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Should your house be staged before you sell?

January 16, 2012 By 6 Comments

To Stage or Not to Stage – that is the question!
by Sveta Melchuk

Updated from the Home Staging archives. Originally published on Jun 18th 2007.

Staging a Home for sale will cost you money. Is it worth spending time and effort on it? After all, once the decision to sell has been made, you just want to get it over with as fast as possible, right?

First, did you determine the «right» price for your house? It should be based on certain objective criteria, such as the location of the property, sale price of comparable homes in your neighbourhood and today’s market conditions. But don’t forget the desirability factor…
While you can’t control some of the other criteria, you definitely have a say in the way your property looks, feels and is perceived by prospective buyers. Increase the visual/emotional value of your property and you will increase its desirability, therefore the price and the urgency to buy it from potential buyers. Why? [Read more...]

Filed Under: Home Staging, Popular, Selling Real Estate Tagged With: , , , , , ,

How to Make a Small Room Appear Bigger

November 14, 2011 By 9 Comments

Updated from the Home Staging archive. Originally posted on May 08, 2007.

Small rooms are the bane of the home decorator. How do you achieve a pleasing look that doesn’t feel cramped and claustrophobic? Without to have to build an addition or knock down walls, you are limited to a few, but effective, decorating tricks that create the illusion of space.

small-spaces.jpg

Use color to your advantage

The strategic use of colour and light is the best way to achieve this. Choose light shades of paint or wallpaper for the walls. Lighter colours reflect light making for a brighter room. Use an even lighter shade of the same colour or white for ceilings and floors. A darker colour on the ceiling will make the ceiling look lower and tends to make the walls look as though they are closing in.

Avoid harshly contrasting colours. In fact, a monochromatic colour scheme that carries throughout the room into fabrics and accessories is very effective. Steer away from too many patterned items. The goal here is to blur perspective. [Read more...]

Filed Under: Home Staging, Popular Tagged With: , , , ,

Real Estate Board encourages agents to start blogging

January 16, 2009 By 12 Comments

Finally, the Real Estate industry is picking up on the web 2.0 and its benefits. Here is a video from the Greater Montreal Real Estate Board discussing the use of technology and the way it can enhance agents/client relationships.

We can expect more blogs popping up soon. Hopefully, they will be filled with original content and not just listings. After all, that’s what listing sites are for. In blogging, the best content is the informative one, direct and honest opinions on the market and advice on how to go about buying/selling real estate. There’s of course, ample space for commentary and some humor :)

In addition to agents joining the blogging network, it will be great to see the buyers and sellers writing about their point of view and experiences in the market. Some un-biased information will be good for a change.

Have you read a good Real Estate Blog lately? Let me know on the comments form!

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Filed Under: Popular, Technology & Real Estate Tagged With: ,

Montreal Real Estate Prices Up, Sales Down

December 17, 2008 By 3 Comments

market sales nov 2007-2008Last month’s MLS® residential sales in the Montréal Metropolitan Area decreased by 31 per cent compared to November 2007.
A 6% decrease in year-to-date sales compared to the same period last year, according to the Greater Montréal Real Estate Board (GMREB). While sales have decreased, single-family home median prices are up by 6% year-to-date.

“Montréal’s real estate market has done quite well this year especially when you consider that prices are up and we’re comparing today’s sales with 2007, the year that broke all sales records,” said Michel Beauséjour, FCA, GMREB’s Chief Executive Officer. “All being said and done, Montreal’s market continues to be a good investment, particularly when comparisons are made with other major Canadian cities such as Toronto, Calgary and Vancouver where sales of single-family homes have dropped by as much as 37 per cent year-to-date, whereas we’re only at a decrease of 9 per cent,” he said.

Source: CIGM

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Filed Under: Montreal Market Report, Popular Tagged With: ,

Who pays the buyer’s agent?

December 14, 2008 By 18 Comments

If you are in the market to buy a home for the first time, and never have used the services of an agent who represents buyers, it’s important for you to know that this service is free.

One of the most common questions from first time buyers is:
How much does a buying agent (or agent representing the buyer) charge in commission?

The answer will be: Zero.

The buyer’s agent (representing the buyer) works in collaboration with the listing agent (who represents the seller). The Listing agent will share the commission with the buyer’s agent if a sale takes place between the two parties.

This is how it works:

Mr seller decides to list their property with agent X (Listing agent). They write up an agreement (brokerage contract) in which, the asking price, description of the immovable, length of the contract (etc, etc, etc) and the service fee (commission) is set.

If a successful sale was made from a buyer brought by a collaborating agent, the commission will be shared.

So, who pays the buyer’s agent? The seller does.
It’s the seller who signs the contract, agreeing to pay the commission to the listing broker/agent, and (when applicable) shares it with the collaborating agent when a sale is made.

The buyer himself, already has many expenses to cover: down-payment, welcome tax, notary fees, etc. One thing that you don’t have to worry about (as a buyer) is to pay for the extra expense of an agent representing you. It’s free

Filed Under: Buying Real Estate, Featured, First Time Buyer, Popular Tagged With: ,

Why Deal with a Mortgage Broker?

June 3, 2008 By 5 Comments

Brokers search for the best lender package to suit your specific financial situation, whether it’s with a Chartered Bank, Trust or Insurance Company. There is a wide variety of options and features available to homebuyers today. To find the best offer takes a lot of time and effort. The mortgage process within today’s very competitive marketplace makes many Canadian homebuyers puzzled. It truly pays to work with a mortgage professional that will represent you and ensure the mortgage you get is the one best tailored to your needs.

NOTE: Choosing the wrong mortgage can cost you thousands of unnecessary paid interest money.

Why Should You Go To a Mortgage Broker First?

A professional presentation to a lender on the first application will get the best response and save you valuable time and money. Secondary applications with previous credit bureau inquiries may be more costly.
Often the success of obtaining mortgage approval depends on the way a proposal is presented and to whom it is sent. Your Mortgage Broker is trained to present your mortgage proposal to obtain the most immediate and positive result.

Example: You don’t call an insurance company for insurance – you use an insurance broker, because of their expertise, product knowledge and rates. So remember, call your mortgage broker first!

How Do Brokers Get Better Deals Than Many Banks?

Brokers often develop professional relationships with private sources of funds, termed private lenders. These lenders can provide many various mortgage products not available at conventional sources.

Can You Still Go Through Your Bank With Your Broker?

Yes, letting a Mortgage Broker represent you to your own financial institution can often result in a better rate than you could get on your own.

Written by Danuta Levitzki. Conseillère en Financement Hypothécaire | Mortgage Loan Specialist
For current interest rates or to get more information on mortgage financing feel free to visit her website or call direct at 1-800-605-6154.

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Filed Under: Buying Real Estate, Mortgage & Financing, Popular Tagged With: , ,

La taxe de bienvenue: C’est quoi et comment la calculer?

May 9, 2008 By 1 Comment

La « taxe de Bienvenue » est en fait le nom commun donné aux droits sur les mutations immobilières. Toutes les municipalités ont le devoir de percevoir un droit pour le transfert de titre de tout immeuble qu’il soit neuf ou usagé situé sur leur territoire. C’est à l’acheteur que revient de payer ce droit.

La « taxe de Bienvenue » est calculée à partir du plus élevé des montants suivants:

Le prix payé pour l’acquisition de l’immeuble
Le montant de la contrepartie inscrite à l’acte de transfert
La valeur inscrite au rôle d’évaluation municipale uniformisée

Elle est calculée comme suit :

  • 0.5% pour les premiers 50 000$
  • 1.0% entre 50 000$ et 250 000$
  • 1.5% pour les montants excédant 250 000$

Exemple 1 :

Pour une propriété d’une valeur de 275 000$ :

50 000 X 0.5% = 250$
(250 000 – 50 000) = 200 000 X 1.0% = 2000$
(275 000 – 250 000) = 25 000 X 1.5% = 375$
TOTAL :
250$ + 2000$ + 375$ = 2625$

Exemple 2 :

Pour une propriété d’une valeur de 180 000$ :

50 000 X 0.5% = 250$
(180 000 – 50 000) = 130 000 X 1.0% = 1300$
(Excédant de 250 000$ taxé à 1.5% non applicable)
TOTAL :
250$ + 1300$ = 1550$

Pour obtenir plus d’informations sur les droits de mutations, contactez la municipalité concernée.

Written by Sheila Iacono. Affiliated Real Estate Agent.
Royal Le Page Habitaction. Chartered Real Estate Broker

Filed Under: Popular, Premier Acheteur Tagged With: , ,
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