Recently your home for sale on MLS® didn't sell, now what?

1. The number one reason a listing doesn't sell is over pricing. Agents who willfully accept overpriced listings (or worse, “buys a listing” with a ridiculously unattainable pricing strategy) does no one any service, least of all you.

2. Hiring the wrong Realtor. You need a FULL TIME, experienced Realtor to be able to advise, negotiate and respond to changing market conditions.

3. Bad marketing. Did the Realtor you hired post 10 pictures on the MLS? Did they have more on their site? Does your Realtor actively market in the area where your property is located? Did your Realtor post your listing on Craigslist regularly?

4. Bad tenants/lack of access. Do you have a tenant who won't let you or your Realtor see the property?

5. Property is not Market Ready. In this market your property needs to be looking its best to get an offer. If your home is cluttered or messy most buyers (they can be finicky in this market!) will pass you by.

6. Low Commission. Realtors are motivated by financial incentives. If you are not offering a sufficient SELLING commission to buyers agents they may not prioritise your listing. This could lead to possible missed showings making it difficult to determine what is the cause of a poor response from the market.


How we can help!

Good clean homes priced right and given proper MLS® exposure will sell regardless of listing Broker commission.  Our listing fees start at $2,950 for homes up to $500,000 plus buyer’s agent fee and include: FULL MLS® exposure, FULL Realtor cooperation, MLS.ca® and multi picture tours. Switching to this Discount Realty business model in August 2005 (after 14 years with RE/MAX®) has allowed us to sell more homes then 95% of all FVREB Realtors in 2006, 2007, 2008, 2009, 2010, 2011 and 2012!  The results speak for themselves.  We also offer you 22+ years Real Estate experience in the Surrey/Langley areas, so you can be assured we will get the job done and look after your best interests - - at all times. 

Still skeptical? Heard otherwise? Call us today for the honest facts.  Add it up, the right price, commission rate and Realtor can make the difference.  Call or click here today for a free evaluation.

I just finished uploading this Townhouse for sale, 53 15871 85TH Ave, Surrey, British Columbia

HUCKLEBERRY 3 bdrm, 2 full baths for under $300K!! Great family orientated complex ideally located in Fleetwood mins to shopping, transit, rec centre, library and much more. Unit is at the not on street and backs on to treed greenbelt for privacy. Features incl ensuite with dble sinks, bright open "great room" layout on main flr, laminate flrs, new carpets upstairs, fresh paint, deep dble tandem garage and maint fee $210/mo. Wont last...HURRY!

I just finished uploading this House for sale, 6451 185A Street, Cloverdale, British Columbia

The Danbury by Parklane Homes! Spacious 2 level with finished bsmt (no sep entry) and detached DOUBLE garage on LARGE fenced corner lot with lane access. BRAND NEW ROOF 2011, ext paint 2010. Bright open plan with lots of windows, 9 ft ceilings, laminate flrs, fresh interior paint, 3 bdrms up + open loft/den, lrg master bdrm with walk in closet, lrg recrm + bdrm in bsmt. Clean and well maintained...HURRY!

I just sold this House at 11098 CALEDONIA Drive, North Surrey, British Columbia Bolivar Heights.

View this recently sold House or see all my home sales

I just sold this House at 14621 60TH Ave, Surrey, British Columbia Sullivan Station.

View this recently sold House or see all my home sales

I just finished uploading this Condo for sale, 210 910 5TH Ave, New Westminster, British Columbia

REDUCED 50K!! Bright spacious 2 bdrm corner unit with large balcony, fresh paint, brand new carpets and lino, refinished doors and low maintenance fee which includes property tax, heat and hot water. Small pet ok, no rentals, 40+ age restriction and 35% down payment required. A great low price in a great area of New Westminster blocks to transit, shopping and Safeway or IGA, skytrain and parks!

I just finished uploading this Townhouse for sale, 159 6299 144TH Street, Surrey, British Columbia

ALTURA in the heart of Sullivan Hills! This mint condition END UNIT features 3 bed/2.5 baths, 1865 sqft, open/spacious floor plan featuring extra windows (end unit), granite counters with breakfast bar, upgraded stainless steel appliances, laminate flooring, lrg deck off kit, and a walk-out bsmt with lrg recroom and R/I for full bath, large EXTENDED fully fenced b/yard, RARE DOUBLE SIDE BY SIDE garage. The 7800 sqft club at 'Altura' features an outdoor pool, hottub, 2 guest suites, party room, yoga studio, theater, gym and more. Walking distance to a brand new elementary school and high school, YMCA, Bell Center and Bus. This unit is a must see.... HURRY!!!!

We are proud to announce that this Nov 24th, 2:00 PM to 4:00 PM we will be hosting an Open House at 16388 85TH Ave in the Fleetwood neighborhood, Surrey. This is an opportunity to visit this excellent Townhouse for sale in beautiful Fleetwood .

Please come with any questions you may have. In the meantime you can take a virtual tour of this Fleetwood Townhouse for sale.

As always please do not hesitate to give me a call at 604.595.2896 if I can answer any questions before the open house, or if you would like to book a private showing.

Scott Williams
Fair Realty

We are proud to announce that this Nov 25th, 1:00 PM to 4:00 PM we will be hosting an Open House at 10415 DELSOM Crescent in EQUINOX in the Nordel neighborhood, N. Delta. This is an opportunity to visit this excellent Townhouse for sale in beautiful Nordel.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Nordel Townhouse for sale.

As always please do not hesitate to give me a call at 604.595.2896 if I can answer any questions before the open house, or if you would like to book a private showing.

Scott Williams
Fair Realty

I just finished uploading this Condo for sale, 202 20630 DOUGLAS Crescent, Langley, British Columbia

THE BLU! Great location in the heart of downtown Langley. Bright modern 2 bdrm + den corner unit with 2 full baths incl dble sink 5 pc ensuite, 9 ft ceilings, granite counter tops, laminate & tile flrs, walk in laundry room, seperate den and lrg balcony. Low $220 maint fee incl hot water.. HURRY!

"Improved housing demand" on the horizon

After six months of stability during the first half of 2012, property sales in the Fraser Valley dropped by 40 per cent in two months. Why the sudden change? How long will the slowdown continue? For answers, we turned to BCREA Senior Economist Cameron Muir.

Q: For six months, our sales to actives listings ratio in the Fraser Valley ranged from 13 to 15 per cent. It dropped to 8 per cent last month. What happened?

A: Home sales in the Fraser Valley began to trend lower at the beginning of the year, with a more significant downturn taking place in August and September. While there is no proverbial smoking gun, there are a number of factors at play in the market:

• The fourth round of high-ratio credit tightening that began in 2008 was implemented in July. All of the credit loosening by the federal government in 2006 has now been pulled back. The big change in July was reducing maximum amortizations from 30 to 25 years. This was the equivalent to a 100 basis point increase in the interest rate for a first time buyer. All four rounds of credit tightening have been followed by a marked decline in BC MLS® residential sales within three months. Sales declined by 11 per cent three months following first round, 25 per cent following the second, 12 per cent following the third, and 19 per cent two months after the most recent round.
  
  
• An unusual spike in high-end detached home sales in 2011 was not repeated this year, impacting both sales levels and average price statistics.
  
  
• Little gains in equity and real estate markets have stalled growth in household wealth, limiting some of the positive spinoffs of the wealth effect such as second home purchases.
  
  
• A negative spillover from an anemic 0.8 per cent employment growth in BC last year may also be exacerbating the lull in consumer demand.

A: To date, seasonally adjusted home sales look remarkably like 2008. However, the financial crisis was just beginning to bubble to the surface in September 2008; homes sales are unlikely to fall to levels recorded October 2008 through January 2009.

Q: How long do you project this slowdown to continue?

A: It's impossible to ascertain exactly when a market turning point will occur. However, per capita home sales are currently underperforming the economic fundamentals. I expect unit sales to rebound back to 10-year average levels over the next few quarters. There are three main reasons we can anticipate improved housing demand:

• BC employment growth was 1.9 per cent through August this year, double the 0.8 per cent growth rate in 2011. More importantly, full-time employment has increased by 3.2 per cent, while part-time employment has fallen 2.5 per cent. This means many part-time jobs are being rolled into full-time work, a strong indicator of business profits and confidence. In Metro Vancouver, full-time employment has increased at a 3.5 – 4.0 per cent pace so far this year, the largest growth rate since the middle of the last decade.
  
  
• Mortgage interest rates remain at or near historic lows.
  
  
• The population base is expanding. The latest migration figures indicate 11,500 international migrants landed in BC on a net basis during the second quarter, most of whom will reside in Metro Vancouver.

Q: What are you projecting the effect will be on home prices? Why?

A: Home prices are likely to remain flat over the medium term, with some relatively small declines (2 to 5 per cent in the Benchmark) in some markets and product types. Buyers to balanced market conditions are likely to be commonplace over the next 18 months. However, I do not expect any substantial price declines in the absence of a macro-economic shock. Large price declines are typically the result of household financial disaster writ large. The typical culprit is a deep recession. I do not know of any reputable economist in Canada that expects a deep recession ahead.

Cameron Muir is BCREA's Senior Economist. His next forecast will be released at the end of October