A frustrating market for buyers, exhilarating for sellers!
28 May 2021
I begin this blog post with a truth that cannot be disputed: the real estate market is on “fire”, to the annoyance of buyers who are struggling to find a home as the supply of properties is low. This situation causes overbids and crude potential buyers who must offer more than the asking price ... without being certain that their promise to purchase is retained.
I sympathize with them since I currently accompany clients in their search for a property. They come up against situations where the house has just been put on the market and it is already no longer available a few days later. Frustrating, isn't it?
I will therefore address myself to those who are currently thinking about it or who have considered in the past to put their property up for sale but who have not taken action for one reason or another ... This time, think carefully, because you could bring your retirement a few years earlier with the $$$ that “motivated” buyers could offer for your home!
Really true: I recently marketed a beautiful house with a municipal valuation of just over $ 400,000. After preparing a benchmarking to estimate the property's market value and subsequently discussing with the sellers, it was agreed to set the asking price at $ 555,000. During the first four days of marketing, 51 visits were made (there is no mistake here) thanks to the strength of the network of real estate brokers. Of this number, 14 "suitors" submitted a promise to purchase greater than the asking price ... In the end, the sellers obtained more than $ 100,000 than the listed price!
The story below is not a hoax, it's a 2021 reality.
That being said, I suggest you explore the possibility of putting your property up for sale now. In the context of COVID-19, a phone conversation with me is the best way to initiate an analysis and determine if you have the winning conditions to "step into the dance". Without obligation on your part.
