Taking Advantage Of December In Honolulu Real Estate
November 30th, 2009 categories: For Sellers
Many Honolulu Realtors, sellers and buyers take most or part of the month of December off from actively working in the real estate market. I have always thought that this is a mistake. December can be a very good month for both buyers and sellers. Here are the opportunities.
For Buyers
1. Many sellers take their properties off of the market during the holidays. Some of the sellers that are on the market are seriously motivated. Therefore, a December buyer may be able purchase a home or condo at terms that are favorable to the buyer.
2. There are fewer buyers in the market, thus there is less competition for the available well-priced listings. As mentioned above, this could position a buyer to get a much better buy. If history holds true, there will be many, many more buyers in the market after January 4th.
3. I do not expect a significant move up in interest rates in December; therefore, you should be able to lock in low interest rates. If the market does heat up in January and February, expect interest rates to move up.
For Sellers
1. Less Competition. As mentioned above, there are fewer homes on the market for sale; therefore, motivated buyers have fewer homes to see. If you want to be sold, there is one sure way not to get sold and that is not to be available for sale.
2. Your home is decorated and looks its best. Most people I know do a good job of decorating their home for the Christmas holiday. Your home not only looks good, but many homes even smell better due to the scents associated with the Holiday Season.
3. Transferees. The military, government agencies and private companies will have their employees visit Honolulu during December for their house hunting trips. Though these buyers will not overpay for a home, many times they are less concerned with driving the hardest bargain, than making sure they buy a home for their move to Hawaii at the end of January.
4. Buyers that have to close by December 31. Many people do a bit of year-end tax planning in December. This time of the year I almost always run into buyers that need to buy and close by the end of the year. This buyer is not as concerned about the price they pay, but they are definitely motivated by the tax benefits that can get by closing in the 2009 tax year.
5. Your are positioned to take advantage of the New Year Market. If your property does not sell, then you are going into the New Year with momentum. Your property will be searched over the New Year holiday and you will be the first to be seen by the buyers that took the holiday season off.
6. Prior, proper, planning, prevents, poor, performance! If your intention is to get sold soon, but you want to wait until after the first of the year to get started, then December is when you should list your property for sale. This will allow me to have all of the marketing material ready to hit the ground running on Monday, January 4th. By waiting to get started in the first week of January, it could take a week or two to get up to speed. If this happens, you will have missed two of the best two weeks of the year to sell.
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
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