Yesterday I asked “When will [the listing surge] start breaking….?” Maybe it happened today. (Or maybe not…:-) )
There were 185 listings today, and 103 sales, for a vastly improved sell/list of 55.67%. (When’s the last time a 55% sell/list was a vast improvement?!)
Inventory planed out at 8,200, while over 90s hit 2,368, or 28.88%.
King Albert is off the market. I originally posted this listing as a Coquitlam house witha hot price. We intentionally priced it very sharp, in an effort to generate the maximum amount of activity and top dollar for our seller. We received multiple offers with $33,000 range between low and high. Inspection revealed some hidden damage to the house that scared some potential buyers. Once we learned about the problem we had to take action. When a buyer gets an inspection and elects to drop his offer the seller doesn’t always get to see the inspection, so isn’t always sure what to disclose; yet, if the seller doesn’t discose a defect of which they are arguably aware, they could be committing a tort. We had to have some tradesmen perform inspections, and have the seller re-do the property disclosure statement in order to acheive full disclosure(and we did exactly that).
Buers and the seller still disagreed on price, but I’m happy to say that we have finally sold the house after a great deal of work. Real estate board interpretations of privacy legislation forbids me reporting the actual sale price, but it sold for a very good price. Anyone who wants to know the actual price can contact any Realtor on a one to one basis and find it out (“any Realtor” being the operative term).