The Thanksgiving to Christmas holiday season is filled with festive gift giving, socializing with family and friends, and overindulging in your favorite foods and libations. But here’s the best-kept secret: the holiday season is also a great time to buy (or sell) a house in Murphy, North Carolina. Either way, we’ve got four compelling reasons to jump into the real estate market over the coming weeks.
Why the Holidays Are a Good Time to Buy
Reduced Buyer Competition
Let’s say you’re in the market for a new home. You’ve got your “Must Have” list of features, and you’d like to view properties that might fit the bill. If you find the ideal mountain home, you’re ready to make an offer. However, you’re slightly concerned about another buyer swooping in and grabbing the house while you’re trying to negotiate a good deal.
Here’s some good news: The odds of that outcome will be much lower during the holiday season. Simply put, there aren’t as many buyers looking at homes, so your chances of making a successful offer are considerably better.
Increased Seller Motivation
If a seller puts their home on the market during the holidays, there’s an important reason behind that decision. Family concerns, a sudden job relocation, or a desire to change locales could be the cause.
Or, the seller might want to relist the property after a previous unsuccessful attempt to sell it. If the home is a foreclosed property, the bank probably wants to remove the house from its books before the calendar year ends.
Regardless of the source, a holiday-season seller is often highly motivated to make a deal and move on. If you’re a private buyer who wants the home of your dreams, or an investor who wants to rent or “flip” the house, that’s a great Christmas present to your wallet.
Historically Favorable Interest Rates
Trying to get a favorable mortgage rate is like hitting a moving target. Several variables are in play, and rates often change on a day-to-day basis. Rate fluctuations can even affect your buying strategy. Riding the rate rollercoaster is exhausting, and you wonder if you’ll be able to buy the home you want without breaking your budget.
Here’s some encouraging news that may help: Historically, interest rates have trended downward during the holiday season. Basically, it’s the result of a “supply and demand” equation. With fewer real estate transactions, there’s a limited demand for mortgage loans. So, lenders may make the rate more attractive to stimulate buyers to pull the trigger.
However, remember that lower holiday-season rates aren’t guaranteed. With that said, your odds of finding hot rates, and better financing terms, may be higher during late November and December.
More Streamlined Settlement Process
Just as holiday-season home sellers might be more motivated, so are agents, realtors, lenders, and even home inspectors. Let’s face it: everyone wants a little January cash, so they’d like to get their deal wrapped up before the end of the calendar year. This might make everyone work a bit harder to speed up the settlement process.
With that said, all parties likely have numerous personal commitments during those few hectic weeks. Family and business get-togethers, neighborhood parties, and other gatherings are often planned well in advance. So, respect the schedules of all the players in your home buying purchase. By doing that, you might just find that everything comes together better than you could have imagined.
Why the Holidays Are a Good Time to Sell
Reduced Seller Competition
Many sellers wait until spring to put their home on the market, reasoning that they’ll get the highest price during the spring and summer months. However, studies have demonstrated that homes listed during the holidays can sell more quickly and for a higher price than those listed during the springtime.
Again, it’s the “supply and demand” equation at work. With limited choices for home buyers, especially in desirable neighborhoods, sellers may be able to command a higher asking price.
Buyers Who Mean Business
If you’ve spent time and money preparing to sell your home, you want serious buyers who are ready to make their move when they find the right house. Stated another way, you’re not eager to entertain casual home shoppers who enjoy touring properties but haven’t much intention of buying one.
Fortunately, you’ll have a better chance of attracting serious home buyers during the holiday season. While casual browsers enjoy other diversions, dedicated buyers have done their homework and are determined to find a home that meets their needs.
Inviting Home and Neighborhood
Let’s face it: first impressions really do count. When a potential buyer pulls into your driveway, you want them to be excited about viewing your home, as that’s the first step to a sale. So, clear your driveway of snow and ice so the buyer can easily get to the front door. When they walk inside your house, you want them to experience comfort and warmth.
During the holiday season, it’s much easier to create an inviting atmosphere that makes potential buyers feel right at home. Keep the heat turned up, and let the aroma of freshly baked cookies waft throughout the house. Holiday decorations, including fresh greenery, will also help to create a festive vibe.
Tastefully decorating your home’s exterior also helps to convey a sense of merriment and excitement. If your community decorates its entryway, light poles, and common areas, that’s even better. Taken together, all of these factors help to welcome potential buyers to your home and neighborhood.
Good Options for Transferred Employees
Some home buyers are moving because of an upcoming job transfer. As a result, they may spend some of their holiday season in house-hunting mode. In other words, they’re on a timetable, so they can’t wait until spring to sift through the multitude of available properties. They need to settle on a home, and complete the moving process, as quickly as possible.
So, help them out by getting your home on the market quickly. With reduced inventory, and with the possibility of attracting a higher price because of fewer choices, you’ll have a good chance of achieving the outcome you want.
So, if buying a home in Murphy, North Carolina is on your short list, schedule some time to view intriguing properties during this holiday season. Or, if you’re ready to sell your home, start making that “To Do Before Moving” List, and contact us to get the ball rolling. Either way, we’re just a phone call away!
The Poltrock Team – REMAX Mountain Properties – Murphy NC – www.ILoveMurphy.com – Call us Toll Free at 1-866-Murphy-NC or 1-866-687-7496 – Murphy’s #1 Real Estate Team