Housing Activity to Strengthen in 2010

OTTAWA, November 2, 2009 - Housing starts have started to recover and are expected to continue to improve in the second half of 2009. Starts are expected to reach 141,900 for the year and will increase to 164,900 for 2010, according to Canada Mortgage and Housing Corporation's (CMHC) fourth quarter Housing Market Outlook, Canada Edition report.

"We expect housing markets across Canada to strengthen leading into and over the course of 2010 as economic conditions improve", said Bob Dugan, Chief Economist for CMHC.

"Demand for existing homes has rebounded since the beginning of the year. In addition, lower inventory levels characterize both the new and existing home markets. As a result, stronger housing demand will be reflected in higher levels of housing starts in 2010", said Mr. Dugan.

The strong pace of MLS^� ¹ sales seen in the second and third quarters of this year reflects, in part, activity that was delayed in the previous two quarters and is not likely to be sustained. The level of sales is expected to move back closer in line with anticipated economic conditions. As a result, existing home sales, as measured by the Multiple Listing Service (MLS^�), will reach 441,300 units in 2009 and increase to 445,150 units in 2010. The average MLS^� price is expected to be $312,950 in 2009 and $324,500 in 2010.

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

* The forecasts included in the Housing Market Outlook are based on information available as of October 1, 2009. Where applicable, forecast ranges are also presented in order to reflect economic uncertainty.

¹ The term MLS^� stands for Multiple Listing Service and is a registered trademark of the Canadian Real Estate Association (CREA). Data are for 10 provinces.

STAGING TIPS ON THE HOUSE

from CRAZY HOUSE Home Staging

To be competitive, your house should be priced right and look better than all the others. Even though it's your home and you still live there, it's a good idea to get used to the fact that your house is now a product on the market. It is essential to present your home in the best possible light for a quick and profitable sale.

Buyers are going to look at all their options. You have to make it painfully obvious that you have the best value.   It doesn't always mean the lowest price. It may mean a nicer house for the same price. It may mean having more goodies for the same price. It may mean having a lower price, but the buyers have the information and prices of what's available and they will choose the one that is the best value.
You are either going to help sell the competition or the other homes are going to help sell yours.

Remember how you felt when looking for a home and how many you passed over because they didn't look or feel good? Before putting your home on the market, you need to look at your home with buyers' eyes and stage it for sale. It's a smart marketing move when it's time to move a home in just about any kind of market.

Staging is a dynamic, fast way to provide the 'major wow' needed to sell your home faster to the highest bidder.

Staging is to the interior of a home what curb appeal is to the exterior -- nipping and tucking, furnishing and accessorizing, buffing and polishing until the place looks like a model home, without being clinical.

Purpose
Be clear on each room's exact function(s). Never let the buyer do the work of guessing the room's purpose.   A problem room is any room or space where it is difficult to place furniture or to imagine it's function. It may have too many windows with not enough wall space, or too many entrances with too many traffic paths, or it may be dated.

TIP:   Renovation is an option if you are willing to spend some money and have the time to do it.   It is more practical and affordable to make problems disappear through proper staging.

Strategy
Any room can get a facelift with a fresh color scheme, a better furniture arrangement, updated wall color and a few well-placed pieces of art, accessories and plants.

TIP: The idea is to place items strategically so it draws a buyer's interest, focusing on the good features of the space or room.

Solution
If a flaw can't be disguised, draw attention to something else in the room. A large picture or mirror with accent lighting and a ceiling height plant is a great eye-catcher. One large piece of art or mirror is usually better than a collection of smaller pictures. If you do not have appropriate art for the walls, let a great wall color do the work instead. Even a blank wall is preferable to an out-of-place or out-of-scale piece of art.

TIP: Showcasing artwork in the entry immediately inspires and draws in buyers.

By Karyn Elliott

Thanks for reading and I will send you more info next month.

For all your real estate needs I am ready and willing to help you take that next, very important step.

Sincerely,

Louise Fuller

Louise@LouiseFuller.com