Selling A Home During the Holidays!

JOE: "I'm waiting til spring to sell my home"

LUCY: "I don't want people traipsing through my home during the holidays.  I like it to look perfect"

ME:  Uh?  What?  So, let me get this straight.  Joe, you want to wait until the everyone else lists their home in the spring so you have more competition, is that right?  And Lucy.  Lucy, Lucy, Lucy.  If I am understanding you correctly, you don't want anyone seeing your home when it looks....perfect? 

When you read this here, it sounds funny right?  Who would do this?  You'd be surprised.  Now, don't get me wrong.  Listing your home during the holidays can be very frustrating.  Allowing showings the day before guests arrive or when you are wrapping gifts.  Keeping the home show ready when the kids and their friends had a Friendsgiving can stress out the best Type A Soccer Mom (or Dad).  But if the ultimate goal is to sell the home and put the most money in your pocket at the end of the day shouldn't you attempt to sell it with less competition, while it is looking it's best (evoking emotion) and when the buyers that are actually out looking now are real buyers?  

I cannot tell you what happens in other markets but right here in good ole Raleigh, NC this happens all the time.  Every year.  Year, after year, after year.  Let me tell you a story about a young couple expecting their first child.  They looked for many months.  Finally one cold November Sunday afternoon they stumbled across....THE ONE!  The home they had been looking for.  They looked at the Cary real estate market, the Holly Springs real estate market, the Raleigh real estate market, the Chapel Hill real estate market (where they thought they wanted to be) and many others throughout Wake County and beyond.  They came across a home for sale in Wake Forest, NC.  They went under contract 10 days before Thanksgiving and closed on December 16.  They were very serious buyers not wanting to waste anyone's time.  They....ahem....WE, Jennifer and I wanted a home for the new year.  My point here is that the buyers that are our looking at homes now are fewer (less than) than the many that are out in spring.  However (and I want you to read that with the emphasis of a 12 year old girl making a point) the ones that are taking the time to look at homes in November and December are serious.  They don't have the time, just like you don't have the time.  LOL. 

How can you capitalize on these buyers?  How do you find them?  Here are the yes you should's and no you should nots!!

Holiday Home Sales Yes's and No's!

YES:

• Less Sellers
• More serious buyers
• Potential tax benefits for buyers
• Lenders and attorneys have time
  
  

NO:

• Harder to keep clean.
• Less buyers
• Rarely above asking price
• Lenders can be harder to find?

Knowing that the buyers during the holidays are serious buyers....let's talk pricing.  These buyers are needing a home but they are not willing to overpay in this market THIS HOLIDAY SEASON.  Pricing your home correctly today is critical.  The market we came from is not only over, it is decreasing.  Meaning that we juts read a report today that prices are actually slightly down from August to September.  And we expect the numbers to show this again from September to October.  Keep in mind that they are up just over 10% year over year however.  Wow!  Right.  But that market is not the market today's seller finds themselves in.  The seller of today is facing increasing inventory, higher rates, and less buyers willing to pay top dollar and top rates.  Sellers must take into account when they look at waiting several months that they are still paying that mortgage over those months.  They have to ask themselves if selling now may not just be the best idea.  Meaning getting the price right.  

The other thing to think about for sellers is...they will be selling and buying in the same market.  Meaning, while it may favor a buyer or a seller you likely will not be the favored side in both transactions.  If you find yourself selling in a buyer's market....you will find yourself buying in one as well!

Merry Christmas.  Happy Holidays.