smart real estate Archives - macdonald realty

How is winning at the stock market like selling your house?

What’s a great way to make some cash without exerting a ton of energy? The stock market of course! Where else can you pick a lucky fund, invest some hard earned cash and come out with a big return? Now, you could choose to do it yourself, that would be a cheap way of getting it done yet you may worry some of the fact that you don’t know too much about the idea. It would be silly to invest a bunch of money on a hunch or a ‘stock tip’ from a friend who knows less about it than you do. What are your options then? Hire a stock broker.

Stock brokers are required to go through educational requirements in order to serve you and your money, such as a completed Canadian Securities Course,  and thank goodness too, because you want to make sure you are in the best hands. When picking a stock broker, how do you know who is the best? To pick do you

A) Go with the trader who offers you the best rate on your trading, the professional that offers you the biggest discount saving you money per trade?

Or

B) Go with the trader that has a track record of making their clients significant gains and produces extraordinary results?

The answer is B. The answer should always be B.

The same goes for real estate. We are in an extraordinary time where we have begun to see competitive convergence in our market place, where we have so many Real Estate professionals competing over price to help sell your home. This is such a great opportunity to help the industry get better because it lets those who shine be brightest of them all. When choosing to sell your home, are you worried about who will give you the best discount, or who will sell your home and net you the most amount of money? Like a stock broker, real estate professionals are not all created the same and I caution you, to pick based on track record and results, not discount. Because doing the latter would be considered silly, wouldn’t it?

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Blog post provided by Darin Germyn Personal Real Estate Corporation, a REALTOR® with Macdonald Realty in South Surrey / White Rock.   Visit Darin’s blog at Germyn.ca 

 

 

Dealing with Low Ball Offers on Homes

Real estate listing inventories in Greater Victoria have been relatively high in the past few months, so it comes as no great surprise to us that we are seeing more “Low Ball” offers in the market of late.

That being said, sales activity remains steady, albeit at a lower level than the frenetic pace set last year in the wake of low interest rates and an unwinding of demand left over from the financial crisis of late 2008 & early 2009.

When faced with more homes to choose from than usual in the current market, some buyers are starting to write very low offers in the hopes of “getting a deal”.  I used quotes there because in real estate, a “deal” means different things to different people; no two houses or lots are alike.

Resist the urge to walk away

Most people realize that real estate transactions usually involve a mix of logic, emotion and pride, on both sides of the transaction.  Those realizations usually fly right out the window for both the buyer (when writing the offer) and for the seller (when receiving the offer), even when the purchase price is not in “low ball” territory.

Your REALTOR® is there to help you not only with the legal, logistical and negotiating aspects of selling your home, but to also be a sounding board, an ally and your advisor for those times when emotions are running high!

If you receive a low offer on your home, do your best to limit your emotions & pride and do your best to focus on the facts.

It may help to keep in mind that even a low purchase price offer means that the buyer wants to buy your home.  Many buyers may prepare a really low offer because they are afraid they will pay too much, because they are trying to get an indication of where your expectations are, or simply because they think a low ball offer is normal business practice.

Unless the offer is ludicrously low, prepare to counter the offer to keep the buyer engaged and interested in your home, because, as mentioned, they have more than a passing interest in your house.

In the absence of multiple offers for your listing, consider countering a low ball offer with the price, conditions, closing dates and other details that you’re willing to accept.  If you choose to just ignore a low ball, you won’t ever know if there was a possibility of a low offer turning into a negotiated sale that leaves both parties happy!

Consider the comparable sales

Some buyers will provide a list of recent sales with their offer to attempt to justify a low offer price.  Your REALTOR® will be able to help you decide if those comparables are similar to your home, or not. If the sales in that list do represent similar homes to yours and are at lower prices, you may need to lower your price if you truly want to sell your home.

In the absence of a list of comparables from the buyer, your REALTOR® can also help you prepare a list of comparable sales to send back along with your counter offer that support your asking price.

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Blog post provided by Sean Farrell, a REALTOR® with Macdonald Realty in Victoria.  Visit his website farrellgroup.ca for more information. 

Bright ideas to get your home show ready to sell

Is your home show ready? Before you list your home for sale, here are a few tips to get you started:

1. Remove clutter and clear off counters.
Throw out stacks of newspapers and magazines and stow away most of your small, personal decorative items. Put excess furniture in storage, remove out of season clothing items that are cramping closet space. Get rid of family pictures, trophies and knickknacks. Make sure to clean out the garage too.

2. Wash your windows and screens.
This will help get more light into the interior of the home as well as looks better.

3. Keep everything extra clean.
A clean house will make a strong first impression and send a message to buyers that the home has been well cared for. Wash fingerprints from light switch plates, mop and wax floors, clean the stove and fridge. Polish your doorknobs (inside and out) and address numbers.

4. Get rid of smells.
Clean carpeting and drapes to eliminate cooking odours, smoke and pet smells. Open the windows to air out the house. Scented candles will help.

5. Brighten your rooms.
Put higher wattage bulbs in light fixtures to brighten up rooms and basements. Replace any burned out bulbs in closets etc. Clean the walls, or paint them with a fresh neutral colour.

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Blog post provided by Greg & Liz Holmes, a REALTOR® Team with Macdonald Realty in South Surrey / White Rock.   Visit The Holmes Team blog at holmesteam.ca