Warren Shouldice

Cell: 403-461-8103 |

When most people think of the word “REALTOR®“, the image of a professional helping someone buy or sell a home comes to mind. Of course, that’s a big part of the job! But as your REALTOR®, I also consider it my job to help you enjoy your home between transactions.

How do I do that?

This informative newsletter is one way. Another is to invite you to give me a call when you have questions about the real estate market or want to know the current market value of your home.

If you need some work done around the property, I may also be able to recommend a good contractor from amongst the reputable home professionals I know.

Is there any other way I can be of service? Please let me know!

MARKET UPDATE:

The last month of the year is also the slowest month for real estate in our city. With the holidays as well as the onset of winter, many buyers often take a break from their search during the winter months. However, those that are actively looking are often quite motivated and also face less competition from other buyers.

Inventory levels fell across all segments from a year ago, on a monthly basis this helped keep the benchmark price stable in the detached and attached segments. However, the condominium market continues to face significant headwinds, mainly to do with elevated supply levels which currently sit at 7.59 months, well over twice that of the detached market.

QUICK STATS:

 

  Dec. 16 Dec. 15 Y/Y % change
Detached      
Total sales 571 533 7.13%
Inventory 1719 2132 -19.37%
Months of supply* 3.01 4 -24.74%
Average DOM 50 days 47 days 6.12%
Benchmark price** $498,300 $514,000 -3.07%
       
Attached      
Total sales 216 194 11.34%
Inventory 938 1088 -13.79%
Months of supply* 4.34 5.61 -22.57%
Average DOM 59 days 49 days 20.12%
Benchmark price** $329,300 $343,400 -4.11%
       
Condo      
Total sales 146 152 -3.95%
Inventory 1108 1120 -1.07%
Months of supply* 7.59 7.37 2.99%
Average DOM 71 days 56 days 25.11%
Benchmark price** $269,200 $288,000 -6.53%

 

*Months of supply: The ratio between inventory and sales which represents the current pace of sales and how long it would take to clear existing inventory.

*Benchmark price: The monthly price of the typical home based on it's attributes, providing the best measure of price trends. 

 

 

Viewing Your Home From A Buyer’s Perspective
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There is an old adage in marketing and sales: Before trying to sell something, you need to put yourself in the buyer’s shoes. When it’s time to sell your home, you’ll need to do the same thing. Imagine that you’re the potential buyer and then view your property from that perspective.

Start with what a buyer sees first, the outside of your property from the curb. Does your home look inviting and attractive? Are there ways you can improve the look of your home from this vantage point?

It may be as simple as trimming the hedges.

Then, walk into your home through the main entrance. What is your first impression? Does your home look clean, uncluttered, and appealing from the foyer? Is there anything you can do to improve the look?

Even a small change, such as moving a coat rack that is cluttering the space, can be a significant improvement.

Finally, tour the rest of your home. Most buyers viewing homes will visit the kitchen, the living room, and other rooms on the main floor and then check out the upstairs bedrooms. As you are pretending to be a potential buyer and looking around, what impression are you getting? What features do you especially like? What don’t you like? Are there any issues that concern you?

Don’t forget to view your garage and backyard too.

By doing this simple exercise, you’ll be able to see what changes and improvements will make your home show better.

Want more ideas on how to sell your home faster and for the best price? Call today.

 

Imagine The Home In Five Years
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When you view properties listed on the market, you will see them as they look today. Yet, once you purchase a new home, you’ll likely plan on living there for years to come. Since homes and neighbourhoods change over time, it’s a good idea to imagine what the property and the surrounding area will be like over the years you plan to be there.

How do you do that?

To begin, take a close look at potential maintenance issues that may be coming up. Will the roof shingles need to be replaced in a couple of years? Is the furnace more than 15 years old? Will the bathrooms need to be renovated in four or five years?

Then, take a look around the neighbourhood. Find out what construction projects, road improvements, and other improvements are underway or will be happening soon. Are there plans for a new school nearby? Is there a major shopping centre due to be built down the street?

Also try to get a sense of the trends in the neighbourhood. Does it seem like it will be a nice place to live over the next few years? Do the homeowners take good care of their properties?

 

Understanding How Homes Are Priced
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Whether you plan on putting your home on the market someday soon, or you’re just interested in how much your property is worth from an investment perspective, it makes sense to know how homes are priced.

When a home goes on the market, there is an overwhelmingly high probability that it will sell for somewhere close to its market value.

So if a three bedroom, detached home in a neighbourhood sold for X dollars, then you can expect a similar home down the street to sell for roughly the same price.

That’s why REALTORS® look closely at recent home sales in the area in order to advise clients on the best listing price.

Are there other factors that determine selling price? There are many. Home improvements, special features such as a large deck as well as the general attractiveness of your home, can all increase its value to potential buyers.

While some of these characteristics may help boost its selling price, others may simply help you sell your home more quickly.

 

notable, quotable... quotes!

 

“Success usually comes to those who are too busy to be looking for it.”

Henry David Thoreau

 

“There are only two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle.”

Albert Einstein

 

“The good life is inspired by love and guided by knowledge.”

Bertrand Russell

 

Not intended to solicit buyers or sellers currently under contract.
©IXACT Contact Solutions Inc.

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Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.