Sellers

5 Real Estate Resolutions for 2019

It’s a new year, and as we say goodbye to 2017 and welcome in 2018, that also means a new beginning. For some people, that new beginning includes setting goals, like losing a few pounds or quitting some bad habits; but it’s also an opportunity for you to consider setting some goals around the real estate market. Here are 5 real estate resolutions for you to accomplish in 2018:

5. Build Your Real Estate Portfolio:

2017 brought a lot of changes to the real estate market, most notably, price adjustments and rule changes. If you’re a seller, that may not have worked out in your favour, but as a buyer, that means opportunities. If you have some equity saved, you should consider using it to purchase an investment property. My opinion is that even if you just break even with your rental income, it’s a solid investment for you to make.

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Staging Tips for the Holidays

Before you deck the halls, see how the right holiday decor can help you sell…Over-the- top decorations may distract buyers, but subtle touches like a simple wreath can make your home feel warm and festive.

Clean and stage. If your living room is already piled high with clutter, your ceramic reindeer collection is only going to add to the sense of overcrowding.

Create a cozy vibe. The less-is-more mantra of home staging may tempt you to forgo holiday cheer this year. But a few subtle touches like a bowl of pinecones, an evergreen wreath, or a pot of cider simmering on the stove can create a warm and festive feeling in your home.

Complement your palette. Before you start untangling your tinsel, make sure your holiday collection matches your current decor. If your living room is painted a soothing ocean-blue hue, skip the clashing red garland and opt for white snowflakes or a silver glass-ball wreath. If you’ve got an earthy color scheme, accent with rich tones like cranberries, forest greens and gold.

Accentuate the positive. Too many trimmings may distract buyers, but the right accessories can draw attention to your home’s best features. Dangle mistletoe in an arched doorway, or display your menorah on the ledge of a bay window; just don’t block a beautiful view with stick-on snowflake decals or clutter an elegant fireplace with personalized stockings.

Go light on lights. Step away from the inflatable snowman, Clark Griswold. One man’s “merry” is another man’s “tacky,” so tone down any garish light displays while your home is on the market. (No, your neighbors didn’t pay us to say that.) Instead, use simple string lighting to play up your home’s architecture or draw attention to the gorgeous fir tree in your front yard.

Be an equal-opportunity decorator. Leave the life-sized Nativity scene in storage this year, because overtly religious flourishes may be off-putting to some buyers.

Mind the tree. A tall Christmas tree can help you show off your two-story great room, but make sure the wide base won’t overwhelm the floor space. If your living area is on the small side, save space with a skinny tree. Swap the gaudy heirloom ornaments and trim your tree in a cohesive theme such as icicle lights and silver tinsel, for example, or blue and gold glass balls.

Clear the clutter. A few decorations can stir the holiday spirit, but don’t feel obliged to hang every last ornament. You still want each space to look as spacious as possible. Limit yourself to a few hints of holiday flair, but stash the rest in the basement for now. If you start to miss your Santa figurines, just remember that with a little luck, you’ll be celebrating next year’s holidays in a new home. And you can decorate that place any way you please.

5 Annual check-up tips for your home!

I hate to use the F word but FALL is among us and there is no better time to start doing some annual check ups on your home before the cold weather kicks in and you’ll have every excuse not to get things done. Here are 5 things around the house to check annually. By being proactive with these listed items, I could actually help save you thousands of dollars down the road!!

Try to stay aware of potential issues that lurk in the furnace room, behind your walls and up on the roof. If you keep on top of your yearly maintenance, you won’t need to pay big bucks down the road to fix major problems. Here are some of my best tips for your home’s fall physical.

1. Green light

If you own an older home and your furnace is 20 years old or more, it’s well worth the investment to replace it with a high-efficiency Energy Star-rated model. If your furnace was installed no more than 10 years ago, look for ways to improve “the building envelope” to help reduce energy loss. Fall is a great time to check out the seals on windows and doors, for starters, and change your furnace’s filter. If you can, have an energy audit done every five years to keep tabs on the mechanical systems in your home.

2. All charged up

You should replace the batteries in your smoke and carbon monoxide detectors twice a year. A good rule to follow is to check your detectors when you change your clocks in the spring and fall. If you don’t have a carbon monoxide monitoring system in your home, please buy one. They cost less than $100 and have been proven to save lives.
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Don’t list your home for more than it’s worth (and other pricing problems)

In a hot market or a cold one, pricing your home accurately is always important. Under-pricing a property to attract multiple offers has been a successful strategy in the past, but even that appears to be turning buyers’ stomachs in the current climate. It seems my job these days is the complete opposite: talking clients out of over-pricing their homes. I get these same questions and comments every time I sit down with sellers:

“Another agent said it was worth more.”

It’s no secret that a lot of agents will “buy” listings by quoting the highest price, but if four agents said your home was worth $600,000-ish, and one agent said $700,000, that should concern, not excite, you. Beware of the realtor who wants your listing at any cost. He’s just going to rope you into a six-month listing, and hope you gradually decrease the price.

“Let’s try it at our price for a month or so first.”

The highest price you’ll get as a seller is within one to five days of listing your home, not 30 days later. I know I can get the full asking price, or more, if I can sell the property within that short timeframe. All the work should be done ahead of the listing, so the property will sell ASAP. After a house or condo unit spends a full month on the market unsold, you’ll attract low-ball offers from buyers still looking at your stale listing.

“People always offer less than asking anyway!”

Not always, and not if it’s in that initial one-to-five day period when you have all the leverage as a seller. And if the property is over-priced, they’re not going to make any offer, let alone one that is less than asking.

“Nobody knows the value of my home better than I do.”

Selling your home is an emotional experience that can leave a homeowner vulnerable, especially when your own bias causes you to over-inflate the value of your house.

“We’ll include all the furniture to get our price.”

This is a last resort. The depreciation on furniture and household products is massive. Your five-year-old couch that you paid $1,800 for is probably now only worth $300, sorry to say. That 42-inch Panasonic flat screen TV cost $1,400 in 2008, but technology has changed and you can get a better one today for half the price. Furnishing a house or condo is something today’s buyers look forward to. Most of them wouldn’t take your furniture for free, let alone pay for it.

“My neighbour’s house sold in two days for over asking!”

Right: your neighbour’s house, not your house. These are two different products, with different lot sizes, bedroom/bathrooms, sizes, styles, and upgrades. You can compare the two houses, so long as you contrast as well.

“We need to get at least this much out of our house.”

N-e-e-d is one of the worst words in real estate. Hey, I “need” a date with Ryan Reynolds, but that doesn’t mean I’m going to get it. People’s “needs” are typically more of a “want,” and ultimately a need or a want doesn’t change the fair market value for a given property.

“A higher price will make buyers think it’s worth more.”

I understand the thinking here. But buyers in Metro Vancouver are far too savvy to be fooled by that pricing nonsense. They all have access to sales histories in condominium buildings and on neighbourhood streets, and charging $25 for a $20 bill is never going to fly.

I’m a competitive agent by nature, and I get excited by the prospect of netting my clients extra couple of thousand for their properties. But even I can’t get somebody 120 per cent of fair market value, no matter how badly they want it.

6 Tips for First Time Sellers

Being a first time home seller has it’s own unique set of challenges. If you’ve never sold before, you probably don’t know what you should do to have your home ready to be seen by potential buyers. If you have those questions, here’s what you need to know:

1. Fix what needs to be fixed.

When you’re showing your home to potential buyers, you’ll want to make sure it looks its best. So, while you may have gotten used to the side door that’s a little hard to open or the garage door that doesn’t open automatically at all, potential buyers will notice. When you’re selling your home, those small details can make all the difference, so you should absolutely get them fixed.

2. Declutter and depersonalize.

Part of getting your home ready for sale means that you’ll have to depersonalize and declutter it. That means removing family photos, your child’s drawings on the fridge, religious artifacts, and cleaning up and clutter that may have accumulated over the years. You’ll want to do everything you can to make your home look clean, organized, and neutral.

3. Remember, it’s not your home.

Ok, well it technically is still your home, if all goes to plan, it won’t be for long. That means you’ll want to start looking your home from the perspective of a potential buyer and not from the perspective of someone that has lived there for a long time. You’ll want to look at your home objectively.

4. Consider all of the offers.

An offer is just that, an offer. Some might come in low, some might come in above your asking price. The point is, when you’re reviewing the offers, consider all of them as you may be able to negotiate them to get what you’re looking for, which in addition to the highest price, might have other details that appeal to you, like the closing date or the deposit amount.

5. Don’t price your home to high.

Everyone wants to get the most money for their home possible, but pricing your home to high can have the negative effect of not getting the most people possible to see your home. So how do you know if you’re priced to high? While it’s certainly possible to compare your home to similar homes in your neighbourhood that have recently sold, to get the most accurate price, you’ll want to get some advice from a professional and experienced real estate agent.

6. Always hire a professional.

No matter what, it literally pays to hire a professional real estate agent that understand both the unique aspects of your home and the area your home is in. While getting a discount on commission may seem like a good idea up front, or working with someone that’s less experienced that you personally know, working with a professional real estate agent with a lot of experience can help you get more money, or whatever you’re looking for, in the end.

The 10 House Rules You Need to Embrace Once and for All This Year

KEEP YOUR PHONE OUT OF THE BEDROOM.

If you’re like 71% of Americans, you probably tuck your smart phone in bed with you. But if you resist and leave it outside of the bedroom, you’ll have an easier time falling asleep, wake up feeling more rested, and more.

PUT CLOTHES AWAY AS SOON AS THEY’RE FOLDED.

Everyone’s guilty of leaving a stack of clean clothes out, then pulling from it throughout the week. But all this does is create clutter where it’s not needed, which is why we want to break this bad habit once and for all.

MAKE YOUR BED EVERY MORNING.

It’s so easy to abandon this task when you’re running five minutes late, but when you force yourself to make your bed you’ll start your day off on the right foot, sleep better at night, and return to a much happier home at the end of the day.

CLEAN YOUR COFFEEMAKER DAILY.

Even though this might feel excessive, it’s actually one of the germiest spots in your kitchen. So to ensure your cup isn’t contaminated in the morning, wash removable parts after every use and wipe down spills on the outside as needed.

REPLACE BED SHEETS EVERY WEEK.

Sigh, there’s nothing like crawling into a bed with fresh sheets — so why don’t we do it more often? Not only is this better from a health perspective (see you, germs), but this will also help your linens last longer and prevent them from losing their shape.

DON’T LEAVE DISHES IN THE SINK.

It’s so easy to say “I’ll do it tomorrow,” but what this really means is you get stuck doing dishes before you can even start cooking dinner the following night. Give yourself a break and rinse up the night before. Your growling stomach with thank you.

NO SHOES IN THE HOUSE.

Research has shown that things like the chemicals you use to treat your lawn or the coal tar that’s used on asphalt roads can easily get tracked into your house on your shoes. That, along with the fact that they bring in dirt and ruin hardwood floors, is why you should follow this rule this year.

SANITIZE YOUR SPONGE EVERY WEEK.

The good news: You don’t have to replace this cleaning tool when it gets germy — but you do have to clean it more often than you might realize. If you make zapping it in the microwave a habit this year, you can rest assured that your dishes are as clean as can be.

PACK YOUR LUNCH AT NIGHT.

Be honest: If you leave this chore for the morning, chances are it won’t happen and you’ll just end up buying (again). But if you embrace this rule, you’ll also help yourself stick to your budget resolution. Talk about a win-win.

SQUEEGEE YOUR SHOWER AFTER EVERY RINSE.

By taking on this one-minute task every time you wash up, you’ll save yourself some gross shower experiences and an unpleasant deep clean that would end up taking way longer (and require a lot more elbow grease) in the end.

10 Reasons to Hire a Real Estate Agent

With so much information readily available online, clients sometimes ask me, “Why should we hire a real estate agent?” Can’t I buy or sell a home through the Internet or through regular marketing and advertising channels without representation? Some do OK without representation and many don’t. So if you’ve wondered the same thing, here are 10 reasons why you might want to consider hiring a professional real estate agent.

1. Education & Experience

You don’t need to know everything about buying and selling real estate if you hire a real estate professional who does. Henry Ford once said that when you hire people who are smarter than you are, it proves you are smarter than they are. The trick is to find the right person. For the most part, they all cost about the same. Why not hire a person with more education and experience than you? We’re all looking for more precious time in our lives and hiring pros gives us that time.

2. Agents are Buffers

Agents take the spam out of your property showings and visits. If you’re a buyer of new homes, your agent will whip out her sword and keep the builder’s agents at bay, preventing them from biting or nipping at your heels. If you’re a seller, your agent will filter all those phone calls that lead to nowhere from lookie loos and try to induce serious buyers to immediately write an offer.

3. Neighbourhood Knowledge

Agents either possess intimate knowledge or they know where to find the industry buzz about your neighbourhood. They can identify comparable sales and hand these facts to you, in addition to pointing you in the direction where you can find more data on schools, crime or demographics. For example, you may know that a home down the street was on the market for $350,000, but an agent will know it had upgrades and sold at $285,000 after 65 days on the market.

4. Price Guidance

Contrary to what some people believe, agents do not select prices for sellers or buyers. However, an agent will help to guide clients to make the right choices for themselves. If a listing is at 7%, for example, an agent has a 7% vested interest in the sale, but the client has a 93% interest. Selling agents will ask buyers to weigh all the data supplied to them and to choose a price. Then based on market supply, demand and the conditions, the agent will devise a negotiation strategy.

5. Market Conditions Information

Real estate agents can disclose market conditions, which will govern your selling or buying process. Many factors determine how you will proceed. Data such as the average per square foot cost of similar homes, median and average sales prices, average days on market and ratios of list-to-sold prices, among other criteria, will have a huge bearing on what you ultimately decide to do.

6. Professional Networking

Real estate agents network with other professionals, many of whom provide services that you will need to buy or sell. Due to legal liability, many agents will hesitate to recommend a certain individual or company over another, but they do know which vendors have a reputation for efficiency, competency and competitive pricing. Agents can, however, give you a list of references with whom they have worked and provide background information to help you make a wise selection.

7. Negotiation Skills & Confidentiality

Top producing agents negotiate well because, unlike most buyers and sellers, they can remove themselves from the emotional aspects of the transaction and because they are skilled. It’s part of their job description. Good agents are not messengers, delivering buyer’s offers to sellers and vice versa. They are professionals who are trained to present their client’s case in the best light and agree to hold client information confidential from competing interests.

8. Handling Volumes of Paperwork

One-page deposit receipts were prevalent in the early 1970s. Today’s purchase agreements run 10 pages or more. Most real estate files average thicknesses from one to three inches of paper.

9. Answer Questions After Closing

Even the smoothest transactions that close without complications can come back to haunt. Many questions can pop up that were overlooked in the excitement of closing. Good agents stand by ready to assist. Worthy and honest agents don’t leave you in the dust to fend for yourself.

10. Develop Relationships for Future Business

The basis for an agent’s success and continued career in real estate is referrals. Few agents would survive if their livelihood was dependent on consistently drumming up new business. This emphasis gives agents strong incentives to make certain clients are happy and satisfied. It also means that an agent who stays in the business will be there for you when you need to hire an agent again. Many will periodically mail market updates to you to keep you informed and to stay in touch.

10 questions for an Interior Designer

Whether you’ve just moved into a new home, or want to make some redecorating choices in your existing space, you may want to hire an interior decorator to help you get the job done. But before you hire a designer to transform a room or area in your home, there are several questions you should ask to ensure that you’re connecting with the right designer to carry out your home decorating vision.

1. Credentials

Be sure to ask your interior designer about their credentials and qualifications when it comes to home design. Find out what school the designer attended and inquire about any professional affiliations they may have, so that you’ll feel at ease with the training and expertise that the designer will bring to your home project.

2. Portfolio

Ask the interior designer if you can see some of the work they have done for
other clients in portfolio form. Most interior designers will have both an online
and print portfolio these days, so you should be able to log onto the designer’s website at any time to view previous work that may be similar to the job you want done.

3. Years of Experience

Even though you’ve seen the designers portfolio and credentials, be sure to ask how long the designer has been working professionally. The more experience the designer has, the more comfortable you may feel allowing them to complete major home projects, such as knocking out a wall or replacing floors. However keep in mind that junior designers can be more eager and are fresh out of school with new ideas to bring to the table.

4. Work Requirements

During your initial consultation, ask your interior designer if they want to take on an entire home project or are willing to work on only one room or area. Some designers will only accept a project if they design for the entire home, so make sure you are clear on this before signing any contracts.

5.Budget

Let your interior designer know what your budget is and ask whether the home remodeling project you want completed will fit within this budget. This way, you’ll know exactly how much money you need before any work is done.

6. Payment

Ask the designer how much of a deposit is required before work can begin. Inquire about how you can pay for services, so that you can set up a workable payment plan.

7. Length of Project

Ask your interior designer how long the home decor project will take so that you and your family can make the proper adjustments. Work of this type usually takes longer than anticipated, so prepare for the project to extend at least two weeks more than projected.

8. Contract

Inquire about all aspects of the contract between you and the interior designer so that there are no misunderstandings during the decorating process. Ask about any terms that you’re not clear on and get clarification on the ones that you understand well.

9. Construction Crew

Ask the designer if you need to hire your own construction crew. In many cases, the interior designer has a group of go-to contractors for projects, but you’ll need to know this before any work is done so that you can hire additional professionals and budget accordingly.

10. Leadership

Talk to your interior designer about the way the home design project will
be conducted. Ask the professional if they work best by being the leader on a project, or welcome lots of input from the homeowner, so that you’ll know whether you and the designer can work together.