Looking Ahead to a Busy Fall in Real Estate
I can’t help but look towards the fall season after experiencing some end of August rain and grey days. I’m sure parents with kids are getting ready to send kids back to school, while many others are on their way home from summer vacations.
East Vancouver Real Estate was unusually busy through July, things really slowed down in August. Pent up demand from the interested Buyers who didn’t purchase in the Spring, along with increasing interest rates kept East Vancouver Home Buyers interested at the beginning of the summer, though when inventory (i.e. East Van houses and condos for sale) started to drop significantly (which normally happens in the summer), so did the interest level from Buyers. So for the Buyers who have not been successful in finding the right property, and for everyone else who’ll start looking after they settle into school and work after summer vacations, East Van Real Estate is about to get busy!
Typically, the Real Estate Market in Vancouver picks after Labour Day and doesn’t let up until Christmas. Sellers will finally put their home on the market after considering it all summer, and Buyers will revisit the thought of purchasing a new home. Thanks to these two ideas there will be more homes and condos on the market, and more competition/interest to buy them.
The uptick in East Van Real Estate doesn’t happen all at once. Certainly there are Seller’s who have their home ready to be listed in the first week of September, but many Sellers won’t be prepared to put their home on the market for a few weeks (they’ll be busy cleaning, organizing, re-painting and more). Expect the first week of October to have a high amount of inventory, in everything from Vancouver Specials, East Van Character Homes, East Van condos & townhomes.
If you’re interested in getting into the market to buy, sell or perhaps do both, here’s some advice:
Information for Buyers & Sellers in East Van
For East Van Home Buyers: Start looking with a good idea of what you want (your deal breakers) – there’s a chance you’ll find many good homes to buy and so decisions will have to be made, sometimes quickly if the property has a lot of interest from other Buyers. The more you look for homes, the easier it’ll be for you to decide what works for you. We’ll also help narrow down your choices based on the quality of the homes/condos, pricing, and our years of experience. If you see something you like, there’s no better time than now! You might not have the luxury of time thanks to the number of other Buyers also looking for something similar. Similarly, don’t be dismayed by multiple offers on properties you like, those happen, and we’ll deal with them in the best possible way – with your best offer on the property. It’s my job to keep you focused on the end goal of finding a good home for you you and your family.
For East Van Home Sellers: Present your home as best as possible – that means clean, organize and fresh. There will be a lot of competition, and Buyers will be seeing multiple properties on the same day so small details like curb appeal and cleanliness make a big difference. Unless it’s a reno project, Buyers don’t want to buy a home knowing there isa lot of work to be done before settling in. Also, consider all offers. Some Buyers might come at you with a low offer (it’s been happening all summer, so the trend may continue), but we can work with those offers to get them up to a price that works for everyone. If you’re interested in selling, we have a great marketing program to present your house professionally and to give Buyers confidence in your home.
The team at WeLoveEastVan are happy to answer any questions you may have about East Van Real Estate, the home buying or home selling process and more. I can also get you set up to be emailed new listings through our INSIDER’S EDGE program – this way you’ll see the listings as soon as they come online, and you’ll start to develop a good sense of what you can get given your price range and “must have” features.
Give us a call anytime if you’re interested to find out what you’re home may be worth in today’s market, or if you want to know how to best prepare your home for sale.