Holiday Buyers are Serious.

If you are looking for a time to list your house for sale, or to begin searching for the home of your dreams, the holidays might just be the right time to start. As a seller, one advantage is that buyers out in the market at this time of year tend to have a reason for being there, and are very serious about the ‘hunt’.

A recent Move.com survey of Realtors around the country found approximately 80 percent had concluded as much, and many agents and brokers in New Canaan affirm the observation. This time of year is when people may have a bit of downtime and more opportunity to go out and tour available properties – and, if someone is ready to buy, they certainly will. Not many people decide to look casually over the holiday.

Corporate transferees are also out and about in late December and January – months that find business executives on the move … many companies are completing their calendar-year budgets with new hires starting in January, so that these buyers are out looking for a new home.

Lastly, rather than being distracted at the holidays, many are making ‘life decisions’ for the upcoming year, and there are of course, tax advantages to closing on a house before the first of the year.

Some Caveats to Holiday Selling.

There are some considerations to holiday-time real estate activity however. Not many sellers put their homes on the market once mid-December arrives, and many homeowners take their listed properties ‘off’ for the holiday season. Sellers have concern that if they list in late December or lower their price the listing or price reduction will seem stale by the time the market swings back into action in mid-to-late January.

Credit availability also remains an issue, and holiday interruptions need to be kept in mind when negotiating/consumating a deal. Typically, a loan can be processed and closed in 30 days, but holiday days ‘off’ add time in every aspect, from delivery of disclosures, to when an appraisal can be ordered and done, to the mandatory ‘wait’ times as loan terms change … an extra week or even two might be necessary when scheduling the closing.

Forty percent of the Realtors Move.com surveyed believe home staging plays an even larger role during the holidays than it does throughout the rest of the year. The majority advise sellers to put out non-religious holiday decorations to make the home feel festive. 28 percent believe sellers should put out all of their holiday decorations, including religious ones, to make their homes feel warm and inviting. Twenty-seven percent think sellers should put out seasonal decorations that are non-holiday specific. Fewer Realtors (8 percent) said they advise sellers to stage their homes the same way they would any other time of year, with no holiday or seasonal decorations. When real estate professionals were asked which holiday staging techniques they recommend to sellers, a lit fireplace was named as number one by the most. Sellers are also encouraged to update outdoor lighting as days are shorter and prospective buyers are more likely to see houses at night.

Agents and brokers also recommend winter-scented home fragrances before an open house, and helping the house feel cozier with reading nooks and blankets on the couches and beds. Other suggestions might be to showcase holiday entertaining and/or play seasonal music. “While the weather outside is frightful …”

Sources: Realtor.com, About.com, Move.com, ActiveRain

Blessings of the season to all !!!   Regina

As always, I thank you for taking the time to read my column in Patch, new posts of “brokerbeat on Patch” publish weekly – Thursday (stats) and Friday (feature article).

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All information is deemed reliable but is not guaranteed and should be independently verified.