In the world of residential real estate, the arrival of Spring is known to bring a surge of buyers to the market.
This year, the market has more buyers than sellers, and the sellers are happy. In fact, it seems to me that each passing year is bringing fewer sellers to the market. Many people love where they live and are choosing a renovation over relocation. The next time you’re out for a walk in your neighbourhood take note of the disposal bins in driveways and construction signs on front lawns. These are the signs of happy home owners staying right where they are.
I characterize this market as strong but unpredictable. Some homes are taking longer to sell and some are selling for less than anticipated. Others are selling for top-dollar almost immediately. More than ever, sellers need a seasoned realtor to guide the way.
Here are a few things to keep in mind if you’re planning to buy or sell this spring:
- Know what you want. Know what’s available. Know what homes are worth and have your financing in order.
- Act quickly. Your dream home is very hard to find. When you see it, don’t hesitate.
- Know what your home is worth. Choose your list price and selling strategy based on research, not wishes.
- Move deliberately. There will be buyers that try to test you with low-ball offers. They will be very convincing. Trust your realtor for guidance and know the true market value of your home. Don’t be pressured to sell your home for a discount unless your goal is to move it fast and at all costs.