Who are the Sellers in this Market?

  • the usual reasons-divorce, marriage, job move, going to retirement home or assisted living, downsizing, upsizing.
  • those who think prices may drop if they wait longer & are cashing in
  • time to renew the mortgage anyway so,,,
  • people who think they can "time the market" & will sell & rent  Not recommendedWink but it's their $$
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Historical sales information for a property up to 12 months prior is now available to the public on realtor.ca   Your agent always had access to this information to be used with clients, but it's now shown to the public & is listed under "Price History."

Sales in the last 12 months are not shown for privacy reasons as information only becomes public once listed with LTSA which can sometimes take months to register.  Another reason to work with a professional realtor who can always  provide you with sales & listing history-not always the same thing.

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Homes are selling but what do Sellers need to know about Buyers if they are serious about selling their home?

  1. Buyers want move in ready homes.  Anyone with a significant mortgage is tapped out with higher interest rates so there's no money left for renos & major updates.
  2. Price it right.  Overall, I'm seeing homes priced around assessed value, & sometimes below.  Buyers are particularly sensitive around pricing, often thinking they're going to conitinue to drop.  Better to hope for a few interested Buyers than none!
  3. Presentation matters more than ever with more competition for Buyers.  Make your home look it's best.
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I'm currently selling a colourful condo but....the Seller has smartly kept the colour to her accessories, art, & furniture against a neutral palette for walls & floors.  That means Buyers can move in with any style or colours that suit them without changing a thing.

Buyers can be put off by strong colours or even just colours that they dislike.  It means another step for them to try & visualize it differently, another obstacle to a possible sale so be smart about your choices.

I love people who embrace colour in their lives, but if you're thinking of selling in the next few years & it's time to paint, think carefully about where to put your favourite colours.  You can enjoy it just as much if you use artwork, pillows, & other accessories to make it your own.  Bonus-you get to take it with you!

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