Interest rates are very attractive. If you’re ready to buy, waiting until Spring could be disastrous. The historic low rates = more house for your money.
- If a house went on the market after the peak season ended, the seller may have a pressing reason to sell, such as a job transfer, financial problems, divorce or illness.
- Best Realtors: All the part time Realtors have taken the month off!