Tuesday, September 22, 2009

A ‘Do’ List for Prospective Homebuyers

For most Canadians, buying a home is the most significant investment of their lives. And although real estate sales in 2008 are continuing strong with prices still on the rise, your local Coldwell Banker® sales professional will tell you that today’s market still presents many genuine real estate opportunities for homebuyers. Housing inventory is moving up in most major centres across the country, leading to a more balanced market. Historical data demonstrates that purchasing a home has proven a sound long-term financial investment. However, homebuyers – especially first-time buyers -- are often understandably anxious when it comes time to making what could be the largest purchase in their life. Coldwell Banker Real Estate LLC has come up with some simple "do” and “don’t" lists to make the process easier for everyone dreaming of homeownership.
The Homebuyer ‘DO’ List:
• DO utilize free online tools to arm you with as much knowledge as possible. For example, the Home Price Comparison Index available at http://www.coldwellbanker.com offers buyers a way to compare average housing costs in over 400 markets across North America.
• DO access and closely review your credit score. A sound financial track record and solid credit score can help lock in a loan and lower interest rates. Check your records in advance to catch any errors ahead of time, and to better understand how lenders may perceive you.
• DO explore mortgage pre-approval. Getting this early green light will help others involved with your purchase that you are serious about home ownership – and well-qualified.
• DO line up your "all-star" team of professionals before game day. A team of experienced professionals will be key to making the home buying process simple and seamless. Start by interviewing and selecting a sales representative who you "connect" with. Your local Coldwell Banker® sales professional can help you identify suitable lawyers, mortgage lenders, home inspectors and others who play a role in the process.
• DO anticipate your future needs and buy for lifestyle. Try to anticipate how long you’ll live in your next home and plan for major lifestyle changes when possible. What may make a perfect starter home for a couple might not work as well when children come into the picture.
• DO hone in on your housing priorities. Your ideal home may have a porch, a pool and five full baths. But before you start looking, make sure to separate your "must-haves" from your "nice to haves," so you know where you can compromise to meet your budget.
Wondering about the “Don’t” list? Stay tuned for our next column, or better yet, contact your local Coldwell Banker real estate professional now to learn more.


Gary Reed gary@garyreed.org http://www.garyreed.org Coldwell Banker Home & Family Realty Brokerage 1515 Rebecca Street, Unit 21
Oakville, Ontario
Canada
L6L 5G8 1-800-695-7283 905-825-7777 905-825-3593 (Fax)

A ‘Don’t’ List for Prospective Homebuyers

There’s a lot to consider when buying a home, and especially in today’s changing market conditions. As your local Coldwell Banker® sales professional will tell you, many markets across Canada are beginning to moderate and become more favourable to buyers. So while you’re considering a possible home purchase, here’s a Homebuyer “Don’t” list that may help you avoid some common mistakes:
The “DON’T” List for Prospective Homebuyers:
• DON’T fall in love with the first house or neighbourhood you see. That grand colonial with the picturesque view may win your heart at first glance, but you need to keep an open mind to make sure you find the right fit for all your needs. At the end of your search, it may turn out that the riverfront ranch that’s closer for your commute is a better bet all-around.
• DON’T buy beyond what you can afford. It’s easy to fall into that all-you-can-eat attitude, especially when it comes to your first home purchase. You "want it all" when it comes to size, amenities, location, etc. But remember that your eyes may have a larger appetite than your wallet. Make sure the down payment, closing costs, monthly expenses and taxes are truly within your income and savings range before you sign an offer.
• DON’T treat your home the way you treat your stock portfolio. It’s unrealistic and unwise to expect your housing investment to appreciate as quickly as you’d hope for your high-risk bonds. Buying for lifestyle, and remembering that real estate is a great long-term investment, will help you look at home purchasing and ownership in the right context.
• DON’T jump into a confusing mortgage. Be sure to read carefully through every aspect of the proposed agreements to fully understand your end of the bargain. For instance, an attractive rate now may be difficult to carry if rates change during the term of your mortgage. Arm yourself with information and don’t be afraid to ask questions.
• DON’T underestimate the value of your local Coldwell Banker real estate professional. While being a savvy buyer and doing your homework will help on the road to homeownership, a local expert with years of negotiating experience is invaluable when it comes to scouting out the perfect home – and closing the deal.
If you’d like to know more about our Homebuyer “Do” and “Don’t” lists, or if you have any questions about the market or the home buying process, then just pick up the phone and contact your local Coldwell Banker real estate professional. It might just be the best call you’ll ever make!


Gary Reed gary@garyreed.org http://www.garyreed.org Coldwell Banker Home & Family Realty Brokerage 1515 Rebecca Street, Unit 21
Oakville, Ontario
Canada
L6L 5G8 1-800-695-7283 905-825-7777 905-825-3593 (Fax)

A Winter ‘tune-up’ for your home

Winter is a time of year when many of us resolve to get ourselves in trim, whether it’s joining the gym or a dance class, or perhaps buying some exercise machinery for our home. We devote a lot of attention to our cars too, putting on the snow tires, changing to winter anti-freeze, loading a bag of salt in the trunk. But what about a ‘tune-up” to get your home operating at top efficiency? While we’re snuggled in at home during the winter months, its a good time to make a few home ‘tune ups’ that could save you money while helping your home to run more efficiently.

A good place to start is by making your home more energy efficient. There are many ways to do it for very little expense. For a modest investment in the $50 range, a thermostat timer will allow you to pre-set your thermostat to turn itself down a few degrees after you go to bed each night, and turn the temperature back up before you get out of bed each morning. If you’re normally out of the house all day, you can achieve even greater savings by repeating the process when you leave your home each day.

Another simple and inexpensive way to improve energy efficiency is to wrap your water heater in insulating material to reduce heat loss. This small task can deliver savings that will really add up over the course of a year. You can also reduce heat loss by installing small pre-cut insulating pads under the cover plate of wall plugs and switches on the walls around your home’s perimeter. Dimmer switches, and the energy-efficient light bulbs will also reduce energy and save you money too.

Your home ‘tune-up’ should include a check of the fire alarms and carbon monoxide detectors throughout your home. You should be sure that you have a working smoke alarm (and that means testing the batteries at least twice a year). installed on every floor of your house. Also, clean the air filters on your furnace. You should also consider having a furnace inspection to ensure its running safely and performing at top efficiency. Again, your energy savings may even cover the cost of the inspection, and the peace of mind it delivers is priceless.

Want to know more about keeping your home running at optimum levels, and preserving its future resale value? Contact your local Coldwell Banker® sales representative, and let’s talk real estate.


Gary Reed gary@garyreed.org http://www.garyreed.org Coldwell Banker Home & Family Realty Brokerage 1515 Rebecca Street, Unit 21
Oakville, Ontario
Canada
L6L 5G8 1-800-695-7283 905-825-7777 905-825-3593 (Fax)

Canadian real estate market on the upswing

Despite a slow start to the year, the Canadian market has certainly bounced back since the low of last January. Resale housing in particular is again surging forward, and in May reached new heights. According to the Canadian Real Estate Association (CREA), strengthening consumer confidence, low interest rates, and improved affordability are all drawing buyers to the housing market.

In fact, CREA reports that Canada’s resale housing market activity has returned to pre-recession levels. Actual home sales via the Multiple Listing Service® (MLS®) of Canadian real estate boards totaled almost 50,000 units in May 2009.
The national MLS® residential average sale price in May 2009 neared $320,000, and reached the highest monthly level on record. In just four short months, the national MLS® residential average price recovered 16.4% from January’s low.

According to CREA, the supply of new listings coming onto the MLS® continued to decelerate in May, to just over 65,000 units, the lowest level since December 2005. This tightening supply will keep upward pressure on home values.

In the meantime, Canadian consumers are starting to feel positive about the real estate market again. According to statistics compiled by the Conference Board of Canada, national consumer confidence improved for the second consecutive quarter in the second quarter of 2009, and the balance of sentiment about making major purchases, such as a home, continues to improve.

Interestingly, new construction doesn’t reflect the current demand. Canada Mortgage and Housing Corporation (CMHC) reports that new housing starts in 2009 have fallen sharply from the record pace of recent years. The annual rate of new residential construction was 128,400 units in May, a marked decline from over 200,000 housing starts in each of the last seven consecutive years. Housing starts are expected to improve throughout 2009 and over the next several years to gradually become more closely aligned to demographic demand, which is currently estimated at about 175,000 units per year. In the meantime, there will be less inventory for homebuyers to choose from.

So, what’s the bottom line? Increased affordability due to historically low interest rates, government housing stimulus programs and rising consumer confidence have all contributed to the demand for homes. Meanwhile, supply is dwindling, due to a decreasing number of resale homes coming on the market, strong sales activity, and a marked decrease in new home construction. Continued demand and reducing supply will place more upward pressure on Canadian house prices.

Now that you know the highlights of the national picture, want to know more about what’s happening in your own community? Contact your local Coldwell Banker® real estate representative and get the benefit of some expert advice.


Gary Reed gary@garyreed.org http://www.garyreed.org Coldwell Banker Home & Family Realty Brokerage 1515 Rebecca Street, Unit 21
Oakville, Ontario
Canada
L6L 5G8 1-800-695-7283 905-825-7777 905-825-3593 (Fax)

Federal Budget initiatives stimulate housing market

The Federal Budget tabled on January 27, 2009 included initiatives that are targeted to the real estate industry, to support home purchase and renovation. Without question, the Federal Government’s plan to stimulate economic growth through home buying initiatives is good news for all Canadians. Real estate is a main foundation of our national economy, and whether or not you may personally be thinking of buying or selling a home, all of us should be pleased to see real estate directly addressed in the new budget.

The increase in the Home Buyers Plan (HBP) maximum from $20,000 to $25,000 which has now been passed into law will help Canadians who want to buy their first home to do it in a financially responsible way. A proposed new First-Time Home Buyers’ Tax Credit would provide up to $750 in tax relief when purchasing a first home. These incentives combined with increased affordability from lower
mortgage rates and declining prices will drive a new buyer into the market.

A short-term Home Renovation incentive which is proposed to run into 2010 would also give a welcome ‘shot in the arm’ to the housing market. Another proposed initiative, a tax credit of up to $1,350 per house for renovations to either homes or cottages will appeal both to sellers getting their home ready for sale and to buyers who may be considering the purchase of a 'fixer-upper'. The short window for this limited time offer would help to create a sense of urgency that now's the time to buy.

As a counterpoint to the government stimulus plan for buyers, there is also demographic pressure creating pent-up demand on the seller side. A Statistics Canada study noted that the leading edge of the giant baby-boom generation is now on the cusp of retirement - with those born in 1946 turning 62 this year, the current average retirement age of Canadians. These people will be moving to downsize or to accommodate changes in their income or lifestyle. All this spells good news not just for the housing industry, but for Canada’s national economy as a whole.

It’s a great time to buy a home in Canada, and these new federal government initiatives are just the icing on the cake. Why not contact your local Coldwell Banker® sales representative and find out more about buying opportunities and incentive programs to help put the dream of home ownership within your reach.


Gary Reed gary@garyreed.org http://www.garyreed.org Coldwell Banker Home & Family Realty Brokerage 1515 Rebecca Street, Unit 21
Oakville, Ontario
Canada
L6L 5G8 1-800-695-7283 905-825-7777 905-825-3593 (Fax)

Smartphone users can now view Real Estate listings from 28 countries

Canadian home buyers and sellers can now access listings in 28 countries using their mobile phone devices, thanks to the latest innovation from Coldwell Banker®. A new international Coldwell Banker real estate interface includes listings from throughout Canada and the United States, as well as Australia, Mexico, Italy, Aruba and Colombia. Through this exclusive technology, a first for Canada, international property listings are accessible via a customized platform for iPhoneTM and BlackBerry® users.

When viewed on an iPhone, BlackBerry or other smartphone, the Coldwell Banker flagship Web site, www.coldwellbanker.com has a different look and feel, along with navigation specifically tailored for optimal viewing the mobile device. This includes property listings search and home value estimator functions. When a smartphone user accesses the site through his or her handset, the Coldwell Banker Web site automatically recognizes that it is being accessed by a mobile device and will serve up that specialized interface. Users do not need to download any special software to benefit from this enhancement to the Coldwell Banker mobile technology.

Now consumers in the home buying and selling process can easily search both domestically and internationally using their mobile devices. Now, surfing for listings has gone to a whole new level. In addition, smartphone users looking for real estate listings both domestically and internationally will be able to search for homes and utilize the brand’s home value estimator. In addition, consumers will be able to enter specific search criteria such as city, province or state, and price as well as optional filters including number of bedrooms and bathrooms. When a property is selected, users can view all of the specifications for that home and contact a sales representative directly.

It’s just one more way that Coldwell Banker technology blazes new trails to provide global consumers with listings anytime, anywhere. Want to know more about how to promote your listing or search for homes in exciting new ways? Contact your local Coldwell Banker real estate representative. You’ll be glad you called us first.

iPhone is a registered trademark of Apple Computers, Inc.

BlackBerry®, RIM®, Research In Motion®, SureType® and related trademarks, names and logos are the property of Research In Motion Limited and are registered and/or used in the U.S. and countries around the world. Used under license from Research In Motion Limited.

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For downloadable photos to illustrate this story, visit: http://www.flickr.com/photos/30794625@N05/sets/72157612203017008/


Gary Reed gary@garyreed.org http://www.garyreed.org Coldwell Banker Home & Family Realty Brokerage 1515 Rebecca Street, Unit 21
Oakville, Ontario
Canada
L6L 5G8 1-800-695-7283 905-825-7777 905-825-3593 (Fax)

Don’t refuse that low offer - Keep negotiating!

Receiving an offer to purchase is one of the most emotionally charged events in the entire selling process. Sellers should try to bear this in mind, and make a conscious effort to stand back and take an objective view of the situation. Most Coldwell Banker® real estate professionals have seen sellers who let their personal attachment to their home cloud their judgment. Their emotional reaction makes them lose sight of the importance of working with an offer, even if its a low one. Sometimes when an offer comes in that is quite low, homeowners take it as a personal insult. They react so strongly that they just refuse the offer out of hand. If you let this happen to you, then you could be missing out.

Even if it looks like you and the potential buyer are very far apart, the important thing to keep in mind is that a serious buyer has made an offer that has opened negotiations. Your goal is to keep them open until you get the results you want.

When considering an offer, bear in mind that prospective buyers usually don’t expect their first offer to be accepted outright. Don’t let your emotions drive your decision. Look at it as a purely business proposition. There are several positive aspects to receiving an offer, even if it’s not what you hoped for. First of all, you’ve made contact with a serious buyer who’s ready to purchase. Secondly, you know the buyer prefers your property over any other in your price range. Don’t slam the door on this prospect. You can keep negotiations going with a counter-offer (or “sign back”). A sign-back doesn’t mean you have to make major concessions to your desired price or terms. Even if you send the offer back with the same terms as your listing, it gives your sales representative one more opportunity to meet with these interested buyers to promote your property, and counter objections. They can also offer creative financing options that might encourage a better offer.

When coming up with a counter offer, its important to keep in mind that other aspects of an offer have value besides price. Even if you can’t move very far from your list price, you may be able to offer other concessions such as including fixtures (lighting, appliances, draperies) or changing your preferred closing date to accommodate the buyer.

Keeping the lines of communication open gives your sales representative a chance to do their job. Want to know more about effective negotiating strategies? Ask your local Coldwell Banker real estate professional. You’ll be glad you called us first!


Gary Reed gary@garyreed.org http://www.garyreed.org Coldwell Banker Home & Family Realty Brokerage 1515 Rebecca Street, Unit 21
Oakville, Ontario
Canada
L6L 5G8 1-800-695-7283 905-825-7777 905-825-3593 (Fax)

‘Going green’ is a growing trend in real estate

Until recently, the term “greenhouse” meant a building made of glass, where plants are cultivated. But for today’s prospective homebuyer, the terms “green” and “house” can conjure up very different meanings—that of a home that uses sustainable building materials and energy efficient design. And now, according to the Canadian Real Estate Association (CREA), the growing green housing movement is significantly changing how property is marketed and managed.
In a global shift towards ‘eco-friendly’ housing, people are now recognizing that a green building is efficient, and this efficiency has real economic, as well as social and environmental value. No longer is ‘green’ housing just a trendy buzzword. It is quickly becoming a measurable standard throughout the world. For building construction, organizations in the UK, the US and Australia have agreed to cooperate and develop common metrics for measuring CO2 emissions. These leading green building ratings are now available internationally for measuring the environmental sustainability of new and existing homes and buildings.
Here in Canada, the movement towards going green is growing exponentially, especially in British Columbia and the Atlantic provinces, says CREA. Recent findings show that about one out of three BC residents has already taken steps to make their homes more environmentally friendly (Source: BCREA, January 2009).
As you might expect with a newly-emerging field, right now there is little consistency or standardization amongst the various degrees of ‘greenness” within a market. There is already a growing demand for some type of consistency which will make it easier for property developers and building owners to monitor and compare the energy performance of their buildings. But when it comes to individual homeowners—that is not so easy.
Consumers looking to purchase eco-friendly homes have limited options to obtain detailed information on the green aspects of a home, often relying on the information provided by the current homeowner which may or may not be accurate. So, while going green is good for consumers and for our planet, this is another area where homebuyers can benefit from the advice of real estate industry professionals. Whether it’s a professional home inspector or your local Coldwell Banker sales representative, they can point out aspects of a home that will help save you money on your energy costs. And if you plan on selling, talk to your Coldwell Banker professional about how to showcase the ‘green’ features in your home to appeal to today’s eco-conscious consumer.


Gary Reed gary@garyreed.org http://www.garyreed.org Coldwell Banker Home & Family Realty Brokerage 1515 Rebecca Street, Unit 21
Oakville, Ontario
Canada
L6L 5G8 1-800-695-7283 905-825-7777 905-825-3593 (Fax)

How much home can you afford?

One of the most common mistakes that Canadian homebuyers – particularly first time buyers -- make is starting out at the wrong price level. Prospective buyers have a tendency to get ‘hung up’ on the sale price, but the monthly carrying cost is what really counts. These buyers arbitrarily pick a figure – giving their salesperson instructions like, “I don’t want to go above $300,000” – without even knowing what that figure carries for in weekly payments at current interest rates. It’s surprising really, especially considering that a home is typically the largest investment a person will make in their lifetime. Yet, there are still some buyers who don’t even know what their payments will be until after their offer is accepted and their financing is being arranged.
You might also be surprised at how many buyers have allowed their ‘dream home’ to pass by, because they didn’t want to venture a few thousand dollars higher than their own arbitrary price ceiling. If they’d ‘crunched’ the numbers first, they might have learned that they could have carried that home for less than they were currently renting. Or they could have covered the difference for a very minimal amount, perhaps less than one take-out meal each week. The bottom line is to know what weekly payments you can afford, and work out from that point. And during negotiations, to understand how any change in cost translates into ongoing carrying costs.
Even experienced buyers who are selling their current home to buy another frequently get caught up in the same kind of ‘final price’ mindset. If you’re looking to upgrade to a better home, you need to focus on whether you can afford the additional expense of the new property versus your present home. It’s the gap between the two prices, and what it carries for that you should be focusing on, not just the sale price.
Here’s where your Coldwell Banker® professional can help -- estimating the proceeds of your sale, providing advice on keeping carrying costs low and helping you lock in a favourable mortgage rate before you buy.
If you’re not sure what price range you can afford, your Coldwell Banker representative can calculate that for you in advance, based on your available down payment and your income. You’ll know at the outset what your payments will be. We’ll listen to your goals, identify your needs and offer creative financing solutions to help you get where you want to be. Best of all, there’s no cost or obligation for this service. Your Coldwell Banker professional will work with you to help you realize your dream of home ownership – at a price you can afford!


Gary Reed gary@garyreed.org http://www.garyreed.org Coldwell Banker Home & Family Realty Brokerage 1515 Rebecca Street, Unit 21
Oakville, Ontario
Canada
L6L 5G8 1-800-695-7283 905-825-7777 905-825-3593 (Fax)

First time buyers want ‘turnkey’ ready homes, not ‘fixer uppers’

As a home seller, you may be thinking that a ‘fixer-upper’ property would appeal to most first time buyers trying to put their first step on the property ladder. However, according to the results of a recent Coldwell Banker® survey on the preferences of first-time buyers, you’d better think again!

Coldwell Banker recently conducted a survey of real estate brokers and sales professionals across Canada and the U.S. to determine the preferences of first time buyers. The survey findings clearly show that First Time Buyers want a ‘turn key’ property where they can simply move in and start to enjoy living in their new home. These individuals have typically put the majority of their financial power into the down payment. They don’t have large reserves of cash available to start putting more money back into the property on major upgrades and renovations.

In addition, first time buyers are typically just starting out in their career and --especially in the case of single buyers -- have little free time available for house repairs. Bottom line? The less there is to do on your property in the way of repairs or updates, the more appealing it’s going to be to those buyers. In most cases, it’s well worth the investment to do the necessary repairs and finishing before putting your home on the market.

Of course, if you’d like to discuss how any planned repair, upgrade or renovation may affect the potential resale value of your home, your first step should be contacting your local Coldwell Banker® sales representative. They’re just a phone call away and always ready to talk real estate!

Gary Reed gary@garyreed.org http://www.garyreed.org Coldwell Banker Home & Family Realty Brokerage 1515 Rebecca Street, Unit 21
Oakville, Ontario
Canada
L6L 5G8 1-800-695-7283 905-825-7777 905-825-3593 (Fax)

Knowing the first-time buyer

In today’s competitive real estate market, more and more sellers are looking to target the increasingly important consumer group of the first-time buyer. The first step in reaching this target group is in knowing who this customer is, and then understanding their specialized wants and needs.

Just who is the first time buyer in terms of age, income, marital status, house price range? There’s no one right answer to that question, especially these days. First time buyers come from all ages and all walks of life. Also, their demographic profile can vary dramatically from market to market, and even between different communities in the same major market area. However, there are some interesting trends in the first time buyer demographics:
• As home prices rose, it resulted in young people staying at home with their parents longer in order to save the necessary money for a down payment. Not surprisingly then, the age of first time buyers has risen in recent years.
• There’s been a major shift in first time buyers in terms of marital status. Ten years ago, the vast majority were young married couples starting out their life together, with a hope for a growing family. Today, while couples still represent the majority, we’re also seeing a far greater percentage of young professionals, especially single women, entering the home buying market. These career-oriented people no longer want to wait for marriage before taking their first step on the property ladder. They want to build equity and achieve the dream of home ownership without waiting for the right life partner to come along. This group is a major force in low upkeep urban housing that is seen in the condo market.
• Canada enjoys a very strong positive in-migration population, and these individuals will continue to fuel the first time buyer market.

One trend that we’re now starting to see is an increase in the percentage of first time buyers in the market. With the escalating prices in recent years, some of these individuals were previously ‘locked out’ of the housing market. Now with adjusting prices, historically low interest rates, and help from government initiatives such as the recent increase in the Home Buyers Plan withdrawal plan from $20,000 to $25,000, have resulted in some of the most affordable housing seen in most markets in years. This is bringing a new buyer back into the market, as they are now seeing homeownership come back within their reach.

Want to know more about the first-time buyers market, and the special incentives that are now available to attract and win these buyers? Contact your local Coldwell Banker® real estate representative to learn more.

Gary Reed gary@garyreed.org http://www.garyreed.org Coldwell Banker Home & Family Realty Brokerage 1515 Rebecca Street, Unit 21
Oakville, Ontario
Canada
L6L 5G8 1-800-695-7283 905-825-7777 905-825-3593 (Fax)

Open House viewing made easy

Today’s buyers have a lot to choose from these days, with a large inventory of homes listed for sale. Some real estate representatives hold Open Houses in an effort to attract potential buyers to their listings. There’s a lot of information available about Open Houses from the seller’s perspective, but surprisingly few guidelines for the buyers who come to view them. Here are some helpful tips on Open House viewings from the buyer’s side.

• If you plan to visit an Open House, inform your sales representative prior to your visit. You may be surprised to learn that visiting an Open House without your sales representative present may result in conferring certain rights on the salesperson who is showing the property. It all depends on the rules of the real estate board where the property is located and any other agreements that may be in place.
• Ask your sales representative for information about the surrounding neighbourhood. Your Coldwell Banker® sales representative can be a valuable source of information about planned developments in the area and other aspects that may impact a home’s resale value, and may even be familiar with the individual property.
• If you’re planning a tour of several Open Houses, start out with a map. Plot out the addresses where the Open Houses are located and the times of showings to ensure that you make the most productive use of your time. Make sure you identify where schools, amenities and major transportation routes are located. The Coldwell Banker Web site, www.coldwellbanker.ca can help make your planning process easier with helpful location maps. The site even flags properties that are holding Open Houses, so your list is made for you!
• Start your Open House tour with a drive to get a feel for the entire neighbourhood before you devote any time to viewing individual houses.
• When you visit an Open House, be direct and ask questions. You’ve got a lot at stake, so this is no time to be diplomatic. The salesperson showing the home is well aware that it won’t be right for everyone. Being open and direct allows the hosting sales representative to better understand your needs and objections and then offer solutions to meet them.

Do you have any other questions about viewing homes for sale? Or about home prices and affordability in today’s real estate market? Call your local Coldwell Banker® and take advantage of their helpful advice. It’s a great time to buy, so why not make the most of it!

Gary Reed gary@garyreed.org http://www.garyreed.org Coldwell Banker Home & Family Realty Brokerage 1515 Rebecca Street, Unit 21 
Oakville, Ontario
Canada
L6L 5G8 1-800-695-7283 905-825-7777 905-825-3593 (Fax)

Real Estate drives the Canadian economy

It should come as no surprise to most of us that resale housing transactions across Canada generate significant economic activity. The purchase and sale of homes generates fees to professionals such as lawyers, appraisers, real estate agents, surveyors, etc. as well as taxes and fees to government. And when Canadians move to another house, they typically purchase new appliances or furnishings and undertake renovations that tailor their new home to their own specific requirements. This all helps to drive the economy in a big way.

A Canadian Real Estate Association (CREA) study published in June 2007 estimated that during the previous 2-year period, a total of $32,200 in ancillary spending (i.e., spending by purchasers on items other than the actual house and land) was generated by the average housing transaction in Canada. Considering the average of 476,063 home sales processed annually through MLS® during that same period, ancillary spending attributable to moving into another house
totaled over $15.3 billion per year across Canada – a significant contribution to the economy. And the impact would be even greater by today’s standards.

On the international front, there’s more good news for the economy and for housing. A recent G-20 monetary funding proposal and a massive Economic Stimulus plan in the U.S. that has positioned our number one trading partner for an economic recovery are sure to have positive repercussions here. All these initiatives bode well for the future of our Canadian economy overall, and the housing industry in specific.

Of course, the buying and selling of homes drives the economy in other ways far beyond the purchase of an individual home. As home ownership increases and communities grow, there is a corresponding growth of retail outlets, schools, recreational and entertainment facilities, places of worship and infrastructure. As our population matures, you’ll see the development or assisted living and mature lifestyle communities to meet the needs of this increasingly important group of homebuyers and sellers. There are few industries in this country that can exert such a profound impact on the economy.

Today, historically low interest rates and lowering prices in some markets have resulted in some of the most affordable housing seen in Canada in many years. So why not take advantage of this window of opportunity to grow your personal equity and help drive the economy while you’re at it? Contact your local Coldwell Banker® sales representative to find out more about the great opportunities offered by today’s market – and how to tap into them!

Gary Reed gary@garyreed.org http://www.garyreed.org Coldwell Banker Home & Family Realty Brokerage 1515 Rebecca Street, Unit 21 
Oakville, Ontario
Canada

L6L 5G8 1-800-695-7283 905-825-7777 905-825-3593 (Fax)

Ten ways to attract Buyer interest

In today’s highly competitive real estate market, the key to selling your home is being able to attract buyers to your listing. When you’re selling your home, it’s important to remember that you’re in competition with every other similarly priced listing in your area. To win buyers, you need your home to stand out from all the rest. Here’s a Top Ten list of things a seller can do to win buyer interest:

1. Create ‘curb appeal’ -- Buyers decide whether they like a property within the first few minutes of arrival. Make a great first impression with well trimmed and cared for lawns and walkways. A small investment in new lighting at your front door, an urn planter, a new mailbox or street numbers can all upgrade the look of your home and win big dividends.
2. Give them a warm welcome - Make the most of those first few critical minutes as buyers enter your home. A foyer or entranceway is typically one of the smallest areas of your house, so upgrading the flooring with hardwood or slate can be a very worthwhile and cost-effective investment. Add a mirror to visually increase the space and clear out shoes and mats.
3. Let there be light – Create a bright and cheerful atmosphere by opening the blinds and curtains and turn on all the lights for showings. If you have a fireplace, have a fire burning if the weather’s not too warm.
4. Show you care – Properties that aren’t well maintained send up ‘red flags’ to buyers that larger problems may be lurking beneath the surface. Complete all those minor repairs jobs that you’ve been putting off.
5. Create space – Buyers want a spacious interior, so do everything you can to create space, even if it means moving several items offsite while you’re showing. Send those extra chairs to Mom’s for now or rent a storage unit.
6. Depersonalize – You need buyers to picture themselves living in the house, so pack everything that’s distinctly yours, including photos, awards, mementos and religious artifacts. It’s your first step towards moving out.
7. Appeal to all the senses – Some of the strongest emotional reactions are created by smell, not sight or sound. Before showings, open windows to air out rooms, light scented candles, and put out a bowl of fresh lemons.
8. Upgrade for maximum impact and return – Kitchens and bathrooms are the most important rooms when selling a house, so they’re the areas where upgrades will likely get the best return on your investment. Even simple changes like new faucets or a lighting fixture can have big impact.
9. Present a neutral interior – A fresh coat of paint is always a good idea. Choose pale, neutral colors that won’t clash with a buyer’s furnishings.
10. Let the professionals do their job – As your Coldwell Banker® real estate professional will tell you, one of the best ways you can help get your house sold is to leave home when showings are underway. Buyers will be more inclined to linger and ask questions, and it gives your sales representative a chance to counter objections and offer solutions.

Call your Coldwell Banker professional to learn how to turn interest into offers!
Gary Reed gary@garyreed.org http://www.garyreed.org Coldwell Banker Home & Family Realty Brokerage 1515 Rebecca Street, Unit 21 
Oakville, Ontario
Canada

L6L 5G8 1-800-695-7283 905-825-7777 905-825-3593 (Fax)

The 72 hour rule

The prospect of becoming stranded in your home for a period of time with limited resources is an all-too-real scenario. Are you ready for such a possibility? The Canadian government warns that every Canadian homeowner should equip their residence with sufficient supplies to last every member of your household for a period of 72 hours without power or tap water.
Here’s a list of the provisions you’re recommended to have at the ready in an easy to find, easy to carry, pre-packaged emergency kit:
• Water – at least two litres of water per person per day. Include small bottles that can be carried easily in case of an evacuation order
• Food that won’t spoil, such as canned food, energy bars and dried foods (remember to replace the food and water once a year)
• Manual can-opener
• Flashlight and batteries
• Candles and matches or lighter (remember to place candles in sturdy containers and to put them out before going to sleep)
• Battery-powered or wind-up radio (and extra batteries)
• First aid kit
• Special items such as prescription medications, infant formula and equipment for people with disabilities
• Extra keys for your car and house
• Some cash in smaller bills, such as $10 bills and change for payphones
• A copy of your emergency plan and contact information
Want more information about how to prepare your home and your family for a possible emergency? Visit http://www.getprepared.ca/kit/basic_e.asp
Promoting safe homes and safe neighbourhoods is just one of the many ways that local Coldwell Banker® companies and their sales professionals put something back into the communities where they do business. With a little planning, your Home Sweet Home can also be a Home Safe Home!

Gary Reed gary@garyreed.org http://www.garyreed.org Coldwell Banker Home & Family Realty Brokerage 1515 Rebecca Street, Unit 21 
Oakville, Ontario
Canada
L6L 5G8
1-800-695-7283 905-825-7777 905-825-3593 (Fax)

Why it’s smart time to buy

As your local Coldwell Banker® real estate professional can tell you, there’s a lot that’s good about today’s housing market. And it’s all because of the three cornerstones known in the industry as I.I.P. – Inventory, Interest rates and Price.

In most markets across Canada, these three fundamentals are creating some of the most affordable housing seen in many years. The inventory of listings is strong, giving buyers a lot to choose from. That increases the likelihood of finding the home that’s just right for you and your family. The Bank of Canada reduced interest rates again in March, and mortgage rates are now sitting at near historic lows. At the same time, home prices have adjusted to more affordable levels in most major markets across Canada.

Those three fundamentals of I.I.P. are having an impact in almost every local market. Without question, there will be many great opportunities that are ready and waiting for a savvy home buyer to take advantage of right now. In February, CREA reported an 8.6% increase in transactions over the previous month, the first monthly increase in national sales activity since September 2008. February activity also surpassed levels reported in November and December of 2008. This is a clear indication that buyers are seeing value and are coming back into the market.

Consumers need to focus on these strong fundamentals and gain confidence in housing. Some buyers still think they can time the market and are ‘sitting on the fence’ waiting for exactly the right time. This can be a costly mistake. While you’re sitting back with a ‘wait and see’ approach, the right house at the right price and the right terms may be snapped up by another buyer who recognizes the opportunity. Reading isolated news headlines is not a great way to gain balanced information about the housing market. Such news stories often focus on very short-term events. They don’t tell the ‘big picture’ of how the vast majority of Canadian homeowners have achieved solid appreciation in value within just the last few years. To make an informed decision, you need to know a great deal more information that’s specific to your target neighbourhood. Your local Coldwell Banker sales representative can tell you the whole story about your community, including such issues as historical appreciation in value, current inventory of listings, future development plans and time on market.

Why not talk to your local Coldwell Banker real estate professional, and get a balanced perspective on some of the opportunities in today’s market. You have nothing to lose, and it just may be the most important call you’ll ever make!

Gary Reed gary@garyreed.org http://www.garyreed.org Coldwell Banker Home & Family Realty Brokerage 1515 Rebecca Street, Unit 21 
Oakville, Ontario
Canada

L6L 5G8 1-800-695-7283 905-825-7777 905-825-3593 (Fax)