Blog - Page 11 of 19 - Martin Elder Homes Sales

How to Choose a House to Buy?

As you’re probably aware, there is more to the cost of owning a property than the mortgage payment. There are a myriad of other expenses that can impact the affordability of a home. Say, for example, you find a home on the market that you like. However, you discover that you and your family will need to commute much farther to work and school. That will add to your monthly expenses. You should factor in those costs before deciding to make an offer.

On the other hand, you might find a home that is in a great state of repair. The roof is new. The furnace is new. There are no obvious maintenance issues. The efficiency benefits will save you money and you’ll also benefit from knowing you don’t need to anticipate major capital expenses. That will be especially important during your first few years in the home. You should definitely factor in those savings when evaluating a home. A property on the market that costs you a bit more today may actually be more affordable over the longer term when you consider anticipated expenses. A good REALTOR® can give you a clear picture of the cost of ownership for any property you’re considering. When you choose a house to buy, do a cost analysis of the features and location.

choosing a house

A New Thing in Wellington Village Supports Higher Neighbourhood Values!

Attractive Restaurants and Cafes add significantly to the popularity of living in the Westboro, Hintonberg neighbourhoods. Many people who live outside the Richmond road Wellington corridor are willing to pay more for homes located within walking distance of the services and this is the attraction the supports the higher neighbourhood values. Some people call it the Walking Score. The more services and attractions found within a kilometre circumference the higher the score. So you might imagine that if you could walk to the Ottawa River, a bakery, coffee shops, a library, a bank, a hardware store, a grocery store and a florist then if follows that the community would be attractive to a large demographic population. One of my recent discoveries it A Thing for Chocolate.

A Thing for Chocolate is a surprising new eatery in the Wellington Village. Despite the name which brings to mind sweet deserts, there are also delightful savory lunch offerings like my favourite homemade crepe cordon blue, or the weekly special; Goat cheese, prosciutto and asparagus in a buckwheat flower crepe. So simple yet exotic and it is Gluten Free! The crepes are presented in a folded manner that is perfect for a well garnished plate. Omar makes all the ingredients. I recently visited the shop and saw him roasting hazelnuts to be ground for his delicious hazelnut mousse. So good! Of course there are chocolates, scones , and mille feuille pastries garnished with chocolate to admire.

I’m pictured beside Omar Fares, the Chef of this simple and delicious fare at A Thing For Chocolate. Omar, his wife Moni and four children recently immigrated to Canada bringing with them classic French training. Omar pays tribute to Paris with the celebrated the Eiffel Tower theme on the walls, plates and cups. Thoughtful phrasings are posted on walls to make your visit engaging. Thursday evenings, musicians take the floor and offer acoustic music. A Thing for Chocolate is a hidden delight!

Martin

A Thing for Chocolate

1262 Wellington West

613-695-3533

A Thing for Chocolate Westboro Village

Chattels cause problems in a Real Estate Transfer

Frequently, the inclusion of Chattels in an Agreement of Purchase and Sale will cause tension in a real estate transaction. See below further Consideration. Buyers visit a home they like and they often want more than what “goes with the house.” I’ve heard them say; I love it ! I want the house and everything in it! The trend to stage a house or condo adds to the dilemma because the furnishings are perfect but are owned by the staging company and not the Seller.

So what is a chattel and what is a fixture? Typically, chattels include movable items in a house such as stoves, fridges, washers and dryers but sometimes may include furniture or exterior lawn ornaments. Fixtures are fixed or attached permanently to the walls or ceiling with screws, nails, copper pipe or wire. A toilet is a fixture, a mirror and work bench may be a fixture. But what about a kitchen island that can slide on the floor to different positions, or a shelving unit that is screwed to the wall for safety reasons? When there is an important ambiguity the exclusions should be prominently displayed in a listing so that it is clear what is included in the sale.

I try to point out to Sellers in advance what may be included in an offer to purchase so that they have the opportunity to replace a fixture with strong emotional meaning. The dining room chandelier is often contentious. Imagine an expensive art deco light fixture the seller want to take with them. Unless it is specifically excluded the Buyer will expect it to be hanging in the dining room on closing day. One option the Seller should consider is the replacement of the light with something less valuable but attractive before the property is put up for sale and photographs are taken. That way the Buyer will not be distracted in the offer to purchase.

I try to remind Buyers and Sellers that traditional chattels like stoves and fridges are simply used appliances. Becoming emotionally involved may put the whole transaction at risk. Remember, their useful life is unpredictable and they may break down the day of closing or the day before! Who pays the expensive repair bill, the Buyer or Seller?

When dealing in real estate, listen to your agent and keep it in perspective.

Further consideration:

Imagine the consequences of a sump pump that is owned by a neighbour and left as a favour on site. Shortly after closing day there was flooding in the basement because the pump was returned to the neighbour. The pump was a chattel and not included in the sale. The Buyer sued the Seller for damages and removal of the pump.

A condo was sold with appliances included with an agreement that all appliances be in good working condition on closing. One week after closing the Buyer discovered the Fridge was not working well and sued the Seller and the agents for a replacement fridge.

chattels

Marketing – The Age of Persuasion

Marketing is powerful and works on many levels. I’m sure you’ve heard CBC Under the Influence with Terry O’Reilly. He calls it the age of persuasion. Advertising pushes people who have made up their minds and it pushes people who have not. It even pushes people who want to visit open houses to visit them when one is not planned. Human nature is fascinating!

Recall the scowl on Churchill’s face when Joseph Karsh took the cigar from him and then snapped his famous photo. People don’t like to have what they own taken from them and this is the power of the open market. There is always the possibility someone else might want to launch an offer before I submit and offer. It provokes fear of loss.

An open house is a valuable tool to attract people and to persuade those who have already visited to hurry and make an offer. That is human nature. There is nothing about an open houses that suggests perpetual or desperation. I’d say it suggests: we are on the market and for sale. The seller is serious. Make an offer, Hurry! An open House is the most effective way to market and sell a house.

I believe you want as many people as possible to casually walk into your house and be surprised at the good value. They tell their friends. You want to create a feeling of celebration and timeliness just like the auction format.

marketing ottawa Real Estate

Three ways to choose a Real Estate Agent and One Word of Warning!

Three ways to choose a Real Estate Agent and One Word of Warning.

1. Choose an agent in Ottawa who looks professional in every way. This includes grooming, clothing and shoe apparel. Consider the appearance of their car. It’s not that I promote judging a book by the cover, no, it ‘s more a matter of detail. Nice clothing and good grooming are not indicators of knowledge, experience or powerful negotiating skills. No, but managing detail is a major part of a real estate transaction and most agents handle several clients at various stages of buying and selling. So managing the paperwork, appointment’s and timelines are extremely important for a stress free transactions. You want your agent to be available in a timely manner. So managing the least obvious detail like shiny shoes and a clean car may be an indicator of competent management skills. They are organized and engaged.

2. Choose an agent who has experience buying or selling in the market that interests you. There are so many specialized real estate markets; Residential, Residential luxury, Condo, Condo High-rise, Waterfront, Building lot, Development, Commercial Purchase or Lease, Rental, Investment, International Investment to name a few. Some agents have multiple specialties. Talk with them and share your knowledge and ask questions. Do they have answers or do they just talk and talk? Will they research information to help you make choice? Do they actively listen and hear what motivates your search?

3. Choose and agent who shows experience in life; shows maturity. This can mean they have accomplished many things prior to becoming an agent. They have advanced education or exceptional life skills. They understand the cycles of life and see a panorama of consequence unfolding when a buyer or seller prepare to make a choice. This sounds a little fortune teller like, but in my experience it’s not far from the truth! You want someone who advocates for you, and at the same time is engaged in promoting your interest not their own interest. It may be a business transaction for the agent but the outcome affects the client for life.

Word of Warning: Advertising is a powerful tool. It is called top of mind in the marketing lingo and flyers, bench signs, lawn signs and TV shows are great at promoting an ego, an agent or company. What is more important to you is how you interact together. You need to feel they are loyal and trustworthy. Having a sense of humour is also top of the list!

advice choosing real estate agent warnings

Spring Real Estate Market will soon be Here. Get ready!

With regularity I mark the calendar, saying to all concerned when leaves emerge on the trees and the grass turns lime green, Buyers and Sellers come to life and burst into action for the spring real estate market.

Buyers want new homes. Sellers want new homes or condos too. More expensive, bigger homes and smaller downsizing homes. It’s like overdrive. I review the reasons for selling. I work extended hours establish a market price that will cause your house to sell. Help people stage their home and take engaging photos of the interior to attract the Buyer’s eye.

I’ll have one additional task this year; I’ll help Sellers market their waterfront propertyusing a pontoon equipped airplane. That’s right, land on the lake and begin the process of listing the cottage vacation home. I complement the listing with aerial photographs of course.

Don’t wait. Call now for a personal consultation!

ottawa real estate agents real estate sales spring fever

5 Serious Mistakes Made by Home Buyers.

1. Want to do it on their own.

Open houses are a great way to begin a new home search but after a while it becomes distracting visiting houses with other visitors wandering about, talking; cluttered boots and wet floors at the entry way. The agent on duty may greet you but what they really want is to go home and avoid the probing questions. Some people are never happy with the answer; always sceptical. Work with a trusted agent.

2. Don’t consider the big picture in financing.

Home financing is a big deal! Without clarity a house search is a waste of time. Approval, Pre-approval, Deposits, Down Payment, RRSP Withdrawal, 32% or 42% Lending Factor, Discount Interest Rates or Published, Bank or Mortgage Broker, Term or Amortization period, Insured or not, CMHC Mortgage Insurance, Gifts, PLC, Repayment Privilege, Accelerated Payments, Credit Rating, Equifax, Tax Assessments, Mortgage Insurance, Cash Flow. If you default on Purchase Agreement… now what? House Poor or comfortable? Power of sale? KK Need I say more? Ask a real estate agent for advice.

3. Shop for housing like they browse eBay.

The internet is a empowering tool to help buyers see most of the inventory of homes, building lots and commercial listings for sale. With the click of the mouse internets sites update, select by price, style and features desired. Consider the act of choice; every mouse click includes and excludes choice homes. Not a simple as it at first appears. Perhaps the philosophic thought applies… When the student is ready the teacher appears. When the buyer is ready the house appears. Or does it? Now what? What is value vs. price? What are past sales in the neighbourhood? Write an offer on a napkin and send to whom? You could ask a friend for help or trust mom and dad for their thoughts. Wouldn’t it be easier to ask a real estate agent for guidance right from the beginning? They are your personal guide to a successful purchase.

4. Offer too low and expect too much.

It is common to think that the process of buying is to offer low and negotiate to middle ground. Remember the seller has done their home work and knows market conditions affecting their house. Of course they have an experienced real estate agent guiding them all the way from market conditions to expected sale price. They have reviewed the most likely buyer by demographic profile. As a buyer don’t you want the same service? Offer too low and the seller isn’t interested in working with you. An insult! No second chance if you discover that there was a second offer! Like having the carpet pulled our from under you.

5. Mistrust the help of professionals.

As an agent broker I work with many professionals in the real estate field on a daily basis. They have specialized knowledge and experience. Recently a lawyer told the story of a buyer who asked him to do only the registration of a house sale and how much would that be. Apparently the buyer felt they could do all the other tasks on his own after viewing an on line description of a real estate conveyance . They were up for the challenge and could save money at the same time. The lawyer wisely declined the case. Buyers and some sellers frequently don’t grasp the consequences of contract law. Claiming not to know may work in high school but it could land you in court for serious damages if your offer goes off the tracks. Do it right. Hire and trust professionals.

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4 Reasons to Hire a Real Estate Agent and one Warning.

4 Reasons to Hire a Real Estate Agent and one Warning!

1. Experience: considering that most real estate agents write forty or more transactions per year; that makes nearly one sale a week. Some people may buy a home every 15 years. Well, that means that the average person will not be up to date in legislation or mortgage financing requirements or legal matters concerning the purchase or sale of a house. And they will loose more often than win when side by side a skilled negotiator.

2. Access and Impartial: Most sellers provide access to their house trough a highly secure lock box allowing the buyer agent to enter the house freely and to tour room to room unhindered. They can look in closets and explore the home without the watchful eye of an anxious seller. Although the seller will be selling their home, the real estate agent sells all available homes and has access to all of them so if one home is not right, perhaps another home will work better. Maybe the location will be attractive or the side of the street will be nicer due to the sun rise and set location. These are important matters and the real estate agent can offer general as well as specific insight without fear of offending an owner or neighbour.

3. Skilled and Schooled: Real estate agents have extensive training as well as related skills learned prior to receiving their broker’s license. They are knowledgeable about acceptable building standards from various building periods. People ask me all sorts of things that matter to them. You don’t have to fear the: This may be a stupid question but, where does the water go when you flush the toilet? Or how about the question; can I open up the living room space by removing this wall? Sounds funny but similar questions are common.

Real estate agents should know when a home owner renovations are acceptable and when something needs further investigation by an engineer or specialist home inspector. Agents have experience buying and selling and have encountered many situations. They have found techniques to manage risks through negotiation and effective compromise. And when events take a turn for the worse they know how to exit the negotiations without risking the buyer’s or seller’s position. Everyone has an interest to protect. The agent is the trusted expert to pull magic from a hat, making the deal work or knowing when to back off and avoid stigmatizing the house. Sometimes they must “think outside the box”, “thinking on the run” takes experience and a level head when under emotional stress.

4. Fun and Entertaining: Yes! it’s fun to look at homes, to visualize how the furniture and think how nice it will be to play with the kids in the back yard. I often say that the best house should easily accommodate a party. So think celebration and see if it works!

Open Houses can be exhausting. On the other hand, touring homes can be relaxing and enjoyable. Visiting six to eight similar homes will save time and money by focusing in on the essential wants and needs. I like the dialogue that grows with a seller or buyer helping them see the most important factors in the buying and selling situation and helping them focus on their goal. It’s like a trusted sports coach; you have a confidential relationship with your real estate agent guiding you toward the goal of home ownership. Its fun!

1. Warning: If there is one warning then its just this one! When a relationship between the real estate agent and the client is not comfortable, when there is a lack of trust or when the values of the parties are not on par it’s time to agree it’s not working and find another real estate agent. Simple! You most likely have signed an agency relationship. Say you’d like to cancel the arrangement and ask for their help in arranging that. No fuss. That simple! It’s happened to me even when I try hard to please difficult people. I can please most, delight others but can’t please everyone. Do you have question I should add? www.martinelder.ca

Hire Real Estate Agent ottawa

The Exchange Condo in Westboro

“The Exchange” by Domicile is located in Westboro at the corner of Richmond road and Berkley; the former Ketchums Manufacturing . They produced livestock tags in addition to the personnel identification tags, or DOG tags for the department of National Defence. Today it is a sophisticated low rise condominium in the centre of vibrant community of Westboro Village, Ottawa.

The location is a big plus for many urban living professionals because you can walk to grocery stores, wine store, restaurants, cafes, pharmacies and outing goods specialty stores. Florists and doctors offices are also near by. One of the biggest attractions for me is the proximity to the Ottawa river shore line with the associated walking trails, beach and the parkland. I like to take in a sunset or an early morning Sun Salutation on the beach!

The condo building is a mix of ground floor commercial and residential above. The lower floors feature a light coloured, large block stone and the upper floors are a tan fired brick with concrete balconies. The residential entry is off Berkley ave. The parking garage and outdoor surface garage is accessed from Richmond Road.

The entry is a subdued, no frills entry. A mix of tall grasses and flower plantings greet the visitor. Postal reception and elevators are immediately at the front door entrance. With only seven floors and two elevators there is never a wait.

Although there is underground parking I like the covered surface parking because they have made use of the roof top to grow moss and grass. Apparently every season is a different colour and height of growth. Nice to look down on an eye catching rectangle of natural green space albeit a rather modest green space!

One of the units available for sale features a north west view with panoramic windows. on the balcony, sizzle Grilled Vegetables on the natural Gas BBQ. Yes I like that! this is a spacious semi-loft style w cozy Gas fireplace. The two bedrooms are arranged diagonally, with two baths, so the smaller bedroom could be a den, office or visitors bedroom. The unit features light Hardwood flooring, an open Peninsula Kitchen, Shaker panel Cupboard Doors, Kitchen Aide Stainless Appliances, in-unit Laundry, and Sun Shade Blinds. Condo parking is included. Hurry!