According to this realtor.com post, the number of real estate appraisers is dropping to the point where parties on both sides of real estate transactions could suffer. Since most residential mortgages need an appraisal before a sale closes, a shortage of appraisers will affect buyers, who rely on accurate valuations to structure their offer, and sellers, who can lose a deal if appraisals come in low. The Appraisal Institute notes the number of appraisers has dropped 20% since 2007 and predicts a 3% annual decline for the next decade. Fewer appraisers means longer waits, which could delay a closing. That
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Archives for Sellers
Boost Your Curb Appeal with 4 Doable DIY Projects
Most sellers realize that preparing the interior of their homes for viewing is essential. In this article, Bob Villa explains it is just as important to stage the exterior of your house as it is to prepare the inside rooms when you are selling. For example, a clean, well-maintained yard will signal that you have taken care of the property during your time as owner. Power washing the garage door, driveway and fences will add to that impression. If you are upgrading the paint, determine whether accent painting (shutters, columns, etc.) or a whole-house job is required. And,
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6 Sneaky Ways to Make Your Home Look Expensive
If you want to convert your home’s look from average to exceptional, this Realtor.com post by Jamie Weibe tells you how. Remove mismatched decor items, store toys/magazines and organize your things to fix a cluttered appearance. Clean and re-grout tile to make it look new. Use traditional, neutral tones to freshen paint in areas that need it. Upgrading hardware, faucets or countertops are all relatively inexpensive ways to give kitchens and bathrooms a more luxurious appearance. Adding or rearranging lighting can create an illusion of space and separate rooms. To read more click here. This article was first published
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Not Only Millennials Want Walkable Communities
A walkable community is well-planned, compact and designed for people to walk to work, school, parks restaurants and activities as a form of everyday transportation. According to a National Association of Realtors survey, more and more buyers want to live in walkable communities. The study found that fully 12% more Millennials, the generation born between the mid 1980’s and early 2000’s, would rather walk to their destination than drive. But, fitness enthusiasts and eco-friendly individuals also desire walkable neighbourhoods. Aging In Place Older Canadians want neighbourhoods that better fit their changing requirements. As baby boomers enter their retirement years,
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How to Stage Your Home for Fall Showings
This Zillow.com post by Nathalie Wise suggests that the time and cost of staging your home can result in higher sale prices and less time on the market. Remove clutter, store items that could distract viewers and move furniture away from walls to make your spaces appear larger. Clear counters and deep clean everywhere because it’s still the best way to make a house shine. Allow potential buyers to visualize themselves in the home by taking down family pictures that could impede their imagination. Open curtains to let in natural light and hang mirrors to bring light and life
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How Will Real Estate Markets React To The Liberals' Election Victory?
The Liberal Party’s successful election campaign included a promise to stimulate the economy by increasing infrastructure spending with deficit budgets. How will these changes effect the country’s real estate market? Until details are released, the exact consequences are difficult to determine, but some possibilities have emerged. Foreign Investment We don’t know what will follow the Liberals’ change in fiscal direction (deficit spending versus balanced budgets), but, if the promised infrastructure spending materializes, it could boost annual growth in 2016 and 2017 “by up to 0.1 and 0.3 percentage points respectively,” according to a TD Bank report.
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6 Misperceptions About Home Staging
In this insightful Realtor Magazine post, interior decorator and professional stager Patti Stern explodes six myths about home staging. The Cost of Staging For example, some sellers consider staging too expensive. In reality, it actually saves you money because 95 percent of staged homes sell in 11 days or less and sell for 17 percent more than homes that are not staged. Thus, staging costs are lower than the carrying charges (mortgage, utilities) you will pay if the house takes a long time to sell. The Difference Between Decorating and Staging She also points out that decorating and
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Home Improvements – Do It Yourself Or Hire A Professional?
Completing a DIY project can be tremendously fulfilling and financially rewarding. But, bite off more than you can chew, and you might be looking at some major expenses to fix the damage or, even worse, a catastrophic incident. Before grabbing your toolbox, accomplish a quick risk-reward analysis. Then, determine if you have the skills and tools for the project. Finally, decide if you have the available time and are inclined to invest it in the task. These guidelines will help you decide whether to swing a hammer or write a cheque. Reno Risks And Rewards First weight the expected benefits
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How Will Legalized Pot Affect Canadian Real Estate Markets
No matter what you think about the ethics or morality of legalizing marijuana, Justin Trudeau’s Liberal government has promised to do just that during their first term. The fact is, we started down that path when medical marijuana was legalized. So, how will this impact real estate markets in Canada? The Colorado Housing Market Exploded We see clues to the impact of mainstreaming the recreational marijuana business in Colorado, the first state to replace prohibition with regulation. On 01 January 2015, they celebrated their first year with operational adult use marijuana stores and, perhaps coincidentally, there
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Market Update | Ottawa Real Estate Stats October 2015
Here are the latest statistics from the Ottawa Real Estate board. Statistics are useful in establishing trends but should not be used as an indicator of an increase or decrease in value of specific properties. If you are curious about the value of your home and/or specific neighbourhood statistics please contact us anytime, we would love to help. Information below has been provided by the Ottawa Real Estate Board “October Home Buyers weren’t spooked by election results.” Members of the Ottawa Real Estate Board sold 1,161 residential properties in October through the Board’s Multiple Listing Service® System, compared with 1,119
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