Are you thinking of selling your home? If so, it’s important to remember that there is more to the process than just putting a “For Sale” sign in the yard. In order to get the best price for your home and sell it as quickly as possible, you need to take a strategic approach. That’s where this blog post comes in. We’ve asked our real estate agent friend for her top tips on how to sell your home. Keep reading to learn more!
Set The Best List Price
You may have an idea of how much you want or need to get for your home, but be sure to consult with a real estate agent before setting the list price. They will do a comparative market analysis (CMA) which takes into account recent sales of similar homes in your area, as well as any current listings. This will give you a good idea of what your home is really worth in today’s market.
You don’t want to overprice and risk having your home sit on the market for months, or even years. But at the same time, you don’t want to underprice and leave money on the table. Work with your real estate agent to come up with a list price that is realistic and will attract buyers.
Once you have your list price, it’s time to get your home ready for showings. This includes decluttering, deep cleaning, and making any necessary repairs or updates. You want potential buyers to see your home in its best light, so they can imagine themselves living there.
Consider Selling For Cash
If you’re considering selling your home, you might want to consider doing it for cash. There are many benefits to selling your home for cash, and one of them is that you won’t have to go through the hassle of finding a buyer and going through the standard home-selling procedure.
Another benefit of selling your home for cash is that you can avoid having to pay commissions and other fees. When you sell your home through a real estate agent, they will typically charge a commission, which can be a significant amount of money. By selling your home for cash, you can avoid having to pay these fees.
Selling your home for cash is a great option if you’re looking to sell quickly and avoid paying commissions and other fees. If you’d like to learn more about this alternative, I encourage you to contact a cash home buyer in your area. If you are from Texas you could be looking for cash home buyers in San Antonio, if you are from New York you could look for cash home buyers in the Tri-State Area, and so on. They will be able to provide you with more information and help you determine if this is the right option for you.
Get Your House Inspected Before Selling
Most home sellers are so anxious to get their house on the market and sell it as quickly as possible. They don’t want to spend any more money than they have to on their home, so they often skip getting a pre-sale inspection.
I’m here to tell you that skipping a pre-sale inspection is a big mistake. Sure, it may cost a few hundred dollars up front, but it could end up saving you thousands in the long run.
A pre-sale inspection will identify any major repairs that need to be made before putting your home on the market. By making these repairs before listing your home, you’ll be able to avoid any last-minute surprises or repairs that could eat into your profits.
If you’re not sure whether or not to get a pre-sale inspection, just ask your real estate agent. We’ve seen it all, and we can help you make the best decision for your home sale.
Increase Your Curb Appeal
You can start by giving your home a good cleaning. This will make it look its best for potential buyers. You may also want to consider painting the trim or repainting the front door. These are all relatively inexpensive ways to increase curb appeal.
Another tip is to declutter your yard and porch area. Remove any toys, lawn equipment, or other items that make it look cluttered. You want buyers to be able to imagine themselves relaxing in your outdoor space, not wondering where they would put all of their stuff.
Finally, make sure your home is well-lit both inside and out. This will make it appear more inviting and welcoming. Buyers should feel like they could see themselves living there. If you follow these tips, you will be sure to increase your curb appeal and make a great first impression on potential buyers. Good luck!
Stage Your Home For The Right Buyer
When you are selling your home, it is important to stage it in a way that will attract the right buyer. You want to make sure that your home is clean and organized, and that it reflects your personal style. If you are not sure how to stage your home, hire a professional stager or ask your real estate agent for advice.
Once your home is staged, you need to take good photos that show off your home in its best light. These photos will be used in the listing, and they will also be the first thing that potential buyers see when they are searching for homes online. Make sure that your photos make a great first impression!
Don’t Over Improve
If you’re planning to sell your home, don’t over-improve! It’s tempting to want to make a bunch of upgrades before putting your house on the market, but resist the urge!
You might not get your money back if you do too much. Instead, focus on making small improvements that will increase the value of your home without breaking the bank. For example, painting the walls or updating the hardware in your kitchen can make a big difference without costing a lot of money.
If you are thinking of selling your home, it is important to follow these tips in order to get the most money for your home. By getting a pre-sale inspection, increasing curb appeal, and staging your home correctly, you will be sure to attract the right buyer and get the best price for your home. Good luck!
Ottawa's commercial real estate market to 'remain vibrant' in 2022, Re/Max says – Ottawa Business Journal
Ottawa’s commercial real estate sector is “gaining momentum” thanks to a booming industrial market and a retail industry that’s roared back to life in recent months as pandemic-related restrictions have lifted, according to a new report.
After topping $3.8 billion in a record-setting 2021, commercial investment activity in the National Capital Region is on pace to exceed that amount this year, Re/Max says in its 2022 Commercial Real Estate Report released on Thursday.
Citing the Conference Board of Canada’s projection that Ottawa-Gatineau’s GDP will grow by 3.4 per cent in 2002 as the tech and construction sectors heat up, the firm said that sunny forecast should bode well for real estate investors.
“Against this backdrop, the city’s commercial market should remain vibrant, with improvements projected in the office sector as the pandemic recedes from the forefront,” the report said.
Re/Max singled out the red-hot industrial sector as the star performer in Ottawa’s commercial real estate scene.
1.7% availability rate
The report cited the city’s close proximity to 400-series highways and the U.S. border as prime reasons for the ongoing surge in industrial activity, adding the limited stock of available properties is “presenting serious challenges” for investors seeking to capitalize on the sector’s growth.
According to the Altus Group, Ottawa’s industrial availability rate sat at 1.7 per cent in the first quarter of 2022, down from 3.1 per cent during the same period a year earlier.
“While intent (to invest) exists, a shortage of available inventory for both lease and sale has fallen short of demand, especially in the popular west end,” Re/Max said.
The company said the space crunch has pushed industrial lease rates to a new record average high of a net $15.50 per square foot – a 30 per cent increase over the average of $12 per square foot just two years ago.
“In the city’s east end, smaller space is almost impossible to find, with listings that do come on stream snapped up quickly, often at a premium,” the report said.
Meanwhile, Re/Max said Ottawa’s retail real estate sector has “rebounded with a vengeance” after a difficult two-year stretch in which COVID-19 wreaked havoc with brick-and-mortar stores, restaurants and other mainstreet businesses.
Smaller spaces have been almost completely snapped up in major malls such as the Rideau Centre, Bayshore Shopping Centre and St. Laurent Shopping Centre, the report says, adding that vacant storefront properties in areas like the ByWard Market, Glebe and Westboro are also being occupied at a brisk pace.
“Negotiations with landlords are more complicated than in years past, with many wanting guarantees in the form of personal covenants,” Re/Max said. “The glut of space available last year has been absorbed, albeit at a slightly lower lease range.”
Suburban mall revival
The report said suburban retail complexes are also undergoing a renaissance, with fitness facilities, restaurants and fast-food outlets among the major tenants taking over space in big-box malls.
The company isn’t as bullish on the office sector, which still has an overall vacancy rate above 10 per cent. With many civil servants still working from home, Re/Max said it could be a while before Ottawa’s office towers are teeming with tenants again.
As a result, the company said, landlords have started offering incentives such as free rent for a year and various leasehold improvements in a bid to fill vacant properties.
“At the same time, the relatively low interest rate environment has generated an upswing in demand for office buildings in suburban areas like Kanata,” Re/Max added. “Most are smaller, commercial buildings ideal for professional offices, generally sought-after by end users.”
3-day 'cooling off' period, transparent bidding recommended to transform B.C. real estate sector – CBC.ca
The regulator for British Columbia’s real estate sector has recommended that the province adopt a so-called “cooling-off” period of three business days to protect people buying a home, through legislation tabled this spring.
A report from the B.C. Financial Services Authority released Thursday advises that sellers be required to provide reasonable access for a property inspection during the three-day homebuyer protection period, which would start the day after an offer is accepted.
It also advises that B.C. implement a “modest” termination fee of 0.1 to 0.5 per cent of the price of a home to be paid by buyers who pull out of a deal.
The fee “strikes a balance between discouraging frivolous offers and recognizing the disruption in the selling process,” the report said.
Additional recommendations include a five-day “pre-offer” period after a property is listed, when a seller may not accept any offers, along with suggestions aimed at enhancing transparency in the transaction process.
For example, the report advises that key strata documents should be made available when a strata property is listed. The province could also require buyers to disclose to sellers any other active offers they’ve made, it suggests.
The report also recommends ending blind bidding and exploring an open bidding process used in many Scandinavian countries.
Homebuyers pressured to take ‘unreasonable risks’
The B.C. government introduced amendments to property legislation in March. Finance Minister Selina Robinson tasked the independent regulator with consulting the real estate industry on the parameters of a cooling-off period and other potential measures.
Robinson says the province is reviewing the report, and her aim is to move “relatively quickly” with the bill that passed its third reading last month, but the real estate industry also needs time to adjust and adapt to the changes.
The province has heard in recent years about homebuyers feeling pressured to take “unreasonable risks,” such as waiving home inspections, which has led to “horror stories,” Robinson said at a news conference on Thursday.
“I’m eager to move on these elements. I do need to have more discussion with [the B.C. Financial Services Authority] and others around what time frame is needed to act, certainly around the buyer protection period,” Robinson said, noting there’s a “whole range” of other recommendations.
Aims to increase transparency, consumer protections
Blair Morrison, CEO of the B.C. Financial Services Authority, said at a news conference there would be “adjustments” to the current real estate transaction process to bring the homebuyer protection period into force.
In developing the report, Morrison said the authority hosted 20 consultation sessions with more than 140 people from across B.C.’s real estate sector.
“We think this is core, basic, good consumer protection that should apply throughout British Columbia,” he said.
“We want to make sure this works for the sector, for the real estate [agents], for the lawyers and other parts of that process,” he added.
He said the review was not intended to address housing affordability in B.C.
The report also considers “blind bidding,” a common practice in which sellers are not compelled to tell prospective buyers about competing offers.
That lack of transparency can “skew the perception of market fairness and potentially lead to distrust in the real estate transaction process,” it said, pointing to concerns about inflated valuations or buyers overpaying for a home by offering a price that significantly exceeds the next highest offer.
The regulator looked at open-bidding alternatives, advising B.C. to consider options such as live auctions and anonymous disclosure of other offers.
Calgary retains commercial real estate team to revive new arena – CTV News Calgary
The City of Calgary has recruited three people from the commercial real-estate sector in an effort to get a new event centre to replace the aging Scotiabank Saddledome.
CBRE executive vice-president John Fisher, director of strategic initiatives with NAIOP Calgary Guy Huntingford and Ayrshire Group executive chairman Phil Swift have been retained to engage both the city and the and Calgary Sports and Entertainment Corporation (CSEC) to reach a new deal.
At Wednesday’s meeting, the city’s planning and development manager Stuart Dalgleish told committee members the group has already begun their work.
“We are at a stage where our third party is having discussions with both the Calgary Sports and Entertainment Corporation and the City of Calgary, with a view to determining whether there is interest in discussions toward a new event centre, and a new deal towards the new event centre,” Dalgleish said.
Mayor Jyoti Gondek is optimistic the team will be able to break the impasse between the city and CSEC.
“Today’s news is good news, and we need to be patient with what comes following this,” she said.
Ward 1 Coun. Sonya Sharp, who chairs the event centre committee, says naming a third party to assist in negotiations is a big step to seeing a new arena rise from the ashes of the failed deal.
“I’m very satisfied. There’s been a lot of work been put into this to get to where we are today,” she said. “Everybody wants an event centre built.”
However, sports economist Moshe Lander says it might not be such a great deal for most Calgary taxpayers.
“The issue about who should pay for it is something that goes on in every city, more or less, anytime there’s an arena or stadium discussion,” he said.
“In almost every single case, the public sector blinks first and ends up throwing money at a project that’s not going to recoup its costs.”
“Really, it’s just an issue at this point of how much money does the City of Calgary want to throw at this project, understanding that it’s not going to get it back? How much does it want to sell to the taxpayers that this is what you’re going to be on the hook for, even though the vast majority of residents in the city are not going to use that arena in any capacity?”
CTV reached out to CSEC on Wednesday to ask if the owners still had any interest in reviving the deal. There was no response by publishing deadline.
The original agreement was signed in December 2019. In it, the city and CSEC agreed to split the cost of the $550 million project. When the price tag jumped to over $630 million, the Flames ownership group balked and cancelled the deal. It officially expired New Year’s Eve 2021.
Earlier this month, NHL commissioner Gary Bettman met with CSEC to discuss the arena, among other topics. At the time, he told reporters he remained hopeful a deal could be struck.
“I’m always optimistic,” said Bettman. “There’s nothing going on right this second to report that would indicate there is going to be a solution immediately, but my hope is that everybody can figure this out.”
Bettman also warned without a new arena or an updated Saddledome, Calgary would miss out on significant NHL events such as All-Star games.
The Saddledome is the second-oldest NHL arena behind only New York’s Madison Square Garden.
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