Announcing My Live Play - Georgian Bay APP

I have commented from time to time in prior posts about how much technology has changed not just our daily lives.  It has also had a profound impact on entire industries and professions including the role of REALTORS®.

  Smartphone and mobile device usage has grown significantly over the past couple of years.  It’s not just our kid’s texting that has increased mobile device usage.  CBC News reported back in July of last year that Smartphone usage by Canadian adults had increased 33% from the prior year.  With this in mind, I am very pleased and excited to announce the launch of my own real estate APP, Live Play – Georgian Bay which I believe is the first such APP for our area. 

   

  Available for iPhone, iPad and Android devices as well as HTML for Blackberry and similar platforms,  Live Play – Georgian Bay is aimed at providing consumers with current and relevant information that will assist them with their real estate buying and selling needs.  Our role as REALTORS® has changed, much of it driven by technology but also by the changing demands of today’s consumer.  As professionals, consumers expect and need their REALTOR® to readily provide a degree of information, knowledge and service with respect to real estate that is consistent with the degree of expertise they receive from their lawyer or accountant.

  More than just an MLS® search tool, I have developed Live Play – Georgian Bay in such a manner as to give users access to an abundance of information via their Smarthphone or mobile device including my quarterly Georgian Triangle Real Estate News and Condo Communique newsletters, blog posts, open house notices, access to Royal LePAGE TV help videos and more.  I have endeavoured to develop an APP that will both engage and inform my clients and users.  My intent is to build an online community, a place where users can share photos of their new or perhaps dream home, their latest home renovation project or to simply ask questions or post comments.    

  While I believe my APP is the first of its kind in the area, it will not remain static or stale.  I will continue to refine its features in tandem with today’s ever changing technology and in accordance with what people want.  As REALTORS® we must demonstrate our knowledge and willingness to assist consumers without expecting anything in immediate return.  With my APP and other initiatives such as this blog, I not only want to keep my current and past clients informed about our local real estate market but I hope my efforts will provide a degree knowledge and service to others, earning their respect, trust and perhaps future real estate business in the years ahead.

 Please click on this link to download the correct APP for your respective device.  After exploring its use I would love to hear your feedback and do not hesitate to mention other features you would like to see. 

Dealing With the Home Inspection Part 2

When dealing with the terms of an Agreement of Purchase and Sale, Sellers and Buyers often face-off over issues that me be identified as the result of the Buyer’s home inspection, which can jeopardize not only the negotiation process but the very sale itself

  Just like humans, every home will have its own personality if you will.  Certain characteristics and yes issues that may or may not constitute a “fault” and a reason for a Buyer to either abort the purchase, or solicit a price reduction.   Just as Sellers need to address the appearance of their home from a cosmetic standpoint when listing their home for sale, attention should also be paid to maintenance issues that have been neglected.  Does the roof need to be repaired or replaced?  Is there evidence of water leaks such as stains in the ceiling?  Are plumbing faucets leaking, have some windows lost their seals and are fogged up.  These are all factors that (a) represent how well a home has been maintained and (b) are  items that a good home inspector will identify and flag in a report along with some issues that may not be readily visible to the casual observer.

Depending on the property, Sellers may be well advised to have their own home inspection done prior to listing.  This is not meant to take the place of a Buyer’s home inspection but it will serve top identify items that should be addressed prior to listing the home for sale and eventually haggling with a Buyer over.

  From my experience, most Buyers are reasonable.  Buyers looking at a century old farmhouse will for the most part be prepared to deal with a host of things that a home inspector may find.  That is part of owning an old house.  Someone buying a newer home however may not be so tolerant.  Regular maintenance of small items that have been neglected will probably not be questioned by a Buyer as most of these will be duly noted when the Buyer views the property.  Personally, I do not feel that a Buyer should be looking to amend a price to repair items that were clearly visible when they viewed the property that is simply a Buyer trying to take advantage of someone.   It is the larger unforeseen items that are uncovered via a home inspection that will no doubt raise concerns and perhaps bring about a change of heart with the Buyer.  Is there inadequate insulation in the attic?  Is their aluminum or in the case of older homes, knob and tube wiring present?  Galvanized pipe in older homes is another issue that is of concern?  Is the furnace and or air conditioner, or the swimming pools liner on their last legs?  These are just a small sample of what a home inspection might uncover that could impact a Buyer’s decision to move forward with their purchase of a specific property.

  As a REALTOR®, I may handle the situation differently if I am representing the interests of a Buyer versus a Seller.  The following are some of the options available to Buyers and Sellers in terms of how to negotiate dealing with issues that may arise from a home inspection. 

• -          First, the Buyer may simply not fulfill or waive their home inspection condition by the required date.  As such the deal becomes null and void and the buyer’s deposit is returned to them.
• -          Second, the Buyer requests (in writing) that in exchange for the Seller fixing the items at the Sellers expense prior to the closing date, the Buyer will remove their condition and firm up the purchase.
• -           Third, the Buyer can ask to have the previously agreed to price amended ie: reduced in order that they do the needed repairs at their own expense after closing.  This price reduction can be done up front or it may be done as a credit to the Buyer on closing.
  

 Sometimes a Seller may dig in their heels and insist that they will do nothing to remedy a problem that may have been identified in a home inspection.  That is most likely not the most prudent position to take.   Being unwilling to fix a problem or consenting to a price adjustment may result in losing the sale and they will only have to face the same issue with the next Buyer that comes along.

  As always, my best advice to Sellers is to get your home in top shape before you list it for sale.  In the event your home needs something like a new roof, furnace or other such item and the funds are simply not available that’s okay.  Your REALTOR® can price the property accordingly which should take the item off the table when it comes time to negotiate with a Buyer as the issue has theoretically at least already been dealt with via the price.

  For additional information about home inspections, see my Home Cents Help Tip “The Importance of a Home InspectionBefore Buying.”

Dealing With The Home Inspection Condition

One of the often contentious issues regarding the sale of a property is the attainment of a satisfactory home inspection report.  This aspect of selling a home or condo need not be the confrontational situation that it sometimes turns out to be and sometimes it’s not the property but rather the REALTORS® and or the home inspector that is to blame.

  Most Agreements of Purchase and Sale threes days will contain a home inspection condition which has been inserted on behalf of the Buyer.  What does this condition stipulate?  The condition is worded as such that the offer is “conditional” upon the Buyer obtaining a home inspection report that is satisfactory to the Buyer in the Buyer’s sole and absolute discretion.   Failing this, the offer can become null and void and the Buyer’s deposit is returned in full to the Buyer without deduction.  In the event issues with the home are uncovered during an inspection, there are several remedies which can be made so as to keep the Agreement alive.

  Sometimes when representing a Buyer where we have completed a home inspection, the Seller’s REALTOR® will call me asking, “..did the house pass the home inspection?”  A home inspection is not a test.  There is no passing or failing.  A home inspection is simply a report detailing as best as the inspector can following a visual inspection, the condition of the property at that point in time.  No home is perfect not even new or ultra expensive ones.  One home inspector that I use and respect, often does inspections on homes in new subdivisions.  Time and again he has found the same issues in most if not all homes built by a particular builder.  It’s not necessarily a fault or even a building code violation, it’s just a repetitive characteristic found in these homes or condos that may pose a problem down the road or may detract from the energy efficiency of the property etc.

  Just as a home inspection is not meant to be a test, it’s also not meant to be a ways and means of driving down a previously agreed to price.  Often Sellers approach the home inspection condition with fear and trepidation and that need not be the case.  Again when home inspections create problems, it’s often the REALTOR® or the home inspector that is to blame. In my next post I will cover what Sellers can do in preparation for the inevitable home inspection and some of the available options that Buyers and Sellers have when addressing items of concern that has arisen during the home inspection process.

Just Out - The Latest Issue of My Georgian Triangle Real Estate News

Further to my last post, luxury home sales in the southern Georgian Bay area during 2013 remained strong yet as we start 2014, there remains a significant level of available inventory over the $1 million mark.  

The latest issue of my Georgian Triangle Real Estate News summarizing the entire local real estate market for 2013 now available to 
download.

Luxury Home Sales Above $1.5 Million Double in 2013

Despite dire predictions from various media sources regarding Canada’s real estate market being on the verge of a major correction, sales across the country in 2013 remained very robust.  

  Here is the southern Georgian Bay area, MLS® sales in 2013 totaled $624.5 million, up 9% from 2012 and a new all time high.  MLS® single family home sales in terms of units sold were up 4% while 
condominium sales increased 6% during 2013. 

  The upper end of the market reflected the same positive growth with luxury homes very much in demand especially those priced over $1.5 million.  Sales over $1 million totaled 31 properties up from 26 sales in 2012.  MLS® unit sales between $1 and $1.5 million were actually 1 less than the prior year with 21 sales reported versus 22 in 2012.  Meanwhile, sales above the $1.5 million threshold more than doubled with 10 MLS® sales reported compared to just 4 in 2012. 

  The accompanying charts illustrates the five year trend for MLS® sales in our area from 2009 to 2013.  On this chart I have also included the number of current MLS® listings in the area over $1 million.  Based on the rate of sales for $1 million+ properties that we experienced in 2013, there is currently a 48 month inventory of properties priced at $1 million or more in our marketplace.       

  Successfully attracting a buyer for properties in this segment of the market is very  much dependent on price.  Potential buyers for luxury, high-end properties are perhaps the savviest of consumers.  Obviously there is an abundance of resale inventory for them to choose from.  If you are contemplating either selling or purchasing a high-end, luxury home in our area during 2014, please feel free to contact me for a candid, confidential and no obligation discussion about your needs or plans and put my expertise to work for you.  Happy New Year!