The Hintze Team Blog

1. Base asking price on market value rather than needs and emotion. Too often the price gets based on how much was invested in the home. This may be an expensive mistake. Price competitively.

2. Make sure to “Showcase” your home. This means making repairs and sprucing up both inside and out.

3. When upgrading try not spend thousands of dollars. Check with your Realtor first.

4. When choosing an agent, don’t just go for the one who offers the highest price. Look for an experience agent, who has the best marketing plan in mind.

5. Point out only necessary home features. Overselling loses sales.

6. Take offers seriously. The home is most saleable when it first hits the market.

7. Know your contract. Having an experienced agent or having a lawyer go over the contract with you is important.

8. Marketing, Marketing Marketing!

Ok, everybody knows that a listing with lots of photos will get more attention online than one without. Big surprise. Just how much more attention do they get, and how does that affect the sale of the home? That's something that is hard to prove.

Well, Frank Llosa a broker in Virginia spent some time with his local MLS stats and found out how photos affect the sales of homes in his area. I would think that his results would be similar in other areas, including Edmonton. Using a sample of 268 sold listings in Fairfax, VA, he came up with the following information:

The more photos a listing had, the faster it sold:

1 Photo = 70 DOM Avg
6 Photos =40 DOM
16-19 = 36 DOM
20 (the maximum on his MLS) = 32 DOM (in Edmonton the maximum # of photos we can put on the MLS is 10)
He also found that more photos meant the house sold for closer to list price - those listings with 1 photo sold for 91% of list price and those with 6 or more photos sold for 95% of list price.

As Frank says in his article, this means as a buyer you shouldn't skip those listings with no photos because you're just might find a deal out there that everyone else has skipped past. And of course, if you're a seller, make sure there are lots of good photos of your home online.

Real Estate and Eco-Friendly Homes

Every day we hear more and more discussion regarding the environment and the topic of going green. Now, it seems it has even made its way into real estate.
Those homeowners who choose to undergo environmentally friendly home improvements when renovating their homes will likely see a solid return on their investments when the time comes to sell. Such improvements have recently climbed to the top of the shopping list for many buyers. In a recent survey, 72 % of those Canadians that responded said they will look for a green-improved home in their next purchase.
At the same time, 63% of those who responded said they would pay more for a home that was indeed environmentally friendly. Of those, 62 % are willing to pay between $5,000 and $20,000 more for green features, with 7% willing to pay $20,000 or more.
Indeed, our homes have a huge impact on the environment. The use of high-efficiency windows and appliances, high-efficiency furnaces and water-conserving fixtures are a few of the items that are receiving a lot more consideration on the part of consumers now, than as recent as just a few years ago.
Environmental concerns and choices are impacting us in all aspects of our lives. From the way we carry out our jobs, to the vehicles we choose to drive (or not to drive), to the type of produce we buy and where that produce was grown. Eco-friendly home buying decisions are the natural progression of this movement towards a greener world for tomorrow.

Research
The internet is a great place to start for example: The Lay of the Land on www.cottagelife.com, may open your eyes to new areas you hadn't previously considered.
Small Lakes are Great!
Take into account area, exposure, and view, especially if you enjoy sunsets. Lake size is important, but your new cottage does not have to be on one of the "big three" to make it worthwhile. There are thousands of little lakes around Ontario that could be the perfect location for your new cottage.
Price
What are you paying for? Include sale price plus taxes, professional fees, surveys, and inspections. And, don't forget to think of resale value. Is your property going to increase in value over the next five years? Will development in the area help or hurt your property value?
Income Potential
Are you interested in making an income from your property as well as using it as a recreational retreat? Over 40% of cottagers rent their summer retreat for one or more weeks to cover some of the operating costs.
Who Else has Claim to the Land?
Are there any current or possible lands claims issues from First Nations? Who owns the surrounding treed areas (it could be Crown land, or leased to a forest company)?
Access By road or by water?
Check winter access and road ownership (private, municipal or deeded). Many cottage roads are owned privately by local road associations. Find out who maintains it, when, and what your annual cost will be.
Shoreline
Who owns it (shoreline allowances), and who has access (check if there are rights of way)? Take into account water depth, slope, and whether it has a rocky or sandy bottom. Remember that the water level you see in April is not necessarily what you'll be getting in August. Consider erosion issues - what will your shoreline look like in 10 years?
Services
Check into availability of local services - phone, grocery, hospitals, marina, electricity and garbage collection. Is 911 service available?
Water Source
Lots of possible options here: municipal supply, lake, or well; drilled, bored, or dug well; communal or private well. For waterlines from the lake, ask about the treatment system (if you plan to drink the water). Also, check the condition of the pump and intake lines. Water Quality
You will likely require a potability test to test for contaminants such as nitrates from farm runoff, metals such as lead, and sulphate. If it's drinkable, how do you feel about the water's small, taste, and colour?
Water Levels
Ask how the water levels change from year to year, and seasonally. Will fluctuations affect boating, swimming, and even building (e.g., a new dock)?
Waste Disposal
Cottage sewage systems range from an outhouse or composting toilet to a septic system or a holding tank that must be pumped. Is there room to upgrade the system? Check the age (more than 20 years is likely the danger zone) and condition (e.g., is the lawn over the system wet or unusually lush, both bad signs?).
Building Approvals
Planning to build a new deck, dock, or boathouse or, heck, a whole new cottage? You'll need a permit. Depending on the project and which level of government jurisdiction it falls under, your plans may not be allowed. Also, ask how long approval takes.