How to Get a Home Ready for an Open House

Sellers facing their first open house might find this checklist helpful. Laura Tiffany, an associate with Coldwell Banker Burnet in Minneapolis, recommends the following preparation tips for opens:

• Box up knick-knacks, family mementos, and books to create a neutral environment.
• Remove excess furniture to make the rooms seem more spacious.
• Thoroughly clean carpets, windows, closets, and ovens.
• Assess needed household repairs and make them.
• Clear debris from sidewalks, decks, and driveways.
• Get a qualified heating specialist to certify that the furnace is in good condition.
• Replace dated kitchen and bathroom hardware and fixtures.
• Remove heavy curtains that block light.
• Repaint rooms that look dull using a neutral color such as cream or tan.
• Refinish worn hardwood floors.
• Paint the front door and buy a new welcome mat.

Ten Inexpensive Ways to Wow Buyers

According to an article by Luke Mullins in the U.S. News & World Report (01/21/2010) there are ten inexpensive ways to wow buyers.

Now is the time for home owners contemplating a spring sale to spruce up their properties in anticipation of what Mike Larson of Weiss Research calls a potentially vibrant home-selling season. “If you have been beating your head against a wall, this is going to feel a lot better,” he jokes.

Here are 10 cheap ways to make a property more attractive to shoppers.

1. Improve first impressions. Touch up the paint on the front door and other areas that buyers see first.
2. Clean up the landscaping. Trim the hedges and trees and plant some annuals in the flowerbeds.
3. Paint the interior. A coat of light yellow or cream with contrasting white woodwork looks fresh and clean.
4. Refurbish the floors. Buff the hardwoods. Install new carpets – or at least get them professionally cleaned.
5. Take care of the big problems. If the house needs a roof or the front stoop is crumbling, get them fixed.
6. Buy warranties. Putting appliances under warranty gives homebuyers a secure feeling.
7. Improve energy efficiency. New windows or improved insulation tell a potential buyer the seller is on top of things plus they come with tax benefits.
8. Replace light fixtures. Updated fixtures, especially at the entrance way and in the foyer, create a good first impression.
9. Buy a stove. Home owners whose kitchen isn’t top of the line can jazz it up for a few hundred dollars by buying a new stove, which gives the room a fresh feel.
10. Tidy up the bathrooms. Get rid of mildew, replace caulking and replace stained sinks.

Top 5 Home Improvement Projects Based on Cost and Return on Investment

HomeGain.com, one of the first websites to offer Web-based free instant home values, announced that it has released the results of its nationwide home improvement and home staging Home Sale Maximizer survey. HomeGain’s recent survey shows the top do-it-yourself home improvements that Realtors recommend to home sellers.

HomeGain received responses from nearly 1,000 Realtors nationwide and configured a list of the top 12 do-it-yourself (DIY) home improvements that cost under $5,000 and benefit sellers most when they sell their homes.

According to the HomeGain survey, the top five home improvements that Realtors recommend to home sellers based on cost and return on investment (from highest to lowest ROI) are:

1. Cleaning and de-cluttering ($200 cost / $1,700 price increase / 872% ROI)
2. Home staging ($300 cost / $1,780 price increase / 586% ROI)
3. Lightening and brightening ($230 cost / $1,300 price increase / 572% ROI)
4. Landscaping ($320 cost / $1,500 price increase / 473% ROI)
5. Repairing plumbing ($385 cost / $1,250 price increase / 327% ROI)

Cleaning and de-cluttering continues to rank as the top suggested home improvement (since the survey was originally conducted in 2000), recommended by 98% of Realtors, costing less than $200 and returning a value of nearly $1,700 to the home’s sale price, or an 872% return on investment.

“Many Realtors agree, especially in a buyer’s market, that sellers who make these recommended home improvements often get their homes sold faster and at higher prices,” stated Louis Cammarosano, General Manager at HomeGain. “We have customized our Home Sale Maximizer online home improvement tool to help identify and prioritize the projects that can increase the salability and selling price of a home.”

Rounding out the top 12, the list of low cost, do-it-yourself home improvements includes: updating electrical, replacing or shampooing carpets, painting interior walls, repairing damaged floors, updating kitchen, painting outside of home, and updating bathroom/s.

The home improvement projects with the highest price increases to a home’s resale value are updating the kitchen ($1,200 cost / $2,850 price increase), followed by painting the outside of the home ($900 cost / $1,815 price increase) and home staging ($300 cost / $1,780 price increase).

“Inexpensive cosmetic home improvements and basic improvements greatly enhance the value of the home,” stated Carol Wilson of Carpenter Real Estate in Indianapolis, IN, HomeGain AgentEvaluator member since 1999.

For more information, visit www.homegain.com.

North Vancouver Open Houses Oct 17 – 18, 2009

Following are the open houses in North Vancouver as advertised in the North Shore News. The open houses are sorted by area to make it easier to find the home in the price range you are looking for. Please consult your Realtor to check open house times and prices.

NORTH VANCOUVER – NEW LISTINGS no opens 21. Grouse Woods 5633 Covey Pl, Sun 2-4, $1,129,000 22. Canyon Heights 1024 Prospect Ave, Sun 2-4, $1,995,000 969 Belvista Cr, Sun 2-3:30, $1,049,000 4025 Sunset Blvd, Sun 2-4, $939,000 23. Forest Hills 793 Tudor Ave, Sun 2-4, $1,148,000 968 Hampshire Rd, Sun 2-4, $1,699,000 895 Forest Hills Dr, Sat 2-3:30, $1,049,000 24. Capilano Highlands #103-3750 Edgemont Blvd, Sun 3-4, $639,900 #307-3151 Woodbine Dr, Sat/Sun 2-4, $634,900 3735 Riviere Pl, Sat/Sun 2-4, $888,000 1307 Mount Crown, Sat/Sun 2-4, $1,599,000 25. Capilano 2556 Lloyd Ave, Sat 2-4, $679,000 2873 Capilano Rd, Sun 2-4, $599,000 #205-3125 Capilano Rd, Sat 1-3, $575,000 2927 Capilano Rd, Sun 2-4, $499,000 26. Pemberton Heights/Pemberton 2038 Flynn Pl, Sun 2-4, $899,000 #1807-2024 Fullerton Ave, Sun 12-2, $359,000 #302-1085 W. 17th St, Sat 2-4, $369,000 2408 George St, Sun 3-5, $949,000 #102-1085 W. 17th St, Sat 2:30-4:30, $349,900 27. Norgate 1226 Dogwood Cr, Sun 2-4, $819,000 28. Hamilton #102-827 W. 16th St, Sun 12-4, $295,000 #217-1633 MacKay Ave, Sun 2-4, $447,000 #22-728 W. 14th St, Sat/Sun 3-5, $570,000 #43-889 Tobruck Ave, Sun 2-4, $579,800 #210-809 W. 16th St, Sat 2-4, $314,000 822 W. 20th St, Sun 2-4, $729,000 #75-728 W. 14th St, Sat 2-4, $549,000 650 W. 15th St, Sun 2-4, $759,000 29. Delbrook 4676 Prospect Rd, Sun 2-4, $1,194,500 4347 Glencanyon, Sun 2-4, $1,299,00 4420 Glencanyon Dr, Sun 3-4, $799,900 479 Saville Cr, Sat/Sun 2-5, $1,098,000 4347 Glencanyon, Sun 2-4, $1,299,000 4287 Madeley Rd, Sun 2-4 30. Upper Lonsdale 330 E 25th St, Sun 1-3, $1,288,000 125 E. Queens Rd, Sat 2-4, $1,047,000 177 W Braemar Rd, Sat 2-4, $1,599,000 439 W. 26th St, Sun 1:30-2:30, $719,000 3873 Michener, Sun 2-4, $1,488,000 2525 Jones Ave, Sat/Sun 2-4, $1,399,000 330 E. 26th St, Sun 2-4, $774,000 4260 Prospect Rd, Sun 2-4 221 W. Osborne Rd, Sun 2-4, $1,599,000 775 E. 29th St, Sun 2-4, $825,000 31. Central Lonsdale #1102-120 W. 16th St, Sun 1-2:30, $559,900 #504-160 E. 13th St, Sat/Sun 3:30-5, $369,000 2310 Mahon Ave, Sun 2:30-4:30, $932,500 #805-1515 Eastern Ave, Sat/Sun 2-4, $455,000 #31-135 W. 21st St, Sun 12:15-2:15, $242,000 449 E. 15th St, Sat 2-4, $779,000 #211-150 W. 22nd St, Sat/Sun 2-4, $369,000 538 W. 23rd St, Sun 2-4, $779,000 339 E. 8th St, Sat 2:30-4, $885,000 #213-175 E. 10th St, Sat 1-3/Sun 2-4, $449,000 #1206-1515 Eastern Ave, Sat 2-4 329 E. 16th St, Sun 3-4:15, $879,000 #801-114 W. Keith Rd, Sun 2-4, $509,000 2028 Mahon Ave, Sat/Sun 2-4, $1,150,000 #206-120 W. 17th St, Sun 2-4, $279,000

32. Lower Lonsdale E-136 W. 4th St, Sun 2-4, $569,000 #712-175 W. 2nd St, Sun 2-4, $649,800 #15-288 St. David’s Ave, Sat/Sun 2-4, $429,900 #301-241 St. Andrews Ave, Sat 2-4, $249,900 #201-131 W. 4th St, Sun 2-4, $319,900 145 St. Georges Ave, Sat 12:15-2:15/Sun 2:3-4:30, $323,900 #303-330 E. 1st St, Sun 2-4, $325,000 225 E. 5th St, Sun 2-4, $639,900 The Landing, 103 E. Esplanade, Daily 12-5 #10-249 E. 4th St, Sat/Sun 2-4, $549,000 #1503-120 W. 2nd St, Sun 2:30-4, $669,000 33. Lynn Valley 1268 Dyck Rd, Sat 2-4, $1,499,000 1521 Draycott Rd, Sat 3-5, $998,000 1347 Chamberlain Dr, Sat/Sun 1-3, $749,000 1494 Frederick Rd, Sat 2-4, $769,000 Vicinity, 3025 Baird Rd, Sat/Sun 1-4, From $639,900 3976 Mountain Hwy, Sat/Sun 2-4, $697,300 1611 Page Rd, Sat 2-3:30, $849,000 1881 Ross Rd, Sun 2-4, $799,000 3976 Mountain Hwy, Sat/Sun 2-4, $697,300 1625 Peters Rd, Sun 2-4, $799,000 999 Frederick Rd, Sat 2-4, $869,000 34. Grand Blvd. 1544 Sutherland Ave, Sat/Sun 1-3, $747,000 772 E. Keith Rd, Sun 2-3:30, $699,000 523 E. 10th St, Sun 2-4, $859,500 740 E. 14th St, Sun 2-4, $1,399,000 740 + 746 E. 14th St, Sun 2-4, $1,399,000 523 E. 10th St, Sun 2-4, $859,500 1836 Grand Blvd, Sat 3:30-5, $799,000 2141 Grand Blvd, Sun 2-4, $995,000 524 E. 21st St, Sat 2-4, $998,000 35. Queensbury/Calverhall 440 Moody Ave, Sun 2-4, $998,000 845 E. 4th St, Sun 2-4, $829,000 1060 Adderley St, Sun 2-4, $1,495,000 36. Westlynn 1004 Mountain Hwy, Sat/Sun 3-5, $1,388,000 2620 Viewlynn Dr, Sat 1:30-3, $899,000 1680 Mountain Hwy, Sun 2-4, $969,000 1296 Mountain Hwy, Sun 2-4, $779,000 37. Lynnmour #909-1327 E. Keith Rd, Sun 2-4, $259,000 1301 E. 8th, Sat 1-3, $1,099,000 1205 Lillooet Rd, Sun 2-4, $369,000 1516 Rupert St, Sun 2-4, $569,000 #47-854 Premier St, Sat 1-2:30, $274,900 #302-1327 E. Keith Rd, Sun 2-4, $399,000 #907-1327 E. Keith Rd, Sat/Sun 1-3, $298,800 38. Seymour River 968 Riverside, Sun 2-4, $769,000 1163 Heritage Blvd, Thurs 10-12, $749,000 39. Blueridge 2474 Berton Pl, Sat 2-4, $1,320,000 2715 Standish Dr, Sun 2-4, $849,000 40. Windsor Park no opens 41. Northlands #305-1144 Strathaven Dr, Sun 2-4, $595,000 1734 Larkhall Cr, Sat/Sun 3-5, $1,279,000 2918 Mt Seymour Pkwy, Sat/Sun 2-4, $598,000 42. Indian River no opens 43. Deep Cove 3204 Strathaven Ln, Sat/Sun 2-4 1964 Cliffwood Rd, Sat 11:30-1, $729,000 1053 Deep Cove Rd, Sat/Sun 2-4, $796,000 563 N. Dollarton, Sun 2-4, $829,000 1907 Parkside Lane, Sat 2-3:30, $828,800 4346 Mount Seymour Blvd, Sun 2-4, $1,025,000 44. Roche Point #114-3629 Deercrest Dr, Sat 12-2, $609,000 #403-3608 Deercrest Dr, Sun 1-2:30, $325,000 #510-530 Ravenwoods Dr, Sun 2:30-4, $549,900 #103-995 Roche Pt Dr, Sun 2-4, $429,000 #32-650 Roche Pt. Dr, Sun 2-4, $521,000 Signature Estates, Ravenwoods, Wed/Sat/Sun 12-5 #106-630 Roche Point, Sat/Sun 2-4, $249,000 #308-530 Ravenwoods, Sun 2-4:30, $549,000 45. Dollarton 920 Huntingdon Cres, Sat/Sun 2-4, $799,000 4001 Cummins Pl, Sun 3-4:30, $1,200,000 4125 Fairway Pl, Sun 2-4, $929,000 543 Roslyn Blvd, Sun 12-2, $2,338,800 99. Other Areas 6587 Nelson Ave, Sun 2-4, $849,000 1370 Judd Rd, Squamish, Sat 1-4, $489,000 1678 Depot Rd, Squamish, Sat 1-3, $549,000 #20-40137 Government Rd, Squamish, Sun 1-4, $485,000 The Artisan, Squamish, Fri/Sat 12-4, From $399,000 #2-730 Farrow St, Coquitlam, Sun 2-4, $465,000 #3008-688 Abbott St, Sun 2:30-4:30, $679,000 #1601-1833 Crowe St, Sat/Sun 2-4, $1,835,000 #1607-1833 Crowe St, Sat/Sun 2-4, $689,000 #709-1833 Crowe St, Sat/Sun 2-4, $559,000 Cascade, 2950 Panorama Dr, Coq, Daily 12-5, From $380,000 Millenium Water, 212 W. 1st St, Van, Daily 12-5 (except Fri) Thunderbird Cr, 1006 Condor Pl, Squamish, Sat/Sun 1-4 4239 Eton St, Burnaby, Sun 2-4, $668,000 #818-788 Richards St, Sat 2-4, $649,000

Study Finds 20% of Mortgages Underwater

According to Reuters News nearly 20 percent of home owners owe more on their homes than their properties are worth, finds a new study by First American CoreLogic.

About 8.31 million properties were underwater at the end of 2008, up 9 percent from 7.63 million at the end of September.

Corelogic predicts about 2.16 million properties will be underwater if home prices fall another 5 percent.

The problem is the worst in Arizona, California, Florida, Georgia, Michigan, Nevada, and Ohio.

Nationwide, 68 percent of U.S. adults own their own homes, and about two-thirds have mortgages.

Top 5 Preferences for Kitchen, Bathroom, and More

According to the National Association of Home Builders’ Consumer Preferences survey, these are the features most in demand among today’s buyers.

Top 5 Kitchen Features

1. Walk in pantry: 86 percent
2. Island work area: 80 percent
3. Special use storage (custom made for appliances): 66 percent
4. Built-in microwave: 72 percent
5. Drinking water filtration: 69 percent

Top 5 Bathroom Features

1. Linen closet: 89 percent
2. Exhaust fan: 88 percent
3. Separate shower enclosure: 79 percent
4. Water temperature control: 79 percent
5. Whirlpool tub: 66 percent

Top 5 Specialty Areas

1. Laundry room: 92 percent
2. Dining room: 81 percent
3. Home office: 71 percent
4. Den/library: 63 percent
5. Sun room: 53 percent

Top 5 Decorative Features

1. Ceiling fan: 83 percent
2. Built-in shelving: 70 percent
3. Window seats: 51 percent
4. Woodburning fireplace: 48 percent
5. Gas fireplace: 48 percent

Top 5 Community Features Preferred

1. Walking/jogging trails: 49 percent
2. Park area: 46 percent
3. Outdoor swimming pool: 39 percent
4. Lake: 34 percent
5. Playgrounds: 32 percent

Provincial real estate sales down by one-third in 2008

The British Columbia Real Estate Association reported today that the decline in real estate markets didn’t just affect the Lower Mainland phenomenon in 2008 as the province as a whole saw sales drop by one-third .

Realtors recorded 68,923 sales across B.C. through the Multiple Listing Service, their lowest level since 2000, the BCREA said, when the province recorded 54,179 sales.

The average home price over the 12 months of 2008 was $454,599, a 3.5-per-cent increase from 2007.

BCREA chief economist Cameron Muir said the average price peaked in March at $483,291, and fell 11 per cent to $429,210 in December. And that $429,210 average is six per cent lower than the average price in December, 2007.