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

Making Good Real Estate Decisions

We found a great article online authored by Scott McGillivary of HGTV entitled “How to Make a Smart Real Estate Purchase” and thought it would be a great article to share with our readers, as it outlines his “top five tips for making a smart real estate purchase so you don’t get burned!”  A brief overview of these five tips are given below:

1.       Stay on Budget – it is important to have a plan and be realistic about what you can afford to pay for your new home – it is wise to not just think about what you can afford to pay for a mortgage, but also to think about your lifestyle and how much you spend monthly on things you enjoy doing.

2.       It is Okay to Walk Away – Always have a home inspection done and if you can’t afford the house and/or can’t afford to fix it – find another house.

3.       Consider Every House – if you see a house online and it is in the neighbourhood you want and is in your price range, arrange to see it – you never know how the house truly looks until you see it for yourself.

4.       Consider Your Purchase of a Home Over the Long-Haul – a mortgage can lock you in for a certain time period – if you think that you may not want to be in a certain home for the next five years, you may want to consider looking at alternatives.

5.       Get The Opinions of People You Trust – purchasing a home can be a very emotional process – advice from those you trust can keep you on the right track.

We hope these few tips help make your home purchase more rewarding – 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

Five Helpful Tips for Selling Your Home

It is relatively simple to be a successful seller with the use of some easy steps to take before putting your property on the market. Here are some tips to help make the selling of your home quick and relatively straightforward.

1.     De-personalize and de-clutter your home – buyers viewing your home need to be able to envision their own life and personality in your home.

2.     Freshen up your kitchen and bathroom (s) – a new coat of paint and/or new hardware are economical ways to bring new life to your kitchen and/or bathroom (s). Keeping these areas clean and free of clutter also adds appeal to these important rooms for buyers.

3.     Your house must be immaculate for showings – make sure your house “sparkles” for showings, from the light fixtures to the floors and everything in-between.

4.     Make sure your home is “dressed” for showings – You must impress the buyers the moment they drive up to your home so add some colourful flowers, trim the bushes and cut the grass (in winter always make sure the drive and walk are clear of snow and put down salt if these areas are icy). – if buyers are not impressed with the outside of the home they may not be interested in viewing the inside.

5.     Price your house well – we all would like to get top dollar for our homes but pricing your home realistically is key to selling it – a REALTOR(R) can be of great help in this regard, since he or she can offer an objective opinion on price and has access to current housing prices in the area – they can offer an professional, objective third party opinion on the value of your home.

Julie Kinnear with “The Canadian Real Estate Pages” has written a great article expanding on these 5 tips – to view the full article click here.

If you are thinking of selling your home, we would love to speak with you about current market conditions in your area and help you with the home selling process, please feel free to call us anytime at 1-877-252-5242.

Until the next time,

The Jamie Dann Team

10 Simple Steps for Buying Your First Home!

Thinking about buying your first home can seem quite overwhelming and stress provoking, but with a little bit of preparation it can become a reality!

Here are 10 helpful hints to prepare for buying your first home:

Step 1 – Build a Budget

Step 2 – Investigate Mortgage Options

Step 3 – Choose a Realtor

Step 4 – Choose a Lawyer

Step 5 – Look at Homes

Step 6 – Submit an offer

Step 7 – Choose a Home Inspector

Step 8 – Finalize the Deal

Step 9 – Prepare to Move

Step 10 – Closing Day!

For more details about each step, for more information and for great tips about the home buying process, Genworth Financial Canada has published a great article that is well worth the read  if you are considering purchasing a new home –  to view the article click here.

I hope this information helps you in your home buying adventure! Please don’t hesitate to call The Jamie Dann Team at 1-877-252-5242 if we can help explain the home buying process to you or if you have any Real Estate questions – We are here to help!

Until next time,

The Jamie Dann Team

Sell First or Buy First?

“Should we sell our current home before we put an offer in on another property or should we start looking for a new home before we put our home on the market?” This is a question we are asked frequently by home buyers who want to make a move and own the home they are living in. It is a great question! If you buy first clock starts ticking on selling your current home because you likely need that money to close the house you just purchased. If you sell first, are you prepared to rent somewhere until you find a home you like in a neighbourhood you want? There are certainly pros and cons of both selling first and buying first, the decision may just be decided by the real estate market you are in at the time. You may decide to buy first if the current market is described as a “seller’s market” where homes listed are selling quickly (meaning there are more people out looking for homes than people listing their homes). You may decide to sell first if you are thinking of buying a “subdivision house” that is fairly common in its layout (i.e., a three bedroom, two bathroom home in a well-populated subdivision)

Whether you decide to buy first or sell first you may want to opt for a longer closing date to allow yourself time to find your new home or to allow yourself time to sell your existing home. You can also opt to purchase a home with the condition that your current home sells, however if you choose to go this route, bear in mind that you may be going against buyers without that condition. Also that offer may give you a right of first refusal but you may have a restricted time period (usually between 24 and 72 hours) to come back with a clean offer with no conditions.

At the end of the day it is up to the individual and the market they are in as to which deal comes first, however if you buy first you have to be confident that you will sell.

To read a great article on this subject from the Financial Post click here.  I hope you enjoy this article and that it gives you some pause for thought. For information about how the market is shaping up currently in the Barrie Area, please give us a call. We would be more than happy to discuss all aspects of buying and selling homes with you.

Until next time,

The Jamie Dann Team

Interesting Mortgage Market Predictions for 2013

I found an interesting article online from "The Globe and Mail" a couple of weeks ago outlining five predications their mortgage columnist forecasted for the upcoming year (2013) regarding the mortgage market in Canada.  These predictions were:

1.      More home buyers will be shopping for lower mortgage rates online and using the internet to compare rates as opposed to speaking with specific, individual lending institutions.

2.     Variable-rate mortgage will improve - recently these rates have been somewhat neglected but it is predicted that lenders will get more aggressive with their variable-rates in 2013.

3.     People that rent housing will pay more in 2013 - new mortgage rules will prevent some first time buyers from purchasing a home, causing them to stay in their rentals longer, causing less rental properties being available, causing a shortage of rentals, causing rent increases.

4.     There will be job losses in the mortgage industry – new mortgage rules will result in fewer people being able to buy homes resulting in fewer people applying for mortgages.

5.     Tighter mortgage rules will cause more home buyers to pay higher rates (“non-prime”) than in the past as the number of people classified as being “higher risk” will increase.

To view the full Globe and Mail article click here.  I hope you find it interesting reading – only time will tell if these predictions will come to fruition.

Until next time,

The Jamie Dann Team