Only your heart can lead you home.

Logic is not king when it comes to picking a home. While we as REALTORS do take into account the "list" of what buyers are looking for; a great REALTOR understands that immediate "connect" that can happen between buyers and a home that may have little to do with their logical list.

All the information in the world; all the stats, reports, investment acumen, photos, videos, pie charts and descriptions will never, ever replace the simple feeling of being in a home that feels like home. Most buyers know immediately, before even seeing the whole house, that this is their home. This is the ONE.

When you've noticed this reaction enough you recognized the signs....deeper breathing, smiling, imagining where furniture will go. And, this is likely in a home that only satisfies half of the want list. But there's something....hmmm....we have to switch to that great french phrase.

je ne sais quoi: An intangible quality that makes something distinctive or attractive.

Some predict virtual realtors selling homes sight unseen via video sites in the future. Hogwash. If home buying were logical that might work. But home buying is not logical.

Home buying is guided by a host of invisible influences that aren't even necessarily conscious. Maybe that tree in the yard brings to mind your favourite summer at Aunt Betty's. The smell in the air reminds you of something....you're not sure what. Oh, that breakfast bench reminds you of your sister. Until you are immersed in the home, the neighbourhood, the flavour, you simply can't know if its the ONE.

Once your REALTOR gets to know you, they may well take you to places not fitting your list. Not to more expensive places, but places you think you don't want -- but they suspect you might love.

Enjoy the adventure and don't be confined to looking only at what you think you want. And, most importantly, once you've found the ONE for goodness sake, don't talk yourself out of it because it doesn't fit your logic!

Home is sanctuary and  solace. Only your heart can find your home.

Bubble Bubble Toil and Trouble

You know who I feel sorry for?  The poor dopes who've been waiting for the mainstream media to tell them its a good time to buy a home.

Here in the Okanagan I was cautioned not to buy in 2003 because prices were going to fall.  Guess what?  I bought anyway and my property had almost tripled in value by 2007.  True that it fell off some in 2008/2009 but now it's back at about 2007 values.  I'm sure glad I didn't listen, because at today's values I couldn't afford the home I have.

I've been a REALTOR for well over a decade now in the Okanagan and if I had a nickel for every time I hear the "B" word (bubble) I'd be rich.  YES prices are high in Vancouver and Toronto.  NO the entire Canadian market is not there.  And, pity the poor dope who didn't buy in Vancouver 10 years ago because it was all going to fall.

There will always be fluctuations in real estate values.  But do you know anyone who has owned property for more than 10 years who is sorry?

And....news flash.  You have to live somewhere!  You can either be paying off your own mortgage or paying off someone else's.

Let's say you waited the 10 years for prices to drop locally and you were looking then, in 2005, at a 300,000 home.  They would have already dropped below and risen above that rate in that time.  Meanwhile, lets say you paid a modest rent of 1,000 month.  Now you've paid down someone else's mortgage in 10 years by a whopping 120,000!

Next time someone says "Bubble" you should say "Snap" and get going on your own home ownership.

Renting is a short play.  If you're looking to build long term equity don't watch the news, talk to a great Realtor!

Do it yourself? REALLY?

This morning as I looked at my reflection the thought occurred to me that it was time to cut my bangs.  Yes, you've imagined correctly, when I do it myself it does look like someone used nail scissors to create abstract art.  Yes, my incredible hair stylist always winces and reminds me that part of her service is between cut bang trims.


What, you ask, does this have to do with real estate.  Well....since you've asked.  What I have never done to my hair stylist is to go in and have this conversation.  "I want to save money by cutting and styling my own hair.  I've looked at sites on the internet and bought good scissors on e-bay.  What I need is for you to tell me everything you know, encapsulated, from your 30 years of full time hair styling, so that I can do everything you do myself."


Likewise, I've never had an electrician into my home, made him coffee, and then ask him to give me detail of how to rewire my own home so I could do it myself.


I've never asked my accountant to come over, free of charge, and prepare a detailed report on my finances so that I could avoid using him and do my own taxes and g.s.t.


You're smart....you see where I'm going with this.  If you want to sell your own home, or purchase your own home without the services of a professional, that is fine.  It has always been a fully legal option for you.  You have no need to worry about paying a professional.  And, like a defendant who decides to be his own lawyer, you'll have a fool for a client. (Did I say that out loud?)


But...(you knew there was a but), do you really think its okay to solicit professional help and advice and strategy -- all unpaid -- to help you eliminate the very person helping you?  Why would anyone think that's okay for the real estate profession?  Why would any REALTOR participate?  I've actually read on a local For Sale By Owner real estate web sites that the best way to go forward is to have a REALTOR in (obviously under false pretenses) and get pricing and marketing ideas from them.  Thank you so much. 


Before becoming a REALTOR I have bought and sold our own homes.  I shudder to think now what I missed and thank my lucky stars the very real issues I never even thought of didn't come back to bite us.  (You know, little things like not asking for a septic system to be pumped.)  Anyway, we really were lucky.  And maybe you'll get lucky too.


Don't be the person though who uses the services of a great professional (one, who doesn't get paid until they've found you a solution) and then fall off the map.  And then, maybe, buy them a plant and thank them when you tell them you bought a FSBO.  REALTORS deal all the time with representing clients in private sales AND we negotiate our own commission with the sellers AND we keep you safe in the process.


Don't be the person who trades on the knowledge of your friend and put them in the awkward position of saving your hide and walking you through the whole process for a case of beer.  Professionally you put that REALTOR in a very tricky situation.  There's this little thing called "implied agency" that results in law suits.  Imagine how ridiculous it would be for a REALTOR to get sued by reason of offering advice at a coffee party.  Yes, of course it's happened.  Yes, of course it's stupid.


If you want to do it yourself, do it yourself.  Enough said.

Sweet domino effect

A few months ago I was asked to come to a town home by the son of the elderly owner, his sweet mom.  I'd been there a year before, having been recommended to the son by a trusted Rotary connection.  Previously it was clear that the dear woman who owned the place was not ready yet to make a move -- and there was a lot of "stuff" to clear out.  So, I made suggestions about how to ready the home for sale and kept in touch.


When I returned this time, it was all systems go.  The woman was moving to a place closer to her son that also provided meals and transportation.


Shortly after listing I met a fine local couple who were ready to downsize from their family home.  The time had come for them to do less yard work, shoveling and home maintenance.  So, the idea of a small strata community suited them perfectly.  They bought the town home. 


In reviewing their family home, I advised them not to start any upgrades but rather to sell it in its current condition -- very clean but dated.  This would allow first time home buyers a chance to get into our market.  Given the family neighbourhood, access to schools and parks and great view I rather suspected a young family would jump at this if the price was affordable.


The couple listed their home with me at a reasonable price and within a week we had an offer and a back up offer.  The home sold higher than list price due to competing offers.  A young couple with a dog moved in and are loving the neighbourhood and the big fenced yard with fruit trees.  They are in heaven, the dog is in heaven and the neighbourhood is enjoying them.


I've heard this week from the first seller -- she is love, love, loving her new carefree lifestyle!  She calls it "hotel living."  The couple who bought the town home are loving it and loving that when we recently got walloped with a huge snowstorm they have very little impact....just a wee driveway to shovel.  All the "heavy lifting" of snow removal was done by a company included in their strata fees. 


In short, moving when the time is right results in great joy; not just for the person moving, but for the sweet domino effect it puts into motion.


When the time is right for you, call me.  You need a trusted Realtor to guide you through the right steps to achieve the maximum return on your investment and the sweetest process along the way.


Most people I've helped to simplify or downsize remark that they wish they had done it 5 years ago!  So don't delay....you've earned a carefree slice!

Appraisal vs Assessment vs Market Evaluation

Not surprisingly it is confusing to homeowners to hear about different ways to determine what their home is worth.  This will help.  In a nutshell:


1.  Appraisal.  An appraisal is done by a professional appraiser often appointed by lawyers and/or banks.  Appraisers do rely on real estate information and keep a close relationship with Realtors.  They base their findings on different formulas to come up with a value on the home based on comparable past sales, land size, square footage, home condition, etc..  In divorces, estates, inheritances, mortgage lending and other legal discussions this is the route often needed.  If you are refinancing, for instance, the bank may certainly want your holdings appraised by a real, live professional going into your home, using hard data.


2.  Assessment.  This is the amount you are taxed on as a home owner.  This information is not a reliable gauge of home value.  For one thing, the sales information assessments are based on is sometimes 2 years out of date.  More importantly, rarely does this involve anyone actually being in your home.  You might have fixed your home up as a state of the art Taj Mahal  and receive a low assessment based on averages for your home square footage.  Do not be alarmed or excited about your assessment as it pertains to market value.


3.  Market Evaluation.  This is done by a professional Realtor and is perhaps the most useful for a real value discussion.  A Realtor uses not just past sales, but their awareness of neighbourhoods, available inventory, market trends and a host of factors influencing the local market.  i.e. Now some consideration to a challenged Alberta economy would impact Okanagan values.


So, when you want to know what fair market value is for your home, call a trusted Realtor.  When you need a legal document for court proceedings, call a LOCAL appraiser.  Don't sweat your assessment, if you think its out of line, you can appeal....but in most cases it is undervalue and you may wish to buffer your tax burden by accepting a lower value on paper.

Dangers of Real Estate T.V.

Call it a busman's holiday, but I enjoy watching real estate shows on t.v.  To a point.  They also worry me because, while you can pick up some good ideas on renovating and how real estate works, you can also be misled.  A couple examples:


Putting in or receiving an offer on a home does not make it sold!  (Except in the VERY, VERY rare instances of a subject free offer.)  So, when the cute guy comes along and based on a verbal acceptance of a buyer's offer price, asks who wants to put the sold sign up -- well, that's just phoey.  (You understand "phoey" is a polite term for something you don't want to step in.)


Ditto the drama encouraged in those shows about the way clients speak to their Realtor or renovator.  Again, except in VERY, VERY rare circumstances where it might be justified, it's also just phoey.


I can tell you truly Realtors understand much of what we do involves working with people under stressful conditions.  This does not mean most would carry on with an abusive client.  No way, no how.


Also, no Realtor in their right mind would show a client a home 300,000 above their spending limit as a reality check.  Are you kidding me?  "Let me show you something you can't get, so you will hate everything you can afford."  I don't think so.


Another reality check.  Renovators are VERY, VERY rarely designers!  You're going to be lucky to have all the sawdust and gyp rock dust gone.  Don't expect that you're going to come home to a staged, designer produced "reveal."


So, enjoy the shows, enjoy the homes....but understand these shows are designed as entertainment not documentaries!