Every year as we move into December there is a new energy buzzing in the market.
It’s the deadline of Christmas.
Buyers who have set a Christmas deadline become like late night Christmas Eve shoppers zipping from open to open trying to get a home under the tree.
Their expectations lower, their limits increase and their desire to have it bought by Christmas morning is in hyperdrive.
Similarly sellers who missed the Spring selling season start to see the prospect of a March settlement.
The concern of low activity before Australia Day fills their thoughts as Christmas approaches.
So their expectations lower as the days tick by and an offer that’s partnered with a clean contract can be well worth the effort for the buyer looking for a Christmas special.
This means December can be a high transaction month, but I imagine the data doesn’t always look that exciting because December usually turns out to only be a 3 week month.
Agents and solicitors tend to slow after about December 20 and many don’t fire up the engines until mid January. This makes sales and settlements a far lower probability in that 3 week hiatus.
It’s this short month that also spurs the December market.
The sale makers (the agents) like most sales people, work on a monthly sales board.
With a shorter month many agents work around the clock to accommodate those last minute deals. I recall running contracts late into many a Christmas Eve knowing that once the deal was done and Santa hits town there’ll be plenty of time to relax & unwind.
For those of you who are in the market the obvious advice is try and remain pragmatic.
If you’re in a negotiation you might be dealing with one of those buyers who will pay whatever it takes to close the deal and you should be closing.
Similarly you might be a buyer who thinks, I’ll leave it till after the break, only to find the property you wanted had sold for less than you would have paid.
Many owners have reduced their price so they can slice their Christmas ham knowing that their property is sold and they can start the new year with a clean slate.
To read the entire article, please follow the link below