What the heck anyway is happening in the real estate market??

If you ask me what's happening in the market I would have to take a moment. Prices continue to inch up in the North Okanagan but numbers of properties selling are fewer. We still have a durst of listings and buyer frustration is high -- lots of pent up demand without a lot of inventory to chose from.


A new influence in our local market is government's flailing proposed new "Speculation" tax targeting certain areas including Kelowna and West Kelowna locally. This tax will not address speculation at all but will be a huge incentive for people owning recreational and/or second homes from other provinces to get out of BC. Whenever uncertainty enters the marketplace it seems to slow things down.

Also not helpful to rental inventory are proposed new rules favouring tenants -- my understanding is that for some changes 4 months notice to tenants is required. Many landlord/ladies I know are selling their rental units. Interesting that the intent to help tenants is only going to make things harder as it is perceived in BC that all consideration goes only to tenants and not to owners. Not the least of owner's worries is the fact that they cannot insure for willful damage...and it is very hard to evict problem tenants.

On a bright note -- we continue to love living in one of the most beautiful areas of the world! And, regardless of all the factors influencing our real estate market; you have to live somewhere!

If you have any questions about where you fit in the market - give me a shout! I'm always happy to steer you in the honestly best direction for your situation. 250-306-2384 will bring you right to me!

According to Beth: What the heck do you do anyway?

According to Beth: What the heck do you do anyway?: Hello my friends, Often I am surprised when someone says, “oh, I didn’t know you did that.” So, I decided to give you a look at what I ...

What the heck do you do anyway?

Hello my friends,

Often I am surprised when someone says, “oh, I didn’t know you did that.” So, I decided to give you a look at what I do in my role as your Realtor®.  It perhaps is too general to simply say I help you buy and sell homes.

Of course a few you will know – but some might surprise you!

When clients are selling:

1.  When clients are thinking of selling I often do a walkthrough of their home and property and point out what experience tells me would be good tweaks to optimize profit. These need not be big renos at all, but little things that are distracting to the home’s value.

2.  Current Market Evaluations are at no cost or obligation and give you a realistic idea of what your home can sell for. (The science part of my skill.)

3.  I strategize ideal timing to “launch” and make sure outstanding photos are ready and outstanding wording is ready too.

4.  I help clients understand their options on timing (i.e. you can set a possession time which gives you ample time to move.)

5.  Remaining pro-active on matters of pricing is key to your best return of profit. You’ll hear from me often!

6.  You will know in advance when you have showings – and following showings hear from me about how it went and what the prospective buyers thought of your home.

7.  We’ll work up a strategy together on handling short notice showings.

8.  In my role to see you get the most gain with the least pain I will be honest about any impediments to your sale or showings (i.e. stinky cat litter….stinky hockey bags…)

9.  I can help you relocate anywhere in the world by finding you a great Realtor® in another location.

10.              I have great contacts for everything from legal work to move out cleans to handyman jobs. These are professionals I’ve used and trust.

When clients are looking to buy a home:

1.  Meeting with buyers I ask questions beyond just “how many bedrooms?” When I understand what is important to you and your family I can use my experience and knowledge of the North Okanagan to help you target the ideal neighbourhood.

2.  I’ll set up an automatic e-mail for you once we’ve zeroed in on the best criteria. This means the when this property comes onto our “Matrix” system you will know right away!

3.  My ear is to the ground with respect to what might be available that is not currently listed. (i.e. “Pocket listings.”

4.  My experience is solid – whether working with multiple offers, negotiating with tough sellers or dealing with grumpy tenants.

5.  If there are pitfalls to the property I will let you know loud and clear. I will let you know if I see risk or problems even if you love the home.

6.  I will guide buyers step by step and anyone who has worked with me has heard these words: “there are no stupid questions.”

7.  I encourage buyers not to make rash decisions based on convenience. You are far better to be uncomfortable for a brief time than to invest in the wrong home simply because it was available.

8.  My approach is practical, yes, but I also look for that moment when I see love for a home on a buyer’s face! There is a match!

9.  I have a host of professionals I use to make sure you are safe and sound – from inspectors to lawyers to specialists.

10.              While keeping you safe….I will also give you a nudge if you become scared.

Stresses of a seller's market!!

In the midst of a seller's market in the Okanagan you need a great and seasoned tour guide. You really do. Traffic is crazy, directions and stress management are critical!

As a seller you should prepare for:

1. fast and furious activity -- due to little available inventory, there is considerable pent up demand.

2.  you still can't ask for pie in the sky pricing (even if the buyer is blind in love with your home, I assure you, the bank lending mortgage funds is not.)

3. multiple offers -- you need professional guidance on choosing timing to review offers, understanding what  a "bully" offer is, reviewing terms.

4. breathing -- there will be tight demands on time lines.

As a buyer you should prepare for:

1. frustration -- you will likely miss out on your first try or two to purchase due to competition, time frames, listings coming on the market with a buyer already in place.

2. listening -- it is easy to get caught up in the frenzy of a competition. Rely on your good Realtor to stay the voice of reason for value and understanding terms and time lines -- especially under pressure.

3. damn hot help -- you need a great realtor that knows how to prepare, present and perfect a competing offer if the property merits going into competition.

4. breathing -- there will be tight demands on time lines.

It is an exciting time to be in the market, but not a gentle time. There are many options available to sellers who don't want to have this kind of stress. The most important element of a sale isn't always price -- your peace of mind and personal life circumstances are worthy of priority. You can email me to consider these at bethmm@shaw.ca.

As a buyer you need to make sure you are working with a realtor that is not only great -- but available. If your realtor is one in a company based on volume sales, be careful that they have enough time to focus with you on finding a good home!

As a buyer, don't fall prey to discouragement. Your home is out there and you just have to keep in the process with your realtor to get it! Often when someone is horribly disappointed at losing out on a competition -- they are soon elated when an even better home comes along.

Stay strong of heart!! 

Really - you can't afford the most critical element of a great REALTOR®.

You really cannot afford the most critical element of a great REALTOR. It is not for sale, at any price. That most priceless element is trustworthiness. It is a priceless find, in any field, but most especially in the area where you likely will spend WAY more money than anywhere else.

When I speak with an auto service station I, of course, want a talented mechanic. I want to have any repair or improvement done that is legitimately in my jeep's (Ruby's) best interest. What I need, what I really, really need, is a trustworthy mechanic that will give me the honest goods -- whether it serves their best interest or not.

And, you're like me, right? You just want the truth from your professional.

If a furnace technician comes to my home, I want to hear about what is needed to keep my furnace happy and running for years to come. What I do not need is to be up-sold into a system I don't really need. And I certainly don't want someone to try to scare me into a decision not in my best interest.

When I go to my bank teller, I'd like to be honestly told what other services may be of help -- but not hear someone who has been instructed to sell me a product I don't need; or increase my credit limit when I don't use the current amount available even.

And vets. My goodness; how we need one who is sensible, clear, compassionate and understands money does factor in. Who else has felt shamed at their vet's office for not spending more money on testing or unnecessary shots or treatments? We just want the honest truth, don't we? Even if that is a hard truth. 

Next time I buy a horse (there will be a next time, right?) I really want the seller to be up front and honest with me. When I ask for steady Eddie I don't want "most of the time." It is, quite literally, my neck at stake.

I want my professional money manager to be forthright and clear about my options. It would break my heart if he sold me something because he got an extra bonus and not because he believed it would be of great benefit to my portfolio.

Is your lifetime REALTOR just as quick to tell you a home is not a good buy as they are to point out the benefits? Do they honestly run through your options with you even, and especially, if it means they will not profit from your decision? If so, keep close to that professional!

Words like transparency, ethics, integrity and honesty all fit under the banner of trustworthy. And, if your REALTOR is the real deal they would simply be unable to sleep or live with themselves if they put their paycheck ahead of your best interest. If you have the slightest doubt about any professional you're working with, run -- run out the door.

When you find a professional in any field -- but most especially in real estate -- that is trustworthy to the core AND great at what they do....well, that is gold, pure and simple. You will profit. They will profit. You will sleep. They will sleep.

Predicting 2017 Real Estate in North Okanagan

Happy New Year, my friends!

Here I go stepping out into speculation....surely if I had a perfect crystal ball I'd be a zillionairess, but I'll share the benefit of my educated opinion on what to expect of our market this year in the North Okanagan.

2016 saw great economic development in our area: a high rise going in downtown Vernon, glass plant being purchased and re-purposed in Coldstream, building permits soaring, expansion at Predator Ridge, the old Legion building downtown Vernon being purchased, several retirement community units going in at north end of Vernon.....the list goes on.

Traffic in Kelowna -- for us more country loving folks -- is becoming too thick for comfort and Lake Country is going gangbusters so there is a natural push toward the North Okanagan where wildness and small town living still feels like an option.

Based on evidence and based on non-evidence I predict a solid year in real estate. I think prices will continue their gradual rise, vacancy rates will stay very low (encouraging rental housing investment), new building will continue apace and we'll see more "fix and flips" this year.

People who purchased in the 07 frenzy can now recoup their investment and more. 

I expect to see lakefront pricing getting higher and some more luxury homes going in on lake front and lake view lots. Given our fortune in having Okanagan, Kalamalka, Swan and many smaller lakes in the North Okanagan....well, this is a complete draw in it's own right!

And the Okanagan Rail Trail is happening! This is going to bring an uptick in tourism (already at record highs with our great Silver Star and world class golf and lake lifestyle.) More people will see; and inevitably fall in love with our most amazing area.

If you're looking for economy......greatest rental buy right now in my opinion is in the Mountainview Apartments if you're looking for a rental. The entire building inside and out has been renovated and strata is doing a superb job at keeping costs low and lifestyle appreciated. (Full disclosure, I have a rental unit in there.) This building was getting a bit shop worn but is now a gem with easy walking to all amenities. Prices are soft in there and I expect them to rise significantly over the next year.

Best lot value is The Rise with many view lots at bargain prices. The new golf course owners seem to be going full steam ahead on a new club house and the owner/investors have built out "The Bellagio" so hammers are swinging. This was another development that got caught in the 08 economic downturn and 1st developer woes. I expect over the next few years this property will get its groove back.

Single family housing gets less expensive both in the inner city and also the further out you go. I'd love to see more residential downtown -- lofts above businesses and the like!

Whitevale is one area that is often overlooked -- the back road between Lavington and Lumby. It is a beautiful valley with affordable housing options.

That's it for now!! Enjoy home. There really is no place like it.

The big distraction in real estate sales

Yesterday a woman called our Sutton office and her call was put through to me. Now, this might have been a competition bureau call where they pretend to be a possible client. Regardless, the question she asked was what our office charged for commission. She was commission shopping; the biggest distraction affecting our profession right now. My answer went something like this:

I believe the better question for you is this, "what is the most effective way to get my home sold for the most money with the least stress?" And, while on a roll, I mentioned that the biggest distraction in our area is wondering who's cheapest or who is making what. Trust me, if my financial planner is making me money, I hope he is also profiting from the experience. He doesn't need to discount his services -- I'm glad to pay and happy for his professional skill that is guiding my humble nest egg in trying times.

If a professional delivers spectacular results and nets you a great price for your home -- all the while giving you the utmost service and communication. Do you really care what they make? Since when did we reward cheapness? Are we all doomed to worship at the shrine of the Walmart models of business?

Why do we allow ourselves to become distracted by the shiny prospect of paying as little as possible for professional services? Do you choose a dentist, lawyer, electrician, handyman or any other valued specialist based on how little they charge? Or do you rather choose based on the value of their service, the long lasting benefits and better result?

If a race to the bottom of attempted to get a cheap service instead of a great service continues the end result is going to be very costly.

Selling your home isn't like putting your used civic car on kijiji......it is likely the largest asset you have. So, here is my suggestion when looking for a Realtor that will, in the end, make YOU the most money.

1. look around and get as many recommendations as possible about the skill set and approach of the Realtor

2. look at and meet with a few Realtors (with an ear to hear more than how little they get paid.)

3. look for a full time Realtor -- with their head fully in the profession.

4. look for a Realtor well respected by their colleagues (as in, their colleagues LOVE showing their listings)

5. look for a Realtor who advises wisely (even if not the popular or easy route)

6. look for a Realtor who is invested in the community and gives of their money, time and talents to make YOUR community a better place to live.

7. look for a Realtor who is a skilled negotiator (hint....if they can't negotiate a good compensation for their own skills -- do you think they'll be the best at negotiation the highest price for your home?)

8. look for a Realtor who is true to their word -- they say what they mean, mean what they say. This person is going to call you when promised and communicate as promised.

9. look for a Realtor who is a resource before, during and after the sale -- not just a one hit wonder sales person out for the quick cheque.

10.  look for a Realtor who will not string you along (taking your listing at a price they know it won't sell for and then badgering you for price reductions. We call that "buying the listing.")

I could go on....but you get my point. Choose wisely, you owe it to yourself to focus on value and net results not in the distraction of trying to pay as little as possible for professional services.

Creative Marketing -- not 1 size fits all.

Marketing is most certainly not one size fits all. Each property requires imagination and creativity to position it to stand out in the array of competitors. A great Realtor considers carefully the target audience and determines where the best exposure will be. And pictures? Of course, but pictures that showcase the home and grounds in artistic ways -- not "just the facts" photos -- or even worse those horrid ones you see with laundry and clutter included!

Does your property fit into a niche publication? Does your marketer understand what you loved about it? Is the marketing changed up if not effective?

Why I like to be very hands on with my listings is so that I become familiar with the property, its assets and atmosphere. All of the prep work about researching, measuring, downloading and perfecting the launch of a new listing is part of my process to come out so robustly and completely with your home that it stands out beautifully.

How a home is described and captured in words is every bit as important as how lovely the pictures are. Overused phrases and tired descriptions put would be buyers to sleep and they click over to the next property.

The marketers making a big splash might be primarily making a big splash about themselves -- and not about you and your property! There is a huge difference between marketing a property and "image advertising" which is essentially bragging.

You should not be so interested in how many sales notches the sales person claims but rather in how effective they are in getting the job done. Better yet, how effective are they in getting YOUR job done and how effective are they in keeping you as stress free as possible.

All Realtors are not created equal....chose carefully and not on the basis of trumpets and fanfare about them!

Call me. We'll talk....

You have to live somewhere.

Here's the thing. You have to live somewhere. Even IF the market were to soften 10,000 or 15,000 for that home you'd really like in a year you have to consider some things.

1. Unless you've moved in with relatives or friends chances are you've spent more than that on rent in a year. (Not to mention possible pain and suffering of cramming in with relatives -- theirs and yours! What is that cost?).

2. In our area with average days on market before selling around the 100 day mark, the home you love is no longer available.

3. While you're waiting for a better time to buy, prices could rise instead of fall.

4.  While you're waiting for a better time to buy, interest rates could creep up, meaning you will end up spending more than you might be saving.

5.  While you're waiting for a better time to buy you might have to put off getting the pet your want, or having the child you want (if renting in strata properties with age/pet restrictions).

6. While you're waiting for a better time to buy you may switch jobs, making securing financing harder -- especially if switching to self employment.

7.  While you're waiting for a better time to buy you can't paint the colours you want or build the deck you want or hang the light fixtures you want.

8.  While you're waiting for a better time to buy you might have to pay for a storage locker for all your toys and miscellaneous items that don't fit into your rental or shared dwelling.

9. While you're waiting for a better time to buy you might be putting off hosting dinners or parties because you're not "settled."

10. While you're waiting for a better time to buy you could be putting the life you want on hold -- all to save some money -- in theory....in fact it may well cost you more.

11. As I write this one of my colleagues, Debbie, told me a story. She asked her buyer if the home was 15,000 less would he offer today? When he said yes, she said, "OK, then let's do it!" And, they wrote the offer for 15,000 under list and got the house!

Some of you have heard me say, there is never the perfect time to have a baby, get a dog or move. But you do have to live your life! And you do have to live somewhere!

Why list in the winter?

Those that know me have heard me say a great time to list is in the middle of winter. While this seems counter-intuitive (most people are listing and buying when the spring flowers are blooming) there is good reason. Simply put, that reason is supply and demand.

Currently I have several sets of buyers with nothing to show them that is of interest. December has seen many buyers in the Okanagan and precious little inventory. So many will list or re-list in the spring and completely miss qualified winter buyers. The demand is far greater than the supply.

You always want to stand out -- and you sure will if you come on when others are going off the market!

So, do call me for a market evaluation and we can see where you stack up in our marketplace. Another good thought if you are listing in the winter -- dig out those spring pictures. We'll put all season photos on line so that even if your land is covered in two feet of snow right now, buyers can see what it looks like in full bloom.

There is no "bad" time to sell. Granted it can be a chore keeping access and driveways clear and safe in the winter -- but it could be to your great financial advantage to make the effort.

If everyone floods the market in spring, suddenly there is more supply than demand and that will affect pricing.

Be different. Be bold.

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!

The high cost of ticking people off!

"I would not sell to that idiot if they were the last person on earth!"
"That Realtor is never allowed on my property again."
"The price just went up."
"They can't have the appliances now."
"I'll just sell everything I was going to leave for them."


These are statements Realtors have heard!  And, do you think it takes a big insult to produce such rancor?

Be very, very, very careful about nitpicking, criticizing and getting petty about inclusions....the cost could be extraordinary!


I was speaking with a very seasoned real estate professional who was representing the sale of a family vacation spot.  Even though the offer was ok price wise, the tone and ridiculous notations included in the contract got her ticked off.  She said that even as a pro there was no way she wanted to deal with these pushy, obnoxious buyers!


I've seen generous sellers who would have bent over backwards for the new owners lose heart over wording to do with the home being left clean.


Keep these two words in mind when entering into negotiations:  deal earnestly and deal in good faith (i.e. you proceed as if the seller was a fine and honest home owner.)  If you introduce words and clauses indicating mistrust (and I don't mean obvious due diligence) you start to insult them.  A price that is too low will insult a seller; and so will little greedy asks or fearful questioning of someone's integrity.


Contracts are developed and designed to keep a buyer safe and are full of great due diligence options.  When snags are encountered, if there is good rapport and faith between parties, an elegant solution can always be reached.


If parties have their backs up, the smallest variant can derail an otherwise fine transaction.
Whenever possible, keep it simple, keep it sweet and use a smart negotiator -- not a bombastic dipstick!  Remember that two things kill a great real estate transaction;  greed and  fear. 

Be polite to knobs; it'll drive them crazy!

I was going to call this blog, "Did you let them get your goat?"  But there's something delightful and descriptive about the word "knobs!"  As an aside, did you know that the expression "got your goat" is a term from thoroughbred horse racing.  Some very high strung running horses are calmed down by a stall mate -- a goat.  The goat keeps the horse grounded.  So, if a scoundrel wanted to throw a horse race, they would steal the race horse's goat!  The horse would stress so much, it would not run well.  But I digress.  Sort of.  



Let's face it, it is not uncommon in any field of endeavour to run across those bullies or blowhards who raise unpleasantness to an art form.  They are usually well known.  And, it is delightful to plot all sorts of witty and caustic responses to their blather.  And, let's not even delve too far into the tragically flawed and rude drivers on the road and what we plot for them!


In my work as a professional REALTOR, my latest challenge is to be unchanged by ill mannered people.  It is deeply satisfying to stay professional and polite to someone who is anything but!  Why?  Well, you keep control of your own heart and mind and you don't let someone else have the power to ruin your day.  (Or get your goat!)  Nothing is so deflating to a blowhard than to have their poor behavior ignored and disregarded.  Nothing catches someone like that as off guard as someone who is so secure in themselves they can't be rattled into acting badly and dropping to the level of insults or slights. 




Very rarely for me (and for this I am thankful....and it helps that I'm selective about taking on clients) a client, under stress, will behave badly toward me.  It is tempting I confess to plot a reduced level of follow through service and nix the generous gift giving.  However, the one being hurt by that would be me.  It is far richer to treat someone who has been rude with the same professional courtesy and follow up I afford all my clients.  (This is not to say I'd take them on again; that would be dumb!)


Indeed, it is not a wimpy response, but a very strong and deliberate one to stay in fine character.  And, if you're like me, you have trusted friends and colleagues that you can get your rant out with so you do have an outlet for your creative retorts!


You know my best test for success in not letting someone get my goat?  Forgetting their name!!  Forgetting the details of the transaction and not having one tiny speck of emotion tied up in them.


So...I repeat...be polite to knobs; it will drive them crazy! 

What you want to hear likely isn't what you need to hear.

At Rotary today a Realtor joke was told;  "A Realtor will always sell you a two story home.  One story before you buy the home and another story after!"  Ouch!


Did you know though that most of the best and talented Realtors are not the ones you hear about the most or see the most signs with their name on.  And one reason is this.  A Realtor interested in volume listing is clever enough to tell the seller what they want to hear.  Likely that has to do with how valuable their home is and how much it will sell for.

An excellent Realtor, however, will not be as popular.  Why?  Because they are the ones that instead give sobering and realistic counsel and who calculate pricing on known sales and knowledge of the market in the local area.  Of course one would hope they're also charming and tactful!


A Realtor just wanting to butter up the client to get the listing will have nothing but nice things to say about the property and the state of it.  A Realtor interested in getting the job done and really getting the most money for the home will have candid comments about drawbacks and make recommendations on small fixes that could net large rewards.


A person just wanting the listing will agree that it was the fault of the 5 previous Realtors that the property never sold.  A professional will be rather more frank and inform the client that (especially knowing there are many fine pros that might have been already involved) the problem was not with the previous Realtor but rather with either the product or the pricing.


What you want to hear when selling your home, or buying a home, is not necessarily what you need to hear.


You may want your Realtor to agree with you that the property you've fallen in love with is perfect.  You may NEED to hear, however, that there are significant issues to consider before launching ahead with an offer.


You may want your Realtor to write up an offer just because you've told them to.  You may NEED for them to tell you that you are under duress and that they want you to sleep on it and consult your family.


You may want your Realtor to factor in all the advise you've garnered from neighbours, friends and relatives about the price your home should sell for.  You may NEED your Realtor to rely instead on their professional comparables!


Don't be sold a two story home.  Forget the flash and go for the substance when picking the next professional you entrust with your greatest financial asset. 

Why I can't just "ballpark it!"

As a professional Realtor, it is not uncommon to be asked to put a value on a home sight unseen.  "Just a ballpark."  There are two reasons why I can't comment, the first a bit more obscure, anytime a professional opens their mouth with a comment related to the industry they can be on the hook for "implied agency."  In other words, professionals can be held accountable for something they said casually and in passing!  "My Realtor told me....."


The biggest reason, of course, is that rarely are two homes alike and value can be affected by SO many factors to do with design, maintenance, repairs, renovations, additions, landscaping, etc., etc.  This is why before giving any idea of value I must insist on touring the home and seeing it in context in the neighbourhood.


Sometimes people will say, "but you've been in my home -- you came over for dinner."  Please know that when not in work mode, I am not sizing up your home!  I'm just enjoying it and your company!


Builders sometimes too are asked price per square foot....and they often sound cagey when hedging their bets!  But the same thing applies -- price per square foot depends on MANY factors of finishing and location!


Rarely, but it happens, someone will say something like, "my neighbours are selling privately to avoid Realtor fees, could you tell me what to offer?"  See paragraphs 1 & 2!  One of my colleagues likened that to someone saying, "I want to lay my own floor so I don't have to pay an installer.  You're an installer, could you come teach me how to do it?"


It always pays to pay a professional!  Words to live by.


And, if someone will throw out ballpark figures....they ain't a professional!