Summer is typically the high season for home sales in Hawaii. But winter can be a buyers market. If you don’t mind moving during the holidays or smaller inventory of homes for sale, winter might be a good time for you to house shop. Here are some reasons for buyer’s to take advantage of the holiday season:
Motivated Sellers
Many home sellers find summer the more convenient time to list their property. However, sellers often have reasons to sell their homes during the holidays for reasons such as job relocation, a new baby in the family or unexpected changes. These motivated sellers can be a benefit to the home buyer. According to realtor.com, only 8.1 percent of home sales occur in December.
Fewer Buyers = Lower Prices
Another advantage of buying a home in the off-season is the chance to get a lower price for your home. In addition to lower inventory levels, there are fewer buyers too. The serious home buyer may get a better price or ask for perks which may not be available during the active season. In addition, fewer competitors also means not having to go through the multiple-offer mayhem.
Faster Closings
Faster closings are historically more available in November and December because of fewer overall transactions in the industry. Lenders have fewer loans in their pipeline at the end of the year and they may be able to close a transaction more quickly for people buying homes at this time. Of course, you do have to account for the number of holidays that industry professionals also take.
To take advantage of his holiday season contact us.
