Kitchener-Waterloo Real Estate

Avoid ‘tail-light realtor’ when listing your house

Peter — Tue, 24 Apr 2012 18:09:07 +0000

I saw this short article in an Edmonton paper, and thought it was interesting.
Far too often people pick their realtor based on the price that they say they can sell the house at.. Seriously? I like getting listings, but if they don’t actually sell, what’s the point? Nobody’s happy. Here’s the article:

Question: We had three evaluations done on our home and listed with the one that evaluated it the highest, becasue he was sure he could sell it. Not only did our home not sell, but we never saw him again. We even had problems getting him to return calls. How do we make sure this doesn’t happen to us again?

Answer: What you ended up with was what is known as a tail-light realtor (or list em and leave em.. I added this..). They tell you what you want to hear, list your home, and the last you see of them are their tail lights driving away.

To make sure it doesn’t happen again, don’t make the mistake many homeowners make. They let price influence their decision on whom they hire to market their property. Choose your realtor on their experience and marketing plan, not on their ability to tell you what you want to hear.

Don’t be afraid to ask any prospective realtor questions, such as how long they have been in the business. Ask them if real estate is their only occupation. It will be hard to put a lot of energy into marketing your home when they spend all day at another occupation.

Once you decide on a realtor, then analyse the sales information and decide on a price. Make sure you are talking to a realtor with experience, not just a person with a real-estate licence. In real estate, as in life, if it sounds too good to be true, it usually is.

Peter

How to decide if you should replace your windows

Peter — Wed, 04 Apr 2012 20:35:59 +0000

One of the most prominent features of any home is the windows. When they
are well maintained they have a positive impact on the impression people
(such as potential buyers) will have of your property. The opposite occurs,
of course, when your windows look old and worn.
So does that mean you should replace your windows?
That depends on a number of factors. Window replacement can be an
expensive renovation. Here are a few things to consider before making your
decision.
• Do your windows get frost or condensation build-up on the interior
side? This could be a sign that the windows are not keeping out the
cold as well as they should.
• Do you see water infiltration or mildew on the interior sides of any of
the window sills? This means that moisture is creeping in from the
outside, and you need to get those windows repaired or replaced as
soon as possible.
• If your windows are double-paned – (two panes of glass) – check for
any signs of moisture in between the glass panes. Moisture indicates
that the thermal seal is broken and at a minimum, the glass will need
to be replaced.
• Take a look at your windows from the outside. Is the trim rotted or
cracked anywhere? Are there dark spots or any signs of rotting on
the wood frames? Repairs or replacement may be required.
• Check the operation of your windows. Do they open and close
easily? This is important because some windows, such as those in
bedrooms, are often designed to be big enough to use as an exit in
case of a fire.
• Finally, are you happy with how your windows look? Do you feel that
your property will look significantly better with new windows?
Although they are expensive, replacing windows has a lot of advantages.
Depending on the efficiency of your current windows, replacing them could
cut your energy costs by 10-20%. In addition, new windows block out more
exterior noise, making your home quieter.
Want more tips on increasing the value, and enjoyment, of your property?
Call today. Peter

When is the best time to sell your home?

Peter — Wed, 04 Apr 2012 20:33:59 +0000

If you’ve been thinking about selling your home, you might be waiting until
the “market is right”. After all, if the local market suddenly booms, your
property will likely sell for a higher price.
That may be true. However, there are other factors to consider in your
decision to list.
For example, will you be buying a new home as well? If so, then the higher
selling price will probably be offset by the higher cost of the new property.
In addition, there may be characteristics of your home that will help sell it
quickly and for a good price – today – regardless of the market conditions.
A good REALTOR® will help you make the right decision. Call today. Peter.

Informed Home Buyer/Seller Update – April 2012

Peter — Wed, 04 Apr 2012 20:23:37 +0000

The Informed Home Buyer/Seller Update is a monthly resource that I find helpful for people that are still thinking about buying or selling a property. It contains lots of useful tips to think about as you get closer to making a move.

If you have any questions or comments about this, or anything else related to real estate, please give me a call at 519.500.4696 or drop me a comment on Facebook or email me at peterhendershot@remax.net

Informed Home Buyer/Seller Update – March 2012

Peter — Thu, 01 Mar 2012 15:45:47 +0000

How Does It Work – Part 1 – Introduction

Peter — Mon, 20 Feb 2012 21:53:34 +0000

I’m always a bit surprised when I meet people and they ask me how real estate works. It’s easy for me to lose sight of the fact that for many, it’s been years since they had any dealings in real estate. I also deal with a lot of people relocating to the Waterloo Region from different countries and often the way real estate is handled is quite different. And for others, they have never had any experience buying or selling real estate at all.

I was talking to a fellow Realtor the other day who had a first time home buyer client moving into his first house and they were asking how the garbage and recylcing pick up works. For us in the business, or for those who have owned a home or several homes over the years, things like that might seem obvious, but for many, they aren’t.

I thought I’d write a short post about how buying and selling real estate with a Realtor works, so here goes.

I’ve been asked whether you have to use a Realtor to buy and sell real estate, so I will preface this by saying that you do not. There are, and always will be a percentage of people that prefer to do things on their own, and I don’t have any problem with that. I would estimate based on statistics I’ve read and heard about, that about 5% of the real estate transactions in our area are conducted without a Realtor. I do have some strong opinions on it, so I will write a separate post with my opinions on that topic at another time.

For the other 95% or so, when you decide to either sell or purchase real estate, the first step is to contact a Realtor.
Real Estate is not unlike many professions in the sense that it runs on referrals. I would estimate that 90% of my business comes directly from my immediate sphere of influence or from clients referred by these same people.

The Real Estate transaction can be, and often is an incredbily emotional situation. I think there is a perception by many that these things just come together on their own somehow. I would submit to you that this is rarely the case.

Sellers want the price that they want, for whatever reasons they feel are justified, and they want all the other terms and conditions to favour them as well. Buyers want the opposite. They want the same property for the lowest price possible with terms and conditions that are favourable to them.

Experience matters and having a Realtor that has taken families through the process hundreds of times, and can handle surprises and keep everybody calm and focussed is very important.

Choose wisely!

Informed Home Buyer/Seller Update – February 2012

Peter — Wed, 15 Feb 2012 17:39:43 +0000

Informed Home Buyer/Seller Update – January 2012

Peter — Wed, 15 Feb 2012 16:18:48 +0000

Buying Your First Time Kitchener-Waterloo Home

admin — Wed, 01 Jun 2011 15:47:38 +0000

Are you a renter who is starting to think you should be investing in your home? You probably already are aware that by buying your own home that rent money could go against your own mortgage.

And really, the time has never been better to get into home ownership. House prices are down across the U.S., interest rates are down, house selection is excellent, and there are lots of incentives for first time home buyers.

Look closely at the numbers

The place to start is to add up the numbers. How much can you afford for your monthly mortgage payment? How much will you need for monthly expenses? What sort of down payment is required and where will you get it? Start with an honest evaluation of your financial situation.

Before you even start looking, sit down with a real estate agent or mortgage adviser to help you create an affordability range. Try to keep your total monthly payment for mortgage and taxes less than 30% of your gross family income. In other words, if you earn $5000 per month, don’t spend more than about $1500 a month on mortgage and taxes. Try not to buy something at the outside limit of your affordability range. Chances are interest rates will be going up over the next few years, so it is best to make allowances for those increases.

What features do you want your house to have?

Begin by asking yourself what you need in a home. How many bedrooms do you need? Do you need room to grow over the next three or four years? Is it important to be close to your place of work, schools, parks, public transit?

Newer homes often have features not available in older ones. With a new home you will generally not be inheriting someone else’s problems. In a newer home you will usually not have to concern yourself with upgrading your kitchen, installing air conditioning, or tearing out substandard renovations done by previous owners. But newer homes also tend to lack character and are missing many of the the improvements that owners do to them.

It is not unusual for an older home to need important and expensive upgrading. Many older homes need redecorating, new carpeting or flooring, as well as kitchen and bathroom upgrading. But older homes may also have slightly larger lots, and be located in more mature neighborhoods with more extensive cultural and recreational services close by. Many older homes also have had high quality upgrades such as new windows, quality flooring, professionally finished basements, and outdoor improvements such as decks or patios.

Where do you want to live?

Most people live in cities, and many younger people seem to prefer newer subdivisions. But that is obviously not the only option – there are interesting alternatives outside of town. In a more rural setting life is generally more slow paced. But the trade off is that you may have less convenient access to things like libraries, shopping malls, theaters, and so on. Getting around will be more expensive because going places will require a car.

Buying your first home is an exciting adventure unlike any other you are likely to experience. Perhaps the best advice is to find a real estate agent who knows your area and someone whose judgment you trust.

(c)Copyright 201What features are you after?

Children Enjoy Gardens Too

admin — Thu, 03 Feb 2011 20:41:36 +0000

The days in Waterloo Region are starting to get just a bit longer and not too many weeks from now you’ll be eager to get outside and start working in the garden. This could be a good year to plant some vegetables along with the flowers you usually plant. The exercise will do you good, and growing your own crop of fresh vegetables will give you a great sense of accomplishment.

If you have children or grand children, why not encourage them to get involved too? Gardening in the K-W area can be a great experience. Most kids love to squish their hands in the dirt and seeing those plants grow from seeds to mature plants is a real experience.

Here are some helpful tips to get you started creating a garden for your children.