There were signs of life in March, but in April there was a definite pulse in the real estate market in Powell River! All winter, houses have tended to sit without selling for long periods and quite often, we’ve seen significant price reductions before selling. (Those that did sell.) Buyers have been able to take their time, have a good look around and often wait in relative safety for those price reductions. This past month however, there have been easily double the sales that we saw in those bleak, rainy months. In a few cases, houses are selling within days of being listed. We’ve seen a few homes sell for slightly higher than list price due to two buyers competing for the purchase.
It was a slower winter than we’ve seen in quite some time, but this spring activity is not unusual and it’s certainly too soon to begin making predictions longer than a month or so at a time. However, it’s not unreasonable to assume that the next several months will see more sales than we’ve been used to this past winter (barring some unforeseen economic catastrophe). If you’ve been thinking about selling, this is a good time to dip your feet in the pond. Buyers are a little more motivated with more activity going on around them. Call me for a free market evaluation!
If this seems like the time to sell, I’d be happy to help you through the process. Below this item are a few tips on dressing up your house for sale. Another key element in the sale will be accurate pricing. I’ll help you to have a look at the ‘competition’ – houses with similar location, size and other features in the same price range. We also look at similar homes sold in recent months to see what buyers are paying at this time. It’s the buyers that determine the market value! It’s easy to get caught up in thinking about what you paid for the home, the price of recent renovations and even sentimental attachment. However, at the end of the day, the price is determined by what buyers are willing to pay. Taking the above information into consideration, preparing a Comparative Market Analysis (CMA) and using it to help guide us in determining a list price will help us avoid the pitfall of overpricing. Over priced homes take longer to sell and sometimes put buyers off altogether. In a falling market like we’ve seen this year, it can even result in a lower selling price than what could have been achieved if your home was accurately priced sooner!
Neat and Tidy Wins the Day…
If you’re thinking of selling in the very near future, it’s usually not wise to spend a large amount on money on renovations to improve sale value. The best short-term investment is in making your home look neat and tidy. Paint is a great place to start. This freshens up a room or an exterior without costing and arm and a leg. Since you’re not going to be enjoying the paint for long, choose more subdued color combinations that will appeal to more people.
Eliminate clutter! Homes show the best when buyers don’t have to look past all of your collectables, trophies and other personal materials. Collect most items that are on the floor or on counter or table tops, box them and put them in a paid storage unit if necessary. Piling it all into a room in the basement is not ideal. You want every inch of your house to be neat and tidy. This goes for the outside as well. Ensure the grass is well trimmed, gardens are weeded and extra vehicles, tools and left-over building materials are gone.
Quiet Spot in“Upper Westview”
Friends can’t find a home in your neighborhood? Here’s a great family home with a view in a quiet area.
4242 Fernwood Ave
Just listed at $249,900
Call me for more information.