It seems like wherever you go theses days it’s easy to find yourself in a conversation about Real Estate, and if you own a home in this current market you are usually walking away from the conversation with a smile on your face.
Half-way through 2008 homeowners were seen with similar smiles, until the taps turned off, and the market was not so hot for sellers and really good for buyers. I was fortunate to sell in a high and buy in a low that year, and I am thankful that I took the advice of my real estate agent at the time. Well fast forward 8 years, and now he is my “Real Estate Mentor”, and yes he is still giving great advice, after 34 years in the business.
This week I was sitting with Larry and we were discussing how markets can turn on like a tap and turn off like a tap. Well the tap seems to be stuck on “Hot” right now, and CMHC predicts that things are not going to change till 2017. We can’t tell you the future market, but we can look back over the past and see that we have regular cycles of the market going up and then correcting and then going up again. These cycles tend to last about 7 years. So with 2008 being the last big correction, could a change be in the wind? Wish I could answer that one.
Maybe right now might be a great time to make a move, here are two reasons why selling your home now might be a benefit.
- Top Prices – Last year at this time the average single detached home sale in the city of Surrey was at $562,000. One year later we have seen a 35% increase to an average price to $865,000.
- Less Competition – Last year in April 2015 in Surrey, we had 1251 single detached home listings on the Market and 417 sales that month. This past April 2016 we have 859 homes on the market and 579 sales. What does that translate too? An amazing sellers market, with less homes on the market and more buyers looking for homes.
If you’re thinking of staying in your home for the next seven years, then ride the wave and catch the next “Hot” market. But if you are thinking of making a change and selling your current home, now is an excellent time to do so. Our Team is helping people retire early, others are being helped to move out into the valley to buy their dream home, we are helping others to get into that waterfront property they have always dreamed about.
So whats your next move? Give me a call and allow me to come by and share with you what it means to work with Dave, at that time it also allows me to see your home and its selling features, I will also describe our Market Strategies which are creating at times an “Auction Effect”. A few days later I will return with an accurate market evaluation, and coach you on three listing price categories for you to choose from. A big part of my business is Referrals, so if you or some one you know needs my help I would love to here from you. Again thanks so much, I look forward to hearing from you …..Dave