CALGARY DREAM HOMES

REAL ESTATE BLOG

 

Stewart J Lowe (Stu) 

Direct: 403-850-0669

JEFF TINCHER | MONTHLY MARKET MINUTE

Thanks Tinch, it's not as bad as people think, people are still picking up some nice homes at good prices.

Things to do before listing your Calgary property 


If you are planning on selling your home now is the time as the snow melts, to prepare it. Here are a few things you need to consider before listing the property. At the moment inventory is not TO high but for sure you will have more competition in the next two months!


Instead of a potential buyer looking at maybe 12 homes in the next two months, in March there may be only 6 that fit their criteria, and yours is one of them.


The second thing to do is to make sure that your property is ‘sale-ready’. Any area that requires repair or paint should be attended to, and you should carry out the necessary improvements and upgrades through renovating or remodelling, so as to maximise the appeal and has the features to hold its own against the competition.


Any items left unfixed may be revealed during a home inspection, and this can delay the sale or even cause it to fall through. Needless to say, you will need to clear all the clutter and extra furniture to free up the space and make your home look bright open and spacious. Your home must be ‘showing-ready’ the day you get it listed, so do not leave the job of de-cluttering and cleaning for the last minute. Take time and effort to give your home a thorough clean, if you have to hire the services of professional cleaners it is worth it.


Probably the most important step to take before listing your property is your own mental preparation. Becoming emotionally detached from your home is essential for a successful sale. Such an emotional detachment will help you at every step of the selling process, including working with us on the right price for the property, as opposed to setting a price based on it’s sentimental value.


We can guide you through the entire process. Staging maybe and curb appeal certainly are the finishing touches. We provide our complimentary re staging advice team member.


After this and getting our photographer to take professional photographs to show the home at it’s best is a given in our service. Make sure that you no longer see it as ‘your home’ but as the start of a new adventure that will start the journey to your new home.


With the right strategies and the help of a good team, selling your home can be a smooth stress free process.


Text or Call for a Marketing Consultation Direct 403.850.0669 or email at info@calgarydreamhomes.com

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You have just finished moving to your new house, and you are exhausted, after dragging in the last box. You deserve to relax a little, but not completely, because there is one crucial step still remaining – YOU HAVE TO UNPACK!


People assume that the worst is over after all the boxes and furniture get past the front door of the new house. Unpacking the right way is extremely important to prevent clutter from being reborn in your new house. If you have struggled with clutter in your previous house, unpacking the right way becomes twice as important for you.

So, taking your time to unpack is a better strategy than going about it fast. In fact, it would help if you packed what you need the most separately from what you do not use that often. This way you can take your time to unpack stuff that is not for immediate use.

Preventing clutter and using a system to unpack will also help you get organized right from the start. This especially applies to rooms like kitchens, where unpacking and organizing the items onto shelves and draws will get rid of a fair amount.


When you organize your moving boxes label them for which room they are going in. When the truck arrives put someone on Point Duty! Instructing the movers - Upstairs , Downstairs, Kitchen, Family Room, Carols Bedroom etc. Mark the childrens bedroom doors with sticky notes so the movers know exactly where the box is going. Use a clip board, list the box number with what is in it written alongside. If you don't track and organize- it's just a pile of boxes lol

A new home is a new beginning – so start by unpacking the right way.


Recommended  Movers 


Were here if you need us with any questions and we have used our recommended movers, they were awesome and very helpful.


#calgarydreamhomes  #movingincalgary  #movinghome


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The First Type of Buyers

 All buyers fall into the different repair categories of your home. The majority of home buyers will be buyers that are families, couples, and people who know very little about making repairs or who want to move into a home that they know is in good condition. They do not want to worry about things going wrong and needing repairs done. They are only looking for homes that are in good to excellent condition and will pay a higher price for them. This is the majority of the real estate market, so if your home is being sold as is, you will have a smaller amount of buyers to choose from or be aware that you may get a low ball offer. Remember a $2000 repair to you is seen by a buyer as a $5000 repair.


The Second type of buyers

This Type are the ones that are willing to fix small to medium repairs on the home. This is the type of buyer that is going to be looking for a fixer upper home. This could be someone that doesn’t have a lot of money, or maybe a new family that is buying their first home and they are willing to put in some extra work to make the home their Calgary Dream Home or First Home to Dream Home in fact. This category includes  investors who are looking for a home with some minor repairs that can be a quick flip.


The Third type of buyers

These are the ones who buy and repair homes for a living. This will usually be investors and also contractors. This class of people will not want to move into the home, and are not afraid to tackle some projects. In reality it is what these types of people do for a living so it is just in a days work for them. Because they do this for a living they can estimate the work quick and do it at the right price.


The Price

When you are trying to figure out the right price for your home you will want to look for the average sale price of the home in your market area and with us determine fair market value. Keep in mind that the fair market value is based on homes that are in good condition and don’t need a lot, or any, repairs. And we will take you to see your competitors that our current listings.


So, if you decide to sell a house as is, then you must lower the price of your home to below market value in order to get it sold. It cannot command the same price as comparable houses in good conditions since home buyers will always chose your neighbor’s home instead of yours because it is in better shape. And if you list higher than them, you will only end up selling there’s for them!


Get Help Making The Right Marketing Decision

If you are not sure what repairs need to be done to your home it is a good idea to get a home inspector to come and look at what needs to be done before you list. You may also be able to get them to give you an idea of the cost of the repairs and what it will take to bring your home up to good saleable condition. We work with numerous Home Inspectors and pre Inspections are a better rate.


If you can afford the money and the time, then it is good idea to have the house repaired and sell it since you will receive the highest sales price for the home.


We are here to help, info@homepricescalgary.com Direct 403.850.0669


#homebuying  #calgarydreamhomes #homepricing

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As we head towards the spring, you may be starting to look at buying a home.

Remember though that your Lifestyle is a very important when you are considering where to buy.


Two very important things are the home obviously, but also take a good look at the surrounding neighbourhood. Choose a community that fits your unique lifestyle!


Is your new home going to lend itself to your unique lifestyle. Ask yourself these questions:

  • How much entertaining do we do?
  • How important is it to have good schools located nearby?
  • How long will the commute to work be?
  • How big of a backyard do we require?
  • Do we need a good sized recreation room?
  • How easy will it be to get to all those after hour things like golfing, dance lessons, Baseball or Hockey practices, The Movies and other activities we enjoy?
  • How important is it to be in a quiet area?
  • Do we want to be near a local park or jogging  / cycle paths

These are just suggestions,  you can easily create your own list of questions that you can tick off as you move through them.


Email us if you need help info@calgarydreamhomes.com


#calgarydreamhomes  # 4calgarybuyers  #calgaryspringmarket

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KHEMKA LAW·THURSDAY, FEBRUARY 14, 2019


A slew of changes affecting the way developers handle purchase agreements, trust funds and much more took effect due to the passage of the Condominium Property Amendment Act and supporting regulations. These changes were introduced to tackle numerous issues faced by new condominium buyers, one of which was developers going bankrupt without adequate protection of the purchasers’ deposit.


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2018 could have been the hottest year on record for Canadian home sales (if not for this policy change)

Josh Sherman Feb 6, 2019


The Canadian housing market had a rough year in 2018: sales dropped by 11 percent while the 4.1 percent decline in average price was the worst performance seen since 1995.


But it didn’t have to be that way, suggests the Canadian Real Estate Association (CREA’s) top economist.


If federal policymakers hadn’t gotten involved by introducing new stress testing, Canada’s housing market probably would’ve reached never-before-seen heights in 2018, writes Gregory Klump, the association’s chief economist, in an Economic Insight.


After all, he notes, the market had lots going for it. The economist reasons that strong rates of employment and immigration, half the Millennial generation turning 30 — and thus entering the prime age for first-time homebuyers — and low interest rates created an environment for a booming market.


But at the onset of 2018, new mortgage stress testing was introduced from federal watchdog the Office of the Superintendent of Financial Institution’s “Guideline B-20” — and that took the wind out of the market’s sales.


The measure forced borrowers seeking an uninsured mortgage from a federally regulated financial institution to qualify at a rate that’s 200 basis points over what they’re applying for or that matches the Bank of Canada’s five-year benchmark rate, whichever of the two is higher.

Previously, borrowers could avoid stress testing by putting forward a downpayment of 20 percent or more on an uninsured mortgage.


Of course, even with the stress testing in place homebuyers can go to provincially regulated private lenders. But they typically offer higher interest rates than the big banks.


So with borrowers now facing a higher bar for mortgage qualification, CREA’s Klump doesn’t see the Canadian housing market regaining its stride any time soon.


“Unlike past policy changes, housing markets do not appear to be adjusting to this one. The boot prints from B-20 will continue to keep housing markets in check in 2019—and beyond,” Klump writes.


#mortgagerules #newchanges  #mortgagehelp


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Well it looks like we can say most of 2019 will be a buyers market. For many people owning a home is still a dream, and finding an affordable home these days in Calgary can make the dream come true! You need a good team behind you. Yes you can get most information on the internet, but you can’t get experience!


With today’s changing mortgage requirements and the down payment it is  becoming more difficult, even with interest rates low. As a new buyer you may have to compromise, here are a few things we can suggest.



· The Price is the biggest sacrifice you can make. It is always good to consider buying a home that is 15-20% less than your mortgage person tells you that you can afford. The impact that will have on your monthly outgoings will be huge.


· Build Up Your Spare Cash.  Ok this has a huge positive impact on affordability for you. Cut out lots of things you just don’t need and force yourself to save a good down payment. It means lower monthly payments, a lower interest rate, and it could avoid any private mortgage insurance.


· The Community.  With your favourite community you may need to give up a little. We could help you look for a home that is just outside your ideal community. Near public transportation and with schools within a short walk or drive is a good compromise. If you want to have easy access to work you might have to stay out of the communities where home for sale are higher, i.e. Central South West if you work in Downtown Calgary.


· Home Styles. This can make a big difference when you buy. If you don’t want to compromise on the location, but the single family homes are too much of a financial stretch, maybe consider a condo townhouse, but keep your options open. These housing types make finding an affordable home easier, and may still put you in the right community.


· Square Feet.  Look out for a good floor plan that can make a home look a lot bigger. Most homes in Calgary are priced on square footage above grade, so a smaller home with a great layout can be really good on price.


· All You Have To Do Is Move In. Sometimes it is good to look for homes that need a little TLC, and if you are not afraid of work, why not consider improving the home yourself after move-in, over a period of time. Everything doesn’t have to be done as soon as you move in.


· Get the Right Amount Of Bedrooms. Try not to buy what you don’t really need, look for extra space maybe in the basement. An undeveloped basement in a home can really bring the price down, but maybe you can develop it further down the road.


· Outdoor Space: This can make a great home and enhance your pleasure, and make it feel a lot bigger. Big lots cost more so consider compromising with a deck or patio. Homes backing onto green space and usually more expensive.


· Preparing the Mortgage info: We like to give you Mortgage options with one of our experts who can really help our clients and talk them through it. Usually a bank Mortgage person can only offer what the bank offers! But we like Mortgage experts who have the ability to compare the best rates, giving you more options and advice. If you need help we can point you in the right direction.


Call with any questions : Stu Lowe 403.850.0669



#calgarydreamhomes #calgaryaffordablehomes #mortgagetips


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BUYING OR SELLING IN A CALGARY BUYERS MARKET 


Our market in Calgary is still a buyer’s market, but well priced homes are still getting multiple offers on them, believe it or not. A buyers market can refer to the point in the market where sales have been slow and the inventory is on the market for a long time. Sales could be on the way back up, and to be fair January is a seasonal low sale time for the market. You need to step in and purchase whilst sellers are still more realistic.


As a seller, you do not need to be unhappy that it is a buyer’s market. A buyer’s market does not mean that your home won’t sell. It just means that your home may not sell for what you are expecting for it. Therefore, if you are planning on selling your home in a buyer’s market, abandon all sentiments and set realistic expectations by looking at recent sales of comparable properties.


If you are not happy with the statistics regarding recent sales of comparable properties, you might want to wait until the market turns in your favour. As a seller in a buyer’s market, you need to be very motivated from the beginning itself, otherwise your property may end up languishing in the market. Only put your home up for sale in a buyer’s market if you are a very serious seller.

As a buyer, you will get to pick from many options in a buyer’s market.


However, this does not mean you should skip your research. Evaluate all your options – in fact, during a buyer’s market, prized locations which were earlier not available within your budget may open up. You could choose to seize the opportunity and enter the best areas while you have the chance.


Our advice is that you should move forward a look for good buys in this buyer’s market after having a team talk with us. We provide real time data that will help you find the best deals in today’s market.


On the website http://calgarydreamhomes.com you will also find Just Listed and Foreclosures in all communities on the homepage.


Happy Shopping! 




#calgarydreamhomes  #buyersmarket  #calgarybuyers

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Do you dream about paying off your mortgage? The new year is usually a time when people review their finances and, if they are in debt, create a plan to reduce that debt. With interest rates rising in Canada, the perennial question resurfaces: Should you pay off your mortgage early? Or invest your money instead? Paying off your mortgage may be the best investment you can make. 


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Cathy McMurrich- The Mortgage Group - 403-568-8817

#mortgagehelp #mortgagepaydown

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Reno's - Don't Break Your Budget

Here are a few tips to avoid breaking the budget when you reno


The first step is to know exactly what you want your reno to cover. After that, you must get an estimate of how much such a reno will cost. You have to be very clear as to what you want, to the smallest detail – this will help you get an accurate estimate, as well as more accurate bids from contractors.


Get the contractor to give you the estimate in writing. Remember that some contractors just want to get the job, then the cost keeps going up as you progress!


If you see that the numbers don't fit your budget, you can simply scale down the project. One of the ways to do this is to only carry out a portion of the reno for now. Another way is to go for low-cost alternatives. If there are appliances, furniture etc which are in decent condition, retain them and choose to upgrade them at a later date.


Remember to set aside up to 15% of the total cost for surprise expenses. After arriving at how much the total project is going to cost, you will have to arrange financing if your savings are not sufficient. Finally, make sure that you stick to this budget and not carry out fancy unplanned additions here and there while the work is in progress.


There’s a difference between low-cost alternatives and low-quality alternatives. It would be better to postpone a reno project or a portion of it than go for low-quality alternatives so that it fits your budget. 


We have contacts that you can use who will advise you before you get into your reno.


#renocalgary #renotips

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THE ESTOPPEL CERTIFICATE

According to the standard Alberta Condominium Property Purchase Contract (the “Contract”), a seller is responsible to pay, among other things, condominium contributions up to and including the Completion Day and any special condominium assessment contributions passed by resolution on or before the Completion Day.


It is critical to ensure that a seller is up-to-date on the condominium contributions for their unit as any unpaid contributions carry with the unit – not with the owner. 


READ MORE


#condoestoppels  #estoppelcertificate

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HOME SECURITY 


Home security often comes up at this time of the year. With the economy struggling a bit in Alberta in Calgary and Rural Real Estate areas, most homeowners think about door locks and alarms. These things are very important, but there is also a lot you can do around your property to prevent the possibility of a break-in.


A good way to deter the burglar is your outside lighting. Your home doesn't need to light up like a Christmas Tree but your exterior lighting should illuminate your land around the home enough to be a deter anyone up to no good in the area.


Some burglars hide around the property and wait for someone to arrive and open the door so they can use that opportunity to force their way into your home. There have been police reports of burglars accessing garages that have been left up, some people leave their keys in the car, so it is an ideal opportunity to steal it.


One of the best things you can do is to walk around your property and see if you can spot any areas where someone could hide. Can they get in behind your garden shed, a large garden shrub or next to a parked car. Make sure any of these areas are well lit or have solar lights on them. Pay particular attention to lighting around your exterior doors, especially the back door and the walkout door which is always a favourite with burglars.


Some experts also recommend that exterior lighting be installed with a timed dimmer. The lights can then be set to cast a bright light in the early evening, and then a dimmer light throughout the rest of the night.


Our favourite lights are installed with motion detectors, which can be very effective in the areas we mentioned before. These sensor driven lights turn on or brighten when someone comes onto that part of your property. Most thieves will run as soon as they see a bright light go on.


If you have a spare key that you want kept outside “Just in Case” make sure it is hidden in a good spot but easy to access, or go to Home Depot and buy a builders lock box for any access “emergency”. Don’t just put it under the front door mat or plant pot, the experience thief can fast track his way in, especially if he spots a member of the family reaching down to pick up what he suspects is a key.


So keep safe and warm till next time and Merry Christmas !


#homesecurity #motiondetectors

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Your Calgary Kitchen Re Model


The kitchen of the future looks pretty incredible. Many of us might have wondered what the kitchen of the future would look like. The futuristic high-tech kitchen features are available to all of us today! If you haven’t put in a new kitchen for a while, you will be astonished to see the level technology has advanced to.


Often we struggle with kitchen taps due to messy hands. Well, with touchless or one-touch kitchen taps, that will no longer be much of an issue – such taps are available from many major kitchen fixture manufacturers.

The latest kitchen cabinets available are a combination of eco-friendliness and cutting-edge technology. Features like blind corner accessories and rollout shelves, etc. The latest refrigerators are also very high-tech with features like high energy-efficiency, fridge and freezer sections.


The latest dishwashers on the market are also high-tech – not only do they have features like flexible loading and touchpad controls, but they are also extremely silent. Another interesting feature is that the appliance projects onto the floor the cycle time that is remaining.


One high-tech features you could look at for your kitchen is a steam oven – heat produced from boiling water is what is used to cook food in steam ovens producing very moist results full of flavour. These ovens also feature faster cooking times, and interiors which are easy to clean.


If you are looking at remodel of your current  kitchen pay attention to the design before getting carried away by and the latest gadgets. High-tech features make your kitchen better, but make the design and functionality your first priority.


Affordable Kitchen Cabinets  https://www.pieszakcustomcabinets.com/

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Photo: James Bombales


Sarah Niedoba - Nov 12, 2018


While Canadian home sales have been inching up month-over-month, they have remained firmly below 2017-levels all year. And, according to a new note from BMO senior economist Robert Kavcic, that’s unlikely to change anytime soon.


“The Canadian Real Estate Association will release the full set of October housing market data [this week], and the overall picture will continue to look stable/subded,” writes Kavcic. “National sales are estimated to be down 6 percent year-over-year, slightly improved from September’s 8.9 percent year-over-year decline.”


Kavcic predicts that the average price for a home will rise 1 percent year-over-year, partly due to the ongoing sales decline in the Vancouver market.


“Recall that in the prior month, the median average price gain across the 26 markets tracked was just under 3 percent year-over-year, confirming the relative home price stability across most of the country,” he adds.


Another continuing trend? A East-West divide in performance, with markets in Ontario and Quebec posting strong activity gains, while Alberta and BC continue to struggle.


“On the strong side, Ottawa and Montreal continue to churn out near-7 percent year-over-year price gains amid tight conditions,” writes Kavcic. “On the weak side, Vancouver sales were down a still deep 35 percent year-over-year, with prices for both detached homes and condos correcting.”


Meanwhile, the Toronto market has largely balanced out, with sales up 6 percent year-over-year.The average sale price for a home rose 3.5 percent year-over-year last month, hitting $807,340, and the MLS Home Price Index Composite Benchmark was up 2.6 percent year-over-year.


https://calgarydreamhomes.com/blog.html

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Stating this may seem obvious, but it’s often overlooked. If you want top price for your home, presentation is everything.  The idea is to make your home sparkle inside and out. Windows should be spotless, carpet should be thoroughly cleaned, along with all tile, lino, and wooden floors. Take the time to clean your built-in cabinets, kitchen appliances, and even the lighting fixtures. Make sure there is no dirt, dust, or cobwebs hanging around, and check out the extractor fans in the likes of bathrooms and toilets, for dust.


When selling a home, your objective is to make it appeal to the broadest range of potential buyers. If they can’t get past the green carpet and floral wallpaper and see themselves and all their furnishings in the home, then you have lost them. Put yourself in the eyes of a buyer and ask yourself how many potential buyers could move in with their furniture without having to repaint the walls or replace the carpeting. Staying neutral is the key, keep your colors so they will work with most furniture. Replace tired and dated carpet if possible, or make a price incentive for the buyer to do so after the sale.


The presentation of your home when buyers come to view it will have more impact on the sale than you know. A cluttered, dark, or unkempt home is like a distracting noise that prevents buyers from seeing the true potential, and they miss the best features. Create an atmosphere of warmth, comfort and cleanliness. Here are some suggestions on how to keep your home at its best for buyers:


Space & Light: The more spacious your home feels, the better.


Use light to your advantage, open curtains and blinds during daytime showings. Turn on lights to create an open, spacious feeling. This includes closets and storage areas. Add a lamp if necessary in an area that’s not well-lit.


Arrange furniture to give a sense of openness, so potential buyers don’t have to squeeze through areas. If you need to, take some furniture out.


Thin out your book shelves, don’t make them cluttered. Pick up shoes, clothing, toys, and other personal items before showing your home. Remove off-season clothing from closets, leaving as few items in them as possible. Make the home smell nice an offensive odor can destroy the appeal of an otherwise attractive home, nice scents can make it more homely.


Recently one of our clients removed 8 plastic imitation trees and their home sold within 2 days! It is great to have pets but beware! Most cat lovers cannot smell their own furry friends, but the potential buyer can, and will get turned off.


You can add some appealing smells with fresh flowers, baking bread, or a potpourri of lavender, cedar or cinnamon. A bowl of fresh fruit on a kitchen table in the summer can create a strong visual as well as aromatic appeal.


IT'S SHOWTIME!!!

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Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.