‘Tis the season and one of the BUSIEST times of the year but as they say, whoever “they” are: “There’s no place like home for the holidays!”
I am often asked if this time of year is a good time to buy or sell and my answer is a resounding “YES”! The buyers out right now are motivated and there is less competition from home sellers.
At the end of the year, businesses prepare for their upcoming quarter, causing job transfers and families wanting to get their children settled in before school starts back. We don’t have the National Association of Realtors nationwide data for November 2019 yet but here in Tampa/St. Pete, closed and pending home sales are UP over the 5-year November statistics. Home SALE PRICES are up here as well.
Lastly, new construction is wrapping up for 2019 and builders are trying to close out their books. In any instance, NOW is a great time to buy OR sell.
Here are a few quick tips if you are considering it this winter
1. Hire a qualified Realtor - Trying to sell “for sale by owner” typically increases days on market and generates a lower sales price compared to using an agent. It is always crucial to have someone marketing your home properly and who can walk you through a real estate contract. As a buyer, its completely free to hire an agent, so thats a no brainer!
2. Cozy Up - As a seller, make your home cozy. It’s true, a lot of buyers will get a “feel” from a home. When it’s cold out, make your home an inviting place to walk into. Turn on lights, soft music, and consider an appropriate temperature. Nothing gets buyers out the door faster than a hot house in the heat of summer and a cold house in the dead of winter.
3. Buyers Prepare - If you are a buyer, be prepared. You MUST have your ducks in a row, especially now when there are fewer homes available and more buyer competition. Get your pre-approval done prior to seeing homes, that way you are ready to go when making an offer.
4. Post A Video Tour - Have a video tour of your home available on the web. Personally, I do multiple videos for my clients, including a professional cinematic style one, but not all agents go to this length. A video of your home is extremely helpful to buyers, especially ones who don’t want to go out in the cold, or since we’re in Florida, out in the pouring rain!
5. Be Ready To Act Fast! - If you’re a buyer, strike while the iron is hot! The end of the year is a great time to buy as sellers are typically motivated. Also, if you close on your home purchase before the end of the year, you can deduct certain costs from your tax return including: mortgage interest, loan points, & property taxes.
6. Lastly and most importantly: PRICE TO SELL. Set your price competitively based on comparables, so you don’t sit on the market. This is especially important in the traditionally slower seasons.
In closing, as far as real estate goes, NOW is by far one of the best times to buy and sell! By using my tips and tricks, you will have a successful transaction and that is the ultimate holiday gift! I am Jen Wiggins and a local Realtor here in the Tampa/St.Pete area and am always happy to chat, even over the holidays! You can call or text me at (813) 539-1678 or on Facebook & Instagram by searching “Let’s Talk Tampa”. If you aren’t local, I would love to help you find a qualified Realtor in your area.
Thanks for reading and happy holiday home shopping- or selling!