In This Edition
MarketTemperature: Total Listings Low
HomeAdvisor: Used Trampolines are Hard to Sell!
HomeMaintenance: Learn How To Do These 5 Things
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Market Snapshot: Are you getting a FREE monthly Market SnapShot of your neighbourhood? They contain valuable information about real estate in your area. I provide them for your neighbourhood at my website, www.calgarypropertyprice.ca Empower yourself with knowledge and tell your friends about this free service.
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If you own a home or you are thinking of owning a home, you are on the property ladder. As you move up or down the ladder you will need advice and that’s where I come in. As your REALTOR® you have my real estate experience, loyalty, honesty and my commitment to helping you make the right real estate decisions. Call me for advice before you decide to buy or sell a home.
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MarketTemperature
Sales continue to be high in spite of the low number of listings on the market
Total sales for January were 1,230 units, a significant increase over the 1,068 units last year. But sales remain well below January levels recorded through the peak years of 2003 – 2008. “While activity is typically slower in the winter months, recent improvements in single family new listings helped support improved sales in that market,” said CREB® President Becky Walters. “Overall indicators put the market in balanced conditions.” Single family sales totaled 879 units in January, a 15 per cent increase over January 2012 levels. New listings remained just above levels recorded at the same time in 2012, for a total of 1,737. The slight improvement in listings helped support sales growth, although inventory levels remain down by double digits. This lower inventory is affecting the overall attitude of buyers in the market. As spring approaches and selection improves I believe we will see a significant jump in the number of sales as a result of increased listings.
There is currently some slight upward pressure on home prices given the current market situation and that upward pressure is expected to level off as we approach the more active selling months.

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HomeAdvisor
Used Trampolines are Hard to Sell!
Spring is near and thoughts of listing your home for the coming selling season may be dominating your day. If you are considering putting your house on the market within the next few months, now is the time to begin preparing. In order to get the best price in the shortest amount of time you must take care of the details to prepare your house for sale. If you want some advice I would certainly be willing to do a walkthrough of your home and discuss some ideas to improve the price.
As I have said many times over in this monthly newsletter, stats show that 87% of all buyers want a move-in ready home. In order to get top dollar in a reasonable time on market, make your home move in ready. If you are thinking “I’m just going to leave it this way and the new owner can fix it up the way they want”. I caution you against this. If you are of this mind, there are two things you must do to sell your house:
1. Expect a lower price because buyers will see work and cost. That translates to a lower offer
2. Expect to be on the market a longer time. Homes on the market longer get stigmatized.
Remember that 87% of buyers want move-in ready homes. If you’re not selling a move-in ready home, you are only selling to 13% of the market. That means for every 10 people who come through your home, less than 2 will be interested in taking on a reno project and the chances that your home fits with what that one person is looking for is slim.
What does move in ready mean? Depending on the standards for the community you are in, it can mean any or all following:
1. Your house is clean and free of clutter to allow the buyers to picture themselves and their things in your house.
2. If flooring is worn, consider replacing it with new flooring, If you have scratched or dulled hardwood, consider getting it professionally refinished. The cost of replacing flooring is one of the main concerns with my buyers and most would rather not do it.
3. Paint your house. This is perhaps the best return, dollar for dollar, you can get for work on your house. Modern neutral colours can make a great difference in how a home shows. Again, as I have said many times in this newsletter, If you can’t do a professional grade job yourself, get it done professionally.
4. Lighting, doors and trim are also some changes you can make to modernize your home
5. Kitchens and baths are the big ticket upgrades in a home. The problem with renovating them just before you sell is that it is rare that you would get the full cost of the renovation back in the sale. It will help your house sell faster and for a higher price. This is a great case for keeping your home up to date while you are living in it. If you are going to renovate kitchens and baths, do it while you can enjoy it so you get some value out before you sell. That being said, a fresh coat of paint and or modern hardware can change the look of a kitchen and a new countertop can freshen the look.
One of the worst things you can do is renovate without the skill or knowledge of what you are doing. If you want to do renovations yourself, take the time to consult with an expert to make sure your work is professional grade. I have seen more than one case where bad DIY projects have cost the seller money. When a buyer looks at bad DIY, the see work and additional cost.
One of the Real Estate Gurus I follow says “The market is cruel, but the market is never wrong”! In order to sell your home fast for the best price you have to give people what they are looking for. If you try to fight the market, your house will become a trampoline. That’s the house buyers bounce off of on their way to the one they buy. Used trampolines are hard to sell.
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HomeMaintenance
Last month we talked about 10 things you can do to save energy in your home. If you missed it, check past blogs on my website at www.jimperks.ca This month my maintenance list includes 5 home repairs you should learn to do yourself. Learning these can save you time, frustration and, in the long run, money on repairs.
1. Painting: Sprucing up your rooms with paint is one of the best ways to show your home at its best. When it’s done well, painting can increase the value of your home and add some style. When the job is not done well, it’s almost as bad as leaving cracked and peeling paint on the walls.
2. Door maintenance: Wear and tear plus seasonal changes can cause doors to stick or not close properly. Learning to maintain them can save you a lot of frustration.
3. Applying Calk: Caulk is the rubbery stuff between your tub, shower or sink and the wall, or between your toilet’s outer rim and the floor. It creates a seal that protects floors and walls from moisture. It also glues itself in place, which makes applying it easy. Over time it will discolor or deteriorate, leaving your home vulnerable to water damage and mold growth.
4. Fix a leaky faucet: never mind the cost of water lost through a dripping tap, with acrylic and cultured marble basins and tubs, fixing that leaky tap will save you hundreds of dollars in replacing bathroom fixtures.
5. Unplugging a clogged toilet: With the cost of a plumber just to cross the threshold of your door, it makes sense to have a plunger on hand to take care of the clogs. Be brave and get the job done yourself.
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I hope you enjoyed this edition of The Property Ladder News. As always, your comments and feedback are welcome. If you have any questions about real estate or there is a topic you would like me to cover here in The Property Ladder News, let me know.
Jim Perks
The Property Ladder Guy
403 660 6239