This chart gives you an idea of what has sold in Mayland Heights since the first of April to May 24th. If you want more info on a specific property just send me an email and help you out.

If you own a condo be sure to have all the condo documents ready before you advertise your home. If you have an incomplete set you will have to contact your Board or the management company of your building to provide you with the missing documents. Keep in mind though, this will cost you up to a few hundred dollars depending on what they charge for copies (I’m hopeful that this will change in the future so that you won’t have to pay for these).

Review of the condo documents is one of the most popular conditions when potential buyers are evaluating their new investment. Without a complete set of documents the condo document review company can’t do their job and therefore can’t fulfill their obligation to their client. This results in a penalty to the home owner levied by the buyer’s brokerage, an extension of the condition period, or a deal going sour (or all three).

If you own a single family home you’ll need to have a Real Property Report (in some provinces a “Surveyor’s Report”) that is in compliance with the City or Municipality you reside in. In Calgary, Alberta a Real Property Report (RPR) takes around three weeks if all goes smoothly.

Issues that may hold up getting the stamp of compliance are:

1. Relaxation: I was at the home inspection for my buyer when the home owner came in and told me he applied for a relaxation for the steps he had built for his dog to get up onto the deck. The problem was the steps were too close to the fence which may be an issue for emergency services to get through. The relaxation was granted by the City for $360 with a five week delay in the RPR. The home owner told me it cost him $250 to put in the steps and the dog passed away two years ago. Ouch!
2. Easement: An example of this is where you have your fence built on your neighbor’s property.  In this case you need to get permission from your neighbor to allow the fence on their property. If they don’t agree you’ll have tear it down and rebuild it on your property. Another example would be a Utility Right of Way from the City allowing electrical wires or box on your property.

If you don’t have your RPR in compliance by closing this will collapse your deal. The buyer’s lender and their lawyer require it to make sure there’s minimal risk when they take over the property.

I had a home owner with an RPR that was outdated by close to 30 years. We ordered a new one and thought all was going well with it so we put her home on the market. It turns out that the party wall on the duplex showed 3 inches out on the RPR. It ended up taking eight months to get the RPR because both properties had to be re-subdivided. By the time the RPR was ready the market dropped and her home sold for $30,000 less than the original deal.

Please take the time to make sure either of these requirements is ready before putting your home on the market. At least then this will be one thing you don’t have to worry about.

For information on real estate feel free to contact me via email ordze@shaw.ca or on my Facebook Page.

When meeting with my client the value placed on their property from the City’s tax assessment usually comes up. If you look at it from their perspective this is the only concrete figure they have to go by to decide what the value of their property is, and basically if I come within that ball park when I do my evaluation.

Just a little background info on how the City or municipality comes up with the value of your home.

1. The info gathering for the next tax year is done in July. So in July 2012 they gather market information to assess your property and determine a value that shows up on your tax assessment in January 2013.
2. The only people who will ever come onto your property or into your home to assess its value are real estate professionals and appraisers. The City has no idea that you just renovated your kitchen.
3. If the area that you live in is very active in home sales, then the City has a good pool of data to make an assessment from and the price should be more in line with the market evaluation from your real estate agent. On the other hand if your area has one sale that year and it’s an 800 square foot home with a give-away price and yours is double that size fully renovated then your assessment can be well undervalued.
4. The real estate market fluctuates from year to year and season to season. Once the City decides on the value of your home they don’t make adjustments for these fluctuations. So if the market drops after the assessment is done then your property will be assessed higher than a real estate evaluation and vice versa.

It’s interesting that when the City Tax Assessment shows a significant amount higher than the CMA (comparable market analysis) that I put together for my client to determine a price, then to the home owner this is a very important document. It’s then on the top of the pile of supporting documents for what the home owner believes their home should be priced at. On the other hand, when working with buyers, if the assessment is lower than the asking price on the property this, is the most significant ammo they have to justify their low-ball offer. Interesting…

One more thing… When owning a condo and you have a titled parking stall, there is a separate tax assessment for that. This should be added to your total tax assessed value.

If you have any questions about your city tax assessment contact your municipality. For information on real estate feel free to contact me via email ordze@shaw.ca or on my Facebook Page.

The purpose of a home inspection is to evaluate the health of the subject property and note concerns that he or she sees as they analyze each area. Many times the potential buyer doesn’t have the knowledge, tools or intuition to discover the questionable areas. In particular there may be issues with the foundation, the plumbing, electrical or slope of the land that you or I would never think there’s an issue because it looks great! So, just to be on the safe side and ensure your investment is a sound one, get the inspection.

Now I did say “…home inspection on a condo?” and not single family home which I was relating to in the first half of this blog. What has been surprising me lately is that buyers looking at condos are now requesting home inspections as a condition. In the past, the review of the condo documents was sufficient. Some tell me, “once bitten twice shy” for they’ve suffered or heard of others who’ve suffered the consequences of not having the inspection on past properties whether condo or single family home. So this added safety net is a must for these potential buyers to protect themselves.

Getting a home inspection on a condo will satisfy a few concerns for the potential buyer:

1. If there were any repairs done to the unit by the Board such as the balcony or windows replaced, this can confirm that the work was done correctly. You can also make sure that repairs badly needed are on the list to be done and show in the condo docs.
2. Any renovation or repairs done inside the unit are from and possibly by the home owners, and not always requisitioned by the Board or Management. Therefore if the shower was nicely tiled but the taps are leaking behind the wall, the home inspector will pick this up. Remember if damage to the unit below comes from your unit, guess who pays that bill, you!
3. There was one client I had who bought a townhouse condo. No one had lived in it yet and it was purchased from the builder and still had the new home warranty on it. We had a property inspection done, as well the condo document review. In the end, the property inspection revealed a list of deficiencies from the work of the contractors the builder used. The list included a crack in front door, sink supply lines reversed, the windows flashing was on wrong, the bathroom fan not installed properly, bad painting job, etc. This list we took to the builder and they made sure all this was done before she moved in.
4. For a first time home owner you’ll get some great tips for maintaining you home, including the furnace and hot water tank (if applicable), how to operate the appliances and get you more familiar with your home.

Even if you think you don’t need a home inspection because the home looks perfect, reconsider. At the least you’ll have the comfort of knowing your home a little better, adding to a more relaxed move in day.

If you have any questions please feel free to contact me or check on my Facebook Page for other tips on buying or selling your home.

1. PETS – Most pets that I see are adorable and friendly! The problem is that buyers don’t want to see a lack of maintenance. The kitty litter, the hair, the odor, the accidents, the back yard droppings… you know what I mean. Keep in mind that not every buyer is a pet lover and many are sensitive to pets because of allergies. Be on top of this at all times! Visitors should hardly be aware that you have pets.
2. SMOKING – I can’t tell you how many times I’ve showed a property and when we walk in the door the first thing that comes out of their mouth “They smoke”.  Sometimes I can barely smell it, but buyers pick it up like a blood hound. Be sure to have your home cleaned, painted and whatever you have to do to get rid of that odor. But promise me you won’t try covering it up with air fresheners, because trust me, buyers will call you on that one.
3. NEIGHBORS – When your house goes up for sale your neighbor is going to think either that they hope to get neighbors just like you or they hope to get neighbors that aren’t worse than you… I know, a very slim chance the latter could happen. Either way they have concerns and depending on how welcoming they are to change can tell you how much damaging information they will willingly give the potential buyers when seeing your home. The only thing you can do with this one is to have a nice conversation with your neighbor telling them how you’ll carefully consider the new owners for your home. Or you can restrict scheduling showings when they’re not home.
4. POOR MAINTENANCE – AKA “Handyman Special”. This will most definitely draw out the low ball offers. When buyers see one or two minor things that need repair that’s not so bad. But when the lists keeps building as they go through the home they are going to get overwhelmed and walk out the door. On the other had, you get a handyman in there and he/she will be tallying up the cost to repair as they go through every room and this isn’t what it would cost them to do it, more like getting the highest paid contractor to do it. Thus the low ball offer.
5. CRIME – If you have graffiti, break-ins, vandalism in your neighborhood the buyer will find out one way or another. But there is something you can do to minimize the affect of this. Have a security system in your home, have the yard well lit, keep your yard clean and void of any objects that undesirable visitors can hide behind, and if available, information on how your community is working to rectify these problems. Many buyers come in the evening to view homes when it’s dark, so if they don’t feel safe visiting the property they won’t be writing an offer.
6. NOISE – When a plane flies over your home or a train whistles outside your kitchen window while buyers are viewing it, you really can’t hide that. The best you can do is be upfront about it and make the potential buyers aware of it in the remarks describing your home. I once had a buyer say they didn’t mind the airplane noise since they grew up with it. He said it was a bit of a comfort to him. You never know….

If you have something to add to this list or a great story, please let me know and I can share it with others.
You can also get more information and updates by liking my Facebook Page!

You might hear that the seller pays the professional fees or maybe the buyer does. When it comes down to it the buyer funds the transaction through the sale of the home and a portion of that is allocated to the real estate professionals at closing time through the lawyers.

Now there’s a few ways this is decided depending on the representation of the home owner. Let me explain:

1. Home owner works with a real estate representative:

At the time the home owner(s) decide to place their property on the market they work out with their real estate agent a “Listing Agreement” which defines how much their representative will get paid and how much the representative who brings the buyer to the table will get paid. Simple.

1. Home owner has agreed to a Mere Posting:

A Mere Posting is basically an agreement with the home owner and the real estate brokerage to have their property advertised on the Multiple Listing Service (MLS), and that’s it. Any negotiation for real estate fees is made between the buyer’s representative and the home owners.

1. The home owner represents themselves as a For Sale By Owner (FSBO):

This is similar to the Mere Posting except there is no real estate representative at all on the home owner’s side. Instead they have either used an online service such as Comfree or have opted for that red and white “For Sale” sign (leaning to one side) on their lawn. In this case, the buyer’s representative fees are also agreed to between the home owner and the buyer’s representative.

When you start working with your real estate representative there will be an agreement that lays out the fees your representative is expecting to be awarded for their services (…and for a job well done). Regardless of the type of representation the home owner has, your real estate agent should be able to include these fees in the Purchase Contract so that you don’t have to write a cheque at closing to your lawyer to cover these fees.

The next time you talk with your real estate representative find out what plan they have in place to get paid so that you won’t be stuck with the bill at closing.

If you have any questions please feel free to contact me or visit my Facebook Page https://www.facebook.com/propertypage where there’s always some good stuff about real estate.

This community provides ample amenities, schools and green space. Unfortunately the homes in this community don’t come up often. Here’s what went on in 2012 with regards to real estate sales, and it’ll give you an idea of what to expect if you are considering this area for your next home.

In 2012 there were only 14 condo units that changed hands and all were within three areas:

McHugh Court 1 bedroom sold for $145,000 to 163,900, and 2 bedroom units sold for $160,000 to 230,900

The Grandeur condos went for $205,000 to 211,500

McGonigal Townhouses sold for $239,000 to 270,000

The single family home market consisted of 60 sales and I’ve broken down as follows:

12 Attached Dwellings or Half Duplexes sold for $249,500 to $313,000

43 Detached Dwellings sold for $270,000 to 520,000

5 Full Duplexes which includes a side by side or a raised bungalow (up and down) sold for $390,000 to 524,000

In the Mayland Heights Market Report you’ll find a Market Analysis graph that shows the median price of Mayland Heights properties per quarter in relation to the inner city stats. As well, some of the sales of the last quarter of 2012.

Please feel free to contact me with any questions you may have about Mayland Heights.

Positioning is a term that can be used in many areas of life, such as when golfing, you’ll use the most effective clubs to get you closest to the hole making it easiest to putt it in. In this case the golfer most likely went through a period of trial and error and learned from it, therefore leading to success. Now take this same approach and use it when finding your next home.

Here are 7 ways of improving your position:

1. Get your credit rating in a top notch position so that when you talk to your lender you’ll get pre-approved on a mortgage. You’ll not only know at what price you can afford, if the seller knows you’re already qualified they are more eager to deal with you.
2. Investigate communities you are interested in. Know what streets have the sound barrier walls, and find out the types of properties you can get for your pre-approved amount. It could be that in the community you want all you can get is a real fixer-upper or worse, a former grow op! Don’t waste your time on that community (unless that’s what you want) and start looking at more favorable ones.
3. Give a lot of thought to the lifestyle you want. Do you want a kid friendly neighbourhood, dog park, or is walkability important?
4. Build a relationship with your real estate agent and make sure they understand your needs.
5. Get referrals on service providers, home inspectors or condo document review companies, and lawyers. Make sure you have them lined up, especially if in a hot market.
6. Be available! If you’re looking for a type of property that doesn’t come up that often, there certainly are other buyers out there looking for the same thing.
7. Have your real estate agent put you on auto notification so that if a property comes up you’ll be one of the first to know. Chances are that other real estate agents have done the same thing for their clients, so be sure to check these notices promptly.

By educating yourself and doing your homework you can be in a much more favorable position than the majority of buyers out there. So the next time you write an offer on the home you want, you get it!