Ben Officer-REALTOR®

     FOR A FASTER SALE AND HIGHER PRICE   

There are many television shows today that focus on home staging. If you have not watched any, do yourself a favor and tune in. They all say the same thing: do not even consider putting your house on the market until you have taken a close look at its condition. Experienced sales people know that you only have one shot at impressing potential buyers, so take some time to prepare your home for showings. You will be rewarded with a faster sale and a higher offer.

Start with the Basics

- Everything from floors to windows must be spotless. Remember to clean the oven and other major appliances.

- Skylights should be crystal-clear, too.

- Kill the offensive odours. They're the first thing buyers notice, and often a permanent turnoff.

- Eliminate clutter.

- Put away small kitchen appliances and other items that are sitting on countertops and tables.

- Remove photographs from table-tops.

- Organize the closets.

Outside Tasks

- Clean the drain gutters. Buyers almost always comment if gutters are full of leaves and it makes them question other maintenance issues.

- Store or organize items that make the yard look messy.

- Make your front entry inviting. Decorate it, paint the door or buy a new door. It's the first look at your house, so make it a good one.

Tips for Vacant Homes

Vacant homes often greet Real Estate Sales Representatives and home buyers with a blast of stale or mildew-laden air. As soon as buyers smell mildew, they are out the door. Deal with the mildew before you list the house.

Have you ever noticed that during colder months the interior of a house without heat always feels colder than it is outside? Leaving the heat or air conditioning running while a home is on the market reduces odours and makes the house more inviting. Keep the lawn and landscaping tidy, even if you have to hire someone to do it.

Don't Take it Personally

The first step is to separate yourself from any personal feelings you may have about your home. It's not your home now; it's a commodity you intend to market. As the seller, you must trust your own instincts. Try to evaluate your house as if you are seeing it for the first time.

If you were a home buyer, what would you think about the house?

What changes would make immediate improvements?

What are the home's best features and how can you show them off?

How about a look that says "comfort" or a popular decorating theme, such as the vintage, casual look of Shabby Chic.

Create a Mood

Is there a mood that you’d like to create? If you're near water, how about breezy fabrics and blue-green colors that remind us of the beach? If you're in the mountains, perhaps you could go rustic. Study the house, brainstorm, and speak to your friends or family members about possible ideas.

Pack It Up

Pack away most of your family photos. Buyers should be able to imagine their own possessions in the home. When home buyers start deciding how their furniture will fit into your rooms, you're on your way to a contract.

Pack up the bulk of large, personal collections, so that buyers don't get so distracted by them that they forget to look at the house.

Make It More Spacious

Remove excess furniture to make rooms appear more spacious.

Clean and organize the closets.

Store boxes in an out of the way location or rent a temporary storage unit so you can de-clutter every part of the house.

Expose Desirable Features

Remove rugs if they’re covering up nice hardwood floors.

Remove heavy drapes that keep out natural light, especially if there's a great view out the windows.

Add Some Life

Living (and even artificial) plants go hand-in-hand with nearly any home staging theme.

Freshen Up

How about a coat of fresh paint? Are walls in the house dingy? Are the colours dated? Should you clean curtains or other window ornaments?

Create a Mood

Bake bread during showings, or place a fresh loaf in a basket on the counter to create a warm and homey atmosphere.

Classical music playing softly in the background is nice, but choose something that enhances the mood you are trying to create. For example, in the Blue Ridge Mountains, locals and out of town buyers react positively to Appalachian folk music playing softly in the background.

Essential Curb Appeal

In addition to keeping the lawn nicely trimmed, there are other elements you can add to grab a buyer's attention before they walk in the door:

- Use outdoor lighting. It does wonders in the evenings when many homebuyers do drive-bys of properties.

- Buy an attractive doorknob set.

- Sweep the driveway; pressure wash the house or sidewalks if necessary.

- Enhance landscaping.

A great overall impression is often enough to make a buyer more lenient about minor repairs that may be required. You want them to fall in love with the house as soon as they see it from the street.

The number of properties sold via the MLS® systems of all real estate boards across Canada declined in October 2008, according to statistics released by The Canadian Real Estate Association (CREA). Much of the decline in national sales activity resulted from fewer sales in several major markets, including Toronto.

Seasonally adjusted residential MLS® sales activity in all markets numbered 32,048 units in October 2008, the lowest level for monthly activity since July 2002. This is down 14 per cent from sales levels recorded in September, and the largest month-over-month decline in seasonally adjusted sales activity since June 1994.

In Canada’s major markets, seasonally adjusted residential MLS® sales activity in October totaled 21,091 units, down 15.1 per cent from sales activity in September.

"Many homebuyers across Canada battened down the hatches in October as they were concerned with dire headlines about stock market volatility and a global economic downturn," said CREA’s Chief Economist Gregory Klump. "Elimination of mortgage default insurance availability for purchases with less than a five per cent down payment and for amortizations beyond thirty-five years also likely played a lesser role in the decline in sales activity."

Activity was down from levels recorded in September in more than three quarters of Canadian housing markets, including the five most active major markets: Toronto, Montreal, Vancouver, Calgary, and Edmonton. Fewer sales in Toronto accounted for nearly one third of the decline in national MLS® sales activity.

"The breadth and depth of the drop in MLS® activity suggests a major downshift in consumer psychology" adds Klump. "And that has moved many homebuyers to the sidelines until economic news begins to improve."

The drop in sales activity resulted in a more balanced national resale housing market than at any other time in over a decade. Markets became more balanced in every province except Newfoundland & Labrador, where sales activity remains near peak levels.

Seasonally adjusted dollar volume for MLS® sales totaled $9.1 billion in October 2008, down 17.7 per cent from the previous month. Fewer transactions in Ontario, British Columbia, and Alberta accounted for more than 90 per cent of the monthly decline in national MLS® dollar value.

"The gap between national sales activity and the number of new listings is at its widest since 1990," Klump added. "This situation is unlikely to persist for long. New listings will decline, which will stabilize the market."

Consumer confidence in October of 2008 declined to levels not seen since the mid-‘90s, and that is reflected in the housing market trends, the President of The Canadian Real Estate Association, Calvin Lindberg, points out. "The major drop in consumer confidence and a steady stream of economic bad news from the financial markets is taking its toll on the national housing market."

"When consumers are not confident about their financial situation, they’re not active in the housing market, and that in turn impacts the economy more," the CREA President added. According to a study prepared for The Canadian Real Estate Association, the overall economic consumer spending spin-offs from MLS® transactions are $15.3 billion per year, including moving and renovation costs, and purchase of new furniture and appliances.

Lower activity in Canada’s more expensive housing markets continues to weigh on the national MLS® residential average price.

The average sale price of residential properties sold via the MLS® in October 2008 was $281,133, 9.9 per cent below where it stood in the same month last year. The price trend is similar but less dramatic for the weighted national MLS® average price, in which the proportion of privately owned housing stock in each province is taken into account. The weighted national MLS® average price eased by five per cent on a year-over-year basis in October.