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Hello Clients,
Did you know that major customer review sites get hundreds of millions of views each month?
It’s hardly surprising when you think about it.
After all, when most people are looking to buy something, or hire someone, they tend to trust a recommendation more than an advertisement. That’s true whether you’re shopping for a car, restaurant, dentist, or… real estate agent.
In fact, referrals from valued clients are one of the main ways we build our business.
They are something we take very seriously. We work hard to be “referral worthy” by providing excellent service and continuing support — not just during a client’s move, but in the years afterward. This e-newsletter is just one of the many ways we do that.
So, the next time you come across a neighbour or friend looking for great real estate agents, we hope you will feel confident giving them our names.
We would really appreciate it!
And, please allow us to return the favour. The next time you’re looking for a real estate-related professional — such as a contractor or tradespeople — reach out to us for a referral from our network. We are always happy to help.
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Matthew Wiebe, Broker
Beacon Real Estate
wiebegroup@shaw.ca
403-585-1171
Certified Condo Specialist and Seniors Real Estate Specialist®
Jack Wiebe, REALTOR®
Beacon Real Estate
jackwiebegroup@shaw.ca
403-680-6220
Seniors Real Estate Specialist®
wiebegroup.net
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Calgary Real Estate Board Update
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Calgary House Market Report
Sales activity has behaved as expected through the start of 2023 and slowed by 43 per cent over last year’s all-time record-high performance in the first quarter . The steeper decline in the first quarter was expected, given the surge in sales last year, as purchasers were eager to enter the market ahead of expected rate gains . While no further rate gains have occurred so far this year, the higher lending rates and limited supply choice are contributing to some of the pullbacks in sales . Nevertheless, despite the decline, sales activity has remained well above pre-pandemic levels thanks to recent gains in migration coupled with a stronger employment market . The most notable challenge in the market has been related to supply levels . New listings were expected to ease as higher lending rates would make it more difficult for the move-up buyer . However, the pace of decline in new listings has exceeded expectations . New listings in the first quarter declined by 40 per cent, preventing any significant shift in the supply levels given the relatively strong sales . Inventory levels in the city averaged 2,814 units in the first quarter, 21 per cent lower than last year’s levels and over 42 per cent below long-term trends for the first quarter . With a sales-to-new-listings ratio of 71 per cent and a months of supply of under two months in the first quarter, conditions continue to favour the seller . Exceptionally tight market conditions early last year drove significant price gains throughout the 2022 spring market, peaking at $544,733 in the second quarter . While supply demand balances remained tight throughout 2022, prices did trend down over the third and fourth quarters, somewhat adjusting for the rapid rise earlier in the year . Further tightening in the supply-demand balance in the first quarter was enough to stop the downward price trend as the quarterly benchmark price rose over two per cent in the fourth quarter to $531,200 but remained below the Q2 high . Some of the fluctuations in price were expected this year, given what happened last year . However, price growth to date has been stronger than expected . Given the limited supply currently on the market, we could expect to see some stronger price growth through spring, potentially supporting a modest annual gain in 2023 .
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Surrounding Area
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Creating the “Wow” Effect in Buyers
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It’s incredible how quickly people form first impressions. According to some studies, people can develop lasting opinions within seconds of seeing someone, something, or someplace new.
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That’s why, when preparing your property for sale, it’s important to do everything you can to make sure it looks attractive to buyers.
Nowhere does this first impression phenomenon play out more than when a buyer first enters your home. The moment they walk through your front door, they’ll look around, take in the scene and form an impression.
Ideally, you want that crucial first impression to be, “Wow. This place looks great! I can hardly wait to check out the rest of this home.”
So how do you ensure that happens?
One way is to play the role of a buyer yourself. Walk through your front door as if you’ve never been inside your home before. Pretend you’re a buyer and look around. What do you see? What impresses you most from that perspective? What do you notice that concerns you?
Pay attention to anything distracting: walls in need of painting, cluttered furniture arrangements, too much or too little lighting. This exercise will give you immediate ideas for improving — or Home Staging, as it’s called in real estate — the view from the front door foyer. For example, you might discover that a weekend painting project along with some decluttering, would make a big difference in how your home looks from this vantage point.
Typically, it doesn’t take much work to make these types of changes and improvements. But, when you do, your home is likely to look more impressive to buyers as they walk through your front door. That’s an impression that’s likely to linger as they view the rest of your property.
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Cleaning Tips for Instantly Improving Curb Appeal
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As you may know, curb appeal refers to how your property looks from the street, where potential buyers first see it. Your home’s curb appeal can have a big impact on the sale of your property.
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In fact, it’s not uncommon for a buyer to drive by a listing, rather than stop, because they don’t like what they see.
So, how can you improve your home’s curb appeal quickly? One way is to do some outside cleaning.
Start with the main entryway. Wash down the front door and sweep (or power wash) the front steps. It only takes a few minutes, but you’d be surprised by the impact it can have. Sweep or power wash your walkway too and you’ll improve the overall look of your home — sometimes dramatically.
Clean your front windows to brighten the look of your home’s facade. It doesn’t have to be an arduous chore. In fact, there are washing products available that attach to your garden hose. You don’t even need a ladder! Ask your local home improvement retailer for recommendations.
If you have hedges and shrubs, give them a trim. To keep your trimming level, use a wide board, or even a piece of cardboard, then cut to the desired height. Pull off any dead leaves or branches. Of course, also mow the lawn!
Finally, inspect your property from the street. Can you see anything else you can do to quickly improve the look? Do you notice anything that is unsightly or distracting, such as garbage bins that could be relocated? |
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How to Deal with a Competitive Disadvantage
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If you’re selling your home and there are other listings in your area, buyers will naturally compare your property to those other listings.
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Is there something about your home that you’re concerned will be seen as a competitive disadvantage? For example, do you have a small kitchen or fewer bedrooms than most other homes in the neighbourhood?
There are a few things you can do to compensate for such disadvantages.
First, highlight the advantageous features of your home. Chances are, there are characteristics that make it stand out. For example, the look and style of your home may be cozy and enchanting. Or, you might have a desired feature, such as a terrific view.
Next, do everything you can to ensure your home makes the best impression possible to buyers. Remember, most buyers will only see your property once. So, pull out all the stops. That means decluttering, cleaning, painting, getting any needed repairs done, and staging effectively.
Finally, make sure you set the asking price strategically. That doesn’t necessarily mean it needs to be low. But, it does mean that the price should reflect the market value of your home. |
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