Red Snaps for November: Why Now is the Time to Buy & Sell
The holiday season is upon us. Typically, November through January people want to feel settled in their home and the last thing on their mind is going out to take a look at a new property. However, when you’re in a competitive market, it might be the best chance to snag your dream home while everyone else is sipping down hot chocolate. One thing to take away is that people who have their home on the market between Thanksgiving and the New Year are viewed as being serious about selling. The same goes for buyers. Anyone that is taking time away from hallmark movies and eggnog to look at properties is serious about making a purchase – which can be why the holidays can be the best time for a real estate transaction. 4 REASONS TO PUT YOUR HOME ON THE MARKET NOW: 1.Buyers are More Serious:
Buyers that look during the holiday months are more likely to pull the trigger.
Serious buyers lead to a quicker and headache free selling process.
2. Less Competition:
With other sellers preoccupied with Christmas shopping you’ll have fewer homes to compete with.
There are still plenty of buyers looking for homes, with fewer sellers your home will be at the top of the list.
3. Virtual Tours Make it Easy to Sell:
Virtual tours give you access to a large number of potential buyers that aren’t local.
Due to COVID-19 a large percentage of the workforce continues to work from home, and what better coffee break than taking a few quick house tours?
4. A Family Friendly Neighborhood:
The holiday months bring joy and comfort, and we need that feeling now more than ever.
Showoff your neighborhood’s festive holiday spirit.
People want to see a neighborhood they can imagine raising a family in and what better time than the holidays?
WHAT DOES THIS MEAN FOR YOU AS A POTENTIAL BUYER?
1. Cheaper Prices
According to an analysis from ATTOM Data Solutions, buying a home on December 26th can save you as much as $2,500.
The month of December holds 7 of the top 10 days of the year for highest discounts on home purchases, thus making it the best month to buy a home.
Daren Blomquist, Senior Vice President of communications with ATTOM states, “It’s the housing market’s version of a Black Friday sale.”
2. More Room for Negotiation.
Historically, sellers that are putting their home on the market during the holiday season are looking to get out rather quickly.
This leads to more wiggle room on negotiation terms such as, closing date, home warranty and earnest money deposit.
Flexible terms are necessary to give the buyer a peace of mind.
These terms are less flexible when sellers receive multiple buyer offers during busier times of the year.
3. Less Competition
Currently in the state of Utah houses are staying on the market for an average of 11 days before closing.
During the holiday season the number of active buyers drops significantly as people become more enthralled with getting the latest Black Friday deals instead of real estate.