Buyers in this market have to be prepared.
Financially, strategically, and emotionally. Be organized and break out your running shoes (slip ons if you have’em). Real estate prices are rising, and the market is keeping us all on our toes. In a moments notice, you may have to make some very important decisions.
Staying informed of market sale prices and effective strategies are critical for success in our real estate market. Gone are the days in Ottawa of a listing price for a home being based on what comparable homes have sold for in that neighbourhood, and expecting maybeeeeee 3% of negotiating room on average.
Listing price has everything to do with generating as much interest as possible for the home, to then receive multiple offers on the home. Inevitably the home will sell for what the successful buyer is willing to pay for that home. This often relates to emotional value, which can be very inconsistent from one sale to the next sale on the street.
All to say, interpreting and gaining perspective for pricing is so important in managing your expectations in the current Sellers Market in Ottawa. Of course there are exceptions to the above, but all too often this is the case.
Many clients of ours have been successful in this market, not always on the first offer, perhaps not even on the 2nd or 3rd. But all to stay, stick with it and stay positive. Remember, this should be a little bit fun and a whole bunch of excitement. We will be here by your side to guide and advise you, and help you reach your goals!