Buying a Home?

With today’s real estate market, it’s not uncommon for a family to find the perfect home only to find out that their offer was not selected. It can be devastating, but especially frustrating if there is no way to discover why the offer wasn’t accepted. What was it that made the difference? Some buyers are really crafty when they submit an offer and use some tiny tricks that make their deal hard to ignore. Here are some ways to make sure any real estate offer is the first one considered.

Keep it Simple for the Seller

When the real estate market is slow and there aren’t many offers rolling in, the buyers have their pick of homes and can make deals or add clauses to the contract that benefit themselves. It wasn’t uncommon for a buyer to make an offer for a home that included a term dictating that they would need to sell their own home first. In some cases, any requests like this will automatically disqualify a potential homebuyer from a bidding war. Why would a seller agree to this if somebody else is willing to buy right now?

One-Up the Competition with a Pre-Approved Mortgage

There is nothing worse than agreeing to sell a home only to discover the buyer does not get approved for a mortgage and then it’s back to square one. As a buyer, a quick way to move to the top of the list is to get pre-approved for a mortgage. This proves to the seller that if they accept the offer the home will more likely change hands and the deal will go through, it also has the added benefit of allowing the buyer to know exactly how much they can put down in advance.

Discover and Include the Seller’s Needs

Everybody has a reason for selling their home and some are more time-sensitive than others. A real estate professional will be able to find out exactly why the home is being sold and see if there’s any helpful information that can help when crafting the deal. For instance, some sellers have a closing date that they desperately need to hit and may be willing to accept a lower offer if it is guaranteed to meet that date.

Some Extra Incentives Won’t Hurt

Sometimes the seller will end up looking at multiple offers that are all for similar amounts. At that point, some tiny incentives might make the difference between a winning or losing bid.

Every community is different and every seller has different criteria that need to be met in order for them to accept an offer. By teaming up with a professional REALTOR® you will have somebody working with you to find out what the seller is looking for and what you can do to sweeten the deal and put it above any competition. Let Scot Rose help you find your dream home and craft the winning bid today!

If you are considering selling your house, there are a number of things you will need to do. Selling a home involves much more than just posting ads in local newspapers and setting up a “For Sale” sign on your lawn. If you want to get the best price for your home, you need to plan the sale strategically, make a concerted effort to showcase your property in the best light and ensure it gets a lot of visibility.

Here are top 10 things to do before you sell your home. While some of these things are pretty simple, others may take some effort. But you will find it’s all worth the trouble once you find buyers complimenting you on the way your house looks and how well it’s maintained. Hopefully, this will also act as a catalyst to get a good price for your home.  

1. Look for a credible and experienced real estate agent

Many sellers believe they would be able to sell their house themselves and save the commission they would have otherwise paid to an agent. This may seem pretty tempting at the time, especially if it’s a seller’s market, but it’s best not to take that route. It’s not uncommon for these “for sale by owners” transactions to go awry and you will only end up losing time and money.

While working with a real estate agent is definitely beneficial, you need to be prudent and choose the right professional. It’s never a good idea to hire someone blindly just because a friend has used that agent’s services in the past. It’s important that you conduct some research and identify a few local real estate agents that are experienced and reliable. Interview a few of them to determine who would be the right fit.

2. Improve the curb appeal of your home

If you were out shopping for something, would you step into a store that had a drab display window or a poorly-maintained, unappealing frontage- most likely not. Making a good first impression matters a great deal, and this is why you need to focus on how the exterior of your home looks. Make some simple changes/additions that will improve the external appearance of your home and the entrance.

Mow the lawns, trim and prune the bushes and plants, make sure there is no debris or dirt lying around and place a few attractive potted plants near the entrance to your home. A fresh coat of paint or polish to can do wonders for your front door. All of these may seem like very basic and simple things, but they go a long way in improving the curb appeal of your home.

3. Get rid of all the clutter

When you are getting your house ready to show, keep in mind that less is more. Get rid of all the excess things in your home. Go through the closets, cabinets and all other possible storage spaces and do a thorough spring clean if you must. Either donate or dispose of things you don’t need or haven’t used for a very long time. Cluttered spaces will only mar the beauty of your home and won’t give potential buyers a clear idea of what the house looks like. Curious buyers are apt to open kitchen cabinets and drawers, closets etc. to check whether there is sufficient space for their things. Clearing the clutter before you put your house up for sale means you have one less thing to take care of when you finally move.

4. Remove all other distractions

Just as clutter can distract potential buyers from actually looking at all the indoor spaces and the features and installations in it, personal items such as photographs and other memorabilia also act as distractions. It’s important that you de-personalize all the indoor spaces. If there are any bold or eccentric furniture pieces or artwork, its best to either remove or replace them with something less eye-catching. The idea is to create a blank canvas so prospective buyers will be able to visualize their own things in that space.

5. Give the walls a new look

If you have bright and bold wall colors or have an accent/feature wall, consider getting the rooms painted in subtle colors. While you may love that turquoise blue wall in your bedroom, a potential buyer may not take a fancy to it. Sometimes, features such as these or decorative elements in bold styles and themes can prove to be a turn-off and can impact the sale.

Neutral colors and subtle wall color shades are a much safer option as it’s rare for people to hate them. The light colors lend expansiveness to the space and give buyers the chance to envision how the rooms would look in the colors they like.

6. Do a thorough touch up

Even if you aren’t getting the entire house repainted, make it a point to refinish or repaint scuff marks on walls, doors, and baseboards. This will give your home a well-maintained look.

7. Fix things that don’t work as they should

Make sure that all the handles and doorknobs aren’t loose, no hinges are coming off cabinets and that there are no loose floorboards or step boards. Discerning buyers will notice all these seemingly small things; it will set them wondering as to what other things in the house are damaged or don’t work; and this is something you want to avoid.

8. Add a few special touches

While it’s best to remove embellishments such as décor pieces and extra furniture, it’s a good idea to add some plants to the indoor spaces of your home. You can also place vases with colorful, fresh flowers on the dining table or a sideboard. These will lend a very pleasant, welcoming look to the space.

It’s a good idea to consider staging. Home staging professionals will carefully evaluate the current condition of the home, the items in the indoor and outdoor areas and determine which of these will help create a great first impression on the buyers. They may also recommend that you rent/purchase a few items or may reorganize the furniture etc. to achieve a more appealing look. Want to sell your Calgary home? Get started with a FREE HOME EVALUATION by Calgary Realtor®, Scot Rose. 

Buying a house and all the planning that surrounds the process can be exciting yet very taxing, and this is something prospective buyers need to prepare for. Regardless of whether it’s shopping for houses or preparing to get a mortgage, a mistake when purchasing a property can only lead to numerous future headaches.

Most properties that are for sale will have agents representing the sellers and they are called seller’s agents or listing agents. Their primary responsibility is to ensure the seller gets a good deal and that their best interests are protected.

If you are the buyer, how can you make sure that your best interests are being protected? That’s not very difficult- hire a buyer’s agent! There are a number of reasons why you should you work with a good buyer’s agent when purchasing a house. This person will look out for your interests and help ensure you get the best deal possible. Here are some reasons you need to hire a real estate agent to buy a house:

1. It’s free

This is one of the most obvious reasons to work with a buyer’s agent when purchasing a property. There are very few instances in which it costs you money to hire an estate agent while buying a house. Sometimes, in a sale by owner (FSBO) circumstance, the seller may not be willing to pay the agent’s commision and this is when that cost passes on to you. While this is a very rare scenario, it’s important that you be aware of this possibility. But 99.9% of the times, if you are the buyer, it’s free for you to hire a buyer’s agent.

2. They are knowledgeable

Whether you are purchasing your first house or the fifth, it’s very likely that you don’t actually look at various properties on a daily basis. In comparison, credible and well-established buyer’s agent looks at literally dozens of houses every single day. This means they know exactly which red flags to look out for when viewing properties. Identifying existing/potential pest problems, leakages, and structural issues before you even consider buying a house, is the best way to avoid problems and heavy expenses in the future.

3. Local knowledge

Every real estate market has its own distinct quirks and personality so to speak. These markets can vary significantly from one city/town to the next and there can be a vast variation in neighbourhoods too. This makes it crucial to have a good understanding of the local market. A buyer’s agent understands the intricacies and nuances of the local market. It’s a good idea to work with a real estate agent with local knowledge as they can help you save a pretty penny on your home purchase.

4. Evaluating and securing financing

The real estate financing landscape can be extremely complex and confusing. A buyer’s agent will help with evaluating and securing financing that is best-suited for your circumstances. They will provide you detailed information about all the financing options, which helps you make a more informed decision.

5. Coordinate showings

Coordinating a showing isn’t an easy task for you as the buyer. But a good real estate agent will be well-versed in this aspect. They will be responsible for planning and coordinating the viewings of various potential properties. This gives you the opportunity to view all the potential properties you are interested in if they are available.

6. Navigating the paperwork

A good agent will know how real estate contracts need to be written. Even if you have purchased homes in the past, it’s unlikely you are conversant with the nitty-gritty of real estate contracts. But the agent will know all the ins & outs of the contracts, how they should be written, the deadlines that have to be met and what the other important components of the contract are.

7. Access to different professionals

When your real estate transaction is being finalized, there are a number of professionals that are required such as a home inspector, a mortgage originator and a real estate attorney, and a handful of other professionals. A real estate agent will have business connections with these several professionals from all these categories that they can recommend to you.

8. Handle negotiations

Most homeowners aren’t very confident in negotiating their offer price for a home they have liked. However, when you hire a real estate agent, they negotiate on your behalf. For instance, if a particular property that you are planning to buy is overpriced, they will complete a comprehensive comparative market analysis to identify and prove that the property is overpriced. And this gives you the leverage you need while negotiating a lower price.

9. On schedule transactions

While there can be delays in real estate transactions, it’s not something you would like to deal with. Delays can be frustrating to you as well as all the other parties involved. When you hire a real estate agent, it’s highly likely that your transaction will stay on track with the schedule. There are a number of different reasons why there can be delays in a real estate transaction and many of these can be easily avoided when you hire an experienced buyer’s agent.

10. Helps you maintain objectivity

Buying a property has an emotional aspect and that can distract you from being objective. For example, if you have taken a fancy to a particular home, you may be more likely to look only at the pros. Emotion has no place in a real estate deal; you need to maintain objectivity, understand what all the pros and cons of a property are before making your final decision. A real estate agent can act as an emotional filter at this time. They have no emotional attachment to a property that you may be interested in. This means they can keep you on track and avoid making a rash decision.

As you can see, there are a number of good reasons for hiring an experienced local real estate agent. Get started with a FREE HOME EVALUATION today! I will look out for your interests while you are making this sizeable investment.

If you are either buying or selling a home, you need to judge the vibe of the market. It’s probably equally important to understand how the psychology of home buyers & home sellers in your specific market works. There are also some distinct times of the year when there is a surge in home sales and purchases. Let’s take a look at what these trends are. This will give you a better understanding of when the best time to buy and sell a home is.

January–March

The biggest house selling season is from January-March. There is a distinct reason why this is a very popular time for house sales:

• Families with kids are eager to get their home sale/purchase finalized by late spring. That helps avoid any disruption in their children’s school schedule.
• Some people want to buy a home at the start of the year because they don’t want any interference with their summer vacation.
• Others prefer this time for their property sale for tax purposes.

With so many buyers in the picture, it’s no surprise that spring is the perfect time for people to put their homes on the market. This leads to increased buyer competition, which results in a rise in property prices at the start of the year. If you are planning to sell your home and buy a new one right after that, you will find the best selection of homes at this time of the year.

Spring

While there is a large selection of homes during spring, the competition levels are higher too. If you are more inclined to look for a good bargain, you’d have to put in some extra effort and time to find something that suits your budget. But since there are such a large number of houses on the market, you will eventually find the house that suits your requirement.

June- August

Those who purchased homes in the Spring start moving during the summer months. The rest will be on vacation and this means summer isn’t the best time to put your home on the market. Buyer activity levels are lower, and it may take a wee bit longer for you to sell your home at this time.

If you are selling your current home to purchase another one, summer is the best time to find good deals. It isn’t difficult to find sellers that have invested in a new home and have to sell the existing one quickly. While there is less property on the market, you may be able to do some bargain shopping with these motivated sellers.

Fall

If you are selling your home in fall that can be quite a risky proposition, overpricing your property will only make it unsalable. But if you really need to sell at this point of time, make extra efforts to monitor buyer response. If you find it to be very weak, you should be flexible and willing to lower your price. On the other hand, if you are a risk-taker, this period mat work out perfectly for you; it’s an ideal time to sell at a higher price and buy at a lower one.

If you are buying a home, property owners that sell during fall are in quite a rush to sell. Some of them will have purchased a new home during spring even before they sell the older one. Many of these people may have overpriced their homes during summer and end up slashing prices because they have been unsuccessful in selling the property at that high price.

A number of people prefer to sell their home during fall and buy a new one in December. They pay their tax-deductible expenses.These people are hard-pressed to sell and if you are buying, you may end up getting a good bargain from sellers like these.

Winter

This is probably the worst time of the year to sell a home. During the holidays, people prioritize buying gifts and spending time with their family and friends and no one has the time to focus on buying or selling at this time. If you don’t have an option but to sell in the winter, be prepared to deal with bargain hunters. Since very few buyers are scouring the market for homes during Christmas week, there are very low chances of any competition or multiple offers.

In the same strain, this season doesn’t offer a great selection to a home buyer. Unless you have oodles of patience and are a serious bargainer, the recommendation is that you abstain from looking for and buying a home during this season. Home prices typically drop down to a 12-month low during this time. And so, if you do find that someone is selling their home during Christmas time, it’s a sure-shot indication that the person is open to bargaining and is eager to sell that home; and that may be your chance to get a great deal.

While being aware of these market trends is important, it’s also vital to understand that the best time to buy a house also depends on the buyer’s or seller’s goals and individual circumstances. Every person enters this landscape with a different profile and something that works for one individual might not work for the other.

For example, if your goal is to save money to meet the 20% down payment requirement, and you have almost achieved that goal, then it’s important that you stay on track. Vacillating between decisions only because the housing prices or interest rates are ebbing and tiding will just shunt you off track from your goal of meeting that 20% down payment amount. Forecasting interest rate changes and how the market volatility is going to impact your home buying plans is important no doubt, but you don’t have any control over these external variables. What is probably more important is that you identify what works best in your situation and make a prudent choice when it comes to buying or selling your home.

Looking to buy or sell in the Calgary area? Get in touch with Scot Rose, Calgary Realtor®, today!