Selling houses in Nanaimo BC can be harder than you might think, especially when your real estate deal begins to fall apart! Things that can go wrong include the Buyer not being thoroughly qualified by the Lender, Contract Contingencies that have not been resolved, and poor results from a home inspection.
Need tips for selling your home in Nanaimo? The first, last and most important tip is to use a Realtor. And no, this isn't a self-serving post. Here's why. Realtors are legally required to follow certain rules and codes of conduct, plus they are trained to spot flaws and defects that the average lay person would miss. Just as importantly they can foresee problems with contracts, inspections, loans and closing issues - and get them solved before they end up harming your deal. Selling and buying houses is their specialty.
Homes for sale in Nanaimo BC often sell fastest over the holiday season. Surprised? It's true that many home sellers believe that November and December are the worst months for selling a home. While there are fewer buyers out looking for a home to buy over the holiday season, those that are looking are typically highly motivated. These buyers need to buy fast due to a job relocation, because they have already sold the home they live in now, or a change in family situation.
There are usually not as many home buyers in the market in the winter months but those that are shopping are usually motivated. To get your home sold in the winter time, it’s important that it shows well. Here in Nanaimo the winter months can be a little dreary so making your house look cozy and inviting is a great way to make people ‘feel at home’.
There are three important things to think about when pricing your Nanaimo property. First, the greatest opportunity you have to sell your home is when your property is new to the real estate market. Next, that means that pricing your home accurately is extremely critical to your success. Which means that over pricing your home - something that many inexperienced sellers try to do - will reduce the pool of interested, qualified buyers by almost half.
Wondering what the top tips are for selling your home in today's Nanaimo BC real estate market? First of all, be sure to declutter your home. You want a prospective home buyer to imagine that they are living in your home, not you. Next, seriously consider staging your home for sale, especially if it is vacant or your furnishings are older and outdated. Your Realtor can give you tips on whether or not home staging makes sense for you.
When you are looking at condos for sale in Nanaimo BC you should keep in mind that buying a condo is not like buying a house. Condos typically come with a lot more amenities than do houses, things like social areas, swimming pools and club houses. There are also fees for the utilities, maintenance and repairs costs, so it is important to know which ones you will pay for and which expenses are in included in the monthly Strata.
If I were to sell my home in Nanaimo the best thing that I would like to see is a bidding war, where there are two, three or more qualified and highly motivated buyers that want my home. If you are a buyer in the middle of a bidding war, Realtors in Nanaimo will tell you that you should Put Your Best Offer Forward, Limit Your Contingencies, and know what really Motivates The Seller.
With so many Nanaimo neighbourhoods to choose from how to you find one that's right for you? First, visit the neighbourhood that you like at several different times, weekdays, evenings and weekends. Next, make note of the differences during the different times - things like many parked cars or barking dogs. Then, talk to the neighbors. Tell them you're looking at different parts of Nanaimo to buy in and see what they have to say about what's good and what's bad about where they live today.
When you're looking at Nanaimo real estate for sale it's a good idea to focus on three bedroom homes rather than two bedrooms. That's because a third bedroom will give you multiple options like a home office or entertainment area. Plus, you will always find a use for the extra space and when it comes time to sell your home in Nanaimo having a third bedroom will be very attractive to buyers.
The three top common mistakes that people buying homes for sale in Nanaimo make are to shop for homes that are not in their price range, look at houses in neighborhoods that they do not like, and not have enough money saved up to pay for their closing costs. Surprisingly very few home buyers in Nanaimo have a good idea of how much money their closing costs will be when buying a home in Nanaimo!
If you want to take the stress out of buying real estate in Nanaimo BC, the most important thing you can do is to get your lender to preapprove you before you even set foot in your first open house. Getting preapproved means that you have given your mortgage broker all of the financial documentation that they need and they have told you how much of a mortgage you can qualify for, so that you know the price range of the houses for sale in Nanaimo that will be in your price range.
If you are considering purchasing a home for the first time in Nanaimo here are the top five reasons why you will want to have some money saved in the bank before buying real estate in Nanaimo: Down Payment, Closing Costs, Cash Reserves, Moving Costs and those ever so unexpected but not so uncommon Miscalculations!
What the buyer sees when he first looks at your home for sale, stays with him for a long time. Be sure your home makes a good first impression. Don't ignore the front yard and entry way of your home. Buyers who see a home for sale that looks unappealing from the outside, just move along to the next listing without ever going through the door! Once the buyer goes through the door, staging your home with a few decorating changes will help him feel this is a home he might want to live in.
First time home buyers enhance their chances of getting a mortgage by saving some money ahead of time. It is important to have cash on hand to cover all costs associated with buying a home. Some things to consider are: down payment, closing costs, moving costs, cash reserves to cover the first few months payments and mathematical errors in budgeting or over estimating earnings.
Buying a house is exciting! Buyers are often caught up in the moment and in the throes of making an immediate decision whether or not to buy, don’t usually look any further down the road than that.
The Buyer should consider the following when choosing a home with good resale in mind: locations not backing onto busy streets, avoiding intersecting street corner locations, a house that is not necessarily the most expensive one on the street and be sure all essential shops and services are located nearby with a local shopping centre that is healthy and busy.
The best strategy for sellers to take is to be prepared! One way to do this is to get a home pre-inspection and fix deficiencies before listing your Nanaimo home for sale. Defects found during a home inspection by a buyer can be a deal breaker. By doing a pre-inspection you have an opportunity to fix or repair the things that could make a deal collapse. The expense of a pre inspection is a small price to pay for the peace of mind that comes with a successful buyers inspection.
According to the Real Estate Council of British Columbia, there are more than 22,000 realtors British Columbia. Visit: http://www.recbc.ca/ Selecting a Nanaimo realtor can be a complicated task. Some specialize in oceanfront property or condominiums. Others deal primarily with commercial property. Almost all are well versed in the basics about Nanaimo homes for sale.
When deciding which of the many Nanaimo realtors to select for a specific purpose, a good starting point would be to consult with Lynn Donn who provides information about the Nanaimo real estate market. All inquiries may be directed to (250) 800-2717.
Many people like to wait until the busy spring market to sell their homes. However, this year in Nanaimo we are experiencing a seller’s market. A seller’s market is when there are more buyers than sellers in the market place. Right now we are experiencing very low inventory levels which means that if you list your home and price it at market value, you stand a very good chance of selling it quickly.
There is no question that here in Nanaimo a 3 bedroom home has much better resale value than a 2 bedroom home. There is a much bigger market for 3 bedroom homes because the third bedroom opens up all sorts of usage options from a place to sleep to a media room or just a place to store things. Two bedroom homes exclude people with families as there just isn’t enough room.
According to the rental market survey released by CMHC the average vacancy rate in Canada's major centers was 2.9%. In Nanaimo it is 2% and in Parksville 1%. The vacancy rates in both towns are well below the average. The low vacancy rate is a good sign for investors wishing to become land lords.
Information regarding Nanaimo homes for sale, Nanaimo real estate and Nanaimo real estate agents will be readily provided upon request. A wide inventory of informative sources pertaining to Nanaimo homes for sale has been compiled over a period of years using state-of the-art technology. It only takes a simple call to 250-800-2717 to learn more about Nanaimo real estate. Nanaimo realtor Lynn Donn offers this as a public service. Throughout the years she has acquired a reputation as one of the most respected Nanaimo realtors.