11 Reasons You Can Sell Quickly and for Top Dollar During the Holidays

There are 11 reasons why the holidays are the perfect time to sell your home quickly and for top dollar.
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Here are the 11 reasons why the holidays are actually a great time to put your home on the market:

1. There are more serious buyers out and about this time of year. If they’re willing to walk and drive through snow to look at homes, you know they won’t be wasting your time when they look at your home.

2. There are fewer homes to choose from this time of year. A lower inventory means you’ll get a higher price than you would if you listed your home during other seasons where inventory is typically higher.

3. January will see lower demand because more inventory will enter the market. Like I just said, higher inventory means lower sale prices for sellers.

4. Houses show better when decorated for the holidays. This is the best time of year to show your property, so why not show it while you have it decorated for your friends and family.

5. Buyers are more emotional during the holidays. By making an emotional decision, they’re probably more willing to pay your price.

6. Buyers have more time off to look for homes. Naturally, if your home is available during this time, you’re more likely to get a great price.

A lower inventory means you’ll get a higher price than you would if you listed your home during other seasons where inventory is typically higher.
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7. Some buyers must buy before the end of the year for tax purposes. This means, once again, they’ll be more eager to buy.

8. January is typically a month of employee relocation. Some buyers will be starting new jobs once the new fiscal year starts, so they want to buy now so they can get settled in before that.

9. You can restrict showings during the actual holidays. It’s no problem at all for your agent to take the home off the market just for those six or seven days.

10. You can sell now for more money and offer a delayed occupancy and an extended occupancy until next year. This will allow you to sell for a high price and possibly do a rent-back agreement until you close in January or February of next year.

11. By selling now, you’d become a ready, willing, and able buyer for the spring market. With higher inventory during the spring, you’ll likely get a better deal on your new home.

If you have any more questions about selling during the holidays or you have any other real estate needs, don’t hesitate to call or email me. I’d be happy to speak to you.

A Quarterly Market Update for Northeast Ohio

Let’s take a look at the year-to-year changes in our market.

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Today, we’ll be discussing our fourth-quarter market update of the Northeast Ohio area.

The market has been great over the last year. There’s been an average 6% appreciation of home values in our markets—something we haven’t seen in years! Unfortunately, interest rates have risen. In October 2017, we were around 3.8% to 4%. Now, they’re closer to 5%. Outside of increased rates, the market is still strong and it’s a great time to buy. The economy is doing great as well, giving you more confidence in purchasing a property. This means it’s also a good time to invest in real estate.

What is in the forecast for the next couple of years? Economists are predicting an increase in prices for the next year and a steady rise in interest rates. Though rates will continue climbing, we’ll eventually see them come back down—it’s believed that these rates will begin receding in 2020.

Though rates will continue climbing, we’ll eventually see them come back down.
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Here are some statistics I’ve found showing our year-to-year changes:
  • Cuyahoga County: The average sale price is $126,000 with a 0.8% quarterly appreciation and 6.3% yearly appreciation. 
  • Geauga County: The average sale price is $230,000 with a 1.9% quarterly appreciation and 6.1% yearly appreciation. 
  • Lake County: The average sale price is $145,900 with a 0.8% quarterly appreciation and 5.1% yearly appreciation. 
  • Lorain County: The average sale price is $139,400 with a 1.9% quarterly appreciation and 6.7% yearly appreciation. 
  • Medina County: The average sale price is $196,000 with a 1.7% quarterly appreciation and 6.6% yearly appreciation. 
  • Portage County: The average sale price is $156,700 with a 2.5% quarterly appreciation and 4.3% yearly appreciation. 
  • Summit County: The average sale price is $131,200 with a 0.9% quarterly appreciation and 5.8% yearly appreciation. 
  • Carroll County: The average sale price is $106,000 with a 2.1% quarterly appreciation and 9.7% yearly appreciation. 
  • Stark County: The average sale price is $125,200 with a 1.5% quarterly appreciation and 6.9% yearly appreciation.

Because inventory is going to start decreasing as we head toward winter, it’s a great time to think about listing your home. We sold 267 properties in the winter months last year. We can help you do the same. If you are looking to buy or sell, have any questions, or would like further information, get in touch with us. We look forward to hearing from you.

How an Escalation Clause Can Help You Win the Home You Want

An escalation clause might be just what you need to get the home you want in our market. Here’s why.

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Selling Your Home in Northeast Ohio? Use our home evaluation tool.

If you haven’t had much luck getting offers accepted in our market, I recommend using a tactic the agents on our team are implementing with our buyer clients: an escalation clause.

How does it work? Let’s say you enter into a multiple offer situation and the listing agent tells you to make your highest and best offer, but you’re hesitant because you have no way of knowing if that offer will be high enough.

The escalation clause is a unique proposition, but it might be just what you need to get the home you want.
An escalation clause guarantees that you’ll offer more than the next highest bid up to a certain amount. If the house is listed for $170,099 and you’re willing to pay as much as $185,000 for it, your escalation clause will state that you’re willing to pay $1,000 more than the next highest verifiable offer. If another buyer makes an offer of $183,000 with no closing costs, your offer would automatically reset to $184,000.

The escalation clause is a unique proposition, but it might be just what you need to get the home you want.

If you have any more questions about how an escalation clause works or you have any other real estate needs, don’t hesitate to reach out to me. I’d be happy to help you.