Question from my client Darcie, “Should I be listing my house for sale in December?”
Great question Darcie - Experience shows that December is not the best time to sell a house.
Why?
The reason is that the market is not very focused and the only people that are selling are either desperate sellers that have to sell or unmotivated people that do not care when their house will sell.
To get a good price for your house I would recommend to list in the second half of January. By then, Christmas and New Year’s celebrations are over and everyone is focused and back to business.
However for the same reason, December can be an opportunity for the right person
If you are an investor or a first time buyer, December can be a very good time to find some bargain prices and great mortgage rates. In the past I helped a few of my clients/investors to acquire investment properties in December that appreciated 2-4% in less than 90 days. (Do the math on the $400,000 purchase they made…$8,000-16,000).
In Real Estate as in life, timing is everything. Talk to your Realtor about these issues and if you don’t have one, just comment bellow and I will get back to you with an answer ASAP.
Tibor
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Abbotsford Market Watch
 What is a pre-sale? Example scenario: When the developer intends to build an apartment building and applies for financing, the bank will grant financing under certain conditions. One of them will likely be a certain percentage of pre-sales the developer will need to secure before receiving the funds.
It is common practice for a developer to approach several real estate investors and offer them an opportunity to purchase units of the non-existent building at a discounted price, and on good terms. Once the number of pre-sales is accomplished, the developer goes ahead with the construction, which will likely take two years or longer to complete. During construction, their marketing team offers the remainder of the units for sale at market value to the public. If you are a RE investor, you know that it is preferable to be buying at the pre-sale prices, not market value prices. The question is, how do you get the invitation to buy a pre-sale? In the past many years, investors have made substantial income by buying at wholesale prices and selling at retail prices even before they needed to complete their purchase. I saw many of them lining up and sometimes even camping overnight in front of the sales center to get a chance to buy at lower prices, but not everyone was lucky enough. You needed to be well-connected to get an opportunity, and you had to act fast. Today is a bit of a different story. Several projects in the Lower Mainland and Fraser Valley offer really good prices and incentives to secure a unit now and complete the purchase two or three years later. The list of incentives varies from one project to the next. Besides attractive prices, you can get low deposit amounts (5-15%), low or no assignment fees, free updates, a mortgage rate buy-down program, extra parking and more. A month ago, I helped a few of my clients purchase a presale in Surrey that sold out in 2 days, and I know of another good developer that will be offering a few units for sale as well. If you would like to know more about these opportunities, I would encourage you to call or email me, and I’ll be happy to send you details on those projects. Kind regards,
Tibor Bogdan
Century 21 Creekside Realty Ltd. 45428 Luckakuck Way #190, Chilliwack, BC V2R 3S9 cell: 604-855-2521 |
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