The Holiday Season is a Great Time to Buy or Sell A Home!
For many people, the thought of buying or selling a home during the holidays seems overwhelming. How can you possibly fit all your shopping, entertaining and home buying/selling in before the end of the year? But taking advantage of a typically slower winter season in San Diego and surrounding areas can sometimes prove to be very beneficial. More and more real estate experts are advising their San Diego and La Jolla clients to list or buy their homes around the holidays.
The advantage for people selling a home in San Diego or La Jolla during the holiday season: serious buyers and less competition. The inventory of for-sale homes is usually much less during this period. For home buyers, better pricing and terms are likely since you are negotiating with a seller who is very motivated.
Generally, many sellers wait until January 1 to sell or buy homes. The San Diego and La Jolla real estate market becomes flooded with new listings, which translates to more competition. The holiday season creates an opportunity for unique pricing and specialized buyers. Fewer homes are generally sold and bought during this time, yet the holiday season does account for a hefty amount of sales.
Here is a look at some recent sales figures for San Diego County for homes sold during each seasons:
According to DataQuick, San Diego County homes that were sold in the winter season over the last 4 years made up about 22% of all annual sales. The average escrow takes 30-45 days, so homes that open escrow near Thanksgiving on through Christmas are closing at the end of December through February. The most recent 12-month period from Sept. 2012 to August 2013 shows that winter home sales in San Diego County accounted for 21%. Summer saw 28%, spring 27% and fall 23%, in comparison.
Many buyers in the San Diego and La Jolla areas are looking for second homes or investment properties and the holiday season is a great time to get involved in the real estate market. Buyers are coming to San Diego to spend time with their families during the holidays, while shopping for a home. Others are trying to buy a home before December 31 to qualify for the tax deductions that come with buying a real estate property.
Homes that are on the market during the holidays generally show better because the curb appeal is higher. Decorations are in full force and houses look their best. Potential buyers can visualize celebrating in that house and making their own memories.
REASONS FOR LISTING HOME DURING THE HOLIDAYS
- More Time: Home buyers have more time to look over the holidays. They can tour your home during the weekdays instead of interrupting your weekends.
- Better Schedule: Home showings and closings can be scheduled around celebrations and out-of-town guests.
- Getting Emotional: Home buyers can be emotional during the holidays, which may lead to spending more on the right house.
REASONS FOR BUYING HOME DURING THE HOLIDAYS
- Motivation: Sellers who are more motivated could agree to more favorable terms.
- Quick Closings: Closings may be faster. Even when factoring in the holidays and office closures, there are fewer overall transactions for lenders to manage.
- Rates: Mortgage rates are still low and it is a perfect time to take advantage.
Whatever you motivation to buy or sell a home, the holiday season can be a great time to do this. Let The Daniels Group help you buy or sell your La Jolla home! As consistent Top Producers in real estate, Linda Daniels and The Daniels Group are your La Jolla housing specialists. Working with The Daniels Group will give you with the advantage of having local experts to ensure that you have a successful real estate transaction. From buying, selling and investing to financing options and more, we have the expertise and resources to help you achieve your goals. Call us today at (858) 361-5561 or email us anytime by clicking here.