There are some big changes happening this year regarding government tax and grants for home-buyers.
HST is finished April 1, 2013. What does this mean for buying a home? After HST has gone there will be the regular GST (5%) and a NEW Transitional Tax (2%) from April 1, 2013 to March 31, 2015.
Click Here for the Full Ministry of Finance Tax Package
Click Here for info from The B.C Real Estate Association.
The $10,000 New Home-buyers Grant also ceases April 1, 2013. Those of you who were hoping to apply for this grant must step up the search for your perfect home and apply as early as possible.
Click Here for Eligibility and more info on the $10,000 New Homebuyers Grant
Have you had your property on the Market for a while with no serious interest? Here are some tips from James to start the New Year off fresh and ready!
Re List – Re listing your property with a new MLS # will give your home a fresh start, shuffle photos (or take new ones), add a virtual tour, change up the description; all of these things can give your listing a new look to buyers just starting on the hunt for their new home.
Re Assess – Walk around you property with an objective eye and think about what you would like to see in a property ready for the Market. Do the carpets need to be steam cleaned or replaced? Is the paint scuffed, chipped, or dull? Is there a lot of clutter (family pictures, knick-knacks, furniture, books,etc…) ? Is your furniture making it hard to navigate or easily walk through your home? The list below will allow you to check off what might need to be updated to get your property sold quick!
– Update Flooring: whether you clean your carpets or install hardwood, flooring is often the deal breaker at showings.
– Freshen up the Paint: if your paint is dirty or dull put a fresh coat on in a bright new color to make your home inviting.
De-clutter – Often great properties are over looked because clients can’t see past the stack of magazines or the 10 counter appliances. Think like home style magazines: Less is More. The less distractions from individual items will allow buyers to see the property as a whole and they will more easily imagine themselves living there. Check out our blog on getting rid of unwanted items.
Showings – Bright, Welcoming, and Clean. These are 3 things to really live by when prepping your home for a showing.
– Open all the blinds
– Turn on ALL the lights (make sure they all are working and have light bulbs
– Fresh scent (if you notice the salmon you had for dinner last night is still lingering in the air, give the rooms a quick mist with air freshener. Click here for some natural quick air freshening ideas.
– Relaxing decor
– Put all small personal items ‘out of sight’ in a drawer or cupboard
– Smile! Being welcoming and friendly is the first impression the buyer will get of your property so make it a positive one!
Check out our previous blog ‘Top Tips to Sell Your Home’ for great links to professional paint advice from Benjamin Moore, Cleaning Tips, Home Staging ideas, and more!
The Market noticeably slowed in the Fall of 2012, and Sales were down 33% compared to Nov & Dec of 2011. The 2012 year in all decreased in Sales by 22.7%.
December 2012 Market Stats from the Real Estate Board of Greater Vancouver
Greater Vancouver residential property sale and listing activity below 10-year averages in November
Over the past six months, the Greater Vancouver housing market has seen a reduction in the number of homes listed for sale, a gradual moderation in home prices and a decrease in property sales compared to historical averages.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 1,686 on the region’s Multiple Listing Service® (MLS®) in November, a 28.6 per cent decline compared to the 2,360 sales in November 2011 and a 12.7 per cent decline compared to the 1,931 home sales in October 2012.
November sales were 30.3 per cent below the 10-year November sales average of 2,420…
Click Here for Full Stats Package
Click Here for Full Article
So far September is following the Summer as a Buyers Market which means Sellers must be aware of current prices and have a great realtor who can price your home so it doesn’t sit on the Market for too long but you still get a great sale. Taking time to prepare your home for a sale can be the perfect step towards selling quickly.
Whether you are just updating paint and the overall style or you are upgrading appliances, carpet, and more sometimes all it takes is that little extra effort. For some great ideas on getting your home ‘Sale Ready’ Click Here!
If you have any questions about the current Market and getting your home Sale Ready give James a call!
New Westminster: 140 New Listings (33 Homes, 21 Townhomes, 73 Condos)
Avg Sale to List ratio: 1 to 5
Burnaby: 47 New Listings (9 Homes, 3 Townhomes, 33 Condos)
Avg Sale to List ratio: 1 to 7
Real Estate Board of Greater Vancouver Sept 2012 Update