This holiday season is shaping up to be unlike any other that we have seen, and real estate is part of the conversation this year. Whereas in the past, most real estate agents might have advised against listing your home during the busy holiday period, this year, buying behavior is very different.
I wanted to take a few minutes to give you a few reasons why you may want to consider selling your home this holiday season!
A Holiday-Ready Home Looks Amazing
Let’s face it: homeowners pour a ton of time and energy into making their homes look holiday-ready! Your home has never looked better with holiday decor in place or been more ready for interested eyes. So, this year, use this opportunity to list your home for sale! A well-decorated, cozy, and inviting space can also help interested buyers picture themselves making a life for themselves in your space.
Buying Behavior Has Shifted
2020 has certainly been one for the books, and real estate has seen some very interesting changes as a result. Many people thought the real estate market would suffer an abysmal fate in the wake of Covid-19, but that just hasn’t been the case, particularly in Southern California. Buyers are out there pounding the pavement to find the home of their dreams, and according to one recent study by ShowingTime, buyer traffic has increased by 60.7% year-over-year. Buyers are ready and able to buy, so if you’ve been considering selling your home, now is the perfect time.
Historically Low Interest Rates
Interest rates are at historically low levels right now, and this is very attractive to potential buyers. The buying power of buyers is the greatest it has ever been, meaning there will be more qualified buyers for your home than when rates start to increase. These low-interest rates are also great for sellers who need to purchase a new home because they can take their proceeds and roll them into something else with a low-interest rate.
Part and parcel of the change in buyer behavior is that real estate inventory has reached historically low levels. What does that mean for sellers? For one, there just aren’t enough homes to go around for interested buyers. This has resulted in bidding wars that have driven up home prices around the country. I suggest listing now before we enter into the New Year. Many would-be sellers have procrastinated on getting their homes on the market because of the Pandemic. But as things change with a potential Covid-19 vaccine on the horizon, you’ll want to beat them to the punch.
An Expedited Real Estate Timeline
Buying a home today is very different than it was many years ago. From lender pre-approvals to social media marketing, the entire real estate timeline has been expedited. And things move fast! Most buyers know what they can afford before they begin their home search, so now is a great time to get your home primed and ready for sale so potential buyers can consider your home as an option.
The Time Is Right To Move
There is no doubt that we have all spent an increasing amount of time in our homes this year. This has given many homeowners the time to look around and decide if their current space is right for them. Perhaps you could use some more space. Or a home office is more important than ever for you or your kids who are being schooled remotely. Whatever the reason, if you’ve decided that the time is right to move, now is the perfect time to begin that process by listing your home for sale.
If you are interested in selling your Pasadena area home, I hope you will reach out to me. I’m a real estate agent with decades of experience in the local market, and I would love to discuss your real estate objectives. Stay healthy and safe, and happy holidays!