If you’re looking to buy or sell a home in southeastern Pennsylvania, in and around Philadelphia or in Delaware, this holiday season could be the time. 
Why? Sellers are motivated to negotiate with qualified buyers, and buyers have less competition in those areas where, yes, there can be multiple offers.
You can be in your new home by Super Bowl Sunday if you act now.
For Buyers
- Lower prices. Because many people are too busy to house hunt now, the slackening of demand is reflected in softer house prices.
- Less competition. With fewer active house-hunters out there, you are unlikely to end up in a bidding war, and sellers will be willing to negotiate.
- Favorable mortgage terms. Because there is less demand for mortgage money during the holiday season, lenders may be willing to shave a few basis points off the interest rate or to forgo some of their fees in order to get your business.
- Tax deduction. If you close on or before December 31, you are likely to be eligible to deduct the interest component of your first monthly mortgage payment and any money you paid for points from your taxable income for this year.
For Sellers
- Less competition. People who look at your home over the holidays are serious buyers who have fewer homes from which to choose.
- Business moves. January is traditionallya month where employers have to move so they can’t wait until spring. They have to buy now– you’re there to capture that market.
- Advantage for you. By selling now, you have the opportunity to be a non-contingent buyer for next year when houses are less and you’ll have more opportunities and properties to choose from.
- Timing. Many potential buyers want to settle before the end of the year for tax reasons. jroosevelt@kw.com
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