NelsonLocal.com Summer 2011 NewsletterINSIDE THIS ISSUE:Market Update Real Estate News in Nelson, BCMarket UpdateThere is no shortage of conversations regarding what is happening in the British Columbia Real Estate market. So what is really going on? "We continue to observe a two-speed market in BC, with surging consumer demand in Metro Vancouver overshadowing more moderate demand in other regions," said Cameron Muir, BCREA Chief Economist. While the overall British Columbia Real Estate market has seen a 14% decline in sales volume but an average sale price increase of approximately 15%, the Kootenay Region trends don’t seem to be following such a prosperous path. The Kootenay region sales volume has decreased by 17.6% with an overall average price decrease of 5.5% as of the end of April of 2011 for the same period in 2010. In the city of Nelson as of May 31st, there were only 20 reported sales to the 87 active listings within the single family dwelling market. On average, it took 89 days for those successful listings to sell. Kootenay Region StatisticsThe Kootenay Real Estate market seems to still be pulling along at a snail’s pace with a regional decline of approximately 39% fewer overall unit sales. We are seeing all listings categories sitting on the market for longer periods of time before being reported as sold, and inventory levels are hovering about 29% less than at the same time in 2010. Below is a breakdown by community for the average price of residential home sales for all sales reported until the end of May. (figures provided by Kootenay Real Estate Board, deemed to be correct but not liable for error)
How Realtors HelpMany people who try to sell their own home end up using a REALTOR® in the end anyway. Before anybody decides to fly solo through this complex, time consuming and financially perilous process, they should consider these questions. Will you really "save" the real estate commission?When buyers see a home for sale 'by the owner', they see a bargain. They imagine the REALTOR®'s fee going into their pocket, not yours. How many potential buyers will you reach?Selling a home takes more than just hanging a "For Sale" sign. How will you promote your home? Will you write your own ads? How will you use the Internet? MLS® and the corresponding web site www.REALTOR.ca have changed the way people search for homes, and it's hard to court buyers without it. Do you have the time?Promoting a home is a full time job, and you may already have one. Will you be able to take calls at any time? How about screening the callers to figure out if they're suitable candidates? Not everybody who calls is even suitable to walk through your home, but how do you tell? Do you know the market well enough to get the most for your home?Lacking years of experience, the average do-it-yourselfer is merely guessing at their listing price. Often they set the price too low and miss out on thousands of dollars, or they price their home too high and drive away willing buyers. Do you have the negotiation skills to keep a deal on track?When an offer comes in, emotions can run high with so much money on the line. This is why direct seller-to-buyer deals often end in disaster. REALTORS® keep it professional and are indispensable when it comes to bargaining with buyers. Visit www.howrealtorshelp.ca for more information for how a Realtor can help you with your next purchase or sale. Real Estate Listing InfoYou can search for all listings on the Multiple Listing Service website to see a full range of properties throughout the Nelson and surrounding areas. Listings throughout all of Canada can also be found on these websites. www.mls.ca or www.Realtor.ca . Contact me with any questions on all MLS® listings at info@nelsonlocal.com. If you are considering making a purchase or sale in the area and want some expert advice on the local market, give me shout and visit www.NelsonLocal.com for more information about Nelson BC Real Estate. I am currently seeking new listings. Don’t forget that I donate $50 of each sale to charity.Visit http://nelsonlocal.com/charity.html for more details about my local charity program. Feature Listings
MLS®: K200588 – Ainsworth Log Home for sale
MLS®: K201834 – Centrally Located 3 Bedroom Home for sale
Link of InterestKootenay Angler: If you or anyone you know is interested in fishing in the Kootenays, check out this fishing website for fishing hotspots, fishing reports, videos and photos from two passionate Kootenay fisherman. Future Ideas?If you have any ideas for content for upcoming issues of the www.NelsonLocal.com Real Estate Newsletter please email me your thoughts to info@nelsonlocal.com.
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