Blog with MAE Capital

Housing and the Holidays

November 17th, 2014 5:16 PM by Gregg Mower

This time of year folks are preparing for Thanksgiving feasts and Holiday Shopping.  So who out there thinks of buying or selling a home during the holidays is a good idea?  More people than you might you think,  like all good shoppers, savvy home buyers know that traditionally these next 4 months (November-February) are traditionally slow home buying months so deals are out there.  Yes, deals are out there.  You see, although less people list their homes for sale this time of year there are still a good inventory of homes that have been for sale.  Some of these homes that have been listed for several months or more might just be the deal you have been looking for.

If you are a buyer and have been looking for just the right deal on a home, either for investment or to live in, now could be the time to catch a seller in the “Holiday Blues”.  I know this might sound like taking advantage of people when they are down, but it truly is just an economic factor that everyone should take into consideration.  Traditionally, shoppers for real estate slow down this time of year and the frequency of which homes are being shown slow down as well. This puts a seller of a home in the mindset that that they should take an offer that might be on the low side because they believe the market has slowed and they need to take what they can get to sell their home.  Home sellers, this time of year, may also be looking for tax advantages of selling before the years end which could also bode well for potential home buyers.  As a buyer you should know your options as well as the phycology of the Real Estate market this time of year to get the best deal possible.

Here at MAE Capital Real Estate and Loan we understand the phycology of the market this time of year and want all our buyers we represent to know that we truly want to get the best deal possible for them any time of the year.  We also understand that home buyers may need to close their transaction before years end for their tax situation.  As a home buyer you can write off the some fees and costs of a real estate transaction in the year you purchase. I always advise my clients to seek the advice from their CPA or account as to what they can write off and what the ongoing tax advantages are of owning a home either a primary residence or rental property.  There are distinct differences in the tax code between a primary residence and a rental property and the buyer should know the differences before the buy.  Once you determine that owning real estate by the end of the year is in your best interests we need to get you qualified to buy with a loan, if needed.  Then we need to get the parameters of the type of home you are looking for and the location you are looking in.  We will need to act fast as there are the holidays that take away from business days that can be used to work on your transaction.  I would advise, if you need a loan to close your transaction and you are using traditional financing, to be in contract to buy no later than the first of December.  If you are a cash buyer you could probably wait till the 15th of December at the latest. 

If you are a home seller this time of year there are several things to consider.  The first of which is the urgency that you need to sell your home.  Are you looking at a traditional sale or a short sale?  If you are looking at a traditional sale where you will be getting money from the equity in your home to purchase another home, you may want to take your home off the market if you don’t need to sell right away or if you wish to stay in your home over the Christmas –New Years’ time. If you are doing a traditional sale, but have already bought another home contingent on the sale of this home,  you need to keep the home active and look at all offers.  If you are short selling your home, chances are, if you are not in contract by now there is no real way it would or could close by the end of the year so keep it active.  The downside of keeping your home on the market over the holidays is that you have to be ready to show your home at a moment’s notice and that could be problematic if you are going out of town or having company over for the holidays.     

In conclusion, if you need to buy a house before year’s end you had better get going as there are not that many business days left till the end of the year with all the holidays.  If you are a seller think of what is best for your situation.  If you need help with anything please call us we can help you through this time of year and all year around.  Happy Holidays!



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MAE Capital Real Estate and Loan

CA DRE #01913783|NMLS #806170

4940 Pacific Street Suite A
Rocklin, CA 95677