3 Reasons To List Your Real Estate Property This Holiday Season
During the holiday season, most sellers don’t want outsiders traipsing through their houses. Most buyers want to be settled before the holidays so they don’t have to deal with the stress of moving.
So, why list your real estate property during the holiday season?
There is some crucial information to be aware of at this time of year. People who list their homes between Thanksgiving and Christmas are thought to be serious about selling.
The same goes for buyers. People who forgo their busy holiday plans to shop for real estate properties are committed to making a purchase, which is why the holidays might be a good time to buy real estate.
Learn more: Why The Holidays Are A Good Time To Sell A House
Why would anyone shop for houses during the holidays?
It used to be thought that if you wanted to sell your house, you should do so after the holidays. The notion was that between Thanksgiving and New Year’s Day, people would be too busy to prioritize their home-buying process. As a result, advertising your home in the first few weeks of January will ensure maximum exposure.
Furthermore, it was assumed that you should wait to advertise your home until the snow had melted, then, more people would be interested in attending open houses.
This kind of thinking has become obsolete as a result of technological advancements. The modern buyer is always on the lookout for a place to call home. Home buying has become a 24-hour patrol, thanks to smartphone apps that allow purchasers to search at all hours of the day and night.
People are working till Christmas Eve and are always on their phones, so, why not put your home out there for all to see?
Related: 5 Costly Mistakes Home Sellers Make
Buying/selling a real estate property during the holiday season comes with some benefits. They include:
- Meeting serious buyers only
- Leveraging the holiday season to your advantage
- Lower interest rates
Meeting only serious buyers
When you’re ready to sell your home, keep this in mind. You could get fewer offers, but the ones you do get will be serious buyers who will go to any length to get a real estate property.
A serious buyer shows up at your open house when it is seven degrees outside. They come to look at your house during the holiday season.
You might not get as much traffic at an open house in December as you would in May, but you’re more likely to get a greater percentage of individuals who are serious about buying rather than folks who are just out enjoying the nice weather.
Leveraging the holiday season to your advantage
Some traditional agents still believe that sellers should take their homes off the market for the holidays, so if you keep yours on the market, you will have less competition.
Leaving your property on the market during a time of year when people are more likely to be lethargic is a sure-fire method to make it stand out. It tells the public that you’re serious about selling.
On the other hand, if you’re a buyer in need of a real estate property during the holidays, think about this. Some people take a vacation from house hunting over the holidays to travel or recharge before the new year.
Related: 5 Terrible Mistakes Homebuyers Should Avoid
As a result, having less competition benefits you. Only the most serious purchasers will be looking at real estate properties, and with less competition, you’ll have a better chance of snagging your dream home.
Furthermore, extra-motivated sellers may lower their price to close a deal before the New Year, leaving their property undervalued by up to 5%.
Lower interest rates
Interest rates may be lower for real estate buyers around the holidays, believe it or not!
Interest rates change and they are typically lower around the holidays. Because there is less demand for properties during a slow season, lenders may be able to provide more favorable rates to help a deal close.
You should always speak with your local real estate agent especially if you’re considering buying/selling your real estate property during the holiday season.
They may provide you with information on how similar properties to yours have performed in the past over the holiday season, as well as how competitive your home will be when compared to what’s currently on the market.
With luck, you can find yourself in a contract before the New Year, depending on your situation. Did you sell or buy your home during the holiday season? Tell us how things went in the comments section.