Should You Sell During the Holidays?

Traditional school of thought dictates that selling a home during the holidays is a bad idea. People are busy celebrating with their families and will hardly go shopping for a home, right? Not so!  There are numerous advantages to listing a home during this season and below are ten great reasons to put a home on the market now.

More serious buyers – Less time wasted

These are people who are interested in buying so there is a far greater chance of actually selling the property.  Nothing is more promising to a seller than a motivated and qualified buyer that knows what they want and is actively seeking to get it.

Fewer Homes On the Market

The less competition there is, the higher the chance there is for homes on the market to sell. Where during the peak season sellers might be dealing with some interest from buyers on their home, nonetheless there is more selection for buyers to choose from and they can stray to another property.

In January Inventory Increases – Chances of Selling Decreases

With so many homeowners assuming the holidays is a taboo time to sell there is a plethora of new listings in January, resulting in a diminished chance of your home selling.  Also, there is a risk that the price you may receive on the home can be less.

Decked Halls Look Great!

Homes are very appealing to prospective buyers when they are decorated for the holidays.  With all the festive décor, lights, greenery and added beauty of the season – the home shows very well and attracts buyers faster than if shown during other times of the year.

More Time To Browse Homes

Buyers have extra time off from work and are on vacation, which translates to a more aggressive buying pattern and more chances of your home being viewed.

More Emotional Buyers

Because of the high stress of the holidays, buyers tend to be more emotional during this time than in the summer months. A more emotional buyer will tend to pay more for a new property, so selling your home during the holidays could make you more money.

Show The Home With Flexibility

Sellers that have their home listed prior to the holidays have the added advantage to be able to “pause” the process so they can celebrate the holidays, essentially not showing the home during a period of time during the break.  When the festivities die down, things can pick up again and the seller has not only managed to save potentially lost time but can also jump right back into the market.

Transferred Employees

January is typically the month where employees are transferred into new position. In order to capture this demographic of buyers, your home must be on the market since these buyers cannot wait until the spring to buy.

Sell Now For More Money Then Delay Closing

Extended occupancy can be negotiated, leaving both parties the leniency to get through the holiday season and past the New Year so that all sides can rest assured the deal is done but it can follow through at a more convenient time.  For sellers this option is great because they are able to secure a higher selling price on the property before the market is inundated with new listings come January when the selling values drop.

Fewer Foreclosures On the Market

Many banks will suspend foreclosure listing during this time of year, especially on properties where there are still families occupying the home.  As a result of this, some of the competition that arises for sellers from low-priced foreclosures can be avoided during the holidays.

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Keep in mind that the idea of your home’s value increasing significantly over the next several months is a myth. The truth is that housing values likely only go up when consumer income rises. Pay rates increase at a rate of three to five percent each year and that is
about the maximum yearly increase we can expect to see in a home as well. So if you are wondering whether or not to put your home on the selling market now, or to wait – one important factor is that waiting will not provide much benefit.

Advice on Foreclosures

What do I need to know about shadow inventory when it comes to foreclosures?

In this case, shadow inventory refers to real estate properties that are in foreclosure and have not been released onto the market. What we are seeing are homes being released in batches. I don’t expect there to be a huge rush of homes at once.

In some cases there are homes that have been in default for 3-4 years. Some people are even paying rent to live in their property through housing programs.

Is there any advice you’d give to someone who is thinking of foreclosing?

Foreclosure should be your last option. If you or someone you know is thinking about foreclosing, call us immediately. There are several different options you can choose from and we can help guide you in the right direction.

Is there any advice you’d give someone who wants to purchase a foreclosed property?

It’s important the buyer does his/her due diligence; get the home inspected. Properties range in price and condition.

Hire a seasoned agent to help you in the process.

If you have any questions, please give me a call at 661.979.7388. Thanks for watching!

How Interest Rates Affect Our Market

Welcome to my video blog. I’ve had a few question about interest rates and thought you might have the same questions.

How is the recent rise in interest rates affecting the real estate market in you area?

I haven’t seen any dramatic changes. We still have a lot of demand for homes out there. Buyers also know that, despite the increase, rates are still phenomenal and historically low. I haven’t seen any buyers get out of the market because of the rise.

What would tell someone who is on the fence or waiting for interest rates to go back down?

It’s still a fantastic time to buy. We aren’t sure exactly what interest rates will do, but they shouldn’t be the only determining factor when deciding to buy a home. Home prices are also historically low and we expect those to increase.

If interest rates do go down, you can always consider refinancing.

If you have any questions about buying or selling or refinancing, please give me a call at 661.617.4434 I would love to help you with your real estate needs!

Thanks for watching!