Anatomy of My Own Move Part 2: Preliminary Search

I don't want to bore people with statistics so I will try to keep it brief. I am not any different than anyone who calls me about purchasing a property. The first step is to see what is available on the market.

I was marketing to a large chunk of our search area. I saw the statistics on a daily basis and had just finished working with a purchasing client within the area. I clearly remember the day in late February when I did a search for the Levi-Creek/Meadowvale Village/Olde English Lane: 400,000 to 600,000 Detached, 4 bedroom = 76 houses available. This did not come as a surprise. We were 5 months into the recession and October 08 through February 09 were dismal sales months; my listings were taking 30-40 + days to sell and the Inbox was not filling up with buying inquiries. Good houses were selling, but not quickly, and not for as much as the previous year. Houses on the margins (on busy streets etc.) were not selling at all.

Check out the optimistic February Market Watch (pdf).

March was starting to show some strength March Market Watch (pdf).

So here was my perspective at the beginning of March:

1. Good houses were still selling. Our house is in a demand neighbourhood, has a large lot, is on a quiet crescent, and is updated...no brainer - it will be sold.
2. There is a lot of inventory for larger homes. Prices for smaller housing is out pacing that of larger housing.
3. Interest Rates are dropping.
4. The normally brisk spring market is approaching.

So far so good. We have an projected list date of Mid May. So about 2 months to get the house ready. We want to list in May because we have nice landscaping a large yard which are great selling features.

Coming Up: Getting the House Ready for Sale