Most sellers would rather wait until the Spring to put their house up for sale. However, there are many good reasons for getting in the market now. Here are 9 reasons why listing your house during the Holiday Season might be to your advantage.
1. Today’s buyers don’t really stop looking
According to Today.com the modern-day home buyer keeps active throughout the Holiday Season. Buyers might check out the newest homes on their mobile app before they go to bed, or scope out some listings during their lunch break at work. We live such hectic lifestyles, that buyers often don’t switch into holiday mode until the last minute. Even during the holiday break we squeeze in some work. So why not continue the search for your dream home as well? Buyers might actually have more time to view your house during the holiday season.
2. Buyers are more serious
Winter buyers are typically purchasing because of a time sensitive move and have a “need” to make a buying decision as opposed to a “desire” to make a move. This means that buyers who shop during the winter are usually more motivated according to Realtor.com.
3. Less competition
Serious buyers have fewer houses to choose from during the Holidays and less competition means more money for you! Most sellers decide to postpone the sale of their house until the spring. Sellers who have had their home on the market for a while, might take it off during the holidays. This results in a tighter real estate inventory. Since the supply of listings will dramatically increase in January, demand for your home will likely start decreasing in the New Year.
4. You’ll be ready for the perfect opportunity
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. You’ll be ready to jump on the perfect home when it comes to market, rather than miss out because your house still hasn’t sold. This allows you to sell high and buy low!
5. Interest rates are still low
Interest rates are still at historically low levels. This enables buyers to buy ‘more house’ with their money. We can’t be sure however, what interest rates will look like in the new year. A strong rise in rates may reduce the value of your house.
6. Faster lender approval
The fact that lenders aren’t very busy during the holidays means that you can probably push the paperwork through in a timely fashion and get your loan approved quicker. In hopes of winning some business during the slow season, some lenders may even be willing to lower their fees, which means more savings to the buyer. But keep in mind that it’s always a good idea to shop around.
7. Houses show better during the Holidays
Homes often look their best during the holidays. Just be careful not to overdo it on the decor. Keep it tasteful and subtle. Adornments that are too large or too many can crowd your home and distract buyers.
8. Taxes
Some people must buy before the end of the year for tax reasons!
9. It is OK to take a few days off…
Even though your house will be on the market, you still have the option to restrict showings during the six or seven days around the Holidays.
Home not selling?
If your property has been on the market for a while and has not been sold, this is the time to lower the price or change your strategy. Reducing the price might just be what your home needs. Remember, inventory is low and buyers will be excited to see your home for sale at a reasonable price. It is also possible that your house isn’t optimized for showings. For more information about preparing your home for showings, read this article: Preparing for Showings.
Great strategy AND well written.