When is the best time to meet with a REALTOR® like me? Chances are,
you would say, “When I’m thinking of buying or selling a home.” You’d be
right, of course!
However, there are many other good reasons to meet with me. Here are just
a few:
• You want a professional opinion as to the current value of your
property, so you know what it would likely sell for in today’s market.
• You notice a home listed for sale in a desirable neighbourhood, and
you’re interested in learning more — even if you’re unsure you want
to make a move.
• You’re thinking of moving within the next couple of years, and you
want to find a REALTOR® like me, that you can get to know and
trust.
• You want some recommendations for preparing your home for sale
and especially determining what repairs and other work needs to be
done.
• You want an honest assessment as to the state of the local market,
and the best time for you to buy or sell.
• You have real estate-related questions and you want to talk to an
expert who knows the local market well and can provide you with
answers.
As you can see, there’s a lot of value you can get from talking to me as your
REALTOR®. Call today.

When you’re thinking of selling your home and buying another, you face the
inevitable question: Should I list my property first or buy my new home first?
Let’s take a look at both options.
If you attempt to buy a property before listing your home, you run into a
couple of challenges.
First, sellers may not take you seriously as a potential buyer. After all, you
haven’t put your own home up for sale. As far as they’re concerned, you
might merely be testing the market.
Second, your property might not sell as quickly as you thought it would. If
there is an early closing date on the home you purchased, you might end up
owning, and paying a mortgage on both properties, at least until your home
sells.
If, on the other hand, you list your property before buying a new home,
sellers will know you’re serious. That puts you in a competitive position in
the event of multiple offers.
Also, if your home sells quickly, you’ll have the peace-of-mind of knowing
exactly how much of a new home you can afford. You’ll be able to shop with
confidence.
Of course, like the first option, there is a chance that the closing dates won’t
match and you’ll end up owning two properties for a period of time.
However, solutions such as bridge financing are available to help.
So, there is no perfect answer. A lot depends on the state of the local
market.
Looking for a good REALTOR® who can help you decide which is the best
move for you? Call today.

Sometimes we don’t have much choice about selling our home and buying
another. Circumstances, such as a job relocation, may have made that
choice for us, However;  most often the decision to move is discretionary.

Sometimes people move simply because they think it’s a good idea. They feel that
“now” is the right time to find their next dream home.

So how do you make that kind of decision?

There are, of course, many reasons to make a discretionary move. Usually,
those reasons fall into one of two categories: need and want.
You may need to find a new home, for example, because you’ve outgrown
your current property. Perhaps you have a growing family and require more
space. Maybe you’re doing more entertaining and need a larger backyard
with a more spacious deck. It could be that the commute to work is arduous
and you need to move to a place that’s closer.

Those “needs” may motivate you to move, but sometimes a “want” plays an
important role, too. For example, you may want to live in a quieter neighbourhood or in a newly
built home that requires less maintenance. Maybe you simply want a
change.

If you’re thinking of making a move, take a moment to write down a list of
your needs and wants. Seeing them on paper will help make the decision
easier.
Looking for expert help? Call today.

Have you ever driven up to a restaurant and your first impression was
disappointing? Perhaps the windows looked dark and gloomy, the façade
was worn and unattractive or for some other reason it just didn’t look like a
tempting place to eat.
It could still be a fantastic restaurant – a real gem. But, your first impression
has soured your anticipation. If you still walk through the front door, it will
likely be with the expectation of being disappointed.
This scenario often plays out in the real estate market as well.
A buyer drives up to a home for sale and quickly forms an impression based
on what he sees “from the curb”. That’s why you’ll hear real estate experts
talk about the importance of “curb appeal”. It’s one of the most important
selling points of a property.
If you plan to put your home on the market, you obviously want your home
to look as attractive as possible from the street. Fortunately, there are many
simple things you can do to improve curb appeal.
For example, you can trim shrubs and hedges, plant flowers, clean the
walkway and driveway, paint the front door and garage door, and clean the
exteriors of the windows. All these projects are relatively easy and
inexpensive. Yet, each can make a dramatic improvement to how your
home looks at first glance.
Don’t be like the great restaurant that’s hidden behind an unkept façade.
Make sure your curb appeal reflects the overall value of your property.
Looking for more advice on selling your home quickly and for the best price?
Call today.

For the typical owner in today’s real estate market, the next step up on the property ladder is about a 50% increase in value. This number holds true for most couples in North America. For example, a move from a $200,000 home to a $300,000 home is a typical value increase. The step up is a change of $100,000, or 50% of the value of the first home. From there, the next step up may be to a $450,000 home and then maybe to a $650,000 to $700,000 home or more.

There are three main influences that facilitate stepping up to the next rung on the property ladder and three motivations that can put pressure on families to increase the size of their home. Facilitators are those factors that provide the financial capability for the move up and motivators are factors that encourage the move.

The first facilitator is increases in salary due to an advancing career. Having more disposable income gives the owners an opportunity to buy a larger home or a home in a higher valued location. The second facilitator is the increase in home equity with the relative change in market value due to inflation. Although this factor has been significant in the past few years in Canada, we will probably see home equity increase at a slower, more normalized pace in the foreseeable future. The third facilitator is the increase in equity due to mortgage reduction over time. As the owner pays down the mortgage amount, the relative equity in the home increases.

It is logical to assume that these three facilitators will converge to create a positive buying situation at a point of about 25% of the value in the move up home, as this would be the required amount for a down payment to step up the property ladder. Unless there is this convergence, the move up is not likely. Of course there are unknowns, such as inheritance and windfalls that can facilitate a move as well.

Motivators are the factors that trigger the desire to make the move up the property ladder. The first motivator acting on the majority of families is the need to increase living space due to a growing family. In most cases, the first move up the property ladder is motivated by the growing size of a family. The second move is motivated by the aging of family members and their need for more personal space.Teenagers need more room and they need privacy…so do the parents!

The third motivator is less obvious and it involves the desire to simplify living arrangements because the children have moved into their own homes. This move is often into what is called the “Jewel Box” home. It is fewer square feet than the previous home, but it is finished to a very high standard. Hardwood, granite, high end cabinetry and finishing throughout the home are typical of the jewel box. Although this move may not be an increase in value and equity may be recouped from this move, it is considered the last rung at the top of the property ladder.

From personal relationships to job transfers, there are many other reasons to move and many different motivators. The property ladder is just one reason owners look to change their living situation. It is a normal process that most Canadian families go through. Moving up the property ladder should be a positive experience and bring the buyer satisfaction in knowing they have made the right decision about their new home. For many Canadians, their home is their biggest investment.

Contact me if you are thinking about making a move up. I can provide you with the real estate services you need to make a successful transition from you existing home to your next home on your way up the property ladder.

Jim Perks