The holiday months are a great time for purchases of any kind, including a new home. In Fort Lauderdale, the season is already heating up, keeping with the balmy temperatures of South Florida.
“Sales tend to increase as everyone is trying to get the sale in before the end of the year for tax benefits,” said Caryn Botknecht, Fort Lauderdale-based real estate agent.
While end-of-year economic rewards may largely push sales up, a slew of fine details further fuel the market. With people flocking to the region to escape the frigid weather up north or even abroad, a holiday vacation can easily turn into a house hunt. The festivities also allow for elegant home decorations that often rival posh shop windows and showcase the premier décor possibilities a space can offer.
Commencing in early November, around The Fort Lauderdale International Boat Show, this time of the year might be conducive of real estate transactions, but some common caveats remain as strong as ever.
“Buying a home can be a great gift, but it can be an extremely overwhelming process without the right help,” Botknecht said. “Make sure you are working with people you trust in all aspects of the sale – starting with agent, to inspectors to a mortgage broker, etc. You have a number of factors to be considered when purchasing a home and the time of year should not deter you from that – despite all the distractions you might be facing at this time of the year.”
Selling a residence can pose an array of considerations that are equally overwhelming. Picking the right asking price is crucial, Botknecht said, but it is far from easy. It requires a firm grasp on the local real estate market, its dynamism and complexities. “If financially it is the right time for you to sell, sit down and speak with your trusted real estate agent,” she advised. “Someone who is familiar with the area will give you a good idea of what price you will need to list at if you would like to sell in a reasonable amount of time.”
In the last several years, prices have settled in a sensible range, even while Fort Lauderdale has risen on the global scene of luxury properties. This trend carries over the holiday season and into the new year, Botknecht said.
“I think buyers and sellers are becoming more realistic in their selling and purchasing price,” she said. “When you live in paradise, as we do, it’s hard to imagine anyone not wanting to live here!”