Thursday, May 15, 2008

The change is happening!

At the RE/MAX orientation, I met some Realtors from Vancouver and discussed their market. The change is happening! They are now seeing lots of offers with "subject to the sale of the buyer's home". This was unheard of last year. It is now becoming a "buyers market".

I was just watching the global morning news, Chris Carter was on. He was discussing the same thing. He mentioned that it was only 6 weeks ago that it was a "seller's market". Amazing how fast things can change!

What does this mean for the Princeton, BC market? Usually, we follow the Vancouver market. So, the tide could be changing here too. Although we are a little different than the Vancouver market, as people buy here for recreational homes as well. However, we are finding that if you price correctly, your home will sell quickly. So right now, be sure your Realtor does a CMA (comparative market analysis), see what other homes similar to yours are selling for. Don't compare the listing price when you are the seller, look at what the homes have SOLD for. Don't over price thinking that you can negotiate. If you want your property sold, talk to your Realtor and don't overprice!