In 2019, in the Halifax/Dartmouth region, we saw 5408 sales of single family homes in the greater HRM. Average days on market was 61 days. The highest sale was $1,800,000 and the lowest was $25,000.

Halifax-Dartmouth

Single detached home sales in Halifax-Dartmouth numbered 1,280 units in the third quarter of 2019, an increase of 14.6% when compared to the same quarter in 2018. This was the highest level of sales for this quarter on record.

Months of inventory numbered 4.5 at the end of the third quarter of 2019, down from the 6.2 months recorded at the end of the third quarter of 2018.

The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

With a tighter market, homes in Halifax-Dartmouth spent less time on the market in the third quarter of 2019 than they had a year earlier.

The median number of days on market for homes in Halifax-Dartmouth was 39 in the third quarter of 2019, down from 50 days in the third quarter of 2018.

The median sale price for single detached homes in Halifax-Dartmouth was up 8.6% on a year-over-year basis to $312,750 in the third quarter of 2019.

The post Average House Price in Halifax appeared first on Blue List Realty Canada.

We’ve all heard this expression before. And now, while you are preparing your house to sell, it shouldn’t be far from your mind. When it comes to getting your house ready to show, less is more. Clutter can make a space look smaller than it actually is and messy and take away the Buyers focus from looking at the home to looking at all of the stuff! Potential home buyers might worry there may not be enough room for their belongings if your house is overflowing with stuff.

Take the time to go through each room in your home and remove unnecessary objects and furniture. Buyers are curious and virtually no area of your home is off limits, therefore it’s important to make sure every inch of it is presentable. Keep surfaces empty, organize all closets, and clear out the “junk drawer.” Sell the excess to make some extra money, donate it to a homeless shelter, rent a storage space or rent a junk bin. Try to walk through each room and view it as if you are the potential Buyer and visualize what they would see.

Companies like 1-888-JunkBin Halifax can help you with this process as they offer 2 services, Full Service Junk Removal and Self Service Junk Bin Rentals. They will gently load all of your unwanted furniture and other items and try to donate or recycle at least 60% of the items. In some cases, they have been able to donate or recycle over 90% of the items. They also offer Self Service Junk Bin Rental, where you can rent a Junk Bin in and have up to 7 days or longer to take your time sorting through the items, while not feeling rushed.

For more info about 1-888-JunkBin Halifax, please click on the link below:

1-888-JunkBin Halifax

The post Declutter your home with help from 1-888-JunkBin Halifax appeared first on Blue List Realty Canada.

However, that doesn’t mean you shouldn’t take certain precautions to ready your property for a quick and profitable sale this fall!

Here are BlueList Realty’s top 10 Tips for a Fall Sale:

1. Clean up your yard!  
   Let potential buyers see the true potential of your property by ensuring all fallen leaves are raked, bagged and cleared. Clean up any fallen branches and leaves and ensure your bushes and landscaping is trimmed nicely and neatly!
   
2. Spruce up your entry way.  
   Fall flowers are among some of the nicest colour palettes out there.  You can easily spruce up a front porch or walkway with a few fall urns.  Side note– Right now at Costco they have amazing flower urns for only $12.99…RUN, don’t walk before they’re all gone!
   
3. Window Washing!  
   Fall is the time that dirty windows show the most!  With various mold, rain and wind debris, your windows can be left looking look dull and spotty.  Make sure to do a full window clean, inside and out (that means taking those screens out and really getting in there) to ensure your home is sparkling for those potential buyers.
   
4. Filter Fuzz.  
   Autumn is the ultimate time to change out those furnace filters and clean out the heat pump to ensure your air quality is tip top.
   
5. Fall Smells are the BEST smells.  
   If you’re a baker, perhaps consider baking a few apple or pumpkin pies before a showing.  Not a baker?  Try placing a few cinnamon sticks in a vase in the kitchen, or brewing a pot of pumpkin flavoured coffee before a showing, that way, you also get an awesome coffee to take with you.  Cozy fall smells will help potential buyers envision themselves tucked away in their new home.  
   
6. Fall colours.  
   Consider adding a few fall accent colours to your décor.  That doesn’t necessarily mean painting walls, but perhaps a few throw pillows here and there or a fall-inspired quilt or throw on the back of a chair to create that cozy and inviting atmosphere could be just the trick.  Less is more when it comes to seasonal décor.  
   
7. Lights, lights, lights!  
   In the summer months, leaving lights on for showings isn’t usually an issue given the long day light hours.  However, in the fall, it could be dull and gloomy in the middle of the afternoon!  Make sure to keep all of your lights on, open up the blinds and even consider leaving closet and appliance lights on as well, it all helps!  While you’re at it, check all of your light bulbs to make sure they’re all up to date and working!
   
8. Photo books!  
   Keeping photos around for showings that showcase your home during the summer months, is a great visual tool for potential buyers!  Fall can have a negative effect on many summer blooming bushes and flowering plants, having photos available for potential buyers when your lawn and landscaping are in full bloom will allow them to fill in those blanks!
   
9. HEAT it up!
   There is nothing worse than viewing a freezing home on a chilly day!  Even if you’re not ready to have your heat on full time, make sure the house is warm when you have people coming to view it.  Creating a comfortable atmosphere is key!
   
10. Make your listing STAND OUT!  
    Be sure to take photos on a bright and sunny fall day so you can take advantage of the colours and warmth of the season. Typically, there during the fall months, there is a little less competition on the market, but that isn’t a guarantee, so make sure your listing stands out from the rest.

As a buyer, the Fall is a great time to be house shopping!

Coming off of the summer rush means there is less on the market and therefore more flexible pricing, although this will vary by year and market!  What doesn’t typically vary though are the sales for home décor.  The fall is a great time to be buying furniture and other home accessories as stores capitalize on back to school and start to gear up for the holidays!  Speaking of which, if you buy a home in the fall, you’ll be in our home for the Holidays!

All in all, the fall is a great time to list or buy, if you have questions about listing your home or looking to buy a new home this fall, get in touch with one of our qualified agents, we’d be more than happy to work with you!

The post Fall Home Buying & Selling Tips appeared first on Blue List Realty Canada.

How to Set an Offer Price

There is no set equation to determine how you’ll reach an offer price. Rather, the process involves a range of research and comparison that will vary with each situation. You’ll need to look at sales of comparable properties, and factor in additional data such as the condition of the property, the current market, and seller circumstances. With this information in hand, you will be able to determine a fair price range and, from there, establish the price you’re willing to offer.  Making sure your offer is fair and reasonable is an important first step in the negotiation process when buying a home.

Concentrate on the following areas to help you determine an offer price:

Comparable Sales

•  Compare prices of homes that are similar to the property you’re considering in the following areas: number of bedrooms and bathrooms, square footage, lot size, type of construction, and garage space.
•  The most comprehensive and in-depth information can be accessed through the Multiple Listing Service (MLS). Your Realtor, who will be working closely with you to set your offer price, can help you navigate this service.

Property Condition

• Observe how the property compares to the rest of the neighborhood. Is it average, above average, or below average?
• Look at structural condition: walls, ceilings, windows, floors, doors.
• Pay close attention to: bathrooms, bedrooms, condition of plumbing and electricity.
• Also check the fixtures: light switches, doorknobs, drawer handles, etc.
• What is the condition of the front and back yards?

Home Improvements

• Cosmetic changes can be largely ignored, but any major improvements should be taken into account.
• Take special note of: room additions (especially bedrooms and bathrooms).
• Items such as swimming pools may be taken into account, but usually won’t affect your offer. Your Realtor can offer your guidance in these matters.

Market Conditions

Seller’s Market:
A seller’s market is considered a “hot” market. This type of market is created when demand is greater than supply—that is, when the number of Buyers exceeds the number of homes on the market. As a result, these homes usually sell very quickly, and there are often multiple offers. Many homes will sell above the asking price.

Buyer’s Market:
A Buyer’s market is a slower market. This type of market occurs when supply is greater than demand, the number of homes exceeding the number of Buyers. Properties are more likely to stay on the market for a longer period of time. Fewer offers will come in, and with less frequency. Prices may even decline during this period. Buyers will have more selection and flexibility in terms of negotiating toward a lower price. Even if your initial offered price is too low, Sellers will be more likely to come back with a counter-offer.

 Balanced Market:
In a balanced market, supply equals demand, the number of homes on the market roughly equal to the number of Buyers. When a market is balanced there are not any concrete rules guiding whether a Buyer should make an offer at the higher end of his/her range, or the lower end. Prices will be stable, and homes will sell within a reasonable period of time. Buyers will have a decent number of homes to choose from, so Sellers may encounter some competition for offers on their home, or none at all.

Comparable sales information helps you establish a price range for the home you’re interested in. Adding in the additional factors mentioned above will guide your decision of whether you consider a “fair” price to be near the upper or lower limit—or the middle—of that range. Keep in mind, this price should be the one you’d be happy with once all negotiations are said and done. The price you decide to begin with depends on your particular style of negotiation. Most Buyers begin the negotiation process with a number lower than the “fair” price they’ve come up with.

The post How to Set an Offer Price appeared first on Blue List Realty Canada.

We’ve all heard this expression before. And now, while you are preparing your house to sell, it shouldn’t be far from your mind.

While logical factors such as price and location narrow the pool of houses a potential buyer will look at, the ultimate decision to buy is fuelled by a mixture of logic and emotion, and emotion often wins out.

The same might be said for the process of selling a home. For this reason, Real Estate Agents, when they talk to you about buying real estate, will refer to your purchase as a “home.” When discussing the sale of your current home, however, an agent will refer to it as the “house.” This is a conscious choice. The agent knows that buying a house is often an emotional decision, while, when selling a house, emotion should be separated from the process.

Buyers are searching for a “home”—a place in which they will feel comfortable, secure, and happy, a place in which they can imagine settling down and raising their family.

As a seller, your goal is to cultivate these feelings through the property you’re selling. Look at your house as a marketable commodity. A buyer’s emotional response is triggered early, so you want to ensure you have done everything you can to encourage a positive response to your house from the outset.

Within minutes—even seconds—of pulling into your driveway, buyers have formed an impression that they will carry with them through the rest of the showing, and beyond. Keep in mind, this impression will not only influence whether or not they make an offer, but also what they consider to be the value of the property.

If you’ve ever visited model homes, you’re familiar with effective presentation styles.

Have you ever walked into one of these homes and immediately begun taking stock, planning how to get your home to look that good? Well, now is the time to take some of these steps.

Of course, there are ways to achieve the same effect in your own home without incurring model home costs. When homes create this immediate type of emotional appeal, they tend to sell quickly and for more money. Use the following step-by-step guide to get your house into selling shape before you put the property on the market, and you’ll be well on your way to a successful sale!

1. Depersonalize.

This should be one of your first steps when you begin preparing your house to sell. Over the years, a home inevitably becomes tattooed with the owners’ lives, covered with touches that have made it that special place for you.

At this point, however, you want buyers to recognize it as a property they could make into their unique place. When a home buyer walks into a room and sees these personalizing touches—such as photos on the walls or trophy collections—their ability to picture their own lives in this room is jarred, impairing a positive  motional response.

So, your first step will be to remove all the family photos, the trophies, collectible items, and souvenirs. Pack them all together, so you’ll have everything you need at your disposal when it comes time to personalize your new home. For the time being, rent a storage space and keep these items there. Do not simply transfer these items to another place in your house. Do not hoard them away in a closet, basement, attic, or garage, as the next step in preparing your home is to minimize clutter—and these areas of your house will all be targeted.

2. Remove All Clutter.

The next step on the list is to purge your house of the excess items that have accumulated over the years. This is the hardest part for many people, as they have an emotional investment in many of these things. When you have lived in a house for several years, a build-up of personal effects occurs that is often so gradual that you don’t notice the space is becoming cluttered. If you need to, bring in an objective friend to help point out areas that could stand to be cleared.

Try to stand back yourself and see your house as a buyer might. Survey shelves, counter tops, drawers, closets, the basement—all places where clutter often accumulates—to determine what needs to go. Use a system to help you decide: get rid of all items, for example, you haven’t used in the past five years, and pack up everything that you haven’t used in the past year.

Although getting rid of some things might be hard, try to do it without conscience or remorse. You’ll be forced to go through this process anyway when you move, and with each box you eliminate, your storage space—and the room in general—begins to look larger. We’ve broken down the process into specific areas of your house to help you concentrate your efforts:

Kitchen:

The kitchen is an ideal place to begin, as it’s easy to spot and eliminate the type of clutter that tends to accumulate here. Home buyers will open your drawers and cabinets as they’ll want to check if there will be enough room for their own belongings. If the drawers appear cluttered and crowded, this will give them the impression there is not enough space.

• First of all, remove everything from the counters, even the toaster (the toaster can be stored in a cabinet, and brought out when needed).
• Clean out all the cabinets and drawers. Put aside all of the dishes, pots and pans that you rarely use, then box them and put them in the storage unit you have rented (again, not in the basement or a closet).
• If you, like many people, have a “junk drawer,” clear this out.
• Get rid of the food items in the pantry that you don’t use. Begin to use up existing food—let what you have on your shelves dictate your menus from now on.
• Remove all extra cleaning supplies from the shelves beneath the sink. Make sure this area is as empty as possible. You should thoroughly clean this spot as well, and check for any water stains that might indicate leaking pipes. Buyers will look in most cabinets, and will notice any tell tale signs of damage.

Closets:

•  Go through all clothes and shoes. If you don’t wear something any more, get rid of it. We all have those clothes, too, that we wear only once in awhile, but can’t bear to give away. Box these items and keep them in the storage unit for a few months.
• Go through all other personal items in the closet. Be ruthless. Weed out everything you don’t absolutely need.
•  Remove any unsightly boxes from the back of the closet. Put them in storage if need be. Get everything off the floor. Closets should look as though they have enough room to hold additional items.

Furniture:

•  You may want to tour a few model homes in order to gauge the type of  furniture chosen by design teams to create a spacious, yet comfortable atmosphere. Note how that furniture is arranged to cultivate a certain feeling.
• After having armed yourself with some ideas, stand back and look at each of your rooms. What will you need to remove? Remember, most homes contain too much furniture for showings. These are items that you’ve grown comfortable with and that have become incorporated into your everyday routine. However, each room should offer a sense of  spaciousness, so some furniture will likely need to be placed in storage.

Storage Areas:

•  Basements, garages, attics, and sheds: these are the “ junk yard” areas of any given home. It is possible to arrange simple clutter into a certain order, but junk is sent packing to these often-hidden rooms. First, determine which of these boxes and items you actually need. Can some of it be sent to the dump once and for all?
• Hold a Garage Sale. You’ve heard the saying, “One person’s trash is another’s treasure.” Let these items go to a better home.
• Transfer some items to the rental storage unit. You’ll want to clear the storage areas in your house as much as possible, in order for them to appear spacious to potential home-buyers. Buyers want the reassurance that their own excess belongings will find places for storage in their new home.

The post Preparing Your Home For Showing appeared first on Blue List Realty Canada.

What to Expect when Renovating

Renovating is one of the best ways to improve your homes value. Whether you are replacing carpet, renovating your kitchen or adding on to your home, having a dumpster on site will

Concentrate on the following areas to help you determine an offer price:

Comparable Sales

•  Compare prices of homes that are similar to the property you’re considering in the following areas: number of bedrooms and bathrooms, square footage, lot size, type of construction, and garage space.
•  The most comprehensive and in-depth information can be accessed through the Multiple Listing Service (MLS). Your Realtor, who will be working closely with you to set your offer price, can help you navigate this service.

Property Condition

• Observe how the property compares to the rest of the neighborhood. Is it average, above average, or below average?
• Look at structural condition: walls, ceilings, windows, floors, doors.
• Pay close attention to: bathrooms, bedrooms, condition of plumbing and electricity.
• Also check the fixtures: light switches, doorknobs, drawer handles, etc.
• What is the condition of the front and back yards?

Home Improvements

• Cosmetic changes can be largely ignored, but any major improvements should be taken into account.
• Take special note of: room additions (especially bedrooms and bathrooms).
• Items such as swimming pools may be taken into account, but usually won’t affect your offer. Your Realtor can offer your guidance in these matters.

Market Conditions

Seller’s Market:
A seller’s market is considered a “hot” market. This type of market is created when demand is greater than supply—that is, when the number of Buyers exceeds the number of homes on the market. As a result, these homes usually sell very quickly, and there are often multiple offers. Many homes will sell above the asking price.

Buyer’s Market:
A Buyer’s market is a slower market. This type of market occurs when supply is greater than demand, the number of homes exceeding the number of Buyers. Properties are more likely to stay on the market for a longer period of time. Fewer offers will come in, and with less frequency. Prices may even decline during this period. Buyers will have more selection and flexibility in terms of negotiating toward a lower price. Even if your initial offered price is too low, Sellers will be more likely to come back with a counter-offer.

 Balanced Market:
In a balanced market, supply equals demand, the number of homes on the market roughly equal to the number of Buyers. When a market is balanced there are not any concrete rules guiding whether a Buyer should make an offer at the higher end of his/her range, or the lower end. Prices will be stable, and homes will sell within a reasonable period of time. Buyers will have a decent number of homes to choose from, so Sellers may encounter some competition for offers on their home, or none at all.

Comparable sales information helps you establish a price range for the home you’re interested in. Adding in the additional factors mentioned above will guide your decision of whether you consider a “fair” price to be near the upper or lower limit—or the middle—of that range. Keep in mind, this price should be the one you’d be happy with once all negotiations are said and done. The price you decide to begin with depends on your particular style of negotiation. Most Buyers begin the negotiation process with a number lower than the “fair” price they’ve come up with.

The post What to Expect when Renovating appeared first on Blue List Realty Canada.

Your property has the best chance of selling within its first seven weeks on the market. And, studies indicate that the longer a property stays on the market, the less it will ultimately sell for. A property priced 10 % more than its market value is significantly less likely to sell within this window than a property priced close to its actual market value. About three-quarters of homes on the market today are 5-10 % overpriced.  Sellers will usually over-price their homes by this margin if, either, they firmly believe the home is worth more than what the market indicates, or if they want to leave room for  negotiation. Either way, if you choose to over-price your home by this amount, you run  the risk of increasing the amount of time your home spends on the market, and decreasing  the amount of money you’ll ultimately receive.

At the other end of the selling spectrum are houses that are priced below a fair market  value. Under-pricing often occurs when the owner is interested in a quick sell. You can bargain on these homes attracting multiple offers and ultimately selling quickly at—or above—the asking price.

The knowledge and skills of the Realty Brothers will be invaluable when determining an appropriate asking price. It is the job of the Realty Brothers to know the current market and market trends inside and out, to be closely connected to the real estate market at large, and to be aware of other properties currently for sale in your particular area. Based on this range of connections and knowledge, your Realty Brothers will counsel you on how to price your home properly in order to attract the highest price possible, in the shortest period of time.

Before approaching this process, you should first do some homework yourself. You’ll need to know the workings of the current market before you even begin to think about setting an asking price. The market will always influence a property’s value, regardless of the state of a home, or its desirability.  Here are the types of market conditions and how they may affect you:

1. Seller’s Market:

A Seller’s market is considered a “hot” market. This type of market is created when demand is greater than supply—that is, when the number of Buyers exceeds the number of homes on the market. As a result, these homes usually sell very quickly, and there are often multiple offers. Many homes will sell above the asking price.

2. Buyer’s Market: 

A Buyer’s market is a slower market. This type of market occurs when supply is greater than demand, the number of homes exceeding the number of Buyers. Properties are more likely to stay on the market for a longer period of time. Fewer offers will come in, and with less frequency. Prices may even decline during this period. Buyers will have more selection and flexibility in terms of negotiating toward a lower price. Even if your initial offered price is too low, Sellers will be more likely to come back with a counter-offer.

3. Balanced Market:

In a balanced market, supply equals demand, the number of homes on the market roughly equal to the number of Buyers. When a market is balanced there aren’t any concrete rules guiding whether a Buyer should make an offer at the higher end of his/her range, or the lower end. Prices will be stable, and homes will sell within a reasonable period of time. Buyers will have a decent number of homes to choose from, so Sellers may encounter some competition for offers on their home, or none at all.
Remember, a Realtor is a trained to provide clients with this information about the market, helping you make the most informed decision possible. The Realty Brothers will guide you through the ups and downs of the market and keep you up-to-date with the types of changes you might expect.

Evaluate your house in the other main areas that affect market value:

1. Location:

The proximity of your home to amenities, such as schools, parks, public transportation, and stores will affect its status on the market. Also, the quality of neighbourhood planning, and future plans for development and zoning will influence a home’s current market value, as well as the ways in which this value might change.

2. Property:

The age, size, layout, style, and quality of construction of your house will all affect the property’s market value, as well as the size, shape, seclusion and landscaping of the yard.

3. Condition of the Home:

This includes the general condition of your home’s main systems, such as the furnace, central air, electrical system, etc., as well as the appearance and condition of the fixtures, the floor plan of the house, and its first appearances.

4. Comparable Properties:

The Realty Brothers will prepare you a general market analysis of your neighbourhood, so you can determine a range of value for your property. A market analysis will provide you with a market overview and give you a glimpse at what other similar properties have been selling for in the area.

5. Market Conditions/ Economy:

The market value of your home is additionally affected by the number of homes currently on the market, the number of people looking to buy property, current mortgage rates, and the condition of the national and local economy.

The post The Best Asking Price For Your Home appeared first on Blue List Realty Canada.

The post How to Get Top Dollar For Your Home, Fast! appeared first on Blue List Realty Canada.

1.  Purchase offer deposit.

2.  Inspection by certified building inspector.

3.  Appraisal fee:  Your lending institution may request an appraisal of the property. The cost of this
appraisal is your responsibility.

4.  Survey fee:  If the home you’re purchasing is a resale (as opposed to a newly built home), your lending institution may request an updated property survey. The cost for this
survey will be your responsibility and will range from $700 to $1000.

5.  Mortgage application at your lending institution.

6.  GST: this fee applies to newly built homes only, or existing homes that have recently undergone extensive renovations.

7.  Legal fees:  A lawyer should be involved in every real estate transaction to review all paperwork. Experience and rates offered by lawyers range quite a bit, so shop
around before you hire.

8.  Homeowner’s insurance: Your home will serve as security against your loan for your financial institution. You will be required to buy insurance in an amount equal to or greater than the mortgage loan.

9.  Land transfer (purchase) tax:  This tax applies in any situation in which a property changes owners and can vary greatly.

10. Moving expenses.

11.  Service charges: Any utilities you arrange for at your new home, such as cable or telephone, may come with an installation fee.12.  Interest adjustments.

13.  Renovation of new home: In order to “make it their own,” many new homeowners like to paint or invest in other renovations prior to or upon moving in to their new home. If this is your
plan, budget accordingly.
14.  Maintenance fees: If you are moving to a new condominium, you will likely be charged a monthly condo fee which covers the costs of common area maintenance.

The post Buying a Home: What Expenses to Expect appeared first on Blue List Realty Canada.