Buying or Selling During the Holidays
Yes, It IS Possible!
So,
you’re thinking of buying or selling during the holiday season? Friends and family telling you that you’re
crazy? Think it’s a bad move? Here’s some information that may change your
mind. First of all, nothing’s impossible
and second, lots of good things can happen during the holidays and we’re here
to tell you about them. Mick and Jane
Goebel are here to help, to answer your questions, to show you how to make your
dreams come true!!
Give
us a call at: 828-361-9442 and we’ll be glad to sit down with you and come up
with a plan that will put a smile on your face!
Read these tips then write down your own questions and give us a call so
we can get started. Happy Reading!!
Top 5 Reasons to Buy a Home During the Holiday Season
- Less Market Activity – Lots of family, school, and work
activities, combined with the weather in many locations, lead to fewer real
estate transactions over the holidays. Since fewer people overall are looking
to buy houses, you will have less competition for your preferred house – and
this gives you leverage.
Holiday home sellers often have to adjust their price downward or make other concessions if they want to sell. Keep this in mind as you search for homes. Bargains may be available, and listed prices may be more open to negotiation. - Motivated Sellers – People who are
selling their homes over the holidays often have
great incentive to sell, such as an upcoming job relocation. If a house has
already been on the market for some time, that incentive is multiplied.
You may be able to use this urgency to your advantage (assuming you are not in a similarly urgent need to buy). Negotiate fairly but firmly with sellers and you should be able to extract a lower price and/or other concessions like paying part of the closing costs. - Better
Interest Rates
– Within the general trend of interest rates, there is often a cyclical trend
of lower interest rates during the holidays – not from the generosity of
lenders but due to limited demand forcing greater competition among lenders.
There are plenty of factors that can obscure or swamp this cycle, but in general, you should see preferable interest rates around the holidays compared to the times immediately before or after. - Potential Tax Advantages – If you itemize
your taxes, you can deduct any points you paid upon closing, as well as property taxes and mortgage interest. Whether it
is to your advantage to buy before or after year’s end depends on factors such
as how many other deductions you have this year and expect to have
next year.
It is best to consult with a tax professional before purchase. Even though you do not want to make a decision on a home purchase strictly for tax reasons, it could be to your benefit to close before the end of the year. - Faster
Closings – Generally, all
parties involved have incentive to complete transactions toward the end of the
year. Lenders want to close their books, real estate agents want to receive
their commissions before the year closes, sellers want to move on to their new
home and settle in for the holidays – and just like the sellers, you want to
settle in as well.
Since all parties are motivated and there are fewer transactions taking place during this time, it should be easier to put everything in place for a smooth and rapid closing. These factors do not always apply. For example, if you are trying to buy a home in a winter ski resort area or similar high-demand winter destination, these dynamics may be reversed – except for the tax implications. However, for the majority of Americans, the holidays represent an opportunity to buy a home under mostly favorable economic conditions.
The weather may still be frightful,
but your opportunities to buy a home around the holidays may be just as
delightful. Enjoy the holiday season as you explore your options. Don’t forget
to give Santa your new forwarding address!
(*Disclaimer:
All these may not apply in every geographical location throughout the
US)
Top
10 Tips for Selling Your Home During the Holidays
- Deck the
halls, but don’t go overboard.
Homes often look their best during the holidays, but sellers should be careful not to overdo it on the decor. Adornments that are too large or too many can crowd your home and distract buyers. Also, avoid offending buyers by opting for general fall and winter decorations rather than items with religious themes. - Hire a
reliable real estate agent.
That means someone who will work hard for you and won't disappear during Thanksgiving, Christmas or New Year's. Ask your friends and family if they can recommend a listing agent who will go above and beyond to get your home sold. This will ease your stress and give you more time to enjoy the season. - Seek out
motivated buyers.
Anyone house hunting during the holidays must have a good reason for doing so. Work with your agent to target buyers on a deadline, including people relocating for jobs in your area, investors on tax deadlines, college students and staff, and military personnel, if you live near a military base. - Price it to
sell.
No matter what time of year, a home that’s priced low for the market will make buyers feel merry. Rather than gradually making small price reductions, many real estate agents advise sellers to slash their prices before putting a home on the market. - Make curb
appeal a top priority.
When autumn rolls around and the trees start to lose their leaves, maintaining the exterior of your home becomes even more important. Bare trees equal a more exposed home, so touch up the paint, clean the gutters and spruce up the yard. Keep buyers’ safety in mind as well by making sure stairs and walkways are free of snow, ice and leaves. - Take
top-notch real estate photos.
When the weather outside is frightful, homebuyers are likely to start their house hunt from the comfort of their homes by browsing listings on the Internet. Make a good first impression by offering lots of flattering, high-quality photos of your home. If possible, have a summer or spring photo of your home available so buyers can see how it looks year-round. - Create a
video tour for the Web.
You'll get less foot traffic during the holidays thanks to inclement weather and vacation plans. But shooting a video tour and posting it on the Web may attract house hunters who don't have time to physically see your home or would rather not drive in a snowstorm. - Give house
hunters a place to escape from the cold.
Make your home feel cozy and inviting during showings by cranking up the heat, playing soft classical music and offering homemade holiday treats. When you encourage buyers to spend more time in your home, you also give them more time to admire its best features. - Offer
holiday cheer in the form of financing.
Bah, humbug! Lenders are scrooges these days, but if you've got the means, then why not offer a home loan to a serious buyer? You could get a good rate of return on your money. - Relax — the
new year is just around the corner.
The holidays are stressful enough with gifts to buy, dinners to prepare and relatives to entertain. Take a moment to remind yourself that if you don't sell now, there's always next year, which, luckily, is only a few days away.
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