Happy April!
As we gear up for the next part of the year, it is becoming a "Buyer's Market" in our neck of the woods! This month I have included some tips for preparing your home for sale as well as a guest realtor, Carolyn Stenson, who will give some insight into the buyers market; and, a mortgage expert, Michelle Alford, with some things to consider about mortgages for those first time buyers!
Thank you for letting us help you to 'twique' your space and welcome you home!
Have a great month,
Judith Lowe |
Thinking of getting into the market, but not sure if the time is right? Read on!
By: Carolyn Stenson,
North Shore Specialist
We are officially in the midst of a buyer's market according to a recent survey by Ipsos-Reid. With mortgage rates and housing prices more favourable than in many years, renters who have been unable to make a housing purchase are realizing that now is a wonderful window of opportunity. Buying your first home is one of the largest investments of your life, but the Federal Government has just provided help in the form of the First-Time Home Buyers' Tax Credit - a $5,000 non-refundable income tax credit amount on a qualifying home acquired after January 27, 2009. For an eligible individual, the credit will provide up to $750 in federal tax relief starting in 2009. A new line will be incorporated into the personal income tax return form to allow a buyer to claim the Credit. The Credit is calculated by multiplying the lowest personal income tax rate for the year which is 15% in 2009 by $5,000 and is claimable for the taxation year in which the home is acquired. The maximum amount of the Credit in 2009 will be $750. The Federal Government has also expanded the provisions of the Home Buyer's Plan to permit first-time homebuyers with greater access to their RRSP savings. The HBP withdrawal limit has been increased to $25,000 per person for withdrawals made after January 27, 2009. This means that two first-time home buyers purchasing a home jointly with sufficient RRSP funds in each of their names may now together withdraw up to $50,000 from their RRSP funds toward the purchase of a home in Canada. Property Purchase Tax in British Columbia is calculated as follows: 1% on the first $200,000 of the purchase price and 2% of the balance of the purchase price. So long as you qualify, the Provincial Government provides exemption from paying the Property Transfer Tax for First-Time home buyers. Check on details, including your eligibility for Federal Government programs: Google CMHC or www.cra-arc.gc.ca/gncy/bdgt/2009fqhbtc-eng.html. Find out more about the Provincial First Time Home Buyers Program go to www.gov.bc.ca/br.
 In 1989 Carolyn Stenson established Re/Max Masters Realty Inc., a Real Estate Sales Office specializing in the sale of residential properties on the North Shore . The Office quickly became one of the strongest Real Estate offices in West Vancouver . Year after year, the Company has achieved record levels of unit sales, unit volume and Realtor recognition through the Real Estate Board of Greater Vancouver. Carolyn's administrative and organizational expertise ensures that all elements required to ensure the smooth flow of the many details that go into the successful sale of any property are in place: marketing, selling, financing, conveyance, follow-up, scheduling details, the essential "Yes, we'll take care of it" attitude in every situation. Carolyn and her daughter, Sheri brings a full service approach of co-operation and communication from start to finish with developers, corporate clients, and individual sellers.
Check out Carolyn's site for more information regarding their outstanding service, www.stensonhomes.com, or give her a call at: 604-926-6233. |
Mortgage questions?
So you have decided to take advantage of the market and purchase your first home. Now what? How do you find the best deal for a mortgage? One thing you can do is consult a Mortgage Broker as well as your own bank.
The art of securing a mortgage is the course nobody ever taught. In fact, everyone often refers to a bank giving you a mortgage. If the truth to be known, it is the homeowner who grants the bank a mortgage on their property, and cash is exchanged based on the bank's share of collateral. Yet it certainly doesn't feel like the homeowner has the upper hand.  Mortgage Brokers negotiate with the banks and various lenders for the best possible products and lowest possible rates, they do the paperwork and, ultimately, provide you with the peace-of-mind that you're getting the best solution possible. The good news is that there is no cost to you for this service - Mortgage brokers are ultimately paid by the selected lender. ( On approved credit (O.A.C) / fees payable to the mortgage brokers and/or lender may apply.) You stand to benefit from their collective market knowledge and exceptional negotiation skills, while avoiding the somewhat intimidating process of dealing directly with the lenders.
 Are you a first-time buyer? The property you are about to purchase is probably the largest single purchase, and biggest investment decision you will ever make. Mortgage Brokers like Michelle Alford help you through the confusing maze of lender options, mortgage documentation, and terminology you are dealing with as you work your way through this process.
Click here to reach Michelle for more information. Michelle will provide a mortgage pre-approval, which strengthens your position when negotiating the purchase price of your home. Call her at: 604-990-0239,or apply online now, and she will get the ball rolling for you. With electronic access to over 60 lenders Michelle will ensure that you receive the best rate for the product of your choice, usually within 24 hours. |
Tips for preparing your house for selling.
So, you have decided to take advantage of the "Buyer's Market" and put your house up for sale.
You need three things to be successful:
- A realtor who is working for and with you.
- Proper price point.
- A well presented property.
When you are deciding on choosing a realtor you need to think about how that person will work for and with you. Choosing a realtor will help outline the dos and don'ts of choosing someone to help sell your property. For more information, click on the link above to read the entire article, or check out Realtylink.org for more information.
Once you have chosen your realtor, they will help you determine a proper price point based on the current market - remember they are the experts, listen to their advice when deciding on what to price your house, condo, or apartment at. As you will have learned from the above "choosing a realtor" article, carefully consider all of the reasons for settling on a particular price; don't just go for the highest one.
The third thing you need to make sure of is that your property is well presented to the public. Once your property is listed in the MLS listings it is available to the public. The majority of people who are searching for properties begin doing so online. It is imperative that your property be well presented in your listing photos as these are what prospective buyers see first.
There are a number of ways to prepare your property for selling. Home maintenance is very important, especially regarding curb appeal. Make sure the entrance to your house is neat and tidy, grass trimmed, garden weeded, bushes neat, and perhaps some seasonal flowers in pots by the door, or on the porch. Make certain any chipped or flaking paint is scraped off and touched up. Perhaps repaint your front door, maybe change dated hardware. You want to present a welcome to those who enter. If home maintenance is not your thing, then hire someone who can do the work for you. Click here for a google listing of local GVRD handymen.
Once prospective buyers are in the door, you have about 5 seconds to make a good first impression. But, as well as a good first impression, you want to provide an overall lasting impression, so when those buyers return to their homes at the end of a long day visiting Open Houses, yours is the property that stands out in their minds. There are a number of ways to prepare your home. One of the biggest is probably to make certain that you have cleared the clutter in your rooms.
Clutter Buster ideas include giving any children a plastic tub with a lid where they can select, and store, favourite toys, games, and possibly books, for the duration of the time the property is on the market. Then pack up everything else and either store it or give away what you can. Then, when you have a showing, all the items go back in the tub and it can either go in clutter free closets or be neatly placed in the bedroom.
Another Clutter Buster idea is to pack/store away all out of season clothing. If it is spring, pack all winter clothing away and get it out of the closet, this way you increase the closet space visually and large closets appeal to buyers. In addition to personal seasonal clothing, pack away all out of season sports equipment. Winter sports typically take up a lot of space: hockey equipment, ski equipment, etc. In the Hall closet, have one coat per person and then have hangars for guests.
You need to know that prospective buyers will look in your closets; your linen closet needs to be tidy and fresh, your pantry needs to be clean and somewhat organized, your kitchen and bathroom cupboards should only hold necessary items. It is a good time to sort through all of that accumulated 'stuff' and either pass it on to someone who needs it more, or get rid of it.
Think of clearing away the clutter and sorting through cupboards and closets as the first steps toward packing for your move. In fact, you should think about packing up as much as possible and then possibly renting a storage locker until you do move, in this way, your home can then be truly Clutter Busted!
Does this sound like a lot of work? Then consider hiring a professional in your area to help you.
The Professional Organizers of Canada or POC should be able to put you in touch with someone in your area. Click here to find out more.
Does the mere idea of preparing your home for sale seem like a momentous task?
Consider having a Home Staging company come in to do a pre-staging consultation. You have several options when it comes to staging. You can have a Home Staging Professional do all the work for you, or, you can do some of the work yourself, or you can request a Home Staging Report and using the guidelines of the Home Staging Professional complete all of the work yourself.
Remember, your house is no longer your home once you have decided to sell. Your house becomes a product in the marketplace and you need to detach yourself from your house to prepare it to appeal to the broadest range of buyers. You can check out Casaguru to find Certified Home Staging Professionals in your area. Twiques: The Art of Home Comfortis listed for the Greater Vancouver area, so if we can help you prepare your home for selling, give us a call! | |
Thank you to our contributors this month, Carolyn Stenson and Michelle Alford. If you would like more information regarding real estate or mortgage information, please give them a call at the numbers listed above. Do you have questions about redesigning your space for living and don't know how to proceed, give me a call at 604-725-2935 to book a consultation.
New to our emails? Check out our Email Archive through our website at: www.twiques.com .
Until next month,
Judith Lowe Twiques: The Art of Home Comfort
604-725-2935 |
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Thinking of Selling but need to do Repairs First? |
Are you considering selling, but need to complete repairs? Then you need to know more about the Government's Home Renovation Tax Credit.
To find out more, click on the link below: Home Renovation Tax Credit |
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