How to Price Your Calgary Home Correctly for a Quick Sale

Calgary Alberta Home Evaluations: Get Yours for Free

If you've been away from the real estate market since buying your home, you might wonder about the current dynamics of the Calgary property scene. In today's fast-paced Calgary market, understanding the mindset of Willing Qualified Home Buyers is crucial for sellers.

Understanding Today's Home Buyer

• They have plenty of options available.
• They spend a limited amount of time in the market.
• They desire a top-quality home at a competitive price.
• They avoid properties priced above market value.
• They're more interested in the property than in realtor advertisements.

Indeed, these buyers are astute shoppers. They meticulously compare offerings to determine the best value. In a market like Calgary's, with a plethora of active listings, only those properties priced competitively stand out.

Steps Taken by Savvy Calgary Home Buyers:

1. Searching for homes on MLS® by Price.
2. Scanning property images.
3. Digging into the details and history of shortlisted properties.
4. Scheduling visits with the aim of zeroing in on the perfect home.

The Role of Pricing in Home Selling

The cornerstone of a successful home sale is accurate pricing. If a property lingers on the market, it often signals a misalignment between its price and perceived value. Just like two identical coins could be priced differently — one higher than its actual value and one lower — it's evident which one will sell first. The principle is no different in real estate: offer genuine value and achieve a swift sale; overprice and risk stagnation.

Contact for Authentic Calgary Home Evaluations

Shun the tactic of "Buying A Listing," where agents overestimate your home's worth, only to seek price reductions later. I'm dedicated to offering Free Honest Calgary Alberta Home Evaluations. While it takes time to provide an accurate estimate of your property's current market value, it's a service I proudly offer. Reach out for an unbiased appraisal of your Calgary home's market value at 403 831 0842.

Navigating Home Sales: Addressing Neighbourly Concerns

We invest time, energy, and emotion into our homes, transforming them into sanctuaries that reflect our personalities and values. Yet, the surrounding environment, particularly the state of neighbouring properties, can influence the perceived value of our homes when it's time to sell. If you're planning to list your home and are concerned that your neighbour's property might be hindering your home's market value, here's a strategy to address this delicately and effectively.

Open a Line of Communication

Begin with understanding and empathy. Your neighbours might be facing constraints you're unaware of. They may want to maintain their property but lack the necessary resources or expertise. A friendly chat can open doors to collaborative solutions. Offer assistance where feasible, be it lending tools or spending a weekend afternoon working together on lawn maintenance.

Leverage Your Homeowners Association (HOA)

For communities governed by an HOA, there are often guidelines that homeowners must adhere to, ensuring a consistent and aesthetically pleasing environment. If you believe your neighbour's property may not meet these standards, a discreet conversation with your HOA can help ensure that all community members are upholding the agreed-upon appearance standards without causing direct confrontation.

Engage Housing Code Enforcement

Even in the absence of an HOA, local housing codes exist to maintain the safety, health, and appeal of communities. If serious issues arise, such as excessive debris or potentially hazardous conditions, you can consult with housing code enforcement. They can provide clarity on any violations and guide you on the appropriate course of action.

Plan Ahead for Your Next Home

Selling a home and transitioning to a new space can be a transformative journey, sometimes challenging yet ultimately rewarding. As you venture into seeking your next abode, I'm here to offer insights and guide you. Together, we can identify potential red flags in potential neighbourhoods, ensuring you find not just a house, but a harmonious community to call home.

Finding Your Next Fixer-Upper in Calgary: A Simplified Guide

Looking for a perfect property to fix and flip in Calgary? The secret lies in having an efficient Property Finding System. This system will effortlessly bring suitable properties to your attention, including foreclosed and bank-owned options in Calgary that align with your specifications.

Benefits of a Dedicated Property Finding System:

1. Automation: Instead of scouring listings daily, let the system do the heavy lifting. As new properties get listed, you'll receive email notifications if they match your criteria.
2. Market Knowledge: By regularly receiving these notifications, you'll naturally gain a deeper understanding of the market. Over time, you'll recognize pricing trends for properties that interest you.
3. Competitive Edge: Your dedicated system ensures you're alerted to prime listings before they become public on many websites, giving you a significant advantage over those relying solely on public platforms.
4. Confidence in Pricing: By knowing the going rates for various properties, you'll be better equipped to determine both your purchase price and the potential selling price, maximizing your investment returns.

The Current Calgary Market Scenario:

The reality is, that in today's bustling market, prime deals get snapped up rapidly. With more buyers than sellers, competition is fierce. If you're only relying on public listings, chances are, you're missing out.

How to Get Started:

The first step to staying ahead in this race is to get in touch with us. We'll integrate your specific 'fix and flip' criteria into our system, ensuring you're the first to know when a property fitting your requirements gets listed. This way, you don't chase deals; deals come to you. In fact, you'll often be in the know before many professionals in the field!

Interested in flipping homes in Calgary, Alberta, Canada? Reach out for a free consultation. Let's make your property investment journey smooth and profitable.

Paying Off Your Calgary Mortgage Faster

One of the highest financial priorities of Canadian homeowners is to pay off their mortgage as quickly as possible. Paying down extra principal in the early years can shorten the life of your mortgage and dramatically lower the interest you will pay over the long haul. “Pay-Off Tips” below describes some of the most effective methods that you can apply based on your situation.

1. Mortgage payments made with After-Tax Cash

More Canadians are becoming aware that since mortgage interest is not tax-deductible in Canada you are making mortgage payments of both principal and interest with money that you have already paid tax on after-tax dollars”. This makes it even more important to eliminate the drainage of disposable income as soon as possible!

2. Prepayments give a great return on investment

If you pay an average of 6.5% in mortgage interest, for each $1,000 by which you reduce your mortgage principal, you will save $65 in after-tax cash every year. If you are paying taxes at a marginal rate of 40%, you must earn $108.33 each year to pay the interest on every $1,000 of principal outstanding...a heavy burden, but also a tremendous implied benefit to reducing this balance. In fact, the example shows that the “return on investment” for making prepayments on your mortgage is 10.833% before tax and 6.5% after tax or better than most fixed-return investments (bonds, GIC’s etc.).

3. Increase your payment annually to the most you can afford

The upside is that most lenders will allow you to reduce it again to the previous level if it turns out to be too great a burden or your circumstances change.

4. Utilize your RRSP-driven tax rebate as a mortgage prepayment method

Even if you can only prepay annually, make sure these funds are set aside for that purpose. Many Canadians will borrow (at prime) to buy an RRSP to ensure the maximum rebate. When applied to the mortgage principal, this refund is a “gift that keeps on giving”. Combining the refund with the tax-free interest earned on the RRSP over the subsequent years will quickly outpace the short-term interest costs of the RRSP loan.

5. Increase the frequency of your payments

Make accelerated bi-weekly payments to get a “free” principal reduction equivalent to one full mortgage payment every year — painlessly. Unless you are paid weekly it makes little sense to make weekly payments. All you would be doing is making a smaller payment and deferring the difference for a week.

6. Make use of double-up privileges wherever possible

Tell yourself that you will “skip a payment” whenever necessary... then skip only when you absolutely must.

7. Round your payments up

By adding even, a nominal amount of say, $10 per payment, the amount of interest you are saving will be unbelievable, and the extra money is relatively painless to part with.

8. Pay a lump sum whenever possible

By decreasing the principal of the mortgage, your payments will not be allocated as much to interest in the future, thereby accelerating your freedom to a mortgage-free life.

9. Keep payments the same when mortgage rates have fallen

If the payment amount has not been a problem so far, then keep it the same thus paying down the principal faster.

10. Raise payments in line with increased income on an after-tax basis

If your income increases, do not keep your mortgage payments the same. Although disposable income may be fun to spend on unnecessary luxuries in the short-term, the long-term benefits of being mortgage-free faster and saving those interest payments will far outweigh the short-term curtailing — just pretend that your income did not increase and maintain your usual lifestyle.

Do not waste your hard-earned money on interest! These methods have allowed many people to shorten their mortgage life by years in a short period and enjoy a greater lifestyle for a longer period.

Obtaining A Mortgage After Bankruptcy Isn’t As Problematic As You Think

Bankruptcy is on the rise in Calgary, with 8.5% more bankruptcies filed during the first quarter of 2019 compared to the same period of 2018. The Edmonton Journal reports that locals are finding it difficult to make ends meet and, as a result, are losing their personal possessions, including their cars and homes. But even if you do lose your home following your bankruptcy filing, it doesn’t mean that you can’t take out a mortgage and become a Calgary homeowner again in the future.

Get discharged 

In order to qualify for a mortgage so that you can purchase a home in Calgary, your bankruptcy will need to be discharged. This means that you will have met the terms of the discharge which typically include paying back some of what you owe. The Canadian government stipulates that if you have $200 surplus income per month, then 50% must be paid to your creditors. A bankruptcy of this type will typically last 21 months before the discharge is issued. By following the rules of your bankruptcy, you’ll show that you are responsible with your cash and want to pay back what you owe. At this point, avoid debt management companies as they have a high failure rate and can draw out your bankruptcy longer, thus preventing you from getting back on the property ladder.

Rebuild your credit 

Once you’ve been discharged for two years, you are eligible for a mortgage on your dream Calgary home. To ensure that it is a success, you’ll need to boost your credit. The longer you spend building your credit up, the better it will be when the time comes to apply for a home loan. Credit cards are a great way to improve your credit, but you must ensure that you are sensible with your lending and pay back the full amount every month, otherwise, you risk damaging your credit further. Ideally, two years’ worth of credit is required to get a competitive rate on your mortgage, but there’s no need to worry if you don’t quite make the mark.

Start saving 

As a general rule, you’ll need at least a 5% down payment on any property in Calgary that you wish to buy. Some mortgage companies will also consider you if you have a larger down payment but haven’t yet been discharged for two years or can’t show two years of credit. Either way, you’ll need to save hard if you want to put your bankruptcy behind you for good. One way to do this is to open a bank account which doesn’t have any fees and has a decent interest rate. Setting up a standing order so that a sizeable sum of cash regularly goes into the account is recommended, too.

Shopping for your new Calgary home 

When the time comes to shop for a new home, you need to carefully consider which type of property you require. Always ensure that you will be able to comfortably pay the mortgage repayments, household running costs, and additional expenses on the property that you’re thinking of buying. This may mean you opt for a property smaller than what you previously owned. A realtor which has a variety of properties on its books can offer a surge of advice and will happily discuss your requirements and show you multiple properties to help you find your perfect home. 

Many people think that when they’ve been declared bankrupt they can’t become a homeowner again. Thankfully, this belief is incorrect and it’s possible to obtain a mortgage and get the keys to a Calgary property within just a few years of bankruptcy occurring.

Who Pays The Real Estate Commission & Fees?

Follow the money and you get your answer. Lots of Realtors tell you the Seller pays the fees. Which is kind of true. But where do the sellers get the money to pay the fees and commissions? From the Buyer!

That's correct the Buyer pays 100% of all fees and commissions to the home seller as part of the total purchase price of the home.

Once the seller's lawyer has the money, the lawyer divides it up between the seller, the lawyer and the real estate brokerages.

In Calgary, it's very common to see listing agents charge home sellers 7% on the first $100,000 and 3% on the balance of the sale price. Then the listing agent offers 50% of that to a Buyers agent that brings a buyer into the deal.

Here's an example on a $650,000 sale of a home. $23,500 plus GST would come off the top. Leaving the home seller with $626,500.

The Real Estate Commission and Fees would be split between the Buyer's Realtor and the Seller's Realtor - $11,750ea.

The sellers Realtor would deduct all the marketing expenses and broker fees from their $11,750 and pay tax on whatever is left.

The buyers Realtor has no marketing expenses but has broker fees and taxes to pay on their $11,750.

Do You Need a Realtor To Buy or Sell A Home in Calgary? I say no, not really. All the information you need is on the internet.

What's not on the internet for you is My Real Estate & Business Experience!

Everything about everything is now on the internet. What cannot be put on the internet is the hands-on actual experience a person gets through years of doing. Doing and Learning. Learning and Doing it Better and Better.

The value I bring is My Experience. Whenever I have a gut feeling something is not quite right, I'm rarely wrong and save my clients from an unpleasant situations.

Calgary Realtors® must use the Residential Measurement Standard (RMS) when measuring residential properties. This measurement standard helps consumers easily and accurately compare different types of residential properties. This guide will help consumers understand the RMS, and how Alberta real estate professionals use it. Your real estate professional has a responsibility to ensure you understand the RMS and its implications and is required to discuss it with you. This discussion will help you make informed decisions about the size and suitability of properties.

Some Key Definitions

Grade: Grade is the level of the ground around the exterior of a residence. The grade can be horizontal, sloped, or a combination of both. In Alberta, most residential properties contain above-grade and below-grade areas.

Levels: Levels are areas of the residence that are in the same horizontal plane. A level must meet the minimum ceiling height requirement [2.13 metres (7 feet)] to be included in the RMS calculation.

Above Grade Levels: Above grade levels are the levels of a residence that are entirely above grade. The RMS area of a residence is the sum of its above-grade floor levels.

Below Grade Levels: Below grade levels are the floor levels of a residence that are partly or fully below grade. If any portion of the level is below grade, the entire level is below grade. Below-grade spaces include lower levels and basements. Below-grade levels are not included in the RMS area. Examples of residential styles with lower levels include raised bungalows, bi-levels, split levels, and properties with walkout or walk-up basements.

The RMS contains nine principles that real estate professionals must follow when measuring the size of a residential property:

1. Real estate professionals must use the RMS.

When a seller wants to communicate the size of their residence to potential buyers, or a buyer wants to measure a residence they’re considering, their real estate professional must communicate the RMS area. Real estate professionals are allowed to hire someone to calculate the RMS area of a property, such as property measurement companies or real estate appraisers. The real estate professional must ensure the person is able to competently measure the property using the RMS. If it is not possible to measure a residence, for example, the residence is not yet built or access isn’t possible because of a difficult tenant or a difficult foreclosure, your real estate professional may deviate from measuring the property using the RMS as long as:

• The measurements represented do not imply they are in accordance with the RMS

• They include an explanation as to why the property could not be measured using the RMS

• They must apply the RMS to blueprints

• They must disclose the measurement methodology they used (i.e. area size calculated by applying the RMS to the builder’s blueprints)

2. Identify if the measurement system is metric or imperial, and apply it consistently. Measurements must be calculated to within 2% of the RMS size.

Real estate professionals must indicate what measurement system they used to take property measurements (metric or imperial), and they must take all measurements for a particular property using the same system. The real estate professional must talk to about which measurement system is appropriate. In a lot of cases, a key factor in deciding which measurement system to use is which measurement system the real estate professional’s listing service or property database uses.
While the RMS provides a 2% tolerance, real estate professionals must attempt to measure the property accurately.

see the guide below for the complete RMS Guide

Unleashing Smart Home Energy Savings Without Compromising Comfort

We all love our comfortable sanctuaries. But what if there was a way to enjoy that snug ambiance while saving on your energy bill? Tinkering with the thermostat can help, but we're diving deeper. Discover an array of techniques that not only contribute to a greener environment but keep your pockets happy without compromising on comfort.

Discover Hidden Energy Guzzlers

• Battle the Drafts: Drafts sneak in, making your heating and cooling systems work overtime. Use a lit incense stick and watch its smoke. If it wavers near doors and windows, it's drafty there. Once located, use weather stripping or door sweeps to seal them. Not only will this tip reduce your bill, but it’ll elevate your home's cozy factor.
• Inspect the Attic: Think of insulation as your home's protective blanket. A spotty blanket won’t keep you warm, neither will patchy insulation. Regularly inspect for inconsistencies to ensure uniform coverage and an energy-efficient home.
• Embrace Technology: Upgrade to a smart thermostat that learns your schedule and adjusts accordingly. Imagine your home anticipating your arrival and adjusting to your ideal temperature just in time.
• Zone Your Home: Got rooms you rarely use? Close the vents in those spaces to redirect heating or cooling to areas you frequent. This targeted approach can dramatically drop your energy expenses.
• Solar Magic: The sun's a powerful, free energy source. During colder months, open curtains to invite warm sunlight in. In scorching summers, use light-reflecting shades to block heat, making your home naturally comfortable.

See the Transformation

Take the challenge: Implement these strategies and monitor your bills for the next couple of months. You'll be amazed at how these simple shifts can revolutionize your energy savings without trading off comfort. Because, after all, there's no place like a smart, efficient home!

Enhance Your Home's First Impression: Quick Curb Appeal Boosters

The first impression your property casts to potential buyers, known as curb appeal, holds immense power. A captivating exterior can magnetize buyers, making them eager to see what's inside, while a lackluster facade might have them speeding past. So, what can you do to ensure your home invites and captivates?

Clean and Refresh the Entrance

The gateway to your home, the main entryway, speaks volumes. Start by giving your front door a thorough wash. If it's aged or faded, consider a fresh coat of paint in a contemporary hue. Don't forget to sweep or power wash the front steps and walkway. This simple act can transform the overall ambiance of your home, making it more welcoming.

Shine Those Windows

Gleaming windows can instantly elevate the facade of your home. Clean your front windows to let in more light and brighten the home's exterior. Today, there are user-friendly washing products that connect directly to your garden hose, eliminating the need for ladders or strenuous scrubbing. Your local home improvement store can suggest effective options.

Tidy Up the Greenery

Lush, well-maintained greenery can be a home's crown jewel. Trim your hedges, shrubs, and bushes to give them a neat appearance. A pro tip for even trimming: Use a wide board or a cardboard piece as a guide. And of course, don’t forget to mow the lawn, removing any unwanted weeds or debris.

Assess and Adjust

Stand across the street and assess your home objectively. Are there any eyesores or potential distractions, like exposed garbage bins? If so, find them a new spot. Small changes can have a monumental impact on the overall appeal of your property.

Optimize Parking During Viewings

A seemingly minor but effective tip: Whenever there's a scheduled viewing, clear your driveway of vehicles. An empty driveway not only allows potential buyers to envision themselves residing there but also provides them with an easily accessible parking spot.

Remember, curb appeal is akin to a book cover. Make sure yours entices viewers to discover the story within.

Mastering the Home Hunt in the Midst of Chaos

Between work pressures, the challenges of home-schooling, and daily tasks like groceries and laundry, life's pace can feel dizzying. Amidst this whirlwind, how can you even think about finding your dream home? Fear not! With strategic steps, you can streamline the process and find your haven without missing a beat in your hectic schedule.

Streamlined Home-Buying for the Super Busy:

Here's a tailored approach for those who are time-pressed:

• Clarify Your Vision: Start with a crystal-clear vision of your desired home. Instead of a generic "house", think in terms of specifics like "a detached two-story with a spacious backyard" or "a condo with a sunset view". Factor in essential criteria such as the number of bedrooms, bathrooms, and any special amenities you desire.
• Zone in on Your Ideal Locations: Instead of being open to any area, concentrate on specific neighborhoods that align with your lifestyle and daily commute. This precision saves you from unnecessary detours to listings that aren’t geographically desirable.
• Financial Readiness: A pre-approved mortgage can be a game-changer. Not only does it give you a clear budget, but it also strengthens your bargaining power and accelerates the purchase process.
• Efficient Home Viewing: Prioritize home viewings amidst your busy week. Utilize online resources like photographs and virtual tours to pre-screen properties. Allocate dedicated slots in your schedule, perhaps a weekend morning or weekday evenings, ensuring you remain focused during these tours.
• Be Comprehensive in Your Exploration: Make the most of each viewing. Carry a notebook to jot down impressions, ask in-depth questions, and explore the home and its surroundings thoroughly. Aim to gather enough insights to avoid the need for multiple visits.

The secret weapon in your home-hunting quest, especially when time is of the essence? A seasoned real estate agent. Their market insights, property shortlists, and negotiation skills can slice through potential hurdles, making your search efficient and effective.

Ready to embark on the journey to your next dream abode? Let's chat and make your vision a reality.

Boosting Your Home's First Impression: Elevate Your Curb Appeal

It's often said that first impressions last, and this is especially true when it comes to real estate. As prospective buyers approach your home, their initial view—the curb appeal—sets the tone for the entire visit. A captivating exterior can captivate them, but a lacklustre one might overshadow even the most impressive interiors.

Here are six cost-effective ways to enhance your home's curb appeal and create an inviting first impression:

1. Refresh Your Driveway: Sealcoating your driveway not only protects it from the elements but also gives it a rejuvenated, almost-new appearance. It's an affordable alternative to repaving, instantly boosting the overall look of your home.
2. Crystal Clear Windows: Clean, gleaming windows can dramatically elevate your home's appearance. Modern window-cleaning solutions, available at many home improvement stores, can attach to your hose and make the task more manageable.
3. Landscape Touch-Up: Think of it as grooming for your yard. Regularly trimming hedges, and shrubs, and maintaining flower beds can drastically change how your home is perceived. Add some blooming plants for a dash of colour and vitality.
4. Revitalize Your Front Door: Your front door is more than just an entrance—it's a focal point. A vibrant coat of paint can breathe new life into it, ensuring it captures attention for all the right reasons.
5. Upgrade Your Garage Door: Given its size and visibility, your garage door plays a pivotal role in your home's curb appeal. A fresh coat of paint or even some minor upgrades can significantly improve its look, positively influencing the entire home's facade.
6. Declutter the Exterior: View your home from a passerby's perspective. Remove any items that detract from its charm, such as visible garbage bins or unused garden tools. A tidy exterior suggests a well-maintained home.

In the competitive world of home sales, it's vital to put your best foot forward, starting right from the curb. With these tips in hand, you can ensure that potential buyers are drawn into the beauty of your home, rather than deterred by its exterior. Let your home tell a compelling story, starting from the very first glance.