Listings are key for any real estate agent. It's a big part of our business. And as an agent, it's extremely hard to let go of a listing or cancel it, even for good reasons. This year in the Vancouver real estate market, it's been a market of change and adjustment. The government has come out with number of changes to slow down the market, but this last new change/program gave my seller and I reason to pause and think.

 

Let me explain.

 

My seller has a beautiful condo just steps from Coquitlam Centre. We priced it right, and for the last two months, have had numerous showings, and a number of great offers. Some of the offers fell through due to financing, while others didn't come together...

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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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Today, you can see many of these signs popping up on for sale signs on homes throughout the lower mainland. And I get it! There will always be a new trend in marketing homes when they are for sale. However, I don't believe REALTORS® and sellers know there is another option out there.

 

 

For a long time now, I've enjoyed the use of dedicated websites for each of my listings. Is it that the dedicated website is dead? An old trend of selling homes? Or is it more of a difficult setup, not a useful tool, or is it that the seller and REALTOR® are unaware of the option. What ever the reason for the lack in dedicated websites for homes,  I am a strong believer in...

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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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