Everyone knows Black Friday has become a unique and dominating day for retail shopping. The truth is, however, that the Black Friday phenomena goes well beyond just retail shopping and impacts the housing market in many ways as well. If you are a prospective home buyer or seller then you need to take note in order to take advantage of how Black Friday impacts the real estate market.
Benefits for Buyers
In today’s real estate market Black Friday deals have become commonplace. More real estate agents than ever are now directing their clients to offer financial incentives to prospective buyers to try to capture some of the energy of Black Friday. Black Friday too has become a popular day for real estate agents to schedule open houses meaning that there are a large number of homes that can easily be viewed at this time. Moreover, any deals reached at a lower price will potentially lower your property taxes. This benefit exists because such taxes are typically a percentage of your home’s value and are often based upon your purchase price. If you are a prospective home buyer, buying a home on or around Black Friday can mean generous financial deals and great opportunities.
Benefits to Home Sellers
Black Friday is becoming to home sellers what it has always been to retailers. A survey done by Realtor.com show that many realtors believe there are huge advantages during this time for sellers including potentially more serious buyers. According to this same survey 61.4 percent of all home buyers during this time are extremely motivated to buy a home. Plus, there will be less competition for other listings as many sellers do not want to list their homes during the holiday season. By taking advantage of Black Friday, home sellers can potentially sale their home more quickly than usual.
Whether it’s a discount on price you receive or a valuable perk as a home buyer, or a quicker sale as a home seller, Black Friday matters to your success. Making sure you take advantage of this is a great step towards a satisfying real estate experience.