Property for Christmas? Yes please!

Property for Christmas? Yes please!

Think Christmas is a break from your investment search? Think again. It could be your best chance to snare a deal!

While Christmas is a very busy time, we’ve got a hundred different things on our mind, a hundred different social events, gifts, presents, money spent and dinners eaten. But should your property search stop over this busy period?

Not necessarily.

Traditionally, Real Estate activity tends to wind down over the Christmas break. I know from personal experience lots of agents tend to slow down as well around the start of December, and many think that it’s their time to wind down. Which you can and are entitled to. It may be one of your only breaks of the year, only chance to see some extended family. But it may be a good idea to keep one eye on the Real Estate portals and a trigger happy finger on that enquiry button.

While a large bulk of the buyers tend to shy away around this time of year, this is your chance to fight a battle with less buyers in the marketplace. Real Estate and modern day sales tactics revolve around competition. Well, let’s remove a chunk of that and have a little fun.

Around Christmas Time, many vendors may be feeling the pinch. As a seller, if you had time on your hands, you’d likely be happy to wait and hold for the greener grass on the other side of New Year. Launching your campaign around February is a better strategy than stalling over Christmas. So what does that mean for you? Some of those properties on the market, are effectively under duress. They are on market potentially due to the necessity to sell, rather than the desire. They NEED a sale.

This is your chance. A great strategy, buying something that somebody NEEDS to sell, for whatever reason, while less people are competing against you. I.e. A better chance to pick up a deal that could be slightly under market, or on market (as opposed to those many auctions and sales that seem to shoot well above and beyond where the market actually is).

Many sellers, if their property is on market as they head into the second half of December, get a reality check. They know they are likely to sit on market for just over 6 weeks, with little or no market activity. They can often have a realisation, and adjust their expectations accordingly. This could again be your chance. They realise the market isn’t where they expect, so maybe throw them an offer where it should be. There is a chance they could be far more receptive.

Many agents as well, are very lazy. Less agents answering their phone, less time for inspections, so if you can get in the door, chances are you are one of the lucky few. Take that opportunity of decreased competition, and take your chances.

A lot of these points can differ in different marketplaces. Some areas may not have any slowdown in competition over Christmas, some vendors may be stubborn and not adjust their expectations, but at the end of the day, you don’t know if you don’t try.

The best strategy around Christmas, is keep an eye out for an opportunity, and if the stars align, you could have bought yourself a very expensive Christmas Present.

Have a very Merry Christmas, and a Happy New Year!

Author

Michael Turner is a Property Development and Analytics Specialist operating in Sydney's Growth Centres and corridors. He is a Director of YPI, along with several roles at property development firms and agencies. He can often be heard on various radio mediums talking about Football and Property. You can find him on Twitter @mturnerypi or email him directly at m.turner@youngpropertyinvestor.com

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