Barrie Homes for Sale ~ Barrie Ontario Real Estate

Buying/Selling Privately in Barrie

Jean Harding — Fri, 17 Jun 2011 16:22:23 +0000

I can absolutely see why someone would want to try to sell their home privately – it’s all about the money. What perplexes me is why a seller would think a buyer would choose to purchase privately, with no representation. You see, when a Realtor represents a buyer it costs the buyer nothing and the buyer get a multitude of services for FREE.

Now, let’s look at what the private seller typically does. They look at the MLS to see what other houses like theirs are listed for. Then (because it’s human nature) they determine that their house is superiour so up goes the asking price. But surely they’re going to discount it in some fashion because they’re saving on commission? Yes, it would be logical for a buyer to assume that the seller would share the commission savings but, this generally is not what we see when the house is listed.

It is also worth noting that the market value of a home is not determined until it is sold. So, using active listings as comparables to determine a list price is not the correct approach.

Here’s a sampling of the services provided by a Realtor for a buyer

find & notify buyer of new property listings
schedule showings
provide background data on listings (eg comparables-”solds”)
provide data on competition (ie active listings)
answer any number of questions the buyer will have
prepare all necessary legal documents
bring about a successful negotiation (ie best price/terms)
provide professional contacts if required (eg home inspectors, lawyers, mortgage specialists etc.)
ensure all documents are complete & forwarded to appropriate professionals (eg. lawyer, mortgage lender etc)
bring their experiences & expertise to every step of the buying process

Just some food for thought.

Jean

Getting Your Barrie Home Ready to Sell

Jean Harding — Wed, 13 Apr 2011 14:29:05 +0000

Every Tuesday morning we have an agent tour of new Barrie Homes for Sale. It’s a great opportunity not only to see the new Sutton Group-Incentive Realty listings but also to exchange information about the Barrie marketplace.

Yesterday one agent commented that 10 years about we might have seen 1, maybe 2, houses out of 10 that presented like model homes and today we see the exact reverse. We all concurred.

We’ve come to a time in Barrie real estate where selling a home requires much more than a good clean. Buyers have much higher expectations and will even pay a premium for a house that looks like a show home.

It’s perhaps a sad reality but, a reality nonetheless. There’s no question that it’s in the Barrie home seller’s best interest to not only declutter and clean thoroughly but to “stage” their home.

Free Books on Buying or Selling a House

Jean Harding — Fri, 08 Apr 2011 15:10:01 +0000

These books are great tools for breaking down the process step-by-step.

Books:

How to Sell Your Home

How to Buy Your Home

These books are available Free from the Ontario Real Estate Association. Simply call 416-445-9910 or 1-800-265-OREA to order one today.

Resale housing market in Canada shows further improvement

Jean Harding — Tue, 22 Feb 2011 17:55:57 +0000

Happily my first blog is all about good news. On Feb 15/11 the Canadian Real Estate Association (CREA) announced that national resale housing climbed higher in Jan/11. Seasonally adjusted activity rose 4.5% in Jan/11 compared to the previous month. This is the highest level since April 2010. Sales activity across the nation improved steadily since last summer and is now almost 25% above the low point reached in July/10.

CREA’s Chief Economist, Gregory Klump indicated it was anticipated that the recent announcement of mortgage changes that go into effect Mar 18/11** would result in increased sales in the 1st quarter of 2011 and it seems it has been the case in markets like Toronto.

New listings on Canadian MLS® Systems more than doubled in Jan/11 compared to the previous month. Resulting in a rise of 3.9% in seasonally adjusted new listings. The largest gain since Mar/10.

Prices have been stable and sales activity has been on the rise since last fall, so CREA expects potential sellers who shied away from the market last summer to begin listing their properties in early 2011. With sales activity and new supply rising in unison in Jan/11, the national resale housing market remains balanced.

** Mortgage Changes – On March 18/11 two changes will go into effect for Canadian mortgages and the third will take effect April 18/11

1st Amortization period will be reduced to 30 years (vs the current 35 yr period)
2nd Refinances will be capped at 85% LTV (vs the current 90%)
3rd Government insurance will no longer be provided on lines of credit secured on
Homes (includes Home Equity Lines of Credit or HELOCs).