Thursday 18 October 2012

PRICING YOUR HOME



PRESENTED BY Sandra Duncan, BA, MBA, REALTOR®, CCS
When you price your home at the TOP of the market, you eliminate many prospective buyers because they become unwilling to look at your property.


When you price your home HALFWAY between the market price and the Investor price, you will attract the highest percent- age of serious retail buyers. This is usually the most favorable pricing range.


When you price your home BELOW
the halfway mark you will attract Investor buyers as well as retail buyers, which will result in a very quick sale.



Not choosing the right price when a property is first listed. In other words, thinking, "We can always come down."
Putting the property on the market at an unrealistic price. A property must be priced on a comparative basis to other similar properties on the market.
Not relating marketing time to price. Generally, the quicker you want to sell, the less you should be willing to take.
Calculating brokerage fees on top of the sale price. A home is worth what it's worth, with or without a commission.
Thinking that buyers aren't comparing your home, on a dollar-to-dollar basis, with every other home on the market.

Tuesday 16 October 2012

HOW TO SELL YOUR HOME

How to sell your home without using an agent
It may surprise you to learn that even as a real estate professional, I believe there are some instances when a person can sell their home without utilizing the services of a real estate agent!  I have prepared this free report to help people, who like yourself, are considering selling their home and possibly doing so without using the services of a real estate agent.  In it, you'll find detailed information that will help you sell your home.  Naturally, should you decide at some point to take advantage of the expertise of a professional real estate agent, I would appreciate the opportunity to talk with you.  Thank you.

Factors you need to consider when selling your home
Most homeowners who are considering selling their home are interested in three basic things:
                             Obtaining the most amount of money
                             The shortest possible time
                             The least amount of trouble and inconvenience
Unfortunately, there is much more involved.  For example:  timing, terms, condition, accessibility, advertising, marketing, and merchandising all play a roll in whether or not your home will sell at all, and for how much.  Let's start with the basics.

Arriving at a realistic price to ask for your home
When determining the price to ask for your home, you'll need to know how other comparable homes in your area are priced, what comparable homes have actually sold for, and what homes were on the market, but did not sell.
You may want to order an appraisal to help you obtain this information.  Generally they run between $300.00 and $500.00 and will give you a good idea of what comparable homes are selling for in your area.  Should you decide to list your home for sale with an agent, the agent you choose will provide you with a "Competitive Marketing Analysis" gathered from information he or she can obtain through the Multiple Listing Service and his or her own experience.  Either way, you can get a reliable price structure for your home by compiling this information.

What you need to know about the condition of your home
Essentially, when you put your home on the market, it becomes a "product," and like any other product, the better the condition, the more money you'll receive from a buyer. There is an old saying in real estate that paint is worth $15.00 in the can, or $1,500.00 on the wall.  You should take an objective walk through your house, placing yourself in the shoes of a prospective buyer, and determine for yourself what you think needs to be upgraded, cleaned up, remodeled, refurbished, etc.  I can provide you with a checklist of items you'll need to review.  If you'd like one, please feel free to call.

Terms are also important
Flexible financing is also an important factor in selling your home.  Basically, the more avenues of financing you can provide, the quicker the house will sell.  When showing your home to prospective buyers, you will need to qualify them to determine what kind of financing they can obtain, how much down payment they can afford, how much monthly payment they can afford, and so on.  While this is often uncomfortable, it is a necessary step in the sales process and must be addressed.  Failing to properly qualify your buyers could lead to your home being tied up for several months, only to have the sale fall through later.

How and where to advertise your home
You must understand that people selling their homes as a "For Sale By Owner" and real estate companies, both compete for buyers from the same pool. It goes without saying that real estate companies have the bigger advertising budget.
Since you will be competing with real estate companies for the attention of potential buyers, you'll need to plan on spending enough money on advertising.  Should you decide to list with an agent, the advertising costs are funded by the listing agent and/or the real estate company.
Local newspaper classifieds are a good place to advertise your home.  Once your ad appears in the paper, you will need to stay close to the telephone.  It has been proven that many prospective buyers will not leave their name and number on a recording machine or voice mail.
You'll want your ad to be as descriptive as possible, as it will be competing with many other ads.  Also be aware that many buyers who call a "For Sale By Owner" advertisement do so believing that because the house is not listed with an agent, the price will be lower.  Like you, they are interested in saving the commission, so be prepared to negotiate.

How to Merchandise Your Home
To a person selling their own home "For Sale By Owner," merchandising often means simply showing the home.  To an agent, it means much more, including creating feature flyers, making other agents in the area aware that your home is on the market, holding open houses, and generally doing a host of different marketing activities to help promote the sale of your home.
You might consider doing some of these things yourself. For example, create and design a feature flyer so buyers looking at your home will have something to take with them after they look.  You could hold your own open house.  I can give you some tips on how to hold a successful open house, as well as other ideas for successfully merchandising your home.  If you'd like that information, feel free to give me a call.

Why Most "For Sale By Owners" Eventually List with an Agent
Selling your home without using a real estate agent is, at least initially, an appealing proposition.  Nobody wants to pay a real estate commission.  And yet, it would only make sense to ask yourself, "Why do so many people use a real estate agent to sell their home?"  The answer is really very simple.  Selling your home "For Sale By Owner" is typically an extremely costly and laborious task.  It is time consuming, frustrating, and often ineffective.
Many studies have been conducted by both independent consumer groups and real estate industry trade organizations over the years that convincingly indicate that selling a home "For Sale By Owner," in the vast majority of instances, takes longer and costs more.
The choice is certainly yours, and I hope I've been able to provide you with some ideas that will help.  If you feel you would be open to discussing your alternatives in person, please feel free to contact me at your convenience.


Sandra Duncan, BA, MBA, REALTOR®, CCS
CIR REALTY
168, 8060 Silver Springs Blvd. NW
Calgary, AB T3B 5K1
403-512-1939
©1995-2012 ProspectsPLUS!®

WHAT IS A REVERSE MORTGAGE AND HOW DOES IT WORK


A reverse mortgage is a loan designed to help you tap into the equity in your home.
It's called a reverse mortgage because, unlike a mortgage where you make payments, it pays you. In fact, one of the greatest benefits of a reverse mortgage is that you don’t have to make loan payments for as long as you live in your home.
There are, however, some very specific requirements to qualify. You must:
be age 62 or older live in your home as a principal residence and not be delinquent on any federal debt have enough equity to be eligible for the program meet certain HUD property standards

This is just a glance at what has become a quickly growing market trend. To better understand the intricacies of this or any mortgage or real estate issue, please call me for a confidential appointment. As your real estate professional, I am here to help in any way I can.


Saturday 6 October 2012

TOP TIPS FOR HIRING A HOME CONTRACTOR


Taking the measure of a man, woman or crew that you choose to repair, remodel or renovate your home is not always an easy calculation. As with any profession, contractors come in all shapes, sizes and integrity levels. Keeping your business relationship on the straight and narrow requires commitment, confidence and homework on both sides. Follow these quick tips for a successful project before hiring your next handyman or contractor:

1. Clearly understand and spell out what you want from the project.
 Your contractor will use this information to define your price points,
 identify what subcontractors might be needed and develop a timeline for
 completion. Get commitment up front regarding accessibility,
 dependability and quality.
 Word to the wise: If you change your mind halfway through the project,
 your price and timeframe WILL change accordingly.

2. Get everything in writing. A professional contractor leaves nothing to chance and will take the time to include the full spectrum of what is and is NOT covered in a contractual agreement. This protects you as well as the contractor and eliminates the “he said, she said” issues that can occur with verbal agreements. Be sure to work with contractors who are willing to pull the appropriate permits; building without official permits can cause real trouble when it comes time to sell your home.

3. Make sure your contract includes dates. Specifically define your timelines for the work being done, allowing reasonable leeway for changes and/or acts of nature.

4. Don’t pay too much up front. Most contractors will request a reasonable deposit when the contract is signed.
 If the bulk of the expense is labor, the percentage might be lower than for a job that requires costly materials and equipment. Address progress payment dates up front so that additional payments are made as certain milestones
 are reached. This can be a great motivator to keep the project humming along!

5. Understand the difference between licensed and unlicensed contractors. Hiring licensed contractors can give you additional leverage because they are regulated by the state and run the risk of losing their license if they are less than ethical or leave you with substandard work. That license, however, does not denote expertise in every case.
 There are occasions when unlicensed contractors could very well be best for the job. Just be sure they have a business license and a history of quality work backed by referrals!

6. Get referrals. Never just choose the first name in the phone book or internet search! Ask around. Get at least three referrals from friends, family and co-workers, then call those contractors and ask for additional referrals.

7. Be realistic and flexible. Understand that problems can—and probably will—crop up. Weather delays, subcontractors quitting, material problems and more all can add days or weeks to your project. How your contractor handles these issues is what’s important; the ability to adapt and correct each situation is vital.

8. Remember rapport and respect. At the end of the day, developing a successful relationship with your contractor is just like developing any other business relationship. Mutual respect and rapport is key. Your contractor might show you that respect by delivering on promises and maintaining a clean and safe work environment. On a hot day, serving ice water to a dehydrated crew will win you favor and keep them motivated to do a great job!



When you’re in the market for a contractor or other service professional,
it’s never a bad idea to consult your local Better Business Bureau®.
The BBB provides information on more than 2.5 million organizations.
It is an incredibly helpful consumer resource and a fast way to learn
whether the person you are working with—or are considering working with—has received complaints in the past. You also can check with the
city or provincial office that governs licenses in your area.

WHAT IS A REFERRAL

Did you know that according to a study of home buyers and sellers this year, 38% of sellers were referred to their agent by a friend, a neighbor or a relative?  Another 26% used an agent they had worked with before.  Why?  Because, now more than ever, trust, integrity and reliability are essential qualities people look for when considering the sources and resources they use to help make decisions for their families.  The internet has given consumers a wide spectrum of information to help them decipher what they need to know, but still, in the end, it’s good to know there is a friendly face and helpful hand they can turn to when trying to sort it all out.
That’s why I’m grateful to all of my customers for their many referrals throughout my career, but also happy to provide a list of those customers who don't mind sharing their experience with others.  For most of us, there’s comfort in that referral, and in that knowledge that other people, just like us have been down the same road successfully.
What’s also wonderful is how many of my customers I’ve referred my clients to as well.  If you have a business or service that would benefit my customer base, share it with me!  I’m happy to send valuable referrals your way too!  Call me today!

Thursday 4 October 2012

THE "ETHICS" DIFFERENCE

Many people incorrectly use the terms real estate agent and  REALTOR® interchangeably. While both are licensed to sell real estate, the basic difference is that a REALTOR® is a member of the National Association of REALTORS® and, as such, must subscribe to a strict REALTOR® Code of Ethics.
The Code of Ethics is a promise to the public that when dealing with a real estate agent who is a REALTOR®, they can expect honest and ethical treatment in all transaction-related matters. All REALTORS® are required to complete a minimum of 2 ½ hours of orientation on the Code of Ethics. Existing members must take a refresher course every four years.
Only REALTORS® pledge to abide by the Code of Ethics, and only REALTORS® are held accountable for their ethical behavior.
The basic principles of the Code of Ethics include:
• Protect and promote your client’s interest, but be honest with all.
• REALTORS® shall be careful at all times to present a true picture in their advertising and representations to the public.
• Assure, whenever possible, that transactional details are in writing.
I will be happy to provide a complete copy of the REALTORS® Code of Ethics for your review.
Call me to get yours today!

October - and fall is here

As the air turns crisp and the leaves present their dazzling display of extraordinary color, it is easy to get caught up in this season of change.
The days ahead will be filled with pumpkin patches, sweater weather, fall festivals and hot apple cider!
How will we spend our days? Hurried and hassled? Worried and worn out? Let us borrow an early page from November and remember to slow down and give thanks to the people in our lives who make a difference, the little things along the way that make us smile, and this incredible time of year filled with color and beauty.
Go for a walk with your family or friends. Find those first early leaves
as they fall. Discover the laugh-out-loud fun of apple picking or
pumpkin carving.
However you choose to celebrate the season, know that I am here when you need me. Knowing the tricks necessary to help people find the right home and solve their real estate riddles is more than my job, it is my treat!
Thank you, and have an incredible October!