Whoever said no business happens during the holidays has been living under Santa's sleigh the past 5 years.
While some homeowners wait until March or April 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. The supply of homes available for sale increases after the new year when those who waited, list their homes. More competition equals less money.
6. Mortgage rates are still historically low. However, "top economists at the Mortgage Bankers Association believe that mortgage rates will rise to 4.60% next year, then above 5% in 2019 and 2020.
This means that a buyer purchasing a new home with 20% down at the current Coral Gables median home price of $864,000 would now have to pay $3,543 per month at a 4.60% rate, versus $3,276 at a 3.94% rate - an increase of $267 per month or $3,204 per year.
As you can see, higher mortgage rates decrease housing affordability and have the potential to lower demand for home purchases.
Less demand equals...you guessed it...less money.
Thinking about selling your home?
Don't wait until next year to start planning and preparing. Contact us today.
Let's talk about your goals and how we can help you devise a plan to achieve them. No gimmicks. No pressure. Just professional advice based on experience and market expertise.