BC Home Buyer Rescission Period, BC Housing Ministry, Anti-Flipping Rules & more

 

One Hour Ideas for Boosting Curb Appeal

You’ve heard of the term “curb appeal”. It refers to the initial impression buyers get when they first see your property from the street. If the impression is a good one, it sets the right tone for the rest of the home viewing. How do you boost curb appeal? Here are some proven ideas that you can get done in an hour or so: Wash both the inside and outside of the front windows. You’ll be amazed at the difference that can make. Sweep the walkway leading up to the front entrance. Add a new welcome mat. Also, wash down the front door. If possible, remove cars from the driveway. Let buyers imagine their own cars parked there! Mow the lawn. Lightly trim the hedges. Weed flower beds. Remove anything from inside window sills that may look unsightly from the outside. Try putting a couple of flowering plants there instead. Place any trash bins out-of-sight. For example, put them in the garage or neatly at the side of the house. If the entrance door hardware is old and worn, change it. New hardware can make a bigger difference than you might think. Make sure the outdoor lights are working, especially if you’re showing your home in the evening. Add some flowering plants to flower beds, or buy a couple of portable potted plants and place them strategically. Clean your mailbox. If it’s rusted, replace it. If you have a power washer, give the walkway and driveway a quick blast. Just be sure it will be dry before the buyers arrive. These one-hour improvements may seem minor, but anything that helps buyers form a more positive first impression of your home is worth the effort.

The Latest Options in Outdoor Lighting Outdoor lighting has come a long way from the days of patio lanterns and strings of lightbulbs. These days, there’s an exhaustive array of options available to illuminate your outdoor space, and make it more appealing and comfortable, particularly in the evenings. Here are just a few ideas: Solar garden lights. These lights are on stakes that can be easily inserted throughout the garden. Powered by the sun, they generate enough energy to cast a soft, pleasant glow along walkways or in flower beds in the evenings. Deck post lights. These are easy to install because they’re designed to sit on top of a standard 4x4 wood deck post. Most are solar powered. Street-style lamps. As the name implies, these look similar to old-fashioned street lamps. Installation is a little more complex, but still DIY-friendly. They’re eye-catching and have a dramatic impact on the look of your outdoor space. Portable lantern lights. These are outdoor lights that are portable and often made to look like a decorative fixture for a coffee table or side table. They can be placed anywhere. LED walkway lights. These are small lights that fit neatly and almost invisibly under stairs and around walkways. Walkway lights not only look good but also improve safety. Most are battery powered. Planter lights. This is one of the most interesting options. Each one is both a flower pot and a light in one! The pot itself is translucent which allows the light inside to shine through. Design experts say you should treat your outdoor space as you would any room in your home. Lighting it up for evening comfort and enjoyment is a good place to start. BCFSA - Home Buyer Rescission Period Information Vancouver Sun – Cities across B.C. look to building more laneway and infill housing CBC B.C. – Renters cautiously optimistic changes to B.C. housing rules will make life easier Victoria Times Colonist – B.C. to create new stand-alone Housing Ministry Victoria Times Colonist – Speculation and vacancy tax generating millions, is being expanded, government says CBC B.C. – B.C. to create 1st minister to focus solely on housing crisis, says premier CBC B.C. – Rental restrictions could increase speculation, create more work for strata councils, homeowners say Financial Post - GOLOMBEK: The CRA is already challenging real estate transactions ahead of new anti-flipping rules Canada’s new anti-flipping rules for residential real estate are scheduled to come into force on Jan. 1, 2023, and are designed to “reduce speculative demand in the market place and help to cool excessive price growth.” Financial Post - Bank of Canada says higher interest rates still needed to tame inflation Inflation in Canada remains too strong, and higher interest rates will be needed to cool the overheating economy, Bank of Canada Governor Tiff Macklem said in testimony at the House of Commons on Wednesday.  “Inflation has come down in recent months, but we have yet to see a generalized decline in price pressures,” Macklem said. “This tightening phase will draw to a close. We are getting closer, but we are not there yet.” Financial Post – Banks seek workarounds to avoid mortgage default for struggling variable-rate borrowers Financial Post – A severe doctor shortage in Canada is fast approaching, RBC report says Globe and Mail – MCLISTER: An ominous warning portends mortgage rate relief – eventually Storeys – As Ontario and B.C. home prices sink, these 4 provinces are becoming more expensive Canadian Mortgage Professional – What will the impact of the current interest rate hikes be? Canadian Mortgage Professional – How much have mortgage interest costs risen? Keyspire - Finding Passive Appreciation  Real Estate Magazine – How to make home inspections work for you National Post – HOLMES: Keeping your family safe from harmful gas Globe and Mail – Canadian house prices expected to tumble 17.5% peak to trough, analysts say Canadian Mortgage Professional – How did average home prices shift across Canada's cities last month? November Jazz Music Notable, Quotable, Quotes!   “Try not to become a person of success, but rather a person of value.” Albert Einstein “A journey of a thousand miles must begin with a single step.” Lao Tzu   In the days before the internet, when people were looking for a professional – a contractor, for example – they would often ask a friend or neighbour, “Do you know a good [insert profession]?” Well, guess what? The same thing still happens today! It’s just done a little differently. These days, people often ask for recommendations online, such as on their community’s Facebook page. However it’s done, the intention is obvious. People prefer to work with professionals who are recommended. That definitely includes real estate professionals. In my business, I work hard to be the kind of trusted real estate professional that clients rely on to help sell their property, find their next home, and make the entire process go smoothly. In addition, I stay in touch long-term to be an ongoing resource of information and advice. In fact, that’s one of the reasons I send you this informative e-newsletter. So, if friends or neighbours ask for a real estate agent recommendation, I hope you’ll feel comfortable giving them my name. I’d really appreciate your support!   Best regards, Diana Winger Personal Real Estate Corporation | eXp Realty CNE, SRS, SRES, ABR www.Housesforsale369.com | 250-588-8839 ON YOUR TEAM!

Housing Starts Slowed, Rent going up, Questions to Ask Buying a Condo, Beginning of the End for Canada’s Housing Correction

 

Finding the List Price “Tipping Points”

Setting the right list price for a home is a mystery for many sellers. How do you begin to determine what buyers are likely to pay for your property? After all, no two homes are exactly alike. Yet, setting the right price is crucial. You need to avoid the two price “tipping points” that, if crossed, can cause you a lot of problems. The first tipping point is a price that’s low enough for buyers to begin thinking something is wrong. They wonder, “Why is your price so low? What are you not telling us about your property?” But that’s not even the worst problem with this tipping point. If you do get offers at that low price, you’ll have a bigger issue – leaving thousands of dollars on the table. The other tipping point is setting your price so high it discourages buyers from giving your listing a second look. When your price is that high, you’ll get few enquiries and even fewer people coming to see your property. Of course, you can lower your price later, if necessary. But experience shows that reduced prices make potential buyers skeptical. Most sellers who price high in the hopes of getting a windfall, actually end up selling for much less than they would have had they priced their properties correctly in the first place. So, what’s the right price to list your property? The answer is somewhere in-between those two tipping points. Call today for help determining the right price for your property.

Beyond Boxes: Packing Materials You May Need for your Move As you probably know, when you’re preparing to move, you’ll need boxes and tape — and, perhaps some bubble-wrap or old newspapers to use as protective wrapping for delicate items. But that may not be all you need. Take a look at this list and see if you want to have any of these on hand while you’re packing or on your moving day: Colour markers for labelling boxes. (Tip: Colour coding boxes by room will make unpacking much easier.) Stretch wrap to protect larger items that can’t fit into a box. Small plastic bags to store disassembled parts, such as sofa legs, cabinet hardware, etc. (You don’t want to lose them!) Moving blankets to protect floors. A dolly or hand truck to move heavy items. (You can rent these.) Mattress moving bags. These help prevent stains and tears during your move. You can also buy specialty bags for sofas and tables. Reusable foam furniture sliders, to protect floors when furniture needs to be pushed into place. Foam corner protectors. These prevent furniture with sharp corners from banging and damaging other items during a move. Planning ahead and having the right packing and moving materials on hand will make your move less stressful and, hopefully, damage-free! Financial Post - Increase in insolvencies could signal Canadians are struggling with debt loads Real Estate Magazine – Annual pace of housing starts slowed in October: CMHC CBC News – Rent is going up at a breathtaking pace, with no relief in sight. Here's why Storeys – October the ‘beginning of the end’ for Canada’s housing correction: RBC Financial Post – Canadians' outlook on their finances, economy went from dark to darker last month, poll shows Realtor.ca - 5 Questions to Ask a Condo Board Before Buying Keyspire - Reviewing a Contractor's Quote or Contract Business in Vancouver – B.C. home sales down 45 per cent year-over-year in October: BCREA Victoria Times Colonist – Housing starts picking up in Greater Victoria Real Estate Magazine – AXFORD: The beginning of the end for rate hikes? The BEST vegan mac and cheese recipe! With a creamy, cheesy sauce made from sweet potatoes and nutritional yeast, it's just as good as the real thing. RECIPE HERE You’ve probably heard the saying, “You don’t know what you don’t know.” It refers to problems or opportunities you simply aren’t aware of. For example, you might think your plumbing system is fine. You have no problems! However, a plumber may take a look and immediately notice a weak joint that’s sure to leak in the near future. Professionals in their fields know about things we simply don’t. The same situation can happen in real estate. There may be issues or opportunities concerning your home that you can’t see. For example, your property may have gone up in value more than you realized. Or, there may be opportunities on the market that are worth looking into. That’s why I recommend we have a conversation periodically, ideally once a year. That way, you can get updated on your home’s value and what the current marketplace is like. Plus, you’ll get insights into any issues or opportunities you wouldn’t otherwise be able to see. Want to schedule that conversation? Contact me anytime. Notable, Quotable, Quotes! “You get the best out of others when you give the best of yourself.” Harvey S. Firestone “True communication isn’t what you say. It’s what the receiver takes away.” Author Tom Monahan “Do not wait to strike while the iron is hot; make it hot by striking!” William Yeats Best regards, Diana Winger Personal Real Estate Corporation | eXp Realty CNE, SRS, SRES, ABR www.Housesforsale369.com | 250-588-8839 ON YOUR TEAM!

🌺 Remembering Those Who Served, Strong Employment, More Rate Hikes, Planning your Income Suite Renovation & More

 

Getting Family Members on the Same Page Remember the last time you had a family discussion about what to have for dinner? Chances are, there were some disagreements! In fact, it might have been agonizing trying to get everyone to settle on the same dish. Now imagine getting everyone to agree on what type of home to buy!

Obviously, you want family members to be in harmony when looking for a new home. The more everyone is on the same page, the smoother the process will be. Here are some tips worth trying: Make a list. Have everyone list the top three features they want in a new home. You might find that family members are closer to agreement than you thought. Also, family members will likely not be disappointed if they get two out of the three features they want. Have a family meeting. Set a goal to have a clear profile of the kind of home you want by the end of the meeting. Be prepared for some lively discussion, but also be firm that a decision needs to be made. Be understanding. If a family member insists on a particular feature, ask why. It might be trivial, such as having a shopping mall within walking distance when driving or taking transit is relatively easy. On the other hand, the desired feature might be something truly important and worth considering. Manage expectations. Explain that not everyone will get what they want and that you (or you and your significant other) will do your best to accommodate everyone’s wishes. There’s no perfect solution. Depending on your family, it might be difficult to make sure everyone is happy with the home you end up buying. However, by using these tips you can ensure that everyone will at least feel they’ve been heard. Then, once you start building memories in your new place, everyone will start to feel like it’s home! Managing Home Insurance Home insurance seems to be getting costlier every year, with basic premiums continuing to rise as more homes are exposed to added risks attributed to extreme weather events, accidents, vandalism, and outright theft.  This leaves homeowners in a difficult situation, but there are things that can be done to help ease rising costs. First, examine your current policy and talk to your agent/broker about your coverage and premiums. You might, for example, agree to increase your deductible to decrease premiums. Meanwhile, you may also be eligible for discounts, based on client profiles such as bundled policies (e.g., auto & home), claims history, and payment punctuality. Other discounts may be available based on steps taken to protect your home from potential damage, such as installing a backflow valve or sump pump. Or, you may qualify for lower insurance rates if you have recently improved your home’s structural integrity, such as its foundation or roof. Your policy premiums might also benefit from other investments in your home’s infrastructure, like upgrading your heating, wiring or plumbing, or installing a centralized fire and security system. You’ll need to determine whether the cost of these improvements will be offset by lower insurance premiums over a reasonable period of time. DLC - Shockingly Strong Employment Report in Canada Starts Q4 Off With a Bang Financial Post - Canadians' inflation misery lifts provincial budgets from deficits to 'sizable' surpluses Financial Post - 'Here comes the pain': Recession on tap for North America, BMO says CBC - We will come out of this,' Tiff Macklem pledges as central bank signals more rate hikes to come. Real Estate Magazine – Housing affordability: A top concern Real Estate Magazine – The return of conditional offers Globe and Mail – MCLISTER: The lowest mortgage rates in Canada this week Globe and Mail – WHITZMAN: Governments across Canada need common, income-based definition of ‘affordable housing’ Canadian Mortgage Professional – New StatsCan data sheds light on residential property owned by businesses Storeys – 'It's a double-edged sword' say Realtors of CREA's off-market listings ban Keyspire - Planning Your Income Suite Renovation The Record – Lawyers for 100 Victoria residents say eviction violates charter rights Vancouver Sun – New ferry service between Vancouver and Nanaimo launches next summer This Thai Pumpkin Soup gives you a gourmet Thai experience without any of the extra work. It’s creamy, easy to make, and layered with winter squash, warm aromatics, and bold spices and herbs. Quite possibly the most flavourful soup you’ll ever try! RECIPE Eventually, just about all homeowners get to the point where they think about moving. Some want to upsize, some want to downsize, while others just want a change. No matter what the motivation, the decision isn’t always an easy one. There may be many reasons why it makes sense to stay with your current property. At the same time, there may be other compelling reasons to sell and find your next dream home. Fortunately, you don’t have to make that decision alone. As your real estate agent, I’m always available when you have questions or need advice regarding home ownership. In fact, I’m there when my clients need me even if it’s months or years after a transaction. So, please don’t hesitate to give me a call. You don’t have to be serious about selling your home to talk to me. Even if you’re at the “wondering about it” stage, I’m here to help. Notable, Quotable, Quotes!   “The people who are crazy enough to think they can change the world, are the ones who do.” Steve Jobs “It’s not the load that breaks you down, it’s the way you carry it.” Lou Holtz Best regards, Diana Winger Personal Real Estate Corporation | eXp Realty CNE, SRS, SRES, ABR www.Housesforsale369.com | 250-588-8839 ON YOUR TEAM!