Here are some more great ways to control your finances and keep your cash:
Join a buying club that offers deep discounts. Buy what you need, and have it on hand, saving late night trips to the expensive quick stop shops. How did they ever get by on those wagon trains to California, without a convenience store?
Remember that the Revenue Canada allows you to take a deduction for donations of clothing, furniture, and miscellaneous items. Whatever they would be worth at a thrift shop is a guide. Simply obtain a receipt, and report it on your taxes. You’ll empty the house of cast off items, get more room in your closet, and help someone less fortunate, while lowering your taxes!
Being fit may require joining a health club, but if you joined and don’t go, it’s time to decide, go or quit. As a half step, some clubs offer off peak or alternate day plans that can help cut the fat out of your budget.
Showing posts with label market. Show all posts
Showing posts with label market. Show all posts
Thursday, July 9, 2009
Tuesday, July 7, 2009
How Useful Are Open HousesÉ
Across the country, every Sunday afternoon, open houses are being held. The question is why? Statistics show that less than 3% of buyers who bought property in the last three years bought the property because they saw it at an open house.
Then why are so many open houses still being held? One reason is that sellers still think that agents should hold an open house. Most sellers see open houses as a way to find a buyer for their home. The truth is, open houses do find buyers, but most of the time not for the homeowner that is holding the open house. Buyers meet an agent, and over time, the better agents match the buyers particular needs to exactly the right home.
When a buyer comes through an open house, he may have simply dropped in to take a look without knowing anything about the homes price range or features. Most of the time the house does not fulfill the particular needs of the buyer.
It would be like going to a car dealer and deciding to buy the first car you see, without knowing it’s price, features, or financing options. What’s the chance that you would qualify or that the car would suit your needs? About the same chance that your home would perfectly suit a “drop-in” buyer.
So what’s the other reason open houses are still being held? Open houses are great ways for newer agents to get their feet wet. By holding an open house they meet buyers who might be interested in another property on the market. So don’t be surprised if a more experienced agent refuses to hold an open house on your property. Seasoned agents know what types of advertising and marketing work best, and won’t use your home as an avenue for finding buyers for other agent’s listings.
Then why are so many open houses still being held? One reason is that sellers still think that agents should hold an open house. Most sellers see open houses as a way to find a buyer for their home. The truth is, open houses do find buyers, but most of the time not for the homeowner that is holding the open house. Buyers meet an agent, and over time, the better agents match the buyers particular needs to exactly the right home.
When a buyer comes through an open house, he may have simply dropped in to take a look without knowing anything about the homes price range or features. Most of the time the house does not fulfill the particular needs of the buyer.
It would be like going to a car dealer and deciding to buy the first car you see, without knowing it’s price, features, or financing options. What’s the chance that you would qualify or that the car would suit your needs? About the same chance that your home would perfectly suit a “drop-in” buyer.
So what’s the other reason open houses are still being held? Open houses are great ways for newer agents to get their feet wet. By holding an open house they meet buyers who might be interested in another property on the market. So don’t be surprised if a more experienced agent refuses to hold an open house on your property. Seasoned agents know what types of advertising and marketing work best, and won’t use your home as an avenue for finding buyers for other agent’s listings.
Thursday, July 2, 2009
Financial Checkup
Look at Money Magazine or other financial publications to get their list of low cost credit cards. Some lower fee and lower interest rate alternatives are available. They’ll help you cut your costs of credit until you can pay off those cards. Some cards carry interest rates in excess of 21%, and require a minimum payment so low that it could take more than 10 years to repay the balance in full. Begin to double your monthly payments on the credit cards with the highest balances.
Open an RRSP or other retirement account to allow you to build your retirement nest egg. If you already have an account, analyze your investments to be sure you’re in the right place for your risk preference, and your goals. An annual checkup is in order.
If only someone had given us a thousand dollars at birth, and we had kept it invested at 12% (high) for 65 years (long time), we could retire a millionaire. It’s true, and it’s not too late. Pick some of these ideas and take action now!
Open an RRSP or other retirement account to allow you to build your retirement nest egg. If you already have an account, analyze your investments to be sure you’re in the right place for your risk preference, and your goals. An annual checkup is in order.
If only someone had given us a thousand dollars at birth, and we had kept it invested at 12% (high) for 65 years (long time), we could retire a millionaire. It’s true, and it’s not too late. Pick some of these ideas and take action now!
Wednesday, July 1, 2009
Sell Your Home or Become a Landlord
Renting your home out may seem like a great alternative to selling at a lower price than expected, but make sure you consider the financial implications.
If the main idea in renting the house is to move now and sell later, be sure to factor in the costs which may occur when reconditioning the rental home for sale as a residence. Chances are the aggravation of converting your home to a rental will exceed any contribution to costs or profits.
Most importantly, keep in mind that being a landlord can be difficult. Tenants will demand that repairs and home maintenance be kept up with in a timely manner. Expenses can be quite substantial, so be prepared with funds to cover them. Feel free to ask me for more information on sales or rental, anytime!
If the main idea in renting the house is to move now and sell later, be sure to factor in the costs which may occur when reconditioning the rental home for sale as a residence. Chances are the aggravation of converting your home to a rental will exceed any contribution to costs or profits.
Most importantly, keep in mind that being a landlord can be difficult. Tenants will demand that repairs and home maintenance be kept up with in a timely manner. Expenses can be quite substantial, so be prepared with funds to cover them. Feel free to ask me for more information on sales or rental, anytime!
Thursday, June 25, 2009
Controling Your Finances with a Plan
For most of us the first step to a bright future is to get control of our finances, and to use a plan to achieve our key objectives. As we get busier, and more transactions are electronic, by mail, by phone, or by ATM, we can lose track of where we are on the financial road map.
This list of suggested activities can help you get back in the seat on the way to your financial destination.
Like a diet requires you keep track of what you eat, in order to cut the fat, you must also track your spending for a month to see where it all goes. This will highlight areas to be targeted for savings.
Create a plan to save 10% off the top of your earnings. “Pay yourself first,” and “part of all I earn is mine to keep,” are key phrases to remind you that you’re entitled to save now for your future.
Put together all your insurance statements and policies and offer them to one or two reputable agents in order to either update coverage, or reduce your costs. Many of us carry too much insurance, in some areas, while we’re dangerously underinsured in others.
Driving a car that is getting older and less valuable, without adjusting your coverage could be an expensive mistake.
This list of suggested activities can help you get back in the seat on the way to your financial destination.
Like a diet requires you keep track of what you eat, in order to cut the fat, you must also track your spending for a month to see where it all goes. This will highlight areas to be targeted for savings.
Create a plan to save 10% off the top of your earnings. “Pay yourself first,” and “part of all I earn is mine to keep,” are key phrases to remind you that you’re entitled to save now for your future.
Put together all your insurance statements and policies and offer them to one or two reputable agents in order to either update coverage, or reduce your costs. Many of us carry too much insurance, in some areas, while we’re dangerously underinsured in others.
Driving a car that is getting older and less valuable, without adjusting your coverage could be an expensive mistake.
Tuesday, June 23, 2009
Top Fixes Recomended By Home Inspectors
Buyers today are more educated and demanding than they were in the past. It should not be surprising to a seller that a buyer would ask for a home inspection before signing a hefty purchase agreement. Therefore, it would be wise for homeowners to look at the areas where most home inspections fail. Start by fixing those areas up in advance, before you’re ready to place your house on the market.
The most frequently found problem area is water in the crawl space or basement. Poor drainage can result in water damage that will be more than apparent to an inspector. This can be an expensive problem to fix.
Start by re-grading the soil around the foundation of the home where water seems to be entering, or invest in waterproofing. It’s also a good idea to invest in a dehumidifier to remove moisture on an ongoing basis.
There are some areas that are more prone to water in the basement than others. Most buyers know if a little water is to be expected or not. If you’re unsure how prevalent the problem is in your area, feel free to call me anytime for advice.
The second most common problem found by inspectors is poor wiring. The wiring in your home needs to be up to code, and has to have sufficient overload protection.
Sometimes the best way to be sure the wiring in your home is in good shape is to hire a home inspector, or electrical contractor to check it out for you. Even if you’re not selling your home right now, you would want to make sure your family is living in a house that is safe from fire hazards.
Another major problem found in certain areas, is termite damage. If you begin to suspect at any time that your home may have termites, it’s urgent that you call a pest control service right away. This particular problem needs to be taken care of quickly.
More Important Home Fixes
Other areas that should be looked at as potential problems are the heating systems of your home, structural damage, such as extensive cracks in the walls or ceiling, or leaky roofs.
When deciding what is important to fix, put yourself in the place of the buyer. If you were considering buying the home you live in now, what would you consider important that the seller fix?
Handle problems in condition or construction with estimates and repair by a reputable contractor. Sooner is better than later, especially when the demands of moving and evaluation of the buyer run high. Do it now!
Anything you can do to make your home more saleable in advance may mean more money and less hassle when you’re actually ready to sell.
The most frequently found problem area is water in the crawl space or basement. Poor drainage can result in water damage that will be more than apparent to an inspector. This can be an expensive problem to fix.
Start by re-grading the soil around the foundation of the home where water seems to be entering, or invest in waterproofing. It’s also a good idea to invest in a dehumidifier to remove moisture on an ongoing basis.
There are some areas that are more prone to water in the basement than others. Most buyers know if a little water is to be expected or not. If you’re unsure how prevalent the problem is in your area, feel free to call me anytime for advice.
The second most common problem found by inspectors is poor wiring. The wiring in your home needs to be up to code, and has to have sufficient overload protection.
Sometimes the best way to be sure the wiring in your home is in good shape is to hire a home inspector, or electrical contractor to check it out for you. Even if you’re not selling your home right now, you would want to make sure your family is living in a house that is safe from fire hazards.
Another major problem found in certain areas, is termite damage. If you begin to suspect at any time that your home may have termites, it’s urgent that you call a pest control service right away. This particular problem needs to be taken care of quickly.
More Important Home Fixes
Other areas that should be looked at as potential problems are the heating systems of your home, structural damage, such as extensive cracks in the walls or ceiling, or leaky roofs.
When deciding what is important to fix, put yourself in the place of the buyer. If you were considering buying the home you live in now, what would you consider important that the seller fix?
Handle problems in condition or construction with estimates and repair by a reputable contractor. Sooner is better than later, especially when the demands of moving and evaluation of the buyer run high. Do it now!
Anything you can do to make your home more saleable in advance may mean more money and less hassle when you’re actually ready to sell.
Monday, August 25, 2008
Consumer Confidence
The balance of sentiment regarding major purchases has stayed negative for three consecutive quarters, hitting its lowest point in more than a decade. This negative balance of opinion means more households believe it is a bad time to buy a big ticket item such as a home or a car. This indicator is an important factor underlying the housing market. Rising food and fuel cost are continuing to take a large bite of household budgets and households expect finances to dim even further over the next 6 months to reach the lowest point in seven years. For the first time in almost five years more people expect fewer jobs than those who said they expect more jobs. All this leads to a less active housing market and makes pricing a key to turning your home listing into your home sold. The Canadian Real Estate Council and Vancouver Island Real Estate continue to note that there are buyers out there they just want to pay what the market predicts.
Thursday, August 21, 2008
Should you try to “Time” the Market?
If you’re thinking of buying a new home, you might be tempted to wait until “the market is just right.” That might work for professional real estate investors who are willing to take those kinds of risks. But if you’re looking for your next dream home, trying to time the market is usually not a good idea.
Why? Because no one can predict the real estate cycle with any degree of accuracy. Interest rates go up and down, as do housing prices-often a lot less predictably than experts care to admit to. If you attempt to wait until just the right moment, that moment may never arrive. And, you’ll miss out on some great opportunities.
When is the best time to look for a new home? When you’re ready to buy one. Don’t wait. Start your search today.
Take a Close look At Track Record
Why is one major league baseball player paid $5,000,000 while another on the same team, wearing the same jersey, with the same qualifications and experience is pair only $300,000?
The answer is, of course, track record. The player that hits the ball and makes the bases more often than most other players in the league, year after year, is considered the greatest asset to the team-and is therefore paid a significant premium.
Now, you don’t have to be a baseball fan to understand how the importance of a track record applies to selling your home. A real estate agent with a track record of top performance is going to have a much greater chance of selling your home quickly and at the best price.
How do you determine the track record of a prospective real estate agent? Ask. Most reputable REALTORS will share this information with you and many are, in fact, proud of their track records.
Want to discuss how to sell your home more quickly and at the best price? Call today 250-246-8866
Why? Because no one can predict the real estate cycle with any degree of accuracy. Interest rates go up and down, as do housing prices-often a lot less predictably than experts care to admit to. If you attempt to wait until just the right moment, that moment may never arrive. And, you’ll miss out on some great opportunities.
When is the best time to look for a new home? When you’re ready to buy one. Don’t wait. Start your search today.
Take a Close look At Track Record
Why is one major league baseball player paid $5,000,000 while another on the same team, wearing the same jersey, with the same qualifications and experience is pair only $300,000?
The answer is, of course, track record. The player that hits the ball and makes the bases more often than most other players in the league, year after year, is considered the greatest asset to the team-and is therefore paid a significant premium.
Now, you don’t have to be a baseball fan to understand how the importance of a track record applies to selling your home. A real estate agent with a track record of top performance is going to have a much greater chance of selling your home quickly and at the best price.
How do you determine the track record of a prospective real estate agent? Ask. Most reputable REALTORS will share this information with you and many are, in fact, proud of their track records.
Here are some REALTOR “stats” you should consider:
- The percentage of listing the REALTOR actually sold.
- How quickly those homes sold (Average number of days on the market.)
- The percentage of asking price those homes were sold for.
Keep in mind that, even in the hottest markets, not every home will sell for 100% of the asking price. So if the average for your neighbourhood is 90% and the agent you’re considering consistently sells for 95% of the asking price, then this performance is well above average.
Want to discuss how to sell your home more quickly and at the best price? Call today 250-246-8866
Monday, August 18, 2008
Board Stats
The stats for the month of July have just been released by the Canadian Real Estate Council (CREA) for the period ending July 31, 2008 and the stats show an overall decline in unit sales but a huge increase in inventory. The stats released through CREA for the Vancouver Island area show unit sales of 444 units down 28% from last year when unit sales were 616 for the same time period. CREA on a positive note is very firmly stating that properties that are correctly priced are still selling. Listings for July of this year are up 40% from last year but the price increase is very marginal. The Vancouver Island Real Estate Board is made up of over 1200 members and while average sales prices continue to rise slowly VIREB saw monthly average prices come down from the previous month in all zones except Port Alberni. This further shows that consumers are being educated by their REALTORS that properties that are priced right are continuing to sell.
Friday, June 27, 2008
Current Market Outlook
Hello,
On June 26 2008 we recieved this update on the Canadian Housing Market from TD Bank.
• The long awaited end of the Canadian housing
boom has occurred, reflecting more moderate
demand and increased supply of properties
for sale
• Most of Canada’s major housing markets have
moved out of seller’s territory to more balanced
markets
• TD Economics forecasts modest national average
price growth of 2.0% this year and 3.5%
next year, down substantially from the 10%
annual pace of the last six years
• Sales are significantly lower than in the banner
year that was 2007, but they are returning
to 2004-06 levels, held up by solid economic
and financial fundamentals
• Past erosions in affordability are the main factor
behind weaker sales, but affordability is now
set to improve
• Additional supply of homes for sale is booming
out west and new listings must be absorbed
at more conservative prices before demand
can lift prices again. After a pullback over the
next 12 months, Alberta’s major markets will
stabilize and post mild prices gains thereafter
• Saskatchewan is bucking the national cooling
trend, but price growth will come back down
to earth next year
Best Regards,
The Debbie Simmonds Lifestyles Real Estate Team
On June 26 2008 we recieved this update on the Canadian Housing Market from TD Bank.
• The long awaited end of the Canadian housing
boom has occurred, reflecting more moderate
demand and increased supply of properties
for sale
• Most of Canada’s major housing markets have
moved out of seller’s territory to more balanced
markets
• TD Economics forecasts modest national average
price growth of 2.0% this year and 3.5%
next year, down substantially from the 10%
annual pace of the last six years
• Sales are significantly lower than in the banner
year that was 2007, but they are returning
to 2004-06 levels, held up by solid economic
and financial fundamentals
• Past erosions in affordability are the main factor
behind weaker sales, but affordability is now
set to improve
• Additional supply of homes for sale is booming
out west and new listings must be absorbed
at more conservative prices before demand
can lift prices again. After a pullback over the
next 12 months, Alberta’s major markets will
stabilize and post mild prices gains thereafter
• Saskatchewan is bucking the national cooling
trend, but price growth will come back down
to earth next year
Best Regards,
The Debbie Simmonds Lifestyles Real Estate Team
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