May 8, 2017 | Real Estate 101
Imagine finding the perfect home, only to discover there is serious interest from at least a dozen other buyers. It’s like scrambling for the last piece of cake at a buffet!
Fortunately, there are things you can do to help get the home you want, even in a highly competitive market. Here are just a few ideas:
- Only view a few ideal properties at a time. If you see too many, and thus spread yourself too thin, you risk homes slipping through your fingers.
- Be realistic about price. Focus on finding a great home that you can afford, rather than trying to find a bargain.
- Consider homes that need some work. They get less interest than perfectly staged properties, yet can turn out to be a dream home.
- Be prepared to make an offer with as few conditions as possible. An offer conditional on passing inspection is usually fine, but in a competitive situation, offers with other conditions will likely be turned down flat.
- Make your decisions quickly. If there are likely to be other interested buyers, you want to get your offer in early.
- Make the right offer. To win the deal, you want your offer to be as enticing as possible to the seller — especially when it comes to price.
Yes, it can be tough finding an ideal home in a hot market, but I can help. Contact me and I’ll show you how!
Email Beth for more information
May 3, 2017 | Real Estate 101
As baby-boomers advance into their retirement years, many will face decisions about their living arrangements, such as whether to retrofit their current home to address mobility issues, or downsize to embrace a less demanding lifestyle.
Whatever the expectations, it’s wise to plan ahead and budget for the future, when issues like health, self-sufficiency and social interaction may take on new or more critical importance. If you’re a long-term homeowner, you’ll have likely built up equity in your real estate investment, which puts you in a more favourable position to free up funds to meet your goals.
So, whether you’re planning extensive renovations or extended vacations, it’s wise to determine your home’s current market value compared to the cost of your long term plans in order to determine your financial leverage. Since real estate is an investment that can be liquidated relatively quickly, you might also consider selling or refinancing to release funds to address not only your future lifestyle needs and preferences, but also personal desires to donate to charities or plan for family inheritances.
Have questions?
Email Beth for more information
May 1, 2017 | Around the Wine Capital, Real Estate 101
If your condo building happens to have a significant influx of new residents, you may have witnessed situations where they’ve lacked knowledge of basic condo rules and procedures. From balcony etiquette and parking access, to recycling practices, inappropriate behaviour can become frustrating for established residents.
But, before you conclude that your new neighbours are thoughtless, consider whether they have been properly informed. They may not even know whom to ask when they are uncertain. As a condo owner, you have a right to insist that new residents get properly briefed with essential information. If you are convinced that this isn’t happening, approach your board and form a committee to hold personal orientation sessions for all new residents, ideally within their first few days of arrival.
Orientations don’t have to be onerous – consider a casual social gathering, with introductions to other residents and a “mentor adoption” plan to connect newcomers with someone to call in case of questions.
Apr 5, 2017 | Real Estate 101
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 for promoting your listing?
Email Beth for more information
Mar 22, 2017 | Real Estate 101
1Working with a professional provides peace of mind. REALTORS® adhere to a strict code of ethics, are insured and are committed to ongoing education. They have intimate knowledge of sales and trends in the local marketplace and their knowledge of contract law also ensures the paperwork is handled correctly.
2Get information on new listings first. Not only do REALTORS® have access to a multiple listing service, REALTORS® are also invited to exclusive “agent only” open houses that let them find out what’s on the market before anyone else.
3Market that property! Your REALTOR® will distribute information about your property to their network of other agents, industry partners, preferred clients and the public. This is a great help towards getting the word out that your home is for sale.
4They know your competition. When selling your home, your REALTOR® is the best person to provide you with up-to-date information on the marketplace. From their experience doing hundreds of transactions, they know the price and features of competing properties.
5Find the right property for your specific needs. REALTORS® can help source locations and homes that are specific to your needs. They also know where schools, hospital and amenities are located, and can advise on neighbourhood discrepancies.
6Help you to evaluate a property. REALTORS® know which inspections should be conducted on potential purchases including checks for termites, dry rot, and asbestos. They can also help you gain access to important information such as the title and sales history of the property. If issues are contained in the title report, a REALTOR® can assist you to resolve them before problems arise.
7Negotiating: Secure the best price for your home. REALTORS® are expert negotiators, and their experience can equate to thousands of dollars in your pocket. Along with helping you get the best price, they can assist with date of possession, and inclusion or exclusion of repairs, furnishings or equipment. The help of a REALTOR® will maximize your return and give you peace of mind.
8Get the best information on financing options. A REALTOR® can help you understand the carious financing options available and refer you to a qualified lender or mortgage professional/broker.
9Know what government programs can help. Your REALTOR® knows the most current incentives and rebates that help homebuyers. Government offerings on land transfer taxes, home buyer’s tax credits and buyer’s plans for first-time homeowners can help save thousands of dollars.
10Help you work with the best partners. Finding the right real estate lawyer, property inspector, tradesmen, movers and other service providers can be time consuming. A REALTOR® will have a list of people that they can recommend, saving you time and worry.
Need a REALTOR®?
Email Beth for your Real Estate needs
Content provided by:
Mar 20, 2017 | Market News, Real Estate 101
Vancouver, BC – March 15, 2017. The British Columbia Real Estate Association (BCREA) reports that a total of 6,580 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in February, down 31.7 per cent from the same period last year. Total sales dollar volume was $4.53 billion, down 39.7 per cent from February 2016. The average MLS® residential price in the province was $688,117, an 11.7 per cent decrease from the same period last year.
“Consumer demand has returned to a more typical level over the first two months of the year,” says Cameron Muir, BCREA Chief Economist. “While the home sales have declined nearly 32 per cent from the extraordinary performance of a year ago, last month’s activity reflected the average for the month February since the year 2000.”
The average MLS® residential price for the province was down nearly 12 per cent from a record $779,419 in February 2016. However, this change is largely the result of a decline in the proportion of provincial sales originating from the Vancouver region. Last month, 37 per cent of BC home sales occurred in the Real Estate Board of Greater Vancouver’s area, compared to 44 per cent in February 2016.
Year-to-date, BC residential sales dollar volume was down 38.5 per cent to $7.3 billion, when compared with the same period in 2016. Residential unit sales declined 28.5 per cent to 11,067 units, while the average MLS® residential price was down 14.1 per cent to $660,943.
Copyright British Columbia Real Estate Association. Reprinted with permission.
