How to Prevent Bugs (yuck) in Your Houseplants

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Houseplants can add color and beauty to your home and are relatively low-maintenance comparing to outdoor gardening, which makes them ideal for apartment dwellers. However, you still need to care for them by preventing insects and disease from destroying them.

Gnats, aphids, fruit flies, and spider mites are all common insects that can attack your plants. Fortunately, there are several steps you can take to prevent bugs in your houseplants, which will work best when used in conjunction.

1. Choose the right plants. When selecting houseplants, make certain that you pick species that are suited for the amount of light they are going to experience. Plants in improper lighting conditions suffer from stress, which makes them more susceptible to bug infestations.

2- Make sure your houseplants are potted in sterile soil. While bacteria, fungus, and insects are a vital component of outdoor soil health, houseplants are better planted in store bought potting mix, which will generally be sterile. Using outdoor garden soil can introduce insect larvae into your houseplants.

•Make sure to include a drainage layer of gravel at the bottom of each houseplant pot. Poorly drained soil can saturate the roots, leaving them more susceptible to insect attack.

3- Clean your houseplants regularly. Dust buildup on your houseplants leaves often contains organic compounds (like skin cells or pet hair) that insects can feed on. Furthermore, insects like mites thrive in thick layers of dust and will be less likely to infest a clean plant.

•Large houseplant leaves can be gently wiped with a moistened rag. Use as nonabrasive a cloth as you can find; microfiber cloths work well for this task.

•Plants with many small leaves can be picked up and submerged into a sink full of lukewarm, slightly soapy water. Swish the leaves around a bit and then turn the plant right side up to dry.

4. Monitor your plants for insect damage. Most infestations can be mitigated if you inspect your plants regularly so you can catch the early signs and do something quickly to combat it. Leaves that are discolored, display speckles, mottle, and chewing can be a sign that insects are present.

5. Control existing insect infestations. Prune any discolored leaves away and throw them away. Small insects like aphids and mealybugs can be removed by rubbing the plant's leaves with a cloth moistened with soapy water.

6. Know when to give up on a plant. Unfortunately, houseplants that are badly infested with insects cannot be helped. In this case, it would be best if you throw the plant away before the insects spread to other plants in the house.

Tips for Hiring a Remodeling Contractor

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Finding a qualified contractor for your home remodeling project can be daunting and confusing but it's not a difficult task. You can easily search the web or look in the yellow pages and find many home remodeling contractors listed in your area. But the questions are: Which one do you hire for your home remodeling project? Which one will perform quality work, charge a fair price, and get the job done on time?

By following these tips you will make the selection process easier and be better prepared to make an informed decision that best suites your needs.

1. To reduce the risk of hiring the wrong home contractor you should first do a little preparation yourself for the home remodeling project. Sketch out and write down what you want to get done. Provide a copy of this information to the prospective home remodeling contractor as this will help to minimize misunderstandings of requirements.

2. Visit home improvement centres such as The Home Depot, and look at materials expected to be used on your project. Make note of their costs for you to compare material costs proposed by prospective contractors.

3. When you start to call prospective contractors ask for references and previous work that you can visit.

4. Employ a contractor with an established business in your area. Local firms can be checked through references from past customers in your community. Local contractors are compelled to perform satisfactory work for their business to survive.

5. Contact your local licensing agencies to ensure the contractor meets all requirements.

6. Check the contractor with the government's Consumer Affairs Office and the Better Business Bureau to ensure there is no adverse file on record.

7. Ask to see a copy of the contractor's certificate of insurance to ensure the contractor meets all specifications.

8. Make sure the contractor's insurance coverage meets all the minimum requirements.

9. Be sure that the contract between you and the contractor states exactly what is to be done and how change orders will be handled.

10. Make as small a down payment as possible so you won’t lose a large sum of money if the contractor fails to complete the job.

11. Be sure that the contract states when the work will be finished and what action you can take if it isn’t. Also remember that in many instances you can cancel a contract within three business days of signing it.

12. Ask if the contractor’s workers will do the entire job or whether subcontractors will be hired.

13. Be sure that the contract specifies that the contractor will clean up after the job and be responsible for any damage.

14. Guarantee that materials used meet your specifications.

15. Don’t make the final payment until you’re satisfied with the finished job.

Whether you’re planning an addition to your home for a growing family or simply getting new storm windows, finding a reliable contractor is the first step to a successful and satisfying home improvement project. Finding a good contractor, someone you can trust to do a good job for a fair price and stand behind his or her work could be hard. If you do your homework and follow these tips, you will improve the odds of getting a contractor you will be happy with.

Good Debt vs. Bad Debt

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Being debt free is the ultimate financial goal for most people. There are many articles advising us how to get out of debt, that we may automatically assume that debt is a bad thing. However, not all borrowing is bad.

There are many occasions when debt can actually be a good thing, here are a few examples.

1. Buying a homeMany people cannot afford to buy a house without borrowing.  A mortgage is a big debt, but it is a better financial proposition than renting. Getting a mortgage is like having an investment for the future. It offers the prospective of living debt free in 25-30 years. Furthermore, because it is secured against the value of your house, the interest rate is likely to be relatively low.

Carefully consider how much you can afford to put down and how much of a loan you can carry. The more you put down, the less you'll owe and the less you'll pay in interest over time.

2. Student loansIt is unfortunate that taking a student loan is almost an essential aspect of going to University or College, however, the gain is a good long term investment. A good degree or diploma creates the potential for higher earning power and this extra income is greater than the debt incurred.

It is unwise to borrow against your home to cover for your children’s tuition. If you run into financial difficulties down the road, you may risk losing your home. Your best bet is to save what you can for your kids' educations without compromising your own financial health. Then let your kids borrow what you can't provide, especially if they are eligible for a government-backed student loans. Such loans have guaranteed low rates; no interest payments are due until after graduation; and interest paid is tax-deductible under certain circumstances.

3. Building your credit historyBorrowing through loans or credit cards helps you build your credit history. However, in such cases, you should arrange to pay the credit card balance on monthly basis and avoid paying high interest on the purchasers made on your credit card.

4. Loans for investmentsSome of your debt might be considered an investment. If you took on the debt to purchase something that will increase in value and can contribute to your overall financial health, then it’s very possible that debt is a good one.

Avoiding debt at any cost is not wise if it means depleting your cash reserves for emergencies. If the debt is used to purchase an asset, make sure that the utility or financial return from the asset is higher than the cost of debt. It is also important to ensure that you are not overleveraged where your borrowings exceed your assets or where you have trouble servicing the loans. Any debt which is taken after you are overleveraged is not advisable, regardless of its purpose.

Decorating With Books

 

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Books are entertaining and enlightening and can be a beautiful decorative element in a room if you learn how to display them in an effective way.

Here are a few tips for incorporating books as part of your décor!

Sort your books following any criteria you want. If decorating is your main concern, focus on sorting by age, binding or colour, or  you can sort based on the content of your books.

Decide on the best place in your home to decorate with books. Look for spaces that aren't cluttered and can use some visual interest. Also look for wall space where you can place a bookcase.

Use bookcases as decorating tools by focusing on the theme of your books. If you have a large number of beautifully bound older books, place these books together to create dramatic interest. Shelving books according to their height can add a pleasing order on the bookshelves and compliment your décor. Create interest with the bookcases themselves by using a floor-to-ceiling bookcase or shelf to add drama to any room, regardless of the books it houses.

Display individual books on tables and other surfaces. You can use the classic coffee table display as you decorate and set one or more especially attractive books on the table. However, if you think more broadly, you can find more surfaces to decorate. A small shelf may be a perfect display for a book with an unusual cover or you might find that a small book fits perfectly in your pantry, bringing you a smile each time you see it.

Hardcover books look much better and more decorative without the dust jacket. The bindings are usually printed with nice script, and the colours give the book more of a classical look.

Books are great for elevating lamps that aren't quite tall enough or for bases used for staggering pictures or candlesticks on a dresser or table. Varying heights create more visual interest, and the combination of books and pictures and candles or a lamp is always a great vignette!

Need an end table? Stack sturdy books to the height you need. You can even place a tray or basket on top to hold a snack, phone or remote!

Place a square woven bamboo basket with books on a hearth, or to break up a bookshelf. Use cookbooks on a kitchen counter or in a corner display paired with platters, pitchers or a serving bowl. Using an easel, rotate cookbooks and show off the covers if they are pretty and work with seasons—Christmas baking, soups, etc.

Place books around your home to draw attention to the function of a room or a corner. If you have a large book collection and to want make a statement in a room, build or purchase enough narrow bookshelves to fill one wall of a room, or one side of a wide hallway. You'll get lots of storage in only 12” to 15" of floor space.

Remember that you'll want to read the books from time to time, so make sure they are easily accessible.

Dining Room Decorationg tips

                                                   
The ideal dining room design must be dynamic enough to satisfy the role of a functional feasting ground in addition to providing an intimate setting for a social gathering among friends and family.

 One of the great benefits a dining room offers is being able to implement themes into the dining room. Restaurants are great examples of this technique as most restaurants typically develop a design to match the foods that they prepare. A dining room design has no real limitations so long as its two functional roles remain intact.

The dining room should be a calm and peaceful place. If you don't have a formal dining room, do what you can to make the area where you have your meals as separate and quiet as possible.

Work with your space: ne of the most important rules for designing a dining area is to work with the layout and architecture of your home. Don't try to cram an elegant and long rectangular area into a circular breakfast nook. This concept may sound obvious, but you'd be surprised how often people try to use furniture that just doesn't fit. They fall in love with a dining set and they just have to have it without putting thought into how the set will fit into the space.

Make a wide access point directly into the dining room to build a more open look and feel. Use a lighter window finishing, and place mirrors to reflect light and achieve the impression of larger space
.
Dining room table and chairs: it is important to select a table that really fits inside the dining space. Ensure that the table you choose will provide plenty of room for family and friends to navigate all sides of the table while simultaneously offering adequate amounts of table space for each dining participant.

Simple square shaped dining tables offer elegant dining arrangements and are a best fit for an intimate couple and small families, keeping the dining occasions personal and sometimes intimate. Lighting candles atop a square table reaches an intimacy level that is unmatched by any other shape.
Tables of rectangular design are generally larger than most square tables and provide six or more seats. Rectangles are not as elegant by nature as circles and oval shapes, and therefore a rectangular table may not reach the same level of formalities as an elliptical table setting.
Rectangular tables are ideal in casual dining surroundings such as combination kitchen and dining rooms.

Flooring and area rugs: When it comes to flooring consider a wood, ceramic or stone type of product. These materials look the nicest, and they are easier to keep clean in the event of food spills.
Use an area rug under the dining table to help define and soften the dining space and bring the colours of the dining room together.  Area rugs should be large enough so that the back legs of chairs do not drop off the rug when someone is dining.

Lighting: Lighting is an important element in creating a nice dining environment. The flow of energy through the dining room should be gentle but not stagnant. Use candles, lower wattage bulbs, or a dimmer switch to bring the energy level down a little, especially at the end of a hectic day. Soft candlelight provides the ultimate setting for a romantic experience.

Pictures and paintings: Wall colour should remain fairly neutral and fade into the background of the room. Save darker tones to compliment brighter shades, and splash lighter colours onto the walls themselves.

Let the colours of tablecloths, picture frames, window sheers, furniture, and other decorations contrast wall colours and implement your bolder tones through decor rather than wall paint or trim. A typical colour scheme might include two complimenting colours for the dining room walls and trim, and then matching two to three more shades of decoration with the wall and trim colours.

Accessories: Built-in cabinetry with some open or glass fronts in the dining area can provide a dramatic place to display a collection of your china, serving dishes, etc.

Your beautiful table linens and good silverware should be used from time to time, so you can enjoy them in the present instead of waiting for some future date to use them. Plan a special

 sit-down-together dinner with your partner or family one night a month (or more often, if you can). Making this a regular event reinforces how special your loved ones are to you. Using a tablecloth, rather than individual placemats, encourages closeness among family members.

Contact me for a Free Home Value Report by going to www.kimlouie.net!

Pricing Strategies to Help Your Home Sell

Getting your home sold quickly and for a fair price is challenging in any market. While there are real estate agents who focus on such things as staging and making small repairs, strategic pricing is even more important. Buyers who begin their home search on the Internet often filter their choices by price first, so listing your home at a competitive value will get more eyes on your property.
Many homes are discarded by prospective buyers as not being in the appropriate price range before they even have a chance of a showing.

Your asking price is often your home's "first impression", and if you want to receive the most money you can for your home, it's imperative that you make a good first impression.
Setting the asking price of your property is as much about knowing how buyers think as it is about how much the property is worth.

1. Price it rightIn order to set the right price, check out your competition first. A little real-estate research can be handy. Take a look at homes sold in your neighbourhood. Ask yourself: what are they selling for? How long have they been on the market? Study the supply and demand within your neighbourhood to consider whether to price your home above or below the market value.

Pricing your home lower than your competitors can essentially generate more offers, thereby driving the price higher. On the other hand, price it too high and you risk buyers going into “sticker shock”.

2. The missing penny trickTo grab the attention of potential buyers, Take a pricing tip from discount retailers like Wal-Mart. Take, for example, $19.99 vs. $20.00. While it is only a penny difference between the two, the $19.99 price seems like a better deal! Why? Because when people see a price, they make judgements in a fraction of a second whether it is a good or bad deal. And, since we read from left to right, the first number receives the most focus. Therefore, a home listing for $199,999 will generate more attention then $200,000 because people will perceive $199,999 to be a better deal. Retailers have been using this proven strategy for a long time; make it work for you.

3. Raise the reference pointYou can raise people’s reference point by asking for a higher price. People use that information in setting their reference price. In addition, you can affect the reference price of buyers by telling them the price of competing properties in the neighbourhood. However, pass along this information only if the comparisons are in your favour.

On the other hand, if you set a price that is implausibly higher, the impact will be less than if you set a price that's more reasonable.

4. Send the right messagePeople associate precise numbers with bargains. If a house should sell for around $300,000, then offering a round number like $295,000 will convey quality and willingness to negotiate, and choosing a higher but precise number like $295,485 would indicate a bargain.

A precise number may also signal that you have given careful consideration to the price and you aren't inclined to negotiate, however, you may want to use this trick with caution.

5. Setting the asking price. If your home is in a new development and you want to give the impression of prestige, go for a nicely rounded (up) price. But if you're going for a quick sale and you want to give the impression of a bargain, go for a precise number.

6. Make the price cuts easy-to-understandWe perceive easily computable discounts as better than larger discounts. A discount from $395,485 to $385,485 might seem better than from $395,485 to $378,495.

When a home has been on the market too long and very few offers have been made, the logical option is to reduce the asking price. But by how much? The trick here is to reduce the price by a nice, easy-to-calculate number so buyers can easily calculate their savings.

The longer your house sits on the market, the less cash it commands. Use these expert tricks to sell your house fast and maximize your profit.

Contact me at www.kimlouie.net for a free Home Value Report or to chat about the current real estate market.

November 2017 Kitchener-Waterloo Home Sales Stats and Average Prices

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Last month a total of 425 residential properties sold in Kitchener-Waterloo and area through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR). Home sales in November were down 20.1 per cent compared to the same month last year, but on par with the previous 5-year November average of 424 sales.


November’s sales included 246 detached homes (down 30.9 per cent), and 99 condominium units (down 15.4 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 52 semi-detached homes (up 67.7 per cent) and 27 freehold townhouses (down 3.6 per cent).

"Last month’s sales levels were typical for November," says James Craig, President of KWAR. "The twenty percent drop compared to last year is relative to November 2016’s record breaking month".

The average price of all residential properties sold last month increased 8 per cent to $445,363 compared to November 2016. Detached homes sold for an average price of $515,721, an increase of 8.9 per cent compared to November 2016. During this same period, the average sale price for an apartment style condominium was $277,660 for an increase of 30.7 per cent. Townhomes and semis sold for an average of $369,678 (up 19.3 per cent) and $376,677 (up 15.1 per cent) respectively.

The median price of all residential properties sold in November increased 9.7 per cent to $415,000, and the median price of a detached home during the same period increased 12.1 per cent to $476,500.

REALTORS® listed 601 residential properties in K-W and area last month, a 22.6 per cent increase compared to November of 2016. The number of active residential listings on the KWAR’s MLS® System to the end of November totalled 740, which is 50 per cent more than November of last year, but still well below the previous five-year average of 1,318 listings for November.

"Kitchener-Waterloo’s housing market continues to be in favour of sellers, however with listings trending higher, we are seeing more balance," says Craig.

"While the majority of MLS® System activity is properties for sale, we are noticing more residential properties for lease," commented Craig. "In fact, last month there were 42 residential properties leased, which is an increase of 83% compared to November of 2016."
 

Commonly Used Terms for Mortgages Every Buyer Should Know

 Taking out a mortgage can be intimidating, there are many terms that might be unfamiliar to you as you go through the process. Here are the most common mortgage terms we think every homebuyer should know.
Amortization
This is a schedule that outlines your loan payments for the duration of the home buying loan. It details how much of each monthly payment goes toward the principal and how much goes toward the loan interest. Initially, the bulk of your payments will be applied toward the interest.
Appraised Value
An estimate of a property’s market value, used by lenders in determining the amount of the mortgage. Usually made by a qualified professional called an “appraiser”.
Assessment
The value of a property, set by the local municipality, for the purposes of calculating property tax.
Assumable Mortgage
A mortgage held on a property by the seller that can be taken over by the buyer, who then accepts responsibility for making the mortgage payments.
Blended Mortgage
A combination of two mortgages, one with a higher interest rate than the other, to create a new mortgage with an interest rate somewhere between the two original rates.
Bridge Financing Interim financing to bridge between the closing date on the purchase of the new home and the closing date on the sale of the current home.
Buy-down
When the seller reduces the interest rate on a mortgage by paying the difference between the reduced rate and market rate directly to the lender, or to the purchaser, in one lump sum or monthly instalments.
Canada Mortgage and Housing Corporation (CMHC)
The National Housing Act (NHA) authorized Canada Mortgage and Housing Corporation (CMHC) to operate a Mortgage Insurance Fund which protects NHA Approved Lenders from losses resulting from borrower default.
Closed Mortgage
A mortgage that cannot be prepaid, renegotiated or refinanced during its term.
Commitment
A notice from a mortgage lender to a prospective borrower that the lender will advance mortgage funds of a specified amount under certain conditions.
Conventional Mortgage
A mortgage loan of up to a maximum of 75% of the lending value of the property for which a lender does not require loan insurance.
Debt Service Ratio
The percentage of a borrower’s income that can be used for housing costs. Gross Debt Service (GDS) Ratio is the amount that a lender will permit a borrower to use from his/her gross income in order to qualify for a loan for housing costs, including mortgage payment and taxes (and condominium fees, when applicable). Total Debt Service (TDS) Ratio is the maximum percentage of a borrower’s income that a lender will consider for all debt repayment (other loans and credit cards, etc.) including a mortgage.
Default
Non-payment of instalments due under the terms of the mortgage.
Discharge
The removal of all mortgages and financial encumbrances on the property.
Equity
The difference between the price for which a property can be sold and the mortgage(s) on the property. Equity is the owner’s “stake” in a property.
First Mortgage
The first security registered on a property. Additional mortgages secured against the property are “secondary” to the first mortgage.
Foreclosure
A legal process by which the lender takes possession and ownership of a property when the borrower doesn’t meet the mortgage obligations.
Gross Debt Service (GDS) Ratio
The percentage of gross income required to cover monthly payments associated with housing costs. Most lenders recommend that the GDS ratio be no more than 32% of your gross (before tax) monthly income.
Gross Household Income
Is the total salary, wages, commissions and other assured income, before deductions, by all household members who are co-applicants for the mortgage.
Hazard Insurance
An insurance policy required by lenders to protect a property against damage or loss caused by fire, weather, etc.
High Ratio Mortgage
A mortgage that exceeds 75% of the loan-to-value ratio; must be insured by either the Canada Mortgage and Housing Corporation (CMHC) or a private insurer to protect the lender against default by the borrower who has less equity invested in the property.
Hold-back
An amount of money withheld by the lender during the progress of construction of a house to ensure that construction is satisfactory at every stage. The amount of hold-back is generally equivalent to the estimated cost to complete construction.
Interest Rate Differential Amount (IRD)
An IRD amount is a compensation charge that may apply if you pay off your mortgage principal prior to the maturity date or pay the mortgage principal down beyond the prepayment privilege amount. The IRD amount is calculated on the amount being prepaid using an interest rate equal to the difference between your existing mortgage interest rate and the interest rate that we can now charge when re-lending the funds for the remaining term of the mortgage. For more information, click on compensation amounts.
Interim Financing
Short-term financing to help a buyer bridge the gap between the closing date on the purchase of a new home and the closing date on the sale of the current home.
Maturity Date
Last day of the term of the mortgage agreement.
Mortgage
A contract between a borrower and a lender. The borrower pledges a property as security to guarantee repayment of the mortgage debt.
Mortgage Broker
A licensed individual who, for a fee, brings together a borrower in search of a mortgage and a lender willing to issue that mortgage.
Mortgage Insurance Premium
A premium which is added to the mortgage and paid by the borrower over the life of the mortgage. The mortgage insurance insures the lender against loss in case of default on the part of the borrower.
Mortgage Life Insurance
A form of reducing term insurance available for all mortgagors. In the event of the death of the owner or one of the owners, the insurance pays the balance owing on the mortgage. The intent is to protect survivors from losing their home.
Mortgage Payment
The regular instalments made towards paying back the principal and interest on a mortgage.
Mortgage Term
The length of time a lender will loan mortgage funds to a borrower. Most mortgage terms run from six months to five years, after which the borrower can either repay the balance (remaining principal) of the mortgage, or renegotiate the mortgage for another term.
Mortgage Prepayment Penalty
A fee paid by the borrower to the lender in exchange for being permitted to break a contract (a mortgage agreement); usually three months’ interest, but it can be a higher or it can be the equivalent of the loss of interest to the lender.
Mortgagee
The entity who lends the money.
Mortgagor
The entity who borrows the money. The borrower pledges a property as security to guarantee repayment of the mortgage debt.
Open Mortgage
A mortgage that can be prepaid or renegotiated at any time and in any amount without penalty.
Payment Frequency
The choice of making regular mortgage payments every week, every other week, twice a month or monthly.
Principal
The mortgage amount initially borrowed or the portion still owing on the mortgage. Interest is calculated on the principal amount.

P, I & T
Principal, interest and taxes due on a mortgage.
P & I
Principal and interest due on a mortgage.

October K-W Average Home Prices remain strong as inventory is still low

Last month a total of 481 residential properties sold in KitchenerWaterloo and area through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR).  Home sales in October were down 16.6 per cent compared to the same month last year, but still above the previous 5-year October average of 464 sales.

On a year-to-date basis 5,842 residential units have sold compared to 5,816 during the same period in 2016, an increase of 0.4 per cent.

October’s sales included 289 detached homes (down 20.2 per cent), and 107 condominium units (down 17.7 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 44 semi-detached homes (down 7.3 per cent) and 38 freehold townhouses (down 2.6 per cent).   

The average price of all residential properties sold last month increased 11.4 per cent to $454,398 compared to October 2016. Detached homes sold for an average price of $541,368, an increase of 13.1 per cent compared to October 2016. During this same period, the average sale price for an apartment style condominium was $249,993 for an increase of 11 per cent. Townhomes and semis sold for an average of $349,316 (up 13.7 per cent) and $354,668 (up 8 per cent) respectively. 

The median price of all residential properties sold in October increased 11.7 per cent to $419,000, and the median price of a detached home during the same period increased 10.2 per cent to $484,000.

“While the number of home sold so far this year is pretty much on pace with last year’s record breaking results, the demand from buyers continues to outpace new listings entering the market,” says James Craig, President of KWAR.

“I anticipate this continuing for the remainder of the year while buyers rush to beat the additional mortgage changes.”
Last month the Office of the Superintendent of Financial Institutions Canada (OSFI) revised it residential mortgage underwriting practices, which come into effect on January 1, 2018. The change will require the minimum qualifying rate for uninsured mortgages to be the greater of the five-year benchmark rate published by the Bank of Canada or the contractual mortgage rate +2%.

The number of active residential listings on the KWAR’s MLS® System to the end of October totalled 830, which is ahead of October of last year, but well below the previous five-year average of 1,522 listings for October. 

The average days on market in October was 24, compared to 27 days in 2016. On a month to month basis, it took two fewer days on average from list to sale date in October compared to September.

Contact me at www.kimlouie.net for a free home value report or th chat about the local real estate market!

How Smart is Your Home?

Smart home products are quickly catching on with consumers ranging from front doors that unlock as you come up the walkway, robot lawnmowers that keep your grass trimmed, remote controlled thermostats and lighting, to home monitoring cameras. What was once science fiction, or conveniences seen on the TV show the Jetsons, “Smart” technology has become today's reality.

This new trend has widespread implications for those people thinking about selling their home or shopping for a new home. A 2015 Real Estate Survey showed that 81% of home owners are more likely to purchase a home with Smart home technology installed. According to the survey, 33% of agents said homes with Smart technology sold faster than those without.

What does Smart home technology looks like today?
Any device in your home that uses electricity can be put on your home network and at your command. Whether you give the command by voice, remote control, tablet or Smart phone, the home reacts. The main idea for Smart homes is that we’re building intelligent living spaces that take care of us instead of the opposite.

Smart home technology isn’t just a new gimmick, it is a practical way to make your home greener, saving you time and money without lifting a finger. A few examples include:
1. Home Automation
What if your home could sense when you were awake and adjust the lights or thermostat accordingly? What if your baby monitor alerted you to your baby’s sleep activity and comfort level? And what if your refrigerator could detect when you’re low on groceries and then send your car a reminder to go to the grocery store.
It’s hardly a far-fetched thing today. Wireless Smart home technologies such as Nest and Zigbee have made it easier than ever to automate your home or control aspects of it from a Smart phone or tablet.
Nest, for instance, works with compatible Smart appliances— including Philips HUE lighting and Logitech remotes—to set your home on autopilot. Observe any room without getting up from the couch with easy-to-install cameras; set your remote control to also warm up your living room when you settle in for movie night; or even get updates on your pet’s eating habits while you’re at work.

2. Home security systemsThe next most popular type of Smart home technology that people currently have installed in their home according to the survey is Smart home security. In addition to traditional systems, these may include video monitors inside and outside the house that you can view on a Smart phone from anywhere you happen to be.

3- Home entertainments systems
No Smart home would be complete without the right entertainment system to compliment your lifestyle. A Smart home has you covered, from a superior 4K TV experience with a billion colours, to in-wall sound bars and outdoor speakers.

The Smart home industry is moving forward
While we all likely have more than a few Internet-connected devices already in our homes—whether it’s a Wi-Fi enabled game console, a Smart TV, or a connected security solution—these are piecemeal solutions. A truly Smart home is one that connects multiple systems into one system and collects and responds to data.

The Smart home industry is still moving forward, many companies are already pouring millions of dollars into developing technologies that seamlessly integrate our digital and physical worlds within our cars and homes and we are about to see the fruits of this movement in the near future.

Contact me today for a Free Home Value Report or for answers to all your real estate questions at www.kimlouie.net!

Buying a Condo as an Investment

Not too many years ago, buying a condo was considered a compromise move. Condos are more affordable, particularly for first-time buyers who have a tough time breaking into the housing market. Until recently the cheap entry fee entitled you to apartment-style living, no yard to call your own and lusterless appreciation—not an attractive package to most home buyers.



This may be changing. Latest statistics from Canadian Mortgage and Housing Corporation (CMHC) show condos make sense for investment or ownership. Rentals are increasing every year according to recent market statistics. 

New construction favouring condos.Recent statistics show that construction of condos is actually increasing. New construction of singles and semis has fallen steadily since 2002. Young people seeking a downtown lifestyle, empty nesters downsizing, and people tired of commuting, all make condos extremely popular and support a robust market.

Hi-rise sales stable
Condo sales have had some ups and downs, but sales volume by year has been quite steady. The rental market for condos is improving as potential first-time buyers postpone home purchases in favour of renting. Renters are less inclined to leave their apartments and pursue home ownership.

Is a condo a good investment?
As with any real estate, a condo could be a good or bad investment. It all depends on the building and the market. There are some great condo investments in many areas around the country and there are also some bad investments.

The condo situation looks promising. The percentage of total sales is expected to continue rising this year. Condos are selling well and renting well, making them a good investment whether you're planning on moving in or leasing out.

Condo buying tips
Look for a condo that's in a development that has a high ratio of owner-occupants to renters. Some lenders won't lend on condos that have a high rate of absentee ownership. Also, owner occupants tend to be more concerned about keeping things going well in the development.

Find out what the condo fees are and what is covered by this fee and include it in your costing. Some condos prohibit pets, and some have parking, storage and renting restrictions. Read and understand the Covenants, Conditions and Restrictions (CC&Rs) and any other pertinent governing documents before you complete a purchase.

It's usually best to avoid buying into a condo complex where the homeowner's association is involved in litigation. To find out if there are any other association issues that you might want to avoid, read copies of the minutes from recent homeowner's association meetings. One of the best ways to get the straight scoop on a condo project is to talk with some of the current residents. Find out what they like and what they don't like about living there before you decide to buy.

What are the tax, legal, and financing considerations?
If you decide to invest in a condominium rental property, many of your personal expenses may be deducted from income in addition to the normal tax deductions such as mortgage, interest, depreciation, and other condominium-related expenses. For example, you would normally be entitled to set up a small office in your current residence for managing your investments, which would include keeping your records. You could deduct a percentage of all your home-related expenses. The normal formula is to take the square footage of the office area that you are using relative to the total square footage in your home. In general terms, 10% to 15% or more is usually deducted for that portion.

In addition, you would be entitled to deduct a part of the car-related expenses involved in managing your investment portfolio, whether it is one rental property or more than one. The percentage of all your car-related expenses can vary, obviously depending on the usage of the car relating to your investment.

If you are seriously contemplating investing in a condominium, it is important to consult your real estate agent and seek the advice of a competent tax and accounting professional, and legal advice from a lawyer specializing in condominium law.

Contact me today for a Free Home Value Report or for answers to all your real estate questions at www.kimlouie.net!

Energy Saving Tips for Your Home

With energy costs eating up a larger portion of our income more than ever before, it is very important to take all possible measure to conserve energy.  Here are some tips to help you save energy, save money, and do your part for the environment.

Heating and Cooling
About 60% of energy costs in a typical home are tied up in heating and cooling and 20% in hot water. So, these are the first places to look when it comes to saving energy.

Consider installing a programmable thermostat. In summer set the thermostat at 24°C while you are at home, and 28°C when you are away. Every degree you raise can reduce your cooling bill by about 2.5%.

In winter, set the thermostat to 21ºC during the day and to 18ºC when you are sleeping and 15ºC when you are out.
Wrap your electric water heater in an insulation wrap. This reduces 8-10% of hot water heater energy usage.

Apply caulking and weather stripping around drafty doors and windows to keep the cold air out in the winter (or hot air out in the summer). Proper weather-stripping, caulking, and insulation can save 5 to 15% of that heat loss.

Shade your outdoor central air conditioning unit with trees or shrubs making sure you do not block air flow around the unit. This can reduce 10% of your electricity use.

Clean the furnace filter monthly and replace it every three months. Check air vents regularly to ensure nothing is preventing the air from circulating freely.

It's a simple scientific fact: heat moves toward cold. In winter, heat moves toward the windows and doors and if your home windows are not insulated properly, up to 50% of all heat inside a home could be lost. Having thermally-isolated windows and a thick window covering will help reduce heat loss considerably.

Lighting
Keep fixtures and bulbs clean. Dirt can absorb as much as 50% of the light. Always turn off the lights when leaving a room, even if it’s only for a few minutes. It’s just a myth that it takes more energy to turn a light on than to leave it on.

Try to position floor or table lamps in a corner. This allows light to reflect from the walls, making the room brighter without turning on more lights.

Replace traditional light bulbs with compact fluorescent bulbs (CFL). CFLs use up to 75% less energy than comparable standard light bulbs and can last up to 10 times longer.

Kitchen and Bathrooms
Switch non-essential chores from the peak times to earlier in the day or even overnight when electricity demand and rate is less.

Install water efficient low-flow showerheads and faucet aerators and install an ultra low-flow toilet or an early closure valve. Take showers instead of baths – they use less water.

Keep refrigerators and freezers out of direct sunlight, and allow at least 5 centimeters all around (or as recommended by the manufacturer) to allow heat to escape from the compressor and condensing coil. Allow hot foods to cool before putting them in the refrigerator.

The stove is another big energy guzzler. If you put aluminum foil on the bottom of the oven to catch drippings, make sure the foil does not block any of the oven’s circulation holes and don’t put foil on the oven racks.

Use an electric kettle to boil water – not the stove, which is less efficient. Thaw frozen foods in the refrigerator before cooking, unless the label says otherwise.

Turn off the oven just before finishing – the oven will remain hot long enough to complete the job.
Don’t use a bigger pot than you need, and match it to the right size element.

Home Office and Living Room
Even when appliances are turned off, they continue to draw electricity. Unplug them when not in use. Turn off unnecessary lights in the house (they produce a lot of heat which works against the air conditioning.)

Using screen savers doesn't save any energy. Activate energy saving settings on your computer or turn off your monitor when you are away from the computer.
Use area rugs on cold floors. If your feet are cold, your body will feel cold so rather than turning up the thermostat, put on a sweater.

Open draperies during the day on south-facing windows and let the sun heat your rooms naturally. Close your drapes and blinds during the night to reduce heat loss.

Installing ceiling fans can help to lower energy use in both the summer and winter. In summer, set your fan counter-clockwise to produce a cooling breeze. In the winter, set it clockwise to push warm air accumulated near the ceiling down back into the room.

Dishwashers and Washing Machines
If your dishwasher has the option, choose air drying rather than heat drying. If not, stop the machine before the drying cycle starts and open the door to let dishes air dry. By doing so, you can reduce the dishwasher’s energy use by 10%.

Avoid running small loads in your washing machine. You can save 1% on your energy costs by loading your washing machine to capacity before running the cycle.

Wash laundry in cold water whenever possible. Rinsing your clothes in hot or warm water won’t make your laundry any cleaner. Select your washing machine’s cold water rinse and save 4% in energy costs.

Energy saving is a hot topic! Talk about it with your friends and family. Discuss and share ideas and learn about how each of you can do better. Most likely you will come up with some creative ideas that are fun and can save you up to hundreds of dollars each year. Learn about how this topic fits into broader scale environmental initiatives and the role we as energy consumers could play to save mother earth.

Contact me at www.kimlouie.net for a free Home Value Report or to discuss the current real estate market!

Buying a Home in a Tight Market

The real estate market is tight and becoming more competitive in many areas across the country. Inventory is below average and home prices are rising as inventory shrinks, mostly in large cities.

There are several areas where buyer demand has increased while the inventory has decreased. In the last few months, it has not been unusual for a house to be shown to prospective buyers by more than six agents on the first day on the market. In many occasions, a decisive buyer has jumped in and bought the home, while others are calling and asking if the seller would pay closing costs, leave the drapes, and leave the hot tub.

If you want to increase your chances of obtaining your "dream" home and lowering your chances of losing out to another buyer here are some great tips:

1. Get pre-qualified for a mortgage.  You'll be able to make a firm commitment to buy and your offer will be more desirable to the seller.

2. Stay in close contact with your agent and clearly express your needs. Request your agent to be notifying you as soon as a home that fits your criteria goes on the market. Be ready to see the house on a short notice - if it is a great home, it will go fast.

3. Keep in mind that there's no such thing as the "perfect" home especially if you're in a market where prices have been consistently rising. Instead, set priorities. Determine what you're willing to sacrifice.

 4. Be ready to make a decision.  Spend a lot of time in advance deciding what you must have in a home so you won't be unsure when you have the chance to make an offer.

5. Bid competitively.  You may not want to start out offering the absolute highest price you can afford, but don't go too low to get a deal. In a tight market, you'll lose out.

6. Keep contingencies to a minimum.  Restrictions such as needing your father to see the home, or wanting to delay the closing 60-90 days can make your offer unappealing.  In a tight market, you want to stand out as the most appealing buyer for the home.

7. Get a professional inspection before you buy the home and sign the final mortgage loan papers. Otherwise, you'll be left in the dark about any hidden defects in the property.
Most importantly, if you're determined that now is the time to buy, don't be timid. You'll need to be ready to act on a moment's notice and present an attractive offer as soon as you see that close-to-perfect home that hits the market.

Contact me at www.kimlouie.net for a free Home Value Report or to discuss the current real estate market!