October 31, 2013
New property listed in Williams Lake - City, Williams Lake (Zone 27)
I have listed a new property at 103 COUNTRY CLUB BLVD in Williams Lake.
Luxury Living in this new home in Golf Course subdivision on 1/2 acre lot near end of Blvd and siding Park area .Step into the grand foyer with large staircase and heated tile and bamboo hardwood floors. Custom designed kitchen with high end Bosch SS appliances and entertainment area is perfect for gatherings. Beautiful living room with inwall fireplace and grand dining area. Main floor grand master bedroom with walk in, tiled shower, jacuzzi tub and its own deck. Home designed for a suite in lower level if desired with 2 bedrooms and separate entrance laundry and media room. Super high efficiency furnace with central air and large garage for the big toys and plenty of space for parking the RV. Come call this your beautiful home .
October 26, 2013
The Best Asking Price for Your Home
Setting a realistic price for your home that reflects current market values will help sell your home quickly and for top dollar. When you price your home properly, you increase the chances that the offer you receive will definitely come within 95% or more of your asking price, and that there will possibly be competing offers, which could net you even more in the long run.
Your property has the best chance of selling within its first 7 weeks on the market. Studies indicate that the longer a property stays on the market, the less it will ultimately sell for. A property priced 10 % more than its market value is significantly less likely to sell within this window than a property priced close to its actual market value. Sellers will usually over-price their homes by this margin if, either, they firmly believe the home is worth more than what the market indicates, or if they want to leave room for negotiation. Either way, if you choose to over-price your home by this amount, you run the risk of increasing the amount of time your home spends on the market, and decreasing the amount of money you’ll ultimately receive.
At the other end of the selling spectrum are houses that are priced below a fair market value. Under-pricing often occurs when the owner is interested in a quick sell. You can bargain on these homes attracting multiple offers and ultimately selling quickly at or at times even above the asking price.
The knowledge and skills of an experienced Realtor will be invaluable when determining an appropriate asking price. It is the job of your Realtor to know the current market and market trends inside and out, to be closely connected to the real estate market at large, and to be aware of other properties currently for sale in your particular area. Based on this range of connections and knowledge, your Realtor should counsel you on how to price your home properly in order to attract the highest price possible, in the shortest period of time.
The market will always influence a property’s value, regardless of the state of a home, or its desirability. Here are the types of market conditions and how they may affect you:
1. Seller’s Market:
A Seller’s market is considered a “hot” market. This type of market is created when demand is greater than supply, the number of Buyers exceeds the number of homes on the market. As a result, these homes usually sell very quickly, and there are often multiple offers. Many homes often sell above the asking price.
2. Buyer’s Market:
A Buyer’s market is a slower market. This type of market occurs when supply is greater than demand, the number of homes exceeding the number of Buyers. Properties are more likely to stay on the market for a longer period of time. Fewer offers will come in, and with less frequency. Prices may even decline during this period. Buyers will have more selection and flexibility in terms of negotiating toward a lower price. Even if your initial offered price is too low, Sellers will be more likely to come back with a counter-offer.
3. Balanced Market:
In a balanced market, supply equals demand, the number of homes on the market roughly equal to the number of Buyers. When a market is balanced there aren’t any concrete rules guiding whether a Buyer should make an offer at the higher end of his/her range, or the lower end. Prices will be stable, and homes will sell within a reasonable period of time. Buyers will have a decent number of homes to choose from, so Sellers may encounter some competition for offers on their home, or none at all.
Remember, a Realtor is trained to provide clients with this information about the market, helping you make the most informed decision possible. The right Realtor will guide you through the ups and downs of the market and keep you up-to-date with the types of changes you might expect.
When setting a price, your house will be evaluated in the other main areas that affect market value:
The proximity of your home to amenities, such as schools, parks, public transportation, and stores will affect its status on the market. Also, the quality of neighbourhood planning, and future plans for development and zoning will influence a home’s current market value, as well as the ways in which this value might change.
The age, size, layout, style, and quality of construction of your house will all affect the property’s market value, as well as the size, shape, seclusion and landscaping of the yard.
3. Condition of the Home:
This includes the general condition of your home’s main systems, such as the furnace, central air, electrical system, etc., as well as the appearance and condition of the fixtures, the floor plan of the house, and its first appearances.
4. Comparable Properties:
A Realtor will generally prepare you a general market analysis of your neighbourhood and comparable properties, so you can determine a range of value for your property. A market analysis will provide you with a market overview and give you a glimpse at what other similar properties have been selling for in the area.
5. Market Conditions/ Economy:
The market value of your home is additionally affected by the number of homes currently on the market, the number of people looking to buy property, current mortgage rates, and the condition of the national and local economy.
When pricing your home, all those factors listed above should be looked at in order to get an accurate assessment of what your asking price should be. If you are ready to step into the market, give me a call and we can work together towards the right price and get your property sold for the best price possible in the shortest amount of time.
October 19, 2013
To Buy or Sell First?
If you are considering looking for a new house, and are a current home-owner, then chances are you’re wondering what your strategy should be: do you wait to find the perfect new home before you put your current home on the market, or do you sell first and then look around? There are several options to consider. Here is a guide that can help you consider what might be the best move for you.
There are several benefits to selling your current house before searching for your next home.
1. Once you have sold your house, you will know precisely how much money you have to work with.
2.With a concrete price range, you’ll be able to narrow the pool of houses before you begin looking, and negotiate accordingly. This will allow you to immediately make firm offers on houses that you are serious about purchasing.
3. You can be first in line with an unconditional offer (or at least not conditional to the sale of your home) you know you can afford, and this will grant even further negotiating leverage as Sellers tend to take unconditional offers more seriously. When they counter or turn down an offer that’s conditional on the sale of a home, they usually think the Buyer will come back with a better and more firm offer once they have sold their current home. However, if you make an offer not conditional to the sale of your current home, the Seller will usually give you more consideration, as they realize you’re probably looking at other properties and will move on if your offer is rejected.
4. If you have already sold you house, you probably do have a wider opportunity to look around, negotiate, and find the best deal and fit for you and your family.
The flip side of this scenario, however, is that if you don’t find the right property before the closing date of the house you’ve already sold, you may have to look for temporary housing until you do find what you’re looking for.
So, before you opt to sell first, you should determine whether you have alternate, temporary options, in case you have to move from your house before you’ve found a new one. How would you and your family deal with living in a transition home for an undetermined period of time?
Buying a new house without having sold your current home may occur if you are interested in a specific property and will only sell your current home if this property comes on the market. It may be a matter of timing—grabbing hold of the home before it’s too late. The same might be said of a property you haven’t had you eye on previously, but that catches your attention due to its uniqueness or unbelievable price. If buying first means you don’t miss out on the real estate opportunity of a lifetime, it may be the best move.
However, be careful. If you buy another property and aren’t able to sell your current home quickly enough, you could end up having to finance both homes and shoulder the extra debt until you sell. You can get a financial appraisal or market evaluation of a home prior to selling, but this doesn’t guarantee the price you’ll ultimately receive for the home after the negotiation process has run its course. Since your selling price will be an unknown, jumping into a purchase could be a gamble, particularly if your budget is tight.
Make sure you’re familiar with all aspects of the financial reality this scenario would create before you purchase another home. You may be faced with owning two homes at once. What type of financial stress would this bring to your life and how would you deal with it? Consider the fact that if your current house doesn’t sell quickly enough, you may be forced to sell it off at a reduced price in order align the closing dates of your two properties. What effect would this have on your financial situation?
Conditional Of Sale Offer:
An additional option involves making your offer to purchase conditional upon the sale of your current property within a specified period. Conditional of sale offers usually include a clause that allows for the Sellers to keep their property on the market and remain open to other offers while you try to sell your home. If the Sellers receive another attractive offer before you’ve sold your home, they may accept and ask you to either remove your condition and firm up your offer, or to back down from the offer. A conditional of sale offer forms a kind of middle ground, an area of compromise, for those who are hesitate to sell or buy first—but doesn’t hold the advantages of the other two options.
One of the drawbacks of the conditional of sale offer is that Sellers tend to take them less seriously. They definitely give stronger consideration to firm offers. This leaves you with less negotiating power. In fact, some Sellers will simply turn down or counter a conditional of sale offer. Other Sellers will believe the Buyer will come back with a more serious offer when their home has sold. So, you may end up having to increase your offer in order to have your conditional of sale offer accepted and keep your foot in the door of your desired house. Also by the Seller accepting a conditional of sale offer, this can at times stigmatize the property to other buyers because there is an accepted offer on the property. The new buyers tend to shy away from viewing it as the initial offer has a time clause that has to be dealt with before their offer would or could be accepted.
Even if your conditional of sale offer is accepted, there is no guarantee another Buyer won’t step in and overthrow your offer before you have sold your current home, which would put you back at the starting line. Also, consider the fact that you cannot withdraw your conditional of sale offer until the end of the period specified in the contract—which means that if a better deal comes along, you will have to wait to jump at it.
So buying or selling first is very specific to the seller. You must weigh all your options and see what you and your family are willing to take on. If you are tossing and turning trying to figure out which route is best for you, give me a call and we can look into what might be your best options.
October 17, 2013
New property listed in Esler/Dog Creek, Williams Lake (Zone 27)
I have listed a new property at 1012 HODGSON RD in Williams Lake.
Wow a very affordable home on a nice 2.5 acre lot in Esler Subdivision. Enjoy privacy yet just minutes from William Lake in this sought after location. There is beautiful terraced flower garden, fenced garden and greenhouse and a 150 sq ftwalk-in cold room. A large workshop with wood heat for the tinkering person and a 28 ft shelter for a 5th wheel or RV and numerous sheds for all the extra stuff. There is also a 200 sq ft 2nd level covered deck overlooking the rear yard and forest with glimpses of the city lights at night. With a little updating this home is perfect as a starter home for a young family that enjoy the outdoors. Property backs unto Crown Land and won't last long.
October 17, 2013
I have sold a property at 10 11 EAGLE CREST in Williams Lake
I have sold a property at 10 11 EAGLE CREST in Williams Lake.
Spacious 2 bedroom townhouse in very desirable complex in Westridge area. Level entry open floor plan with vaulted ceilings and gas fireplace in living room for those cozy winter evenings. Awesome open kitchen with large pantry and patio doors to deck makes it great for entertaining. There's the master-master suite with a large three piece ensuite and massive walk-in closet and it also has its own walk-out patio, wow! Large extra bedroom and a 4 piece washroom on the lower floor. This is easy living in a nice quiet neighbourhood and ideal for downsizing or retiring couples. You'll easily call this home.
October 13, 2013
I have sold a property at 2742 GROUNDHOG PL in Williams Lake
I have sold a property at 2742 GROUNDHOG PL in Williams Lake.
Beautiful lakefront Linwood home just 20 minutes from Williams Lake. Stunning and private 1.24 acres on Chimney Lake with 200 feet of lake frontage. Endless windows and patio doors throughout allow for natural light and breathtaking viewthroughout your home. Large open living room with wood fireplace and a custom kitchen & dining area that bring in the outdoors with its glassed walls and ceiling. Enjoy the lakeview and coffee from your private balcony off the master bedroom. Entertain family and friends with barbeques on the large front deck overlooking the lake. The 24x36 workshop / garage is a must see. With beautiful landscaping and gardens you'll soon be saying "our home".
October 13, 2013
I have sold a property at 2319 FOX MOUNTAIN RD in Williams Lake
I have sold a property at 2319 FOX MOUNTAIN RD in Williams Lake.
13 acres on Fox Mountain! This great property is set up for horses and is fenced & cross-fenced with stalls, round pen, shelter and tack shed. The 3 bedroom manufactured home has a recent furnace upgrade and new flooring. Open floor plan allows for plenty of room to entertain and with a new deck, you can enjoy relaxing outdoors in this great setting. Only minutes from town yet the rural lifestyle you've been looking for. At this price, there's no other.
October 12, 2013
Are You Ready to Make the Move?
So are you thinking it is time to make the move? Besides the obvious reasons such as a job transfer, moving in with a partner, or suddenly single again, many home owners wonder if they are ready to sell their current home and buy another. Do you fall into one of these categories?
If you are ready for a move, then call me to discuss your options!
October 11, 2013
New property listed in Williams Lake - Rural West, Williams Lake (Zone 27)
I have listed a new property at LOT 3 20 HWY in Williams Lake.
Beautiful 10 acres in the Pablo Creek area just 15 minutes from Williams Lake. the property fronts Hwy 20 and backs onto crown land that leads down to the Fraser River. Completely fenced with some great building sites that give you total privacy. Power and telephone at road. Rare find and a place to build that dream home.
October 8, 2013
I have sold a property at 3075 HEINIE PL in Williams Lake
I have sold a property at 3075 HEINIE PL in Williams Lake.
You've found it! A great 3 bedroom home you've been waiting for on 2 private acres in 150 Mile area. Step into the open kitchen with lots of skylights and natural light. Relax in the spacious living room or enjoy your large covered deckwith views of the beautifully treed property that surrounds you. The property is completely fenced with treated posts & rails and is a very private setting near the end of a short cul-de-sac. Circle driveway and tons of parking for the largest RV. Enjoy outdoor BBQs on the extremely large covered deck or by the firepit and picnic table. Monkey wrencher's dream with a large 24x24 insulated garage & a place for all the toys with numerous sheds. Don't wait as there can only be one buyer.
October 5, 2013
That particular time has arrived again where we can reflect on the past and the results that occurred. When we look back at the Williams Lake area we see these kinds of results:
* 269 properties worth $53.4 million have sold in the first nine months, compared to 237 properties worth $52 million in the same period last year.
* Of the 94 single family homes sold to the end of September, half sold for less than $222,500.
* These homes took, on average, 61 days to sell.
* 197 residential houses were listing so far this year in comparison to 232 last year to date.
* Number of recreational properties sold so far this year totalled 8 and was up in comparison to only 3 last year.
* Up to this point in 2013, 25 parcels of vacant land, 12 townhomes, 68 homes on acreage, and 22 manufactured homes in parks and a further 27 on land, have sold this year.
* At the end of September there were 473 properties of all types available for purchase through MLS® in the Williams Lake area.
So as we head into the last stretch of the 2013 real estate market, it will be interesting to see what direction it will take. If you are still looking to buy this fall, give me a call to see if I have something coming up that would interest you. If you are thinking that a spring sell is what you'd like to do and would like to use the winter to do those final touchups, give me a call and we can look at your property and see what we can do to have it ready to hit the market come spring.
October 3, 2013
I have sold a property at 6204 KEITHLEY CREEK RD in LIKELY
I have sold a property at 6204 KEITHLEY CREEK RD in LIKELY.
Large 3400 sq ft commercial shop with a full basement that has been used as a tire and automotive repair business in the past and woodwork shop at present. Could also be used for truck and machine storage or manufacturing. "Bring your ideas." GST may be applicable. The wood boiler heating system belongs to tenant and not included in sale but can be purchased from tenant. Metal roof replaced 10 years ago. Great location at corner of Keithley and Cedar Creek road on the outskirts of Likely. With 2 offices and 3 large bay doors, and a full basement, you could rent as storage space for boats and RV's. Lots of potential at this price.
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