Well, the market is still in a very slow mode with sales volume down each of the last 3 consecutive months. The information in the Q4 market reports looks at contracts that were signed before the end of September so it really gives an accurate picture of what Q3 was like. To really the effect of the slow down, we'll need to see Q1 and Q2 market reports to gauge the level of the market.
With conditions as they are it is very important when selling to:
1) Make sure you understand what someone will need to obtain a mortgage for your property. Speak with a mortgage broker and have them put something together for you so you can provide prospects with all the information. Greater transparency = greater sales.
2) Pricing - don't add appreciation on comps from 2007 as the market today is soft currently. Since you have some flexibility, you should use this to provide the best deals to buyers while still taking home more money. Price sharp and use the fact that you aren't paying a commission to differentiate your pricing.
3) Know the comps in your building and use them wisely. All buyers will be checking them out too so best to be informed and help people through the transaction.
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