Homebuying activity is strong

 

Homebuying activity strong out of the gate, as a more competitive market takes shape for spring 2012, says RE/MAX

Mississauga, ON (March 22, 2012) - Major Canadian real estate markets continued to show exceptional resiliency throughout the first quarter of the year, with strong demand and diminished supply setting the stage for a heated spring 2012, according to a report released by RE/MAX.

The RE/MAX Market Trends Report, highlighting sales, price, trends and developments in 15 markets across the country, found that 12 of 15 Canadian centres (80 per cent) were reporting year-to-date (January-February) sales activity ahead of last year's levels, with more than half reporting double-digit increases. Low interest rates, coupled with strong consumer confidence levels and a mild winter, played a significant role in the upswing, ushering in an early start to the spring market. Average price climbed in 14 of 15 markets (93 per cent) examined, yet appreciation was more tempered, with only three markets posting gains in excess of 10 per cent. Tighter inventory levels at entry-level price points have sparked bidding wars-particularly in Winnipeg and the Greater Toronto Area-with similar conditions starting to emerge in Saskatoon, Regina, London-St. Thomas, Hamilton-Burlington, Ottawa, St. John's, and Halifax-Dartmouth.

Posted via email from Selling Cambridge with Clare DeJong

March Newsletter

 

Your Real Estate News Clare DeJong Sales Representative Real Estate Centre Inc., Brokerage 766 Old Hespeler Rd. Cambridge, Ontario 519-623-6200 or 1-866-623-6205 www.SellingCambridge.ca

Hi Clare, Most buyers drive by a home before deciding whether or not it’s worth seeing inside. First impressions are critical so this month we offer some tips on how to enhance your home's curb appeal. We also discuss how you can clean your home naturally with lemon juice as well as the dangers of radon and how it can affect your family's health. Thanks so much for checking out this month's newsletter. Please let us know if you have any questions or comments regarding the articles or real estate in general -- it'd be great to hear from you! Life is good, Clare In This Issue... Above Average February for Cambridge Home Sales Cashing In on Curb Appeal The Power of Lemon Aid The Lowdown on Radon Above Average February for Cambridge Home Sales Residential sales activity recorded through the MLS® System of the Cambridge Association of REALTORS® Inc. posted a solid gain year-over-year increase in February 2012 to a year earlier. According to the Association’s statistics, home sales numbered 219 units in February. This was up 10% from levels reported in the same month a year earlier. “February was another strong month for resale housing demand in the region, with sales again coming in above the five year average,” said Karen Monteiro, President of the Cambridge Association of REALTORS® Inc. “At the same time the number of listings on the market has trended downward in recent months, and that’s been keeping price growth in positive territory.” The average price for homes sold in February 2012 was $287,293, up 3% compared to February 2011. The dollar value of all home sales in February 2012 was $62.9 million, a 13% increase from the previous February. New listings were down from levels in February 2011, falling 7% to 414 in February 2012. There were 704 active residential listings on the Association’s MLS® System at the end of February, down 11% from levels reported at the same time in 2011. There were 3.5 months of inventory at the end of February on a seasonally adjusted basis, down slightly from 3.6 months at the end of January. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity. Sales of all types of properties numbered 225 units in February, a 9% year-over-year increase. The dollar value of all sales in February 2012 totalled $65.2 million, up 13% from levels reported in February 2011. Cashing In on Curb Appeal The key to getting top dollar for your home is to create huge demand with a massive supply of buyers. In order to get as many people through the door as possible, your home has to stand out from the competition. There's no need to completely overhaul your home's exterior as it's often the little details that increase the visual appeal of a property. Here are some ideas that will dramatically improve your home's curb appeal: Perfect Porch - Wind chimes and a few comfortable chairs set a tranquil tone and solar lights will highlight your home and add a welcoming glow. Peeling Paint - You want buyers to see that your home is well cared for so paint or power wash the exterior and clean all of the windows. Accessorize - Replace outdated fixtures such as your mailbox, door handle and porch light and make sure your house numbers are attractive and visible from the street. Landscaping - Cut the grass and trim hedges and trees. Well kept flower beds show pride of ownership and a few large pots full of bright flowers will accentuate the entranceway. De-clutter - An uncluttered exterior is as important as an uncluttered interior so put away tools, toys, bikes and gardening equipment. Watch Your Back - When buyers drive by your home, they’ll usually try and get a glimpse of the backyard so make sure it also gets top notch treatment! Just as people judge a book by its cover, buyers make assumptions about the interior of your home based on how the outside looks. It's therefore important to make a great first impression beginning at the curb. Your efforts will significantly increase the chances of your home selling quickly and for top dollar! The Power of Lemon Aid If you're searching for a powerful, environmentally friendly cleaner that can tackle virtually any household chore, look no further than the lowly lemon. Here are just a few ways that lemons can make your home sparkle: To remove carpet stains, soak with lemon juice for 15 to 30 minutes then rinse and blot. If your countertops are stained, just leave lemon juice on the stains until they’re gone. To clean copper, dip half a lemon in salt and rub it over the copper surface, rinse and dry. Mix lemon juice with baking soda to easily clean kitchen and bathroom surfaces. To clean the microwave, heat a bowl of water and sliced lemons in the microwave for a few minutes before wiping down with a cloth. Lemons are an excellent alternative to toxic cleansers plus they'll fill your home with a refreshing citrus scent! A great tip for squeezing as much juice as possible from your lemons is to microwave them for 30 seconds, wait a minute, then cut and squeeze. The Lowdown on Radon Radon is an invisible radioactive gas that occurs naturally in the environment from the breakdown of uranium in soil and rocks. It doesn't present a concern when released outdoors but when radon becomes trapped inside a house, it can be very harmful to your health as it increases the risk of lung cancer. Radon can seep into your home through gaps in floors, walls and foundations and the only way to know if you have high radon levels is to test for it. You can purchase various inexpensive testing kits or call in a professional. Radon concentrations vary from home to home so don't take any chances -- protect your family by testing your home for radon today.

Are you sick of scouring the paper and MLS sites looking for homes? Tired of playing telephone tag with agents only to hear the home's already sold? Sit back, relax and let me do the work for you! Just visit my website and check off the features you're looking for. Whenever a home matching your criteria hits the market, it'll be automatically flagged and emailed to you so you'll never have to worry about missing your dream home. This service is free and there's no obligation! Click here to get started.

Posted via email from Selling Cambridge with Clare DeJong

Digital is not so messy

 

ʎssǝɯ os ʇou sı lɐʇıƃıp

 

The real world is messy. Signs hang at funny angles (or upside down). There's dirt in the corner. Cables are in disarray.

In the digital world, when something is out of place, we notice it.

It's a mistake to believe that messiness is always a bad thing. The organic feng shui of the real world gives us comfort, it makes things feel real or special or treasured.

Over time, our digital footprints add up and create a cyber world that starts to take on some of that very same messiness. Change a font or a layout or where something is, and it bothers us.

You can take advantage of that need for comfort by making your digital work a little less sterile, a bit less squared off.

 

via Seth Godin

Posted via email from Selling Cambridge with Clare DeJong

First-time home buyer aid for newbies

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Real estate help for newbies

Once upon a time, I was shoe shopping at a local mall, when a pair of running shoes grabbed my attention. I was smitten, so I grabbed the shoes and went to the register. A few weeks later, I passed the very same shoe store, in my new shoes, and was dismayed to see the shoes at 50% off. I was crushed – I paid an extra 50% for the same shoes.

Does this situation sound familiar? Sadly, this is a common occurrence in malls across Canada. This can also occur on a grander scale when you buy a home for the first time. Breaking into the real estate market as a first-time home buyer requires a big learning curve, which is why it is important to learn about all the possible programs designed to help you and reduce the financial burden.

The First-time Home Buyer Tax Credit (HBTC)

This tax credit is probably the most straightforward, yet least known of all the first-time home buyer rebates. It is a non-refundable $750 tax credit that must be claimed on your personal income tax. If you are purchase your home with a partner or spouse, both of you can claim the HBTC, however, the total of your combined tax credit cannot exceed $750.

The RRSP Home Buyers’ Plan (HBP)

This is probably the most well-known first-time home buyer freebie. The Government of Canada allows you to withdraw money from your RRSPs completely tax-free. You may borrow up to a maximum of $25,000 and if you’re buying with a partner or spouse, each of you may withdraw $25,000 for a total of $50,000. Since you are taking money from your RRSP, it does need to be re-paid in full after 15 years.

Land Transfer Tax Rebates

Each province in Canada levies a type of land transfer tax when you engage in property, land, or housing transactions. The tax rate is different in each province, which is why it is helpful to use a land transfer tax calculator. Not all provinces have land transfer taxes; some require small title fees such as Alberta while others are incredibly complex such as Manitoba.

If you plan on buying in the city of Toronto, be prepared for an additional land transfer tax at the municipal level, however, it will likely be abolished by 2015. There are four governments that charge land transfer tax AND provide rebates for first-time home buyers. They are the provinces of Ontario, British Columbia, Prince Edward Island and the City of Toronto, so make sure to use a calculator to verify which rebates you are entitle to.

Take Advantage

As a newbie home buyer, you should take advantage of the numerous freebies made available to you. Paying a few extra dollars on a pair of running shoes isn’t as bad as paying a few thousand extra dollars on a house.

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About the Contributor

This article was provided by RateHub.ca, an independent, impartial mortgage rate comparison platform. We bring the most competitive mortgage rates to one place, so you can make informed and efficient decisions. We believe that finding the best mortgage rate should be straight-forward, and our website has been designed with that in mind. RateHub works with the top mortgage brokers and lenders in Canada to bring you the most competitive mortgage rates. We update our rates on a daily basis with accurate, real-time data. We also provide ongoing mortgage education and resources to assist you in your selection process.

Posted via email from Selling Cambridge with Clare DeJong

Bank of Montreal offering 2.99 per cent five-year mortgage rate once again

 

 

TORONTO – The Bank of Montreal is again offering its ultra-low 2.99 per cent mortgage rate less than two months after a similar promotion set off a race to the bottom with some of its biggest competitors.

The bank is lowering the rate of its five-year mortgage by 50 basis points starting Thursday.

It’s also introducing a new 10-year mortgage, which comes with an introductory fixed rate of 3.99 per cent and a maximum 25-year amortization. That rate will be available starting Sunday.

Both deals are available until March 28.

BMO has been urging customers to pick mortgages with shorter amortization periods, said Frank Techar, CEO of BMO’s Canadian personal and commercial banking division.

“At BMO, we believe the housing market is poised for a soft landing. Canadians can help ensure this outcome by choosing a shorter amortization and not over extending themselves, which we believe will have a moderating influence on housing prices,” he said in a release.

When BMO began offering the 2.99 per cent rate for a two-week period back in January, TD Bank and Royal Bank promptly answered with their own deals.

TD Bank promoted a four-year special fixed rate at 2.99 per cent.

Royal Bank later matched that with its own four-year 2.99 per cent rate offer, along with a seven-year special fixed rate of 3.99 per cent.

Both were available until the end of February, with amortization periods of up to 30 years.

Posted via email from Selling Cambridge with Clare DeJong

Happy International Women's Day ((TAG: women, international women's day)

To all the women out there...enjoy YOUR day!!

 

Posted via email from Selling Cambridge with Clare DeJong

Market Watch: Price correction unlikely: report

 

 

House prices are expected to continuing going up across the country despite some high-profile reports to the contrary, a new survey reports. The Royal LePage House Price Survey and Market Survey Forecast predicts a continuation of price growth, with the average increase at 2.8 per cent by year’s end. The average price of a home in Canada increased between 3.6 and 6.1 per cent in the recent fourth quarter. For the full report, visit www.royallepage.ca and click on Q4 2011 House Price Survey and Forecast in the rolling menu on the home page.

Posted via email from Selling Cambridge with Clare DeJong

5 FACTORS TO WEIGH BEFORE RENTING YOUR HOME

 

Q: I have a house that I don't want to sell right now, but I would like to move and am thinking of renting the house. I hear terrible stories about renters, in which they destroy the property and don't pay the rent. What have you heard? Are there any experiences that can be shared?

A: Interestingly enough, I've actually had exactly this thought process myself! My father was (and is) an avid real estate investor, and as a child I frequently accompanied him on trips to check on his investment properties. Boy oh boy, the things I saw! Broken windows he felt responsible to replace, filthy flooring, the list goes on.

Recently, I've thought about renting out my own home for a short period of time, and decided against it, for the time being, due to some of the same concerns. A friend reported that her mother recently had to spend $10,000 to refurbish a home she'd leased out while she was thinking about whether to sell it, due to tenant damage.

For the time being, I've decided not to lease my home out. But I took my own friends' and clients' experiences and talked with my dear (not-so) old dad and put together this list of five suggestions to helping you make the decision about whether to rent yours, and how to minimize the tenant issues you fear, if you do.

 

1. What's the current state of your state? Ultimately, the reason I decided against doing a short-term rental of my own home is that I'd just spent six figures completely renovating it, and couldn't afford to have someone trash it for the upside of a short-term lease. And none of the stuff in my home is really tenant-proofed (see No. 2, below), so I also had to take that into consideration.

If you feel like the property has pricey upgrades that would be relatively destruction-prone, factor that into your decision-making, and into the deposit and monthly rent price you set if you do decide to rent it out. If the paint and flooring is livable, but you'd want to upgrade it before you sell, renting it out in its current condition might make sense.

2. Research your local rental market. Talk to local property management companies or real estate brokers who specialize in rentals to get several estimates of how rentable the place is (or what it would take to make it rentable), and what rent you can realistically expect to receive.

Then, before you make a decision, do a conservative cash flow analysis, getting clear on what you think you could rent the place out for and how that maps against your existing monthly obligations, like your mortgage payment (if any), property taxes and insurance, as well as any increased expenses you'll have for maintenance or property management.

And while you're at it, talk with these same local professionals or visit your local landlords association and request a briefing on whether there are any rent- or eviction-control ordinances that would apply to your property.

It can be extremely expensive to evict even nonpaying tenants in areas with tight eviction-control laws; that should definitely be a factor you toss on the scales as you balance the factors relevant to your decision.

3. Tenant-proof the place. My dad's experience has been that there are certain property features that make a place less prone to being completely annihilated by tenants. Replace carpet with tile, trade out fancy lighting fixtures and window coverings with standard issue equivalents, and if you have high-end appliances, consider switching them out for Craigslist buys.

Keep in mind that if the property is a luxury home, and you plan to charge a premium rent for it, you might need to keep higher-end touches in it, even if that means putting them at risk.

4. Pick your tenant carefully. It's tough to rent any property you own out to tenants, but it's especially tough when that place is or once was your personal home. You might be especially anxious that they will destroy things that have particular personal value to you, and it's tough to know from someone's credit report how they will actually live in your home.

Be mindful of this when you consider decisions like how to find a tenant (i.e., by posting a free ad or by hiring a property manager with a tough screening process for prospective tenants) and whether to allow pets.

In fact, the landlords I know who have had the best experiences renting out their homes include people who found their tenants through their own personal on- and offline social networks.

These anecdotes support the idea that there's something about the unwritten social contract involved in renting to a friend or a friend of a friend that boosts your chances of a successful landlording experience.

5. Consider "rent to own." Lease-options can be a great deal for all sides in the current market climate. You might be able to charge a premium sales price, and a renter who might not qualify for a mortgage right now because of a recent short sale or foreclosure might be able to move his or her family back into a long-term home.

Also, even those lease-option tenant/buyers who end up not exercising their option to buy do tend to take better care of their homes than tenants who have no long-term interest in or commitment to the home.

While I can't give you a concrete answer regarding whether to rent out your home, you should be able to use these steps and strategies to scope out the opportunity and how feasible and sensible it is for you.

Tara-Nicholle Nelson is author of "The Savvy Woman's Homebuying Handbook" and "Trillion Dollar Women: Use Your Power to Make Buying and Remodeling Decisions." Tara is also the Consumer Ambassador and Educator for real estate listings search site Trulia.com. Ask her a real estate question online or visit her website, www.rethinkrealestate.com.

Posted via email from Selling Cambridge with Clare DeJong

Sight reading

 

We often test sight reading skills, particularly in job interviews. In that highly-charged encounter, we test the applicant's ability to think on her feet. That's a great idea if the job involves a lot of feet thinking, but otherwise, you're inspecting for the wrong thing, aren't you? Same with a first date. Marketing yourself to a new person often involves being charismatic, clever and quick--but most jobs and most relationships are about being consistent, persistent and brave, no?

 

via Seth Godin

Posted via email from Selling Cambridge with Clare DeJong

"It's not prime enough"

 "That number is too even... can you make the next one even odder?"

The thing about math is that it's right or wrong, on or off, yes or no. Seven is a prime number, there's no improving it.

The thing about life/business/culture and the things we make and do is that they are not math.

 

via Seth Godin

 

Posted via email from Selling Cambridge with Clare DeJong