Archive for March, 2017

Do I need a Real Property Report to sell my home?

Friday, March 31st, 2017

If you live in Alberta the answer is yes if you own a detached home, an attached home or a Bare land Condominium you will need a Real Property Report with compliance. If you own a conventional Condo then you do not need a Real Property Report.

What is a Real Property Report?

A Real Property Report is a legal document that clearly illustrates the locations of significant visible improvements relative to the property boundaries.   It is a land survey that shows where the buildings are located and it shows the property lines.  A Real Property report will show if there are any encroachments onto City of Calgary property or your neighbour’s property.  The survey must be completed by an Alberta Land Surveyor. An Example of a Real Property Report

Real Property Report Sample

Real Property Report Sample

Compliance

Once you have your Real Property Report completed you then have to take it to the City of Calgary and have them review it.  They look for encroachments, setbacks being met and many other problems.  If it meets all of the City’s criteria they will give you (for a fee) a stamp of compliance.

I do not know of one lawyer in Calgary that will close a Real Estate sale without a current Real Property Report.  When you are signing the papers at the lawyers you will be required to sign a document stating that the Real Property Report reflects the current state of the property.

Sometimes the mortgage lender will ask for a land survey, especially if your property is older and hasn’t changed hands in many years. You might also be asked for one by the buyer if there is any confusion about the size and boundaries of your property – or if significant changes have been made to it in recent years.

This is nothing to be concerned about. Property Surveyors are highly trained and licensed. In Canada, Professional Surveyors Canada (PSC) represents the profession nationally, and most provinces have their own professional associations. 

Before getting a new land survey, make sure you don’t already have one. Hopefully, you’ve stored the paperwork that relates to the purchase of your home. Look through it. A valid land survey might be right there. 

It is smart to get your Real Property Report with compliance before your home hits the market. This allows time to correct and issues that may arise getting compliance from the City.

If you have questions about land surveys, call today.

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Should I Worry About Moisture on Windows?

Friday, March 24th, 2017

You’re standing by your window admiring the view. Then you notice it. Moisture has built-up around the edges of the glass. Should you worry?

 It all depends on the reason for the buildup.  Assuming you have traditional double-pane glass in your windows, there are a few things to look for if you notice moisture.  Often, moisture at the bottom of the windows is simply caused by too much humidity in your indoor air. If that’s the case, simply adjust your humidifier.

If the moisture is on the exterior of the window, typically there’s also no problem with the window itself. It may have rained recently or the outside humidity may have spiked causing the accumulation. Generally, there’s no reason for concern.

However, if the moisture is in between the two panes of glass, the seal has broken and surrounding air – along with its water content – has made its way in. This disrupts the thermal barrier of the window, reducing its energy efficiency. In fact, the glass might feel noticeably colder than your other windows on chilly days. In that case, you’ll need to replace the pane.

 Similarly, if the moisture is coming in through only one spot — the bottom right corner, for example — then you might have a leak. If you have a wood frame or sill, you may also notice a growing water stain. It’s important to get leaks fixed quickly. There may be water damage occurring within the frame that you cannot see.

 

 

 

 

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Selling a Home in a Crowded Market

Friday, March 17th, 2017

When you’re about to sell your home, it may be disheartening to see so many other properties for sale in your neighbourhood. You may be thinking, “That’s a lot of competition! Will our property get noticed?”

 Fortunately, there are many proven strategies for standing out in a sea of For Sale signs.

First of all, keep in mind that many home purchasers come from the REALTOR’S personal network of buyers who want to move into your area. So, choosing the right REALTOR® is crucial.

Second, remember that when there are other properties for sale on your street, curb appeal becomes even more important. There are many simple things you can do to make your property look great to those driving around looking at homes. Make sure your property looks as picture perfect as possible.

In a competitive market, it’s also more important than ever to highlight features of your home that are unique and enticing. If, for example, you have a large backyard deck and brand new hardwood flooring, make sure these are mentioned prominently on the feature sheet.

Finally, be as flexible as you can be when scheduling viewings and open houses. Don’t forget that other listed properties in your neighbourhood draw in buyers, who may notice your home. It’s not uncommon for a buyer to view a property and then scout the neighborhood. So, you want buyers to be able to see your home on short notice and at a convenient time for them. If there are several other nearby properties for sale, it means things are hot from a real estate point of view. You want to roll out the red carpet to buyers.

Looking for help selling your Calgary home quickly and for the best price? Call today!

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Will an Open House Help Sell your Home?

Friday, March 10th, 2017

You’ve probably seen signs around the area for Open Houses. You may have even attended a few. These are open invitations for potential buyers to drop by on a certain day and time, to check out the property and get more information. When you’re listing your home for sale, you might wonder whether you’ll need to have an Open House.

To answer that question, you’ll need to consider the pros and cons. Planning and hosting an open house isn’t as easy as it may seem. There’s a lot of preparation involved. In addition, you’ll likely spend hours making your property look its best and you’ll need to be away from your home for a good part of that day.

That being said, an Open House has many advantages.

  • Open houses used to be advertised only by Realtor signs and attracted nosy neighbours but the world has changed. In Calgary open houses can now be advertised through our Realtor system and will get uploaded to Realtor.ca
  • Typically I find about 80% of my open house traffic saw the listing on Realtor.ca and came specifically to view that home.
  • It is important to note that open houses typically cater to the people who are in the beginning stages of their search and have not yet hired an agent to represent them.  If they are wowed by your home this often speeds up their buying timeline.
  • It helps showcase features of your property that may not come across well in advertisements and listing descriptions.
  • It attracts potential buyers who, for any number of reasons, might not otherwise call to view the home.
  • It generates a buzz and publicity about your listing.

When I get asked this question my answer is “Don’t know if it will help it sell your home but it certainly cannot hurt.  Having said that the final decision is always left up to the client.

PS: As I write this I can also tell you that last weekend I sold a home where the buyer was introduced to the home at an open house so it can work!

For more info on Open Houses contact us

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Important Things to “Fix Up” before Selling

Friday, March 10th, 2017

Why is this critical?

Home buyers do not typically know anything about repair costs so they pull a number out of the air making sure that number is high enough – their estimate is always high and usually extremely high.  An Example, and I see this everyday is – the carpet in your living room is badly worn, cost to replace might be $2000.00, many buyers will use a number like $10,000 and will deduct that from your list price. So it’s your choice invest $2000 up front for lose $10,000 off the sales price.

When you’re preparing your Calgary home for sale, it’s not unusual to need to fix up a few things around the property. After all, you want your home to look its best to buyers, so that you get good offers, quickly. The longer your home sits on the market the less it will sell for.

What do you need to fix?

Here are three categories that will help you create and prioritize your list

Anything that squeaks or creaks – Is there something in your home that makes a noise it shouldn’t be making? Perhaps it’s a rattling closet door or a creaking floor board? You may be so used to it you no longer notice the sound. But buyers will. Be sure to get those items fixed.

Anything that’s unsightly- You don’t have to make your home look perfect. However, things that are unsightly will likely get buyers’ attention. You want them to focus on the terrific features of your property, not the scuff on the wall.  Take a walk through your property, including the yard. Pretend you’re the buyer. Do you notice anything that doesn’t look good? If so, tidy it up, fix it up or replace it.

Anything that’s broken-  If there’s anything that needs repair — an outside tap that’s not working, or a sliding door that regularly careens off its runner — call the contractor or fix it yourself.

Getting these items fixed will go a long way toward making your home appealing to buyers.

If you are in need of some professional help we are happy to connect you with Calgary contractors our clients have been happy with. Contact us!

Want more tips on preparing your home for sale? Contact us today.

 

 

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119, 345 Rocky Vista Park NW Calgary Ab T3G 5K6

Tuesday, March 7th, 2017

Check out our new listing in the Pavilions at Rocky Ridge

MLS Listing C4103289

Price: Only $254,500

Stunning, renovated 2 bedroom, 2 bathroom Apartment Condo in the Statesman’s Pavilions at Rocky Ridge.  Layout is fantastic with the bedrooms on opposite sides.  Features new laminate flooring, fresh paint and more.  Kitchen offers plenty of cabinets, good counter space and a breakfast bar.  Living room features a corner gas fireplace and a door leading to your patio.  Master bedroom features an ensuite bath and walk in closet.  Unit offers in suite laundry and a separate storage room.  Amenities are plentiful and include including Salon, Spa, Gym, Movie Theatre, Games/Billiards Room, Outdoor Basketball and Beach Volleyball.  Located only minutes to the Tuscany LRT station.  Don’t forget the heated underground titled parking, Bike storage room, Walking trails and plenty of Visitor parking.  This home is move in ready!

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35, 4 Stonegate Drive NW Airdrie Ab. for sale

Friday, March 3rd, 2017

Welcome to this renovated Townhouse in the desirable Stonegate Crossing.

MLS # C4102567

Price: Only 245,000

Open House Sat & Sunday March 4 & 5 from 1:00 – 4:00

For more info or to view please contact us 

Welcome to Stonegate Crossing.  This bright, beautiful 3 bedroom townhouse has had many renovations and is move in ready.  Features fenced yard and 2 parking stalls in front of unit.   Main floor offers a fantastic layout and features new quality laminate flooring, living room, spacious dining area, kitchen and a 2 piece bath.  Upstairs you will find a large master bedroom, 2 additional bedrooms and a full bath.  Downstairs is already dry walled with a family room, bedroom, bath area with roughed in plumbing.  Yard is fenced and features a patio area.   Unit is located in the back corner of the complex where you get little traffic.  Located close to shopping, dining, parks and schools.  Pet Friendly complex. Excellent value.

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2036 38 Street SW Calgary for sale

Friday, March 3rd, 2017

Fantastic opportunity that does not come up very often.  A 1394 square foot bungalow in Glendale!

MLS Listing C4102615

Only $600,000

For more information or a viewing contact us

Open House Sat & Sun March 4th & 5 from 1-4.  Rare opportunity in Glendale.  Not often do you see a 1396 sq. ft. bungalow located across from a park on a beautiful street in the desired community of Glendale.  Upon entry you will be wowed with the newly refinished hardwood and fresh paint throughout.  Main floor features living room/ dining room, large kitchen that boasts new appliances, built in China Cabinet, a large island with granite and a spacious eating area.  Kitchen is open to sunken family room with wood fireplace.  Complete the main floor with 3 good sized bedrooms and the main bath.  Back entry features a large mud room with built-ins and leads to the basement that features large windows. Lower boasts a 3 piece bath, large family room, games room, bedroom and laundry room.  Outside you will find a large yard with shed and garage.  Only a 5 minute walk to LRT, Glendale elementary.  Close to shopping, Golf, schools, and of course downtown.

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March 1, 2017 Calgary Real Estate snapshot

Wednesday, March 1st, 2017

The Calgary Real Estate Market in changing.

Detached homes are now in a Seller’s market position

Semi-Detached homes are now into a balanced market position

Row (Townhouses) and Apartment condos are in a buyers market position but have moved drastically into a better market (towards balanced)

 

Absorption rate for the Calgary Real Estate market for February 2017.

Absorption rate for the Calgary Real Estate market for February 2017.

What is really happening in the Calgary Real Estate market?

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

Absorption Rate (Months of Inventory)   (the inventory divided by the number of sales in the last month). What does this mean you might ask?

Buyer’s Market >4.0 Drives prices down
Balanced Market Between 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

*** Absorption Rate***  

The absorption rate for all of Calgary decreased quite substantially this month.  Not a lot of listings going on market but more importantly a large increase in sales is driving this.  Detached homes have now gone into a Seller’s Market position,  Attached-Row & Apartment condos are still in a buyer’s market and Semi-detached is in a balanced market.

 

December   2016 January  2017 Change
Detached 3.17 2.41 -0.75
Semi Detached 4.61 3.44 -1.17
Attached – Row 4.73 4.41 -0.32
Apartment 8.40 5.88 -2.53
Total City 4.34 3.35 -0.99

 

Calgary Listing Inventory

February saw a slight increase in our inventory level in all categories.  This is a normal pattern for February as were approaching the spring market.  Normal trends would predict that over the next few months we will continue to see more listings so a further increase in inventory.

Inventory December   2016 January  2017 Change
Detached 1849 1990 141
Semi Detached 383 437 54
Attached – Row 610 679 69
Apartment 1269 1387 118
Total City 4112 4493 381

 

Calgary Sales:

Wow.  Every Category saw a large increase in sales in February.  The smallest increase was in Attached-row houses (townhouses) and they still increased over Jan by 19.38%   It is normal for us to see an increase in sales from Jan to Feb but this is a large increase which the Calgary Market has been waiting for, for some time.

 

Calgary Sales   December   2016 January  2017 Change % Change
Detached 584 825 241 41.27%
Semi Detached 83 127 44 53.01%
Attached – Row 129 154 25 19.38%
Apartment 151 236 85 56.29%
Total City 947 1342 395 41.71%

  

Calgary Real Estate Sales Prices: 

Prices are consistent with our Absorption rate with Detached and Semi Detached prices rising while Attached-Row houses and apartment condos decreased a little more as they are still in a buyer’s market position.   My predictions for the next few months is more of the same trends.

  Sales Prices December   2016 Benchmark Price  January  2017 Benchmark Price Change
Detached 500,400 501,900 1,500
Semi Detached 384,600 386,300 1,700
Attached – Row 307,100 305,900 -1,200
Apartment 269,900 269,200 -700
Total City 437,400 438,100 700

 

Sales Prices “Year to Date”   

 

Sales Prices Jan 1, 2017    Benchmark Price  January  2017 Benchmark Price Change

$

% Change
Detached 498,300 501,900 3,600 0.72%
Semi Detached 385,400 386,300 900 0.23%
Attached – Row 307,900 305,900 -2,000 -0.65%
Apartment 269,200 269,200 0 0.00%
Total City 435,400 438,100 2,700 0.62%

Price Sensitivity

**Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns.  This report does not include rural properties.  If you would like to find stats on your community just let me know.  If you have any questions about this summary or Real Estate questions please feel free to contact us.

 

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