Posted on April 19, 2018
Here’s how to Navigate a sellers’ market
It’s a sellers’ market in Greater Victoria, but if you’re thinking of listing your
home this spring, beginning the process now will help you achieve the results
“Traditionally the market starts to pick up in March and April before peaking in
May, so anyone wanting to put their home on the market before it seasonally
peaks needs to start the process now,” says Jane Johnston, a Realtor with
the Briar Hill Group at Re/MAX Camosun.
“Right now there are only 1498 listings on the market and that’s extremely
low based on the seasonal average,” notes Johnston, who after years of
investing in buying and selling homes, entered real estate professionally
in 2006. Most recently the award-winning Realtor joined RE/MAX
Camosun team, appreciating the international opportunities the company
A former teacher, Johnston emphasizes client education. “If clients are selling
their home, they need to be aware of what’s happening in the market.”
5 Steps for a successful sale in Victoria real estate
START THE DISCUSSION WITH A REALTOR EARLY.
Part of that should include an honest review of your home and what might help get the biggest bang for your buck when preparing for listing. New counters, cabinet fronts and a fresh coat of neutral paint can offer easy updates, Johnston says.
CONSIDER WORKING WITH A HOME STAGER. “We find
our professional stager not only helpful in preparing a home for sale but also but also getting the seller ready,” Johnston says. “There’s a real emotional attachment to a home that can make it challenging for sellers.” That professional eye can also help prevent what Johnston says is a common homeowner mistake: decluttering too much. “It has to feel homey. If it’s too sterile, it won’t feel welcoming.”
LOOK OUTSIDE. It may be a sellers’ market, but first impressions are important to getting people into your home and generating the results you want. A home that is well-kept, inviting, and easy to access will appeal to both buyers and real estate agents. “Curb appeal is definitely important, especially as more people start their real estate search online,” Johnston says.
PRICE REASONABLY. Homeowners can be inclined to try to over- reach in a sellers’ market, but those homes often sit unsold for much longer than those appropriately priced. Johnston says, “You want to attract the largest number of buyers and agents, and to do that, you need to make sure you don’t overprice it.”
LOOK FORWARD. Preparing a home for sale can be a massive undertaking, but don’t forget to consider what’s coming next if you’ll alsobepurchasing.Johnstonadvisesyouto“securepre-approvalforyournew mortgage, if needed, and consider a long closing
date on your sale to allow you time to find something
new”. “The main focus of my job is managing people’s
stress,” Johnston reflects. “I work to keep them
informed throughout the process so they always
know what’s going on.”
Posted on April 16, 2018
If you’re planning on finding your next dream home, then you’re probably going to view several homes on the market that meet your criteria.
You will want to make the right purchasing decision for you and your family. So, it’s wise to be savvy when viewing properties for sale. Here are some ideas on how to do that:
- Bring a notepad. Take notes, not only of the home’s characteristics, but also of how you feel. For example, can you imagine yourself happily cooking up a storm in the kitchen? Do you see yourself entertaining family on the back deck?
- Bring a measuring tape. Will the furniture you plan to bring fit? Your dining room suite? Your home fitness equipment?
- Ask about maintenance. Is the property in a good state of repair? Will anything need to be replaced soon, such as the windows?
- Check out the area. Do other homeowners take good care of their properties? This shows pride of ownership. How is the noise level? Is there a playground, or another area feature nearby?
- Make a list of compromises. For example, are there only two bathrooms instead of three and, if so, can you live with that?
- Make a list of bonuses. What features does the home have that are not a necessity, but would be nice to have? For example, an entertainment bar in the recreation room.
- Remember your budget. Is the price within your range? Can you afford to buy this home?
The savvier you are when viewing properties on the market, the more likely you will be to find your next dream home.
Posted on April 13, 2018
THIS PAST YEAR SAW THE SINGLE-FAMILY DETACHED HOME AND CONDO MARKETS DIVERGE ON DISTINCTLY DIFFERENT PATHS IN CANADA’S TWO HIGHEST-PRICED REAL ESTATE MARKETS, GREATER VANCOUVER AND THE GREATER TORONTO AREA, AS REVEALED IN THE 2018 HOUSING MARKET OUTLOOK.
The trend is expected to continue into 2018 as a mix of relative affordability for condo units and price appreciation for detached homes in recent years, combined with government policy changes in both markets, has helped push an influx of buyers toward condo ownership.
In Greater Vancouver, demand for condos continues to outpace supply, resulting in the average price of a condo rising an estimated 16 per cent year-over-year, from $553,604 in 2016 to $643,778 in 2017. The GTA’s condo market also saw price appreciation of 22 per cent in 2017, as the average sale price for a condo rose to an estimated $523,437, up from $429,241 in 2016. As condo prices rose, sales for single-family detached homes declined 25 per cent in Greater Vancouver and 22 per cent in the GTA year-over-year between January and the end of October 2017.
The RE/MAX 2018 average residential sale price expectation for Canada is an increase of 2.5 per cent as the desire for home ownership remains strong, particularly among Canadian millennials.
Click Here to download the entire report!
Updated on April 13, 2018
There are several reasons why you may need to sell your home quickly. For example, a job change may require a speedy relocation to another city, or you may have purchased another property and don’t want to be stuck too long with two mortgages.
Here are some tips that can help get the sold sign on your front lawn sooner:
• Be realistic with price. If you set the listing price higher than the current market value of your home, then you’re not going to get many, if any, viewers. You want the list price to be attractive, which means listing at the current market value.
• Get things fixed. You probably don’t have time for a major renovation. So just make sure everything in your home is in good working order. Deal with any obvious maintenance issues, such as a leaking faucet or a gate hanging precariously on one hinge.
• Ensure your home shows well, inside and outside. Eliminate clutter. Trim hedges. Make sure every room has adequate lighting. Imagine that a special guest is visiting your home, and clean up and prepare accordingly.
• Be flexible with viewing times. You want as many potential buyers as possible to see your home. So, don’t restrict viewing times to just Saturdays. Make sure your home is as “available” as possible for showings. This may cause you and your family some inconvenience, but the reward will be selling your property sooner.
• Work with a real estate agent like me who understands the area and the local market well. I will be able to recommend a variety of strategies that will help sell your home faster, and for a good price.
Of course, there’s no way to guarantee that you’ll sell your home within the time frame you want. But these tips will certainly increase the chances that you will.
If you would like to know what your home is worth click here or give me a call 250-744-0775.
Posted on April 3, 2018
in View Royal, Victoria The 3 story at 20 2319 Chilco Rd has been sold.
Updated on April 13, 2018
When you walk into a nice hotel room, what do you usually notice first? It may be the large, often beautiful picture hanging above the bed. You’ll probably find a smaller, equally attractive picture hanging in the bathroom. Often there will be at least two more adorning other walls.
That’s no accident. Hotels know that pictures are the simplest, surest way to make a good-looking room look great.
The same thing holds true when preparing your house for sale. According to home staging experts, hanging a few quality pictures can transform the look of just about any room – even a washroom!
Chances are, you already have pictures hanging in your home. Do you need more? That depends. If you have a room that seems dull, and there is open and empty wall space, try adding a picture. You don’t have to buy one or hang one – just have someone hold up an existing picture. If the look of the room improves, consider adding a picture in that spot.
Pictures don’t have to be expensive; they just need to be of good quality. Many retailers sell good-looking, nicely-framed pictures at affordable prices.
If you are thinking of selling your home the Briar Hill Groups works with a stager to make sure your home looks perfect before going on the market. If you are thinking selling give me a call or email, 250-744-0775 BriarHillGroup@gmail.com