KITCHENER-WATERLOO, ON (July 6, 2009) –A total of 722 homes sold in Kitchener-Waterloo and area in June, a 1.3 percent increase over June 2008, and the second best month on record for residential property sales through the MLS® System of the Kitchener-Waterloo Real Estate Board (KWREB). In fact, overall June sales activity was up in all categories except multi-family and land sales.

“I think what we are seeing in Waterloo region, is the resale housing market returning to its prerecessionary pace,” says Karen Shartun, President of the KWREB. “June was also the third month in a row that sales exceed 600 units, so we have some strong momentum happening in the market.”

REALTORS® of the KWREB have traded 3,174 homes year-to-date for a total value of $820,966,284, including 2,109 detached homes and 541 condominium units. This represents a 9.9 percent decrease in the total number of units sold so far this year compared to last year, a 15 percent decrease compared to 2007 (a record breaking year), and a 3 percent decrease from the 3,275 units sold in the first half of 2006.

The most active price range during the first six months of the year was for homes selling between $225,000 to $250,000 with a total of 508 sales. For homes selling in the upper most tiers, things have been quite a bit slower–in the last 6 months only 13 homes have sold for over $750,000, compared to 28 during the same period last year.

The demand for more affordably priced homes has translated into a 2.5 percent decrease in the average price of all homes sold year-to-date to $258,654.

The supply of homes active on the KWREB’s MLS® System to the end of June edged up 3.3 percentage points to 2,089 units. The President of the KWREB says she expects that sales for the remainder of the year will continue to improve, as prospective home buyers continue to take advantage of low interest rates, and the economic horizon starts to look brighter.

Consumers uncertain about current market conditions should work with a REALTOR® to develop an effective selling strategy. If you are buying, a REALTOR® will negotiate on your behalf and guide you through every step. A REALTOR® understands the local market and must, by law, look after your best interests.

Turn on music.  Turning on soft instrumental music in the background creates ambiance and a warm and cozy atmosphere during a showing.

Eliminate unpleasant scents. Opening the windows and freshening the home with potpourri or an air freshener will remove odours from cooking, smoking or the family pet.

Lighting. Lighting helps to showcase your home. Take advantage of natural light and open curtains and blinds during the day. Wiping down windows and blinds, cleaning lamps and built-in fixtures will help convince buyers that the home is well maintained.

Decorating during the holiday season. The festive season is a great time to add spark to your home, but be careful not to overdue it. It will mask the everyday appearance of your home. Add tasteful decorations inside your home and simple lighting on your property. Decorate the front of the home by hanging up a seasonal wreath on your door and placing a nice welcome mat outside. Hodge does not recommend holiday lawn ornaments, as it can make your landscape look fussy. “Keep it simple, but tasteful.”  Remember, after the holiday season displaying decorations is unfavourable.

Make home warm and cozy.  Turning on your gas fireplace will create a welcoming ambiance. Ensure the temperature in your home is set at a comfortable level. Clean air ducts for better air circulation in the home and seal window cracks to prevent drafts. Thomas urges sellers to look for condensation on windows, as this could be an indication of humidity and insulation problems.

Following these tips can ease the anxiety of selling your home when the housing market slows down and buyers are scarce. Turn a traditionally difficult time for home selling into a positive experience.

…taken from Essentials, by Michelle Malcolm-Francis.

Making the home visually pleasing. Hodge recommends removing family photos and replacing them with scenic or abstract pictures. It helps would-be buyers to imagine themselves in your home. You can even add high quality art rented from your local art gallery at a reasonable price. Your walls should have warm neutral colours. Use accessories to bring out bold splashes of colour. Painting could add extra value to your home.

Create space in your home by eliminating knick-knacks. Remember buyers don’t like clutter. Consider de-cluttering walkways, rooms, closets and storage areas. You’ll be surprised how much room you have. It’s even worth spending extra money on storing excess stuff in the storage facility because in the end it will add more value to your home.

Refresh the exterior of your home. A beautiful landscape can help you sell your home. When a potential buyer drives or walks up to your home, you want them to get excited about your property. “In the winter, the landscape is not properly represented with snow covering the property including trees, plants and grass,” explains Thomas. Begin your clean up by removing unwanted debris, fallen branches, twigs and pin needles from the walkway, deck and landscape.

Snow less yards can appear dirty with litter and windblown debris. If the weather is not icy, clear your gutter, pick up the garbage and hose off the sidewalk and driveway. Also if the weather permits add mulch around the garden beds and edging to landscape. Shovel and de-ice the walkways, driveways and curb to have a clear path for the buyers. Thomas suggests sellers remove accumulated snow and dead plants to help showcase features like an interlocked driveway.

During inspection time, a snowy landscape can benefit the seller. Icy weather can make it difficult to inspect the roof, crawlspace and foundation walls.

Hodge encourages homeowners to add a fresh coat of paint on peeling outdoor surfaces and recommends touching up hand railings, replacing door handles and old light sconces. Worn out number signs should be replaced and be visible from the street. Remember at different times of the day the home will appear differently, so showcase your home with well placed lighting. It will add a warm welcoming feeling for prospects passing your home.

…to be continued… taken from Essentials, by Michelle Malcolm-Francis.

Keys to a successful sale during the cold frosty season.

In the dead of winter, selling your home can be daunting. Cold, snowy weather and holiday festivities attract fewer home buyers. With a lot at stake sellers are forced to take extra steps in selling their home. And that’s why staging and showing your home can help speed up the sale and clinch the deal.

Braving the cold weather, buyers at this time of year are very serious. Since there are fewer homes on the market, buyers forced to relocate are more likely to find your home more attractive. Other advantages include less upkeep of the yard and contractors are more readily available.

Fortunate for homeowners, the keys to a successful sale involves lightening, brightening, organizing and de-cluttering. Here are a few tips to get your home ready for a winter sale:

Know the right asking price!

Just about everyone selling their Waterloo home asks how much effort and cost they should sink into their home to get the best selling price.

Well, of course it depends on the condition of your home. But most real estate experts agree that it doesn’t matter how good or bad your home is, basic cosmetic changes will make your house sell faster and for a slightly higher amount. But they also agree you are not nearly as likely to recover the costs of doing major renovations.

Let’s take a closer look at this. First, you have to realize that the price of your home is largely set by your location. That price is arrived at by comparing similar homes in your neighborhood and the prices assigned to other homes with similar features. That means that a beautiful home in a lower priced area in Waterloo or Kitchener will not get the same kind of offers as it would in a more upscale neighborhood in the same town. Yes, you can try to increase the value of your home by building in high-priced amenities, but it doesn’t usually work.

Just think about it for a minute. Say you were on the other side of the transaction and you had a choice of buying two homes with roughly the same features, with the only difference being the neighborhood. Same price, same features, different neighborhood. Most of us would choose the one in the more expensive neighborhood?

Even just a little bit of research shows that’s what most people do and that’s why you should not count on significantly increasing the resale value of your home by building in high-priced features. And it’s also why expensive renovating of things like kitchens and bathrooms may not be worth doing – because the value of your home will tend to be pre-determined by its location.

Instead, focus on improvements that will increase your home’s curb appeal and give the impression that you have taken care of your home, while keeping it fresh and clean – things like painting, cleaning and landscaping. When considering higher priced improvements think of them in terms of your own enjoyment.

But you have to weigh this against the high cost of doing those renovations. You’ll probably find you will not recover the full cost, and you might be better advised to simply sell for a bit lower and let the buyers do the renovations themselves.

Source – Real Estate Webs