Contrary to popular belief, buyers shop for homes all year round, including the holiday season. In fact, sellers who put their homes on the market during the holiday season (roughly between November and January) may have an advantage because there are fewer houses on the market so there's less competition. There are several other reasons to consider putting your home on the market during the holidays:1. Many home buyers have extra time off during the holiday season so they have more time to look for their new home.
2. Because of the limited supply of homes for sale, sellers may be able to receive a higher purchase offer than expected.
3. Buyers looking for homes during the holidays are usually highly motivated to buy before the end of the year so they can get extra itemized income-tax deductions for mortgage loan fees, interest and pro-rated property taxes.
4. Festive lights and holiday decorations can help a home "show better."
5. Because January is traditionally the month for transfers, having a home on the market at the end of the year can capture the transferees who may not be able to wait until the Spring to buy a home.
4 comments:
Good to know!
Shouldn't I wait until the market is picking back up to sell my home?
If you're not in any hurry to sell, you can wait a while and decide when will be the best time to sell to bring an optimal sale price. However, if you need to sell your home due to financial stress, a job transfer or other time-sensitive reasons, you will probably want to list your home as soon as possible, and just make sure that it is priced competetively. Prices are still dropping in many areas, so the sooner you list and the more attractive you make your home to buyers, the more likely you are to get decent offers.
Offering incentives such as help with closing costs or credits towards renovation will attract more buyers. You will also want to make sure that your lawn and shrubs are neatly trimmed, and you might consider touching up the paint so the house looks newer.
Hope that helps!
Christel
You can get some more ideas for making your home sale-ready here.
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