The Seller Wants More Than The Property Is Worth
The most effective strategy for negotiating with a seller who wants more than market value in my experience is informing the seller so they can make an educated decision and the time and circumstances of the seller. In this case, and depending on the market situation, when the seller's price is higher than recent comparable properties in the same area. Here are the main things for the seller to consider. 1) The Seller with a higher-priced property will receive fewer viewings. In most cases, a property on the market over 90 days is overpriced and may not even get any showings at all. 2) Less, or perhaps no offers at all on their property. 3) Sellers who price their properties slightly below or in line with recent properties sold will sell faster. 4) The property may sit on the market longer than necessary. 5) By waiting to sell for a higher price, interest rates may increase and affect the affordability that buyers can purchase in a particular price range. It is important as a seller to have your real estate agent do a comparable market analysis on your property to help the buyer set the list price for their property. Ultimately, the choice is up to the seller. Perhaps the real estate agent sharing the recent comparables may help convince the seller that their price thinking is too high. Disclaimer: The information provided in this blog post is for informational purposes only and should not be considered financial or investment advice. For questions about real estate, contact Ed Black today at (403) 830-8510. Ed BlackREALTOR® Copyright © 2023-2024 All Rights Reserved. This is not intended to solicit buyers or sellers currently under contract with another brokerage.
Options for Senior Home Owners Selling in the Current Market
As an empty nester or someone nearing retirement, you might be considering downsizing your home. With house prices at an all-time high, selling your home can provide you with a significant amount of additional income to support your retirement. However, with high interest rates and home prices and fewer options available on the market, selling your home may also be quite daunting. Your unique circumstances and financial goals will play a significant role in determining the best course of action for you. It's important to identify what your needs are and find the best options to suit your unique situation. Downsizing could provide you with a more affordable living space while also providing additional funds and flexibility to enjoy your retirement and explore the world. Another benefit of a smaller home is that it generally requires less maintenance and upkeep. This option may be most attractive to those who have paid off—or nearly paid off—their home, freeing up some of the equity it has generated to support their goals. Great options for downsizing in Calgary would be the Beltline area, which offers a mix of condos, apartments, and townhomes, as well as a range of amenities such as restaurants, shops, and parks. You may also consider moving to a different area. Strathmore, Airdrie, Cochrane, Okotoks and High River are all areas near Calgary with a lower cost of living. These areas offer a more relaxed pace of life while still being within a reasonable distance of Calgary's amenities and services. Another option is renting. This option may initially seem less attractive but could provide several benefits you may not have considered. One of the biggest benefits of renting is the lack of hands-on maintenance. As a renter, you're not responsible for repairs or maintenance; avoiding the time, energy, and hassle of making those yourself or finding someone else to fix it. Renting also provides more flexibility. If you need to move for any reason, you can simply wait until the end of your lease and move to a new location without worrying about selling a property. Additionally, you may have more locations to choose from, making it easier to grab a spot close to family, friends, transit, schools, a grocery store, or your favorite activities. Overall, renting can be an excellent option for older couples who are looking for convenience and flexibility. Retirement communities are another option to consider. These communities offer a range of amenities, including housekeeping, transportation and meals, while also providing a sense of community and socialization. Some popular retirement communities in Calgary include the Sienna Living Group, the Trinity Hills Retirement Community, and The Manor Village. If you're looking to move outside of Calgary, there are many great retirement communities in the surrounding areas. For example, Strathmore, Airdrie, Cochrane, Okotoks and High River are all popular choices for retirees who want to enjoy a slower pace of life while still having access to all the amenities and services of the city. For those who want to maintain a sense of independence but need a little extra help, assisted living facilities might be a good option. These facilities provide assistance with daily tasks, such as cooking and cleaning, while also offering healthcare services. Some great assisted living facilities in Calgary include the Verve Senior Living communities and the Amica Mature Lifestyles group. If you're thinking of downsizing, selling your home can be a great option to provide additional income for your retirement. With a range of attractive and feasible options available in Calgary and the surrounding areas, you're sure to find the perfect home for your retirement years. That being said, the decision to sell your home will depend on your circumstances and priorities. As a real estate professional, I understand that this can be a difficult decision to make. My goal is to help guide you through the process and provide you with all the information you need to make a confident and informed decision. For questions about real estate, contact Ed Black today at (403) 830-8510 Copyright © 2023-2024 All Rights Reserved. This is not intended to solicit buyers or sellers currently under contract with a broker.
When Is Generally The Best Time To Buy Property
Spring is often considered the best time to buy property, as it is the season when the real estate market typically sees a surge in activity. With warmer weather and longer days, more potential buyers are out and about, making it a great time to explore the housing market. In this blog post, we will discuss why spring is considered the best time to buy real estate and how it compares to winter months. One of the main reasons why spring is a popular time to buy property is because there tends to be a wider selection of homes available on the market. Many homeowners choose to list their properties during this time, hoping to attract more buyers. This increased inventory gives potential buyers more options to choose from and increases their chances of finding the perfect home. Another advantage of buying property in spring is the weather. Winter months can make it challenging to view homes and explore neighborhoods, especially in areas with harsh climates. In spring, the warmer weather allows buyers to tour properties comfortably and get a better sense of the overall condition of the homes they are considering. Spring real estate sales also tend to be more competitive than in winter months. With more buyers in the market, there is a higher chance of encountering bidding wars. While this may sound daunting, it can also motivate sellers to be more flexible with their prices or negotiate other favorable terms. Buyers who are prepared and have their finances in order are more likely to secure a deal during this competitive season. However, it is important to note that while spring is generally considered the best time to buy property, it may not be the best time for everyone. It ultimately depends on individual circumstances and preferences. For example, buyers who are not constrained by school schedules may find better deals during other seasons when there is less competition. In conclusion, spring is typically considered the best time to buy property due to the increased inventory, more favorable weather conditions, and higher competition. However, potential buyers need to evaluate their specific needs and circumstances before making a decision. Whether you choose to buy in spring or any other season, being well-prepared and working with a knowledgeable real estate agent can maximize your chances of finding your dream home. For questions about real estate, contact Ed Black today at (403) 830-8510. Ed BlackREALTOR® Copyright © 2024 All Rights Reserved. This is not intended to solicit buyers or sellers currently under contract with a brokerage.
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