Real Estate Blog & Resources

We read the headlines that the "luxury" real estate market is doing well but what does luxury mean?  One person's idea of luxury isn't another's.

Luxury in the hottest & most expensive real estate markets is quite different from other markets.  Sotheby's, in a recent article on the luxury market uses the $4million mark but I would push it higher.  Why higher?  Too many homes on the West Side hit $4million, even for just lot value.  Of course it depends on lot size & type of home too.  A $4million home on a 33ft lot might be quite nice but on a 40 ft lot, could just be lot value.

Maybe the criteria should be a number that a reader would instantly know represents a certain type of home.  Maybe that "luxury" number should be more like $7-8million.

So why wouldn't Sellers do that?  Sellers sometimes get it backwards & instead of investing in the presentation of their home, they leave it vacant to save money.  

That means no great first impression when Buyers walk in the door.  That also  means the realtor has to try to provide ideas for furniture layout, furniture choices, & space planning when a good staging company could have done all of that.

Even if a property goes to multiple offers, the sale price will always be better with a great presentation.  It will attract more Buyers & get more of those Buyers interested in paying top dollar.

It works every time-Buyers need the visual!

When the March stats were released last week, there was a lot of doom & gloom around the difference in number of sales versus a year ago.  In fact I was contacted by Buyers thinking there must be some deals.

Unfortunately no.  What those stats didn't tell readers was that we're actually in a Sellers' market in many areas of Vancouver.  Both East & Westside Vancouver, North Van & Richmond all showed sales that were 30-58% of listings available.  The few areas that weren't a Sellers' market were balanced markets at around 20% of listings selling.

Very different information for Buyers & Sellers.  If they read the headlines, they could assume it's not worth listing their homes & for Buyers, deals must be available.

What's more important-the stats or current & local information?  I think we all know the answer & an experienced realtor will know the stats that matter.

I recently receveived a thank you email from a client & she included "and you make real estate fun".  

I wasn't sure what she meant as I'm not making jokes or any of the obvious "fun" stuff so what was I doing to make it fun, or at least fun for them when currently real estate is far from fun.  With very low inventories, real estate can be boring, frustrating, disappointing, & stressful,

• I'll go out with clients to view homes they've requested, even when I know they won't like them
• there is no pressure to write an offer.  This is their decision to make based on the good information I can provide with my experience in the business.
• I view homes through their eyes & needs-not mine.
• we share the emotions of finding the right home
• we're out there for as long as it takes

and..there IS always something to laugh about!