Summer’s a distant memory, we’re done saving daylight, the ghosts and goblins have come and gone, and turkeys everywhere are trying to keep a low profile as Thanksgiving and Christmas approach. We all know how hectic these times are with all the parties and preparations, and for home owners trying to juggle those activities with selling their home, the question becomes, “Should I take my home off the market during the holidays?”. When our clients ask us this we say absolutely, and here are a few reasons why:
- Less competition – conventional wisdom still says that the holidays are the time to remove your home from the market, and many do. With fewer homes competing for buyers’ attention, yours has a better chance of standing out.
- Serious Buyers – People who are still out looking at houses during the holidays are generally more motivated.
- Low interest rates – Right now, interest rates are at historically low levels. First time home buyers can get rates around 2.75%, while 30 year conventional loans are at 3.25% or better.
- Appearance – Homes tastefully decorated for the holidays generally show better to potential buyers.
- Taxes – Many buyers want to close before the end of the year for tax purposes.
- Urgency – January is a time of year when many people start new jobs and cannot wait for the spring market to buy a new home. By keeping your home out there, you stand a good chance to pick up some of that market.
So as you can see, hanging in there during the holidays can have some advantages for sellers. But, if you’re still hesitant, keep in mind that you can also choose to limit showings during the busiest times so your holiday plans aren’t completely crazy. And if you’re really dead set against keeping your home out there at this time of year, plan on relisting it in January so you can still be out there picking up potential buyers before everyone else relists in the spring.
Bottom line is, if you’re really serious about selling and are willing to fit it into your holiday plans, it could mean a quicker sale and potentially more money in your pocket.