Real Estate Basics 101: How To Book Home Showings (Pre-Qualifying)

Tanya LaRose 0 comments 01.02.2021

1. Choose A REALTOR® – The benefits of working with one REALTOR® will always out weight the benefits of working with several REALTORS®. It is like choosing six pennies over one dime. When you work with one REALTOR®, you are guaranteed all fiduciary duties from them protecting your best interest to maintaining your full confidentiality. An effective working relationship is also developed where your REALTOR® will have a thorough understanding and commitment to your needs. Once you have committed to a REALTOR®, they will act as your personal concierge for scheduling all showings and dealing with all vendors.
2. Get A Mortgage Pre-Approval – Any skilled REALTOR® will ask you for proof of mortgage pre-approval prior to showings. No matter how sure you are of your financial picture, there are multiple variables that can affect this. It is a small step for a buyer to take, out of respect of the seller who is sacrificing their time and privacy, to be allowed access into someone’s personal space. You also save yourself time and disappointment as you may be looking at homes that are out of your budget. It is a privilege to be allowed into someone else’s home and only an amateur will overlook basic regulations of organized real estate. Nobody benefits from an amateur!
3. Provide Photo ID – Again, providing proof of your identity is a small step to protect all parties involved in any potential real estate transaction. When you are asked for your photo ID, it has nothing to do with invading your privacy, but everything to do with protecting REALTORS® from assault or rape and sellers from thieves or other criminals. It also protects you by preventing any catfishing should an actual criminal attempt to claim your identity to access a home. Not to mention the added health risks during a global pandemic, the seriousness of entering someone else’s home cannot be understated. Organized real estate benefits all parties involved so when you are asked pre-qualifying questions, DO NOT COMPLAIN as it saves everything from time to lives.

Top 5 Highlights Of The Saskatoon Real Estate Market From 2020

Tanya LaRose 0 comments 01.01.2021

1. The 2nd Busiest Year Ever – Strictly speaking in terms of market
   data, 2020 has been the second most active year for Saskatoon residential real
   estate in the history of Saskatchewan MLS®.
2. June Explosion – While the pandemic caused an
   audible pause at the end of the first quarter in the 2019 real estate industry,
   much like most other industries, the market activity had a huge explosion
   starting at the beginning of June. The activity far exceeded that from the
   following year, and each following month after June in 2020 continued with the
   same acceleration.
3. Sharp Market Shift – Over the past several years in
   residential real estate, Saskatoon has been in an extreme Buyer’s Market
   with seemingly no end in sight. Of course, no one saw the pandemic coming which
   resulted in a sharp shift to an extreme Seller’s Market. Typically, this
   kind of Market Shift happens very slowly over numerous years, so the industry
   is doing its best to keep up but over the past few months demand has exceeded
   supply.
4. Golden Houses – It should be noted that the conditions
   of this Seller’s Market are most applicable to houses, also known as Single
   Family Dwellings. The condominium inventory is not moving quite as quickly
   as a house under 500k. Theoretically speaking, if these trends continue into
   2021, it would be the ideal time to downsize. A homeowner could capitalize on
   selling for top dollar for their home (if advised properly in sale preparations
   by their REALTOR®) and possibly get a great deal on a
   condo. It would also be an opportune time for parents to invest in a condo for
   their children who are going to post-secondary school.
5. Cabin Fever – Fascinatingly enough, the Market
   Shift is a result of two primary factors: low mortgage rates and, for lack of a
   better term, cabin fever. Homeowners who are confined to their own home for
   months on end have proven to get restless enough to either renovate their
   current home (i.e. lumber and other home products shortage) or move into a
   different home simply for the sake of a change in setting.    

If you
are thinking about selling your home in 2021, contact Tanya LaRose at 306-380-7325
for assistance in the most successful sale possible.

5 Ways To Use Christmas To Help Sell Your Home

Tanya LaRose 0 comments 01.12.2020

1. Consider Your Street – If everyone on your block lights up the exterior of their home, you may want to consider matching that level of cheer. A first impression as “The Grinch” might not bode well during showings, drive-by's, and/or open houses.
2. Keep It Real – Although considered “high-maintenance”, a real tree appeals to two sense: sight and smell. Two important aspect of successfully selling a home. The warmth psychologically triggered by a real Christmas tree is worth every effort to keep the tree alive over the holiday season.
3. Keep It Classic – The overall theme you set for both exterior and interior decorations should be classic. Classic colours like red, white, and green or gold. No new holiday characters that anyone over the age of 30 will not recognize. Simply put, think “Miracle On 34^th Street” for décor inspiration.
4. Sending Out Christmas Cards – If you are a savvy Christmas card sender, you can always note a reminder to your family and friends that you are trying to sell your house. Family and friends are great networks to tap into for potential buyers that you normally would not have access to.
5. Depersonalize Decorations – Just like every other day of the year, decoration should always be depersonalized in a home that is listed for sale. No names on the stockings or personalized tree ornaments. Ultimately we want to keep family photographs to a minimum, heavy religious symbol lessened, and any potentially offensive décor removed.

How NOT To Work With A Real Estate Agent

Tanya LaRose 0 comments 02.11.2020

1. Ask More Than One Real Estate Agent To Help You – Not only should a real estate agent not have to waste their time helping you, with no possibility of getting compensated for their time and knowledge (do you go to work and not expect to get paid?), but REALTORS® are not allowed to interfere with other REALTORS® clients – LEGALLY! To avoid this double whammy, often you can part ways with your real estate agent and choose another if you feel the first one is not the right fit.
2. Lie To Your Real Estate Agent – Whether you are trying to lie about how much of a mortgage you are pre-approved for or that there is a lien on your house, it is completely futile. Any skilled real estate agent will find it out anyway. Save yourself some time and tell the truth. The more truthful information you provide, the more effectively your real estate agent can help you.
3. Secretly Try To Squeeze Your Real Estate Agent Out Last Minute – Every now and then a scenario will arise where a seller and buyer might think negotiating between themselves as an option and try to complete the deal without informing their real estate agent. If this route is taken, you may find yourself going to court with the buyer or seller you have negotiated with due to failure to disclose or some other variable lacking in documentation. You might also find yourself going to court with a real estate brokerage if you signed any contracts with them.
4. Not Taking The Advice Your Real Estate Agent Gives You –  If your REALTOR® tells you that your offer is too low and you insist on submitting it only to infuriate the seller and get yourself banned from any future offers, you might want to start listening to your agent. If your REALTOR® tells you that your home is worth $350,000 but you insist on listing it at $400,000 and it does not get any showings for five months, you might want to start listening to your agent. The number of situations that need advising on is endless, so you might want to start listening to your agent.
5. Avoid Asking Your Real Estate Agent Questions – No question is a stupid question. Hopefully, you have chosen a skilled professional who speaks fluent REALTOR® and understands that most people do not. Which brings us back to point #1 (above): when you commit to one real estate agent, a relationship of trust can be developed so you can feel free to direct all of your real estate questions to them 365 days a year!   

8 Features In A House That Signify A Luxury Home

Tanya LaRose 0 comments 01.10.2020

Certain
features signify luxury when it comes to real estate. The following list is
compiled for homebuyers to become familiar with what features to keep an eye
out for when viewing homes, or for homeowners to keep in mind when completing renovations
to improve their home equity. Generally, each feature costs more in terms of
product and services. Can you add to the list?

1. Crown Moldings – For centuries crown moldings have only been seen in luxurious homes. Although they are not necessary, when they are installed it is important to ensure they are in balance with the baseboards and the rest of the home design to avoid a busy effect. https://www.royalmouldingsinc.com/blog/10-things-didnt-know-crown-moulding/#:~:text=%2010%20Things%20You%20Didn%E2%80%99t%20Know%20About%20Crown,century%2C%20all%20moulding%20was%20carved%20by...%20More
2. Tall Baseboards – In general, the smaller the baseboard the less it costs. Not only that but a taller baseboard lends to a more attractive aesthetic finish. It is the happy medium between a lower end baseboard and wainscotting which creates an extremely formal room finish. https://www.realtor.com/advice/home-improvement/what-is-wainscoting/
3. High Ceilings – In terms of cost, this feature adds to the cost of construction due to increased material and labor. It also lends to a feeling of grandeur while in the home which home buyers prefer therefore increasing the value of the home.
4. High-Efficiency Furnace – When accounting for the state of the climate and the lower monthly bills, the obvious choice is to opt for a high-efficiency furnace. While it does cost more at the beginning, the investment pays for itself over the years. https://allclimatehvac.com/commercial-heating-in-fridley/furnace-replacement-fridley/high-efficiency-vs-standard-furnaces/
5. Exterior Venting Kitchen Hood Fan – In Saskatoon, most hood fan’s do not vent outside. When the fan is turned on, the condensation suctioned up goes back into the room. It leads to strong smells in the home that are impossible to remove and a high humidity level which can lead to other problems. When shopping for homes, always ask your REALTOR® if the hood fan vents outside.
6. Triple Pane Windows – Not only do triple pane windows lend to better home efficiency but they also provide a better sound barrier. Over the years, they ensure the best aesthetic appeal with no condensation build up.
7. Upgraded Flooring – Hardwood floors are gorgeous and always highly coveted but durable laminate is sometimes the better option as they are more durable for high-traffic homes or homes that are pet-friendly. These days, laminate comes in a wide variety of durable and attractive styles.
8. Stucco Exterior – Although there are a few other exterior finishes that signify wealth, including culture stone and brick, none are quite as common as a nice acrylic stucco. If done properly, stucco will last for decades in the same quality as when it was initially applied. It is also common to pair it with accents of culture stone, for added style while not breaking the bank. https://blog.renovationfind.com/benefits-of-choosing-acrylic-stucco-for-your-home/

If you are looking for a home with these features, contact Tanya LaRose at 306-380-7325 to be connected with a previously enjoyed home or a home builder that specializes in luxury development.

10 Things To Do In The First Year After Buying Your Home

Tanya LaRose 0 comments 01.09.2020

1. Walk-Through – First and foremost, you will complete the walk-through on the very first day of owning your home. It is during this time that you will ensure that the home has everything you were promised during negotiation and no new damage is found on the property. You can also take this time to ask your REALTOR® any last-minute questions.
2. Change All Locks – Most homebuyers will change the locks as soon as they take possession of a home because there is no guarantee that more original keys are not in circulation. While you are at it, you can install a keyless entry for added convenience. Or you can call a security company to review other home security options such as alarms and video surveillance.
3. Update Your Information – You should have already updated the appropriate entities for heat, water, and power by the time you take possession of the home. Swing by a local insurance company and update the address on your Driver’s License, among your other major ID suppliers. Do not forget to redirect your mail too! Canada Post offers some impromptu options for that at https://www.canadapost.ca/cpc/en/personal/receiving/manage-mail/mail-forwarding.page
4. Check Electrical Outlets – Most home inspectors will check this, but if you did not get a home inspection you will want to make sure all electrical outlets are grounded. Grounded electrical outlets will prevent painful electrocution or even death if you were to somehow drop a hairdryer into your bathtub. You can either call an electrician to check this for you or you can go to your local hardware store for an Electrical Test Kit. The big box stores sell them for around $30 as shown here https://www.homedepot.ca/product/klein-tools-electrical-test-kit/1001411954.
5. Verify Air Quality – Make sure you have smoke detectors on every floor of your home and that the batteries are all functioning. You will also want to verify the presence of carbon monoxide detectors throughout and test their functionality as well. Lastly, and often overlooked, take the time to pick up a radon test. It is estimated that radon kills around 3,000 Canadians a year. Radon test kits are typically user friendly and about $50 to purchase at https://radonkit.ca/.
6. Furnace Health – If a major season change just took place, you will want to book a duct cleaning. The furnace can be serviced at this time as well. It typically costs a few hundred dollars but will substantially add to the lifespan of your furnace. Look at the furnace filter too and pick up a few of those as you will want to replace them every three months, give or take, depending on the amount of people and pets in your home.
7. Emergency Contacts – You are now in charge of an entire house so that means you need to know who to call in case of an emergency. Local plumbers, electricians, emergency restoration services, the fire department, etc. should all be in an easy-to-find location.
8. Emergency Kit – In case of natural disasters, or even just a power outage, you will want to ensure your family is safe and comfortable. Create your own emergency kit with items like the following: flashlights, fire distinguisher, portable heater, cash, water and non-perishable food. https://www.businessinsider.com/home-emergency-kit-products#:~:text=15%20items%20everyone%20should%20have%20in%20their%20at-home,roll%20of%20heavy-duty%20duct%20tape.%20More%20items...%20
9. Inspect Your Homes Exterior – Especially with the extreme seasons Canada has, the inspection could potentially save money and problems in the future. Look at the condition of the shingles, the cleanliness of the gutters, the quality of the windows, and any abnormal holes in the house. A proper inspection can save you money on heating in the winter, while proper shingles and clean gutters will prevent water damage in the spring. Take care of those pesky holes too which allow for pesky pests in the house!
10. Create A Tradition – Many people create “New Home Traditions” and it adds to the special experience of really making the house your own. Whether it is hosting a housewarming party or everyone in the family choosing a paint color for their room, the comfort level in the home increases. Often if the property is extremely old, the homeowners will also take the time to burn sage in the home, have a pastor visit to pray over the home, or have an energy clearing of the home. The first year in your new home can be overwhelming so your new home tradition something meaningful and ceremonial. For example: http://www.housewarmingblessing.com/celebrities-smudge-with-sage/

3 Key Indicators the Real Estate Market in Saskatoon Has Shifted

Tanya LaRose 0 comments 01.07.2020

Saskatoon has been in a firm Buyer’s Market for the past several years. It was not so long ago that the record was broken for the highest number of listings, in Saskatoon’s history, at over 2,200 available homes for sale. However, the global pandemic had some interesting effects on the local market that bodes in favour of sellers. A few of those key points are identified below, with additional information available through Tanya LaRose at 306-380-7325.

1. Higher Demand – Arguably spurred by the pandemic lockdown, many buyers are looking to purchase a new home. Often the property is sold before interested buyers even get a showing booked.
2. Lower Inventory – Currently there is approximately a three-month supply of homes which is substantially lower than the past several years. The amount of homes for sale in Saskatoon is nearly 25% lower than last year.
3. Bidding Wars – Bidding wars will drive up a sale price. We have seen nine houses in Saskatoon sell over listed price within a span of seven days in the month of June. It is an extremely rare occurrence and numbers like this have not been present for about a decade.

   Note: Data is an approximation deemed accurate at the time of writing this article for the city of Saskatoon.

COVID-19 Safety Precautions: Home Buyers & Home Sellers Edition

Tanya LaRose 0 comments 01.05.2020

HOME BUYERS

Home Buyer Strategizing – It is more important that now
than ever to be strategic with your real estate goals and going about them any
way less is foolish. Take the right first step and begin your home buying
journey with a Home Buying Counseling session with Tanya LaRose, REALTOR®.
You will find out exactly what you are looking for, how to get it, and what to expect
along the way.   

Efficient Showing Selection – It is a very dangerous
time to be the looky loo so if you have a tendency to do this, please share it with
your REALTOR®
and they can help you remain focused. Many more media mediums are being incorporated
into listings now so you can view much of the home virtually. When you have selected
homes that require a closer look, ensure they have much of the criteria you are
looking for and therefore are genuinely attractive before you ask your REALTOR®
to schedule the showing.

Perfect Your Finances – The Bank of Canada is taking
strides to strengthen the economy by dropping mortgage rate substantially. Take
advantage of this by asking your mortgage specialist to lock in a rate so your monthly
payments are as low as possible. A mortgage rate can be locked in for up to
three months! Many lenders are also extra meticulous with each files completion
so make sure you have all of your ducks in a row when preparing with your
mortgage broker.    

Protect Yourself During Showings – Gloves, mask, and
hand sanitizer are all tools that you can use to protect yourself and others
during showings. You will also want to avoid touching anything in the home that
you do not need to during the showing. Many homeowners will leave the lights on
and interior doors open for you before they leave and close everything back down
when they return so you do not have to touch anything.

Buyer Client Waiver – The Saskatchewan REALTORS® Association
has taken the initiative to compose a COVID-19 Buyer Client Waiver to do our
part in reducing the spread of the virus. It is a short document that will make
up part of the precautions being practiced by your local real estate industry as
an essential service, in addition to our basic responsibility to humanity.

HOME SELLERS

No Open Houses – The Saskatchewan REALTORS® Association
set national precedent by banning all open houses, therefore it is not optional
to host any open houses for the public or REALTORS®.

Leased Revenue Properties – Remember that currently
the Office of Residential Tenancies (Rentalsman) is not issuing eviction notices
so if you accept an offer outlining possession of a vacant home, you are
accepting a very risky liability.

Tenants During Showings – If you do have a trusted
relationship with your tenants and you proceed with putting your property on
the market, specify with your tenant that they will need to vacate the home
during all showings. Tenants staying home during showings was always frowned
upon but is now unacceptable with the current health concerns as a potential
buyer may refuse to enter the home at all with a tenant present.

Preparing Your Home Before Showings – Before you
leave your home for a scheduled showing, be sure to leave all the lights on,
with all interior doors open, so the contact required by the potential buyer is
minimal. If possible, but not mandatory, you will also want to leave the home for
a extended time period beyond what was scheduled.

Seller Client Waiver – The Saskatchewan REALTORS® Association
has taken the initiative to compose a COVID-19 Seller Client Waiver to do our
part in reducing the spread of the virus. It is a short document that will make
up part of the precautions being practiced by your local real estate industry as
an essential service, in addition to our basic responsibility to humanity.

For more safety precautions and best practices, please contact Tanya LaRose at 306-380-7325 to further discuss details on how you can safely and successfully proceed with your 2020 real estate goals.

10 Productive Homeowner Tasks To Do While Staying Home During The COVID-19 Pandemic

Tanya LaRose 0 comments 01.04.2020

Even if you are not planning on selling your home, you always want to protect your investment and keep it in its best condition. Alternatively, if you plan on selling your home this year, take advantage of the added time you are spending in your home and help it look its best for when the time comes to put it on the market. Many of the following tasks can be done with minimal to no supplies. If supplies are needed, they can be delivered to your home. 

1. Deep Clean – Many surfaces build up dust and grime easily over time which could make your home a hotbed for germs. Take this time to remove dust from all edges, disinfect all crevices, and remove all grime buildup on fixtures or doors (vinegar works great on doors!).
2. Replace Batteries – It is always good to ensure the nuts and bolts of your home are running properly. Whether it is on your smoke detector, carbon monoxide detector, alarm system, or thermostat, check those batteries! These items would also be identified in a home inspection.
3. Replace Filters – Filters are like the lungs of a home. Check your furnace filter, humidifier filter, range hood filter, and any other filters in your home that might need addressing. You may have to just wash some of those filters but be sure to do your research on which ones cannot be washed. 
4. Check Grout – Tile can often be found in bathrooms and kitchens not only for aesthetics but also functional reasons. You will want to make sure to always repair and clean the grout as it will prolong the life of tiled surfaces and it just looks so much better. 
5. Check Caulking – You will find the bulk of this in any bathrooms and the kitchen too. Run your finger along the caulking and if you find any open spots, strip and replace. Caulking is very inexpensive but a leak could cause hundreds, if not thousands, of dollars in replacements. 
6. Tighten Up – After a long winter, doorknobs, railings, and racks may be sitting loose. Take out a screwdriver and tighten things up! The entire house should take 15-30 minutes and prevent a full replacement in the future. 
7. Tape, Mud, And Sand – If you have a few quarter sized dents in your walls that you have been walking by for months, now could be a good time to try your hand at repairing them. Larger sections are not recommended as this project can produce a lot of dust and prompt the need to clean your ducts which is something you would want to avoid right now.
8. Paint – Whether you are painting a discolored room or just to change the vibe in the room, now is a great time to take on this smaller project as there are many non-toxic paint options available. Many people also find painting therapeutic which would be beneficial during these times of uncertainty. 
9. Wash Window Treatments – If you have horizontal blinds, it is worth the time and effort to thoroughly clean the dust off of these. If you have drapes, take them down and wash them, you might be surprised at the original color! 
10. Yard Work – As long as you are still adhering to the physical distancing regulations, feel free to get those yard tools out this spring, just take a break if your neighbor comes out to tackle their yard. Don’t forget your gutters! 

If after this thorough comb-over of your home, you find that it does not suit your needs as much as it once did, contact Tanya LaRose at 306-380-7325. You will receive a free Homeowner’s Counselling Session completed remotely from the comfort of your own home. 

The 7 Most Common Items Needed For Your Mortgage Pre-Approval Appointment

Tanya LaRose 0 comments 02.03.2020

1. Government Issued Photo ID – Ensure it is not expired and has your current address.
2. Proof Of Address – You may need your address history, depending on your current living circumstances.
3. Proof Of Income – T4, pay stubs, child tax, etc.
4. Contact Information For Your Employer – A longstanding employer is always best but your employment history might be required.
5. Proof Of Down Payment – It should reflect the exact amount and where it came from (gifts are allowed as well).
6. Any Outstanding Current Debt – You will need to include all financial obligations and anything that may have damaged/ing your credit.
7. Proof Of Assets – Other real estate, savings, vehicles, investments, etc.

Disclaimer: Mortgage pre-approvals vary from person-to-person and financial institution-to-financial institution so other items may be needed. It is also important to note that you may get a rejection from one mortgage specialist and an approval from another. Call or text Tanya LaRose at 306-380-7325 for a highly-skilled mortgage specialist contact.