My big news is that I Sold my house in less than a week, with multiple offers!

With all the gloom and doom reporting that we see on the news, the fact that people continue to buy and sell seems to have escaped the media attention!

Last week Lisa and I sold our house. We put it up for sale, and ended up accepting one of several offers to buy. From our decision to sell to the removal of all “subject to’s” the process took less than 9 days.

When we tell people this, they are totally surprised.

Were we surprised?  Well, a little. We thought maybe it would take two weeks!  The fact is Averbach Mortgages has been setting up mortgages for our clients on an almost daily basis in spite of the economy so we knew the house would sell.

When I asked why the house was able to sell so quickly, our agent, Simon Clayton said “The market in Vancouver is hot. Real Estate markets are localized and while the world’s economy does affect prices we are still living in the best city in Canada and have limited land to build on. We saw a drop in prices and sales in the last 6 months of 2008 which have now rebounded to record levels. Mike’s house was top quality and one of the best houses I have ever seen built on a 33′ lot in Vancouver! Quality always will retain its value and buyers who saw the house understood what made it stand out from other newly constructed homes.”

While I had Simon on the spot, I asked him, “What can my clients do to sell their home faster?” Simon said, “Price the home correctly. Understand what is happening in the local market. And understand why your competition sold at one price while your home might be worth a different price. Help your agent by listening to tips and tricks on how to increase how many people will want your home. It isn’t a bad idea to spend some money fixing up some parts of your house. You will see a return either financially or the benefits on your home selling quickly. Hire a good agent who knows the market and has proven success. Don’t rely on thinking the house will sell itself. You need to have a marketing plan and an agent who knows how to handle the process.”

In all, we received 2 offers after 1 open house. Simon listed our house on MLS; advertised in the Vancouver Sun; advertised on his website; had a professional video and photos done, as well as a full colour brochure for each buyer. The house effectively sold in 1 week.

Why did we sell?  Ask Lisa!

Contact us NOW to find out about obtaining the BEST mortgage at today’s lower rates.

Here’s a market update from our friends at Macdonald Realty; Simon Clayton, Kristie Marsden, Jason Low, Sandra Ens, Jason Feinstadt and Jenny Stephanson.

Pricing it Right

Summer is underway and the housing market is showing surprising strength following a chilly Winter. For those of you thinking about selling, it is important to realize how vital the Art of Pricing is to the sale of your home.

All sellers want the highest price possible for their homes, but the strategies to get there are not always intuitive. In certain circumstances, pricing low can be more effective than pricing high, while in others, pricing above market value can be a winning strategy. In most cases, however, the optimum pricing strategy is to price within 10% of market value and let the market decide. After all, the ‘list price’ comes with a caveat: Or Best Offer.

Top Reasons for NOT Pricing High:

1. You lose out on potential buyers who put a price cap on their property searches.
2. Serious buyers question the motivation of a seller with an overpriced listing.
3. You provide a strong comparable for your neighbours who are properly priced. You are effectively selling other peoples’ well-priced homes.
4. Buyers assume that properties which remain on the market for long periods of time have something inherently wrong with them.
5. Other agents will be more hesitant to show your home.

Many factors come into play when it comes to pricing your home and a professional can help you through that process. To find out more, please feel free to contact one of us at the address below.

June 2009 Market Update

If you would like to learn more, please feel free to contact us by

phone or by clicking on one of the links below:

Simon Clayton 604-764-0711

Kristie Marsden 778-836-4389

Jason Low 604-790-5276

Sandra Ens 604-263-1911

Jenny Stephanson  604-675-6214

Jason Feinstadt  604-263-1911

MacDonald Realty 604-263-1911