Rate Decrease, Federal Foreign Buyers Ban is in Effect, Housing Market, Parking Minimums, Kitchen Trends, Lighting Matters & Repairs Before Listing?

 

Listing Before a Repair or Fix-Up is Done?

If you’re thinking of selling your home, you may have walked through it and discovered that you’ve been ignoring work that needs to be done to make your home look its best. For example, you may have been living with a cracked floor tile that needs to be fixed, or a damaged closet door that requires replacement. Is it a good idea to get these maintenance issues dealt with before you list? Typically, yes. You want your home to show well. Anything unsightly or concerning will get noticed by buyers. Fortunately, investing the time and money to get the work done will pay off. It will help you sell your home faster and for a good price. However, there may be circumstances in which you need to list before repairs and other improvements are completed. For example, if you need to sell within the next few weeks, you may simply not have enough time. In that case, there are a couple of options. Either you can arrange for the work to be done and let buyers know that it’s been scheduled; or, you can let buyers know about the issues and let them know you’re selling as is.

Lighting Matters when Selling your Home Remember the last time you were in a furniture store or other major home retailer? Remember the fully decorated displays of furniture, appliances and other products? Some of those may have even been organized as model rooms. What did most of those displays have in common? Chances are, they were well lit. In fact, in the retail industry, there are professionals who specialize exclusively in display lighting. It plays such an important role in showcasing and selling home products successfully that the stores are willing to absorb the expense. The same holds true for your home. If you want to show your home well, and sell it quickly and for the best price, make sure every room is well lit. There are probably some rooms in your home where the lighting is adequate, such as the kitchen and bathrooms, and perhaps the foyer. But there are other areas where the lighting may be mediocre. Take a close look at: Closets Storage areas Bedrooms Laundry rooms Hallways The garage If there are areas in your home that are dark or shadowy, the solution may be as simple as installing higher wattage bulbs, provided your fixture can accommodate them. Keep in mind that brightness can vary significantly from one type of bulb to another. Your goal is to make the room feel bright yet comfortable on the eyes. Also, don’t forget to open drapes and blinds. Often the best and most pleasant source of light for a room is the sun shining through a window. Want more tips on showing your home well? Call today.   Financial Post - Housing market bottom is within sight, TD says Declines in home prices and sales are expected to bottom out in the first few months of 2023, Rish Sondhi, a TD economist, said in a note to clients. The floor will coincide with a pause in Bank of Canada interest rate increases, which TD thinks will happen after one more hike in January. REALTOR.ca - 8 Kitchen Trends to Watch for in 2023 CBA/ABC National – Who can buy a home in Canada? Globe and Mail – Canada will see weakest level of homes sales this year since 2001, TD report forecasts Storeys – Peak to trough: Canadian home prices expected to bottom out at -21% in early 2023 Bank CEOs weigh in on “vulnerable” mortgage clients (Canadian Mortgage Trends)  Is it risky business when buying a foreclosure that’s half complete? (Global News)  Housing market bottom is within sight, TD says (Financial Post)  How a REALTOR® prices your home CBC B.C. - Federal tax credit for multi-generational home renovations good start but not enough, experts say.  Morie Ford and her husband have been 'empty nesters' for the past 15 years. But that changed last month when their daughter and her partner moved into their newly constructed laneway house. Ford says the rising cost of living and the unaffordable housing market has spurred many, like her daughter, to move back home. Real Estate Magazine – The battle of housing costs: Owning vs. renting National Post – Gas stoves may be banned in U.S. amid health concerns, links to childhood asthma Toronto Star – Tens of thousands of Canadians could default on mortgages due to rising rates, bank CEOs say Federal Foreign Buyers Ban is in Effect Keyspire - Increasing Rent Without Renovations Storeys – Victoria may axe parking minimums, urge conversions to boost housing supply Josh Groban - You Raise Me Up (Official Music Video) | Warner Vault Notable, Quotable, Quotes! “You don’t have to be great to start, but you have to start to be great.” Zig Ziglar If you’re like most people, you’re excited about the new year ahead. After all, the last couple of years have been challenging for many — to say the least. This month, January, seems like a brand-new beginning! In that vein, I hope you have a wonderful year. And, I want you to know that I’ll continue to be a resource for you for anything real estate-related. For example, if you have any questions about the market (which can seem crazy at times), please give me a call. I have the latest data and can provide you with the answers and insights you need. Remember, your local market may be very different than the general real estate news you find online. I can also help with recommendations. For example, if you’re getting any work done around the home this year, I may be able to suggest the name of a reputable contractor or other professional. Just know, I’m here for you whenever you need real estate-related information, advice or help. Best regards, Diana Winger Personal Real Estate Corporation | eXp Realty CNE, SRS, SRES, ABR Mortgage Agent | Dominion Lending Centres  ON YOUR TEAM! HomeVictoria.com  Housesforsale369.com Searchbestmortgages.com 250-588-8839