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This time every year, homeowners who are planning to move have a decision to make: sell now or wait until after the holidays? Some sellers with homes already on the market may even remove their listing until the new year.
But the truth is, many buyers want to purchase a home for the holidays, and your house might be just what they’re looking for. As an article from Fortune Builders explains:
“ . . . while a majority of people take a step back from the real estate market during the holiday months, you may find when the temperature drops, your potential for a great real estate deal starts to rise.”
To help prove that point, here are four reasons you shouldn’t wait to sell your house.
1. The desire to own a home doesn’t stop during the holidays. While a few buyers might opt to delay their moving plans until January, others may need to move now because something in their life has changed. The buyers who look for homes at this time of year are usually motivated to make their move happen and are eager to buy. A recent article from Investopedia says:
“Anyone shopping for a new home between Thanksgiving and New Year’s is likely going to be a serious buyer. Putting your home on the market at this time of year and attracting a serious buyer can often result in a quicker sale.”
2. While the supply of homes for sale has increased a little bit lately, overall inventory is still lower than it was before the pandemic. What does that mean for you? If you work with an agent to price your house at market value, it could still sell quickly because today’s buyers are craving more options – and your home may be exactly what they’re searching for.
3. You can determine the days and times that are most convenient for you for home showings. That can help you minimize disruptions to your own schedule, which can be especially important during this busy time of year. Plus, you may find buyers are more flexible on when they’ll tour a house this time of year because they have more time off from work around the holidays.
4. And finally, homes decorated for the holidays appeal to many buyers. For those buyers, it’s easy to picture gathering with their loved ones in the home and making memories of their own. An article on selling at this time of year offers this advice:
“If you’re selling around a holiday and have decorations up, make sure they accent—not overpower—a room. Less is more.”
There are plenty of good reasons to put your house on the market during the holiday season. Connect with a real estate agent and see if it’s the right time for you to sell.
UNITED STATES: Apartments and a small lake in Reston, Virginia, a planned development not far from … [+]
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If you know what type of asset class you want to invest in and have found an opportunity, you’ll want to put together a business plan. This can include where the property is located, how you plan to improve it, and details related to the project. Once you have formulated the business plan, you might consider bringing in a partner—especially if you don’t have experience in real estate investing.
Since commercial properties typically have starting prices in the millions of dollars, new investors frequently struggle to gather the needed capital to make an acquisition. Rather than trying to figure it out alone, bringing on a great partner can help resolve these initial funding obstacles. If you connect with someone who has a track record of accomplishments and relationships with investors and lenders, it could be the perfect way to step into the game. Moreover, you’ll benefit from their experience and can pick up insight as you go through the investment process.
Use these guidelines as you search for a partner who can help you break in and achieve more in the commercial real estate space.
Look to see which investors, operators, and developers are actively carrying out projects that are similar to yours. Check online, read trade publications, and review what’s trading. Make a note of anyone you see who is already doing the type of project you want to emulate.
Oftentimes an established professional who is doing a larger project might be interested in the idea of bringing on a junior partner to do the day-to-day business on smaller deals. Suppose you’re looking to convert mixed use properties in Brooklyn. Maybe you’re considering a 10-unit multifamily with a store. There could be a developer who is doing a project involving 100 units with five stores. You could ask if they would consider partnering with you for a smaller arrangement. Offer to take care of the daily tasks and help with what’s needed.
So, what are these Future-Focused Fundamentals? Let’s explore a few key pillars:
Reach out to professionals you’ve worked with, including your attorney, mortgage broker, and investment sales broker. Tell them you’re looking for a partner for a potential project. Check if they have other clients or know developers who might be interested in hearing about your business plan. Your deal team could provide the inner track to get you connected with the right person.
Many cities have real estate associations—check your area to see what’s available at a local level. Look for national organizations and tap resources like Bisnow to see how you can connect. I helped found the Colgate Real Estate Council at my alma mater as a place where alumni, students, parents, faculty, and staff can connect with others in the real estate industry. Check alumni groups from your years of education, as they may open doors and lead to potential partners. Also review your social media channels and groups—sites like LinkedIn can be a powerful tool. Start following influencers who share information and updates on commercial real estate in your area; also reach out to others who share your same interests.
While it’s easy to connect digitally today, there’s really no substitute for meeting someone in person and getting a feel for them. You’ll be able to identify what their values are and how they will act as a partner. You want to understand their traits and skills so you know exactly who you’ll be working with as you go into a deal. While expertise and a history of high-performing projects plays a role, the way they achieved their success is far more important.
When I started in real estate, I built a couple of strong relationships that have lasted for decades. In fact, throughout my 25-year career I have relied on these personal connections, as they have led to some of the best long-term deals that have outperformed the market. As you move ahead, choose a partner wisely—if done well, you can create a working relationship that is maintained in deal after deal.
In an era dominated by technological advancements and digital transformation, the phrase “Back to the Basics” has emerged as a rallying cry within the multifamily housing industry. This movement reflects a growing realization that, amidst the rapid evolution of tools and systems, some core principles and values may have been inadvertently sidelined. As the multifamily landscape continues to evolve, there’s a renewed emphasis on reestablishing these essential building blocks, with a modern twist: enter “Future Focused Fundamentals.”
But what exactly do we mean by “back to the basics”? At its core, this movement seeks to reconnect the industry with the fundamentals that define the multifamily experience. It’s
about rediscovering the essence of what we do beyond the allure of cutting-edge technologies. It’s about putting the resident experience front and center, from the moment
they start their journey trying to find a home to the day they embark on their next adventure.
Enter “Future Focused Fundamentals.” This innovative approach combines the timeless principles that underpin multifamily living with a forward-looking perspective that leverages the power of technology. It’s not about rejecting progress; it’s about embracing it in a way that enhances, rather than detracts from, the human touch.
So, what are these Future Focused Fundamentals? Let’s explore a few key pillars:
In an age of data analytics and AI-driven insights, personalization has taken on new dimensions. Leveraging technology to better understand residents’ preferences, habits, and needs allows property managers to curate experiences that feel tailor-made. From suggesting nearby amenities to anticipating maintenance requests, personalization enhances resident satisfaction and fosters a sense of belonging.
As society grapples with environmental concerns and well-being, multifamily living can play a pivotal role. By integrating sustainable practices and wellness initiatives, properties can create a living environment that resonates with residents’ values and promotes a healthier lifestyle.
While digital communication is now the norm, it’s crucial not to lose sight of the art of effective conversation. Combining cutting-edge communication tools with genuine human interaction can create a seamless resident journey. Virtual tours and chatbots can coexist harmoniously with open houses and face-to-face interactions, providing a wellrounded
experience.
Technology can be a powerful enabler of community, connecting residents through online platforms and shared experiences. However, the heart of community is built through real connections and shared spaces. Future Focused Fundamentals embrace both virtual and physical aspects of community, fostering relationships that transcend the digital realm.
Education is a cornerstone of personal growth. Multifamily communities can provide opportunities for residents to engage in continuous learning, whether through workshops, seminars, or curated resources. By promoting lifelong learning, properties become more than just places to live; they become spaces for personal development.
In essence, Future Focused Fundamentals represent a conscious shift towards a holistic approach to multifamily living. It’s about recognizing that technology is a tool, not a substitute for genuine connection. By reimagining the basics with a future focused mindset, the industry can embrace innovation while staying grounded in the values that make multifamily living truly exceptional.
In conclusion, “Back to the Basics” has taken on new meaning within the multifamily housing sector. The concept has evolved into “Future Focused Fundamentals,” a harmonious blend of timeless principles and cutting-edge technologies. By placing the resident experience at the forefront and leveraging technology to enhance, rather than overshadow, human interaction, the industry can usher in a new era of multifamily living that is both innovative and deeply meaningful. As the journey continues, embracing these Future Focused Fundamentals will undoubtedly shape the multifamily landscape for years to come.