To many people, the prospect of purchasing a home during the holidays is a daunting one. However, borrowers should be aware during the holiday season they can benefit. During the holidays, there are a variety of factors that can shift the power to the buyer when negotiating prices.
Recent reductions in rates along with less than average inventory had created a market favoring the seller to some degree. With the holidays approaching, buyers may see more options open up in inventory with less competition from other buyers.
Depending on their motivation to sell, sellers in Scottsdale may be more willing to negotiate their price due to the decrease in offers seen around the holidays. Many Scottsdale real estate professionals are aware of these trends and do their best to help clients learn about them. Real estate agents in Scottsdale report that there is a decrease in competition and an increase in inventory exposure, all while lending companies are closing loans faster while rates are low.
An added bonus for those moving from a rental property to a home purchase is that they can include a month of interest deductions on their 2013 tax returns.
For those selling, the drop in demand can be difficult to understand, but often they are pleasantly surprised by the attitudes of buyers during the season who are eager to purchase.
Those who are serious about purchasing are found during the holidays in contrast to those “just looking” and getting ideas. People out looking at homes at this time are very serious buyers and often want to move quickly.
As of lately, the slow increase in rates is a motivator to buy now before the end of the year. For both buyers and sellers, the holiday market doesn’t have to be a negative one with the right perspective.