A total of 421 properties sold in the Victoria Real Estate Board region this February, 22.8 per cent fewer than the 545 properties sold in February 2018 but a 28 per cent increase from January 2019. Sales of condominiums were down 25.9 per cent from February 2018 with 129 units sold but were up from January 2019 by 16.2 per cent. Sales of single family homes were down 15.8 per cent from February 2018 with 219 sold.
“Buyers and sellers appear to be looking at the current real estate market from different perspectives,” says Victoria Real Estate Board President Cheryl Woolley. “Buyers are hoping to see reductions in prices because governments have told the public that policies like the mortgage stress test and the speculation tax will improve affordability. However, the actual result of some of these policies seems to have softened the higher priced end of the market and increased competition for properties at the lower priced end. Conversely, sellers may be holding out to see if prices increase in the spring, and those hoping to up-size may be unable to qualify for the funds needed to move up because of the stress test.”
There were 2,131 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of February 2019, an increase of 3.6 per cent compared to the month of January and a 37.9 per cent increase from the 1,545 active listings for sale at the end of February 2018.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in February 2018 was $848,600. The benchmark value for the same home in February 2019 decreased by 0.3 per cent to $845,900, lower than January’s value of $847,800. The MLS® HPI benchmark value for a condominium in the Victoria Core area in February 2018 was $483,700 while the benchmark value for the same condominium in February 2019 increased by 3.9 per cent to $502,800, slightly higher than January's value of $499,700.
“Local REALTORS® continue to be very busy showing listings, so demand is evident in the greater Victoria area,” adds President Woolley. “Currently, we still have very low inventory compared to the long-term average with little having come into the market this past month. As the spring thaw comes, there’s a good chance more listings will come onto the market which will create more options for prospective buyers. Homes in sought-after areas and those that are lower priced remain in high demand. Now is a good time to connect with your Realtor to discuss your goals and how to navigate the current market.”
Ideally you should have a week or two available before you list your property in order to stage your home and make it look its best for buyers.
But, what if you listed quickly and within hours of the For Sale sign going up a buyer wants to view your property?
In that scenario, you need to do some quick "staging" to get your home ready. Let's assume your property is already clean and tidy. Here are some other things you can do.
· Open the curtains, even at night. This will make each room seem brighter, more appealing and more spacious.
· Pull out some boxes or storage bins. Put away personal knick-knacks (like that bowling trophy) and other personal items to reduce clutter on shelves and countertops.
· Clear countertops in the kitchen and bathrooms. Put the old toaster oven out-of-sight.
· Make sure lighting throughout the house is bright and comfortable. In darker areas, plug in a lamp.
· Clear away as much as you can in the foyer. Make that space look open, uncluttered and welcoming.
· Move cars out of the driveway. Give the buyer a convenient place to park!
· Make the beds. Fluff pillows on sofas.
· Clear away as many items as possible from the closet floors (such as shoes.)
· Open a window and air out the kitchen, especially if you just finished cooking.
· Make sure your pet is in a crate or, if possible, out for a walk. Not everyone loves pets.
These staging tips take only a few minutes each, but can make a big difference in the impression your home makes on a buyer.
Want more home selling advice? Call today.
Imagine going to a restaurant with your family for dinner. You're planning on ordering a nice pasta and salad. Your heart is set on it. But, after you go to the trouble of driving there and getting a table, you discover that pasta is not on the menu.
Of course, it’s only a meal. You can go somewhere else next time. But, what if the same scenario played out once you had moved into a new neighbourhood? Imagine you were counting on public transit being in easy walking distance, but discovered the nearest stop is four blocks away. Argh!
That's why it's important to ensure a neighbourhood has the characteristics you want — before you make an offer on a home you like. Think about what you want most in a neighbourhood. Consider work, commuting, schools, playgrounds, noise level, walking and cycling, hobbies, shopping, entertainment, etc.
If there is a neighbourhood feature that is very important to you, check it out for yourself. For example, if easy access to a main highway is desirable for commuting, take the route for a test drive.You can get a lot of information on a neighbourhood through the listed property's description and MLS listing.
Want more in-depth insights into an area you're considering? I have that information. Call today.
A total of 329 properties sold in the Victoria Real Estate Board region this January, 23.7 per cent fewer than the 431 properties sold in January 2018 and a 12.3 per cent decrease from December 2018. Sales of condominiums were down 5.9 per cent from January 2018 with 111 units sold but were up from December 2018 by 7.8 per cent. Sales of single family homes were down 29.3 per cent from January 2018 with 152 sold.
“It’s already an interesting year for local real estate. REALTORS® are keeping busy showing homes and writing offers, however actual sales are slower than we would expect in an average January,” says 2019 Victoria Real Estate Board President Cheryl Woolley. “There are many reasons consumers are hesitant to purchase. For instance, changes to mortgage lending rules have decreased the amount of funds buyers can qualify for by up to twenty-five per cent. In turn, some consumers are re-evaluating their expectations and looking at condos and townhomes rather than single family homes; or they are looking at single family homes further outside the core. As well, many buyers appear to be waiting for new inventory to open up, while sellers are watching the market closely to see what their homes are worth and what the spring market may bring.”
There were 2,057 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of January 2019, an increase of 3.5 per cent compared to the month of December and a 38 per cent increase from the 1,491 active listings for sale at the end of January 2018. The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in January 2018 was $840,100. The benchmark value for the same home in January 2019 increased by 0.9 per cent to $847,800, lower than December’s value of $858,600. The MLS® HPI benchmark value for a condominium in the Victoria Core area in January 2018 was $471,300, while the benchmark value for the same condominium in January 2019 increased by 6 per cent to $499,700, slightly lower than December's value of $502,400.
“Over the past few years, demand in Greater Victoria has outstripped supply, putting upward pressure on pricing. While many of the new developments proposed for our region are being built for much needed rental and social housing units, it will provide little relief for buyers who are caught in the pinch between tougher lending rules and higher prices,” adds President Woolley. “Moving forward, we anticipate continued interest in our region as people gravitate towards our mild climate, beautiful amenities and the lifestyle Greater Victoria offers.”
If you're thinking ahead to your next dream home, the road you need to take to get there may seem confusing. Do you search for listings online? Drop by Open Houses on the weekends? Call the number on For Sale signs? Let's break it all down!
Here are the specific steps you need to take to ensure you find a home that fits your wants, needs and budget.
1. Find out how much your current property will likely sell for on today’s market.
2. Arrange for financing, so you know what you can afford.
3. Select neighbourhoods you'd love to live in. (That may involve some fun exploring!)
4. Decide on the type of home you want to buy. (For example: detached, three-bedroom, etc.)
5. Prioritize the property features you want most, so you can be flexible if a feature is missing from a home listed on the market that is otherwise ideal.
6. View properties on the market that closely fit your criteria, particularly new listings that may not yet be posted online. (Tip: Arrange to be immediately notified of new listings that are a good fit for you.)
7. When you find a home you want, make an offer designed to get the property — without overpaying.
8. Negotiate until you secure the deal. This may involve counter-offers.
9. If the negotiation is skillfully done and all goes well, the home is yours.
As you can see, there isn't a lot of mystery in finding your next dream home. You just need to take the steps and get the professional help you need along the way.
Looking for a real estate agent that can get you to the finish line? Call today!
Moving around the corner or even across town is relatively simple because you are likely familiar with the various neighbourhoods and you can access them anytime. If there's a listed home you want to view, you can simply go see it.
Relocating to a different town or city, however, is much more challenging. It may not be possible for you to make multiple visits to see homes for sale. You may also be unfamiliar with the various neighbourhoods. So what do you do if you want to move out-of-town or need to relocate due to work?
Your first step is to get the information you need. You'll want up-to-date data on the neighbourhoods so you can pinpoint the ones that are the best fit for your needs and lifestyle. You'll also want to get a sense of the types of homes
for sale in those neighbourhoods — style, size, features, listing price, etc.
Your next step is to schedule a day to view homes. This visit must be carefully planned so you only see those properties that are likely to be of interest. You don’t want to travel all that way only to end up seeing properties you wouldn't likely buy. What a waste of time!
So, if you’re relocating, you’ll need help. Give me a call. I can help make the
relocation go smoothly for you.
For some people, the thought of listing their home for sale is stressful. They worry about all the things they have to do — and all the things that might go wrong.
Luckily, it doesn't have to be that way. Here are some tips for making your home sale go smoothly:
- Give yourself time to prepare. If you're thinking of selling six months from now, start preparing your property now. Do any necessary staging, and get it looking its best. Avoid doing these tasks at the last minute.
- Set the right price. Pricing your property too high will likely result in few, if any, buyers coming to see it. You might end up having to lower your price later, causing your home to linger even longer on the market. That's stress you don't need!
- Have a flexible viewing schedule. If you make it too difficult for buyers to see your property, they might lose interest or simply choose to buy another home. Be as flexible as possible when a buyer wants to view your property.
- Plan get-away activities. When a buyer comes for a scheduled viewing, don't be home. Instead, plan some fun activities for your family. Think: playground, shopping, cycling, etc.
- Accept the ups and downs. Prospective buyers might say they love your home and plan to make an offer. Then you don't hear from them again! It happens! Accept the inevitable ups and downs of selling your home.
- Get help with repairs. You'll probably have things that need to be fixed around the home, like a dripping faucet that needs repair or a room that needs painting. If possible, hire a professional to do some of that work.
- Finally, work with a great real estate agent. That will make the biggest difference in ensuring your move goes smoothly and stress-free.
Looking for a real estate agent like that? Call me!
Imagine you've found the perfect home. You love it. You've made an offer that's been accepted. So far so good! The only catch? You've wisely made the offer conditional on passing a professional home inspection.
What happens if that home inspection reveals a major issue?
First, you should know that, depending on the age of the property, a home inspection will typically turn up at least a few areas of concern. The inspector might find loose insulation in the attic that is thinning out or roofing shingles that will need replacing in two or three years.
Issues like those are not usually deal-breakers.
However, if the home inspector finds a major issue — such as old wiring that's worn and presents a safety concern — then you're facing a potentially high cost of repair should the deal go through.
In a situation like that, as your real estate agent, I will address the issue with the seller, usually through the seller's agent. Since neither of you will want to lose the deal, the seller often agrees to get the repair done at his own expense or, have some or all of the estimated repair cost deducted from the sale price.
Will the deal be in jeopardy? Usually not. In most cases, if you have a real estate agent like me working in your best interests, it all works out.
A total of 375 properties sold in the Victoria Real Estate Board region this December, 18.8 per cent fewer than the 462 properties sold in December 2017 and a 24.7 per cent decrease from November 2018. Sales of condominiums were down 24.3 per cent from 2017 in December with 103 units sold. Sales of single family homes were down 26.6 per cent from December 2017 with 174 sold.
A grand total of 7,150 properties sold over the course of 2018, 20 per cent fewer than the 8,994 sold in 2017. 2018 sales came in very close to the ten-year average of 7,351 properties sold. Condominium sales totalled 2,162 in 2018, compared to 2,783 in 2017. Single family home sales were down from 4,069 in 2017 to 3,187 in 2018.
“The story arc in real estate this year has been the impact of government influence on a market which was showing signs of levelling out through the latter part of 2017,” says outgoing Victoria Real Estate Board President Kyle Kerr. “All levels of government turned their focus to try to make housing more affordable and attainable across the property spectrum. The federal government’s change to mortgage lending qualification rules this year meant many consumers lost 20 per cent of their purchasing power, which contributed to slowing down the pace of the market. On a municipal level, we saw many councils activating how they can influence affordable housing by leveraging current land assets, acquiring new land and creating partnerships to bring new affordable units to market - and that’s a very exciting thing for our market in the long term. The provincial government has also promised huge investments into new affordable developments. These developments are important to the long-term growth of our community, because the only way to make more affordable housing in our area is to build it.”
There were 1,988 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of December 2018, a decrease of 15.2 per cent compared to the month of November but 43.6 per cent more than the 1,384 active listings for sale at the end of December 2017.
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in December 2017 was $832,000. The benchmark value for the same home in December 2018 increased by 3.2 per cent to $858,600, lower than November’s value of $865,200. The MLS® HPI benchmark value for a condominium in the Victoria Core area in December 2017 was $464,300, while the benchmark value for the same condominium in December 2018 increased by 8.2 per cent to $502,400, slightly more than November's value of $500,500.
“The market in 2019 will continue to be quieter than in previous years, as buyers and sellers adjust to new market conditions and government policies,” adds President Kerr. “Inventory is still quite low when you look at a longer range, which will continue to put pressure on pricing. Our overall economy is predicted to slow slightly, and that will likely mean a slower increase in interest rates but also slower growth. The good news is that savvy buyers will have more time to find their new homes, and that sellers will be under less pressure if they are planning to move within our market. Remember in evolving markets like ours, it’s important to enlist the services of a REALTOR® to help you navigate what may be your largest transaction ever.”
Wouldn't it be nice if you had all the time in the world to find your next dream home? You could leisurely browse the current listings, select homes you'd like to see, schedule visits on dates that are most convenient for you, and make an offer on a property only after you've had plenty of time to consider all the alternatives.
Sure, that sometimes happens, but it's not typical. Often, people shopping for a home are on a timeline. Sometimes a very tight timeline.
So how do you find your next dream home when you don't have all the time in the world?
First, you need to develop a clear picture of the home you're looking to buy. How many bedrooms? What size of property? What type of structure (two story, back split, etc.)? Then, you need to list your preferences. These might include "large kitchen" or "main floor office".
Once you've completed that exercise, you'll have a more detailed profile of the type of property you want. That will make it easier to decide which of the listings on the market you want to see.
You should also narrow down the area in which you'd like to live. If you have three or four targeted areas, and only consider listings in those areas, your home search will be much faster.
What if you don't know the neighbourhoods well? Visit a few. Drive around. Explore. Get as much neighbourhood data as possible, such as demographics, recreational activities, parks, shopping, schools, etc. Then choose the neighbourhoods that fit your lifestyle.
Finally, the best way to find a new home on a tight schedule is to work with the right real estate agent — someone who, like me, is experienced in the local market.
Call me anytime.
Is there an area you'd love to get into that's "hot"? In other words, an area where, as soon as a new home comes up for sale, buyers are clamouring to see it?
It can be intimidating to try to buy into a neighbourhood like that. On one hand, it's the type of area you'd love to call home. After all, there are good reasons why it's so popular! On the other hand, you might be discouraged by the competitiveness and prices.
If you want to live in that neighbourhood, there are a couple of things you can do that will increase your chances of success.
The first is to create a strategy. Most buyers rush to see a listing in a desirable area only when it shows up on MLS — or sometimes only when it's advertised. You'll have a better chance of getting into the neighbourhood if you are alerted the moment a property comes up for sale and you have pre-arranged financing. You’ll get to the head of the line and be ready to make a credible offer.
The second option is to consider targeting other neighbourhoods with similar characteristics. You may have long-dreamed of living in Prestigious Area A, yet there might be a Hidden Gem Area B that is just as good. Maybe it’s even better!
Ultimately, your goal is to find the home you want in a neighbourhood you like. The right strategy will get you there.
Contact me for more information.
A total of 498 properties sold in the Victoria Real Estate Board region this November, 25.8 per cent fewer than the 671 properties sold in November of last year and a 16.7 per cent decrease from October 2018. Sales of condominiums were down 30.9 per cent from last year in November with 152 units sold. Sales of single family homes were down 20.8 per cent from 2017 with 267 sold this November.
“We certainly anticipated a difference this year in terms of sales for November compared to last year,” says Victoria Real Estate Board President Kyle Kerr. “This time last year, the government announced plans to change mortgage lending qualification rules and our market saw a rush of activity as buyers tried to beat that new lending criteria which was rolled out January first. Our ten-year average of units sold for the month of November is 515, which is likely a better comparison than to the unusual market conditions we saw last year.”
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in November 2017 was $832,800, while the benchmark value for the same home in November 2018 increased by 3.9 per cent to $865,200, lower than October's value of $881,000. The MLS® HPI benchmark value for a condominium in the Victoria Core area in November 2017 was $456,200, while the benchmark value for the same condominium in November 2018 increased by 9.7 per cent to $500,500, slightly less than October's value of $502,600.
There were a total of 2,343 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of November 2018, an increase of 32.8 per cent compared to November 2017 but 6.7 per cent fewer than the month previous.
“Inventory continues to be low compared to historic averages,” adds President Kerr. “The ten-year average for active inventory in November is 3,204, so although it has improved compared to last year, we are still low on choice for buyers. At the same time, waning demand has meant that there is less urgency in our market right now, which can benefit buyers and sellers. The market tends to naturally slow down in the winter, so I’d expect we will have a more balanced market heading into the new year.
When you're having a garage sale, one of the toughest tasks is pricing your items. If you put a price tag on your old golf clubs that’s too high, no one will buy them. If you make the price too low, they might sell quickly, but you’ll spend the rest of the day wondering if you could have gotten more!
It's similar to selling your home — except with your home, the stakes are much higher. You want to price your property to sell, but you don’t want to leave any money on the table.
How do you accomplish that?
Setting the right list price for your home requires a combination of skilled calculation and industry savvy. Let's start with the "calculation" part...
When you work with me, I'll review recently sold properties that are similar to yours in type, size, features and location. Then, using that data, we’ll calculate a range that represents your property's "current market value." For example, consider a spacious 15-year-old bungalow in a nice neighbourhood. If similar homes in the area have sold for $675,000-$750,000 in the last six months, then it's obvious that your home should sell in that range too. A list price above or below that range would be in the danger zone.
But skilled calculation is only half the task.
Setting your list price also requires expertise in the local market, combined with good old-fashioned gut instinct. That instinct comes from being on the front lines of many property transactions.
That's why working with a good real estate salesperson is so important, when you’re deciding on the list price for your home. Want to discuss selling your home? Call me.
November 1, 2018 A total of 598 properties sold in the Victoria Real Estate Board region this October, 9.9 per cent fewer than the 664 properties sold in October of last year, but a 12.2 per cent increase from September 2018. Sales of condominiums were down 15.5 per cent from last year in October with 180 units sold, but up 20.8 per cent when compared to September 2018. Sales of single family homes were down 14.7 per cent from 2017 with 289 sold this October, 1.4 per cent more than the previous month.
"We continue to see the housing market shift into a more balanced state, though the trajectory is not smooth," says Victoria Real Estate Board President Kyle Kerr. "This month had slower sales compared to last year and a slightly lower level of inventory coming into the market, but it also had an increase in sales from last month, which may surprise some people. The moderating changes over last year have been punctuated with some competition and price pressure on lower and mid-priced homes while the upper end of the market has softened slightly. Right now pricing is key across all segments as we transition to a more balanced market."
There were a total of 2,510 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of October 2018, an increase of 31.8 per cent compared to October 2017 but 5.1 per cent fewer than the month previous.
"The market is definitely reacting to the changes in mortgage lending requirements," adds President Kerr. "Lending was made tougher to dampen the market and these measures have certainly had an impact on purchasing power. The threat of the looming Speculation and Vacancy tax has also cooled development in our area, which is unfortunate because the only way to create affordable homes in our area is to build them. We hope that moving forward the municipal, provincial and federal governments will work collaboratively to enable more supply at all levels of housing by funding public / private partnerships to support the increase of home stock in our area. We hope that aside from taxation and mortgage rules, governments will work together to ensure a future supply in our area to stabilize prices in the long term."
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in October 2017 was $830,100, while the benchmark value for the same home in October 2018 increased by 6.1 per cent to $881,000, slightly lower than September's value of $883,700. The MLS® HPI benchmark value for a condominium in the Victoria Core area in October 2017 was $457,500, while the benchmark value for the same condominium in October 2018 increased by 9.86 per cent to $502,600, slightly less than September's value of $503,000.
Imagine this scenario...
You're shopping for a new home. You drive to visit a recent listing. As you walk through the front doors, you're impressed. Every room looks fantastic.
You see yourself relaxing on the spacious patio, cooking in the modern kitchen, and enjoying evenings with the family in the cozy living room. Your emotions are on overdrive. This is your dream home!
Should you make an offer? Probably. In fact, you should make that decision quickly in case there are other interested buyers.
However, your decision shouldn't be guided purely by emotion. You want to make sure you take practical matters into consideration too.
For example, you'll want to consider:
- Is the property within your price range?
- Does it have everything you need?
- Do you like the neighbourhood?
- How old is the property? Are there items, such as the furnace, that may need to be replaced soon?
- Will it need any major repairs or upgrades?
- What are the average monthly costs of carrying the home? (Property taxes, utilities, etc.)
Once you've considered the purchase of the home from a practical standpoint, you'll have a lot more confidence in your decision when you make an offer.
Need help? Call me.
Ideally, you would like buyers to wait until they’ve viewed your whole property before they judge it. However, the reality is, buyers start forming an impression of your home as soon as they see it from the curb. So, it pays to do everything you can to improve your property's "curb appeal".
Here are some ideas:
- You can improve the impact of your landscaping by trimming hedges, removing any unsightly weeds, and cutting the grass. Planting just a few fresh flowers can make a big impact.
- If your main entrance door is old, a fresh coat of paint will make it
look like new. In some cases, the effect is significant.
- Remove any items that might distract the buyer from forming a good
first impression. For example, garbage cans, stored items along the
side of the property, etc.
- Make sure the curtains and blinds on your front windows are open
during viewings. That will make your home look more friendly and
- If your driveway has grease stains and other blemishes, consider
renting a power washer and giving the driveway a thorough cleaning.
- Clean your front windows. If possible, also clean the exterior panes.
- Finally, if possible, park your vehicles on the street and away from your
home. Doing this will not only make your home look more inviting to buyers, it will give them a convenient place to park.
Most of these tips can be done in less than a day. Yet, they can make a big difference in your home's curb appeal. They are worth the effort!
A total of 533 properties sold in the Victoria Real Estate Board region this September, 16.7 per cent fewer than the 640 properties sold in September of last year, and a 10.3 per cent decrease from August 2018. Sales of condominiums were down 30.4 per cent from last year in September with 149 units sold. Sales of single family homes were down 9.2 per cent from 2017 with 285 sold this September.
“This year’s housing market has continued to behave as we’ve expected, moderating after the record setting pace of 2016 and adjusting to various government measures such as tightening mortgage qualification rules that were intended to cool the market,” says Victoria Real Estate Board President Kyle Kerr. “We continue to see a reduction in sales when we compare to recent years and prices stabilizing across the market, with some variation in value in niche, higher end homes.”
There were a total of 2,646 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of September 2018, an increase of 5 per cent compared to the month of August and 33.9 per cent more than the 1,976 active listings for sale at the end of September 2017.
“If you are considering buying or selling a home, you need to understand your local market, particularly in the context of your property type and price point,” adds President Kerr. “Micro markets in our area behave very differently as they are influenced by different pressures. The under $800,000 housing market in some areas is under tremendous pressure as many buyers compete for these homes. The multimillion-dollar market in other areas is currently experiencing less pressure and we can see price flexibility coming into play in the 1.5 million dollar plus market. And although we saw a bump in inventory at the start the year, those inventory levels have stabilized as well. So buyers still face a market with much less inventory available than the historical average. Your local REALTOR® can help you understand the best way forward for your selling or buying plans based on current and granular data and market insights.”
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in September 2017 was $832,000, while the benchmark value for the same home in September 2018 increased by 6.2 per cent to $883,700, slightly lower than August's value of $888,300. The MLS® HPI benchmark value for a condominium in the Victoria Core area in September 2017 was $457,700, while the benchmark value for the same condominium in September 2018 increased by 9.9 per cent to $503,000, exactly the same as August's value.
If you're working with a landscaping contractor, you want to develop a good working relationship with that professional, so you can avoid delays, stress and other issues. After all, the last thing you want is a tree planted in the wrong spot because of a misunderstanding!
The same holds true when working with a real estate agent. Whether you're buying, selling, or both, you want the process to go smoothly and successfully. Creating an ideal working relationship with your agent is an important step toward making that happen.
How do you do that?
First, ask your agent to go over the process with you. If you're selling your home, you want to understand the steps the agent is going to take. That way, there will be fewer surprises. In particular, you’ll want to discuss how viewings will be handled. You'll need to come to an agreement as to when your home will be available for viewings, how short-notice viewings will be handled, and whether or not "lockbox access" will be needed.
Don't be afraid to ask questions, even if you're worried about seeming to be naive. (You won't!) You don't want to have unanswered questions or concerns between you and your agent.
Also, know that misunderstandings and mistakes can happen in any relationship with a professional. So if an issue comes up, discuss it right away. Don't let it fester.
Finally, remember that your agent should be a professional like me, with expertise in buying and selling in this market. When I make a recommendation regarding pricing, prepping your home, viewings, etc. remember that I am working in your best interest. I want to sell your property, quickly and for a good price, just as much as you do!
Looking for an agent you can trust? Contact me today!
If you need to upsize or you’re simply ready for a change, it’s tempting to consider a major renovation. After all, renovating means you don’t have to go through the process of selling your property and buying another more suitable home. You just fix up the one you’ve got!
However, you need to carefully consider the pros and cons of renovating before going this route. You don’t want to invest in a costly renovation only to end up with a home that still doesn’t meet your needs.
Say, for example, your current property doesn’t have a home office. Since all the bedrooms are taken, you decide to renovate a portion of the basement. Building that new home office may seem like a simple project, but once you consider new electrical, flooring, lighting, etc., it really isn’t. Like most renovations, it will probably cost more than you think. Plus, you’ll need to consider whether you’ll really want to work in the basement.
In this case, it might make more sense to find a new home with an extra bedroom that can be converted, or, better still, a dedicated home office space — with windows!
Of course, there are many circumstances in which a renovation may be the best way to go. If you don’t like your kitchen, for example, upgrading it may not only get you the kitchen you want, but also add value to your property.
Basically, you need to ask yourself: "Which is more likely to get me the home I really want – a renovation or a new home?"
If your answer is a new home, then there is probably a property on the market right now that would meet your needs. Let’s talk.
Is your home feeling a little cramped? If so, there are many relatively inexpensive ways to free up more space. Here are some ideas:
1. Convert traditional into non-traditional space. We’re all familiar with converting a spare bedroom into a home office or kids’ playroom. You can also create space by finding other uses for pantries and walk-in closets.
2. Explore smart storage solutions. There are many products on the market that revolutionize how you store things. For example, there are closet organizers available that double storage capacity. Check out the options at your local home improvement store.
3. Get rid of unneeded furnishings. Is there a chair no one ever uses? Is there a side table that takes up a lot of space, with nothing but a few knick-knacks on it? Consider selling these items to free up some space.
4. Think high. Install storage shelves, hangers or baskets high up in the kitchen and laundry room. Use that storage for items you only access infrequently.
5. Consider storage rental. If you have furnishings and other items that you don't want to get rid of, consider renting a storage unit. There may be economical options in your area. With a little creative thinking, you’ll be amazed by how much space you can create within your existing rooms.