How's Your Real Estate Market?
Always a good question. From what I see the Abbotsford real estate market is pretty much a balanced market. By balanced I mean Buyers and Sellers carry equal momentum coming into a negotiation. Equal momentum is available because the supply of options for the Buyer is equal to the supply of Buyers to the Seller. The number of sales has dropped slightly from a year or even 6 months ago. Combine that with a minor increase in the number of properties on the market and you have balance.
Some Buyers appear to be reading this as some sort of huge advantage to them, offering low . . . very low. In reality, the only advantage to Buyers may be in the number of choices they have. Fooling around with the price by offering too low may cause the Seller to dig in their heals resulting in their number one choice belonging to someone else. My advice - if you find the property that best suits your needs act quickly because there are still a lot of Buyers on the look and all Seller's know it only takes one.
This apply's especially to Buyers choosing a principle residence. If a needed location is available and a suitable product hits the market don't loose that perfect property in negotiation. Weigh the dollar amount in question against the years of life enjoyment.
In any case, happy house hunting. Here's hoping that perfect property comes your way.
Posted by Len Visser
on June 14, 2010