Are you thinking about selling your home but wondering if the right time is NOW, after all the media bombardment about collapsing prices and unsold homes sitting on the market? You’ve come to the right place to have your questions answered. I’ve used my real estate experience, plus that of my office, to put together a guide – to guide you through the steps of selling your property, and give you the tools you need to make this important decision.
First of all, you need to know that local market conditions will definitely have an impact on the amount you can get for your home – and how quickly you can sell it. You may put a price on your home, but the market is what really prices it.
Right now experts agree we’re in a Buyer’s market – supposedly meaning that there are more homes on the market than buyers and you’ll be facing lots of competition from other sellers. Prices have dropped overall, and houses take longer to sell. So it seems obvious that if you can hold off on selling, you should wait this market out, right?
Not necessarily! Even if you don’t have an urgent reason to move, like a job change or a growing family, there are good reasons to sell now. Believe it or not, there is still a big demand out there for well-priced homes. In desirable neighbourhoods, I have buyers who can’t find a home, because the homeowners are too scared by the bad press to put their homes up for sale. I am on the front lines of Toronto real estate every day, and have found there’s actually a shortage of renovated homes in good locations and those are selling quickly, at or above asking price!
And despite all the doom and gloom, the truth is that the drops in price and sales aren’t that drastic. In March 2009, there were only 8% fewer sales than in March 2008 – which was a banner year for real estate sales, and prices have only declined by 3%. That shouldn’t discourage anyone from putting their home on the market. What’s really happened is that we’ve gone from the total seller’s market of the last few years, where buyers frantically competed for homes, to a more balanced market. Sellers wisely accept reasonable offers and their properly priced homes sell within an acceptable time period. Prices are more stable without as many wild bidding wars.
Under any circumstances, selling a home can be a stressful process, emotionally, financially and physically. That’s why I am here to guide you through it with wisdom and experience, saving you incalculable aggravation and $$. I know your neighbourhood, what buyers want in a home, how to negotiate the best price, and how to close the deal for you, so this is going to be easy. And it all starts with you.