For the SELLERS - Why is your home not getting the showing activity you want?

I would like to take a moment to say "if you are not having many showings you are not alone." We are seeing a massive slow down across the board...reasons for this are thought to be because of the fact that we are in the summer (slow time)...once summer hits and weather is warm we traditionally see a slow down here in the Okanagan...you may be saying well the weather has not been too nice...that is true and that brings me the second and third point in why we are seeing a slowdown...as I am sure you know financing has been very difficult for many people to get...the words that came out of the mortgage brokers mouth who I had lunch with today were "Pre approvals mean nothing these days....all a pre approval means is a rate hold for the buyers interest rate...I have seen so many deals fall flat even after the client was pre approved by the lender...the lenders are ultra conservative right now.".....yikes! I can attest to the fact that is true as I have personally seen many many deals (that looked like they were no brainers) come crumbling apart...The next biggie of a reason for the slowdown is the dreaded HST...and although this will not effect too many homes out there the buyers are cautions...as is the Canadian way whenever anything out of the norm happens everyone puts on the breaks and wants to 'see how it effects the neighbors.' We have the tendency to be conservative and timid and we dont want to get burned so we wait to see how it effects others before we say 'ok...looks like it does not make much of a difference." We also did not see too much of the expected 'rush to buy BEFORE the HST." We all thought that there would be a mad scramble for people to buy before HST hit...well the fact is it did not seem to happen....I believe that due to the fact there there is so much inventory on the market (and buyers hate to be rushed) buyers just shopped around without much commitment to the cause of buying...The fear of buying a home and then seeing something better come along or prices go down was and is too much for most buyers right now...that does not mean that homes are not selling it just means that they are not selling as fast as we all would like...When a buyer goes on MLS to find a home and gets hit with "there are 157 homes that meet your search criteria" it turns into a daunting task to weed through them...then more and more places keep coming on and the 'fun' of buying becomes a burden...It does help when people turn to a Realtor to assist them in getting those numbers down but many buyers do not like to turn to a Realtor until they either feel like they have gotten all the info they can gather on their own OR they become so frustrated that they just need some help....So at the end of the day the message is you are the not the only one who is seeing a slow down...BUT do not lose hope....homes can sell in a few hours...all it takes is one phone call and the right person and it is done before you know it...and there is sometimes no warning! Fingers crossed and rest assured I am working as hard as always to make a SOLD sticker appear on your sign!

Trever Florko

Trever Florko

Personal Real Estate Corporation
CENTURY 21 Assurance Realty Ltd.
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