Still Time to Be Home for the Holidays

 Today is Veterans Day, and that marks, for us in real estate, the beginning of the rush toward the end of the calendar year.  There are about seven weeks left, and that's just enough time to buy before December 31st.  But not with too much time to spare!

As we've often posted, transactions can proceed more quickly in this season.  The holidays won't be the same this year, but that means that more people can move, because they won't be giving or attending so many parties--hopefully not any.  Days off at this juncture--and many people saved vacation days and then couldn't use them, so need to take them now--can be devoted to packing and unpacking.  Long weekend days, that used to be full of errands, brunch, gyms, and shopping, can now be used getting a house ready for inspection, or for decorating your new home.

This year in particular, buyers who have been waiting should be motivated to act now, since restrictions on activities have been increasing, not loosening.  If you are going to be in lockdown, or working/studying from home, don't you want it to be in the home you've been craving?  Get the space you need soon, so that you can enjoy it in the months ahead.  

Real estate is almost alone among industries (except, of course, for delivery services) in having a boom year.  Don't expect that you will get a bargain, even as the traditional selling season wanes.  Supply is very short--about one month in most of our New Haven/Middlesex region.  That means that you should jump on anything you see that meets your needs.  Consider not just what you think the "market price" should be, but what it's worth to you.  With all those extra hours at home, you can amortize the cost of your new home easily.  In addition, with such low interest rates, you will be able to buy more at the same monthly payment amount.

Many people sat on the sidelines for the past few weeks, mesmerized by the election.  It's over, and the year is almost over also.  It's time to find, if not your forever home, your pandemic place.  It's out there, waiting for you to make it your home for the holidays. 

Home for the Holidays

Although I write almost every year about the best time to buy a home--between Halloween and Thanksgiving--and the reason is that people are very motivated to sell at that point, I should also mention that there is one other tip.  If you have a home that is decorated beautifully for the holidays each year, and it is in mint condition, there are always some buyers that have to get a home before the beginning of the new year, usually for job-related reasons, and they are among the most motivated buyers that we see all year.  They're in a hurry, are anxious to get through with the process so that they too can celebrate the holidays, and aren't interested in doing extra work to a new home.  Anything new on the market, that shows well and needs no work, is prime for this type of buyer.  So don't assume that you can't sell your home before spring.  Just think realistically about the effort involved, the showings you'll have to be flexible about, and about the premium you might receive for that extra push.  It just might be worth it. 

Decorating for the Holidays

Many people decide not to try to sell homes during the holiday season. For those that do, or must, it helps that they are in the minority.  Buyers may be fewer in December, but those that are out there are motivated!  Sellers have the option to stand out twice:  once for having a home on the market at all; and again for decorating their home to best advantage.  That doesn't mean giant blow-up Santas all over the yard, but tasteful wreaths, firs, and trees are always nice, and they smell good too!  Holiday baking adds other wonderful odors, and helps buyers to imagine happy times in a new home.  Classy decorations can also draw attention to a home's best features, such as a mantel or fireplace, and away from other clutter or tired areas.  A fire can add warmth, and coziness.

I'd like to say that I learned all this on my own, or through my own intuition, but actually I got it from a friend, who sold at top dollar in December.  Some of that was luck, but the mistletoe couldn't have hurt!

The Timing for 2013 is Still Off

I've reported before that Connecticut lost a month in February, due to the Great Blizzard, and that everything was later than usual this spring, from food to flowers to sales. Spring was very slow in arriving, with cold temperatures and lots of rain into June.

 It's interesting that, in this day and age, weather still plays such a large role. People are disinclined to look at property in snow and rain, and sellers know that their properties won't show to best advantage on dark, dreary, wet days.  However, lives go on, and moves are necessary, so we found this year that the summer was much busier than usual.  Even with temperatures in the nineties, July was hopping.  August was full of closings, with one of our offices having the best month it has ever had in any season!

Late August brought cooler weather--briefly--and September entered, with holidays and schools starting, and, surprisingly, it's slow.  The past two weeks have been quiet, with few phone calls and new listings.  We're certainly ahead of last year, but we're not on the same timeline.  It may be a booming holiday season, if the traditional fall market goes into November and even December!

Decorating for the Holidays

Are you the kind of person who puts up increasingly elaborate Christmas decorations every year, beginning on the day after Thanksgiving?  Do you bake dozens of cookies and special ethnic Christmas treats, filling your home with delicious odors for weeks before the actual holiday?  Do you entertain during the holiday season, keeping your house in tip-top shape for viewing?

If you answered yes to one or more of these questions, you may be a candidate for putting your home on the market now.  While there are fewer buyers at this time of year, it turns out that the ones that do look are more serious, on the whole, than the average person.  They also tend to want to move more quickly, as they may be starting new jobs after the first of the year.  Therefore, you can both reduce your competition by listing when others do not, and increase your chances of a serious buyer or two.

So, if you are up for keeping your house clean and tidy for the next few weeks, and you are otherwise ready to list, go for it.  Just remember that Santa will leave soot when he comes down the chimney, so don't schedule any showings for early on Christmas morning!