Vancouver Island Real Estate and Community News

 

July 14, 2020

Marketing Your Home

Wondering how to market your home? Looking to understand the current market trends and recent house sale comparisons within your area? 

Reliability and Experience is Key

It is important when marketing your home to find a realtor who understands your local and provincial market. You need a realtor who is consistent and provides an aggressive marketing approach including a blended mix of social media marketing, digital advertising, online and offline marketing efforts. It is important to understand your market and buyer personas that you are looking to target. Your realtor is your guide and be sure to work with someone who is accessible and in constant communication with you and your family! Connect with Jim Grieve today and see how his team works to market your home, designs your strategy and provides you with progress reports on activities related to the selling of your home. 

Create a Custom Market Report!

 

Posted in Selling Your Home
July 14, 2020

Understanding Your Current Market Analysis (CMA)

You’ve loved your home for a while now, and you’ve decided that it’s time to move on (and out) and list it. One of the most important steps that happen early in the process is having a Current Market Analysis (CMA) completed for your home. This process is beneficial to being successful within the market, so it’s important to understand what exactly a CMA is and how having it is actually an asset and for your advantage.

 

What makes a Current Market Analysis (CMA)?

A CMA is a tool to assist in pricing your home. Though this does not replace an appraisal, it will still assist you in understanding what your home is currently worth. A CMA looks at comparable properties that have been sold within the last six months. What makes a property comparable are a few things; the size of the property, the neighborhood (either in the same or a similar one), the number and bed and bathrooms it has, as well as features, upgrades, and the overall condition (Ference, 2019).

Every house has characteristics that make it unique and will factor into CMA and the appraisal price. The condition of your home, renovations and upgrades that made it perfect for you are considered during the CMA. This process allows for your realtor to identify where your home should be listed at to benefit you the most. 

 

How to Use CMA

Now that you have your CMA and understand how you arrived at a suggested price, it’s time to make all this information work to your advantage. A well-priced house is crucial to being successful in the market. This can lead to more interest in the property and more viewings as potential buyers feel as though they’re getting more value (Mastroeni, 2019). By pricing your house right, not only will it sell quickly, and will sell for top dollar as well. Talk to Jim Grieve today and see what your CMA could be.

Click here for a custom CMA report!

 

References

Ference, Audrey. “What is a Comparative Market Analysis? CMA Explained.” https://www.realtor.com/advice/sell/understanding-the-comparative-market-analysis/ (2019)

Mastroeni, Tara. “What is a Comparative Market Analysis and How You Can Use One to Sell Your Home.” https://www.forbes.com/sites/taramastroeni/2019/12/19/what-is-a-comparative-market-analysis-and-how-you-can-use-one-to-help-sell-your-home/#68292cb2118f

 

Posted in Selling Your Home
July 9, 2020

Fall in Love with the Right House

Remember those times where you were dreaming of what could be and scouring the web and available house listings. Did you ever find yourself looking around at the houses that were available, knowing that someday, you wouldn’t just be killing time, but looking for your future home? Someday has now become today and you are ready to buy your first home! Here are a few steps to keep in mind when getting ready:

Get Pre-Approved for your Mortgage

This step is the best way to ensure that the properties you see are the properties you can really see yourself in. Imagine someone has made your favorite cake, everything is exactly how you want it, it’s the most perfect dessert you have ever seen, only to take it away and give it to someone else! We want you to be able to have your cake and eat it too. By ensuring that you get pre-approved for your mortgage, we’ll be able to show you houses that you love with a price tag that fits your budget.

Set Some Goals

It seems every interview or questionnaire asks the question of “where do you see yourself in five years?” As cliché as this question sounds, it’s something to take into consideration when looking for your first home. Are you planning on expanding your family within the next few years? How do you see your career progressing? Do you want to eventually be able to host gatherings for all your family and friends? Knowing the needs, you have now, and planning for your future goals means that you are looking for a home that provides the perfect space for your first home, a new upgrade or even downsizing your home based on your goals and set needs.

Make your Wish-List

Think back to the times you scrolled through the buy-and-sell websites, what made you go “I need this for my house” and where did you think “not for me?” These moments help you learn what you want out of your first home. Is it an open concept floor plan? Maybe it’s a walk-in closet or a garage. It’s important to know what your non-negotiables are and what boxes need to be ticked to find a property that suits you.

Trust the Process

Buying a property will be one of the biggest investments that you make over your life. The goal of your realtor is to help you make a great investment. They’ll ask you the right questions to find the right property for you. They’ll also have the local knowledge to help you find the right house, in the right location for you. Not every step of the home buying process is on every “Buying Your First House Checklist” and they’ll know the finer details that may be specific to the area that are overlooked on those big general lists. Realtors are there to help you reach your goals by answering your questions and helping you find the right property for you.

Buying your first property is an exciting milestone to reach! By learning to trust the process with your realtor and set goals and expectations for what the property can be, will mean that you’ll be seeing properties that can meet or even exceed what you’ve been dreaming of. That being said, talk to Jim Grieve today and let him and his team find you the house that fits right!

Posted in Buying a Home
July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates