If you are thinking about selling your home at the end of the year, but do not think anyone will buy it in November or December, think again. Back in 2014, Forbes reported that homes listed this time of year were more likely to sell quickly and closer to the asking price.
In the first seven days of November, there have already been almost 30 home sales in Coral Springs. 8 homes have sold in Parkland during the same time.
If you are ready, it is not too late to take advantage of the six mitigating factors that push people to buy a home this time of year:
Selling your home at the end of the year makes sense when you consider that many people here in South Florida have guests visiting from up north. Buying a home before the holidays makes it easier to accommodate family and friends from out of town. That is one reason why people start home shopping in early November.
Buyers looking for a new home around the holidays are usually serious and ready to make a deal. Take advantage of that fact by putting your home up for sale right now.
Some buyers think of the end of November and December as the slower times to sell a house. They believe they can get a good price from a “desperate” seller. They may also be motivated to buy due to any of the other factors on this list. After all, there is motivation to getting the tax savings we will soon discuss.
For buyers, being able to sell their home and start the new year off without that hassle is a motivating factor. Selling your home at the end of the year lets you begin January with a fresh start. Home buyers looking this time of the year are highly motivated. You may get an offer closer to your listing price than during a busier time of the year. Also, you may be able to negotiate staying in your house even after the closing. Some buyers want the tax savings but are not ready to move yet.
Many people still believe that people do not buy homes in November and December, so they wait until the spring to put their houses up for sale. That is when competition often gets steep. Families wait until school is almost over before looking to move – especially if it means changing school zones.
Selling your home at the end of the year often means there are fewer homes on the market. Buyers tend to take their homes off the market this time of year because they do not want the hassle of showing it over the holidays. Putting your house up for sale at this time might bring you more prospective buyers with less competition.
Some people want to maximize their tax deductions. They may look to purchase a home before year-end to deduct home purchase costs such as closing fees, points, and interest.
Also, buyers who previously sold their homes during the year could be anticipating capital gains taxes. They may face this prospect if they lived in the home for less than two years before selling it. Of course, tax concerns should always be discussed with a certified professional accountant.
No matter what holiday you celebrate, the addition of decorations can give your home that festive look. Potential buyers will be able to envision future holidays there with family and friends.
As an added note, the holidays often make people feel more emotional. That connection can help you get a higher price for your home.
The start of the year is when some people begin new jobs. Relocating for work means they need to find a new home – fast. They cannot wait until the spring to start their house-hunting. By selling your home at the end of the year, you take advantage of this segment of the market.
Have questions? Ready to sell? If so, contact the team at Great Florida Homes at (954) 695-7653 We are here to help you sell your existing home or buy a new home.
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