Despite warnings to the contrary, many buyers will consider temporarily delisting their homes as the holidays approach.
This is a mistake in any year, but particularly so in 2019.
That’s because, in spite of a few weeks that have seen progressive slight increases, mortgage rates remain at near historic lows.
Prescott area home sales were actually significantly higher in October than during September. Part of the reason for that is bound to be the continuance of low rates and the sense of urgency that buyers have felt for some time now, very aware that they cannot always be certain of locking in such a low rate for the life of the home loan.
Next year is also an election year, bringing with it a degree of uncertainty, so there’s another good reason why buyers won’t be withdrawing from the market for a few weeks, even if you decide to…
Leave the market until the New Year and you will miss the height of job relocation season. Buyers are out there right now trying to move into their new home before their new job begins in early January.
A lot of buyers are also anxious to close the deal before December 31 in order that they can yield tax advantages.
And never forget that there is also the significant motivation of being moved in before the holidays, so the new owners can entertain in their new surroundings.
Apart from all these compelling reasons to maintain your listing, remember that, no matter how good the advice, some sellers will leave the market for a few weeks, which will reduce your direct competition and make asking prices more robust.
Buyers who temporarily withdraw their home from sale at this time of year all tend to arrive back on the market at roughly the same time in the New Year, which obviously increases competition and puts asking prices under more pressure.
And if you’re concerned about people viewing your home when it’s not convenient at holiday time, simply work with your agent to make appropriate restrictions.
The next few weeks will in fact see some of the most motivated buyers in the entire annual real estate cycle, so why not call the Hyland/Schneider Team at 928-445-2100 for an informal chat looking at your best current options.