Moving toward a predictable market

Research shows that since the market turned in late 2008 sales figures in our region have steadily fallen. New homes coming on in our typical spring market are priced accordingly and should take about 60 days to sell. Inventory that is on the market longer than this will need to be price adjusted to attract offers. When setting price it is extremely important to set the list price as close to what the expected selling price will be. Price reductions are not a sound way of marketing a property as consumers often will take the view that there must be something dysfunctional about the property. I suspect that we should see a fairly active spring market as there are some well priced homes coming on the market. Couple this with historically low interest rates should get most consumers off the fence.

Savy buyers will recognize the great choice and snap up the best options.

Are we there yet?

Has the market at Silver Star reached it’s lowest point?

Is it time to take that step forward in acquiring real estate that you can use while still deriving a rental income?

Recent sales figures indicate price corrections of up to $150,000 on condo and home sales. Certain property benchmark sales figures can now how help guide both buyers and sellers in understanding what the current market is supporting. These benchmarks are what really define where the market is.

It is imperative that you sit down with a real estate professional to determine what that all important price is. Whether your listing to attract offers or wanting to negotiate the best possible price for purchase, this is a necessary step.

Not only is there a tremendous inventory to choose from but interest rates are  crazy low. This of course makes it the BEST time to buy. For sellers; price your property aggressively and you will attract local buyers plus the attention of neighbouring provinces and our Australian fans with their strong dollar.

Give me a call and we can talk about it  on the chairlift:)

Price Reductions

Everyday, I see the list of price reductions growing daily for our region. This column almost always outnumbers the solds as the market begins to define itself. As a result, sales activity is beginning to bounce back from a dismal April as Sellers get wise to the adjusted values. Usually an optimistic time for Sellers to gain top dollar for their home, this spring has truly defined itself as a market for market pricing.

Here is the bottom line – if you want to sell your home this spring follow these guidelines:

  • Listen to your realtor ~ they follow the trends, know the comparibles and can predict with expert knowledge what your home should list at and what it should sell for.
  • Don’t choose a realtor because they devalue their service fees, we are NOT all the same.
  • Choose a realtor that sells more than the average realtor, ask for their sales statistics.

This is your most valuable asset, shouldnt you leave it to someone who has a proven track record?

Remember, the pool of buyers is much smaller than it has been in recent years – so giddy up and get going:)

 

Spring into Action

February is the time to turn thought into action!

If you are thinking of listing your home in the spring, now is the time to create a checklist beginning with a market evaluation on your home. In addition to setting that all importance list price; I will help you determine what should be repaired, improved and renewed to make sure that first impression is the best impression.

If you or anyone you know needs the help of a dedicated realtor, please let me know as I am committed to providing the best possible outcome.

New Snow Boosts Ski and Investment Opportunities

[frame_left src=”http://www.broderickrealestate.ca/wp-content/uploads/2010/12/Picture-7.png” href=”http://www.broderickrealestate.ca/wp-content/uploads/2010/12/Picture-7.png”]Silver Star Resort[/frame_left]

An amazing boost of powder hit Silver Star this weekend with a dump of 30cm, more than any other resort in the Okanagan. Picture this: rolling out of bed and casually sipping coffee and having breakfast. Get geared up and slide over to the backside for first “waist deep” tracks on the famous “backside”. Buyer interest is revving up with numerous showings on many of our Silver Star listings. This activity just goes to show that more people would like to see their investments provide “more fun than a mutual fund”.

Price Adjustments We’ve All Been Waiting for…

We are finally seeing the price adjustment come to life. There are opportunities that see a limited amount of condos sporting a listing price that is approximately 10% cheaper. These list prices are reminiscent of list prices back in 2007. Will we see list prices drop further…….not likely as Sellers still want to have negotiating room when the offer comes in. Best opportunities in the condo market right now for freehold, no rental restriction properties are in Creekside and Grandview

Welcome to the Broderick Blog

Hi there and welcome to my Blog – a place where you can get reliable information on what it’s like to live in the Okanagan, what real estate activity looks like here, and find great links to all the best events and informative resources in town!  … and if you’re a keen skier, you’ve definitely found the right place to hang out for a while. I’ll be talking about some things you must know about if you’re going ski or bike or simply live at Silver Star Ski Resort in B.C. … I’ll even take you through some tried and true ski tips.

I’ve been lucky enough to have skied all the mountains up and down this abundant valley. Silver Star Mountain is where you’ll find me when the snow arrives. Come spring, we all trickle down to the valley floor to the glass calm water of Kalamalka and Okanagan Lakes, amazing golf courses like Predator Ridge and to tease our palate with award winning wineries like Gray Monk.

All that aside, there is an amazing energy in the valley as Silver Star Mountain opened its loving arms today. Winter arrived with a sonic boom and weve all began to flock to the mountain. It’s not just the thrill of donning all the gear; it’s catching up with ski buddies, you know the ones you really only see from December to March… It’s like time stopped and you pick right back up where you left off. It’s calling in sick on any day over 20 cm… It’s walking into Long Johns and hugging the first John you see; its Frank’s rosy cheeks and Bugaboos’ amazing cream horns that my kids can’t seem to get enough of. It’s many things to all of us, but the fact of the matter is, we are so lucky to live here…we know if you give it and try and let us show you around, you’ll never want to leave and that’s just fine with us!

Ski you soon!