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How To Confidently Sell a Home In The Fall

There is an unfortunate myth that permeates the worried minds of real estate consumers: Selling in the Spring is the best time to sell your home because it’s the only realistic way to achieve maximum market value for your home.


This is absolutely not the case! While Spring is typically the busiest market in terms of overall sales, this does not automatically translate into higher earning potential. The Fall, traditionally seen as the “second best” real estate market in terms of seasonal timing, is actually a great time to sell for various reasons. In this blog, I’m going to detail the top four reasons why listing in the Fall is a great choice. I will then give you some practical tips that will instill confidence in your ability to achieve top dollar in this particular market.

Top 4 Factors That Benefit Fall Listings

Less Competition

In the Fall, it is undoubtedly true that you will have much less competition than in the Spring. There are fewer Buyers in the Fall market on average, but also far fewer properties that your listing will be competing with. This presents a unique opportunity to stand out among the crowd and work towards a mutually beneficial deal with a prospective buyer. With less listings to compete with, you carve out your unique place in the housing market and actively entice the most meaningful buyers to consider your property.

Market Flexibility

Due to Spring’s inherent competition, there is almost always a large swath of houses that remain on the market in the Fall that were initially listed in the Spring. Some may have been overpriced, and some may have just suffered from failed transactions with unqualified buyers. Whatever the reason, a segment of your listing competition will be from what Realtors call “stale listings”, which are those that have been listed for several month’s time at around the same price. The market is now more flexible in its offerings. Now is your best opportunity to stand out among the crowd!

Buyers Antsy

During the Fall, you will be faced with plenty of opportunities from Buyers that simply didn’t pull the trigger during the Spring months. Many have missed out on multiple offers, while others may have paused their search until the Summer months are over (this is especially true for the family demographics). Whatever the case, those qualified buyers that didn’t purchase in either the Spring or Summer markets are now as motivated as ever to initiate a purchase in the Fall. Buyers get excited about the new influx of homes for sale and come to you with more meaningful intentions and the experience to prove it. Additionally, Buyers are also motivated to purchase prior to Christmas time so they have time to settle in before the holiday season begins.

Fall Colours

This factor is outside the scope of market dynamics but is still worthy of mention. Fall is a period of time characterized by brilliant colours and a certain kind of nostalgia. Your property, especially if it has some natural features included like trees, can now be presented in a way that no Spring listing can! The beautiful colours serve to amplify the beauty of your property in the listing photos and this increases the chance buyers will say “wow!” even before they see your home. This factor is especially relevant to Okanagan real estate! Our valley is blessed by a remarkable change in colour.

List in the Fall With Unshakable Confidence

Here are four time-tested methods that contribute to an excellent Fall listing:

Professional Photography

As mentioned above, Fall presents a unique opportunity to capture the natural beauty of your home. Colours are changing and this can make colours pop and gets prospective buyers excited about certain property features. While I personally always recommend professional photography for your real estate listings, Fall is an especially important time to do so! Allow the professionals to handle this step because it can make a big difference in the final sale price. Buyers want to feel like they’re buying something special. Nothing depersonalizes a property more than poor photos that fail to capture the natural beauty of a given property.

Take Photos Well Before The Snow Flies

Be sure to have your trusted Realtor book your listing photos for a time where snow is not yet likely to be on the ground. In the chance that your listing extends beyond the regular parameters of the Fall market and into the Winter market, your listing will again stand out among the crowd. This is because Buyers can see what the home looks like when there isn’t any snow covering the property’s features. There’s a surprising amount of high-importance property features that can be covered up by those fluffy white flakes!

 Be Flexible With Showings

Fall is a time where a lot of people are scrambling. Kids are back in school and adjusting to their new classroom environments, and parents are busy at work while trying to dial in Christmas-time arrangements. It’s a hectic time! There’s a considerable benefit to being more flexible with showing requests on your home. It’s okay to have boundaries when it comes to reasonable showings, but the more accommodating you are to the stressed-out buyers that will eventually be interested in your home, the greater chance they will give you the same courtesy in return.

Go The Extra Mile To Stand Out

Remember all that talk about standing out? Now is the time to lean into this sentiment! All efforts should be made to stand out among the crowd of other listings. This can take the form of upgrading a major component of the home, such as purchasing new windows or replacing an ageing roof. This can also be an aesthetic upgrade, such as repainting the exterior of your home with a trendy colour. Whatever the upgrade, work with your trusted Realtor to determine the most realistic upgrades that you can handle that will serve to make your home stand out.

Conclusion

Listing your home in the Fall is a great time to showcase the features of your home that will matter most to the plethora of eager buyers in the market. With the strategic points above to guide you, combined with the help of your trusted Realtor, you will place yourself in a great position to sell your property with steadfast confidence!

Featured Listing

8215 Silver Star Road
This is the rural oasis you’ve been looking for! This custom-built home on a 1-acre parcel features hardwood floors, spectacular lighting fixtures and a lovely vaulted ceiling. There are 3 bedrooms plus a den as well as a self-contained suite on the lower level. Though, these are only some of the greatest features of the home! Head outside to your own private sanctuary complete with a hot tub and gazebo, all surrounded by the trees and other natural features unique to the property. This home also has a detached extended garage/workshop that is fully insulated and wired. So much beauty all wrapped up into one property! This is the type of property that makes Vernon real estate so exciting.


*Click here to see the full listing*


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Declaration period to Begin for BC Speculation & Vacancy Tax ...


Here is important, time sensitive information on the completion of a declaration and registration of an exemption regarding the speculation and vacancy taxation.... click on the link below for detailed information....


Speculation & Vacancy Tax declaration - click here




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BC Home Sales Continue at Slower Pace

Vancouver, BC – December 14, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 5,179 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in November, down 33.1 per cent from the same month last year. The average MLS® residential price in BC was $718,903, a decline of 1.9 per cent from November 2017. Total sales dollar volume was $3.7 billion, a 34.3 per cent decline from November 2017.


“BC households continue to struggle with the sharp decline in purchasing power caused by the B20 mortgage stress test,” said Cameron Muir, BCREA Chief Economist. “Most BC regions are now exhibiting relative balance between supply and demand.”

Total active residential listings were up nearly 31 per cent to 33,500 units in November, compared to the same month last year. However, it should be noted that this compares to 2017, when active listings for the month of November were at their lowest level in more than 15 years.

Year-to-date, BC residential sales dollar volume was down 23.1 per cent to $53.4 billion, compared with the same period in 2017. Residential unit sales declined 23.6 per cent to 74,847 units, while the average MLS® residential price was up 0.7 per cent to $713,302.

-30-

For more information, please contact: 

Cameron Muir  
Chief Economist  
Direct: 604.742.2780  
Mobile: 778.229.1884  
Email: cmuir@bcrea.bc.ca  

The British Columbia Real Estate Association (BCREA) is the professional association for about 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province's 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients.

To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.

For detailed statistical information, contact your local real estate board. MLS® is a cooperative marketing system used only by Canada's real estate boards to ensure maximum exposure of properties listed for sale.


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Zoning By-Law changes for cannabis

approved by Council



(December 11, 2018  ... News)

Vernon City Council has approved the changes to the Zoning Bylaw to permit cannabis sales, processing and cultivation in many of its commercial and industrial zones....


Click Here - for full story........


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RLP Downtown Realty

Disclosure of Representation in Trading Services Form

A complimentary introduction to the Real Estate Council of British Columbia's new requisite form meant to inform consumers about the types of representation they may receive from a REALTOR in a real estate transaction.


Helping You is What We Do!


Click Here -  Disclosure of Representation in Trading Services


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BC Home Sales to Rise in 2019 
BCREA 2018 Fourth Quarter Housing Forecast

Vancouver, BC – November 8, 2018. The British Columbia Real Estate Association (BCREA) released its 2018 Fourth Quarter Housing Forecast today.

Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 23 per cent to 80,000 units this year, after recording 103,768 residential sales in 2017. MLS® residential sales are forecast to increase 12 per cent to 89,500 units in 2019. The 10-year average for MLS® residential sales in the province is 84,800 units.


To read the entire article -  click here..


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New Legislation makes it clear:  Farmland is for Farming.......




Legislation introduced on Monday, Nov. 5, 2018, makes it clear that land in the Agricultural Land Reserve (ALR) is for farming and ranching in British Columbia, not for dumping construction waste or building mega-mansions.

To read the entire article, see below....


Click Here to read entire Article


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Province targets speculators and vacant homes, supports housing affordability


The British Columbia government has introduced legislation to tackle speculation in B.C.'s housing market and help turn empty properties into homes for people...


https://news.gov.bc.ca/releases/2018FIN0075-002014

BCREA’s Position on Drug Operations

When a property has been involved in drug production, it can pose serious health and safety risks to the public resulting from mould, chemicals thrown out in the backyard, electrical fires and invasion by criminals looking for drugs, even if the property is no longer being used for drug production. It’s important for members of the public to be informed if a property they are interested in moving into was ever identified as having a history of drug production. Unfortunately, there is no consistency across the province on how municipalities make this information available, nor is there a provincial standard of remediation for buildings used to produce drugs.


To read full article - Click Here

How To Confidently Sell a Home In The Fall

There is an unfortunate myth that permeates the worried minds of real estate consumers: Selling in the Spring is the best time to sell your home because it’s the only realistic way to achieve maximum market value for your home.


This is absolutely not the case! While Spring is typically the busiest market in terms of overall sales, this does not automatically translate into higher earning potential. The Fall, traditionally seen as the “second best” real estate market in terms of seasonal timing, is actually a great time to sell for various reasons. In this blog, I’m going to detail the top four reasons why listing in the Fall is a great choice. I will then give you some practical tips that will instill confidence in your ability to achieve top dollar in this particular market.

Top 4 Factors That Benefit Fall Listings

Less Competition

In the Fall, it is undoubtedly true that you will have much less competition than in the Spring. There are fewer Buyers in the Fall market on average, but also far fewer properties that your listing will be competing with. This presents a unique opportunity to stand out among the crowd and work towards a mutually beneficial deal with a prospective buyer. With less listings to compete with, you carve out your unique place in the housing market and actively entice the most meaningful buyers to consider your property.

Market Flexibility

Due to Spring’s inherent competition, there is almost always a large swath of houses that remain on the market in the Fall that were initially listed in the Spring. Some may have been overpriced, and some may have just suffered from failed transactions with unqualified buyers. Whatever the reason, a segment of your listing competition will be from what Realtors call “stale listings”, which are those that have been listed for several month’s time at around the same price. The market is now more flexible in its offerings. Now is your best opportunity to stand out among the crowd!

Buyers Antsy

During the Fall, you will be faced with plenty of opportunities from Buyers that simply didn’t pull the trigger during the Spring months. Many have missed out on multiple offers, while others may have paused their search until the Summer months are over (this is especially true for the family demographics). Whatever the case, those qualified buyers that didn’t purchase in either the Spring or Summer markets are now as motivated as ever to initiate a purchase in the Fall. Buyers get excited about the new influx of homes for sale and come to you with more meaningful intentions and the experience to prove it. Additionally, Buyers are also motivated to purchase prior to Christmas time so they have time to settle in before the holiday season begins.

Fall Colours

This factor is outside the scope of market dynamics but is still worthy of mention. Fall is a period of time characterized by brilliant colours and a certain kind of nostalgia. Your property, especially if it has some natural features included like trees, can now be presented in a way that no Spring listing can! The beautiful colours serve to amplify the beauty of your property in the listing photos and this increases the chance buyers will say “wow!” even before they see your home. This factor is especially relevant to Okanagan real estate! Our valley is blessed by a remarkable change in colour.

List in the Fall With Unshakable Confidence

Here are four time-tested methods that contribute to an excellent Fall listing:

Professional Photography

As mentioned above, Fall presents a unique opportunity to capture the natural beauty of your home. Colours are changing and this can make colours pop and gets prospective buyers excited about certain property features. While I personally always recommend professional photography for your real estate listings, Fall is an especially important time to do so! Allow the professionals to handle this step because it can make a big difference in the final sale price. Buyers want to feel like they’re buying something special. Nothing depersonalizes a property more than poor photos that fail to capture the natural beauty of a given property.

Take Photos Well Before The Snow Flies

Be sure to have your trusted Realtor book your listing photos for a time where snow is not yet likely to be on the ground. In the chance that your listing extends beyond the regular parameters of the Fall market and into the Winter market, your listing will again stand out among the crowd. This is because Buyers can see what the home looks like when there isn’t any snow covering the property’s features. There’s a surprising amount of high-importance property features that can be covered up by those fluffy white flakes!

 Be Flexible With Showings

Fall is a time where a lot of people are scrambling. Kids are back in school and adjusting to their new classroom environments, and parents are busy at work while trying to dial in Christmas-time arrangements. It’s a hectic time! There’s a considerable benefit to being more flexible with showing requests on your home. It’s okay to have boundaries when it comes to reasonable showings, but the more accommodating you are to the stressed-out buyers that will eventually be interested in your home, the greater chance they will give you the same courtesy in return.

Go The Extra Mile To Stand Out

Remember all that talk about standing out? Now is the time to lean into this sentiment! All efforts should be made to stand out among the crowd of other listings. This can take the form of upgrading a major component of the home, such as purchasing new windows or replacing an ageing roof. This can also be an aesthetic upgrade, such as repainting the exterior of your home with a trendy colour. Whatever the upgrade, work with your trusted Realtor to determine the most realistic upgrades that you can handle that will serve to make your home stand out.

Conclusion

Listing your home in the Fall is a great time to showcase the features of your home that will matter most to the plethora of eager buyers in the market. With the strategic points above to guide you, combined with the help of your trusted Realtor, you will place yourself in a great position to sell your property with steadfast confidence!

Featured Listing

8215 Silver Star Road
This is the rural oasis you’ve been looking for! This custom-built home on a 1-acre parcel features hardwood floors, spectacular lighting fixtures and a lovely vaulted ceiling. There are 3 bedrooms plus a den as well as a self-contained suite on the lower level. Though, these are only some of the greatest features of the home! Head outside to your own private sanctuary complete with a hot tub and gazebo, all surrounded by the trees and other natural features unique to the property. This home also has a detached extended garage/workshop that is fully insulated and wired. So much beauty all wrapped up into one property! This is the type of property that makes Vernon real estate so exciting.


*Click here to see the full listing*


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Post Your Comment:

Housing Supply Not Keeping Pace With Demand in Most BC Regions...

 

 

Vancouver, BC – June 13, 2017. The British Columbia Real Estate Association (BCREA) reports that a total of 12,402 residential unit sales were recorded by th

e Multiple Listing Service® (MLS®) in May, down 7.9 per cent from the same period last year. Total sales dollar volume was $9.33 billion, down 4.0 per cent from May 2017. The average MLS® residential price in the province was $752,536, a 4.2 per cent increase from the same period last year....

 

Click here to read entire article...