Buying Property during x-mas - Love it or hate it?

Discussion in 'The Buying & Selling Process' started by Lisa Parker, 9th Nov, 2015.

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  1. Lisa Parker

    Lisa Parker Well-Known Member

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    At this time of year people begin to think about whether they should now wait to buy property after Christmas or should they keep shopping from now throughout the rest of the year and into the new year.

    I personally tend to keep shopping if I am in the market for a property. What about everyone else?
     
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  2. D.T.

    D.T. Specialist Property Manager Business Member

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    There can certainly be some deals about if desperate people want their sale finalised by Christmas. I love negotiating :)

    I find a lot will procrastinate on listing til new year though.
     
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  3. Perthguy

    Perthguy Well-Known Member

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    I definitely would. I like that there is not much competition during this time. :)
     
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  4. Lisa Parker

    Lisa Parker Well-Known Member

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    ME TOO!

    I especially love the ones that haven't reached vendors expectations while on the market through Nov/dec and then the vendors become very motivated coupled with no other buyers around! i know an agent who works right through bc all the other agents take time off. He sells more over xmas in 2 weeks than he does in 2 months.
     
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  5. Lisa Parker

    Lisa Parker Well-Known Member

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    yeah - new listings do get a bit dry throughout the end of Dec through to end of Jan.
     
  6. RPI

    RPI SDA Provider, Town Planner, Former Property Lawyer

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    It is our crazy crazy time. The 2nd last week before Christmas is the biggest and the last week almost as big.

    Big change this year in QLD is that the contract has been changed so that there are no business days (and therefore no conditions or settlements) between 27 Dec and 1 Jan. Normally we settle quite a few in that time, normally not intentionally, usually bank delays. We are still staying open this year but just for new contracts.
     
  7. larrylarry

    larrylarry Well-Known Member

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    I'm looking at one right now on desktop and inspect tomorrow...and maybe an offer... (because I will be away for a considerable time) and the next buying opportunities will be in February 2016.
     
  8. Xenia

    Xenia Well-Known Member

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    Christmas and all other commercialised holiday periods are not really an excuse to slow down - I get more work done because everyone else slows down at that time.
     
  9. Chilliblue

    Chilliblue Well-Known Member

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    You just need to make certain your legal advisor, finance and contractors are all still working.
     
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  10. D.T.

    D.T. Specialist Property Manager Business Member

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    We're talking about buying property, not working. Stay on topic :)
     
  11. Lisa Parker

    Lisa Parker Well-Known Member

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    Great point!
     
  12. Barny

    Barny Well-Known Member

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    I'm selling as of next week in qld, if the price is achieved I'll sell but don't care if if has to go through to the new year. Hopefully the buyers are in need to get it before Christmas.
     
  13. mja

    mja Well-Known Member

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    It's.... annoying. I need to settle two properties and I'd really like to settle ASAP before the Christmas slow down to get tenants in (both are being sold vacant possession). Otherwise, settlement is likely going to be mid-January.
     
  14. legallyblonde

    legallyblonde Well-Known Member

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    That would be my concern!
     
  15. Barny

    Barny Well-Known Member

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    So did this make you pay more or less in any way to get the settlement underway?
     
  16. HUGH72

    HUGH72 Well-Known Member

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    If they are vacant wouldn't it be easier to get a tenant mid January rather than just before Christmas? I didn't think tenants would like to move just prior to Christmas?
     
  17. See Change

    See Change Well-Known Member

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    We've deliberately gone shopping for properties in the last weeks before Christmas .

    People want resolution and properties in the market at that stage have generally on even on for a while

    Cliff
     
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  18. D.T.

    D.T. Specialist Property Manager Business Member

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    Yup, I find the rental market starting to soften in some areas. Presumably it'll pick up again in the new year.
     
  19. larrylarry

    larrylarry Well-Known Member

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    When did you exchange? When will you settle?
     
  20. mja

    mja Well-Known Member

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    Both vendors were pretty keen to sell, bought well below market value for both. I don't believe Christmas itself really had much to do with it - negotiations were done in October.

    Haven't exchanged yet. Real soon now.

    Most likely; it starts to cool off from the start of December. As each day goes by, it's looking more and more like a mid-Jan settlement.


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