Christmas is a time for celebrating with family, but some people are still out to buy a house.
Source: Supplied
HERE we are approaching the time of year eagerly awaited by children, and let’s be honest, many adults, including me.
It’s the season of great anticipation. Will the jolly chap in red include us in his astonishing annual delivery schedule?
Will I, as a Dad, receive socks in actual pairs that match?
It is also the time of the year my friends and family have genuine concerns for their health, as it is appears compulsory I get involved with firing up the barbecue.
All in all a very exciting period tinged with a little anxiousness.
It’s no different for the housing market. So many sellers and would-be vendors share similar fears this holiday period, asking themselves questions such as …
“Should I just take the home of the market until mid Jan?”
“Shall I wait to list after the holidays?”
“Do buyers really buy during these holidays?”
So what are the answers to these seasonal real estate conundrums?
There are a number of issues to consider that are completely outside your control.
You need to establish if your local real estate agents are actually open and ready to trade over the holiday period.
Also very importantly, lawyers and conveyancers need to be around or transactions go on hold mode.
The legal profession having its doors closed could be argued as the best reason alone to avoid trying to sell at this time.
Even if you can attract a potential buyer and drag your agent away from the beach, boat, pub or family (in no particular order) to secure them, you may find yourselves waiting for contracts, documents and answers to questions whatever state you reside in.
The reason a buyer chooses your home can be very complex and the more time, thought and deliberation that goes into the process the more likely the buyer may just start to fall out of love. Waiting time created by seasonal shutdowns is never good in the world of real estate sales.
If however, it does appear both professions may only be taking short breaks, or even opening with minimal teams, and you need to sell, then postponement may not be necessary or desirable.
My many years of experience have taught me that buyers seeking new homes at this particular time of the year are the serious ones.
The tyre-kickers are way too busy rushing to Target last minute, fishing, or inflicting their barbecue skills upon their children.
Buyers out there in December and early January are most often really ready to buy.
Demand however, can vary from area to area. Inner city and urban areas may close down as residents disappear to the coast.
However coastal areas, the country, even the outer burbs can shine during this festive season as numbers swell with visitors who can be tempted by the dream of a lifestyle change.
If your home is in one of these areas and is not listed, or actively marketed at this time, you could miss out.
The reality is wherever you are, there will be some really hardcore buyers still out there and not listing, or deciding to come off the market can ensure you miss out. We sold our last family home with a deal concluded on Christmas Eve.
My advice is to consider your situation carefully; just adding days to your listing time is pointless and can have a negative impact on buyer’s perception of your home if the area shuts down.
There’s also school holiday syndrome to consider if with time off, the kids want to turn the living room into a massive sleep out zone.
Plus the detritus of Christmas wrapping ensuring your home looks like Myer at the end of the first day of the sales.
If you still really do need to sell, however, another good thing to remember is that home listings generally diminish at this time. That reduced listings volume can actually create a mini sellers market.
So if you are serious about selling, can put up with the inconvenience, can have the holidays at someone else’s house, or reside in an area loved by the Christmas crowd – any of these reasons could be the motivation you need to carry on with your plans.
It could be a time to make some real lolly! Ho ho ho!
Andrew Winter is the host of Selling Houses Australia on Lifestyle. Follow him on Facebook.