How October Birthdays Style Their Home

Welcome to October

Besides celebrating Thanksgiving in October, if you also celebrate a birthday this month did you know that you could have a messy home and a praiseworthy backyard. Those are two things that identify people born in October.

Those born in October can also often have vivacious personalities and can connect well with others. They’re often the life of the party. And, when it comes to making decisions in life – or in their home décor – they tend to be bold risk-takers.

If you were born in October or you know someone who has a birthday this month find out more about those born in October and the style of their homes HERE.

10 Things to Consider Before Renewing Your Mortgage

Before you renew your mortgage it is important to review where you’re at, where you want to go and what is best for you.  That involves doing a little homework before you sign for your mortgage, but it can save you thousands of dollars in the long run. 

One of the biggest errors many people make when it comes time to remortgage is not asking for better rate.  Just because you have a mortgage, it doesn’t mean you have to remain with your current lender when it is time to renew.  There could be other options that are much better for you and rate is only one thing to consider.  

Cory Davis provides you with 10 Things to Consider Before Renewing Your Mortgage at this Real Estate 101 feature through Realtor.ca

July 2020 Newsletter

In This Issue:

  • June – Local Real Estate Market Overview
  • Lower Inventory – Seller’s Market 
  • Three Reasons To Pressure Wash Your Home
  • Why It’s Harder To Refinance & Get A Mortgage
  • Projects To Transform Your Home


Local Real Estate Market Overview

The following statistics provide an overview of Single-Family Home sales from the Lakeland Association of Realtors and Barrie Board of Realtors.  If you would like a breakout for other areas or types of properties contact me and I would be happy to provide this for you at no cost or obligation.


June 2020 Market Overview









Buyer Market – Seller Market – Balanced Market 




Type of Market

Inventory is a reflection of how many homes sell in a month compared to how many homes are currently listed in the market.

Seller Market = Under 4 months (less than 120 days) of inventory. 
Balanced Market = 4-6 months (approximately 120 to 180 days) of inventory.
Buyer market = 6+ months (over 180 days) of inventory.

What type of market are we in now?

Throughout the region, a lower inventory of homes for sale in June provided a seller’s market.     




For more details on finding out what your home is really worth call toll-free line for the RECORDED MESSAGE outlining this FREE offer.  Call 1-855-227-3592 and enter code 3675 or CLICK HERE to request your home evaluation report. 




Three Reasons to Pressure Wash Your Home


You may be planning to spend more time at home this summer than ever before, so why not make your home look its best? Pressure washing can make your home look cleaner and newer, but it also has surprising maintenance benefits as well. Whether you tackle this as a DIY project or bring in a pro, here are the top three reasons you should pressure wash your home.

Prevent Mold, Mildew, and Dirt

Over time, mold, mildew, and dirt can cause your home to deteriorate. If mold and mildew makes its way through your walls into the home, it can cause health concerns, particularly for those living with allergies or asthma. Pressure washing can help prevent damage to your home and protect your family.

Prepare for Paint

Have you been thinking about repainting your home? Pressure washing it first can clear off any grime or loose paint so that you can apply your new paint to a smooth surface and get the best possible results.

Improve Curb Appeal

First impressions can leave a lasting impact on how your guests view your home, and having a clean exterior can have a dramatic positive impact on your curb appeal. Having good curb appeal can also give your home a boost in value should you decide to sell your home.

 

Why COVID-19 Is Making it Harder to Get or Refinance a Mortgage

Mortgage rates remain at some of the lowest ever seen, but many buyers are having trouble accessing them due to the current difficulty getting a mortgage. Homeowners are also having a hard time gaining approval to refinance their homes, leaving many in a tight spot if they don’t plan ahead. 

The unemployment rate of the past couple of months has caused lenders to tighten their loan requirements. Many lenders are now requiring larger down payments on mortgages as well as a higher minimum credit score. Many companies are also looking more closely at debt to income ratios and employment status before approving a loan.

Historically low refinance and mortgage rates have also caused a surge in refinance applications that has limited the amount of mortgage credit currently available. Mortgage Bankers Association reported a 16% drop of available credit in March, the lowest it has been since June of 2015. So, if you’re thinking about buying or refinancing your home, work on maintaining your credit score.  Avoid making any major purchases before your new mortgage is in place plan now to check with your bank or broker if a purchase or refinancing is on the horizon.  

 

Projects to Transform Your Home 

Thinking about making some home improvements, but not sure where to start? These projects will add value and help attract buyers should you decide to sell your home.

The Kitchen

You don’t have to completely redo the kitchen to make a big difference. If you have outdated countertops, cabinet doors, light fixtures, or a leaky faucet, just renovating those aspects of the kitchen can make a big difference! You’ll also be surprised at the difference a new backsplash can make.

The Paint

Almost every room can benefit from a fresh coat of paint, especially if you aren’t happy with the colours you have now. Start fresh or even just touching up your existing paint can make a big difference!

The Bathrooms

Does your home’s bathroom remind you of the spa? If not, it may be time for some updates. Simple changes like a new shower curtain or rug are a cost-effective way to make a big impact, but even bigger changes, like replacing a toilet or showerhead are easy to do and won’t break the bank.

Whatever this summer has in store for your family, I’m here to answer any questions you have about real estate and the current market. If you or someone you know is in the market, please let me know!  Each buyer and seller I assist provides support to Building Hope.




I’m On A Mission To Help The Homeless




For more details on “Love The Home You Buy” call the toll-free line for the RECORDED MESSAGE outlining this Guarantee.  Call 1-855-227-3592 and enter code 1383 or CLICK HERE to request more information.




Please share this information with those you know planning to buy or sell a home.


.

June 2020 Newsletter

 

In This Issue:

  • May – Local Real Estate Market Overview
  • Buyer Market – Balanced Market – Seller Market Update
  • Selling A Home During Unusual Times
  • Local Realtors Helping Support Others
  • Common Residential Home Problems And Solutions


Local Real Estate Market Overview

The following statistics provide an overview of Single-Family Home sales from the Lakeland Association of Realtors and Barrie Board of Realtors.  If you would like a breakout for other areas or types of properties contact me and I would be happy to provide this for you at no cost or obligation.


May 2020 Market Overview





 


Buyer Market – Seller Market – Balanced Market Update



 

Type of Market

Inventory is a reflection of how many homes sell in a month compared to how many homes are currently listed in the market.

Seller Market = Under 4 months (less than 120 days) of inventory. 
Balanced Market = 4-6 months (approximately 120 to 180 days) of inventory.
Buyer market = 6+ months (over 180 days) of inventory.

What type of market are we in now?




For more details on finding out what your home is really worth call toll-free line for the RECORDED MESSAGE outlining this FREE offer.  Call 1-855-227-3592 and enter code 3675 or CLICK HERE to request your home evaluation report. 

 

 


SELLING A HOME DURING UNUSUAL TIMES


With COVID-19 at the forefront of many sellers’ minds, for the time being, many home tours will start online. Actually, that’s nothing new which is why I make promoting a seller’s homes online a high priority.  But, now more than ever buyers who never even searched for homes online are now seeing the benefits of it.

Many of the virtual opportunities are things we’ve already been deploying for the past few years for clients who for one reason or another can’t view a home in person.  It helps draw attention to homes that hold a huge potential for a buyer, while also eliminating homes that don’t make sense for some buyers.  In doing so sellers reduce interruptions from buyers visiting their home who are not right for their home in the first place.     

With all that in mind, I provide my sellers with iGuide tours online that allow buyers to take a serious look at the home at their own speed. Buyers get a great understanding of the layout and features of the home without even entering it.  Check out these iGuide tours for recent listings. 
 

For buyers who want another option, I can provide a live Facetime walkthru of the home where they can see everything and ask questions while I lead them through the home online.  These types of tours now more than ever are a useful tool to help reduce the number of buyers walking through a property.

When the time comes for an interested buyer who to see a home, I provide a checklist for buyers to follow for Covid-19 protocol prior to their visit as well as provide each seller’s home with antiseptic wipes for all visitors to use while in the home.   

The main objective is to eliminate a continual caravan of people coming into a home when it is not needed.  Serious buyers naturally will want to view the property at some point in time before submitting an offer, and protecting the seller and buyer when this becomes necessary remains a high priority.  

I recommend following the practice of wearing a mask for all involved in a house tour.  We need to work together to protect each other through this time of uncertainty, but Covid-19 has not stopped the need for buyers and sellers to continue to proceed with their property needs and I remain committed to helping by providing a safe way of doing so. 

We all need to be aware and smart.  We cannot let our guard down.  I encourage the suggested tips of experts to wash hands more often than we’ve ever done before, use hand sanitizer, avoid touching our face, social distancing and wear a mask when distancing isn’t possible.  

If you are a seller or buyer I would be happy to explain in detail how I can assist.  Please  CONTACT ME.



Local Realtors Helping Supporting Others 

 

REALTORS® care deeply about the communities in which they work. The pandemic has created increased demands on our already-stressed local food banks and left many individuals and families in need of extra support. In response, The Ontario REALTORS Care® Foundation provided the Lakelands Association of REALTORS® with emergency grant funding. The following donation amounts were dispersed: Sharing Place Orillia, $1780, Burk’s Falls Food Bank, $1000; Parry Sound Harvest Share, $1500; and Minden Food Bank, $1500.  The Lakelands Board of Directors have also determined to utilize the Tragic Relief fund and have made donations to the following food banks: West Muskoka Food Bank, $1000; Gravenhurst Salvation Army Food Bank, $1000; Bracebridge Manna Food Bank, $1500; and Huntsville Table Soup Foundation: $1500.




Common Residential Home Problems
and Solutions

 

Owning a home is one of the most rewarding experiences a person can have, but it isn’t without its challenges. Eventually, many homeowners will encounter an irritating maintenance issue which they’re not sure how to handle. Here are some of the most common predicaments homeowners may run into as well as simple and effective solutions to solve the problem.

 

Leaking Roof

Minor roof leaks are often due to wear and tear over time. Typically the problem is either a loose shingle or flashing that’s no longer diverting rainfall properly. You can put an end to leaks as they occur by replacing the flashing and patching weak spots in your shingles. Recaulk exposed areas to form a water barrier. However, if the problem is more extreme, it may be time to install a new roof.  When it comes time to sell your home this is a primary area that buyers and home inspectors will look closely at.

 

Cracked Driveway

The weight of your car, heat, heavy rain and other conditions can cause cracks in your driveway. If your driveway develops minor cracks, you can repair it with crack filler. If you have larger cracks, you may need driveway patch. After you fill in the breaks, a sealant can add the finishing touches to your driveway repair.  Replacing the driveway surface although appealing doesn’t mean the replacement value will be seen in the selling price.  Sometimes a little TLC for the driveway can go along way to improve curb appeal.

Garage Door Problems

One of the most common problems you may run into with garage doors is a loud screeching sound when the door opens or closes. This is typically a result of the rollers and tracks being stuck. An easy fix is to apply some lubricant to the problem area so the system can move smoothly and result in significantly less squeaking as a result.  Taking care of little issues can have a great overall impact on the feel a buyer gets for your home.
 

 

 



For more details on “Love The Home You Buy” call the toll-free line for the RECORDED MESSAGE outlining this Guarantee.  Call 1-855-227-3592 and enter code 1383 or CLICK HERE to request more information.

 



Please share this information with those you know planning to buy or sell a home.

Home Furnishings Trend: Brass is Back

For years brass has been on the sidelines, but it’s making a comeback. Here are ways homeowners can incorporate the finish to add glamour and help homes stand out.

After years of chrome, stainless steel, and nickel being the shining stars of interior metals, brass is back and starting to steal the show.

As with many home furnishings trends, the comeback was inspired by what’s occurring in fashion. In this case, gold and rose gold watches became influencers a few years ago, says Chicago designer Tom Segal of Kaufman Segal Design, who thinks that home furnishings styles tend to be cyclical. Now he’s adding small brass details to rooms in the same way a gold watch might peek out of a shirt cuff.

READ THE FULL STORY HERE.

May 2020 Newsletter

In This Issue:

  • April Lake Country Real Estate Market Overview
  • Buyer’s Market – Balanced Market – Seller’s Market Update
  • 3 Ways To Buy Orillia Area Homes For Less
  • 2020 RE/MAX Liveability Report – Best Barrie Areas
  • 11 Costly Home Inspection Pitfalls
  • 3 Home Projects To Tackle
  • Love The Home You Buy Guarantee
  • 3 Tips For Selling A Home During Coronaviris Crisis

Lake Country Real Estate Market Overview

The following statistics from the Lakeland Association of Realtors are compiled for the Lake Country Region which includes Orillia, Oro-Medonte, Ramara and Severn are for Single Family Homes. If you would like a breakout for other specific areas or types of properties contact me and I would be happy to provide this for you at no cost or obligation.

April 2020 Market Overview

Last month in the Lake Country region residential home sales declined in both average price and number of homes sold compared to last year at this time, and there was an increase in the average number of days to sell a home compared to last April.

Average home sale prices dropped 4% year to year for the month of April. Average Days on the market (average days to sell a home) increased by 24%.

There was a 3% decline in the number of homes listed for sale this April compared to April 2019 and a 43% decline in the number of home sold last month compared to April 2019.

It is no surprise that like most businesses the local real estate market is feeling the effects of Covid-19, but with many buyers and sellers ready to move forward as self-isolation guidelines ease, the normal activity in real estate at this time of the year could simply be moving forward into what could become a very active summer market.

Should you wait to buy or sell?

There is no right answer to that question as it needs to be decided according to your comfort level and your needs.

Will the market see homes prices slashed?

Probably not. Early activity for the year showed solid market growth prior to the Covid-19 crisis and many buyers and sellers who were planning to do something prior to self-isolation coming into effect, still plan to move forward with their plans this year once the situation eases.

Buyers Market – Sellers Market – Balanced Market Update

Type of Market

Inventory is a reflection of how many homes sell in a month compared to how many homes are currently listed in the market.

Seller’s Market = 4 months (approximately 120 days) of inventory or less.
Balanced Market = 4-6 months (approximately 120 to 180 days) of inventory.
Buyer’s market = 6+ months (approximately 180 days) or more of inventory.

What type of market are we in now?

At the close April (2020) it was a Buyers Market for Freehold Single Family Residential Homes in the Lake Country region. The inventory of homes at the close of April was 8 months inventory in the combined areas of Orillia, Oro–Medonte, Ramara and Severn which was double of what it was in April 2019.

This is no surprise as most buyers were self-isolating which has reduced the number of sales for the homes that are on the market. Although the number of homes listed in April was lower than last year, the number of active buyers dropped more significantly.

It is expected that most buyers who have been in a holding pattern due to self-isolation will become active buyers in the coming months reducing the inventory level to a more balanced market. If sellers don’t move forward at the same rate as home buyers re-entering the market, the inventory level could actually push things towards more of a seller’s market. At this time it is more likely to see the summer become more of a balanced market.

3 Ways to Buy Orillia Area Homes for Less Money

If you’re like most homebuyers, you have two primary considerations in mind when you start looking for a home. First, you want to find the home that perfectly meets your needs and desires, and secondly, you want to purchase this home for the lowest possible price.

When you analyze those successful home buyers who have been able to purchase the home they want for thousands of dollars below a seller’s asking price, some common denominators emerge. While the negotiating skills of your agent are important, there are three additional key factors that must come into play long before you ever submit an offer.

This topic has been the subject of extensive analysis by industry experts, and a summary of their findings, and a specific step-by-step purchase plan for homebuyers, can be found in a new special report called “Homebuyers: How to Save Thousands of Dollars When You Buy”.

This free report outlines the psychology of how a seller sets their asking price and gives you 3 simple steps to follow before you even set foot in a seller’s home, which could help you to successfully slash thousands of dollars off the price of the home you want.

If you are planning to purchase a home in the next six month you will find this report of interest. The FREE REPORT can be requested HERE

Best Places to Live 2020: RE/MAX Canada Liveability Report

While Canadians from coast to coast to coast isolate themselves from the many local enjoyments they derived from their neighbourhoods prior to COVID-19, their genuine love for their local community offers many glimmers of hope in the months ahead. In our newest report, RE/MAX explores some of Canada’s best places to live, and what makes them so.

The RE/MAX 2020 RE/MAX Liveability Report explores all the qualities that make a neighbourhood “liveable,” such as access to green space, retail, transit, entertainment and more, and ranks 300+ of Canada’s Most Liveable Neighbourhoods. See the findings below and share the results with your clients and prospects!

Barrie – Most Liveable Areas

In the City of Barrie, the Most Liveable Neighbourhoods include.
– Ferndale
– Essa
– Bluewater Trail
– Crimson Ridge
– Pioneer Trail
– Camelot Square
– Plunkett

You can check out the complete RE/MAX 2020 Liveability Report HERE.

11 Costly Home Inspection Pitfalls

Before you list your home for sale, it is critical to read this FREE Report reviewing 11 of the most common inspection pitfalls. Failure to understand these traps could cause costly delays in the close of your home or, worse, turn prospective buyers away altogether.

If you are planning to sell your home in the next six months you will find this report of great interest. The FREE REPORT can be requested HERE.

3 Home Projects to Tackle While Social Distancing

Are you running out of productive things to do at home? These five spring cleaning projects go beyond cleaning out the junk drawer!

Change up your living space.

Tired of the same wall colour? Paint it! Want to look at something new? Try switching your wall decorations from a different room and use them in your main living space. Got a lot of unused wall space? Create a gallery of photos, drawings, images, and things that make you happy. Rearranging the furniture in your living space will also create a new atmosphere you can enjoy.

Deep clean the kitchen.

If you haven’t had the chance to deep clean the kitchen, now’s a good time to start. Take everything out of the cabinets so you can wipe them down inside and out. While everything is out, give your seldom-used dishes and appliances a good cleaning. Don’t forget to sanitize your knife block and clean out the microwave and oven!

Clean the baseboards.

Take some time to clean the baseboards in your home. Some soap and water or a magic eraser will do wonders. Once they’re clean, you can also freshen them up with a fresh coat of paint. You’ll be surprised at what a difference it will make.

As we make our way through these challenging times, know that I’m sending my best wishes to you and yours. Stay safe and feel free to reach out if there’s anything I can help with.

Learn more about my Love The Home You Buy Guarantee HERE

3 Tips for Selling a Home During the Coronavirus Crisis

Selling a home is can be stressful at any time, even more so with everything else going on in the world today. Many are choosing to wait until things return to normal to sell their homes, but other people don’t have a choice. If you need to access your home’s equity to get you through these times, if you recently inherited a home you don’t plan to keep, or if you need to downsize or upsize, you may find these tips for selling during the coronavirus crisis helpful. I would also be happy to explain a thorough plan action on how home sellers and buyers can accomplish their real estate needs safely during this time of self-isolation.

Price to sell.

The coronavirus crisis is impacting home values across the country, but the effect is temporary. List your home to sell, but don’t set the asking price too far below what you would have listed it for before the crisis began.

Add a coronavirus contingency.

Buyers may have trouble coming out to view your home or finding inspectors and appraisers to assess the current condition of the house. Adding a coronavirus contingency clause to your contract that allows buyers to postpone the closing if coronavirus derails the process can make your listing more attractive. I can explain and handle all this in your transaction.

Make the most of the listing photos.

Make sure your home puts its best foot forward by making basic repairs and taking time to do some basic staging. Simple repairs and upgrades like replacing torn window screens and adding a fresh coat of paint can make your listing more appealing. Likewise, tidying and decluttering your home before the listing photos are taken can make your home seem more spacious.

Please share this information with those you know planning to buy or sell a home.

April 2020 Newsletter

In This Issue

  • March Real Estate Market Update
  • What You Need To Know About Deferred Mortgages & Rent Payments
  • A Big THANK YOU
  • Spring DYI Myths
  • 3 Tasks To Complete Before You Sell Your Home

It has been an interesting entry for spring this year.  With all that is going on, the month of March actually had growth when it comes to residential home sales in Lake Country compared to last year at this time.   What unfolds in the coming months will be interesting and I will keep you up to date on the local marketplace with each month’s newsletter.

In this month’s newsletter are the most recent statistics that show an active real estate market for single-family homes in the month of March.  

If you are currently in NEED of buying or selling a home there are ways to handle this situation with safety in mind.  However, needing to buy or sell a home as you know is far different than wanting to buy or sell during this time of self-distancing.  If it wasn’t for servicing a great need, real estate would not have been included as an essential service.  Please consider this in your real estate considerations.   

The Real Estate Council of Ontario this week issued the following statement.

“The Government of Ontario has updated its list of non-essential businesses in response to the ongoing COVID-19 pandemic. Although real estate services are still considered essential, the government has prohibited the hosting of open houses, effective 11:59 PM on Saturday, April 4, 2020.

Real estate brokerages, brokers and salespeople must cease hosting and attending open houses. In addition, RECO strongly recommends that brokers and salespeople follow the direction of health officials by limiting showings to situations where they are absolutely necessary.”

I would be happy to answer any questions you have and discuss your options and what can be done to assist you with your real estate needs while following all the guidelines that are in place.  

The safety of my buyers and sellers, as always, remains a top priority and if delaying a purchase or sale is best for you at this time I will be the first to recommend it.  If there is a great need right now I can explain the options to take to ensure your needs are met while maintaining the safety of you, your family and others.   

Local Real Estate Market Update

The following statistics from the Lakeland Association of Realtors are compiled for the Lake Country Region which includes Orillia,  Oro-Medonte, Ramara and Severn are for Single Family Homes.  If you would like a breakout for other specific areas or types of properties contact me and I would be happy to provide this for you at no cost or obligation.   

March 2020 Market Overview

Last month in the Lake Country region residential home sales had growth in both price and homes sold compared to last year at this time. 

Average home sale prices are up 19% year to year and the days on the market (average days to sell a home) dropped from 51 days last March to 33 days last month.  

There was a 5% growth in the number of homes listed for sale and a 19% growth in the number of home sales.  

Buyers Market – Sellers Market – Balanced Market

Type of Market

Inventory is a reflection of how many homes sell in a month compared to how many homes are currently listed in the market. 

Seller’s Market = 4 months (approximately 120 days) of inventory or less.
Balanced Market = 4-6 months (approximately 120 to 180 days) of inventory.
Buyer’s market = 6+ months (approximately 180 days) or more of inventory.

What type of market are we in now? 

At the close March (2020), it was, for the most part, a Balanced Market for Freehold Single Family Residential Homes in the Lake Country region.  The inventory of homes at the close of last month was 4 months in the combined areas of Orillia, Oro–Medonte, Ramara and Severn which was  about the same as in March 2019.

What You Need To Know About
Deferred Mortgages & Rent Due During Covid-19

I contacted three area professionals dealing with mortgages to get their thoughts on three questions concerning mortgages in relation to the current situation with Covid-19.

The questions:

1)  What advice would you give to someone who has just lost their job because of Corvid-19 and is concerned about how to pay their mortgage?

2)  What advice do you have for someone still employed who has a mortgage renewal in the next six months?

3)  What advice do you have for someone who has lost their job because of Covid-19 and has a mortgage renewal in the next six month?

I provide their answers in the video below

 

THANK YOU, ESSENTIAL SERVICE WORKERS

I just completed fourteen days of self-isolation after returning from the U.S. and was more than happy to participate in this requirement. 

We all need to take the required guidelines seriously and do our part in following what the experts are telling us to do at this time as there is still much to learn about what we are all going through. 

 

I applaud the amazing efforts of nurses, doctors, hospital staff as well as those in emergency services, essential transportation services, grocery store employees, pharmacy staff, shelter staff, cab drivers and the endless list of people who daily continue to go above and beyond to serve others at this time.    

THANK YOU – You Remain In My Prayers

Jack

Spring DIY Myths

Spring is here! The weather is finally turning nice, making now a great time to learn the truth about Do-It-Yourself projects and implement some fantastic technology upgrades in your home. 

If you are looking for a way to use your time in a productive way while at home, you can’t do much better than taking on a new DIY project. However, before you pull out your hammer and nails, familiarize yourself with some common DIY myths.

Myth 1: You’ll Save Money with DIY

Doing a job yourself will remove labour costs and with simple projects, this is definitely a good option. However, there are many home improvement projects that will benefit from the experience of a trained professional. Trained experts know what products to use, already have the necessary tools, and will know the quickest and easiest way to complete your project. Also, if you are not handy, the work you attempt to do might actually cause bigger issues by creating an overall poor impression of your home.  One repair or upgrade that clearly shows that it was not done by a professional in the trade can have a potential buyer questioning everything about your home.

Myth 2: Weekend Projects

Many of the projects you find online that are advertised as “weekend projects” may end up taking much longer. You never know when the need for a different tool, screw, or weather will delay your project. So, be prepared for your weekend project to take a little longer.

Myth 3: DIY Projects Don’t Need Inspections

Unless your home-improvement project is a cosmetic update, such as new paint or deck staining, there’s a good chance you need a permit, inspection, or both. If you fail to complete these steps and someone is hurt as a result, you could be liable for the injuries.  You also might be asked to supply proof of a building permit by a buyer.

3 Tasks to Complete Before You Sell Your Home!

Do you need a bigger home or a space that more closely matches your lifestyle? Do you want to be nearer your family or job? There are many reasons to sell your current home. Give me a call once you know what yours is, and then I can help you through these steps to get started and during this time of physical distancing with Covid-19 we can do this together through a video chat while going room to room through your home to help you prepare for your sale.

Overview Of Your Home

Once you have the reason why you want to sell your home firmly in mind, we’ll move through your home and identify any areas buyers may note as less than ideal. Even minor details such as wall scuffs, faded paint, or older light fixtures could impact a buyer’s opinion of your home.

Make Repairs/Upgrades

After identifying potential problem areas, take the opportunity to make repairs and upgrades to present your home in its very best light. Investing a little time and money in your home before you list can help it sell faster and for a higher price when the time comes to sell.

Stage your home.

Once your home is in top shape, it’s time for staging. The most important part of the staging process is decluttering. Clear out your closets and cabinets and remove bulky and non-essential furniture to make your home feel larger. Also, check this blog I posted earlier on the Three C’s In Selling Your Home

For more staging tips or information about buying or selling your home, give me a call! If you have time on your hands, now is a perfect opportunity to prepare your home for a sale down the road and in a time of physical distancing we can hook up through a video chat and go through your home together. I’m always here to help!

Get Monthly Newsletter In Your Email 

Sign up for to receive my monthly newsletter in your email HERE.

Credit Scores and Mortgages

The last five years has once again shown that rising house prices make buying the right house a good investment. However, that can’t be said for all buyers. 

With the wrong mortgage, even the right house can turn into a financial disaster for a buyer.

The rules surrounding being approved for a mortgage can be frustrating for some, but they are in place to actually protect you from heading into something that is not right for you. 

 

Simply put, finding a mortgage while having a poor credit rating isn’t totally impossible, but what becomes possible isn’t always good for you. You need to ensure you are getting into a manageable mortgage or your dream of getting a house can quickly become a long term nightmare.

Among other things considered in approving a mortgage, the lender checks credit scores. To qualify for the best interest rate, you typically need good credit and good credit scores. Most established mortgage lenders do not offer loans to people with bad credit, but some lenders might lend to borrowers with lower credit scores.

For a buyer recognized as having a low credit score the mortgage funds, if secured, will normally come with a higher interest rate than the average posted rates from leading lenders. The reason for the higher rate is understandable.  The lender sees the borrower as a higher risk. The source of funds for lower credit score buyers can sometimes be found through private lenders who are willing to take a chance on someone with a lower credit score, but the private lender will want a higher return in doing so.

In Canada, credit scores range from 300 (just getting started) up to 900 points, which is the best score. 650 is the magic middle number – a score above 650 will likely qualify you for a standard loan while a score under 650 will make things difficult.  

Whether you have a good credit score or a low credit score it is advisable to shop around for the best mortgage rate and mortgage terms. You need to know in advance of agreeing to a mortgage of any possible hidden costs in the event you ever need to be relieved of the mortgage commitment down the road. 

As an example, there might be a penalty if you were to sell your home prior to the expiry date of the terms of the mortgage you agreed to. You also need to ask if your mortgage would be portable to another home purchase and if there is any cost in doing so.

There can be large financial penalties with some mortgages when you go to sell and you have not reached the full term of your current mortgage.

Higher interest rates can mean higher mortgage payments and a can also mean a longer time to pay down the mortgage principal depending on your payment schedule which can be a huge added expense over the long haul.  

Being approved for a loan can be a happy day for a potential buyer, but it doesn’t necessarily mean you should get over-excited until you do your homework about the terms for that approved mortgage.

Deal with a trusted lender who clearly outlines all the details of your mortgage. There are many banks, credit unions and mortgage brokers who can assist you in this area and I would be happy to provide you with several contacts. 

Whatever you do, don’t stick your head in the sand to many of the realities that exist surrounding getting a mortgage from just anyone.

There is no cost or obligation for you to utilize any of my buyer services including details you should consider when getting a mortgage and how to go about it.   I would be happy to answer some of your questions and put you in contact with a qualified mortgage consultant. Contact me if I can assist in any way.

2020 Real Estate Forecast

RE/MAX is out with the 2020 outlook for home sales across Canada and it is looking like another growth year for home prices.  Although it could be a seller’s market in many larger cities, it is looking like a balanced market locally.  

On a national level, the forecast is for a 3.7% increase in the average price for homes across Canada.   For the most part, consumer confidence is fueling the real estate market heading into 2020.

  • 51% of Canadians are considering a home purchase in the next five years.  That is up from 36% at the same time last year.  
  • Only two in 10 Canadians say that the mortgage stress test negatively affected their ability to purchase a home in 2019.
  • As more Canadians have adjusted to the mortgage stress test and older Millennials move into their peak earning years, it is anticipated that they will drive the market in 2020.

REMAX provides a more detailed city by city outlook for 2020 in the full report available HERE, but locally it is looking like Simcoe County could actually grow more than the national average.  The City of Barrie is predicted to reach 5% growth in 2020 which will directly affect many other areas such as Orillia.  

Real estate remains a good investment and the trend continues to show steady growth for 2020 as it has in the past five years.  As of the start of December, it looks like 2019 will end with about 5% growth in average homes sale prices for the area of Orillia, Oro-Medonte, Severn and Ramara.    Below is a look at how the average price for homes has changed in the Lake Country region over the past 5 years. (2019 is the average as of the start of December when posting these figures). 

                           (Lake Country 2014 – December 2019)

                                (City of Barrie 2014 – December 2019)

With the latest REMAX forecast for 2020 indicating a 5% growth in 2020 in the Barrie area it appears that next year should remain a balanced market in the Lake Country region as well and homes sales in 2020 should be much like 2019 for the area with an average increase slightly above the national average.

The full REMAX Barrie marketplace overview can be found HERE,