There are certain commonly accepted “truths” in the business of buying and selling homes, which are only partially correct. Today we will discuss the “truth” that the best time to sell your home is during the spring and summer seasons. While it is true that buyers tend to purchase homes during the warmer seasons, that doesn’t mean that there is a shortage of serious buyers during the winter season.
Selling your home during the holiday season has the distinct potential to result in your home selling faster, and for more money. This is true for three simple reasons.
1. A Lower Supply of Homes for Sale Increase the Equilibrium Value Point
A natural corollary to the widely accepted notion that homes don’t sell during the winter seasons, is that there are fewer houses on the market. Thus, placing your home on the market during the holiday seasons means there will be fewer houses vying for the attention of potential buyers. The net result is that more potential purchasers will view your home, which increases the chance that an offer will be made.
While this is an overly simplistic explanation of economics, supply and demand dictate the price of an item; this price point is referred to as the equilibrium price. Assuming demand stays the same, and supply (of houses for sale) has dropped, the equilibrium price increases. Taking advantage of an opportunity to sell your home for more should be reason enough to list your home during the holiday seasons.
2. People Looking to Purchase a Home During the Holidays are Necessarily Motivated Buyers – Increasing the Speed and Price at Which Your Home Sells
Let’s be realistic – most people use their extra free time during the holidays to celebrate with friends and family. If someone is searching for a home to purchase during the holidays, they are clearly interested in closing the deal quickly. Regardless of the reason they are looking to buy a home, you can be confident that they are serious about purchasing a home, and not just window shopping.
3. Sensible Holiday Decorations Show Your House in the Best Light (Pun Intended)
It should be common knowledge that emotion is a major factor in buying a home; this is the place where they will raise their family and enjoy gatherings for years to come – why not show them what that would look like? Tasteful decorations and a clean yard will give potential buyers an opportunity to see the true potential of your home. It is important to note that the holidays are the only opportunity you will have to portray your home in this fashion. If a potential buyer sees your house with Christmas lights in February, you look like a crazy person. if they see the same lights on Christmas, you’re just celebrating.
Dennis Chernov and the Chernov Team are always looking for ways to provide their Studio City clients the maximum benefit of their services. Listing your home during the holiday seasons can have a profound impact on the speed and price which your home sells. Take advantage of a high-demand, low-supply, market today!