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8 Helpful Tips for Selling Your Home in a Balanced Market

2/22/2019

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As we’re now moving into a balanced market, getting your property to stand out on the street will take some creative know how. Although the number of buyers and sellers are equalizing, there’s still a lot you can do to get that sale contract signed.
​Low Down
When the amount of real estate invertor matches the number of buyers shopping the market, people tend to be pickier about the price they’re willing to pay. Really hone in on the listing price you’re comfortable with – if you want to sell quickly, consider listing it on the lower side. 
So Curb-y
Never underestimate the power of a well-manicured lawn and pretty flower boxes to grab the attention of potential buyers. Make sure the front of the house is looking its best – you never get a second chance to make a first impression. Buyers often drive around their preferred neighbourhoods window shopping, so give them show stopping curb appeal they can’t ignore. 
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​Order of Operations
If you’re selling your current home while concurrently buying a new property, you may want to reconsider. In a balanced market, counting on a predetermined selling price to finance the purchase of your new home until the current one is sold will give you a clearer picture of your purchasing power.
Inspector Gadget
While hiring a house inspector is usually done by buyers making an offer, get ahead of the game and hire one as a seller. Having that report available for potential purchasers takes one task off their plate and that swing the scales. Include the name of the inspection company and inspection date in the listing description, and even on the “For Sale” sign on your front lawn. 
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In the Fix
When the home inspector is on your property, ask them to highlight what they think are the top five repairs needed. Before even listing your home, consider hiring a contractor to take care of these problem areas. In a balanced market, the prospect of even minor renovations could scare off buyers, so nip those fears in the bud. 
Pack Up Rats
Nothing puts of potential buyers like a home they can’t even see thanks to stacks of papers, overflowing cupboards and messy countertops. Go through each room and pack up 50 per cent of the “stuff” – then store, donate or trash it. When people walk in their potential dream home, they want to see large, airy rooms, not shelves packed with personal knickknacks.
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Up the Ante
Millennials make up the largest cohort of buyers in Canada right now so consider adding features that appeal to this generation. Installing a wine fridge or new flat screen TV may cost your $1,000-$2,000 upfront, but your house will sell faster than one without.
Cents Incentives
In a balanced market, it’s all about making your property stand out in a sea of comparable properties. Offering something more creative than just your regular financial incentives, such as prepaying taxes or title-transfer costs, should do the trick. A year’s worth of landscaping services or paying homeowners’ association dues are just two examples of outside-the-box incentives. ​
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When there’s an equal number of houses on the market as people looking to buy, sellers may have to get creative. A balanced market usually means prices are stable so you’ll have to look beyond listing price to get people through the door. Luckily, there’s lots that can be done to get you that quick sale you’re looking for.
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FORT MCMURRAY REAL ESTATE MARKET - january 2019

2/13/2019

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The following is the Febuary Press Release from the Fort McMurray Real Estate Board.
JANUARY 2019 STATISTICS RELEASE
Statistics include Fort McMurray and surrounding area

We have had a slow start to 2019. The number of single family homes sold in January was down almost 50% when compared to January of last year. The number of active listing has increased nearly 20% with apartment listings seeing the largest increase from last year. The average single family sale price is down this month 7%.

Contact your friendly neighborhood real estate professional to see if it is the right time for you to make your move. As always the best advice is the trusted advice from your Real Estate Professional.

If you are thinking of buying or selling your home in Fort McMurray click here to contact a RE/MAX Agent. 
Complete statistics are posted monthly on our website www.fmreb.com.
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9 Home Buying Mistakes First Timers Make

2/5/2019

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9. Shopping before getting pre-approved for a mortgage.
Many first-time home-buyers decide they’re ready to take the leap, and start touring open houses “just to see what’s out there.” While getting a feel for the market is certainly a good idea, you risk falling in love with a home that is not in your budget. Before you start seriously shopping the market, visit your bank, mortgage broker or lender, and get a mortgage pre-approval. You’ll know the exact amount you’ll qualify for, so when you’re ready to make an offer, you can do so with confidence and no “conditional of financing” clauses.

8. Skipping the mortgage pre-approval altogether.
We’re mentioning this one again, because it’s super important. Getting pre-approved not only informs you of how much you can spend on a home, but it also guarantees the current interest rate for about 90 days, giving you the freedom to shop knowing you’re safe from rate hikes in the near future. With interest rates on the rise, this step is more important than ever.

7. Making major life changes when applying for a mortgage.
Once you’ve filed your application, avoid changing jobs, making big-ticket purchases on credit, or taking out new loans. These can all alter your financial picture, and can impact your ability to qualify for the mortgage or the amount you had originally anticipated. If possible, wait until after you’ve crossed the ‘t’s and dotted the ‘i’s.

6. Not saving enough for a down payment.
It’s true that the minimum requirement in Canada is five per cent, but try to put down at least 20 per cent of the purchase price. Having 20 per cent or more means you won’t have to take out a high-ratio mortgage – and avoid the mortgage default insurance premiums that go with it. If you are unable to save this minimum amount, this could be an indicator that you’re shopping beyond your financial capacity. Consider lowering your budget, delaying the purchase until you’ve saved enough money, and consult a trusted financial advisor for advice tailored to your situation.
READ: https://blog.remax.ca/much-will-cost-buy-house/

5. Not accounting for the “extra” costs.You can estimate to spend (approximately) between 1.5 to four per cent of the purchase price of the home. This includes costs such as the deposit, property insurance, title insurance, lawyer fees, home inspection fee, moving costs and more. Be sure to budget these into your purchasing plan.
Use this MONTHLY HOME BUDGET PLANNER to get started.

4. Not seeing enough homes.
Before you settle down, make sure you sow your oats, so to speak. Since you’ve never owned a home, and particularly if you’re moving from your parents’ place, you’ll want to tour lots of different home styles and neighbourhoods. Keep an open mind – you just mist surprise yourself! When narrowing down your home’s location, weigh factors such as proximity to work, family and friends; public transit and access to major roads and highways; and things such as shopping, services, green space, and your lifestyle. which will affect the liveability of the home, its current value, and the resale price of your home.
READ: Location Versus Home Style

3. Seeing too many homes.
Don’t get us wrong – it’s definitely a good idea to see what’s on the market, if only for the sake of comparison. You’ll gain a better understanding of what comparable homes are valued at, their condition, and your negotiating power. This is valuable intel, whether you’re buying your first home or your tenth. But buyer beware: particularly in a hot market, sitting on the fence can mean losing the property. A trusted, experienced real estate agent can best advise you on this.
CLICK TO FIND AN AGENT

2. Not getting everything in writing.
Under the right market conditions, negotiating may be part of your purchasing plan. Any conditions of the purchase and sale must be on paper. If it’s not in the contract, it doesn’t count. Your contract is your only way of holding the buyer and seller accountable. An experienced real estate agent can help advise you, and negotiate on your behalf.
READ: 7 Questions To Ask An Agent Before Your Commit

1. Biting off more than you can chew.
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You’ve likely heard the term “house poor.” Buying a home is a huge financial commitment, so ensure you can afford it. As a first foray into home ownership, condos are a popular choice, thanks to their lower price point, smaller footprint (read: less maintenance and lower operating costs) and their central locations. But condos are a lifestyle choice as well as a financial one. Consider your purchase from all angles.
READ: Buying A Home Without Breaking The Bank
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    Hi, my name is Dana McAroe. I'm a Real Estate Agent in Fort McMurray. I help people get the best possible outcome from their real estate transaction - whether they are selling or buying or a house. 

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Dana McAroe,
Real Estate Agent with REMAX Fort McMurray
remax fort mcmurray
9919 Biggs Avenue Fort McMurray AB T9H-1S2  -- Office (780) 804-1916    Fax (780) 743-4369 
​Each office is independently owned and operated
Copyright © 2020
​Real Estate Agent in Fort McMurray with REMAX Fort McMurray​
Whether you are 
selling your home or buying a house we are ready to get to work for you!
Please contact me directly if you have any questions about the Fort McMurray real estate market, or buying or selling a home in Fort McMurray, AB.
  • Home
  • Listings
    • Featured Listings
  • Seller
    • Tips for Selling Your Home
    • Wood Foundations
    • Selling at a Loss
    • Negotiating
    • Free Market Evaluation
    • Seller's Action Plan
  • Buyer
    • First Time Home Buyer's Guide
    • Condo Buyers Guide
    • Before Writing an Offer
    • Negotiating
    • Basement Suites
    • Wood Foundations
  • Blog
  • Contact
    • About Me