Tag Archives: guelph real estate

Overpriced Homes – Sell Slower and For Less

Overpriced Homes-Sell Slower and For Less If there’s anything we can take away from the plethora of Bank Owned Foreclosuresis they certainly know how to price a home to move!

I maintain that you almost always shoot yourself in the foot by overpricing your home. Your home will almost always sale at or above market value by pricing at or below market value.House Price Thumbs Down

So why is that? Well think back at when YOU were buying a home. Remember when a “great deal” came on the market and everybody and their agents were “swarming” to the open house? You placed your offer only to find out their were 10 other offers and they were going above the asking price? This “bargain price” created an auction affect and got people excited. THAT is how banks are pricing their homes andif you want your home to move quickly and for the most amount of money, this is a winning strategy.

So why don’t sellers do it? I think it’s because there’s a little voice inside of our head (and pocketbook) that says “what if”.

“What if”- I can get $50K over market value. (even if someone were excited enough about your home to pay $50K over appraised value, their lender won’t loan the money if the value isn’t there. No loan, no buyer)

“What if”– I don’t get multiple offers and I only get one offer (May be still overpriced!)

Often fear (and greed) hold us back from making smart choices! Don’t feel bad though, even Real Estate Agents are guilty of senselessly overpricing their homes. Somehow when it’s our turn to sell all of our “market knowledge” becomes goo and leaks out of our ears! It’s like the hairdresser with bad hair!

The bottom line is, almost always, an Over Priced House will sit on the market longer and sell for less than it should have had it been priced strategically from the beginning.

Copyright © 2010 By Stephen Munson,Munson RealtyPasadena|Overpriced Homes-Sell Slower and For Less*overpriced homes,overpriced house

Another New Listing

Ok, so I haven’t been blogging too much about our new listings but since I have been on the internet band wagon, I thought I should.  So you will see a few posts about our guelph real estate listings.  The first is the most recent: 45 Moss place.

45 Moss Place is a fantastic opportunity to own a well kept investment property or starter home.  The current owner is not a renter and has put a lot of love into the upkeep and maintenance of this property.  This home is ideal for a young couple looking to start out and not break the bank on a home. Townhouses are selling for more than this plus additional condo fees, making this detached home a bargain.

New flooring has been put in all through the home, starting with the ceramic entrance way.  The hardwood laminate flows nicely into the living room area, and transitions back into a large tiled ceramic in the kitchen.  Upstairs you will find new neutral coloured carpet.

The backyard is large and the green grass is very desirable for your family activities.  Being completely fenced for your beloved pets and young children.  The house is also located on the curve of the street which makes the yard a pie shape for more room.

In the basement you will find a finished rec room that is also suitable for a 4th bedroom.  The rough in for the extra bath is conveniently located for a quick and painless new bath room installation.  The laundry area is large and exceptionally clean.

For more information visit: guelph-real-estate.ca

What Are the Benefits of Hiring a Real Estate Agent

The home buying and selling process can be an intense and difficult task. With so much information available online, many people think they can take on the task on their own without using the services of a real estate agent. The real estate market can be complicated if one does not have the knowledge and experience. The benefits of using the services of a real estate agent can make the process much simpler and less stressful.

The following outlines the many benefits of hiring a real estate agent:

1. Knowledge and Know-How: Purchasing a home is more than just submitting an offer. An agent will have such knowledge as the community, neighborhoods, schools, road system, hospitals, shopping and supermarket locations …etc. They can also help you find a home that you can afford as well as offer advice on mortgages. They are knowledgeable about all that is involved when buying a home, such as the documentation required and the steps involved with the purchase. A real estate agent takes you through the process and minimizes the stress.

2. Time-Saver: If you are selling a home, an agent can take over the tasks such as arranging for a showing as well as actually showing the home. If you are buying a home, the agent will arrange for viewing homes that will suit your needs instead of spending time looking at homes that do not serve your purpose.

3. Buying and Selling Price Assistance: Agents will know if a home that is being sold is worth the money. They will look at such aspects as home demand and supply, current market conditions, the location, the type of house, and if the details of the house such as the number of bedrooms, are appropriate for the asking price. They can also negotiate the price which could save you thousands of dollars. Agents have access to such information as the value of other homes in the area, average sale prices, and the number of days the home has been on the market.

4. Essential Contacts: Agents may be able to recommend such professionals as a home inspector, Mortgage Company, a good attorney – etc. They have great contacts with those in the home sales market. They know reputations and can provide a number of choices so one can choose wisely.

5. Manage Documentation: The amount of paperwork involved with selling and buying a home can seem complicated and overwhelming to the novice. The Purchase papers can often be more than 10 pages. There are other papers such as such as federal and state disclosure forms. A real estate agent has the knowledge about all documentation involved with the sale process so that everything will be written up properly and legally.

6. Support: Because of the complex nature of the real estate process, you never know what questions you will have, but one thing for sure is that you will have questions. An agent will answer every question from start to closing.

Real estate agents play a crucial rule in the home sale/purchase process. By hiring a real estate agent, one will save time, money, and reduce a great deal of stress. For any home buy/selling venture, a qualified real estate agent is a must-have.

Article Source: http://EzineArticles.com

Guelph Housing – Winter Renos

Winter has come with a vengeance; make sure to take advantage of the home renovation tax credit while you still can! The home renovation tax credit will provide a one-year 15% income tax credit on eligible home renovation expenses for work done or goods bought between Jan. 27, 2009 and Feb. 1, 2010. The credit may be claimed on eligible expenses greater than $1,000, but not greater than $10,000 for a total credit of up to $1,350.

Before tackling a renovation project, advanced planning is a must and the key to success. Make sure that you understand the process and the people that will be involved in the project. A question to ask yourself is …” is your renovation practical?” Will your investment in the renovation costs make sense through savings in heating or will the investment increase the value of your home for future resale? How will you pay for your renovation project?

Another important thing to consider is what renovation project will give you the “biggest bang for your buck?” Here are a few estimated payback ranges for various renos; kitchen, 75-100%; bathroom, 75-100%; interior painting, 50-100%; exterior painting, 50-100%; main floor family room, 50-75%; and finished basement, 50-75%.