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Why 2020 Is the Year for a Holiday Home Sale
At Haring Realty, our REALTORS® are looking forward to spending time with friends and family this holiday season. But many sellers are motivated to move fast, and Mansfield homes for sale shouldn't wait – we're on the case all through Thanksgiving and beyond.
Some sellers feel intimidated at the thought of staying on the market over the holidays. They wonder if their home will sell and if showings will put a dent in their holiday plans. But if you're intent on selling as soon as you can, don't shy away from sticking to your plan!
With the right real estate agent at your side, a holiday sale can be worth it!
Every seller has their own goals, and those goals usually include a fast, lucrative sale. Ideally, you don't want your home to be on the market longer than 60 days, and 30 is even better. Luckily, today's unique housing market situation makes it much easier than ever to sell over the holidays.
Here's why you shouldn't miss out on selling this year:
- Mortgage Rates Remain Remarkably Low
Earlier in 2020, mortgage rates smashed through a series of record lows. They remain at a low ebb, enabling more buyers to enter the market and reduce the total interest they will pay on their financed funds. Buyers often have a bigger budget than they expected, and they're eager to close. - There Aren't Enough Houses to Go Around
Experts have estimated that the total amount of homes on the market is down about 20% compared to last year. At the same time, the pace of sales remains brisk. Buyers are more likely to find themselves in competition for the most desirable homes, which can end in a lucrative bidding war for sellers. - Buyers Are Being Forced to Upsize Homes
Although there's good news on the vaccine front, buyers in the market are acting on their situation as it stands – and they want more space! Families are stressed out by searching for space, suddenly needing a home office and places for kids to study. Sellers with larger homes stand to benefit. - Home Prices Are Steady or Rising
Home prices have held steady or continued to rise in most places in the United States. That's even true of the most expensive home markets, where people are leaving in droves. Sellers sometimes wait to see if the market will buoy their asking price, but there is no better time to make a big ask than right now. - The Next Economic Shift Has a Ways to Go
Whether the economy goes up or down, current trends have time before they play out. The worst-case scenario, a slowing housing market due to unemployment, is a few months away. This holiday season may be the best time to take advantage of the combination of all these different perks for sellers.
You Can Still Sell in 2020
Despite all this great news, there are lots of would-be sellers who are staying on the sidelines. This is all thanks to conventional wisdom – which, to be fair, holds true most years – that selling during the holidays is not always the best move.
At the same time, sellers who move forward boldly are in a position to make their transaction a smashing success. It's crucial to remember that today's market is the result of once-in-a-lifetime factors. Nothing like it has happened in modern history, and it will never be repeated.
Haring Realty can help you make the most of it! To learn more or get started, contact us today.