Well i just got back from speaking at the annual CRS Sellabration Conference (Certified Residential Specialist Designation, I am only in Victoria) in Las Vegas. It was a cool 44, Celsius or 112 for my American friends! Learned lots of things to help my buyers and sellers and about markets around North America.

It was interesting to hear the other speakers and hear about market in USA. Did you know that in Las Vegas it is 1 in 4 homes that are in foreclosure and another 1 in 4 that are behind on payments! huge change. in some cities 98% of all business is short sale (means the bank takes less and you can't buy a house for 7 years) or foreclosure sales.

We are lucky in Canada and Victoria, or are we?

Stats as of this am,July 2010 sales month to date, 263. July 2009 sales 933! Ouch there is a change. Last month we saw a 34% drop in activity, this month it could be 50% yet prices aren't moving. Hmm. So houses aren't selling and prices have not changed. What gives or more to the point what has to give? Price. We believe there has been a 5% drop in prices since May 1 and we are likely to see a 10% drop in home prices by the end of the year. So how am i still selling homes? 5 so far this month. its price and staging!

All the marketing in the world will not sell a overpriced home. and all the marketing will not sell a unstaged or messy home. We just listed a home yesterday at 4786spring.com and the owners had spent 2 weeks staging and getting it ready for sale! wow what a job on a great home. But its also in lower priced range that staging is important. Our new clients at 8-949 Cloverdale also spent a week getting their home ready for the market.

In today's rapidly changing Victoria and Saanich Peninsula Real Estate Market you need to price it right (aggressively which means below the last sale price of what just sold if you want to sell. For Sale comparable's don't matter) and stage the home. Put a clean coat of paint on it, declutter, clean and do whatever it takes. Oh and lots of pictures. With 94% of people starting their search on line pictures and floor plans are the key.