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        <title>Victoria &amp; Vancouver Island Real Estate Blog</title>
        <link>http://www.ronneal.com/blog/2015-03/</link>
        <description></description>
<item>
    <guid>https://www.ronneal.com/blog/vancouver-house-sells-for-567k-over-listed-price.html</guid>
    <link>https://www.ronneal.com/blog/vancouver-house-sells-for-567k-over-listed-price.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>Vancouver house sells for $567K over listed price</title>
    <description> <![CDATA[ 
A recent example of an underpriced house that set a new price record


House at 65 E 26th Avenue was originally listed at $1.6M, sold for just under $2.2M.


CBC News Posted: Mar 27, 2015 11:53 AM PT Last Updated: Mar 30, 2015 6:08 AM PT





A Vancouver real estate agent who has just sold a home for $567,000 over its published listing price says that underlisting is an accepted selling strategy in the real estate market.


If the products right, the timings right and the inventory is right, its the right strategy, Paul Eviston told CBC News.


Nevertheless, Eviston said, he would hesitate from using the term underlisted in the case of the home at 65 E 26th Ave., originally listed at $1.6 million, which sold for $2,167,000.


I wouldnt call it underlisted, he said. I would call it strategically listed to garner the interest level that we wanted to get the result that we got.


Sitting two blocks west of Main Streetnbsp;mdash; both a physical and psychological dividenbsp;mdash; the home is in an area where prices often exceed $2 million, but the selling price was still a record high, Eviston said.


It was the highest price per square foot ever achieved for an East Vancouver home, he said.


We did some very significant marketing on that home. We did a lot of different things to get the buzz going on it.


The listing price attracted around eight interested buyers, Eviston said. That quickly dropped to three serious buyers when it became clear no one was going to secure the house at or near its asking price.


Eviston stands by his strategy on the property, and in the end, he said, its the market that dictates price.


We definitely felt that the value was somewhere between where we listed it and where we sold it, he said. Pricing it where we did was a strategic position to take in the market, and [we felt] that the market would no doubt dictate what the value of the home was.


nbsp;A few more points on pricing from Ron with RE/MAX


Attracting Buyers is the name of the game. As a Seller, you have two goals:




To get the most money possible 


To sell as quickly as you can. 




Be realistic. Price is the number one factor that most home buyers use in determining which homes to view. Although the price is set by you, the Seller, the value of the home is determined by the Buyer. Dont allow your enthusiasm to warp your judgment and lead to overpricing - a mistake you cant afford to make.


Here are some factors to consider to help you sell your home. This information is not all-inclusive and does not replace the value of anbsp;personal consultation.


What Affects Your Asking Price


Urgency. How quickly must you sell? 


Competition. Are there just a few or many homes available in your price category and area? 


Available Financing. Does your home come with an assumable loan that is below todays rate? What are the current home loan interest rates? What financing alternatives are available for your home and area? 


Competitive Market Analysis. Do you know what similar homes in the area sold for within the last six months


nbsp;Expenses. What are your selling costs? 


What Doesnt Affect Your Asking Price?


Original Cost. Your price is determined by todays market. 


nbsp;Investment in Improvements. Potential Buyers will evaluate your home (i.e. wallpaper and carpet) and may include the costs to remove or replace in their Offer. 


The Cost to Build Your Home Today. A replacement value is determined for insurance purposes only. 


Personal Attachment. Prudent Buyers purchase based on their emotions, not yours. 


Neighbours Claims. Dont listen to what your neighbours tell you is the fair market value for your home. Other homes in your neighborhood may not be as similar as you think. Also the terms accepted by both the buyer and seller greatly affect the sale price. 


What Happens to an Overpriced House?


Youll Help Sell the Competition. The correctly priced homes look even better if yours is overpriced. Most Buyers are competitive shoppers. 


Your Home Will Stay on the Market a Long Time. At any time there are many Buyers waiting and watching for new listings and a trickle of new Buyers coming into the market. Did you know that 80 of your potential Buyers will see your house in the first one to two weeks? If you dont sell them then, it can take six to twelve months to replace them with an equal number of newcomers.nbsp;


Youll Lose Market Interest and Qualified Buyers. Serious Buyers use the value, quality and price of similar properties as deciding factors. 


A Negative Impression is Created. People will wonder why your house is still on the market - theyll believe something is wrong with your home. 


You (The Seller) Would Lose Money. You may have to make extra mortgage payments as well as incur taxes, insurance and unplanned maintenance costs. 


You (The Seller) May Have to Accept Less Money. Studies show that the longer a house is on the market, the greater the discount off the list price. Often a seller will accept less than fair market value in order to sell because of an approaching deadline. 


There is the Potential for Appraisal Problems. The Appraiser from your Buyers lending institution must agree that the home is worth the asking price. If the Appraiser believes the price is inflated, the loan may not be approved. 


Look to Ron Neal and The Neal Estate Team withnbsp;RE/MAX For The Truth and The Answers You Need


nbsp;As you can see, there are a multitude of factors that determine the asking price of your home. Finding this price can be a difficult task. That is why thousands of satisfied homeowners, like yourself, turn to experts. Ron Neal and The Neal Estate Team will tell you the truth, what you need to hear, not what we think you want to hear. We have the tools necessary to compute the fair market value of your house quickly and accurately while allowing for personal considerations (such as the date by which you must sell). Ron Neal amp; The Neal Estate Team with RE/MAXnbsp;Alliance will also confidently answer your questions about listing, pricing and showing.


Our goals are the same as yours:




To get you the most money possible; 


To sell your home as quickly as you can; 


To make selling your home a pleasant and profitable experience for you. 




When You Want to Price Your Home to SELL FAST for TOP DOLLAR


Count on Ron Neal amp; The Neal Estate Team of RE/MAXnbsp;Alliance


www.VictoriaHouseValues.com 
 ]]> </description>
    <pubDate>Mon, 30 Mar 2015 15:20:00 -0500</pubDate>
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    <guid>https://www.ronneal.com/blog/a-young-man-is-suffering-and-needs-our-help-to-get-his-life-back.html</guid>
    <link>https://www.ronneal.com/blog/a-young-man-is-suffering-and-needs-our-help-to-get-his-life-back.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>A young man is suffering and needs our help to get his life back...</title>
    <description> <![CDATA[ 
Please read Marshalls story and join us in helping: Marshal Huska is a 22 year old man with multiple brain masses. This is his story:


I have searched long and hard through Canada, and have talked to multiple neurosurgeons, but none of the surgeons in Canada have even referred me to someone who has/can perform the deep brain surgery needed to excise the tumors. Because they are located directly in the center of my brain, on the pineal gland, a biopsy is out of the question. The surgery is called a Pineal Resection, and is considered one of, if not the most difficult neurosurgeries possible. Hence the astronomical cost. Because of a myriad of symptoms, most of my time is spent laying in bed, as it is too difficult to even accomplish daily tasks. While there is high risk of complications while ldquo;under the kniferdquo;, I am willing to do/risk anything to get my life back. Im 64 and my weight has dropped down to just over 120 lb because of the nausea and vomiting. I get excruciating migraines and have some degree of headache about 87 of the time. Ive developed severe tremors and have noticed cognitive symptoms as well. It also affects my vision in multiple different ways. I was diagnosed in 2012, and have been on a long, hard battle ever since. I am now working with Cedar Sinai Hospital and the Skull Base Institute, which specializes in these types of deep-brain operations, and uses state of the art robotic arms (endoscopic surgery) to minimize the invasiveness and damage that traditional open brain surgery requires. Unfortunately it is not a surgery that Canada is able to perform because we do not have the technology here. As a result, they are also not willing to pay for it. Other pineal tumor patients have legally fought the healthcare system and failed to get it paid for. The total amount of the surgery and related costs, will be about $221,000 USD. This will cover the surgery, current retainer/travel fees, and recovery costs as well.


Our officersquo;s Realtors of RE/MAX Alliance (Victoria) have contributed $10,000 (to-date) and were reaching deeper into our pockets for more. Marshall is the son of one of our Realtors. Please click here now to help, every dollar counts: http://www.youcaring.com/medical-fundraiser/help-marshal-get-neurosurgery-/302416. Benefit concert here in Victoria, BC: Bands: Ellice Blackout Isobel Trigger This Day Burns Master of ceremonies and magicks: Steve Hignett www.rockabillymagic.com Advance tickets are now available at Wolf/Sheep Arthouse and Amplify Hair Studio for a minimum donation of $10. http://allevents.in/mobile/event.php?event_id=1537244106542485 nbsp;
 ]]> </description>
    <pubDate>Sat, 14 Mar 2015 15:51:00 -0500</pubDate>
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    <guid>https://www.ronneal.com/blog/one-stop-shopping-neal-estate-team.html</guid>
    <link>https://www.ronneal.com/blog/one-stop-shopping-neal-estate-team.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>Buy and Save with The Neal Estate Team</title>
    <description> <![CDATA[ 
nbsp;  FREE Legal Fees and Home Inspection Costs One Stop Shopping with The Neal Estate Team* Use Our Preferred Contacts for Financing, Lawyers, and Property Inspectors and we will pay for those services on your behalf Herersquo;s what our clients are saying... rdquo; I purchased an amazing home with the Neal Estate Team and I am not only thrilled with the professional and top notch service, my appraisal for the financing, Property Inspection, and a my legal fees were taken care of. Ronrsquo;s one stop shop program saved the day. Irsquo;m so Happy Thank you Ron amp; your team This made a huge difference with a tight budget and I canrsquo;t wait to move inrdquo; nbsp;- DB **With qualifying purchase with The Neal Estate Team as your Exclusive Buyers Agents. Together with your fixed term qualifying mortgage arranged by one of our approved Mortgage Specialists and Home Inspection by one of our Approved Inspectors. Legal Fees Excluding Disbursements and Title Insurance. Qualification and limit of fees paid for each transaction to be evaluated an verified prior to entering into offer to purchase. *(Fees Paid By The Neal Estate Team subsidized by Mortgage Specialist)** nbsp;http://www.allvictorialistings.com/ Call us at 250.386.8181 to start your home search now and visit us online at: www.RonNeal.com  nbsp; nbsp;
 ]]> </description>
    <pubDate>Wed, 11 Mar 2015 15:37:00 -0500</pubDate>
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    <guid>https://www.ronneal.com/blog/ron-neals-candid-comments-victoria-real-estate-march-2015.html</guid>
    <link>https://www.ronneal.com/blog/ron-neals-candid-comments-victoria-real-estate-march-2015.html</link>
        <author>ronneal@remax.net (Ron Neal)</author>
        <title>Ron Neal’s Candid Comments on Victoria Real Estate for March 2015</title>
    <description> <![CDATA[ 
Ronrsquo;s Market Report Video Sales continued to gain momentum with a 30 jump in February over January with 542 homes sold. New listings continue to trickle in at a slower pace with the increase in sales bringing the net number of listings for sale at the end of February in Greater Victoria up to just 3,480 which is still lower than this time last year. The important ratio of sales to listings for our overall market in February was just 6.4 or a 6 frac12; month supply. We are presently in a balanced market overall with some areas, property types and price ranges leaning more towards a sellerrsquo;s market for the first time in several years As predicted last month, the net effect for us of reduced oil prices, interest rates and our Canadian dollar us here in Victoria is positive Watch for increased investor and non-resident purchase activity. Irsquo;ve got more than a dozen serious out of town buyers looking right now Lending practices have even eased up in some cases and first time buyers are taking advantage of the very low interest rates too. Whether buying or selling, for listing and sales information in addition to market interpretation specific to your area, please call 250.386.8181 or try our FREE Market Snapshot





Read on for Full Media release from VREB..... The following news was released to local media today: March 2, 2015, Victoria BC - The Victoria Real Estate Board today released its report on real estate activity in the Victoria area for February 2015. 542 properties sold in the Victoria region this February, a 31.6 increase compared to the 412 properties sold in the same month last year and a 54.4 increase compared to the 351 properties sold last month in January. The trees bloomed early in Victoria, and so did local real estate. February was a busy month with numbers closer to what we would expect to see in the spring season. Victoria Real Estate Board President says. 285 single family homes sold over the course of the month. Weve not seen that many single family homes sell in a February since 2008 when we tracked 295 transactions. Though buyers are already in spring purchase mode, the amount of available inventory may not be quite up to the pace. We continue to track the trend of higher year-over-year sales, and lower year-over-year active listings that we started to see in mid-2013. There were 3,480 active listings for sale on the Multiple Listing Servicereg; at the end of February, 7.7 fewer than the 3,770 active listings in February 2014. The Multiple Listing Servicereg; Home Price Index benchmark value for a single family home in the Victoria Core this time last year was $549,700. The benchmark value for the same home this month has increased by 1.33 to $557,000. The Board certainly anticipated an increase in sales for spring, but the increase weve seen exceeded my expectations, the president adds. The early spring combined with available low interest rates will likely create more demand for Victoria real estate as the rest of Canada digs out from winter. nbsp; nbsp; nbsp; nbsp; nbsp; nbsp;
 ]]> </description>
    <pubDate>Mon, 09 Mar 2015 15:44:00 -0500</pubDate>
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