- Posted 22 Dec
- 0 Comments
As the holiday period draws closer, a lot of home buyers are keeping their eyes peeled for bargains to snap up over the summer, with some experts reporting that there is an emerging trend for sellers to list earlier in the year.
Normally, over the holiday period, real estate activity tends to slow down, but over the recent years, this has not been the case.
Are you looking for a bargain? Or maybe you’re looking to make a quick sale. Check out the tips below to see how you can benefit from this time of year in real estate.
Sellers: List in January
If you want to see your house get sold quickly, list your home in mid-January. In fact, if you want to get the jump on other vendors, think about listing your property as early in January as possible, from the 10th onwards.
In fact, if you really want to sell your property quickly, consider listing it in late December, as there can be a pent-up demand for property around this time, with a huge pool of buyers just chomping at the bit.
A good strategy suggested by some real estate agents is to list your property during the week of Christmas and then hold your auction in the second week of February. By doing this, you won’t be competing with a lot of properties at the same time.
Of course this only works if you’re not looking to make a quick sale.
Buyers: Pre-Christmas Bargains
If you’re looking to buy, in the lead up to Christmas, you’ll find some great deals on properties that have been on the market for a while.
This could be because they had a failed campaign in November and as Christmas drawers nearer, the need to sell becomes higher. Offers that were laughed at earlier may be seen as more conceivable the closer Christmas gets. So it pays to circle around if you didn’t get the house you wanted and it’s still available.
As a buyer, look to take advantage of less competition during the holiday period. If you see something you like, make a strong offer. If a house has just been listed but the auction isn’t scheduled till February, they may choose to take your offer so they can just enjoy their holiday break.
But you need to ensure you’ve completed your due diligence and understand the market the house is being sold in. Your offer needs to be strong to sway them to accept it prior to auction.
The only thing that you need to be wary of when looking to buy or sell over the holiday period is that a lot of businesses close down over this time, and that includes mortgage brokers, lawyers and conveyancers.
So if you are looking right now, it pays to find out what potential delays could be in place and how this could affect your situation. Consider reaching out to these businesses now to see if there will be a skeleton team on that is able to deal with any requests you might have.
Ready to take the plunge? Chat to our team at Australian Credit and Finance today to discuss all your mortgage options and needs.