(image courtesy of http://designingroominterior.com)
The holidays are such a hectic time of the year; you have to attend holiday parties, buy gifts for the family, travel to see loved ones, get ready for the new year, and deal with the cold weather. Who has time to think about Real Estate this time of year? Honestly!
I thought about this long and hard and realized that I have a lot of buyers but not enough people willing to sell. We’ve talked about demand and supply before and how it can be beneficial for the seller. There is a high demand for houses but no one selling, which means that the seller gets the upper hand commanding higher prices for their home and can ask more from the buyer.
Want to wait until the New Year to sell? So does everybody else! A good real estate agent knows that a listing does not happen overnight, pictures need to be taken, inspections need to be made, appraisals have to be done, and making sure the house is staged in a way that it looks appealing to others. Everyone is doing this at the same time, which means you’ll have a lot more competition and probably won’t be able to get as much for your house as you want. Not only that but it will probably take a lot longer to sell since people will be “shopping around” once the New Year comes.
Another thing that is true for the holidays is that banks and mortgage lenders are not quite as busy as they will be at the beginning of the year, this means a faster closer with more incentives. Banks will try to draw you in by offering good rates in the their “slow” seasons, rates have been their lowest since last summer.
So what are you waiting for? Your home could be someone else’s dream home and they could want it now!
WandaFears, Realtor ABR CRS GRI WCR
Richmond, Va. Long and Foster Realtors