It's Not Location, Location, Location but Price, Price, Price That Sells Your Home

  When it comes to selling your home, there is one thing and one thing only that matters….price!  That may seem on the surface to be a bold statement but it's true and here's why.

  As of this posting, there are 1,101 single family homes listed for sale on the MLS® system of the Georgian Triangle Association of REALTORS® (GTAR). Single family home sales for the 1st quarter total 287 individual properties which means that with over 1,100 homes currently on the market, we have over 11 and a half months of inventory available for sale. Essential 1 out of every 4 homes listed for sale sells. Not very good odds when you think about it. Without the proper asking price, your home may end up falling into the “expired listing” category of which there were over 3,200 such properties in our market during 2011.

 Sure, you can argue that location, size, condition, your landscaping, recent improvements you’ve made and a host of other factors make your home better or worse that others on the market but at the end of the day, all those factors boil down to being a factor of price.

 

One of the most important tools in helping both REALTORS® and homeowners arrive at a suitable “market” price for their property is a thoroughly prepared Comparable Market Analysis or “CMA” yet I find it’s something that is often missing. Too often Seller’s focus on asking questions about the rate of commission, the method of advertising the REALTOR® is going to use, will they do a “virtual tour” etc. While all of these add-on initiatives are important, they will not contribute to selling a property that is over-priced.

 
For those that may be uncertain as to what a Comparable Market Analysis (CMA) should include, I have a hand-out (pictured herein) that covers what you should look for in a CMA. Not only will this assist you in understanding what you should look for when determining the pricing of your home, knowing what a thorough CMA consists of will assist you in knowing what to look for when selecting a REALTOR® as well. Contact me for your complimentary copy of “What To Look For in a CMA” and follow my blog for further tips on selling your home.

4th Annual National Garage Sale for Shelter

  On Saturday May 12th, 2012, myself and my associates at the local Royal LePage offices collectively - All Real Estate Services, Locations North & Trinity Realty will be participating in the 4th Annual National Garage Sale for Shelter, in support of the Royal LePage Shelter Foundation.

  Our offices are hosting a Garage Sale at 499 First St, Collingwood from 8:00 a.m. until 2:00 p.m. on that day (May 12th) and it is certain to be a great event that will “drum up” lots of people and hopefully money – all for a worthwhile cause! Face painting, balloons, entertainment, a bake sale, food – oh and not to mention the garage sale itself! Lots of fun for the whole family!

 

  We are asking for your support in the way of a donation to be used as part of our Silent Auction. A voucher or a gift certificate to be used towards local goods and/or services would be a great idea or you might prefer to make a cash donation to The Royal LePage Shelter Foundation. We would be happy to promote your business and involvement in all of our advertising!   All the proceeds of the auction will be donated directly to our local Women and Children’s Shelter – My Friends House.

  If you would like to participate in the Garage Sale, yourself, you can purchase a table for $25 to sell any unwanted or unused items from around your home. Come spend the day with us in support of a great cause and get of that stuff you have been wanting to dispose of.

 

The Royal LePage Shelter Foundation is Canada’s largest public foundation dedicated exclusively to funding women and children’s shelters and violence prevention and education programs. We believe in the importance of giving back to the very community we as REALTORS® make our livings from.  As
such, Royal LePage is the only Canadian real estate company to have its own charitable Foundation. Attached please find information regarding the Shelter Foundation. At last year’s sale, Royal LePage nationwide raised an astounding $ 425,000 - the largest charity Garage Sale ever held in Canada.  Locally, we raised $ 3,000 for My Friends House – and we hope to surpass that amount this year!

 

We certainly appreciate any help you could provide. Should you require further information, please contact our Garage Sale Coordinator Caitlin at 519-599-2136 or contact myself rickcrouch@propertycollingwood.com.

Beware of Short-Term Property Rental Bylaws

I recently read an online news article pertaining to short-term cottage rentals in Wasaga Beach which is worth passing on to my readers.  A spokesperson for the website www.atthecottage.com  feels a bylaw passed in 2003 but seldom enforced will affect cottage rentals and hence tourism in the popular beachfront community.  
The issue of short-term rentals is nothing new to the area as the Blue Mountains has been grappling with short-term condo and chalet rentals in close proximity to Blue Mountain Resorts and other area ski clubs for years.  Often, property buyers in the area place their condos and chalets in formal rental programs or list them with real estate brokerages in order to generate revenue to offset their ownership costs.  Many of these properties sit vacant for a good portion of the year any so this practice makes perfect sense.  As with anything however, a few bad actors can spoil the situation and all too often a rented chalet, cottage or condo becomes an out-of-hand party that causes havoc in an otherwise quiet neighbourhood.    What constitutes a "short-term" rental?  Typically the rental period is less than 30 consecutive days. More often than not, short-term rentals in the area are only for a week or a weekend with a family coming up to ski, golf or to simply enjoy the area as a whole.  Out-of-town and even local kids have been known to pool their resources in order to rent a property for the weekend in order to have a party which otherwise would not be allowed in their parent's homes. With texting and online social media, these parties can quickly swell in numbers with the rental property taking the brunt of it.  Upon visitng one of my condo listings a few years ago, I discovered it had been the scene of a bachelorette party the night before and the place was littered with amongst other party favours, plastic penis whistles. 
  Many condominium developments in the area frown on short-term rentals fearing they will compromise the use and enjoyment of adjoining units belonging to neighbours.  Subsequently the rental issue has been addressed in the condominium corporation's rules and regulations.  But what about neighbourhoods comprised of single family homes?  That's where the local municipalities have and continue to take issue with short-term rentals by passing bylaws prohibiting them. 
  For those thinking about purchasing a recreational property "anywhere" with the intent of renting it out either through a formal rental program  or even on their own, it's best you consult a REALTOR®
 in order to determine if there are any restrictions that could thwart your plans.  For addtional municipal informtion regarding short-term rentals in the Blue Mountains click here.