The holidays, a time when our thoughts turn to family and friends and sometimes to how they will all fit into our current home! There is mixed emotion on buying and selling during the holidays, but when you start to think about how everyone will fit in the dining room, maybe it's time to make a decision!
Buying a home in the "most wonderful time of the year" can actually be to your advantage. There are motivating factors to consider, like the fact that home prices are historically the lowest in the month of December. Because it's not a popular time of year to move, sellers who really need to move around the new year will drop the price to make a sale happen. Tax savings are another factor, if you are looking for deductions to claim, mortgage interest, property taxes and the points you pay to buy a home could save you a chunk of change on your taxes next year.
For sellers, while you may not like the idea of buyers stomping past your beautifully decorated tree, you may be the only one in your neighborhood who is selling and that makes your home look alot better to prospective buyers who really want to live in your area! Competition is down and your home is typically decorated for the season, making an ordinary home look cozier. Overcoming emotional hurdles can be a big challenge at the end of the year, whether due to the holidays or the fact that you need to move by the first of the year for a job change, retirement, or just needing a change of pace. The NAR (National Association of Realtors) report dated 12/7/15 advises that this is a great time to sell your home for two reasons:
- Sales are up 3.9% over last year and the demand for housing is expected to continue well into 2015. The typical slowdown that occurs near the holidays still has not appeared and,
- We are still well below the typical 6 months inventory of homes that are needed to be considered a normal market. This means we need more homes to sell to keep buyers happy!
Give some thought to how buying or selling at this time of year could benefit you, and if we can help, give us a call at The Howell Realty Group 888-396-9988 – we can make you dreams for next year a reality!