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Showing your Home on Short Notice

Unless you’re selling in a strong sellers’ market, you should take advantage of every opportunity to show your home. Say, for example, an interested buyer would like to see your property tomorrow evening. If you say no, they might see another listing in the meantime — and make an offer!

 So, being prepared to show your home at the drop of a hat is important.

That doesn’t mean you should agree to be inconvenienced constantly. However, if you can put up with some disruptions in your plans now and then, you’ll increase your chances of selling your property.

 Consider these tips:

  • Avoid restricting showings to a particular weekday, such as Monday evening and Saturday afternoon. What if an interested buyer isn’t available those days?
  • Try to keep your home clean and tidy. That way, you can accommodate a short-notice request to see your listing more easily. (Consider temporarily hiring a cleaner.)
  • Make a list of places you can take your family (including pets) on short notice. For example, a park or movie.

Want more tips for selling your home quickly and for top dollar? Call today.

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Showcasing the Unique Features of your Property

Imagine you’re at the grocery store shopping for oranges. Two brands are available: the “Amazing Orange” and the “Super Orange.” Which would you choose to buy?

Chances are, you wouldn’t decide based on their similarities. For example, since both oranges contain vitamin C, using that as a buying criteria wouldn’t help you choose between them. Instead, you would probably look for differences. What does one brand have that the other does not? Maybe one is less expensive, organically farmed, or is seedless!

When people make buying decisions, they often look for differences.

So, if you’re thinking of selling your property, highlighting its unique and desirable features — its differences from comparable homes — is crucial.

How do you do that?

The first step is to make a list of those special features you want buyers to notice. Those might include a new and spacious deck, extra high ceilings, a finished basement, move-in readiness, and other characteristics.

Next, you want to make sure those features are emphasized in marketing materials and when staging your home.

There are many ways to emphasize features through staging. For example, if the deck is a desirable feature, ensure it’s well-lit in the evenings (for afterdusk viewings.) Also, make it easy to see when buyers are in your home, by having the curtains pulled back.

You may be able to explore other ways to ensure buyers notice and appreciate the deck too.

Differences make a difference! Show them off when selling.

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4 Ways to Find the Time to Sell your Home

Are you thinking about selling your home this spring? If so, one factor that may be holding you back is time. You might be worried that you won’t find the time in your busy schedule to sell your property successfully.

If so, here are four strategies that will help:

1. Understand what needs to be done
Do you know what you’ll need to do to sell your home? Do you understand the steps involved? Do you have a clear idea of how long it will take to complete various tasks, like getting repairs done and doing some “staging”?

The more accurately you can anticipate your tasks and how long it will take to complete them, the better you’ll be able to plan and schedule.

2. Keep a “moving” calendar
It’s a known time management fact that using a calendar and blocking out time for tasks will ultimately save you time. So, use your calendar, or create a new one just for moving-related items. With an up-to-date calendar in place, you’ll always have a view of what needs to be done and how those tasks fit into your weekly schedule.

Maintaining a moving calendar also reduces stress.

3. Ask for advice
How should you stage your main floor? Should you make any home improvements? How should you prepare for a buyer coming to view your property?

You don’t need to guess or Google. Get professional advice. Doing so will expose you to the most current best practices and will save you time.

4. Hire help
You don’t need to do everything on your own. Instead, consider hiring professionals to do at least some of the work for you. For example, hire a painter, a lawn mowing service or a dog walker.

Hiring professionals during the selling period can save you countless hours. And, those costs may be offset by the sale of your home.

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The 2022 Victoria Real Estate Market Year in Review
January 3, 2023  A total of 320 properties sold in the Victoria Real Estate Board region this December, 26.9 per cent fewer than the 438 properties sold in December 2021 and a 16.7 per cent decrease from November 2022. Sales of condominiums were down 38.2 per cent from December 2021 with 94 units sold. Sales of single family homes decreased 24.6 per cent from December 2021 with 156 sold.

A grand total of 6,804 properties sold over the course of 2022, 32.3 per cent fewer than the 10,052 that sold in 2021. 2022 sales came closest to 2014's sales year when 6,698 properties were sold.

"We began the year with record low inventory, and with higher than average sales," says 2022 Victoria Real Estate Board President Karen Dinnie-Smyth. "And then the market changed on a dime. Interest rate increases through the remainder of 2022 signalled the end of low-cost borrowing and pushed buyers to the sidelines. Each time interest rates went up, market activity slowed. As we head into 2023, we continue to see the cost of moving and borrowing money undermine demand. Slower sale activity has resulted in inventory levels rebounding from historic lows, which means there are more opportunities for buyers in our market this year than in recent years."

There were 1,688 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of December 2022, a decrease of 20 per cent compared to the previous month of November but a 158.9 per cent increase from the 652 active listings for sale at the end of December 2021.

"The new year begins with the federal government's ban on foreign buyers," adds President Dinnie-Smyth. "This is a disappointing politically motivated action in the theme of government trying to slow demand, rather than addressing the more lengthy and less politically popular process of building more housing supply. The cost of housing is unlikely to be affected by this ban because we know from the government's own data that foreign buyers represent only a handful of transactions in our region in recent years. At the provincial government level, legislation began today for the cooling-off period, now referred to as the Home Buyer Recission Period. The Victoria market has already cooled off, which leaves this legislation at least a year out of date and toothless in terms of public protection, as standard condition terms are often longer than the three-day legislated term. Victoria REALTORS® support policies that provide housing that British Columbians can afford, and we are pleased to see some of our municipalities considering innovative builds that can help with this. Will 2023 be the year that the housing supply chain will be front and center on all levels of government agendas? If we fail to encourage new development now, we will have another supply shortfall in an upcoming market cycle which will lead to pressure on pricing. New government rules further complicate real estate transactions - so if you are buying or selling in 2023 - be sure to call your favourite Realtor for guidance."

The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in December 2021 was $1,262,600. The benchmark value for the same home in December 2022 increased by 1.7 per cent to $1,283,600, down from November's value of $1,307,100. The MLS® HPI benchmark value for a condominium in the Victoria Core area in December 2021 was $544,100, while the benchmark value for the same condominium in December 2022 increased by 5.6 per cent to $574,300, down from the November value of $587,800.
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MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.