Welcome Spring!

The calendar says Spring is here, even if the weather doesn’t.

Traditionally Spring is the time of year when new real estate listings flood the market, and everyone gets busy. The market this year has been going at a record breaking pace, but in spite of that, I hope that home owners will get excited by spring, and decide to put their homes on the market.

We have been experiencing an unprecedented shortage of homes for the number of buyers looking. Many feel the only way to correct the shortage is to have the government intervene, enacting more laws and restrictions.

These actions in the past year seem to have hurt the very buyers they were trying to help. New mortgage rules have made it more difficult for first time buyers to obtain a mortgage, only adding to the problem of soaring prices, and making it harder for them to save for the downpayment necessary.

There is talk of the government placing a foreign investor tax on those buying in the Toronto market, to help ease the inventory shortage, but those in the market say it’s not foreign investors causing the problem.

Many experts says that the only way out of the housing shortage is for more new homes to be built, in recognition of a slow down in new home construction last year.

Perhaps the seemingly easiest solution is for us all to get on with life. Many home owners I speak to are waiting. Waiting to see if prices go up. Waiting to see if more homes will come on the market for them to select from. Waiting to see if interest rates are going up. All these events are likely going to happen… the unknown is just how soon. If everyone who has been considering moving put their home on the market, perhaps our greatest issue would be solved – lack of properties to buy.

If you would like to find out if now is the right time for you to make a move, call one of our Coldwell Banker Community Professionals reps. They will be glad to help you make the right decision.

The Grass IS Always Greener Over the Septic Tank – Erma Bombeck was right

 

grass-is-always-greener

Most home owners may not have ever experienced this phenomenon, but those who have lived with a septic system know this is a fact…

If you are thinking of selling your home, curb appeal is especially important, as many buyers make up their mind whether they even want to look inside a home by driving past first. Whether you live in the city or on a rural property, keeping up your lawn and gardens can be a challenge, especially during summers like we just enjoyed.

Buyers are looking for well cared for homes, with lush, cared for grass. If you have gardens, they like to see them well tended, weeded, edged up, perhaps with a mulch cover to discourage weeds. Most hope for a finished driveway, whether paved, concrete, or interlocking block, that has been well maintained. In a rural setting, a gravel drive is common, but it still must be cared for, with a good gravel cover, distinct edges and no weeds.

If you are a true gardener, your efforts will garner attention. Many buyers love to see the gardens, and hope to become proficient at taking care of them. Buyers especially like to see perennial gardens, believing them to be lower maintenance.

Your lawn can be a big seller. That lush grass you can find over the septic tank appeals to buyers. If you can’t count on the septic bed to make your lawn look pretty, and you are planning to sell your home, prepare to keep your lawn well watered. You don’t need a weed killer company at your home, but regular maintenance to keep the weed population under control is necessary.

If you have a rural home, the lovely expanse of front lawn can make buyers anxious to see more…

If you are looking for more tips on how to make your home ooze curb appeal, speak to one of our Coldwell Banker Community Professionals. They have lots of tips and tricks up their sleeve to help you get top dollar for your home.

At Coldwell Banker Community Professionals, we don’t strive to be the biggest, we strive to be the best.

Flip or Flop

Flip-or-flopThere’s lot’s of money to be made flipping homes!

That may be true if you know what you are doing. HGTV makes it look easy… buy that neglected home, rip out the kitchen and bath… throw down that hardwood floor and you can make thousands, if not hundred of thousands of dollars…

It’s not that easy, as many renovators will tell you. In a hot market, the first challenge is to find that property listed at the right price, in the right neighbourhood, that you can renovate quickly, and not have to enter into a bidding war to purchase. Nothing to it, right?

Flipping houses truly comes down to the math. What you buy it for, plus the cost of renovations, plus the cost of carrying it while renovating, plus the legal and real estate fees, and plus your profit. The last item is the most important one. You cannot be flipping houses without having a reasonable profit built in. And keep in mind, that profit is taxed as income when you are in the business of flipping homes.

Still think flipping homes is a good idea? Call one of our Coldwell Banker Community Professionals, and have them help you find the right property at the right price to renovate.

It’s Too Hot!

 

images-3Am I talking about the weather or the real estate market? This year it could be either one.

Let’s start with the weather. In my opinion it’s never too hot! I just have to think about winter, and immediately the heat and humidity feel delightful. I didn’t even need to book a flight to get the island weather!

Moving on, let’s talk real estate… (pun intended). This year so far has been a tough market if you are trying to buy a home. Multiple offers have been the norm, and sadly missing out has happened too many times to too many buyers. Sellers are even hesitating to put their homes on the market… what can they buy? will their home be worth more if they hold on another month – 2 months – or more?

The ‘experts’ all have opinions on where the market is going. Some suggest 2017 will be an even hotter market than 2016, and yet others are still talking about the balloon that’s going to break and spiral us all into a quagmire of overpriced homes. The government keeps suggesting they need to intervene in order to slow our ‘out of control’ market.

Experience tells us that the market will correct itself. There are many reasons why people move, and they can only put it off so long. New jobs, adding to the family, retirement, divorces, to name a few. Sooner or later, sellers will decide they are not waiting any longer, and more houses will come on the market. Prices likely won’t decrease, as there are a lot of buyers waiting to absorb the available properties.

As a seller, if you are thinking about selling, now is a great time. It is a strong seller’s market, and summer sometimes sees fewer homes being put on the market.

Either way you look at it, this summer is HOT! Make sure you are part of it. Enjoy the weather, and good luck if you are trying to buy a home.

If you are looking for a great agent to help you, look no further than Coldwell Banker Community Professionals. Call us today to see how we can help you.

Are You Thinking of Buying or Selling? Here are 5 Reasons You Should Hire a REALTOR®

134i4zglh6isr_21Kitchen2438-web

When you buy or sell a home, often you are starting down a path you have never travelled before.  You need an experienced Real Estate Professional on your side to ensure you attain your goal.  It may seem easy to either sell or buy privately, with access to the information provided by realtor.ca. The following 5 Reasons to Hire a REALTOR® are even more important today, with all the options available through the internet and the information/misinformation that is out there.

  1.  Preparing and interpreting all the paperwork. There are many forms that need to be completed to buy or sell a home.  Also, there are many terms and conditions to consider to protect yourself in the transaction.  The last thing you want is a legal problem because something was missed.
  2. If you are buying, what do you do when you find your dream home? There are many considerations when you prepare an offer to purchase a home, from the decision of basics such as what is included in your purchase and moving dates, to what terms and conditions do you need to protect yourself in the purchase, and ensure that the  home you are buying is all that you think it is. Do you know the professionals to contact to have your new home inspected or to arrange the best financing?
  3. Are you a good negotiator?  Can you buy it for the lowest price possible or conversely sell it for the highest? Do you have the information you need to know what the home should sell for?  Can you remove your emotions from the negotiations?
  4. What is your home really worth?  Do you know how to price your home to attract the most buyers and generate the most offers?  We are currently experiencing a very robust market for sellers.  You want to maximize your sale price!
  5. Do you know what is really going on in the market? More particularly, do you know what is going on in your neighbourhood?  You need to know the specifics of the neighbourhood in order to know what price you should offer your home for sale at, or to know what to offer for your dream home.

By hiring a real estate professional you will have someone that will help you make an educated buying or selling decision.  They will tell you the facts, not what they think you want to hear.

Thinking of buying or selling?  Call one of our professionals at Coldwell Banker Community Real Estate.  They will provide you with the help you need.

Thinking of Buying a Home? 3 Questions Every Buyer Should Answer First

house 4 sale

If you are thinking about buying a home, you are likely getting lots of advice from friends and family. They no doubt have your best interests at heart, but there are three questions you should ask yourself to decide if NOW is the right time.

 

 

1. Why am I buying a home in the first place?

This is the most important question you should ask yourself, as if will determine if you should be buying, and if so, what is most important to you in your home buying process. Financing doesn’t matter if you don’t know what you really need.
Many studies have been conducted, and 4 major reasons consistently turn up. These reasons are:

  • A good place to raise children and for them to get a good education
  • A place where you and your family feel safe
  • More space for you and your family
  • Control of that space

What does it mean to you to own a home? What benefits will moving provide you with?

Once you have answered this question…

2. Where are home values headed?
Canada Mortgage and Housing Corporation’s outlook for 2016 indicates that the Hamilton-Burlington area will experience a moderate price increase this year. This area is an exception to the general expectation that prices will cool across Canada. For an in-depth review of the local market, be sure to speak to your REALTOR®

3. Where are mortgage interest rates headed?
A buyer must be concerned about more than just prices. The ‘long term cost’ of a home can be dramatically impacted by even a small increase in mortgage rates. If you have been watching the news lately, you will notice that a couple of the large banks have already increased their mortgage rates. While the increases are small, and likely will have a small impact on affordability, you should ensure that your financing plans consider the possibility that rates may increase over the next few years, as that could affect the affordability of your mortgage payment when your current mortgage comes up for renewal.

Bottom Line
Only you and your family will know for certain if now is the right time to purchase a home. Answering these questions will help you make that decision.

Be sure to speak with one of our real estate Professionals. They will advise you on the current market conditions, and help you make an informed decision.

STORM – WHAT STORM? WE’RE STILL WORKING!

H3149316_101_12H3149316_301_53

 

 

 

 

 

 

Our first real storm of this year hit hard early Sunday evening and finished up by mid-morning on Monday. It was pretty nasty with high winds, drifting snow, poor visibility, and so on.

I woke up early Monday morning and turned on the radio to listen to the list of closures. Schools, universities, community centres, and some businesses were closed. Our offices were also closed.

Finally, after more than three hours of shoveling sidewalks, driveways and helping our neighbours dig themselves out I was now able to get out and go to the office.

When I pulled into the parking lot there were already six cars at the office. One sales rep was negotiating a deal with his buyers and sellers. Another rep was reviewing listings with their client, and yet another was writing up an offer. After I completed what I had to do I returned home to do some more shoveling.

Later Monday evening I was reviewing all the new listings posted to the MLS® for the day. I came across a listing where the listing sales representative obviously took exterior pictures of the house that very morning as evidence by the tracks in the 3-4 foot snowdrifts.

After thinking about the day’s events, all I could think was, KUDOS to all the hard working REALTORS® out there who don’t let a little Canadian snowstorm get in their way!!