Asking Over Assessed Value and Still Attracts Hundreds!
A house on Prince Edward Street asking $40,000 OVER the City Assessed Value drew hundreds of potential buyers during its 4 hours of Open Houses on the weekend. The house located near Main and E20th features 2 beds on main flr, 1 loft up, and a completely renovated 2 bedroom suite down with S/S appliances & custom designed bathroom. All 3 levels have solid hardwood floors and the home has just been freshly painted, new back deck, new fencing, roof is only 10 yrs old. This home has been meticulously maintained. Livable, lovable, and lovely according to the listing Realtors.
It is almost certain this house will have multiple offers submitted today and will sell today or tomorrow well over asking price. Is this normal or typical in today's market? If a property is priced well (especially entry level 1 and 2 bedrooms and detached homes) then yes, this is happening regularly right now.
It is important for potential sellers to be made aware of how busy the market is today. As the above home serves as an excellent example, there are hundreds and hundreds of potential buyers looking right NOW. It is a great time to get into the market for first time home buyers and an even better time to upgrade from your current residence. Do not underestimate the strength of the Vancouver Real Estate market and be aware that despite what the media may report, this is a great time to sell your home under the right circumstances.
Get a home evaluation done (free and with no obligation) by a local Realtor and find out what your home is worth. Then make the decision to sell or hold. Educate yourself so you can make a decision that makes sense for both today and tomorrow.
For more information on the home on Prince Edward or the Vancouver Real Estate Market contact me below.