Will Your Regina Home Be Waiting In Line To Sell?

Clair Whittington (Rock Bridge Realty) — Wed, 18 Jan 2012 21:58:00 -0800

Don't you hate it when people cut in line? Not only is it very annoying, it makes you wait longer to take care of your business or to get to where you're going next. Homes for sale are in a competitive line, with the home offering the best value in its category selling first – a price-to-value position, so to speak.

In theory, a home further back in the line (third or fourth position) would eventually sell, once the better valued homes (first and second place) have sold. Unfortunately, this is not the case. New listings are continually entering the market and cutting in line. This causes the inferiorly priced homes (third or fourth place) to stay behind in line, never actually selling - unless they improve their price-to-value position.

Therefore, in order to price a home so that it will sell, it's very important to consider your position relative to other homes on the market. I call it strategic pricing. This is another example of the importance of having a knowledgeable realtor in your corner! A realtor has access to market information that you don’t. A realtor will be able to see the overall picture in your area, and determine a price that is commensurate with the prices brought recently by comparable homes in that area. A realtor can look at your home much more objectively than you, and recommend the best price point for you to place it. After touring your home, a realtor can also make suggestions (if necessary) regarding things you can do to improve the salability of the property. You would be amazed at the big difference in value a few relatively inexpensive fixes can make!

Want to know how to get out of line in a reasonable amount of time? Shoot me an email or just call.

Happy Selling! :)

If you have your own questions about buying or selling properties in Regina, give me, Clair Whittington, a call, and I’ll help you get focused on buying your next Regina home.

Best Deals in Canadian Real Estate from MoneySense Magazine

Clair Whittington (Rock Bridge Realty) — Wed, 23 Jun 2010 18:12:48 -0700

This article from MoneySense Magazine is such a useful one in explaining the current state of the housing market in Canada, I am including it below in its entirety. As an agent from Regina, I am proud of where our city stands.

Clair

Best deals in real estate

by Don Sutton, MoneySense
Wednesday, June 16, 2010provided by

Where do you want to live? Where can you afford to live? Every major Canadian city scoured for bargains!

It's a crazy time for real estate in Canada. Prices are sky-high, people are feeling pressured into selling into a hot market and buyers fear purchasing an overpriced home only to see the bubble burst.

But MoneySense magazine has come to the rescue and crunched the numbers to identify the best real estate deals in the best cities.

Using hard data on 35 major housing markets, the magazine has awarded a letter grade based on how reasonable the house prices are, whether home prices are likely to rise and how prosperous the local economy is. Surprisingly, none of the winning cities are Canada's largest, but instead reflect medium-sized cities with affordable house prices that have the ability to grow strongly with local economic conditions.

More at MoneySense:

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The best deals in real estate in Canada are to be found in Moncton and Regina, both of whom received an A-, while Fredericton, St. John's, Ottawa, Gatineau, Winnipeg, Guelph and Saint John all received a B+.

The criteria for the study was strict and comprehensive. MoneySense compared average rents to average home prices, which gives a great indicator of how valuable a home is. Next it compared local wages as to average home prices to see how long it would take for a family to purchase a home. The magazine also evaluated how quickly homes sold and prices increased over the years.

Last, the economic environment of the city was also analyzed. The magazine looked at how fast a community grew, what the unemployment rate was and what kind of discretionary income the citizens had.

This method avoided identifying cheap real estate in communities where prices were unlikely to increase due to a poor local economy or widespread unemployment.

The analysis gives a comprehensive overview of where to get the best real estate deals in Canada. The study is also useful for identifying which real estate markets to avoid. For example, Abbotsford and Montreal both only rated Cs.

MoneySense's study also identified overpriced markets. For instance, Kelowna, B.C., scored well in the category of growth potential and has a great local economy. But the average house price makes it hard for the typical family to buy into the market. With this aspect in mind, Kelowna rated a D+ in the value category and a C+ overall.

Windsor, Ont., where house prices are among the best values in Canada, is in the opposite situation. It rated an A for affordability, but since the city is slowly recovering from deep layoffs in the car industry, it only rates a C in the momentum category and a C+ for local economy, giving it a B+ overall.

In concrete terms, what the best cities for real estate like Regina and Moncton have going for them is big-city growth and opportunities without big-city prices. While the affordability and growth value of a home are not always the prime reasons to buy in a particular location, knowing that your home is a sound investment in an economically vibrant city offers great peace of mind.

Top 5 cities:

   1. Moncton A-
   2. Regina A-
   3. Fredericton B+
   4. St. John's B+
   5. Ottawa B+

See the complete rated list of cities

See the slideshow

Clair's Regina blog

Will Your Regina Home Be Waiting In Line To Sell?

Best Deals in Canadian Real Estate from MoneySense Magazine