How to Negotiate a Good Deal on a Home Purchase

Buying a property requires good knowledge of market conditions, personal finances as well as the ability to judge what a good investment is. It is important to be in a position to negotiate realistically when you decide to make an offer. This comes as a result of good preparation before submitting a formal offer to purchase.

1. Request a Comparable Market Analysis (CMA) report from your real estate agent. These unbiased reports provide all kinds of valuable information on properties that have recently sold in your area. In addition to price information, you'll be able to compare amenities, square footage, and other factors that influence a home's price.

2. Set the maximum price you're willing to pay for a house. While you'll have to negotiate back and forth with the seller, it's good to have a firm idea of how much you're capable of spending. Compute your monthly mortgage payment and make sure it's within your budget. Don't forget to consider other expenses such as taxes and insurance.

3. Be realistic in your offer for the house. Don't make a low offer on a house you really want. If your research has shown that the price is realistic, then offering a low price may annoy the sellers and potentially upset your chances of getting the house - particularly if there are other folks making offers too.

4. When you make an offer, try to show flexibility. Be willing to go up in price a bit. You want the best deal for you and the seller wants to feel good about the deal that is struck too. Many times the seller’s position is just as stressful and emotional as your position.

5. If the seller appears to be highly motivated you could offer terms, such as repairs, to bargain with. In this situation, the seller may agree to a lower selling price if you agree to take care of repairs that were found during the inspection, or with a fast closing date. This tactic is often most effective in a slower market.

6. Show no emotion. The more desperate you appear in concluding the deal, the more likely you are going to be taken advantage of in the negotiation process.

7. Good negotiation comes down to both parties being satisfied with the price and the terms and conditions of the deal. Make sure that everything is documented and signed when making the offer as this will prevent any misunderstandings or chances of either party backing out in the future.

Creating Curb Appeal on a Budget

Curb appeal is a term used to describe how your home looks from the exterior and how appealing it looks when viewed from the curb. This includes areas such as the lawn, patio, front door, exterior paint, trees, shrubs, and more. In a simpler sense, curb appeal is what the buyers initially see the moment they step out of their car.

 Curb appeal contributes greatly to the desirability of a home. Most real estate agents confirm that curb appeal can affect a buyer’s decision to purchase a home more than the square footage or the price of the home. It often means the difference between a house sitting for months or selling in a few weeks.

If your home is not particularly attractive from the outside, there are many ways to improve the curb appeal of your home without shelling out thousands of dollars in renovations. There are dozens of small, inexpensive home improvements that you can do to your house to add instant curb appeal. Adding curb appeal to your house not only makes it easier to sell but also gives your house that nice and finished look in which you can take pride in.

The following steps will help to quickly create curb appeal for your home.

1. Tidy up. Make sure you don't have old rusty junk lying around the yard unless it is being used stylistically in a garden. Get rid of things that are just lying around. This would probably be the first step in improving the look of your lawn. Remove items such as old rope, boots, cracked pots, worn hoses, wrecked flower boxes, and other things.

 2. Trim up. Cut the grass and edge the borders with a weed trimmer. Take care to get rid of all weeds, including ones by the walls and around the mailbox post. Add a layer of mulch to cover up dull areas in the landscaping or flower beds.

 3. Build a healthy and green lawn. Adding some starter sod can make a big difference very quickly. Sod can be bought at lawn and garden stores and comes in rolls or squares. After you lay it across your yard, water it well and you'll immediately have a lawn, with roots taking hold within two weeks.

4. Add some colour to your yard. Planting flowers will enhance the curb appeal of your home. Buying colorful plants that have already started blooming will immediately make a difference. They can either be planted in pots or in the ground. Use your imagination and choose flowers that bloom in colours that look good in your home.

5. Paint. Giving your home (trim and shutters too) a new coat of paint easily breathes new life into its appearance. However, make sure you select a colour palette that matches the architectural style of your home. For example, if you live in a historic home, you’ll want to stick to an authentic palette.

6. Update your front door. Greet guests in style with an eye-catching front door that makes a statement. You can find exterior doors in a variety of materials from traditional wood to sturdy steel. The key is to select a door that suits your home’s architectural style. If your current door is in good condition, you can make it stand out by painting it a bold colour or adding windows, sidelights, mouldings, and more.

7. Illuminate paths and walkways with outdoor lighting. Install lighting fixtures that will complement the style of your home as well as help to create dramatic effects. Use fixtures with built-in motion detectors to enhance safety.

8. Add decorative accents. Top your exterior off with finishing flourishes such as trendy new house numbers that are clearly visible from the street. And while you’re at it, why not add a new mailbox? Or frame windows with new shutters?

9. Dress up your front porch or entry. Make sure you have an inviting place for potential buyers to sit and admire the landscaping. Even a small space has room for a chair or bench and a round table, or a stool to place a drink on. An outdoor accessory or two is fine, but keep it simple and uncluttered.

Keep in mind that simplicity is the key to creating curb appeal. A few flower beds that border and define walkways, curbs, and lawn areas and a few flower pots next to the home are often enough.

Remember: Breaking projects up into small, manageable chunks —as your time and budget allow—is the best way to go because even just a few design tweaks can make a big impact on your home’s curb appeal.

Tips on Reseeding Your Lawn

Seeding a new lawn or overseeding an existing lawn should result in lush green grass. The type of seed used, the season of planting, and soil preparation all play an important role in determining the growth rate of new grass seed. Getting your seeds off to the best start will ensure a healthy lawn.

Here is a few tips to help you out.

When to reseed your lawn
Seeding can be successful any time of year, but spring and summer lawn seeding requires a lot more care and water. In most parts of Canada fall is the best time to reseed your lawn. Weeds that compete with grass for moisture and growing space typically die off at the end of summer. Early fall is preferred because seeds can germinate faster in the warm soil and continue to establish itself through the cooler weather of fall and winter. There's also more natural water in the fall so less sprinkling is needed. Fall is also excellent weather to work in without the danger of heat or sunstroke.

Preparation
Clear the area you are going to reseed of grass, weeds, rocks, and other debris.  Loosen the soil and even out the surface, levelling the ground where necessary and breaking up any clumps of dirt by hand or with a rake. If your topsoil seems very poor, you may want to consider adding topsoil before seeding.

After you have prepared the soil, fertilize and water the soil. This can be done with commercial fertilizer, or you can go with organic compost. If you use compost, mix it well with your topsoil.

Choosing the right type of seeds
Use a high-quality seed that is suitable to your soil and area. A number of different mixes of grass seed are available in the market; each has its own particular characteristics and suits specific uses. A reputable local supplier should be able to advise on the mix to meet any particular need.  Different varieties of seeds have different covering capacities, usually ranging from 1 oz per square yard to 2 oz per square yard (35 to 70g per square meter). Take advice from your supplier as to the particular seed you choose.

Seeding a lawn
Once you have prepared the surface, spread the grass seed according to the package directions. The grass seed should be distributed evenly and most sources recommend covering the area twice, walking first in one direction and then at a 90-degree angle. Cover the newly seeded soil with straw to protect the seed from birds and wind, and to provide a layer of insulation.

If you're overseeding an existing lawn, remove thatch of grass clippings and dead grass before spreading new seeds. Either rake the area by hand or use a power rake to expose the soil. The process for encouraging new seed growth is the same as when seeding a new lawn.

Watering
Watering is the most important part of planting grass seeds. Water the seeded area for 10 to 15 minutes, two to three times daily for the first two weeks. As the grass begins to emerge, reduce the watering frequency to once a day. Mowing new grass is critical to its healthy growth. Once the lawn reaches 2 to 3 inches in height, begin mowing.

Dealing with weeds
If you've started with a good layer of quality topsoil, weeds should not be a big problem during early growth. Careful hand weeding is the best solution to getting rid of the few weeds that may appear during the first month and a half. You can discourage weeds by planting the right grasses, mowing high, watering, and fertilizing with care and overseeding. Reseed all bare spots with grass to prevent weeds from filling in the space. To further combat weeds, inquire at your local garden center about new lawn care products made from environmentally-friendly substances.

How to Use Fall Planting to Improve your Gardens!

Planting isn't just a spring activity; fall is also a great time for planting. Turfgrass, spring-blooming bulbs, cool-season vegetables, perennials, trees, and shrubs can all be effectively planted in the fall. Autumn's cooler air temperatures are easier on both plants and gardeners. The soil is still warm, allowing roots to grow until the ground freezes.

What are good vegetables to plant in late summer?
Fall and winter gardening is only successful if you know the average date of the first killing frost in the region in which you live. Crops need to be planted early enough to let them reach full maturity before the killing frost arrives.

Several vegetables can be planted in late summer for a fall crop. For a fall crop, plant beets, carrots, Swiss chard, kohlrabi, and kale in early to mid-August, plant leaf lettuce and spinach in late August to early September, and plant radishes from mid-to-late September. Due to hot, dry soil conditions, seed germination in late summer is often rather poor. To promote seed germination, plant fall vegetables when the soil is moist after rain, sow the seeds slightly deeper than spring plantings and lightly water the row after the seeds have been sown.

Lettuce seeds are sensitive to extreme heat. To achieve good lettuce seed germination, check the weather forecast and sow the seeds when a prolonged period of mild weather is predicted.

Extending the growing season
There are many ways to add anywhere from 10 to 15 degrees of warmth to the fall and winter garden by taking advantage of free solar energy from the sun. Many of these season-extenders offer frugal ways to get the most from your garden.

Cold Frames
Planting vegetables in a cold frame is an excellent way to lengthen the growing season. Fall and winter crops flourish in a cold frame and are protected from strong winds and cold night temperatures. Cold frames are very easy to build and once the vegetables are planted they require minimal care. An old window sash makes an excellent cold frame. Build a frame that is 18 inches high in the back and 12 inches high in the front and attach the window sash.

Greenhouses
Greenhouses were originally constructed for the wealthy during the Roman Empire. Today, however, there are countless options when it comes to building your own greenhouse or purchasing a do-it-yourself kit. Greenhouses extend the growing season by protecting plants from harsh weather and making great use of solar energy. Many people grow vegetables year round with the help of a greenhouse and a heater.

Raised Beds
Raised beds are popular amongst gardeners wishing to control soil quality and extend the growing season. The soil in raised beds heats up very quickly, and the bed can be covered with a hoop that protects crops when frost is a threat.

Cool-season vegetables
Many vegetables thrive in cool weather, including broccoli, brussels sprouts, carrots, cabbage, kale, kohlrabi, lettuce, radishes, rutabaga, spinach and Swiss chard.

Lettuce, spinach, and other greens with a short maturity cycle can be planted later in the summer season. Extend the growing season by planting these vegetables under floating row covers or cold frames that will shield plants from frost but still allow light, air, and water to penetrate.

Trees and shrubs
Fall is an ideal time to plant trees and shrubs. The weather is cool but the soil is still warm enough for root development. Before digging, always check with your local utility companies to locate any underground lines. Always plant trees and shrubs at their natural soil lines. Keep newly planted trees or shrubs well watered until the ground freezes so they get a good start before going into full dormancy during winter.

Spring bulbs and pansies
Fall is the best time to plant spring bulbs and pansies because the still-warm soil temperatures give their roots time to establish. By planting in fall, you'll get two seasons of enjoyment out of these cool-season favorites. Remove spent flowers so the plant doesn't use its energy to set seeds, and keep the soil moist. After the soil freezes, mulch plants to prevent alternate freezing and thawing cycles that can heave plants out of the ground.

Turfgrass
Fall is the right time to establish new turfgrass and do most lawn maintenance. If you live in the north, cool-season grasses such as bluegrass, fescue, and ryegrass should be fertilized in early September and again in late October or early November to give a boost for earlier spring green-up. In the south, avoid fertilizing dormant warm-season grasses unless they have been over-seeded with winter ryegrass.

Rising Borowing Costs Continue to Put Downward Pressure on Home Sale Prices in August

WATERLOO REGION, ON (September 7, 2022) — 659 residential homes were sold last month through the Multiple Listing Service® (MLS®) System of the Waterloo Region Association of REALTORS® (WRAR) in August, a decrease of 8.1 per cent compared to August 2021 and 11.2 per cent below the previous 5-year average for the month.

Total residential sales in August included 413 detached (down 0.7 per cent from August 2021), and 117 townhouses (down 24.0 per cent). Sales also included 68 condominium units (down 26.1 per cent) and 61 semi-detached homes (up 10.9 per cent).

“The decline was most pronounced in the apartment-style condo and townhouse categories which could indicate that rising borrowing costs are having a greater impact on first-time buyers and those looking for more affordable options.”   

In August, the average sale price for all residential properties in Waterloo Region was $750,849. This represents a 0.4 per cent decrease compared to August 2021 and a 0.2 per cent decrease compared to July 2022.

• The average price of a detached home was $851,654. This represents a 3.0 per cent decrease from August 2021 and an increase of 1.1 per cent compared to July 2022.
• The average sale price for a townhouse was $610,725. This represents a 4.2 per cent decrease from August 2021 and a decrease of 5.2 per cent compared to July 2022.
• The average sale price for an apartment-style condominium was $464,959. This represents an increase of 4.3 per cent from August 2021 and a decrease of 10.9 per cent compared to July 2022.
• The average sale price for a semi was $655,813. This represents a decrease of 1.0 per cent compared to August 2021 and a decrease of 0.8 per cent compared to July 2022.

 “Today’s announcement by the Bank of Canada to increase its policy rate by 75 basis points to 3.25 per cent is discouraging news for borrowers as it affects their purchasing power,” says Bell. “However, we see signs that the market is moving towards more buyer-friendly conditions. REALTORS® are reporting fewer multiple offers resulting in final sale prices being closer to the asking price or with more conditions accompanying offers. Even so, with inventory still very tight, Waterloo region remains a seller’s market.”

There were 933 new listings added to the MLS® System in the Waterloo Region last month, an increase of 19.3 per cent compared to August of last year, and a 1.2 per cent increase compared to the previous ten-year average for August.

The total number of homes available for sale in active status at the end of August was 1,003, an increase of 188.2 per cent compared to August of last year, and 31.8 per cent below the previous ten-year average of 1593 listings for August.

The number of months of inventory is up 250 per cent compared to August of last year, but still historically low. There were 1.4 months of inventory in August 2022, down from 1.8 months in July 2022. The number of months of inventory represents how long it would take to sell off current inventories at the current sales rate.  

The average number of days to sell in August was 22, compared to 12 days in August 2021. The previous 5-year average is 22 days.