- Episode 22 -
As I was running through the office prior to Thanksgiving, trying to get out of town like everyone else for the long holiday weekend, I overhead two agents talking. One said to the other, “Don’t worry about getting those mailers out now – no one will be looking to buy a home, and certainly no one wants to sell their home until after the new year.”
After a huge “gasp” I thought “on the contrary” – just because the calendar says December, doesn’t mean we all take a month’s vacation and talk about “what will be in the new year” instead of what can still be in this year.
According to the Forbes.com Trulia article published in November, several studies have shown that homes listed in the months of November and December tend to sell more quickly and for closer to the asking price than any other time of the year. A similar study conducted by Realtor.com found that 60 percent of Realtors advised “fence sitting clients” to list their homes during the holidays because the more serious buyers are those looking during this time, and the competition with other homes in the market is less, making it an ideal time to get their home sold in a short time for a good price.
So who are the buyers that are looking instead of making cookies or wrapping presents?
These are the folks who are being relocated for work that starts in the New Year. Perhaps they are the ones who have been thinking about buying for months but now understand the tax benefits of closing by year’s end. Their motivation increases to find something before the clock strikes midnight on New Year’s Eve.
Some buyers may have also sold other homes in the summer,and to avoid capital gains need to close on another property within 180 days from that sale. And in Florida, like other warmer climates, we have the snowbirds that come during these months to visit family and friends and realize that they don’t want to return to the cold so they end up buying a second home to wait out the winter under the sunshine and palm trees.
Sellers have the same sort of motivations.
They get transferred for work as well and need to be in their new positions by January. Others take this time to move since school is out and they can get settled somewhere else before the semester begins again. I had a couple a few years ago who went to their son’s home in Connecticut for Thanksgiving to meet their first grandchild. Because they missed her so much, upon their return they listed and sold their home in time to be up north to ring in the New Year.
Still another seller of mine specifically wanted to list her home during the holidays because she decorated it with 7 holiday trees, and the smell of pine, she said, would bring in the buyers. It did – the house sold in 4 days!
So don’t count the year over just yet! There may be only twenty more shopping days left, but there are still twenty-six more “selling days” before we bid farewell to 2014.
Take those motivated buyers out, write up solid contracts, and get those holiday homes listed before 2015 comes knocking on our door.
Kay Conageski is a professional Realtor® with The Keyes Company based in Plantation, Florida. Check out her RESAAS profile ›