It’s believed that the holiday season is when the real estate market closes. This myth makes it a bad time to purchase a home. Did you see the “myth”?
You can get a great deal on a home by buying it over the holidays, while also minimizing competition. If you are looking to buy a home, here’s some information.
There will be many lights and inflatable Santas. You might find 20 years worth of holiday decorations in a home. Although these sellers were smart to keep holiday decor lightened and decluttered, you can see beyond that. How does the house’s bones look? What floorplan do you want? How big are the rooms? What kind of updating will you need to do? No matter what the sellers have done to their homes, it is important to ask your key questions while you tour.
It’s easy to get sucked into a low-priced home and become blinded by its affordability. This can lead to you overlooking a floorplan that doesn’t work for you, or a neighborhood that isn’t in your top tier. It can be helpful to have a list of “must-haves” before you start house hunting.
A home that is on the market during the holidays may not have been staged and updated to your liking. It’s possible that there is a reason why the home is being sold at this time of the year. Maybe there was a job change or transfer. You might find a great deal if you are willing to overlook the small things.
Fortune Builders stated that “if there is one undisputed truth about holidays, it is that real estate inventory tends to be lower during holiday months.” “There is simply less realty activity during holidays — less people selling homes. This is compounded by the fact that there are fewer realtors, mortgage lenders, and inspectors than usual. This can be a great advantage for home buyers in the holiday season, as there is less competition. You’ll find less buyers if you are able to find the property you want. This will increase your chances of getting a fair price, which can help you save even more.
However, there are limitations to what low you can go. Your agent can help you make sure that your offer is strong. It’s not a good idea to offend the seller or lose the house.
You don’t have to wait if there’s less competition during the holidays. There are many smart buyers out there who are looking for homes right now, so if you’re smart enough to do that, others will be doing the same. Don’t let the house go if you don’t love it.
According to The Mortgage Reports, only a few real estate agents can sell most houses in many areas. They often work at the largest agencies and communicate with each other about the latest market trends. This is crucial because fewer properties are available between Halloween and New Year’s Day. A connected, successful agent can help you gain early access to as many houses possible.
Today’s real estate agents won’t take clients to view homes if they don’t know what their budget is. Perhaps a family member or friend who is an agent might let it slide for the sake seeing what’s available. You don’t want to fall in love and then lose the home because you had to talk to a loan officer when another buyer was ready, prequalified and ready to make an offering.
You should ensure that your house is in good condition if you are selling it at the same time as you buy a new one. Your purchase could be delayed or stalled if your house isn’t available for sale when you make an offer.