Important Information for Selling Your Home

10 Tips for Home Sellers

According to Christine Rae, president of CSP International Staging Academy and the author of SOLD and Home Staging for Dummies, buyers have choices. They make decisions about a property within a blink of an eye. Here are ten overlooked tips for getting a property sold:

1. Don’t get personal

Whether working with a professional stager or going it alone, cut all emotional ties. Visit each room, remember the memories and then pack the sentimentality away. It clouds judgement. Don’t look at your house from the perspective of it being yours, or this is who we are—buyers aren’t interested. Remove and store as many personal items as possible including all family photos, certificates, diplomas and medicine.

Read more here.


From the Kootenay Real Estate Board:

Kootenay home sales slowing, but still above average in July

Home sales recorded through the MLS® System of the Kootenay Real Estate Board in July 2015 came in below levels from July 2014.

Home sales numbered 273 units in July 2015, down 6.5 per cent on a year-over-year basis. Sales of all property types numbered 310 units in July 2015, a decrease of 7.2 per cent from July 2014.

On a year-to-date basis home sales totaled 1,437 units over the first seven months of 2015. This is running roughly in line (-0.5 per cent) with the same period last year.

“While sales have slowed down a bit in recent months, activity in July was still running ahead of the same month in the last eight years with the exception of a slightly stronger reading last year,” said David Blishen, President of the Kootenay Real Estate Board. “On the supply side, inventories are continuing to trend slowly and steadily down. As a result, the balance of supply and demand has almost converged on its historical average at this point.”

The average price of homes sold in July 2015 was $277,327. This was down 5.4 per cent from July 2014. The less volatile year-to-date average price was $278,755, down 0.4 per cent from the first seven months of 2014. The bigger picture is that prices have remained more of less stable over the past six years.

New residential listings numbered 526 units in July 2015, falling 7.7 per cent from July 2014.

Active residential listings on the Board’s MLS® System numbered 3,067 units at the end of July, down 5.3 per cent from the end of July 2014.

There were 11.5 months of inventory at the end of July, unchanged from a year earlier and not far off the long-run average of 10.5 months for this time of the year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

The dollar volume of all home sales totaled $75.7 million in July 2015, down 11.6 per cent from year-ago levels. The total value of all properties sold was $81.4 million, a decrease of 13.7 per cent from July 2014.


Helpful economic forecasts:

http://www.bcrea.bc.ca/docs/economics-forecasts-and-presentations/clireport.pdf

http://www.bcrea.bc.ca/docs/economics-forecasts-and-presentations/housingforecast_.pdf

http://www.bcrea.bc.ca/docs/economics-forecasts-and-presentations/mortgagerateforecast.pdf


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