Sumer is icumen in
Spring has sprung, the grass has riz – and perhaps
you’re wondering where all the listings iz.
Well, we can decide that the weather hasn’t anything to do with it. Our drawn out winter isn’t responsible. The rather sporadic spring isn’t to blame. And the market isn’t going to be affected by either
a hot summer or a cool one (and there are forecasts of both!)
No, it’s just the way things are in real estate. Sometimes you can’t give
the stuff away and at other times you can’t find something for love nor
money.
But does it matter? Should
you stop looking? Should you let supply and
demand dictate what you purchase and how much you pay? Should you simply
grab what’s there at any price? Should you panic
because there’s too little – or even nothing – to choose from?
As an Exclusive Buyer Broker (which means I no longer list properties
but work solely for buyers), I’ll advise against it.
Your overriding concern should always be to get value for your money,
and this is rooted in the idea of a Comparable Market Analysis – an objective
look at what else your money can buy, how much similar properties have recently
sold for, and what prices didn’t result in a sale – information that reduces
your risk of paying more than you need to do.
But if you’re also looking for something that’s
in short supply, you can improve your chances in other ways.
A starting point (unless you already have the necessary cash in hand)
is to get yourself not only pre-approved for a mortgage, but also run through
a credit check – which may not give you as good a rating as your bank requires!
Then you need to be in a position to act quickly. You should give yourself
some flex time so you can rush out and look at what may be your “one best
buy” before someone else beats you to it.
And perhaps not the least, you shouldn’t just do the work yourself. You
should attach yourself to an agent, let him or her know exactly what you
want, and promise them the sale even if you run across it on your own by
checking the ads or fortuitously driving around.
In any case, don’t ever think the market is always the same. What does or doesn’t exist today may or may not be
there tomorrow.
So, in this respect, it isn’t different from the weather after all. It’s changeable.
If you'd care to call and discuss any of these
points with me, I'll be only too pleased to hear from you.
Thank you for your time.
Duncan Pollock, Real Estate Broker,
427 Gate Street, Niagara-on-the-Lake, Ontario, Canada L0S 1J0
Tel: 905-468-3154 Fax: 905-468-3812 Cellular: 905-704-9037
e-mail: duncanpollock@sympatico.ca
Note: E-mail
addressed changed as above on Nov 3 2007
website: http://www.duncanpollock.com