Liz's Blog

West Lethbridge - Rainbow

Tue, 22 Jul 2008 23:41:26 -0500

High Level Bridge - Lethbridge, AB

Tue, 22 Jul 2008 23:37:09 -0500

Whoop Up Drive - Lethbridge, AB

Tue, 22 Jul 2008 23:34:15 -0500

West Lethbridge - Nicholas Sheran Park

Tue, 22 Jul 2008 23:30:07 -0500

Lethbridge Condo for Sale: $269,900 - Lethbridge Real Estate

Fri, 18 Jul 2008 20:24:38 -0500

Students, investors and young professionals.... #5, 635-6 St. S., Lethbridge, AB is the place for you!! This 4 year old condo is located minutes from the heart of Lethbridge. Young professionals are a few minutes walk from several law offices, banks and the Lacidem (medical) building and students are a quick drive to both the Univerity of Lethbridge and the Lethbridge College.

This classy 2-storey has all the comforts including 3 spacious bedrooms with tons of closet space, 3 baths, air conditioning, fireplace and a single attached garage. No grass to cut and no sidewalks to shovel and a condo fee of just $150/month gives you plenty of time just to enjoy life and the good investment you made in your new condo!

For inside photos and more information, visit us at

Lethbridge Real Estate!

Is it Fraud? REALTORS® Beware!!!

Wed, 16 Jul 2008 21:28:43 -0500

I recently was working on a listing for a nice young couple from my former hometown. They had asked me if I would list their property after they had tried for several months to sell it privately. The catch was, they first wanted to wait to see if a private deal they had secured would come to fruition. They were waiting for a cheque in the mail from a man from overseas who had expressed interest in their property and had promised to send a "deposit". Well, the day that we (my partner in real estate) and I were to go list, they got that cheque in the mail. They canceled our listing appointment, but still wanted us to do the paperwork for the transaction.

After several questions about the private deal, we learned that:

RED FLAG #1: the man had sent a very large cheque which he wanted the young couple to cash and then send back half of so that his "financier" and his "investment partner"could fly to Canada and view the property first hand.

RED FLAG#2. The man claimed that he was from England, yet the postmark was from a different country.

RED FLAG#3. The cheque looked legitimate they said, but was missing a return address and the man had provided no contact information for himself.

After gently insisting to the unknowing couple that they were possibly in the middle of a money laundering scheme and providing them contact information for Phonebusters, they decided that they would go with another REALTOR®.

Disappointing??? Not in the least. I would much prefer to work with clients who trust that I am a professional and give credit to the high standards that a REALTOR® must adhere to (which now in Canada includes being aware of and reporting possible suspicious transactions, among our many other roles).

Do I hope they cash that cheque?? Of course not. It is devastating to be a victim of fraud and I would not wish that upon anyone. Do I hope they will report it and find out for themselves or check online to see that it may be an integration technique of money laundering? Absolutely!

As REALTORS®, our role in the real estate transaction seems to be growing daily. We must be aware of financing options, property structures and condition, techniques to determine market analysis, market trends, changes in zoning and future developments, the state of the economy and now money laundering techniques too??? There shouldn't be a professional REALTOR® out there who can't justify the commission they charge... we are the multitasking bargain of the day if you ask me!

Visit us for more information on Lethbridge Real Estate

Lethbridge Real Estate - Market Report for June 2008

Mon, 07 Jul 2008 22:52:28 -0500

Here's how the month of June stats looked:

Total # of Listings (Month) - 653 (Up 30% from June 2007)

Total # of Listings (YTD) - 3437 (Up 36% from 2007)

Total # of Expired Listings (Month) - 170 (Up 240% from June 2007)

Total # of Expired Listings (YTD) - 642 (Up 228% from 2007)

Total # of Sales (Month) - 279 (Down 13% from June 2007)

Total # of Sales (YTD) - 1436 (Down 20% from 2007)

Although it appears that the number of expired listings (month) is still astronomical compared to last years data, it is actually showing signs of improvement when compared with the May 2008 stats. And although sales for the month are down 13% for June compared to 2007 stats, they are again showing signs of improvement when compared to May sales that were down 32% from previous years numbers.

What does all this mean?? It appears that the market is slowly, but surely correcting itself. It also teaches us that we may not be wise to compare to last year! Really... is it a fair comparison to make?? Last year was off the charts and comparing to those skewed stats will only keep us from moving forward today!

Seller's still need to be diligent in pricing a home in Lethbridge and be realistic when faced with a large number of competing homes for sale. If a buyer is shopping for a pair of pants and they all look pretty much the same, it's simple logic that says they will buy the least inexpensive pair. The same could be said about houses right now... so make sure your house in the one "On Sale"!

Visit us for more information on Lethbridge Real Estate.

Single Woman Home Buyers and Lethbridge Real Estate

Fri, 13 Jun 2008 22:11:00 -0500

Fierce and sassy, well equipped with confidence and a pay cheque to back it, single woman home buyers are taking the real estate world by storm. According to the most recent (2007)stats from the National Association of REALTORS®, single women accounted for 22% of all home purchases with single men trailing behind at just 9%. One in five single women are taking the bull by the horns and plunging into home ownership!

So what are the driving forces behind this growing trend? Here are my thoughts:

1. Women are more organized. Face it guys, we have you beat here ; ) and with all that organization comes the discipline needed to scrape together a down payment. It's also that organization that helps us keep our bills paid on time protecting that much needed credit score that's so very important at mortgage time!

2. Women are making more money and are feeling the independence that comes with a bigger pay cheque. No more waiting for Price Charming or Mr. Right to make our real estate dreams come true. Our focus instead, has shifted to "The Mortgage Guy", the REALTOR® and perhaps the cute guy at Home Depot!

3. Women are (generally) more likely to "do their homework" before embarking on a big purchase. In the home purchase process, that can mean anything from getting pre-approved for a mortgage, to interviewing REALTORS®, to checking into the cost of renovations before viewing that "fixer-upper". Knowledge is power and familiarity with things such as the steps to buying a home or how much home you can afford makes the transaction smoother and less stressful for everyone!

I bought my first home (with the help of my parents) as a single 23 year old girl. It's where I lived when I met my future husband (now my current beloved!) and we said our wedding vows in that very back yard. We've since moved on together to our second home, but I got to take with me some wonderful memories not to mention a few extra greenbacks from that sweet little starter that I had the courage to go it alone on!

For more information on how to get the ball rolling have a look at First Time Home Buyers in Lethbridge - 3 Great Reasons to Buy Now and The Steps to Buying a Home. Or you can check out a great little book by Brenda Bouw called Home Girl - The Single Woman's Guide to Buying Real Estate in Canada.

You can also visit us at Lethbridge Real Estate for more tips on home ownership and how to make it happen!

First Time Home Buyers in Lethbridge - 3 Great Reasons to Buy Now!

Tue, 10 Jun 2008 15:30:14 -0500

If you are looking to become a first time home buyer in Lethbridge, Alberta, now may be the time for you to make your move. Conditions are favorable for first time home buyers and now is as good a time as ever to get into the housing market. Here are 3 great reasons to get onto the property ladder and start building your real estate portfolio:

1. Huge Selection - Right now there are 623 homes for sale in Lethbridge (including single family detached houses, 1/2 duplexes and condominiums) Can you say selection! This doesn't even include homes for sale in the nearby communities such as Coaldale, Coalhurst and Nobleford. Buyers are able to look without pressure and with plenty of time to make an unhurried, informed decision.

2. Interest rates are still low - At the time of writing, the prime lending rate is just 4.75% and with fewer buyers looking for homes (compared to this time last year), banks and mortgage brokers in Lethbridge are willing to work hard to earn your business.

3. Even with the inflation of home prices, there is still great opportunity to be had. Many buyers may feel that perhaps their opportunity to buy has passed... not true! If you are single and can't qualify for a mortgage on your own, you may want to partner up with a like minded individual and purchase a home together, or consider buying a home with a suite in the basement that could generate some income. If you dont' have a down payment, you may look at having a family member gift it to you or the possibility of a $0 down mortgage. Low vacancy rates (less than 1%) have rental prices creeping up so get into home ownership and quit making your landlords mortgage payments!

The best time to plant a tree was 20 years ago... the next best time is today. The same goes for purchasing a home, so get in touch with your REALTOR and make your move while the water is still warm!

Visit us for more information on Lethbridge Real Estate.

Lethbridge Real Estate - Market Report for May 2008

Mon, 09 Jun 2008 23:26:57 -0500

Current market conditons should always be considered when trying to decide if it's the right time to buy or sell real esate. Here's how the month of May looked in Lethbridge:

Total # of Listings (Month) - 696 (Up 33% from 2007)

Total # of Listings (YTD) - 2784 (Up 38% from 2007)

Total # of Expired Listings (Month) - 101 (Up 274% from 2007)

Total # of Expired Lisings (YTD) - 473 (Up 224% from 2007)

Total # of Sales (Month) - 273 (Down 32% from 2007)

Total # of Sales (YTD) - 1156 (Down 22% from 2007)

So, what can we interpret from this data?

Well, the number of expired listings continues to climb as sellers and REALTORS® alike are perhaps failing to realize how important it is to set a realistic list price when faced with stiff competition and a limited number of qualified buyers. Gone are the days of pulling a price out of a hat and hoping for the best. And based on the fact that total sales for the month are down substantially (last month, they were only down 14% from the previous year as opposed to 32% this month) we can assume that buyers are taking their time. They are realizing a shift in their favour and adjusting accordingly.

So what can a home seller do to be positioned correctly when it comes time to sell? Well, it simply doesn't matter how well you home shows and how fantastic your location is if your price is still not in line with current market conditions. There are a limited number of qualified buyers at this time, so when one of them walks through your home with the intent to purchase, make sure that your home appears to have the highest perceived value.

The moral of my story is, "When selling your home in a buyers market , you may only get one chance to make a first impression!" Make your home one of the most appealing amongst it's competition and find a qualified REALTOR® who knows how to help you do this!

Visit us for more information on Lethbridge Real Estate !

The Steps to Buying a Home - Lethbridge Real Estate

Mon, 02 Jun 2008 23:00:50 -0500

With these four easy steps, you can be on your way to home ownership:

1. Pre-Qualify: Contact the mortgage specialist at your bank or a mortgage broker and make an appointment to meet with them. Be prepared and bring with you verification of your income from your employer or at least 2 years of tax returns. You may also need to verify that you have money set aside for a down payment or for closing costs (this can be done with a current bank statement, RRSP statement or a gift letter if the money is coming from another source.) Also be prepared to list your assets and liabilities. Keep in mind that lenders still consider the 5 C's when assessing you as a lending risk: Capital, Collateral, Character, Credit (rating) and Capacity (to pay back the loan).

2. Choose a REALTOR® to represent you: You may want to interview several and some of the questions you might ask are: How long have you been in Real Estate? Are you a member of the MLS®? Can you recommend other professionals to assist in the purchase process? Ask them about current market conditions and if they can supply the names of past clients they have worked with to serve as references. Choose someone who you feel will be accessible and compatible with you. Buying a home is a large investment and you will want to feel comfortable working with the REALTOR® who guides you through it!

3. Meet with your REALTOR® to discuss your needs and wants: Talk about amenities, style of home, budget, location, parking, number of bedrooms and bathrooms desired and anything else you think is important. Your REALTOR® can only find you what you want when you have a clear idea of what it is you want, so think about it beforehand. Talk about what times are best for you to look at homes and how you wish to be notified of new properties that meet your criteria.

4. Start your search!!

Having a REALTOR® on your side through the buying process is just a smart move. A REALTOR® will take into account your needs, wants and budget, search through available houses and present them to you, schedule showings and then guide you through the purchase contract and negotiations. REALTOR® fees are generally paid out by the seller, so it's usually no money out of your pocket to have the expertise and support of a REALTOR® working hard for you to find you the right house at the right price.

Visit us for more information on Lethbridge Real Estate

Homes for Sale in Lethbridge, Alberta

Mon, 02 Jun 2008 00:06:07 -0500

If you are looking to purchase a home in Lethbridge, Alberta, take a peek at my Featured Listings.

If you don't see a home here that suits your needs, take a minute to describe your needs and wants and I will have your ideal homes emailed to you daily as they are listed.

If you're not quite sure what your next move should be, just get in touch with me and we can put our heads together to figure out what is the best move for you!

I look forward to helping you in your home purchase!!

Liz Toles, REALTOR® - Coldwell Banker First Lethbridge Realty

Visit us for more information on Lethbridge Real Estate.

Preparing a Home for Sale in a Buyer's Market

Sun, 01 Jun 2008 14:56:15 -0500

Many parts of Alberta are experiencing what is known as a buyer's market, which in simple terms means that there are more properties available than there are buyers willing or able to purchase them. A seller in this type of market has their work cut out for them. They are faced with stiff competition and their home's perceived value needs to be at it's maximum if they want to sell within a reasonalble amount of time and for the most money the market will bear. So what can a home seller do to prepare their home for sale and give themselves an edge over the competition?

Here are a few of my favorites:

1. Have your home staged: It's just as it sounds... set the stage for potential buyers. Make it easy for any buyer that walks through your home to envision themselves living there.

2. Consider having a pre-inspection report done, especially if you are the owner of an older home. It can be a useful tool in helping you decide what repairs may need to be done before you sell. It can also minimize delays on closing due to unexpected surprises in the condition of the home. It may be worthy to note that some inspection reports are only valid for the purchaser of the report with respect to warranties and representations.

3. Have all the necessary paperwork ordered or available. In Alberta, the Seller Brokerage Agreement states that "not having a current real property report with compliance may result in complications on closing or rescission of the purchase contract." Other documents you may want to have handy might include your current tax assessment, copies of utility bills, any long term service contracts (for utilities, alarm systems, etc.) and any other documentation that may affect the saleability of your home.

4. Work with your REALTOR® to make your home accessible to potential buyers. You can't sell a secret, so get as many sets of eyes viewing your property as possible. Remove yourself (if possible) and any pets from the home during showings to allow the buyer's to have a "relaxed" view of your home. Encourage your REALTOR® to give you updates along the way of their marketing activities and the ways that they are "getting your home out there" to potential buyers.

Visit our website for more information on Lethbridge Real Estate

Increasing Energy Efficiency in Homes in Lethbridge, Alberta

Wed, 07 May 2008 00:01:31 -0500

Energy efficiency is a topic that any smart homeowner should take an interest in. So, what's in if for a homeowner to increase their home's efficiency?

A. Save $$

B. Save the planet

C. Increased enjoyment and comfort

D. Any combination of the three!

While newer homes tend to be built with energy efficiency in mind, not everyone wants a new home. I personally love my older home for it's unique features, larger lot size and mature landscaping. So, where is your money best spent as the owner of an older home with regards to increasing the home's efficiency? Here are three of my faves:

1. Quit flushing money down the toilet...install a low flush or dual flush toilet. Or better yet, install a dual flush toilet retrofit kit to your existing toilet. Dual flush toilets were found to save an average of 26% more water than the single-flush 6-litre (1.5 gallon) toilet when used to replace non-efficient toilets. The added bonus is that you may be eligible to recoup up to $50 of your cost with the Natural Resources Canada's ecoENERGY retrofit for homes program. They have licensed AmeriSpec of Canada to perform their residential energy evaluations and there is a maximum grant amount of $5000 available for each home.

2. Upgrade your insulation. There's usually room for improvement here, so don't pay to heat the great outdoors. You know what your utility company charges and their rates are not likely to decrease... so keep that heat inside! Your ideal insulation levels will depend on your roof and attic type, but you are looking to hear numbers like R-28 for a flat roof and between R-40 and R-50 for others.

3. Heat and cool your home efficiently. As much as half your homes energy is used by the heating and cooling systems, so pretend these two systems are cars. Change the filters regularly and treat the units and their systems (ducts) to regular tune ups... it's money well spent.

More good news... if you are purchasing an older home and want to make these upgrades before you move in, talk to your mortgage specialist to find out how the costs can be included in your mortgage!

Check us out for more information on Lethbridge Real Estate!

Moving to Lethbridge, Alberta

Sun, 04 May 2008 16:26:37 -0500

If you are considering moving to Lethbridge, Alberta here is some information that may help you make your decision!

Overview

As of May 2008, our city's population is just over 81,000 and growing steadily. The city is divided into three main areas, namely South Lethbridge, North Lethbridge and West Lethbridge. Lethbridge is situated roughly an hour and a half drive south of Calgary, AB which is home to the Calgary International Airport (YYC), and roughly an hour and a half north of the Montana, US border.

Weather

There is a saying about the weather in Lethbridge, AB... if you don't like it, wait an hour and it will change! Although our weather patterns are sometimes unpredictable, our winters are generally milder thanks to frequent "chinooks" or the warm west winds that provide reprieve from our cold snaps.

Employment

Service and trade industries generate more than 50 per cent of all the occupations in Lethbridge. The majority of occupations are diversified across the industries of manufacturing, public sector services, construction, transportation, finance/insurance/real estate and food processing.

Lethbridge employers draw workers from a large commuting area consisting of rural areas and smaller towns and villages within a 100 kilometer radius. The extended workforce population is estimated to be 86,000.

Our current unemployment rate as of March 2008 sits at just 5% and there are many convenient ways to search for jobs in Lethbridge.

Schools and Post-Secondary Education

There are an abundance of choices when it comes to education and schools in Lethbridge. The Lethbridge School System consists of the Lethbridge School District No. 51 and the Holy Spirit Roman Catholic Separate Regional Division No. 4. It is also home to both the University of Lethbridge and the Lethbridge College. The U of L boasts flexible undergraduate programs in Arts and Science, Education, Fine Arts, Health Sciences and Management and the Lethbridge College also offers a wide array of both credit and non-credit programs and courses.

Lifestyle

There are countless ways to enjoy your free time in Lethbridge. For the sports enthusiasts, we are home to the Lethbridge Hurricanes Hockey Club, the Lethbridge Bulls Baseball Club, and the Lethbridge Soccer Centre to name a few. If the arts are for you, you can check out the New West Theatre productions or the Lethbridge Symphony. Or you can just take a stroll though one of our many parks and recreation areas. There's lots to do when you are seeking entertainment in Lethbridge.

If you've already made your decision to move, give me a call and I can help you find the perfect home. Or check us out at Lethbridge Real Estate for answers to all your real estate questions and helpful moving tips and checklists!

Lethbridge Real Estate - Market Report for April 2008

Sun, 04 May 2008 15:04:32 -0500

Spring has sprung, the grass has ris, and here's how the state of the market is:

Total # of Listings (Month) 615 (Up 54% from 2007)

Total # of Listings (YTD) 2089 (Up 40% from 2007)

Total # of Expired Listings (Month) 106 (Up 203% from 2007)

Total # Expired Listings (YTD) 373 (Up 213% from 2007)

Total # of Sales (Month) 276 (Down 14% from 2007)

Total # Sales (YTD) 881 (Down 18% from 2007)

So what can we interpret from these stats as a REALTOR® or a home seller? Well, it appears that there are both more listings for buyers to choose from and also less buyers looking at this time, so if you are selling a home, you have your work cut out for you!

As a seller what are some things you can do to make your home stand out from the other 568 homes for sale in the City of Lethbridge at this time?

1. Set a selling price that is realistic and will make your home's perceived value appear the highest to buyers.

2. Make your home sparkle. Clean, de-clutter and stage your home to give it that extra edge against the competition.

3. Choose a qualified REALTOR to represent you. They will have the knowledge to help you set the right price, the expertise to market your home to it's full potential with the help of the MLS® and the knowledge to guide you through the steps to selling your home from start to finish.

Check us out for more information on Lethbridge Real Estate

Renovate vs. Move

Thu, 01 May 2008 23:10:41 -0500

Renovate vs. Move: What is the best choice for you?

When deciding whether to renovate your home vs. move, you will want to consider the return on renovation investments. Here are some projects for which the Appraisal Institute of Canada’s members projected average payback value ranges.

Top four greatest payback potentials:

-Bathroom renovation (75–100%)

- Kitchen renovation (75–100%)

- Interior painting (50–100%)

- Exterior painting (50–100%)

Ten average payback potentials:

- Roof shingle replacement (50–80%)

- Furnace / heating system (50–80%)

- Basement renovation (50-75%)

- Recreation room addition (50-75%)
- Installing a fireplace (50–75%)

- Flooring (50–75%)

- Constructing a garage (50-75%)

- Window / door replacement (50-75%)

- Building a deck (50-75%)

- Central air conditioning (25-75%)

Six lowest payback potentials:

- Landscaping (25-50%)

- Interlocking paving (25-50%)

- Building a fence (25-50%)

- Asphalt paving (20-50%)

- Adding a swimming pool (10-40%)

- Installing a skylight (0-25%)*

For an unbiased, impartial home renovation cost-benefit valuation, consult an accredited member of the Appraisal Institute of Canada. You can find the names of appraisers in your area at www.aicanada.ca under the heading “Find an Appraiser”.

*Information from the Appraisal Institute of Canada’s 2004 Home Renovation Survey. Consumers should be aware that home values and returns on renovation investments are dependent on many factors such as the location of the property, the neighbourhood and notably, the quality of workmanship and materials. For more information go to www.aicanada.ca/renova.

Check us out for more information on Lethbridge Real Estate

Lethbridge Real Estate - Market Report for March 2008

Tue, 22 Apr 2008 21:50:07 -0500

I attended a Coldwell Banker International Business Conference in March of 2007 in Las Vegas, NV and I remember the speaker in one of the presentations talking about the "soft market" and the "hard times" that many parts of the US real estate market were facing. I remember thinking "What is this guy talking about? This is one of our best years ever in real estate in Southern Alberta!" I also remember thinking back to when I was a teenager and in comparison to the US, we were always slow to get new music, technology, economic changes, etc...

Well, the real estate market has definitely changed here in Southern Alberta, but we have yet to see the devastating effects of sub-prime lending and I personally don't think that we will see them to that extent. The latest stats published by my real estate board (the Lethbridge and District Association of REALTORS®) as of March 2008 read as follows:

Total # of Listings (Month) 531 (up 23% from 2007)

Total # of Listings YTD 1474 (up 34% from 2007)

Total # of Expired Listings (Month) 96 (up 159% from 2007)

Total # of Expired Listings YTD 267 (up 218% from 2007)

Total# of Sales (Month) 243 (Down 28% from 2007)

Total # of Sales YTD 604 (Down 21% from 2007)

The number that sticks out quite clearly to me is the increase in expired listings. It seems to me that there are a couple of reasons why this number is through the roof:

1. Sellers are having a hard time letting go of "what might have been" and are continuing to overprice properties.

2. REALTORS® are not doing a proper job of educating sellers that this is a different market and that a different set of rules now apply and we are allowing sellers to overprice their properties.

What can we as REALTORS® do to help ourselves and our clients?

Say's law says, "No good or service will remain chronically unsold, as long as prices remain flexible."

So, all we really need to do is get real about prices. We are not powerless to effect changes within our industry. We are not at the mercy of interest rates, government policy, the weather (insert whatever outside force you want to here). We are the ones who have direct contact with buyers and sellers. We have the power to educate them about the type of market we are in and how each and every one of them can benefit from it as long as they are realistic about it. We have the influence and market expertise to help our motivated sellers be at the correct price when the right buyer walks through.

The market has changed and so must we and the more quickly we can adapt, the faster our market can level off to where it needs to be and then continue on it's ever changing cycle!

Check us out for more information on Lethbridge Real Estate

Correctly Pricing a Home

Wed, 26 Mar 2008 22:05:01 -0500

And the listing goes to .....the REALTOR® willing to put the highest price tag on the property?????? Time and time again I see the "honest, straight shooting" REALTOR® lose a listing to the guy who tells the homeowner that the home is worth far more than the current market will bear. As a listing agent, our duty lies in getting the most money possible for the homeowner. But does our duty not also lie in doing our due diligence and pricing the property at the RIGHT price... not just telling a homeowner that their home is worth far more than it actually is in order to secure the listing?

I am a big fan of PROPER pricing. The highest price is not always the best price, but how do you convince your seller that you are acting in their best interest? Especially when you have a vested interest in their home selling?? Or if you are in competition for the listing and another agent is promising a higher list price? Here are some pricing objections I've personally had to face and the strategies I am using to overcome them:

Objection 1:

Realtor B says they will list it for a higher price.

Strategy 1:

Remind the seller that they should be selecting their REALTOR® based on their past performance, marketing strategies and good communication skills. The seller should hire the REALTOR® then set the price. Reversing these steps could be a costly and time consuming mistake on the sellers part.

Objection 2:

Could we just try this price for a few weeks?

Strategy 2:

Sure this "fishing" technique may have worked when there were an abundance of fish in the sea! But when buyers are a scarce commodity, we need to make sure we are at the right price when the right buyer walks through the home. Most activity happens in the first 2 - 3 weeks. Overpricing it during this "peak" period could be a costly mistake! In this softer market, sellers may only get one chance to make a first impression... so come out of the gate strong!

Objection 3:

But we paid $$ for it / We have paid $$ for improvements.

Strategy 3:

Simple response: The home is only worth what a buyer is willing to pay for it. Then go back to the comparables and reiterate what buyers have been willing to pay for similar homes in the recent past. If you are still getting objections (and are feeling brave) you could ask, "If you had inherited the home and paid nothing for it, would you be willing to sell it for nothing?" Then gently remind them that there is no relationship between cost and value.

Objection 4:

If someone really likes it, they will make an offer.

Strategy 4:

Absolutely not true, for a number of reasons. Humans are funny creatures. If your price is way out to lunch, buyers may not want to be insulting. They may think that if you are so unreasonable in your initial price, that you will be inflexible with a lower offer. They may think you aren't serious about selling (as your "not serious about selling" price may imply). And most importantly, if you are in the wrong price range, the wrong buyers will be walking through your home! The buyers that can afford your price range will see your home and if they are doing their due diligence, they will know they can get more bang for their buck elsewhere. And then they will go elsewhere! And the right buyers (the ones that could afford your home if it was priced properly) won't get a chance to set foot in the door because you will be out of their price range! You see where this is going right???

Objection 5:

If we don't get any interest, we can reduce the price:

Strategy 5:

Keep track of price reductions in your area. I know in my area at the time of writing, they are far more predominant than the SOLD's! Educate them about the price reduction game and show them the homes that were reduced, reduced, reduced and finally sold below market value. Why below? Because by the time the "Price is Right", the game is over! The serious buyers have come and gone and the initial excitement about your "new listing" is dead and gone. Again I say (and you can quote me!)..... "Come out of the gate strong!"

At times it's tempting to take an overpriced listing and especially in a slower market. Remind yourself.... overpriced listings can be costly and very time consuming (and more than likely there is no "pot of gold" at the end of that rainbow for anyone!). And when it comes down to it, overpricing a listing is unprofessional. You could be costing your seller extra payments, extra headaches and possibly the successful sale of their home. Proper pricing is the sign of a professional.... so just do it!!!!!

Check us out for more information on Lethbridge Real Estate

Lethbridge Realtor Back for More

Thu, 21 Feb 2008 23:44:34 -0600

This is officially my first blog.... ever. I wasn't a big fan of blogging, but after doing some research on the subject, I may be coming around. I figure that if my blog posts will give some insight as to what I am all about and the quality of person to which you will either be working with or sending a referral to, then I am all for that. So here goes!

I have been active in real estate for 3 years this coming May. I entered the real estate market at the onset of the upward swing in Southern Alberta, so needless to say, I have yet to see a soft market. I am lucky enough to have a mother/mentor who has been in the industry for 11 years now, so I have greatly benefited from her knowledge and experience. I love the real estate industry and all the challenges that go with it. It is a profession that changes daily and if you don't stay on top of things, you will definitely get lost in the shuffle. I have been on maternity leave for the past 6 months and have very much enjoyed being at home with my little girl Peyton and my little man (3 yrs.) Zach. As much as I have enjoyed being at home, I am ready to enter the world of the working as being at home with small children truly is the hardest job in the world! Even being out for just six months, I feel as though the industry has changed so much!

The things I love about real estate are that every client/customer is different, therefore every transaction is different. You almost have to have a degree in psychology to be able to read each person and interpret their different needs, wants, communication styles, etc...and you can never do enough to keep up with the steady stream of new information, marketing techniques, market trends and other information that is crucial to succeeding in this business. My hat goes off to anyone who has been in this business for a long period of time.... you have earned your place on my honour wall!

So on that note, I am back. I am not quite in the trenches yet as I am working hard on my new website (and at finding quality child care that will cater to the working hours of a REALTOR®!) You can visit my website at www.mylethbridgerealtor.com and I am always happy to receive feedback (even if it's just to tell me I have a typo on there!) Thanks to all of you who have survived this business at the worst of times and the best of times... you are an inspiration.

Check us out for more information on Lethbridge Real Estate