The Real Estate market enters an awkward period between Thanksgiving and New Years, and it affects Sellers and Buyers in different ways.
Prospective buyers who have not yet made their anticipated move for the year fall into one of two categories. One set of buyers must sell their current home before buying the next. This group tends to get caught up in the holiday cheer and/or chaos, and will postpone their search until the New Year. After all, they still have a place to rest their heads.
The other group of buyers is renting either an apartment or an extended-stay suite in a local motel. This group has the flexibility to move with 30 days notice and, although they too are caught up in the holiday revelry, will often still sneak in some house viewing, especially if something new comes on the market.
Consequently, the sellers are caught in this sales process. As Thanksgiving approaches each year, I hear the same question from my current listing clients: “Should I take my house off the market during the holidays???” When asked why, the response I most often get is that they will be very busy and do not want to take on the additional hassle. This question always sets me back a bit because, not a month before, these same sellers tallied the number of showings at their home and anxiously awaited feedback. Funny thing is, if a home is not under deposit by Thanksgiving, any subsequent offers will not schedule to close until after the New Year. With the contract-to-closing timeframe of 45 to 60 days (mostly due to financing) if your home has not sold by Thanksgiving, you will not be moving until the next calendar year. So would I recommend taking your house off of the market?? The only thing I can guarantee if you take your house off the market is that it definitely will NOT sell!!
Conversely, when do most homes in
And the last reason you should not take your home off the market during the holiday season is the aforementioned buyers. There is no one more motivated than a relocating buyer who is facing the prospect of spending Christmas morning in a cramped motel room by the interstate, convincing their kids that Santa’s sleighbells sound strangely like a Mack truck this year. This group of buyers remains relatively active in the market, anything to get their minds off the not-so-sweet suite. And the sooner they are settled, the better. What better gift to give your relocating spouse but a new home??
So to the sellers: string the lights, turn up the Christmas Carols and bake the sugar cookies you were going to make anyway. It is all good and you may be surprised what Santa leaves under your tree. Nothing like a freshly written offer from a Comfy Suite Christmas Client!
‘Tis the season of giving and with all this discussion about folks between homes, please consider the following. One of my favorite organizations in the
MISSION STATEMENT AND CORE VALUES
The Committee on Temporary Shelter provides emergency shelter, services, and housing for people who are homeless or marginally housed in
We believe:
- in the value and dignity of every human life.
- that housing is a fundamental human right.
- that emergency shelter is not the solution to homelessness
If you are looking for a worthy charity and have just a little more to give during the holidays, consider making a donation of your time or resources. You never know whose head you will be providing a safe place to lay for the night. Visit http://www.cotsonline.org/ for more information.
Happy Holidays!
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