Friday, October 14, 2016
Judy Marsales, Broker of Record
General Real Estate Advice
Real estate is attracting lots of attention these days - happy news for current home sellers - and challenging times for some buyers. The statistics are still very much in favour of the Seller due to the lack of available properties for sale. September RAHB statistics identified the “End of Month Listing Inventory” down 33.7% from 2015 in Hamilton and a 42.3% reduction in Burlington over this past year.
This lack of supply has had a dramatic impact on house prices in our area. When you read some of the national headlines with respect to real estate, other areas of Canada such as Vancouver and Toronto are experiencing a different impact on price due to increased demand. However, for a Buyer, the end result is higher prices when purchasing. Therefore, if you are a current home owner and are thinking of selling, you need to be aware of all the trends and be comfortable with your personal selling strategy.
All things being equal, pricing your home is a delicate balance between attracting multiple buyers and not reducing interest in your home by over pricing. Where is that “sweet spot” in a List Price which may attract multiple buyers but not leave any money on the table.
This is where a well researched “Opinion of Value” can ease the decision making by reducing the emotion with the facts supported by experience. Our Sales Representatives will prepare a report for you and go through all the statistics and market conditions which may impact the selling price of your property. Market knowledge is a powerful tool whether you are selling your home or planning to purchase a home. Understanding the delicate balance of pricing can have a very positive influence on your pocketbook. Call us 905 522-3300 or email: firstname.lastname@example.org - we are here to support your real estate moves.