REAL ESTATE NEWSLETTER
Exceptional Real Estate ... Exceptional Realtor
Time to Think about Transitions
Spring is in the Air!
Hello again Friends, Neighbours and Clients,
Thank you, Dear Readers, for your kind comments. An enthusiastic 93% of you gave my January Newsletter positive reviews. Be careful with your encouragement, you may unleash my inner journalist-Genie. I am unstoppable. :)
Here is Volume II for your review. Spring is an inspiring time of rebirth and rejuvenation. Buds are bursting, life is awakening. Hence, the theme of this Newsletter is, transition.
Here are a few articles of interest to homeowners and sellers. Topics include: Home Staging, Digital Decorating, Downsizing, Hidden Costs When Selling, Mistakes Sellers Make, How to Pick Your Agent and Current Market Statistics and Trends.
As a Realtor, my job is to help people change: homes, locations, lifestyles and destinies.
I deal with first-time buyers, move-up buyers, downsizing sellers and clients approaching retirement. Whether they are Hatched, Matched, Detached or Dispatched, all my clients are moving out and moving on. I specialize in transitions.
A favorite part of my job involves another type of metamorphosis, home-staging. This is an intensely creative process which transforms the condition, content and appearance of your home to add value, appeal to the largest number of buyers and accelerate the sale.
Staging requires work, artistry and ingenuity, plus a studious awareness of what buyers want. I am always thrilled to witness my listings morph from a cluttered and dated mess into a refined, modernized, stunning showcase. I love the challenge. My clients love the results.
Staging works. The golden rule in preparing your home for market is: less is more. Now, it is even possible, with the help of computer technology, to transform any room from shabby to chic with a few clicks of a mouse.
If you are contemplating selling, or just interested in ideas for a quick and inexpensive home makeover, read on ...
Until next time, Happy Spring!
STAGING SECRETS FROM A PRO:
Quick and Easy Lipstick Renovations
Can Transform Your Home from
Ordinary into Wow!
Thinking of selling? Your decor needs updating? Want to give your home Star-Quality?
Follow these simple and practical steps to glamorize your home so it will sell quickly and for more money.
WATCH LYNN’S VIDEO.
Small Changes = Big Returns
Buyers often look at 10-20 homes before purchasing. It is important that your home stands out from the competition and creates an irresistible first impression.
Studies show that staged homes sell twice as fast and for roughly 10% more. Based on the average GTA home price of $685,000., staging can add $68,0000. to your bottom line!
Sellers can reap rewards from learning some professional tricks to increase value and reduce time on the market. Home-staging does not have to be expensive. Just a few hundred dollars invested in cleaning, repairing and de-cluttering can work wonders. Remember, the cost of staging is rarely as much as the cost of your first price reduction.
Home-staging is the lipstick and mascara which can transform ordinary into WOW! Keep it neutral, keep it simple. Some people like pistachio ice cream. More people like vanilla!
See the dramatic transition in this condo I staged:
NEW TECHNOLOGY TRENDS
Virtual Staging and Decorating
Compare these photos. Presto! A miraculous transition!
The top photo was an empty room in one of my new listings. It was entirely trasformed with computer wizardry!
Want to re-decorate your home or prepare it for sale?
Thanks to computers, there is no need to shop 'til you drop, slug around heavy furniture, or spend a fortune experimenting.
Virtual Staging is magic! I am one of the few, if not the only Realtor, that includes Virtual Staging as part of my listing package. Call me for details.
BEFORE VIRTUAL STAGING
AFTER VIRTUAL STAGING
FIVE THINGS BUYERS WANT IN A HOME: How does your home rate?
When preparing your home for the market, it is important to understand exactly what buyers want in terms of decor, design, architecture and special features.
You can then stage your home to match buyers'
expectations and highlight your home's best features.
Studies indiciate that today's home purchasers have five key priorities on their shopping lists.: Open Concept, Modern Designer Kitchen, Spa Baths, Home Office and a Garden Oasis.
Watch Lynn's Video to see what most buyers want.and score your home out of 5. If your home does not have these features, you need staging.
WHEN IS THE BEST TIME TO SELL?
Truth is, just about anytime is a good time to sell in a hot market. There are are thousands of transactions each month in the GTA, all year long.
But statistics indicate that Spring is the prime time to list your property. This graph clearly shows the spurt in sales starting in April.
It is a good idea to start a few weeks in advance of listings to prepare your home for market.
Also, it would be helpful, before you list, to familiarize yourself with the content of the standard MLS agreement so that you understand what you are signing.
There is a copy of this listing form, along with other important legal documents on my website should you need it.
THE UPSIDE OF DOWNSIZING:
Less House, More Freedom! More Cash!
As Baby Boomers transition into retirement, more homeowners are contemplating smart-sizing.
Seems like only yesterday you moved into your family home.
Fast foward to today.
Is your home too big? Does it take too much time and money to maintain? Are you now dreaming of a simpler, care-free lifestyle?
It might be time to change your destiny and cash-in the equity in your home.
Check out this Globe and Mail article that describes how today's hot real estate market is a blessing to downsizers in Toronto and Vancouver. But, Albertans and home owners in small towns across Canada, are not so lucky.
In today's sizzling-hot Seller's Market, it is tempting to consider right-sizing now to capture gains. Should you strike while the iron is hot, or wait and risk losing market momentum? That is the question!
TIPS FOR SELLERS:
Beware of Extra Selling Costs
A lot is written about hidden closing costs when buying real estate, but often sellers are unaware of the additional costs associated with disposing of real estate. Here is a brief summary of some key costs:
1. LEGAL COSTS Depending on the complexity of the transactions, legal fees generally range from $750.00-$3000. plus disbursements. Ask your lawyer for a detailed written quotation in advance.
2. REAL ESTATE COMMISSIONS Realtor fees are often negotiable, depending on the services provided. For a full-service transaction, the total fee is typically 5% + HST, distributed 2.5% to the listing Brokerage and 2.5% to the selling Brokerage. If there is only one Brokerage involved and only one Realtor, the commission may be reduced.
All agreements regarding real estate commissions and adjustments must be in writing.
Note, an additional tax of 13% applies to all realty and legal fees.
3. HOME INSPECTIONS Cost for a professional report range from $200-$600 and STATUS CERTIFICATES required when selling a condominium, cost between $100-$125. It is recommended that these important documents be obtained by the vendor prior to listing.
4. STAGING, REPAIRS, CLEANING, DISPOSAL These are discretionary expenses and will vary from a few hundred dollars to thousands. A general rule is that the amount spent on home-staging prior to selling should be approximately 1% of the of the market value of the home. Ask your Realtor's advice.
5. ADJUSTMENTS. These are the amounts due on closing that may be in arrears, (taxes, condo fees, utilities) and are taken from the sale proceeds.
6. MORTGAGE PENALTIES AND DISCHARGE FEES These amounts can be thousands of dollars, especially if you are breaking a closed mortgage. Always verify these charges in advance with your lending institutiion. Sometimes you can negotiate a discount on discharge fees if you are porting the mortgage to your new property.
7. MOVING COSTS This expense varies depending on services, time and distances involved. Get several quotes, but most moves cost between $2000-$5000. Also, condos often charge elevator and security fees when moving out which may be non-refundable. All theses costs add up to significant expenditures. Be prepared.
HOW TO PICK A REALTOR
10-point check-list to help you decide:
The right agent should be studiously informed about your market conditions, community dynamics, past sales in the area and types of buyers. Their encyclopedic knowledge should be local, not general. Expertise is paramount.
It is best to choose a recognized realtor in your community with an established track record of success, integrity and professionalism. Ask for testimonials and references.
A good realtor must communicate unequivocally and tell you things you may not want to hear, especially about pricing and the condition of your home.
4. STAGING SKILLS:
Look for an agent who can advise you how to improve economically your home's content, condition and appearance to increase value and accelerate the sale.
5. MARKETING SAVVY:
The best realtor for the job has a detailed, multi-level plan to expose your home to the widest number of buyers. Ask for a written copy of an agent's marketing plan.
A pro-agent should have an extensive network of legal, financial, appraisal, staging and home improvement experts that they can share with sellers.
7. NEGOTATING SKILLS:
The right realtor must understand the psychology of non-adversarial, collaborative bargaining and use win-win models of conflict resolution.
A good realtor really listens and understands your needs, preferences and priorities. They are pro-active in preventing problems before they happen.
9. PERSONAL DEDICATION:
The right realtor is “hands-on” and does not delegate important jobs to junior assistants or team members. They are constantly in touch.
A good realtor will most often adjust fees to reasonably reflect effort and costs. If a quick and easy sale is anticipated, with few extra marketing costs and limited time invested, commissions may be reduced. In terms of professional services, you generally get what you pay for.
WHAT'S HAPPENING IN THE MARKET? LATEST SALES FIGURES:
Record Sales in February 2016
Real estate sales jumped an astonishing 21.1% compared with February of last year. There is fierce competition for scarce inventory, especially for detatched single family homes in prime areas.
According to the Toronto Real Estate Board's latest report, the average home price in the GTA has sky-rocketed to $685,278., up 14.9% over last year!
The condo market, while still strong, is not experienicing the same buying frenzy and multiple offers that detached homes attract. Why? The Law of Supply and Demand. There is a surplus of condominiums available and a dramatic scarcity of detached homes for sale.
Some pundits say there we are in a artificial bubble, but if this record-breaking pace continues, it looks like 2016 will be an exciting ftime for sellers, but misery for buyers!
LYNN'S FEATURED LISTINGS:
Trophy 3 Bedroom Condo
80 Marine Parade Drive, Suite 419
Absolutely stunning, one of a kind executive condo in a new luxury waterfront building.
Rare 3-bedroom, 2 baths, 2 parking. Spectactular water views from every room!
59 Annie Craig Drive, Suite 102
Very special Mini-Townhouse just steps to the lake! Posh 5-Star new building, built buy the same developer as the Ritz downtown!
Perfect for first-time buyer, empty-nester and pet-owner!
TOP BUILDING - TOP FLOOR
Magnificent 3000 square foot Penthouse in an iconic waterfront building!
(Price and Details Subject to Change.)
NOW LISTED ON MLS
KING'S LANDING, 480 Queen's Quay W., PH1201
The Lighter Side
Future Facebook Posting:
Attractive, rich realtor seeking attractive,
rich gentleman with condo. Please send picture of condo.
Lynn Tribbling Updated her profile
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Sales Representative, Right at Home Realty Brokerage
DIRECT: 416 252-2221 OFFICE: 416 391-3232