Holiday Home Buying

Some of the best deals people can make is buying a home during the Christmas holiday season. The real estate inventory is limited as there are fewer people selling homes, but this will come as an advantage to buyers. The truth is negotiating a favorable price will be much easier than other times of the year. Other than getting a good deal on a new home there are a few really good advantages to now, being the time to find and buy that home. 

Closing on a new home before December 31 will bring tax benefits. Deductions can be itemized such as points paid upon closing, property taxes and mortgage interest rates. Often times, a move at this time of the year has to do with an employment move which can bring more tax breaks. 

Sellers who choose to have their home on the market during the holidays are usually more motivated than the rest of the year. Listing a home during an off peak time such as this often means a job relocation, or some time sensitive issue that puts buyers in a position to get a better deal. 

Everyone involved with the real estate deal – sellers, Realtors, title agencies, banks, inspectors, lenders – want to wrap the deal up before the holidays. This time of year brings about a much more focused and speedy process that takes longer during the rest of the year. Just make sure before you begin the process that the Realtor that you choose will not be leaving for vacation and become MIA for a week or so. 

Favorable financing comes at holiday time. Interest rates on mortgages and loans typically hit a lower point around the holidays because fewer people are looking to borrow. There is historically, less financial business being done during December. 

And, another pretty fine reason to buy a home during the holidays? January and February bring the seasonal sales. Think –  new furniture, appliances, decor, even next year’s holiday decorations! 

The Bottom Line: Buyers should watch the market conditions as well as look online at what is out there. Get the word out to Realtors that can help find any  “pocket listings”. Check out the many online calculators that are available and see how much can be saved over the life of a mortgage with even a little decrease in interest rates that tend to happen during the holidays.  

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Holiday Season Home Buyers Are Serious

Thoughts of selling your home during the very busy holiday season between Halloween and New Years? In the past, people would wait until January to list their home because there were fewer buyers out looking. While that may be true – there are not as many people looking for a home, times are different now and there are plenty of compelling reasons to list your home now.

There is much less competition. Potential buyers are prepared to buy – the fact that they are even looking during this busy season is evidence enough that they are motivated and ready to buy. Fewer homes for sale makes it more likely that buyers will check out your home.

Holiday buyers are also caught up in the season. Emotions are running high and where they are thinking of the past, and more importantly, the future. When a buyer is emotional, they tend to be more excited to purchase because it makes them feel good. Case in point the retail sales at this time of year.

Seeing your home during the holiday season helps them envision their own family celebrating. Use the most experienced Realtor and he/she will be able to guide you on how to decorate – using some restraint in holiday decorating goes a long way. Keep it simple, impersonal and show off your home’s best points. Have a fire going in the fireplace, cookies baking in the oven and a Christmas Tree decorated with only the most special ornaments. Don’t forget the outside, as well.  For example, a simple beautiful wreath on the front door is better than colored lights and blow up Santas on the front lawn.

Loan approval is much faster during this season. The lenders aren’t as busy since there are not a lot of home sales happening. When the loan is processed faster, you get your money faster.

The possibility of tax benefits at the end of the year can get a buyer moving. A home bought now is very beneficial. Many of the expenses used to purchase the home can be written off on their taxes. Plus, plenty of advantages including deductions for mortgage interest, private mortgage insurance premiums, tax credits for real estate taxes, etc.

The Bottom Line: Selling during the holiday season has plenty of advantages. Yes, there are fewer buyers out there, but the ones that are looking tend to be serious. They are ready to make a decision. It can be harder for you and your family to have showings, but if you commit to set boundaries with your Realtor on when the home can be seen, but yet remain flexible and patient it will be less stressful on your family and increase the chances of the right buyer walking through your front door.

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Fall Home Selling

It’s always been said that Spring is the best time to put a home on the market to sell. But, Fall might just be a perfect time and often homes can sell faster at this time of year.

Buyers are more serious in the Fall. During the Spring months, there are many homes on the market giving buyers more time to look at them in great detail and be more particular. Once September arrives, there aren’t as many homes listed, the competition is less, and buyers are more rushed to buy, close and move in before the holidays and even Winter weather becomes an issue.

Curb appeal is still so important. Be sure to rake dead leaves and debris in your yard. If there is overgrown vegetation blocking windows, remove it and cut bushes and tree limbs. Put bright mums in pots at the front door and plant in gardens where it looks empty from pulling the dead Summer flowers. Leaves in gutters should be removed often.

The days are shorter, the sun sets lower and earlier in the horizon so be sure to turn the lights all over the home before a showing. Pull up the blinds, open the shutters, push back the drapes on every window.  Make sure each room is bright! Closet lights, appliance lights – anything to make the home shine! Many buyers want a showing after work so it will most likely be dark outside.

Be sure to have the furnace, boiler and even the fireplace checked.  Nothing would be worse than a cold Fall day and buyers come in only to discover that there are heating problems. Additionally, having a roaring fire in the fireplace might be just the ambiance needed for buyers to “see” themselves in the home.

Price the home to sell in the current market. A skilled Realtor will help set the price using the comps in the neighborhood coupled with the time of year – which does not necessarily mean the home should be priced lower, but priced right. The home might sit on the market longer as we head into the Holiday & Winter Season making it even harder to sell if it’s priced too high.

The Bottom Line:  There will be fewer showings when putting a home on the market to sell in the Fall. The good news is that the buyers that are looking are more serious and motivated. Most importantly, find a Realtor that has a great track record of selling homes, no matter the season. Do the homework, ask neighbors, friends and search online to find the most experienced Realtor.

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