I recently had a chat with one of our real estate agents and my son, Michael Webb on what he is currently seeing in the market.
Here’s what Michael had to say:
What are you currently seeing in the market?
It’s changing a bit however family homes and family properties remain very strong in the market. Taking a backburner are development sites because of cost of building due to what’s happening in covid market and people being wary about rising interest rates.
Do you think interest rates and the change in government will have an impact on the housing market?
I still anticipate to see strong demand for properties going forward as a lot of people sold late last year and early this year and there will always be a need for properties. Some of the things that might get affected are investment properties and development sites.
There are definitely still great opportunities to purchase property at the moment.
What advice do you have for people wanting to sell?
Presentation, make sure your house stands out from everyone else’s. You want your house to be top of mind and beautifully presented to get people through the home and gain that initial interest.
The more people through the home, means more bidders which tends to result in a better price.
For example, we had fantastic images for our Centre Road property in Vermont and have had nearly 50 parties through the property.
Also, make sure you have an agent that will work for you at every phase of the sale, at the open for inspections up until the negotiations.
What advice do you have for people wanting to buy?
Be strong with what you want to buy, go through the property, make yourself known to the agent that you’re interested, have a budget and stick to the budget.