THOUGHTS ON REAL ESTATE Sunday, March 20, 2011 FIRST STEPS IN PLANNING TO SELLCategories:Brighouse South,Buyers,buying and selling,financing,getting your home ready to sell,Ladner,Ladner Real Estate,listing,market trends,marketing,mortgages,planning,properties,Real Estate,realtors,Richmond,Richmond Real Estate,Showing your home,Steveston Villlage,Tsawwassen
First Steps in starting to think about selling your home.
So, you've made the decision to sell your home either to upsize, downsize or free up some needed equity. As a realtor, while I'm happy to hear from you and look forward to going on this journey with you, I want to know that you've had the most important conversation to start the process . . . the one with your mortgage broker, lender or financial adviser. It can sometimes be a painful process for a homeowner to find out too late that there are penalties or other costs that make it impossible or at the very least difficult to buy their next home. Even if you are buying down you may have debts, liens, charges, penalties etc. that may prohibit your next purchase. You could also end up with a rate that messes up your comfortable monthly payments. Make sure your understanding of the money related to your home is in order before you sell or start looking for your next home regardless of buying up, buying down or just trying to free up equity. A lot of folks are surprised not only by the costs attached but what sometimes isn't there! I have spoken to several homeowners who believe that because Vancouver has a robust real estate market that home values across the board have soared! It isn't the case everywhere and the perceived equity may not exist. Buying out your mortgage early or moving it can cost a lot of money. If you are selling a home, then that also means that you are not a first time home buyer and your next purchase is subject to Property Transfer Tax. This can be and will be several thousands of extra dollars. Considering moving to a condo or townhome? Those monthly strata fees can push the costs outside of what you are approved to purchase. Your mortgage specialist will walk you through the process and ensure that you know how much you are working with, the best rate possible and then you can decide if this is the right to sell.
THOUGHTS ON REAL ESTATE Sunday, March 20, 2011 Consider a "Prelisting" InspectionCategories:Buyers,buying and selling,financing,getting your home ready to sell,Ladner,Ladner Real Estate,listing,marketing,mortgages,planning,properties,Real Estate,realtors,Richmond Real Estate,roofing,selling,Selling your home,Showing your home,Steveston Villlage,Tsawwassen  Often one of the most stressful times for a seller is going through the BUYER'S inspection process. Inspections can often (and usually do) bring to light the "unknown" problems with a property. For some, it maybe worth the cost of an inspection in advance to know what potential challenges and problems lay ahead so unemotional and informed decisions can be dealt with up front.Inspections are managed during the Subject Removal period which generally range from 7 to 10 days in length. Depending on the market conditions, the individuals involved and time constraints of either party, there maybe flexibillity in those timeframes. If during an inspection problems arise that need to be addressed, they can create stress, anxiety, anger, frustration, concern and sometimes poor decisionmaking regarding the sale particularly where price is concerned for either or both sides of the transaction.
Inspection outcomes have tanked deals. Inspections have removed doubts and facilitiated a smooth sale. Home inspections are not just about the structure. If you have landbased property then inspection may indicate problems with things like retaining walls, buried oil tanks, lifting driveways/walkways, fencing, drain tiles etc.
Having a preinspection provides your realtor with useful information about your home and property that can be disclosed from the beginning and used in the negotiation process. For example, if the roof is at the end of it's life expectancy as a seller you have options to replace or take the replacement costs into consideration at listing. As the seller you can decide in advance what you will or will not fix. It's more manageable to get quotes inadvance with time on your side than scrambling at the last minute to find out the value of the repair and someone to do the repairs in a timely way. It's also an opportunity to address the little things that seem big to buyer.
A preinspection is really about peace of mind. You know up front what you are dealing with and how to manage the outcomes.
THOUGHTS ON REAL ESTATE Sunday, March 20, 2011 Starting at the topCategories:,Brighouse South,Buyers,buying and selling,getting your home ready to sell,Granville,Green,Ladner Real Estate,market trends,mortgages,planning,properties,Real Estate,realtors,Richmond,Richmond Real Estate,roofing,selling,Selling your home,Showing your home,Tsawwassen GOING GREENWhen I think about "going green" my first thoughts always turn to green roofing. Partly because my husband owns a high end roofing company here in the Vancouver Lower Mainland, partly because I have been certified to install modular living green roofs through N.A.T.S and partly because as a realtor it's important to understand the changing direction in the building and design of homes and communities and the overall impact on the global environment. As an integral part of any building, whether residential or commericial, the roof plays a key piece in providing protection, comfort and aesthetics. And there are many new options for green roofs including blanket growing medium and local sedum, modular growing medium with local sedum, mixed options with solar panels or at least, roofing that is more environmental friendly in reducing heating and cooling costs, ability to be recycled or created using recycled materials such as sheet metal.
As a Vancouverite, I'm also pleased that our city is at the leading edge of creating and using living green roofs. Think of the Vancouver Public Library, the Vancouver Trade and Convention Centre and the award winning LEEDS compliant Olympic Athletes Village. In some parts of the world, for example Switzerland and Austria, living green roofs are now mandatory by law on all buildings of flat or low slope pitch. THOUGHTS ON REAL ESTATE Sunday, March 20, 2011 Please clean your house before you show!Categories:Brighouse South,Buyers,financing,getting your home ready to sell,Green,Ladner,Ladner Real Estate,listing,marketing,McNair,planning,properties,Real Estate,realtors,Richmond,Richmond Real Estate,selling,Selling your home,Showing your home,Tsawwassen Lately it seems that I have shown a few too many homes to clients where I have to wonder if the seller really wants to sell. I know we have a good and rising market and that the likelihood is that the home will probably sell at some point (it will likely be on market for a longer time and sell for less) but does that mean a seller doesn't have to clean up? As a real estate consultant, I'm embarrassed for all parties, including the other agent.
To be clear, I'm not talking about not getting an extra vacuum in or that there a few kids toys hanging around. I'm talking about the overflow of dishes that have been sitting for days, overflowing garbage, clothing (especially underwear) strewn on the floor of the bathroom and bedrooms. Cat boxes that haven't been cleaned for quite sometime, above stove fans dripping with cooking grease - you get the picture.
Sadly, when you speak to the other agent about it - I have heard things like, "I've told them" or "They have a different view of clean". Etc, etc - I'm sure we have all heard something like it. Worse, they know what their client is like and don't provide any warning of what you can expect when showing the home. I showed one home where we couldn't even walk through the livingroom or open bedroom doors as there was so much stuff on the floor. Needless to say we left without really looking at the home.
Realtors often called agents who have shown their home and ask for feedback. If you are the client, you should know that we are going to be honest and candid from both our own perspective and that of our client.
Yes, everyone has a different "interpretation" of clean - but there are some basic standards that work for the purpose of showing your home to attract buyers and get the price you want in the shortest amount of time. Cleaning is not to be confused with taking care of minor repairs.
Buyers need to clearly see the floors, the counters, the windows and not trip or fall. Dirty dishes, dirty clothes and garbage smell. Put the garbage out, wash the dishes and at least put the dirty clothes into the laundry area. Make the beds. Wipe down bathrooms and vacuum the floors. And - clean up your pet areas!
The challenge for sellers that don't clean up is that realtors will be hesitant to show your property to other clients. THOUGHTS ON REAL ESTATE Sunday, March 20, 2011 It just needs a little paint . . .Categories:Brighouse South,financing,Ladner,Ladner Real Estate,marketing,planning,properties,Real Estate,realtors,Richmond,Richmond Real Estate,selling,Selling your home,Showing your home,Steveston Villlage,Terra Nova,Tsawwassen It's not uncommon to show or list a home where the paint looks old and tired. Perhaps it's even the original paint in a 40 year old home. In some cases a good scrubbing will help - in some, you will need to give your paint a refresh. For some buyers - fading paint is not a big deal and will often comment that the home "just needs paint" and can see themselves doing the work and creating a fresh palette for their new home. This is especially true when the colour scheme is neutral and the home is a size that is overly large.
That said, it's a very different matter for buyers when they are looking at homes where the decorating ideas and colour palette of the seller are bold, very bright or dark, and where the colour schemes prevent the buyer from envisioning their "stuff" in the home. If all the buyer can see is a sellers paint choices and/or a lot of work to make it work for them, and in many cases a lot of money, then the house is likely to take some time to sell, not to mention some rough negotiations based on colour recovery.
As a seller, you may absolutely love what you have done to the place and your paint choices may fit your decor and furnishings perfectly. However, the buyers coming through your home don't have your furnishings or your sense of style. Worse, if you have missed a few spots here and there with no touch up available, a buyer can't even fix trouble spots. We have all seen the bright blue walls in a bedroom with paint missing around heaters or eggplant coloured walls in a bathroom and paint is missing behind the toilet.
For many buyers, an overwhelming colour palette prevents them from seeing themselves in the home. They can't find the feeling or connection.
If you are serious about selling your home, selling it quickly and for top dollar then you should really consider repainting to a neutral colour palette. It maybe inconvenient, but a buyer is likely to see it as a bother too - especially if time can't be worked into repainting before possession. I find this particularly true for families with young children and folks wanting to downsize. They want the home to be move-in ready. In homes with many rooms with bold colours, it's not just a little paint. It's sanding, priming, lots of paint, lots of time and money. Even toning down a few rooms, especially the main areas, can be a great asset to selling.
If you have questions, ask your realtor or consult with a home staging professional.
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jrankin@sutton.com
604.329.0830
Contact Info
Sutton Group - Seafair Realty
#550 - 9100 Blundell Road
Richmond, BC
V6Y 1K3 CA
Email: jrankin@sutton.com
Phone: 604.329.0830
About Me
Prior to my career as a real estate consultant, I worked in fashion, tourism & hospitality and most recently after receiving my BSW from the University of BC, I spent more than a decade as a social worker working with families.
I have a true passion for working with people and creating relationships. I enjoy working alongside ...
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