Currently, the Real Estate market in Calgary and surrounding areas such as Okotoks, Cochrane, Airdrie, High River, is all over the place. Some areas are appreciating more than others. In fact, some areas are depreciating, while others remain essentially the same as the past year; within 5 - 7%.
Knowing what your home would sell for in today's market is essential to know before taking the steps to do so. With a "Right Price Analysis" (more commonly referred to as a home evaluation) together, we'll be able to determine if it's the right time for you to sell, determine a price that will be fair for you as well as allow your home to sell in a reasonable amount of time; and much more.
With a "Right Price Analysis" by The Jay Magnussen Real Estate Team, you know exactly what your property is worth today.
What do you get with a "Right Price Analysis"?
Free information about:
For YOUR "Right Price Analysis" log on to www.SoldByJ.com or call 403-650-7332.
Clutter - to fill or litter with things in a disorderly manner; a state or condition of confusion.
Read any 'Top 10 List' of things to do to prepare your home for sale and "Get Ride of CLUTTER" is sure to be found. But how important IS cleaning up really? Can't a buyer look past a little but of clutter?
The answer lies in the psychology behind clutter...
Clutter, in the form of an overstuffed closet, a disorderly garage, a jam-packed living space, can make people feel uneasy. In a study from the Journal of Family Psychology, clutter was linked to depression.
In addition, clutter can create a feeling of hesitancy. If the sight of clutter can shit people down, they won't want to do anything - like make an offer!
Clutter can also draw attention to the wrong things. Instead of seeing a big double garage, prospective buyers might see boxes, lawn equipment, sports equipment, camping supplies... Instead of a warm and inviting master bedroom, people may see stacks of laundry, too many photos or items on the walls, chunky furniture... Clutter can instantly turn a great selling point into a major turnoff.
And as if that's not enough, clutter has a knack for making spaces (even large ones) appear smaller. A big spacious master bedroom walk-in closet can seem very small when stuffed with clothes, boxes, hampers and more.
Don't underestimate the psychology behind clutter. Getting rid of clutter and temporarily storing some items can be your greatest investment when preparing your home for sale, and is also one of the cheapest things you can do to make your home more attractive.
Curb Appeal
What's curb appeal?
It's that certain something about your home that catches the eye of the passer-by and makes them want to take a closer look. If you're selling your home, curb appeal can quickly draw prospective buyers in for the first time. Without it, buyers may pass up on the chance to see inside and will miss what might have been the perfect home for them.
-Keep your lawn neatly trimmed and edged.
-Trim trees and shrubbery to get rid of overhanging branches.
-Turn over the soil in your flowerbeds.
-Plant or pot flowers and small shrubs.
-Keep your porch, driveway and front yard clutter free.
-Remove garbage bins as soon as possible after pick-up, and avoid any build-up of junk mail.
-Repair or replace broken steps or walkways.
-Freshly painted woodwork is often well worth the time and money invested in it.
-Wash your front door and windows.
-Open blinds, curtains or shutters to give your home an inviting, welcoming look.
- Pull weeds, rake leaves, remove grass from sidewalk cracks, shovel the front walk, etc.
Curb Appeal Exercise
The next time you come home, stop across the street or far enough down the driveway to get a good view of the house and its surroundings.
1. What is your first impression of the house and yard area?
2. What are the best exterior features of the house or lot? How can you enhance them?
3. What are the worst exterior features of the house or lot? How can you minimize or improve them?
There are less MLS listings in this third quarter which indicates a stabilizing real estate market across the country, according to statistics released by the Canadian Real Estate Association (CREA). New MLS residential listings in Canada's major markets (Calgary, Vancouver, Montreal, Toronto, Edmonton..) numbered 146,637 units. This is 3.3% below the highest level on record, set in the previous quarter.
The trend stands out most in Edmonton and Calgary, where a sharp drop in new listings and rising sales activity has firmed up the resale housing market considerably since the beginning of the year, followed by declines in Vancouver and Montreal.
There are a number of facotrs that will have an impact going forward including the recent drop in the Bank of Canada rate, and the new rules reducing the maximum amortization to 35 years instead of 40. Those new mortgage rules went into effect October 15 which may be a good indication of third quarter trends.
"Price declines in some of Canada's more expensive housing markets will outweigh further price gains in other markets and continue pulling the national average price lower over the rest of the year and into 2009," said CREA® chief economist Gregory Klump.
Global economic turmoil will continue weighing on Canada's growth. As the Canadian housing market and pricing environment cools, the number of days on market for sales is likely to rise. Canadian home sellers are under no financial duress to sell, and several may decide to take their home off the market should it remain unsold when the listing expires.
Are you considering financing your new home purchase? If so, take notes...
The Canadian Federal Government is making significant changes to some controversial lending protocols in Canada. The primary changes are 1) the elimination of the 40 year amortization period and 2) the elimination of O% down mortgages.
According to CTV News and many mortgage brokers, the intent behind this policy is to prevent a U.S. style market melt down. Right policy - wrong timing??? But it's better late than never.
The impact of this move is also lessened by the fact that in Alberta, generally speaking, housing prices have become more affordable than last year. One of the reasons the 40 year amortization period was brought in was to deal with the rapid acceleration of housing prices.
A press release from the Government of Canada released on July 9, 2008 stated the new measures that were to be implemented on October 15, 2008 which include:
- Fixing the maximum amortization period for new government-backed mortgages to 35 years;
- Requiring a minimum down payment of five per cent for new government-backed mortgages;
- Establishing a consistent minimum credit score requirement; and
- Introducing new loan documentation standards.
The press release also reassured home owners "these measures relate only to new, government-backed insured mortgages, Canadians who already hold mortgages will not be affected by this announcement."
For more information on the new mortgage constraints consult your mortgage broker.
To view the Government of Canada Press Release, click here: http://www.fin.gc.ca/news08/08-051e.html
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The Jay Magnussen Real Estate Team specializes in Calgary & Okotoks home buying and selling.
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