Locally, there are some homes that are in high demand and are drawing multiple offers to them. These are usually the homes that are in great locations and are updated both inside and out. Some homes are undervalued or priced low for the current market trend in their neighbourhood , thus drawing a lot of interest. So should you find yourself competing with other buyers for a home, here are a couple of tips. First you must know the market of the location you are interested in.
Many people assume that the local municipality are the ones who create new roads and subdivisions for builders to purchase lots and build their new homes.
Traditionally, March, April and May are strong months to sell your home for top dollar. Several buyers are already looking for that perfect new home, and have many search tools available to them. As a seller, you want to get the highest price possible within a reasonable amount of time on the market. Proper research and the help of a professional experienced realtor can ensure you are ready. There are various ways with which to arrive at a selling price.
Sarnia -Lambton has between 150-200 new homes built and sold every year. Each and every one of them should come with a new home Tarion warranty. But remember that although the warranty is always identical for every builder,there are good builders and poor builders, as well as inexpensive builders and overly expensive builders. The warranty is only as good as the builder behind it. Getting a builder that will come back and service your needs is important. Most new builders must take several courses from an accredited college, and must pass exams.
Many sellers enter into a contractual relationship with a realtor while having little or no knowledge about their background, experience, or track record. You should ask realtors if they are full time professionals or part time dabblers, and if they are committed to working for you, or are doing real estate sales as a hobby or way of trying to make extra money. Sellers need to determine the realtors ability to communicate and negotiate, and if they are available to them. These days many realtors simply let others do their communicating and negotiating for them, on your behalf .
2018 has shown continued rises in average home sale prices in Sarnia, Lambton. We should end up with $300,000 to $325000.00 as our medium price point, locally. We are starting to be on par with Windsor-Essex, but still well below the rest of the province and the national average. This indicates to me that newcomers are discovering the many benefits of buying and settling in the south west water front corridor of Ontario. Retirement living and affordable housing, combined with our moderate weather, seems to be the biggest draws .
Quite often lately buyers find themselves competing for a home with multiple other buyers, when a home is competitively priced, thus creating a “bidding war”. Several offers for the same home are submitted, each trying to outdo the others. Buyers participate in a blind bidding process where they submit an offer hoping they are not outbid. Sometimes they are asked to raise their bid without any details about the alternate offers. Some buyers remove conditions from their offer that are designed to protect them, hoping to make their offer more attractive to the seller.
Fall is the time of year when home owner’s begin creating their renovation wish lists, and start planning their home’s make-over. October is renovation month, and there are an abundance of people and ideas, all offering advice on what to do, and where to spend your hard earned dollars. Before you spend a dime, you should consider several factors carefully, so the dollars you spend will increase the value of your home as well as your enjoyment.
More and more often we are seeing newly renovated, vacant homes, come on the market that were previously sold only weeks before. These are called flip houses, a house that somebody has purchased, renovated, and put back on the market for a profit.
A good question by buyers, rarely asked, is if there are any little known problems with the neighbourhood where they are house hunting. The traditional questions “What are the neighbours like?”, “Is the neighbourhood quiet?”, “What is the school district?”, “Is it a safe neighbourhood?”, are all important to get answered, but there are other areas that can lead to serious concerns later, if not investigated before you buy.