About Ottawa's Centretown

When selling your house put out a big bowl of lemons or a big bowl of apples. Fruit lasts longer than flowers but still gives an organic impact. Watch out that they do not go bad.

In most cases, painting anything a bright yellow is just not as good as adding a few touches. A whole wall or room is just too much yellow. A few cushions, table decorations or photos/wall art with yellow will add a cheery note and not overpower the Buyers.

According to BBC Home the psychology of yellow:

Associated with: sunshine and energy, stimulates the intellect
Best for: kitchens, dining rooms or north-facing rooms
Pitfalls: not very restful for a bedroom. Yellow is thought to enhance feelings of emotional distress

After the sale...

If your sale has left you with a big bowl of lemons, make lemonade.

Photo credit: Lemon

Once upon a time a fellow decided to sell his home. His name was Seller Mark. He wanted a maximum price for his home because he had his eye on a newer bigger more expensive home in the best neighbourhood in town. Seller Mark was torn between getting a real estate agent and listing the home on his own. He interviewed a number of agents. They all gave him an idea that his home should be listed for no more than $400,000. But Mark wanted more.

With each agent, Mark said that he wanted a discount on their commission plus he had decided to sell his home for $480,000. Most agents debated the price, knowing that it would be difficult to sell Mark's home for that much money. Some agents agreed to reduce their commission, if Mark agreed to buy his next home through them. Mark thought he knew better.

Mark's final decision was to sell the home on his own and he lowered the price to $475,000 because he thought it might be a more attractive and lucky number. Mark believed in luck. Mark also told the agents that, despite their comparables and the price of other homes in his neighbourhood, he was willing to wait until those homes sold and then his would be the only home available. He believed that it only took one buyer to come along and love his home and pay what he was asking. Seller Mark considered himself an entrepreneur.

Time passed. The sign in front of Mark's house started to get sun bleached. The initial Lookie Loos who came to his Open House were no longer showing any interest. Mark was still waiting for all the homes in his neighbourhood to sell. He got calls from real estate agents asking if he would pay them commission to bring in a Buyer but Mark wanted his money so he said no. He stopped cleaning the house. It was months and there was no interest in his home.

Four months into trying to sell his home, Mark asked one of the original agents, Valerie, back for a discussion. She told Seller Mark:

• While he was waiting for all the homes to sell in his neighbourhood, others were coming on the market. He could not stop other listings and these were priced competitively. The market was not asleep while Mark's house was for sale.
• The comparables were a basis for pricing and for Buyers to determine value. When Mark priced his home too high, Buyers knew it. They also knew that Mark did not have an agent so no commission was involved. Buyers were avoiding Mark's house. The drop from $475,000 to $400,000 was too significant to generate an offer.
• Finally, Agent Valerie told Mark that his house had become stigmatized. It had lingered on the market too long and now Buyers wanted to know what the problem was with the house. They were concerned that there may be major structural issues or a haunting or a belligerent Seller. No one wanted to see or buy Mark's house.

Finally, Agent Valerie told Mark that he needed a new selling plan. He should not expect:

ANOTHER MARK TO COME ALONG.

Photo credit: http://www.flickr.com/photos/eivindw/4208845685/

The Skateway is now open and ready for skate enthusiasts. What a wonderful opportunity to enjoy the Rideau Canal in Ottawa. The Skateway is 7.8 km long. It begins near Canada's Parliament Buildings and goes along commercial and residential areas to a large manmade lake - Dows Lake. The water in the canal is lowered in the fall. In the above photo, you can see the cement sides to the canal, the bridges that cross it and in the background the very beautiful Chateau Laurier, a top rated hotel in the country.

For the past couple of weeks, we have had low enough temperatures to have the ice thicken. When it reaches a good depth, the canal is flooded (from water pumped up from below the ice), leveled as much as possible, scraped and snow removed after every snowfall. Thousands of people from around the world come to enjoy the canal and, in February, the Winterlude Festival.

If you don't skate, then walk along the canal and ejoy the skaters, the children being pulled in sleighs, the kiosks for hot drinks and the souvenirs. tasty treats such as the now famous Beaver Tails and then there are the warm-up areas. Everyone with a camera has fabulous photos of skaters on the canal.

Come to Ottawa to enjoy our winter.

Photo credit: http://www.flickr.com/photos/robbie1/99922517/

Buyers want to know everything they can about a house they are considering buying. One of the very first questions they ask is "Why is the owner selling this home?" That is a reasonable question. The Buyer is hoping to find out if there is something wrong with the house and how motivated are the sellers to accept an offer. How desperate are the Sellers? The Sellers' reasons may also impact the negotiated possession date. This is all part of the purchasing process.

In most cases, the real motivation for selling will never be revealed. Some Sellers do not discuss this with their agent and most Listing Agents will not and cannot, under agency, reveal the Sellers' position to potential Buyers.

Here is a look at some reasons why sellers are selling:

1. Upsizing: My family is growing, I need a bigger house.
2. Downsizing: This house is too big. I need something smaller.
3. Relocation: My company has moved me.
4. Schools: I need to be in a different school division for my children's special needs.
5. Family: I need to be closer to the grandparents for babysitting help.
6. Family: I need to be in a child friendly neighbourhood

Here are more reasons but the prudent Seller is unlikely to reveal these to Buyers:

1. Bored and Tired: I hate this house. Let's move.
2. Financial Opportunity: Flip this house. The market looks great. We can make a killing.
3. Family Problems: My partner is leaving and we need the money out of the house to "move on".
4. House Problems: This house has too many things to fix. Let's move and not have fix them.
5. Tainted House: Something horrible happened in this house.
6. Affordability: I can no longer afford this house - I need out.
7. Neighbours: I am not getting along with the neighbours. It is too tense living in the house.
8. Preemptive Purchase: I bought my next house and now have to get this one sold right away.

As you can see, there are a myriad of reasons for moving but only some reasons will be revealed. When you are buying, remember that the Seller, through his or her agent, is going to put the best spin on why the house is for sale. Expect to hear that the home is for sale because the Sellers want something bigger or smaller. Do not expect full disclosure as it may seriously impact the Seller's negotiating position.

In negotiations, he who cares least most often wins.

Back by popular demand, thanks to Christine Smith Canton I have featured today's good-bye snowman. This time the whole family got in the act - 3 for the price of 1. This ornament is tippy and mock wood and painted in hideous colours that fairly sing - Cheap, Cheap, Cheap. As with the others, out the door it goes. Say bye-bye to the Snow Family