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Monday, August 6, 2012
5 LowCost Selling Tips
5 LowCost Upgrades to Help You Sell Your Home
If you're looking sell your house but cannot afford huge renos, these little changes can catch a buyers eye.
A fresh coat of paint is the easiest way to brighten up a room, which makes it a top choice for sellers on a budget. Opt for neutral earth tones rather than bold hues. You want potential buyers to imagine putting their personal touch on the place, not force them to fall in love with your style. Picky buyers look everywhere, so don't forget to retouch the trim and paint the ceiling.
Can't afford a cabinet upgrade? Trick the eye by installing new hardware instead. Switching out worn or outdated drawer and cabinet handles for brand new ones can make your storage look like it's been given a major face-lift -- for a tenth of the price. Choose modern fixtures that compliment the design and colour of your cabinetry.
The look of a kitchen can make or break a sale. Chipped, scratched or worn countertops are guaranteed to be an instant turn-off to potential buyers. Make them fall in love with your home by installing new ones. Laminate or ceramic countertops may be cheaper but are considered out-of-style in many neighbourhoods. If that's the case, opt to upgrade with Corian or Granite.
If your home doesn't get a lot of natural sunlight you can fool potential buyers by tricking it out with fabulous light fixtures. Affordable "wow" factor fixtures are available - just shop around.
Curb appeal isn't just a myth. Potential buyers will be more impressed if you have a nice front yard. This doesn't mean you need to sink thousands of dollars into new landscaping. Simply mowing your lawn, trimming the edges, and adding a few shrubs and flowers can be the ticket to instant beauty.
Saturday, April 14, 2012
My Home is Not Selling. What are YOU doing besides asking me to Drop the Price?
Pretty common complaint from Homeowners in Calgary. 'All you Realtors do is tell me to drop my price'. Lets look the common factors that influence how long a home takes to sell:
Obviously some things are in our control and others are not. Like always, we MUST focus on the things we can control:
Location is one issue which we cannot influence and only in rare cases can be mitigated. For example if you are near the C-Train or Major road way, you could construct a berm or sound wall which can mitigate some of the effect of sound. However this is a cost prohibitive and not something that makes sense financially for most homeowners. Obviously some locations are less valuable to buyers and your asking price must reflect this.
Condition of the property is one that can usually be controlled unless the condition is so poor as to render efforts useless. Usually the condition of your home is obvious prior to listing the property, but sometimes feedback from prospective Buyers and Realtors does uncover hidden issues. Very often, something as simple as a professional paint job will create a dramatic improvement in value and appearance. Other times you need to commit cash and resources to other repairs and improving the home to bring it up to current standards. If you are not prepared to do this then you must be willing to drop the price.
Time on market is literally Days On Market. MyHomeAgent provides you with average times on market for similar homes to sell and you should allow for at least this length of time in our marketing efforts. If the average time required to sell your home is NOT within your personal constraints then you must be prepared to drop your price.
Marketing is what MyHomeAgent does to create EXPOSURE for your home in today's competitive marketplace. Our Marketing strategy is tested and true and we commit full resources to selling your home. We exhaust all reasonable efforts to sell your home and have been doing this successfully for a long time.
Design concerns are lack of windows, small bedrooms, poor lighting, constrictive floor plan, small yard, etc etc. Some homes are faced with a serious dilemma of poor design and very little can be done to fix this. For example, creating open space by removing wall(s) may not be an option because of cost or engineering. If your home has negative design features then you must price the home accordingly.
Price must be market driven. Sellers need to understand it is detrimental to ask for more than comparable sales in the Calgary real estate market. So why does this happen? Most Sellers think their home is worth more than market value. Homeowners are emotionally attached to their home and usually get their information from asking prices in the neighbourhood or from friends. Good Realtors use current sales data to understand the market and homeowners are usually very surprised that the neighbours house sold for XX Dollars less than it was listed. At MyHomeAgent, we analyze market prices every day to ensure our pricing is always up to date.
Overall it becomes obvious that there are really only three factors we can control: CONDITION, MARKETING, PRICE.
So why do Realtors always suggest to DROP THE PRICE? 3 reasons:
What if the home is priced right and the marketing plan is valid? Sometimes it takes TIME. The price could be right, the marketing could be proper - but the home just needs time for the market to work. Ultimately some homes only appeal to select buyers.
MyHomeAgent uses the our exclusive ELITE SELLERS PROGRAM to deliver the best results for our Calgary clients. We focus on Results Driven Strategies that sell your home in Calgary's current Real Estate Market. Call MyHomeAgent today to discuss.
Friday, August 5, 2011
Top 8 Low Cost, High Return Renos
Enhancing curb appeal isn't as cumbersome - or costly - as it may sound. It's all about timely exterior prep to boost a property's value.
The exterior plays a HUGE factor in how quickly it sells and for how much. Very simply, it's all about the impact of curb appeal. What is curb appeal? It’s the ONE chance you have at making a great first impression. Buyers can be emotional and the first 20-60 second impression could make the difference between a sale or not (assuming you are priced correctly).
2) Paint exterior trim: You want people to notice a clean and proper exterior. So paint the window frames and battens if it's flaking off.
8) Landscaping: Maintain trees and shrubs, clean up your yard. Landscaping is tremendously important to overall curb appeal so ensure grass, trees and shrubs are properly maintained. And CLEAN up the yard. So many clients refuse to believe this, but think about what happens when you see a big mess? Immediately you think of work, time and cost.
Bottom line - there's nothing better than a well-maintained home. In today's buyers market these eight simple and low-cost steps can ensure you make a great first impression.
Tuesday, April 12, 2011
How Do I Sell My House Fast?
We at MyHomeAgent have had a great start to 2011 in helping our clients by selling their houses.
2011 STATS: MyHomeAgent
50% OF LISTINGS SOLD TO OUR BUYERS
We have outperformed other Realtors because we are committed to helping our clients achieve their goals. We are dedicated to Elite Service and Elite Results.
The Average Calgary Realtor has a 20% chance of selling your house, sells a house in 73 DAYS and gets 95.7% of asking price. * CREB DATA MARCH 2011
How are we different?
MyHomeAgent has Sold 62% of our listings in an average time of 42 days and we get 99% of asking price.
You want the best and we are delivering for you.
Call us TODAY and become an ELITE client. You deserve the best
Direct: 403-852-6583 | Office: 403-271-0600 | Fax: 403-592-8831
|Average Sale Price||Median Sale Price||Average
to Listing Price Ratio
|Single Family Home Sales||416||683||$442,546||$388,000||52.96||96.91%|
|Mobile Home Sales||3||3||$30,983||$7,950||125.00||80.37%|
|Combined Residential Sales||619||942
|Rural with Home Sales||36||21||$790,071||$650,000||99.52||95.44%|
|Rural Land Sales||7||1||$318,000||$318,000||27.00||97.85%|
|Total Rural Sales||43||22
|Total MLS Sales||662||964
The board’s Metro Resale Index, released Friday, said Calgary joins Victoria, Vancouver, the Fraser Valley, Regina, Winnipeg, Halifax and Newfoundland in that category.
The conference board said Calgary’s resale housing average price in December for all residential properties was $394,949, down from $401,590 in November and from $403,148 in December 2009.
Seasonally-adjusted annual sales in the city in December were 21,996, which were up from November’s 20,100 but down from 24,108 in December 2009.
Throughout Canada, the board said sales were higher in November in 13 of 28 markets surveyed but remained below year-earlier levels in 26 and “often by a wide margin.”
Earlier this week, Sano Stante, the new president of the Calgary Real Estate Board, forecast single-family home sales to increase by 19.9 per cent this year from 2010 and for the average MLS sale price to jump by 4.1 per cent to $480,000. He also forecast condo sales to see a 15.8 per cent annual increase with the average price rising by 1.8 per cent to $295,000 for the year.
14,500 transaction this year as a forecast averages out to 1200 sales per month. So would you rather sell your house when there is 6,000 listings or when there is 12,000 listings. Of course, the time to do it is NOW before the market is flooded with competition. And remember the mortgage rules change on March 18, 2011 so there will be LESS BUYERS for the same product in the summer.
Bank Of Canada Governor Mark Carney speaks and we all listen:
OTTAWA — An elevated Canadian dollar and the country’s poor productivity performance are set to hold back economic growth even as U.S. private-sector demand revs up, the Bank of Canada said Tuesday as it announced no change to its benchmark policy rate of 1%.
Those two factors also threaten to widen the country’s current account deficit even further from a 20-year high, analysts indicated.
Despite such concerns, the central bank said it nudged upward its outlook for GDP growth this year and next, as monetary and fiscal stimulus drives near-growth U.S. growth, and Europe performs better than expected sovereign debt woes notwithstanding. The central bank now expects the economy to expand 2.4% this year and 2.8% in 2012, up modestly from its October forecast of 2.3% and 2.6%, respectively.
A strong rebound in business investment -- as indicated in last week’s business outlook survey from the central bank -- is expected to offset a slowdown in consumer spending as households wrestle with record debt levels, and the gradual withdrawal of government stimulus. Furthermore, net exports are now set to contribute more to real GDP growth than anticipated.
OTTAWA -- Finance Minister Jim Flaherty is cracking down on Canadians' ability to qualify for a mortgage, in the government's latest attempt to rein in consumer debt.
Flaherty announced Monday the government is reducing the maximum amortization period for government-backed mortgages to 30 years from 35 years. The change will affect mortgages with loan-to-value ratios over 80 per cent.
Canadians will only be able to borrow up to 85 per cent of the value of their homes, down from 90 per cent.
In addition, the government is withdrawing backing for lines of credit secured by people's homes.
Flaherty said the changes are designed to prevent the kind of housing bubbles that developed in other countries, most notably in the United States, where the collapse of the subprime mortgage market triggered the global financial crisis.
Again: the TIME TO BUY IS NOW. Don't get surprised by this and have your hopes come crashing down in a few months. The government is giving ample warning.
This means if you wanted a $400,000 home with 5% down today, you would only qualify for a $370,000 home in a few months. That is $30,000 less of a home !
Call me today before it's too late
Buyers’ Market Continues in Calgary ( FROM CREB)
Home sales in the city of Calgary increase month-over-month in September 2010
Calgary, October 1, 2010 – Home sales in the city of Calgary were up month-over-month in September 2010, the first uptick in sales since April 2010. Year-over-year sales continued to trend lower in the month of September, but at a pace slower than previous months, according to figures released today by the Calgary Real Estate Board (CREB®).
The number of single family home sales in the month of September 2010 grew by 10 per cent at 958, compared with August 2010, when sales were 867. The number of condominium sales for the month of September 2010 was 366. This was an increase of 1 per cent from the 364 condominium transactions recorded in August 2010.
Year-over-year, the number of single family homes sold in September 2010 in the city of Calgary were down 24 per cent. In September 2009, single family home sales totalled 1,257. Condominium sales saw a decrease of 37 per cent from the same time a year ago. In September 2009, condominium sales were 580.
“There are signs that September may mark a gradual, if not slight, uptick for Calgary’s housing market—we are seeing a modest improvement since the market’s decline, that really started in April of this year,” says Diane Scott, president of CREB®.
“The Bank of Canada is in no hurry to raise interest rates to any significant level, and affordability continues to improve in key segments of the Calgary housing market. These factors, along with great selection, have clearly tipped this market in favour of the buyer,” says Scott.
“There are some great opportunities out there for buyers, particularly in the condo market. Currently, the highest volume price segment for condos is in the $200,000 to $300,000 range. We have not seen this kind of affordability in Calgary’s condo market in many years,” adds Scott.
The average price of a single family home in the city of Calgary in September 2010 was $460,278, showing a 3 per cent increase from August 2010, when the average price was $445,617, and no significant change from September 2009, when the average price was $459,085. The average price of a condominium in the city of Calgary in September 2010 was $284,028, showing a 1 per cent decrease from August 2010, when the average price was $286,384 and a 2 per cent decrease over last year, when the average price was $290,253. Average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods, or account for price differentials between geographical areas.
The median price of a single family home in the city of Calgary for September 2010 was $390,000, showing a 1 per cent decrease from August 2010 when the median price was 395,000. This was a 2 per cent decrease from September 2009, when the median price was $399,900. The median price of a condominium in September 2010 was $265,000, showing a 2 per cent increase from August 2010, when the median price was $260,000, and no change from September 2009, when it was the same – $265,000.
All city of Calgary MLS® statistics include properties listed and sold only within Calgary’s city limits. The median price is the price that is midway between the least expensive and most expensive home sold in an area during a given period of time. During that time, half the buyers bought homes that cost more than the median price and half bought homes for less than the median price.
“Clearly there is a shift in the types of buyers entering the market. It was first-time home buyers who drove the late market recovery last fall and this spring. While lower priced home sales have declined, home sales over $1 million have actually increased by 2% this year, as compared to the same period last year,” says Scott.
Single family listings in the city of Calgary added for the month of September 2010 totalled 2,252, an increase of 15 per cent from August 2010 when 1,960 new listings were added, and showing an increase of 21 per cent from September 2009, when 1,857 new listings came to the market.
“Unlike the volume of foreclosures we have seen south of the border, Canada’s market has seen only a small increase in arrears and foreclosures. Nonetheless this increase likely had a modest impact on our current inventory—we expect this to have a small influence on price and supply as they work through the market this fall,” noted Scott.