Why December is a good time for your real estate planning

This is a time of year that is busy and hectic for many: planning family gatherings, Christmas shopping, and — if you’re anything like me — hunting. While this is a chaotic season for many, it is typically a slow time for real estate agents and auctioneers. People typically table packing and buying a home for holidays and time with family. However, if you can somehow find the time, it’s an excellent time to buy with many benefits that are harder to find in warmer and less busy months. Here are just a few:

Less competition. When buying a home during the busier spring and summer months, you’re shopping at the same time as the rest of your market. Just like with buying a car or other big purchase, many people have put off making big purchases since they’re shopping for Christmas presents and enjoying the chaos of the holidays.

Lower prices. Because sellers don’t typically list a home this time of year, the homes that are on the market right now are probably houses that didn’t sell in the summer or fall, which means prices are likely to be reduced.

Tax deductions. There are plenty of tax benefits that can come with buying a home, and it can be a beneficial as you’re preparing your year-end taxes. Kiplinger’s Jessica Anderson wrote a pretty in-depth article on this a few years ago for The Washington Post. Though a bit dated, it still has some valuable information if you’re interested. You can read it here.

Over the Thanksgiving holiday, I reflected a lot on the ways our company and I personally have been so richly blessed. I am aware of so may that are struggling in my hometown of Gadsden and around the country. We know many fine people that have been affected by the current down turn. For those of us that have been blessed, we should be thankful and reach out to others we can help during the holiday season.

As a new year approaches now is a goods time to assess where you are and what adjustments you plan to make to your business and real estate investments for 2011. I am still very optimistic that with careful research, great buying opportunities still exist. At J. P. King, we have helped many property owners sell their property, even in this stagnant real estate market. With the right knowledge, research and planning, this can still be a great time to invest in real estate, and I hope you can find success in it.

I’d love to hear from you. What investments, if any, are you considering for 2011, real estate or otherwise?

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~ by Craig King on November 29, 2010.

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