I read a news report the other day from one of my competitors regarding the condition of the real estate market in the St. John’s area. The report said that “By the end of this year, the average price of a home in St. John's will reach nearly $303,000 - six per cent over last year's record of $285,000.” Yet in the same breath “The report says an unprecedented inventory of new homes will mean a gradual correction in prices.”
The statement sounds a bit contradictory don’t you think! In reality, in the overall market you generally don’t get both. Higher inventories generally mean houses stay on the market longer and prices usually have to correct to be more competitive to sell. That would explain why a high number of home did not sell in 2013. Market values are based on “supply and demand.” The same principal applies to houses as it does to cabbage or gasoline, the higher the supply, the lower the demand. So when you hear or read about residential housing market forecasts, before making a decision, determine the source of the information.
In 2013 half of the houses that went to market sold. Every day I see a high number of listed homes expire without out selling. I also see substantial price reductions. Before going to market, be well informed. Rather than get caught up in the hype, get all the information. If you are like most people, your home is your most valuable financial investment. Approach it like any other investment in a businesslike manner and try to leave emotion out of it.
Because a high percentage of homes have failed to sell, would you not agree that Information is Power?
I will be happy to share strategies in a 30 minute In Home Consolidation, giving you the "Seller's Edge." It will show you the mistakes many sellers make that they have not been made aware of. In my 26 years as a Realtor Consultant, this Systemized Marketing Program has revolutionized the way I sell homes, empowering me to sell homes in a fast or slow market with increased viewer traffic, at a higher than average sales price and less days on the market.
You will also receive the free booklet, "Getting Your House Ready To Sell." It discusses important information that can add desirability, help shorten the selling time and eliminate many of the frustrating problems that can so often accompany the selling of a home.
I offer this no nonsense approach to selling real estate at no obligation. There will be no pressure, no hype. Want to be well informed. Call me at 709-682-2502.