Whether you’re a home owner in Vancouver looking to sell or a potential home buyer in the market for a new home, there are some useful things you should know about the Vancouver real estate market. Market trends are constantly in a state of flux and none are more so than Vancouver real estate.
Asking the Right Questions
Before we look at pricing trends in the property market, there are few questions that are bound to be burning inside you, as a buyer or seller. What information should I have before looking for Vancouver real estate agents; what are my chances of making a profit on my home if I sell now versus sell it in 2013; will it be easier to buy/sell a home in 2012 or should I wait until next year?
Getting this kind of information can often be a challenge because no single resource can possibly answer all your questions. That’s the purpose of this blog article – to give you a comprehensive but easy-to-digest overview of the real estate market in Vancouver, and what you can expect from the market, real estate agents and potential sellers or buyers.
Know your Real Estate Market Trends
Understanding market trends is crucial; for example, if you knew that Vancouver East is showing a 16 per cent drop in sales volumes year-on-year, it might help you (as a seller) to put your home on the market now rather than later. The trend also shows that volumes are forecasted to stabilize during 2013. So now it’s a question of putting your house up for sale as well as finding an aggressive agent who will find the highest bidder quickly. If you’re at the buying end of a sale, you might decide to wait it out and let prices drop below the 9 per cent that they’ve already dipped so far.
The Right Approach for Sellers and Buyers
Another critical piece of information is this: how to find a reliable Vancouver real estate agent. You might opt to peruse some MLS (multiple listings service) websites to identify the home first; as an alternative, you may want to review some local Vancouver agents in the area of your choice before you can see your first potential home. Your needs should be the deciding factor – are you more particular about the neighborhood, the price or the features of the home itself as a priority item? Knowing this will help you ask the right questions of your realtor and pave a smooth path for your purchase. If you’re selling, work with the most reputed firm operating in the area; they will have the right resources and contacts to close the deal for the buyer with alacrity.
Whatever your need, remember that the real estate agent and mortgage broker you choose to work with are the key links in the process. Now that you know the basic trend in the market and how to go about identifying the best agent for the job, your search for a home or a buyer will hopefully be much easier.
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