6 Mistakes to Avoid When Selecting Your Asking Price

Did you know there’s more to selling a home than just the price? There are 7 other factors you should consider if you are to be successful.

However, your asking price will be used as a filter by prospective buyers when deciding if your home makes the shortlist or not. If you get no showings, or if you get lots of showings, the message is the same ie “thank you, but no thank you”.

Let’s consider a few errors most homeowners make when calculating an asking price.

1. Pricing against unsold homes

Do you want to sell your home or have it “on the market”?

Too many folks look at what’s for sale and price against those homes. Don’t do this. Price your home against those homes that have…

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Want to buy a home in the Edmonton area soon? Beware.

Your behavior during the home search and purchase process could directly effect your chances of success. Here are 3 things you MUST avoid before you buy and move into your new home.

1. Switching Jobs

Mortgage lenders are cautious. If you switch jobs just as you are applying for a mortgage, your ability to borrow money may simply evaporate until you have passed a suitable probation period, which is most often 3 to 6 months. If you have your eye on that dream home now, chances are it will be long sold before you quality for a mortgage. Our advice: Stay in your job until you move in.

2. Buying That New Car

We have seen this happen several times. A prospective buyer ‘stops in’ to their…

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In my years of working in the Edmonton area real estate market, I have seen many sellers make the mistake of rejecting the first offer outright. Unfortunately much to their cost later on.

Here are 3 reasons why home sellers should think again:

1. When it’s New It’s Interesting

We like to call it the “Honeymoon Period”. A correctly ‘positioned’ house or condo for sale will generate rapid interest from buyers and should result in one or more offers within the first couple of weeks and sometimes in the first few days, especially in the busy selling times of the year. The mistake that sellers sometimes make is that because the offer came in quickly, they don’t value it and expect that there must be something better ‘just around the corner. Never…

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Summary:

More buyers purchased a home in April of 2016, than in April 2015. Days on market stayed relatively low and values are so far not following the path of depreciation some suggested back in January of 2016.

Numbers Sold:

 

Sales volume for April 2016 essentially matched for April 2015. One more home sold this year than last, a clear indication that ‘life goes on’ in the world of residential real estate, despite the current downturn in the economy.

Days on Market

Edmonton home buyers were continuing to take their time to select a new home. In April, home buyers were taking 9 days longer than last year to purchase. This is 3 days longer than March 2016, so it may point to a slowing market. However with average days on market at…

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