I wrote an article a couple of weeks ago about why sellers should keep their homes on the market during the holiday season. There are advantages for buyers as well during the holidays for those who can find some extra few hours in their shopping schedule. One thing buyers have going for them is that there are less people shopping for homes.
Fewer buyers mean fewer offers to sellers. I’ve talked before about wants and needs. Some owners need to sell now, they don’t just want to sell. Many people make job changes this time of year which nowadays, may mean moving to a different state. Sellers are often more flexible this time of year with price because they don’t have the buyer traffic they would have other times of the year – there is simply less demand. Investors know this, which is why I work with more investors this time of year than any other.
Interest rates are also very low right now, which gives you more buying power. You can qualify to spend more on a house when interest rates are low, than you can when they start to go up. Why? Lenders look at debt to income ratio when deciding to approve a buyer for a loan. Debt includes existing data like student loans and car payments, but the principle and interest on your proposed home purchase will also be a factor. The more you spend on interest the lower your principle payment on the house will need to be to meet the criteria of debt to income.
Real Estate Traffic
Ironically, another advantage this time of year for buyers is time. People often take off a few days between Christmas and New Years. When shopping for presents has ended, people often find they have extra time to look for a house without the stress of spending the day at work. In fact the busiest day to search for a home on-line is December 26th, the day after Christmas.
Happy Holidays to You,
Doreen
‘Tis the season for shopping, baking, cooking, cleaning and maybe a little pepper spray in your eye. With all of the added things to find time for during the holidays, selling a home can seem an additional job we may not have time for. There are benefits though to selling during the holiday season and certainly things to be mindful of.
I have selected randam subdivisions in the greater Austin area and listed their current real estate market data. Average Days on Market below 3 months are considered Seller’s markets, because homes are moving quickly. Neighborhoods with homes on the market between 3 and 6 months are considered neutral.
As in life, there are things that we want in our next house and things that we need. The ‘need’ makes life more comfortable in the present. The ‘want’ is a goal we would like to acheive someday. Needs and wants change as our lifestyles and conditions change. They are two separate things and are two separate lists when looking for a house. On the need list I expect to see things like the number of bedrooms, baths, location and garage space. The items on the need and want lists are interchangeable. You can add any item on either list because the need is a “must-have” and a want is a “nice-to-have” – it’s the goal. 
On September 1st changes were made to the proof of residency requirements for homeowners applying for property tax homestead exemption. Under the new law all applicants must show a copy of their Texas Driver’s license or state ID card and vehicle registration receipt. All of the documents must show the same address as the property they are seeking exemption for. 