Real Estate Information Archive

With the holidays nearly here it may tempting to put your home buying or selling activities on hold. Whether you are buying or selling in the Greater Baton Rouge area, it is easy to make the assumption that real estate transactions hardly fit into the busy seasonal plans.  This isn’t necessarily true, and your real estate agent can show you how to make holiday home buying or selling work out just fine

Sellers:

You may be tempted to take you home off the market for a while, so you can enjoy the season without having to do quick clean ups for unexpected showings.  Showing might also cut into gatherings you have planned.  If you are preparing for a party and elbow deep in bread dough, that is the last time you want strangers dropping by.

The reality is your agent can schedule showings around your schedule and not authorize ones by other agents the day you are having your annual holiday open house.

This year, incentives for buyers (which include you if you planning to buy another home) are so great that there is reason to keep your home on the buyer’s radar.  You have a real opportunity to sell the home more quickly than in the past months.

The only way selling might otherwise inconvenience you during the holidays is that you still need to keep the decorations modest.  If home usually resembles Chevy Chase’s Christmas Vacation dwelling, dial things back a notch and go for a minimalist look inside and out so the beauty of your home shows through. 

If you have a showing, your home will come off as warm and friendly if it smells of pine and bayberry and has a plate of cookies on the counter.

Buyers:

Just because it is the holidays doesn’t mean you can afford to put off your house shopping until after New Year’s.  Especially at lower price points, homes are moving quickly. With the home buyer tax credits and low interest rates on your side, this can be your time to beat the rush most realtors expect in January.

It is likely more homes will come on the market after the holiday. With fewer other buyers out, the holidays are a great time to look at homes already on the market that may be a match for you.  If you don’t fall in love with one, you can move on to the new offerings in January.

If you’ve have been transferred, your lease is up, your family is expanding – you may need to find a great home quickly,  Since fewer people are competing for homes during this time of year, you will have more chance of having a reasonable bid accepted on a home you love.

As a buyer, there are a couple of holiday rules you need to follow.  First, though are in a rush, the sellers may not always be able to make the house available on short notice.  Give them a little slack as they may have had plans before you called for the showing.  You will probably not be welcome on Christmas Day or 9 am December 26 or January 1.   Second, remember to look past the holiday décor when viewing the home.  That Christmas tree won’t always be in the living room or family room.

With holiday sales, Buyers can receive the wonderful gift of a Baton Rouge area house and sellers can unwrap the prized signed contract they have been waiting for..  Liven your holiday with a call to Sandy and her team.  They can find you the perfect place to call home in the new year in Greater Baton Rouge area, including Baton Rouge, Prairieville, Gonzales, Denham Springs, Watson, Walker, Central, Greenwell Springs, Zachary, Baker, Port Allen, Brusly, Geismar, and St Amant.  We can also you answer any questions you might have about the home buyer's tax credit - $8,000 for first time buyers or $6,500 for repeat buyers.

If you have slowed down your efforts find your new Ascension Parish home because you figured that you could not complete your sale in time to qualify for the $8000 first time homebuyer tax credit, put on your shopping shoes!  Not only is the credit extended till next April, it now offers some new provisions that will help you as a first time buyer and also help existing homeowners who want to move by offering a $6,500 tax credit. The redesigned credit allows you to make more money and still qualify ($125,000 for single, $225,000 for married, phase out of credit for incomes up to $20,000 higher.)  For repeat buyers, the only consideration is that they must have used their current home as a primary residence for 5 of the last 8 years.

By extending the credit to more potential buyers, the credit will help everyone.   First time buyers typically buy homes at the lower end of the price spectrum, while current homeowners often are ready for a more expensive house when they are making their second or third purchase.  Some folks who are ready to move have been put off by the prospect of a slow sale, so have put their moving plans on hold. With the new credit available, there will be a renewed interest in both starter and move-up homes.

Right now in Ascension Parish, the average home price hovers around $217,500 for new homes and $208,782 for exsisting homes.  There is a 3 month supply of homes under $100K and about a 5 month supply of homes up to $250.  For homes in the $351-400K range, the inventory is 18 months, while homes over $400 have a 40 month supply.  The new credit is likely to open up more buying opportunities for entry level buyers and encourage the sellers to buy properties that are likely to be more costly.  It is good on properties up to $800,000.

Though the new credit is good through April 30, 2010, you are only required to have a contract in place, but the closing need not be complete until July 1, 2010.  Currently, the credit that was due to expire on November 1 required the closing to be complete by that date.  Given that the whole loan-appraisal-closing process now takes longer, some buyers were likely to be clogged in the pipeline as the credit expired, while others put off the purchase figuring they would make it through in time. With the new credit, buyers with contracts have three months for the process to be completed.  This means you can buy in confidence right up to April 1, with the knowledge you will be able to claim the credit.

This is also good if you want to buy a newly built home.  Even if you are just looking at the floor plan today, you have plenty of time to buy one of the beautiful homes now under construction in Prairieville, Gonzales, Sorrento, or Geismar.  Builders have tended to construct model and a small quantity of homes so they are not left with unsold inventory, but could easily build more to accommodate buyers like you New home sales are on course to approach 500 homes in the parish this year.

Sandy Ogburn-Sandlin and her team at RE/Max Excellent Properties can explain all the details of the new credit to you, as well as show you the best new and resale homes in Ascension Parish as well as neighboring cities in the Baton Rouge market.  It’s likely that homes will move quickly with the new incentives in place, so contact Sandy's Team today to jumpstart your housing search!