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Qualicum Beach, BC Canada
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There are No Single Family Homes for Sale

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Affordability is the Challenge as 2020 Ends.

  • Photograph of Nancy Smith
  • Qualicum Beach REALTOR®
  • Published: Dec 30th, 2020 at 2:28 pm

The reality is, Realtors want to complete sales, this is how they get paid. Higher prices do not substantially increase the commission, so there is very little incentive to manipulate the market. When ten offers come in on one property, nine Realtors go home empty handed, dealing with frustrated buyers, to begin the search process all over again.

Those nine disappointed Realtors have informed, coached and provided comparables for buyers to make realistic offers. But, if one buyer believes a property fits their needs, they will up the ante to block other buyers. They can offer more cash, better terms and conditions, and often dismiss clauses that would be necessary for buyers needing to qualify for a mortgage.

Single family homes in our area are too scarce, and yesterday, as December /2020 closes, there are only 19 available, none below $600,000. As soon as any liveable home pops onto the market, the seller is inundated with showing appointments, and often the home is sold within hours.

What I am trying to suggest, in today's market, the most likely chance one has of buying a home, is working with a Realtor. For example: a home was listed in a nearby market for $450,000, requiring completion of renovation work, SOLD for $70,000 above asking price. The same effect is happening on Million dollar oceanfront homes. A Realtor will frame current value based on immediate information.

A Realtor is trained to help you.

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