Tuesday, August 31, 2010

Area Real Estate Sales Strengthen - But Buyers Remain Cautious

Area real estate sales reported through the MLS® system of the Georgian Triangle Real Estate Board during the month of August have rebounded strongly following disappointing sales in July. Sales on this last day of the month total $57 million have surpassed total sales for August 2009. 
Despite this positive level of activity, buyers remain cautious and are languishing over their purchase decisions forever fearful of overpaying should prices trend downward in the months ahead. Increasingly, we are seeing offers coming in well below the asking price.  Sellers are often offended by this but shouldn't be, it's just the nature of today's buyer(s) given the continuing uncertain economic and market conditions we face.
Typically the average list-to-sale price ratio for MLS® sales processed through the Georgian Triangle Real Estate Board is 95% provided the property is realistically priced.  An initial offer significantly below that will typically generate one of two results.  One the sellers will elect not to sign the offer back or two, the sign-back will be close to the asking price just to send a message.  Either way, this tactic creates a very adversarial environment for further negotiations and nobody wins.
Whether you are a seller or a buyer, it is imperative that you are working with a REALTOR® that can provide you with hard factual information regarding current market pricing.  Fact and accurate information based decision making are crucial in today's real estate market.  If we as professional  REALTORS® cannot provide this level of service to our clients then successful real estate transactions will elude, buyers, sellers and REALTORS® alike. 
To help you in selecting a REALTOR®  that will best meet your needs whether selling or buyer please refer to  my Home Cents Help Tip article "Interviewing Potential Realtors®."

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Royal LePAGE Locations North (Brokerage)

330 First Street, Collingwood, ON L9Y 1B4


Direct: 705-443-1037

Office: 705-445-5520 ext 230


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Rick relocated to Collingwood from Toronto in 1985 through a transfer with Goodyear Canada. In 1987 Rick was recruited by a major client of Goodyear’s, managing their Canadian business based in Barrie before moving to Chicago in 1992 as Vice President of Sales & Marketing. Upon returning to Canada in 1996, Rick ran an industrial products manufacturing company in Stratford, Ontario. In 1998 Rick returned to Collingwood with his two children. Rick is a licensed real estate Broker with Royal LePAGE Locations North in Collingwood and holds his MVA designation (Market Value Appraiser-Residential). He is an active volunteer in the community serving several years on the Board of Directors with the Collingwood Chamber of Commerce as Treasurer, 6 years on the Board of Directors for the Southern Georgian Bay Association of REALTORS® of which he is the Past President (2008) and currently serves on a committee with the Ontario Real Estate Association. Rick is a diverse executive manager with extensive experience in strategic planning, manufacturing, finance, human resources and quality assurance management.