Blog - Billy Peshke

Discovering that a home you like has “issues”

Say you’re viewing a home and are impressed with how it looks. The walls are freshly painted. Everything seems bright and new. You’re considering making an offer. Then, while standing on a mat in the kitchen, you hear a squeak below your feet. You lift the mat and see that some tiles are broken. Obviously the mat was there to, literally, cover up that defect. A few broken tiles are not a big deal. But now you’re thinking, “What else might be wrong with this house?”

There’s no reason to worry that every home will have maintenance issues hidden from view. However, it’s smart to do your due diligence to ensure the home you’re considering is truly as good as it looks. One way is to have a professional home inspector check out the property as a condition of…

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July 2015 - How Much Should You Budget for Home Maintenance?

If you own a car, you know there’s more to the cost-of-ownership than just finance payments and gas. You also need to budget for maintenance and repairs. If your car is older, those costs are going to be higher. That’s just common sense.  

The same is true of your home. It’s wise to budget for anticipated repairs and maintenance. Otherwise, you might be caught by surprise when you find that your furnace stops working and needs to be replaced. That can easily be a four-figure expense. 

Experts recommend that you set aside 1% of the value of your home for repairs and maintenance. For a $500,000 property, for example, that would be $5,000. That is, of course, merely a rule of thumb. If your home is older, you may need to budget more. 

Another…

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July 2015 STATS

CALGARY MARKET UPDATE (Based on 30 Days)

July 3rd 2015
Active: 5238
Sold: 2181
Average List Price: $496,546...
Average Sale Price: $484,781
Average Days on Market: 40 Days
Sellers are getting 98% of asking price, 42% of homes on the market today are expected to sell within the next 30 days. The absorption rate is at 2.40% meaning we are in a balanced market

AIRDRIE MARKET UPDATE (Based on 30 days) 

July 3rd 2015
Active: 391
Sold: 156
Average List Price: $396,357...
Average Sale Price: $389,095
Average Days on Market: 47 Days
Sellers are getting 98% of asking price, 40% of homes on the market today are expected to sell within the next 30 days. The absorption rate it at 2.51% meaning we are currently in a balanced market.

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July 2015 - The “3 Up” Strategy for Selling Your Home Quickly

There are many reasons why you may need to sell your home quickly: a sudden job relocation; a change in family situation; or perhaps an opportunity to purchase a new home that you just can’t pass up.   

Whatever the reason, this strategy will help when you need to sell fast. It’s called the “3 Up” strategy. 

• Fix it up. 
• Clean it up.
• Spruce it up. 

First, you need to fix it up. That simply means getting things repaired around your property, such as a broken floor tile in the kitchen or a sticking patio door that’s difficult to open and close. Maintenance issues like these distract buyers from the appealing qualities of your home. Fortunately, repairs can usually be done quickly. 

Second, clean it up. Obviously, when your home is clean and…

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June 2015 - Will the neighbourhood go up in value?

When you purchase a home, you’re hoping it will continually go up in value — just like a good investment. 

However, there’s something else that you want to see go up in value as well: the neighbourhood. In fact, the neighbourhood plays a key role in what the home will be worth in years to come. If the neighbourhood goes down in terms of desirability, so will the market value of the home. 

That’s why, when shopping for a new home, it’s important to get a feel for the value of the neighbourhood, and whether or not it’s on the upswing.  

How do you do that? One way is to simply take a walk. Look at the properties. Are they well maintained? Is the landscaping groomed and attractive? Those are signs of “pride of ownership” — a clear indication that…

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AIRDRIE MARKET UPDATE (Based on 30 days) - June 1st 2015

Active: 383
Sold: 145
Average List Price: $400,593
Average Sale Price: $393,529
Average Days on Market: 37 Days 
Sellers are getting 98% of asking price, 37% of homes on the market today are expected to sell within the next 30 days. The absorption rate it at 2.64% meaning we are currently in a balanced market.

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CALGARY MARKET UPDATE (Based on 30 Days) - June 1st 2015

Active: 5469
Sold: 2121
Average List Price: $493,454
Average Sale Price: $481,452
Average Days on Market: 41 Days
Sellers are getting 98% of asking price, 38% of homes on the market today are expected to sell within the next 30 days. The absorption rate is at 2.57% meaning we are in a balanced market

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June 2015 - Should You Sell First and Buy Later? Or Vice-Versa?

When you’re thinking of selling your home and buying another, you face the inevitable question: Should I list my property first or buy my new home first?   Let’s take a look at both options.  If you attempt to buy a property before listing your home, you run into a couple of challenges.   First, sellers may not take you seriously as a potential buyer. After all, you haven’t put your own home up for sale. As far as they’re concerned, you might merely be testing the market.   Second, your property might not sell as quickly as you thought it would. If there is an early closing date on the home you purchased, you might end up owning, and paying a mortgage on both properties, at least until your home sells. 

If, on the other hand, you list your property…

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“Closing Day” Terminology You Need To Know

Closing day is an exciting time. After all, you’re moving into your new home! However, it can be stressful as well. The last thing you need is to be confronted with something you don’t understand. So here is a quick list of common “closing day” terms.

• Disbursements. This is the allocation of funds to the appropriate parties, such as the seller. Your lawyer will take care of this for you.
• Possession. This is the moment on closing day when you are legally able to take possession of your new home. It’s usually when your REALTOR® or lawyer hands you the keys.
• Title. This is a legal document that identifies the property and its owner.
• Closing costs. These are expenses, excluding the selling cost of the property, that are due on closing day, such as…

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CALGARY MARKET UPDATE (Based on 30 Days) - May.1st 2015

Active: 5730
Sold: 2000
Average List Price: $480,986
Average Sale Price: $467,903
Average Days on Market: 40 Days
Sellers are getting 97% of asking price, 35% of homes on the market today are expected to sell within the next 30 days. The absorption rate is at 2.87% meaning we are in a balanced market.

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