Archive for the ‘Education’ Category

Sweat Equity

Wednesday, June 17th, 2015

sweat Equity

Should you go the DIY route to boost the value of your home? Is it all worth it?

“Sweat Equity” is a thought-provoking concept, but there are some things to consider if you are thinking of jumping in….

  • What are your abilities? I’m sure you are a rock star, but jumping into knocking out walls or putting down floor tiles with no previous experience may not be the best idea. Know your limits.
  • If you can’t do it right don’t do it at all, or you will see a negative effect on resale value
  • Do you have a realistic budget? When it comes to renovation budgets, it’s way better to overestimate than under. You will likely run into many unforeseen costs.
  • Don’t over renovate for the area you are in. If you put a lot of money into a property, surrounded by properties valued at much less, your value will not increase the way you want it to.
  • And lastly, you must ask yourself if you really want to live in a home that is under construction.

 

Sweat equity can be rewarding, but consider the consequences before you jump into such a massive project! More info at Gordpiper.com

May 2015 Market Snapshot

Monday, May 4th, 2015

Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows what’s really happening in the Calgary Real Estate Market. The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and the effect on the price of Calgary Real Estate. A simple way to keep up to date and ahead of most!
Below are the details along with a few comments, all numbers were taken from the Calgary Real Estate Boards Stats package for Realtors.
Want to see stats specific to your Community? Register for our Market Report at http://www.calgaryareasolds.com/
Find out what your Neighbor’s home sold for – Register for our Market Report at http://www.calgaryareasolds.com/

April saw a decrease in inventory and an increase in sales resulting in a stronger market. This puts us into a balanced market position overall. Detached and Attached homes are now in a sellers’ market position while apartment condos are in a balanced market position.

Calgary Listing Inventory: It is interesting to see that the inventory went down this month. This is partially due to not as many new listings hit the market and that sales increased. This is opposite of what I would normally expect for April.

Inventory  March  2015 April  2015 Change
Detached 3016 3024 +8
Attached 1258 1207 -51
Apartment 1419 1348 -71
Total City of Calgary 5693 5579 -114

Calgary Sales:
Sales in all categories increased this month. This is a normal trend where getting near the summer the sales increase.

Sales March  2015 April  2015    Change % Change
Detached 1061 1149 +88 +8.3%
Attached 387 458 +71 +18.3%
Apartment 299 350 +51 +17.0%
Total City of Calgary 1747 1957 +210 +12.0%

Calgary Real Estate Sales Prices:
Prices in all categories decreased marginally this month. The largest decrease is in the detached home category which is a little surprising as this is the category that is in the strongest market position. Based on the absorption rate below my prediction is that detached and attached homes will stay fairly stable while apartment condos should see decreases until our sales/inventory ratio balances out.

  Sales Prices March  2015 Benchmark Price  April  2015

Benchmark Price

Change
Detached 513,800 510,200 -3,600
Attached 354,800 353,300 -1,500
Apartment 293,300 291,300 -2,000
Total City of Calgary 454,300 451,600 -2,700

Sales Prices “Year to Date”
Year to date prices – All categories have decreased.

Sales Prices Dec 31, 2014   Benchmark Price  April  2015 Benchmark Price Change

$

% Change
Detached 518,600 510,200 -8,400 -1.6%
Attached 356,200 353,300 -2,900 -.8%
Apartment 300,400 291,300 -9,100 3.0%
Total City of Calgary 459,500 451,600 -7,900 -1.7%

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 2.8 to 4.0 Prices typically remain stable
Seller’s Market <2.8 Drives prices up

*** Absorption Rate:
The absorption rate decreased again for all categories. What this means is that the relation to sales over inventory decreased. This puts detached homes and attached homes into a seller’s market, while apartment condos have now moved from a buyer’s market to a balanced market.

Absorption Rate   March  2015 April  2015 Change
Detached 2.84 2.63 -.21
Attached 3.25 2.64 -.61
Apartment 4.75 3.85 -.9
Total City of Calgary 3.26 2.85 -.41

**Please note that these numbers do change on a community basis and more so for towns. If you would like to find stats on your community just let me know. If you have any questions about this summary, the attached stats package or any Real Estate questions please feel free to contact us.

If you know anyone else who might enjoy seeing our monthly summary please feel free to pass this on. Gord, Eric, Brent & Amy
TSW Real Estate Group

Questions to ask before hiring a Realtor

Friday, April 3rd, 2015

Vantage Points

Finding a Realtor may seem easy – sometimes it feels like if you throw a rock you’re going to hit at least one, remember that this is not a one size fits all proposition. You need to find a realtor who is not only knowledgeable and experienced but one that will work well with you and your family.

 In order to help you find that person we’ve come up with some important questions you should ask, before you sign a realtor.

How long have you been in the business? This is more than just how long have you been a realtor, other important questions are have you always sold real estate in this area? How many clients do you deal with? Are they full time or part time Realtors? What geographic areas and types of properties do you handle? Remember that neighborhood expertise is key, every neighborhood has different quirks in the market and it pays to hire someone who knows about it. Here in Calgary it’s fairly common to have a Realtor that works in Calgary, Airdrie, and, Okotoks but rare you will find someone claiming to be an expert in Calgary and say Brooks for example.

Do they specialize in certain types of properties? Maybe they are condo experts. A great follow up question would be what makes them an expert? It could be that a certain percentage of their business is in dealing with condos or they could have some advanced education specifically geared towards a certain type of property.

Be sure to ask about other expertise or experience as well. Maybe your Realtor was a property manager at one time – they may have more information on that apartment building you were looking into. If you are a first time home buyer you may want to look for someone who works with lots of first time home buyers and has the patience to explain every step of the process.

How will you communicate with me? Not being able to reach someone for a few hours could mean the difference between an accepted offer and a missed opportunity. Choose an agent who will respond to you quickly in the method of contact you prefer. Make sure that the agent you hire is going to be your main point of contact as well. Some busier real estate agents have assistants and other agents working for them and you may not have direct access to the agent you choose.

Can you share references? Make sure you take a look at reviews or references that the agent provides. It’s even better if you can speak to some of their past clients. Most real estate agents are happy to share this information but a quick internet search occasionally reveals some unpleasant surprises. Another great question to ask is how much of their business comes from referrals or repeat clients? It’s safe to assume that if people keep coming back then they must be doing their job correctly.

What will it cost me to sell this property? Ask for a breakdown of estimated closing costs. If you get someone who is charging less are you getting them for less commission or reduced services? How many websites will the agent be listing your house on? Is this something they talk about on social media? Will your house make an appearance on You Tube? How large is their social media network. This will give you a sense of how hard an agent is willing to work to make sure people know your home is on the market.

While these questions can help you get a sense of the agent’s process and personality make sure you also follow your intuition. If speaking with them feels like talking to a used car dealer you probably won’t enjoy the home shopping or selling experience and it may be better to continue looking for an agent you feel more comfortable with.

Open Houses

Friday, March 27th, 2015

Why you should consider an open house

Bathroom Upgrades using overlays

Tuesday, April 1st, 2014

If you’re considering a bathroom update, you’re probably familiar with the

typical approaches, such as replacing a countertop or toilet, or removing all

the fixtures and finishes to complete a floor-to-ceiling renovation.

However, there is another, far less expensive way to make an older

bathroom look brand new: using overlays.

An overlay is simply a new surface applied over an existing one. For

example, instead of replacing an old and worn bathtub – which is costly –

you can purchase an overlay system (called a tub liner) that fits on top of

the existing bathtub. It’s a little like giving your tub a facelift!

You can do the same thing with your bathroom countertops and floors.

Overlays come in a wide variety of styles and finishes – some of which can

make your bathroom look significantly more upscale. Compared to a major

renovation, the installation of overlays is relatively straightforward. A tub

liner installation, for example, can be done in a day.

You can learn more about overlays at your local home improvement centre

and at specialty bathroom showrooms.  If you have questions about renovations

and getting your money out of renovations give me a call.

Quick Ways to Keep on Top of Cleaning Your Home

Tuesday, April 1st, 2014

Start at one end of the house and keep moving to the other end. Then…

• Cleaning is much easier when everything has a home. Work on creating organized storage for all of the things that end up being scattered around the house, like papers, mail, shoes, & toys.

• Use a large laundry basket to collect items such as toys or clothing that need to be returned to a different room. If you have multiple offenders, use multiple baskets. After you have finished tidying every room, take 5 minutes to put away the collected items.

• Save sweeping/mopping and vacuuming until the end, and then do it all at once. If you have mostly hard surface floors, use an industrial dry mop to wipe the floors each day. It takes only a couple minutes to run it over all the floors and then shake it off outside. About once a week, do a really thorough sweep and then use a Swiffer WetJet to mop.

• Likewise, save the glass cleaning for the end as well. Once the house is completely clean, grab window cleaner and a rag and run around doing spot checks on the glass doors and windows. Wipe the bathroom mirrors as well as the fixtures and sink.

• Keep daily shower cleaner in the bath/shower and spray down after each use.

• Store your toilet brush in a container of bleach; replace the bleach once a week.

Five Baby Proofing Basics for Your Home

Tuesday, February 4th, 2014

CABINETS Babies can get into danger by exploring cabinets, especially those in the kitchen and bathroom. Move all potentially poisonous substances and sharp objects into locked cabinets. Better yet, purchase childproof safety latches for all the cabinets in your home-regardless of what they contain.

ELECTRICAL OUTLETS Babies can get a shock by sticking their fingers or objects into plug outlets. Unless outlets are behind heavy furniture or up high and inaccessible to your little one, close them off with safety plugs or with safety covers that snap shut when the outlet is not in use.

CRIBS As soon as your baby starts trying to pull himself up, move the crib mattress to its lowest position and remove all objects (including mobiles, crib toys) that he could climb up on to get out of the crib.

DRAPERY & BLIND CORDS These pose a strangulation hazard, since babies can become entangled in them. Tie them up and out of your baby’s reach.

FURNITURE Unstable wall units, dressers, bookcases, or tables can topple over on babies who try to climb up on them. Have wobbly furniture repaired, or bolt questionable pieces to the wall.

How a Home Inspection Helps You

Tuesday, December 10th, 2013

How a Home Inspection Helps You

Whether you’re considering buying a particular home, selling your current property – or both – a home inspection can help.

 

A home inspection is an inspection by a qualified professional who takes a close look at every aspect of a home – structure, wiring, plumbing, and more – and identifies issues you may not have noticed yourself. For example, a home inspection can reveal that a furnace will need to be replaced soon, or that there is a water leak into the basement that needs to be fixed.

You’ll definitely want to get a professional home inspection before you buy a particular property. That’s why almost 100% of offers to purchase a home are conditional upon passing a home inspection. (The last thing you want is to buy your dream home only to discover that the wiring needs to be updated!)

Some Sellers like to get a home inspection on their own home before listing it for sale.  This helps to identify issues a potential buyer may find so that you don’t lose out on any potential buyers.  This is done more when it is a Buyers market and right now in Calgary that is not the case – we are very much in a sellers market.

Many reputable home inspectors are members of a professional industry association.

• Canada Association of Home & Property Inspectors. (http://www.cahpi.ca)

• Professional Home and Property Inspectors of Canada. (http://www.phpic.ca)

• National Home Inspectors Certification Council. (http://www.nationalhomeinspector.org)

In my opinion it is not just important to find a licensed home inspector but to find someone with a construction or building background.

It’s important to note that licensing is now a requirement in Calgary and Alberta wide.  So select a home inspector carefully.

Need to find a reputable home inspector? Call today.