Monday, February 26, 2018

Sellers Were Asking: The Heart of Every Home...

The Heart of Every Home..

...everybody knows, is the kitchen.  In real estate, it's also considered one of 'The Money Rooms'... An attractive kitchen can indeed make your home more appealing to potential buyers. That doesn’t mean you need to spend a ton of time and money on a brand new kitchen before putting your house on the market. 

There are a few things you can do to spruce up a tired kitchen with a minimum of fuss and on a nominal budget.  Start with the ‘less is more’ philosophy. Clear your countertops. Store appliances inside cupboards. This will open the room, achieving a spacious, clean look and feel. 

Play with your cabinets a bit. If you have a small kitchen, create the illusion of space by removing some cabinet doors to expose shelving or replace the cupboard doors with glass fronts. A less radical approach is to simply paint cabinets a glossy white and walls a contrasting colour for a fresh, new look.  

Add some pizzazz with new pulls (brushed bronze hardware is currently in, but, you can find all sorts at your local hardware store). Install new faucets and a sink.  If the flooring needs help, consider investing in a change. Another popular idea is to replace the counter tops.

All of this seem daunting? Why not consider a staging consultation! It’s an easy way to strategically focus in on the key points to maximize your investment. If you're looking for some help, check out the e-concierge on our website for some recommended referrals!

Updated: Jan 2019

Friday, February 23, 2018

Sellers Were Asking: The Money Rooms

The Money Rooms!

Kitchens and baths are the rooms where considerable money is spent in updates.  In comparing similar homes, most buyers will look to those rooms to make a decision on which one to choose.  A home with a new kitchen and new back, could easily be work $25-50K more in a buyer's mind.

Obviously location still plays a key role as you cannot change the lot size or location of the log, but, you can make changes to the inside of your home.  So, at times, a buyer will choose the home with the most updates over a home with a better lot, but, less updates!

Perceived value is in the buyer's mind when it comes to the offer.  But, factors such as lifestyle and personal preference also play important roles as they may not have the time or the inclination to make all the changes necessary.... in their minds.  Sometimes, the buyer does not like the choices a seller makes in the updates.  So, when considering putting n a new kitchen, always choose a neutral palette to work with.  Bargain flooring or counters are often bargain pricing for a reason.

If you are going to spend money to upgrade, choose quality for the money rooms.  These are big decisions and if you buy cheap fixtures and cabinetry, it will show.  You don't need to buy top of the line, but, shop around and buy with a buyer's hat on and what their perception will be.  

To start, check online at MLS Listings to view homes on the market to see what current trends are.  You can also check with your Realtor to ask where you should spend your dollars wisely... for your home!  If we can help... give us a call!

If you're wondering what some of the trends are, visit our pinterest for ideas on... kitchens and bathrooms!

Tuesday, February 6, 2018

First stats of the year...

This Spring market has arrived in January and had most of us awaiting just what that would mean… unfortunately most of us are still asking ourselves the same question as, this has been slightly unusual as compared to years passed. 

In Burlington, we’ve seen an increase in listings, average sale price as well as a reduced number of days on market. The curve ball here is the number of units actually sold throughout the month is actually fewer than December with 105 in January and 116 total units sold in December 2017. We’e also seen a small decline in the sale to list price ratio, likely to small to read too much into but I think will speak to the overall feeling out there amongst Buyers and Sellers. With a few weeks now under our belt, all have been just a little different among the different areas and price points. For example, those few of you selling in Alton Village are smiling with very few days on market, under two weeks on average! While, Millcroft has seen a burst of listings (52 last month alone!) and, longer days on market with Buyers carefully weighing their options.

Turning to Hamilton… we’ve seen an opposite affect. With a better December than normal January seems to have levelled off with the average sale price dropping slightly due to an influx of listings jumping from 266 in December to 334 in January. Sellers did however, get close to asking with a 99% price to list ratio. Hamilton Centre has had fewer units sold than the month previous but, has seen a good return with an average sale to list at 101%. West end and into the east have also had a nice bump in the average sale price, about $30k more than late last year, now that we are in a new market.

Although hard to really speak to too much trend as we are just touching the surface of the busiest time of year, February may help us to make more heads or tails and really project what will come as we round out the Spring.