Home Staging Errors To Avoid

More and more agents and brokers are beginning to recognize the importance and benefits that comes with real estate staging before putting the properties they represent on the market. But what they fail to realize can waste valuable time, create undue pressures and stress, and sink valuable resources into a black hole. There actually is a science to house staging.

Here are a few of the issues that cause many agents to stumble when trying to stage a home according to Barbara Jennings, director of the Academy of Staging and Redesign.

1) Inability to advise sellers of the benefits of redesign – No seller looks forward to spending more money to prepare their home to sell. Yet it is a rare home that requires little to no work. But if the proper tasks are done right, it is amazing how costs for redesign are reduced while making a dramatic improvement in the look and feeling of the home.

2) Inability to keep from offending the sellers – No one likes to be told that their home is a mess, that their decorating efforts are dreary or dreadful, that their home is in disrepair, or that it smells terrible. So getting the truth across to a seller without totally offending them is an art that few agents have mastered. This is one reason why it helps dramatically to bring in a professional stager to give the bad news, keeping the seller/agent relationship in tact.

3) Ignorance of interior design concepts – One cannot hope to properly conduct a proper house staging service if one does not know basic redesign concepts. How much furniture is kept in each room and where it is placed are crucial elements to successful staging of the property.

4) Failure to go far enough in the staging concepts – Knowing how much to do is as important as knowing what to do when it comes to house staging. Far too often untrained beginners are afraid. Fear immobilizes. You really only get one chance to launch a home for sale for the greatest impact. So if it is not handled properly the chance is lost, or at the very least, it is downgraded.

5) Failure to hire professionals to manage the staging – Reducing costs is always a concern and no one like the idea of spending money to make money. But when it comes to house staging, spending money is often required. There are many tasks that will not involve money, such as rearranging furniture and accessories however. Professional stagers are the most reliable people to lean on when it comes to good redesign techniques.

Because home staging is so important, it is something that we offer to all our clients when they list with us.  Contact us to learn more if this is something that you are interested in having along with your listing.

New FINTRAC Rules for Real Estate Developers

On February 20, 2009, an amendment to regulations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, 2000, c.17 (the “Act”) comes into force. This change now includes “real estate developers” as part of the group of financial service providers and financial intermediaries that must meet the reporting and record-keeping requirements described in the Act.

When a real estate developer sells a new building, which includes houses and condos, they must comply with the specific requirements under two regulations under the Act (the “Regulations”):

1. Under the Regulations, they must report ‘suspicious transactions’ to FINTRAC. ‘Suspicious transactions’ are transactions that are in progress or have been completed in which there are reasonable grounds to suspect that that money involved in the transaction stems from a money laundering offense, which can include a terrorist activity financing.

2. Under the Regulations, the developer must:
• Maintain a ‘receipt of funds record’ for funds received in the course of a transaction (subject to certain exceptions);
• Maintain a ‘client information record’ for every client;
• Follow specific procedures for determining the identity of every person who conducts the transaction and every corporation (including the names of their directors);
• Submit a ‘large cash transaction report’ to FINTRAC when the developer or its solicitor receives $10,000 or more in cash; and
• Report any transactions involving known terrorists or terrorist property.

FINTRAC has the authority to make inquiries into the real estate developer’s business and obtain documents or other information from the developer’s records for compliance purposes. The consequences of not complying with the requirement to report to FINTRAC involve criminal penalties and, depending on the offense, could result in a fine, imprisonment, or both. The maximum financial penalty amount that can be imposed for violations classified as very serious is, in the case of an entity, $500,000 and in the case of a person, $100,000.

If you have questions contact Jeff Kahane at  Ask Gurus, or www.kahanelaw.com

Weekly Market Update – February 3, 2009

Can you believe it… January is already over… Anywho!

Over the past week, the listing count in Calgary has decreased.  This is a good thing, especially when it is mixed with the number of sales increasing.  The median prices for both condos and single family homes have stayed roughly the same as last week with condos at $248,000 (up $1,000) and single family at $377,500.  As well the average days on market have decreased and both condos and single family are sitting at 62 days on market.  With the prices staying where they are at, some would say that the market is starting to stabilize.  I do hope that this is the case, but we will need to have more than a couple weeks of data to see this.  If prices remain the same into the end of February time frame, the tides may have calmed.  We will have to wait and see.

Same as last week, many of the places that buyers are seeing are not quality listings, that do not show well.  This is one area that we try to stand out from the crowd in, and when buyers look at our listings we get many comments that the home viewed was in impeccable condition.

If you are considering buying in Calgary, right now is a great time to buy, as there are some highly motivated sellers out there.  But on the flip side, if you are needing to sell, you need to market your home a certain way, and price it properly, or it could cost you more in the long run.

Thanks for checking out our blog, and we hope that you find it informative and helpful in your real estate adventures.

8 Steps To Purchase a Home – Free eBooklet

Here is a great resource for you when looking for a new home…

8 Biggest Home Seller Mistakes

Here is a special report that we did up on the biggest mistakes that majority of home sellers make, that you will want to avoid in the future.

Would love to hear your feedback.

To see all our ezines, click here…

Please forward this on to anyone that you believe this would be useful for.

Enjoy!

1510 McAlpine Street ~ Carstairs, AB – SOLD

1510 McAlpine Street, Carstairs AB

Download Feature Sheet Here

Builder is willing to do a Vendor Take Back on this property, so bring offers.  As you enter this home, you will instantly notice the high-end craftsmanship.  1,313 sq ft of high quality living space in this 2 bedroom, spacious upper loft with 1.5 bathroom.  Gorgeous hardwood and tile flooring on the main floor, with 9 ft ceilings, complimented with designer colors.  Two bedrooms up with the master being a generous size.  ENERGY EFFICIENT HOME from Low-E Argon gas filled windows, TANKLESS HOT WATER boiler system, HIGH EFFICIENT FURNACE and TOTO dual flush toilets.  There is a rear parking pad with foundation walls ready for garage to be built. The kitchen is a chef’s dream with stainless steel appliances, upgraded cabinets with an abundance of storage including the large pantry.  Don’t miss your opportunity to live in Carstairs premium community West Highlands, only 30 min north of Calgary.  There is a DAILY COMMUTER BUS TO DOWNTOWN CALGARY, ask listing agent for more details.

Should You Sell Your Home?

Millions of homes are sold every year. Even though each transaction is different, all sellers want the same result – the best price in the least amount of time with the fewest problems.
Selling Calgary Real Estate is more difficult than it used to be. As a seller you need to be aware of a range of issues and deal with many complex forms. You also need to know that buyer agents represent buyers and each of them are giving their fiduciary responsibility to their clients.

Successfully selling a property requires the Realtor to have experience and training in areas like marketing, financing, negotiation and closing deals – this is the very expertise that Real Estate Agent offer.

It is Important to Know Why You Want to Sell Your Home.

1. You should have a clear idea why you want to sell your home.  Selling a home is an important matter and there should be a good reason to sell, such as moving to a new community, needing more space, retiring to a smaller home or moving closer to family. Your reason for selling can impact the negotiating process so it’s important to discuss your needs and wants in private with the Real Estate Agent who lists your home.

   To get an idea of whether it’s a seller’s market or a buyer’s market, many people start by looking at online or printed real estate guides to research the current market and the price of comparable properties.

2. Is Your Home Ready to Be Sold?
   The home-selling process typically starts several months before a property is made available for sale. For best results when selling your home, you need to look at your home through the eyes of a prospective buyer and determine what needs to be cleaned, painted, repaired and thrown out.

   Ask yourself: “If I were buying this house, what would I want to see?” The goal is to show a home which looks good, maximizes space and attracts as many buyers – and as much demand – as possible.

When setting a list price for your home, you should know the current market conditions. Consider the following pricing factors:

• If you set the price too high, your house won’t be picked for viewing, even though it may be much nicer than other homes on the street. You may have told your Real Estate Agent to just bring an offer, but compared to other houses for sale, your home looks way too expensive to be considered.

• If you price too low, you’ll short-change yourself. Your house will sell promptly, yes, but you may make less on the sale than if you had set a higher price and waited for a buyer who was willing to pay it.

Why You Shouldn’t Sell Your Home Without A Real Estate Agent?

Think twice before you decide to ‘save money’ and sell your own home. It just may backfire.

Research indicates that you’ll get roughly one tenth the exposure of a well-run brokerage if you decide to sell on your own. This means it will take on the order of ten times as long to sell your home. This impacts your selling price, because buyers view houses that have been long on the market as problematic. They might avoid it altogether because of this, or, at best, offer you very little.

Buyers of real estate consider how long a property has been on the market when determining their offers. Imagine that in your ninth or tenth month, after reducing your asking price several times, you can end up misreading the nature of the local housing market and price yourself too cheaply. So you lose.

Ask yourself if you possess the market savvy and requisite skill set to deal with seasoned brokers and veteran real estate lawyers and bring a deal successfully to close? And to get the best price in the bargain?

There’s a lot that can go wrong on your way to saving a little on commission.

Finally, the risk of a botched contract or mismanaged closing could expose you to expensive legal proceedings that far outweigh the pittance you initially hoped to save on commissions.

Please think twice before trying to sell on your own, especially in this market that we are in right now.

The Basics Of Real Estate Investing

Real estate investments may not be everyone’s cup of tea, but some people who have already tried investing in real estate know that it can be profitable. Real estate investment experts say there are several keys to making significant profits in real estate investment deals. And when the deals are profitable, you will certainly be well on your way to success.

For real estate investment neophytes, don’t be afraid of the challenges and pitfalls you may encounter along the way. There is definitely a lot to learn, but in the long run after you have gained some experience, you’ll hopefully become a master at closing profitable real estate deals.

There are 5 core skills that are necessary for building a real estate investment business. These will be the key factors in creating a profitable real estate investment portfolio.

These are the 5 core skills of real estate investment:

1. You must learn when and where to find the right kind of sellers.
2. You must learn the art of being a master negotiator when it comes to closing your real estate investment deals.
3. You must be able to quickly and accurately analyze each real estate investment deal so you’ll know exactly when to proceed and when to pull the plug.
4. You must become an expert in all areas of real estate investment and understand such terms as lease options, cash sales, short sales and other terminology common in the real estate investment trade.
5. You should totally understand the meaning and concept of investing in real estate, including all of the financial risks and benefits.

Now is a great time to consider investing in real estate.  Like Warren Buffet says… “When the masses are greedy is a time to be fearful, and when they are fearful is a time to be greedy” There are great potential rewards and the effort you put forth can yield enormous monetary returns on your investment.

Your confidence level will grow when you’ve gained some experience and closed on your first few real estate deals. But, don’t stop there…

Continue to learn about real estate investing and to develop your investment skills. In a short time you may find yourself managing a profitable and growing portfolio of investment properties.

Continue to follow your real estate investment “game plan” and always keep an eye out for the hidden investment opportunities. The opportunities are definitely out there and with a little knowledge and desire can be yours for the taking. So, why not get started in what might be a new and exciting (and profitable) career today? For more information please visit The Chamberlain Group today… and we can help you achieve what you want in life through investing in real estate.

Map of Calgary Show Homes – January 2009

Buying a brand new home can be a very exciting, as most likely you are getting exactly what you want, and not settling for a resale home with aspects you may or may not love.  There is a giant myth out there that Real Estate Agents are not able to work with new home builders, but in fact, this is not true, especially in this current market where builders are needing the MLS to market their homes.

Some builders will do almost anything to have you sign on the line, and with some rep’s that sit in the show homes not be fully qualified to sell homes, you will want someone on your side who has your best interest in mind and fully qualified.  We at the Chamberlain Group have had extensive experience with new homes and new home builders as we were apart of a development that sold 93 brand new condos where we did marketing and sales.

We have also had clients who wanted us to sit in on all meetings with the builder and even attend the meetings for picking out their flooring, lighting, cabinets etc. But then we have had clients that just want us to help them with all the paperwork and read over what the contract says to make sure that they are fully covered, as builders & developers use their own offer sheets that are drafted by their lawyers, and in most cases cover their ASSets before yours…

Whether you use us or not, it is very important to have a third party representative who has your interest and only yours as their number one priority.

On that note…

Below is a map of all the show home location in Calgary that was used in The Calgary Herald on January 3, 2009.  If you have any questions about new homes, show homes, spec. homes etc. please contact us at sales@tcgroup.ca or 403-366-3130

Please Click On The Image To Enlarge It

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