We have NEVER seen a market like this. We have seen Seller's markets with Multiple offers but NEVER like this.
Normally the Fraser Valley Real Estate Board carries anywhere from 10,000 to 11,000 listings at any time. We are now down to only 5000 listings for the entire Fraser Valley. This with low interest rates has created a Buying Frenzy like we have never seen before.
There has absolutely NEVER been a BETTER TIME TO SELL!! NOW IS THE TIME TO SELL!! No one knows how long this market will last.
For an Example ; On November 5 of this month, a brand new listing came on the market in Mossey Estates. I have personally lived in this neighbourhood and enjoyed it very much. As I always try to do, I had my clients in to view the home on the very FIRST DAY it hit the market.
Not to my surprise, I along with another 15 realtors showed up to view the listing. One by one, in 15 minute intervals a parade of potential buyers walked throug the home. The house was a nice West Coast style basement home 2750 sq ft, not much updating over the 39 yrs, on a 7400 sq ft lot right beside the dog walking park with Power lines overhead. The next day, the Listing Realtor shared with me, he had another 17 showings booked.
This property sold in 5 days. The list price was $559,800 and with multiple offers SOLD for $41, 700 OVER ASKING PRICE! Sold price $601,500!!
Just think how long it would take to earn an extra $41,700 after taxes? For the people willing to take action and SEIZE THE DAY..........the rewards are HUGE.
Real Estate Professionals, such as myself have never been more in demand in this fast frenzy moving market. This is where Experience has never been more essential when hiring a Realtor to represent the sale of your home. If not done correctly, you could end up selling your home to more than one buyer and losing everything.