4 Simple Ways to make your home irressistible

February 8, 2010 · Filed Under Home Maintenance and Tips for Selling your Home · Comment 

There are dozens of ways to make your property more enticing to potential buyers.  For example, you can invest in  getting your home professionally “staged”, which involves making it look a little like a model home.  Or, you can do a major renovation to improve your home‘s look and value.

But what if you don’t have a lot of time and are on a limited budget? What can you do today to make your home irresistible to buyers tomorrow?  Here are some ideas:

1. Paint
It doesn’t cost much to paint key areas of your home, like the foyer, kitchen or master bedroom.  Yet the impression it makes on buyers is significant. In fact, compared to most other types of home improvement projects, painting gives you the highest payback when you sell.

2. Create space
Homes naturally get cluttered over the years.  Even a double car garage can seem claustrophobic if there are a lot of boxes, equipment and other items stored in it.  Go through each room of your home and do a major decluttering.  It will  make your property seem more attractive and, when you sell, make moving easier too!

3. Clean and tidy
Obviously, you’re going to make sure your home is clean for viewings. But you’d be surprised what a homeowner can miss and a buyer notices. Closets, laundry rooms, side yard, basement furnace room and all other nooks and crannies should be as tidy and clean as possible.

4. Roll out the red carpet
Not an actual red carpet! But you do want the entrance way to your front door and into the foyer to make the best impression possible.  After all, those are the areas that a buyer sees first. Make sure walkways are clear and clean. Ensure that when a buyer opens the front door and walks in, the impression he or she gets is that of a great looking place to live.

These four tips don’t take much time or money to implement. Yet, they can all help make your home even more irresistible to buyers than it is today.

Want more tips on preparing your home for sale?  Curious to know the value of your home? Contact Fraser and Stephen Winters today for a FREE home market evaluation.

Tags: , ,

Newfoundland Real Estate January

February 4, 2010 · Filed Under St. John's Real Estate · Comment 

Well the first month of the year has past.  Personally I find January the slowest month of the year for real estate,  but this year was a little different.  Inventory levels of homes for sale in St. John’s and surrounding areas seem to be very low.  On the flip side there are lots of buyers.   I’ve been involved in a few multiple offer situations so far this year and have heard from other Realtor’s that they too have been involved in multiple offers.  As well, I’ve seen a fair number of homes sold within 24 to 48 hours from being listed on MLS.  Based on CMHC’s stats from ‘Newfoundland MLS Trends for 4th quarter of 2009‘ we ended 2009 in a sellers market.  I feel this trend will continue into the better part of the summer.  When the Bank of Canada increases it’s interest rates we’ll probably see a little pull back in sales.

Total # of new MLS Listings [Jan] =615 (based on residential stats)

Total # of Sales [Jan] = 240

Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 2458 (residential only)

Here is a break down by area for the month of January

St. John’s Real Estate: Listings = 155   Sales = 89 Sales/Listings Ratio = 57%

Average Sale Price is St. John’s: $271,674 for the month of October and the 12 month average $237,988

Mount Pearl Real Estate: Listings = 21 Sales = 3  Sales/Listings Ratio = 14%

Average Sale Price (12 month average): $218,729

Paradise Real Estate: Listings =28 Sales = 21 Sales/Listings Ratio =75%

Average Sale Price (12 month average): $269,242

East Extern Real Estate: Listings = 40 Sales = 15  Sales/Listings Ratio = 38%

Average Sale Price (12 month average): $259,029

Conception Bay South Real Estate: Listings = 34   Sales = 18  Sales/Listings Ratio = 53

Average Sale Price (12 month average): $223,082



Tags: , , , , ,

Newfoundland MLS Trends for 4th Quarter 2009

January 28, 2010 · Filed Under CMHC Reports, Market Trends and St. John's Real Estate · Comment 

CMHC just released their latest Housing Market Information statistics for the Newfoundland real estate market today.  Here is a basic breakdown from the report:

MLS® Residential Sales Increase During Fourth Quarter

  • MLS® sales increased 7.5% to 1,293 compared to 2008’s fourth quarter sales of 1,203.
  • October, November and December MLS® sales were 473, 421 and 399, respectively.
  • Fourth quarter average MLS® residential house price climbed 10% to $212,992 compared to $193,529 during the fourth quarter of 2008 – the only consistent price growth market in Canada since 2008.

Sellers Market Conditions

  • 1,257 new residential listings during the 4th quarter compared to 1,463 during the same period in 2008.
  • Active listings or inventory averaged 1,542 from October to December versus a similar 1,528 during Q4 of  2008.
  • Sales-to-active listings ratio hit 34% in December and averaged 29% during the fourth quarter versus 26% in Q4 of 2008.

Sellers Market Keeps Active Listings Low

  • Steady demand for housing caused active residential listings to remain low during the fourth quarter.
  • Active listings for October, November and December were 1,790, 1,643 and 1,192, respectively, with new listings of 601, 416 and 240, respectively.
  • Steady demand paired with 7.5% more sales and 14% fewer new listings resulted in sellers market conditions.

Mortgage Rates

  • Canadian mortgage rates are expected to remain historically low during the first half of 2010 and increase gradually during the second half, as bond yields start to increase.
  • For 2010, the posted 5-year mortgage rate is expected to be in the 5.49% to 6.0% range.
  • The record low bank rate currently sits at 0.25%, with prime at 2.25% and 5-year fixed mortgage rates at 5.49% at major Canadian banks.

Tags: , , ,

2009 Urban Housing Starts in Newfoundland and Labrador

January 11, 2010 · Filed Under CMHC Reports, Market Trends, New Home Construction and St. John's Real Estate · Comment 

ST. JOHN’S, January 11, 2010 – Urban housing starts posted consistent results during the month of December, according to preliminary released today by Canada Mortgage and Housing Corporation (CMHC). December’s housing starts totaled 201 throughout the St. John’s area versus 202 starts in December of 2008. An additional 22 starts were recorded in other urban areas across the province, for a total of 223 provincial starts compared to 226 the previous December. For 2009, urban housing starts totaled 1,703 in the St. John’s area and 2,022 provincially.

“The local residential construction industry remained buoyant throughout 2009 and ended the year off just nine per cent compared to 2008’s record pace,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “Despite weakness in the global economy in 2009, positive local economic and demographic factors continued to support stable residential construction activity within the St. John’s region, as well as in other urban centres across the province,” added Janes.
For Canada’s urban centres, total housing starts increased 17 per cent with 12,262 recorded in December compared to 10,488 during December of 2008. Single-detached starts increased 44 per cent to 6,222, while multiple starts of 6,040 represent a two per cent decline from a year ago. Throughout Atlantic Canada, there were 672 urban housing starts posted versus 574 the previous December, an increase of 17 per cent.

Tags: , , , ,

Little Change in Investment Properties Vacancy rates in St. John’s Metro

December 21, 2009 · Filed Under CMHC Reports and St. John's Investments · 3 Comments 

According to the results of the fall 2009 rental market survey released today by Canada Mortgage and Housing Corporation (CMHC), the vacancy rate in the St. John’s census metropolitan area (CMA) was 0.9 per cent in October compared to a similar 0.8 per cent vacancy rate in  2008. The average two bedroom monthly rent increased to $677. “Solid economic activity and positive employment growth within the St. John’s area sustained rental market demand, resulting in low vacancies and higher rents throughout 2009,” said Chris Janes, senior market  analyst with CMHC in Newfoundland and Labrador. “The local oil industry and a lengthy list of major capital projects continued to stimulate local economic growth and in-migration to the region this year,” added Janes. Provincially, vacancy rates in percentage terms were 0.4 in the Corner Brook census agglomerate (CA), 1.6 in Gander and 1.7 in Grand Falls-Windsor CA. The combined provincial vacancy rate for all centres surveyed was 1.0 per cent.

Tags: , , , ,

New Listing 608-610 Indian Meal Line

December 10, 2009 · Filed Under New MLS Listings · Comment 

608IndianmealNew listing in Portugal Cove.  Spacious 2 Year old two storey New Victorian Style with attached HUGE 30 x 40 Garage Hardwood and Ceramic on Main and 2nd floor . Basement development includes a large rec room and games room. The Large master bedroom has a vaulted ceiling. Home requires some bathroom and lighting fixtures, kitchen cabinets and cosmetic work .  Asking price is $329,900.  Contact Fraser or Stephen Winters for more info on this property.

Tags: , , ,

St. John’s Area November Housing Starts

December 10, 2009 · Filed Under St. John's Real Estate · Comment 

St. John’s Area November Housing Starts

Urban housing starts held steady during the month of November, according to preliminary data released today by Canada Mortgage an Housing Corporation (CMHC). November’s housing starts totaled 176 throughout the St. John’s area versus 173 starts in November of 2008. An additional 12 starts were recorded in other urban areas across the province, for a total of 188 provincial starts compared to 196 the previous November. “St. John’s area housing starts held steady relative to last November, posting a small increase of two per cent, with year-to-date starts off ten per cent compared to 2008’s accelerated pace,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “Employment, income and population growth continues to support residential construction activity throughout the St. John’s region,” added Janes.

For Canada’s urban centres, total housing starts were flat with 13,507 recorded in November compared to 13,500 during November of 2008.  Single-detached starts increased 15 per cent to 6,671, while multiple starts of 6,836 represent an 11 per cent decline from a year ago.  Throughout Atlantic Canada, there were 641 urban housing starts posted versus 734 the previous November, a decline of 13 per cent.

Tags: , , , ,

Next Page »