Look For a Busy Spring Real Estate Market!

This past weekend I wrote an offer for my buyer client on an apartment in near Coquitlam Centre mall. There are a number of new or newer buildings in the area. This particular apartment had been on the market for about 6 weeks. My buyer fell in love with it and after a 2nd look at it, decided to write an offer. My client is a 1st time buyer. Because of that there was plenty of ground to cover, i.e., how do things work?, what normally happens when…? etc.. To make matters a bit more complicated, the listing realtor was very inexperienced. I had to explain a lot of procedures to him, which wasn’t a problem really. At any rate, after submitting my offer, I was informed that 2 more offers were written and another 2 were possibly being written. What excitement! Needless to say, my 1st time buyer was taken aback. After sitting idle for 6 weeks, how could this property suddenly spring to life. The answer is that holidays and snow have hampered the market over the past few weeks and a backlog of buying activity has been created. That backlog is now playing out in the attached market certainly and I think the detached market is should perk up quickly too. Look for a busy Spring real estate market in Coquitlam, Port Moody and Port Coquitlam.