Even though the official numbers from the Greater Vancouver Real Estate Board say we are at the bottom end of a balanced market I feel, based on the current level of inventory and the slowing sales numbers that we have pretty much been in a buyer's market since this past winter. I think it's only a matter of time before this becomes official. Homes and condos are still selling and in some cases desirable properties in good areas are selling in a matter of days and sometimes with multiple offers. The homes that are selling in a timely manner these days are not only priced right but they also show right. If an agent tells you they can have your home listed and on the market tomorrow they are not doing their job. If you want a quick sale...fine but don't expect to get top dollar. Buyers only pay top dollar for homes that are show home perfect and move in ready. To sell a home in a buyer's market it needs to have everything working for it. The MLS is flooded with listings that are not selling and one of the main reasons is they simply don't show well. I find that very few homes are ready to list right away. There's always something that can be improved to increase potential. Remember, it is possible to make a home show better than it actually is. It's done all the time but it takes time, effort, money and careful preparation. Buyers won't pay for potential or future improvements. That's why I have a full checklist of ways to improve the home and I take the time to go through this in detail with all my clients.
This entry was posted on July 26th, 2012 by Owen Bigland | Posted in Video Blog