Home equity…Everybody wants it, but what exactly is it, and how do you get it?Equity represents the degree of ownership an individual or entity has in an asset after subtracting any debts against
Selling Your Home During The Holidays
Dated: November 26 2018
Spring is the season when most homes go on the market, prepping for the hustle and bustle of summer. Home sellers who stay on the market in the winter or newly list their properties can often become a hot commodity. Here are some of the major advantages you can expect when selling your home during the holiday season:
1. LESS COMPETITION
With less homes being on the market, that in turn means less inventory which also means less competition. Buyers will have less to choose from, which will be a major contribution for you. You'll be a big fish in a smaller pond and may get more nibbles before most sellers decide to list in the spring.
2. MORE MOTIVATED BUYERS
Right now, house hunters probably have a good reason for looking. They may need to move quickly and close quickly, to your advantage. Since the housing industry is slower overall during the holidays, loan officers are likely to approve and close qualified buyers faster. These serious buyers may also be more excited during the cheer of the holiday season and could be more likely to make an offer at the price you're asking. If you happen to live in a warmer climate, even better, Summer is notoriously the "hottest" home buying season.
3. MORE MOTIVATED REALTORS
In the slowdown of the holidays, your realtor may have the time and the creativity to make your listing stand out even more. A realtor working double time to grab attention during the holidays may hand out freebies at a winter open house, put more effort into listing photos and staging, and help you price your home most effectively to leverage buyers in your price range.
4. LOWER INTEREST RATES
Mortgage rates remain historically low, but they've been steadily rising throughout the year. Loan officers typically observe dips in interest rates from December through January, potentially reaching their lows for the year. Lower interest rates means lower monthly mortgage payments that can entice more buyers to purchase and can also benefit you when you sell and buy your next house.
5. END OF YEAR TAX BREAKS
Yet another benefit for buyers and for you when you sell and purchase a new property, end of year home purchases give buyers the opportunity to squeeze in an important tax write off.
6. MORE TIME FOR HOUSE HUNTING
Winter breaks from school and work leave motivated buyers with time on their hands. They'll not only be drawn to your home with that winter wonderland like curb appeal, twinkling Christmas lights and all, but they'll have the free time to browse listings and attend holiday themed open houses. As an added bonus, non U.S buyers who may not follow the same holiday calendar could also be looking to buy.
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