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How to Make Your Offer Stand Out From the Rest
Posted on Fri, 30 Sep 2016, 10:10:00 AM  in Home buying tips,  Home selling tips
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In a competitive real estate market where demand outpaces inventory, the seller gets to call the shots. Sellers have the knowledge that they can name almost any price and still receive multiple offers. This places buyers in the position of trying to get their offer to stand out from those of other bidders. The following tips will give you a leg up if you should find yourself in a bidding war.

 

Write a Letter:

Make your offer stand outLetting the seller get to know a little about you and your family can increase your chances of having your offer accepted. Even though they are moving, most sellers still love the home and want to know that it will be well-cared for by the next family. Writing a personal letter letting the seller know why you love the home and feel that it is perfect for your family may put your offer on top.

 

Be Flexible Regarding Inspections:

In a multi-offer situation, it may help to shorten your inspection time. This will show that you are motivated and willing to work with the seller for an expedited closing. You can also agree to an “as is” inspection. This allows you to find out about the condition of the property, and the seller will not be forced to pay for a long list of costly repairs. You then have the choice of accepting the house and paying for the repairs or walking away.

 

Be Willing to Adjust the Closing Date:

Closing dates are typically agreed upon by both the buyer and the seller. You may gain favor with the seller if you agree to adjust the timetable to meet their needs for either an expedited or delayed closing. Of course, you need to be able to handle the financial implications of such an arrangement, including the possibility of having to pay two mortgages if you end up closing before your current home sells.

 

Make Your Offer Non-contingent:

The majority of home offers are contingent on appraisal and financing, which allows the buyer to receive a refund of their deposit if their financing falls through or the appraisal is below the purchase price. By waiving these conditions, you put yourself on an equal footing with cash offers. If you choose this approach, you should make sure that you have already been completely approved for the mortgage and have enough funds on hand to make up the difference if the appraisal should fall short of the purchase price.

 

Add an Escalation Clause:

Many buyers expect an opportunity to counteroffer and tend to save their best and final offer until the end. In a multi-offer situation, the seller may accept the highest offer and reject the others without any attempt at negotiation. An escalation clause automatically increases your offer by a specified amount over a competing offer up to a pre-determined amount. This lets the seller know that you are willing to pay more but not more than is necessary to win the contract.

 

Get Pre-approved:

A preapproval lender from a mortgage lender shows that you have already submitted the necessary documentation to qualify for the loan. This helps alleviate any fears on the part of the seller that the offer may fall through at the last minute because of a lack of financing.

Finally, trust your realtor. They can give you valuable insight into the market value of a property and the possible motivations of the seller.


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Consumers Looking to Buy or Sell Homes
Posted on Thu, 15 Sep 2016, 10:05:00 AM  in Home buying tips,  Home selling tips
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Canadian real estate continues to have unusual periods of activity in which prices and sales increase faster than their average rates. Prices have surged dramatically in some markets recently. For example, prices rose sharply and some high profile sales occurred in the current quarter in Vancouver. A large number of which involved foreign investors.

 

Bubble Talk Rises

Looking to buy and sellAs prices soared in Vancouver and increased in Toronto, the talk in the financial news raised the notion of a real estate bubble. In Canadian financial news, bubble talk rises whenever prices show spurts of rapid growth, and this is no exception. The realistic assessment of price increases, when compared to wages and incomes, makes a stark picture. Prices rise much faster than wages and incomes. The conclusion from those facts for some analysts is that prices will outstrip income, and the real estate market will crash. The bubble did burst in recent memory, but it was in the US in 2006.

 

Speculation in the Hot Markets

Speculation can be a symptom and a cause of overheating in real estate markets. In the case of Vancouver real estate, it is clearly a symptom. The market has been warm for more than a decade and occasionally goes into a heightened state. There is a significant amount of speculation in the Vancouver market and real estate investors take passing positions on a property to get a quick flip and short-term profit.

 

Tax collection Issues Surface

Speculators sometimes play a useful role in bringing more transaction to a timely close. These investors have speed and profits as their driving forces. They can sometimes create enormous streams of personal and corporate cash as real estate activity can rise to impressive spikes at times. In Vancouver, news media carried a number of headlines and reports and prominent investigations by the Canadian Revenue service into tax payments. With information focused on particular individuals, the reports create a picture of active foreign investors and real estate agents fully engaged in the high paced current market.

 

Taxes Are Good for the Public

Real estate taxes and income taxes benefit the Canadian people and government. The high volume of sales causes an enormous amount of financial, and other economic activity. The tax revenues from sellers and agencies involved in the record levels of sales volumes is a boost for the government. This increase in revenues comes during a time when oil revenues bring less than anticipated due to a global slowdown in crude oil.

 

Investigations may Change the Laws

Some discussion includes the idea of enforcement. Other officials have ventured the possible need to change policies or amend the tax laws to get a better and more just level of enforcement. Local officials can determine the extent of compliance with the law in their areas; the national government would have to consider the impact on government financing and the economy

 

BC and Ontario Bear the Brunt

Toronto and Vancouver are the centers of real estate market growth, high sales spikes, and speculation. They will have to work with the national government to resolve issues and develop more effective revenue collection policies. Many media reports and investigations centered around these two markets, and the House of Commons has initiated hearings to study the issues.

 

Speculation and Overheating

Tax collection is part of a larger problem in the major markets. Speculation can lead to overheating in these major markets which could adversely affect the national real estate market. The idea of speculation as a major factor in Vancouver and Toronto would concern the entire Canadian financial system. While Toronto and Vancouver would have a strong interest in curbing speculation, they can do no more than enforce current laws. The impact of overheated markets is a national issue.


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The Value of Property
Posted on Tue, 30 Aug 2016, 02:55:00 PM  in Real Estate Market
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Sturdier Homes

Many places in Canada see extremely harsh winters. Houses that have stood the test of time have value in more than just location and amenities. They've also accrued historical value, as well as utility. A house that can survive a subzero winter for decades while remaining functional has exceptional sturdiness to it. That said, these houses aren't always properly represented by the market. Right now, China has been fostering a false bubble in Canada. Though predictions have been against the bubble's growth for the last several years, as of August, 2016, it has yet to burst. How this has been done is through foreign purchases of luxury properties. This kind of buying has facilitated an up-spike in property values.

Canadian Debt

property valueCurrently, Canadians are spending more than they make. There is substantial debt, and the housing bubble has pushed credit expansion to the furthest limit. As a result, the cost of homes today and their actual value aren't going to be equivalent. Some properties which are of exceptional value will be passed over because of their location, while newly-built subdivisions may boast outlandish prices, but never be filled with home owners. Indeed, as the bubble becomes undone, there will be a ubiquity of empty subdivisions priced unrealistically in Canada. When the bubble finally bursts, it will totally reshape the market.

Profiting in a "Down" Market

Excessive debt causes foreclosing and a ubiquity of apartment rental. There are going to be a lot of people that need a place to stay when the bubble bursts, but can't afford anything expensive, and certainly cannot afford to buy a house. Getting in now and buying up an inexpensive property with four or more bedrooms could be a great way to capitalize on this. Subletting (where legal in your community) can allow you to pay off your own mortgage incredibly fast. Imagine if your mortgage is $2000 a month, and you're able to take on four renters at $800 a month. You also pay about that much. Well now you're paying double the mortgage every month. On a $100,000 house just outside of town, you could have the property paid off from zero in two years and one month, depending on your APR. In such a case it would be wise to plan for about three years.

Anticipation

The key to profiting when a bubble bursts is to anticipate where the fallout is going to strike. If you're in a market that has appreciated wildly, selling immediately could make you a boatload of cash that can be turned into an even better property after the bubble bursts and prices plummet. Pay attention to the market, and plan ahead of it. They're saying the crash is imminent right now. But they've been saying the exact same thing since 2014. The fact is, market indicators are not the same as market predictors. Indicators can point to a good or bad market and turn up wrong every time. While there are many indicators which point toward a declination in Canadian real estate, as yet concrete predictors are not known--though China's stance on the issue, and their deliberate facilitation of the bubble, do point toward market collapse sometime in the near future.

Only Take Sustainable Risks

Whatever you do, be careful. In the real estate market, you've got to pay to play; but that doesn't mean going all in on your first hand, or even subsequent hands. In poker, the best players never go all in until the end of the game. In real estate, the stakes are so much higher. Know your market, and be ready to move when the time comes.


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What to Look for in an Investment Rental Property
Posted on Sat, 30 Jul 2016, 03:35:00 PM  in Home selling tips,  Real Estate Market
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When you look at rental homes for sale, you might look at dozens of properties with your agent without knowing what you should look for or what home is best for your needs. While you may have an idea in mind about whether you prefer a home for one family or multiple families, you may have no clue what you need. You may also focus more on your own likes and preferences than what tenants would like. Before looking at another rental home, check out a simple list of what to look for in a rental property.

Size and Space

One thing you need to focus on is the overall size of that house and the space available. Depending on the city where you buy, you may find that homes are extremely close together and that homes have tiny yards. Other cities offer more space between neighboring houses and larger yards. Keep in mind that the amount of available space may determine the type of tenants interested in renting that home. A couple with two small children won't like a house that has no backyard and small bedrooms.

Neighborhood Specs

Taking a short drive through the neighborhood surrounding that house is the best way to get a feel for that area and to learn more about the neighborhood in general. When tenants come to look at that house, they'll ask you questions about the school district, whether there are any parks nearby and whether the neighborhood is safe. Though you can find cheap homes in some neighborhoods that cost as little as $10,000 or less, you might have a difficult time finding tenants or finding tenants willing to stick around and renew their leases.

rental-investmentUnique Features

One or more unique features can make a house more appealing to tenants and get you more money too. Look at comps for the neighborhood before looking at houses. You can then compare the features found on traditional homes nearby to the features found on the home you want to buy. Features on rental homes that tenants like include a large fenced-in backyard, ample parking on the street, a large garage with its own garage door opener and a large front or side porch. You can also highlight other features like a walk-in closet or en suite bathroom in the master bedroom or built-in shelving in the living room.

Overall Condition

A turnkey property is one that you can turnover almost as soon as you buy it. If you buy a rental home that is in great condition, you can often advertise that property for rent and find tenants less than a month after becoming the new owner. If, however, you buy a house that needs a significant amount of work, it might take months before you even start looking for renters. Homes that are in poor or bad condition will require more money upfront, which cuts into your overall profits.

Current Residents

As you look at rental homes, give some thought to the current residents living there too. Talking with them or seeing how they act can tell you a lot about that property. You can easily see if they are the type of people who take care of regular maintenance and keep the home in good shape, or if they are the type of people who will spray paint the walls and leave behind mountains of trash that you need to remove later.

Buying a rental home requires more than just finding a house that is in good condition. You also need to look at the current residents, the surrounding neighborhood, the space available and any unique features it has.


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Tips for Summer Showings
Posted on Fri, 15 Jul 2016, 03:20:00 PM  in Home selling tips,  Real Estate Market
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Rising temperatures mean rising home sales! Whether you’re just putting your home on the market or it has been sitting there a while, follow these easy and affordable tips to have your home ready for summer showings.

Manage the Thermostat

Use a programmable thermostat to ensure the inside temperature is around 23 degrees Celsius (75 degrees Fahrenheit) during showings. This will leave your home cool and comfortable for potential buyers, but not use excessive energy while the home is vacant. If you've already moved out of the home, consider a Wi-Fi-enabled “smart” thermostat that will allow you to adjust the temperature specifically during scheduled showing times.

Keep Up With Curb Appeal

Maintaining a yard can be difficult work, but you’ll want your buyers to believe the beauty is effortless. Continue a regular lawn-mowing schedule to keep weeds at bay. If you’re unable to do it yourself, hire a service or find a teenager in the neighborhood who wants to make some extra money each week. In drier weather, run your sprinkler or sprinkler system a little each morning to keep the grass lush and green. Consider adding some color to your path or front steps with hardy annual flowers. Trim bushes and trees so that your house is visible from the street and plenty of natural light shines through the windows inside.

summerEasy Sweat Equity

Was that rosy-colored front door once a vibrant red? Is the siding on the back of the house supposed to be white? Freshening up painted items such as doors, shutters, railings, and mailboxes can be relatively inexpensive but can produce substantial results. Use a house-washing product or some elbow grease to scrub your siding if it hasn’t been cleaned in a while. Make the home look fresh and clean instead of old and dated.

Highlight Outdoor Living Spaces

If you have a deck or patio, stage the area so that potential buyers see the space as another room on the house. Use outdoor furniture, cushions, and accessories to make the space inviting and to give the buyer an idea of what it would be like to entertain in the space. Hide items like air conditioners or gutters behind bushy plants. Be sure to open curtains inside the house so that buyers walking through can see and appreciate this extra outdoor space.

Have Photos Updated

If your home has been on the market for a while, it’s possible that buyers are still seeing photos of your home with snow. Ask your Realtor if it would be beneficial to have your outdoor photos updated to highlight how the property looks today.

Every Showing Counts

When you first put your home on the market, you will probably make sure it is perfectly staged and clean from top to bottom. You will quickly realize that preparing for each showing can take a lot of time and energy, and it can be hard to muster that dedication every day. The truth is, however, it’s important to treat every showing as if it were your first. You never know when the right buyer is going to walk through the door. Create a showing plan and stick to it every time. If you’re planning to go on vacation, prepare your home accordingly and notify your Realtor so that she can open your home for showings all day while you’re gone.

Many home buyers are eager to finalize purchases soon in order to close and be settled before school begins. Use these tips to take advantage of summer’s beautiful backdrop and to present your home in the best light to the most potential buyers.


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Breaking Down the Mortgage Payment
Posted on Mon, 30 May 2016, 10:50:00 AM  in Home buying tips
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When you buy a home, you're greeted with a complex mortgage payment that may appear confusing at first. Unlike a rental payment, the monthly mortgage amount is a mixture of several different charges. For first-time home buyers, it's important to understand what you're paying for each month. With mortgages lasting 20 years or longer, understanding them should be a top priority for investors.


Principal and Interest
The main parts to any mortgage are principal and interest. The principal is the amount you agreed to pay the sellers during the bidding process. For example, the initial home price or principal might have been $150,000. When you pay your mortgage each month, you slowly pay down the principal's initial amount. The interest amount is the money charged to your loan by the lender based on your good credit. When you begin your mortgage payments, you'll normally pay more interest than principal. As time goes by, the principal will be paid off faster than the interest. Most lending institutions use this amortisation schedule for their clients.

Trust Accounts Explained
If you only paid the principal and interest on the mortgage, you'd have a rude awakening when property taxes and insurance are due. Every year, you must calcpay a certain amount of taxes on your property. These taxes pay for community resources, such as schools and emergency services. Depending on your Canadian region, taxes could be due every quarter or on a semiannual basis. Insurance is required by the lender because the home must be covered in the event of a catastrophic accident or natural disaster. You can easily pay for taxes and insurance by adding a trust account to your mortgage payment. In one lump sum, you'll pay the principal, interest, taxes and insurance. As a result, you won't receive a huge bill for these items. They're simply paid off in small increments across the entire year.

Monthly or Weekly Payments?
In most cases, you'll pay for your mortgage on a monthly basis. The interest is calculated monthly, and allows you to make 12 payments each year. This payment schedule usually culminates in a mortgage period that lasts 15 or 30 years. However, you do have the option of paying for your mortgage on a weekly basis. Essentially, your monthly payment is divided by four, and the bank withdraws this lower weekly amount on a day of your choosing. Because there are 52 weeks in a year, you'll make an extra monthly payment with this scheduling type. As a result, you'll pay fewer interest charges and complete the mortgage in less time than a standard monthly payment.

Adding Onto Your Payment
Another way to pay off your mortgage faster is adding an amount to the standard monthly payment. Every time you receive your mortgage bill, there's a section for an additional payment. Add any funds you can to the principal. Over time, you'll reduce the mortgage's length and save substantially on interest amounts. However, don't compromise your budget to add this extra amount. Always pay the required mortgage, and only add to it when it's possible. You should still have a comfortable lifestyle with any mortgage amount.

A smart way to start any home buying process is beginning with a trusted lender. This bank can look over your income and compare it to your liabilities. Using complex calculations, the lender forms a mortgage payment that you can afford. It's based on a given property value range, such as $200,000 to $250,000. Use this pre-approved lender amount to guide your property search. When you remain within the pre-approved price range, you'll have no problems affording the monthly payment.


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How to Clean Up Your Credit Before Buying a House
Posted on Sun, 15 May 2016, 11:15:00 AM  in Home buying tips,  My services
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Since mortgage interest rates have been low for several years, many home buyers are under the misconception that their credit score won’t make that much difference in the amount they pay over the life of the loan. In reality, even a point or two difference in the interest rate can easily amount to $50,000 to $100,000 over the term of the average 30-year home loan. A lower interest rate may also result in lower monthly payments, which can leave extra cash in your pocket. The secret to qualifying for the best interest rate on your mortgage is to start whipping your credit score and history into shape at least a year before applying for your loan. The following steps will help you improve your financial picture so that you can face your mortgage lender with confidence.


What Is a Good Credit Score?
Credit scores range anywhere from 300 to 850. Your score is calculated using a combination of factors, including the length of credit history, past payment history, type of credit, and amounts owed in relation to available credit. As a general rule, individuals with credit scores 740 and above are in a position to qualify for the best loan rates. You may still qualify for a mortgage even if your score is below 740; however, you will likely pay one to two points more in interest.

Get Your Credit Report:
It is important to review your credit report at least once a year, so you will have a clear picture of where you stand. Be sure to dispute any inaccuracies that youmoney may find with the credit bureaus.

Lower Your Debit-to-Income Ratio:
Your debit-to-income ratio is the amount of debt your lender believes your income will support. It is recommended that you keep housing payments at no more than 28 percent of your monthly income. You should strive to keep the total of all your debt to less than 36 percent of your income. You can lower your debt-to-income ratio by eliminating any low-balance loans that are close to being paid off and reducing your outstanding credit card debt.

Get Rid of “Toxic” Accounts:
In-store financing and rent-to-own accounts have horrendous interest rates, high payments, and have a bigger impact on your credit score than other types of debt. It is best to pay off and close these accounts as quickly as possible.

Pay on Time:
Almost everyone has had a few late payments here or there. You can lessen the effect of past payment problems by ensuring that you have at least six to 12 months of consistent on-time payments before applying for a mortgage.

Lower the Amount of Credit You Utilize:
You should try to keep credit card balances to less than 20 percent of the total credit line. You should also avoid closing credit cards as you pay them off unless they are store cards or have an annual fee. Closing the accounts will lower your amount of available credit and actually increase your debt-to-income ratio.

Avoid Applying for New Debt:
Opening up a lot of new credit lines at once can lower your credit score. Each time you apply for credit, the lender places a hard inquiry on your credit, which has an adverse effect on your overall score. An influx of new accounts also raises a red flag for lenders that you are about to become overextended. 

It can be frustrating to have to delay your home search in order to work on your credit; however, a little patience and diligence can earn you thousands of dollars in savings. 

 


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Buying a home for a young family
Posted on Fri, 15 Apr 2016, 10:50:00 AM  in Home buying tips,  My services,  Real Estate Market
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Moving out of a rented house to your house is one of the greatest achievements in life. In Canada, there are several young families owning their first home. Most of these have one or two kids less than eighteen years. 

If this describes you and you are buying a family home, it is important to consider convenience and safety in your buying process. Most serious accidents happen at home when fixture, features, and fittings are not safe for kids. Here are a few tips to ensure safety. 


Look for a kid-friendly floor plan If you have small kids, it is good to keep an eye on them all the time. Avoid buying homes with a main-floor master plan. An open floor plan house would be the best. Moreover, look at the steepness of the stairs from your garage to the main house especially if you have to carry your kids from the garage. Lastly, consider the indoor play area. There should be enough space for kids to play with toys especially in cold weather. Size up the youngfamilyyard Your kids need to play outside and enjoy the sunshine. Do not overlook this need. Look for a home with a safe yard that is large enough for your kids to play on it. You may find a home with a large deck that can be used as a play area. However, if you have very small children, the deck may be too dangerous for them. On the flip-side, a yard will cost you much more to maintain. However, you could use a nearby playground if your children are big enough to play there. Where are the bedrooms located? 


There are different house designs with some having bedrooms on one floor, others on different floors and yet others with some bedrooms in the basements. If the master bedroom is on the top floor and the other bedrooms on the ground floor, be contended with frequent climbing and down the stairs at night to check the children. This setup may be good for a family with teenage children as it is advisable to separate the bedrooms. Interior safety, Find ways to keep areas such as the pool from children. Moreover, look at low hanging lights, piping and similar fixtures. In the same breath, check on the safety of the stairs, and the bathroom. Try to buy a house that is safe or one that you can modify to enhance its safety. How is your neighborhood? 


You may make a few renovations to your house, but you cannot change the neighborhood. Thus, choose the location carefully. Pay a visit to the prospective home with your family and ask them to give their views about the place. Moreover, look at the cleanliness, security, the condition of access roads and availability of utilities such as water and electricity. Look for the safety of your kids and the overall comfort of the whole area. See if the roads nearby are too dangerous to cross if your kid decided to head to the stores. Is there any place that you can jog or ride a bike should you decide to keep healthy? Find out if there are very noisy nightclubs within your vicinity. It is also good to find out if there are other families in the area. How far are public amenities from the home? Look for groceries, stores, schools hospitals and the like. The nearer they are to the home the better. You may also look at the location of parks and other places of interest where you can spend time with your family.

 


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Upgrades to Make When Selling Your Home
Posted on Wed, 30 Mar 2016, 12:10:00 PM  in Home buying tips,  Home selling tips,  My services
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For homeowners who want to sell their property quickly and attract buyers, it's important to allow the house to shine once it's on the market. The appeal of the property will determine how quickly you receive an offer and how much of a profit you can potentially make. When getting ready to list your home, there are a few important upgrades to make to get it ready to sell.

Perform a Minor Bathroom Remodel
The bathroom is one of the most important rooms of the home due to how much it's used each day. Buyers want to purchase homes that have upgraded and attractive bathrooms instead of outdated fixtures. By investing in a bathroom remodel, the average return at resale is 102 percent, making it a smart step to take. Perform upgrades that include installing new hardware, staining the cabinets, installing new tiles, and adding a new tub. You can also remove an outdated shower our tub and replace it with a walk-in feature that has multiple shower heads and doesn't have any doors for a setting that resembles a spa. Walls in the patiobathroom that are damaged can also be repaired with spray-on texture.

Increase the Curb Appeal
The curb appeal of the property is the first impression that you make on your buyers and will ultimately determine how many people visit the home after seeing it advertised. Fertilize the lawn, install a water feature, and extra shrubs, and consider painting the door with a pop of color for a exterior space that stands out in the neighborhood. You can even add an archway to add a feature that works as a focal point in the yard. Remove clutter in the yard and keep it manicured, which will increase the property value of the home.

Convert the Attic into a Room
Although attics were originally used for storage, more people are transforming it into a setting that serves multiple purposes. Consider converting the attic into an additional bedroom, a gym, or an entertainment center. Many people also choose to use the space as a home office for telecommuting. This can allow you to have an average return of 93 percent at resale. You can also add insulation to the attic to reduce the cost of energy on the property and allow the room to become more functional.

Remodel the Kitchen
Remodeling the kitchen is one of the most important steps that homeowners can make with their property when selling it to attract more buyers. The average return at resale is 91 percent, but this can allow the home to sell quicker instead of sitting on the market for several months. Install backsplashes, add a kitchen island, and upgrade the countertops with concrete material for a modern design that peaks buyers' interest. You can also consider installing brushed nickel hardware on the cabinets and adding white subway tiles on the walls for a decorative backsplash. You can even add French doors, which will allow plenty of light in and will make the room to feel more spacious.

Add a Deck or Patio
Make it easy to entertain and enjoy the backyard setting by installing a deck or patio where future homeowners can entertain. Consider adding potted plants and furniture for an environment that can be used to enjoy a bonfire or sit out and read. Enhancing the appeal and functionality of the backyard will attract more buyers for extra space that can be enjoyed on the property.


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Lawrence Park Real Estate
Posted on Sat, 12 Mar 2016, 08:30:00 PM  in Real Estate Market
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Lawrence Park South – Where Homes Move!

Rodica Iliescu, Broker, Remax All Stars Realty Inc

 

One of the trendiest sayings in real estate these days is “location, location, location!” Clearly, when buying a home you want accessibility to many amenities, but still retain a quality of life in a friendly, clean neighbourhood.

 

Lawrence Park South is a prime example of this. Ranked as the wealthiest neighbourhood in all of Canada in 2011, as well as highest overall on characteristics such as healthcare, education, walkability, and parks, it’s little wonder that when houses come up for sale, they get snatched up quickly.

 

In 2015, 145 homes sold in our area. That’s a decrease of 4% compared to the previous year, but with house prices increasing in 2015, as well as properties spending less time on the market, this minor variance in activity can be negated.

 

On average, houses in Lawrence Park South were listed for seven days before selling. The shortest time on the market was just one day – a matter of hours between listing and sale!

 

The average sale price in 2015 was just over $2,000,000, and the highest “above the asking” price was 130% above the list.

 

Clearly, this is a neighbourhood where people want to live!

 

As we all know, it’s been a seller’s market for several years, and because we live in a highly desired area that has a shortage of available homes, we can expect these positive selling trends to continue.

 

The demand for houses in Lawrence Park South isn’t just confined to one or two small pockets either. Houses sold in 2015 were spread evenly over the area, including Mt. Pleasant Road, Wanless Crescent, Buckingham Avenue, Cheltenham Avenue, Rochester Avenue, St. Leonard’s Avenue,

Weybourne Crescent, Dinnick Crescent, Lawrence Crescent, Dawlish Avenue, Glengowan Road, Strathgowan Avenue, and Glengrove Avenue East.

 

With its beautiful homes, village atmosphere, and host of shopping, dining, and parks to enjoy, Lawrence Park South is definitely a high-value neighbourhood where real estate will always be in demand.

 

For more information please contact Rodica at 647-204-4663 or via email at Rodica@rodicas.com

 

 

 

 

 

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