Real Estate Talk:
Selling during the Holidays

The pros and cons of selling during the festive time of year

By Joseph Marovitch

November 8, 2022

Christmas, New Year’s and all the other holidays are coming, and who wants to sell during such a festive time? Usually, not many. The holidays are a time to take a break and celebrate with family and friends. However, there are those who must sell or see the advantages of selling in December.

If you are going to sell your home during the holidays, have fun. If you are having fun, so will the buyer, and a good experience is the best way to market a home.

There are pros and cons to selling during the holidays.

Pros:

• Whoever is searching for a home during the holidays is a serious buyer otherwise why would they do it?
• Sellers selling during the holidays tend to be more negotiable as there are few buyers.
• As there are few sellers during the holidays, there is less competition.
• The few buyers out there have fewer homes to choose from.
• There may be buyers with leisure time on their hands, and shopping for a house can be a very pleasurable thing to do.
• There may be out-of-towners taking the holiday time to visit Montreal and find a home.

Cons:

• The audience of buyers is small.
• Banks are not working regular hours.
• Contractors are on vacation.
• Realtors are on vacation.
• Inspectors are on vacation.
• If all these professionals are not on vacation, they are charging a premium.

If a seller must sell, take advantage of the holidays to create a warm and inviting atmosphere. Make the house bright, clean, and comfortable. Place quilts on the couches and chairs, run the electric or gas fireplace, and bake and put out cookies. Play songs from Bing Crosby or whoever makes the house sound warm and inviting. Smile warmly and constantly. There should be a feeling of joy and warmth that make buyers want to settle in the living room and have a cup of cocoa. Then you will receive an offer.

If you are going to sell your home during the holidays, have fun. If you are having fun, so will the buyer, and a good experience is the best way to market a home.

The information I provide in these articles is a summary. Should you have questions or comments, please refer to the comments section at the bottom of the page. As well, to view past articles, click here.

Next article: The real estate advantages of recession and politics

State of the market

CPI today (inflation rate) 6.9%
Prime rate 5.95%

The market continues to soften as many buyers and sellers wait for interest rates to come down over the next few months. However, chances are there will be more interest rate hikes and possibly a recession before those rates drop. Buyers think that if rates drop, the buyer will pay less on their mortgage. Except, if rates and inflation drop, demand will grow, and so will market prices. No matter how one sees it, it will be either higher interest rates now or a higher price later.

… chances are there will be more interest rate hikes and possibly a recession before those rates drop.

It may be a good strategy to buy sooner for cash or with a short-term mortgage and refinance at a later date.

Have a great week!

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Image: Mark Goebel, via StockPholio.net

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