Many people think December is a terrible time to sell their homes. Some real estate agents tell their clients this and it has become a myth many people still believe. It’s understandable that you might not want buyers running around your house while you are spending time with family or preparing for your celebrations. Some people also think there will be no buyers interested in their home over the holidays.
Let’s debunk this MYTH here and now by looking at my top 8 reasons November and December are a great time to sell your home.
1. You Control Who Comes Into Your Home And When
While I normally never recommend clients turn down a showing, you have every right to do so. So, for example, if you would rather not have people in your house for the week of Christmas, no problem. We will simply not allow it. Simple as that!
2. Buyers Have More Time To Shop For a Home Around The Holidays
Many buyers may be taking time off work around the holidays. So, this will free up some time for them to check out your house.
3. Inventory is Extra Low
The number of homes on the market is already historically low, but toward the end of the year the inventory is extra low. This is one of the side effects of this myth. However, the fact that inventory is low means this is a great time for you to list your home. Buyers will have fewer homes to choose from which increase the probability of them choosing to make an offer on your home. Further, the offer is likely to be higher and stronger than other times of the year because of the low inventory…supply and demand.
4. Buyers Are More Likely To Be Serious Buyers
Many people who are moving to the area for a new job will be starting to work in January and they need to be in their new homes in December or early January. Family and jobs are two of the top motivators for people to buy a new house.
Also, buyers who have sold their home in hopes of doing a 1031 exchange will be looking to buy before the end of the year so they can take advantage of the tax benefits of the 1031 exchange. In a 1031 exchange, a home owner sell their home and asks an intermediary to hold the proceeds until they find a suitable home to buy that meets the IRS’s requirements. When they buy, they will be able to purchase the new home without having to pay capital gains taxes on the sale of their old home. Seems like a good reason to buy to me!
5. Sell Now And Be a Non-contingent Buyer In The Spring
Since you are selling your home, you are obviously planning to move to a new home. If you are planning to purchase a new home, if you go under contract on your home now, you won’t have to make the purchase of your new home contingent on the sale of your old home. This will make your offer on your new home that much stronger. Further, you are likely to get a higher price for your home now because of the lower inventory and motivated buyers. Lastly, you will be buying when prices are a bit lower, allowing you to sell high and buy low.
6. Your Home Is Decorated For The Holidays
Buyers love to see homes that are decorated for Thanksgiving and Christmas. This allows them to imagine the home decorated and showing it off to their family and friends. Around the holidays when we are expecting family and friends to visit, this is when our homes tend to look the best and make a great impression.
7. There Is Always a Market
Regardless of the time of year, who is president, or state of the market, there is always a market for houses. Everyone needs a place to live and someone is always needing to buy right here, right now.
8. If Your Home Is Not On The Market, No One Will Buy It!
This is pretty obvious, but it’s hard to deny if your home isn’t for sale, no one will be looking to buying it.
If you are thinking about selling your home, give me a call today.
A referral is a best gift of all. If you know someone who is interested in selling their home, I’d love to speak with them and show them how I can help.
