The Number of Open Houses is declining…

One of the resources that I use to keep updated with the real estate market, and what is going on with the NAR (National Association of Realtors) is through a website called Active Rain. It’s a blog site so there are thousands of members, thousands of articles and lots of great topics.

I just read a blog titled: It’s Time For Realtors to Stand Firm on Not Doing Open Houses written by Lee Morof, Associate Broker/Attorney in Birmingham, Michigan. He is with Re/Max Showcase Homes. You can read the full article from this link

It’s a great article and while he does have some very good points we know that not all areas in North America face the same concerns about Open Houses as others. You can read more about the CONS in his article.

What I found really interesting are these statistics:

Every year I order the results of the National Association of Realtors (NAR) Survey of Home Buyers and Sellers. I am particularly interested in How the Buyer Found His or Her Home in the last year because that determines where my marketing efforts will go to sell the homes that I list. Because the numbers pertaining to open houses are so dismal, it is no longer a category in the survey results. I do understand that open houses were more successful before personal computers and the internet but now, approximately:

90% of buyers begin their home search on the internet
36% will find their home on the internet
36% will find their home through the help of a realtor,
12% from a yard sign
6% from a friend, neighbor or a relative.

That covers ninety percent. Another 5%, will purchase new construction from a home builder or the builder’s agent.

And because of the internet availability as a resource this is precisely why homes need to be staged so that the MLS photos look FANTASTIC! That is what will attract a potential buyer. As PRES home stagers it is critical that the realtors we have strategic alliances with know the value of a staged home.

Great News from the Real Estate Board on HST

This was recently sent to me by Leanne Woodward a Realtor with Prudential Sussex Realty in North Vancouver BC:

Great News for buyers, sellers and the Real Estate Board. Government listens to REB on HST

The BC Government has announced that it will exclude new homes costing up to $525,000 from its proposed 12% Harmonized Sales Tax (HST) scheduled to take effect July 1, 2010, this increase will move the threshold to above the average new home price in the province.

The government has also increased the rebate of the provincial portion of the HST paid on a new home to a maximum of $26,250. They had originally proposed a home price threshold of $400,000 and a maximum rebate of $20,000, this is a 30% increase on that first proposal. This was all in answer to the Real Estate Board lobbying to raise the threshold in October 2009.

The government has also released its proposed Residential Housing New Housing Rebates and Transitional Rules for British Columbia HST, This includes:

Transitional rules: the HST would not apply to sales of new homes where ownership or possession is transferred before July 1, 2010.

Grandparenting: sales of new homes under written agreements of purchase and sale, including presales, entered into on or before midnight November 18, 2009, would generally not be subject to the provincial portion of the HST, even if both ownership and possession are transferred on or after July 1, 2010. Any home sold on or after November 19, 2009 is subject to HST transitional rules.

For a copy of the new Transitional Rules, visit:

http://www.sbr.gov.bc.ca/business/Consumer_Taxes/Harmonized_Sales_Tax/HST_Transitional_Rules.html