Many people ask me what I think about having their home on the market during the Holiday?  Should we take it off and put it back on after New Year’s day?  Will there be any traffic through it?

First let me say there are many different situations that exist out there and rarely are two of the the same, that being said, here are my reason for staying on the market.

1. Relocation buyers come into town during the Holidays to look for their next home.  They are definite buyers that are going to make a decision in a short time.  Taking your home off the market during the Holidays eliminates these buyers.

2. The Holiday Spirit is also a factor, and seeing a home decorated for the Holidays gives the buyers a warm fuzzy about the house!

3.  Buyers in the marketplace at this time of the year, are serious buyers!  Don’t miss out on them looking at your house!

4.  There are fewer hours of daylight!  Why is that a reason?  It means you are inconvenienced less by having a short  window of showing daylight.  Usually, this means no showings during the week because it is dark at 4:30 pm!  this means you only need to keep the house picked up and clean on the weekends!  Yea!

5.  Less competition!  Usually there are fewer homes on the market to compete against.

6.  Last, but not least by any means, the interest rates are still 50-year lows!

There are probably other reasons, but these should help convince you to keep it ACTIVE on the MLS!

Happy  Hanukkah!  Merry Christmas!  Happy New Year!  Happy selling!

The Reality of a Short Sale!

Over the past ten days I have been working with a property that is heading towards foreclosure. To sell it, the price will need to be less than the outstanding loan balance. This is called a short sale because it will be short of funds at closing to pay the loan balance and the closing expenses.

It is obvious to everyone that there is tremendous value in this property at the listed price which is below both the assessment value and the market value. So why is it, when we finally got an offer on the property, and we got two offers, that they are another $15,000 under the listed price?

Quite simply, Human Nature!!! The buyers are in the driver’s seat and the banks need to sell the property at the price the market will bear out, however low it is! Unfortunately, they are not helping the property values for the neighborhood that they are moving into by putting a sales comparable on record at that price. But at least, they are taking a vacant property off the market by buying it and moving in.