(AROUND THE WEB) — Attention all deal-seeking shoppers, we have some house hunting tips that will maximize your savings this holiday season.
Black Friday for real estate (yes, there is such a thing) kicks off after Thanksgiving and peaks during the long weekend after Christmas. According to ATTOM Data Solutions, the best day to buy a home this year is December 26. That’s right, buyers who wait for after-Christmas sales are likely to spend a median $2,500 less than they would on any other day of the year.
“People closing on a home purchase December 26 were submitting offers around Thanksgiving and starting their home search around Halloween — likely not a common path to home purchase for most buyers and exactly why it’s the best time to buy,” said senior vice president of ATTOM Data Solutions, Daren Blomquist. “Buyers and investors willing to start their home search right about when stores are setting up Christmas decorations will face less competition and likely be dealing with more motivated sellers, giving them the upper hand in price negotiations.”
During the next few months, celebrants focused on holiday festivities will pay little attention to the housing market. This means that those looking to sell during the holiday season are likely to throw in a few incentives to seal the deal with a prospective buyer.
As reported by forbes.com, James Dainard, a broker with Heaton Dainard Real Estate, says that during the holiday season he usually sees prices drop between $3,000 and $12,000. Lowered prices are not all sellers will offer. Dainard reports that washers, dryers, stoves, furniture, and TVs are just a few creative items sellers will throw in to sweeten the deal.
Other great days to purchase a home are December 7, when buyers save a median $2,000; December 4, at $1,823; December 29, at $1,320; and December 21, at $1,223.
“While everyone else is shopping for great deals on Christmas gifts, you could be shopping for a great deal on a home. It’s the home buyer version of a Black Friday sale,” said Blomquist.