Sales Representive, Expect More, Get More!

Exciting Time in Hamilton, Ontario | As LRT Takes Shape


In the last 10 years I have been advising investment conscious clients to purchase close to the waterfront in Hamilton.  Really anywhere north of King around James Street.  Anywhere walking distance to the now completed new GO Station.

Now that ship has pretty much sailed. We know that the Real Estate market is affected by exterior forces. So where should you buy now in Hamilton if you want to speculate on market increases beyond the standard market increase?  Where will your investment work the best for you?

lrt image
Source: raisethehammer.org

A 15 minute walk to the LRT (Light Rail Transit) stops would be my suggestion or anywhere close to the upcoming GO Station at the end of Centennial Parkway.  (Would have been a great place for the new stadium but lets not rehash that).

Hamilton has been seen as a great place to invest by those with foresight for several years now including  R.E.I.N.

Here is a great image of the proposed stops for the LRT B Line coming soon!

HAMILTON LRT ROUTE

B-LINE | A-LINE | PHASE-2 | GO EXTENSION
 

If you would like to know more about buying a home in Hamilton, Ontario, contact me because Helping You Is What I Do!

www.HamiltonRealEstateSales.com


I Want To Buy a House, Where Do I Begin?

You begin with financing. I work with a team of trusted professionals to assist and support my clients. So if you are in the Hamilton area, you should start with a call to me or your favourite REALTOR® who can provide you with the proper contacts. If you are not in the area, I have made many great Real Estate contacts outside of the GHA that I can recommend to you.

It is rather easy and efficient when you have guidance. I believe in being involved from A to Z . I can provide mortgage specialists, inspectors, lawyers and other contractors you may need.  I provide a professional photographer if you are selling a home and as well as my own staging advice, and a professional if needed.

Once you’ve received the information from a mortgage person, the process can begin.  I would also provide a thorough evaluation on any existing owned home. Then set up a search of the entire MLS of properties that meet your needs and price range.  You would give me feedback on the properties sent. This is vital to get us on the same page. For me to get “inside your head” and figure out your “must have’s” and your ” I want’s”.

Then comes the Education Day home viewings. We aren’t necessarily expecting to find “the” house this visit especially since many of the properties will have been on the market for awhile. So not necessarily the cream of the crop. A great day to get the conversation going. A great way to bring out important questions and to focus in on what you are looking for.

Moving forward I am “on it” daily until that perfect home for you does come along. I’ll save the information on the offer process and after the offer for another time.

This is a method that has worked well for me and my clients. I find this step by step process can be completed for first time buyers often within 2 weeks depending on your availability. Longer if you have a home to sell of course. My goal is to save you time and aggravation while finding your perfect home at the best price and educating you on all aspects.

Trust a professional and take your first step by contacting me and let me guide you throughrealtors_know_real_estate_ this process of finding your dream home!

Expect More, Get More!

www.HamiltonRealEstateSales.com

 
 

Free Solar Panels for Your Home, Good Idea or Bad?


I have recently been asked this question by 2 clients so I think it's time to blog about it.

Question "what do you think about putting these free solar panels on my house?".

It seems there is a program being offered to put "free" solar panels on homes and pay the homeowner a cash outlay of approximately $3000 or a monthly fee over 20 years.  After 20 years you own the panels. The solar panel provider sells the energy to the grid during the 20 year contract.

The problem as I see it is, you aren't actually getting the benefit of the energy being sourced, just the cash or monthly payment. You own the solar panels after 20 years but is the technology now dated?

I called the one company to get more information. This is what I was told. If you need to replace your roof they will remove for a few days and re-instal after the roof is on.  However, if you put your home for sale and a buyer wants the panels removed it is NOT an option.  They must accept the solar panels along with the house for the duration of the 20 years.  If you took the initial cash outlay, the new owner would get a cash outlay of approximately $ 300.  If you are on the monthly plan, they new owner would now get those monthly payments.

In my opinion as a Realtor®, the lack of option to remove the panels if you sell makes this a bad idea. I'm all for green energy so if you are planning to be in your home for more than 20 years, go ahead and research it further.solar panels

I would think that a better option would be to purchase the solar panels yourself, use the energy and sell the surplus to the grid for a profit. Having said that, I have no idea of the cost of solar panels.

I would also advise that you research the impact on your roof shingles as well since I have heard some reports of problems in that regard.

Buyers who are not familiar with this program, as most of us are not, will be put off of your house. It is something they have no say over, and in my opinion it has very little benefit to them. It will affect the saleability of your home in my opinion.

Have any questions concerning your home's value and the things you should and/or shouldn't do to maintain and increase the value.... contact me.  Helping you is what I do!

Expect More, Get More!

www.HamiltonRealEstateSales.com

 


Home Buyers Beware | Watch Out For Kitec Plumbing


I always say, "hire a professional" and it is very important when hiring a home inspector to check out your potential new home.

I hadn't heard of Kitec Plumbing a couple of years ago until a trusted home inspector found it in a home that my Buyer Clients were trying to purchase in Burlington.  It was a gorgeous, nine year old town-home in great condition.

kitec plumbing
copied from kitecsettlement.com website. Typically orange and/or blue.

What a heart-breaker when the home inspector told us that Kitec Plumbing was found and that it has a high failure rate and was the subject of a class action law-suit.  

My clients were still interested in the property but could not live with the lack of peace of mind that this plumbing would bring. Visions of arriving home to a flood was more than anyone should be expected to endure. Now that the Seller knew about the issue, there was an obligation to disclose. This requirement varies by province so speak to your trusted Real Estate professional if you are selling a property which has Kitec Plumbing.

We had an estimate done to totally replace the plumbing and repair any wall damage.  Basically fix it and make it look like nothing was touched.  We were able to negotiate the price of this repair from the cost of the property and my clients were very happy.

It is vital that you have professionals protecting you and your largest investment.

The moral of the story is "always use a professional"  and "make sure you have a great home inspector".

The other lesson in this is don't give up on a property you love because of a defect.  Let your Realtor® work to help to make your dreams come true.

Contact me for more information and visit my website www.HamiltonRealEstateSales.com


Kathy Della-Nebbia's Blog


How Do I Prepare my Home for Sale?

I’ve written a lot about timing and this is also a factor in the time you take to prepare your home for sale.  Yes there are things you definitely should do, but there are things that can slow you down to the point of costing you money.

Not to mention the return on investment you get from different home improvements.  It is very important to get your Real Estate professionals opinion on what to do and not do before spending the money.

One of the most gratifying things, other than negotiating a great deal for my clients or seeing the joy on clients faces, is when someone says “I never would have thought of that”.

When I go through the house with a client preparing to sell their most valuable asset, I look at it objectively  with fresh eyes.  I can always give a suggestion and often one that will save time and money.  How about just painting that one wall that needs it and creating an accent wall?  How about some new hardware on those cupboards instead of new doors?  A new kitchen is great but you are unlikely to get 100% of the value back.  Spending $ 20,000 to get $ 15,000 doesn’t make sense unless you are in a Buyers market and you need to also increase the saleability.

There is almost always and “UNLESS” so ask a professional first!realtors_know_real_estate_

I’d be happy to have a look at your home and give you my professional advice.

For more Real Estate and Hamilton information visit my website at HamiltonRealEstateSales.com


Wondering If You Are Over Paying For Your Home in Hamilton, Ontario?

Hamilton’s Real Estate market is healthy and strong and on a huge upturn, just trying to catch up you might say. I see it increasing at least over the next few years.  Having said that, I don’t have a crystal ball…..gosh I wish I did.  There are always unforeseen things that impact our local markets.  Global events, mortgage rule changes, economic events, local events to mention a few.

Let’s talk about spikes.dollarsign

Even in the rising graph there can be spikes.

As a Buyer, I caution you to be careful in a spike.  These can be influenced by the time of year but lately it seems to be more about supply and demand.  Of course the supply and demand issue is partially influenced by time of year.  Lately in Hamilton we have had a shortage of homes to sell to an extreme and I believe we have been in one of those spikes.  Depending on your urgency to buy you may want to adjust your timeline even if just by a few weeks.  Timing is everything.  However, be careful not to wait to long or you can see the prices rise before your very eyes.

If you are a Seller, waiting too long could mean lost dollars if you end up in the fray with other Sellers putting their homes on the market. This could negatively impact the supply and demand from your perspective.  Waiting to get the landscaping done might be a costly decision. Timing IS everything.

Interesting to go back and read this article in The Hamilton Spectator from 2011.  The word definitely has gotten out. I believe Hamilton still has some catching up to do and is thriving and growing. DowntownHamilton

Hamilton is a pretty safe investment and in fact a very smart one in my opinion.

Ask your Hamilton area Real Estate professional for advice on Real Estate decisions in Hamilton.  There are many factors that should be considered as you make decisions regarding your biggest or one of your biggest assets or largest purchases of your life.

Contact me for more information at 905-574-4600, toll free 1-877-574-4601 or direct 905-537-6005.

Expect More, Get More!


The Pitfalls of Over Pricing Your Property in Hamilton -

That's a Switch!

Published April 29th, 2015

If you haven't heard,  Hamilton's Real Estate market is on FIRE!  There is a strategy of under pricing properties to create an even more frantic bidding war.  What are the pitfalls of under-pricing your property in a market like Hamilton is experiencing now?

Properties are selling for over asking price even if they are priced "bang on" or at least what we perceive to be "bang on".  So if  the property is under-priced as well, there is a strong possibility that the difference between asking and selling price will be quite large.  At what point does this trigger red flags and an appraisal from the lender or the insurer?  That is the million dollar question.  It depends on the location and the perceived risk that the area poses to the lender or insurer.  I'm sure there is a formula so that when the details are input into the lender's system, it can either go through without a hitch or trigger that appraisal.danger image

So what if an appraisal is called and the property does not appraise at the value it sold for?  If there is a condition on financing the buyer could walk away from the transaction.  In this case at least you would know within the time allowed for that condition. Usually 3-7 days.  What if the buyer came in without a finance condition because they were in competition and "really wanted the house"?  Here is where is gets tricky.  The Buyer needs to understand that if the property does not appraise at the sold value, they will have to come up with their down-payment as well as bridge the difference between the appraised price and the sold price.  This can be quite significant.

There may be a temptation to accept offers without a financing condition but I would want to be assured that the Buyer is of course pre-qualified, can come up with extra cash if there is a shortfall with the appraisal and has been advised that this is a possibility.  Some times it is better to deal with a short finance condition and make sure you know what to expect as opposed to getting a surprise down the road when you find out the Buyers have been unable to procure financing.  Make sure you and/or your agent ask the questions that need to be answered to protect you.

In my opinion, do not under-price your property to create a crazy bidding war.  Price it right, with a good chance of still creating that bidding war. Without sending up RED FLAGS to the lender because you have a sale price that is way higher than the asking price.

If you have any questions about this or want other Real Estate and Hamilton area information, contact me at 905-574-4600 or email kathydellanebbia@royallepage.ca

Expect More, Get More!


Why There is Such a Shortage Of Inventory in Hamilton. The Perfect Storm!

There an incredible imbalance of buyers and sellers. A huge shortage of homes for sale in Hamilton and area. It is What has caused this PERFECT STORM?

There is the pent-up demand from the Buyers who were taken out of the market due to mortgage rule changes in 2012. Many are coming back into the market now.

There is a huge migration of  buyers from the GTA  due primarily to affordability.  Also the fact that there are more commuting options now and even more in the near future. The construction of a new GO Station with “all day” GO service sure to be a reality in the near future.

Incredible mortgage rates further drive and assist the Buyers make their homeownership dreams come true.

and

Hamilton reinventing itself with a diversified economy and changing job market.  No longer the Steel industry as the primary employer but instead everything to do with the Medical Field, education, research and the world class hospitals.  A booming and  changing demographic with a thriving grassroots Arts/Music/Theatre Community.  Hamilton is no longer a secret and is on the map for many reasons.  A mecca for the outdoor enthusiasts with greenspace, waterfalls, beach front, harbour and amazingly located between a Great Lake and an Escarpment.  Then of course, the people, recognized as a very generous and caring community.

Move up Buyers who are nervous about putting their homes on the market in case they can find anything or who are waiting for the “spring market” to list their homes.

The pressure comes from the bottom, from the First Time Buyers.  Hopefully the “Spring Market” will bring more product on the market to help alleviate some of this pressure.  After all a little more balance is always healthier for everyone.

My best advice….If you are a Seller, LIST your home now and beat the rush of Sellers.  If you are a Buyer without the pressure of time.  Breathe for a few weeks and hopefully you will have more product to pick from soon.

Next I will address the so called benefits and pitfalls of under pricing your home in this type of market.

Visit www.HamiltonRealEstateSales.com for more Hamilton and Real Estate information.


What’s the difference between a FIXTURE and a CHATTEL?

When you are purchasing a home it would seem that “what is the difference between a fixture and a chattel?” should be an easy answer.  Well not always, sometimes there is confusion or the wrong expectations.

First lets differentiate the meaning and use.  A fixture is “a-fixed” to the house and is deemed to stay with the house unless it is excluded from the Agreement of Purchase and Sale.  A chattel is not “a-fixed” to the home and goes unless it is included in the Agreement of Purchase and Sale.

Some items are clear and sometimes we put them into the offer anyways for clarityand to make sure everyone understand what stays and what goes.

A prime example of something causing confusion in the last few years is bathroom mirrors.  It used to be clear that the “medicine cabinet” would stay.  Now, with more decorative framed mirrors that may just be hung on a nail like a picture, it’s not so clear.  The Buyer has an expectation that they will have a mirror in their bathroom on closing.  The Seller says, I paid a lot for that and it’s not “fixed” therefore not a fixture. For clarity I always included “any bathroom mirrors” in the agreements I prepare.Framed Mirror

The built-in dishwasher is “a-fixed” by plumbing but since it is an appliance most Realtors® would include it in the “Chattels” section to ensure clarity.  Decorative curtain rodcould be just laying on hardware.  So does that mean the rod can go and the hardware bolted to the wall must stay?  What about wall shelves that are held on a screw much like a painting can be?  What about the bookcase that has been secured to the wall to prevent tipping?  traditional-bookcases

Not always so clear is it?

If you’re not sure, it’s best to include or exclude in the appropriate areas to make certain everyone has the same expectation.

Helping you through the process.

Expect More, Get More!

Visit http://www.HamiltonRealEstateSales.com for more Real Estate information.


What’s An ELF? Not Santa’s Helper in the Real Estate World

Clients often ask me, “what’s elf’s?”  Well in the Real Estate world it is not Santa’s little helper but an acronym for Electrical Light Fixture.  Unfortunately, there is a lot of information to give and a limited number of characters allowed. We need room for those descriptive words to paint a picture for you, the buying public.

Here are a few more to help clarify.light

RSA – Room sizes approximate
Reno’d – Renovated
SPIS – Seller Property Information Statement (this requires a whole blog on its own, ask me about it)
F/P – Fireplace
B/I – Built-in
pc – piece as in bathrooms
SS – Stainless Steelchandelier
W/ – With
Sep – Separate
cvac – Central vacuum
TLC – Tender Loving Care
Base – Basement
Prof – Professionally
Hrdwd – Hardwood
GDO – Garage door opener

Let me help you interpret the jargon.  There is a lot said in the remarks of a listing by what is not said and the choice of words used.  Maybe my next blog should be on how to interpret what is not said in a listing remarks section.  Stay tuned.

Contact me with any questions you have or for any assistance with your Real Estate needs.

EXPECT MORE, GET MORE!


I’m Trying to Buy a Home In Hamilton!! HELP

As promised here is some advice on buying a home in Hamilton during this incredible booming market.

First find a Realtor® you trust and feel comfortable with and sign a Buyer Representation Agreement. Make sure someone is actively searching for you and is“on it”.  If you attempt to search yourself, you will always be a step behind.  It’s tough for us and we get the information the instant it is uploaded to our Association.

Second, set your search up slightly below where you qualify in this market.  Normally we would search just above where you qualify knowing that the homes will sell slightly below asking.  However, in this market in Hamilton it has become“normal” to sell over asking so this gives you some wiggle room to 2014-07-18 14.12.56offer over asking if you are not looking at your max.

Third, don’t be afraid of competition.  Look at the comparable sold properties with your agent and decide what you feel the house is worth.  There are some who strategically under price their listings so don’t get too caught up on the listing price.  What is the value?  More importantly, what is the value to you?  Does it meet your needs?  What are your short and long-term goals related to real estate? What about the area.  Are there any external factors that affect the value beyond the regular increase in the market?  What is happening there?

What is the magic number in competition?  That is always changing and is different in every scenario.  A question I would ask you after looking at the comparable properties that are similar and have recently sold is; What is the number that you will be okay with if you lose by a little and if you win, you won’t feel you overpaid?  That is the magic number because it’s the one you will be comfortable with win or lose.

I know it is extremely frustrating but this is happening because you are in thehottest market in Canada and there is no sign of that changing. Hamilton is an excellent place to buy and a great investment.

Lastly, don’t let you emotions get the best of you.  Find a Realtor® you trust and have faith.  It is a difficult process but a worthwhile one and the rewards can be fantastic!

For more information on Hamilton and Real Estate in Hamilton, visit my website atwww.HamiltonRealEstateSales.com and contact me at 905-574-4600.


Hamilton, Ontario | Hottest Real Estate Market in Canada


Hamilton, Ontario | Hottest Real Estate Market in Canada

  • Initial reaction, awesome!  Not so if you are a prospective buyer trying to purchase Real Estate in Hamilton. Hamilton’s market is booming due to affordability.  We’re just trying to catch up. We are seeing a huge influx of buyers from the GTA.  Then of course there is our diversification, growing grassroots arts 2014-07-15 16.49.20-1and music community, loads of green space, trails and waterfalls, improved commuting options and just the fact that we are getting on the map.  TheHamilton%20Ontario%20Skyline best kept secret is no more, the word is out.  A strong commitment by city and developers to urban revitalization.  Hamilton is a fabulous place to live, work, learn and play and a great place to raise a family. A great place to invest with no sign of slowing down. 

    Here are some links to great Hamilton resources.

    http://www.investinhamilton.ca/princesspoint,insidecootesparadise

    http://www.tourismhamilton.com/

    Get your Recreation Guide from the City of Hamilton here
    Why Hamilton? Find out here
    Social Media and Food in Hamilton here
    View Hamilton, Ontario videos on my website here

    For information on how to Buyers can handle this strong Sellers market in Hamilton, watch for my next blog or contact me by phone or email. kathydellanebbia@royallepage.ca or 905-537-6005.

    March 23, 2015