Craig Fraser - Value you can Trust

604-790-7653

Well, the market has sure changed in recent months.  Just 2 months ago, there was little inventory on the market and good homes were sold overnight.  Today, I drove through my neighborhood and saw 17 for sale signs. What a difference in such a short time. Have the Buyer's started an early summer vacation or are there so many listings that the Buyers can't put a dent into it? What will home owner's and their realtors do to distinguish themselves from the pack? I know what to do with my listings and it is working very well.

Sales in Coquitlam/Port Moody/Port Coquitlam have been steady during this period and will continue to see strength as families take this opportunity to move to larger homes. Expect to see large number of Condo listings as a result of these upgrades.

Investors, time to negotiate hard with these motivated sellers.  For more insight into the market you can reach me anytime at info@craigfraser.com.


   www.craigfraser.com

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I have listed a new property at 11290 BONSON RD in Pitt Meadows.
A Gorgeous custom built home in Bonson's Landing. One of the largest homes in the area with a bright and open floor plan. Meticulously maintained home with recent upgrades including beautiful granite in kitchen and baths,gorgeous tile work,high end stainless appliances,botanical backyard,Heat Pump(air conditioning), and more. Gourmet kitchen and flex room is perfect for families or entertaining. Beautiful hardwood floors throughout main level. Large Master bedroom with full 4 pc ensuite. Huge garage for 3 vehicles or the boat. Wonderful home in a great location.
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I have listed a new property at 2535 DAVIES AVE in Port Coquitlam.
Very well maintained home with 2bdr suite in basement. New Roof, hot water tank in 2010. Great floorplan, good size bedrooms, large kitchen with Stainless applicances. Many interior updates including the flooring,tile work,washer/dryer.2 car agarage with extra parking. Very convenient location. Easy access all ammenities,shopping and transportation. Open House Sun March 11th 2-4pm.
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People spend more time shopping for a TV than for a real estate agent. This, sadly, can cost them thousands of dollars, and often does.

When house prices are surging and a modest home can cost $600,000, excitement can lead to indifference about what agents charge. But that’s a mistake under any circumstance. Homeowners who understand how the realty business works, which this little primer will attempt to explain, will be far better off.

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1. Don’t hire a friend

The easiest mistake is hiring an agent simply because you know him or her – it’s a friend, a second cousin or just an acquaintance. You might not even want to hire that person, but it’s awkward to say no, or to haggle.

A friend of mine who wanted to sell his house hired his childhood pal because he pressed him for the listing. The agent sold the house in two days, which my friend at first thought was great work. When he discovered it sold fast because it was very underpriced, he had second thoughts. He paid $22,000 for this “service.”

Takeaway tip: Make your agent earn your business whether you know him or not.

2. A quick sale benefits the agent

You have to understand the agent’s incentives, and how they differ from yours. Agents understandably want to sell as many homes as quickly as possible. The selling price, which is your main concern, is not so important to them.

When I sold my house a few years ago I hired the agent who’d sold the home across the street in a bidding war, figuring he must be talented. Was I wrong. My house also triggered a bidding war, which was very exciting. One at a time, three agents brought their clients into the house to table an offer while the others waited in their cars. The bids rose quickly and we blew past the asking price. One bidder dropped out, and one of the remaining two came in to make his fourth bid of the evening. My genius agent – “let me do all the talking” he said before the auction started – accepted it. Stunned, I asked him for a word in the kitchen, and told him we should get a counterbid.

“It’s a good offer,” he said. “Let’s not be greedy.”

Fortunately I insisted, because the other bidder offered $10,000 more.

Why would my agent not try to get one last bid? Remember thatFreakonomics YouTube video from 2010? As Steven Levitt and Stephen Dubner pointed out, that extra $10,000 added only $300 in commission on a 6-per-cent commission, which he would get half of. He’d already made thousands: What was an extra $150, especially when it was Saturday night and he was eager to get home? It might have been almost $10,000 in my pocket, but it was nothing to him.

Takeaway tip: Don’t get rushed in the bidding war. Push back if you think you’ve got a shot.

3. Myth: You get what you pay for

Most people think commission rates are high but accept them anyway. There are full-service discount realtors who charge less and offer the same service. Why hasn’t this caught on faster?

Some homeowners are convinced by the industry that “you get what you pay for.” That’s what traditional agents always say. But it’s clearly not true. Are agents working twice as hard today as they were 10 or 15 years ago? Obviously not, yet commissions have doubled in that time along with home prices. Rates very by province but assuming a 5-per-cent commission, the cost of selling an average-priced house in Toronto is $25,000 today compared, with half that a decade or so ago.

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