Real Estate for the Over 50 Crowd

Mistakes Buyers Make – 4th Example

Posted on: February 20th, 2012 by Kris Sherry No Comments

You don’t think you can afford to buy a home?  Think again!  What are you currently paying for rent?  Wouldn’t you rather that money went into your own investment instead of somebody else’s?

Consider every possible source of cash. Do you have insurance policies or retirement savings that can be used to buy a home? Some Financial institutions are offering cash back options, that can assist you with your first purchase.  May sure you are dealing with an institution that is representing your best interest!  There are many options for mortgages these days.

Kris

Mistakes Buyers Make – 3rd Example

Posted on: February 13th, 2012 by Kris Sherry No Comments

Be aware of ALL the costs:  As a guideline, you should budget 2% of the cost of the home for your closing costs. Fees such as appraisal fees, land transfer taxes, legal fees, federal and provincial taxes all start to add up on your home
 purchase.   You will no doubt also want to think about window coverings and any updates you think are necessary. 

 There are  some incentives from  various government agencies for first time buyers and for other buyers too. Your real estate agent should be able to assist you with knowing the total costs.

Kris

Ottawa Market Update for January, 2012

Posted on: February 8th, 2012 by Kris Sherry No Comments

The Ottawa Resale Housing Market had a fairly typical January although inventory of homes for sale is higher than a year ago, offering more choice for buyers. 

Members of the Ottawa Real Estate Board sold 684 residential properties in January through the Board’s Multiple Listing Service® system compared with 677 in January, 2011, an increase of 1%. The five-year average for January sales is 652. Of those sales, 138 were condominiums while 546 were in the residential property class. 

The average sale price of residential properties, including condominiums, sold in January in the Ottawa area was $349,415, an increase of 5.6 per cent over January 2011. The average sale price for a condominium-class property was $253,210, an increase of 6.8 per cent over January 2011. The average sale price of a residential-class property was $373,731, an increase of 5.5 per cent over January 2011. Since each area shows slightly different trends, if you would like to see what is happening in your neighbourhood, contact me and I can send you the recent sales, average prices and any other additional information that you may wish to have. 

If you have any questions about the market or know anyone else who would like to receive my Real Estate Market Update, please call or e-mail me.   

By the way, referrals play a huge role in the success of my business so please think of me and do mention my name if you hear of any family, friends, neighbours or colleagues who are considering a move.  I’d be delighted to have the opportunity to provide them with my real estate services.

Kris

Ottawa Market Update

Posted on: February 6th, 2012 by Kris Sherry No Comments

Insert January statistics here

Mistakes Buyers Make – 2nd Example

Posted on: January 30th, 2012 by Kris Sherry No Comments

Know what you can afford: Determine what you can realistically afford to pay for your home BEFORE you start to look.  I like to look at it from 2 perspectives- the price of the home based on your pre-approval AND the cost of that home on a monthly basis, including property taxes, utilities, etc. Nobody wants to be “house-poor”.

Kris

Mistakes Buyers Make – 1st Example

Posted on: January 23rd, 2012 by Kris Sherry No Comments

Think First: Don’t start looking until you figure out what you are really looking for.  There might be a big difference between the kind of home you “want” and the kind of home you “need”.  We all dream big.  To avoid wasting your time and to avoid the frustration and  the risk of regretting your choice later, realize that it’s important to satisfy your needs first and your  wants last.  In the long run, the greatest view in the world is not likely to make up for not having enough bathrooms.

Kris

Should I bother with a Home Inspection?

Posted on: January 16th, 2012 by Kris Sherry No Comments

When you put your offer in to the seller, one of the conditions should be that you have the right to a favorable home inspection report. 

 To ensure that you hire the right inspector, talk to your real estate agent, ask for recommendations, then make sure that the inspector is certified (at the moment, the home inspection industry is not regulated or licensed).  Ask the inspectors how many inspections they have completed and what type of report you will receive.  Also confirm how long it will take to receive the final report.

Buying a home is a significant investment and life event.  The more you can learn about your potential purchase, the better.  Don’t get caught blind-sided for the sake of $400 to $500!!

Kris

How to Choose a Home Stager

Posted on: January 9th, 2012 by Kris Sherry No Comments

Just like finding any professional service,  there are steps to follow when choosing a top-quality, home stager with a proven track record.

The first thing you want to see is their portfolio of work. Make sure they have before and after photos, preferably at the same angle, but at least so you can see it’s the same room. If they don’t have before photos, it’s a big red flag and suggests it may not be their work. Any reputable home stager will have a good body of work showing before and after photos. You can usually find this on their website! If you can’t find a website with samples of their work, move on!

Ask for a list of references.  A good home stager always has references from clients and Realtors they’ve worked with and will happily supply you with them.

Make sure they give you all the prices up front so there are no surprises.

Always inquire about a timeline. If the job isn’t done in the timeframe specified, will the stager be charging you more or completing the work as promised at no additional cost? Again, always be on the lookout for hidden costs not agreed upon.

If you’re renting accessories: art, pillows, silk plants, centerpieces, bed linens, etc, you should know up front how much this will cost. If they can’t give you an exact price because it depends on the length of time you’ll be renting their inventory, ask how they determine their pricing so you’ll have an idea of what you’re being charged be it daily/monthly or whatever system they use as it does vary.

Kris

Ottawa Market – A View of 2011

Posted on: January 5th, 2012 by Kris Sherry No Comments

Resale home sales in 2011 were slightly above the five-year average of 14,326 and that’s really the story of the year. The market started off the year quietly, but gained momentum as the year progressed, including the best November on record.

The total number of homes sold through the Board’s Multiple LIsting Service® system in 2011 was 14,412, an increase of 1.7% over 2010. The average price for 2011 was $343,701, an increase of 5.2% over 2010.

Members of the Ottawa Real Estate Board sold 699 residential properties in December through the Board’s Multiple Listing Service® system compared with 618 in December 2010, an increase of 13.1%. The five-year average for December sales is 611. Of those sales,177 were condominiums while 522 were in the residential property class.

The average sale price of residential properties, including condominiums, sold in December in the Ottawa area was $332,527, an increase of 2.6 per cent over December 2010. The average sale price for a condominium-class property was $262,514, an increase of 3 per cent over December 2010. The average sale price of a residential-class property was $356,267, an increase of 0.2 per cent over December 2010. Since each area shows slightly different trends, if you would like to see what is happening in your neighbourhood, contact me and I can send you the recent sales, average prices and any other additional information that you may wish to have.

Give me a call if I can be of assistance with any real estate questions – and don’t forget that referrals can get your Aeroplan points!

Kris

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My Business Success Depends on YOU!

Posted on: January 1st, 2012 by Kris Sherry No Comments

Happy New Year Everyone!

I hope you all had a good Holiday season – good food, good friends, perhaps a much-needed break from work and lots of family time!!

I would  like to get 2012 started with a BANG!!  To do this, I need YOU – I need your referrals.  Word of mouth is a very powerful thing and a major key to success in this business.  If you are thinking of buying or selling, call me now so we can plan the right timing and strategy to make things happen for you.  If you know of anyone who is even remotely thinking of moving, please pass along my name – or let me know and I will contact them myself.

I would also appreciate your thoughts on how I might improve my level of services to clients.  Good service differentiates me from others in real estate so feedback from you is very important to me.  I am always open to new ideas.

My business success depends on YOU!  I know you won’t let me down.

Kris