Tuesday, August 26, 2008

Choosing the Right Real Estate Representative part 2

Once you have chosen your real estate representative it is best to stay with them. Providing your representative has given you the ultimate service and commitment you deserve, you should not bounce around from rep to rep. Most reps invest lots of time, effort and money into selling your home, or as a buyers rep, sourcing out homes that meet your needs. Driving here and there, countless hours spent investigating properties and problems, trips to the registry office, municipal office, bringing that offer back and forth etc, showings and more showings. Did you know a rep does not get paid until the deal is done and closes.
Just because the sign on the property has a Brokerage name on it, doesn't mean you have to call that Brokerage. If you are already working with one, call them first. If they are not comfortable with the area, hopefully they will tell you that.
Most representatives know agents from around the area, and can easily refer you to a reputable one that can help, thus taking the trouble of finding a good rep out of the equation for you. Remember I can show you any listed property in the area, and if it is not listed, I will certainly knock on the door for you!

Wednesday, August 20, 2008

Choosing the Right Real Estate Representative

How to choose your Representative for LISTING your home.

Who do I choose to list it with?
What happens when I list my home?
How much do I ask?
How do I present my home for sale?
Do I have to change many things to sell my home?
What fees are involved?
So many questions, where do I turn?


You need to confide in a representative who has the TIME and ENERGY to market your home, and answer those questions to the best of their knowledge. Don't you want your home exposed by someone that has the TIME to give your home the attention it deserves? Have you seen "lots" of signs out there lately? Having far too many listings doesn't make someone the best. If I know I can’t handle it, I will refer the listing to someone who can that way I have time to focus on the ones I already have. I try to keep my listing portfolio under 12 properties. This way, your home gets the attention it needs to be marketed properly.
Really, when listing your home the representative uses their marketing skills to attract buyers or their agents. Just placing a sign on the lawn and a listing on the Multiple Listing Service may not get the job done.
When you list your home, I will go over the details necessary to make this time in your life as stress free as possible. Open houses, Talking House, marketing are all steps that are taken when you list with me.
Closets, kitchens and bathrooms are the key to selling the home. De-clutter, and sometimes just a fresh coat of paint is all it takes.
As far as fees, commission varies, and there is no set rate. It is all dependant on the type of marketing needed, the “list” price of the home and other variables.
When you have questions, I will do my very best to provide YOU with answers. If I don’t know the answer, I will not guess….I will find the answer!

Tuesday, August 19, 2008

What's the market done so far in Port Elgin

So as of today I have run the numbers on a "search" property basis for "solds".
From May 19, 2007 to August 19, 2007 the number of residential sales were 43.
From May 19, 2008 to August 19,2008 the number of reisdential sales were at 38.
Down only 5 units from last year.

It is the amount of listings that are making the market here look as if it is "cooling" off.

Wednesday, August 13, 2008

The Race For Space

Nothing sells a home better than space! The more open, flowing and orderly rooms seem to potential buyers, the easier it will be to sell the home. Whether your home was built in the last year, or the last millennium, there are things you can do to enhance its space. Before you get started, it’s important to ask yourself what a redecorating or home improvement project will do to enhance the space in your home. Even if you’re not thinking of selling today, you may consider it in the future. Making decisions now to enhance the space in your home will pay off in a big way when you eventually do sell. As a real estate professional, homes are my business. I can help you make the most of your investment. If you can think of anyone who would benefit from my world-class service, please have them contact me today.

Saturday, August 9, 2008

So what is happening in the world of real estate in our back yards? In Port Elgin, employment is steady, tourists are here, and money is being spent. So why does it appear that the market is slow? "APPEAR" is the key word here. The difference between a buyers market and sellers market is very evident between the two.

In a buyers market:
- inventory of listed homes is very high
-lower buyers to listings ratio
- buyers have choice which makes purchasing a slower process
- prices correct to the market (price reductions for the most part)
- buyers have a better negotiation strategy because of these factors

In a Sellers Market:
- employment and economy strong
- inventory of homes for sale are low
- higher buyers to listings ratio
- that must have attitude from buyers
- homes sell at or slightly above listed price (multiple offers on one house)

Right now, we are considered to be in a buyers market.
In Port Elgin, we have seen a huge increase in listed homes over this time last year. There are many reasons, such as relocation, vendors wanting to "cash in" on the market, down/up sizing. This has caused the "APPEARANCE of a slowdown in the market when in actual fact, properties for the most part are selling. Not as quickly mind you, but many are selling. We have seen some correction in the market as far as pricing. Last year, many homes lasted no longer than 30 days on the market, this year, it isn't unreasonable to see a home listed greater than 60-90 days which in the past(pre-2007) was normal. 2007 saw a record breaking year around the country. Now the market is correcting itself from that "must have" attitude.
Part of the reason for the "scare" in the market, is people think that if it is happening somewhere else, it is going to happen here. Take the U.S. market for example. That was the big hype for some time. This impacted us, becuase of the fear of it happening here. People also get nervous when they see the layoffs in other markets such as Oshawa. This is very much understandable.
In this type of market, when purchasing a home to "live" in, you can't think of the word "flip". If it is the home you want, and you can afford it, make some negotiations, then make the purchase. Don't hinder on what the value will be in 5 years...no one has a crystal ball nor a theory on what the future will hold for that particular home as there are far to many factors to consider. Most of which are beyond your control.