when should I list?

Should I list now? This has been the question that many people have been asking me, my answer is yes. Not because I want your listing but because there isn't the furry out there, that there is in the spring. And, yes if I have your listing I will do everything within my power to make it beat out the competition on the market. It is also a good time to list because there is less competition. In the last 3 months there were over 400 sales which still indicates it's a Buyers’ market. However, your home might be what a particular Buyer is looking for. Remember Location, price and how the home shows up against the other competition is what will get it sold. As far as location, there is not much you can do about that but there are Buyers who are looking in a particular location and they will not look anywhere else. Price, any home will sell especially if it is priced right, many Sellers have said "well I won't give it away". You as the Seller should have a market comparison to compare your house to the other competition and then price it fairly so you can attract the Droves of Buyers out there. Now I will tell you that there are approximately 1900 houses for sale in the general Kamloops area, seems like a lot, but if I have Buyers that are looking for something that they can't find right now with that many listings on our boards, this means that there are still homes out there that aren't listed, that may meet the Buyers requirements. How well your home shows against the other competition is up to you as the Seller, some things to consider: de-cluttering, painting, and freshening the landscaping will make your house shine like a new penny and catch that ever elusive Buyer. It doesn't matter how old your home is, it is how well it shows off against the other competition.

Posted by Patricia Love on August 27, 2011

Homes sales and projections look favorable for Kamloops BC

The Bank of Canada held its trend-setting Bank Rate at 1.25 per cent on July 19^th, 2011. This marks the seventh consecutive policy decision in which interest rates have been kept on hold.

The Bank now expects the economy will grow 2.8 per cent this year. This was revised slightly from the previous forecast of 2.9 per cent. The Bank kept its 2012 and 2013 growth forecasts unchanged at 2.6per cent and 2.1 per cent respectively.

As of July 19^th, 2011, the advertised five-year lending rate stood at 5.54 per cent. The Bank will make its next scheduled rate announcement on September 7, 2011, and many experts had already been forecasting a rate hike at that time. (CREA 07/19/2011)

OTTAWA – July 15, 2011

Highlights:

• Sales activity climbed from May to June, with a big year-over-year gain reflecting falling demand in June 2010.

• Year-to-date sales remain in line with the ten-year average.
• The number of newly listed homes also rose from May to June.
• National housing market remains firmly entrenched in balanced territory.
• National average price still being skewed upward by the value of sales in expensive Vancouver neighbourhoods, with price gains in other markets providing additional loft.

Seasonally adjusted national home sales activity rose 2.6 per cent in June 2011 compared to the previous month. Two-thirds of local markets posted month-over-month gains in June.

Activity remained stable in Toronto while declining slightly in Vancouver and the Fraser Valley. Major markets that saw gains compared to May included Calgary, Montreal, Ottawa, London, Hamilton, and Victoria.

“Canadian housing demand remains resilient, thanks to low interest rates, job growth, and home buyer confidence in the economy,” said Gary Morse, CREA’s President. “That said, local housing market trends often differ from national trends, so buyers and sellers should consult their local REALTOR® to understand how the housing market is shaping up where they live.”

“The Canadian housing sector remains on a solid footing,” said Gregory Klump, CREA’s Chief Economist. “The rise in monthly home sales activity at the end of the second quarter, upbeat business sentiment and hiring intentions, and signs that the Bank of Canada is in no rush to raise interest rates bode well for home sales activity and prices going into the second half of 2011.”

The national average price for homes sold in June 2011 was $372,700, up 8.7 per cent from the same month last year. The national average price is becoming less affected by the overall number of sales in some expensive Vancouver neighbourhoods, but is still being pitched higher by the value of those sales.

http://creastats.crea.ca/natl/

So what does this mean for the average person? Quite simply our market is proceeding slow and steady, for home buyers this means that they are buying in a buyer’s market in our area but this might turn into a balanced market once the financial markets stabilize. There is always a silver lining, especially in markets outside of Vancouver, if the banks decide to keep the current lending rates it means that our local economies will still have growth. Our housing market will remain the same for a while, offering great opportunities for first-time home owners to get into the market, after all real estate is I think always the best investment. Kamloops average home sales are $306,000.00 for 2011 so far.