Wednesday, April 21, 2010
626 Waterfront on Lac Louisa-
House on the property with garage, Investigate development possibilities.626 feet of waterfront. http://tinyurl.com/2bpz4oc. Call or email me and I'll set you up with an appointment. Short commute to Ottawa.
Wednesday, April 14, 2010
Think twice before selling privately
Think twice before selling privately
Sure you may save money, but do you have the ability?
By Garry Marr, The Financial PostApril 14, 2010
On the surface it seems like a no-brainer: Sell your home privately and save thousands on the commission you would pay to a real estate agent.
The average house sale price in Canada was $331,171 in the first two months of this year. Based on that, if you save the 5% commission-- a rough average -- that's $16,558 in your pocket.
No so fast. The first thing you have to ask yourself is whether you have the time and the ability to acquire the knowledge you're going to need to sell your home, even in this red-hot market.
Michelle Tittley, 33, who works in an administrative role in the House of Commons, sold her home in Ottawa's east end this month -- in about 48 hours.
It's the third home she's sold privately in the last five years.
"I do my research and I keep an eye on the market," says Ms. Tittley, who thinks the key to selling privately is understanding market conditions.
She doesn't dismiss the real estate establishment. For her last sale, she invited three agents to her house -- all knowing her plan to sell privately -- and asked them what it was worth. All three figured they'd get a shot at the listing if she couldn't sell privately.
"I got prices ranging from $265,000 to $295,000. I did my own research, looked for other houses in the area and listed it for $285,000. I got over-asking for it," she says.
One of the first issues she faced was whether to offer a commission to agents who brought clients to her home. Some in the for-sale-by-owner (FSBO) community suggest you could face a boycott from potential buyers with agents if you don't pay their commission, in the range of 2.5% of the usual 5% rate on the sale price.
Ms. Tittley decided to offer 1% commission to buying agents when she advertised on Grape Vine Home Marketing Consultants, which operates one of the top FSBO Web sites in eastern Ontario. She sold to a buyer whose agent demanded 2.5% when her clients were out of earshot. "She told me the 2.5% was not negotiable," says Ms. Tittley.
So did she come out ahead not using an agent?
The agent-led buyers came in over the asking price at $288,950. Minus the commission, that netted her just over $281,000 after paying for the listing on Grape Vine. She would have paid a larger commission fee listing with an agent on the real estate industry's Multiple Listing Service system, but she'll never know if she would gotten better offers. She doesn't think so.
"I don't like to say agents don't work for their money, but they're working for the buyer, so why should I pay them?" says Ms. Tittley, who admits it was easy to sell in this real estate market. "It took me two-and-a-half months to sell my first house five years ago. I had open houses every weekend."
Phil Soper, chief executive of Brookfield Real Estate Services, which operates the Royal LePage brand, argues a transaction done through traditional realtors comes with a certain amount of security.
"The principle downside [to selling privately] is you are moving outside the complete web of regulations put in place by the provincial and federal governments to protect consumers," he says. "It's like buying pharmaceuticals offshore -- sure they might work."
One private-sale issue rarely discussed is that the buyer almost always expects a discount because he or she knows you are saving on commission.
Craig Osborne, president of Grape Vine, agrees private selling is not for everybody. "There is a bit of a time factor and you need to have the confidence to be able to negotiate," says Mr. Osborne, who charges $245 for a basic listing on the Web site, up to $795, which includes signs, a photographer, even access to a registered real estate agent.
Jeff Usher is the realtor Mr. Osborne sends people to if that's what they want. He gets no commission, but will help with pricing a property, tips on how to handle a sale and generally be available for any advice.
Mr. Usher's model is likely to become more popular as the real estate industry, under pressure from The Competition Bureau, changes its rules to allow consumers to opt for a package that has an agent post their property on the MLS and not do much else.
"The landscape in real estate is changing drastically," says Mr. Usher, who maintains in today's hot market you don't need the MLS or a realtor to sell a property.
True enough, but when the market cools and houses sit unsold for a few weeks, more than a few would-be private sellers will be calling their local realtor and deciding that paying commission -- hopefully, it will have come down from 5% -- will be money well-spent.
- - -
gmarr@nationalpost.com
© Copyright (c) The Ottawa Citizen
Sure you may save money, but do you have the ability?
By Garry Marr, The Financial PostApril 14, 2010
On the surface it seems like a no-brainer: Sell your home privately and save thousands on the commission you would pay to a real estate agent.
The average house sale price in Canada was $331,171 in the first two months of this year. Based on that, if you save the 5% commission-- a rough average -- that's $16,558 in your pocket.
No so fast. The first thing you have to ask yourself is whether you have the time and the ability to acquire the knowledge you're going to need to sell your home, even in this red-hot market.
Michelle Tittley, 33, who works in an administrative role in the House of Commons, sold her home in Ottawa's east end this month -- in about 48 hours.
It's the third home she's sold privately in the last five years.
"I do my research and I keep an eye on the market," says Ms. Tittley, who thinks the key to selling privately is understanding market conditions.
She doesn't dismiss the real estate establishment. For her last sale, she invited three agents to her house -- all knowing her plan to sell privately -- and asked them what it was worth. All three figured they'd get a shot at the listing if she couldn't sell privately.
"I got prices ranging from $265,000 to $295,000. I did my own research, looked for other houses in the area and listed it for $285,000. I got over-asking for it," she says.
One of the first issues she faced was whether to offer a commission to agents who brought clients to her home. Some in the for-sale-by-owner (FSBO) community suggest you could face a boycott from potential buyers with agents if you don't pay their commission, in the range of 2.5% of the usual 5% rate on the sale price.
Ms. Tittley decided to offer 1% commission to buying agents when she advertised on Grape Vine Home Marketing Consultants, which operates one of the top FSBO Web sites in eastern Ontario. She sold to a buyer whose agent demanded 2.5% when her clients were out of earshot. "She told me the 2.5% was not negotiable," says Ms. Tittley.
So did she come out ahead not using an agent?
The agent-led buyers came in over the asking price at $288,950. Minus the commission, that netted her just over $281,000 after paying for the listing on Grape Vine. She would have paid a larger commission fee listing with an agent on the real estate industry's Multiple Listing Service system, but she'll never know if she would gotten better offers. She doesn't think so.
"I don't like to say agents don't work for their money, but they're working for the buyer, so why should I pay them?" says Ms. Tittley, who admits it was easy to sell in this real estate market. "It took me two-and-a-half months to sell my first house five years ago. I had open houses every weekend."
Phil Soper, chief executive of Brookfield Real Estate Services, which operates the Royal LePage brand, argues a transaction done through traditional realtors comes with a certain amount of security.
"The principle downside [to selling privately] is you are moving outside the complete web of regulations put in place by the provincial and federal governments to protect consumers," he says. "It's like buying pharmaceuticals offshore -- sure they might work."
One private-sale issue rarely discussed is that the buyer almost always expects a discount because he or she knows you are saving on commission.
Craig Osborne, president of Grape Vine, agrees private selling is not for everybody. "There is a bit of a time factor and you need to have the confidence to be able to negotiate," says Mr. Osborne, who charges $245 for a basic listing on the Web site, up to $795, which includes signs, a photographer, even access to a registered real estate agent.
Jeff Usher is the realtor Mr. Osborne sends people to if that's what they want. He gets no commission, but will help with pricing a property, tips on how to handle a sale and generally be available for any advice.
Mr. Usher's model is likely to become more popular as the real estate industry, under pressure from The Competition Bureau, changes its rules to allow consumers to opt for a package that has an agent post their property on the MLS and not do much else.
"The landscape in real estate is changing drastically," says Mr. Usher, who maintains in today's hot market you don't need the MLS or a realtor to sell a property.
True enough, but when the market cools and houses sit unsold for a few weeks, more than a few would-be private sellers will be calling their local realtor and deciding that paying commission -- hopefully, it will have come down from 5% -- will be money well-spent.
- - -
gmarr@nationalpost.com
© Copyright (c) The Ottawa Citizen
Capital housing prices outpacing other cities
Appears the trend is continuing. Good news for owners and a reason to become a Capital city property owner.
Capital housing prices outpacing other cities
Capital housing prices outpacing other cities
Monday, April 12, 2010
Competition czar fires back at realtors
I believe that there was and is no basis for the Competition Bureau's action.
Competition czar fires back at realtors
Competition czar fires back at realtors
Friday, April 09, 2010
Thursday, April 08, 2010
A Penny Savers Shopping Mall
The Secrets to a Successful Garage Sale
By: Ian Ponting
It is probably the only time you can throw your unwanted items on your front lawn without provoking a disapproving look from your neighbours. Instead, they’ll likely saunter over with a pocket full of money and a few cold beverages. This is what makes garage sales so appealing – they’re equally fun and profitable.
Garage sales are perfect for those planning a move. Alternatively they serve as a great incentive for those who have compiled a lot of extra ‘stuff’ over the years. They can prove especially profitable if you begin with a plan.
It is essential to begin planning a few weeks in advance so you have time to implement sales techniques, such as advertising. The best way to advertise is by adding unique touches to customary advertising ideas. Attaching an assortment of colourful balloons to a sign, or using a catchy phrase in your newspaper ad will help generate excitement. Your local real estate office can also provide you with garage sale signs. You should begin advertising about three to four days in advance of the sale. Be careful not to advertise too early as this could cause potential customers to forget about your sale.
You will have to select a start and finish time for your sale. For maximum success, it is suggested to begin around 7 am, as most garage sale goers are early birds.
A plan will help you prepare for the unexpected, such as a rainstorm. Simply setting up your sale in a sheltered location, such as a garage, or having an alternative location to quickly move your items to in the event you do get showered upon, could help avoid the cancellation of a planned event.
To avoid last minute scrambling, make sure all items you need for the sale are prepared in advance. Some things that should be on your list include plastic bags for shoppers, tables, boards and boxes to display your items and markers and tape for sudden price changes. You can even prepare for price changes by deciding beforehand how willing you are to negotiate on your prices. In most cases, you should have room to lower your fees by 25 to 50 per cent. You will also need to decide what methods of payment you will accept.
Once you have your advertising complete and your basic items prepared, you can plan your merchandising. This is an area that can separate profitable garage sales from ordinary ones. For example, to attract customers you should display your most unique and interesting items close to the street, where they will be easily spotted. Take advantage of product placement by placing children’s toys next to women’s clothing, which should help keep children occupied while their mothers shops. Although clothes are often difficult to sell at garage sales, you can improve your chances by neatly hanging and showcasing the garments rather than pilling them up.
Grouping similar items together will make the shopping experience more pleasurable and familiar to those who frequent department stores. Place all similar items together, just as they are done in your favourite store.
To ensure that people stay long enough to peruse over all your goods, make sure they’re comfortable. On a warm day, offer cold glasses of lemonade and juice. For the early birds, have coffee and donuts on hand. To keep the atmosphere lively, not to mention original, play music in the background throughout the day.
These simple tactics will make your garage sale more profitable for you, and more pleasurable for your customers and neighbours, giving them one more reason to drop in for a visit.
Every effort has been made to ensure the accuracy of this article. However, the information provided is general in nature and those with specific questions should seek professional advice that meets their particular requirements.
By: Ian Ponting
It is probably the only time you can throw your unwanted items on your front lawn without provoking a disapproving look from your neighbours. Instead, they’ll likely saunter over with a pocket full of money and a few cold beverages. This is what makes garage sales so appealing – they’re equally fun and profitable.
Garage sales are perfect for those planning a move. Alternatively they serve as a great incentive for those who have compiled a lot of extra ‘stuff’ over the years. They can prove especially profitable if you begin with a plan.
It is essential to begin planning a few weeks in advance so you have time to implement sales techniques, such as advertising. The best way to advertise is by adding unique touches to customary advertising ideas. Attaching an assortment of colourful balloons to a sign, or using a catchy phrase in your newspaper ad will help generate excitement. Your local real estate office can also provide you with garage sale signs. You should begin advertising about three to four days in advance of the sale. Be careful not to advertise too early as this could cause potential customers to forget about your sale.
You will have to select a start and finish time for your sale. For maximum success, it is suggested to begin around 7 am, as most garage sale goers are early birds.
A plan will help you prepare for the unexpected, such as a rainstorm. Simply setting up your sale in a sheltered location, such as a garage, or having an alternative location to quickly move your items to in the event you do get showered upon, could help avoid the cancellation of a planned event.
To avoid last minute scrambling, make sure all items you need for the sale are prepared in advance. Some things that should be on your list include plastic bags for shoppers, tables, boards and boxes to display your items and markers and tape for sudden price changes. You can even prepare for price changes by deciding beforehand how willing you are to negotiate on your prices. In most cases, you should have room to lower your fees by 25 to 50 per cent. You will also need to decide what methods of payment you will accept.
Once you have your advertising complete and your basic items prepared, you can plan your merchandising. This is an area that can separate profitable garage sales from ordinary ones. For example, to attract customers you should display your most unique and interesting items close to the street, where they will be easily spotted. Take advantage of product placement by placing children’s toys next to women’s clothing, which should help keep children occupied while their mothers shops. Although clothes are often difficult to sell at garage sales, you can improve your chances by neatly hanging and showcasing the garments rather than pilling them up.
Grouping similar items together will make the shopping experience more pleasurable and familiar to those who frequent department stores. Place all similar items together, just as they are done in your favourite store.
To ensure that people stay long enough to peruse over all your goods, make sure they’re comfortable. On a warm day, offer cold glasses of lemonade and juice. For the early birds, have coffee and donuts on hand. To keep the atmosphere lively, not to mention original, play music in the background throughout the day.
These simple tactics will make your garage sale more profitable for you, and more pleasurable for your customers and neighbours, giving them one more reason to drop in for a visit.
Every effort has been made to ensure the accuracy of this article. However, the information provided is general in nature and those with specific questions should seek professional advice that meets their particular requirements.
Wednesday, April 07, 2010
Ottawa housing Market Soars into Spring -
April 7, 201
source: Ottawa Real Estate Board
Members of the Ottawa Real Estate Board sold 1,499 residential properties in March through the Board’s Multiple Listing Service® system compared with 1,161 in March 2009, an increase of 29.1 per cent.
Of those sales, 327 were in the condominium property class, while 1,172 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
“The spring market kicked off early and strong this year, possibly boosted by the unseasonably warm weather and absence of snow in March,” said Board President Pierre de Varennes. “Inventory is still lower than at this time in 2009, but has begun to increase slightly in recent months,” he added.
The average sale price of residential properties, including condominiums, sold in March in the Ottawa area was $329,767, an increase of 15 per cent over March 2009. The average sale price for a condominium-class property was $240,409, an increase of 15.1 per cent over March 2009. The average sale price of a residential-class property was $354,698, an increase of 15.1 per cent over March 2009. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.
The Ottawa Real Estate Board is an industry association of 2,540 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association and thus are entitled to use the term REALTOR®.
The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.REALTOR.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area and now online at www.OttawaRealEstateGuide.ca.
source: Ottawa Real Estate Board
Members of the Ottawa Real Estate Board sold 1,499 residential properties in March through the Board’s Multiple Listing Service® system compared with 1,161 in March 2009, an increase of 29.1 per cent.
Of those sales, 327 were in the condominium property class, while 1,172 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
“The spring market kicked off early and strong this year, possibly boosted by the unseasonably warm weather and absence of snow in March,” said Board President Pierre de Varennes. “Inventory is still lower than at this time in 2009, but has begun to increase slightly in recent months,” he added.
The average sale price of residential properties, including condominiums, sold in March in the Ottawa area was $329,767, an increase of 15 per cent over March 2009. The average sale price for a condominium-class property was $240,409, an increase of 15.1 per cent over March 2009. The average sale price of a residential-class property was $354,698, an increase of 15.1 per cent over March 2009. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.
The Ottawa Real Estate Board is an industry association of 2,540 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association and thus are entitled to use the term REALTOR®.
The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.REALTOR.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area and now online at www.OttawaRealEstateGuide.ca.
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