Why list your home in winter?

With all the snow Kelowna has received in the last couple of weeks, it is hard to think that spring is just around the corner. When it comes to Kelowna Real Estate, spring the busiest time for buying and selling real estate. However many buyers are looking for a home right now and Kelowna is seeing very low inventory for potential buyers to choose from. With all the signs pointing to a great time to sell in 2013, why is your home not listed?

10 reasons to LIST YOUR HOME NOW!

1. Buyers looking in winter months are serious. 
2. No need to worry about your yard work. Snow makes it look fresh and white.
3. Less competition because of less listing inventory = Higher selling price. 
4. Easier time of year for closing transactions. Lenders, inspectors, lawyers not as busy which will lead to a higher level of service. 
5. Buyers begin the search and purchase for spring moves in January and February. Busy move times are March spring break, April Easter and May long weekend.
6. Less choice for buyers means less sellers to play pricing against each other. Buyers are willing to make more concessions in their buying decision.
7. Little chance of quick showings and not being prepared to show your home. Easier time of year to make appointments and give you advance notice.
8. Everyone lists their home in the spring. Go ahead and beat the rush!
9. Good time of year for school, work switches and transfer of corporate moves
10. You might miss that right buyer, right place, right time being off and timing the market if you don’t list today. 

The OKANAGAN MAINLINE REAL ESTATE BOARD (OMREB) has reported an increase in market activity for the last three years. 

The Vancouver Sun reported that "there were some areas showing growth, including Kelowna (Okanagan Mainline), where the number of sales grew 11.8 per cent in 2012 from 2011, the total sales dollar volume rose 11.2 per cent and the average residential price was $377,979, up 0.5 per cent from the year before." This coupled with a positive report from the Canada Mortgage and Housing Corporation. "In CMHC’s recent  Housing Market Outlook, the housing sales forecast for 2013 shows an increase of eight per cent in sales over 2012. Inventory is expected to remain on the high side, offering competitive sale prices and extending the buyer’s market sales conditions before leveling out by mid-year.  And mortgages rates are predicted to rise only slightly in 2013."

If you’re considering selling your Kelowna real estate call Tiffany Munsey direct at 778-214-4843.  

Talk to you soon…

Tiffany

tmunsey@coldwellbanker.ca

www.tiffanymunsey.com

http://www.tiffanymunsey.com/

Official Report from the Okanagan Mainline Real Estate Board (OMREB) APRIL 2012 STATS: OKANAGAN-SHUSWAP HOUSING MARKET REMAINS STEADY WITH MODEST GAINS

Kelowna, BC – The Okanagan Mainline Real Estate Board (OMREB) reported April 2012 sales activity of all MLS® property types were up compared to the same month last year and have improved over the first four months of 2011, as the housing market remains steady and continues to see modest gains.

Okanagan-Shuswap home sales saw gradual improvement during April. We continue to see up and down fluctuations in each Zone as there are a lot of dynamics in our area – depending on the community, housing type and price point. Now more than ever, it is important for anyone thinking of buying or selling to ask their REALTOR® how their property type is currently faring in the overall market and, more significantly, in their particular neighbourhood.

In April, sales were the strongest in the North Okanagan with a 30% improvement over 2011 and single family homes saw the most significant gain with a 48% increase in units sold. Overall sales for the month also picked up 18% in the Shuswap, and lot sales jumped significantly over April 2011 – from 2 to 8. In the Central Okanagan, it is encouraging to see a 26% rise in the number of lots sold year-to-date compared to the first four months in 2011. The bump-up indicates that builders and developers are purchasing land in our Board area, and more lots are being listed and added to the inventory.

With significant active inventory plus the expected seasonal increases in listings, and the demand for housing growing at a slow but steady rate reflective of the economy and employment, prices are holding steady in most segments in the Board area.

Working with a real estate professional to understand current local market conditions and to provide comparisons specific to your neighbourhood is essential as home values vary based on property type and location. Pricing continues to be of utmost importance when selling a home. Consult with your REALTOR® to make sure your pricing is strategic and reflective of the current values in your area. Remember that serious buyers are motivated by well-priced properties with great curb appeal and room to negotiate. It is important to have realistic expectations when buying or selling a house. Buyers and sellers must agree to come together if they are serious about closing the deal.

For current statistics and the monthly media release, please contact Tiffany Munsey tmunsey@coldwellbanker.ca