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Buying around Christmas time

Discussion in 'General Property Chat' started by meme plecko, 19th Oct, 2015.

  1. meme plecko

    meme plecko Well-Known Member

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    And I mean property buying, not your regular Xmas shopping...

    I will be ready to buy in early/mid December. Brisbane.

    Just because everything goes quiet around that time and everybody is on holidays, would that mean that there could be potential bargains to be had if sellers are keen to sell? Or is it better to wait until everybody comes back in January. Is it difficult to find solicitors/BP inspectors working around Christmas time?
     
    larrylarry likes this.
  2. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    In December you can have some very motivated sellers who just want to tie up a sale before Christmas - so they can make plans for the New Year ahead.

    The flip side of this, is there is generally less stock to pick from as sellers hold off listing until late Jan / early Feb when the markets return to more normal activity levels.
     
  3. Chilliblue

    Chilliblue Well-Known Member

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    Did it last year no problems but you need to ensure that your solicitor, building and pest inspectors and the like are not on leave and can attend.
     
  4. Chrispy

    Chrispy Well-Known Member Premium Member

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    I sold a house in the first week of December one year, it was the best sale I ever had. So little stock that I had people bidding over each other.
     
  5. C-mac

    C-mac Well-Known Member

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    I also did well in selling in December. Ive never bought in December. But if you exchanges contracts on say the 15th or so, and had a 30-day settlement, that'd back you out to a mid January sesettleme. Solicitors and the like are usually back by then.
     
  6. Tillie

    Tillie Well-Known Member

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    About 10 years ago we Sold a house in Xmas eve with a fantastic price. Our intention was to auction it in Feb, but REA suggested to have a couple open houses in mid December. There were not a lot of stock but a lot of desperate people, who wanted to secure and move to the place before school year starts.
     
  7. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Christmas is a funny time - it can be quite unpredictable. On the one hand you could have very motivated sellers - on the other hand, you could have very motivated buyers who want to "buy something" before Christmas.

    As others have mentioned - not many solicitors are open during the break so don't expect a lot to be done until early/mid January if an offer is accepted close to Christmas Day.

    Cheers

    Jamie
     
  8. jpcashflow

    jpcashflow Well-Known Member Business Member

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    Hello,

    Prior to mortgage brokering, I was working in real estate for many years. Christmas time was interesting, I generally had less people at opens but I must admit the people who where looking at houses where the serious buyers anyway.
     
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  9. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    I would also get your finance organised prior to buying - many banks are on skeleton staff over the Chrissy period so any issues could blow your times right out.
     
  10. Nathan Simon

    Nathan Simon Well-Known Member

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    Hi Nathan here, I'm a residential sales consultant on the Gold Coast.
    I must say I believe that this time of the year and leading up to Christmas time is the busiest time of the year!
    Yes unfortunately stock can sometimes get hard to find due to the fact that people like to hold off. However this does not make houses cheaper. If we go off the law of supply and demand,
    There is a larger demand for stock not only in Christmas, but in the current market, all year round. Which drives prices up due to the limited stock readily available.
     
  11. pugstar205

    pugstar205 Well-Known Member

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    So Nathan, as a real estate agent, you're saying that Christmas is a great time to buy, a great time to sell and to make sure you make your best offer because there's no Christmas Sales with houses?
    ;)
     
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  12. Nathan Simon

    Nathan Simon Well-Known Member

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    Basically hahaha
    At the end of the day Christmas is more a buyers market then sellers.
    In saying that, what do sellers usually do with there money? They buy. Generally spending more money!

    Always put your best off forward
     
  13. JDP1

    JDP1 Well-Known Member

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    I don't quite get it @Nathan Simon - Ray White ...if xmas is a buyers market, wouldn't a buyer not want to put the strongest offer upfront?
     
  14. Nathan Simon

    Nathan Simon Well-Known Member

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    Not necessarily. There is currently massive competition out there with many people getting in early on the rising market. Buyers have leniency to spend more money and not have to worry about losing out.
    Always check with your agent if there have been other offers. The good agents will be honest and tell you upfront. From then you decide whether a it's best foot forward or time to negotiate!
     
  15. JacM

    JacM VIC Buyer's Agent Business Member

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    Christmas is indeed an interesting time. People just want to be able to sit at that Christmas table with their family and be able to say they have achieved something. Whether it be that they just sold their property, or have succeeded in making positive steps towards some kind of financial solidarity throughout the year. People naturally want to be able to tell their families that the year has been a success.