SELLERS: Should we sell our home during the Holiday Season?

Hi Everyone-

Many buyers and sellers have been asking me whether they should change their strategy now that the holiday season is here. The following is a two part response. Here is part 2, which is for SELLERS:

SELLERS: Should you SELL a home during the Holiday Season?
Conventional thinking is that the holiday season is a harder time to net the most out of your sale. I would say this definitely has some truth and is grounded in sound logic. There are less buyers out there over the holidays, and the holiday season is a time where homes are decorated in a much more personal manner, which can make potential buyers have a harder time seeing themselves there.

Really, in the end, it is a case by case basis. If you are not decorating your home, or the property is vacant, you home will show the same. The benefit of selling your home during the holidays is that the buyers are serious, and as long as you are open to the negotiation process and have a hardworking agent, you should ultimately be able to find a buyer who is willing to pay a market value for your home. Buyers who are making offers during the holidays aren't discount mentality shoppers. They are obviously serious.

All this said, here is a list of 10 things you can possibly do that may make your home more saleable over the holidays:

1. Deck the halls, but don't go overboard.
   Homes often look their best during the holidays, but sellers should be careful not to overdo it on the decor. Adornments that are too large or too many can crowd your home and distract buyers. Also, avoid offending buyers by opting for general fall and winter decorations rather than items with religious themes.
   
   
2. Hire a reliable real estate agent.
   That means someone who will work hard for you and won't disappear during Thanksgiving, Christmas or New Year's. Ask your friends and family if they can recommend a listing agent who will go above and beyond to get your home sold. This will ease your stress and give you more time to enjoy the season.
   
   
3. Seek out motivated buyers.
   Anyone house hunting during the holidays must have a good reason for doing so. Work with your agent to target buyers on a deadline, including people relocating for jobs in your area, investors on tax deadlines, college students and staff, and military personnel, if you live near a military base.
   
   
4. Price it to sell.
   No matter what time of year, a home that's priced low for the market will make buyers feel merry. Rather than gradually making small price reductions, many real estate agents advise sellers to slash their prices before putting a home on the market.
   
   
5. Make curb appeal a top priority.
   When autumn rolls around and the trees start to lose their leaves, maintaining the exterior of your home becomes even more important. Bare trees equal a more exposed home, so touch up the paint, clean the gutters and spruce up the yard. Keep buyers' safety in mind as well by making sure stairs and walkways are free of snow, ice and leaves.
   
   
6. Take top-notch real estate photos.
   When the weather outside is frightful, homebuyers are likely to start their house hunt from the comfort of their homes by browsing listings on the Internet. Make a good first impression by offering lots of flattering, high-quality photos of your home. If possible, have a summer or spring photo of your home available so buyers can see how it looks year-round.
   
   
7. Create a video tour for the Web.
   You'll get less foot traffic during the holidays, thanks to inclement weather and vacation plans. But shooting a video tour and posting it on the Web may attract house hunters who don't have time to physically see your home or would rather not drive in a snowstorm.
8. 
   
9. Give house hunters a place to escape from the cold.
   Make your home feel cozy and inviting during showings by cranking up the heat, playing soft classical music and offering homemade holiday treats. When you encourage buyers to spend more time in your home, you also give them more time to admire its best features.
   
   
10. Offer holiday cheer in the form of financing.
    Bah, humbug! Lenders are scrooges these days, but if you've got the means, then why not offer a home loan to a serious buyer? You could get a good rate of return on your money.
    
    
11. Relax -- the new year is just around the corner.
    The holidays are stressful enough, with gifts to buy, dinners to prepare and relatives to entertain. Take a moment to remind yourself that if you don't sell now, there's always next year, which luckily is only a few days away.

BUYERS: Should you buy a home during the holiday and New Year season?

Hi Everyone-

Many buyers and sellers have been asking me whether they should change their strategy now that the holiday season is here. The following is a two part response. The first is a great read for BUYERS:

BUYERS: Should you buy a home during the Holiday Season?
In most parts of the United States, house sales follow predictable seasonal patterns. They’re strongest in summer, and bottom out around Christmas and the New Year before picking up again in spring.

That means that late December/early January is a great time to look for a house. There are other advantages to buying at year-end, too. So if you are thinking of purchasing a home in the near future, consider fast-forwarding your plans and starting your house-hunt now.

Here are five good reasons:

1. Lower prices. A lot of people don’t have the time or the desire to look for a house during the holiday season -- they’re too busy shopping, going to holiday parties and catching up with family and friends. The slackening of demand is reflected in softer house prices. Houses that failed to sell in the pre-holiday period may be reduced; new listings -- though sparse -- will be priced to reflect the slow market, which picks up only gradually in the New Year. It’s a good time to find a bargain.

2. Less competition. With fewer active house-hunters out there, you are unlikely to end up in a bidding war that would drive up the price for the house you want or put it out of your financial reach. Less competition also means less stress for you during the bidding process.

3. Motivated sellers. Many sellers who failed to make a deal before the holidays will be very motivated now, especially if their houses have been on the market for several weeks. They will be eager to sell and to avoid scheduling their holiday plans around viewings by prospective purchasers, so they are likely to look at any reasonable offer favorably and to negotiate on price. They may also be open to requests for extras like appliances and window coverings, and to giving you the closing date you want.

4. Favorable mortgage terms. Fewer home sales translate into less demand for mortgage money during the holiday season. Lenders may be willing to shave a few basis points off the interest rate they offer you or to forgo some of their fees in order to get your business. Make sure you shop around to get the best deal available.

5. Tax deduction. If you close on or before December 31, you are likely to be eligible to deduct the interest component of your first monthly mortgage payment from your taxable income for that year. You may also be able to deduct any money you pay for points to reduce the interest rate on your loan. Consult a tax advisor to see how the mortgage interest deduction applies in your situation.