Barrie Home Inspector

Home Maintenance and Tips for Home Owners

Tag: home buying

Buying or Selling a Home in Innisfil

Buying or Selling a Home in Innisfil. There are a lot of emotions involved when buying or selling a home, but negotiating the price shouldn’t be.  Having a plan prior to negotiating is key to preventing stress during the turbulence involved in high-stakes negotiations.  Your Innisfil Real Estate Agent can guide you and advise you but eventually you must make the final decision.

First time home buyers get a lot of tips from friends, family and co-workers, much of which is probably good advice gleaned from their own home buying experiences.  Your Professional Innisfil Realtor has bought and sold hundreds of homes and is more prepared to advise you on many obstacles that may arise and often do.  The more you know, the better equipped you are to negotiate.

Plan your attack.  Determine what features you want and what they are worth to you. Know in advance the most you’re willing to pay, and with your agent work back from that number to determine your initial offer, which can set the tone for the entire negotiation. A too-low bid may offend sellers emotionally invested in the sales price; a too-high bid may lead you to spend more than necessary to close the sale.

When selling your home you want to present the best possible view of  your home.  Most Professional Innisfil Real Estate agents will help you in this area using their years of experience to guide you.  From making minor repairs to plumbing, electrical, caulking, sidewalks and painting, what your prospective buyer first sees when initially walking through your home is what is most likely the deciding factor in whether to entertain an offer.  Some Realtors will suggest you have your home Professionally staged to improve your homes presentation.

Most upscale homes now use professional staging companies to fully stage the property.  These professional companies supply furniture and accessories to enable prospective clients to see the home in the best light possible and so they can envision themselves living there.  Some Home Staging companies advertise that many of their homes will actually sell for more than the listing price.

People who earn a good salary but fail to qualify for a typical mortgage are frequently turning to the Rent to Own option, Rent to Own has become very popular in the Innisfil Real Estate market. A rent to own transaction is when a landlord agrees to lease a home to a tenant and the tenant has an option to buy the home for a pre-negotiated price before the end of the lease. The primary components of a rent to own transaction are the rental term, the purchase price, the upfront deposit, and the monthly rent credit.

When deciding to start looking for a new home, the first step you should take is getting yourself pre-approved by your financial institution of choice. When seeking preapproval, talk to a few different mortgage lenders to find the best mortgage package that suits your needs. Two or three lenders is usually enough to give you a reasonable idea of the amount of money to can afford to spend on a new home.

Your local Innisfil Real Estate Agent can share his knowledge and expertise to allow you to get more money from the sale or to save you money when buying your next property.  Utilize their tools and expertise and help ensure your next real estate transaction is a pleasurable experience with the knowledge that you got the best price possible whether buying or selling.

Resale housing forecast revised

Resale housing forecast revised.   OTTAWA – July 30, 2010The Canadian Real Estate Association (CREA) revised its forecast downward for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations, and elevated its average price forecast.

Weaker than anticipated sales activity during the crucial spring home buying season in Canada’s four most active provincial markets prompted the revision. The decline is consistent with the exhaustion of pent-up demand from deferred purchases during the economic recession, and sales having been pulled forward into early 2010 due to changes in mortgage regulations.

National sales activity is forecast to reach 459,600 units in 2010, representing an annual decline of 1.2 per cent. Additional expected interest rate increases will keep homebuyers in a cautious mood, with sales activity expected to continue easing over the second half of the year as a result. In 2011, weaker economic growth and consumer spending will contribute to a decline in national sales activity of 7.3 per cent, with annual sales totaling 426,100 units.

“The Bank of Canada recognizes that inflation remains well contained and that economic growth will soften, so interest rates will rise slowly and at a measured pace, which will keep home financing within reach for many homebuyers,” said Georges Pahud, CREA President.  “While the jump in national sales activity earlier this year likely borrowed from the future, local markets trends are not necessarily in sync with national trends, so buyers and sellers would do well to consult with their local REALTOR® to best understand the outlook in their market.”

Average price trends have remained stable as new listings began to shrink in the last two months of the second quarter. Supply is expected to continue to adjust to lower demand, keeping the resale housing market balanced on a national basis and in most provinces.

The national average home price is forecast to rise 3.5 per cent in 2010 to $331,600, with increases in all provinces.

“Slowing first-time home buying activity means lower- and mid-priced homes are making a smaller contribution to the average price calculation, causing the average price to be skewed upward as a result,” said Gregory Klump, CREA Chief Economist. “It also means pricing momentum will lose steam due to rising competition among current homeowners looking to trade up.”

Although modest average price gains are forecast in 2011 in most provinces, the national average price is forecast to ease by 0.9 per cent to $328,600.

“The hangover from accelerated home purchases earlier this year is expected to persist over the rest of the year, but positive economic and job market trends bode well for home price stability,” said Klump. “Sales activity and new supply are both expected to continue to ease, so inventories are unlikely to pile up the way they did during the recession.

“Transitory factors that resulted in big swings in housing supply and demand may now be largely in the rearview mirror, so while resale housing activity is expected to ease, the pace of declines should begin to slow,” he added. “Homebuyers will no doubt welcome a more relaxed housing market in places where there was a shortage of supply earlier in the year.“

http://www.crea.ca/public/news_stats/pdfs/media_july30rpt_en.pdf

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