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Abbotsford Market Update March 8, 2016

If there was any discussion of the market cooling off it was quickly put to rest this weekend. Many agents running open houses were met with an overwhelming number of people visiting. I had heard of lineups of people before open houses started. I did not have any lineups but it 2 days over the weekend I had 237 people through one home. It resulted in 13 offers being presented and the home sold for $91,100 over the initial asking price. Most of the buyers were local (and not from other parts of the world as the media would have people believe). It is a great time to sell, just make sure you have somewhere to move before you sell otherwise you could end up in the multiple situation and having to offer way more than a comfortable amount.

4 of the offers were no subjects and 2 more were only subject to appraisals (which ALL offers should have unless the buyer has literally all the cash in an account ready to go). There was also news circulating the open houses over the weekend of a home in Surrey receiving 100 offers.

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