Newsletter

The Problem With “Stuff

The late comedian George Carlin used to have a routine called, “A place for my stuff.” He was referring to the idea that, besides being a place to sleep and eat, the purpose of a home is essentially to store all the stuff you accumulate over the years.

That may or may not be true. But, if you’re like most homeowners, you probably have a lot of stuff in your home… stuff in closets, and stuff in the garage.

That’s just what happens!

The problem, however, comes when you try to sell your home. What may seem to you like a comfortable home office filled with supplies, office equipment, books and papers, may look to a buyer like an uncomfortable, small and cluttered space.

That’s the problem with “stuff”. Too much of it, and it gets in the way of buyers seeing and appreciating the great features of your home.

So, when you’re selling your home, what do you do with all that extra stuff?

One solution is to have a garage or yard sale. (If you call it a “moving sale” you’ll attract more buyers.) This is a great way to get rid of the things you don’t need anymore – and, perhaps, make a few dollars!

Another solution is to give some of the items you don’t need anymore to charity. There are many local organizations that can make good use of second hand clothing, furniture, and toys.

Finally, for all of the things you want to hang on to, but are cluttering up your home, consider renting a locker at a self-storage company.

One thing is for certain. The more spacious and comfortable each room of your home appears to potential buyers, the more likely it is that they’ll see the true value of your property and become interested.

Should We Buy Before We Sell?

The short answer is NO, not unless you can afford to buy your second property outright, or have a pre-approval that will allow you to carry two properties. Even then, there are some reasons now to do so.

The fear of not finding a new home is common, especially in this market. Everyone who sells goes through it unless they’re moving out of the area, or are planning on renting. But what would happen if you purchase a new home without first having your home sold? In today’s market you cannot go into a purchase subject to the sale of your home. Also, after your home has been sold the right home always seems to come on the market. Call it fate, or whatever you like, but things always seem to work out when you go about the process the right way.

Here is a recent story that stresses why it is so important to make sure that your home is sold before you make a purchase:

Dan had another agent come to him for advise as her client had purchased a townhouse before selling. She paid well above the asking price for the home as she was in multiple-offers. The home she purchased also had a quick closing of a month and a half. This same client then put her home on the market and managed to get an offer fairly quickly; however, the offer on her property fell apart due to financing before subjects were removed. No other offers came quickly, and the house needed a price adjustment. However, with the price the client paid for the townhouse she purchased she was unable to adjust the price of her home as she needs every dollar in order to complete her townhouse purchase.

The client explored financing options with her bank, but they were unable to extend her any financing without her home being sold. She reached out to a mortgage broker and is waiting to find out whether he will be able to help her with financing. If he can’t, the client’s purchase may fall apart and she may have to forfeit her deposit.

Even if things work out in the end, what a headache and a lot of undue stress.

The moral of the story is you should ALWAYS sell your home first.

What We Can Do To Help Relieve Some Of The Fear And Stress Of Selling Before You Buy

There are multiple ways to approach the situation of selling before you buy:

  1. Longer completion and possession dates to allow you time to find a new home
  2. A rent-back clause to allow you to remain in the home for a certain amount of time while paying the new owner rent
  3. A date adjustment clause – this is a custom clause that allows the seller to move the date for completion and possession on a certain amount of notice and up to a certain point

These are just some of the ways that we help to protect our clients.

One final point – even if you are looking online now for a property and don’t see anything, don’t fret. Properties come and go constantly. The most important thing is making sure you are in a position to act on the right property when it does come available.

Top tips for hiring a contractor

As a homeowner, you’ll likely find yourself in need of a contractor to complete a home upgrade at some point. When that time comes, you will want to find a reliable professional with the necessary skills to bring your project to fruition. Ask the right questions and you will increase the likelihood of a worthwhile investment in your home. Renovations can be a significant expense and hard to reverse once completed, which is why its always best to do your research to bring in the right people to complete your project.

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PLAY Poker Tournament Fundraiser

PLAY IS HOSTING IT’S FIRST EVER FUNDRAISING EVENT AND IT’S A HUGE POKER TOURNAMENT AND GAMES NIGHT. ENTRY TO THE TOURNAMENT IS $50 WITH $30 GOING TOWARDS THE FINAL POT FOR THE WINNERS. THE REMAINING AND BUY INS ARE FOR PLAY.

There will also be lots of fun things for the non-poker players like toonie tosses, bean bag toss, silent auction, 50/50, food, drinks, music and more. If you have a suggestion, let us know we’ll add it!

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2017 Greater Vancouver Housing Market Forecast

What you should expect in 2017 is this: a continued “cooling off” of the single detached market on the higher end, a stabilization (with possible slight increases/decreases) of homes in the middle price point (or your “typical” detached home in your neighbourhood) and continued pressure and price increases on the lower price points (condos and townhouses). With the introduction of the BC Home Partnership Plan and the first time buyer grants that come with it, as well as a claw-back of some of the foreign buyer tax rules, you can expect to see continued pressure on the lower price points for the next several years even with the increases in mortgage insurance premiums. It’s simple supply and demand. The demand for strata properties is at an all time high, with several markets across the lower mainland seeing sales to listings rations in the 80-90’s, meaning that eight or nine of every ten strata properties that are listed will sell.

To read more or to view the full report please click here