When you put your home on the market you will go through the motions of staging your house, cleaning every nook and cranny and interviewing agents to find the best one for the job. But what about the actual showing itself? Have you done enough to ensure your home stands apart from the competition? Here are some tips to improve the odds of selling your home:
Caged dogs should go in a back room or the garage.
Pets are a touchy subject for homeowners. Unfortunately, an ill conceived idea on where to house a pet during your showings could be a deal breaker for a potential buyer. If you're going to cage your pet, especially a dog, make sure it's in a back room or in the garage. Leaving your dog in plain view during a tour will ensure endless amounts of barking and coversely will rush your potential buyers showing. Remember, you want your buyers to spend a lot of time in your home. You want them to sit on your couch and visualize the space as their own.
Turn on all the Lights.
During cloudy or sunny days leave them all on. Especially the ones in the basement. Nothing kills buyers excitement more than walking into a house that would have Indiana Jones searching for a lantern.
Don't leave a car parked in the driveway.
This isn't that big of a deal in the grand scheme of things you need to do while showing your home but its important. When a REALTOR arrives with their client they're most likely in two separate cars. If you have a short or circular driveway with your car in it then you may turn off both the agent and buyers with the perceived lack of space for cars.
Avoid cooking high odor foods if you have a showing that day.
Not something that you can control if you get a last minute showing but high odor foods can be a kiss of death for your home's saleability. I can't even count on all fingers and toes how many times a buyer has run out of a house after walking into a stinky kitchen.
Move bulky furniture out of potential walking paths.
While showing homes recently I saw every seller's worst nightmare: an irritated buyer. Because each buyer has a different set of circumstances (some are pregnant, some have trouble walking etc.) you should do your best to remove any obstructions like folded up treadmills and toys so a buyer can move through your home with ease.
De-Clutter!
The best advise to show your home is to show every aspect of your home as large as possible.
Simplify bookshelves by removing most of the books.
Remove all pictures and papers off the refrigerator.
Clean off almost everything on the counter. Key items should still remain in order to stage the home. You want your potential buyer to understand the function of the space, but still conceive it as being a large room.
Put essential items used daily in a small box that can be stored in a closet when not in use.
Thin out closets to give the illusion of more space.
Think of this process as a head-start on the packing you will eventually need to do anyway.
The best tip I can give you to show your home is to go see some local show homes done by builders. This small investment in time will hopefully point you in the right direction to show your home to the best of its ability.
Good Luck!
July 21, 2010
July 20, 2010
Economic forecast & rate increase July 2010
Calgary Mortgage Rates
Effective: July 20, 2010
Term Market Rate** Best Rate***
Adjustable Prime Prime - 0.60%
6 month 4.85% 3.95%
1 year 4.05% 2.54%
2 year 4.55% 3.20%
3 year 5.21% 3.60%
4 year 5.74% 4.09%
5 year 6.25% 3.99% Quick Close
4.19% Pre-approval
7 year 6.59% 5.00%
10 year 6.90% 5.20%
Prime 2.50%
Rate Increase from Bank of Canada!
Bank of Canada Increases Overnight Rate Target to 3/4 Per Cent
OTTAWA, July 20
The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the bank Prime rate is now 2.7 per cent.
Economic activity in Canada is unfolding largely as expected, led by government and consumer spending. Housing activity is declining markedly from high levels, consistent with the Bank's view that policy stimulus resulted in household expenditures being brought forward into late 2009 and early 2010. While employment growth has resumed, business investment appears to be held back by global uncertainties and has yet to recover from its sharp contraction during the recession.
The Bank expects the economic recovery in Canada to be more gradual than it had projected in its April. This revision reflects a slightly weaker profile for global economic growth and more modest consumption growth in Canada. The Bank now expects the economy to return to full capacity at the end of 2011, two quarters later than had been anticipated in April.
Reflecting all of these factors, the Bank has decided to raise the target for the overnight rate to 3/4 per cent. This decision leaves considerable monetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.
Given the considerable uncertainty surrounding the outlook, any further reduction of monetary stimulus would have to be weighed carefully against domestic and global economic developments.The next scheduled date for announcing the overnight rate target is Sept. 8
Effective: July 20, 2010
Term Market Rate** Best Rate***
Adjustable Prime Prime - 0.60%
6 month 4.85% 3.95%
1 year 4.05% 2.54%
2 year 4.55% 3.20%
3 year 5.21% 3.60%
4 year 5.74% 4.09%
5 year 6.25% 3.99% Quick Close
4.19% Pre-approval
7 year 6.59% 5.00%
10 year 6.90% 5.20%
Prime 2.50%
Rate Increase from Bank of Canada!
Bank of Canada Increases Overnight Rate Target to 3/4 Per Cent
OTTAWA, July 20
The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the bank Prime rate is now 2.7 per cent.
Economic activity in Canada is unfolding largely as expected, led by government and consumer spending. Housing activity is declining markedly from high levels, consistent with the Bank's view that policy stimulus resulted in household expenditures being brought forward into late 2009 and early 2010. While employment growth has resumed, business investment appears to be held back by global uncertainties and has yet to recover from its sharp contraction during the recession.
The Bank expects the economic recovery in Canada to be more gradual than it had projected in its April. This revision reflects a slightly weaker profile for global economic growth and more modest consumption growth in Canada. The Bank now expects the economy to return to full capacity at the end of 2011, two quarters later than had been anticipated in April.
Reflecting all of these factors, the Bank has decided to raise the target for the overnight rate to 3/4 per cent. This decision leaves considerable monetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.
Given the considerable uncertainty surrounding the outlook, any further reduction of monetary stimulus would have to be weighed carefully against domestic and global economic developments.The next scheduled date for announcing the overnight rate target is Sept. 8
Top 7 Reasons to Use a Buyer's Agent in a Real Estate Transaction
Purchasing a home is a big step, and a big decision. The average person spends around 1/3 of their income on their home. The home that you choose has a big impact on your life, and can have a big impact on your finances, as well. It always surprises me when Buyers attempt to “go at it alone” because of the possibility of mistakes. A good Buyer’s Agent is invaluable to a Buyer, and can be the difference between a wonderful transaction, and a nightmare.
1. Full access to the MLS
The Multiple Listing Service (MLS) is a powerful tool that only Realtors have access to. When listing agents market a home for sale, they typically allow any Realtor to present the home to potential buyers, and to present contracts for purchase. The MLS is a database of all homes listed by Realtors, and represents roughly 99% of the homes for sale in any given market. As technology advances, so does the MLS. It has evolved into an extremely powerful search engine that allows your buyer’s agent to enter in search criteria, and returns only homes that match those specific parameters. Buyers can find a lot of this information online through IDX feeds available on many websites, but this information is a “watered down” version of the MLS because the IDX search engines aren’t quite as powerful, and don’t return as detailed profiles as the MLS.
2. Maximize your time
While driving neighborhoods is an excellent idea to help you decide which locations you prefer, it’s not a very efficient way to find your new. home. Gas is expensive, and your time is valuable. Your Buyer’s Agent will listen to your needs, make fantastic suggestions based on your likes & dislikes, and provide you with a list of homes that ALL match your wants & needs. Your Buyer’s Agent has helped MANY new homebuyers through MANY purchases, and will help you better organize your search & decision making process – saving you valuable time.
3. Representation
Listing Agents enter into legally binding agreements that require them to ALWAYS act in the best interest of the seller. They are the seller’s “coach” and will make sure that their clients’ best interests are looked after. Luckily, your Buyer’s Agent is there to make sure YOUR best interests are accounted for. With your expert Buyer’s Agent in your corner, you can rest assured that you’re on, at least, even ground with the home seller. A football team would be at a pretty significant disadvantage without a coach – just as you would be without a Buyer’s Agent.
4. Negotiating Power
The MLS maintains a record of, not only all homes listed by Realtors in a given market, but also the sales price of those homes. Your Buyer’s Agent will run a Comparative Market Analysis (CMA) to determine a prospective home’s Fair Market Value (FMV). In simpler terms, your Realtor will look at similar homes in the same neighborhood that have sold recently. This way, you will know whether or not the seller has their home priced fairly. If the home is priced over Fair Market Value, your Buyer’s Agent can present your “under asking price” offer with plenty of firepower – and a greater chance that the offer will be accepted.
Experience
The average person buys 3-5 homes in their lifetime. A good Buyer’s Agent will assist in 3-5 home purchases every month. What might seem complicated and intimidating to you is fairly common and familiar to your Realtor. Your Buyer’s Agent will know what to expect, and will know when to alert you if anything out of the ordinary occurs.
6. Industry contacts
It takes a lot of people to close a real estate transaction – Buyer’s Agent, Listing Agent, Loan Officer, Inspector, Appraiser, Insurance Agent, General Contractors, and sometimes more! A good agent will come with a strong closing team that has performed in the past, and will continue to perform. A transaction is only as strong as its weakest link – with your strong Buyer’s Agent & their closing team, you can rest assured that you will have plenty of support.
7. Peace of mind
If you are like most people, your home is the largest purchase you will ever make. The average person spends around 1/3 of their total monthly income on their home. This is a big decision and you don’t want to go at it alone. When you use a trusted Buyer’s Agent, you know that your best interests are accounted for, and that you can feel confident in your purchase.
Courtesy of Eric Bramlett
5.
1. Full access to the MLS
The Multiple Listing Service (MLS) is a powerful tool that only Realtors have access to. When listing agents market a home for sale, they typically allow any Realtor to present the home to potential buyers, and to present contracts for purchase. The MLS is a database of all homes listed by Realtors, and represents roughly 99% of the homes for sale in any given market. As technology advances, so does the MLS. It has evolved into an extremely powerful search engine that allows your buyer’s agent to enter in search criteria, and returns only homes that match those specific parameters. Buyers can find a lot of this information online through IDX feeds available on many websites, but this information is a “watered down” version of the MLS because the IDX search engines aren’t quite as powerful, and don’t return as detailed profiles as the MLS.
2. Maximize your time
While driving neighborhoods is an excellent idea to help you decide which locations you prefer, it’s not a very efficient way to find your new. home. Gas is expensive, and your time is valuable. Your Buyer’s Agent will listen to your needs, make fantastic suggestions based on your likes & dislikes, and provide you with a list of homes that ALL match your wants & needs. Your Buyer’s Agent has helped MANY new homebuyers through MANY purchases, and will help you better organize your search & decision making process – saving you valuable time.
3. Representation
Listing Agents enter into legally binding agreements that require them to ALWAYS act in the best interest of the seller. They are the seller’s “coach” and will make sure that their clients’ best interests are looked after. Luckily, your Buyer’s Agent is there to make sure YOUR best interests are accounted for. With your expert Buyer’s Agent in your corner, you can rest assured that you’re on, at least, even ground with the home seller. A football team would be at a pretty significant disadvantage without a coach – just as you would be without a Buyer’s Agent.
4. Negotiating Power
The MLS maintains a record of, not only all homes listed by Realtors in a given market, but also the sales price of those homes. Your Buyer’s Agent will run a Comparative Market Analysis (CMA) to determine a prospective home’s Fair Market Value (FMV). In simpler terms, your Realtor will look at similar homes in the same neighborhood that have sold recently. This way, you will know whether or not the seller has their home priced fairly. If the home is priced over Fair Market Value, your Buyer’s Agent can present your “under asking price” offer with plenty of firepower – and a greater chance that the offer will be accepted.
Experience
The average person buys 3-5 homes in their lifetime. A good Buyer’s Agent will assist in 3-5 home purchases every month. What might seem complicated and intimidating to you is fairly common and familiar to your Realtor. Your Buyer’s Agent will know what to expect, and will know when to alert you if anything out of the ordinary occurs.
6. Industry contacts
It takes a lot of people to close a real estate transaction – Buyer’s Agent, Listing Agent, Loan Officer, Inspector, Appraiser, Insurance Agent, General Contractors, and sometimes more! A good agent will come with a strong closing team that has performed in the past, and will continue to perform. A transaction is only as strong as its weakest link – with your strong Buyer’s Agent & their closing team, you can rest assured that you will have plenty of support.
7. Peace of mind
If you are like most people, your home is the largest purchase you will ever make. The average person spends around 1/3 of their total monthly income on their home. This is a big decision and you don’t want to go at it alone. When you use a trusted Buyer’s Agent, you know that your best interests are accounted for, and that you can feel confident in your purchase.
Courtesy of Eric Bramlett
5.
July 15, 2010
Calgary Real Estate market is now a buyer's market.
- For the month of June 2010 the average Calgary house price was $481,964, down 0.2% from last month and up 7.8% from June 2009. The median Calgary house price for June 2009 was $418,900, down 0.3% from last month and up 5.0% from June 2009
- The average Calgary condo price for June 2010 was $292,238, down 4.0% from last month and up 2.3% from the same period last year. the median Calgary condo price for June 2009 was $269,900, down 3.5% from last month and up 1.7% from June 2009.
- The average days on market (DOM) for June 2009 was 39 days for single family Calgary homes sold. For June 2010 the average the average DOM for Calgary condos was 46 days.
- Calgary real estate listing inventory now sits at 5.7 months supply, 48 % more listings now than at the same time last year. With the growing number of Calgary real estate listings on the market we don't see prices trending much higher than the current level. Our conservative estimate is actually a decrease in home prices of 5-8% across the board and as high as 20% in high end homes and condos.
- It is important that consumers understand that an adjustment in the market is normal and healthy. Our adjustment seems more rapid than usual only because of mortgage rate changes, and government enforced lending requirements.
- There will never be a better time to enter the market as a first time home buyer or move up to a larger home. Let us set you up with the best search for new Calgary listings right here. Using the latest technology, you'll receive new Calgary MLS listings directly by email, long before they appear on MLS.ca
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