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John E. Smith Realty Sudbury Limited, Brokerage's blog

Over-priced Listings

Every day, on the Sudbury MLS system, we see overpriced listings. The cause could be one of many reasons, so over the years I’ve kept track of a few… So here we go!

Often the seller has high expectations, and it’s usually tied to a property they saw listed for sale and they felt their property was similar. They think “so this must be the price”. However, listings are not what we use for appraisals; its sales. What did someone pay - now it's a comparable!

Conditions in an Offer

Real Estate in Sudbury seems to have picked up the last few weeks, which can only mean one thing… The Spring Market is upon us! With the number of home sales likely to take place over the coming months, I thought this was a good time to go over conditions in an offer.

The Spring Market SPP

Lately, I’ve increasingly been running into something on the homes I have been showing to prospective buyers - the SPP (or SBP). An SPP is an offer that has been accepted on a particular house, conditional on the Sale of the Purchaser’s Property, hence the SPP, or Sale of Buyer’s Property (SBP). They are two names for the same thing, and it is something that is very common in the run up to the Spring Market.

Why is my house not selling?

I am often asked why a house has failed to sell. Invariably, it always comes down to one thing – money! Whether it is price, utility costs, or condition of the home, it is a simply a matter of dollars and cents…

It’s hard to imagine that we’ve reached a point where property taxes are directly impacting the real estate market in Sudbury. What was once a relative afterthought, property taxes are now front and centre. “How much is the asking price and what are the taxes” go hand in hand as the most asked questions these days.

How High Should I List?

When we as Realtors assess the most difficult part of our work day, it usually falls to one item - convincing the sellers to list their home at the proper price. Selling a home isn’t a fishing trip where we cast a line out and try our luck! It’s about selling the home. 

A seller’s biggest fear is the thought of selling to too low. Sellers imagine leaving thousands of dollars on the table. We hear lines from worrisome sellers every day.

When to Sell

The best time of year to sell your home is often hotly debated. Ask fifty Sellers and expect most to agree on mid-to-end of June when the grass is greenest, and the flowers are in bloom. I can see right now that you agree, but actually this is about the most difficult time to sell.

Buying your first home in 2018?

We are a few weeks into 2018 now, and I have already been contacted by a few new clients who have made it their goal to make their first home purchase in 2018. This is certainly a big step, and they have expressed a lot of confusion about the process, as well as many questions about the path they should take to accomplish this goal. I have therefore thought this the perfect topic for our first blog post of the year!

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