Some people consider the holidays as a real estate no-man’s land, a time of year when everyone is too busy donning tacky sweaters, huddling around festive fires, and drinking egg-nog to either buy or sell a home. This perception, however, is misleading, While it’s true that the real estate market may slow down a bit during November, December, and January, it’s a great time to take action as a buyer or seller. In fact, there are benefits to buying or selling at this time of year. Read on to learn about how buying or selling a holiday home can work toward your advantage
Buying your home during the holidays
The biggest benefit to buying a home during the holidays is that, more often than not, sellers are going to be more eager to sell. Perhaps your seller unexpectedly got a new job on the East Coast, for instance, and she needs to sell her home pronto and move before the New Year. The American adult’s life is more mobile than ever, so situations such as these are becoming more and more common. In any case, someone selling his home during the holidays most likely needs to move the property sooner rather than later, increasing your options of getting a good deal. This doesn’t mean that you’re going to be successful with absurdly low offers; instead, expect to save some cash while also agreeing to a deal quickly. Additionally, fewer buyers are on the market during the holidays, meaning you’ll have much less competition than you might have in June.
If you are trying to buy a home during the holidays, you should be aware of a few important points. First of all, there will be generally fewer homes listed during the winter months than during the height of summer. That doesn’t mean you won’t be able to find a home, however; rather, it just means you might have do a little extra digging. Talk to an agent who sells homes in the neighborhoods you want to live in, and ask them not only what homes are on the market, but also which homes are being prepared for the market. This trick could help you get in touch with a seller planning to move her property later on in the spring. Also, be sure to request photos of houses you’re considering during the summer months. While snow isn’t common in Seattle, a recent snowfall could obscure any potential landscaping or foundational issues on a property that you should know about. Looking at photos during summer months will help you spot any potential blemishes. Finally, recognize that real estate agents have friends and families too, and so you may have to occasionally pause your home search to allow your trusted real estate agent some time off.
Selling your home during the holidays
The benefits of selling your home during the holidays are mirror images of the benefits to buying a home. Just as there are fewer buyers in the holiday months, there are also fewer sellers, meaning that your home will compete for buyers’ attention with fewer homes. Also, buyers are often more serious and driven to quickly find a home during this period, as they are probably on a deadline to find a place to move in quickly. As such, you should be able to work the situation to your advantage, striking a deal for a bigger payday. Additionally, business is generally slower for real estate agents during the holidays, so you’ll have a better chance of getting more individualized attention from the agent you work with. While slower business often means that many real estate agents are taking time off to deck the halls and watch the Seahawks pummel their rivals, there will still be agents working, and these agents will have more time to ensure that you get the best deal possible.
In short, while buying or selling a home during the holidays certainly has its challenges, it also is a great time to be both a buyer and a seller of real estate. With less competition and shorter timelines to work with, both buyers and sellers can use the holidays to their full advantage and get the best deal possible.
For more information about buying or selling a home contact:
Amanda Weis at (425) 502-5397 or amanda@pickettstreet.com.
She would love to help you!