I’ve actually been amazed at the showing activity in the last 7 days before Christmas as well as showings already scheduled for the week after. I do think this year may be different given the extension of the first time home buyer tax credit which is keeping activity levels up in the Charleston area. Perhaps, now that people have some time off, they are utilizing it to see properties. Within a 10 day period, we’ve had 18 showings scheduled, 1 of which is a 2nd showing, and 2 listings had positive feedback that the house was on the short list. I hope sellers aren’t waiting too long after the new year to put the house on the market as it seems that buyers are out and about. In addition, the Fed seems to be alluding that interest rates may rise as early as March. While 6% is still not bad, there is a payment difference between 5 and 6% of approximately $150 on a $250,000 financed amount. For those that are planning a move, it’s a good time to keep an eye on interest rates. In the mean time, I suspect or at least hope that we’ll be getting offers soon. Are you seeing good activity in your market too?
I have heard the best time to buy a car and a home is around Christmas time.
Hi Michele~ It seems like the activity does slow down, but there are some homes that do show and sell over the holidays. Hope you sell a few more before the new year sets in!
With mortgage rates on the rise, a 1% increase in the rate offsets a 10% decline in the price of the home in terms of the actually monthly cost of the home. Within the past 2 weeks mortgage rates have bounced off their year lows by nearly 0.500%. Home affordability is slipping through prospective home buyers hands like the sands of time. As Walt Disney stated, "Keep Moving Forward."
Michele,
The first two weeks of December were dead, but the last two have been as busy as ever. Or I should say busier than ever!
Best of luck selling those Charleston homes, and have some boiled peanuts for me!
Heather-I've always thought winter was a better time to negotiate a better deal on a home as well.
Vicky-This December has been unusually busy for us. Best wishes for you in 2010!
James-Your argument is probably one of the top reasons savvy buyers are out there looking right now.
John-We do have weather on our side. Hope 2010 is good to you.
Rich-Glad to hear you are having the same result. Cajun boiled peanuts are my favorite.
Always a good time to buy or sell isn't it. Even during the holidays. What would make a better gift than a home for your family.
If a home is priced right, it can sell at any time of year. Happy New Year Michele!
Every year I hear this and every year I make more sales than any other time of year. (Really kind of sad that people think this way) But, I guess when they see their agent leave town because it is slow, they tend to believe it.
131,844
Comments(8)