As a seller you must be properly informed about the area market prices. Just because your neighbor got $$$ (which is the biggest cause for overpricing in my opinion) does not mean your house holds the same value. It could be worth more!
The second biggest cause for overpricing is "my family told me what it's worth". That's a shame because you are being given the wrong advice from non-experienced people . I had one the other day say, "my daughter told me....." Their advice was $100,000 over price compared to what has sold in the area within the past year, and they were using comparisons that were totally different/new/much superior features. It hasn't listed yet, but if it does at that price, then the person listing it did not investigate.
As a registered real estate representative, I am trained and experienced in pricing a home correctly. When you don't listen to what an experienced person tells you, you run the risk of over marketing (on the market too long) the home which creates a stigma thus significantly lowering the bottom dollar that you may end up getting.
For example if I told you that your house should list at 239,000 and you decide to list it at $249,000 because you fell into the "249" trap (someone told you that is what it is worth) the chances of a good and fast sale become marginal. If you list at the "market" price, it should sell if it shows well. The biggest reason homes sit for a long time is price. It doesn't matter if it needs a roof, if it's priced to high, it won't sell. If it's priced with the common sense that it does need a roof a potential buyer might agree. If the basement leaks, or it needs new windows, remember to price it accordingly.
Here is another tip....if you are getting more than one valuation on your home, don't tell any of the representatives that you are getting more than one opinion. This way you can be assured of consistent facts/figures.
The third biggest reason a home sits for a long time is marketing. Just a sign will not normally sell your home.(unless you are one of the lucky ones that gets that once in awhile driveby sale) There needs to be a combination of newsprint, open houses, and thorough marketing to get the job done.
"REAL" virtual tours help. Virtual meaning the feeling that you are there. Most tours just provide strategic pictures that spin around the room. My virtual tours are actual video taken of the home with narration of each room and it's features. Those are uploaded to my many websites and social media such as Youtube and House Hunting networks, which capture much more audience than a simple sign and ad in the local paper. If you have a nice cottage to sell, how is an ad in the local paper going to sell it....you need to reach an audience of people that come from areas to cottage here such as the Tri-city area, or Toronto.
When you are ready to list, give Jason Steele a call, you will be glad you did! Have a look at the testimonials on my website, you will see what my clients really think!
http://www.jasonsteele.ca/
Friday, August 28, 2009
Friday, August 21, 2009
Cottage in the Port Elgin area
From Friday's Globe and Mail Last updated on Thursday, Aug. 20, 2009 02:32PM EDT
When Toronto lawyer Doug Harrison tells his friends and colleagues he's headed to his cottage in Port Elgin, Ont., for the weekend, he's often asked, “Huh? Where's that?”
The beach town on Lake Huron in western Ontario is unfamiliar to many Torontonians, who are more aware of Muskoka, the Kawarthas or Prince Edward County as cottage destinations. “It's not on the radar,” says Mr. Harrison. “It's amazing how many Torontonians don't know about it.”
But the days of obscurity for Port Elgin and the neighbouring community of Southampton might not last much longer. “We're starting to notice more people from Toronto coming to the region,” local real-estate agent Brad Angel says. “The Kawarthas and places like that have become quite expensive, and people are looking for alternatives.”
Prices are lower along Lake Huron, although it's no bargain basement. Lakefront properties start at about $450,000, largely because there is such a tight supply. The area has always been popular with families from London, Guelph and Hamilton, and there's little ownership turnover. Cottages are often handed down through the generations.
If the lure of lower prices isn't enough of a draw, the natural beauty is. Wide, sandy beaches interspersed with rugged outcrops, as well as the vast expanse of Lake Huron, are compelling. “You just cannot get better sunsets than on the Lake Huron shore,” says Mr. Angel, the broker of record for Coldwell Banker-The Property Shoppe.
Mr. Harrison's reasons for venturing three hours west of his Toronto home and office are more personal. He grew up in Hamilton, and his wife, Margaret Grottenthaler, is from Guelph.
They spent summers in their youth in and around Southampton, and rented cottages in the area as adults before buying their own land in 2003 and building a modernist beach house. “I think most people gravitate, when they get a cottage, to the area they experienced as children,” Ms. Grottenthaler notes.
Port Elgin and Southampton are about a half-hour north of Kincardine, and an hour southwest of Owen Sound. Port Elgin, whose population includes blue-collar workers, white-collar types from the Bruce nuclear plant, and increasingly affluent cottagers, has a main street that's seen several new establishments open over the past couple of years, including a deli, a pair of yuppie-friendly coffee shops, an English pub and a swank Italian restaurant. Southampton has long had enough upscale shops and services to satisfy city folk.
Still, the area is relatively isolated, and Mr. Harrison and Ms. Grottenthaler hope that never changes. They prefer the slow pace and lack of modern trappings. “In Muskoka, you have to be much more industrious,” Ms. Grottenthaler says. “You have to boat, you have to swim, you have to fix the dock. Here, you don't have to do anything. You just have to get out your lawn chairs and read a book.” For many harried Torontonians, that might be the biggest lure of them all.
When Toronto lawyer Doug Harrison tells his friends and colleagues he's headed to his cottage in Port Elgin, Ont., for the weekend, he's often asked, “Huh? Where's that?”
The beach town on Lake Huron in western Ontario is unfamiliar to many Torontonians, who are more aware of Muskoka, the Kawarthas or Prince Edward County as cottage destinations. “It's not on the radar,” says Mr. Harrison. “It's amazing how many Torontonians don't know about it.”
But the days of obscurity for Port Elgin and the neighbouring community of Southampton might not last much longer. “We're starting to notice more people from Toronto coming to the region,” local real-estate agent Brad Angel says. “The Kawarthas and places like that have become quite expensive, and people are looking for alternatives.”
Prices are lower along Lake Huron, although it's no bargain basement. Lakefront properties start at about $450,000, largely because there is such a tight supply. The area has always been popular with families from London, Guelph and Hamilton, and there's little ownership turnover. Cottages are often handed down through the generations.
If the lure of lower prices isn't enough of a draw, the natural beauty is. Wide, sandy beaches interspersed with rugged outcrops, as well as the vast expanse of Lake Huron, are compelling. “You just cannot get better sunsets than on the Lake Huron shore,” says Mr. Angel, the broker of record for Coldwell Banker-The Property Shoppe.
Mr. Harrison's reasons for venturing three hours west of his Toronto home and office are more personal. He grew up in Hamilton, and his wife, Margaret Grottenthaler, is from Guelph.
They spent summers in their youth in and around Southampton, and rented cottages in the area as adults before buying their own land in 2003 and building a modernist beach house. “I think most people gravitate, when they get a cottage, to the area they experienced as children,” Ms. Grottenthaler notes.
Port Elgin and Southampton are about a half-hour north of Kincardine, and an hour southwest of Owen Sound. Port Elgin, whose population includes blue-collar workers, white-collar types from the Bruce nuclear plant, and increasingly affluent cottagers, has a main street that's seen several new establishments open over the past couple of years, including a deli, a pair of yuppie-friendly coffee shops, an English pub and a swank Italian restaurant. Southampton has long had enough upscale shops and services to satisfy city folk.
Still, the area is relatively isolated, and Mr. Harrison and Ms. Grottenthaler hope that never changes. They prefer the slow pace and lack of modern trappings. “In Muskoka, you have to be much more industrious,” Ms. Grottenthaler says. “You have to boat, you have to swim, you have to fix the dock. Here, you don't have to do anything. You just have to get out your lawn chairs and read a book.” For many harried Torontonians, that might be the biggest lure of them all.
Wednesday, August 19, 2009
Survey Says............
COLDWELL BANKER REAL ESTATE SURVEYS 1,000 MEN AND WOMEN TO DISCOVER GENDER DIFFERENCES IN THE HOME-BUYING PROCESS
Survey Finds that While Couples Make Real Estate Buying Decisions Together,
Women Make Up Their Minds Significantly Faster than Men
BURLINGTON, ON (August 17, 2009) – It often seems as though men and women are from different planets, but every day millions of couples navigate through day-to-day and even life-altering decisions. Because a home is the biggest purchase most people will make in their lifetime, Coldwell Banker Real Estate LLC surveyed 1,000 individuals to discover how much men and women differ in the home-buying process.
The real estate company engaged a third-party research firm, International Communications Research (ICR), to delve into the inner-psyche of men and women, asking questions such as “How long did it take for you to know that the last home you purchased was right for you?” and “If you found the home of your dreams but had concerns about its security, would you still be interested?” Coldwell Banker Real Estate also surveyed couples on additional topics, such as “Who wears the pants in the relationship?” when it comes to making major financial decisions.
“The results were surprising,” said Diann Patton, the Coldwell Banker consumer real estate expert. “Not only did we uncover some of the inherent differences between men and women, but we also pinpointed a number of ways that the two genders are actually the same. For example, both men and women are increasingly concerned with having a space to work in their homes – something we would not have seen 40 years ago.” She continued, “We also found that feeling insecure about a home’s safety is a deal-breaker for most people, regardless of gender.”
Below are some key highlights from the Coldwell Banker study:
Women may be inclined to make up their mind more quickly than men …
When asked how long it took before they knew their home was “right” for them, almost 70 percent of women had made up their mind the day they walked into the house, vs. 62 percent of men. Conversely, significantly more men needed two or more visits: (32 percent of men vs. 23 percent of women).
Women would rather live closer to their extended family than to their job …
55 percent of women find it more important to be closer to their extended family (those that do not live in their household) than to their job, compared to only 37 percent of men.
A home’s security is a deal-breaker for both men and women …
64 percent of women said that if they found the home of their dreams but had concerns about its security, they would no longer be interested. More than half of men agreed (51 percent).
Couples say that no one “wears the pants in the relationship” in terms of major financial decisions …
When asked who wears the pants in the relationship (when it comes to major financial decisions, such as purchasing a home), almost 70 percent of respondents living with their significant other said it’s actually mutual.
However, 23 percent think that they, themselves, wear the pants in the relationship, not their partner. More men than women said this (26 percent vs. 20 percent, respectively).
Men and women agree on how they would use a spare room, for the most part …
When the respondents were asked how they would use an extra 12 x 12 room if it could be anything they wanted, men and women agreed on the top three most popular, and very practical, responses:
Bedroom: 25 percent
Office/Study: 15 percent
Family Room / Den: 11 percent
However, men really do want a “Man Cave”…
Interestingly, out of the 8 percent who indicated they would turn that spare room into an entertainment centre, it was a preponderance of men leading the charge. In fact, four times as many men as women said they would use the extra space for recreation / entertainment.
In addition to providing background on the survey results, Patton is able to offer tips for couples who are currently going through the process of buying a home. “These results further validate how critical it is for couples to recognize each other’s differences and work together, from deciding a neighbourhood to how to use a spare room,” she said. “Online tools and the expertise of a real estate professional can be particularly helpful for couples, especially if they work together step-by-step along the way.”
Methodology: Coldwell Banker Real Estate engaged ICR to conduct an omnibus survey via telephone in May 2009, among more than 1,000 U.S. respondents. Canadians were invited to participate through a Zoomerang online survey
About Coldwell Banker Real Estate LLC
Since 1906, the Coldwell Banker® organization has been a premier full-service real estate provider. In 2008, Franchise Times magazine’s prestigious Top 200 issue ranked the Coldwell Banker system No. 1 in real estate for the ninth straight year and 12th among franchisors in all industries. The Coldwell Banker System has approximately 3,500 residential real estate offices and approximately 100,000 sales associates in 47 countries and territories. The Coldwell Banker System is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International® division. It is a pioneer in consumer services with its Coldwell Banker Concierge® Service Program and award-winning Web site, www.coldwellbanker.com. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.
Survey Finds that While Couples Make Real Estate Buying Decisions Together,
Women Make Up Their Minds Significantly Faster than Men
BURLINGTON, ON (August 17, 2009) – It often seems as though men and women are from different planets, but every day millions of couples navigate through day-to-day and even life-altering decisions. Because a home is the biggest purchase most people will make in their lifetime, Coldwell Banker Real Estate LLC surveyed 1,000 individuals to discover how much men and women differ in the home-buying process.
The real estate company engaged a third-party research firm, International Communications Research (ICR), to delve into the inner-psyche of men and women, asking questions such as “How long did it take for you to know that the last home you purchased was right for you?” and “If you found the home of your dreams but had concerns about its security, would you still be interested?” Coldwell Banker Real Estate also surveyed couples on additional topics, such as “Who wears the pants in the relationship?” when it comes to making major financial decisions.
“The results were surprising,” said Diann Patton, the Coldwell Banker consumer real estate expert. “Not only did we uncover some of the inherent differences between men and women, but we also pinpointed a number of ways that the two genders are actually the same. For example, both men and women are increasingly concerned with having a space to work in their homes – something we would not have seen 40 years ago.” She continued, “We also found that feeling insecure about a home’s safety is a deal-breaker for most people, regardless of gender.”
Below are some key highlights from the Coldwell Banker study:
Women may be inclined to make up their mind more quickly than men …
When asked how long it took before they knew their home was “right” for them, almost 70 percent of women had made up their mind the day they walked into the house, vs. 62 percent of men. Conversely, significantly more men needed two or more visits: (32 percent of men vs. 23 percent of women).
Women would rather live closer to their extended family than to their job …
55 percent of women find it more important to be closer to their extended family (those that do not live in their household) than to their job, compared to only 37 percent of men.
A home’s security is a deal-breaker for both men and women …
64 percent of women said that if they found the home of their dreams but had concerns about its security, they would no longer be interested. More than half of men agreed (51 percent).
Couples say that no one “wears the pants in the relationship” in terms of major financial decisions …
When asked who wears the pants in the relationship (when it comes to major financial decisions, such as purchasing a home), almost 70 percent of respondents living with their significant other said it’s actually mutual.
However, 23 percent think that they, themselves, wear the pants in the relationship, not their partner. More men than women said this (26 percent vs. 20 percent, respectively).
Men and women agree on how they would use a spare room, for the most part …
When the respondents were asked how they would use an extra 12 x 12 room if it could be anything they wanted, men and women agreed on the top three most popular, and very practical, responses:
Bedroom: 25 percent
Office/Study: 15 percent
Family Room / Den: 11 percent
However, men really do want a “Man Cave”…
Interestingly, out of the 8 percent who indicated they would turn that spare room into an entertainment centre, it was a preponderance of men leading the charge. In fact, four times as many men as women said they would use the extra space for recreation / entertainment.
In addition to providing background on the survey results, Patton is able to offer tips for couples who are currently going through the process of buying a home. “These results further validate how critical it is for couples to recognize each other’s differences and work together, from deciding a neighbourhood to how to use a spare room,” she said. “Online tools and the expertise of a real estate professional can be particularly helpful for couples, especially if they work together step-by-step along the way.”
Methodology: Coldwell Banker Real Estate engaged ICR to conduct an omnibus survey via telephone in May 2009, among more than 1,000 U.S. respondents. Canadians were invited to participate through a Zoomerang online survey
About Coldwell Banker Real Estate LLC
Since 1906, the Coldwell Banker® organization has been a premier full-service real estate provider. In 2008, Franchise Times magazine’s prestigious Top 200 issue ranked the Coldwell Banker system No. 1 in real estate for the ninth straight year and 12th among franchisors in all industries. The Coldwell Banker System has approximately 3,500 residential real estate offices and approximately 100,000 sales associates in 47 countries and territories. The Coldwell Banker System is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International® division. It is a pioneer in consumer services with its Coldwell Banker Concierge® Service Program and award-winning Web site, www.coldwellbanker.com. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.
Sunday, July 26, 2009
Friday, June 26, 2009
Jason Steele Broker
Okay Buyers, the time is now, rates are low, afford a home...let me show you how. Your in good hands, when you choose me, my testimonials prove how honest I can be. You will be treated with the unexpected, pure heart, and compassion unlike the political elected (hey it ryhmed!) So when you are ready to make this big choice, let Jason Steele - Broker be your Real Estate VOICE!!!
Tuesday, May 12, 2009
Balanced Market
I sure do appologize for not blogging for some time now. Things have been so busy, I have been focusing on my clients needs.
Could it be that we are heading towards a balanced market?
1) Prices in Saugeen Shores seemed to have stabilized
2) Inventory of homes for sale is not exceptionally high like last year
3) The market is moving in this area
These are certain indications that we are heading out of the buyers market and with rates this low (3.85%) now is a great time to buy.
When and how should I list my home!
Could it be that we are heading towards a balanced market?
1) Prices in Saugeen Shores seemed to have stabilized
2) Inventory of homes for sale is not exceptionally high like last year
3) The market is moving in this area
These are certain indications that we are heading out of the buyers market and with rates this low (3.85%) now is a great time to buy.
When and how should I list my home!
If you are thinking of listing your home, now is a very good time. Buyers are out shopping because of interest rates and the weather is making it even nicer to go property shopping!
Listing privately can cause lots of problems, the number 1 being that "are you opening your door to strangers"?
DON'T OPEN YOUR DOOR TO STRANGERS! HIRE A PROFESSIONAL LICENCED REALTOR®
Not everyone knows the value of your home. Neighbors, friends etc may tell you one thing, but you should put your trust to a professional to price your home according to the market conditions.
It's possible that you will get some people that tell you your house is worth more than it really is. The problem is, it will sit on the market and not get the attention it needs to sell.
Others will offer you a great deal, only to lack service.
A "professional" REALTOR® should offer you comparisons of properties currently listed, recently sold and ones that have expired or reduced because they are over priced, their listing services, and their obligation to your home as far as open house times, advertising etc.
Don't fall into the overprice trap!
Thursday, April 9, 2009
....building a high standard of professionalism to the real estate transaction
REALTORS® POST BEST MONTH IN 6 MONTHS
(April 7, 2009) – For REALTORS® of the REALTORS® Association of Grey Bruce Owen Sound (RAGBOS), March marked their busiest month in half a year.
REALTORS® of the RAGBOS traded 145 residential properties in March for a total value of $27,931,305, representing a 61.1 percent increase over February’s results. This is the third consecutive month that the RAGBOS has recorded an increase in sales from the previous month.
“Canadians still see home ownership as a good investment” says Neil Devlin, President of the REALTORS® Association of Grey Bruce Owen Sound, “and with historically low mortgage rates and improved affordability, first‐time home buyers are getting into the market.” “Despite all the negative news about a sluggish economy, homes sold for an average price of $192,630 last month, which is a 6% increase over the previous month, although a 7.9% decline from the first quarter of 2008 figures.
“It is first‐time home buyers who seem to be moving the March sales figures” explains Devlin. “Homes selling in the $120,000‐$250,000 range made up 45% of the total residential home market activity in March, a 4.3% increase in the proportion of sales occurring in that segment compared to the same period last year.”
Devlin believes that now is a good time for qualified buyers to enter the market. Sellers realize that their home must be realistically priced to attract offers and there is now a good selection of properties for sale.
Combined with a prudent buying public we are now in a “balanced market” situation.
A busy spring market is anticipated, being boosted somewhat by the Federal Budget 2009 incentives to get Canadians into their first home or renovating their current home.
Some of the budget highlights include:
• Providing first‐time home buyers with additional access to their RRSP savings to purchase or build a home by increasing the Home Buyers’ Plan withdrawal limit to $25,000.
• Assisting first‐time home buyers by providing up to $750 in tax relief to help with the purchase of a first home.
• Implementing a temporary Home Renovation Tax Credit that will provide up to $1,350 in tax relief.
• Providing an additional $300 million over two years to the ecoENERGY Retrofit program to support home retrofits.
Sellers who are uncertain about current market conditions should consult a REALTOR® to develop an effective marketing strategy. A REALTOR® knows the local market and can help you decide on a competitive listing price for your home.
• Providing first‐time home buyers with additional access to their RRSP savings to purchase or build a home by increasing the Home Buyers’ Plan withdrawal limit to $25,000.
• Assisting first‐time home buyers by providing up to $750 in tax relief to help with the purchase of a first home.
• Implementing a temporary Home Renovation Tax Credit that will provide up to $1,350 in tax relief.
• Providing an additional $300 million over two years to the ecoENERGY Retrofit program to support home retrofits.
Sellers who are uncertain about current market conditions should consult a REALTOR® to develop an effective marketing strategy. A REALTOR® knows the local market and can help you decide on a competitive listing price for your home.
If you are buying, a REALTOR® will negotiate on your behalf and guide you through every step of the process. A REALTOR® understands the market and must, by law, look after your best
interests. The use of average price information can be useful in establishing long term trends; however the REALTORS® Association of Grey Bruce Owen Sound cautions that an average price does not indicate the actual value of any particular property. Those requiring specific information on property values should contact a REALTOR®.
interests. The use of average price information can be useful in establishing long term trends; however the REALTORS® Association of Grey Bruce Owen Sound cautions that an average price does not indicate the actual value of any particular property. Those requiring specific information on property values should contact a REALTOR®.
The REALTORS® Association of Grey Bruce Owen Sound is made up of over 350 REALTOR® Members.
Its jurisdiction consists primarily of Bruce and Grey Counties, although a small portion of Wellington County is included. Much of its Southwestern Ontario trading area is bordered by Lake Huron and Georgian Bay.
REASONS to use a REALTOR®:
• REALTORS® are trained professionals, licensed by the Province of Ontario and are accountable to the Real Estate Council of Ontario (RECO).
• REALTORS® are subject to a higher standard than the minimum standard required by the Real Estate & Business Brokers Act (REBBA 2002).
• REALTORS® are members of real estate boards and as such are required to adhere to the Canadian Real Estate Association’s Code of Ethics and Standards of Business Practice.
• REALTORS® have completed stringent educational and licensing requirements and must be of good reputation in order to be licensed.
• REALTORS® are committed to continuing education and consistently refine and improve their skills and professional knowledge through participation in the profession’s Professional Development Program.
• Both RECO and 43 Ontario real estate boards use a comprehensive investigatory and disciplinary process to deal with complaints. REALTORS® who are found to have breached either the legislation or REALTOR® Code are subject to sanctions by their board and RECO.
• REALTORS® are covered by a well-funded errors and omissions indemnity plan.
• REALTORS® use standardized forms and have access to well drafted (and court-tested) clauses and phrases which affords a high level of protection and comfort to their clients.
• REALTORS® are paid when a transaction successfully completes meaning that commissions and fees are not normally paid by the client unless a transaction successfully completes.
• REALTORS® have access to and use the Multiple Listing Service® and REALTOR.ca listing services – the most successful real estate listing website in Canada.
• REALTORS® are trained marketing professionals – they know how to price and market properties so that they sell for the most money possible in the shortest time possible.
• REALTORS® are trained negotiators. Sellers and buyers do not generally negotiate for a living. This places them at a disadvantage because they can become emotionally involved when they deal directly with an unrepresented buyer or seller.
• REALTORS® are thoroughly familiar with representing buyers and sellers in real estate transactions and understand the pitfalls of the process. Sellers and buyers “doing it themselves” can make mistakes, the result of which can far outweigh any perceived or real financial advantages to be gained in saving a commission or fee.
• Unrepresented buyers and sellers using for-sale-by-owner organizations expect to save REALTORS®’ fees. However, since both buyers and sellers want to save the same commission or fee, their negotiations begin at a disadvantage. Their negotiations are further hampered because they do not have an independent party like a REALTOR® to help them negotiate the best possible deal.
• REALTOR® involvement can protect consumers against the risk of a potential loss due to
misadventure, fraudulent dealings or criminals who case homes during showings. REALTORS®
provide “on hand” professional advice, are adept at advising clients how to avoid any financially
damaging situations and give consumers peace of mind by providing them with a stream of qualified clients.
"REALTOR® is a registered trademark of REALTOR® Canada Inc., a company partly owned by The Canadian Real Estate Association". Trademark use under license from The Canadian Real Estate Association.
Information provided by the REALTORS® Association of Grey Bruce Owen Sound, copyright 2009. E&OE
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