As a Realtor (R), I often get asked about professional staging services, particularly when a home is vacant. I get asked questions such as “How much does it cost? How much faster will my house sell? Can I get more money for my house if I stage it?” Below are some tips and things to think about if you are considering staging your home in Edmonton or Sherwood Park before you put it on the market!

Tip#1: Hire a professional Stager and request samples of their work – before and after. Professional Stagers receive extensive training on how to select and place furniture, artwork and accessories to make a room more visually appealing to buyers. A Stager can pick out the best assets of a home and use staging techniques to emphasize those features, while drawing the eye away from less desirable ones.

Tip #2: Start with a clean, well-maintained home. No house is perfect, but it is important to remember that a dirty house with numerous repairs needed that is staged is a bit like putting lipstick on a pig! You can dress up a room, but if problems are obvious, then it looks like the staging is attempting to hide something, which is NOT what you want!

Tip#3: Think of staging is an investment, not an expense. Staging IS expensive – for an average home with a few rooms chosen, expect to pay anywhere from $2000 – $2500. However, in the vast majority of cases, it will help a property sell faster and statistically will sell for 5 – 10% more money! That is a pretty good return on your investment, and also a lot cheaper than a $10,000 price reduction if the house does not sell.

Tip#4: Stage for one month and get quality photos. The bulk of the cost of staging lies in the monthly rental fee for furniture and accessories, which is why most builders purchase furnishings for their show homes instead of rent. In most cases, the house will likely sell before the one month is up. In my opinion, you will only need to stage for one month, and you have the photos and/or Virtual Tour already on the MLS. Just make sure the photos are great quality with good lighting. There is no point in spending the money on Staging when the photos are less than professional!

Tip #5: Hire a Stager who promotes your property once it is listed. Many Stagers have their own Website and use Social Media to promote the work they do. Make sure your home is promoted – a win-win for all!

Do you have further questions about staging your Edmonton or Sherwood Park home, and want to know who the good ones are? Contact me, and I will be happy to help out!

In Real Estate, statistics are examined monthly, yearly, even daily, in order to determine overall trends and general health of the Real Estate Market.

For those of you who know me, I rely a great deal on numbers and statistical data to do my job. Numbers are an objective measure to help determine a house’s value, and numbers don’t lie!  Whether you are purchasing a home or selling one, it is important to understand the role the data play in determining the relative value of a home and in determining how many properties may be directly competing with that home as well.  One way to determine this is to calculate the Absorption Rate in a given market.

What is the Absorption Rate?

Simply put, it is an indicator that demonstrates the Supply and Demand in the marketplace. It is the number of months of inventory on the market, and the length of time it could take to sell the current inventory, based on a specific set of parameters, such as house style, age, size and location.

Why is it Important?

You all heard that Supply and Demand affects price. Supply and Demand are variables that we can do nothing about as consumers – they fluctuate up and down depending on the current market.  The variable we can control, however, is price. That is why setting the right price is CRUCIAL  to achieving good results when selling. Conversely, overpricing will hurt a seller’s overall objective – to sell for the most money possible.

How is it Calculated?

First, establish the specific parameters for the market you wish to examine, such as a particular neighborhood, house style and size. Second, find the total number of sales for the past year. Third, take this number and divide by 12 to calculate the total number of sales per month. Next, take the CURRENT number of homes available (not sold and within the same parameters) and divide this number by the average number sold per month. This final number will give you the Absorption Rate in months.

What Does this Number Mean?

If you get a number that is, say 4.6 months, that is generally considered a Balanced market, where Supply and Demand are basically “even” and do not favor either the Buyer or Seller.

If you get a result in the 3’s or lower, that means we are in a Seller’s market, as there are less months of inventory to choose from. Properties tend to spend less time on market, and there may be a greater likelihood of multiple offers, as buyers are competing over fewer properties.  If these conditions persist over a period of time, it may also result in a higher average sale price as well.

If the number that you come up with is 7 or higher, it is safer to say you are in Buyer’s market.  Properties take longer to sell and may sell for less money if these conditions continue over a period of several months. It is critical to price a property accordingly or it will sit on the market and  depreciate over time, becoming less valuable to the Buyer.

If you would like to know the Absorption Rate for your area, I would be happy to help! Contact me, and I will pull the data for your area, help you determine what kind of market you are in, and advise accordingly!

Your home is quite likely your most valuable asset. We live in a time where Interest Rates are low, and inventory is (relatively!) high. You might be thinking of buying a home in Edmonton or Sherwood Park for various reasons. It might be due to change in lifestyle, such as the kids moving out of the house, a new baby on the way or any number of factors. But without having your financial ducks in a row, it can be increasingly difficult to purchase a home. Here are some questions you need to consider, during during or before getting pre-approved for a mortgage:

1.) What is your credit score?
Banks and lenders use this score to determine your financial worthiness when obtaining a loan. It is a 3-digit number that is basically a measure of how trustworthy you are with money. The higher the score, the more banks/lenders will like you and be willing to work with you in securing a mortgage. If your score is low, there are steps to take to improve your score. But, it won’t happen overnight, It takes time.

2.) How much equity do you have in your current home?

Equity is the difference between what you paid for your house versus what it is worth now. Generally, over time your equity will increase. However, if you bought at the wrong time and your house is now worth less, or if you have been borrowing against the equity of your home to pay off debt, you may find yourself with little equity left, and this will affect your purchasing power.

3.) What is your current home worth?
If you own a home already, having an idea of what your current home may sell for is very helpful in the pre-approval process as mentioned before. Be sure to get a professional opinion from a licenced Realtor (R) as property assessments may not be accurate. Your perceptions may also not be accurate. Knowing the approximate value of your home beforehand will provide a more realistic picture of the equity you may have after selling your home.

4.) What kind of lifestyle do you want?
Knowing what kind of lifestyle you want to have is key. Do you like to travel? How many vacations do you want to take in a year? Do you have kids going into Pose Secondary School? Are you expecting to expand your family? You don’t want to put all your eggs into one basket (your house) and leave little room for any of the finer things in life. These are just of the questions that only you can answer, and need to ask yourself when analyzing the amount that you want to spend on your next home.

5.) Do you have an Experienced Mortgage Advisor?

Having an experienced Mortgage Professional who handles your mortgage can make all the difference in the world. Carrying out a thorough pre-approval can prevent disappointment and wasted time for everyone. A true pro can handle most situations with ease and will keep you informed throughout the process, leading to a positive outcome for everyone! I can help you with recommending someone who will help get the job done with knowledge AND experience!

Do you have more questions about whether you are financially ready to take the next step? Call me today and let’s get the process started!

The old adage, “You can’t judge a book by its cover” does NOT ring true in Real Estate! I have had, on occasion, pulled up to a property to show to prospective Buyer clients only to hear, “Sorry, let’s skip this one – I don’t like how it looks on the outside”. While this happens infrequently, it illustrates the fact that a house’s curb appeal CAN have a major impact on a buyer’s decision to go inside, which could make or break a sale.

What DO Buyers look for when sizing up a home from the outside? Here are some tips on some important areas to address:

1.) Condition of Landscaping   Make sure the lawn is free of weeds, is neatly trimmed, and that shrubs and trees are properly pruned and manicured. Make sure that trees and shrubs do not obscure the front of the house. While this may provide privacy to the home owner, too much shrubbery may make the house look small and insignificant by comparison.

2.) Condition of roof and eaves  While there is always work to be done on an older home, make sure the roof and shingles are in good condition. If the shingles are curling and show excessive wear, many buyers will walk away, knowing that it could cost $4000-$8000 (or more) to replace the shingles, assuming there is no damage underneath. If you live in an area with mature trees, make sure the eaves are clear of debris and that trees are not too close to the house, as this could damage the roof.

3.) Check the maintenance of trim and entry/exit points  Is the trim on the doors and windows painted or capped? Very few buyers like to do this job, as it can be quite tedious. Freshen the paint on any wood trim and  check to make sure that vents, and entry / exit points are properly sealed or covered. This prevents moisture from penetrating as well as insects or small rodents entering the home, which can be a deal-breaker for many buyers.

4.) Check the front door  Think about it – the front door is the buyer’s first and last impression. Make sure it is in good condition, is clean and that the hardware works properly. Nowadays, with many people entering their home via an attached garage, this is very important, and often overlooked! Make sure those impressions are good ones!

5.) Accent with the right decorating  In summer, accent with some planters and hanging baskets. And PLEASE, take down the Christmas lights after Christmas is over. Decorating should enhance but not distract from the appearance of a home. And when in doubt, ask a neighbour.  It is the simple little things that can make a difference.

Want more tips on preparing your Sherwood Park or Edmonton home for sale? Contact me and I can help you get ready to SELL!

This year, my husband and I decided to put our Sherwood Park house on the market. Now, you would think this would be a piece of cake for me, After all, I have been trading in Real Estate as a Realtor (R) for almost 10 years now, so you would think I would have this down pat. Well, the truth is, I now have a new found appreciation for Sellers after seeing the selling process from a Seller’s perspective. Here are some insights I gained along the way – enjoy!

1.) Your house can never be “too clean”.
This is something I obsessed about constantly to the point where my teenaged daughter called my “Psychotic” because I was constantly cleaning the house. Does it have to be perfect? No, but it is sure something to aspire to minutes before the buyers arrive!

2.) It’s a real hassle when you have a pet.
Now, don’t get me wrong, I love my dog. She is part of the family. But driving around in the car while your dog is anxiously wondering where you are taking her (only to return home!) is fine for about 10-15 minutes. Not an hour.

3.) You really start to notice how much cr*p you have.
All that junk you have stored in your basement? Yes, it was taking up precious square footage of your home all this time. Some of it may still be in sealed boxes from the last move! But…. it is sooooo therapeutic to purge it out of your house for good. Just DO IT!

4.) You can NEVER have too many boxes!
It’s amaziing how many boxes you need to move just one room of a house. So, get as many boxes as you can get a hold of, and contact people who have recently moved and offer to pick up their boxes as they unpack. It can save you hundreds of dollars and make the whole process of packing easier. I did purchase a “China set” moving kit this year, and it was worth every penny. Saving time also saves money.

5.) Even though you are looking forward to good times in the new house, you will feel sad about leaving old friends and neighbors behind. Bricks and mortar may make a home, but it is the memories from the people you interact with that matter the most. I watched my girls grow from young girls to teenagers in this house. I remember when they rode on their bikes in the cul-de-sac and played tag in the front yards with their friends, and made s’mores over the fire in the back yard.  Those days are long gone now, but the memories remain.

Is it all worth it? Yes, it is! Let me help you with your next move, whether you are moving to a different community, upgrading or downsizing, I would love to help you sell your home and find a new one! Contact me, and let’s get started!

Forecasting what will happen in the Housing Market in Edmonton and Sherwood Park is a bit like trying to predict the weather.  There are so many variables to consider that affect real estate values.  But, like the weather, we can make some well-educated guesses based on statistical data and the opinions of Economists, real estate investment experts, and Realtors (R) themselves.  Here are some trends to expect in 2015:

1. Prices will continue to rise, but at a slower pace than what we saw in 2014.  We are expecting prices for single family homes to increase anywhere from 2- 3.5% this year, based on tight supply and high demand.
2. We are not expecting a drastic increase in Interest Rates.  It is generally predicted that if Interest Rates rise, it will not be by much (i.e. 25 basis points) and will occur in the 3rd or 4th Quarter of this year.
3. Inventory is currently low and Buyer demand remains high. Despite the drop in the price of oil, the market is tight, particularly with homes in the $350,000 – $450,000 range. So, if your home falls in between this range, this is an incredibly good time to put it on the market!  Just make sure to give yourself a long Possession date so that you have time to find the home you want, as we are predicting more inventory to come on the market as we get closer to Spring.
4. We are continuing to see high demand in the $1 million+ plus homes, which is an indicator of not only higher incomes, but also Consumer confidence in the Move-up market.
5. Because the average price of a home has continued to rise, we will also continue to see Condo and attached housing sales increase, as these are typically more affordable than single-family homes.

All in all, there is NO talk of a Housing Bubble, although you sometimes hear this in the Media. The overall Consensus is that the Edmonton and Sherwood Park Markets will show Slow and Steady Progress in 2015.  This doesn’t make for fancy headlines, but is good news for Buyers and Sellers alike!

If you would like to know what is happening in your specific area, supported by concrete data and statistics, please contact me to arrange a meeting to see what you potentially get for your home today!

1.) Never Underestimate the Value of a Good Paint Job.
Did you know that fresh paint can bring the highest Return on Investment (ROI) provided the colors are neutral? Neutral tones appeal to the largest number of buyers. The opposite is true of strong colors, which can polarize buyers – they either love, or hate the color. Greys are very popular right now. Make sure to invest in a professional painter. Don’t forget to refresh the trim and ceiling as well if they need it.

2.) If it’s Broken, Fix it!
Sounds obvious? Think again. Often homeowners overlook the “small” things, like that broken doorbell, the rattling exhaust fan, or the squeaky door. However, those small things add up to big things to the Buyer. It also makes them think, “What else has not been maintained?” Go through every room of your home and make a list – don’t forget the exterior!

3.) The First and Last Impressions Count.
Think about when you bought your last house. What was your first impression? Chances are, both curb appeal and the appearance of the foyer are what often stick in your mind. Make sure you are making the best impression possible!

4.) Clean, Clean, and Clean Some More!
A clean house is both welcoming and shows pride of ownership. On average, a clean home will sell for more than one that is dusty, dirty, and cluttered. Donate or throw away anything that is not needed anymore. It is surprising what people stash away and don’t even remember they have! Consider hiring a professional cleaner and have the carpets professionally steam cleaned as well. If you own pets, try to remove all evidence of the pet if you are able. If you smoke, never smoke in the house. It can quickly depreciate your home, even to smokers! And make sure the home is aired out if vacant. Fresh air is always appealing in a home.

5.) Give Rooms a Function.
Rooms that serve many functions at once are confusing. What is this room supposed to be? Is it an exercise room? A scrapbooking room? A toy room? An Office? Or all of the above? Don’t laugh – most houses have these rooms. But when you are selling, it is a good idea to pick one purpose for a room and focus on that. It brings a sense of calm and organization to the Buyer, even if YOU don’t always feel that way!

Need a fresh set of eyes? I can help! Contact me for honest feedback as part of my Listing Services. I’m here to help!

I often get asked, “When is the BEST time to sell my home?” To me, that question is a bit like asking, “When should I start raising a family?  The answer is, “When you are ready!”  Sellers have all kind of reasons for selling, and these can occur throughout the Year!

Most people choose to list and buy in the Spring. This is borne out in our Edmonton and Sherwood Park Real Estate data, where year after year, the peak of inventory AND the peak of Purchases occur during the third week of May.  OK, so that is what the majority of people do – the grass is green, the flowers are blooming, and summer is on its way. But does that mean Fall is NOT a good time to sell? The answer is a resounding, “No”, for the following reasons:

Less Inventory to Compete With! If the majority are listing in the Spring, that means at that time you are competing with more homes to get the attention of interested Buyers. If you list in the Fall, you have less competition as a Seller, which is good!

Low Interest Rates. Interest rates are still very low, and that could change next year in the Spring /Summer market, making your home less affordable for certain Buyers.

Less volatile time. Because the market is less busy in the Fall, it may be easier to predict the value of your home.

Great time for Move-Up Buyers. Say you want to move to a bigger, more expensive house, but you are thinking that you will get 2% more money for your house next Spring. That also means you will be paying 2% for the house you will be buying at that time as well, as the market does not discriminate!  You will gain LESS in the sale than you will be paying out on your purchase. If you are downsizing, it might make more sense to sell in the Spring. It’s really  all about what you net,  after all!

Buyers in the Fall are Serious! No fooling around! If they need to buy, chances are they aren’t kicking tires. They typically want to move in and get settled before Christmas, and preferably before it gets really cold if they can help it!  Serious buyers mean serious offers. That, combined with less inventory, means a better offer for you, the Seller!

If you ARE considering putting your home on the market soon, please contact me for a no-obligation market evaluation that determines the value of your home. I can also help you if you are thinking of Buying in the Sherwood Park and Edmonton region. What are you waiting for, Christmas? 🙂

The NUMBER ONE QUESTION I get asked as a Realtor(R) is, “What is the market going to be like?”

To me, that question translates into “I am thinking of selling my home this year. Is this really a good time to do it?”

While I don’t have a crystal ball ( I wish I had!), and the fact that forecasting the Real Estate Market is a bit like forecasting the weather, 2014 is looking to be a GREAT year to sell or buy a home! Here’s why:

• High Demand.  In 2013, the Edmonton and Sherwood Park regions showed the lowest housing inventory and highest average sale price for the PAST FIVE YEARS, indicating that demand for housing is stronger than ever!

• Robust Economy. The Edmonton and Sherwood Park regions are the FASTEST GROWING ECONOMY IN CANADA, even beating out Toronto and Calgary, and continues its growth at THREE TIMES the NATIONAL AVERAGE!

• Increasing Value. Forecasters are conservatively predicting a 3% increase in the value of Single Family Homes and a 2% increase for Condos.

• Strong Buyer Demand. There are many BUYERS out there right now due to low vacancy rates, higher rents and the ongoing migration of people obtaining full-time employment.

• Great Value. Among the major municipalities in Canada, the Edmonton / Sherwood Park region remains the LOWEST priced, and interest rates have continued to be low.

• Stable Investment. Economic growth is forecasted to continue well into 2017/2018, which provides consumers with confidence in making a solid real estate investment.

Want to talk further?  Want more information on the Edmonton and Sherwood Park market?  I can help! Contact me for specific information on your area so that you can make the Best Decision possible and Get the Service You Deserve!

Thinking of Selling Your Home in Sherwood Park or Edmonton?  Wondering if You Should List Your Home in the Fall?

Most Sellers feel that the best time to sell a property is in the Spring, when the snow has passed and everything is fresh and green. Note that I said “Most”.  If the majority of Sellers are listing in the Spring, shouldn’t you do the opposite to make your home truly stand out?

While Spring is the most popular time to list and sell a property, here are some reasons why Fall is a GREAT time to List:

• Less Competition from Other Sellers. Typically at this time of year, there are fewer listings, which means that as a Seller, you have less properties to compete with. This is very desirable for a Seller, as opposed to listing in the Spring when there are many more properties on the Market.

• Buyers Get a Chance to See Your Home BEFORE the Snow Flies. Very often, the Buyers need to see the front and back yards of a property before it is covered in mountains of snow! The Fall colors are beautiful, and it is a good time to post these pictures on your listing before Winter begins.

• Home Buyers are Still in the Mood to Buy in the Fall. Many Buyers, particularly families, want to move and settle in before the crazy Christmas and holiday season begins. It is also important to remember that there are Buyers at ALL times of the year, due to circumstance, job transfer, etc.

• Houses are Still Selling Rapidly in the Fall Season. That is, if you price your property correctly. At this time of year, it is essential to price your home at or slightly above Market Value. In spite of the lower inventory, Buyers also want value, and if you want TOP DOLLAR for your home, you need to offer the BEST HOME for the BEST PRICE in your geographic area.

Contact me for a Free Market Evaluation to see what your Sherwood Park and Edmonton home could sell for in today’s market!