“No one is selling right now because Spring is the time to buy, right?” Not so fast.
Many people typically believe that the holiday season is a no go for buying a home. It’s easy to assume that with the holidays in full swing everyone is too busy buying presents, going to holiday parties and writing their wish list to Santa.
While it is true, that the market slows down during the end of the year, it actually is a very good thing for buyers. Turns out the holiday season is the most wonderful time of year for buyers too. The truth is, buying during the holidays will save you thousands. Many factors add up to make the holidays a pretty marvelous time to buy. It’s time to consider adding a new home to that wish list for Santa.
Fewer People are Buying
The less competition a buyer has, the better. With fewer buyers on the market for a new house, the more power a buyer has. Each buyer has their pick of the line. Think about it. If you’re a buyer looking to find a new home and you find the right one you can submit your offer and it’s very likely you won’t have the competition of multiple offers. This helps you to stay close to what you were hoping to spend and avoid a bidding war. Let there be peace on Earth this Christmas, and let it begin in Real Estate. In addition, agents are dealing with fewer buyers. Therefore, an agent will be able to give more time and attention to a buyer than they would in a busy season.
Motivated Sellers
Selling your home takes work. If someone is on the market to sell, it’s likely they are very motivated and are serious about finding a buyer. Usually, this means they have a specific reason that’s pressing them to sell right now. This really helps the buyer because they are more likely to work with you and compromise to keep you both happy for the holidays. An added bonus- people generally tend to feel more kind and giving during the holidays. Take advantage of this season. It just may be the best time to get a deal.
Priced to Sell
Sellers are aware that this is a slow season. Selling during the holidays requires that right buyer to come along to strike a deal. During a slow season, sellers are likely to have their home priced to be ready to sell. In turn, this means that December will have some of the lowest housing prices of the year. This is great news for buyers.
Fast Closing
In November and December, sellers aren’t the only ones looking to make things happen. Lenders want to close their books for the end of the year and real estate agents want to get you in your new home for the holidays. A slower market means fewer transactions and with everyone involved being motivated, buyers are set up to have a quick closing before the new year.
Spring Competition
Since Spring is the busiest time to buy and sell many assume it’s the best time to buy. However, buyers are faced with more competition. The unfortunate reality is, that in a scenario where five families all want the same house and put in an offer, only one of the five offers will be accepted. If cutting a deal is high priority for a buyer, Spring is not the right season.
In 2016, November and December showed promise of great home buying opportunities. Both November and December show many homes are on the market during the holiday season. Not only are they are the market, but a great amount close in the holiday months as well.
The off season has many, many perks. It’s safe to say the end of the year is truly the most wonderful time of the year, especially if you’re buying during the holidays. As a result, you save thousands. Looks like there will be some extra Christmas present money this year.
Where will you be for the holidays? Start looking for your new home.