Photos Make the Sale

Since many buyers are turning to the internet to shop before they take a drive around neighbourhoods, photography can make the difference in selling your home quickly.
 
A picture says a thousand words, and with the right listing pictures, you can attract more people to your property by showing your home’s highlights. Below are tips on how you can take the best quality pictures of your property to showcase it so it stands out from the rest.
 
Clean the entire house before taking photos.
Never take photographs of a dirty home. Remove all trash cans from rooms being photographed. Tidy up any clutter and remove personal photos and drawings from refrigerators and bulletin boards.
 
Think about the picture before you take it.
What are you trying to show in the photo?  Do you want to move or remove anything before you take it?
 
Highlight the best features of your home.
Do any of your rooms have spectacular views? You can take pictures of your rooms to show off their views. Let the potential purchaser imagine themselves standing in the room with the view. They will appreciate the picture more knowing where they will be able to enjoy the view when they purchase the home.
 
A general photography rule of thumb is the closer the subject, the better the photo.  However, it may be useful to take a few steps back or use a wide-angle lens to give the viewer more context and make your home seem more spacious.
 
Take a shot of every part of the house including the living room, kitchen, dining room, and other key areas of your home.
 
Pay attention to lighting.
Lighting is the key to good photography, and you must choose the optimum time of the day for the shot, typically when the sun is behind you. If the front of the house faces east, the morning is the best time.  If the front faces west you want to take your pictures in the late afternoon.

A good general time of the day is around noon or early afternoon on a sunny day for most exterior pictures since the sun is overhead and there are few shadows.  If it is overcast you can set your camera to a slower shutter speed to absorb more light and create a brighter image.

The light source also affects colour. When the sun is lower in the sky, either in the morning or in the late afternoon, you get a more intense colour. This time of day makes the sky pop blue and the house shows off its best colour. High noon overhead sunlight tends to wash out colour.

Cloudy and overcast days can often provide surprisingly wonderful diffused light that can bring out great colour, although shots like this lack the bright blue sky in the background.

For dramatic evening photography, turn on all the house lights, and take the picture after sunset but before it is totally dark.  You will see light coming out of the windows, however, there will be enough exterior light to capture the details of the house.

For interior room photography avoid mid-day, since on sunny days the light coming in the windows will be too bright.  The best times are after daybreak and just before sunset.  Use a powerful flash or turn on all the lights.

Take many shots.
If you are using a digital camera, you can take multiple shots of the same room and then pick which one looks best. You can try different angles and pick the winning view of the room.

You can touch up your pictures on your computer software including brightening up a darker picture. After you have a look at your pictures, you will have a better idea of how to improve them. Some indoor pictures can look too warm due to the lighting. You can always reduce certain colours with your photo editing software to make it look more natural.

Consider hiring a professional real estate photographer.
Many real estate agents and homeowners simply do not have the time, equipment, or skills necessary to take good photographs of a home or building they are listing for sale. Professional photography is provided by many brokerages as an optional service and the price is extremely reasonable.

Photos of your home are the first introduction of your new listing to the world. This is the visual element that captures the imagination of buyers and sends them running to contact you for a first look.

Choosing Outdoor Patio Furniture

Patio furniture can greatly enhance your outdoor living space.  By choosing your patio furniture wisely you will not only create a great outdoor ambience but will also extend your inside décor to the patio and backyard.  

Choosing patio furniture should not be a hard decision. There are many types of outdoor furniture to choose from.  Taking a walk through a home improvement store, a patio furniture store, or a garden centre during the spring and summer months will remind you of the many types and styles of furniture that are available.  Since there are so many options, selecting outdoor patio furniture or accessories to suit your decorating style should be a breeze.

Several factors should be taken into consideration: price, style and landscaping:

When it comes to price, you need to examine your budget carefully. While it’s true you get what you pay for, it is possible to get an excellent deal for a high quality product. Your comfortable patio furniture should not be a place where you skimp on money because it is an investment that will last for years to come. It is important to remember though, price doesn’t always equate to quality.

There are several different styles of comfortable patio furniture and what you choose will depend on your personal taste. Outdoor furniture is most commonly made out of wood, metal, plastic, wicker, or a combination thereof. Choose a style you like that fits your budget. Focus mostly on the cushions themselves–some sets may not come with them–because this is where your comfort is going to come from. Some sets may offer more comfortable cushions than others. Who wants to sit on the bare furniture? When you choose the material, consider the climate you live in and how well it will hold against the elements.

Depending on the number of people you wish to seat and the available space, you will need to choose something suitable from the many outdoor furniture sets on the market. It's a good idea to choose something that has matching seats, benches and canopies if you want a co-ordinated look. For some people, outdoor tables may be all that is required, either because they already have other outdoor furniture and simply want to accommodate more people or because they want to have additional table space for all the extra food, drinks and tableware that goes with outdoor entertaining.

You should measure and plan where you will put the furniture to ensure you have room for the entire set, including an umbrella to provide shade.

Finally, it is important to remember that most outdoor furniture requires maintenance.  It may require re-staining, steam-cleaning or covering during harsh weather periods.  Be sure to know what maintenance your outdoor furniture requires as this will add to the cost of the furniture over the long run.

Making the Most Out of Your Garden

A home garden can reward you with beautiful, fragrant flowers or a bountiful vegetable, fruit, and herb harvest. No matter what you're growing, there are some essentials every garden needs. Sunshine, water, and good soil are the basic necessities, but if you really want to go the extra mile, you can coax your garden into producing prize-winning specimens with a little work and some gardening know-how.

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1. Clean up, blow, and rake: Start the spring cleaning when the snow has melted and the soil has dried a bit. Rake or blow away layers of leaves that can lead to the grass moulding or decaying.

2. Clear away weeds: Get rid of any weeds as early as possible, before the sun gives them energy to start growing. Also, be sure to cut away withered leaves and grass from cultivated parts of the garden.

3. Loosen the soil: This makes it possible for the oxygen to reach the roots of the plants – and makes for a better-looking flowerbed. In smaller beds, hand tools do the trick to loosen the soil but if you're working with larger areas, a rotary cultivator is best.

4. Trim the hedges: A good-looking hedge starts with the initial cutting. Hedges with leaves should be trimmed during winter or early spring. Conifers are better trimmed during the growing period, one time in early spring and once in the middle of the summer.

5. Mow the lawn: Your grass needs time to recover after the winter. Remember not to cut it too short. With a grass level of 5-9 cm, you will have a fine, sustainable lawn.

6. Feed the soil: Use compost, composted manure, shredded leaves or seaweed as it replenishes and feeds soil by adding all types of life-giving organic material, microbes and nutrients. It’s the foundation of every successful garden.

7. Mulch between rows and keep the garden weeded to give emerging seedlings a fair chance. Mulch around your newly planted flowers, vegetables, shrubs, and trees to help reduce weeds and retain moisture.

8. Plant a herb garden. If you include mint, plant it in a large plastic tub (the kind drywall joint compound or birdseed comes in) with its bottom removed. This will help keep it from invading the rest of the garden.

9. Watch for signs of drought in plants transplanted from containers. Apply water (not much, but often) close to each plant's stem, where it will percolate down to the root ball. Always water in the early morning; it reduces loss to evaporation and foliage dries off more quickly helping to discourage disease problems.

10. Trim: The secret to an immaculate looking garden is in the detail, if you want your lawn and flower beds to look good, make sure you trim the edges. Trim climbing roses and attach securely to fences or trellises.

Should You Buy That Fixer Upper?

With housing inventory tight and fewer houses to choose from, some buyers are starting to consider homes that they previously would have dismissed as problems.

Buying a fixer-upper home can be a nightmare, punctuated by a series of unexpected disasters, or it can be a profitable venture. You can snag a rundown place in a good neighbourhood for way below market price, invest some time and money renovating it, and end up with a like-new house that's worth a lot more than what you paid for it.  So before you take the plunge, make sure you have a realistic idea of what you're getting into.

Do the math
Figuring out what you should pay to buy a fixer-upper starts with a simple equation. First, add up the costs to renovate the property based on a thorough assessment of the condition of the house. Be tough with this estimate, which should include materials and labour — yours and other people's. Next, subtract that from the home's likely market value after renovation, drawn from comparable real estate prices in the neighbourhood. Then deduct at least another 5-10% for extras you decide to add, unforeseen problems and mishaps that have to be dealt with, and inflation. What's left should be your offer.

It's essential that the real estate contract include an inspection clause. At best, the inspection will assure you that the house is a good investment; at worst, it will help you back out of the deal. Often with fixer-uppers, it's something in between. The inspector will document a serious problem or two, and you can use the findings to get the seller to pay for repairs or negotiate the sale price downward.

If the house needs significant structural improvements, many real estate experts recommend avoiding it altogether. Major repairs like plumbing and electrical system overhauls, foundation upgrades, and extensive roof and wall work are usually "invisible" and hardly ever raise the value of the house enough to offset the cost of the renovation.

Pick projects that pay
The ideal fixer-uppers are those that require mostly cosmetic improvements — paint touch-ups, drywall repairs, floor refinishing — which generally cost much less than what they return in market value. New lighting fixtures, doors, window shutters, and siding, as well as updated kitchens and bathrooms, are also lucrative improvements.

The perfect fixer-upper is the home that everybody wants when fixed up but few can see past its imperfections to buy.

Be prepared to roll up your sleeves
Whatever renovation is required, it's usually most cost-effective when homeowners pitch in. A fixer-upper is for people who are willing to be do-it-yourselfers because it can save them a lot of money and they can keep the increase in home value for themselves.

If you're not the hands-on type, be prepared to devote a considerable amount of time — months or even years — to closely supervising contractors. But remember that all of your financial gains could be wiped out if the project goes over budget because of mistakes or unnecessary delays.

Line up the money

One of the most challenging aspects of purchasing a fixer-upper is paying for the renovation. Understandably, most people don't have much extra cash after making the down payment and paying closing costs, so coming up with additional money to cover repairs or remodelling can be difficult.

If you have money set aside for repairs or you plan on taking out a loan, make sure you get an accurate estimate and then add another 20% on top of that. If you’re doing everything with borrowed money with no margin for error, there will be extra expenses no matter how carefully you plan.

Enlist help 

Make sure you have a network of helpers and never do the work by yourself. If you’re fortunate to have handy family members or friends, definitely enlist their help. Make sure to enlist the help of people you trust and know their level of experience and expertise in what you’re asking them to do.

Lastly, prioritize your projects and don't tackle them all at once, especially if you're doing it yourself. You don't want to start working on both the bathroom and kitchen and wind up getting stuck or out of money halfway through, when your counters are all ripped out.

Buying a house is a stressful experience. Throwing a renovation on top of that, especially for a lot of first-time buyers, isn’t always ideal. Many people move into houses soon after they’ve entered a long-term relationship, and it can be tough on a relationship if you’re trying to figure out these difficult things that have big implications for your finances and how you want to spend your life.

Home Sales Continue to Break Year Over Year Records - Home Prices continue downward trend for 3 consecutive months

Despite record home sales year-over-year, average home prices and detached home prices continue the downward trend, dropping just over 2% month-over-month.

Buyers may find some relief as Summer comes along and home sellers begin facing the reality that their time is waning as the market becomes more balanced.

KITCHENER-WATERLOO, ON (June 3, 2021) –– Strong home sales continued in May as the Kitchener-Waterloo Association of REALTORS® (KWAR) once again posted a record-setting number of monthly home sales.  There were 854 residential homes sold through the Multiple Listing Service® (MLS® System) of KWAR last month, an increase of 100.9 per cent compared to May 2020, and a 0.9 per cent increase compared to April 2021.

 

“While last May home sales were restrained due to the pandemic, May 2021 was another extraordinary month of home buying and selling activity,” says Nicole Pohl, President of KWAR. “Prior to 2020, the previous 10-year average number of residential sales for May was 656.”

 

Total residential sales in May included 485 detached (up 85.8 per cent from May 2020), and 106 condominium units (up 152.4 per cent). Sales also included 74 semi-detached homes (up 72.1 per cent) and 188 townhouses (up 138 per cent).  

 

In May, the average sale price for all residential properties in the Kitchener-Waterloo area was $740,103. This represents a 30.4 per cent increase over May 2020 and a 2.4 per cent decrease compared to April 2021.

 

• • • The average price of a detached home was $868,990. This represents a 32.6 per cent increase from May 2020 and a decrease of 3.4 per cent compared to April 2021.
    • The average sale price for an apartment-style condominium was $457,935. This represents an increase of 38.6 per cent from May 2020 and an increase of 3.1 per cent compared to April 2021.
    • The average sale price for a townhouse was $601,987. This represents a 33.7 per cent increase from May 2020 and a decrease of 1.8 per cent compared to April 2021.
    • The average sale price for a semi was $659,975. This represents an increase of 36.8 per cent compared to May 2020 and an increase of 1.2 per cent compared to April 2021.

 

“Last month the market took a breath and calmed a bit, but there is still very strong demand throughout our region,” says Pohl. “This started prior to the new mortgage stress test that came into effect on June 1. While these changes will impact the affordability for some, I do not expect it to be very impactful due to the sheer number of buyers in our market.”

 

Average Sales Price – By Property Type

 

KWAR cautions that average sale price information can be useful in establishing long-term trends but should not be used as an indicator that specific properties have increased or decreased in value. The MLS® Home Price Index (HPI) provides the best way to gauge price trends because averages are strongly distorted by changes in the mix of sales activity from one month to the next.

 

The MLS® HPI composite benchmark price for all residential properties in Kitchener-Waterloo was $749,100 in May. This represents a 35.8 per cent increase over May 2020 and a 0.4 per cent increase compared to April 2021.

 

• • • The benchmark price for a detached home was $815,800. This represents a 35.8 per cent increase from May 2020 and 0.8 per cent decrease compared to April 2021.
    • The benchmark price for an apartment-style condominium was $373,700. This represents a 16.9 per cent increase from May 2020 and a 2.1 per cent decrease compared to April 2021.
    • The benchmark price for a townhouse is $574,900. This represents a 49 per cent increase from May 2020 and a 0.5 per cent decrease compared to April 2021.

 

 

There were 1,061 new listings added to the MLS® System in KW and area last month, an increase of 83.2 per cent compared to May of last year, and a 2.6 per cent increase compared to the previous ten-year average for May* (*calculated from 2010 to 2019 to adjust for the impact of the state of emergency on activity in May 2020).

 

The total number of homes available for sale in active status at the end of May was 448, a decrease of 20. per cent compared to May of last year, and 70.5 per cent below the previous ten-year average of 1,520 listings for May* (*calculated from 2010 to 2019 to adjust for the impact of the state of emergency on activity in May 2020).

 

The number of months of inventory was 0.7 in May, which is unchanged from April. Inventory has numbered less than 1 month since October. The number of months of inventory represents how long it would take to sell off current inventories at the current rate of sales.

 

The average number of days to sell in May was 9 days, compared to 21 days in May 2020 and a previous 5-year average of 20 days. 

 

Those requiring specific information on property values should contact a local REALTOR®.  Working with a Realtor is the best way to get a complete picture of the property and community you are considering.

 

View our HPI tool here to learn more: https://kwar.ca/hpi-dashboard

 

 

Historical Sales By Property Type

 

Months Supply of Homes for Sale

 

Historical Median Sales Price – By Property Type

 

Historical Average Sales Price – By Property Type

 

Average Days on Market Chart