About Fraser Valley, BC

I wasn't going to do a post about my birthday today - it hasn't been the best of birthdays......but heck its hard to beat those birthdays of old when you we were 5 years old!

Or 5+1 like like last year A Year Ago Today - Fifty and the Big ONE....A Happy Birthday....

I did get a slew of wonderful birthday messages and well wishes today on Facebook though - and they did sweeten my day - thanks gang I love ya!

And Sylvie did do a great B-Day post for me :-) HAPPY BIRTHDAY, LIZ MORAS - thank you friend! :-)

I didn't get the long awaited phone call from my daughter in England :-( but she did send flowers. My daughter from Toronto called and sent me some amazing colour changing mugs with family pics revealed in them as the mugs get hot) . It was my first birthday every without my girls...:-( However, I did have a nice dinner with my folks and son Chris - and I do know I'm blessed to have them still with me.

And i did get phone calls from cousins in Germany - and that was sweet.

Then tonight I got this email from my cousin Deb in Winnipeg - and I have to say it put a big smile on my face so I decided to share it - and maybe it'll make you smile too! :-)

Heppy birssdeh!

My deerest koozine,

I veesh you so heppy birssdeh!

Now you are vreal voman. You know about deh life. You know deh life is more den jest deh jum-busterd, or deh bol of straow berreese. You are vize. Evree vun hess to respekt you now!

So be heppy, heppy, heppy!
You are number vun!

End vee all vreelly luv you!
from coozine, Duda

So maybe our 'Special Day's' aren't always what we expect them to be. They're just something else. And something else is o.k. too :-)

p.s. can you guess which accent this is a play on? lol - think My Big Fat Greek Wedding - but not!

Thanks Deb for being my Windex! :-)

If you or someone you know is thinking of Buying or Selling property in Cultus Lake, Chilliwack, Hope, Abbotsford, Langley or anywhere in the Fraser Valley Area of B.C. - or if you would like more information please give Liz Moras of Landmark Realty Chilliwack a call at- 604-799-0459 or e-mail at lizmoras@gmail.com.

Copyright © 2009 By Liz Moras, All Rights Reserved. All information provided by this author is only an opinion, it is not guaranteed, may be based on information collected from several sources, and may be time sensitive. It is not necessarily representative of the opinions of Landmark Realty Chwk. Ltd..

So You Think You Want to Buy A Home? Here Are Some Helpful tips

Although not a comprehensive list here are some tips.

1. Get preapproved for a mortgage. I know we like to leave this for later in the game. But do yourself a favor and do it first! Rather than guessing or estimating how much you can afford to spend, ask a lender or mortgage broker to pre-qualify you - and while you're at it - get him to give it to you in writing.(please note the pre-qualification guarantee will be good for 30-90 days and if you have not bought in that time frame you will need to get an extension or update on the guaranteed rate.

How is he going to come up with that dollar figure? Well it'll be a combination of your household income, how good your credit is, interest rates, the type of loan you select and how much cash you have ready for the down payment and closing costs. You might be surprised that the amount may be much more or much less than you think.

2. Home Surf -Aren't we lucky that these days we have access to so much information online? This is a great place to start. We find our buyers to be extremely savvy as to sale prices, trends and homes on the market. The more educated you are about what's happening the more empowered you'll feel!

3. Find 'Your Realtor'! - this is probably a good time to think about choosing a Realtor. See How Do I Find a Good Realtor?

4. To have or not to have - that is the question!

We always talk about lists -and for a reason! I always advise my clients to make up a list of Must Haves and Non-Negotiable. If there are two of you deciding, check and compare lists! You might be surprised that your top 3's are different! You can be a bit more objective if you decide this in advance - otherwise you just might find yourself making your decision based on emotion alone. It's too easy to fall in love with a home that doesn't meet your needs! Two years later you'll be shopping again - Good For Me - but not so good for You!

Here are a few things to consider.

Location Location Location. We've all heard that but what exactly does it mean and why is it so important?

- Your Commute - how long is your drive to work;

- How good and close are the schools;

- If you're a Senior is public transport important, how about hospitals?;

- How about shopping? - do you have to drive 30 min. drive to the nearest mall?

- What or who are your neighbours;

- What is the zoning in the surrounding area?

- Think Resale - you haven't bought yet - yet you're supposed to think resale? Yes - because you'll probably be doing that one day so it doesn't hurt to think ahead!

- Size - Square Footage - what is the range/size of home you're looking for?' There are skinny houses

and there are fat houses! :0

- How many Bedrooms - Bathrooms? Do you need an office, guest room, gym?

- Style of Home - Basement Entry - 2 level - Rancher - do you want the bedrooms all upstairs, do you prefer a one level with no stairs.....and do you need a basement? Maybe you'd rather have a townhome or condo?

- Age - do you prefer new, or do you like it to be 'broken in'.......do you like a fixer-upper - or do you want it to be in 'move-in' condition?

- Lot size - with our busy lifestyles these days not everyone wants a big yard anymore.

5. Use a checklist.You have no idea how easy it is to get confused - no matter how good your memory is!Make up a checklist a head of time - or ask your Realtor if they have one - you can find great ones online as well! I often advise my clients to take photos - (with the permission of the owner of course). Now you don't want to do that with each home -but do it with the contenders!

6. How Many Homes should we look at at one time? Probably no more then 5-6 at a time - even that might be pushing it in terms of remembering what you've seen and where! :-)

7. What to wear? Lace Ups? Not such a good idea. Give the heels a miss too. Be comfortable and maybe layer your clothing!

8. Can I bring my kids? What about my Dog? - Probably not a good idea - It's important to be able to concentrate on what you're viewing - plus - kids can find it confusing, disruptive and scary thinking about moving - and looking at house after house - not knowing where home may be.

9. Breathe...No point in getting so stressed that all the fun out of buying a home is gone! Try to keep some perspective on the whole thing.

10. Have Fun! If you're blessed to be in a position to own a home - enjoy the process - with a thankful heart! :-)

If you or someone you know is thinking of Buying or Selling property in Cultus Lake, Chilliwack, Hope, Abbotsford, Langley or anywhere in the Fraser Valley Area of B.C. - or if you would like more information please give Liz Moras of Landmark Realty Chilliwack a call at- 604-799-0459 or e-mail at lizmoras@gmail.com.

Copyright © 2009 By Liz Moras, All Rights Reserved. All photos by Liz Moras ( except the one's I'm in!). All information provided by this author is only an opinion, it is not guaranteed, may be based on information collected from several sources, and may be time sensitive. It is not necessarily representative of the opinions of Landmark Realty Chwk. Ltd..

You Think Your House is Worth WHAT? Pricing Your Home to Sell

O.k., so you've looked on the Internet, you've checked the Real Estate Weekly - and you've talked to your Neighbors. You're pretty sure you know what you WANT your home to be worth. Next step? You call the Realtors in.

Everyone says you should interview 3 Realtors - so that's what you do! And sceptically you await their Verdicts! Does the highest Bid (because that's what it often is) win your Vote? Well it shouldn't and let me tell you why.

BUT Your neighbor's house just sold for XXXXX!

First of all, Realtors have access to the same information Online. By doing a CMA (Comparative Market Analysis) they should be able to come very close to the Range of Your Home's Value. They will see which homes are currently Listed, those that will be in direct competition with Your Home; they will see which comparable homes have Sold recently; and they will ALSO see which homes have 'Expired'....(Listed But Not Sold). That's the Starting Point!

If you use a Local Realtor - which is what I Recommend- they'll also be able to take into consideration different factors about your neighborhood - like development, schools, safety, proximity to transport etc.

BUT Your House has been upgraded!

Now where no 2 homes are exactly alike - chances are we've seen most of the homes for sale in your area and have an inside view that you may not have seen. Even online photos won't give you a complete view of how these homes compare.

In many ways - it's the Buyer that ultimately determines the value of your home. A house is worth what somebody will pay for it. It's important to try and anticipate what MOST buyers will pay for it. If the price is too high - you may just end up remaining THAT Buyer! If your home should by some chance sell for more then the estimated value, remember the home still needs to be Appraised for the Buyer's Bank, and if it's overpriced it just may not!

BUT That's What INEEEEEEEED to Get for My Home!

There is the odd time that a home is unusual and there are not direct comparables, sometimes this requires a trial and error strategy where we have to gage potential buyer responses in order to fine tune the price.

Another factor is the current 'Real Estate market'. Is it a Buyer's market or a Seller's market - or is it balanced? What kind of standing inventory is in the market in your price range. These will all factor in to your pricing.

The value of a home can also be estimated in part by using the price per square foot calculation. But you do have to use a sliding scale of adjustment. The 'core' of the home is worth more then the peripheral square footage. ie. the price per sq. foot for a 1000 sq. foot rancher will be higher then that of a 3000 sq. ft. basement home.

Should you start higher - after all - you can always come down??? No! If you do that you should be charging your competitor a fee for helping them sell THEIR home!

Remember the most critical time for selling your home is in the first 30 days. Longer then that you can bet your bottom dollar, (and unfortunately that's probably what it will end up being) that the Buyer will be paying attention to your 'days on market' when making both their buying decision and price point!

How do you know if your house is priced right? Feedback! Your Realtor will be calling to get feedback on showings from both the Buyer and their Realtor. If you've had over 6 showings and have been on the market for 3 or so weeks that should give you some idea of what the market thinks. Unusual or high end homes could be the exception here though.

Sometimes the most important factor is YOUR motivation. How motivated are you to sell? I know a lot of Seller's like to tell us that 'they don't HAVE to sell'.......and in most cases that's true - you don't! But if you do want to sell your home call a Realtor that knows your market and will be honest with you - because that's what a professional does - they Help you Price Your Home to Sell!

If you or someone you know is thinking of Buying or Selling property in Cultus Lake, Chilliwack, Hope, Abbotsford, Langley or anywhere in the Fraser Valley Area of B.C. - or if you would like more information please give Liz Moras of Landmark Realty Chilliwack a call at- 604-799-0459 or e-mail at lizmoras@gmail.com.

Copyright © 2009 By Liz Moras, All Rights Reserved. All photos by Liz Moras ( except the one's I'm in!). All information provided by this author is only an opinion, it is not guaranteed, may be based on information collected from several sources, and may be time sensitive. It is not necessarily representative of the opinions of Landmark Realty Chwk. Ltd..

If you or someone you know is thinking of Buying or Selling property in Cultus Lake, Chilliwack, Hope, Abbotsford, Langley or anywhere in the Fraser Valley Area of B.C. - or if you would like more information please give me a call! Meeting Your Real Estate Needs is My Number One Goal!

Liz Moras of Landmark Realty Chilliwack @ 604-799-0459 or e-mail at lizmoras@gmail.com.

Copyright © 2009 By Liz Moras, All Rights Reserved. All information provided by this author is only an opinion, it is not guaranteed, may be based on information collected from several sources, and may be time sensitive. It is not necessarily representative of the opinions of Landmark Realty Chwk. Ltd..

What's Your Commission? On Hiring a Realtor Based on their Fee...

I always say (oh well maybe somebody did say it before me) - if the Realtor cannot negotiate their own Commission then how are they going to negotiate the best price possible for your home? Negotiation skills. I would think, given a choice - you would want an aggressive negotiator, not someone that either doesn't believe in their own ability or the value of your home!

The question that begs to be asked is....Why do some Real Estate Agents offer Discounted Fees? Is it because they're the Good Guy? They just want to see more money in your pocket then theirs?

Well there could be a number of reasons:

- they feel that's the only way they can compete

- they have poor negotiation skills

- they have trouble justifying their own worth

- they're hoping to make up for it in volume

- the agent is desperate - any commission is better then no commission

- qualifications/experience of the Realtor

- you're willing to do the marketing instead

- they feel sorry for you

- they believe in pro bono

- having a sign on your lawn is more important then the commission

So let's do a little review.

Did you know that the commission the seller pays is split between the Selling Agent (the person with the buyer) and the Listing Agent (the person with the seller). So if the commission is 6% then typically 3% will go to the Selling Agent and 3% will go to Listing Agent. Sometimes we Realtors assume that you know that! However I'm pretty sure that some of you think we get the whole kit and caboodle!

Do you know that there are Real Estate Companies out there that Do Not put your home on The Mutiple Listing System (MLS)? They have this 'exclusivity' thing happening. They think that their paycheque might be a lot bigger if they do not have to co-operate and share their commission if they get to to List AND Sell your home. Be sure to ask them what portion of the commission you are paying will be going to the Selling Broker. How much longer do you think it will take to sell your home if it's only YOUR AGENT that's trying to sell it? I think I read somewhere that it's like 16:100 odds.

When looking at an MLS Listing - the Selling Agent can see the commission they will be paid. It may not show up on the Public Version - but that information is disclosed in the Realtor's version. Note: It's the Selling Agent that reviews the properties for sale in the MLS and most often choose those they deem appropriate for their buyer. Guess what? Herein lies the conundrum.

Now put yourself in the Selling Agent's shoes. You can sell House A or could sell House B. But house A will pay you $1,000, $4,000, $7,000 or MORE! You have mortgage payment, bills, & children to support. Which house would you like to sell?

Did you know that unlike Doctors, Lawyers and Government Employees - Realtors are not paid per hour. But we do take all the risk by putting our time & money into advertising YOUR property in order to get it sold. Chances are we also have an OFFICE cost, MLS Fees, Board Fees and more! Do you know that we only get paid if the Seller sells and the Buyer buys? If they don't our costs are not recovered.

So no - commission is not regulated - there is no set rate if you're selling your home - but it IS a good idea that the commission you're paying the Selling Realtor is in-line with the rest of the comparable houses on the market. Market slow? Well in that case you might even consider offering a greater sales commission or a sales bonus. You say WHAT??? But look at it this way. For every week/month your home doesn't sell - how much will THAT cost you? You get to choose!

Still think you'd like to go with a Discount Broker?

*Please note - this is not meant to suggest that the Commission fee charged is the only criteria - there are many, many different aspects to hiring the right Realtor. Please check out these posts:

How Do I Find a Good Realtor?

Is It Wrong to Work With More Then One Realtor?

Speaking of Statistics...What's the Difference Between Median Price and Average Price?

Don't Have a Site Survey - Title Insurance - Should You Get It?

If you or someone you know is thinking of Buying or Selling property in Cultus Lake, Chilliwack, Hope, Abbotsford, Langley or anywhere in the Fraser Valley Area of B.C. - or if you would like more information please give Liz Moras of Landmark Realty Chilliwack a call at- 604-799-0459 or e-mail at lizmoras@gmail.com.

Copyright © 2009 By Liz Moras, All Rights Reserved. All photos by Liz Moras ( except the one's I'm in!). All information provided by this author is only an opinion, it is not guaranteed, may be based on information collected from several sources, and may be time sensitive. It is not necessarily representative of the opinions of Landmark Realty Chwk. Ltd..