6 Reasons to List Your Home During the Holidays
Waiting until next year to sell your home can cost you time and money.
While some homeowners wait until the spring to list their home and others take their home off the market during the holidays, savvy sellers take advantage.
Here are SIX great reasons NOT to wait:
1. There may be fewer buyers during the holidays, but those out shopping for a new home mean business and are ready to buy.
2. There are fewer homes available for sale during the holidays. Less competition equals more money.
3. Your home shows (and smells) better when decorated for the holidays. Plus...emotions, emotions, emotions. It's the most wonderful time of the year.
4. Our friends ("The Snowbirds") are in town! The seasonal population increases as northerners and Art Baselers migrate to South Florida to get away from freezing temperatures.
More happy out-of-town visitors equals more potential buyers. More potential buyers equals more money.
Pro Tip: Use weather (and art) to your advantage.
5. Winter home buyers may be motivated to capture the tax benefits of buying a home before year-end. Home buyers can write off some of the expenses of their purchase and count on expenses such as mortgage interest, private mortgage insurance premiums, and real estate taxes to be tax deductible.
6. Mortgage rates are still historically low. However, most industry experts believe mortgage rates will rise above 5% next year, with some predicting rates to rise a full point from today's rates to 5.8% by year's end.
Higher mortgage rates decrease housing affordability and have the potential to lower demand for home purchases.
Less demand equals...you guessed it...less money.