#best real estate listings Burnaby B.C

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Best real estate listings

While anyone can search the MLS or read a thousand ads on Craigslist, the best real estate listings websites will provide a better overall experience. These sites will give

you the most comprehensive information on homes for sale and rent, as well as provide updates about the housing market. You can search by location, neighborhood, and price range to find the perfect home. They are free, too, and you won;t have to pay the agent commissions. The real estate listings site Zillow is a great place to find new listings or homes that have been on the market for months. Its goal is to connect homeowners with real estate agents, as well as help them manage their homes. This website provides tools for homeowners to track home values, manage home improvements, and scout similar properties in the neighborhood. This is an invaluable resource for those who want to sell their house. However, it may not be as user-friendly as Zillow or Craigslist, but it does offer some great features. Zillow allows users to create free real estate listings and upload photos. They also make excellent use of space and have tabs to expand on information. Another great service is Offer Market. Its a free website that lets you create free listings of off- market properties. The goal is to help speed up real estate transactions by giving sellers an instant offer and allowing buyers access to off-market deals. If you are thinking of selling your home, dont wait any longer! The best real estate listings Burnaby, B.C websites are also those that provide tools and resources to buyers and sellers. Some of the most popular ones include Zillow and MLS. These websites are a good choice if you;re targeting specific real estate buyer demographics. They allow buyers and sellers to interact with each other in a more efficient way. Many real estate brokers will also list their listings on Zillow to attract a targeted audience. The best real estate listings websites should be easy to navigate. You can easily search for a property on the internet. They also have high-resolution images and a weekly market update. Those websites are also important for real estate investors. There are fewer margins for error, which is why they should only list the properties that are available on the market. These sites are also the most useful tools for those who are interested in investing in real estate. In addition to listing properties on sites like Reonomy, there are other websites that are helpful for both sellers and buyers. These websites offer a targeted audience of real estate buyers and sell properties. They also offer flat-fee MLS listings, so you don;t have to worry about signing a contract with a real estate agent. This type of service is also helpful for people with limited budgets. There are websites that have more than one language, but most people prefer English. Visit our site https://www.turnkey.today/blog/

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9 Signs You're a Canadian housing market Expert

Property Market Update

While the Vancouver housing market is continuing to have a hard time as the international economic downturn continues to tighten its grip on the remainder of the world, Burnaby is taking pleasure in constant development in house worths, including listings for removed homes. The reason that they are seeing prices boost is due to the fact that of many reasons, not the least of which is a healthy supply of houses for sale. Prices here remain listed below rates in a few of the other locations in the area, with a huge difference in need in between individuals aiming to move into Burnaby and people that wish to live in this growing city.

In Vancouver, the Housing Market is beginning to get in cost, in spite of the fact that nearly half of City Vancouver is still under water. The outcome is a sluggish recovery, and the foreboding signs of a downturn could begin to emerge quickly. Vancouver has actually historically been the most popular land current market in the country and is starting to feel the pinch from the decline in the remainder of the nation.

5 Bad Habits That People in the Lower Mainland Property Industry Need to Quit

A downturn in cost boosts will certainly make sellers seek to move, and it is highly likely that you'll be purchasing in a decreasing current market. If you are seeking to sell your house, and the prices appear a little high, maybe it's time to let somebody else have a shot at purchasing the home you desire to purchase. The BC Government just recently reserved $25 million in their budget to assist individuals who are facing a foreclosure or brief sale.

We know that the economy isn't going to remain where it remains in the short-term and the BC property current market is no exception. People can't get the home they want unless prices increase to a point where they are able to satisfy their needs. A Burnaby BC house for sale that is priced too expensive is simply a gamble that the purchaser will not have the ability to satisfy your requirements or a dream house is just a waste of money.

The year was not a banner one for the BC home sales market. Vancouver is the hot residential or commercial property market in the state, it does not indicate the rest of the state has actually outgrown its smaller cousin.

Now is the time to realize that the prices are not going to return to what they were last summertime if you're looking to purchase in the short term. The very same thing applies to selling your home. Do not wait to make the most of the economy in order to follow suit.

We see home sales figures as being affected by numerous factors and that includes the economy. Although there is a short-term downturn, it is only temporary and as long as the marketplaces hold their own, you'll be fine.

15 Secretly Funny People Working in Metro Vancouver real estate

Real property agents that monitor their client lists and the location of the area they live in will inform you that what is excellent for you may not be so excellent for them. It holds true that sometimes things will change due to the economic variations, but for one of the most part, the economy is the very same as it was before the global financial crisis.

Many buyers do not make the most of the time and the cash that they will conserve by not putting off the requirement to relocate to an area in the BC residential property market throughout these economic times. They will wait up until it becomes more financially rewarding and then acquire a home that is priced far listed below market worth. It is a form of confidence, but an important one that must not be forgotten.

It is an unfortunate reality that the market has slowed in Burnaby BC due to the negative effect of the Global Financial Crisis. Due to the crisis, numerous lending institutions took out high rate of interest and were required to make more readily available. Thisis taking more cash out of individuals's pockets, and this indicates less cash to spend on homes.

Houses are priced far below their worth. They are cheaper than what lots of people can pay for. If you were aiming to purchase a house now, you 'd be a good idea to make plans to sell at a reasonable rate.

To much better understand the problem faced by the BC property market, one just requires to visit our sis site B.C Land News. or go directly to Land Newsletter BC.

North Vancouver Real Estate - What Drives Prices?

Numerous factors can impact North Vancouver residential property costs. Perhaps essential is the demand for residential or commercial property in the location.

The demand is affected by a number of elements consisting of population development, the variety of brand-new home construction, real estate sales and trends in business and leisure markets. A decline in service activity could result in a dip in sales and a subsequent decline in the regional home current market.

Individuals looking to purchase a house might consider buying a condo to much better comprehend the North Vancouver residential property current market. The condominium current market is highly competitive, however, and many property owners do not sell. For this reason, it's frequently difficult to discover an excellent rate on a condo, and purchasers often discover that they are competing with other interested buyers for an offered condominium.

Many individuals relocate to North Vancouver from the Lower Mainland to pursue education or professions. Many stay to raise households or pursue their hobbies and interests. With North Vancouver is such a small community, it is possible to live a way of life that is very different from other areas of the Lower Mainland.

Sales figures inform a story about the marketplace. Sales will be lower if services are slow. The numbers will be greater if sales are up. It is worth analyzing sales figures in information to get a clearer photo of what is occurring in the residential property current market.

10 Secrets About Vancouver real estate agents You Can Learn From TV

Sales reflect sales activity throughout the area. However, sales figures can not be calculated directly by looking at the typical day-to-day sales of the North Vancouver property market. To offer an accurate photo of sales, sales figures require to be compared against the typical daily figures for all of City Vancouver.

It's not uncommon for salesto fall in the very first few months of the land current market following a big current market change. Other times, there will be a rise in sales to a peak prior to they ultimately level off. This is typical behaviour, as sellers and purchasers get used to the brand-new market realities.

Costs differ commonly throughout the North Vancouver real estate current market. Market value depend on local demand, surrounding homes, and the economy. In addition, the current worth of the residential or commercial property, and the residential or commercial property sales tax are also a significant influence on rates.

The cost of a common condo in North Vancouver depends on the kind of unit, the size of the unit, the place, and the facilities. Condominiums, apartments and townhouses are cost differing prices, based on their private requirements and choices.

Other aspects include current market need, the demographics of the area, the rates of neighboring businesses, and the financial climate in Vancouver. Areas that are quick growing in the Lower Mainland tend to have greater residential or commercial property worths than neighbourhoods that are struggling.

All the factors discussed above have an influence on the North Vancouver residential property market. All of these aspects contribute to a perfectly balanced market, so that there is nobody element that affects the total residential or commercial property worths in North Vancouver.

Getting a condo or a house in North Vancouver is a financial investment. The worth of the financial investment is figured out by numerous factors, including the place, the kind of residential or commercial property, the cost of residential or commercial property, the need for that home, and the inflation of the home.

The year was not a banner one for the BC house sales market. Sales figures inform a story about the market. It is worth examining sales figures in information to get a clearer photo of what is occurring in the genuine estate current market.

Sales figures can not be calculated straight by looking at the typical day-to-day sales of the North Vancouver real estate current market. It's not unusual for salesto fall in the first couple of months of the real property current market following a huge market change.

Influences operating well over the prices in Lower Mainland Residential Property Industry

When you are looking at a home for sale in the Canadian Property Local market, you require to possess a sharp comprehension of what you are generally looking for before you set down any money.

When seeking for british columbia housing, you need to ascertain you have the top residential agent in Vancouver to ensure you do not spend excessively for your townhouse or town property.

The most effective way to go about this is being tactical in your pricing process and ensure you have the very best system before you reach out to property buyers in the lower mainland.

One particular and helpful method is to take up the labors of a realtor in bc to assure you have the most beneficial available result when you reach out to home homeowners, particularly whenever you bargain for an abode, possibly an one bedroom or a 2 bedrooms.

If you wish to get the best resale value on your home, the most effective wager is to hire an Agent that knows of home improvements and fix and quickly sell practices.

The Real Estate Industry in Canada will continue to drop for several weeks imminently. This is mostly legitimate after covid 19. The most desired manner to acquire a house as a first time home buyer is to aspire to achieve minimum eight% off the asking sales price and steer clear of multiple offer circumstances

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15 Hilarious Videos About Vancouver MLS

Residential Property Market Update

While the Vancouver real estate current market is continuing to struggle as the global economic downturn continues to tighten its grip on the rest of the world, Burnaby is taking pleasure in stable growth in home values, including listings for separated houses. The reason why they are seeing prices boost is because of many factors, not the least of which is a healthy supply of homes for sale. Rates here stay listed below rates in some of the other locations in the region, with a substantial distinction in demand between people seeking to move into Burnaby and people that wish to live in this flourishing city.

In Vancouver, the Housing Current market is starting to get in rate, regardless of the fact that nearly half of Metro Vancouver is still under water. The outcome is a sluggish healing, and the foreboding indications of a downturn might start to emerge soon. Vancouver has historically been the hottest land current market in the country and is starting to feel the pinch from the decrease in the remainder of the country.

Are You Getting the Most Out of Your Burnaby Real Estate Market?

A downturn in price boosts will certainly make sellers aim to move, and it is likely that you'll be purchasing in a declining current market. If you are looking to sell your home, and the prices appear a little high, perhaps it's time to let another person have a shot at buying the property you desire to buy. The BC Federal government just recently reserved $25 million in their budget plan to assist people who are dealing with a foreclosure or short sale.

We understand that the economy isn't going to stay where it remains in the short-term and the BC genuine estate current market is no exception. People can't get the house they desire unless prices increase to a point where they have the ability to meet their requirements. A Burnaby BC house for sale that is priced too expensive is just a gamble that the purchaser will not have the ability to fulfill your needs or a dream home is just a waste of cash.

The year was not a banner one for the BC home sales current market. In spite of the house value healing, the numbers weren't quite what many professionals anticipated. It was believed that homes would recover rapidly enough to supply the required relief for customers in Vancouver. Despite the fact that Vancouver is the hot property current market in the province, it does not indicate the remainder of the state has outgrown its smaller sized cousin.

If you're looking to purchase in the brief term, now is the time to recognize that the rates are not going to return to what they were last summertime. The same thing uses to selling your home. Don't wait to make the most of the economy in order to follow suit.

We see house sales figures as being impacted by many elements and that consists of the economy. Although there is a short-term slowdown, it is just short-lived and as long as the markets hold their own, you'll be fine.

The Most Influential People in the Lower Mainland Housing Market Industry

Land agents that monitor their client lists and the location of the area they reside in will inform you that what is great for you might not be so great for them. It is true that sometimes things will alter due to the financial fluctuations, but for one of the most part, the economy is the same as it was before the international monetary crisis.

Many purchasers do not take advantage of the time and the cash that they will save by not putting off the need to move in to an area in the BC land market during these economic times. They will wait up until it becomes more financially rewarding and then acquire a home that is priced far below market price. It is a kind of self-confidence, however an important one that must not be forgotten.

It is a regrettable fact that the marketplace has slowed in Burnaby BC due to the negative impact of the Global Financial Crisis. Due to the crisis, many lenders secured high interest rates and were forced to make more available. Thisis taking more cash out of people's pockets, and this suggests less cash to invest on homes.

Homes are priced far below their worth. They are less costly than what lots of individuals can pay for. You 'd be sensible to make plans to sell at a reasonable rate if you were looking to acquire a house now.

To much better understand the problem dealt with by the BC housing current market, one only requires to visit our sis website B.C Residential property News. or go directly to Land Newsletter BC.

North Vancouver Housing - What Drives Costs?

Lots of aspects can impact North Vancouver housing rates. Perhaps most crucial is the need for home in the area.

The need is impacted by a number of factors including population development, the variety of brand-new house building, real estate sales and patterns in business and leisure markets. A decline in organisation activity could lead to a dip in sales and a subsequent decline in the local home market.

Individuals wanting to buy a house might consider buying a condo to better comprehend the North Vancouver property market. The condo market is highly competitive, nevertheless, and numerous homeowners do not offer. For this reason, it's typically hard to find an excellent rate on a condominium, and purchasers typically discover that they are contending with other interested buyers for an offered condominium.

Many individuals relocate to North Vancouver from the Lower Mainland to pursue education or professions. Many stay to raise households or pursue their interests and pastimes. With North Vancouver is such a little neighborhood, it is possible to live a lifestyle that is very various from other locations of the Lower Mainland.

Sales figures tell a story about the market. It is worth examining sales figures in detail to get a clearer image of what is happening in the real estate market.

What the Best BC real estate listings Pros Do (and You Should Too)

Sales show sales activity throughout the area. Nevertheless, sales figures can not be computed directly by looking at the average daily sales of the North Vancouver real estate current market. To offer an accurate photo of sales, sales figures require to be compared against the typical day-to-day figures for all of Metro Vancouver.

It's not unusual for salesto fall in the very first few months of the real property market following a huge current market modification. Other times, there will be a rise in sales to a peak prior to they ultimately level off. This is regular behaviour, as purchasers and sellers adapt to the brand-new market realities.

Rates differ extensively across the North Vancouver residential property current market. Market prices depend upon local need, surrounding homes, and the economy. In addition, the present value of the home, and the residential or commercial property sales tax are likewise a major influence on costs.

The expense of a normal condo in North Vancouver depends upon the type of system, the size of the system, the area, and the features. Condos, apartments and townhouses are offered at differing prices, based upon their specific needs and preferences.

Other aspects include current market demand, the demographics of the area, the rates of nearby companies, and the economic climate in Vancouver. Areas that are quick growing in the Lower Mainland tend to have higher residential or commercial property worths than neighbourhoods that are having a hard time.

All the factors mentioned above have an effect on the North Vancouver real property current market. All of these elements add to a completely balanced current market, so that there is no one factor that influences the total residential or commercial property worths in North Vancouver.

Acquiring a condominium or a house in North Vancouver is a financial investment. The worth of the financial investment is figured out by several factors, consisting of the location, the type of home, the cost of property, the demand for that property, and the inflation of the residential or commercial property.

The year was not a banner one for the BC house sales current market. Sales figures inform a story about the market. It is worth analyzing sales figures in detail to get a clearer photo of what is happening in the real estate current market.

Sales figures can not be calculated directly by looking at the typical day-to-day sales of the North Vancouver genuine estate current market. It's not uncommon for salesto fall in the very first couple of months of the real property market following a big current market change.

Vancouver Residential Market and the Variables exposed

Make sure you establish a sturdy tactical plan early on right before you start your dream residence hunt in the housing industry in Canada.

The most important aspect in your mls search in the lower mainland is to be sure you get a fantastic realtor that will acquire you the most efficient possible value for a home or a condominium.

Anyone will wish to possess a method before you reach out to any possible homeowners, and whenever you get in touch with them to make certain that these guys are offering what you desire.

One can surely furthermore involve the assistance of a specialist or business advisor who can offer anyone with advice on ways to offer your land in the Canadian Housing Local Market.

A Realtor might supply you many ideas to encourage you get par excellence price for your reselling and offer you with the leading possible possibility to get the discount of an existence.

The prices of apartments in the Canadian Property Industry has been continuously softening over the former year, and it will certainly nevertheless degenerate past the future few many years.

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12 Companies Leading the Way in Lower Mainland Property

Real Property Current Market Update

While the Vancouver property current market is continuing to struggle as the global recession continues to tighten its grip on the remainder of the world, Burnaby is enjoying consistent growth in house values, consisting of listings for removed houses. The reason that they are seeing prices boost is because of many reasons, not the least of which is a healthy supply of homes for sale. Prices here remain below prices in some of the other locations in the area, with a huge difference in demand in between individuals seeking to move into Burnaby and people that want to live in this growing city.

In Vancouver, the Real Property Market is starting to pick up in price, regardless of the truth that nearly half of City Vancouver is still under water. The result is a sluggish healing, and the foreboding signs of a slowdown could start to end up being apparent soon. Vancouver has actually traditionally been the hottest housing market in the nation and is beginning to feel the pinch from the decrease in the remainder of the country.

The 13 Best Pinterest Boards for Learning About Vancouver neighbourhoods

A slowdown in cost increases will certainly make sellers seek to move, and it is highly likely that you'll be purchasing in a declining market. If you are aiming to offer your house, and the prices appear a little high, maybe it's time to let somebody else have a shot at buying the home you desire to buy. The BC Federal government recently set aside $25 million in their budget to help individuals who are facing a foreclosure or short sale.

We understand that the economy isn't going to remain where it remains in the short-term and the BC property market is no exception. People can't get the home they desire unless costs rise to a point where they are able to satisfy their needs. A Burnaby BC house for sale that is priced expensive is just a gamble that the buyer won't have the ability to fulfill your needs or a dream home is just a waste of cash.

The year was not a banner one for the BC house sales market. In spite of the house value recovery, the numbers weren't rather what many experts anticipated. It was believed that houses would recover rapidly enough to supply the needed relief for customers in Vancouver. Despite the fact that Vancouver is the hot property current market in the province, it does not suggest the remainder of the district has actually outgrown its smaller cousin.

If you're seeking to purchase in the short term, now is the time to realize that the rates are not going to return to what they were last summer season. The same thing uses to selling your house. Do not wait to make the most of the economy in order to follow suit.

We see home sales figures as being impacted by numerous factors and that includes the economy. Although there is a short-term downturn, it is only short-lived and as long as the marketplaces hold their own, you'll be great.

The 12 Worst Types Burnaby Real Estate Market Accounts You Follow on Twitter

Housing representatives that monitor their customer lists and the location of the region they reside in will tell you that what is good for you might not be so good for them. It is true that often things will change due to the economic variations, however for the most part, the economy is the same as it was prior to the global financial crisis.

Lots of purchasers do not benefit from the time and the cash that they will conserve by not putting off the need to move in to an area in the BC real property market throughout these economic times. They will wait until it becomes more rewarding and after that buy a home that is priced far below market value. It is a kind of self-confidence, but an important one that ought to not be forgotten.

It is a regrettable reality that the market has actually slowed in Burnaby BC due to the negative effect of the Global Financial Crisis. Due to the crisis, numerous loan providers took out high rate of interest and were forced to make more available. Thisis taking more cash out of individuals's pockets, and this suggests less cash to invest on homes.

Residences are priced far below their worth. They are less costly than what lots of people can pay for. If you were looking to buy a house now, you 'd be wise to make strategies to cost a reasonable rate.

To better understand the issue dealt with by the BC residential property market, one only needs to visit our sister website B.C Real property News. or go straight to Property Newsletter BC.

North Vancouver Real Estate - What Drives Prices?

Lots of factors can affect North Vancouver real property costs. Perhaps most essential is the demand for residential or commercial property in the location.

The need is affected by a number of aspects including population development, the variety of new house building and construction, housing sales and patterns in business and leisure markets. A decrease in business activity could result in a dip in sales and a subsequent decrease in the regional property current market.

Individuals seeking to acquire a home might consider buying a condo to better comprehend the North Vancouver real property market. The condo current market is highly competitive, nevertheless, and numerous house owners do not sell. For this factor, it's typically tough to discover a great rate on a condo, and buyers often find that they are contending with other interested purchasers for an offered apartment.

Many individuals move to North Vancouver from the Lower Mainland to pursue education or careers. Numerous stay to raise households or pursue their interests and pastimes. With North Vancouver is such a small neighborhood, it is possible to live a lifestyle that is very various from other areas of the Lower Mainland.

Sales figures tell a story about the marketplace. Sales will be lower if services are sluggish. The numbers will be greater if sales are up. It is worth taking a look at sales figures in information to get a clearer image of what is taking place in the property market.

30 of the Punniest Home Prices Puns You Can Find

Sales reflect sales activity across the area. Sales figures can not be determined straight by looking at the typical daily sales of the North Vancouver real estate market. To give an accurate image of sales, sales figures require to be compared versus the average daily figures for all of Metro Vancouver.

It's not uncommon for salesto fall in the very first couple of months of the real property current market following a huge market change. Other times, there will be a surge in sales to a peak prior to they ultimately level off. This is typical behaviour, as buyers and sellers adapt to the brand-new current market truths.

Rates vary extensively throughout the North Vancouver land market. Market rates depend on regional demand, surrounding residential or commercial properties, and the economy. In addition, the present value of the property, and the residential or commercial property sales tax are likewise a significant influence on rates.

The cost of a common condominium in North Vancouver depends upon the type of system, the size of the system, the place, and the amenities. Condominiums, townhouses and condominiums are cost varying costs, based upon their private needs and preferences.

Other factors consist of current market demand, the demographics of the area, the rates of close-by services, and the financial environment in Vancouver. Areas that are fast growing in the Lower Mainland tend to have greater home worths than neighbourhoods that are having a hard time.

All the elements discussed above have an impact on the North Vancouver housing market. All of these aspects contribute to a perfectly well balanced market, so that there is no one element that affects the general property worths in North Vancouver.

Purchasing a condo or a home in North Vancouver is a financial investment. The worth of the investment is determined by a number of factors, including the location, the kind of property, the expense of property, the need for that property, and the inflation of the property.

The year was not a banner one for the BC home sales market. Sales figures tell a story about the market. It is worth examining sales figures in information to get a clearer picture of what is taking place in the real estate market.

Sales figures can not be calculated directly by looking at the typical day-to-day sales of the North Vancouver real estate current market. It's not unusual for salesto fall in the first couple of months of the real property current market following a huge current market modification.

Factors which Have An Effect On the Sales Prices on the Burnaby BC Residential Industry

When checking out a residence for sale in the Canadian Property Market, you need to come with a transparent knowledge of what you are generally seeking out before you put down any dollars.

The most important consideration in your mls search in the lower mainland is to guarantee you possess an excellent real estate professional that may acquire you the most efficient feasible price for a residence or a condo.

The very best way to deal with this is being tactical in your pricing course of action and ensure you obtain the very best strategy before you reach out to apartment buyers in the lower mainland.

A better solution would be to find a residential property agent in vancouver bc canada to deliver you an exhaustive synopsis of the housing industry in bc so you have the ability to compete with other property investors.

A realtor agent or advisor may offer individuals pointers on ways to grow your building's resell valuation, that can easily thereupon transpose right into higher sales prices for the residential property.

The values of residential properties in the Canadian Housing Market has been slowly but surely lowering over the recent many years, and it will definitely remain to weaken over the following few many years.

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12 Stats About Burnaby Real Estate Market to Make You Look Smart Around the Water Cooler

Residential Property Market Update

While the Vancouver real estate market is continuing to struggle as the worldwide recession continues to tighten its grip on the rest of the world, Burnaby is enjoying consistent growth in house values, including listings for removed houses. The reason why they are seeing prices increase is because of many reasons, not the least of which is a healthy supply of homes for sale. Prices here stay listed below prices in some of the other locations in the region, with a big distinction in need between individuals looking to move into Burnaby and people that wish to reside in this booming city.

In Vancouver, the Real Property Current market is beginning to choose up in price, regardless of the truth that nearly half of City Vancouver is still under water. The outcome is a sluggish healing, and the foreboding indications of a slowdown could begin to emerge quickly. Vancouver has historically been the most popular genuine estate market in the country and is starting to feel the pinch from the decline in the remainder of the country.

The Lower Mainland Real Estate Market Awards: The Best, Worst, and Weirdest Things We've Seen

A downturn in cost boosts will unquestionably make sellers seek to move, and it is extremely most likely that you'll be purchasing in a decreasing market. If you are aiming to offer your home, and the list prices seem a little high, maybe it's time to let somebody else have a shot at purchasing the residential or commercial property you want to purchase. The BC Federal government recently reserved $25 million in their budget plan to help individuals who are facing a foreclosure or short sale.

We understand that the economy isn't going to remain where it remains in the short term and the BC land current market is no exception. Individuals can't get the home they desire unless rates increase to a point where they have the ability to satisfy their requirements. A Burnaby BC house for sale that is priced too expensive is just a gamble that the purchaser will not be able to satisfy your needs or a dream home is simply a waste of money.

The year was not a banner one for the BC house sales current market. In spite of the home value healing, the numbers weren't rather what a lot of specialists expected. It was thought that houses would recuperate quickly enough to supply the needed relief for customers in Vancouver. Vancouver is the hot residential or commercial property market in the district, it doesn't suggest the rest of the district has actually outgrown its smaller sized cousin.

If you're seeking to purchase in the short-term, now is the time to recognize that the costs are not going to return to what they were last summertime. The very same thing applies to selling your house. Don't wait to take advantage of the economy in order to follow suit.

We see house sales figures as being impacted by lots of elements which consists of the economy. Although there is a short-term slowdown, it is just short-lived and as long as the marketplaces hold their own, you'll be great.

11 Ways to Completely Sabotage Your BC housing market

Residential property representatives that monitor their customer lists and the area of the region they reside in will tell you that what is great for you may not be so helpful for them. It is true that often things will alter due to the economic changes, but for one of the most part, the economy is the same as it was before the international financial crisis.

Numerous buyers don't make the most of the time and the cash that they will conserve by not putting off the requirement to relocate to an area in the BC property market during these economic times. They will wait until it becomes more financially rewarding and then acquire a house that is priced far listed below market price. It is a type of confidence, but an essential one that should not be forgotten.

It is an unfortunate reality that the current market has slowed in Burnaby BC due to the negative impact of the Global Financial Crisis. Due to the crisis, many loan providers took out high interest rates and were forced to make more offered. Thisis taking more cash out of individuals's pockets, and this suggests less money to spend on houses.

Homes are priced far below their worth. They are more economical than what lots of individuals can manage. You 'd be smart to make plans to sell at an affordable rate if you were looking to acquire a home now.

To much better understand the problem faced by the BC residential property market, one only requires to visit our sis website B.C Land News. or go directly to Real property Newsletter BC.

North Vancouver Property - What Drives Costs?

Lots of elements can affect North Vancouver housing costs. Maybe crucial is the demand for residential or commercial property in the location.

The demand is affected by a variety of elements consisting of population growth, the variety of new home building and construction, housing sales and trends in the organisation and leisure markets. A reduction in service activity might lead to a dip in sales and a subsequent decrease in the local residential or commercial property market.

People seeking to purchase a home may consider buying a condominium to better understand the North Vancouver land current market. The condominium market is highly competitive, nevertheless, and numerous house owners do not offer. For this factor, it's often tough to find a great cost on a condominium, and buyers often find that they are taking on other interested purchasers for an available condo.

Many individuals move to North Vancouver from the Lower Mainland to pursue education or careers. Numerous stay to raise households or pursue their pastimes and interests. With North Vancouver is such a small community, it is possible to live a way of life that is very various from other locations of the Lower Mainland.

Sales figures inform a story about the marketplace. Sales will be lower if companies are sluggish. The numbers will be higher if sales are up. It is worth analyzing sales figures in information to get a clearer photo of what is happening in the land current market.

Think You're Cut Out for Doing Vancouver housing affordability? Take This Quiz

Sales reflect sales activity across the region. Sales figures can not be determined directly by looking at the average day-to-day sales of the North Vancouver genuine estate current market. To offer a precise image of sales, sales figures need to be compared versus the average daily figures for all of Metro Vancouver.

It's not uncommon for salesto fall in the very first couple of months of the residential property market following a huge market modification. Other times, there will be a surge in sales to a peak prior to they eventually level off. This is typical behaviour, as sellers and buyers adapt to the new current market realities.

Rates vary extensively across the North Vancouver residential property market. Market prices depend upon regional demand, surrounding homes, and the economy. In addition, the present value of the property, and the home sales tax are also a major impact on prices.

The cost of a typical condominium in North Vancouver depends on the kind of unit, the size of the system, the area, and the facilities. Condos, townhouses and condominiums are sold at varying prices, based upon their private needs and preferences.

Other factors include market need, the demographics of the area, the rates of neighboring organisations, and the economic environment in Vancouver. Areas that are fast growing in the Lower Mainland tend to have greater home worths than areas that are struggling.

All the factors pointed out above have an effect on the North Vancouver real property current market. All of these aspects contribute to a perfectly well balanced current market, so that there is no one element that influences the general residential or commercial property values in North Vancouver.

Acquiring a condo or a home in North Vancouver is a financial investment. The worth of the investment is figured out by numerous factors, including the place, the kind of property, the cost of home, the need for that home, and the inflation of the property.

The year was not a banner one for the BC house sales current market. Sales figures inform a story about the current market. It is worth taking a look at sales figures in information to get a clearer picture of what is occurring in the genuine estate current market.

Sales figures can not be calculated directly by looking at the typical daily sales of the North Vancouver real estate current market. It's not uncommon for salesto fall in the very first few months of the property market following a big current market change.

Influences acting over the values in Lower Mainland Real Estate Market

Ensure you cultivate a tough tactical plan right away just before you commence your dream property hunt in the property market in Canada.

Probably the most important aspect in your mls search in the lower mainland is to be sure you possess a terrific real estate agent that will discover you the most efficient feasible price for a house or a condominium.

Just before you depart when traveling to look for a home, ensure you get a strategy, especially just before you connect to home vendors as a home buyer.

A more desirable tactic might probably be to work with a property agent in vancouver bc canada to bring you a complete examination of the housing market in bc hence you have the capacity to take on other property vendors.

If you wish to get the best resale value on your home, the best bet is to look for a Real estate agent that knows about facelifts and renovate and flip over options.

Be careful the second you are buying a villa as a first time home buyer. Market Prices in Canadian Residential have been lessening and it is anticipated that they will continue to decline.

[lovelyfantasticfart]

Residing Stingy: 03/01/2018

The ingredient was discovered to be the culprit. I discovered it fasinating! Have you learnt around 65% of real estate brokers in Greater Vancouver will change their work in 5 years? 7 years in the past from Vancouver, B.C. A: I labored in politics for mainly 20 years and by no means noticed housing as a top-5 concern. Different factors currently holding home values stable are continued foreign curiosity and a slowing new housing inventory into the market. The OECD, meanwhile, warned in January that Switzerland needed to take steps like phasing out tax allowances on interest bills to rein in credit with a purpose to keep away from a housing bubble. The definition of a real estate bubble is when the worth of an asset rises above what native incomes can afford. While perfection may not exist in terms of a country to retire to, I do know that if one has a dream, and if that dream is nourished daily, that dream can come true. While this might sound inconsequential, a thief is easier in a position to entry a ground flooring room.

Possibly you鈥檝e skilled them while staying at a resort, in the woods for a camping journey, or every other kind of vacation. Over 90 minutes, the Dyson heated the room to 70 degrees, and consumed 2.927 kWh, whereas the conventional heater used 3.188 kWh in the same time frame, and solely reached 66 levels. The real Estate Board of Larger Vancouver reported 3,218 gross sales via the Multiple Listings Service, a 5-per-cent decline from the same month a year ago. We鈥檝e witnessed a 10.6 percent enhance in sales for the month of Might versus Could, 2015. The Toronto actual estate board has gone on file saying that this improve in gross sales has created a scarcity of sure listings. We offer top quality aerial drone photography and videography for actual property in Metro Vancouver! BC has the very best job vacancy fee in Canada, and Metro Vancouver鈥檚 fee is probably going increased. Should you run and permit your heel to strike the ground, you will jar your physique. It will assist you to sparkle much more as you're walking down the aisle, illuminating the elegance that you've got. Investments in residential real estate in Greater Vancouver have been characterized by an distinctive stability.

I've created a one-of-a-form, comprehensive advertising system for selling real property that works. Canadian Real Estate Buyers seminar Dwell Coaching is a watch opener to flip houses for fast revenue. The advantage of utilizing websites for your property hunt is that you not only get access to real property listings, but also to numerous publications and newsletters that keep you up to date on the actual property front. Stay with optimistic folks 鈥?and if you're feeling depressed and can鈥檛 really feel positive instantly, effectively, don鈥檛 wallow, get mad 鈥?mad is healthier than depressed. Transferring day is going to be a very sad one for each of us, (although we are trying to stay optimistic. Usually Clark County freeways away from the Columbia are working on the limit around the clock. Firstly, staff don't want the employer to spend solely cash on them as they're already getting a wage they usually like numerous strategies of appreciation. Observe also that if you work for a company that can鈥檛 explain to you ways they become profitable in 10 phrases or less, I鈥檇 head for the door as nicely.

175,000 or less, which is much increased than Western Investor initially reported. Yet with these high costs there are nonetheless younger professionals with goals of rising their households flocking to this nice neighbourhood. LoopNet additionally attracts a large community of Vancouver Canada Condominium Constructing professionals with more than 7 million members comprised of brokers, corporate executives, service suppliers, and more than three million consumers, tenants and different principals throughout the U.S. 1 million range, said BMO senior economist Robert Kavcic. In 1859 Robert Burnaby, the town鈥檚 founding father and namesake, was exploring the region when he stumbled upon a gorgeous freshwater lake that he christened 'Burnaby Lake'. Mr. Saretsky says he鈥檚 seen the market for detached homes go gentle all through the region and now, he鈥檚 seeing gross sales for townhouses and two-bedroom condos additionally decline. How is the US housing market doing? 1,564,000, and the average days on market were 48. The most well liked gross sales market was Grandview with 9 gross sales.

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[rebeccahpedersen]

What Is False Advertising, Anyways?

TorontoRealtyBlog

I’m about to open a can of worms here, but this can needs to be opened.

Then it needs to be examined by all the real estate bodies in existence, and active buyer-agents should have a look inside too in order to prepare themselves for what’s going on out there right now.

We all know that properties in Toronto are usually under-listed at a price that the seller won’t actually accept, with an unofficial auction we call “offer night.”

But what if there was no offer night?  What if the property was listed at a price that the seller would never, ever, consider accepting?

For as long as I’ve been in the real estate business, properties have been listed and sold with “offer nights.”

It seems like a completely reasonable way to sell real estate in a hot market.

List a property for sale, and review offers on a given day, at a given time.

It’s smart.

It ensures the property is exposed to the market for a long enough period of time that all the interested parties are able to view it.

Whether you’re a frustrated buyer, a real estate bear, or just have a hate-on for real estate and real estate agents, you simply can’t deny that exposing the property to the market for 6-8 days makes sense.

Now, throw the “under-listing” into the equation, and you have a legitimate beef.

The public doesn’t like it, and I don’t blame them.

But for as long as I’ve been in this business, properties have been under-listed, and along with the set “offer night,” we’ve had a form of blind auction that results in houses selling for way more than the asking price.

The spread between the list price and the sale price has grown in recent years.

I remember the first time I was in multiple offers – it was September of 2004.

A bungalow in Leaside was listed at $429,900, there were 12 offers, we bid $465,000, and the house sold for $480,000.

Imagine if there were 12 offers on any $429,900 listing today?  $480,000 would probably be in the middle of the pack.

But I also remember being in multiple offers for a house listed at $459,900, and we were the high bidder at $470,000, with two competing offers.

As the years went by, prices rose, but so too did the number of offers, and the spread between list-and-sale.

And somewhere along the way, list prices became completely detached from reality.

We used to see houses sell for $100,000 over asking, and then in the spring of 2015, that number doubled.  I remember a quote I gave to Sue Pigg from the Toronto Star around that time: “Two-hundred-thousand-over is the new one-hundred-thousand-over.”

It was just nuts.

Houses listed at $600,000 were selling for $800,000!  We had never seen anything like it!

But the absolute pinnacle of insanity hit in early 2017, when houses were being just stupidly under-listed, and the sale-to-list ratios were eye-popping.  It wasn’t uncommon to see a house listed at $699,900, and sell for $1,100,000.  170% of list price – that became a “thing.”

The problem, of course, was that listing agents were under-listing to the point of hysteria.  Maybe because nobody knew what anything was worth, and maybe because listing low really did bring in more dummy offers from, well, dummies.

As much as I hate the under-listing, I will say this: nobody really thinks that $699,900 house is going to sell for $699,900.

Why?  Because we know via the presence of the text, “Offers Reviewed On Tuesday, May 30th At 7:00pm, Please Register By 5:00pm,” that the property is being auctioned off, and the list price is merely a starting price.

Like I said – hate it if you want, but that’s the way it is, and only the completely uninformed and naive would be caught off guard by this.

Now as I said in the intro, what if a property was listed for sale – under-listed, with no offer date, advertising “offers anytime,” and continued to sit on the market?  What would that signal to buyers and other market participants?

Last week, I went to show a property listed for sale in the west end for $978,800.

The property had been listed for sale for 12 days, which is an eternity in this market.

In the Broker’s Remarks of the listing, it read, “Offers Anytime.”

Pretty, simple, right?

In this really strange market right now, we’re seeing a lot of properties listed with a hold-back on offers, and subsequent “offer night,” and then not selling, and being re-listed higher.

But we’re also seeing properties listed with “offers anytime.”

I went to see this property with my client, and we absolutely loved it.

It was detached, fully renovated, and done so very tastefully, and with great workmanship.

There was no parking space, and it was directly across from a school, and only about eight houses in from a main street, but there had to be some drawbacks, considering it was under $1,000,000.

We acted on it quickly – we submitted an offer for just under the $978,800 list price (why not try for a couple thousand, we thought?), and eagerly waited for an answer.

The agent sent me a text message and let me know that there was an offer in sign-back; from the seller to the buyer.  Thus we had no option but to wait, cross our fingers, and hope that the buyer didn’t accept the seller’s sign back.

As luck would have it, that’s exactly what happened.

The agent texted me (remember when people used to phone each other?) and let me know that the door was open for us to act.

I gave him a call just to feel him out and told him that we had no issue paying the full list price, or even higher, if the other offer was still in play.

That’s when things got weird.

His response contained a bit of a chuckle, as he said, “Huhyeah, um, well, that isn’t going to do it.”

“What isn’t going to do it?” I asked.  You’re at $979K, on the market for almost two weeks, and we’d to go a mill.  What am I missing here?” I asked.

“Do you know what market you’re working in?” he asked.  That’s something I usually say to people, not the other way around.

“What am I missing?  Tell me, please.” I told him.

And that’s when he dropped this bomb on me: “We’re looking for $1.3 Million for this house.”

What the $*%&?

What was I missing?

This house was on the market for 12 days, no offer date, offers any time.

Right?

Is there something new in the market that I’m missing?  A new way of selling houses?

Maybe, as I was about to learn…

“I don’t understand,” I told the listing agent.  “You’re sitting on the market – you have no offer date, right?”

“No, there’s no offer date,” he told me, “We’re ready to look at offers any time.”

“Then what the hell is with the price?” I asked him.

“Everybody does it,” he told me.  “That’s just our starter price,” he explained.

This made absolutely no sense to me.  I’ve been working in this market for thirteen years, and I’ve seen everything there is to see.  But this was something new, and different, and it made zero sense.

“We need to expose the property to the market as best as we can,” the listing agent told me.  “We need bodies through that house; we need eyes on it.  We need business cards on the counter, and we need a buyer frenzy.”

“But you haven’t set an offer date,” I told him.  “That’s what we do – bring the listing out at an artificially-low price, hold back offers, and have an unofficial auction.”

“That’s not what we’re doing here,” he told me.  “We’re looking at offers anytime, but we know what we want, and we want $1.3M.  The offer that was in play earlier – we signed that back at the price we wanted.”

I thought long and hard about what I was about to say next, since I’m not a fan of burning bridges, but I couldn’t resist.

“How in the world are you not guilty of false advertising?” I asked him.  “You’re listed $300,000 lower than what you’ll accept, and this isn’t a ‘list low, hold an offer night’ strategy.  I have no idea what you’re doing.  What do the sellers think?”

That’s when things got more interesting, as he told me, “Well, I guess at this point I should probably inform you that I have an interest in the property.”

Now is the time for that?

That’s supposed to be disclosed on MLS!  There’s a form for that – “Form 161: Registrant’s Disclosure of Interest in Property.”

That’s supposed to be signed by the registrant (agent) and uploaded to the MLS listing.

And after further investigation, this guy didn’t “have an interest” in the property; I’m pretty sure he owned the whole thing.  The name on title was an incorporation, of which he is the sole director.

In any event, his interest in the property wasn’t the issue here – it only exacerbated the situation, which I recapped by asking, “So you’re on the market for $978,800, but you’re looking for $1.3M, you have no offer night, and you’re not telling people that you’re looking for $1.3M, right?  You’re just letting agents and buyers waste their time by going through the house, making an offer, and then you’ll sign their offer back for $1.3M, and tell them you own the property?”

Amazingly, he said, “Well if we listed at $1.3M, we wouldn’t get as many showings.  We don’t want to scare people away.”

Right.

So instead, you’re just going to lie to them, waste their time, and in the end, make them look like fools.

I was a fool for making an offer on this property at the price I did.

But how the hell was I supposed to know otherwise?

This property has now been on the market for 16 days, unsold, with offers anytime.

It is listed for sale for $978,800.

But the property may not be purchased for any price remotely close to that number.

Ladies and gentlemen, how the HELL is this not false advertising?

That question is rhetorical, since it’s blatant false advertising.

But given that this is going on, and broker-managers are letting their agents do it, maybe the question isn’t rhetorical.  Maybe organized real estate is okay with this?

In my mind, it’s false advertising, plain and simple.

If you have an offer date set, you’re telling the market that you expect multiple offers, and essentially admitting that you’re under-listed as a means to an end.

I get that.  And so does the buyer pool, even if they don’t like it.

But are we really going to start listing properties for sale for prices that we have no intention of accepting, and simply trying to “trick” people into coming to see it?

Maybe this was a one-off.

I hope to God this was a one-off.

But as is often the case in real estate, when agents see something like this, instead of condemning it and filing a complaint, they wonder, “Can this work for my listing too?”

I’ll be sure to update this post when the property sells.  I’m keeping a sharp eye on this one…

The post What Is False Advertising, Anyways? appeared first on Toronto Real Estate Property Sales & Investments | Toronto Realty Blog by David Fleming.

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[turnkeytoday]

Town homes For sale

There are many advantages to buying a town home, but before buying, its important to consider the cost. Though town homes for sale Burnaby, B.C  can be cheaper, they are still relatively expensive compared to detached houses. The biggest drawback is that you have to factor in HOA fees and other normal home expenses as well. Its also important to

know whether your condo fees are covered by your insurance or if there will be any upcoming special assessments. When looking for town homes for sale, you should look for those that are in a community where people are familiar with each other. This will give you a good sense of the neigh borhoods amenities and other residents. If you want to make sure you won;t have to deal with a landlord, try speaking to some neighbors. It;s helpful to learn about the HOA rules and any fees. Some HOAs can be quite strict, and youll need to check with your community if this is a factor. Another thing to consider is whether youre comfortable with apartment-style living. Apartment-style living doesn;t always fit with the lifestyle of most town home communities. While this might be appealing to some, its not the best choice for others. For those who want more space, an apartment-style town home can be a better choice than an expensive condo. Additionally, they can be less expensive than a condo, so they are great for first-time buyers. While youre in town homes for sale, there are some things to keep in mind. First, they are smaller than a single-family home. They may have a small yard, but this means that they require less maintenance. This makes them an ideal choice if you don;t want to maintain your yard. Whether you live in a town home or an apartment, the size of the yard space are important factors to consider. Another advantage of town homes for sale is that they are easier to maintain. Most town homes dont require much maintenance. Some towns have HOAs that take care of exterior maintenance, which is a benefit for homeowners. Moreover, there are no restrictions on pets or children in town homes, so youll be free to enjoy a pet-free environment. The same goes for the price. Aside from a smaller yard, town homes can be a great choice for people who need a spacious home. One disadvantage of town homes for sale is that they often have multiple floors. This can make them difficult to maintain. Those who are unable to move around may prefer a ranch-style condo instead. Purchasing a town home requires you to consider these pros and cons. Aside from the price, its important to consider the location of the property. A lot of town homes are located in prime locations, and many people are not willing to pay a premium for a property in an urban area. Visit our site https://www.turnkey.today/turnkey-relocation-specialist-vancouver-edmonton/

[turnkeytoday]

How to stage your home

You can easily stage your home if you know a few simple tricks. First, avoid bright colors. These will detract from the assets of a room and make it appear smaller. Also, use neutral colors. A bold color can indicate the history of the home and may not be as attractive as other colors. For the best results, choose a neutral color for the walls. This will increase the appeal of your home to potential buyers. Once the exterior is complete, you can turn your home into a show-stopping destination. The inside is just as important as the outside, so don;t skip this step. Put fresh flowers in vases, put fresh fruit on the kitchen counter, and fold towels in the bathrooms. You can also leave nice extras in closets to attract buyers. These easy

steps will help your home sell quickly. Once youve completed the planning and the preparation, youll be ready to show it to potential buyers. Curb appeal is the most important part of staging your home, so take special care of this area. Youll want to get rid of personal items so that prospective buyers can picture themselves in the home. If you have extra shoes in the foyer, remove them. You can even place a decorative soap bar on the bathroom counter. Scented candles also add curb appeal. And last but not least, don;t forget to take pictures of the interior of the house. The best way to stage a home for sale Burnaby, B.C is to make sure that everything is clean and well-organized. The last thing you want is to stress over a few details and then find that the buyer is not the right fit. A few simple changes, such as replacing outdated carpet with new ones, can make a big difference in the way the home is perceived. You can start by sweeping the sidewalk and switching out old carpet with new ones. While you can stage your home for sale without spending a lot of money, its important to consider the type of buyers that your home is likely to attract. A house that has a large amount of furniture can make potential buyers feel overwhelmed. Adding a few extra pieces of furniture to a room makes the house look more spacious and inviting. A small living room will look better than a cramped one. A house that has little personality is unlikely to appeal to a buyer. If youre a homeowner looking to sell their home, you can also hire a professional stager. The best way to do this is to make a few smart decisions, relying on your agents guidance. Remember that your goal is to sell your house, not to entertain potential buyers. Therefore, the best way to stage your home is to create an attractive and inviting environment for potential buyers. The home should feel comfortable and inviting, as this will make it easier for your prospective buyer to feel at ease.Visit our site https://www.turnkey.today/search-edmonton-vancouver-real-estate/

[turnkeytoday]

Home Selling Tips

When selling your home, the first thing you need to do is remove as much clutter as possible. If you cant get rid of everything, then rent a storage unit, or find a family member to share some space. Box up out-of-season clothing, books, and most of your decor. Keep your furniture and decor to a minimum, as it will make the rooms appear smaller and more inviting. Many charities pick up unwanted items for free. Take good, high-quality photos of your property. Its easy to let a poor photo get in the way of a successful listing. Its not just the lighting, its also the time-stamp. Choose the best one, and make it the feature photo. Dont limit yourself to the front of the house - a good photo of a sitting room or family room is just as important. If you put too many photos, prospective buyers will not scroll through them. Sell your home to maximize profits. Before you start marketing your home, you must decide whether you;re trying to sell your home for the highest price or to sell it quickly. Aiming for a high profit can mean putting a lot of work into the house, but its worth it in the long run. There are home selling tips  you can use to make the process less stressful. You might even consider staging your property for sale. Another home selling tip   Delta, B.C is to avoid hiring a real estate agent. The process is stressful enough, so its wise to hire someone to do it for you. However, its crucial to avoid making any mistakes when selling your home. Follow these tips and you,ll be sure to get top dollar and minimize your stress level. When it comes to a sale, theres nothing worse than not receiving your money. If you;re selling your home for a profit, you should do everything possible to maximize the profit. Setting a reasonable price is also a vital home selling tip. When youre listing your house, its crucial that its priced as low as possible. A high price will attract buyers, but a lower one may lead to a higher price. A low-priced home is more likely to sell faster. You should consider the condition of the home to make sure its the right price. You should keep it as clean and clutter-free as possible. Providing visuals is another essential home selling tip. Having visuals for your home helps buyers envision themselves in the space. A clean, uncluttered space is a great way to make your house more appealing to potential buyers. If your home needs a little painting, do it now. A neutral, uncluttered space is also more inviting. It will help your home sell faster. So, remember to use these tips when selling your house! Visit our site https://www.turnkey.today/turnkey-relocation-specialist-vancouver-edmonton/

[rebeccahpedersen]

What Is False Advertising, Anyways?

TorontoRealtyBlog

I’m about to open a can of worms here, but this can needs to be opened.

Then it needs to be examined by all the real estate bodies in existence, and active buyer-agents should have a look inside too in order to prepare themselves for what’s going on out there right now.

We all know that properties in Toronto are usually under-listed at a price that the seller won’t actually accept, with an unofficial auction we call “offer night.”

But what if there was no offer night?  What if the property was listed at a price that the seller would never, ever, consider accepting?

For as long as I’ve been in the real estate business, properties have been listed and sold with “offer nights.”

It seems like a completely reasonable way to sell real estate in a hot market.

List a property for sale, and review offers on a given day, at a given time.

It’s smart.

It ensures the property is exposed to the market for a long enough period of time that all the interested parties are able to view it.

Whether you’re a frustrated buyer, a real estate bear, or just have a hate-on for real estate and real estate agents, you simply can’t deny that exposing the property to the market for 6-8 days makes sense.

Now, throw the “under-listing” into the equation, and you have a legitimate beef.

The public doesn’t like it, and I don’t blame them.

But for as long as I’ve been in this business, properties have been under-listed, and along with the set “offer night,” we’ve had a form of blind auction that results in houses selling for way more than the asking price.

The spread between the list price and the sale price has grown in recent years.

I remember the first time I was in multiple offers – it was September of 2004.

A bungalow in Leaside was listed at $429,900, there were 12 offers, we bid $465,000, and the house sold for $480,000.

Imagine if there were 12 offers on any $429,900 listing today?  $480,000 would probably be in the middle of the pack.

But I also remember being in multiple offers for a house listed at $459,900, and we were the high bidder at $470,000, with two competing offers.

As the years went by, prices rose, but so too did the number of offers, and the spread between list-and-sale.

And somewhere along the way, list prices became completely detached from reality.

We used to see houses sell for $100,000 over asking, and then in the spring of 2015, that number doubled.  I remember a quote I gave to Sue Pigg from the Toronto Star around that time: “Two-hundred-thousand-over is the new one-hundred-thousand-over.”

It was just nuts.

Houses listed at $600,000 were selling for $800,000!  We had never seen anything like it!

But the absolute pinnacle of insanity hit in early 2017, when houses were being just stupidly under-listed, and the sale-to-list ratios were eye-popping.  It wasn’t uncommon to see a house listed at $699,900, and sell for $1,100,000.  170% of list price – that became a “thing.”

The problem, of course, was that listing agents were under-listing to the point of hysteria.  Maybe because nobody knew what anything was worth, and maybe because listing low really did bring in more dummy offers from, well, dummies.

As much as I hate the under-listing, I will say this: nobody really thinks that $699,900 house is going to sell for $699,900.

Why?  Because we know via the presence of the text, “Offers Reviewed On Tuesday, May 30th At 7:00pm, Please Register By 5:00pm,” that the property is being auctioned off, and the list price is merely a starting price.

Like I said – hate it if you want, but that’s the way it is, and only the completely uninformed and naive would be caught off guard by this.

Now as I said in the intro, what if a property was listed for sale – under-listed, with no offer date, advertising “offers anytime,” and continued to sit on the market?  What would that signal to buyers and other market participants?

Last week, I went to show a property listed for sale in the west end for $978,800.

The property had been listed for sale for 12 days, which is an eternity in this market.

In the Broker’s Remarks of the listing, it read, “Offers Anytime.”

Pretty, simple, right?

In this really strange market right now, we’re seeing a lot of properties listed with a hold-back on offers, and subsequent “offer night,” and then not selling, and being re-listed higher.

But we’re also seeing properties listed with “offers anytime.”

I went to see this property with my client, and we absolutely loved it.

It was detached, fully renovated, and done so very tastefully, and with great workmanship.

There was no parking space, and it was directly across from a school, and only about eight houses in from a main street, but there had to be some drawbacks, considering it was under $1,000,000.

We acted on it quickly – we submitted an offer for just under the $978,800 list price (why not try for a couple thousand, we thought?), and eagerly waited for an answer.

The agent sent me a text message and let me know that there was an offer in sign-back; from the seller to the buyer.  Thus we had no option but to wait, cross our fingers, and hope that the buyer didn’t accept the seller’s sign back.

As luck would have it, that’s exactly what happened.

The agent texted me (remember when people used to phone each other?) and let me know that the door was open for us to act.

I gave him a call just to feel him out and told him that we had no issue paying the full list price, or even higher, if the other offer was still in play.

That’s when things got weird.

His response contained a bit of a chuckle, as he said, “Huhyeah, um, well, that isn’t going to do it.”

“What isn’t going to do it?” I asked.  You’re at $979K, on the market for almost two weeks, and we’d to go a mill.  What am I missing here?” I asked.

“Do you know what market you’re working in?” he asked.  That’s something I usually say to people, not the other way around.

“What am I missing?  Tell me, please.” I told him.

And that’s when he dropped this bomb on me: “We’re looking for $1.3 Million for this house.”

What the $*%&?

What was I missing?

This house was on the market for 12 days, no offer date, offers any time.

Right?

Is there something new in the market that I’m missing?  A new way of selling houses?

Maybe, as I was about to learn…

“I don’t understand,” I told the listing agent.  “You’re sitting on the market – you have no offer date, right?”

“No, there’s no offer date,” he told me, “We’re ready to look at offers any time.”

“Then what the hell is with the price?” I asked him.

“Everybody does it,” he told me.  “That’s just our starter price,” he explained.

This made absolutely no sense to me.  I’ve been working in this market for thirteen years, and I’ve seen everything there is to see.  But this was something new, and different, and it made zero sense.

“We need to expose the property to the market as best as we can,” the listing agent told me.  “We need bodies through that house; we need eyes on it.  We need business cards on the counter, and we need a buyer frenzy.”

“But you haven’t set an offer date,” I told him.  “That’s what we do – bring the listing out at an artificially-low price, hold back offers, and have an unofficial auction.”

“That’s not what we’re doing here,” he told me.  “We’re looking at offers anytime, but we know what we want, and we want $1.3M.  The offer that was in play earlier – we signed that back at the price we wanted.”

I thought long and hard about what I was about to say next, since I’m not a fan of burning bridges, but I couldn’t resist.

“How in the world are you not guilty of false advertising?” I asked him.  “You’re listed $300,000 lower than what you’ll accept, and this isn’t a ‘list low, hold an offer night’ strategy.  I have no idea what you’re doing.  What do the sellers think?”

That’s when things got more interesting, as he told me, “Well, I guess at this point I should probably inform you that I have an interest in the property.”

Now is the time for that?

That’s supposed to be disclosed on MLS!  There’s a form for that – “Form 161: Registrant’s Disclosure of Interest in Property.”

That’s supposed to be signed by the registrant (agent) and uploaded to the MLS listing.

And after further investigation, this guy didn’t “have an interest” in the property; I’m pretty sure he owned the whole thing.  The name on title was an incorporation, of which he is the sole director.

In any event, his interest in the property wasn’t the issue here – it only exacerbated the situation, which I recapped by asking, “So you’re on the market for $978,800, but you’re looking for $1.3M, you have no offer night, and you’re not telling people that you’re looking for $1.3M, right?  You’re just letting agents and buyers waste their time by going through the house, making an offer, and then you’ll sign their offer back for $1.3M, and tell them you own the property?”

Amazingly, he said, “Well if we listed at $1.3M, we wouldn’t get as many showings.  We don’t want to scare people away.”

Right.

So instead, you’re just going to lie to them, waste their time, and in the end, make them look like fools.

I was a fool for making an offer on this property at the price I did.

But how the hell was I supposed to know otherwise?

This property has now been on the market for 16 days, unsold, with offers anytime.

It is listed for sale for $978,800.

But the property may not be purchased for any price remotely close to that number.

Ladies and gentlemen, how the HELL is this not false advertising?

That question is rhetorical, since it’s blatant false advertising.

But given that this is going on, and broker-managers are letting their agents do it, maybe the question isn’t rhetorical.  Maybe organized real estate is okay with this?

In my mind, it’s false advertising, plain and simple.

If you have an offer date set, you’re telling the market that you expect multiple offers, and essentially admitting that you’re under-listed as a means to an end.

I get that.  And so does the buyer pool, even if they don’t like it.

But are we really going to start listing properties for sale for prices that we have no intention of accepting, and simply trying to “trick” people into coming to see it?

Maybe this was a one-off.

I hope to God this was a one-off.

But as is often the case in real estate, when agents see something like this, instead of condemning it and filing a complaint, they wonder, “Can this work for my listing too?”

I’ll be sure to update this post when the property sells.  I’m keeping a sharp eye on this one…

The post What Is False Advertising, Anyways? appeared first on Toronto Real Estate Property Sales & Investments | Toronto Realty Blog by David Fleming.

Originated from http://ift.tt/2rcH4RX

[rebeccahpedersen]

Real Estate’s New Problem: Listing & Re-Listing

TorontoRealtyBlog

Just when you thought that the real estate market was at the maximum level of frustration, it’s as though Realtors found a new and improved way of pissing people off.

While the rampant under-listing of properties that led to multiple offers on every single listing was frustrating to no end for buyers, the new trend that’s resulted from changing market conditions may be bothering buyers even more.

I’ve never seen so many properties being re-listed at higher prices in my career.

Let me explain what’s going on, and how we got here…

We’re in a really, really weird market right now.

The market has changed, but that doesn’t automatically mean that prices are down.

To be honest, I do think prices are down – a smidge.

There are still houses selling for 140% of list price every night.  But not as often as was the case in February and March.

April was a “transition month,” and I’ll blog about this next week in a separate, dedicated post.

But in any transition, people can be slow to adapt.  And right now, it’s the sellers, and the listing agents that are not just slow to adapt – they’re downright refusing to.

Listings are up in May, and whether the number of buyers is the same, or whether there are more buyers on the sidelines taking the “wait-and-see” approach, remains to be seen.

But I also think that with the hottest January/February/March on record, a lot of the would-be spring buyers, have already bought.

The result?

More listings, fewer buyers.

And this does not lend itself to the tradition of listing low, getting multiple offers, and selling for insane list-to-sale ratios.

Over the last decade, it’s been easy to take a $1,000,000 house, list it for $799,900, get six offers, and sell for $1,000,000 or more.

But this “transition” in April has led to a significant change, not in terms of price, but rather in terms of process in the month of May.

I started to notice this in the last week of April, when a few houses that would have, could have, should have sold, did not.

These houses were subsequently re-listed at higher prices, the day after the scheduled “offer night.”

I had a listing on the east side around that time, and we got lucky – with a bully offer for $200,000 over our list price.  But all the houses around us?  It was Re-List City, and we were living in the heart of it.

In fact, as we approach the end of May, what I’m seeing is absolutely shocking.

I would estimate that 1/3 of all houses, priced between $700 – $1.2M, are being re-listed at higher prices, after their failed “offer nights.”

And it’s making the market even more manic than it was when we had under-listing, offer nights, and multiple offers.

Who would have thought – as bad as things were, it could actually get worse.

So what’s going on out there?

I’ll give you an example.

A seller has a house that is worth around $1,000,000.  In January, February, or March, the seller would list low – perhaps $799,900, hold back offers, and schedule an offer night.

On offer night, because there was so little on the market, and so many more buyers, that listing would pull, say, 8-10 offers.

And the house would sell for $1,050,000, which is more than the seller thought it was “worth.”

This is the way things have been for the better part of my 13 years in the business, and up until now, the market has been so efficient, that a seller and a listing agent don’t need to figure out what the property is worth, and risk under-pricing and leaving money on the table.  Instead, they’d list well, well below anything resembling market value, hold an auction, and let the buyers figure out what the property was worth.

So what’s happening now?

With less activity among the buyers, we’re not seeing 4-5, or 8-10 offers on “offer night.”

And the owner of the $1,000,000 house, that’s listed at $799,900, is either getting 1-2 offers, the highest of which is $860,000, or getting zero offers, because buyers want to see if the house comes back onto the market the next day for a higher price, and if so, how much.

Face it – no seller of a house “worth” $1,000,000, listed at $799,900, is going to sell to the one person who shows up at the bargaining table, with a offer of $799,900.  Hate the game, hate the players, call it unfair and unethical – I won’t disagree.

But you wouldn’t sell if you were in that position; nobody would.

Now ask, “So what then, David, why are these people under-listing?  Why are they free to play these games?”

And I would answer, are these “games” any different than the ones sellers have been playing for the last 15 years?

And to the first question, why are they under-listing?

That’s the real conundrum.  And I think the reason is threefold:

1) Fear 2) Inability to change 3) Lack of experience

The sellers are afraid of leaving money on the table.  What if they listed their $1,000,000 home for (gasp!), $1,000,000, and somebody showed up the first day with an offer for the list price?  The seller would feel like he or she could have, would have, or should have got more.  With an “offer date,” they have that opportunity, even if it’s not working in May of 2017, they’re going to try it.

The sellers and the listing agents are both unwilling, and unable to adapt to a changing market, where listing at fair market value, instead of playing games, is more likely to get your house sold.

And the listing agents, who for years have had no idea how to price a house, but have simply been holding an auction with a “starting bid” of 20% under fair market value, still don’t know how to price houses, so they feel the “list-low, hold-back” strategy is the best way to go.

And all the while, the buyer pool is sitting back and trying to make sense of this.

So too are a host of buyer agents, myself included.

Now I mentioned off the top that properties are being re-listed “at a higher price” the day after offer night.

But what about the ones that are waiting?

Here are two stories that will add more fuel to the fire…

A particular house on the east side, that looked like it might compete with my listing a few weeks back, had offers on May 2nd.  And on May 3rd, the listing still said “Offers Reviewed on Tuesday, May 2nd, at 7:00pm.”

On May 4th, the listing read the same.

And on May 5th.

And on May 6th.

And buyers kept wondering, “Are they really listed for sale for $874,900?  Or are they going to re-list higher?”

Buyer-agents called the listing brokerage, and nobody could tell them what was what.

The listing agents spoke in generalities, and euphemisms.  “We’re open for business,” one of them told me.  “We’re evaluating all their options,” she added.  And then the classic fail-safe: blame the client.  “We’re going to do whatever our seller-clients feel is in their best interest.”

And on this went.

May 7th, May 8th, May 9th – the listing still read, “Offers Reviewed on Tuesday, May 2nd, at 7:00pm.”

And on May 11th, that listing was terminated.

But how many buyers wasted their time going to see the house, listed at $874,900, when all the while, the seller probably had no intention of accepting that price?

If you like that story, then let me double down.  And I should add, by “like,” I actually mean hate.

There was another east-side listing a couple of weeks ago, listed at $849,900, that passed its offer date, and didn’t sell, only this listing was updated and the “Offers Reviewed On….” part was removed.

I called this agent and asked point-blank, “Is the property available for sale?”  He said, “Yes.”

I asked him, “What’s going on with it?  I mean, a lot of agents are re-listing at higher prices, and I want to get a sense of where you stand.”

He said, “We like where we are, go have a look.”

And so we did, my clients and I, and we loved the house!

Who wouldn’t?  This house had to be worth $950,000 – $1,000,000, and dare I say in February, it would have received six offers and sold for over $1M.

So we made an offer, and by the time our offer was submitted, eight days had passed since the listing was updated to remove the verbiage about the “offer date.”

The agent, who was no slouch – he’s done 43 transactions in the past 12 months (I have a program that can look up any agent), albeit 42 of them outside the city of Toronto, didn’t get back to me regarding our offer for almost 24 hours.  When he did call me back, he complained that the offer went to his junkmail, and that I only gave him a 24-hour irrevocable (which is actually an eternity in Toronto).

I didn’t hear from him after that.

A day later, I called him, and he said, “I’ll meet the sellers tonight.  This noon-irrevocable garbage, what is this?  Like my clients don’t have jobs?  You should give people till midnight so an agent can meet his clients for dinner!”

Weird.  I guess he’s never heard of email.  Or the phone.  Or DocuSign.  Or the year 2017…

In any event, I didn’t hear back from this agent, which was utterly bizarre.

The next day, the listing was increased in price to $999,999.

And I never got a call back from that agent.

It was a strange way of doing business, and dealing with colleagues, but that part of the story is just for kicks.

The bigger problem here was that this property was listed for sale for $849,900, for eight days, when all the while, the sellers were going to increase the price.

And even though I brought the listing agent an offer, knowing full well, with paperwork-signed (probably in-person, at the Swiss Chalet in Bolton), that they would be re-listing for $150,000 more, the agent never though it prudent to tell me this.

Just absolutely, positively, bizarre.

Every day out there, we’re seeing houses re-listed for more than the price at which they were previously under-listed, which in itself, makes little sense.

The problem as I see it, is that sellers don’t want to show their hand.  They don’t want to show the buyer pool what they’re expecting, and what price they want, for fear that there’s a buyer out there that would have paid more.

And the bigger problem, in my personal opinion, is that at some point, “false advertising” guidelines simply must apply.

When sellers list their $1,000,000 property for $799,900, with an “offer date,” they’re effectively saying, “This is an auction, $799,900 is my starting bid price, see you on offer night.”  Most of us have come to accept this.

But when sellers are leaving the listings up on MLS at $799,900, for days or even weeks, allowing buyer agents and buyers alike to view the home under false pretenses, with a plan to increase the asking price, then how is this not false advertising?

The listing-and-re-listing is out of hand.

And while I accept a “transition period” is necessary for 4-6 weeks, if this continues through May and into June, then the whole thing is a farce.

I’m going to spend some time on the long weekend going over listings in April/May, and trying to get some actual quantifiable data about re-listing.

Yes, that is how I’m going to spend my long weekend.

I’d use a smiley-emoji here, but those don’t work on my blog for some reason.

In any event, have a safe and happy long weekend, and I’ll be back with a new post on Tuesday!

The post Real Estate’s New Problem: Listing & Re-Listing appeared first on Toronto Real Estate Property Sales & Investments | Toronto Realty Blog by David Fleming.

Originated from http://ift.tt/2q3jyVn

[rebeccahpedersen]

Real Estate’s New Problem: Listing & Re-Listing

TorontoRealtyBlog

Just when you thought that the real estate market was at the maximum level of frustration, it’s as though Realtors found a new and improved way of pissing people off.

While the rampant under-listing of properties that led to multiple offers on every single listing was frustrating to no end for buyers, the new trend that’s resulted from changing market conditions may be bothering buyers even more.

I’ve never seen so many properties being re-listed at higher prices in my career.

Let me explain what’s going on, and how we got here…

We’re in a really, really weird market right now.

The market has changed, but that doesn’t automatically mean that prices are down.

To be honest, I do think prices are down – a smidge.

There are still houses selling for 140% of list price every night.  But not as often as was the case in February and March.

April was a “transition month,” and I’ll blog about this next week in a separate, dedicated post.

But in any transition, people can be slow to adapt.  And right now, it’s the sellers, and the listing agents that are not just slow to adapt – they’re downright refusing to.

Listings are up in May, and whether the number of buyers is the same, or whether there are more buyers on the sidelines taking the “wait-and-see” approach, remains to be seen.

But I also think that with the hottest January/February/March on record, a lot of the would-be spring buyers, have already bought.

The result?

More listings, fewer buyers.

And this does not lend itself to the tradition of listing low, getting multiple offers, and selling for insane list-to-sale ratios.

Over the last decade, it’s been easy to take a $1,000,000 house, list it for $799,900, get six offers, and sell for $1,000,000 or more.

But this “transition” in April has led to a significant change, not in terms of price, but rather in terms of process in the month of May.

I started to notice this in the last week of April, when a few houses that would have, could have, should have sold, did not.

These houses were subsequently re-listed at higher prices, the day after the scheduled “offer night.”

I had a listing on the east side around that time, and we got lucky – with a bully offer for $200,000 over our list price.  But all the houses around us?  It was Re-List City, and we were living in the heart of it.

In fact, as we approach the end of May, what I’m seeing is absolutely shocking.

I would estimate that 1/3 of all houses, priced between $700 – $1.2M, are being re-listed at higher prices, after their failed “offer nights.”

And it’s making the market even more manic than it was when we had under-listing, offer nights, and multiple offers.

Who would have thought – as bad as things were, it could actually get worse.

So what’s going on out there?

I’ll give you an example.

A seller has a house that is worth around $1,000,000.  In January, February, or March, the seller would list low – perhaps $799,900, hold back offers, and schedule an offer night.

On offer night, because there was so little on the market, and so many more buyers, that listing would pull, say, 8-10 offers.

And the house would sell for $1,050,000, which is more than the seller thought it was “worth.”

This is the way things have been for the better part of my 13 years in the business, and up until now, the market has been so efficient, that a seller and a listing agent don’t need to figure out what the property is worth, and risk under-pricing and leaving money on the table.  Instead, they’d list well, well below anything resembling market value, hold an auction, and let the buyers figure out what the property was worth.

So what’s happening now?

With less activity among the buyers, we’re not seeing 4-5, or 8-10 offers on “offer night.”

And the owner of the $1,000,000 house, that’s listed at $799,900, is either getting 1-2 offers, the highest of which is $860,000, or getting zero offers, because buyers want to see if the house comes back onto the market the next day for a higher price, and if so, how much.

Face it – no seller of a house “worth” $1,000,000, listed at $799,900, is going to sell to the one person who shows up at the bargaining table, with a offer of $799,900.  Hate the game, hate the players, call it unfair and unethical – I won’t disagree.

But you wouldn’t sell if you were in that position; nobody would.

Now ask, “So what then, David, why are these people under-listing?  Why are they free to play these games?”

And I would answer, are these “games” any different than the ones sellers have been playing for the last 15 years?

And to the first question, why are they under-listing?

That’s the real conundrum.  And I think the reason is threefold:

1) Fear 2) Inability to change 3) Lack of experience

The sellers are afraid of leaving money on the table.  What if they listed their $1,000,000 home for (gasp!), $1,000,000, and somebody showed up the first day with an offer for the list price?  The seller would feel like he or she could have, would have, or should have got more.  With an “offer date,” they have that opportunity, even if it’s not working in May of 2017, they’re going to try it.

The sellers and the listing agents are both unwilling, and unable to adapt to a changing market, where listing at fair market value, instead of playing games, is more likely to get your house sold.

And the listing agents, who for years have had no idea how to price a house, but have simply been holding an auction with a “starting bid” of 20% under fair market value, still don’t know how to price houses, so they feel the “list-low, hold-back” strategy is the best way to go.

And all the while, the buyer pool is sitting back and trying to make sense of this.

So too are a host of buyer agents, myself included.

Now I mentioned off the top that properties are being re-listed “at a higher price” the day after offer night.

But what about the ones that are waiting?

Here are two stories that will add more fuel to the fire…

A particular house on the east side, that looked like it might compete with my listing a few weeks back, had offers on May 2nd.  And on May 3rd, the listing still said “Offers Reviewed on Tuesday, May 2nd, at 7:00pm.”

On May 4th, the listing read the same.

And on May 5th.

And on May 6th.

And buyers kept wondering, “Are they really listed for sale for $874,900?  Or are they going to re-list higher?”

Buyer-agents called the listing brokerage, and nobody could tell them what was what.

The listing agents spoke in generalities, and euphemisms.  “We’re open for business,” one of them told me.  “We’re evaluating all their options,” she added.  And then the classic fail-safe: blame the client.  “We’re going to do whatever our seller-clients feel is in their best interest.”

And on this went.

May 7th, May 8th, May 9th – the listing still read, “Offers Reviewed on Tuesday, May 2nd, at 7:00pm.”

And on May 11th, that listing was terminated.

But how many buyers wasted their time going to see the house, listed at $874,900, when all the while, the seller probably had no intention of accepting that price?

If you like that story, then let me double down.  And I should add, by “like,” I actually mean hate.

There was another east-side listing a couple of weeks ago, listed at $849,900, that passed its offer date, and didn’t sell, only this listing was updated and the “Offers Reviewed On….” part was removed.

I called this agent and asked point-blank, “Is the property available for sale?”  He said, “Yes.”

I asked him, “What’s going on with it?  I mean, a lot of agents are re-listing at higher prices, and I want to get a sense of where you stand.”

He said, “We like where we are, go have a look.”

And so we did, my clients and I, and we loved the house!

Who wouldn’t?  This house had to be worth $950,000 – $1,000,000, and dare I say in February, it would have received six offers and sold for over $1M.

So we made an offer, and by the time our offer was submitted, eight days had passed since the listing was updated to remove the verbiage about the “offer date.”

The agent, who was no slouch – he’s done 43 transactions in the past 12 months (I have a program that can look up any agent), albeit 42 of them outside the city of Toronto, didn’t get back to me regarding our offer for almost 24 hours.  When he did call me back, he complained that the offer went to his junkmail, and that I only gave him a 24-hour irrevocable (which is actually an eternity in Toronto).

I didn’t hear from him after that.

A day later, I called him, and he said, “I’ll meet the sellers tonight.  This noon-irrevocable garbage, what is this?  Like my clients don’t have jobs?  You should give people till midnight so an agent can meet his clients for dinner!”

Weird.  I guess he’s never heard of email.  Or the phone.  Or DocuSign.  Or the year 2017…

In any event, I didn’t hear back from this agent, which was utterly bizarre.

The next day, the listing was increased in price to $999,999.

And I never got a call back from that agent.

It was a strange way of doing business, and dealing with colleagues, but that part of the story is just for kicks.

The bigger problem here was that this property was listed for sale for $849,900, for eight days, when all the while, the sellers were going to increase the price.

And even though I brought the listing agent an offer, knowing full well, with paperwork-signed (probably in-person, at the Swiss Chalet in Bolton), that they would be re-listing for $150,000 more, the agent never though it prudent to tell me this.

Just absolutely, positively, bizarre.

Every day out there, we’re seeing houses re-listed for more than the price at which they were previously under-listed, which in itself, makes little sense.

The problem as I see it, is that sellers don’t want to show their hand.  They don’t want to show the buyer pool what they’re expecting, and what price they want, for fear that there’s a buyer out there that would have paid more.

And the bigger problem, in my personal opinion, is that at some point, “false advertising” guidelines simply must apply.

When sellers list their $1,000,000 property for $799,900, with an “offer date,” they’re effectively saying, “This is an auction, $799,900 is my starting bid price, see you on offer night.”  Most of us have come to accept this.

But when sellers are leaving the listings up on MLS at $799,900, for days or even weeks, allowing buyer agents and buyers alike to view the home under false pretenses, with a plan to increase the asking price, then how is this not false advertising?

The listing-and-re-listing is out of hand.

And while I accept a “transition period” is necessary for 4-6 weeks, if this continues through May and into June, then the whole thing is a farce.

I’m going to spend some time on the long weekend going over listings in April/May, and trying to get some actual quantifiable data about re-listing.

Yes, that is how I’m going to spend my long weekend.

I’d use a smiley-emoji here, but those don’t work on my blog for some reason.

In any event, have a safe and happy long weekend, and I’ll be back with a new post on Tuesday!

The post Real Estate’s New Problem: Listing & Re-Listing appeared first on Toronto Real Estate Property Sales & Investments | Toronto Realty Blog by David Fleming.

Originated from http://ift.tt/2q3jyVn

[rebeccahpedersen]

A Job Worth Doing, Is Worth Doing Well

TorontoRealtyBlog

The stakes are high in this real estate market, and I would vehemently argue that they’ve never been higher.

What I mean by that is there has never been more fluctuations between sale prices of similar properties, and there have never been more buyers paying “crazy” prices for houses and condos.

I’m not going to turn this post into an advertisement for “why to hire an experienced, full-service agent,” but I am going to tell you about two listings I had late last year where we took our time, did things right, and smashed records in the process…

“Most agents.”

I use that term a lot.

It’s not intentional; it’s not that I’m trying to differentiate myself from the masses each and every time I explain what “most agents” would do, but rather I have always felt (as you can tell from this blog) that honesty is the best policy.  And so I like to detail how “most agents” would handle a given situation.

“Most agents,” or “most people” in life, do things the “usual” way, and they might expect the “usual” results.  But in real estate, where the asset has no fixed value, and can sell for more, or less, than fair market value, there’s always an opportunity to break free from the norm and the pack that strives for mediocrity, and do something extraordinary.

When I get called in for an evaluation, or a “listing presentation” as it’s called in the business, I don’t bring any paperwork with me.

I’m honest with the sellers, and I tell them that I’m interviewing them, as much as they’re interviewing me.

Some people don’t like this, and that’s fine.  A seller has earned his or her right to a massive power-trip and ego-boost by calling twelve real estate agents in for an interview, but I’m looking for somebody I can work well with; I’m not looking to “beat” other agents in a series of “listing presentations.”

Those “listing presentations,” in my world, are simply chats.

I tell the sellers that I don’t bring paperwork with me the first time I meet them because it’s probably not necessary.  We’re not going to sign anything, because firstly, we need to decide if there’s a mutually beneficial relationship to be had, and secondly, because if we do things my way, we’re a ways away from listing.

“Most agents,” I explain, “Want to get your property on the market tomorrow, but that’s not the way to sell real estate in this market.”

And it’s true.  Most agents will look to sign that listing agreement at the earliest opportunity, and would do so in the front hall as they take their shoes off, if they could.

Last fall, I received a phone call from a seller who was looking to put his loft on the market.

He and his wife had purchased a new home, and they wanted to know what I could do for them, and how I could list, market, and sell their condo.

I knew the building very well, and I researched their unit as much as I could.  But the irony of these “listing presentations” and evaluations is that you don’t really know what a unit is worth, or how you would sell and market it, until you’ve spent some time inside it.

The building was A+ all the way, and the unit had the potential to be A+, but it was not.

And I told them this.

The average price per square foot in the building based on the most recent sales would put the value of their unit around $950,000.

But their unit was, as I also told them, in below average shape.

In its current condition, I explained, the unit was “worth” about $895,000.

This was certainly not what they wanted to hear, but they listened, and I could tell that they weren’t tuning me out based on hearing something unpleasant or unexpected.

Previous sales were clustered in the mid-$900’s, but a unit identical in layout to theirs had just sold for a whopping $1,030,000.  The first and only unit of this size to break $1 Million, and this was because it was gorgeous, and “fully renovated.”

I put “fully renovated” in quotations, because I hated the renovations.  Just because somebody spends $100,000, doesn’t mean they added $100,000 in value.  But somebody jumped on this place, and they set a record in the process.

This model unit was an open concept loft, with 20-foot ceilings throughout.  Not those stupid lofts that advertise 20-feet ceilings like this:

I mean this unit had real, true, 20-foot ceilings, from the kitchen wall right to the balcony door.

The unit has so much potential!

But the unit had sub-par, original-builder-grade finishes, which the sellers, after an hour conversation and a couple of beers (don’t worry – I drank water) eventually admitted.

The unit was a loft, and should have had “loft-like” features, but some of the features were, as the sellers put it, “1990’s sub-division quality”

Instead of a sleek glass-and-steel railing, there were light-brown wooden spindles, which didn’t make any sense in this unit.

Rather than having a beautiful, sliding loft door to the den, which most people used as a second bedroom on account of its size, there was simply, nothing.

The kitchen had no backsplash – just drywall in between the counters and the cabinets!

The bathrooms were outdated.

And after sitting with the sellers for an hour, and just being really honest, and with neither of us having any sort of agenda, we all agreed.

So then what?

Did we list the condo for $895,000?

No.  We didn’t.

We plotted a course of action, and immediately started a five-week process of renovating and preparing for sale.

“Most agents,” as I told them, “Would just get your condo on the market, and hope for the best.  Most agents wouldn’t go down this road with you.”

Again, I’m not writing this to toot my own horn here.  You know that’s not my style.

I’m writing this to make two points:

1) You have a very high chance at getting bad advice 2) If you’re willing to do some work, you can get an incredible, tax-free return on your investment.

From that initial meeting, it was five weeks until we were on the market, and we did a ton of work on the condo.

We cleared out about 60% of everything they own, to make the condo look and feel larger, and cleaner.

We installed a very cool sliding loft door in the den.

We enclosed the den where it met the staircase (for some odd reason it was open) with a frosted glass panel.

We replaced all the wooden-spindle railings with glass and steel.

We refinished the staircase leading up to the second level.

We installed a new kitchen backsplash.

We installed a new kitchen sink.

We installed new kitchen counters, and moved the “island” back to its rightful place in the kitchen, which separated the kitchen from the dining area, as opposed to having that “island” facing the wall.

We painted about half of the condo.

We put a new vanity in the master bathroom, re-grouted the shower, and installed a glass shower door where there was a curtain before.  I believe we even added pot lights in there as well.

We installed custom closet organizers in the master bedroom, and fixed the doors and the tracks.

We had property management refinish the front door in the hallway, which had really shown some wear.  And while they were there, we got them to refinish the back of the door, which was inside the unit, and split the cost too.

We refreshed the main bathroom with new grout and caulking, new hardware, new mirrors, and another new glass shower door to replace the plastic curtain.

And finally, we staged the condo too, while using some of their existing furniture, but we moved out some furniture items and moved others in, to maximize the space, and give it the “style” we felt would work with the loft.

We brought in the best photographer (there is only one that I use, and he’s so good that I will LITERALLY move a listing back a day or a week if I can’t get him), put together all our marketing material, and lined up the listing date with the completion of all marketing initiatives, including having the building’s Status Certificate in hand (95% of agents order this after a deal is done, meaning you’re conditional for two weeks).

We left absolutely no stone unturned.

It took five weeks from that initial meeting until we went to market, but we completely transformed this condo, and did so far, far under budget.  My clients were amazing at finding deals, and the money they spent was probably 40% less than the average person would have dropped on the same project.

Our target was $1,000,000 from the beginning, but once we saw how the condo looked, we figured it might be worth more.

But I chimed in and said that nobody looking at this kind of unit really knows whether it’s worth $1,010,000 or $1,090,000; they simply see the photos on MLS, and want to come have a look.  In addition, listing at $1,015,000 would make no sense.  Why list just over $1M?

So we listed at $1,079,900, even though the price made absolutely no sense.

The same unit, with better finishes, sold for $1,030,000 a short time ago.

But from the very beginning, I told them that our target market was a young playboy, or playgirl, with money.  I know, I know – you hate hearing this.  You work hard for a living, and so do I.  But some millennials have their parents’ money, and those kids are out in full force buying condos downtown.

We were on the market for, I believe, four or five days, before we got an offer.

We sold for $1,050,000 – a new record in the building.

And the buyer, as you might have guessed, was a 20-something.

My clients’ hard work paid off big-time.

They probably got a 4-to-1 return on the money they spent, which is to say that had they not done the renovation, their unit wouldn’t have shown well, wouldn’t have sold quickly (probably not at all, and we’d come back on the market in 2017), and it would have sold for around $900,000.

There was a “right” way to do this, and we did it, without hesitation, from the start.

I love working with clients like this.  They trusted me, never doubted me, and I got to show them the payoff in the end.  They were fantastic to work with, great people, and I can say that the project at every given moment was “fun” for me.

I love a challenge, and I love a job well done.

I also feel that any job worth doing, is worth doing well.

This is the way you sell real estate in 2017.

People who chime in with “a house sells itself in this market” are missing the bigger picture.

No property is ready to go to market “tomorrow,” and I’ve yet to see a property that you can say is “perfect.”

So on Friday, let me tell you a second story about the “right” way to sell real estate, and how that job worth doing can be well-done, only this doesn’t involve a renovation, but rather how to deal with “life” as it interferes with buying and selling real estate…

  The post A Job Worth Doing, Is Worth Doing Well appeared first on Toronto Real Estate Property Sales & Investments | Toronto Realty Blog by David Fleming.

Originated from http://ift.tt/2jZe4Io

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A Job Worth Doing, Is Worth Doing Well

TorontoRealtyBlog

The stakes are high in this real estate market, and I would vehemently argue that they’ve never been higher.

What I mean by that is there has never been more fluctuations between sale prices of similar properties, and there have never been more buyers paying “crazy” prices for houses and condos.

I’m not going to turn this post into an advertisement for “why to hire an experienced, full-service agent,” but I am going to tell you about two listings I had late last year where we took our time, did things right, and smashed records in the process…

“Most agents.”

I use that term a lot.

It’s not intentional; it’s not that I’m trying to differentiate myself from the masses each and every time I explain what “most agents” would do, but rather I have always felt (as you can tell from this blog) that honesty is the best policy.  And so I like to detail how “most agents” would handle a given situation.

“Most agents,” or “most people” in life, do things the “usual” way, and they might expect the “usual” results.  But in real estate, where the asset has no fixed value, and can sell for more, or less, than fair market value, there’s always an opportunity to break free from the norm and the pack that strives for mediocrity, and do something extraordinary.

When I get called in for an evaluation, or a “listing presentation” as it’s called in the business, I don’t bring any paperwork with me.

I’m honest with the sellers, and I tell them that I’m interviewing them, as much as they’re interviewing me.

Some people don’t like this, and that’s fine.  A seller has earned his or her right to a massive power-trip and ego-boost by calling twelve real estate agents in for an interview, but I’m looking for somebody I can work well with; I’m not looking to “beat” other agents in a series of “listing presentations.”

Those “listing presentations,” in my world, are simply chats.

I tell the sellers that I don’t bring paperwork with me the first time I meet them because it’s probably not necessary.  We’re not going to sign anything, because firstly, we need to decide if there’s a mutually beneficial relationship to be had, and secondly, because if we do things my way, we’re a ways away from listing.

“Most agents,” I explain, “Want to get your property on the market tomorrow, but that’s not the way to sell real estate in this market.”

And it’s true.  Most agents will look to sign that listing agreement at the earliest opportunity, and would do so in the front hall as they take their shoes off, if they could.

Last fall, I received a phone call from a seller who was looking to put his loft on the market.

He and his wife had purchased a new home, and they wanted to know what I could do for them, and how I could list, market, and sell their condo.

I knew the building very well, and I researched their unit as much as I could.  But the irony of these “listing presentations” and evaluations is that you don’t really know what a unit is worth, or how you would sell and market it, until you’ve spent some time inside it.

The building was A+ all the way, and the unit had the potential to be A+, but it was not.

And I told them this.

The average price per square foot in the building based on the most recent sales would put the value of their unit around $950,000.

But their unit was, as I also told them, in below average shape.

In its current condition, I explained, the unit was “worth” about $895,000.

This was certainly not what they wanted to hear, but they listened, and I could tell that they weren’t tuning me out based on hearing something unpleasant or unexpected.

Previous sales were clustered in the mid-$900’s, but a unit identical in layout to theirs had just sold for a whopping $1,030,000.  The first and only unit of this size to break $1 Million, and this was because it was gorgeous, and “fully renovated.”

I put “fully renovated” in quotations, because I hated the renovations.  Just because somebody spends $100,000, doesn’t mean they added $100,000 in value.  But somebody jumped on this place, and they set a record in the process.

This model unit was an open concept loft, with 20-foot ceilings throughout.  Not those stupid lofts that advertise 20-feet ceilings like this:

I mean this unit had real, true, 20-foot ceilings, from the kitchen wall right to the balcony door.

The unit has so much potential!

But the unit had sub-par, original-builder-grade finishes, which the sellers, after an hour conversation and a couple of beers (don’t worry – I drank water) eventually admitted.

The unit was a loft, and should have had “loft-like” features, but some of the features were, as the sellers put it, “1990’s sub-division quality”

Instead of a sleek glass-and-steel railing, there were light-brown wooden spindles, which didn’t make any sense in this unit.

Rather than having a beautiful, sliding loft door to the den, which most people used as a second bedroom on account of its size, there was simply, nothing.

The kitchen had no backsplash – just drywall in between the counters and the cabinets!

The bathrooms were outdated.

And after sitting with the sellers for an hour, and just being really honest, and with neither of us having any sort of agenda, we all agreed.

So then what?

Did we list the condo for $895,000?

No.  We didn’t.

We plotted a course of action, and immediately started a five-week process of renovating and preparing for sale.

“Most agents,” as I told them, “Would just get your condo on the market, and hope for the best.  Most agents wouldn’t go down this road with you.”

Again, I’m not writing this to toot my own horn here.  You know that’s not my style.

I’m writing this to make two points:

1) You have a very high chance at getting bad advice 2) If you’re willing to do some work, you can get an incredible, tax-free return on your investment.

From that initial meeting, it was five weeks until we were on the market, and we did a ton of work on the condo.

We cleared out about 60% of everything they own, to make the condo look and feel larger, and cleaner.

We installed a very cool sliding loft door in the den.

We enclosed the den where it met the staircase (for some odd reason it was open) with a frosted glass panel.

We replaced all the wooden-spindle railings with glass and steel.

We refinished the staircase leading up to the second level.

We installed a new kitchen backsplash.

We installed a new kitchen sink.

We installed new kitchen counters, and moved the “island” back to its rightful place in the kitchen, which separated the kitchen from the dining area, as opposed to having that “island” facing the wall.

We painted about half of the condo.

We put a new vanity in the master bathroom, re-grouted the shower, and installed a glass shower door where there was a curtain before.  I believe we even added pot lights in there as well.

We installed custom closet organizers in the master bedroom, and fixed the doors and the tracks.

We had property management refinish the front door in the hallway, which had really shown some wear.  And while they were there, we got them to refinish the back of the door, which was inside the unit, and split the cost too.

We refreshed the main bathroom with new grout and caulking, new hardware, new mirrors, and another new glass shower door to replace the plastic curtain.

And finally, we staged the condo too, while using some of their existing furniture, but we moved out some furniture items and moved others in, to maximize the space, and give it the “style” we felt would work with the loft.

We brought in the best photographer (there is only one that I use, and he’s so good that I will LITERALLY move a listing back a day or a week if I can’t get him), put together all our marketing material, and lined up the listing date with the completion of all marketing initiatives, including having the building’s Status Certificate in hand (95% of agents order this after a deal is done, meaning you’re conditional for two weeks).

We left absolutely no stone unturned.

It took five weeks from that initial meeting until we went to market, but we completely transformed this condo, and did so far, far under budget.  My clients were amazing at finding deals, and the money they spent was probably 40% less than the average person would have dropped on the same project.

Our target was $1,000,000 from the beginning, but once we saw how the condo looked, we figured it might be worth more.

But I chimed in and said that nobody looking at this kind of unit really knows whether it’s worth $1,010,000 or $1,090,000; they simply see the photos on MLS, and want to come have a look.  In addition, listing at $1,015,000 would make no sense.  Why list just over $1M?

So we listed at $1,079,900, even though the price made absolutely no sense.

The same unit, with better finishes, sold for $1,030,000 a short time ago.

But from the very beginning, I told them that our target market was a young playboy, or playgirl, with money.  I know, I know – you hate hearing this.  You work hard for a living, and so do I.  But some millennials have their parents’ money, and those kids are out in full force buying condos downtown.

We were on the market for, I believe, four or five days, before we got an offer.

We sold for $1,050,000 – a new record in the building.

And the buyer, as you might have guessed, was a 20-something.

My clients’ hard work paid off big-time.

They probably got a 4-to-1 return on the money they spent, which is to say that had they not done the renovation, their unit wouldn’t have shown well, wouldn’t have sold quickly (probably not at all, and we’d come back on the market in 2017), and it would have sold for around $900,000.

There was a “right” way to do this, and we did it, without hesitation, from the start.

I love working with clients like this.  They trusted me, never doubted me, and I got to show them the payoff in the end.  They were fantastic to work with, great people, and I can say that the project at every given moment was “fun” for me.

I love a challenge, and I love a job well done.

I also feel that any job worth doing, is worth doing well.

This is the way you sell real estate in 2017.

People who chime in with “a house sells itself in this market” are missing the bigger picture.

No property is ready to go to market “tomorrow,” and I’ve yet to see a property that you can say is “perfect.”

So on Friday, let me tell you a second story about the “right” way to sell real estate, and how that job worth doing can be well-done, only this doesn’t involve a renovation, but rather how to deal with “life” as it interferes with buying and selling real estate…

  The post A Job Worth Doing, Is Worth Doing Well appeared first on Toronto Real Estate Property Sales & Investments | Toronto Realty Blog by David Fleming.

Originated from http://ift.tt/2jZe4Io