January 18, 2017
It's been a long time since I've blogged on here. It's amazing how work and life get in the way! Today I wanted to speak about the spring market for a moment. Every year when speaking with sellers I get the same story. "We are going to wait until March or April before listing." Let me tell you for a moment why that isn't always the best outlook.
First off, there are always buyers in the market. Due to job relocation, growing families, death and divorce, there are always people looking. Add investors and foreign buyers into this mix and you can see how quickly the market can be congested. Now everyone seems to think that you have to wait for the flowers to bloom and the grass to be freshly cut in order to get the most money for their home. In reality though this isn't true.
I looked on the local MLS system just the other day for any homes in Nanaimo under $425,000 that had 4 bedrooms and 2 bathrooms. Now we know that the market has been booming but most buyers are still looking in this price range. I found a total of 15 homes in all of Nanaimo that met these needs. This list of homes stretched as far north as Lantzville and as far south as Cassidy.
If you were to put your home online tomorrow you might only have 1-2 comparable homes to yours in all of Nanaimo! Come spring time you will have considerably more competition. This translates into your house having to stand out over the competition in order to sell faster. Get the idea? Supply and demand is what drives prices.
If you still wish to wait until the flowers bloom then so be it but if anything of what I just said made sense then please feel free to contact me today for a free assessment of your situation. I belive in educating people so that they have a better understanding of the market and how it can affect them.
I hope to hear from you and as always, Have a great day!