Those attempting to interpret the state of the North and West Van markets could be excused from deducing that, on the surface, there appears to be a move toward a higher degree of balance but I believe that would be erroneous, or at least, premature. Slightly lower or “leveling” buying (actual sales recorded) does not necessarily mean lower demand; rather, slower decision making. Supply, while improving somewhat (N/Van particularly) is still far too low to indicate a “balancing” market.
Sellers’ Tip: Irrespective of your residing in a sub-area with a surplus of unsold inventory or one with lower than usual supply, the trick to a successful sale in 2007 remains the same. Price your home right for the market. Correctly prepare it for sale and make certain that the listing receives superior market exposure. Overpricing will unlikely earn you brownie points in the current market. Buyers have been swamped by negative press on the housing market; they are cautious and won't pay a penny over what they perceive is market value. Sellers often wonder whether it's worth it to spend money fixing a home up for sale. Not only is it worth it, but it can be critical to selling at the highest price possible, particularly in sub-areas where the inventory is high. If your home has a dated décor it makes sense to invest in replacing items such as outmoded light fixtures, floor coverings and paint colours. Correct “deferred maintenance”, or discount your price accordingly. Imagine that you're the buyer and have a choice between a home that you can move into without lifting a finger and one that needs a complete overhaul. Most buyers won't even consider the house that needs a facelift and if they do, only at a significant discount. Buyers’ Tip: It is quite natural, especially in the early going of your search, to want as much information of what is for sale as possible. Many buyers want to formulate their wish list on their own and then decide on an experienced professional to help them take it from there. I am happy to say that I have subscribed to a mechanism/facility to assist with this. On my website, www.OnTopOfTheMarket.ca there is a button (front page top toolbar) entitled MLS (Multiple Listing System) which enables the user to access the entire selection of listings with an extremely easy-to-use search engine. Just try it and see. Those results which are provided with your search can be short listed and, with the provision of the MLS # (e.g. V635258) via the “contact us” function, you will receive the full information usually only available from a Realtor (by return e-mail!). Try it, it is available at no cost to you! The North Shore demand is healthy with inventory mixed and not nearly enough for a balanced market
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