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Changing Real Estate Market

The real estate market has changed. Over the past few years as a seller, you’ve experienced a fantastic seller’s market. It wasn’t uncommon for properties to have back-to-back showings, multiple offers and sell significantly over the asking price

With that comes the belief that the market will never slow down. What ends up happening is two things; 1) that people start to pull back more than they should and miss opportunities because they try to time the market ,or 2) they will overextend themselves and purchase a property that is too expensive for them or one they don’t love. As we come into a more balanced market, here are three tips to help you on your real estate journey:

1. Know your numbers – It’s not good enough to say the house down the street sold for X amount two months ago. When you see the house, look at the condition, features and updates to decide where your home should fall on that line as an informed buyer or seller. In an adjusting market, you have to understand how much the market went up or down, and you need to adjust comparable sales with what is happening by today’s standards. From there, come up with a value range. Several tools are available to do this, including looking at comparable sales on the MLS system, tax records, market updates and statistics to come up with a clear picture of what’s happening in the area.

2. Not all neighbourhoods are created equally – When we are in a hot market, you’ll notice that almost every house starts to go up in price, whether it’s the beautifully renovated home or the house falling apart. When the market gets hot, buyers begin to think, “if I don’t buy now, there’s never going to be a home in the future.” They’re also competing to try and get in before they are priced out of the market. However, the opposite happens in a slower market. The premium neighbourhoods still hold their value, while the properties in less desirable areas tend to slow down and return to a baseline price. When you’re doing your search, it’s essential to understand the factors of the neighbourhood. Consider how the house looks, the neighbourhood’s future development potential and what has gone on in the past. If you are a seller, you need to put in the effort to properly present, market and stage your home to attract the most showings.

3. Negotiation – Negotiation is one of the essential factors in getting what you want. Over the last few years, and especially since COVID hit, we have seen the majority of houses sell for over list price, with little to no conditions set. It was not a healthy market. Buyers had to offer prices at their maximum budget when the house may not have warranted it, and sellers who were selling high were also buying their next property at an elevated price. A few other factors to consider with an offer are the conditions surrounding the sale of the property. It can include the closing date, finance approval and home inspection. Meeting somewhere in the middle is where the negotiation comes in. As the market has readjusted, getting what you want comes with some work. The goal is for a win-win situation for both parties.

Working with a real estate agent can help alleviate the stress of this work. Let’s set up a meeting!

 
 
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Backyard Movie Night

The summer is halfway through, and the kids are looking for something new to do. How about a movie under the stars? Turn your backyard into a movie lover’s oasis with these six easy steps. Guaranteed this will be an activity that you will want to do again and again

1. Invest in a portable projector. Amazon has some great options starting at only $60!

2. Build a DIY projector screen with this easy how to tutorial from HGTV It doesn’t require any power tools and is a great way to get the kids involved in the setup!
Fun tip: have the kids paint the planters before putting the cement in for a personal touch.

3. These printable movie tickets are sure to get everyone excited. Save the image to your computer and then email them out to your friends and family so that the experience starts right at the gate.

4. Seating scavenger hunt. Get the kids involved in a seating scavenger hunt. Have them scour the house for lawn chairs, pillows, blankets, pool floaties or anything else they can think of that will make a great place to cozy-up.

5. Snacks and drinks are a must for any backyard movie night. To make it easier to get everything ready, pick out some yummy finger foods that you can set out on a table, so people don’t have to get up during the movie. Retro popcorn boxes give movie-goers an authentic feel. They can be purchased at the dollar store, Walmart or even Amazon.

6. Struggling with what movie to watch? Let the fates decide with this free, printable movie picker. There are two options; one with fillable spaces for you and your family to complete or download the version with pre-loaded options.

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Selling a Property in Winter

Toronto, it’s time to face it – winter is well and truly here. The leaves have given up their shaky grip on brittle branches, the birds have fled for sunnier climes, and the snow is beginning to gather and crunch underfoot. It’s the most wonderful time of the year, isn’t it?

The long season between autumn and spring poses its own unique set of challenges, especially when it comes to real estate. If you’re considering selling your home, it’s easy to think that spring is the only time to list, and there are indeed different things to take into consideration on these colder, shorter days – but selling in winter can actually be a much better experience than you would assume!

There’s no need to fear if life doesn’t follow a schedule and you have to sell in the winter – the key is to make a positive first impression that will be hard to forget! With a few simple tips, you can maximize your selling potential in the winter:

Don’t let winter be an obstacle – literally.

So there’s snow on the ground, and you have a showing – great! The good news is that if they’re looking to buy right now, they must be serious and motivated buyers, so you’re off to a good start.

To ensure you don’t lose them before they’ve even made it through the door, take a moment to make sure that winter itself won’t be a physical obstacle – make sure you have your walkway shovelled and salted (nothing worse than having the buyers climb over snowbanks!)
and make sure the lockbox is in an easy-to-reach place and not frozen shut.

Take the opportunity to show off your home’s entryway functionality.

Winter means gear, from hats to coats to boots and more. When buyers wear all their winter layers, there’s never a better time to show off how your entryway works! Before showing, ensure you have empty hooks and space for coats, boots, and scarves. Allow buyers to imagine shedding their layers in your entryway – soon to be theirs – after every long winter’s day.

Make it bright.

Days are shorter at this time of year, so I recommend having all the lights on in the house. If it’s an evening show, have the exterior lights on.

Have a fireplace? Turn it on! It makes for a great focal point and cozy atmosphere. But remember – don’t light candles or a fire and leave home unattended. You never know what can happen!

Think beyond the visual.

Some of the best parts of winter are the scents – think back to your favourite holiday memories and you’ll know what I mean. Especially at this time of year, remember that it’s not just about visually engaging potential buyers!

When preparing for a winter showing, think about inviting natural smells – put a pot of coffee on, or simmer some apple juice with a cinnamon stick to invoke a warm, homey feeling. Avoid artificial sprays and scented candles, though – natural scents are best!

Though it may seem daunting to list your home in the winter, it can be done. With these easy tips, you’ll be able to maximize your winter showings and get back to building snowmen (and, let’s be honest, praying for spring to arrive).

For more real estate and home ownership tips, find The Anna Oliver Group on YouTube.

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Un-Orthodox Real Estate

Whether you check your horoscope every day, meditate, believe in a higher power, or don’t generally give it much thought, with the changing of the leaves (and let’s be honest, the appearance of jack-o-lanterns on neighbourhood steps) seems to come something of a rapprochement with the spiritual world.

On the other hand, the real estate world can seem pretty cut-and-dried. When you’re dealing with numbers and square footage and paint colours daily, you feel as far from the supernatural as you can get.

It may surprise you to know that many buyers and sellers, and even their agents, use what might be considered ‘unorthodox’ methods to try and make the right sale. Beyond installing new appliances or redoing the landscaping, many people do, in fact, turn to the spiritual and the supernatural to get a home ready to put on the market – or in hopes that it will sell faster. In my thirteen years in real estate, I have seen it all.

Perhaps one of the best-known practices is the burial of a Saint Joseph statue. Joseph, husband to Mary and stepfather to Jesus, has long been associated with the home, and it’s said that if you bury his statue on your property (exact location and instructions vary depending on who you talk to), your house will definitely sell. I don’t think any scientific studies have been done to prove or disprove it, but it worked for my sister in 2005, anyway!

If Catholic saints aren’t your thing, maybe you’re more interested in Eastern philosophies. Many stagers and homeowners swear by the art of Feng Shui in preparing a home for sale – a quick Google search will give you lists of tips and even links to Realtors who specialize in it. It’s hard to argue with wanting each room to have a good energy flow when potential buyers walk into it.

Speaking of the buyer’s experience in a room, many people believe that colours themselves have spiritual meaning and energy. There’s certainly a psychological justification to this – consider how colours are used in packaging and advertising to encourage buying behaviours – but maybe there’s a more profound spiritual truth to it. Perhaps it’s time to shop for new accessories in specific colours if the energy seems a bit off, even with the help of Feng Shui.

If none of those are quite doing it for you, a bit of a crossover between the by-the-numbers real estate world and the supernatural might be your thing: numerology. From simple things like not listing on Friday the 13th to more involved practices like finding out what specific numbers represent before setting your listing price, there might be something to consider in the numbers you associate with your home when you put it on the market.

Of course, I can’t personally vouch for any of these practices, but when a home won’t sell – or you’re keen to start a sale off on the best foot possible – it can’t hurt to call in a little extra help, can it? It might be something to meditate on, anyway

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