RESULTS OF OUR ROCKSTAR REALTOR POLL ONLINE!

Would It Make You Uncomfortable If A Seller Was Home

While You Were Viewing The House ?

SELLERS GO AWAY! 73%
SELLERS PLEASE STAY! 27%


WOW! These answers really suprised me. I was CONVINCED that the overwhelming vote would be YES for this question. As a realtor it makes me uncomfortable because part of my job is to point out the problems I see in a home, or things that would need to be changed to suit my buyer, and when the sellers are home you don't have the freedom to comment on the need to remove their godawful green countertops or bright pink carpet.

A couple of weeks ago, I was showing a home that really smelled. I mean REALLY! There was no way that my clients didn't notice it, so instead I just put it out there. "This house smells."

It would have been much nicer if someone hadn't been sitting in the other room out of site listening to me say that their house smelled.

I doubt that when i left that guy thougth to himself "gee, thanks, I didn't know my house smelled and maybe that's why it isn't selling. Why, I'm just going to run right out to the store and buy some Febreeze and open some windows. " Nope, we all left feeling mortified and I'm sure he just spent the rest of the day thinking about what a jerk I am. I mean, I AM a jerk, but I'm not THAT much of a jerk.

Also, there are legal implications and protection issues for a client as a seller that we need to be aware of as listing agents. When you see the comments below, you'll see that several of the NO voters liked the idea of being able to talk to the seller about the house. This is a BIG no-no for legal as well as strategic reasons.

1) The seller is not an expert. They may tell you that they were always planning on taking the wall down between the kitchen and dining room. you think this is a great idea, because the house is great for you otherwise, but that was the one thing keeping you from buying it... You do, and then find out you can't remove that wall afterall. If he hadn't made that suggestion, you never would have bought the house, and now you're stuck with a property you don't want...can you say lawsuit?

2) people lie. Yes, it's true. Although most people are honest and ethical, some people just lie. I remember one specific situation where I had a home listed and instructed my sellers to leave the house for the home inspection once it was sold. They chose not to take my advice. Two days before closing, the Buyer's lawyer called and informed us that there would be a $2000 holdback on closing! Why you ask? Because they claim that while they were at the house for the home inspection, they asked the sellers(my clients) if they would be leaving their drapes. (they were specifically not included in the agreement because they were taking them with them). According to the buyer, the seller had agreed to leave the drapes and rods for them but when they went for their final visit, they were removed. My clients claim never to have said any such thing, since they had always intended to take them to their new home, I believe them. The buyer just lied. But it tied up the closing and at the end of the day, just to get it to close so that they could get their money out for their new house, they had to settle for giving the buyer back $1000. All because they wouldn't go out.

3) People don't really care about you! When buyers ask you how you like the neighborhood, where are you moving to? Why are you moving there, etc, do you really think they care about you, a stranger, and your life plans? NO!! they are milking you for information. They want to know if the neighbors are jerks, or if your'e desperate to sell because you were supposed to be on the west coast 3 weeks ago. These are things they will use later to negotiate the price downward.

Of course, I'll be thinking about the results of this poll and how it may affect my advice to my clients about whether or not they can stay home for showings. I am a lot of things, but I am always willing to admit that I've been wrong and I certainly was when I thought it would make everyone as uncomfortable as it made their agent!

Learning to Navigate the Toronto Real Estate Market from the Outside

A lot of my clients lately have started to feel a little homesick and forlorn being away from the city centre for so long, and have decided to make that move back to the hustle and bustle of city life. When we get there however, they are usually shocked and a little confused about how the market is in the city after getting used to the 905 real estate perspective. of course we're talking about homes, not condos here (there's much more inventory and locations are totally different) but if you're looking for a family home in Toronto, you need to get ready!

My most recent foray into High Park and Riverdale with some clients inspired this blog today. Although they are frequenters into the city since their move to Markham, the real estate market is a totally different ballgame, and although we prepared ourselves for the difference in real estate culture, we still got some suprises, some high emotions and definately some reminders on how things move differently in the Toronto Home Market.

1) Have a thick skin - In york region, most realtors have a culture of professional courtesy. Although there are a lot of agents in the 905, most of the higher producing agents tend to deal with the same higher producing agents on a regular basis. If it doesn't make us friends, it at least makes for a modicum of respect and geniality. when you know you're going to have to deal with someone over and over through the years, it's always in your best interest to keep things pleasant. Of course we battle every day for our clients, but all with the understanding that it's just business and we're all doing our job to do the best possible job for our buyers and sellers.

Toronto agents are a different breed. They deal with strangers every day, and for the most part, they rarely deal with the same agent more than a couple times in their career. Because of this, i find that the same professional courtesies just don't apply. They come out of the gate with guns blazing, and bedamned any finesse or sparing any buyer's feelings or ego. For someone not prepared for this cutthroat way of doing business, buyers can be left feeling offended, browbeaten and sour about their whole negotiating experience.

Remind yourself that this is just business. They don't need to care about your feelings, and they really DON'T care about what your thoughts are on the house and what it needs to bring it up to par. In the Toronto market, real estate is dear and if the last comparable home sold for $50,000 well then you just should have bought that one.

2) Bring the Money Honey - in the 905 it is very common practice for a deposit on a home to be $10,000 unless you're looking at homes over the half million dollar mark. lets face it, $10,000 is a lot of money and most buyers wouldn't walk away from that kind of cash.

In toronto however, realtors and their clients expect bigger deposits. A $10,000 deposit on a home in Toronto, even one at $350,000 is considered to be ludicrous. They routinely expect deposits to be in the realm of $25,000, $35,000 even $40k or $50k as satisfactory security. If you come in with the 905 standard deposit, be prepared to be asked for considerably more, or to be turned down outright, no matter what your offer price is.

3) Prepare yourself to pay top dollar - Toronto realtors don't believe in the art of negotiation. They have the commodity you want and they expect you to pay for it. Also, several owners in the Toronto area fall into the "don't need to sell" category. They've inherited a house, it's an investment property, or they just won't move unless they get the number they want. If you think you're negotiating a lower than asking price, make sure you get armour and perhaps a big flaming stick to whack the other realtor over the head with, otherwise, you're paying pretty darn close to asking. Even then, i'm pretty sure that Toronto Realtors have some sort of genetic flame retardency that even a flaming stick won't get through. If you don't like the number that they're starting with, go somewhere else because you're not talking them out of it

4) Take some time off work - once you've selected a home, that's it, you're in. Realtors WON'T tie homes up over a weekend, so the 5 day conditional rule is pretty much out the window unless you get in on Sunday night. Most of the time you're looking at having those conditions reduced to 3 days so you'd better have your ducks in a row before you go in with your offer. That means having the deposit in your account, having your mortgage preapproved and having at least a couple of inspectors on hand so that you have someone available immediately to inspect the home. Home inspections take 3 hours or sometimes more, and you'll be doing a lot of running around certifying deposit cheques, booking inspections, appraisals, etc. Don't expect you can get this done outside of office hours. Business happens from 5-9 and you need to be available for it.

5) Know what you want and be prepared to pounce on it - Homes sell fast in Toronto. At any given time, based on your criteria, there are probably only 5 or 6 homes that match your needs in the area you want. Out of that, 3 of them will be in unsuitable condition for your desires, one will have a crappy floorplan and the other will sell out from under you while you're tossing the last two options back and forth in your mind. When you see a house you like, offer on it! if you think that perfect could be just around the corner, you're right, but it's more money than you want to spend or it doesn't afford the same ability to put your own sweat equity into it to make a suitable profit. The one house that's left is the one you've got. You can always change paint colours, countertops, even landscaping, fences, flooring and finished basements. be realistic about your price point and accept the inevitable. if YOU think it's the best of the bunch, so will everyone else that's looking for the same thing you are. if you don't offer NOW, they will, and you're back to square one.

6) Location is everything - you want a certain neighborhood or school district? You want to be closer to a subway station or a particular park? So does everyone else. Be prepared to pay more money for better streets and locations, regardless of the house condition or features. Esthetics can always be changed, but you can't move a house, so we must sometimes be more forgiving of homes that need work in the same pricerange as more glamorous abodes, just because they have a better location. you can always make your home fabulous from the inside, as long as it's in the area you desire.

7) Be excited! remember why you're buying in Toronto. The lifestyle, the proximity to work, the atmosphere and the fabulous culture of excitement, success and metropolitan style. When you're discouraged with numbers 1-6 and you're feeling down or worried that THE HOUSE will never come along, remember that every great gain in life comes with great sacrifice. To be where you want to be in this city is paramount. Keep your eyes on the prize baby. It's hard going now, but once you're there, you'll have everything you want. It's worth the ride.

DON'T EVER USE AGENT IMAGE OR THE DESIGN PEOPLE FOR YOUR WEBSITE

well i'm very disappointed. when i embarked on the project of the new website, i was stoked, thrilled and eager to see the results. i chose a company called Agent Image.. that's www.agentimage.com also known as The Design People. Their sites looked good, their customer service was really on top of things and the design team they assigned me seemed to know their stuff. i paid in full (i guess that was my mistake) and the build began.

at first my team was prompt, communicated with me well, and answered my questions. This was October of last year... and then the problems started

proofs did not come to me for approval. it was up to me to contact my designer and ask him what was happening. Every time he'd say something like "thats weird, i sent it to you a while ago. i'll resend" and then magically it was in my inbox. i can't even count how many times this happened.

my project manager was Anthony Martinez who was at first prompt and pleasant, but as the months moved on, i heard from him less and less. At this point he doesn't even dignify my emails with a response.

My site lauched at the end of March after 5 months of emails, phone calls, prodding and complaints, but suprise!! it doesn't work! all the dropdown searches on the main page are blank. the subsidiary pages are much narrower than the main page and look stupid, and all my features are non functioning.

it looks good, but right now it does nothing.

these days i'm met with silence when i email my team, the support department has assured me they are on it... a week and a half ago.

what a shame that this promising company turned out to be such a badly run business. I'll be calling them every day until they fix my problems, or alternately, i'll settle for a full refund and take my business to someone who gives a shit.

NEW GOVERNMENT CHANGES TO MORTGAGE RULES FOR PURCHASERS!

Changes to mortgage rules for purchasers are changing as of April 19th!! In an effort to keep buyers from getting mortgages that may be unmanageable when the rates increase, as of April 19th there will be new restrictions for purchasers, specifically for those making purchases on investment properties that will not be owner occupied.

Here are the basics:

1)If you are a purchaser who is intending to live in the property you are buying, you will still be able to purchase the property for 5% down. But you will be required to qualify based on the 5 year fixed rate even if you take a lower rate and term when you close. (currently most financial institutions use the 3 year fixed rate to qualify you)
2) If you are refinancing your home (borrowing from the equity in your property to pay off debts or make improvements) the maximum lendable loan to value will be reduced from 95% to 90%.
3) If you are investing in real estate, specifically in a non-owner-occupied residential rental property, the downpayment required will no longer be 5%. You will be required to provide a minimum of 20% down on your new investment purchase.

You can find the full press release from the Department of Finance at http://www.fin.gc.ca/n10/data/1-=011_1-eng.asp

what do you think of these new changes? is it big brother going too far or a smart financial move for the security of our nation's economic stability?

TO FLIP OR NOT TO FLIP ...

i've had some inquiries lately about house flipping. now that the market is starting to improve, my clients are starting to see the value in purchasing real estate as an investment again, instead of just as a housing solution.

i think flipping is a GREAT idea if you do it right, but there is a lot of time,work and research involved.

THE MONEY: you need to work out a budget for the project. how much do you have for a downpayment? do you qualify for financing on a 2nd property? do you have liquid cash for the cost of materials and labour to improve the property or do you qualify for a line of credit to cover that cost? what kinds of carrying costs are you looking at until the house resells? what type of value return can you get on the flipped property you're considering?

THE HOUSE: how much work does it need? is there anything major wrong with the home. are you looking to do major changes for a bigger return or cosmetic improvements for a small safe return on your investment?

THE TIME: when do you want to start your project? do you have a team ready or do you need to hire a professional? have you strategized your plan of attack with specific dates and deadlines in mind?

these are just a few of the things you need to consider when buying a flip property, but if you do it right, it can be a real money maker for you. i know people who just supervise the flips at this point and don't even do any of the work and it's their full time job! but it doesn't start out that easy. everything builds from your last project and it's a challenging thing to undertake if you're jumping in on your own.

I'm experienced in the process. Call me and let's talk about how to make it happen for you.

GET READY FOR THE SPRING MARKET NOW!!

It's a common misconception that the Spring market actually starts in the Spring. Actually, the spring market in the past 7 or 8 years has begun anytime between January and March, depending on the weather and pent up buyer demand.

2010 promises to be a very unique and aggressive year in the real estate market. After the fast and furious crash took the world by suprise at the end of 2008 and the first half of 2009 real estate owners and buyers have been a little shell shocked by all the quick changes and are kind of drifting aimlessly in real estate limbo.

This year I predict the market to rear it's head on or about January 15th. Buyers are out there just waiting for their next home to appear on the market and inventory has been so low they're practically chomping at the bit to buy. Additionally all the sellers i've been speaking to have told me they are holding off until spring to list which means a lot of homes coming out at the same time.

Be smart and get the edge on your competition. Make sure you're the first out of the gate on January 15th! Your home will sell fast if you put it up now. And if you're a buyer, don't waste time! the time to be out shopping is now! you want to be the one to snatch up the hot properties while eveyrone else is waiting for the spring market to start. Only the truly informed and savvy buyer or seller knows that the spring market is already here! don't miss it.

MORTGAGES NOW AVAILABLE FOR FIXER-UPPERS!!!

CMHC offers a wonderful residential mortgage product for people who are looking at getting into an affordable property with the intention of improving and still only have to put 5% down. the problem with fixer-uppers always lies in the fact that you pay your downpayment, and move into the house, but then where does the money come from to do renovations? out of your pocket, and who really has that type of money? Well now there is an alternative. You can get a mortgage for the selling price of the house PLUS whatever improvements you plan on making, and only pay your downpayment of 5% on that number! that way you can still get into the hosue that you want, and get the financing to make your changes at today's oustandingly low interest rates. it's the best of both worlds. Conditions apply, so call me today to book a consultation to see how this mortgage can work to get you into your new home fast and for very little down. Sara Hamilton 416-662-5286 or email sara.hamilton@sympatico.ca

Stouffville Revitalizing Main St

The owners of properties on Main St. Stouffville have all received a notice recently announcing that the town has put together a fund for the revitalization of Main St. and that owners of properties there may submit applications to get access to some of these funds to improve their own storefronts, signage and landscaping for the betterment of the community.

This is especially exciting not only for the Main St. property owners, but for the residents of Stouffville in general. A revitalization of their downtown core will encourage business and create a new atmosphere of evening strolls to bistros, chic little shops and historical charm much the way that Unionville has become a highly desired - and expensive - neighborhood.

Also wonderful is that the whole area should see a steady and impressive increase over the next decade. So are you thinking about buying in Stouffville ? Now is the time to do it, because prices are only going to go up. Now is the time to get in on the ground floor before prices start rising and we're giving posh Unionville a run for their money... Literally!

How to Make Buyer's Love Your Home & Buy it FAST

You want to sell your house fast and for top dollar right? Of course you do! That means you need to do everything you can to make that happen. If you do it right, you'll be sold so fast these changes won't even seem like much of a hassle! Think positive and follow the rules and you'll be sold in no time!

Let's just remember this one rule first: the way you live in a home is not the way you sell one! There's nothing wrong with your house if it works for your life, but when you're selling, you must make sure your home appeals to a broad range of buyers. The biggest mistake that I see sellers make is believing that the house should reflect your OWN taste for showings. I can't tell you how many times i've heard someone say "but i like it like this" or "i think it looks great". IT DOESN'T MATTER. You're not buying your house and neither am I, so our opinions don't matter. It's what the buyer thinks that counts and you have a very short window to impress them. Here are my rules about mistakes that sellers make that makes buyers want to go right back out the door. Ignore them at your own peril and that of your final selling price!

1) YOUR PETS NEED TO GO ON VACATION - I know you love them, but buyers don't like pets. A dog that meets someone at the door can make many people uncomfortable or frightened. Also, many people have allergies to animals that will make them discount your home as a possibility. Find somewhere else for your beloved little ones to go for the showing period, remove all pet toys, beds and dishes.

2) SHED SOME LIGHT ON THE SITUATION - Dark rooms can be a turnoff for most buyers. Leaving the lights on and making sure the house is at a comfortable temperature creates a feeling of space, comfort and ease that you want your buyers to feel when they are considering your home as their purchase. Turn on all your interior lights, including lamps, pot lights and overhead fixtures and don't forget your exterior lights too! AVOID ENERGY SAVING BULBS! eco and wallet friendly they may be but think of what flourescent lighting does for your face and you'll understand what they do for your home. Regular lightbulbs shed the most flattering light.

3) JUST GET OUT- Yes, i'm talking to you. Please I'm just begging you from the bottom of my heart to vacate the premises for showings. You have no idea how uncomfortable it is to show a home when someone is there. If you absolutely have to be there, DO NOT try to assist them with their tour, and DO NOT follow them around the house, just make yourself as scarce as possible. A buyer needs to be able to feel like they are considering their own prospective home, but if you are there they just feel like you're intruding on someone else's house instead. If they can't be comfortable in the space, they won't buy it!

4) MAKE IT SMELL NICE - Another big one on the list of reasons to not buy a home... cigarette and pet smells are least popular, followed by mildew and strong cooking smells. We all know smell is a sense of association and buyers will not associate their new house with unpleasant scents. Even if your house doesn't have a particular smell it doesn't hurt to make your home smell fresh and clean. I recommend Original Febreeze for all pourous surfaces like carpets, pillows, furniture and towels - even in the linen closet. Febreeze also offers plugins that are ok if you can keep them in outlets out of sight, or scented candles. Avoid flowery or fruity smells they can be overpowering and men don't appreciate them. Stick to yummy scents like cookies, pumpkin pie or vanilla. They'll appeal to your buyer on a very basic level and create feelings of warmth and comfort.

5) CLEAN UP - I know this one seems obvious, but you'd be astonished to know how many homes I bring clients to and their feedback is "I can't believe people would show their house looking like that". A buyer won't even be able to focus on the house itself if they're just looking at your mess. So please, clean up. Don't leave dishes in the sink, don't leave your toothbrush and hairbrush on the vanity, put your laundry in hamper and make your bed. Make sure your basement is tidy and all storage items are packed away neatly in boxes and tucked out of the way. Make sure your cupboards and closets are clean so buyers will feel like they that the house has sufficient storage space to keep them organized. Make sure window sills are dusted and bathrooms are shining. It goes a long way to making a buyer feel like this could be their home.

6) NEUTRALIZE YOUR SPACE - When you're getting your home ready, personal taste should be replaced with neutral decor. The easiest way is to get a home stager. Estimate that you will spend about 1% of your list price getting the home staged but don't be intimidated-IT'S WORTH IT. Stats show that a staged home gets a return of between 5% and 15% more than a similar property that has had no staging work done. That's a pretty good return on your investment! I personally love "Style Infusion" and have used them for years. Call for to schedule a quote at 905-936-4931 and ask for Laura. If you feel you can undertake the project yourself, there are things you can do yourself. Of course I'll give you a complete list when I visit your home, but the basics will do for the purpose of this blog. Paint the house in a neutral colour like Sandbeige or Hempseed. Get rid of all the wallpaper you can unless it's VERY high end. If the carpet is looking worn or dirty, get it cleaned. Clear off all surfaces. Pack away all our odds and ends and remove all personal pictures and things off your fridge. I can send you pictures of staged rooms so that you can get an idea of what your house should look like.

7) MANIPULATE WITH MIRRORS - Art is much too personal and can evoke feelings that aren't conducive to a sale. Replace your art with large darkwood framed mirrors instead. It will trick your buyer into seeing themselves in your home everywhere they turn and their brain will start to develop a subliminal attachment to the property. I's tricky but true!

8) IMPROVE YOUR CURB APPEAL - if your exterior already looks good, no worries, but most of us could use some tweaking. Mow the lawn, touch up paint on any railings or windows, make sure you have a nice little garden out front or some planters with folliage inside. A nice little table & chair on the front porch never hurts. The easiest way to address this is with a Curb Appeal Makeover. Starting at about $250 for a nice property cleanup and shine with Backyards & Dreamscapes in Aurora 905-841-3111

Do these things now, before the house goes on the market because once you've developed a reputation, it will be too late. Remember, realtors talk. We've all heard the talk around the office of the house the smells like pee or the house where the seller follows you around. Most of these changes are simple and relatively inexpensive, but the return that you will get will be worth the extra effort. Your home will show better than everyone else, and will sell faster and for more money too! Remember, a home is only worth what a buyer is willing to pay for it - show them you're worth it!

Are you waiting to sell in the spring?

Alot of my clients would prefer not to show their house over the holidays but to get it ready in Jan and Feb in order to be ready for the spring market in March. This is not a bad idea, but that doesn't mean you should be idle, or try to do it on your own! Involve me in the process. The BEST time to have me to your home is now, when I can see it in it's PURE state (which means exactly the way you live in it, not the way you dress it up for when I visit). This way i'll be able to give you honest criticism and suggestions about what to do to improve your home for saletime. Most of my sellers find that the things they thought HAD to be done weren't even on my checklist.

Also remember that when real estate happens, if you do it right it will happen FAST! that means there will be no time for planning our plan of attack on the market if we don't get a jump start on our calendar. We can get all the dates set out, structure your customized advertising plan and make sure you have spots reserved for your home as a feature property in my time released adveritising. If you start too late, there won't be time to get you in on these exciting and important peices.