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Should We Reduce the Price on Our Long Island Home During the Holidays?

By
Real Estate Agent with Douglas Elliman Real Estate in Babylon NY

She We Reduce the Price on Our Long Island NY Home During the Holidays?

Should We Reduce the Price on Our Long Island Home During the Holidays?

It depends upon if you are priced right to begin with and how soon you want to go to closing. If you are planning on a January/February closing then reduce the price of your Long Island home now so you can a buyer this month or in December.

If you know you are overpriced and have had very little showings or not showings at all, then by all means reduce the price! Your Long Island real estate agent will be thrilled you came to your senses :)

The holidays are funny year after year. Usually this time of the year it can be on the slow side for some agents. For me, it's been non-stop. I even showed one of my listings 2 days before Thanksgiving and Thanksgiving Eve this year.

I worked with buyers last year that I showed homes to the day before Christmas Eve. January 2012, I was still busy with buyers and sellers. Who knows what this holiday season will bring as well as the beginning of 2013.

Do what your agent and your gut tells you to do and pay attention to your move out time-frame.

Call Jackie today (631) 703-0201 to find out what your Long Island NY home is worth in today's market.

Comments(8)

Amanda Christiansen
Christiansen Group Realty (260)704-0843 - Fort Wayne, IN
Christiansen Group Realty

Last November and December were our record months in real estate.                                                                      

Nov 22, 2012 09:47 PM
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Jackie,

Good advice.  If you have almost no showings, it's time to reduce.  Otherwise, we are seeing a robust market here if priced right.

All the best, Michelle

Nov 22, 2012 09:55 PM
Brian Kuhns
Coldwell Banker Roth Wehrly Graber - Fort Wayne, IN
Fort Wayne Real Estate by Brian Kuhns

I thought it was odd last year that I was so incredibly busy around the Holidays, but this year is proving to be more of the same. Get the home priced right and sellers could be celebrating some Holiday cheer for more than one reason!

Nov 23, 2012 01:06 AM
Chris and Dick Dovorany
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty

I would say NO but not alot of cheap decorations.  Instead fill the air with orange and cinnamon steeping on the stove.  If you're lucky enough to have a fireplace, this would be the time to use it.

Nov 23, 2012 01:44 AM
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

Hi Jared, you always have record months because you both are awesome agents!

Hi Michelle, You are right and we are going through the same thing here. Good inventory is slowly reducing.

Hi Brain, I found the same thing Bryan. Since hurricane Sandy, there are more displaced people are looking for homes. 

Hi Chris and Dick, Thanks and have a great weekend.

Nov 23, 2012 08:44 PM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

I got you beat, Jackie.  I had 3 showing ON Thanksgiving.  But you are right.  Overpriced, definitely reduce.  Correctly priced use your gut.

Nov 24, 2012 07:42 AM
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

Hi Jane, holy! You beat me is right. I hope you had a wonderful Thanksgiving.

Nov 24, 2012 11:41 AM
Nick T Pappas
Assoc. Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, Broker/Providence Property Mgmnt, LLC Huntsville AL - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource
Jackie, the holidays certainly can be a little hard to figure out. Last year I showed homes on Christmas Eve and New Years Eve to three different buyers each day...they all bought...holiday buyers are serious!
Nov 24, 2012 12:03 PM