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HOMES CAN STRIKE “SOLD” DURING HOLIDAYS

Selling your home during the holidays can be seen as an added hassle to the hustle and bustle, but it may provide the best opportunity if your Christmas wish is to sell! The holiday season is a time many sellers consider taking their home off the market due to a lower number of buyers and the inconvenience of showings, but your agent can’t sell your house if it’s not on the market. In fact, for properties such as hard to sell homes and vacation rentals, the holiday reduced inventory may be your best probability of the year to sell.

TO SELL OR NOT TO SELL DURING THE HOLIDAYS?

Reduced inventory during the holidays means your home has a better chance of being “the prettiest girl at the dance” resulting in a lot more dates for showings. Come Spring, newly listed properties will flood the market and buyers will have a lot of choices and may never see your house.

Older homes that have drawbacks such as location or need updating have a much better opportunity to be seen and sold! Visiting friends and family during the holidays are a fresh new set of buyers, but they can’t consider buying your home if they don’t know it’s for sale.

HOLIDAY SEASON IS PEAK FOR VACATION RENTALS

The Vacation Rental Industry is booming and the holidays are one of their busiest times of the year for rentals and purchases. In fact, November and December is prime buying time for Property Investors and the Central Coast mild temperatures are a great location influencer for the purchase of those rentals. According to a 2018 survey, the Central Coast has the top three location criteria for what vacation home buyers are looking for: 33% of vacation home buyers purchased in a resort area, 24% purchased in a rural area and 18% in a small town. So even if the home your selling is your primary residence, keep options and availability open for out-of-town investment buyers during the holiday season.

If selling your home is on your Wish List, take advantage of the good fortune that only the holiday season offers. As the #1 broker on the Central Coast, C21 Hometown Realty’s Agents have the most homes listed and the most homes sold! To get your home sold this holiday season, visit one of the ten local offices throughout the Central Coast or click on c21home.com.

About CENTURY 21 Hometown Realty – Hometown Realty is the leading real estate firm on the Central Coast of California with offices spanning Santa Barbara County and San Luis Obispo county offering expert agents and convenient locations.

SLO MILLENNIALS TO TAKE THE BUYING PLUNGE

San Luis Obispo rent is steadily increasing at the highest rates in the state. Central Coast Millennials may soon follow the national trend and take the plunge into home ownership. The National Association of REALTORS® recently reported Millennials hold the highest share of home buying activity out of all other generations for the fifth consecutive year.

Rents in San Luis Obispo have increased an alarming 39.42%. An increase from September 2017 to an average of $1512 for a 1-bedroom and up to $2600-$2800 for 2 to 3-bedrooms, according to Rent Jungle. The tight rental market has forced Millennials into considering home-ownership as an alternative. They are discovering they are getting more bang for their buck.

MORE BANG FOR THE BUCK

A recent rent.com survey indicates that 51 percent of millennials are spending more than 40 percent of their annual income on rent. The factor most important to them is affordability.

But here’s what most Millennials don’t know. Instead of paying $2,500 a month in rent to a landlord, they can purchase a $435,000 home with only 5% down conventional financing, and also have no monthly mortgage insurance “PMI”, for the same total monthly payment.

With very limited supply of rentals and increasing costs, successful realtors are doing well to educate these potential first-time home buyers on the comparative cost of renting and buying.

Other important factors at the top of the millennial renters wish list are size and amenities so Realtors are focusing on the facts that they can get something bigger, with more amenities, if they buy.

FIRST-TIME HOME BUYERS

Because of their age, most millennials qualify as first-timers and usually have less funds for a down payment and might also have student debts, poor credit, or financial worries that make it hard to finance a purchase. Realtors at Century 21 Home can guide potential buyers by knowing the best programs out there to deal with their unique financial situations.

MOST LIKELY GENERATION TO USE REALTORS

Millennials are the most likely generation to use a real estate agent. 90% of Millennials are purchasing through an agent. Among the trends Realtors are seeing in the younger home-buying generation, they are more likely to live closer to friends and family, rather than in select areas of the city or certain schools. They are also buying condos in the city at a very low rate. Millennials answered that the top benefit their agent provided was understanding the buying process.

About CENTURY 21 Hometown Realty – Hometown Realty is the leading real estate firm on the central coast of California with offices spanning Santa Barbara County and San Luis Obispo county offering expert agents and convenient locations.

REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics. C21 Hometown Realty is proud to have all their agents as members of REALTOR.

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