Chris Salmans's Blog

Return on investment for that summer renovation project

Chris Salmans (Century 21 United Realty Inc.) — Mon, 25 Apr 2011 09:53:52 -0700

Home renovations seem to be a fact of life throughout the summer months. Homeowners are frequently faced with updating the kitchen, bathroom or finishing the basement, among many other things. Often it is hard to know just what projects will give the highest rate of return. The National Association of REALTORS conducted an 8 week survey between June and August of 2010 to see on average what projects produced the best rate of return for home owners. Here are a few of their findings:

Job Surveyed Job Cost Resale Value Cost Recouped

Entry Door Replacement (steel) 1,218 1,243 102.1%

Minor Kitchen Remodel 21,695 15,790 72.8%

Basement Remodel 64,519 45,186 70.0%

Bathroom Remodel 16,634 10,337 66.2%

Deck Addition 15,620 10,337 66.2%

Home Office Remodel 28,888 13,235 45.8%

To see the full list of jobs that were surveyed follow this link or for more real estate information visit ChrisSalmans.com and find me on Facebook, Twitter & Youtube.

Chris Salmans
Sales Representative
Century 21 United Realty Inc.
705.743.4444 bus
ChrisSalmans.com
Top 21 Award Winner 2010

Where to donate items from spring cleaning

Chris Salmans (Century 21 United Realty Inc.) — Wed, 13 Apr 2011 13:22:10 -0700

As you start your spring cleaning, consider donating your discarded clothing and furniture. Call the Salvation Army at 800.728.7825 for drop-off locations or to schedule a free pick up. Find Goodwill in your area at http://locator.goodwill.org/.

The importance of a checklist when looking for homes

Chris Salmans (Century 21 United Realty Inc.) — Mon, 11 Apr 2011 13:39:29 -0700

When looking for a property, the price is far from the only prerequisite. Simplify the home buying process with a checklist of necessary criteria that your new property must fulfill. When you focus on what you absolutely need in your home, you save yourself (and your real estate agent) both time and money. Share your list of priorities with your realtor, so if needed, she can narrow down the search and eliminate any properties that are out of proximity to your work, public transportation, or desired school district.

When viewing potential properties, bring your checklist, so you can easily compare and rank different homes according to how each meets your needs. Remember there is a difference between your wants and your needs. You may need three bedrooms and although you would prefer hardwood floors, they are not essential. You can always do upgrades later, such as finishing off the basement or attic space or pulling up those carpets...what you can’t change is your property’s location and the size of your lot.

We suggest the following should be included on your list: number of bedrooms, number of bathrooms, number of stories, presence/size of a backyard, style of kitchen, presence of a formal dining room, basement, attic and living room, amount of storage and living space, type of heat, presence of central air, and type of siding. If you plan to enlarge a home, check with your realtor to make sure construction is a possibility.

For more information visit ChrisSalmans.com and find me on Facebook, Twitter & Youtube.

Chris Salmans
Sales Representative
Century 21 United Realty Inc.
705.743.4444 bus
705.768.9912 dir
ChrisSalmans.com
Top 21 Award Winner 2010

”DRESS” YOUR HOUSE FOR SALE | LEARN HOW TO GET THE MOST MONEY FOR YOUR HOME!

Chris Salmans (Century 21 United Realty Inc.) — Fri, 25 Mar 2011 09:47:29 -0700

The CENTURY 21® System objective is to sell your home at the best price possible in the shortest amount of time. Highlighting the features of your home is very important if you want to sell close to your asking price and as quickly as possible. Home staging is the process of preparing your home for sale. This guide will help you highlight your home’s best features in ways that appeal to your prospective home buyers’ senses and emotions. It includes great interior-design ideas and home-improvement tips. Staged homes are perceived as comfortable, attractive and well cared for, and have been proven to sell faster and for more money.

QUICK TIP! > get detached It’s difficult to look at our own house in the same way that potential home buyers do. When we become accustomed to the way something looks and functions, we cannot see its faults. Decide right now to stop thinking of the property as a home. It’s an asset you want to sell for the highest dollar possible.

“CURB” APPEAL > The way your home looks from the street can make or break the sale. A large percentage of home buyers decide whether or not to look inside a house based on its curb appeal. The good news is that you can help the situation by spending some time freshening up its exterior appearance for a great first impression. The best way to get started is by viewing your property from the home buyer’s perspective. Ask yourself what is your first impression of the home front, what are the best and worst features and how can you enhance, improve or minimize them?

Click Here To Read The Complete Article And Learn How To Receive The Most Money For Your House!

5 Simple Step To Making Your Home More Secure

Chris Salmans (Century 21 United Realty Inc.) — Thu, 24 Mar 2011 14:05:47 -0700

Home security is an important yet often over looked part of owning a home. Home security doesn’t always have to be elaborate or expensive and a few simple changes can make criminals think twice about robbing your home. Here are five helpful tips to make your home more secure.

1. Install exterior motion sensing lights at entrances to your home and garage.

2. Home security systems are effective but if you can’t afford one try installing dummy stickers and a alarm box in a prominent place on your property.

3. Lock exterior gates to ward of burglars from casing the property

4. Don’t hang keys by entryways.

5. Don’t keep remote garage door openers in easily seen places. Criminals may break into a vehicle if they think it may give them easy access to the home.

For All Your Real Estate Needs Visit www.ChrisSalmans.com Or Call Chris Directly @ 705.768.9912.

2010 Quality Service Survey | Our Customers Speak For Us

Chris Salmans (Century 21 United Realty Inc.) — Wed, 23 Mar 2011 12:39:47 -0700

In order to serve our clients better Century 21 United Realty Inc. delivers a Quality Service Survey to each client after a property transaction occurs. It is extremely important to us that we represent each client to excellent service and expertise. Here is what our 2010 Quality Service Survey results are:

99% of our Customers would use our services again

99% of our Customers would recommend us to their friends

100% of our Customers felt that their Sales Representative met with the CENTURY 21 standard of trustworthiness and professionalism

98% of our Customers felt that we had explained everything they needed to know in an excellent or satisfactory manner

Thank you to each one of our clients for a great year and thanks for entrusting us with one of your most important financial transactions. We are always working on to make each property transaction a great experience.

If you are looking for an award winning Realtor call Chris Salmans at 705.743.4444bus to receive the excellent service and expertise that you deserve.

Changes to Mortgage Rules

Chris Salmans (Century 21 United Realty Inc.) — Wed, 16 Mar 2011 11:29:07 -0700

The Government of Canada announced adjustments to the rules for government-backed insured mortgages. These changes are an effort to address concerns about the increasing levels of Canadian household debt. They are designed to ensure that homebuyers don’t risk their financial security by buying more than they can afford.

So what do these adjustments mean to the average homeowner?

Here’s a look at the new rules that were announced by Finance Minister Jim Flaherty:

Reduce the maximum amortization period to 30 years from 35 years for new government-backed insured mortgages with loan-to-value ratios of more than 80 per cent.

By reducing the amortization period for new high-ratio mortgages, monthly payments may be more, but Canadians will be able to decrease the amount of interest paid on their mortgages. According to Adrienne Warren, Senior Economist for the Bank of Nova Scotia, the impact of the change to amortization would be relatively modest, at about $100 more per month in carrying costs for an average home.

The new rule takes effect March 18, 2011 and will only affect people buying homes after this date. If you already have a mortgage (either a 35 or 40 year) you should be able to keep it through your renewals.

5% continues to be the minimum down payment.

Lower the maximum amount Canadians can borrow in refinancing their mortgages to 85 % from 90 % of the value of their homes.

This new rule is an attempt to promote “saving through home ownership and limit the repackaging of consumer debt into m ortgages guaranteed by taxpayers”.

This rule also takes effect March 18, 2011

Withdraw government insurance backing on lines of credit secured by homes, such as home equity lines
of credit (HELOCs).

According to a Globe and Mail interview with personal finance expert, Rob Carrick, there has been no indication of upcoming changes to how lenders do business. In theory though, by withdrawing government-backed insurance, lenders could start charging higher interest rates on new credit lines or create tougher qualifying requirements.

Home equity lines of credits have been growing in popularity as a borrowing tool and the Federal Government is attempting to slow the growth of this type of borrowing.

This rule takes effect April 18, 2011

No matter what situation you’re in, whether you are a current homeowner or are in the market for a new place, it’s a good idea to take a hard look at your finances and know where you’re money is going.

There are still many mortgage options for homebuyers. Do your research and talk to a Realtor or a mortgage broker to find out what your options are.

For all your real estate needs go to ChrisSalmans.com

Five Reasons Why It's Smart to Buy a Vacation Rental Home

Chris Salmans (Century 21 United Realty Inc.) — Sat, 05 Mar 2011 11:31:33 -0800

If you’ve been thinking about purchasing a vacation home for investment purposes, at least one expert thinks it’s time to stop procrastinating. Now, she says, is the time to buy.

“Vacation homes are almost always a good investment,” says Christine Karpinski, author of How to Rent Vacation Properties by Owner, 2nd Edition. “There has never been a better time to buy a vacation home—it’s like the planets have all lined up perfectly.”

Karpinski, who owns vacation homes in several parts of the country, says that she is looking for new properties herself. Here’s why she thinks now is a great time to go vacation rental house-hunting:

Inventories are flush. The housing slump has had one positive result: there are plenty of available properties. Once you decide on location—ski resort, beach, mountains, etc.—you’re likely to find many properties from which to choose.
Prices are affordable. Karpinski says that in many parts of the country, prices are the lowest they’ve been in five to 10 years.
Interest rates are favorable. Take advantage of the historically low interest rates while they last.
It’s never been easier to rent. Vacation home rentals are very popular, as more and more consumers choose to stay in cozy cabins and chalets instead of impersonal hotel rooms. And organizations have sprung up to help match vacation home owners with potential renters.
If you buy now, you’ll be ready for the 2011 season. Buy now, and you can get your property ready to rent during peak periods. Karpinski says that many vacation homeowners earn enough money between Memorial Day and Labor Day to pay their mortgages for an entire year—and inquiries come in between January and March.

Why should you get pre-approved before you start to browse

Chris Salmans (Century 21 United Realty Inc.) — Fri, 04 Mar 2011 11:07:18 -0800

Getting pre-approved before you start your house hunt provides you with an edge over other prospective buyers, saves you time and can spare you the disappointment of falling in love with a home you cannot afford. First, there is a difference between being pre-qualified and pre-approved. Pre-qualification refers only to the amount for which you might expect to be approved, and is not an in-depth evaluation or your credit report.

Getting pre-approved is the next step and more involved, as a lender performs an extensive check on your financial background and current credit rating. The lender can tell you the specific mortgage amount for which you are approved and give you an idea of your interest rate.

Armed with the exact loan amount you will qualify for and the interest rate you can expect will save you and your REALTOR ® time by eliminating houses out of your price range. Also, when you do put an offer on a house your pre-approval letter gives you leverage over other potential buyers by showing sellers that you are a serious buyer with financial strength.

To learn more and get started on the pre-approval process, give me a call today.