Translate

Tuesday, January 26, 2021

The Wild East

It's been way too long since my last Blog!! I won't go on about 2020 being "unprecedented" again like everyone else... that's old news. Let's get on with it and talk about 2021! 

We are experiencing a serious shortage of available listings in NS, significant inter provincial immigration/influx of out of province buyers has created a Sellers Market and there aren't enough properties to satisfy the demand. What does this mean for you? Let me break it down. 

If you are a Buyer - properties are selling fast, often in competing offer situations, and while we haven't gotten to the point where most buyers are offering without standard conditions like inspections and financing... there have been winning offers that omitted these! You are going to need a proactive agent searching for off market homes and one that is the right mix of aggressive and methodical. Choose wisely, and be ready to jump when you see a spot you like. 

If you are a Seller, be mindful of pricing. While it would seem you can ask whatever you like in this market, buyers are savvy and making sure you price the property just right will often garner a stampede of qualified buyers and more than a few offers to consider! Keep in mind that you may become a buyer very soon after you list and speak to your agent about covering you in case you cannot find something suitable to purchase in the future! 

Strategic planning regarding when you go to market, what (if any) your competition will compare like, and what your next few steps are moving forward is key! 
Need a more specific plan to your exact requirements?

Give me a call, I can help.

Megan