This past month we successfully sold a beautifully renovated townhouse in Coquitlam (http://www.citytosuburb.ca/mylistings.html/details-42520138).

 

This isn't a blog post bragging of that sale (In fact I find those posts to be annoying to be honest). However, what I did find interesting was the current buying habits of the buyers of this price range, and primarily the habits of the First Time Home Buyers. This townhouse was in the price range of $200,000 to $300,000.

 

This home did receive a offer in the first weekend, which was very very close to the asking price which did not come together based on other factors, besides the price obviously. Within a month, the property had an second...

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How do you sum up a real estate market that is so inconsistent?

 

  • Homes not selling for months
  • Homes recieving multiple offers 
  • Little inventory in some areas
  • Too much inventory in others. 

 

What is the consistent part of the market? Answer. The Buyers

 

Put yourself in the buyers position. You've heard your friend/family member paid "X" amount of money below the asking price for a home.  What do you now expect when you go to buy? The same thing? Of course! You don't want to over pay when buying in the same market.   

 

The problem is, one street/neighbourhood/complex/builing in one area can greatly differ from another. Even a unit in the same building...

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