Jenny put together a great list of reasons why buying and selling in November and December may present great opportunities.
Is now a good time for you?
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Many people feel that November and December are less than stellar months to buy or sell a home. I don't believe there is ever a bad time of year to make a real estate transaction. Here are 10 reasons why these months present great opportunities.
1. Unmotivated sellers take their homes off the market. Therefore there is LESS COMPETITION for serious sellers. Unmotivated sellers will put their homes back on the market in January when a rush of other will also. Chances are they still won't sell unless they are priced correctly and show well.
2. Homes SHOW WELL over the holidays. Seasonal decorations, warm fires, wonderful smells from the kitchen entice buyers. TIP: Leave some cookies on a plate for the potential buyers.
3.There may be LESS SHOWINGS but most showings will be from SERIOUS BUYERS. People are busy at this time of year and if they are out looking at homes they are usually MOTIVATED TO BUY.
4. Buyers who have just sold their homes in the FALL MARKET are looking to buy another home. These are FIRM BUYERS. Many want to be in their new home for Christmas. TIP: Treat offers from firm buyers like gold.
5.Selling your home in November or December gives you the opportunity to wait until the New Year to buy. There will be more inventory and you will be in the driver's seat.
6. Many buyers getting transferred need to relocate for the New Year. Chances are they are scouting for a new home during the holiday season when they have time to bring their family to look.
7. Many people buy homes or condos for their children who are beginning College or University in January. If you live in a College or University area this is prime time to sell. TIP: If you live in a college or university town, you should consider buying an investment property to rent out to students.
8. For BUYERS, there may be more room to NEGOTIATE PRICE as most sellers on the market are MOTIVATED to sell.
9. REALTORS are not usually as busy at this time of year. You will receive their undivided and devoted attention. The same goes for lawyers, mortgage brokers, moving companies, etc. Moving costs may be reduced.
10. Don't forget that life circumstances force people to buy and sell at any time of the year. The market for marriage, divorce, retirement, inheritance, empty nest syndrome, first time buyer, single buyer DOESN'T STOP in November and December.
TIP: Consider the months of November and December as Opportunity Time.
Jenny Kotulak Broker - RE/MAX Aboutowne Realty Corp. Brokerage, Oakville, Ontario 905-842-7000