It's been awhile and, as I just watched the Olympic Torch go by in Lower Gibsons, I thought I should write something on my blog.  This has been an unbelievably busy January!  Hard to say what's driving the market presently....I don't believe it to be a single thing...more like several things....Olympic hype, continued low interest rates, renewed buyer confidence.  It will be interesting to watch the Olympic angle play out....I have no idea how that's going to go so I am not willing to offer an opinion:-(.  The continued low interest rates and an increase in buyer confidence are huge drivers for the market however and this should last for the next little while. 

 

I will offer a bit of advice for sellers. We are going to see the market flooded with inventory over the next several months.  We are seeing it already with over 40 new listings (all property types) on the Coast this past week.  If you're selling you'll be facing some stiff competition.  Make sure you price it right and make sure you show your home well.  This means considering staging it....many folks don't buy into the home staging shtick.  Personally, I'm sold!  I understand it's an extra expense but you should weigh that against the time savings on market (you will spend less time on market if your home is staged) and the fact that you will get closer to your asking price.  De-personalize, de-clutter and make it easy for the buyer to get in to look.  Every variable under your control should be geared toward making it easy for a buyer to purchase your home.

 

If you're wondering who might be a good home stager to go to feel free to contact me!  Good selling!!!

It's true!  As of the writing of this post there is only one month to go before Christmas!  April and I held our Christmas party this past weekend and it was a smash hit.  I think that was the precursor to "getting into the spirit" of the holidays.  So it's time for making lists, going shopping and playing to the kids enjoyment and excitement of the season.

 

What about the market though?  Well, it's a good November.  We are continuing to see a reduction in inventory which is always good for sales.  For November 2009 we have 430 detached homes listed on the Coast compared to 469 last year.  A reduction of 8%.  We have seen 29 sales in the past month over 25 from the year before.  The telling point for "where the market is" is the selling price.  The Year To Date average sale price for a detached home is $435,000 over last year's average price of $460,000. I am really elated to see, that after all that economic mess, we are only down 5.5% (again for the detached market overall). 

 

Music that's making me happy is;

 

Sista Nancy - Dub Reggae

 

A Fine Frenzy - Alison Sudol is a great voice singing catchy pop tunes

 

Joe Strummer & the Mescelaros - The Clash's frontman still edgy but without the anger - RIP Joe!

 

I just took the last three days to read Cormac Mcarthy's The Road.  An amazing, post apocolyptic story about a father and son.  Scary, fascinating, touching.  Makes you realize the divinity we can manifest  simply by doing the right thing.

 

Until next time.....

 

Russ

Whoooooooooo.........Halloween is a comin'!  If you're like me (you are raising children) Halloween is exciting and fun for the kids while Mum and Dad take on the duty of keeping the sugar intake to a dull roar.  The amount of liquid invert sugar, in it's myriad of forms, that becomes available at this time of year is mind boggling.  I understand that it is, for the most part, available anytime of the year.  During Halloween there is the expectation of being able to EAT IT ALL!!!!  What do you do?  Dole it out a bit at a time, in which case it may last until next Halloween, or tell them to eat as much as they want over the next day, week or whatever?  I guess much of the choice depends on the age of your kids and there ability to metabolize sugar.....the latter we have all learned through hard earned experience.  Mine are four and seven so I will take the course of doling it out AND limiting the time they have to eat it to the week after the big day.  Will the kids (and I) look back in ten years and think I was a tight wad....or...will they appreciate they have healthy teeth and, hopefully, trim waistlines.......only time will tell. 

 

As for the real estate market....buyers and sellers are still making deals and acquiring or disposing of real  estate.  We're heading into the Coast's seasonal slow down but, while the action has ebbed since the summer months, things are still humming along at a very good pace.  Part of the reason is we're seeing a reduction of inventory in the detached market.  I pulled some stats the other day and they show a total of 494 detached listings on the Coast, down from 537 this time last year (a reduction of 8.1%).  On the other hand the attached market had 106 listings last year at this time compared to 125 this year ( a rise of 15.2%). 

 

 

If you're buying in the detached market get out there and make a deal soon.  A further reduction in inventory may solidify prices at the present levels and certainly makes negotiating a good deal more difficult. 

 

If you're buying in the attached market then go out and cut yourself a good deal.  Things are moving much more slowly in this area so if you're down sizing or buying your entry level home take note.

 

 

If you're selling detached stay the course.  Your home should be "well priced" and show well.  When an offer comes in you will enjoy the fact of decreasing inventory via a "closer to asking price" deal. 

 

If you're selling attached then the "latest" is not good news for you.  Try and create something unique about your home that will appeal when the few and far between buyers do come for a viewing. Something unique can be as simple as some new paint, flooring, appliance(s), a well placed mirror or wall hanging can also have an enormous emotional effect on viewers/buyers. If all else fails, and you can't wait for inventory levels to drop, then lower your price. 

 

I hope this is helpful for you.  If you have any real estate questions then call me! If you would like to make a comment regarding these blogs then please do.  Have fun on Halloween and remember to keep doggy and kitty inside that night.

 

Cheers,

 

Russ