Buyers, buyers everywhere + NOTHING for them to buy = Windfall for Sellers

As most of you have likely heard, the real estate market is VERY hard for buyers to succeed in right now. No matter where you are in the Lower Mainland, there are likely line ups of buyers desperate to buy a home. Even those with high budgets are getting outbid as dozens of buyers compete for each house that comes up for sale.

I know that most of you are not thinking of selling in the near future (if you were, hopefully you would have contacted me!) BUT all of you know a lot of people. If you know someone who you think might be interested in selling their home to change locations, downsize, upsize or just make a fresh start, please pass this information on to them.

Right now a seller can sell on their terms. For example, a seller can:

-Obtain theBest Price Ever: get the best possible price for their home...better than any other time in history and in most cases higher than what the seller thought their home was worth.

-Sell the House "As Is" without a lot of "prepping": sell their home without fixing things, painting, making it look pretty, etc.

-Pick their Perfect Moving Date: get long closing dates or a rent back so that they can relax, pack up slowly, and find somewhere else to live. We have been able to negotiate closing dates of one year in a couple of cases and up to 18 months for one seller.

-Receivea Large Deposit: get a larger than normal deposit from the buyers to secure the sale.

-Experience Minimal Disruption: Usually selling a home requires a lot of showings where sellers have to clean up, leave the house, etc. However in a market like this, where we are expecting bidding wars, usually a home will sell after only a week of showings BUT we can still be confident that the price received was as high as it could possibly be. All the serious buyers are out and lining up to view the homes as soon as they come on the market. In a slower market, a home can be listed for months without selling and during that time the seller has to "get ready" whenever there is a showing.

Clearly now is a great time to sell, IF one is planning to sell at some time in the next couple of years you know someone who might want to sell, now is the time. As usual, in January and February the early bird seller can often get a higher price than those who wait for March and April when everyone else is ready to sell their home.  

If you, your friends or family have any questions about this market, and where we think it is heading (once interest rates creep up and the government brings in measures aimed at cooling the market) I would be happy to discuss.