There's a lot of competition in the housing market these days and you are bound to be up against other similar listings. That is why it's important to make sure your property is in a good state of repair to make that good first impression on potential buyers.
We become so familiar with our surroundings over time that we may not always see our home as a fresh eye might.\
The good news is that these types of repairs are relatively inexpensive, yet make your home show significantly better.
1. DOORWAYS - Inspect all your entry systems closely. Look for sagging screens, cracked glass, squeaks and aging or broken parts. Consider giving your doors a fresh coat of paint.
2. ROOF - Check for missing shingles and have replacements intalled when necessary. Inspect the gutters and remove all accumulated debris.
3. WALLS - Look for nail pops, holes and dents. Patch and paint where necessary.
4. TOILETS - Anchoring nuts tend to corrode over the years so make sure all toilets are secured firmly and replace if necessary.
5. FAUCETS - Inspect ALL faucets. Repair or replace them if necessary.
6. CABINETS - Kitchen and bathroom cabinets get scratched and worn over the years. There are many great scratch repair products on the market that can make your woodwork look almost new.
7. DECKS AND GATES - Loose boards or railings? Sagging gates? Buyers will notice so get them fixed.
INFORMATIVE AND USEFUL INFORMATION
ABOUT THE CURRENT REAL ESTATE MARKET
& YOUR HOME WHETHER YOU ARE BUYING, SELLING OR STAYING.
ABOUT THE CURRENT REAL ESTATE MARKET
& YOUR HOME WHETHER YOU ARE BUYING, SELLING OR STAYING.
THIS BLOG IS UPDATED ON A REGULAR BASIS
This website is maintained by Iris Sikina. Comments added by the public are not guaranteed and will be removed if found to be inaccurate or offensive.
Tuesday, September 29, 2009
RE/MAX Bricks & Mortar Report
Canadian housing markets buck recession and trend upwards, says RE/MAX
With the worst of the recession over, residential real estate markets in major Canadian centres are poised for growth in the final quarter of 2009, according to a report released today by RE/MAX.
The RE/MAX Bricks and Mortar Report found the bounce back that began in early Spring has made this recession one of the shortest on record. Low interest rates, pent-up demand, and improved affordability levels have all played a role in the recovery now well-underway. Percentage increases in unit sales from January to August 2009 were led by Vancouver, (up a substantial 14 per cent to 23,158), Victoria (up 7.4 per cent to 5,266), Edmonton (up 6.2 per cent to 13,691), Regina (up five per cent to 2,597), Ottawa (up 2.4 per cent to 10,830) and Toronto (up 1.8 per cent to 58,421). Housing values are already ahead of record-breaking 2008 levels in seven of the 11 markets surveyed, including Newfoundland-Labrador (18.1 per cent year to $203,584), Regina (6.4 per cent to $244,088), Halifax-Dartmouth (3.5 per cent to $239,633), Winnipeg (3.5 per cent to $207,006), Ottawa (3.3 per cent to $301,684), and Toronto (up 0.3 per cent to $385,978). Nationally, average price hovers at $312,585, up 0.5 per cent over one year ago.
The strength of the residential housing sector cross-country has taken many economists and housing analysts by surprise once again. In terms of its impact on the resale market, by historical standards, this recession was one of the mildest. The resilience of bricks and mortar has been demonstrated time and again. While there may still be some challenges down the road, the worst is definitely behind us in the housing industry.
The recovery of Canada’s resale housing markets speaks to the tremendous value Canadians place on the importance of owning a home. The number of Canadians overall who own a home has increased since 1981 from 62.1 per cent to 68.4 per cent, with some markets posting even higher homeownership rates -- Calgary (74.1), St. John’s (71.5), and Regina (70.1). Significant gains have also been made over the same period in markets such as Ottawa, where levels rose from 51.4 per cent to 66.7 per cent, and Toronto, where levels rose from 57.3 to 67.6 per cent.
Public sentiment can perhaps best be illustrated by a recent Angus Reid Omnibus Survey* that asked the question “In which do you feel more comfortable investing your money? The stock market or real estate.” Out of 1,000 respondents from coast-to-coast, 77 per cent chose real estate. The results of the RE/MAX Bricks and Mortar Report are clearly representative of this national dynamic at work.
Markets are heating up across the country as purchasers take advantage of affordable prices and rock bottom interest rates. Those who missed the boat in years past have found that sitting on the sidelines can be a costly move. Prices are on the upswing and inventory levels are tightening, so the push toward homeownership is expected to continue throughout the Fall and possibly into early 2010.
Over the past thirty years, the Canadian residential real estate market has experienced three major downturns – 1981, 1989, and 2008. While there have also been regional fluctuations throughout the years, return on investment over this period has been substantial, with Vancouver, Victoria, Toronto, Regina and Ottawa leading the country in terms of price appreciation.
The overall stability of real estate as an investment has also played a role. Markets like Halifax-Dartmouth, Regina, Ottawa, Winnipeg and London have provided steady returns (especially in recent years), with minimal fluctuation.
* The Angus Reid Omnibus Survey was conducted on September 15, 2009 and yields a margin of error of +3.1 per cent, 19 times out of 20.
Canadian housing markets buck recession and trend upwards, says RE/MAX
With the worst of the recession over, residential real estate markets in major Canadian centres are poised for growth in the final quarter of 2009, according to a report released today by RE/MAX.
The RE/MAX Bricks and Mortar Report found the bounce back that began in early Spring has made this recession one of the shortest on record. Low interest rates, pent-up demand, and improved affordability levels have all played a role in the recovery now well-underway. Percentage increases in unit sales from January to August 2009 were led by Vancouver, (up a substantial 14 per cent to 23,158), Victoria (up 7.4 per cent to 5,266), Edmonton (up 6.2 per cent to 13,691), Regina (up five per cent to 2,597), Ottawa (up 2.4 per cent to 10,830) and Toronto (up 1.8 per cent to 58,421). Housing values are already ahead of record-breaking 2008 levels in seven of the 11 markets surveyed, including Newfoundland-Labrador (18.1 per cent year to $203,584), Regina (6.4 per cent to $244,088), Halifax-Dartmouth (3.5 per cent to $239,633), Winnipeg (3.5 per cent to $207,006), Ottawa (3.3 per cent to $301,684), and Toronto (up 0.3 per cent to $385,978). Nationally, average price hovers at $312,585, up 0.5 per cent over one year ago.
The strength of the residential housing sector cross-country has taken many economists and housing analysts by surprise once again. In terms of its impact on the resale market, by historical standards, this recession was one of the mildest. The resilience of bricks and mortar has been demonstrated time and again. While there may still be some challenges down the road, the worst is definitely behind us in the housing industry.
The recovery of Canada’s resale housing markets speaks to the tremendous value Canadians place on the importance of owning a home. The number of Canadians overall who own a home has increased since 1981 from 62.1 per cent to 68.4 per cent, with some markets posting even higher homeownership rates -- Calgary (74.1), St. John’s (71.5), and Regina (70.1). Significant gains have also been made over the same period in markets such as Ottawa, where levels rose from 51.4 per cent to 66.7 per cent, and Toronto, where levels rose from 57.3 to 67.6 per cent.
Public sentiment can perhaps best be illustrated by a recent Angus Reid Omnibus Survey* that asked the question “In which do you feel more comfortable investing your money? The stock market or real estate.” Out of 1,000 respondents from coast-to-coast, 77 per cent chose real estate. The results of the RE/MAX Bricks and Mortar Report are clearly representative of this national dynamic at work.
Markets are heating up across the country as purchasers take advantage of affordable prices and rock bottom interest rates. Those who missed the boat in years past have found that sitting on the sidelines can be a costly move. Prices are on the upswing and inventory levels are tightening, so the push toward homeownership is expected to continue throughout the Fall and possibly into early 2010.
Over the past thirty years, the Canadian residential real estate market has experienced three major downturns – 1981, 1989, and 2008. While there have also been regional fluctuations throughout the years, return on investment over this period has been substantial, with Vancouver, Victoria, Toronto, Regina and Ottawa leading the country in terms of price appreciation.
The overall stability of real estate as an investment has also played a role. Markets like Halifax-Dartmouth, Regina, Ottawa, Winnipeg and London have provided steady returns (especially in recent years), with minimal fluctuation.
* The Angus Reid Omnibus Survey was conducted on September 15, 2009 and yields a margin of error of +3.1 per cent, 19 times out of 20.
Thursday, September 10, 2009
Is your home fit to sell?
Preparing a home for sale requires more than an average cleaning. Most sellers understand that they must keep their house neat and tidy in order to attract potential buyers, but many may be overwhelmed or sidetracked when faced with seriously removing clutter. Beyond dusting and scrubbing, a de-cluttered home shows off its spaciousness and allows potential buyers to imagine themselves living there.
Here are a few proven strategies to help homeowners take control of their space.
EMPTY IT OUT
Once you have identified your clutter hot spots it's time to pull everything out of that closet, shelving unit, or drawer and sort through what you really do and do not need. Start slowly and resist the urge to go into a frenzied clean. A successful purge requires time, commitment and motivation.
THE USELESSNESS OF POTENTIAL
Sometimes the hardest things to let go of are the things we've never used. Giving up on the idea of what that thing could be is an important part of letting it go. This is true for the things we've used but may never use again. A good rule of thumb: if you haven't used it in a year then you probably don't need it.
GIVE IT A HOME
Staying organized sometimes means finding a place for something and keeping it there. Key rings, newspaper racks, bill holders, and plastic storage containers can all help calm that "where did I put it?" frantic feeling.
GET IT OUT
Once you have made a pile of things to be cleared out the final step is making sure it gets out of your house! A yard sale can clear out the clutter and bring in some extra cash. If putting together a sale is too much work, donate your extra goods to your favorite local charity.
KICK THE HABIT
Once you've cleared out the clutter, it's important to adopt habits that prevent the problem from occurring again. Establish routines to help such as sorting mail over the recycle bin, always keeping a "give away" box in your hallway, and thinking twice about whether or not you really need something before you buy it. Cutting down is another way to fend off clutter!
KICK THE HABIT
Once you've cleared out the clutter, it's important to adopt habits that prevent the problem from occurring again. Establish routines to help such as sorting mail over the recycle bin, always keeping a "give away" box in your hallway, and thinking twice about whether or not you really need something before you buy it. Cutting down is another way to fend off clutter!
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