Buying a Home During the Holidays? There Are Year-End Deals To Be Had!

December is typically the slowest month of the year for real estate transactions with the focus shifting to holiday traditions and spending time with family and friends. The holiday season can be stressful enough without scheduling open house appointments to your busy calendar full of festivities. That said, there are actually quite a few very good reasons you should consider continuing your house hunt during the holiday season! 

Around much of the country, wintry weather can make buying and selling a home challenging. Since we live and work in Southern California, winter temperatures obviously aren’t nearly as daunting as some other parts of the country. Here in Los Angeles, specifically, it’s been more than 50 years since temperatures fell below freezing. (The record sits at 28 degrees set in 1949!)  Since weather isn’t a factor, continuing your search for a home during the holidays could be to your advantage.

Historically, December has been the month with the fewest new real estate listings. For buyers, that may mean less inventory but it also means less competition!  When other buyers pause their search and wait until spring, those with patience who are willing to search during the holiday months may be rewarded with end-of-the-year bargains and motivated sellers. At the same time, sellers shouldn’t be afraid to sell their homes toward the end of the year. Although many buyers expect discounts to be had towards the end of the year, the current market is still very competitive compared to previous years, so sellers that are not desperate to sell stick closely to their asking prices. They should hold out for year-end buyers, especially those who are purchasing late to shield their tax liabilities.

Some sellers may find it inconvenient to show their homes during the holidays or host an open house. Their houses may be full of holiday decorations and reserved for weekends filled with family and friends. But motivated sellers won’t be among them!  They’ll still want to entice buyers by showing their homes, and less foot traffic at open houses can actually be a bonus for a discerning buyer who will have an opportunity to take more time to notice the home’s details.

 

For some, a new year will come with a new career, which means some buyers will be using the months of November and December to go house hunting. Relocating for a new job is one of the main reasons people buy homes during the holiday season. Also, buying a home before December 31st comes with a holiday gift in the form of tax breaks! Buyers are allowed to write off mortgage interest, the interest on loan costs as well as property taxes. 

If you are thinking about selling your home in the new year, please reach out to us as we have a number of buyers eager to make a move immediately!  We may be able to help you complete an off-market deal that could be less stressful and require less preparation than going to market.  

For those of you waiting for the new year and scheduled to list with us in January, we can’t wait to work with you! Highland Premiere is here for you in every season and throughout the year. Happy Holidays!