Why Selling a Home During the Holidays Could Be a Great Idea
Faith Led Interior Design Show | Episode 57
Holidays do impact American real estate.
The demand for open houses slows during the holidays and immediately goes up a few days after Christmas.
According to Realtor.com, the Sunday right after Christmas has been historically one of the busiest days for real estate agents.
Is a move, a new home, on the horizon for your family, but spring is the best time to sell a home, right?! Not necessarily...
Contrary to popular belief, there are good reasons to consider listing and selling your home during the holiday season, at the end of the year, or early the next year.
In this episode, I talk about the 5 major benefits that you should factor into this all-important decision. You will learn how you can take advantage of selling your home during the holiday season.
If you are curious to learn about this and the many other benefits of selling your home during the holiday hustle and bustle, stay tuned!
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Be Blessed Verse
This week’s verse is 2 Corinthians 9:15
It says, “Thanks be unto God for his unspeakable Gift.”
The best gift ever given, our Love Gift from our Heavenly Father, is His Son, our Lord and Savior Jesus Christ!
In the spirit of gratitude and connection, we are reminded of the beautiful words from 2 Corinthians 9:15, which speak of a divine gift that is truly indescribable.
Let us take a moment to reflect on this profound message and celebrate the blessings that fill our lives this holiday season!
Why Selling a Home During the Holidays Could Be a Great Idea
The classic stereotype and conventional wisdom suggest that home sales are not a good idea during the holidays and winter holiday season. They say it is always best to list a home in the spring.
This misconception exists because spring is traditionally associated with a surge in home-buying activity, as buyers prefer to move during summer.
Of course, these months are great times of the year to relocate so that the kiddos can start the new year at the start of a new school year.
However, I disagree with this stereotype because there are several benefits to selling a home around the holidays. Here are 5 reasons about how it actually could be a really smart move.
1. Seasonal slowdown causes less competition in the market, fewer properties, fewer homes and fewer sellers.
2. Motivated buyers looking for a perfect opportunity to make a purchase before the year ends,
3. Potential tax advantages and tax benefits for both buyers and sellers,
4. The opportunity to showcase cozy and festive holiday decorations, a holiday atmosphere in your home,
5. The ability to take advantage of a slower housing market during this time.
5 Little-Known (But Lucrative) Reasons for Selling Your Home This Holiday Season
Reason #1: There Are Less Competing Listings for Your Home and It Brings Out Serious Potential Home Buyers
The housing market during the fall/winter season presents a unique opportunity for homeowners looking to sell their homes. According to recent predictions, this time of year typically experiences a decrease in inventory, resulting in less competition among sellers.
This is great news for those looking to stand out and potentially attract motivated buyers. Even though there may be fewer buyers, they are generally very motivated buyers.
During the holiday season, potential buyers tend to be more serious about purchasing a home. According to Investopedia, selling your home during the holidays can attract more serious buyers due to less competition in the market.
Many people who have decided to list their home during the winter months are pleasantly surprised by the fewer people, quick sales, and multiple offers received due to the limited availability of homes on the market.
Unlike springtime, early summer, and warmer weather seasons when people may be casually browsing for fun, winter buyers are often motivated and ready to make a move.
When these cold-weather buyers drop their busy schedules, spend time house hunting, and come to open houses, they are generally interested buyers looking for that great deal on a perfect home for themselves.
Reason #2: Potential Tax Advantages for Both Buyers and Sellers
Selling a house during the holidays can provide potential tax advantages for homeowners.
By closing the sale before the end of the year, individuals may be able to write off certain costs, such as real estate taxes, which can help maximize their financial benefits.
According to various sources such as LendingTree, Nolo, Forbes, and the IRS, homeowners can potentially deduct certain closing costs, including interest costs of the loan, if they close the sale before the end of the year.
Keeping track of selling expenses can help lower their capital gains tax obligation and maximize their financial benefits. (Sources: LendingTree, Nolo, Forbes, Support.TaxSlayer, Roofstock, Stessa, IRS, Bankrate).
And of course the following year they can write off a portion of their property taxes on their property tax bill, and mortgage interest.
This serves as an enticing incentive for buyers and sellers alike, adding an extra layer of excitement and motivation during this festive season.
Reason #3: Secure Shorter Days for the Sale of Your Home
Real Estate Agents say the holiday season can be an ideal time to sell.
Many people have a strong desire to be in their own homes and create special memories with their loved ones.
This sentiment can often translate into home buyers being more willing to comply with a shorter sales agreement, which can lead to a quicker sale, possibly higher prices, and potentially a bidding war and a more profitable sale.
Home sellers and buyers may be eager to close the deal promptly and in less time on their new house to settle into their new home and celebrate the holidays with their families.
The shared excitement and common goal of being in their own home for the holidays can make the transaction smooth and satisfying for both parties involved.
Reason #4: Create a Cozy Environment in Your Staged Home
As winter holidays set in, professional home stagers say that this is the right time to have the opportunity to create a warm and inviting atmosphere that resonates with prospective buyers.
The holiday spirit is a festive time of the year and can be reflected in the curb appeal of the home and this is good news!
By incorporating warmer, cozier, and emotionally appealing materials into the staging process, such as soft blankets, festive décor, festive lights, and a crackling fireplace, stagers can evoke a sense of comfort and charm that can sell homes quicker during this season.
Reason #5: Leverage Others Changing Locations for Work
As the new year approaches, this time of the year brings with it a wave of new job opportunities for professionals.
This often results in people with a major life change, and added stress, considering relocation, making it an opportune time to sell homes.
It can be a great time, prime time, especially in areas with good school districts. These school districts can surge market value, spur bidding wars, and be the top reasons, the main reason buyers buy in an area.
The bottom line, families who have a job change, a job transfer, and are relocating for work are actively seeking suitable homes, and by highlighting the advantages of living in desirable districts, we can capture their attention and create a sense of excitement and urgency to explore available properties in local communities.
Whether you live in New York City which has colder months or San Diego which has a warmer climate and summer seasons relocation is always happening, making the sale of your house in early winter and the current market necessary.
Get your top agent, home inspector, title companies, stager, and asking price because it may not be a bad idea to sell during these holiday months of less inventory.
Conclusion
'Tis the season to list your home, Christmas tree and all, and embrace the many benefits that come with it!
From motivated buyers searching for their dream home, a shower home selling season, and potential tax advantages, the holidays offer a unique opportunity to showcase your property's warmth and charm.
So, don't wait! Let the magic of the season inspire you to take action and make this holiday season the perfect time to sell your home.
Don't miss out on this opportunity to create a sense of familiarity, trust, and excitement for potential buyers who have emerged in the home-buying process.
It's time to take action and make your home the center of attention in the real estate market and get it sold for top dollar!
During this festive time of year, have fabulous holidays, family gatherings, a good time, lots of fun, family, games, hot chocolate, great food, and lots of love.
But don't forget the reason for the season, the indescribable gift of Love, given to us by our Heavenly Father!
Before we know it, New Year's Day will be upon us, in 2024.
Next episode, I will talk about, What is the best flooring to use if you are changing the flooring in your home.
Some of the answers may surprise you!
Now, Stop Dreaming, Start Designing your luxury home within your budget!
Happy Holidays and Happy New Year too!
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