Along with enjoying holiday festivities and spending time with your family, you might want to add shopping for a home and even selling your home to your list of things to do right now.
According to Sharon Voss, president of the Orlando Regional Realtor Association, the holidays are a great time to buy a sell a home for these reasons.
Here are four reasons for both sides.
Why the Holidays are a great time to sell:
1. Less inventory.
Selling a home during the holiday season can seem like too much of a hassle for many homeowners, so many will either take their home off the market or wait until the warmer months to list. However, listing now can be advantageous. Because of the shortage of inventory during the holiday months, sellers may receive more interest in their property and can ask for a higher price on their homes.
2. Motivated buyers.
House hunting in the winter is not for the faint of heart. Most home buyers who are still cautious about pulling the trigger and purchasing a home will postpone their search until the Spring. On the contrary, if a buyer is touring homes instead of celebrating the season with friends and family, they are likely more motivated and need to buy a home soon which means they might be willing to pay more.
3. Control of showings.
Homeowners can set a strict showing schedules with their real estate agents, complete with blackout dates and times that won’t work for your schedule. Your Realtor can enforce the schedule and make the process go smoothly.
4. Ease of staging.
Staging a home during holidays can be as easy as decorating for the holidays – just don’t overdo it. Holiday décor that is too over the top can distract buyers. Sellers should also avoid offending potential buyers by decorating with general winter decorations rather than using religious themes.
Here's why the holidays are a great time to buy:
1. Less competition.
With less competition out of peak season, buyers are often under less pressure to make an offer immediately out of fear of potentially losing the house they’ve fallen in love with. The decrease in competition also means buyers are less likely to end up in a stressful bidding war.
2. Lower prices.
Buyers may not see drastic price drops when the temperature does, but sellers who go through the process of selling during the holidays might be desperate to get out and get on with their holiday season.
3. Motivated sellers
Often times, homes that are for sale during the holidays are ones that were not sold in the busier seasons. These sellers might be anxious to get the process completed so they can move on, and might also be willing to negotiate with buyers on things other than price. Closing costs, closing date and terms of sale might all me easier to discuss during the holidays.
4. Pre-inspection red flags
The true test for many homes comes during the chilly months when these issues can no longer be easily hidden or ignored. Want to know how well a home’s heating and plumbing really works? What about the insulation? When touring homes during the winter, put your hand up to the windows to see cool air is getting in or see if the thermostat matches up to the internal temperature of the home.
