5.28.2012

Staging: Now What?

You've probably noticed I've been a bit MIA last week, it was the final push on my home renovation and there was a lot to do before the house goes up for sale on Wednesday. Anyway, Venture Homes is coming tomorrow to take pictures and do a virtual tour and I couldn't be more excited that it's finally coming to an end.

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In the meantime, Christina from The Staging Group is back to do her next post in our staging series, the floor is all yours Christina.........

Hello Again,

In my last blog I addressed the question of “Why should I stage my house?”  As a brief re-cap I have added a few points below:

Staging works!
·         Buyers are looking for move-in-ready homes NOT projects and to do lists.  Staging shows buyers exactly what the benefits are of a property.
·         Staged homes look better in MLS pictures and therefore draw a larger group of potential buyers to view the home.
·         Homes that have not been staged take 67% more time to sell than homes that have been staged.
·         Staged homes sell for more money than non-staged homes. 
·         Staging can make you money, not cost you money.

Now that we are all up to speed on why staging works, let’s address the question of “I have decided to stage my house.  Now what?” 

First of all, congratulations!  You have just made a great decision and taken the first step towards selling your home faster and for more money.

Now you need to hire a Stager.  You are going to want to do some research to make sure that you are working with a qualified stager, someone professionally trained in the area of staging.  Remember, staging isn’t just decorating and de-cluttering, so it’s important to ensure that the person you are working with knows real estate and the basics of home renovations as well.  Be sure to ask for photos of their previous work as well as references.

Once you have decided on who you would like to work with, schedule a consultation.  My consultations take approximately 2 hours.  We discuss your timeline, your goals and your budget.  After doing a thorough walk through of the property, you will receive a detailed list of items that need to be addressed prior to staging.  I will then put together 2 to 3 quotes for staging that address all necessary items and keeps in line with your goals and budget.

After you have chosen which option works best for you, we can schedule your staging day! 

This leads me to the next question I’d like to address…"How do I live in my house after it has been staged?"  This is a great question and a big concern for anyone that has children and/or pets.  But I think it’s a question better addressed next time.

As always, thanks for reading!

Christina Thurston
For more information about what The Staging Group can do for you, please visit them at  http://www.thestaginggroup.ca/ or email Christina at christina@thestaginggroup.ca. You can also follow The Staging Group on Twitter @thestaginggroup and like them on Facebook.

Don't forget that Christina is offering a FREE consultation to all my clients, provided they use her services, which is awesome!

Would you use a staging company to sell your home? Has this series made you more informed about staging and the whole process? Christina and I would love to hear your feedback!

Aleks

5.15.2012

Ode To Exposed Brick

If you're a regular follower of my blog or follow me on Twitter, then you know I'm totally obsessed with exposed brick in a home. I rant and rave about it all the time and even exposed an entire wall in my house during my current renovation as well as a fireplace and a chimney stack in my master bedroom, maybe it's a bigger problem then I thought.The great thing about exposed brick is that it looks awesome anywhere in your home and in a variety of colours. So it would only be natural for me to do an ode to exposed brick on my blog, so here it goes.....

In the bedroom



In the kitchen











In the dining room





In the entryway, either half or fully exposed




How about on the floor or on the ceiling?





In the bathroom




Last but not least, in the living room







Honestly I can keep going, but I'm sure you've had enough. So that wraps up my ode to exposed brick. Do you love it as much as I do? Have you exposed any brick in your home? I would love to see some pictures!

Also on a side note, I just got on Pinterest, so make sure to follow me, RealtyqueenTO!

***Images via Pinterest, Apartment Therapy, The Goodie Life*** 

Aleks

Treasures From Aberfoyle

I had a busy weekend spent on home renovation errands and a trip to the Aberfoyle antique market. With my home renovation wrapping up, there were a few specific things I was looking for, here was my list:
  •  light fixture
  • old letters of the alphabet
  • old map of Toronto, preferably my neighbourhood, the Junction Triangle
  • piece of furniture to transform into a wet bar for my basement
  • ironing board
  • suitcases and school chairs for a friend
Unfortunately, I didn't find everything on my list, but I was really happy with what I ended up taking home. Plus it was a great day to spend outdoors doing something I love, with my boyfriend and puppy, Roxie!

This is what came home with me.....


Total fluke that everything matched so well, found my light fixture, ironing board and suitcases

Didn't find an old map of my current neighbourhood, but found one of the neighbourhood where I bought my first and second house, dating back from 1910, how cool? I'll be getting this one framed.

 

Got a bit side tracked and bought this Coca Cola wood tray which I thought would be perfect for the backyard with some glasses and a pitcher of ice cold lemonade, spiked with a little something and this cream coloured light fixture for my boyfriend who will be starting his home renovation in June.


How awesome is this light fixture?

Candy machine, once again for the boyfriend and not me. We were told by the lady who sold us this, that this machine is a replica, but she said it was a good one because it's made out of cast iron, like the old ones.

Then I discovered these........

Yummy cupcakes from Robin's Cupcakery. This was the first time I've ever seen cupcakes at the Aberfoyle antique market and I was excited, how cute are these? They tasted even better.....flavours from left to right, banana nut, red velvet, cinnamon bun, raspberry lemonade and cotton candy. The best part? They are located in the GTA, dangerous!

The missing cupcake.....S'more

This is what didn't come home with me....


Always wanted and still want one of these, but with a hefty price tag of $350, it didn't make it home with me


Totally fell in love with this old door turned corner bookshelf, I was prepared to take it home, only to find out it had been sold :( It further broke my heart when they told me they sold it for $110 and they were originally asking $160, sigh!

So those were my adventures and finds of the weekend, what do you think? Did you attend any antique markets this weekend?

One last piece of good news for today, my steel stair stringers finally arrived today. I can't believe the pain and agony these stairs have put me through. I started off my home renovation by deciding I was going to rip out the old staircase and do a new modern/industrial floating staircase. A fellow renovator recommended a company in Saskatchewan, Artistic Ironworks, which he had used for his stairs with success and a great rate. Needless to say I placed the order and 3 weeks later they arrived at my doorstep. My contractors went to install them and it turned out they made them in the wrong size! I called them up and they sent out a replacement pair, free of cost right away. The ones arrived 2 weeks later and once again they were wrong! I called them once again and spoke to the owner of the company. After realizing their mistake for the second time, he informed me that the stairs I'm looking for is a custom job and the price increased by double of the original amount I already paid. I guess you're wondering where the good news is, I promise it's coming. I told him that was unacceptable and that at this point I would source a local company in Toronto to make them as my timeline was now getting tight and I couldn't afford any more mistakes. I gladly agreed to ship back their stairs at my cost for a full money refund. At that point the owner lost on me, yelled and swore  and things got nasty. Lesson learned, don't ever order from these people again or recommend them. So after finding Ignac Blacksmith and not having stairs in my home since the beginning of March, these puppies arrived today.....

They don't look like much now, but once they get installed tomorrow and the wood steps get mounted on, they will complete the look on my main floor. So for any of your artistic metal needs either inside our outside your home, make sure to contact Ignac Blacksmith.

The completed stairs will look something like this, just to give you a hint



Can't wait until it's all done! 

***Image via Beaucher***

Aleks

5.10.2012

5 Questions Before Selling



There are 5 questions you should ask yourself before even thinking about calling a Realtor to sell your home.
Want to know what they are?  Then click your way over to RateHub where I break it down for you. Or just click here, it's that easy!

Aleks

5.09.2012

Outlook On Canadian Housing Market

I have some exciting news to share. Brennan Valenzuela from RateHub and I will be swaping blog posts once a month! His posts will be featured here and mine will be featred on RateHub's blog. For those of you who don't know what RateHub is all about, I'll fill you in. It's an easy to use platform where they compare banks and broker rates as well as present mortgage information in a simple to understand way.

Take it away Brennan...........


The Canadian housing market is on edge. Open a newspaper. Click through a blog. Listen to a podcast. The amount of content debating a possible Canadian housing crash is as feverish to TMZ buzzing about Lady Gaga’s latest meat dress. So, why is everyone so concerned? Because a Canadian housing collapse would likely take the economy with it, as evidenced by the US sub-prime mortgage crisis that spurred the financial crash of 2008.

How safe is Canada’s housing market and are we doomed to repeat the same fate?

Ratehub has examined the data and fine print to determine the likeliness a US-style housing burst could occur in Canada. There are qualities of the 2007 US housing market that are present in our current Canadian housing market which should be a concern, however, Ratehub feels the Canadian housing market will cool, not crash due to some very fundamental differences between the two nations.

The similarities: Why we should be worried

Sky-rocketing residential home prices are the most obvious shared similarity between the two markets. During the peak of the US housing bubble, it required 473% of the median household income to purchase a median priced home (approx. $225,000). Currently, the average Canadian home price is $369,677 for a multiple of six times the Canadian family after-tax income of $60,000.

An ultra-low mortgage rate environment also helped fuel the US housing bubble by making it cheap for consumers to borrow money. During the early 2000s, highly favoured 30-year fixed rate mortgages reached record lows in the US. Current mortgage rates in Canada are also at historic lows. For example, 10-year fixed rates are available at an unprecedented rate of 3.79%.

The biggest red flag, which has caused Finance Minister Jim Flaherty and Bank of Canada Governor Mark Carney to express concern, is Canada’s rising level of household debt. Today, the average Canadian owes $1.56 for every $1.00 they make – a ratio the US hit during the height of their crash.

The differences: What helps shield us

Canadians are internationally known as conservative people. We’re polite. We say ‘thank you’ and ‘excuse me’. Canada maintains strict mortgage underwriting standards. A stated income mortgage is one where the borrower cannot verify their income through traditional methods. Without ‘hard-proof’ of income, stated income mortgages pose a serious risk to lenders. During the US housing bubble, almost half of subprime mortgages were made up of stated income mortgages as lenders began reducing the qualifications for proof of income. Back in the Great White North, stated income mortgages make up less than 5% of all mortgages.

Subprime mortgages accounted for one in every five mortgages in the market during the US housing crash. US lenders became riskier with their lending practices to increase their bottom line.
One of the most well-known consequences of the US housing bubble was home owners ‘walking away’ from their home because they could no longer afford their mortgage. In Canada, lenders can pursue defaulting borrowers for the full amount.

Finally, mortgage-backed securitization is not as prevalent in Canada as it was during the US mortgage crisis. Our lenders must keep 70% of the mortgages they originate on their balance sheets while only 30% are securitized (sold to investors). Lenders in the US securitized 60% of the mortgages they originated, or double the Canadian equivalent.

What will happen to the Canadian housing market?

The market is poised for a correction, but a soft correction. Although Canada shares many similarities with the housing market that fell apart 5 years ago in the US, there are some notable differences that shield us from the same fate. Canada maintains stricter mortgage practices including borrower qualifications and mortgage products that don’t rely on teaser rates and no-money down.

The following article was written by Brennan Valenzuela for Ratehub.ca, a mortgage rate comparison website that is dedicated to helping and educating first-time home buyers.

For more information make sure to follow Rate Hub on Twitter and like them on Facebook. Thanks Brennan and see you next month!

Aleks

5.08.2012

Why Should You Stage?

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Christina is back from The Staging Group to do her next blog post in our staging series, take it away.....

Hello Again,

In my last blog I addressed the question of "What is staging anyway?" As a brief re-cap I have added a few points below:
  • Staging is not just de-cluttering, de-personalizing and re-decorating. Staging is your #1 marketing tool when selling your home.
  • We help determine the target market, evaluate your property "from the buyers' eyes" and analyze where to invest in the property to provide you the highest return on investment.
  • Develop a plan specific to you, your timeline, budget and goals in order to get your property ready to stage
  • Staging or showcasing transforms a home into a "model suite" using techniques such as space optimization, lighting, accessories and art to highlight focal points, optimize the traffic flow and help buyers become emotionally connected.
Now that we are all up to speed on how many different elements are involved with staging, let's address the question of "Why should I stage my house?" Here are a few things to consider:

Why Do I Need A Stager?

Homes that have not been staged take 67% more time to sell then homes that have been staged. Staged homes sell for more money then non-staged homes. Buyers are looking for a move in ready home NOT projects and to do lists.
Staged homes look better in MLS pictures and therefore draw a larger group of potential buyers to view the home.

Can't Buyers Use Their Imagination?

Some buyers can't or don't want to use their imagination. some people find it difficult to see beyond what's in front of them and see the potential that a property has to offer. Staging shows them exactly what the benefits are of a property and allows them to develop an emotional connection.

I Love My Decor, Why Change It?

The way you have decorated your home works well for the way you live. However, this may not work for selling your home. Staging takes away the personal elements of the home's decor and allows the buyers to see their belongings in the space and really see themselves living there.

Can't I Do It Myself?

You have an emotional, vested interest in your home and your belongings. A professional home stager can walk through your property and quickly make suggestions that are completely objective and that will give you the best return on investment.

In summary....staging works! Numerous studies have been conducted by organizations such as Home Gain and The Maritz Research Group, that have proven staged properties sell faster and for more money then properties that have not been staged.

My next blog post will address the questions, "I have decided to stage my house. Now what?" along with "How do I live in my house after it has been staged?"

Thanks for reading!

Christina Thurston

Thanks again Christina for a very informative post, can't wait to read your next one!

For more information about what The Staging Group can do for you, please visit them at http://www.thestaginggroup.ca/ or email Christina at christina@thestaginggroup.ca You can also follow The Staging Group on Twitter @thestaginggroup and like them on Facebook.

What are your thoughts on staging? Would you ever using a staging company to sell your home?

Aleks

5.07.2012

Client Testimonial

This past Friday, one of my favourite first time buyers closed on their new home. I was so excited to share this experience with them as it's a couple that I know from high school and they are also getting married this summer and starting their new life as newlyweds in downtown Toronto. Seeing the smiles on their face and how happy they were, totally reminded me why I love real estate so much. Finding a home for someone to grow their lives in and make new memories and start new families, couldn't make me any happier. Those kinds of moments don't happen so often, so when they do, you have to cherish them.

We rang in their closing date with some bubbly I brought them......

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And then they gave me this.......



Thanks again guys, I wish you tons of happy memories in your new home!
Aleks

5.05.2012

Monthly Newsletter: May


I'm feeling a bit repetitive, but the Toronto real estate market is still climbing to new heights with no slowing down in the near or distant future as proven by the April 2012 numbers. 10,350 transactions were reported through the Toronto MLS which is 18% higher then April 2011, you read it right, that's not a typo. The big winner here, which I'm sure will come as no shock considering there's offer deadlines, left, right and center, single detached homes. This category saw transactions up by 22% when compared to a year ago with semi detached homes coming in at 15%. I think the single detached home wins by a long shot. Clearly there is still a ton of demand and just not enough inventory to satisfy the appetite of the eager buyer. The not so surprising media doom and gloom is back, I guess ratings are low these days, but that's not stopping people. I'm not trying to say that Toronto or even Canada is immune to a cooling market, but there's no "bubble" waiting to burst with an apocalyptic outcome.

Our immigration is at an all time, rates are low and generation Y is either ready to upgrade or buy their first property. Not to mention our banks are strong too. Bloomberg came out with a report this week, talking about the world's 10 strongest banks and guess which country had 4 banks on that list, you guessed it, Canada. No other country dominated the list like Canada. Rounding out the top 20 are 3 banks from the US and 4 European banks. Canada's banks are tops, we should be proud and not scared.

 Here's the list of our 4:
  • CIBC #3
  • Toronto-Dominion Bank #4
  • National Bank of Canada #5
  • Royal Bank of Canada #6
Now that's impressive, wouldn't you say? My bank made the list, did yours?

So now that we got that out of the way, let's get more in depth with our numbers:
  • Average selling price in the GTA......$517,556, up 8.5% when compared to April 2011
  • Average selling price in the 416 area...$568,436, up almost 8% when compared to the same time last year
  • Condo market showed a steady price growth at 4% from last year
Moral of the story, keep your debts in line, look towards the future and plan for it now, financially and don't over leverage yourself. Best advice I can give!

Here are some more details on the Toronto real estate market for April 2012 and the outlook for the remainder of 2012.


Have a great May!

Your friend in real estate,

Aleks
***Statistics via TREB***
***Image via SCRENews***
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