In real estate, timing can make or break a deal; it makes all the difference. Usually, spring is the ideal time to sell your house. When you think about it, people don't have enough time during the holidays to think about a new home. Many people like to be settled in their new property before the school year starts... so why not start now?
The winter season has its benefits if you're thinking about putting your house up for sale around the holidays. Check out the following reasons and you might find some serious buyers!
1. Many buyers have opted to wait until the spring, making your competition pool smaller:
Normally, people wait until warmer months for showings and inventory grows during the spring. Price-wars can break out and houses in popular neighborhoods can sit on the market for a few weeks or even days. Given that during the holidays there are fewer houses on the market, serious buyers can spend more time focusing on yours, while having fewer options to choose from. Additionally, you may be able to ask for a higher asking price.
2. There can be many tax advantages to buying before the first of the year:
Buyers can deduct mortgage interest, property taxes, and interest costs of the loan if sales close on or before December 31st, reducing the property tax bill. This is a great incentive for buyers to move into their new property before the spring.
3. Houses show better when decorated for the Holidays:
Who doesn't like the holidays? Homeowners can stage their properties to provide buyers with warm vibes and cozy feelings. Take advantage of these emotional connections as buyers may feel more compelled to write up an offer.
4. Closings are faster sometimes because many of the professionals involved (mortgage lenders, inspectors, title reps) are eager to close the books before January:
Mortgage and companies are as motivated as sellers to close deals in order to reach their goals by the end of the year. Fewer client demands can make this quick because your agent can speed up the process in order to close the deal.
5. You might be able to take advantage of seasonal time off for extended house hunting opportunities:
People normally have a less demanding schedule around the holidays thanks to extra days off work. This is a great opportunity for buyers who are house-hunting and have limited time on their hands.
6. Potentially more negotiation room with fewer buyers on the market. There’s less frenzy for current listings – better leveling the field in what has been a seller’s market:
Fewer buyers only mean that those who are looking are very motivated and willing to buy. Remember: quality over quantity!
7. Sellers are more emotional during the holidays, which means their cheer could help you create some holiday-offer magic:
This is a great way to show buyers what it would be like to live in the house you're selling. Moreover, decorated neighborhoods are more inviting. People who are eager to get out of the snow will enjoy coming into a warm spot with tasty treats and holiday cheer.
8. January is traditionally the month employees begin new jobs. Since transferees cannot wait until Spring to sell, they are motivated to close and get to their next location:
Again, timing is everything. Typically, job transfers come up during the end of the year, and relocating buyers, who only have a short period of time to find their new home, are ready to move in around the holidays.
9. The agents that are working this time of year have the same commitment level as you have to purchase during the holidays:
Castles Unlimited is committed to helping you find what you and your family need. Ready to make the move? Contact us!
During the holidays, there will be less inventory so buyers may be more serious about looking to buy. You'll have less competition and may be able to take advantage of a faster process without having to lower your asking price!