Is it just me or has the holiday season snuck up on us? Given the rollercoaster this year has been, I am confident that we will not be judged for delayed holiday cards. But sometimes things can’t wait regardless of timing and that includes placing your home on the market during the end of year festivities. Typically, I advise my clients to wait until January to sell their homes if they are considering such action in late fall, but there are some clients that have urgency. To those homeowners I say, the holiday season may be a gift.
Historically, there is less housing inventory in December which means a home for sale will have less competition. I suspect that will be magnified this year as inventory is extremely tight. Prospective buyers will not be window shopping in December. Instead their level of seriousness will lead to more actionable results and less “browsing”.
Quicker closings are also possible at this time. Savvy buyers may want to take advantage of reducing their future property tax bill as they can deduct the mortgage interest, property taxes, and interest costs of a loan if a sale closes on or before December 31. Even so, there will still be certain additional costs associated with the sale of a house. If you are selling a house in Massachusetts, for example, there are a number of closing costs you will typically have to pay. These might include the real estate agent’s commission, an attorney’s fee, state excise tax stamps, etc. To learn more about such expenses, you can visit websites like https://makingmovesinmass.com/boston-closing-costs or talk to your real estate agent about it. However, that does not mean you have to move while you still have the Elf on the Shelf. An experienced listing agent can negotiate a move-out date that is past the closing date if both parties are in agreement.
One thing we could all agree on is that placing your home on the market during this time may be disruptive if one plans to host holiday parties or extended family visits. Even holiday decorations should be kept to an absolute minimum as buyers need to see a clutter free space where they can envision their future, not your past. It would serve homeowners with their homes on the market to keep this December simple. I think after the year we’ve had, simple sounds enticing and a like a true gift.