2021 is just about over, and you're probably getting ready to settle into a week or two of dialing it down and enjoying the holidays and New Year with family and friends. But before we go, we want to talk to the home buyers out there who may not be ready to put off your search for a home over the holidays. A few weeks ago, we blogged about why the holidays were a great time to buy a house. This week, we're going straight to the horse's mouth. We asked some Movement Mortgage experts to weigh in and give us their 2 cents.

Check out what members of the Movement loan officer team have to say.

Q: ARE THE HOLIDAYS AN OK TIME TO BE A PROSPECTIVE HOMEBUYER? DOES IT MAKE SENSE TO LOOK FOR A HOUSE, GET PRE-APPROVED OR CLOSE ON A HOME OVER THE NEXT FEW WEEKS?

A: I think any time of year is an excellent time to purchase a home. There are several advantages of buying a home on or before December 31st. One is that buyers can take advantage of deducting mortgage insurance, property taxes and the interest costs of a loan which can be significant. This can reduce the overall property tax bill, making it worthwhile to shop for a home during the holidays. Christmas time is usually a good time as buyer competition leaves many fantastic deals on the table. As a realtor myself, when you sell your home during the holidays, you face less competition and more serious buyers and may usually end with quicker closings. Holidays do impact American real estate not only in demand for open houses — as these slow down during this time — but immediately after showings offer a much higher demand.

— Brenda Hoefle, Branch Leader, Nashua, NH, NMLS 1065535

A: I think the Holidays are a perfect time to consider purchasing a new home. Yes, it can be a hectic time of year, but is there a better way to add magic to a family's life than experiencing the excitement of a new home? I personally don't think so. 😊 

— Justin Weikle, Loan Officer, Lewisburg, WV, NMLS 1184517

A: I think holidays are a great time to look for a home and get pre-approved. Unlike many loan officers at other companies, I always answer my phone on holidays. That allows me to scarf up all their deals. It's assumed that November and December are usually very slow, but these months are some of my best each year.

— Reggie Register, Market Leader, Virginia Beach, VA, NMLS 92405

A: I think the holidays are a great time to buy a home for multiple reasons. Historically you are competing against fewer buyers, and research has shown this typically creates some of the best deals. This time of year also allows people to get into a new home while their kids are off from school and then start the new year off at a new school if required. Interest rates also tend to be favorable during the holidays as there is less financial business being done in the markets.

— Mike Garrett, Branch Leader, Kennesaw, GA, NMLS 252010 

A: I'd say that shopping for a home during the holidays can shift the odds in favor of the buyer's side. In a competitive market, having less competition from other buyers is a good thing. While some buyers take time to wind down the year and relax with family, others can take advantage of that opportunity.

— Jason Knee, Branch Leader, Toms River, NJ, NMLS 415918

A: The answer to the question is yes! The holidays and the holiday season is a traditionally advantageous time to sell or purchase for a few reasons. 

1. Fewer people looking – helps buyers.
2. Fewer people selling/listing – helps sellers.
3. Festive time and most have homes decorated, so a lot of homes may show better.
4. Financial logistics – for tax purposes, it may be advantageous for sellers or buyers to squeeze in that transaction before the end of the year.

— Dawn Ryan, Loan Officer, Providence, RI, NMLS 828476

A: Given the tight supply of inventory, the holidays are an excellent time for buyers to take advantage of an opportunity where demand may temporarily ease as people focus on holiday functions and travel.  Additionally, it's also important for a buyer purchasing a primary home to close before year-end in order to secure any homestead exemption property tax benefits for 2022.

— David Sheir, Area Branch Leader, Miramar, FL, NMLS  367620

A: Due to the festivities, the purchase demand and people that go to the showings would drop. Therefore, I would urge my customers/prospects to get pre-approved and put in offers because the odds of getting an offer accepted are higher than usual due to the decrease of people looking for homes. Additionally, I would recommend actively searching to buy this time of year because sellers who put their houses on the market now may have a sense of urgency and are more willing to accept offers. I would be working the same as usual because I love what I do without compromising the quality time with my family. It reminds me of the lessons we get from La Fontaine's fable, 'The Ant and the Grasshopper'; we've got to hustle when others aren't and celebrate when our target is achieved. There is nothing better than winning a deal on holidays, celebrating by helping people and making a living — what a great time to earn a prospect's trust.

— Erjon Duraj, Senior Loan Officer, Nashua, NH, NMLS 2044506

So…..Seasons Greetings & Happy Holidays!

However you decide to spend the holidays, we hope you have a great season and a fantastic, prosperous and healthy 2022!

Please reach out to a Movement Mortgage loan officer near you when you're ready to take that next step towards homeownership!