Who is behind the wheel?

 Sellers often feel that, once they sign an agreement with an agent to sell their home, everything is then out of their hands.  Some Sellers seem to give up and think that the agent will – should – could do it all without them being concerned or involved.  When would these same people pay tens of thousands of dollars to a contractor for a task in their home and not want to have some say?  I think ……. NEVER.  So, why do Sellers seem to give up control on the sale of their home? 

I believe Sellers do not know what they can expect from an agent.  They get overwhelmed when they meet to discuss selling their home and just do not get pen to paper on what they want and what they expect.  For example, if the listing has spelling mistakes and errors, why are Sellers not calling their agent to get these fixed?  If Sellers expect the agent (and not the team) to be available throughout the sale, why don’t they put this in writing? 

As you would with a contractor doing a $25,000 to $50,000 job in your home, set out what you want and expect and have a frank and open discussion with your potential agent …. before signing the listing contract.  If you have some very specific requirements, then make sure that these form part of the contract so that, if these are not done, you have recourse to discuss this with the agency.  Every agent that I worked with was willing to do their best to get a home sold.  Things went awry when the Seller and the agent differed in what they assumed to be components of the sale.  Good communications will resolve so many problems BEFORE they occur.  At the end of the day

Who is driving the sale?  My hope is that it is the Sellers.

Photo credit:  Lourmanir – Namaste – three whelled vehicle

Valerie Zinger  

Don’t Be Cheesey with Your Home Staging

Buyers want to be able to see themselves or their better selves in a new home.  Do you have a cupboard full of chips and chocolate bars, dust on your treadmill and a stack of Harlequin Romances on your night table?  Even if the can says cheese, there is none in those tasty little treats.  

Clean up your act.  Stage it so that Buyers think that your home is for healthy, active and intellectually stimulated people.  You know, people who eat brie on an apple slice while doing their cardio on the elliptical machine in front of a television playing the BBC.  

It may be an illusion that is worth the effort.  

Photo credit: cheese

The Boomer’s Dream – A No Hassle Condo

This makes me think of The Man of La Mancha - The Impossible Dream.  While condo dwelling is highly unlikely to be as unpalatable as living in Don Quixote’s dungeon, itmay not live up to the expectations of the carefree living the Boomer is hoping to obtain. 

When retirement finally arrives, many Boomers have plans to spend time traveling, reading, relaxing by a pool, maybe fishing and spending weeks every year at a cottage.  Having the big suburban home AND having the freedom to live the nomadic life may not be compatible objectives.  This is when the Boomer starts dreaming of moving to a condo.  Boomers were brought up to be owners.  Condos are a type if shared ownership.  Just remember, condos were not likely in existence when the Boomer was an apartment renter and just starting out on his or her own.  Some things are going to be a surprise. 

In life, there are always trade-offs and compromises.  The attraction of a condo is to have the freedom to close your door and take off for months without worrying about your home, to never have to mow the lawn or water the flowers, to have the exterior of your home maintained and to share in the costs of the common parts of the property.  The downside is:

After living in a suburban home with the independence of total ownership, condo living trades some of this for additional freedoms and peace of mind for not having to be personally responsible for the property. 

Don’t tilt at the windmills.  Make sure that you see the windmill and not your dreams   

Photo credit:  Windmill

Downsizing Boomers May Be In For A Surprise

This is a story that is being repeated all over the country.  Boomers want to downsize.  This is hardly a surprise.   The surprise or even shock is that it is going to cost them money to live in less space.  To some, it is so appalling that they have decided to stay in their current home.  

Boomers own their home in the suburbs.  Most are mortgage free.  The home has four bedrooms, three baths, a family room, a rec room in the basement, two or three car garage and a huge yard full of trees and shrubs and maybe a pool.  Okay, there may be variations of this but the essence is – the boomers own family friendly property.  Now……  The kids have finished school and left the nest.  The Boomers are rattling around a big house and find that they live in the kitchen – family room space and their bedroom.  It seems that it is time to move to something smaller.

Here is the rub.  The new home or condo may cost more than the proceeds from the sale of the big home in the suburbs. What?  

  1. The market has reacted to the demand for large condos and retirement homes by placing a premium on the sales price.  Remember, the Boomers are a tidal wave moving through demographic data.  If you, a Boomer, are thinking of downsizing then so are millions of your fellow 1946-1964 birthday buddies. Simple supply and demand economics at work.
  2. Your lovely home is a wee bit tired.  Forty plus years of the same kitchen, with the wrought iron railings, pink carpet, parquet flooring and paneled rec room is telling the story.  Although you have house size you have a house waiting for updating and renovations.  Your home is not competitive.  It is not giving Buyers what they want in updates.
  3. You want to move but you are certainly not going to settle for apples to apples.  Your tastes are now refined and you want granite and a bungalow backing on a golf course with grounds keepers or the whole top floor of a condo in the downtown area.  You are selling a MacIntosh apple to buy an organically grown Star Fruit.   Would you be happy buying the little bungalow down the block from your current home with the need for the same updates as your current home?  Would you be happy with the location?   No?  

After finding out that their home is not the gold mine that they hoped for, many potential Boomer Sellers make the decision to stay in their current home. In some cases, the Boomer will update the family home, adjust the buying expectations and make the move at a later time.  

Photo Credit:  UK Baby Boom and Bust by David Willets

Snowbirds need to be Snowy Owls

It is January.  The cold sets in to the northern states and Canada and whole flocks of people head south for a reprieve from the misery of boots and parkas.  Many people go to the same location year after year.  They develop friendships and links to the community.  It gets to be a home away from home and eventually, what with the crash in home prices, the Snow Bird starts to think of buying versus renting.

Oh, it is tempting to see residential and condo opportunities at an unbelievable price.  For Canadians, the temptation is compounded with the strength of the Canadian dollar.  Buy or rent?  Buy or rent?  I get asked this question a lot.  Mostly these come from friends and acquaintances who have been going to Florida – Texas – Arizona for years.  I have a couple of questions just to make them think that there are both pros and cons to buying.

Now, this might sound like a long list of negatives but…..  The temptation to buy is so great and the deals are so wonderful that the informed buyer needs to spend some time considering all of the pros AND cons.
 
Be a wise snowy owl and do your due diligence before making a buying decision. 
 
Every summer for 20 years I shopped for a cottage.  Something always stood in the way of making the final purchase decision.  Sometimes it was the money or the location or our relocation or the work needed to be done or the worry. Now we are going through the same process over winter vacation properties.  My dream situation would be to have a shared interest with one other couple on a vacation property so that the cost, responsibility and time could all be shared. 

 Photo credit:  Snowy Owl