Do You Know The History of Your Home?

Did a murder happen in your home? Was your home formally used as a “grow-op” or “meth lab”? Have there been any past insurance claims on your home for issues such as water damage or fire? These are questions that should be addressed before a home is put on the market, but unless a seller is questioned directly about such issues, it is unlikely this information will be shared.

Under a Realtors® Code of Ethics, if they know about a death, grow-op or other negative history of a home which may affect the value of a property, they must disclose this information to a potential buyer. However, if the agent is unaware of any negative history of the home, there is nothing to disclose.

We found a great article written by Mark Weisleder (Real Estate Lawyer, Author, Speaker) for the Toronto Star entitled “How to find if a murder happened in your home” addressing this subject. We thought that others may be curious as to how to find information about the history of a home they may be interested in purchasing.

Mark Weisleder reports that more and more people are turning to the internet to try and find information. He states “Buyers and Real Estate Agents are going to www.homeverified.ca and www.iverify.com to see whether a property was ever listed as a grow house or meth lab and whether a prior owner had made an insurance claim on the property for fire or water damage, or sewage backup”. He also references another internet site – www.housecreep.com – which is a relatively new website developed by two brothers in Toronto where someone can enter the address of a home to see whether a crime, murder or grow op has been reported on the property. According to him the website claims to have a database of over 2000 properties and continues to grow every day. He states “The website invites other parties to share information about properties as well. They (the brothers) then try to verify everything through newspaper reports”. He also advises “Users should beware that some of the information may not be accurate and should be independently verified”.

Mark Weisleder ends his article by saying “With more and more information becoming available on the internet, I encourage sellers and real estate agents to disclose these types of property stigmas. It will come out eventually. Who needs to go to court to fight about it later?"

To read Mark Weisleder’s entire article, click here.

We hope that you find this blog interesting and informative. As always, if you or someone you care about is thinking of making a move or if you just want some general information about the Real Estate market in your area, please don’t hesitate to give us a call, we would love to talk to you!

Until next time,

The Jamie Dann Team

Selling Your Home in The Winter Months

Moving is stressful, that is a given, but moving during the winter months makes that stress even more stressful!  A lot of people wait until spring to list their homes for sale but there are some who have to make their move during the cold, dark, snow filled days of winter – it is to those of you that our blog today is for. We found a great online article written by Dana Dratch of Bankrate.com. In her article Dana addresses 13 tips for presenting your home for sale at its best in the winter.  Her tips are:

1.       Keep walkways and driveways free of ice and snow – if a potential buyer can’t get into your home easily, it will be more difficult to sell.

2.       Keep your home “warm, cozy and homey” – potential buyers who come into your home and are not comfortable will not stay long.

3.       Make the most of the natural light you have – make sure curtains and blinds are clean and open them as wide as possible during daytime showings – install light bulbs into fixtures with the highest wattage that they will safely accommodate – make sure all lights are on for showings.

4.       Wash your windows – in winter, strong southern light can reveal grime and can make a home look like it isn’t well maintained.

5.       Play soft music in the background – this creates a warm atmosphere and is soothing for potential buyers.

6.       Make your home feel comfortable and cozy – putting a warm throw on the sofa or folding back the comforter on the bed can help “set the scene” and help the buyers see themselves living in your home.

7.       Emphasize the winter positives of your home – be sure your Realtor® mentions to potential buyers if your home is on a street that is plowed or de-iced regularly in bad weather (i.e., if your home is on a bus route).

8.       Install timers on lights both inside and outside your home  - this way, your house will look inviting even when you are not home to turn on the lights.

9.       Make your home “festive” – First impressions are extremely powerful – set the table with the good china and silverware - you may consider putting out a plate of cookies and some bottled water for potential buyers.

10.   Give your home a nice aroma – the number one favourite smell is chocolate chip cookies – however, don’t overdo the smell in the house as this can have potential buyers thinking ‘What are they trying to cover-up?”

11.   Protect your home – You may want to post a small sign in your foyer asking buyers who are viewing your home to kindly remove their wet footwear, this indicates to buyers that you have pride of ownership and that you care about your home.

12.   Use the season to your advantage – in the winter the leaves are off the trees which may show off the view from your home which may not be as apparent in the spring and summer.

13.   Consider your area – In some parts of the country, such as ski areas, winter weather can actually be a selling point.

To read Dana Dratch’s full article, click here.

If you or someone you care about is thinking of making a move or if you just want some general information about the Real Estate market in your area, please don’t hesitate to give us a call, we would love to talk to you!

Until next time,

The Jamie Dann Team

Thinking of Buying a Resale Home?

We came across a great article written by  Mark Weisleder ( a Real Estate lawyer, author and speaker) for the Toronto Star entitled “5 things to consider when buying a resale home”. Here are some of the points he discusses in his article:

1.      Get information from the seller – some sellers have a professional home inspector inspect their home before they put their property on the market and are willing to give the buyer a copy of the report. Some sellers may also provide potential buyers with a home history report. However, even if this information is provided, buyers should have their own home inspection done.

2.      Ask the sellers questions – ask the seller or the seller’s REALTOR® if there has ever been any problems with flooding or roof leaks. By law, sellers are required to respond truthfully if asked directly.  

3.      Talk to the neighbours – it is a great idea to walk around the community and ask people about the neighbourhood. 

4.      Include clauses in your offer– Make sure your offer includes a list of everything you expect to be left in the house. 

5.      Get pre-approved for a mortgage – it is very important to get pre-approved by a professional mortgage broker or bank before submitting an offer on a house so you know how much you can afford – be aware that if your lender thinks you paid too much, they will not lend you the amount of money you may be expecting.

To read Mark Weisleder’s full article, click here.

If you or someone you care about is thinking of making a move or if you just want some general information about the Real Estate market in your area, please don’t hesitate to give us a call, we would love to talk to you!

Until next time,

The Jamie Dann Team

How Is The Market?

We are often asked by clients, friends and family “How is the market?” We thought we would take a moment to update all of our readers on how the experts find the Real Estate market throughout Canada is current doing.

We found a great online article from www.canadianrealestatemagazine.ca entitled “August Sales Exceed Expectation, Stir Concerns” - which states “…home sales in August were sharply up from the same month last year, driven by fears of rising interest rates”. The article goes on to say “…The number of home sales…rose 2.8 per cent on a month-over-month basis in August 2013. On a year-over-year basis the climb was 11 per cent”.

Canadian Real Estate Association (CREA) Chief Economist Gregory Klump was quoted in the article saying “Sales activity dropped sharply around this time last year in the wake of tightened mortgage rules and has improved since then…” He continued saying “…the upward trend and levels for activity in recent months has been steeper than expected, but that may not last”. He also stated “Recent increases to fixed mortgage rates caused sales to be pulled forward as buyers with pre-approved financing at lower rates jumped into the market sooner than they might have otherwise". He concluded saying “The outsized year-over-year gains may persist, however, due to weak sales toward the end of last year”.

We hope this gives you some information about how the Real Estate market is currently doing in Canada. To read the entire article, please click here.

As always, if you or someone you care about is thinking of making a move or if you just want some general information about the Real Estate market in your area, please don't hesitate to give us a call, we would love to talk to you!

Until next time,

The Jamie Dann Team

Should You Renovate If You Are Planning a Move?

We found another great article authored by Scott McGillivray of HGTV entitled “Top 5 Renos for Return on Investment” and thought we would share it with our readers as folks are always asking us if it pays to update their home if they are planning a move.  According to Scott “…knowing the right renos to invest in is important to ensure you get the most bang for your reno buck”.  Here is a brief overview of the renovations he suggests may give the most return on investment:

5. Flooring:  Installing new flooring gives a room an updated and renovated look and feel and can be done on a fairly limited budget, depending on the flooring you choose.

4. Hardware & Fixtures:  A home can be updated relatively inexpensively simply by replacing items such as cupboard and drawer handles in a kitchen and/or bathroom, changing outdated light fixtures, and replacing door knobs and/or door hinges.

3. Bathrooms:  Updating a bathroom to give a “spa-like” feel gives a great return on investment as they are usually the smallest rooms in the home and therefore require less investment to make a big impact. When it comes to bathroom renovations Scott states “a little goes a long way”.

2. Kitchens:  Scott assures “…you can do a great kitchen renovation on a realistic budget” and further states “…kitchens also give you the biggest return on investment, far beyond any other room in the house”.

1. Income Suites:  Scott reports “…there’s no renovation you can do to your home that will increase its value as adding an income suite”, he further states “income suite renovations, when done correctly, easily allow you to double your investment”.

We hope these few tips help make your decision about renovating your home easier – to read Scott McGillivray’s full article online please click here.

If you or someone you care about is thinking of making a move or if you just want some general information about the Real Estate market in your area, please don’t hesitate to give us a call, we would love to talk to you!

Until next time,

The Jamie Dann Team

Rising Interest Rates

We have been hearing a lot of talk recently about interest rates in Canada being on the rise, so thought we would take a look for an interesting article regarding this subject. We found a great article from the online Financial Post written by Garry Marr entitled “Can You Handle Higher Interest Rates?”

In his article, Mr. Marr states “higher mortgage rates are on the horizon”. He quoted Frances Hinojosa, a mortgage expert with the Bank of Montreal who stated “First-time buyers should stress-test their mortgage to ensure they are well financially prepared for home ownership and a potential upswing in interest rates, not only to manage costs but also to pay off their mortgage as soon as possible” – he explains that stress testing a mortgage would include considering higher interest rates and a shorter amortization period.

Mr. Marr reported that the Governor of The Bank of Canada indicated that the long term goal is a “gradual normalization” of rates.

We thought it was quite interesting that in his article, Mr. Marr gave an example of a $500,000 mortgage with a 25-year amortization saying “at 3% your monthly payment would be $2,366.23 and you would pay $69,346.66 in interest over a five-year term. Take that same mortgage and raise the rate to 3.5% and the monthly payment jumps to $2,496.36 and the interest over the term reaches $81,180.96”.  We found it remarkable that an increase payment of $130.13 monthly could add up to an overall payment of $11,834.30 over a five year term!  That is an example of an interest rate rising only ½ %! Amazing!! He then gives information regarding the payment if that same mortgage’s interest rate jumped to 5% (only 2% more) – the difference in the monthly payment would be $541.80 and the difference in the amount paid in the total interest cost over the five year term soars to $47,672.33!!

To read the full article, click here.

If you or someone you care about is thinking of making a move or if you just want some general information about the Real Estate market in your area, please don’t hesitate to give us a call, we would love to talk to you!

Until next time,

The Jamie Dann Team

Preparing for a Summer Move

We came across a great summer article from Realtor.com and thought we would share the information we found with our readers.  Summer is the busiest season for moving, here are 10 tips that may make your summer move go a little more smoothly.

1.       Once you have “signed on the dotted line” and purchased your new home, the first decision that should be made is how you will be getting all of your “stuff” from your current place to your new home. Do you hire a company to move you or do you do it yourself?

2.       Plan, plan, plan where everything will go in the new house – write down where each item should go in the new house before packing and then pack accordingly – have the list with you on moving day.

3.       It is never too early to start packing and when you do, as wise idea is to divide everything into categories such as: Donate to charity; Give to a friend; Recycle; Trash; Pack now; and Keep handy until Moving Day.

4.       If you have children, try to arrange for daycare or have a friend watch your children on the day of the move – if this is not possible, make sure to set up a safe place for the children to play in the new house.

5.       Remember your pets – moving can be very stressful for your pet – consider boarding them for moving day or have a friend watch them for the day.

6.       If items need to be taken apart for the move, make sure to keep the small parts in clearly marked bags and then keep all of the bags together in one box, take the box with you personally on moving day.

7.       Take photos of how electronics, computers, TV’s etc. are hooked up before disconnecting them for the move – keep all of the wires and cords together and clearly mark which device each one is for – personally carry them on moving day.

8.       Dispose of as many hazardous chemicals as possible before your move (detergents, pesticides, paint, etc.) – call your city’s hazardous waste department for information about proper disposal in your area – for hazardous chemicals you have to take with you, pack them in a small box and then pack that box in a larger box to protect against leakage – do not overstuff boxes with hazardous materials – seal the boxes containing these items very well, mark them very clearly and keep them separate from the rest of the boxes, especially if you have children or pets.

9.       If you have decided to use a professional mover consider getting full value insurance protection.

10.   If using a professional mover, know your rights.

We hope these tips are helpful to you – to read the full article click here.

If you or someone you care about is thinking of making a move or if you just want some general information about the Real Estate market in your area, please don’t hesitate to give us a call, we would love to talk to you!

Until next time,

The Jamie Dann Team