Has your home been on the market for longer than you expected? Are other homes in your neighborhood or city selling fast while your home is just sitting idle on the market?

 

If this is the case, there are a number of reasons that could be why your home is not selling.

While you shouldn’t jump to conclusions if you don’t get an offer from the first showing, there does come a time when you should start taking a deeper look into why your home may not be selling.

 

The majority of selling issues will come from the price, condition, and marketing of your home. If your home is not selling as you think it should be, your first step should be to re-evaluate the asking price, especially in comparison to the condition of your home, as well as your marketing strategy.

 

Price

If you have priced your home too high, even in a seller’s market, you will have difficulty selling your home.  In a Buyer’s market, it is especially important to price the home strategically as Buyers are looking for a great deal, not just a good deal.  Consider putting yourself in the Buyer’s shoes and ask yourself, “Would I pay $XX for this home in this market?”  Sometimes it is difficult to be impartial and that is why it is important to listen to your local Fort St. John realtor.

 

Many people believe that it is best to price their home higher when they first put it on the market, in order to give more room for negotiation. If you want to sell your home quickly though, this is not an advisable strategy. In most cases, potential buyers will see the price and not even bother to negotiate with you, meaning you will end up lowering the price on your own down the road when your house has not sold.

 

Of course, there are exceptions to every rule, which is why having an experienced Fort St John realtor help you price your home correctly from the beginning can go a long way towards selling your home quickly and at the right price.

 

Condition

Condition and price go hand in hand. If your home is in poor condition, not updated, or vacant, it is still possible to sell it, but your price will need to be reflective of these conditions.

If you have the time and money to make minor updates and give your home a little TLC, you may be pleasantly surprised with the results.

 

Marketing

Just like pricing your home, marketing your home is best done by a professional realtor. As a Fort St John realtor, I know the importance of quality photos and great exposure as part of a fantastic marketing campaign for your home.

 

If your home isn’t selling, it’s probably time to speak with someone new! Give me a call today and we can get your house revamped and ready to sell!

I know that when it comes to choosing a Fort St John realtor, it is important to choose someone who is knowledgeable about both the local and national real estate markets, who is experienced with both buying and selling homes, and who is well versed in every aspect of the buying and selling processes.

 

As an expert in the real estate industry, I pride myself on staying ahead of where industry practices and education are concerned. I believe that working hard to constantly improve my knowledge is well worth it when I have the opportunity to share what I have learned in order to help my clients.

 

Buying a home is rarely an easy process, simply because there is so much involved. I am well aware of this and want to do everything in my power to help my clients understand the process and make the most educated decisions possible when it comes to the home they decide to purchase.

 

A common topic that comes up with my clients who wish to purchase a condo is strata fees. Many of my clients, especially those who are purchasing a condo for the first time, are unfamiliar with strata fees - what they are, how they are determined, and where the fees go - so I have created this post to cover just that!

 

What Are Strata Fees?

To better understand strata fees, let’s first discuss what strata lots are. A strata development is a building that is divided into separate units or strata lots. This type of building structure allows for individuals to obtain ownership of a particular strata lot, otherwise known as a condo unit.

Strata fees are monthly fees that are paid by the owners of the strata lots to the strata corporation. The strata corporation then uses those fees to pay for the common expenses of the strata development.

 

How are Strata Fees Determined?

Strata fees will vary from owner to owner because each individual’s fee is based on the portion/size of the strata development they own.

Your individual strata fee will be calculated by dividing the total cost of the strata’s expenses by the unit entitlement of your strata lot. Based on this calculation, the larger your unit, the higher your fee.

 

Where Does the Money from Strata Fees Go?

There are two different funds that every strata corporation in British Columbia must maintain and the funds paid by each individual owner of a strata lot are divided up between the two.

 

The common expenses that are paid on a regular basis – building insurance, maintenance, and upkeep, repairs, water, snow removal, garbage removal, etc. – are deposited and paid for from the operating fund. Expenses that are unusual or unexpected – building upgrades, new roof, etc. – are deposited and paid for from the contingency reserve fund.

 

By asking for an estimated budget of expenses for the year, you can get a better idea of what your portion of the strata fees will be and what your monthly payments will look like.

Strata-type properties can be excellent properties for individuals that travel frequently, work long hours, or prefer spending their weekends and evenings doing something other than yard work or snow removal.  

 

As a Fort St John Realtor, I am experienced working with strata developments and can help you figure out if the benefits of a condominium or townhome property are right for you!