2009 January | St. Catharines Real Estate Blog

Making an Offer

January 14, 2009 By Timothy Salisbury Leave a Comment

When you’re making an offer to buy a home, there are six main elements to consider:

1. Price
The price you offer reflects your opinion of the value of the house and is determined by the condition of the property and local market factors. You can make any offer you like. It does not have to be the same as the seller’s asking price.

2. Deposit
The deposit shows your good faith and will be applied against the purchase of the home when the sale closes. Your Royal LePage Realtor can advise you on an appropriate amount.

3. Terms
Include the total price offered and the financing details. You may arrange your own financing or ask to assume the seller’s mortgage, especially if it has an attractive interest rate.

4. Conditions
Conditions are items that must be completed or fulfilled prior to an offer being concluded. These can include subject to home inspection, subject to you obtaining financing, or subject to you selling your existing property.

5. Inclusions and exclusions
Your offer may be contingent on certain items being either included or excluded in the sale. These might include appliances, fixtures, and decorative items, such as window coverings or mirrors.

6. Closing or possession date
The closing date is generally the day the title of the property is legally transferred and the transaction of funds finalized, unless otherwise specified (except in Manitoba and Quebec). In British Columbia the possession date is legally one to three days after closing.

Source: Royal LePage

Filed Under: Buying a Home, Homeowner Information

Current Mortgate Rates for St. Catharines/Niagara area

January 12, 2009 By Timothy Salisbury Leave a Comment

Rate		Term
5-Year Fixed		4.79%
3-Year VRM		4.50% Prime plus 1%. Fully open term!

Quote of the Week
The trouble with our times is that the future is not what it used to be.
Paul Valery

Have a great week and Happy New Year!

Paul Croteau
Mortgage Specialist
BMO Bank of Montreal
31 King Street
St. Catharines, ON
ph: (905) 321-3230
fx: (905) 641-7854
Paul.Croteau@bmo.com

Filed Under: Current Mortgage Rates

House Staging Tips

January 9, 2009 By Timothy Salisbury Leave a Comment

What are cost-effective ways to make my home more appealing to buyers?

According to a recent Royal LePage House Staging Poll, the attitudes of Canadians toward the currency of their homes’ décor differ from industry experts. Most agree, however, that house staging – preparing a house for sale using cost-effective and non-invasive methods – is part of their selling and buying criteria.

The following list of house staging tips were provided by Timothy Badgley, Interior Designer and Owner of Acanthus Interiors:

Keep it clean
Look at your home as though you’re seeing it for the first time. Is every room neat, spotlessly clean, dusted and uncluttered? Steam clean carpets and wax floors. Wash walls, heating and A/C vents and light fixtures. Pay special attention to your bathroom and kitchen – make sure that tile grout is mildew free and baseboards scrubbed. Clean the refrigerator and stove as well as the washer and dryer (inside and out).

Lose the clutter
Have a yard sale or take old furniture, clothing and knick-knacks to Goodwill. Organize shelves, put away items and purge your home of unnecessary items. Make sure that your kitchen and bathroom counters are free of small appliances and personal effects.

De-personalize your home
Make your home “anonymous,” so that buyers can envision it as their potential home. Put away any family photos, sports trophies, collectibles, knick-knacks and souvenirs. This will also help to remove clutter and create more space.

Freshen-up
Adding a fresh coat of paint and laying new carpet will clean and brighten up your home. Choose neutral colours and make it consistent throughout the home. If you choose to wallpaper, make sure that the paper is properly applied, your colour choice is neutral and patterns are kept to a minimum.

First impressions count
Like a first date or job interview, the first impression of your home is the most important. Walking into a home with fingerprinted screen door windows or cluttered entranceways, can influence the potential homebuyer’s decisions. Likewise, strong odours can ruin a sale, so pay close attention to pet, cooking and cigarette smells in your home. Light delicately scented candles or have cookies baking when showing.

Curb appeal
Homebuyers decide whether or not to look inside a house by the appearance of your home’s exterior. Paint or wash the outside of your home. Check your gutters and chimney and make necessary repairs. Keep your lawns trimmed and flower beds weeded. Use urns to define walk spaces and ensure that window boxes are full of healthy all-season plants.

Create the illusion of space
To make your home seem more spacious, it is key to de-clutter and re-organize. Start by removing excess furniture to make rooms feel more open and replacing any items that are not appropriately sized for the room. Clean and organize your closets and remove excess clutter from all areas of your home. Strategically placed mirrors can also help to create the illusion of more space.

Modern choices
Ensure that the décor of your home is modern and tasteful. Use neutral tones on your walls and floors and add colour with removable items such as throw pillows or bedding. Steer away from too many personal touches to create a minimalist and contemporary space.

Doggie don’ts
“Love me, love my pets,” doesn’t apply when selling your home. Take your pets with you when your house is being shown, or at least keep them outside. Pets under foot will quickly put a damper on an otherwise positive showing. While making sure that your house is odour-free and spotless applies to everyone, pet owners need to take special care.

Beautify your backyard
Don’t forget about your backyard. A house showing doesn’t always end at the backdoor. Beyond size and layout, potential buyers can also be influenced by the state of your yard. Keep the lawn, hedges and flowerbeds manicured. Buy exterior storage containers to hide gardening tools, kids toys and pool supplies. Lastly, interested buyers may decide to look inside your shed, so make sure that it is organized and clean.

Source: Royal LePage

Filed Under: Homeowner Information, Selling Your Home

The Emotional Aspects of Real Estate

January 2, 2009 By Timothy Salisbury Leave a Comment

Some of our earliest memories are set in our childhood homes, our families’ homes and vacation spots. These early mental pictures form a sense of our most base comforts and values. They provide a measure by which we look to establish our grown up homes so as to provide the same memories for our children.

As the seller, the decision to sell your home may prove more difficult than you considered. After all, you can’t pack up the spot your daughter took her first steps or your son threw his first baseball. Our memories aren’t complete without the emotional ties that we form around them. However sensible our reasons may be for selling, we also have our sentiments to consider. You will be moving into a new house full of potential for new memories and opportunities.

Regardless of the stage we are at in our lives, fundamentally we will only buy a home we can picture ourselves living in. Emotions are an integral part in selecting a home as well. We believe ourselves to be shopping with a list of practical necessities however once we walk through the front door of our dream home, the list is “chucked” and we begin thinking of it as “MINE!” or “SOLD!”.

How did that happen?

It goes back to those childhood memories. Your ideals stem from where and how you grew up. Perhaps your parents were of modest means and had a small little family home that was quaint and simple or were doctors who hired decorators and never let you sit on the “good” furniture. Everyone’s tastes vary as much as their reasons for liking or disliking a property when attending open houses. Not sitting on the furniture may have you looking for a children friendly home or not having much privacy growing up may leave you craving a larger house.

How we choose to decorate or furnish our home is effected in the same way. A parents’ professionally decorated home may have set the standards for your own or perhaps now you prefer simplicity and the bare essentials. If you grew up with standard white walls, colour may be very intimidating and a big change.

If we only pay attention to the financial aspects of purchasing a house, then you may overlook some of the important aspects that turn it into a home. You may think, “Oh, I’ll be ok with that shag carpeting and I can clean to get rid of that smell.” Unless you are prepared to renovate and update the house as soon as you move in, you had better be prepared to live it the way it is when you move in.

Emotions also tend to determine how much you are willing to pay for a home. If you’ve always wanted a little reading nook complete with window seating and the house you are viewing has that plus a great view of a beautiful yard, you are going to be more strongly attracted to it than one that doesn’t. And you will be willing to pay more. If the house is exactly what you are looking for however it means that your children would attend less than ideal school, you may choose to walk away or offer less.

We often try to ignore our emotional response during major financial transactions, seeing it as a weakness and impulsive. Impulse purchases are made using only our emotions, insecurities or subconscious motivations, however if we measure how we are feeling about a purchase along with the practical necessities and facts you will make a more comprehensive decision.

Whether we are selling or buying a house, our emotional attachments to what defines a “home” will determine perceived value in asking price, offers and selling price.

Stacey Haluka
Staging Spaces
The first stage to selling your house
www.staging-spaces.ca

Filed Under: Buying a Home, Homeowner Information, Selling Your Home

Welcome to 810 Ontario Rd in Welland Ontario Canada

January 2, 2009 By Timothy Salisbury Leave a Comment

UPDATE: This property is no longer being listed!

Please use our online complimentary St. Catharines Ontario real estate search to find similar available listings.

This Welland home is priced at $124,000.00!

This cute and cozy 2 bedroom home should not be overlooked for either residential or commercial location. There are numerous updates and great potential, all for such an affordable price. From its bright and airy foyer to a Florida room complete with side deck for entertaining. Also, there is no shortage of space with a recreation room in the lower level. There is all kinds of extra parking with a detached garage and fenced yard.

For further information on this home, please contact Timothy 1-800-467-8498 or email him.

For other pictures of this home, please click here.

For information on other homes listed with St. Catharines Real Estate, please go to the listings page or the blog listings section.

For Welland’s attractions, please visit:

City of Welland

Around N’ About Welland

Info Niagara

Niagara Food Festival

Filed Under: Listings