But what if you don’t have a lot of time and are on a limited budget? What can you do today to make your home irresistible to buyers tomorrow?  Here are some ideas:

1. Paint
It doesn’t cost much to paint key areas of your home, like the foyer, kitchen or master bedroom.  Yet the impression it makes on buyers is significant. In fact, compared to most other types of home improvement projects, painting gives you the highest payback when you sell.

2. Create space
Homes naturally get cluttered over the years.  Even a double car garage can seem claustrophobic if there are a lot of boxes, equipment and other items stored in it.  Go through each room of your home and do a major decluttering.  It will  make your property seem more attractive and, when you sell, make moving easier too!

3. Clean and tidy
Obviously, you’re going to make sure your home is clean for viewings. But you’d be surprised what a homeowner can miss and a buyer notices. Closets, laundry rooms, side yard, basement furnace room and all other nooks and crannies should be as tidy and clean as possible.

4. Roll out the red carpet
Not an actual red carpet! But you do want the entrance way to your front door and into the foyer to make the best impression possible.  After all, those are the areas that a buyer sees first. Make sure walkways are clear and clean. Ensure that when a buyer opens the front door and walks in, the impression he or she gets is that of a great looking place to live.

These four tips don’t take much time or money to implement. Yet, they can all help make your home even more irresistible to buyers than it is today.

Want more tips on preparing your home for sale?  Curious to know the value of your home? Contact Fraser and Stephen Winters today for a FREE home market evaluation.

Well the first month of the year has past.  Personally I find January the slowest month of the year for real estate,  but this year was a little different.  Inventory levels of homes for sale in St. John’s and surrounding areas seem to be very low.  On the flip side there are lots of buyers.   I’ve been involved in a few multiple offer situations so far this year and have heard from other Realtor’s that they too have been involved in multiple offers.  As well, I’ve seen a fair number of homes sold within 24 to 48 hours from being listed on MLS.  Based on CMHC’s stats from ‘Newfoundland MLS Trends for 4th quarter of 2009‘ we ended 2009 in a sellers market.  I feel this trend will continue into the better part of the summer.  When the Bank of Canada increases it’s interest rates we’ll probably see a little pull back in sales.

Total # of new MLS Listings [Jan] =615 (based on residential stats)

Total # of Sales [Jan] = 240

Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 2458 (residential only)

Here is a break down by area for the month of January

St. John’s Real Estate: Listings = 155   Sales = 89 Sales/Listings Ratio = 57%

Average Sale Price is St. John’s: $271,674 for the month of October and the 12 month average $237,988

Mount Pearl Real Estate: Listings = 21 Sales = 3  Sales/Listings Ratio = 14%

Average Sale Price (12 month average): $218,729

Paradise Real Estate: Listings =28 Sales = 21 Sales/Listings Ratio =75%

Average Sale Price (12 month average): $269,242

East Extern Real Estate: Listings = 40 Sales = 15  Sales/Listings Ratio = 38%

Average Sale Price (12 month average): $259,029

Conception Bay South Real Estate: Listings = 34   Sales = 18  Sales/Listings Ratio = 53

Average Sale Price (12 month average): $223,082



MLS® Residential Sales Increase During Fourth Quarter

• MLS® sales increased 7.5% to 1,293 compared to 2008’s fourth quarter sales of 1,203.
• October, November and December MLS® sales were 473, 421 and 399, respectively.
• Fourth quarter average MLS® residential house price climbed 10% to $212,992 compared to $193,529 during the fourth quarter of 2008 – the only consistent price growth market in Canada since 2008.

Sellers Market Conditions

• 1,257 new residential listings during the 4th quarter compared to 1,463 during the same period in 2008.
• Active listings or inventory averaged 1,542 from October to December versus a similar 1,528 during Q4 of  2008.
• Sales-to-active listings ratio hit 34% in December and averaged 29% during the fourth quarter versus 26% in Q4 of 2008.

Sellers Market Keeps Active Listings Low

• Steady demand for housing caused active residential listings to remain low during the fourth quarter.
• Active listings for October, November and December were 1,790, 1,643 and 1,192, respectively, with new listings of 601, 416 and 240, respectively.
• Steady demand paired with 7.5% more sales and 14% fewer new listings resulted in sellers market conditions.

Mortgage Rates

• Canadian mortgage rates are expected to remain historically low during the first half of 2010 and increase gradually during the second half, as bond yields start to increase.
• For 2010, the posted 5-year mortgage rate is expected to be in the 5.49% to 6.0% range.
• The record low bank rate currently sits at 0.25%, with prime at 2.25% and 5-year fixed mortgage rates at 5.49% at major Canadian banks.

“The local residential construction industry remained buoyant throughout 2009 and ended the year off just nine per cent compared to 2008’s record pace,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “Despite weakness in the global economy in 2009, positive local economic and demographic factors continued to support stable residential construction activity within the St. John’s region, as well as in other urban centres across the province,” added Janes.
For Canada’s urban centres, total housing starts increased 17 per cent with 12,262 recorded in December compared to 10,488 during December of 2008. Single-detached starts increased 44 per cent to 6,222, while multiple starts of 6,040 represent a two per cent decline from a year ago. Throughout Atlantic Canada, there were 672 urban housing starts posted versus 574 the previous December, an increase of 17 per cent.

Urban housing starts held steady during the month of November, according to preliminary data released today by Canada Mortgage an Housing Corporation (CMHC). November’s housing starts totaled 176 throughout the St. John’s area versus 173 starts in November of 2008. An additional 12 starts were recorded in other urban areas across the province, for a total of 188 provincial starts compared to 196 the previous November. “St. John’s area housing starts held steady relative to last November, posting a small increase of two per cent, with year-to-date starts off ten per cent compared to 2008’s accelerated pace,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “Employment, income and population growth continues to support residential construction activity throughout the St. John’s region,” added Janes.

For Canada’s urban centres, total housing starts were flat with 13,507 recorded in November compared to 13,500 during November of 2008.  Single-detached starts increased 15 per cent to 6,671, while multiple starts of 6,836 represent an 11 per cent decline from a year ago.  Throughout Atlantic Canada, there were 641 urban housing starts posted versus 734 the previous November, a decline of 13 per cent.

The RE/MAX Housing Market Outlook for 2010 examined residential real estate trends in 23 markets. The report found that sales are forecast to recover in almost all major centres by year-end 2009, led by an anticipated 45 per cent increase in Greater Vancouver. Two markets — Ottawa and Quebec City — are expected to hit historic highs in the number of homes sold. Average price should post new records in 65 per cent of markets surveyed this year. As economic performance ramps up across the country, so too will residential real estate. Eighty-three per cent of markets (19/23) are expecting sales to increase over 2009 levels while housing values are forecast to escalate in 91 per cent (21/23) of Canadian centres in 2010. The remaining markets will match 2009 levels.

Approximately 465,000 homes are expected to change hands nationally in 2009, a seven per cent increase over one year ago. Canadian housing values are forecast to close the year at $318,000, up five per cent from $303,594 in 2008. By year-end 2010, the number of homes sold is predicted to climb another two per cent to 475,000 units. The average price of a home is also expected to experience an uptick, rising two per cent to $325,000 – the highest level in Canadian history.

“2009 was without question the year of the house,” says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. “Real estate not only defied industry and analysts’ predictions in 2009 — it’s performance went well beyond the realm of expectation by boosting consumer confidence levels and ultimately kick starting the national economic engine. While low interest rates were a principle factor driving home buying activity, no one can discount the value that Canadians place in owning a home.”

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Fraser and Stephen Winters just listed an extremely well looked after property located in Pleasantville, in the east end  St. John’s.  Three bedrooms, 1 and a half bathrooms. Hardwood floors throughout most of the home.  Property is heated with an electric hot water radiation system providing very low monthly heating bills.  Located within walking distance to Quidi Vidi Lake (walking trails) and downtown St. John’s.  The Metro Bus passes right in front of the property. Front and rear garden well maintained.  Ideal home as an investment property or for a first time buyer.  Asking price is $169,900.

CMHC released their Third quarter data for Newfoundland MLS Real estate the other day.  As expected, we are officially in a balanced market now within the  St. John’s Real Estate area.  New MLS listings edged down once again, as did the number of sales compared to September’s Newfoundland Real Estate Stats.  New listings were on par with 2008’s third quarter, but with available inventory 27% higher, this gives buyers more time to shop and compare houses.  Total number of houses that expired in October was up 53% since October of last year.  Having your house priced correctly is KEY in this market.

Total # of new MLS Listings [Oct] =397 (based on residential stats)

Total # of Sales [Oct] = 325

Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 1829 (residential only)

Here is a break down by area for the month of October

St. John’s Real Estate: Listings = 167   Sales = 132 Sales/Listings Ratio = 79%

Average Sale Price is St. John’s: $217,032 for the month of October

Mount Pearl Real Estate: Listings = 26 Sales = 23  Sales/Listings Ratio = 88%

Average Sale Price: $218,681

Paradise Real Estate: Listings =40 Sales = 41 Sales/Listings Ratio =102%

Average Sale Price: $262,591

East Extern Real Estate: Listings = 28 Sales = 19  Sales/Listings Ratio = 68%

Average Sale Price: $249,459

Conception Bay South Real Estate: Listings = 45   Sales = 31  Sales/Listings Ratio = 69%

Average Sale Price: $216,627

MLS® Residential Sales Lower during Third Quarter

• MLS® sales decreased 11% to 1,504 compared to last year’s record third quarter sales of 1,695
• July, August and September MLS® sales were 536, 472 and 496, respectively
• Third quarter average St. John’s MLS® residential house price climbed 13% to $206,852 compared to $182,306 during the third quarter of 2008 – the only consistent price growth market in Canada during the past 12 month period

Balanced Residential Resale Market

• There were 2,282 new residential listings during the third quarter compared to 2,246 during the same period last year
• However, active listings or inventory averaged 2,200 from July to September versus a much lower 1,750 during Q3 of 2008
• Sales-to-active listings ratio hit 24% in September and averaged 23% during the third quarter versus 32% in Q3 of 2008

Balanced Market Keeps Active Listings Up

• Normalized demand for housing caused active residential listings to increase 27% to the end of the third quarter
• Active listings for July, August and September were 2,301, 2,150 and 2,077, respectively, with new listings of 918, 695 and 669, respectively
• New listings were on par with 2008’s third quarter, but with available inventory 27% higher, the market was balanced