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 $475,000- $550,000 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.
Decorative moulding is one of the most eye-catching ways to upgrade a room. You’re probably accustomed to seeing standard baseboard moulding installed where your floor meets the wall. But, there are many other types. For example:
• Crown moulding for ceilings.
• Panel moulding for a southern colonial look.
• Chair rail moulding, which is very distinctive on walls.
• Apron moulding for window sills.
• Entablature moulding for above doorways.
Decorative moulding comes in a dizzying array of styles. Interior designers recommend taking home samples, just as you would take paint swatches, to test out ideas.In addition to style choices, you also need to select the material you prefer.
Moulding can be made of wood, plaster, laminate, composite, fiberboard, vinyl and other materials. There are pros and cons to each. Generally, the higher-priced options are more attractive and durable. (If you select wood, you typically have the additional option of “finished or unfinished”. If you choose unfinished, you of course, will be painting it yourself.)
Choosing the right moulding for the look you want is the toughest part of the job. Installation is a lot easier and most people with DIY experience have no problems. So if you want to add some magic to your walls, consider decorative moulding. It can turn a room from standard to stunning.
You probably know there’s more to selling a home than putting up a For Sale sign. But, if you don’t understand the process in detail, you might feel intimidated and stressed when it comes time to put your property on the market. Fortunately, the home selling process isn’t that difficult to understand. There are basically six steps.
Step one is selecting the right REALTOR®. You need a knowledgeable, trusted expert who can guide you through the process, take care of all the details, and help sell your home quickly and for the best price.
Step two is preparation. You need to ensure your home is clean and uncluttered. It’s also important that you take care of any needed repairs, even minor ones like wall dents.
Step three is the listing price. You need to select a listing price at or near the fair market value of your property.
Step four is promotion. How will buyers find out about your property? An effective promotion plan is critical.
Step five is dealing with offers. Ideally, you’ll get several. But the best offer is not necessarily the highest one. An offer can fall through for many reasons, so dealing effectively with offers is, perhaps, the most important part of the home selling process.
Step six is the transaction. Once the sale is made, you want to know that you have the right professionals in place – your lawyer, mover, etc. – to make sure all the after-sale details are taken care of properly.
Want more ideas for making sure the home selling process goes smoothly for you? Call today.
Getting Friends to Spread the Word about Your Listing
When you list your home for sale, you want as many buyers as possible to find out about it. So consider how many friends, neighbours and work colleagues you have. Then think about how many people they know. The number is likely in the hundreds. One of those people could be looking for a property just like yours.
That’s why getting your friends to spread the word about your listing is so effective. How do you do that?
One strategy is to have a moving party. This gives you an opportunity to ask your friends, as a group, to tell others about your listing. You can also encourage your friends to bring a guest who is currently in the market for a new home. Another good idea is to put a profile of your listing on Facebook. This is the fastest and most convenient way for your Facebook friends to point others to your listing.
Do you have friends who work at larger organizations like banks and factories? They probably have access to an employee lunch room with a bulletin board. You can spread the word by asking them to put up an information sheet on your listing.
Try one or more of these ideas. Combined with my marketing plan for you, they can help get more qualified buyers to your doorstep.
Want more tips on promoting your listing? Call today.
Property Surveyors, sometimes referred to as land Surveyors, play a vital role in the real estate world. They are the professionals who determine or confirm the exact boundaries of a property.
Will you need to deal with a Property Surveyor when selling your home? You might.
Sometimes the mortgage lender will ask for a land survey, especially if your property is older and hasn’t changed hands in many years. You might also be asked for one by the buyer if there is any confusion about the size and boundaries of your property – or if significant changes have been made to it in recent years.
This is nothing to be concerned about.
A qualified Property Surveyor will do the appropriate inspection and measurements on your property and issue you the survey. (It looks a little like a blueprint.)
Property Surveyors are highly trained and licensed. In the United States, the profession is represented by the National Society of Professional Surveyors, with each state having its own governing body. In Canada, Professional Surveyors Canada (PSC) represents the profession nationally, and most provinces have their own professional associations.
Before getting a new land survey, make sure you don’t already have one. Hopefully, you’ve stored the paperwork that relates to the purchase of your home. Look through it. A valid land survey might be right there.
If you have questions about land surveys, call today.
(NC) We all know where to splurge and where to save when it comes to fashion — a good blazer is worth its weight in gold, while trendier pieces that go out of style are best bought at a discount store. But what's the equivalent for home décor? Read on to learn what pieces are worth investing in and where you can save a few bucks.
Save — unique pieces. Cool, distinctive pieces can either cost a fortune or not much at all, so why splurge when you can save? Hunt for fabulous finds at garage sales, used goods stores or vintage shops. Some treasures are perfect as-is, and some require just a bit of paint to reveal the diamond in the rough.
Splurge — kitchen backsplash. An attractive backsplash can make any kitchen stand out and look expensive. It's also a relatively small area, so a pricier tile won't break the bank but will be sure to stand the test of time.
Save — bed linens. These take quite a beating from frequent washing and aren't visible to anyone but you and your partner, so don't spend a fortune. Bed linens are also an item where inexpensive doesn't have to mean lower quality — you can often find higher thread count sheets on sale, and since they're covered by the duvet you can get whichever colour is left.
Save — greenery. Flowers and plants you have inside your home or out are vulnerable to the weather, how much sunlight they receive, and whether or not you can remember to water them. And flowers and plants are nice to change along with the season, with bright florals looking great in the spring and summer, richer tones for fall and poinsettias during the holidays. Freshen up your home quickly and economically by saving on greenery. Depending where you live, you can sometimes even pick outdoor flowers for free.
Splurge — window treatments. Well-designed window fashions are beautiful to live with, provide variable light control, insulate rooms against heat and cold while saving energy, protect your furnishings from damaging UV rays, and absorb sound, improving the acoustics in a room. Hunter Douglas' innovative energy-efficient window treatments are available in a wide variety of fabrics, materials and styles to suit the form and function of every room in your home. Find more décor inspiration and a local retailer online at hunterdouglas.ca.
You’re standing by your window admiring the view. Then you notice it. Moisture has built-up around the edges of the glass. Should you worry? It all depends on the reason for the build up.
Assuming you have traditional double-pane glass in your windows, there are a few things to look for if you notice moisture.
Often, moisture at the bottom of the windows is simply caused by too much
humidity in your indoor air. If that’s the case, simply adjust your humidifier. If the moisture is on the exterior of the window, typically there’s also no problem with the window itself. It may have rained recently or the outside humidity may have spiked causing the accumulation. Generally, there’s no reason for concern.
However, if the moisture is in between the two panes of glass, the seal has broken and surrounding air – along with its water content – has made its way in. This disrupts the thermal barrier of the window, reducing its energy efficiency. In fact, the glass might feel noticeably colder than your other windows on chilly days. In that case, you’ll need to replace the pane.
Similarly, if the moisture is coming in through only one spot — the bottom right corner, for example — then you might have a leak. If you have a wood frame or sill, you may also notice a growing water stain. It’s important to get leaks fixed quickly. There may be water damage occurring within the frame that you cannot see.
When it Comes to Offers, it’s Not Always about Price
When considering which of two or more competing offers to accept for your home, there is no doubt price plays a huge role. After all, if Offer #1 is $10,000 higher than Offer #2, that’s an enticing difference that puts thousands of extra dollars in your pocket.
However, price isn’t the only thing you should think about when comparing multiple offers. There are other factors you need to consider as well.
For example, what conditions are in the offer? If Offer #1 is conditional upon the buyer selling his current property for a specific amount, then what if that doesn’t happen? You could end up with an offer that dies and be forced to list your home all over again. In that circumstance, accepting the lower offer may be your best move.
There’s also financing to consider. Most buyers will attach a certificate from their mortgage lender to show that they can afford the home and will likely secure financing with little difficulty. If you get an offer where the ability of the buyer to get financing is in doubt, that’s a red flag.
The closing date is another important factor. Offer #1 might propose a closing date that’s perfect for you, while Offer #2 is four weeks later. If you’ve already purchased another home, you might require a month of bridge financing if you accept Offer #2. There’s nothing wrong with that per se, but the costs and additional hassle are factors you should consider.
As you can see, assessing competing offers isn’t as easy as it looks. Fortunately, as your REALTOR®, I will guide you toward making the right
With so many young adults now living in condos, it’s not surprising that a growing number of them are considering staying in a condominium community, even as they start building a family. So, if you want To improve the over all market potential of your building’s individual units, consider how your condo group might address the needs and preferences of this growing sector of buyers. Of course, even though you can’t change the size of individual units or balconies, you can encourage your condo board to look into repurposing some aspects of your building’s common spaces. For example, young parents who don’t drive may be attracted to a condo that dedicates some of its parking area to a compound for strollers and bicycles.
Your board might even seek out nearby buildings to arrange shared space that can be dedicated to providing swimming lessons or daycare, or create a playground or parkland. Smart planning should also include approaching municipal authorities to determine population projections that might warrant expanding a local school.