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!