Happy Victoria Day!

The 24th of May weekend always feels like the start of summer.

Time to open the cottage…

Lavigne-cottage-3-rental-1

 

 

 

 

 

 

 

 

Time to plant the annuals in the garden…

images-2

Time to get all the outdoor furniture out…

images

 

 

 

 

 

 

 

 

Time to open the pool…

pool

Whatever your plans may be, all of us at Coldwell Banker Community Professionals hope you have a great long weekend, and enjoy the summer ahead.

If your plans happen to include buying or selling a home, give us a call.  We are always happy to help people make the right move.

You Asked, So Here are Some Answers…

faq

There are some questions about real estate we hear all the time, so I have polled some of the professionals in our office to get their answers, and have shared their responses below.  Should you have any questions not addressed here, we will gladly get you the answer.

 DO I REALLY NEED A HOME INSPECTION?

The answer is a resounding YES. 

Here are a few of the particular reasons why.

  • To review the home in more detail and ideally see aspects of the property that the naked eye can’t see.
  • Even pros miss things in homes, and it’s better to have someone that does it for a living looking with you to see the issues. 
  • Although things may look normal to the untrained eye, a professional home inspector has specialized equipment that may uncover such conditions as water and mould issues.
  • Missed problems can result in large cash outlays.

IS HOME STAGING WORTH THE COST?

Again, across the board agreement, YES.

  • In some cases staging can turn a plain Jane house into a modern looking up to date home which in turn will likely produce a higher selling price.
  • Especially in a vacant home, staging better displays room sizes and layout.  In homes with less ideal floor plans, it allows potential buyers to see what can be done and envision themselves living there.
  • Having the property “show” ready will attract more potential buyers and ideally sell faster.
  • You will net 5-10 times more than you pay for staging for a nice looking house.  Not everyone can see “the potential”, so just show it to them.

DO I NEED A REALTOR®?

Of course, our answer is YES.

  • We represent your interests while negotiating the fine details of the agreement and the transaction.
  • A REALTOR® will guide you through the process; assist with the paperwork, market the property, negotiate, and take the stress off the seller or buyer.
  • Your home is your largest investment.  Navigating your way through a real estate transaction can be very complicated, from arranging financing, qualifying buyers, knowing what should and should not be disclosed.  Also a REALTOR® will know what is taking place in the current market and will help the seller price it right or make sure the buyer doesn’t overpay.

SHOULD I TALK TO A MORTGAGE BROKER OR A BANK?

YES you should, and using a Mortgage Broker seems to be the recommended choice.

  • Every buyer and seller should talk to their banker or mortgage broker prior to entering into a purchase or sale.  The buyer should be pre-qualified for a mortgage and seller needs to verify if there are any penalties with regards to their mortgage.
  • You should know what you can afford to avoid wasting time and facing disappointment. 
  • Either can assist.  Mortgage brokers shop all the lenders for you and are able to have plans B, C, and D ready just in case.  They also tend to be more accessible.
  • Mortgage Brokers can sometimes get better rates than bank employee pricing, plus they have a variety of products to choose from.

CAN I BUY A HOME IF I HAVE BEEN BANKRUPT?

Depending upon where you are in the bankruptcy process, yes it is possible.

  • You must be discharged from you bankruptcy.
  • I would recommend building your credit back first so that you aren’t susceptible to ridiculous interest rates.

DOES NEIGHBOURHOOD MATTER FOR RESALE?

ABSOLUTELY!

  • Location, location, location.  It’s all about what the neighbourhood offers that attracts buyers.
  • The best house in the worst area may sell well, but the best or worst home in the more desirable area will definitely appeal to more future buyers.
  • Location, location, location, but that said, more areas are in transition and being developed and  I’m seeing it now as location, renovation, location.
  • Certain neighbourhoods are more desirable and for different reasons.  Being close to transportation and shopping may be important to some while schools, parks, and hiking trails may appeal to other buyers.

ARE CORNER LOTS BETTER?

This is strictly personal preference.

  • Keep in mind in the city there could be more traffic and more upkeep to the property, such as snow removal from two sides.
  • Less privacy, less usable yard at times, usually more grass to cut and snow to shovel…

HOW MANY HOMES SHOULD I LOOK AT BEFORE I PICK ONE?

There is no right answer.

  • You will know within 15 seconds of being in a home if it’s the right one.  There is a feeling you get.  Could be the first house, could be the 101st.  
  • On average it seems to be 10-12.
  • There is no magic number, you will just know.
  • It does happen on the rare occasion that a buyer will buy the first house they viewed, however buyers often don’t really know what they are looking for or what they like, until they start looking.

 

My thanks to our Coldwell Banker Community Professionals members, Natalie Hashka, Daniela Tofano, James Mink and Gary Herron for taking time to provide their input on the above questions.  If you have more questions, or would like information, give one of them a call.  They will be glad to help you make an informed decision. They can all be reached at 905-522-1110.

You Truly Do Get What You Pay For

Ultimate_Service_Marketing_Logo

Real Estate commissions are too high!  Discount brokerages beat this drum all the time, but is it true?  Is a full service brokerage charging too much for what they do?  Do discount or flat fee brokerages provide exactly the same service, and more importantly, results, as a full service brokerage?

Here is the breakdown of what our company, Coldwell Banker Community Professionals, a full service brokerage, does for every one of our seller clients as a MINIMUM STANDARD.

  • We will fully explain your representation alternatives, and how they will affect your sale
  • We will create, with you, a marketing action plan to get your property sold
  • We will provide you with a comprehensive Competitive Market Analysis (CMA)
  • We will show you various financing alternatives and how they may help facilitate the sale of your home
  • We will furnish you with an estimated net proceeds of your sale, to assist you in your future plans
  • We will help enhance your home, by developing  a plan to showcase your property and enhance its ability to attract buyers
  • We will present your property to the Coldwell Banker sales team
  • We will promote your property to other reputable, professional Brokers and Sales Representatives who service your area
  • We will place your property on the LOCAL Multiple Listing Service
  • We will create a marketing resource to promote the details of your property, including specific highlights and photos/videos of your property, and showcase it online
  • We will prepare promotional materials regarding your property and arrange for their distribution to target market areas to attract potential buyers
  • We will offer to place a Coldwell Banker Community Professionals FOR SALE sign on your property to help generate calls to our office from prospective buyers
  • We will review with you our comprehensive marketing program designed to generate buyer prospects for your property.  We will explain how our placement on multiple websites will maximize the exposure of your property to potential buyers.  We will also discuss how we track online activity and more…
  • We will provide you with regular Marketing Activity Reports on competitive market conditions, buyer activity and the actions taken to market your property
  • We will review with you the home finding process that buyers are most likely to follow including financial qualifications, property selections, financing options and closing procedures
  • We will seek financial qualifying information on all buyers submitting an offer to purchase on your property.
  • We will review all purchase offers as they are presented, and we will negotiate on your behalf to reach a purchase agreement with terms that are favourable and protective for you
  • We will monitor and inform you of the progress of the transaction including the satisfaction of all contingencies and conditions during the transaction
  • We will contact you after the closing to follow up on any remaining details or service needs
  • We will provide you with details of our relocation and referral services, which are available to you at no cost regardless of where you are moving

The above is a list of the basic services offered.  Many of our real estate professionals offer additional services, whether it be staging, or pre-inspections, for example.

Also, our sales professionals are trained in negotiation skills, ensuring you have a strong advocate for your needs at the time of an offer presentation.

These steps that our sales professionals take, ensure that sellers net more from their home sale by using a full service REALTOR®.  The increased sale price reflects the benefit having a real estate professional on your side can make.

To find out what we can do for you, call one of our Coldwell Banker Community Professionals today.