Have you seen any Black Friday homes for sale?
Well, we haven't either. However, did you know that during the holidays there is an increased urgency to both buy and sell homes?
Most home owners are doubtful of finding a buyer in the months of November and December, and unfortunately many home owners are encouraged to pull their home off the market until the Spring. Well, we say a big "No" to that. Yes, there are distractions like holiday parties, shopping and the added inconvenience of moving during the cold winter months. However, this also means there is more opportunity for leverage!
More often than not “off-peak” times can actually be the perfect moment for sellers. Studies show that homes listed in November and December are more likely to sell. Furthermore, they sell more quickly, and more closely approach the asking price, according to an article at Forbes.com. Additionally, this article states that Thanksgiving is an especially good time to sell. Buyers may have been holding out for a better deal and now are scrambling to find something before year end. Some buyers need to close before the end of the year for tax purposes. By house hunting later in the year, they can deduct some home purchase costs on their taxes, such as interest, points, and property taxes.
On the other side, we have the buyer. Sellers who sold their homes during the summer season may be facing a capital gains tax. Which means they too maybe extremely motivated to purchase a new home in November to avoid paying capital gains tax as it would be required to close on the purchase of another home within 180 days to avoid paying those taxes.
So, even though we haven't seen a "WOW" Black Friday Home for sale, there is still great opportunity for buying and selling this month and next. We do have what we call our year round Black Friday real estate deals... our short sales and foreclosures.
If you need help with buying or selling, or would like a current foreclosure list, please feel free to Call/Text Denalee @ 208-515-6365.
Trivia about Mike: Prior to working in real estate, Mike worked for few years on movies and TV shows around the world as a Camera Boat Operator and Marine Logistics Coordinator, including the TV serie....