Cedarglen Realty Services Inc.


Cedarglen Realty Services Inc.

Full Description


We are a Calgary Real Estate Brokerage with over 25 years of market experience and market knowledge in the Calgary area. We help you to Buy Smart, Pay Less and Get More. Check out our free Home Seller Guides and our First Time Home Buyer Report for great information you need to know.
We also have a guarantee program where we will buy you home if it is not sold in 90 days. Call or email for more details. Sign up for our monthly newsletter to stay up to date with the Calgary Real Estate Market.

  • Whats ahead for Real Estate in 2019 for Calgary? 15 January 2019 What’s Ahead for Real Estate in 2019?

    As we begin another year, everyone wants to know: “Where is the housing market headed in 2019?”

     The Canadian real estate market experienced a cooldown in 2018 following years of rapid growth in some provinces.  Calgary and Alberta have been feeling the cool down for a few years now with major job losses.  Another factor affecting the market is the numerous interest rate hikes as well as the stress test. To help guide you through this shifting landscape, we’ve summarized some of the expert predictions and key factors expected to shape the housing market in 2019 and beyond.

    SALES LEVELS WILL STABILIZE

     A combination of rising interest rates, provincial policy changes, and a newly-implemented “stress test” requirement for mortgages pushed sales activity to a five-year low in 2018. However, economists expect the impact to taper off over time due to positive economic fundamentals: a strong economy, low unemployment, rising incomes, and rapid population growth.  Alberta will most likely continue to struggle without the pipeline project moving forward.

     “Far from a sign of trouble, we view this cooling constitutes as a healthy correction that would prevent overheating conditions from re-emerging in parts of Canada such as the Vancouver

    and Toronto areas. We expect a modest recovery to take shape in 2019,” noted the Royal Bank of Canada in its Canadian Housing Market Forecast. “We see little risk of a downward spiral because demand and supply conditions are balanced in the majority of local markets and expected to remain so over the forecast horizon.”1

     What does it mean for you? If you’ve been scared off by reports of a market slowdown, it’s important to keep things in perspective. Policy changes were put in place to cool down an overheated market that had led to increased debt levels, decreased affordability, and historically-low inventory levels. A gradual and sustainable pace of growth is preferable for long-term economic stability.

    PRICES WILL HOLD STEADY

     Economists expect prices to hold steady this year, rising slightly to keep pace with inflation. While the national average price declined by 4.2 percent in 2018, the Canadian Real Estate Association predicts it will rebound slightly this year by 1.7 percent depending on where you live.2 

    The Canada Mortgage and Housing Corporation also expect prices to remain high, but stable.

    Calgary will most likely see prices coming down on homes but if you are staying in the market you will not affect you as much.  “By 2020, demand is expected to continue to shift towards relatively less expensive housing options such as apartment condominiums. This combined with slowing growth in economic conditions will lead to a modest average price growth over the forecast horizon.”3

    The Royal Bank of Canada agrees, cautioning that “would-be buyers hoping for a meaningful [price] break will likely be disappointed—we don’t expect aggregate prices to fall on an annual basis either this year or next.”1

     What does it mean for you? If you’re a buyer waiting on the sidelines for prices to drop, you may want to reconsider. The current sales slowdown has made many sellers more willing to negotiate. Don’t miss out on the most favourable market we’ve seen for buyers in years.

     NEW CONSTRUCTION WILL SLOW

     The Canada Mortgage and Housing Corporation predicts new home construction will trend down over the next two years from a 10-year high in 2017. “Single-detached housing starts are anticipated to decrease over the forecast horizon. Construction of this housing type will continue to be limited by residential lot availability, but also by elevated price and borrowing costs in some major CMAs that represent an important portion of national starts.”3

     However, economists expect the decline to be gradual. According to Fotios Raptis, a senior economist at TD Bank, “a steep downturn in homebuilding nationwide appears unlikely. Canada’s population is on the rise, medium-term income growth should remain healthy, and most markets are generally not overbuilt.”4

    What does it mean for you? Buyers will continue to have options in new construction. But the decreased rate of supply should help prop up the resale market, which is good news for sellers.

    INTEREST RATE HIKES WILL TAKE A BREATHER … FOR NOW

     After a prolonged series of interest rate hikes, the Bank of Canada announced in December that it will likely slow its pace of rate increases. “We no longer expect the Bank of Canada to hike its policy interest rate in January. Spring 2019 now appears to be the more likely timing, allowing for the bank to ensure that the growth narrative is back on track,” commented Brian DePratto, a senior economist with TD Bank.5

     At the same time, the impact of the mortgage stress test has slowed the pace of new mortgages being issued by traditional lenders. So even as funding costs have risen, banks have been hesitant to raise the 5-year qualifying rate. In its latest Mortgage Rate Forecast, the British Columbia Real Estate Association predicts that the 5-year mortgage rate will hold steady this year—and may even decline in the first quarter.6

     What does it mean for you? If you currently have a variable rate mortgage, the bank’s revised policy should offer some welcome relief. And if you thought rising interest rates would prevent you from buying a home this year, you may be pleasantly surprised.

     WE’RE HERE TO GUIDE YOU

     While national real estate numbers and predictions can provide a “big picture” outlook for the year, real estate is local. And as local market experts, we can guide you through the ins and outs of our market and the local issues that are likely to drive home sales and values in your particular neighbourhood.

    If you have specific questions or would like more information about where we see real estate headed in our market, let us know We’re here to help you navigate this changing real estate landscape. 

    START PREPARING TODAY

    If you plan to BUY this year:

     Get pre-approved for a mortgage. If you plan to finance part of your home purchase, getting pre-approved for a mortgage will give you a jump-start on the paperwork and provide an advantage over other buyers in a competitive market. The added bonus: you will find out how much you can afford to borrow and budget accordingly.

    Create your wish list. How many bedrooms and bathrooms do you need? How far are you willing to commute to work? What’s most important to you in a home? We can set up a customized search that meets your criteria to help you find the perfect home for you.

    Come to our office. The buying process can be tricky. We’d love to guide you through it. We can help you find a home that fits your needs and budget, all at no cost to you. Give us a call to schedule an appointment today

     If you plan to SELL this year:

     Call us for a FREE Comparative Market Analysis. A CMA not only gives you the current market value of your home, it will also show how your home compares to others in the area. This will help us determine which repairs and upgrades may be required to get top dollar for your property, and it will help us price your home correctly once you’re ready to list.

    Prep your home for the market. Most buyers want a home they can move into right away, without having to make extensive repairs and upgrades. We can help you determine which ones are worth the time and expense to deliver maximum results.

    Start decluttering. Help your buyers see themselves in your home by packing up personal items and things you don’t use regularly and storing them in an attic or storage locker. This will make your home appear larger, make it easier to stage … and get you one step closer to moving when the time comes

    Sources:

          RBC Canadian Housing Market Forecast – http://www.rbc.com/economics/economic-reports/pdf/canadian-housing/housingforecastAugust2018.pdf

          CREA Resale Housing Market Forecast Update – https://www.crea.ca/news/crea-updates-resale-housing-market-forecast-4/

          Canada Mortgage and Housing Corporation Housing Market Outlook – https://www.cmhc-schl.gc.ca/en/data-and-research/publications-and-reports/housing-market-outlook-highlights

          TD Economics – https://economics.td.com/ca-housing-starts

          TD Economics – https://economics.td.com/ca-boc-interest-rate-announcement

          BCREA Mortgage – http://www.bcrea.bc.ca/docs/economics-forecasts-and-presentations/mortgagerateforecast.pdfRate Forecast

     

  • How to Price My Home For Sale In Calgary 12 December 2018 “… Your home is your castle–even when it’s for sale…”

    There are many reasons why it is important to price a home correctly in Calgary and also to market it properly.

    Let’s say your terms are competitive and your timing’s clearly set. Now, what about your asking price? Without question, the price is your most important sales tool. The period of best opportunity for selling a home in Calgary at a reasonable price is the first four weeks after it is put on the market. Buyers who have seen most available listings are waiting for just the right house to come on the market. If your house is priced right from the beginning, you are in the best position to attract the maximum number of buyers able to pay the price your home is worth – and to sell your home within your timetable.

    If your house is underpriced, you may be swamped with lookers and perhaps get many offers. But you could lose thousands on one of your family’s largest investments.

    If your house is overpriced, lookers are apt to be few and far between, with little chance of any offers to pay your unrealistic price. You may lower your price later, but by that time you will have missed many of the most interested buyers.

    How Do You Set the Right Price? Arriving at an asking price involves up-to-the-minute research and experienced judgment. Besides enlisting Waller Real Estate Group help in checking out the current real estate market conditions and financing trends, the basic steps include:

    Measuring your home against similar neighbourhood homes that have recently been sold or are currently on the market.

    Determine what features make your house stand out among others currently on the market. Buyers are comparison shoppers. Weighing the spending of a reasonable amount of money on cosmetic fix-ups that might enhance the marketability of your house and earn the highest possible sale price.

    The right price is usually within 5 of market value (a constantly changing factor) and usually results in a fair-dollar sale within a reasonable amount of time. As we say, “price sells.” Why is overpricing risky? A price of more than 5 over market value may have these results:

    Buyers may resist inspecting your home because they can find better values elsewhere.

    Potential buyers who can’t afford the price don’t bother to look or make offers.

    A buyer willing to pay an over market price may have difficulty getting financing. Lenders may not approve a loan if the appraisal is lower than the contract price. (The delay from a failed sale can mean missing out on the critical first 30-day marketing period.)

    Your unsold home will begin to get “stale,” as the marketplace assumes there is “something wrong” with the house.

    To make up for lost time you might be inclined to lower the price below competing houses in order to move it.

    Is it Ever Smart to Under Price? Setting a price below market value usually isn’t preferable because you may be losing money. If time is more important than money and you need a faster-than-average sale, you may consider setting your asking price to just below what the other comparable homes in your area are listed for to attract the greatest number of prospects. Market value delivers the optimum number of prospects at the best price in a reasonable time. When you’re ready to sell your home, take advantage of Waller Real Estate Group real estate expertise to help you price your home to sell. How a Market Analysis Helps Price it Right Only a professional market analysis can give you the accurate, reliable foundation you need to price your home right. When you ask Waller Real Estate Group to make a CMA analysis of your home, here is what you can expect:

    Evaluation of your home’s location, lot size, age, size and condition; the number of bedrooms, baths, total rooms; the kinds of extra features you have and any recent improvements you have done.

    Examination of the condition and appearance of your home’s exterior and interior. Waller Real Estate Group can help you determine what repairs or refurbishing may be needed to sell your home at its best price.  We can also send our Home Stager to help you make sure your home is ready for the professional photos and for showings.

    Review the assessed value of your home, the city tax assessment is always higher or lower than what it should be.

    Comparison of your home with similar area properties currently for sale and recently sold.

    Note current real estate market conditions and also current interest rates trending.

    If you would like a Calgary Real Estate Professional and Honest advice call us at 403 875-3488.  Following our marketing strategy will mean more profit for you and a hassle free transaction.

  • Listing REALTOR® vs Buying REALTOR®: Which is the Best Choice for Calgary Alberta? 12 December 2018 When you’re dealing with buying a home you may wonder which is a better choice for you.  Should you deal with, the Listing REALTOR® vs the Buying REALTOR®.  It’s always advisable to have your own REALTOR® and not go to the listing REALTOR®. This is because there are aspects under the Laws of Agency in Alberta that can put buyers who go to the listing REALTOR® at a real disadvantage.

    When a member of the public goes directly to the listing REALTOR®, it puts the listing REALTOR® in a position where he represents both sides. The question that comes up under the law is, “How can the listing REALTOR® possibly represent both parties equally and fairly?” Because of this, when the listing agent represents both the buyer and seller, he/she becomes a facilitator, and cannot legally give advice in the same way he or she could if they represented only one party.

    Two of the biggest points on this are price and motivation. A buyer always wants to know the seller’s motivation This is something the buyer’s agent can try to find out, but by law, the listing agent can’t discuss price and motivation with the buyer.

    Consider the following scenario:

    The listing REALTOR® shows the buyer the property and the buyer loves it. The buyer, looking for expert advice, asks the listing REALTOR®, “How much should I offer?” The listing REALTOR® has to, at that time explain that he/she cannot discuss price and motivation and therefore can’t answer the question of how much the buyer should offer.

    The only thing the listing REALTOR® can do is provide a list of homes that have sold in the area and at what price, but can’t discuss price on the specific home since he/she represents both the buyer and the seller.

    The inability of the listing REALTOR® to discuss price puts the buyer in a position of not knowing what to do. The buyer then has to do his best to figure out how much to offer. When he/she sends that price to the listing REALTOR®, the listing REALTOR® then communicates that to the seller.

    The seller then naturally wants advice from the listing REALTOR® regarding how much he/she should counter. At that point, the listing REALTOR® must say to the seller, “I cannot discuss price or motivation because I’m working with both sides here.”

    At that point, the seller might come back and say, “OK. Well, I’ll pull this number out of the air and go back to the buyer.” And then the buyer will end up pulling a number out of the air and the buyer and seller will go back and forth until they hopefully end up somewhere in the middle. There cannot be any advice from the listing REALTOR® through that process. Negotiating price is a very important matter, and one of the most valuable assets you get with and expert REALTOR® working for you.

    In contrast, if both parties are working with their own REALTORS®, the buying REALTOR® will come in and run all the stats. He will also investigate the market to see which house the seller used as a direct comparable in order to price the house in the first place. That little piece of information is available most of the time and obtaining it is part of the advice that the buying agent will give to buyer throughout the process in order to get them the best possible value and to ensure they don’t pay more than necessary.

    The thing that motivates people to go directly to the listing REALTOR® is they often think they’ll get a better price and less commission will be paid since only one REALTOR® is involved.  However, this isn’t generally the case because there is a good chance the listing REALTOR® has already negotiated a lesser commission with the seller if they happen to bring their own buyer. I get this question all the time when listing a property.

    On top of that, when the buyer goes directly to the listing agent, he puts himself in a position where he can’t receive any advice on price. Additionally, the listing REALTOR® already has some degree of relationship with the seller and in fact the seller could be a second, third or fourth time client for them or a friend and they may naturally feel more loyal to the seller. This is a big issue under the Laws of Agency.

    For important information you should know Read our Free First Time Home Buyer Report, and visit our Home Buyer page for more great information. If you are ready to start your search, don’t miss your dream home when it goes on the market. Simply fill out the short criteria form and we will get you on the list today.

  • Is it a Good Idea to Buy a Home Before I Sell Mine in Calgary, Alberta? 12 December 2018 Is it a Good Idea to Buy a Home Before I Sell Mine in Calgary, Alberta?

     

    Whether or not to buy a home before selling your current home is the Catch 22 in real estate. When you do so, you’re taking a risk in that, depending on the market condition. Generally, it’s not advisable to do so, but if you’re in a rising market, it takes away some of the risk. However, if you’re in a declining market, don’t do it, unless you have lot’s of equity in your home.

    It’s important to select a REALTOR® that understands market conditions, because that is the main factor that will influence your decision. Even in a balanced market, one that isn’t rising or declining and is sitting fairly constant, it’s bad advice to buy a home before selling yours.

    Our average possession in Calgary range somewhere between 45 and 60 days, so that’s how much time you have to find a buyer and get your money out of your home so you can close on a new one.

    When you buy a home before you sell yours, you run the risk of carrying two mortgages unless your bank has approved you for two. If your bank had said, “You know what? You guys make enough money. If your home doesn’t sell, you can carry two,” you still have a decision to make. Even if you can carry two, how long would you want to do that?

    If you’re building a home, the possession in Calgary is seven to eight months. So if you’re building a home in Calgary, you have some real tough decisions to make. If you only want to move once, you’re pretty much forced into buying a home without selling because if you just wanted to sell your home now and you purchase the new one that you’re having built and the possession is seven or eight months out, your chances are very slim of finding a buyer that is going to give you a seven or eight months’ possession.

    Therefore, you’re basically stuck dealing with a 90 or a 120-day possession and running the risk of the market doing whatever it’s going to do in the time you were waiting. The market could go up and work to your advantage. Or it could go down. In that situation, the right thing to do depends on your risk tolerance. If you’re a high risk person, you’re OK. If you’re a medium-risk person, you’ve got some additional thought. If you’re an absolute low-risk tolerant individual, you’re going to sell your home and you’re going to make two moves.

    As a low risk person, you’ll sell your home and then rent, or move in with family or friends until your new home is ready. Depending on the rental market, most landlords will accept a six-month lease agreement. Obviously, when the rental market is weak, that’s a lot easier to do. This is again an instance where a REALTOR® with experience should be brought in so that you can receive proper guidance.

    I wouldn’t recommend buying a home before selling your home in a normal market, unless you have lots of equity. The way to get around it is for the offer to be conditional to the home selling and see if the seller will take that.

    The Guarantee Sale Program

    A Guarantee Sale program guarantees the sale of the buyer’s existing home. The guarantee states that if their home doesn’t sell, the guarantor will buy it. This guarantee totally wipes out the Catch 22. However, the guarantee usually only runs about 90 – 120 days out from the possession of the new home. Anything longer increases the risk to the guarantor.

    This program has a lot of detail, and people need to call Tom directly in order to discuss it and understand it fully.

  • What is the Difference Between Pre-qualified and Pre-approved Mortgages In Canada? 12 December 2018 What is the Difference Between Prequalified and Preapproved Mortgages in Canada?

    The public, and even many REALTORS® view preapproved and prequalified as being the same thing, but they’re not.

    Prequalified Mortgages

    Prequalification is based on general information that has been given to a mortgage broker or to your bank (whichever one you’re going to use). This is the first step in buying a home so that you know how much you can afford.

    With a pre-qualification, the mortgage broker or bank looks at your total income and your debt and gives you a rough idea on how much you can borrow. In other words, they tell you the amount of money that you could qualify for from a lender.

    The broker or the bank will calculate your affordability by doing a Gross Debt Service ratio (GDS) and a Total Debt Service Ratio (TDS). The Total Debt service ratio cannot exceed 32 of your total household income for PITH (principal, interest, tax and heat).

    Total Debt service ratio is PITH, plus any other debt you have. This cannot exceed 40 of your household income. The broker for a prequalification takes that information and can, in a very informal way, tell you within 10 minutes on the phone what you have prequalified for.

    Once you’re prequalified and you have that in hand, the bank will hold your interest rate, that’s posted for anywhere from 30 to 120 days. These times vary depending on rate stability and are something to discuss with them at the time the prequalification is provided.

    Preapproved Mortgages

    A preapproval is much more powerful than a prequalification. With the pre-approval, the lender that is selected actually reviews the application looks at your credit history, employment documentation does the credit check, and does all of the investigative work to make sure that what you’ve said is accurate.

    I saw an instance where somebody was prequalified. When they were on the phone with the broker, they failed to mention they had bought a boat the previous month Because of that, they thought they were qualified for a higher amount, but they really weren’t, since the information they gave to the broker was inaccurate.

    With the pre-approval, the bank has gone through the extra step to ensure that the facts are correct. Therefore, the credit check would show the boat and anything else that they have as debt.

    The preapproval is much more powerful; the bank will hold the rate for anywhere from 60 to 120 days. At this point, you’re dealing with a specific lender, right in their offices and getting down to the nitty-gritty. Opposed to just having an informal conversation with the broker or bank as is the case with prequalification.

    Once you have preapproval in place, the lender will move on to give you the golden ticket which is approval. This is what you really want because it means that you have been fully approved for the home loan, the interest is all outlined within an agreement with them, and you’re ready to go.

    With a certificate of approval from your lender in hand, you have a huge advantage over other Buyers and their REALTORS®. You are demonstrating to the Home Sellers that you are a serious Buyer when the time comes to submit your offer. They view this as money in the bank.

    Still have questions?  Find out more about mortgages here or give us a call.  We would be happy to answer any questions you might have.

  • The Risks of Selling a Property in Calgary Without an Agent 12 December 2018 Selling a home in Calgary can be stressful. In fact, some might say it competes with events like divorce and bankruptcy as being among the most emotionally draining things a person encounters in their lifetime.

    Sometimes people make the choice to go it alone when selling a property. Often it seems that homeowners don’t think the cost of a REALTOR ® is feasible. Or they don’t see the value in a partnership with an agent at all.

    But taking a For Sale, By Owner (FSBO) position is not without risks. The most daunting risk is losing out on what could be.

    Real Estate Agent transactions can sell for 25 more than FSBO transactions.  If money is the issue, securing up to 25 more on the value of your home would cover all brokerage fees with money in the seller’s pocket.

    Yet, many homeowners still try FSBO first to see what happens. This is an especially frequent trend when the market is primed for sellers.

    As for Calgary’s real estate market, it has been very good in 2017. But in July an ease in demand caused by factors like lending uncertainty and summer seasonal slow down began to tip the scales. What remains is a growing supply of homes for sale and a demand that is not increasing at the same rate.

    Is this really the time to take unnecessary risks selling your home?

    The Risks of FSBO: Selling a Property in Calgary

    When selling a property, there are always going to be risks. Many are outside of your control, like market fluctuations and lending policy changes.

    FSBO selling has its own set of unique risks that may make you think twice before pocketing the amount you’d spend on the agent’s commission.

    First, There’s The Money

    Nevermind that you’re likely going to lose money on the sale of your home by omitting an expert Real Estate Agent. Let’s talk about the commission.

    If you’re choosing to go it alone when selling a property because you don’t want to pay a commission, remember if your buyer has an agent you may end up paying a percentage to that agent, anyway based on the fact that most Agents have a signed Buyer Brokerage Agreement with their client.

    The truth is, if you want agents to show up and view your home with a buyer, you have to offer a fair incentive. No one wants to work for free.

    With an abundance of homes for sale in the Calgary market, why would an agent show your home above another similar home, knowing they are going to have to do the same amount of work for little or no pay?

    Almost 90 of home buyers are shopping online to find homes and will hire an agent when it comes time to view homes and to represent them to negotiate an offer. If you decide against meeting the industry most common buyer agent commission, you could be limiting yourself to 10 of shoppers. It’s no wonder why the homes tend to sell for less.

    A thoughtful, motivated FSBO will invest time and money in systems like MLS ® System, advertising to REALTORS ® , and offering a competitive commission to buyer’s agents. They will also consult a Real Estate attorney to help them with contractual obligations once a buyer has been established.

    By the time you’ve invested in advertising, legal help, and buyers agent commission, you have to ask yourself was it worth it?

    On top of that, you could lose up to 25 of your home’s potential value on the sale. When you look at it like that, it’s not a great deal at all. Selling a property by owner seems risky, at best

    Then, There’s the Expertise

    A good agent is going to be smart about Calgary’s current market when selling a property. They should be someone you turn to for expert advice on everything from pricing your home to negotiating with the Real Estate Agent representing the buyer and know the current neighborhood stats.

    A seller’s agent spends countless hours surveying and researching your home. They note improvements, check current values in your neighborhood, and price the per square foot cost of competitors currently on the market and those that recently sold.

    They strategically use this information to create a comparative market analysis that is comprehensive enough to provide expert level advice on pricing. They know instantly when an offer comes in if it’s in-line with market value, above or below average. That puts you in a better position to negotiate.

    But one of the most valuable things a Real Estate Agent offers is guidance. Selling your home comes with a lot of paperwork. But when there’s a question, having an expert that provides clarity, solutions, and peace of mind is priceless.

    And Finally, Professional Resources

    Being an expert isn’t all about the knowledge, it also includes having access to tools of the trade. Licensed REALTORS ®  are part of a network of professionals. The professional association provides resources like MLS ® System, contract management, quick access to relevant tax information, neighborhood profiles and more.

    REALTORS ® also have the most secure lock boxes to protect your home and scheduling services that make showings more efficient. They have buyer referral networks and relationships that can be leveraged with professional photographers, inspectors, and banks. Only agents can provide affordable, resourceful marketing on all of the platforms where your home should be listed.

    If you decide that doing it alone is the way to go, you forfeit more than your money and your time. You are forfeiting resources that sell your home faster and for more money.

    Still Thinking About FSBO?

    Even knowing what we do about FSBO sales, many homeowners will choose to test the waters anyway. From the seller’s perspective, what do they have to lose? After all, they can always reject a bad offer and contact a Real Estate Agent when they’re ready.

    But before you take this approach, please understand that it’s a slippery slope and there are many more risks involved than whether or not you have to pay commission.

    If you’re willing to invest the same time and money in research, advertising, professional tools, resources, buyer agent commission and contract legal advice you might have a shot at not losing money on your home’s value.

    But if you’re like many homeowners who simply don’t have the time, money or expertise to make that kind of commitment, give us a call.  Our experts are ready to talk to you

  • House for Sale in Calgary: 5 Mistakes to Avoid 12 December 2018 The journey to sell a home is filled with many important steps.

    From initial conversations to final signings, there are myriad details to tend to, including scheduling inspections, hiring a Real Estate Agent, setting and negotiating a price, sprucing up your home, and more.

    As such, the process can easily become overwhelming, even for the most seasoned home seller. Mistakes are likely to happen.

    That’s why today, we’re going over five of the most common mistakes that can occur when you have a house for sale in Calgary. Knowing the pitfalls ahead of time can help you stay on track, on time, and within budget.

    Ready to learn more? Let’s get started

    1. Posting Poor-Quality Pictures

    A survey by the National Association of REALTORS® revealed that when they search for potential houses, 90 of home buyers hop online to check out what’s available.

    In today’s digital age, this practice is only growing — and for good reason. It’s an accessible and convenient way to scan the market and learn more about any properties that catch their eye.

    The Internet can help them discern specific details about a home, such as its square feet, year built, lot size, and school district. Yet, the reality is that most browsers aren’t logging on just to stare at text on a screen — they’re in it for the pictures.

    That said, to stand out from the crowd, it’s essential to ensure you’re posting clear, top-quality photos of your home’s interior and exterior. Doing so can entice a user to explore your offering more closely, and you never know when a click could turn into a commitment.

    2. Failing to Stage the Space

    If you’re selling a house in Calgary, interested buyers will want to take a look at your space. This is your home’s one chance to make a great first impression.

    To this end, it’s important to stage your property as completely as possible, giving prospective buyers the chance to see what it’s like to call your house a home. In short, “staging” is the process of highlighting your home’s best assets and minimizing its downfalls.

    Reducing clutter, strategically grouping furniture, and upping the wattage of your lights are all simple and easy changes that can make a big impact.

    While no one expects every single square inch to be decorated, neat as a pin, and smelling like freshly baked cookies, the reality is that the second a prospect sets foot in your home, their analysis of the space begins.

    Taking the time to create a clean and inviting space can make all the difference in how long your home takes to sell, and the sooner you take action the better.

    In fact, staged homes sell on average 88 quicker and for to 20 more than nonstaged homes, making this one step to mark off your checklist early.

    3. Not Providing Marketing Collateral

    Prospective home buyers will likely spend time researching the local market when looking for a house for sale in Calgary.

    To make sure the details of your property don’t get lost or forgotten in the shuffle, it’s helpful to have some sort of marketing material prepared that can be distributed at your open houses or showings.

    These don’t have to be elaborate, wordy tomes. Rather, a simple data sheet or brief pamphlet highlighting the major features of your house, along with some dynamic photographs (see Step 1 above) will be ideal.

    This way, even long after prospects leave your space, they can consult your provided marketing sheets to refresh their minds about it.

    After hours or days have passed, it can be easy for them to forget an important detail or recall what certain rooms looked like. This type of documentation is critical to helping them remember.

    In addition, technology is allowing sellers to get even more creative with the ways they market their homes.

    For instance, your Real Estate Professional can help you add web links to your listings that allow users to virtually walk through your home via immersive 3D video. You can also leverage digital photography, video slideshows, and other visual reminders to seal the deal.

    4. Pricing the Home Incorrectly

    At the end of the day, much of a home’s selling potential hinges on the price tag and how it compares to others in that price range.

    Pricing a home, therefore, is a delicate balancing act that shouldn’t be taken lightly.

    If the price isn’t calculated correctly, the home could sit on the market for a long time without attracting a willing buyer. Or, it may instigate lowball offers that could result in lengthy negotiations, ultimately prolonging the selling process.

    A Real Estate Professional will be able to determine a fair market value based on a range of factors including comparable nearby properties, the movement of the real estate market, local demand, the home’s location, and its overall condition.

    5. Not Hiring a Professional

    In addition to helping you determine a price to attach to your house for sale in Calgary, a credible Real Estate Professional is indispensable in helping you along every step of the selling journey.

    For one, a professional can help you get the most for your home by ensuring the price you set is fair and reasonable. He or she can also help you sell your home quicker by optimizing your marketing strategy and utilizing local resources.

    When looking for someone to help you sell your home, it’s important to look for an agent who is a member of the Calgary Real Estate Board. This person will have the title of REALTOR®, which means that he or she is qualified and certified by the Association to uphold its standards and values.

    In Canada, the process of becoming a REALTOR® includes passing a lengthy series of educational and licensing requirements as well as completing yearly mandatory training courses to maintain a Real Estate License. While each province sets its own regulations, most follow the same general path.

    To become a REALTOR®, one must pass a general educational level, then a written licensing exam. After becoming licensed in a province, the next steps are to become a member of a local board or the Canadian Real Estate Association, then a REALTOR®.

    These rigorous requirements help ensure that top levels of quality and professionalism are maintained throughout your home selling process.

    Got a House for Sale in Calgary? Start Selling Smarter

    If you’re selling your house in the Calgary, AB area, remembering these five common mistakes — and how to avoid them — can help you sell smarter, quicker, and more effectively.

    Selling and buying a home are two of the most important and impactful decisions of your life and knowing all you can about the process beforehand is critical to securing the success you and your family deserve.

    We’re dedicated to helping home sellers in the Calgary and Alberta areas ace the real estate game. Contact us today to get started and let us lead the way

  • 5 Reasons Why You Should Sell Your House in Calgary 12 December 2018 When is the best time to sell your house in Calgary?

    It’s nearly been 10 years since the recession. The recovery of the housing market and related markets have been tamped down from sluggish, but generally positive moves in the job market recently. That being said, it looks like the road to recovery continues.

    However, there are always glimmers. While board statistics provide a manageable tool to see the whole, they don’t tell the whole story.

    Real estate is an ultra-local focus. What’s true in one area simply doesn’t apply in others.

    Meeting with a Real Estate Professional will help you to decide it now is the time to sell your house in Calgary.

    You’ll get the best information speaking with an experienced, local realtor in your area.

    Keep reading to find out why

    1. Two Words: Seller’s Market?

    The most recent figures (for August) from the Calgary Real Estate Board show the supply is still floating up and down around a four-month supply. Scarcity is good for anyone that’s looking to sell.

    However listings have jumped by 25 in the last month, so if you are thinking about putting your home on the market you will now have more competition. This is where an experienced real estate professional can advise you on the best strategy.

    Considering other homeowners are starting to feel the pull to sell, you must make sure that your house gets seen by the most number of buyers. The agent you choose should be able to demonstrate a marketing plan for this type of market.

    With over 90 of home buyers starting their searches online, you must make sure your agent will have professional photos taken as well as post to social media. Real estate marketing and promotion have changed greatly over the last 5 years.

    Currently, prices are flat month-to-month. But in a decade of instability and losses, stability is a welcome respite. Even with the increase in listings, it is still a good reason to sell your home in Calgary now. The prices are even slightly elevated over last year.

    Zooming out for year-to-date for 2017 and 2016, the number of sales are up more than 8 and the total sales volume (cash) is up by nearly 11 for the city. CREB’s forecast for the year calls for better adjustments in the financing world as the market copes with continued disruption in the energy sector.

    But buyers on the edge are going to try to cash in on rates before they go up. More buyers mean you have more people to bid up the price on your home. Realistically, more buyers are going to want to get a loan before it becomes more expensive.

    2. An Ideal Place to Live

    Stepping away from the numbers, Calgary is a metro that has so much to offer with top-notch recreation, health care, and geography.

    Calgary is home to three professional sports teams, The National Music Centre, and a number of museums, ensuring there are a wide variety of things to do in see in the town.

    This is all just a short drive away from world-class outdoors activities available in the Rocky Mountains, Banff, and Lake Louise. When it’s time to sell your house in Calgary, these are great talking points to show prospective buyers the value of owning property in such a prime location.

    3. An Optimistic Job Market

    The city’s most recent job numbers show that now especially is a good time to sell your home in Calgary.

    The local economy took a major hit from the tumble in the price of crude. But in terms of sheer numbers, the economy has about replaced those lost jobs and then some. Even if the type or quality of the jobs aren’t the same in the energy sector boom, more people and more jobs mean more opportunity for home sales.

    The segment of people securing these jobs offers an optimistic outlook as well.

    The jobs report shows that mid-career individuals are getting back to work. While the direct connection isn’t clear in this case, these are usually the people who are buying homes. These are people trying to secure an asset that can act as a base for them as they look at the downside of their careers.

    However, a concerning point is a step backwards in average wages. Stagnant wages aren’t supposed to follow in a recovery. But when unemployment is high, wages are damped by minimized demand for talent.

    4. Millennials are Growing up and So are Their Wallets

    Conversely, the baby boomers are ageing out of work and major economic contributions. With kids gone, work gone and the likelihood of financial improvement gone, seniors are going to downsize. This leaves new homes open for increasingly ownership-minded millennials.

    With millennials gathering both more educational accolades and related debt than any other generation, some millennials are going to be limited in their home buying options. But they have still found a way.

    More transactionally-minded millennials are looking at homes as investments. Many are aggressively looking for homes that can or already accommodate multiple households, accommodating rental income. Or, more shared economy-minded millennials are going into home buys with family and friends to reduce the expense.

    This is good news for many homeowners, as it will drive traffic to affordable homes that otherwise don’t enjoy the benefit of generational trends.

    As the overall population of the province ages, more and more seniors could start trending towards condos, townhomes, and apartments. These are all forms of attached housing or homes that share some walls with neighbours.

    In that vein, CREB had good news for attached housing in August. Last month, attached housing had the top increase in both overall numbers and cash volumes.

    This means waiting to sell your house in Calgary could mean getting swallowed up in the silver tsunami. If you are already in a more aged population, then selling your home in Calgary for top dollar could set up a move to a more manageable location.

    5. The Overall Housing Market Is Looking Up

    Both the median price and the number of homes sold have increased year over year for Calgary.

    Further, Calgary is meeting or beating the recent trends for these figures. Alberta is on the right side of 2008 and 2009. If you’ve been in your home since then, prices are finally back to where they need to make a sale helpful to moving on in the housing market.

    Adding it all together — the recent figures, the big picture figures, jobs, wages, trends — is difficult. But the bottom line is this: growth is happening and the overall trends are pointing in the right direction.

    Ready to Sell Your House in Calgary? We Can Help

    All that said, selling a house is only half the equation.

    Assuming you want to live in a house, you have to buy one after you sell one. It’s time to look that direction.

    Contact us today to see how you can sell your house but still call Calgary your home

  • How to Sell Your Home as Quickly as Possible 12 December 2018 Are you looking to sell your home quickly? If so, there are a few things you should know before putting your home on the market.

    Of course, selling a home isn’t an easy process, but there are things you can do to make it go as quickly and painlessly as possible. The good news is that if the market is good, most well-priced homes sell within 10 to 21 days.  The average days on the market for all real estate in  Calgary is 45 days according to the September CREB stats.

    However, there are a lot of factors that determine how long your home will take to sell. Here are 8 of our best tips to help sell your home quickly:

    1. Establish a Timeline

    It’s also important to establish a timeline when selling your home, but it’s even better to do if you need a quick turnaround.

    As a first step, make sure you and your real estate agent have open communications at all times, and that they have specific details about when you need to sell your home.

    Essentially, you have to help your agent help you and providing a vague timeline won’t explain what he or she needs to do to get your house sold.

    2. Stage Your Home

    Similar to the point above, it’s a good idea to take your home decor up a notch by hiring professional stagers to come in and make your home look like a model home.

    If you’re not familiar with staging, it’s a process of redecorating your home to make it look bigger, brighter, cleaner and more modern. Professional stagers will either use your current furniture or bring in pieces of their own, and they know all the tricks that will make potential buyers fall in love with your home.

    According to a recent survey, staged homes sell in half the time that unstaged homes do. While it might be an extra investment to remove your belongings and have a designer come in, it will be worth it when you sell your home quickly.

    3. Set a Reasonable Price

    Preparing to sell your home is an emotional experience. During this time, it’s easy to think your home is worth more than it actually is. However, if you’re trying to sell your home quickly, this type of thinking can put you at a serious disadvantage.

    When discussing your listing price, it’s important to trust your real estate agent’s instincts on what the best price for your home will be. If they have a good idea of your timeline in mind, they will know what price you should aim for to meet your timeframe.

    Of course, everyone thinks their home is worth more money, but keeping an open mind on pricing is key to getting your home sold faster than overpricing your home and having it sit on the market.

    4. Make it Easy to View Your Home

    When you’re trying to sell quickly, it’s crucial that people be able to view your home. This means keeping your schedule as open as possible for showings and open houses, and not getting in the way during these showings.

    No one is going to buy a home that they haven’t seen in person, so do everything you can to make sure buyers can view your home whenever is convenient for them.

    If someone wants to see your home at 8 p.m. on a Friday, you need to be flexible and willing to get out at a moment’s notice. The more time someone has to look at your home, the more offers you’re likely to get.

    In addition, make sure you’re not there when your home is being viewed. It might be tempting to stay home and discuss your home with potential buyers, but this can actually be a major turnoff. In this case, it’s best to leave it to the professionals.

    5. Support Your Agent

    Many sellers simply turn over their home to their real estate agent and expect them to do the rest. While it’s the agent’s job to help you sell your home, when you’re trying to do so quickly it’s key that you offer as much support to your agent as possible.

    This means keeping the lines of communication open at all times and doing everything your agent needs you to do.

    Communicate with your agent to make sure you understand the legal requirements and what you need to have in place before the offer comes in.

    Along those lines, make sure your agent knows exactly how high or low of an offer you’re willing to accept. You’ll also want to set clear expectations on negotiating optional items into the price. For instance, are you willing to sell appliances with your home as well?

    Make sure they have all the information they need, and your home will sell faster.

    In addition, make their lives easier by always thinking ahead.

    Do you have an open house on Sunday? Make sure your home is clean and everything is ready to go. The less they have to remind you to do, the more they can focus on getting your home sold.

    6. Use Your Neighbors

    Why not have your neighbors pick their new neighbors for you?

    Selling your home is a great opportunity to ask around and see if your neighbors know anyone that’s looking to buy.

    It’s even better if you have a neighborhood forum or some type of community center to post your listing in. Either way, getting the word out that your home is for sale is always a good thing, and your neighbors with likely appreciate the chance to have a say in who moves in next to them.

    7. Participate in the Post-Signing Process

    We all know that getting an offer on a home is really only part of the battle. The rest comes after the offer is accepted.

    If you’re trying to sell your home quickly, don’t hold things up after you receive an offer and don’t simply plan on your agent to handle everything either. Keep yourself involved the process as much as possible in order to help move things along.

    This is another point where it’s key not to let your emotions get the best of you. You might be tempted to wait for multiple offers, but this will only make the home-selling process more painstaking.  In many cases, your first offer received is your best offer.

    Also, think about all the steps that must take place before your home closes. To save time, make sure you take of issues that might come up during inspection before you list your home.

    8. Choose the Right Team to Sell Your Home

    The true key to selling your home is picking a professional real estate team that has enough experience to get the job done quickly and efficiently.

    Waller Real Estate has been in business for 20 years, and we’ve survived through all types of markets which takes a large amount of skill and strategy.

    Tom Waller himself has 30 years of experience in the industry and is one of the area’s top negotiators. He knows how other agents work and can use this wealth of knowledge to get your home sold fast.

    As a firm, our biggest advantage is being independent, because we can customize our approach to you and your specific home. Remember, just because another brokerage firm is larger, doesn’t mean it’s more efficient.

    In the end, there’s a lot that will determine how quickly you can sell your home.

    To help your home get off the market quicker, make sure you help it put its best foot forward and don’t get in your own way. Selling a house is an emotional experience, but taking the emotion out of it is the best way to make your home sell faster.

    Do you have any tips for selling a home quickly? Share them in the comments below Interested in buying or selling in the near future? Contact us to get started

  • 7 Advantages of Using an Independent Calgary Brokerage Firm 12 December 2018 You’ve decided to sell your home and now there are countless questions running through your head. Where do you start? What type of Calgary brokerage firm will fit your needs and yield the best results?

    It’s common for home sellers to believe that using a large, franchised real estate brokerage firm will be more advantageous. It’s understandable why people think this way, but it’s a complete misconception.

    In fact, there are a number of advantages to using an independent real estate firm that you’re probably are unaware of. A REALTOR® enjoys a number of freedoms and advantages when working for an independent firm. This allows them to provide a level of service not always found at the large firms.

    Personalized Service at an Independent Calgary Brokerage Firm

    The Canadian housing market is currently in a state of transformation. Homeowners thinking of selling without a REALTOR® may quickly find themselves overwhelmed with organizing showings, managing listings, and negotiations. Employing the services of an experienced, local agent could be the key to a less stressful and lucrative result.

    But how do you find the best agency to represent you? What do you need to know before making a decision?

    Let’s take a look at some of the advantages of using an independent brokerage firm to help you sell your home, or to purchase a home.

    More Agent Support

    Large franchises don’t always provide the level of support or training for their agents that they need. While some top agents work for franchises like Re/Max and the like, it doesn’t mean that all their agents get the support they need to do the best for their customers.  Brokers in larger offices are not always available to answer important questions when they are needed or not as easy to get a hold of after hours.

    Franchises can be more interested in collecting fees and racking up as many agents as they can without bothering spending the time to train them the way they should be. Independent brokerages do not operate that way. They support their agents to make sure that they have access to all the resources they need to be successful, and the Brokers are more accessible to answer questions.

    Quality over Quantity

    When you reach out to a real estate brokerage firm, wouldn’t you much prefer a familiar relationship with a REALTOR® you can know and trust?

    Personalized service provides peace of mind that makes the selling or buying process much less stressful.

    An emphasis on quality service is an invaluable resource. And when that service is extended to sellers and buyers, the end result will be more beneficial to everyone.

    A boutique agency like Waller Real Estate Group, without any obligations to a franchise, is able to focus on finding you a home or selling your home – not just closing a deal.

    No Technological Restrictions

    Many larger brokerage firms have in-house technology that all their agents must use. Because this technology must be compatible and easy to use throughout the whole company, there are often limitations.

    As a result, many independent brokers seek out the best technology available in the real estate industry. This gives them an advantage over the competition as they are not bound by what the Franchise rules say they have to use.

    Better Advertising Capabilities

    The more personalized service provided by an independent brokerage firm allows the agent to focus more energy on promoting your listing.  This will help move the process along and hopefully garner better results in the end.

    Independent Agents Have More Freedom

    Independent real estate brokers have way more independence and freedom in what they offer. They are able to cater their services to the local market and respond quickly to changes in the local market.

    Most franchises would have to wait for corporate approval to offer a new service or change in policy to best suit the local market – independent brokers don’t have to worry about that.

    Every company has policy and procedures guides that everyone in the company must follow. Brokers have to be able to approve advertising and other choices made by agents. But the lack of franchise rules means there isn’t an extra weight on top of that.

    Applying In-Depth Knowledge

    All real estate brokers have completed extra coursework for an in-depth knowledge of real estate law. Their training has prepared them to run own their brokerage firms and manage teams of agents.

    Independent brokers have much more control over who they hire and to make sure they are a good fit for the team.   They apply and share their knowledge with their agents. They are not held back by a corporate infrastructure that limits their capabilities. This allows them to truly extend the knowledge they have to the entire organization and their clients.

    Unique and Personalized Service

    If you’re selling your home or buying a home, an independent Calgary brokerage real estate firm is going to provide a level of service that a large firm simply can’t compete with. The size of independent firms means that they are much more particular when hiring agents. They are seeking a level of experience and service that will set them apart.

    Additionally, a smaller operation means the ability to provide unique service. This is something large franchises can’t replicate.

    Consider an Independent Brokerage Firm First

    The REALTOR® you use is the most crucial decision to make when selling your home or buying a home. The number of options out there can be overwhelming.

    By deciding to go with an independent Calgary brokerage firm, you are opting for a higher level of service with a unique and knowledgeable agent.

    Waller Real Estate Group has been in business for 20+ years in the Calgary real estate market. Tom the broker has 30+ years of local real estate experience and makes himself always available to support his agents, so you know that you are working with a team that’s looking out for you. Contact us to discuss your options.

 




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