MOVING ON

By
Real Estate Agent with RE/MAX River City

 "To stand still is to lose, To move is to gain, To change is to grow." --Anonymous

 Properties are still moving

 It is hard to ignore the headlines proclaiming that the real estate bubble has "burst".  Most people have heard about the current market troubles experienced by our American neighbours to the south.  Here in Alberta, however - and Edmonton, specifically - it is not time to sound the alarm bells.  Conditions here are looking positive, and recent numbers bear that out.

 Despite a slower first half of the year, sales were strong in July - the usual expected summer decline did not materialize.  Edmonton-area residential sales were up 14% compared to the same month last year.  Prices have adjusted slightly in response to the levelling of the market, but are still quite stable with no major fluctuations.  The average price for a single family detached home was $379,224 (down just half a percent from the previous month), with days-on-market at about 55.  Though national figures may appear negative at times, they do not reflect Edmonton's strong economy.

 The fact is that people are still moving, and so are their properties.  If you have been considering upgrading your lifestyle, now is a great time.  On the buying side, there are many homes on the market to choose from; on the flip side, properly priced homes are sure to sell.  Moving up is the perfect way to take advantage of both markets. 

 If the Price is Right

 In spite of some myths to the contrary, you can make money in this market, so long as you avoid one of the biggest pitfalls you face in selling your home: overpricing.  It is thinking that seems counterintuitive, but is actually critical in selling both profitably and quickly.  Selling can be a very emotional experience, but do not let your bias cloud your judgement when it comes to deciding on a listing price. 

 Overpricing can bring consequences that, as a buyer, you do not want to see.  The higher the price, the less traffic and interest you attract, from both individuals and other real estate agents; it may result in fewer offers and/or a slow sale.  Additionally, your home will be competing with correctly priced homes that may have more to offer in the same price range, while alienating potential buyers in a lower bracket.  If your property is not moving because of overpricing, a vicious cycle can begin: the longer your home is on the market, the fewer expressions of interest you receive; people may begin to suspect that there are hidden problems, and shy away.  Be sure to take the time, and seek professional advice, to price it right the first time.  Properly priced homes will sell!

 Help with the How-to: Besides the #1 crucial price point we must consider the presentation of your home.  Having your home in pristine condition every time buyers come through your home will put their mind to rest and allow them to see the quality workmanship and the true character of the home.

 Correct pricing is only one part of a successful home marketing plan.  While I will do a comparable market analysis to determine the right listing price for your property, I will also put a marketing plan in place to ensure that it gets top dollar.  When you list with me, we go through all the details to prepare your home for sale, from staging to public promotion, to generate the most interest possible from day one and to ultimately get you the best price in the shortest timeframe.  I am here to make you money and to educate you about what you did not know you did not know; I want to make your "moving on" experience a move up!

-ANGIE RESENDES

RE/MAX RIVER CITY 780.439-7000 www.AngieSellsHomes.com

  

July 2008 activity

Record for
the month*

% change from
July 2007

Total MLS® sales this month

2,037

12.40%

Value of total MLS®sales - month

$702 million

3.46%

Value of total MLS®sales - year

$4.42 billion

-24.90%

Residential¹ sales this month

1,784

14.00%

Residential average price

$335,100

-5.53%

SFD² average selling price - month

$379,224

-9.09%

SFD median³ selling price

$362,000

-8.35%

Condo average selling price

$253,850

-6.64%

¹. Residential includes SFD, condos and duplex/row houses.
². Single Family Dwelling
³. The middle figure in a list of all sales prices

STATISTICS COMPLIMENTS OF THE... EDMONTON ASSOCIATION OF REALTORS

Comments (5)

Travis Newton
Salem and Bend Oregon FHA, VA & USDA 503.931.4490 - Salem, OR
FHA, USDA, VA, LOAN EXPERT - Salem OR Homes For Heroes SALEM OREGON

That's a great post , very well done.

 

Have a wonderful night

Aug 19, 2008 05:22 PM
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Angie

Properties are still selling. I think we just have to work a little harder.

Regards

Tom Braatz

Aug 19, 2008 06:16 PM
Anonymous
Joanna of what-customers-say.com

The real estate market isn't slowing? Interesting. I'd love to hear your thoughts on why a friend of mine selling a nice home with ComFree went about 10 months without a bite before taking the listing down and deciding to rent it out. His two-storey home was listed for a reasonable price and located in Ellerslie. He listed it last August and unlisted it this June.

(I know ComFree is FSBO.... I just wonder what your opinion is on the evidently slower sale process without the help of a realtor in a market that you say isn't cold.)

Aug 20, 2008 08:46 AM
#3
Anonymous
Angie Resendes

Feel free to contact me. I would love to provide you with my take on the market. My inforamtion is located on my main page.

Aug 20, 2008 08:55 AM
#4
Pat Zachow
HomeSmart - Phoenix, AZ

Hi Angie - Somebody gets transferred, some get a divorce, maybe a death in the family are reasons the real estate market never ends.  No doubt a good economy brings the buyers that just want a change.  When the market gets tight we have real estate agents chasing fewer homes and it is a very competitive environment.  You are 100% correct when you say a home priced right will sell in any market.  Our job is to educate the seller and buyer to that fact.

Jul 08, 2011 03:23 AM