Paulette Maltais 780-907-4550

Are you self-isolating in your house?
If your answer is yes then now might be a great time to be “sprucing up” your house so it is ready for the market.
If you have read my previous posts you will have a list of what to do to prepare the exterior of the house as well as the mechanical system. Another project would be to start decluttering. Because of what is happening and the children being at home this would be a great time to go through each bedroom and start decluttering. (When the children are in school this would become a week-end project.) Closets would be the perfect place to start. As we are also moving from the winter season to the spring and summer season you can go through each closet with your child and check what he/she has overgrown or no longer wearing and start a pile of clothes that is no longer needed so that once you have completed the decluttering of the closets you can bag the clothes and drop them off at a location that collects used clothing and items or you can call the Diabetes Association and they will give you a date that they will be in your neighbourhood and will pick up your clothing/small item bags or boxes directly from your front porch. If there are loose items at the bottom of the closet or on shelves putting them in “cool” baskets helps your child to be organized and makes the closet look much neater. This will leave a good impression with the Buyers when they open the closet door. An alternative to baskets is simply to go to a “Dollar store” and buy colourful gift bags (same or different sizes) and use those to organize the closets. This is a nice cheap substitute if you will not be using them in the new home. Having your closets look as big as possible is definitely a “SELLING FEATURE”. Once each child has decluttered and organized their closet it is time to move to yours and do the same thing!
If you got value from this post be sure to check-out my next post.
www.slhome.ca

After you have finished decluttering your closets you move to the dressers. I find that, just like in a closet, small baskets are great to keep the drawers organized. I have all of my socks in one, my tights in another, bras in another and underwear in another. As they are each in their own basket even if they are not perfectly folded … the drawer still looks and is or feels more organized. If you have any give aways, Saint Vincent de Paul is a great organization that will pick up your donations and in turn donate it to families that will make good use of the donated items.
If you are thinking of selling your house in the next three to six months and feel that you will not have time to go through everything before putting it on the market, give me a call and we can discuss your personal situation to see what will bring the most value to your home. 780-907-4550
www.slhomes.ca

You can start by the mechanical – furnace, electrical and plumbing.

– Clean or change your furnace filter
– Wash or dust the top of your water heater and your
furnace.
– Call Atco to make an appointment to check the furnace
and all gas appliances.
– Have your furnace and ducts cleaned
– Make sure that any burnt light bulbs are replaced and
while your are doing that, wipe down/wash all your light
fixtures.
– If your fixtures are dated, you might want to consider
replacing them with more trendy light fixtures. There are
some nice inexpensive light fixtures that can help sell the
house by brightening it up as well as giving it a new
contemporary look.
– Check your light switches and plug-ins. Replace any
plates that may be missing. This would also be the time
to wipe down/wash any light switches and plug-ins.
– Check sinks, tubs and toilets. Drains should be working
properly, taps should not be leaking and toilets should
be flushing properly. If you are having any plumbing
issues this would be the time to call in the plumber.

If you want more information on how to prepare your home for the Real Estate market feel free to reach out to me.

If you are, now is a great time to make sure that the house is in tip top shape. This way a buyer is more likely to put your house at the top of their list. The first thing to do is to insure that your house is well maintained and there are no red flags indicating that the house has been neglected.
Below is an Exterior maintenance list to help you start preparing for the sale of your house.
Exterior maintenance list for the Spring Season
Inspect the roof for missing, loose, or damaged shingles and repair or replace as needed.
Check the gutters and downspouts. Clean the gutters from leaves and debris. Make sure the downspouts are secure and replace any missing downspouts.
Power-wash the exterior of the house if possible. At the very least the front door should be sparkling clean and all exterior windows should be washed
Replace cracked windows and missing screens.
Make sure that front steps are clean and clear from any tripping hazards and check that the rails are secured properly
When the weather warms up you will need to remember to re-attach the exterior drain line to the sump pump attachment.
Make sure that any of the spring melt is flowing away from the house. Always maintain positive landscaping around the house to be sure that water doesn’t find its way into your basement.
Check the caulking and weather stripping around the doors and windows and repair or remove and replace if needed.
Rake and fertilize your lawn as soon as the weather permits so that it is off to a great start and it looks great when your house is put up for sale.
Check that your sidewalk is not a tripping hazard. If the city walks in front of your property have shifted and are a hazard phone the city to have it checked out. If your own walks are a hazard have them fixed so anyone can walk around the property safely.
Once the warm weather has settled in put away your snow shovels and snow melt so that they are not an eyesore during viewings.
Check that your exterior lights are working properly and that any burnt out bulbs are replaced. If your lights fixtures are old and do not work properly you should replace them. There are some nice exterior light fixtures that are not expensive and can make a considerable change of the look of the exterior. I would say the same for the mail box (if you have one). If it is old, replace it.
If you can think of anything else that should be included in this Exterior maintenance please message me.
Stay tuned for more tips on how to prepare your house for the Real Estate market.

Paulette Maltais, Professional Real Estate Agent
Published by Marketing Center · March 15 at 10:50 AM ·
Home for sale in: Edmonton, A

Provided by the Alberta Real Estate Association

———————-

October 17, 2016 is a critical date – changes to mortgage insurance rules were announced by the federal government and will take effect that day. Do you understand the changes and how they will impact your clients and the real estate industry?

Mortgage insurance rules will change to require all insured mortgages to undergo a ‘stress test’ from the lender. That test will require the buyer to qualify for a mortgage at the Bank of Canada posted rate, currently 4.64%, even though they would still receive the contract rate.

The buying power of the client will be lowered by the need to qualify at the higher rate.

Example (as provided by a mortgage professional)

Family A is qualifying for a mortgage using the following information:

Current Annual Family Income $87,000
Household Debt Payments $700 per month
Property Tax Payments $3,000 per month
Down Payment 5%
Mortgage Rate 2.49%
Result:

Qualifying for a mortgage today, Family A qualifies for a purchase price of $450,000.
Qualifying for a mortgage after October 17, 2016, given the need to qualify at the Bank of Canada rate of 4.64%, Family A qualifies for a purchase price of $360,000.
Questions

Ask your clients to speak with a mortgage professional about their circumstances. In many cases, the changes will affect their buying power and adjustments may need to be made to their search criteria.

Accepted Offers to Purchase signed before October 17, 2016 will qualify under the current rules provided that the mortgage is funded by March 1, 2017.
——-

printed from Alberta Real Estate Association newsletter

** ATTENTION,

If you are looking to buy Real Estate please keep reading…

After several years of the Bank of Canada changing the rules to home buying/qualifications, this new rule change today will hurt the housing market in my opinion. This will slow home buying and drop prices all together in this market. I have attached the article to read, but to summarize:

When I qualify a client on a 5 year insured term, I simply use the 5 year rate that they will be paying. After October 17th, I and all other lenders will have to use the bank posted rate of 4.64%. So as per the example below, you tell me what is going to happen to home prices and the number of your clients that can’t get into the homes you have been showing.

The new qualifying mortgage rate announced today means people will not qualify for as large a mortgage as before. Under the current qualifying rule, someone earning a combined $60,000 with 0 per month in non-mortgage loan payments would easily qualify for a $350,000 home with a 5 per cent down payment. Under the new rule they will not qualify for the same home, that value drops to $270,000. The new rule goes into effect Oct 17th (and probably unofficially a few days sooner.) If you were planning on buying a home you’ve got two weeks at the most before you are impacted by the tougher qualifying rule.

http://www.cbc.ca/news/business/ottawa-housing-tax-real-estate-1.3788725

Duane Springsteel
Mortgage Broker
The Mortgage Group AB

Please keep your family and your home safe during the Christmas and Holiday season by following Pillar to Post (Home Inspection) suggestions.

“Residential fires take their toll every day, every year, in lost lives, injuries, and destroyed property. According to the National Fire Protection Association, a home structure fire was reported every 86 seconds in the U.S. in 2014. The fact is that many conditions that cause house fires can be avoided or prevented by homeowners. Taking the time for some simple precautions, preventive inspections, and concrete planning can help prevent fire in the home – and can save property and lives should disaster strike.
• All electrical devices including lamps, appliances, and electronics should be checked for frayed cords, loose or broken plugs, and exposed wiring. Never run electrical wires, including extension cords, under carpet or rugs as this creates a fire hazard.
• Fireplaces should be checked by a professional chimney sweep each year and cleaned if necessary to prevent a dangerous buildup of creosote, which can cause a flash fire in the chimney. Cracks in masonry chimneys should be repaired, and spark arresters inspected to ensure they are in good condition and free of debris.
• When using space heaters, keep them away from beds and bedding, curtains, papers – anything flammable. Always follow the manufacturer’s instructions for use. Space heaters should not be left unattended or where a child or pet could knock them over.
• Use smoke detectors with fresh batteries unless they are hard-wired to your home’s electrical system. Smoke detectors should be installed high on walls or on ceilings on every level of the home, inside each bedroom, and outside every sleeping area. Statistics show that nearly 60% of home fire fatalities occur in homes without working smoke alarms. Most municipalities now require the use of working smoke detectors in both single and multi-family residences.
• Children should not have access to or be allowed to play with matches, lighters, or candles. Flammable materials such as gasoline, kerosene, or propane should always be stored outside of and away from the house.
• Kitchen fires know no season. Grease spills, items left unattended on the stove or in the oven, and food left in toasters or toaster ovens can catch fire quickly. Don’t wear loose fitting clothing, especially with long sleeves, around the stove. Handles of pots and pans should be turned away from the front of the stove to prevent accidental contact. Keep an all-purpose fire extinguisher within easy reach. Extinguishers specifically formulated for grease and cooking fuel fires are available and can supplement an all-purpose extinguisher.
• Have an escape plan. This is one of the most important measures to prevent death in a fire. Visit ready.gov for detailed information on how to make a plan. Local fire departments can also provide recommendations on escape planning and preparedness. In addition, all family members should know how to dial 911 in case of a fire or other emergency.
• Live Christmas trees should be kept in a water-filled stand and checked daily for dehydration. Needles should not easily break off a freshly-cut tree. Brown needles or lots of fallen needles indicate a dangerously dried-out tree which should be discarded immediately. Always use nonflammable decorations in the home, and never use lights on a dried-out tree.
• Candles add a festive feeling, and should be placed in stable holders and located away from curtains, drafts, pets, and children. Never leave candles unattended, even for a short time.
• Holiday lights should be checked for fraying or broken wires and plugs. Follow the manufacturer’s guidelines when joining two or more strands together, as a fire hazard could result from overload. Enjoy indoor holiday lighting only while someone is home, and turn them off before going to bed at night.
Your local Pillar To Post office wishes you and your clients a happy and safe holiday season.”

THE PILLAR TO POST DIFFERENCE
• The Pillar To Post Inspection Report is generated on site at the completion of the inspection, so your client won’t have to wait for the results.
• All Pillar To Post inspectors carry E&O insurance to protect you, the referring agent.
• Three different Home Inspection Packages to choose from that allow your client to select the range of services they prefer – click here to learn more.
• As North America’s leading home inspection company, Pillar To Post is committed to providing the highest quality service to real estate professionals and their clients.
The Edmonton Team of Professionals serving the City of Edmonton, St. Albert, Sherwood Park and surrounding areas. Michel and his team of Qualified, Certified and Registered Home Inspectors belonging to the Canadian Association of Home & Property Inspectors (CAHPI) have gone on to earn the trust of buyers, sellers and Real Estate professionals. Our office has grown into one of the largest and most respected full service Inspection Companies in the area offering Professional Home and Commercial Inspections.

Michel Bourgeois RHI – Manager

To Book an Inspection: inspectionsEdm@pillartopost.com
To View our Web Site: www.pillartopost-edmonton.com

Pillar To Post | 16912-111 Ave | Edmonton | Alberta | T7Z 2G1 | Canada

“Year-over-year prices steady, up over 1% Edmonton, November 3, 2015: The outlook for Edmonton’s housing market remains stable. The average residential price in October for the Edmonton Census Metropolitan Area (CMA) is up 1.72% year-over-year (YoY) despite reported sales being down 15%. Single family sales are down 14%, with prices up 3% YoY. Condo sales are down 17% YoY and prices are down almost 6% from October of 2014.
“The average recorded selling price of single family homes in October was bolstered by the sale of two properties well over the $3.5 million mark. Even without these sales we are continuing to see strong prices in this category,” explains Geneva Tetreault, Chair of the REALTORS® Association of Edmonton. “We will likely continue to see average days on market grow as the inventory remains higher than last year and single family sales are down almost 15%.” Average days on market for all residential properties was 57 this month, up almost 8% over last month and up from last year when average days on market was 51. Single family average days on market was up to 56. Condominiums were averaging 61 days on market compared to 57 in September, and duplex/rowhouses took an average of 49 days to sell in October, down from 51 days the previous month.
A single family home in the Edmonton Census Metropolitan Area (CMA) sold for an average of $438,935; up 1.57% from September. The average price for condominiums ($244,225) fell 3.45% over last month. Duplex/rowhouses also dropped to an average of $359,130 – down 1.39% from the previous month but up 1.76% from 2014. All residential properties average price sat at $371,756, up 0.78% from September.
“It is common to see a dip in both sales and prices at this time of year, but condos have definitely been the most affected. The influx of inventory, both new and resale, has given buyers a bigger selection and more time to make their choice.” Tetreault continues, “There are buyers out there
looking to take advantage of low interest rates and the great selection of inventory of all types of property. Sellers need to be competitive in a market with healthy inventory.” All residential active inventory remains robust with 6,641 residential properties available in the Edmonton CMA at the end of October, down from September by 6.57% but still up over last October by 48.47%.”

Prices Stay Nearly Unaffected by Dip in Sales

Oct 9, 201577 views7 Likes2 CommentsShare on LinkedInShare on FacebookShare on Twitter
Edmonton, October 2, 2015: The average residential price in September for the Edmonton Census Metropolitan Area (CMA) is down less than 1% year-over-year (YoY) despite reported sales being down 6.76%. Single family sales (down 9.72% YoY) and condo sales (down 9.07%) continue to be down over levels reported in September of 2014, while duplex/rowhouses (up 17.21% YoY) buck the trend.

“The strength of prices in the Edmonton market is an excellent indication that we are maintaining stability,” explains Geneva Tetreault, Chair of the REALTORS® Association of Edmonton. “Buyers continue to see the benefits of a healthy inventory but we haven’t seen many sellers dropping prices significantly in order to compete. Last year’s market and its low inventory made buyers feel pressure to jump into an offer if they found something they like. We are seeing buyers take a little more time in the decision making process this year.”

A single family home in the Edmonton Census Metropolitan Area (CMA) sold for an average of $432,150; down 1.75% from August and down 0.98% YoY. The average price for condominiums ($252,953) fell 0.68% over last month and 1.05% over last year. Duplex/rowhouses did well at an average of $364,203 – up 2.76% from the previous month and up 4.28% from 2014. All residential properties sat at $368,874; down 0.91% from August and down 0.75% over September 2014.

“We will likely see prices continue to dip as we move into the colder months. Real Estate in Edmonton has a very seasonal trend and colder months always mean fewer sales. We may see buyers take advantage of this trend and benefit from low interest rates while they still can,” Tetreault says.

All residential active inventory remains healthy with 7,108 properties available at the end of September, down from August by 1.65% but still up over last September by 47.71%.

Average days on market for all residential properties was down this month by 1 over last month sitting at 53. This is up by 8.51% from last year. Single family average days on market was down to 51. Condominiums were averaging 57 days compared to 56 in August, and duplex/rowhouses took an average of 51 days to sell in September.

REALTORS® Association of Edmonton
(Fall 2015)

Some people might tell you that this is the perfect time to be selling your home in the Edmonton area, because prices are very strong right now. Others, might argue that it’s not the best time, because inventory levels are high, sales are down, and homes are spending longer on the market than they were a year ago. Your local REALTOR® will tell you that it may or may not be the best time to sell your home, depending on what’s happening in your life right now!

It’s true that sellers are enjoying the higher price levels they have to work with today. It’s also true that it might take a little longer to sell, because buyers are taking a little more time and enjoying the selection available. The truth is, it can still be a very good time to sell, but you may have to work a little harder to stand out, and you may need a little more patience than you would have if you listed at this time last year.

Your local REALTOR® can help you understand what’s happening with home prices, to be competitive. Your local REALTOR® can help you make your home more attractive to potential buyers. Your local REALTOR® can help you decide it it’s the right time to sell, based on what’s happening in your life. Your local REALTOR® – here when life happens.