Low Sticker Price
On the flip side of buyers fearing the possibility of paying too much for a home, a sellers main fear is often pricing too low and leaving money on the table. Some buyers may feel that if their home sells fast (within the first day), their thought may be that their home was priced too modestly, however, this is likely not the case.
In the fast moving world of real estate, a well priced home makes the world go ‘round. In fact, a home priced too low may sit stagnant on the market as it may lead potential buyers to believe there are hidden issues with the home and the seller simply wants to get out before the walls come tumblin’ down. Alternatively, if a home is priced too high, it will certainly sit on the market, collecting dust until a well needed price reduction.
To overcome the fear of selling your home for too low of a price, make sure to hire a trusted agent who is familiar with the neighbourhood, has a number of sales in the area under their proverbial belt, and delivers you comparable data (what homes similar to yours sold for in the neighbourhood – not what they were listed for – what they SOLD for)
What will the home inspection uncover
This rings true for those who either skipped the home inspection when they purchased the home, or have owned the home for a number of years. Things happen, home systems get tired, roofs wear down, and repairs become needed. If you are selling and don’t have a good idea about all the things that make your home tick, you should absolutely opt for a pre-listing home inspection.
A pre-listing home inspection will tell you what may need to be repaired or replaced in/on your home and give you the opportunity to make the repairs / replacements before listing.
All spark, but no fire
If you have listed your home, and it is seeing a good deal of foot traffic, but no offers are coming in you may begin to get a little fearful that your home will never sell.
If this is the case, there are a few things to ask yourself (and answer honestly)
1. Help you get pre-approved
A good agent has a good network of top mortgage professionals that they can refer you to.
Make sure to collect at least three from your agent and interview them to determine who and what will work best for you.
2. Help you find the right neighbourhood
A good agent will not be confined to one square city block, they will have inside knowledge and hands-on experience in every neighbourhood with the city and surrounding municipalities.
Your agent should know about schools, community centres, crime rates, market fluctuations, overall neighbourhood demographics, and amenities.
Make sure when you are interviewing your Realtor® you are asking the about their experience and knowledge of key area’s you are considering.
3. Help you find the right home
Looking for a home can be fun, emotionally draining and yes, stressful. Your agent should NEVER try to convince you to buy a property you are unsure of, or speed you along your decision-making process.
Make sure that on viewing day your agent meets you / picks you up with print outs of all the homes you are going to be viewing that day and is knowledgeable about the area(s) you are going to visit.
As a side note, a good agent is not going to say too much when you are viewing homes – it is your choice after all, and they should remain relatively silent until you start asking questions.
4. Negotiate an offer
This is the agents time to really shine on your behalf.
Once you find a home you want to purchase, you’re a good agent will research comparable homes in the area and what they sold for. After factoring current market conditions, and condition of the home your agent will advise you of what their research has shown to be the best offer for you to make.
Remember, your agent represents you! Not the seller of the property. If you ever feel you or your interests are being misrepresented, it’s likely time to hire a different agent.
By this time you will know if your agent is a good or bad communicator, if they are a bad communicator, get rid of them (at step one). If they are a good communicator they will be in touch with you about when the offer will be submitted, how the offer presentation went, and what feedback comes from the side of the seller. Remember, communication is KEY from a good agent.
6. Help you hire a home inspector
Jut as a good agent will have a number of trusted mortgage professionals in their network, they will also have a number of home inspectors for your referral.
Make sure to interview each home inspector and make sure to ask for qualifications and depth of inspection. As a side note: A good agent will not try to convince you to pass on a home inspection. If they do this, they do not have your best interest in mind.
7. They will attend a home inspection.
A good agent will clear their calendar and be present during a home inspection. Again, your Realtor® has one main job – to represent your best interests – being present at the home inspection will ensure that the inspector has done a thorough job, and addresses any issues that you laid out as being important to you.
8. Negotiate any home inspection repair issues
No home is perfect, so there is likely to be an issue or two uncovered in the home inspection. A good agent will help you obtain any quotes for repairs and negotiate a new price based on the repair cost.
9. Communicate to the sellers agent and attorney throughout the sale
There is quite a bit that needs to happen from the moment you decide you want to make an offer on a home to your possession date.
A good agent will keep the lines of communication open with all other parties involved to make sure that the sale is on track and the process is being followed accordingly. Any misstep may cause delays, heart ache and head ache.
10. Thank you
Saying ‘thank you’ is not just good manners for a Realtor®, it is a quality that determines good agents from greedy ones.
A good agent will not only say thank you, but may send you a card or give you a small gift as token of appreciation for your business.
Pets are part of the family, we love them, care for them, walk them and clean up after them. When it comes to selling your home, pets may present a series of different challenges and considerations home owners must consider prior to listing.
With summer just around the corner, you may be planning your summer getaway. Here is a great article with tips to keep your home safe while you are away
Click the file links below
Click here for an article to help you get started
Moving can be a very exciting, but stressful time.
Click here for an article with tips to make it easier!
Published on: June 2, 2017 | Last Updated: June 2, 2017 7:26 PM EDT
Real estate agents are finally getting a taste of spring — at least in some parts of the city.
The average price for residential properties in Ottawa sold in May jumped 7.4 year over year to $436,600, the Ottawa Real Estate Board reported Friday. It’s the second month in a row that has seen prices increase in excess of seven per cent, suggesting Ottawa’s real estate market is strengthening in favour of sellers.
Certainly agents are seeing multiple offers for new listings, particularly for single family homes in popular districts to the west and south of the downtown core. Toronto investors are now on the scene, hunting for real estate investments that don’t cost the moon. “I’ve had six clients from Toronto looking for properties,” said one agent who did not want to be named.
Certainly the number of transactions in Ottawa picked up in May.
“It was a rainy month,” said board president Rick Eisert. “It’s possible a lot of people couldn’t do outdoor things so they went shopping for houses.”
The board reported that its members sold nearly 1,900 residential units in May, up sharply from 1,600 a year earlier. The market for condominiums was even more active as real estate agents sold a record 444 units in May, compared to just 307 in May 2016, representing a surge of nearly 45 per cent.
“The condo market has really helped strengthen the whole market over the past few months,” said Eisert. “There were a lot of condos in inventory and people were happy to be selling them off.”
Even so, the prices fetched for condo sales were modest. They averaged $271,000 in May, up just 2.3 per cent year over year.
A look at 46 districts tracked by the Ottawa Real Estate Board reveals some remarkable divisions across the city. A dozen areas recorded year-over-year gains in benchmark prices of less than 3.5 per cent for single family homes — and all but two of these were in the eastern sections of the city. These include enclaves such as Blackburn Hamlet and Orléans, home for thousands of Department of National Defence employees.
(The detailed district data uses a benchmark price developed by the OREB and other regional agencies. This tracks housing characteristics such as age of property, number of bathrooms and type of roof, which permits the creation of an index on which the benchmark price is based. The OREB claims it offers a more consistent view of underlying trends in the housing market.)
Real estate agents reported a significant shift in preferences among DND employees for homes closer to the department’s new headquarters in the west end of the city, especially for those who are being transferred into the city. While the DND headquarters move is running behind schedule, more than 1,000 workers have finally moved onsite, with 7,000 more due to arrive in the next two or three years.
Of course, many DND staff members will continue to work out of downtown office buildings — about half DND’s total local workforce will eventually be based at the new headquarters. This means DND’s influence over the housing market isn’t being felt entirely in the west. Some families are opting for homes south of the downtown core, which may account for some of the popularity of districts such as Hunt Club/Windsor Park (where single family homes sold for 20 per cent more in May compared to a year earlier) and Billings Bridge/Riverside (up 15 per cent).
A strengthening high-tech sector, much of it clustered in Kanata, is helping to drive up prices in western districts. But with online retailing specialist Shopify set to significantly expand its downtown operation, house prices in the south and perhaps even the city’s core could be set for a boost in the months to come.
Here is a great video from Environment Canada that explains what to do in the case of lightning and how to access The Canadian Lightning Danger Map which represents areas at greater risk of being struck by lightning in the next ten minutes.
The City of Ottawa is proud to present Doors Open Ottawa, a free annual architectural event that celebrates our community’s built heritage.
Yet another reason to be optimistic about living in our nation’s capital!
The economic outlook is looking strong with Canada’s 150 celebrations around the corner and the federal government going on a hiring spree, which is expected to grow the Ottawa-Gatineau work force by 2.5%
Click HERE for the full CBC article with quotes from Alan Arcand, the associate director for the board's Centre for Municipal Studies.
What does all this mean for the real estate market in the greater Ottawa area or, more specifically, your neighbourhood? Is now the right time to buy or sell? Contact me and I’ll be more than happy to help you in any way I can.
It is a bilingual, interactive map of Ottawa that offers a quick way for residents and prospective buyers to locate schools, libraries, parks, recreation facilities, events, and more.
The government will spend nearly $300 million over the next decade to collect data about the housing market.
In particular, the Liberals have budgeted $39.9 million over the next five years so that Statistics Canada can compile information on foreign ownership of homes in Canada, as well as assembling data on the demographics of owners and how they are financing their home purchases.
Click here to read the full article
With all the rain and flooding the Ottawa area has dealt with this spring, mosquitoes are going to be a problem this summer.
The countdown to summer is on! That means it’s time to get your home’s exterior—including the front entry, deck, lawn and garden—ready. Follow these expert tips and tricks to boost your curb appeal, prep for outdoor entertaining and have your yard looking its best (even on a budget).
It’s starting to finally feel like Spring! Festivals are just around the corner, the Sens are in the middle of their Stanley Cup run, and the weather is starting to become a lot more co-operative.
More importantly (ok, second most important…GO SENS GO!) it now means we can dust off our bikes and enjoy the city for what it is!
HERE is a nice resource/idea for tourists visiting Ottawa, or just for those of you who haven’t had the chance for tune up your bikes and rediscover the beauty of the Rideau Pathway.
As always, if you’re looking for more Spring time tips or would just have general inquiries about your real estate needs give me a call or send me an email! I’d love to help in anyway.
OK, so you’ve made the decision to list your property. That’s an important start. You found the realtor you trust, got a lot of the legal mumbo-jumbo out of the way, and are ready to bring it to market.
The hard part is out of the way and it should be smooth sailing from here on, right?
A lot of people discount how much work is needed for showings and open houses. Due to this misconception, you can find yourself swamped in unexpected stress and last minute jobs that completely slip your mind until they need to get done.
And how were you supposed to know, right? Selling your property can be stressful. Even the most prepared among us can’t plan for every situation that arises.
It’s not easy. I get it.
Luckily, through my years of experience, I’ve picked up a lot of tricks and resources to make showings as smooth and stress-free as possible. Click HERE for one such resource: A neat (and cheeky) check-list to make sure you’re prepared for your next showing.
Looking for more tricks of the trade, or just have general questions? Give me a call! I’d love to help out in any way I can.
Curbside appeal is important, especially if you're considering listing your property. It plays a role in maximising value and marketing potential, and is a must-do for the Spring/Summer Market.
But, curbside appeal isn't just pretty window dressing or the "Awe!" factor. The best appeals actually serve a function that adds to the practicality of your property.
Here is a neat article on an idea that not only adds to your curbside appeal, but could potentially help keep your basement dry during the rainy season. This also translates well to certain areas of Ottawa and the Ottawa Valley
Click HERE for the full CBC article.
Have any questions or are looking for more ideas? Let me know and I'll be happy to lend a helping hand!
FIRST POSTED: WEDNESDAY, MAY 03, 2017 04:14 PM EDT | UPDATED: WEDNESDAY, MAY 03, 2017 09:51 PM EDT
Ottawa’s housing market strengthened in the favour of sellers in April as average prices for residential properties jumped 7.9 per cent year over year to $435,900. Members of the Ottawa Real Estate Board sold nearly 1,500 properties in April, up 2.5 per cent compared to April 2016, the OREB reported Wednesday.
Click here to read the full article
Staying indoors to avoid your own backyard? Most gardeners tend to bury their love of gardening due to fear of plant pollens and other allergy and asthma triggers.
This year’s special 65th anniversary program offers activities at four official sites as well as breathtaking Tulipmania Fireworks set to music, guided tours, vintage military displays paying tribute to our veterans, and the WWII liberation of the Netherlands by Canadian troops; and restaurant and hotel special offers.
THE GLOBE AND MAIL
The Ontario Liberals announced the province’s first balanced budget in a decade on Thursday, an expected move that could be construed as the unofficial start to the 2018 election campaign.
Much of the budget covered several areas that have already been addressed – most notably, the province’s 16-point plan for housing reform. But it also unveiled several billion dollars of additional spending in health care, referred to as a “booster shot” by Ontario Finance Minister Charles Sousa.
A glimpse into our visual past reveals a nascent Ottawa very different from the one we know today
As the weather gets warmer, it’s time to shed some of those cozy winter layers and head outside into the sunshine. Ottawa has several activities that lets the whole family take advantage of the warmer springtime weather. Whether you want to see new baby animals or you want to head out to explore the city on a bike, Ottawa has an attraction that is sure to delight. Explore some of the spring activities Canada’s Capital has to offer!
Now that the snow is almost gone, it is time to start thinking about Spring lawn care. Here is an article to help: (Click on the title to read the article)
Recipe for a healthy lawn: gardening expert Mark Cullen
For all of us in the Ottawa region, the spring thaw means potential flooding.
More than just a nuisance, evidence suggests that basement flooding can be linked to serious health problems. Recurrent basement flooding can result in longer-term damage to the building and equipment that may not be covered by insurance. It may also mean that insurance rates may rise or the minimum deductible may be increased, as well the potential that your property value may depreciate.
Published on March 26, 2017 in the Ottawa Business Journal Online
“This is the year to be a tourist in your own town. Take advantage of the resources at OttawaTourism.ca to learn about all the amazing events and to make plans – get to know your city all over again.”
Click here for a sampling of what you can enjoy in Ottawa this year
Ottawa road closures for Saturday's St. Patrick's Day Parade
Posted: 03/02/2017 2:52 pm EST Huffington Post
Whether it's young children growing up and needing your time for activities and school or aging parents needing extra attention, the generation caught in the middle of this is being spread thin. The sandwich generation has become the norm for Canadians, bringing packed schedules and extreme stress.
Click here to read the full article with tips to help manage it all
Thinking of selling? NOW is a great time to list your home!