Reasons To Sell Your Home Before Winter Arrives in Metro Vancouver

(November 25, 2015 )

THE BC HOME HUNTER GROUP METRO VANCOUVER I FRASER VALLEY I BC URBAN & SUBURBAN REAL ESTATE SALES Look for our trademarkedPeople across the lower mainland and British Columbia are beginning to think about what their life will look like in 2016. It happens every Fall. We ponder whether we should relocate to a different part of the west coast, our province or country for numerous reasons. 

Homeowners in this situation must consider whether they should sell their home now or wait. If you are one of these potential sellers in Metro Vancouver, the Fraser Valley or B.C., here are five reasons to do it now versus the dead of winter. Keeping in mind of course "the dead of winter" here on Canada's west coast isn't like the rest of our beautiful country.

1. Demand is strong in the lower mainland
Foot traffic refers to the number of people out actually physically looking at home right now. The latest foot traffic numbers show that there are more prospective purchasers currently looking at homes than at any other time in the last twelve months which includes the latest spring buyers’ market. These buyers are ready, willing and able to buy…and are in the market right now!

As we get later into the year, many people have other things (weather, holidays, etc.) that distract them from searching for a home. Take advantage of the buyer activity currently in the market.

2. There is less competition now
Housing supply is still under the historical number of 6 months’ supply. This means that, in many markets, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.THE BC HOME HUNTER GROUP METRO VANCOUVER I FRASER VALLEY I BC URBAN & SUBURBAN REAL ESTATE SALES Look for our trademarked

There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market in the near future.

Also, new construction of single-family homes is again beginning to increase. A recent study by Harris Poll revealed that 41% of buyers would prefer to buy a new home while only 21% prefer an existing home (38% had no preference).

The choices buyers have will continue to increase over the next few months. Don’t wait until all this other inventory of homes comes to market before you sell.

3. The process will take longer
One of the biggest challenges of the 2015 housing market has been the length of time it takes from contract to closing. Banks are requiring more and more paperwork and stricter regulations are in now in place before approving a mortgage. Any delay in the process is always prolonged during the winter holiday season. Getting your house sold and closed before those delays begin will lend itself to a smoother transaction.
THE BC HOME HUNTER GROUP METRO VANCOUVER I FRASER VALLEY I BC URBAN & SUBURBAN REAL ESTATE SALES Look for our trademarked
4. There will never be a better time to move-up
If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by over 19% from now to 2018. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. 

You can also lock-in your 30 year housing expense with an interest rate that is ridiculously low right now. We remember the mortgage rates in the early 80's of 19+ percent. Rates are projected to be over 5% by this time next year. In migration and offshore investors will continue to pour into the GVRD and British Columbia driving sales and valuations.

5. It’s time to move on with your life
Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should? THE BC HOME HUNTER GROUP METRO VANCOUVER I FRASER VALLEY I BC URBAN & SUBURBAN REAL ESTATE SALES Look for our trademarked

Only you know the answers to the questions above. You have the power to take back control of the situation by putting your home on the market with our passionate team of real estate industry experts. Perhaps, the time has come for you and your family to move on and start living the life you desire. That is what is truly important. Regardless of the time of year or direction your moving in - our real estate team know your way home.

Until next time,
THE BC HOME HUNTER GROUP
We're looking out for you.
THE BC HOME HUNTER GROUP METRO VANCOUVER I FRASER VALLEY I BC URBAN & SUBURBAN REAL ESTATE SALES Look for our trademarked

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