Though it may be popular to sell and buy houses during the peak spring and summer seasons, the holiday season is also a good one, helping sellers maintain healthy real estate values while still making it easier for shoppers to buy homes they love.
Here is a look at some of the best reasons to buy and sell a home during this magical time of year. And as a bonus, we are throwing in helpful holiday design tips to improve a sale.
A Nice Year-End Tax Break
Buyers and sellers can take advantage of tax benefits at an ideal time of year. Some parts of a real estate purchase are deductible, such as mortgage interest, private mortgage insurance (PMI) premiums, and real estate taxes such as real estate capital gains taxes. Being able to take advantage of these benefits during the end-of-the-year tax season brings advantages when you need them most, rather than delaying the benefits until the next fiscal year.
Benefits for Buyers
A buyer can take advantage of mortgage-rate deductions on mortgage interest and property taxes. For homeowners with multiple residences or for those who buy houses to flip, these benefits are available for multiple homes at once. There are some exceptions to the amount that can be deducted, so it will be important to consult a tax professional.
Benefits for Sellers
A seller can also deduct mortgage interest and discount points, and if the home loan is paid off from the sale, the seller can deduct points that are yet to be deducted all at one time. A seller can also deduct the costs associated with selling the real estate, as well as the costs associated with repairs and improvements. Improvements are deducted over multiple years, but the repairs are deductible right away.
To learn more details about the financial benefits of buying and selling real estate this time of year, click here.
Less Competition for Real Estate
Colder weather and fewer homes on the market during the holidays creates a happy medium for buyers and sellers.
Benefits for Buyers
With fewer shoppers looking for homes and land for sale, buyers have less risk of competing bids that can inflate the value of the real estate. And with less competition, a buyer also has a stronger chance of landing a purchase.
Benefits for Sellers
With less real estate on the market, sellers have less competition, creating a stronger focus on their homes and maintaining strong real estate value. And buyers are more serious this time of year. There are far fewer looky-loos. This time of year also brings more job transfers, boosting demand for a new place to call home. The typical shopper is looking seriously for a house to buy, and you can ask for a stronger selling price by focusing on buyers with the strongest need.
The Internet is Real Estate’s Best Friend
The primary place for real estate shopping, regardless of the time of year or any Austin shelter shelter-in-place orders, is within the comfort of home. The internet brings advantages to both buyers and sellers during the cold winter season.
Benefits for Buyers
Buyers can easily shop real estate listings and separate the good from bad to minimize the time in the cold while still taking advantage of fairer prices this time of year.
Most real estate listings are found online and provide the important information buyers need. Companies like us keep a running list of homes for sale with photos and a wealth of data for smarter buying decisions. Buyers get a good look at the design, see how it looks in warmer times of the year, and learn important details like the real estate location, pricing, buying history, home size, and the number of bedrooms and baths.
A buyer will get a quick understanding of the home’s condition and the price in relation to that condition, all over a warm cup of cocoa.
Benefits for Sellers
As stated above, sellers can showcase pictures of their real estate in different seasons to show its year-round beauty and provide detailed information buyers need to help speed up a decision more comfortably. And by providing a clear understanding of their real estate to buyers, sellers gain interested shoppers who have filtered their interests and chosen you as a possibility, and these buyers are ready to buy!
Time Off for Real Estate Shopping
Ah, holiday breaks. These are times for people to sleep in, relax with family, and enjoy quality time away from work. It is also a great time to buy houses.
Benefits for Buyers
For sellers who are looking to sell their real estate after spring and summer, the holiday season gives shoppers enough time to enjoy some much-needed downtime from job stress and spend more time shopping homes. Buyers avoid the craziness and intensity associated with buying houses during the busier time of year while enjoying less competitive bidding, which can add up to serious savings.
Benefits for Sellers
Sellers attract more buyers while they have time to shop, and since the buyers are fewer and more serious, the sellers can spend more time explaining their real estate benefits to the right individuals to secure a final sale at the right real estate value.
Good Mortgage Rates:
Though mortgage rates aren’t necessarily seasonal, this season is proving to be a good one. And this time of year brings other lender benefits.
Benefits for Buyers
During the holidays there are less homes and land for sale versus the peak selling time of year, but this also means less business for mortgage companies, and buyers can benefit. Some companies may have more flexibility in their fees.
Combined with low mortgage rates, buyers are less prone to bleeding their savings and can even buy houses that were previously out of reach.
Benefits for Sellers
The benefits listed above bring more buyers into the real estate market and, combined with the characteristic high demand for properties in Austin, Texas, as well as more ability for buyers to pay more, sellers stand to benefit.
A Time to Enjoy the Homey Side of Real Estate
The cold weather of the holidays brings people indoors, and the cozier a home is, the more they will want it.
Benefits for Buyers
When people look for a house to buy during the holiday season, they have a first-hand look (and feel) of how a house functions during the cold time of the year. They also get a feel for what Thanksgiving and Christmases will be like. They can still see online how the real estate looks during other times of the year. But experiencing the warm and inviting feel of a home when the time counts can seal the deal. It’s like a bow on a present.
Benefits for Sellers
This is an opportunity to help buyers experience the benefits of living in the home for sale. It’s a time to light the fire, set out the blankets, serve hot cocoa and cookies, and display tasteful decorations that show off your home’s potential.
A buyer will tour a home more slowly and happily with a warm drink and cookie, and because they take their time, the benefits of each room are appreciated. Sellers can show their home’s entertaining capability with a nicely decorated dining table. They can even put a pie in the oven. The cozier the home is, the more shoppers will want to enjoy their tour and the more a seller can engage in deeper conversations with these high-potential buyers.
Additional Tips for Sellers of Real Estate
Here is another benefit some sellers may appreciate, as well as important design tips all sellers should know.
It’s a Great Time to Sell that Challenging Home
With less competition, buyers can’t afford to be too picky, and If sellers are listing less-than-ideal homes during the busy season, they face the overwhelming competition of higher quality real estate and become drowned out. The holidays bring more focus and appreciation for any available real estate while collecting buyers that are more serious about purchasing. Though buyers are always on the lookout for cheap houses for sale, selling a challenging home from a shorter list of competition helps ensure a good price.
Tips for Selling During the Holidays
The holidays are all about family and warmth. Showcasing the beauty and “warm and fuzzy” aspects of real estate is the best way to sell it.
- Make it beautiful and inviting with a decorated dining table, heart-warming imagery, and lots of blankets and pillows. Light the fire and keep an equally-warm vibe in the air.
- Keep in mind that this time of year causes trees to lose their leaves, exposing more of your real estate than other times of the year. This may mean you need to paint the exterior here and there. And be sure to do a good exterior cleaning. Remove dead leaves from the lawn and gutters.
- The holidays are here but don’t go crazy ringing them in. Overdecorating can hide the bones of the home, which is important to buyers. Stay tasteful and in line with the home’s design. It should complement the home but also not detract buyers from their goals.
- Be sure to post photos online of your real estate from warmer times of the year like spring or summer, so buyers have a year-around understanding of what they are buying.
- Ensure you find a realtor who is local and available during the holiday season. Since ideal shopping times are often during holiday breaks, if your realtor isn’t around, you will most likely lose out on a good sale. We have plenty of realtors who can help.
Conclusion
The holidays are beneficial to everyone. When the cold sets in here in Austin, buyers can still do quality research and will still have time to fit in relaxing tours. When the time comes to buy, buyers have a better chance to land a sale, and with the benefit of lower mortgage rates this year.
Sellers can still achieve quality buyers without underbidding, and having an experienced realtor at your side makes a huge difference.
Contact us to find a quality realtor and the latest real estate listings in your area.
