CENTURY 21 Assurance Realty Ltd. - Blog

When selling your home, is appearance everything?

dean.desrosiers@century21.ca — Thu, 09 May 2013 00:00:00 GMT

While a good first impression is important, appearance isn't the only sense that we need to focus on when selling your home. The most common marketing and sales information provides advice on how to prepare your home to look beautiful visually, but what about the other senses? While you cannot taste a home, lets not overlook hearing, smelling and touching.

Hearing - Do you have creaks in the flooring, humming appliances or any other unsettling noises. You may be accustomed to hearing these sounds, but potential buyers may see this as a annoyance or potential warning sign.
Smell- When a buyer walks into your home, before they see anything they smell it. Check for obvious sources of bad odour such as cigarette smoke, pets and garbage bins. Scent does affect the atmosphere of a home therefore eliminate any bad odours and be cautious not to over power the smell of your home with strong air fresheners that scream cover up!
Touch - Keep your counter tops, light switches, door handles and other surfaces clean and dust free. If the potential buyers feels the need to clean their hands, that doesn't leave them with a great first impression.

If you want to sell your home quickly and for the best price, think about all the senses and create an atmosphere to make your home show its absolute best. Call today for more proven ideas!

Home Inspection Myths

dean.desrosiers@century21.ca — Wed, 08 May 2013 00:00:00 GMT

Some thoughts and misconceptions about home inspections, brought to you by guest blogger Brian Wrightson of Canadian Residential Inspection Services

1.Homes sold "as-is" don't need an inspection

True, but can you live with what "Is"? How do you know what "as-is" includes without a home inspection? The seller must disclose known defects, but what about defects that are undiscovered? The inspection will give you a more complete picture of the conditions of your chosen home, beyond the sellers disclosure. A home is a significant purchase, and the home inspection is an important tool to help you determine if you are making a sound investment

2. A home can pass or fail an inspection

The inspection will be a useful too in making a purchase decision. A home inspector cannot advise on your willingness to renovate (or not), repair (or not), live with inconvenience (or not), or to invest in the long term (or want and need "move in ready"). Our responsibility as Home Inspectors is to let the "house speak". A home inspection must be an unbiased assessment of the visible condition of the home.

You can change everything about a home except its location. You need to judge for yourself how much you are willing to spend on updates, what shortcomings (if any) you are willing to live with, and whether the home you have chosen fits your criteria. A qualified inspector will no offer their opinion on whether or not you should purchase the home. To do so is a severe breach of ethics. Only YOU, the home-buyer, can decide if the home has passed the home inspection.

3. The seller has to fix everything the home inspector found

In fact, with few exceptions for municipal code compliance, the seller is not require to make repairs to the home. The inspection report is an assessment of the state of the home at the time of inspection. This may include critical issues such as water infiltration, maintenance items to extend the life and function of the home, and operational items such as indentifying the location of the main water shutoff valve. It is NOT a fix-it list for the home seller.

If the inspection turns up significant defects, is is a good idea to talk to your Realtor to negotiate what, if anything, the seller is willing to fix or contribute toward repairs. NOTE: Ensure any repairs are completed by a reputable tradesman.

4. My "Brother-in-law" will look at things for me

I am sure you, your brother in-law, or your Uncle Bob know plenty about homes. You should bring him along to your second showing where you decide if you might like to put in an offer on your chosen home. He could be able to give you a good idea of the condition of the home and maybe even spot a major defect. A 20 minute "look around" is NOT a home inspection.

Realtors are not likely to allow a visitor to poke around for 2 hours or more without a license or insurance. Consider whether you will be in the best position to renegotiate based on "my Uncle says the roof needs to be replaced.." You will need a qualified, licensed, and insured home inspector and a professionally written inspection report.

5. New homes don't need an inspection

It is true that building codes have become more stringent in recent years and that they are often designed with safety in mind. However, the municipal code inspector rarely spends a couple of hours closely inspecting the home. Just as the home inspector does not do a code inspection, the municipal inspector does not survey the details as done by the home inspector. Their mandate is code violation not operations. "The builder is going to do a walk-thru with me so I don't need an inspection".

Ask, "who does the quality control function for the builder?" this is not the prevue of the municipal inspector. While many builders do not allow inspections during the building process due to liability issues (or is it merely an excuse), that does not mean that the home cannot be inspected after you move in. It is common for new homes to be sold with a 1 year warranty. Make use of your warranty by having the home inspected in the 11th month.

6. I'm getting an appraisal so I don't need a home inspection

The appraiser is working for the lender. An appraisal is a value assessment and is performed for the benefit of your mortgage lender to protect their interests. A home inspection is performed for their client too - most often the home buyer. A home inspector will inspect the home from roof to foundation and report on the conditions of structural and mechanical systems. The process often takes 3 or more hours. Does the roof need replacement? Is the foundation solid? Is there water intrusion? These are questions your appraiser would not normally address, while it is the focus of the inspector.

Seldom is a home inspection a requirement but it is a safeguard for the buyer or the owner.

What's my home worth?... Really

dean.desrosiers@century21.ca — Wed, 08 May 2013 00:00:00 GMT

How Do We Value Real Estate? "How much can we get for our house? That is one of the first questions that I get asked as Realtor® when listing a home for sale.

Of course you want to get the most money as possible for your home, however if you set the price too high as you'll scare away potential buyers and their agents. On the other hand, if you price too low you are potentially leaving money on the table and setting off red flags. "Why such a low selling price?" Is there something wrong with the property?

The selling price ought to reflect the market value of your home and be influenced by how quickly you want to sell it. Your Realtor® can determine the market value by preparing a Comparative Market Assessment (CMA).

What is market value?

Simply put, market value is the price that a buyer is willing to pay for a similar home in your neighborhood.

Based upon market research, your Realtor® will suggest a listing price for your home. The analysis should take into account things such as age,rooms, lot size, renovations etc. and include a comparison to other properties in your neighborhood that are currently for sale and have recently sold.

Keep in mind, market value doesn't take into account the personal attachment that you have to your home and all the hours that you have loved and nurtured it. It is only worth what a buyer is willing to pay for it! Don't take it personally.

Before you sell your home, view at least 5 comparable properties and make sure that you are comparing homes that are truly similar - not just an area- but style, age and features.

If you are looking to sell and need help call today for a complimentary Market Analysis! I would like to help you sell your home fast and for the ideal selling price.

51 Times When Flipping Houses Is AWESOME

amanda.westrheim@century21.ca — Fri, 03 May 2013 00:00:00 GMT

by Danny Johnson on May 1, 2013

Last week, I went over 43 times when flipping houses is NOT all fun and games. Things are not always hunky-dory, but sometimes it can be a lot of fun. We’ve got to look at the other side of the coin, the side that looks like a coin from Chucky Cheese.

Let’s take a look at some of the times that make the house flipping business the cat’s meow.

Number one is definitely numero uno.

1. When you get a big fat check at closing
2. When you see a complete dump transform into a showplace
3. When the neighbors of the house you are fixing shake your hand and thank you
4. When you forget what having to wake up and go to work is like
5. When you are cruising down the road and realize the other direction is all backed up and clogged with people going where they don’t want to go
6. When you prank call other investors
7. When you receive prank calls from other investors
8. When you plan ways to decrease values so that you can buy houses cheaper
9. When your kids tell you that you are ‘assessed’ with houses
10. When you make as much on an assignment as some make all year at a job
11. When you get a cash buyer wanting to pay full price for your fixed up house
12. When buyers don’t ask for any repairs after an inspection
13. When you receive that first call from a truly motivated seller and realize that they do exist
14. When you put that first deal under contract and are not sure if your excitement exceeds your nervousness and worry
15. When you can go on vacation for as long as you want
16. When you don’t have to miss anything your kids do
17. When everyday can be “bring your kid to work day”
18. When you realize that you underestimated the After Repair Value for the house
19. When you realize that you over-estimated the repair cost on a rehab
20. When a business meeting with other investors consists of crazy stories about crackheads
21. When you finally learn that it is better to delegate certain activities that you despise
22. When you have a seller so happy that you are taking care of their problem that they thank you a hundred times
23. When you find something awesome left behind at a house
24. When you get to explore awesome neighborhoods that you didn’t even know existed
25. When you find out that you’ve gained some street cred
26. When you receive multiple offers on the first day you put a house up for sale
27. When the first investor buyer wants to snatch up your wholesale deal
28. When you make more on a wholesale dealthan a typical fix and flip
29. When you realize that all you have to do tomorrow is go and see one house
30. When you are out flying your airplane on a perfect weekday morning
31. When you finally realize that all it really takes is getting a decent amount of leads
32. When you find out that a seller accepted your offer, even though it was lower than your competitor’s, because they liked you more
33. When a seller accepts your offer within a millisecond of making it (this can create some worry at the same time – What did I miss?)
34. When you get a call from someone wanting to sell their house that got a letter from you 2 years prior
35. When a house you thought would take a while to sell sells right away
36. When the mayor wants to give you the key to the city
37. When you use the profit from a deal to take an awesome vacation
38. When you can spend your morning with your wife ‘planning’ at Starbucks
39. When you can finally wear that hawaiian shirt that full-time investors wear to real estate investor association meetings
40. When you go to a meeting with the people that still work where you used to and they all have to get up and leave after 45 minutes and you don’t have to be anywhere
41. When you get to call your own shots and decide what you are going to do each and every day
42. When you finally accept the fact that making money is not difficult
43. When you realize that you no longer trade hours for dollars
44. When you realize that you haven’t heard ‘corporate talk’ in a long time
45. When going to the office, means going into the other room
46. When you drive through a neighborhood and realize that you’ve done a deal on almost every street
47. When you buy a house and then turn around and buy the neighbor’s house
48. When you go to a city hearing to convince them to not demolish a house, acting like a regular Joe so as not to appear like an investor and having one person on the board whisper to the other and have them ask you point blank if you are an investor
49. When you and your wife crawl in through a window to see a vacant listed house only to have the police pull into the front yard and a neighbor block the alley with their truck within minutes (good thing we knew the listing agent)
50. When title companies want to wine and dine you to get your business
51. When you find an incredible community like BiggerPockets

Ok, so the mayor didn’t really want to give us the key to city, but we probably have over 100 keys that we don’t know which house they belong(ed) to.

Please share your “awesome” moments. I’d love to hear them. If you haven’t gotten there yet, please share what you look forward to the most. Writing these things down (or typing them) can be very powerful.