Should I buy a Home during the Holidays?
This may not be a question of should you buy, but you may need to buy. Typically those that are buying and selling in the holiday season don’t do so out of choice. There’s usually a reason people are selling and buying. Many times it’s a great time for buyers since homes are usually marked below market value or much less than they would list come springtime.
Sellers on the other hand, are usually selling this time of year because they need to. Either a job change, lifestyle change, short sale, or any other major life event has caused the home to be listed at this time of the year. This doesn’t necessarily mean it’s a bad time of year to sell but it can be a great time to buy.
Many times sellers that are listing their home during the holiday season which runs from November to about the middle of January, tend to price their homes much lower than the typical market value. They need to sell and they need to sell fast. Buyers are likely to find a great deal even on short sales and foreclosures. Although banks really don’t have a holiday season, they still can price their homes lower than they normally would during the year.
But the real gem is an owner occupied home that needs to sell immediately. Many times they are priced far below even the closest short sale property. These sellers are motivated and need to get out from underneath their home quickly. You’re likely to find a shorter closing time as well especially if you’re dealing with owner occupied sellers. They either need to stay in the home through the major holiday season or move and get out and settled in their new home before the season really hits. If you’re a buyer it’s a great time to jump on board get a great deal and movie and within a month.
I would love to show you some of the great homes for sale around the Portland area this time of year. Put on your hat, wrap up your scarf, don your gloves and let’s go look at some Portland properties.