David's thoughts on anything real estate related

What’s hot in the Kitsilano Single Family for March 2016

Download homes sold here:https://davidsetton.com/market-updates.html

The Van Westside Single Fam market is very strong and very much fav sellers and Kits is no exception.

- 13 Homes sold in Kits for between $2.1M bought 32’ x 88’ RM-4 zoned rev prop on Maple St up to $4.23M for a renovated home on 1st ave steps to jericho beach

- 12 / 13 homes sold for over asking price

- 33 homes were available and on the market in Kits in Feb so to have 13 sales puts us in a strong seller’s market at a 42% SR (21% or greater)  

- Sold values in Kits are lower at $2.5M than the median price for a home in the Westside - now at a staggering $3.4M

Download the 18 sold home last month here:https://davidsetton.com/market-updates.html

What’s hot in the Kitsilano Single Family for May 2015

The Van Westside Single Fam market is very strong and very much fav sellers and Kits is no exception.

- 18 Homes sold in Kits for between $1.5M (low end - small 33’ x 122’ land) $5.3M for 37’ x 120’ 2007 reno home in Kits Point.

- 60 homes were available and on the market in Kits in April so to have 18 sales puts us in a strong sellers market at a 54% SR (21% or greater)  

- Sold values in Kits are lower at $2.1M than the median price for a home in the Westside - now at a staggering $2.6M

If you like to take a look at these sales, I have a new package you can download at the link below map locating them and photos and details for each property. specialize ph num

To learn more about me click here: http://davidsetton.com/biography.html

High quality full bleed 12 page brochure that will get your luxury vancouver home sold. Hi dynamic range photography and lifestyle photography increases your chances of selling for more money.

Staging company used: http://www.memebrooks.com/

To learn more about my services go to https://davidsetton.com/selling.html

The most important function of a real estate agent is to help you to price your home accurately so that it sells for as close to the true market value as possible.  

I see it time and time again where a seller will over-price a home and the home sits on the market.  Obviously, a seller wants to sell a home for as much as possible.  I can understand why a seller would think that pricing a home on the higher would leave more room for negotiation.  This is only logical.  Unfortunately, the residential real estate market is very competitive and buyers have access to more information than ever in today’s digital age.  And remember, most buyers also have a real estate agent representing them to make sure that they do not over-pay for a home.

Did you know that if a home is priced just 5% higher than the true market value then it may not sell at all? A home priced within 2% of market value will sell within one week!  A seasoned real estate agent will go through the different pricing strategies with his client and make sure that the seller is educated and understands this.  

In a hot market, sometimes pricing a home slightly under market value could benefit a seller.  The seller will then open the door to multiple offers from buyers and may even cause a home to sell for more than it would have otherwise through an emotional response (i.e. people want what other people want).  I always encourage my clients to price their homes as accurately as possible by not only understanding the competition (other homes listed for sale), but also looking closely at what has sold in the last six months to one year.

Did you know that your best chance for selling a home is in the first 30 days?  Pricing plays a big part of generating the buyer traffic necessary to accomplish this.  A seller’s buyer pool diminishes every week, the longer the home sits on the market. Sometimes I compare buyers to bees.  Do you want a swarm of bees coming to view your home or a single bee that just happens to fly by?  Accurate pricing will help attract a swarm to your home.