The majority of home sellers understand the simple basics that need to be done in order to prepare you home for a showing – vacuuming, cleaning, cutting the lawn, fluffing the pillows, etc. But, there are numerous hidden, uncommon staging tips that can make your home a more desirable option for potential buyers – making it just a bit more attractive.

The Kitchen (One of the most important rooms people consider when buying home)

Simple Tip:

• Clean the stove, sink, and countertops to become absolutely spotless

Hidden, Uncommon Tips:

• Grind a lemon to eliminate any lingering odours to give it a fresh, inviting, natural scent to the room

• Arrange the contents of your refrigerator and pantry to face forward for a more organized, tidy, visual appeal

The Bathrooms

Simple Tip:

• Scrub the tub!

Hidden, Uncommon Tips:

• The toilet lids are closed

• Hang matching towel sets on the racks for a uniform look

The Bedrooms

Simple Tip:

• Beds are made, pillows are fluffed!

Hidden, Uncommon Tips:

• Make sure nothing is lying around on the floor or misplaced

• A shirt draped neatly over a chair or shoes lined up against the wall can appear messy to some potential buyers

The Play Place (if you have children, tidiness of the toy room is important)

Simple Tip:

• Tidy up the toys on the floor and put them away into bins and boxes

Hidden, Uncommon Tip:

• Set the toys up to be “staged” instead of throwing them into a corner or into a box. For example, you can set up a train to displayed how you find it at the store. If you have race track, set up the cars to be ready to race.

Extra Hidden, Uncommon Tips:

• Did you know house plants look their biggest and brightest approximately four hours after you water them?

• Turn all the lights on – open and brighten the house up – this includes the fireplace and even that one above the stove!

• Don’t forget the tunes! Throw on some easy listening tunes for the background. Remember to keep the volume low as the potential buyers shouldn’t have difficulty talking above the music.

 

These hidden, uncommon stagings tips will only take just a few minutes to execute – but it’s worth it. Studies show that a well-prepped home for viewings will help sell your home faster and at a higher price.

 

October has flown by! End of the month calls for new stats. The Real Estate Board of Greater Vancouver (REBGV) October Statistics Report on the housing market has been released. Below gives you a quick overview along with some key points of the report.

Balanced Conditions continue this month

• For this month, residential property sales reached 2,661 on the Multiple Listing Service (MLS). This results in a 37.8% increase compared to October 2012
• New listings (attached, detached, and apartment properties) totaled just over 4,300
• Currently listed properties totaled 15,257, a decline of 5.3% compared to that of September 2013
• $600,700 is the current composite benchmark price from the MLS Home Price Index, a 0.5% decline compared to October 2012

Sandra Wyant, President of REBGV said in the October Statistics Report, “We continue to see fairly typical activity when it comes to monthly home sale and listing totals. Today’s activity is helping to keep us in balanced market territory, which means that prices tend to experience minimal fluctuation.”

Check out the YouTube video of the October Statistics from REBGV.

To see the full, published report on the October Statistics click here.

If you have any questions regarding the above, please give us a call, 604-588-4466 or email us info@brokersmart.ca

For more blog posts on real estate related topics, click here .

Last week, the Bank of Canada released their October Monetary Policy Report. Below are the key facts and findings regarding the future outlook of the Canadian economy.

The Monetary Policy Report forecasts the growth of the economy each year in order to reach full capacity around the end of 2015. The Canadian economy is expected to grow by 1.6% in 2013, 2.3% in 2014, and 2.6% in 2015.

Stephen S. Poloz, the Governor of the Bank of Canada, states in the Press Release three important domestic risks:

1. Given projection for global growth, exports therefore, could be even weaker than assumed. If competitive challenges were greater than anticipated, this is a risk that could be materialized and would result in an even larger loss of market share.

2. On the upside, as confidence returns, domestic momentum builds faster than expected. Business sentiment could improve rapidly if foreign demand becomes more stable and the domestic demand continues to grow at a moderate pace.

3. The unwinding of household imbalances, which are still elevated. Household spending remains strong but there is a slower growth of household credit and higher mortgage interest rates.

The Bank is expecting a more stable balance between foreign and domestic demand to be achieved over time. This will in turn result in more self-sustaining growth for the economy. In recent months, the inflation rate has remained low. This reflects the increase competition in the retail sector, the slow-moving economy, and other specific related sectors.

Overall, the Bank of Canada judges that the monetary policy currently in place remains appropriate. It has decided to maintain the target for the overnight rate at 1%.

Given the above, the next increase in prime is not expected until 2016, which is more great news for variable rate mortgage holders.

 

To view the full October Bank of Canada Monetary Policy Report, click here.

To view the Press Release of the announcement of the Bank of Canada Monetary Policy Report, click here.

 

If you have any questions regarding the above, please give us call to discuss.

604-588-4466      info@brokersmart.ca

For more blog posts on real estate or mortgage related topics, click here .

How Stuff Works: Home shares the Top 10 things that Devalue Your Home. As a homeowner planning to sell, it’s important to understand the key elements of what devalues your home and key tips to increase the overall bottom line.

10. Lots of Comparable Listings – The more appealing your home is, the more buyers you will attract. Make your home stand out from all the ‘For Sale’ signs by focusing on adding value to your home in places where it’s commonly known to have devalued.

9. Neighbourhood Conditions – Train tracks, airports, power plants, and landfills have been proven to all affect your home value negatively. If your neighbourhood has gone downhill, so could the value of your home.

8. School District Details – It’s a common element when shopping for homes that buyers are looking to live close to top-notch schools. This is important to buyers who have children.

7. Nasty Neighbours – An ongoing argument with your neighbours could potentially spill over to the future buyer. It’s a crucial step to make amends with neighbours as many buyers may pass up the offer or try to lower it.

6. Curb Apparel – The Yard – The yard is the first thing people notice when pulling up to a home. A lack of focus on the yard will devalue your home and may result in a harder sell when the time comes. Make it a priority!

5. Curb Apparel – The Paint – There is nothing like a fresh coat of paint to really grab the attention of buyers. By choosing a popular home colour scheme, you are appealing and attracting to a larger buyer base.

4. Interior Aesthetics – Buyers will take note of any clutter, excessive family photos, and the overall cleanliness of the home. Any sign of these elements can devalue your home. Focus on making it warm and inviting.

3. Repairs in Arrears – If you’re in need of any serious repairs, it’s a smart decision to get them fixed prior to putting it on the market to receive the most from your asking price.

2. A Kitschy Kitchen – Keeping your backsplash and countertops up to date can really add value to your home as the kitchen is the most carefully examined room by home buyers.

1. An Abused Bathroom – Any renovations, additions, and updates of the bathroom will definitely add value to your home. But keep in mind that sticking to mainstream and tasteful features will appeal to a larger buyer base and will ultimately serve you better.

Test yourself by taking the quiz of the ultimate things that devalue your home, to make the right decisions when looking to list your home on the market.

There often can be some confusion between these two forms of joint ownership: Tenancy in Common and Joint Tenancy. Laura Holland, Senior Counsel at Drysdale Bacon McStravick LLP, shares the distinction between the two on their newsletter, ‘The Real Estate Primer’.

Now, you’re probably wondering what’s the deal about the pie…

An easy way to remember, but more importantly to understand the term, Tenancy in Common, is to compare it to a pie. Apple, pecan, blueberry, or cherry – picture your perfect pie which will represent a home ownership. You, John, Sarah, and Joe all want to devour that pie equally. There are 4 people who will each receive a quarter of the pie, which represents a ¼ of ownership of the home. Another example is cutting the pie into two halves – for you and Joe, each owning an equal 50% of the property.

Tenancy-in-Common ownership is very common for business associates or unrelated parties looking to purchase property. In the event of the death of an owner, that portion of the pie, according to their Will, will be passed on to their beneficiaries.

In Joint Tenancy, there is no need for a cake knife. You and Joe can sit there devouring the pie together straight from the plate. No slicing needed – although, maybe just a fork and some napkins! You and Joe own the entire property, together. Of course, there is always room for more forks in the pie, but you are all together, an owner of the property. No cutting of the pie is needed.

In the event of the death of an owner in Joint Tenancy, the survivor continues to own 100% of the property and 100% of the pie.

 

That’s the defining difference between Tenancy in Common and Joint Tenancy.

Time to treat yourself to a slice of pie, or maybe a whole one!