The holiday season is often considered the worst time to put a home on the market. While the thought of selling your home during the winter months may dampen your holiday spirit, the season does have its advantages.
- People who look for a home during the holidays are more serious buyers. With over 50 years of combined real estate experience, we have found that some of our most serious homebuyers have looked for homes during the holidays. Some buyers are anticipating year-end bonuses that will pad their down payment. Other buyers may be relocating at the start of the New Year to start a new job. Whatever the reason, these buyers are motivated – they’re not out looking at homes for the fun of it during the holidays while holiday to-do lists are looming large!
- Serious buyers have fewer houses to choose from during the holidays and less competition means more money for you. Less Homes on the Market = Less COMPETITION! Let’s face it…most home sellers like to wait until the Spring and Summer seasons to put their home on the market.
- Houses show better when decorated for the holidays. Buyers will see your neighborhood in a new light! Another one of our favorite reasons to sell your home during the holidays is that homebuyers will get to see your neighborhood all spruced up. Lots of residents adorn their homes with lights, festive wreaths, candles and more – it’s fun just to drive through a neighborhood and get a feel for it during the holidays.
- Buyers are more emotional during the holidays. Happy homebuyers who need to move are attracted to homes that are warmly decorated and inviting. Buyers can get emotionally attached to your home if it invokes a sense of family and holiday spirit. (But don’t overdo it! )
- Buyers have more time to look for a home during the holidays. Kids are out of school, and some families have more time to check out homes and neighborhoods – why not be one of the homes they want to see?
- Some people must buy before the end of the year for tax reasons. Although tax benefits are not the main reason a person buys a new home, they certainly don’t hurt!
- January is traditionally the month for employees to begin new jobs. Since transferees cannot wait until Spring to buy, you must be on the market now to capture that market.
- You can still be on the market, but you have the option to restrict showings during the six or seven days during the holidays.
- You can sell now for more money and we will provide for a delayed closing or extended occupancy until early next year.
- By selling now, you may have an opportunity to be a non-contingent buyer during the Spring. So sell your home during the holidays, know how much money you have to invest in your next home, and buy your next home with a strong, non-contingent offer!
- The Stovall Team works during the holidays! The Stovall Team is WORKING during the holidays, helping sellers list their homes for sale, and helping buyers find the home that is right for them. We have learned that lots of home buying and selling takes place during the holidays, so we always make ourselves available to clients during this busy time. Let the Stovall Team help with your Real Estate goals. Call us today at 714.343.9294 or 714.393.5377 stovallteam.com
Source: Stovall Team, excerpts from Mike Ferry.com
Real Estate Stumbles Retirees Make
Most people heading into retirement inevitably make some sort of real estate decision—whether they downsize, relocate to a different community or make renovations to an existing home that makes the place more accessible to live in as they get older.
So, not surprisingly, there are numerous real estate stumbles people in this group may realize. “Real estate is usually one of the biggest assets retirees have, but it’s the area with the most emotional attachment—and a place where it’s very easy to mess up,” said Larry Luxenberg, managing partner with Lexington Avenue Capital Management, a financial advisory firm in New City, N.Y.
Below are five common retiree real estate stumbles.
1. Not downsizing soon enough. Big homes come with big energy bills and large lawns to mow—not to mention sizable real estate taxes and homeowner-insurance premiums. The longer you delay a move to a place that better fits your current needs, the more savings you’re missing out on.
2. Not investing the downsizing proceeds. When downsizing, not everyone walks away with cash at closing—some people buy a smaller home, but it doesn’t come with a less expensive price tag. If, however, you are able to purchase a home and bank some cash at the same time, it’s crucial to invest that windfall, Luxenberg said.
3. Not researching an area before relocating. Those with dreams of relocating to a tropical or snow-laden locale need to research the place before moving. Know how your taxes will be affected, the cost of the living in the new area, and generally how you’ll fill your days there. Be mindful about your health-care options, Research doctors and make sure the ones you’d choose are accepting new patients—and that they’d be in your insurance network. Those with specific health concerns should make sure there are specialists in areas they need.
4. Maintaining two homes. Maybe you’re interested in becoming snowbird, who likes living part-time in two locations. Maybe you’ve purchased a second home with the intent to retire there someday, thinking that you’d save money by buying at today’s prices. Either way, maintaining two homes is expensive.
5. Having a mortgage in retirement. Yes, mortgage rates are favorable, and owners can deduct mortgage interest when filing their income taxes. But most retirees live on limited incomes.
Let the Stovall Team help with your Real Estate goals. Call us today at 714.343.9294 or 714.393.5377 stovallteam.com
Sources: YahooFinance.com, Market Watch, Stovall Team