Maybe Selling During The Holidays Is Not Such A Bad Idea

I am amazed every year as we near the holidays. Countless real estate agents become like bears and begin to hibernate for the winter, waiting for spring to come to emerge from their caves to begin selling homes again. This never really made sense to me. I understand that there are usually more buyers during the spring and summer as families hope to get moved into their new homes before school starts. They want to make the move easier for their children as they transition into a new school. However, not every family buying a home has children. One of the largest demographics of buyers are baby boomers who are looking to downsize because their children have all grown up, and no longer live at home. Millennials are on average having fewer children. There have been many articles written that suggest various reasons, but many are choosing to wait until they are older to begin having kids. So buying during the holidays makes perfect sense for home buyers that fall into these or similar lifestyles.

Here Are A Few Reasons That Selling During The Holiday Makes Sense

Inventory

During the winter months there is typically a reduced inventory of homes on the market. Lower inventory means more showings for each home listed for sale. It is simple supply and demand. It is always a good idea to sell when there is less competition.

Curb Appeal

Face it, when selling a home it is not just your property that needs to appeal to potential buyers, it is also the neighborhood. Curb appeal throughout the neighborhood is usually much better during the holidays as people put up lights, wreaths, and other decorations. Driving through a well decorated neighborhood makes the buyers feel welcome, and it is a great opportunity to enhance the warmth and character of your home.

Holiday Spirit

Most people are in a better mood during the holidays. We become happier, more friendly and open to others, and often feel more generous. The holidays is a time for thinking about the upcoming year, making resolutions and goals, and becoming the owner of your home may just become one of those resolutions.

Financial Assistance From Family

Individuals are permitted under federal tax law to give as a give up to $13,000 in a single year. A married couple can give up to $26,000. Young first time home buyers often need help getting started with down payment money for their new home. There are things that buyers need to understand about using gifted money though. 

1. The diner will need to provide the mortgage company with a "gift letter" clarifying to the lender that this money was a gift and not a loan. 

2. If the buyers are getting an FHA loan the person providing the gift money may need to provide a bank statement as well. 

3. Here are things the letter will need to have.

• Donor's name, address and phone number
• Relationship of donor to buyer
• Dollar amount of the gift
• Date the gift was given
• Address of the property being purchased
• Statement from the donor that they will not require repayment of the gift
• Donor's signature

4. Other rules apply based on the type of loan, so buyers need to be sure to consult with their mortgage lender to make sure they are in compliance, and no all necessary regulations to avoid problems during underwriting.

Things To Remember About Selling During The Holidays

1. Often family and friends can be visiting with potential buyers, so expect larger groups to view the home.

2. While holiday decorations make a home feel more warm and welcoming, it can also make a home feel cluttered. Decorate, but don't over do it.

3. Be ready to show at a moments notice. Buyers like everyone else are running on tighter schedules during the holiday. Be accommodating, and keep the home show ready at all times.

Final Note

There is no bad time to sell a house. As long as it is priced well, and shows well, there will be buyers. If you are looking for a Realtor in the Atlanta area I would love to help you. I can always be reached at 770-676-8999 or by email at [email protected]