Another fabulous sunny, warm Friday! And…our phones have been ringing off the hook with sellers wanting to consult on how best to prepare their homes for the Spring 2014 market. It is quite amazing the impact TV real estate shows have on the market – now most people are aware that they need to declutter, paint & update to create a positive first impression. And, we are only too happy to advise which improvements are worthwhile.
The ironic aspect of all this is that, right now, our market is active with an increased number of sales and a decreased inventory, making it the ideal time to be a seller. As interest rates have risen and a further rate hike anticipated for the New Year, buyers are jumping off the fence and buying homes. So…if you are contemplating selling, now is your moment – especially if you own a detached home or a townhome. The Spring market will bring greater competition along with less opportunity to achieve the upper end of your price range. We are always happy to discuss the market with you and analyze the endless statistics.
On a political note – if you are a Coquitlam resident remember to get out and vote Saturday, October 26 for the by-election. 11 candidates are vying for two vacant Council seats and can be heard at 2 All Candidates meetings this week:- Wed. 7pm Douglas College – David Lam Campus and Thurs. 7pm, Banting Middle School. Make it a great turnout!
When it comes to real estate we’ve got you covered!
While much of the rest of the world gears down for a recreational weekend, we in the real estate business ramp up for a full on weekend of showings! And, compared to this time last year, it’s busy!
On reviewing the September stats, our Greater Vancouver Real Estate Board president, Sandra Wyant pointed out:- “While sales were up considerably from last year, it’s important to note that September 2012 sales were among the lowest we’ve seen in nearly three decades. Home sale and listing activity this September were in line with the 10 year average for the month.” For current sellers, the important statistic was that new listings for the month were down by 3.5 per cent compared to the same 10 year average, so…less competition than we would anticipate for Fall. Cautious optimism is our mantra. The rise in interest rates has attacked affordability for first time buyers, which in turn has created a slow down in sales of entry level housing. Pricing still remains key – buyers are savvy and spot the well priced property immediately – having recently resulted in some multiple offer situations. We are happy to interpret the stats for you and give you the local experience. We have you covered!
Ours is a generous, caring community – witness last Saturday’s fund raising gala when $168,000 was raised to purchase much needed ultrasound equipment for our own Eagleridge Hospital. Congrats all round!
Work or play – have a great weekend!! See you around the Cities.