Why November & December really are GREAT times to sell!!!
It seems lots of home owners hesitate to market their homes between Halloween and New Year’s Day. They believe the holiday season to be an off-peak time to sell. This really is just a myth!
In fact, there are several studies that show, on the average, homes which are listed during this time are more likely to sell, quicker, and closer to the asking price. November has some advantages that make it an excellent time to sell. Here are three reasons why Thanksgiving & the Holiday months might be the best time to sell your home.
1) MORE MOTIVATION
Parents usually want to wait until summer to move school-aged children, right? What most people are not aware of – IS – a large portion of the Buyers today are not parents of school-aged children, therefore their decisions are not entirely based on kids’ schedules.
If Buyers are searching for a home in November, they’ve either…a) waited through the busy season in hopes of a better deal, or….b) they’re dealing with their own time constraints due to work issues or other reasons. For these reasons, highly motivated buyers, the traditional obstacles to winter house-hunting — bad weather, short days, holiday prepping — really don’t apply. If your house is ready, willing and waiting for Buyers to view in October/November, these buyers are more likely to make an offer close to listing price.
2) LESS COMPETITION
Because of the misleading ideas about home selling during winter, it’s very true that many sellers don’t think it’s worth their time and effort to try and sell their homes toward the end of the year. Unfortunately, they take their homes off the market. Their loss of a potential buyer is your gain!
Serious buyers have way too few homes to choose from over the holidays. The take away from this? LESS competition for you —more buyers checking out your even MORE desirable home, whether it’s online or in person. That’s a great thing!
3) CAN YOU SAY…TAX BENEFITS?
So…a house marketed in October/November may entice buyers looking for year-end tax breaks. WHAT? Bet you didn’t think about that! Buyers looking to lower their taxes may grab up a home late in the year precisely so they can deduct home purchase costs. That includes points, interest and property taxes (check with your CPA to be sure of your situation).
Additionally, if someone sold a house during the usual summer season and faces capital gains tax on the deal (because he/she is an investor or lived in the house for fewer than two years), there may be motivation to buy in October/November since closing on the purchase of another house within 180 days lets him avoid paying capital gains tax.
Pretty darn solid reasons for selling your home in winter months I’d say…wouldn’t you?