Real Estate Glossary

A

Amortization: The number of years it will take to pay back your mortgage loan.

Anniversary: Most lenders allow borrowers to make payments against the principal on the anniversary of the mortgage.

Appraisal: The act of estimating the market value of a property.

Appreciation: The increase in value in a home from when the home was first purchased.

Approved Lender: A lending institution, authorized by the Government of Canada, to make loans under the terms of the National Housing Act. Only Approved Lenders can negotiate mortgages that require mortgage insurance.

Assumption Agreement: A legal document signed by the homebuyer that requires the buyer to assume responsibility for the obligations of a mortgage by the builder or the previous owner.
Source: HGTV.ca
Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.

Move, or Fix Up the Kitchen

Many kitchens, especially those in older homes, don't work well with today's busy lifestyles. Major kitchen renovation aside, there's a lot you can do to make your kitchen more comfortable and functional; and there's no need to throw in the dishtowel and go house hunting, call a professional renovator, or blow all your savings.

So what can one do? Take on smaller projects. To update or upgrade your kitchen, it's not necessary do full makeover all at once. Take it in stages. Make one change at a time. You'll be amazed at how fresh and new the room feels at each step!

The first thing you should do is examine your kitchen with a clinical eye to determine the problem areas. Then have a look below for our solutions.

No Storage

The lack of adequate storage equals overcrowding. This makes it difficult to find supplies for cooking, and to tidy up afterward.

What you can do:

· Get rid of (or move to another storage space) everything you don't use regularly, including spices, canned goods, cereals, and snack foods.

· Keep one set of dishes. Dispose of chipped and mismatched crockery. Get rid of your collection of coffee mugs that have seen better days. Keep only what you have room to store.

· Shop more regularly and don't buy extras other than the staples.

· Build in more storage by adding stock cabinetry or open shelving for frequently-used items.

· An open Shaker-style dish rack is perfect over the sink and will free up some space.

No Surfaces

Limited counter space is a definite problem for anyone who cooks.

What you can do:

· Add a small, wheeled island to your kitchen.

· Buy a freestanding preparation or serving cart. This source of extra space can be tucked into a corner when not in use.

· Clear what do you have off the counter.

· Build half shelves under the kitchen table or eating counter to hold the toaster, mixer, or other appliances.

Unattractive Cabinets

Since cabinetry takes up most of the wall space, outdated cabinets or those in poor repair can leave the kitchen feeling depressed.

What you can do:

· If your budget allows, replace the cabinets new stock or custom-made cabinetry designed to make the most use of space.

· Renew drab, existing cabinets with a fresh coat of paint.

· Change the style by adding trim detail to flat-faced doors.

· Insert glass or metal panels.

· Combine open and closed storage ideas to maximize eye appeal.

· Change the cabinet hardware for a new look.

Flooring Woes

Any surface, especially a floor, that is worn out or stained will ruin the overall effect of a room. Your kitchen floor should be durable, slip-resistant, and easy to clean.

What you can do:

· With damaged floors, replacement is the best option. Check out the variety of flooring available. Options include:

· Vinyl - The least expensive. Its quality increases with thickness. Choose a colour or pattern that suits.

· Linoleum - Soft and warm. Extremely durable and hygienic. Modern colour options have brought it back in vogue.

· Prefinished wood or laminate floors - Easy to install. Durable. You can design your own look by combining two colours to make border detail.

· Cork floors - Naturally beautiful and comfortable.

· Tile and stone - Both stylish and hardwearing, but the unforgiving surface is hard on feet.

Lack of Focus

Is your kitchen fading into the woodwork? Without a focal point, any kitchen will look like it has a case of the blahs.

What you can do:

· Make the backsplash the kitchen's focal point by putting up some new tiles or painting it a cheery colour.

· Paint your dated laminate cabinets or countertops with Melamine paint.

· Paint an exuberant colour on the walls.

You'll never go wrong investing in your kitchen space. It will improve your daily outlook and, if you do decide to sell, it will make the house that much more appealing to buyers.
By Barb Dingle, co-author of Debbie Travis' books

Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.

Top Ten Ways to Tell It's Time to Make a Move

Does the thought of changing your neighbourhood go through your mind more often than not? Here are some key indicators on when you really should consider making that move.

1. You Have Outgrown Your Neighbourhood

Your über-trendy, urban borough seemed just the thing five years ago. But suddenly, you are annoyed by the loud music spilling out of bars, clubs, and your neighbour's stereo. You long to go window-shopping and not face alarmingly skimpy outfits you would never wear. It is time to face facts: you are growing up, but your neighbourhood is not. Instead of wasting time judging your neighbours, consider a quieter or more sophisticated locale.

2. You Constantly Scan the Classified Ads

You have never been in a good position to sell your home, but have often dreamed of moving. A larger home. A smaller home. A country home. A city home. Lately, you find yourself scanning the classifieds, picking up home magazines, and even writing down phone numbers and website addresses. Speak with a professional and determine where you stand. It's probably time to make your dream home a priority.

3. You Are Starting a Family

Selling a home and moving is a big job, and starting a family an even bigger one. You do not want to be stuck doing both at the same time. If you are thinking seriously about having a child, it is also time to start thinking seriously about buying a family friendly home. There is nothing worse than packing and moving while pregnant, or worse, with a toddler underfoot.

4. Your Family Has Grown

Are your kids sharing a bedroom? Is your yard too small for a swing set? Do you often think wistfully of backward barbecues by the pool? Then the time has come to consider buying a home that will grow with your family. If you live in a city, it may be necessary to consider moving to the outskirts, where property is less dear.

5. You Have Made A Job Change

You have changed jobs and the commute is killing you. Although you are happy with your home, you are not happy with the extra hour you must travel to work each day. The reality is that the stress of a daily commute can subtract years from your life. If you want to have more time to spend patting yourself on the back for corporate successes, move closer to the office.

6. Home Renovation Is Not Enough

You are constantly working on a home improvement project, but are never satisfied. Perhaps you are simply a home-Reno junkie. Or perhaps, this endless fussing and fixing is a sign that your home just isn't doing it for you anymore.

7. Your Neighbourhood Is Going to the Dogs

Crime is on the rise, you feel nervous when the children are at school, and barely feel comfortable walking to the corner store. Do not waste time waiting for the situation to improve. Sell before your property value goes down in tandem with the quality of your neighbourhood.

8. Space Is An Issue

Moving into a one bedroom with your partner seemed like a good idea at the time, but you simply do not have enough room for all your stuff. There are plenty of good reasons to upgrade to a two bedroom. Consider moving up and out.

9. Properties In Your Neighbourhood Are Selling High

Your neighbour stopped by last week and mentioned the Joneses sold their home on the corner for a handsome price. Your curiosity is piqued. Do some research - a home is an investment, and if you can reap some financial rewards, go for it.

10. Your Home Is Too Big For You

The kids have moved out, and a big house is no longer necessary. It may be difficult to let go of the family home, with all the fond memories it holds. But downgrading to a smaller home will make it easier as you grow older, and will also free up some money to make those retirement travel or cottage dreams come true.
Source: HGTV.ca

Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.

Update Items at Eye Level

When a dull stair runner, dated backsplash or boring wall colour is replaced or enhanced, it offers immediate gratification. A fresh coat of paint offers huge impact at minimal cost.

Add elegance by accentuating walls with tall baseboards and crown moulding made of MDF, which looks like wood but costs less. (Or, simply add one-inch diameter half-round trim above your existing baseboards, eight inches from the floor. Paint the entire new "baseboard" the same colour, using paintable caulking first, to fill in gaps, if necessary.)
Copyright 2006 Kamloops This Week

Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.

Don't ignore curb appeal.

To catch buyers’ attention, make sure the exterior is clean and in good shape. Landscaping and lawn care go a long way in home presentation -- as can most exterior repairs and upgrades (new paint, siding, fencing or lighting).
Source:HGTV.com
Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.

Landmark Realty Volleyball Party

Today, Claire and I went to a Landmark Realty volleyball party at Jim Rempel's, one of the partner's, house. It was fun playing volleyball and meeting the partner's of the company. A big surprise that happened was the beautiful rainbow that God gave us during the party. Due to the rain only 12 people showed up but nevertheless we had soooo much fun. Thank you Jim for hosting the party!

Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.

Establish Your Criteria When Looking For A House

Before you start house hunting, decide on what you really need. Then list the features that would be nice to have. Once you have a clear idea of what you need as well as what you would like in a house, finding that house will be much easier.

Be realistic. Looking for a home takes time, so focus on what's important to you. After looking at lots of homes, the line between "I need a garage" and "I want a garage" can get very blurry.

Many people focus more on what they'd like to have instead of focusing on what they actually need - that can mean they pass up a home that meets their needs in hopes of finding one that meets their wants.

Ultimately, you should be able to find a home that is a blend of your needs and wants.

To help keep your priorities in order, make a wish list and a must-have list, and take them with you whenever you look at a house. Share them with your real estate agent as well; he or she can search for homes based on your list.
Source: FreddieMac
Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.

Here are some good house hunting tips

• Take pictures inside and outside the home.
• Bring a spouse, family member, or friend.
• Make sure the house fits into your budget.
• Ask about utility and maintenance costs.
• Think of commuting time and costs.
• Compare what you'd like to have against what you really need.
• Consider your monthly budget - can you afford the renovations and maintenance that you'll need to do?
• Compare what you'd like to have against what you really need.
• Don't make a "spur-of-the-moment" decision.

Source:Freddiemac

Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.

Please pray for HEALING for my co-worker's cousin who was attacked by a BEAR!

Today, while my wife & I were walking through the mall, we came across one of my co-workers from Landmark Realty. She told us that her cousin in Calgary was severely attacked by a hungry bear while mountain biking. He is now in the hospital in critical condition. The very least my wife & I could do for her was pray that God would heal her cousin. Please pray for him as well.

NEWS ARTICLE- CALGARY HERALD
Mountain bikers save man from bear attack

Sherri Zickefoose and Craig Douce, CanWest News Service
Published: Sunday, May 14, 2006


CALGARY--Cries for help alerted friends to a mauled mountain biker being dragged into the trees and guarded by a black bear in Banff, Alta.

The 41-year-old man was riding alone on a trail on the outskirts of town Friday evening when he was attacked.

"This potentially was a predatory attack," said Ian Syme, Banff National Park's chief park warden. "There are indications there was a struggle for some time," he said, adding the prolonged attack was unusual. After most surprise encounters, bears will leave the area.

"He's very lucky he was found when he was."

The bear slashed and bit the man, and dragged him about 50 metres off the trail into the trees.

Mountain bikers Robert Earl and Robin Borstmayer came across the man's bicycle --and broken blue helmet -- lying across the path just after 8 p.m.

It was a bike Earl instantly recognized -- it belonged to his colleague in the town office.

But the attack victim was nowhere to be seen, until he cried out. "It was a cry for help from the woods: 'Help, help me,"' said Earl, who is Banff's town manager.

The man yelled out a warning that the bear was still nearby. Borstmayer rode to a nearby campground to get help and Earl stayed behind to protect his injured friend, who was in shock.

"The bear would disappear over a rise perhaps 50 yards away. We would lose sight for five minutes or so, and then the bear would reappear," he said.

A warden shot and killed the young bear after it continued lingering at the scene despite the growing number of people in the area.

The young male bear, believed about 150 pounds, was thin. "We're very confident this was the bear involved. He was not in very good shape," said Syme.

A necropsy was performed on the bear Saturday to help wardens learn about its health and if it was diseased.

"I don't think there's any question if we hadn't shown up it would be a different story," said Borstmayer, who added the bear encounter is his first.

"I'm glad that I was on that trail last night. And I'm glad I could help a friend in need," said Earl. "He's a valued town employee and certainly my thoughts and prayers are with him and his family."

The man suffered chest and arm injuries and was flown to hospital in Calgary.

After surgery Saturday, he was listed in stable condition.

Wardens estimate there are about 10 grizzlies near town. Five to seven black bears are also in the area. With deep snow in the backcountry, bears are lured to the lower valleys in search of food.

Grizzly bears roaming an area where a woman was killed last summer caused conservation officers to close a number of Canmore, Alta., backcountry areas and trails earlier this month.

Isabelle Dube, 36, of Canmore was killed by a grizzly bear last June. Dube, a Quebec native, had been cross-country running in the area with two other women at the time of the attack.

Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.

What is a Mortgage?

A mortgage represents a loan or lien on a property/house that has to be paid over a specified period of time. Think of it as your personal guarantee that you'll repay the money you've borrowed to buy your home. Mortgages come in many different shapes and sizes, each with its own advantages and disadvantages. Make sure you select the mortgage that is right for you, your future plans, and your financial picture.
What is an amortization schedule?

The month-by-month allocation of your monthly payment to the loan's interest and principal is called an amortization schedule. With most loans you pay off the interest on the loan before you pay off the principal (or the actual amount you borrowed). Your lender will provide an amortization schedule to show you how the percentage of your principal paid off increases with every payment, while the percentage of interest decreases.

Choosing the right mortgage.

Once you decide on the mortgage you want, do your homework. Different lenders offer different rates, points, and fees. Ask around and compare.

Understanding the benefits of different mortgage offerings can be a complex process.

Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.

Hiring an Interior Designer Made Easy

Maybe you still haven’t managed to decorate. Maybe you have all those wonderful ideas for your home in the back of your mind but are hesitant to share them. Maybe you need someone to help you get organized, someone to focus your ideas, someone to tell you how much it’s all going to cost. It's time you talked to an interior designer.

But wait, you say. Isn’t that going to be expensive? What if they gain control of the design? What if you end up with something you don't like? Definitely not. Interior designers are professionals. They are there to offer you, the client, a service. Many offer first consultations free of charge. So when you make that phone call and set up that meeting, you are not setting yourself up for any risk, whatsoever. Using a good interior designer can actually give your home function, beauty and a fresh new perspective you never imagined.

1. Be calculative
Start with the budget. It's ideally the amount that you are happy to spend to achieve the result that you desire. It is your responsibility as the client to have a clear idea about your budget before you start looking for your designer. Remember, permanent, added-value home improvements designed and supervised by a professional come with a price tag. You are paying for the designer’s design expertise; ability to source from trade-only suppliers of furniture, fabrics and accessories; and the time they save you from having to organize and supervise builders, painters, joiners, plumbers, etc.

2. Be communicative
By talking to you and looking at your existing environment, a good designer can diagnose your taste and pinpoint your favourite style. Take them around, show them the room or rooms you want decorated, and if you have any photos of styles you like or dislike, show them to the designer. They should ask you about your hobbies, your family, your colour preferences, your pets, whether you entertain at home, whether you frequently have overnight guests. By learning about you and analyzing your requirements, the designer is putting together the first building blocks of the eventual design.

At the second meeting, the designer should have a package of ideas to show you. This may be presented in any number of ways; a sample board of fabrics and pictures of furniture is one option, sketches and swatches of fabric to discuss is another.

3. Be clear
Allocate percentages to your project. That way, you are better able to see what you can afford, and are willing, to spend on each area of the redecoration. If you want to have an elaborate curtain treatment, you may have to reduce your budget for the floor covering, or vice versa. This method also helps you to prioritize your decoration requirements. By being honest with your interior designer about your design priorities and your budget, you are more likely to receive an interior design and service that will delight you.

4. Be specific
Check that the interior designer you choose has a defined fee structure and make sure you get this in writing. Ensure that the designer knows your decoration budget and be clear about whether the design fees are included in this budget, or are paid on top. Give the designer the budget breakdown and as much specific information as possible about your expectations within that budget - if you’re expecting to get that antique reclaimed parquet floor above all else, then make this clear. If your desired object isn’t within the scope of your defined budget, the designer can get back to you early on in the project to juggle the budget allocations.

The interior designer will welcome clear information on your budget because it is a real time saver for both of you. If the budget extends only to slipcovers for existing furniture, let the designer know this before they set off to pound the pavement in a search for brand new furniture. (Remember, you’re probably paying for their sourcing time!)

5. Be Open
Open up your mind to new possibilities. Interior designers have the training and resources to explore design options. They can often help you see a room in a whole new light, just by the addition of some built-in furniture, a new colour scheme, a different curtain design, or by re-arranging the furniture. A designer is adept at combining elements in total harmony with each other while staying within the guidelines of your requirement.

A good designer will nudge you further along pathways upon which you may have already placed a tentative step. But a good designer will never impose their taste on your environment. Designers are there to work for you and to help you to achieve your design goal. If you’re not happy with something, say so. Always remember, you are in control.

Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.

The Condo Craze

The young are doing it. The old are doing it. Everyone's doing it! From Vancouver's beautiful coastline to Montreal's chic concrete-covered streets, condos are all the craze. While a portion of the population still view condominium units as small boxes stacked one above another, all types of people are moving into and buying condominiums. The fastest growing area of home development in Vancouver and Whistler is in condominium development. Across the country, thousands of miles away, Toronto currently absorbs close to 1000 new condo units per month. With statistics like these, the condo craze has definitely made itself at home in Canada.

Why are so many people opting to purchase condos instead of houses? Toronto condo owner Vanessa Rementilla has the answer. "For both young and old, condos offer the convenience of having everything in reach," Rementilla says. "As well, condos boast the ease of not having to maintain what you would if living in a house...worrying about cleaning the roof, shoveling the driveway, taking the garbage out."Rementilla is right, condominiums offer residents a lot of comfort for little maintenance. If purchasing a home, most would never be able to afford all the amenities that condos offer. Some of these amenities include pools, gym facilities, 24 hour security, and underground parking. "It's great, I don't have to remember which day the recycling has to go out, because the building does it for me," she exclaims.

Of course, buyers must remember that condos do have monthly maintenance fees for the services and general upkeep. For those who don't have the time or interest in doing certain chores themselves, the fee is worth it.

Young urban professionals tend to buy condos for other reasons too. Low interest rates encourage them to buy, as do first-time home buyer incentives. Being within an urban center is very important to younger home buyers — they want to be close to the city's bars, theaters, public transportation system, shopping areas, etc.

Older buyers also care about being close to all the conveniences that a city has to offer."People that are down-sizing, the empty-nesters, tend to have more time and money on their hands to enjoy the city they live in," Rementilla says. Very true. With their kids grown up and gone, older couples can take advantage of condo location to experience the city. In my loft building, almost half of the residents are retired. They love living in the hustle and bustle of the city, where they can walk to a museum, sit in a nearby park and go shopping.

Whether young or old, working or retired, single or married, condos are extremely popular in Canada — there are no signs of this trend fading. The condo craze is here to stay!
Source: HGTV.ca

Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.

My New Ad!

Today my marketing manager created a 1/4 newspaper ad for the Abbotsford Real Estate Weekly newspaper.

Input is very welcome. Let me know if you like it or not.

Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.

Maximizing Your Home's Resale Value

Because our homes aren't just where we live—they're also a significant investment—resale is our opportunity to realize the highest return possible out of our investment. There are a few things you can do to make sure your home shows well and sells quickly—at the highest possible price.

Making the Most of Your Space

How furniture is laid out in a room can have a big impact on how big (or small) the room looks. Your lifestyle may really suit the two love seats, couch and chair you've got crammed into the family room, or the table, with both leaves in it, that seats eight in the kitchen. The big toy box and all the shoes in the hallway may be necessary facts of life for you. Your home office, with its overflowing bookshelves and file cabinet, well... that's just the way you work. But these things can really add up to making a good-sized space seem smaller, and less desirable to a buyer for the price you're asking.

Consider making small changes while your home is being shown. Would your family room look larger with two love seats facing each other? Would the kitchen feel more open with a table for just four? Would the office be more accessible with the books behind doors and the file cabinet tucked under the desk? Would the hallway seem more welcoming if the toy box was in a closet, and the shoes were on a rack? By removing, downsizing and rearranging items you can ensure prospective buyers have a clear path to move through your space, adding to its feeling of spaciousness, and increasing the value for them.

The Art of Un-decor

Your place is probably decorated perfectly to suit your tastes. You love it—but it's entirely possible that only you could love it. Which could really limit the number of new purchasers that are going to love it and want to buy it.

Taste is a very personal thing, and if your style leans towards very bold, wild or dark colours, or having every room be very different from the last, most new purchasers will only see your home from the point of view of how much work and expense it will take them to reverse all your decorating decisions.

Keep walls and window coverings neutral, and try to create a colour flow from room to room. Neutral is what shows best and sells best, something real estate agents have proven time and time again.

If you've already got a neutral pallet, make sure it's fresh and up to date. Sometimes just washing walls in high traffic areas helps; other times a single coat of paint to touch up is required. A fresh coat of paint on baseboards and ceilings can really open up and light up a room, making it seem clean and new and well cared for.

Whatever you can do to create the space so that buyers feel like they can move right in is what will have buyers wanting to buy it.

Could I Live Here?

De-clutter is this year (and last's) most popular word, and it's an absolute must for getting your home ready to list. The added bonus is that you will have a lighter load to take to your new space.

If you really love all your stuff, can't bear to part with it and know it has a place in your new location, by all means, hang on to it. But clear as much of it as possible out of your home before you list.

Make use of your attic, crawl space, storage locker, or a neighbour's extra room; and if those aren't options - rent a storage space for the interim. If you know you really need to edit out things, and have trouble doing so, enlist the help of a friend, or hire a professional organizer to reduce your clutter.

A professional will not only be able to recycle your unwanted items with companies eager for donations, some may even have sources who will pay for larger items, and they get the job done, fast. The goal is to leave room so prospective purchasers can see where all their things would fit in.

Clean and Clear

Nothing sells a home like clean, and nothing devalues it faster than dirty. Make sure your place sparkles.

Great views are often spoiled by dirty windows. Kitchens and bathrooms both look better when the sinks and work surfaces are empty and clean. So even though your routine may demand that all your products and tools are on the counters, they need to be tucked away while your place is being shown. Bedrooms are much more inviting when beds are made, and clothes are hung up or in the hamper. Newspapers, books, magazines, toys, and stacks of mail take up a lot of visual space in living areas, and can make these areas look messy, even when they are clean.

A professional cleaning service can get into every nook and cranny and ensure that buyers see your home in its best possible light. Once it's clean, make sure every room does get seen in its best possible light by ensuring all light fixtures have all their bulbs. Dim rooms not only look smaller, but can create feelings of unease for a lot of people—making them want to leave fast and never come back!

Setting the Stage

So you followed all the suggestions, and now your home looks so good you're starting to wonder why you're selling it. After all, it seems pretty nice, you put out some fresh flowers, the rooms are a lot larger than they used to be, hmm.... But make sure you do leave, at least while agents are showing it. Go for a walk, to a movie, or for a coffee—the most effective way to sell your home is to not be in it!
Source: Molly Bennett

Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.

Kitchen and Bath Quick Fixes:Trouble Shooting

These tips will ensure that your quick fix will look good and last:


· When replacing hardware, take a measurement with you to the store to ensure the new handles will fit into the old screw holes. This will save you time and effort filling and sanding the previously drilled holes.

· The original paint in an older kitchen or bathroom is most likely oil-based. Clean and prepare the walls or cabinets, and use an oil-based primer. Then you can use the more environmentally friendly water-based paints to finish your project.

· Be sure surfaces are clean and dry before painting.

· Use a high-adhesion primer for slippery surfaces such as laminates.

· Water-based paint and varnish dries to the touch quickly. But allow your fresh finish to cure (dry through and harden) for at least 48 hours before using it.

· Always work in a well-ventilated area, especially when using melamine or oil-based paint or varnish.
· Don't paint a stove, sink, bathtub, toilet or tile floor. You can paint a refrigerator, or cover it with self-stick paper.
Source: Barbara Dingle

Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.

Location, Location, Location

Where's the best place to live? It depends on what's important to you. Location is of paramount concern for most people when choosing a new home. That's why it's crucial to have accurate facts and specifics about new communities so you can make an informed decision. Fortunately, there are several valuable sources you can use to gather information about the places you're considering. The internet is an excellent starting place to research possible new homes.

Where you choose to live is a highly subjective decision, based on many individual variables. So, what important factors should you take into consideration before you decide to pack all your worldly belongings and head for your new home? Here are some important elements to consider as you begin your search.

Schooling
Having vital information about local schools in your new community is a primary concern among parents. Again, the Internet has a wealth of resources to find out detailed information about the various schools in the areas you are considering.

Crime-rate
Feeling safe and secure in your new home is a primary consideration when choosing where to live.

Health care access
Quick access to quality health care and corresponding coverage areas are top-of-mind concerns when deciding on a home. You'll want to know beforehand how close your new home is to the nearest hospital or urgent care facility, especially if a member of your family has an existing chronic medical condition. Web sites for your specific health insurance carrier provide a comprehensive, up-to-date source for this information.

Cost of living factors
You've been offered a 30 percent raise in your new job in a city 500 miles away. That's great news--or is it? Before you decide to upgrade your kitchen to get a better selling price and break out the packing boxes, it's a good idea to see just how far your increased salary will go in that new location. Fortunately, the internet is an excellent resource to instantly compare cost of living between cities.

Homeownership rates
High homeownership rates point to a population that has a vested interest in maintaining the living standards of an area.

College-educated residents
The number of college-educated residents is indicative that the residents value the importance of higher education. This translates into educated parents who are inclined to be active participants in promoting good local schooling.

The weather
Weather patterns are an important consideration, since they can profoundly affect your physical and mental health. Look up climate averages at popular weather websites.

Forewarned is forearmed
Deciding where to live requires in-depth, up-to-date information which can help you analyze a variety of quality of life issues. While different sources may produce different results, it's a good idea to check them all out and get a comprehensive overview of what's considered to be a 'Best place to live'. Make sure you use all of the resources you have at your disposal. Knowledge is power.
Source: HGTV.ca

Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.

Moving Checklist: What to do and when to do it

Moving into a new home is an exciting time but it can also be stressful. Don’t despair. Whether you’re doing it yourself, asking friends for a little help or hiring professionals, here is your moving guide to help get you through it.

As soon as possible:

Start early. Investigate and research moving companies and/or trunk rental companies.

Hire a moving company or if you are doing it yourself, reserve a moving truck. Be sure to get written confirmation of all your costs and details of your move for your records.



Tip: Weekends and holiday long weekends are busy times for movers and trunk rental companies. Book far in advance (at least 2 to 3 months) to ensure you get the moving company or truck rental you want for the day you need to move.

2 months before moving day:

No sense moving what you don’t want to keep. Go through your home and determine what you want to keep and what you want to throw out or donate



Tip: If moving in spring or summer, earn some extra cash and hold a moving sale to help rid items you don’t need or want for you new space.

Make a list of items in your home that need extra attention while moving or special packing instructions (i.e. computers, televisions, fine china, etc.)

If you have children and you are moving to a new school district, start arranging the school transferring process.

Order boxes and moving supplies (packing tape, bubble wrap, tissue paper, stock up on newspaper, etc.) required for your move.

1 month before moving day:

Time to start packing! To make it easier, begin with the items in your home you do not use regularly. Be sure to clearly label or number your boxes to make the unpacking easier.

As you pack, make note of items of significant value (i.e. stereo systems, flat screen televisions). Depending on your insurance agreement with your moving company, you will need to declare items of value in case items are lost or damaged.

At your local postal office, fill out a change of address form with your new address.

Tip: For convenience Canada Post now offers this service online at www.smartmoves.ca.

Inform the following companies and institutions about your new address:

* Bank(s)
* Cable and phone provider(s)
* Insurance company(s)
* Hydro and utility company(s)
* Credit card company(s)
* Doctor and dentist office(s)

Tip: Many companies now offer the convenience of changing address information online.

If you are moving out of an apartment building, arrange for use of the elevator.

2 weeks before moving day:

Confirm your reservations with your movers or trunk rental company.

If required, cancel or transfer your newspaper delivery service.

1 week before moving day:

Most of your packing should be done one week prior to moving day.

Set aside the items of importance you wish to transport to your new home yourself (i.e. jewellery and passports).

A few days before moving day:

Re-confirm arrival time of your moving truck. If moving yourself, re-confirm your reservations with the trunk rental company.

Prepare a detailed map and directions for your movers including a cell phone number you can be reached at on moving day.

Pack a travel bag with the items your family may need on moving day such as tooth brushes, change of clothing, medications, hair bushes, soap, toilet paper, paper plates and cups, aspirin, etc.

If you are moving yourself, start dismantling beds and other large furniture.

Moving day:

Make a note of all utility meter readings (new and old home).

It’s important to be present when the truck is being loaded and unloaded just in case your movers have questions.

Before the movers leave, check your belongings and note on the inventory paperwork any damaged items.
Source: HGTV.ca

Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.

10 Ways To Make Your Home More Salable

There's little doubt that the real estate marketplace is now in transition. Sale volume has begun to weaken and in many markets the days of quick sales and multiple offers are going or gone.

"The cooling from overheated sales conditions in recent months is helping to bring inventory levels up to the point where buyers have more choices than they've seen in the last five years," says David Lereah, NAR's chief economist. "Annual price appreciation is still running at double-digit rates, but the cause of those sharp increases is going away. As the market readjusts, price appreciation should return to more normal rates of growth this year."

Translation: Homes are not selling as quickly as before -- that's good news for buyers. Sharp increases in value are moderating -- that's also good for buyers. Values are not falling -- that's great news for sellers.

Meanwhile, the National Association of Home Builders says that permits for new construction for February fell by 3 percent when compared with a year earlier.

Neither the existing nor new home unit declines should trouble anyone. These changes follow record year after record year, a pace that's not sustainable. The good news is that the changes are modest rather than manic.

The catch is that a softer marketplace means sellers will have to fight harder to get top prices and quick sales. Here are 10 ways to get more out of your local marketplace.

1. Go for the junk -- and get rid of it. A house with less stuff looks bigger and roomier. If what you want to throw out can have value to others, see if you can help by donating goods to local charities.

2. Price within reason. Trying to sell a home for $700,000 when like homes go for $525,000 is a non-starter. The days of "testing" the market with huge price increases is finished in many areas. Overprice and you won't be competitive.

3. Use the best local broker you can find. Experience, connections and reputation can be a real edge when marketing a property.

4. Require your broker to have a marketing plan that makes sense for you and your property. The technique that sells one property may not be appropriate for another, so find the approach that's right for you.

5. If the home doesn't sell within a reasonable time period, think about changing the deal rather than lowering the price. In other words, rather than cutting the price from $500,000 to $480,000, instead keep the $500,000 price and offer a 2 percent "seller contribution" to help a buyer pay for closing costs. This approach is cheaper ($10,000 in closing cost help rather than a $20,000 price reduction) plus it gets to the real need of many buyers, closing assistance.

6. Have a home equity line of credit in place -- even if you don't expect to sell for several years. This way you can have funds available if you want to buy a replacement home while the current property is being sold. Just be aware of the risk -- if your current home does not sell in a reasonable period you could face lots of mortgage payments.

7. Make sure everything works -- and nothing leaks. Expect buyers to ask for a home inspection and be prepared to make reasonable repairs if requested. Remember that it may be better to upgrade an electrical service box than to look for a new buyer.

8. Find out what buyers thought after a showing or open house. Don't take negative comments personally. Look for ideas that can help you make a better impression with the next prospect.

9. Beware of buyers who want you to take back financing. At a time when loans with little or nothing down are available from every lender, don't go into the banking business and take back a loan when there is less risk to you with an outright sale.

10. Don't get upset with small inconveniences. If a prospect wants to see a home with little notice or at an odd hour, don't worry about it. It's better to show the property than to have a home which is both undisturbed and unsold.
by Peter G. Miller

Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.

How to Find a Real Estate Agent

Whether you’re looking to buy or sell your home, a good real estate agent is essential – and can be hard to find. Here are the top 10 things to look for in a potential agent.

1. Tell me about yourself. This open-ended question opens the floor to bragging rights. What you want to hear: how long the agent’s been practicing, his best sale, how he refers to past clients, a sense of professionalism and the ability to be honest with you. Once the agent’s done boasting, ask him to send you information about his business. You’ll see how quickly he responds to your request and how professional the brochure is (which will give you an idea what your sell sheet will look like if you’re selling your home).

2. Selling skills. How many homes has the agent listed and sold in the last six months? This question will tell you where the agent’s strength lies – in helping clients buy or sell homes – and his rate of success.

3. Home sense. Does the agent excel in helping clients buy or sell homes? Do they know the starter-condo market or the 18th century, multi-million-dollar estate market? What type of homes did he last buy or sell?

4. Location, location, location. What area of the city is the agent most familiar with? You want an agent who knows the neighbourhood you’re looking to buy or sell in.

5. Organizations & affiliations. There are more than a dozen organizations and qualifications a Canadian real estate agent can hold. Find out how many your agent belongs to (since they can be a great source of networking, they can also be an indicator of the number of people your agent knows. More acquaintances can translate into a bigger turnout at your open house).

6. References. Ask for three references. This will give you key information: how quickly the agent offers up three sources, how long ago these people were clients, what type of home they were buying/selling and what their experiences were like with the agent.

7. Working hard or hardly working? Does the agent practice full-time or on the side of another job? Will he be available to show your home to potential buyers or show you homes when it’s convenient for you – or will you have to rearrange your schedule for him?

8. Competition. Find out who the agent sees as his main competition. What sets him apart? You’ll learn not only other agents to contact for comparison, but how each agent responds to this question – positively or negatively and whether the other agents are selling/showing homes in the area you’re interested in.

9. What’s the plan? Whether you’re buying or selling, your agent-to-be should have a plan (open house, public or private open house, appointments, number of viewings a day). Whether you want to look at a new home every time one is available, or save up 6 for a Saturday morning, your agent and you should be on the same planning page. If you’re not, tell him what you want or look for a different agent.

10. Money matters. How does the agent respond to your budget requirements or desired price for the home you’re selling? A good agent will understand your needs, offer his advice (he should know whether your expectations are realistic) and then support you (not telling you to say yes to the first offer if you’re not happy with it). Be wary of an agent who looks too eager to make a quick sale. A good agent will want to build a solid relationship with you, so that you call him when you want to buy or sell your next home.
Source: HGTV.ca

Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.

Hardwood and Almost Hardwood

Hardwood: Nothing beats a beautifully restored, antique hardwood floor for a traditional, elegant look. Hardwood is tremendously versatile in its decorative ability. It can look ancient and sophisticated or super-modern and cool. It all depends on two things, the type of wood and the finish. You can have a pine floor, stained to look dark and daring, or a high glossed new maple floor that will look fresh and warm at the same time. Even an old country home with bare old barn-board flooring can be refinished to look stylish and chic. The possibilities are almost limitless, if you have the resources.

One of the deterrents to putting hardwood throughout your home is the cost. Laying hardwood is a rare skill and you can expect to pay a great deal to have somebody come in and do it, not to mention the price of the material itself. On the other hand, many older homes already have beautiful hardwood floors hidden just below a wall-to-wall carpet, or one that is exposed but is looking worse-for wear. As long as your hardwood is not completely worn down to the exposed wood, you should be able to refurbish it yourself. It's a great project for the do-it-yourselfer.

If you can't afford to put in or redo hardwood floors, or if you want the look but need a surface that is slightly more durable, there are several other options that are almost hardwood, but may be a bit more practical and a lot more affordable. Here are a few:

Pergo: I'm a huge Pergo fan - it is the type of flooring that I currently have in my own home. This Swedish company makes laminate floors that look like hardwood (from a distance) but are affordable and extremely durable. Perfect for any room in your house, be it living, dining, kitchen or bathroom! You can wipe them clean easily, they are not damaged by water and they will stand up to the test of children and pets. They are even easily installed. Available in a multitude of colours and textures there is a Pergo floor perfect for any living space. Check out the super cool Pergo website for more info. You can even pick and choose colours and see how they will work with your own décor!

Hardboard is an inexpensive type of flooring, however, may not be the most durable, particularly in room where it is likely to get wet. Made from softwood pulp, it is a form of sheet board that can be laid directly over a sub floor. Use it on it's own, or as a surface below another type of flooring, such as carpet.

Chipboard is slightly more durable and thicker than hardboard and can have an attractive, warm look for a rather reasonable price. It's easily laid and comes in large sheets, but you have to be sure to seal it promptly as it will not survive spills or messes and will become badly stained.
Source: HGTV.ca

Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.

Ten Tips to Consider Before Buying a Home

You are about to invest in your most valuable asset. Many home buying steps are standard yet there might be slight variations depending on the real estate laws and regulations where you live. Here are our top ten recommendations to make you more confident as you embark on your home buying journey.

1. YOUR CREDIT RATING
Getting your finances in order is probably the most important step you should take. Your credit reports are an ongoing look at how you manage your finances. You must know exactly what your credit reports say about your financial history before you apply for a mortgage, because the reports play an important role in the mortgage approval process and in determining the interest rate and other loan terms that a lender offers you.

2. UNDERSTANDING HOW MORTGAGE WORKS
Get familiar with the mortgage laws, structure and options. That way, you will be able to decide on the right loan and lender - crucial to your home buying success. It's up to you to determine which lender is best for your needs, and it's always a good idea to have at least a bit of background about the loan process before you talk to a lender.

3. GETTING A MORTGAGE PRE-APPROVAL
Do you know how much house you can afford? Probably not, unless you've talked with a lender. Pre-approval helps you in other ways. Consider this scenario. A home seller gets two similar offers. One is accompanied by a letter from the buyer's bank that states she is pre-approved for a mortgage in the amount of the offer. The other has no supporting documents. Which offer do you think the seller will consider first?

4. SORTING OUR YOUR NEEDS AND YOUR WANTS
Buying a home isn't as difficult as you might think, even if you're short on funds. But the process will go a lot smoother if you get familiar with your real estate market and narrow down your wants and needs before you start looking at houses.

5. PREPARING TO WORK WITH REAL ESTATE AGENTS
Real estate agents represent buyers, sellers, or both for they can work as neutral facilitators for either party. It's essential to understand agent duties and loyalties before you make that first phone call.

6. THE GREAT HOME SEARCH
The Internet is a great tool - you can spend endless hours searching public version of Multiple Listing Service websites. Besides, your agent too will give you multiple listing sheets to study. You can also pick up House For Sale magazines and read classified ads in your local newspapers. You might even plan afternoon drives to preview neighbourhoods. These are all excellent ways to see what's available out there.

7. PRE-OFFER INVESTIGATION
Deciding whether or not you want to buy a house involves a look at its structure and its features, but there are many other topics that are every bit as important to your purchase. Appoint a professional to conduct the home inspection. Study what kind of house is it - site built, modular or manufactured. Consider its market value and resale potential. Do others have a right to use the property? Can you live with the deed restrictions? Is the reported square footage accurate? Is the heating system efficient? And so on.

8. MAKING THE OFFER
There's no one set of instructions that can cover all the differences in real estate laws and customs that exist throughout, so the mechanics of making an offer and its specific contingencies depend greatly on your location. That's why you should sit with your agent, attorney or advisor to fine-tune your offer and take care of all the contractual considerations.

9. AVOIDING LAST MINUTE CHANGES
As your closing date nears, everyone involved in your real estate transaction should check its progress on a daily basis, because staying on top of things means you'll know immediately if there's a problem that must be dealt with. Here's a bit of information that focuses on a few common problems that home buyers must deal with before they close on a house.

10. BEFORE CLOSING
Most of your home buying concerns are behind you now and you're on your way to closing the event that transfers ownership of the property to you. You will encounter issues specific to your location and your transaction, issues that can best be explained and handled by your local real estate agent, your lender, your attorney, your closing agent, or others who are helping you complete the home buying transaction.

Never hesitate to ask questions. Ask as many questions as necessary to help you understand the entire home buying process. You are making a long term commitment and spending a major amount of money--you'll feel much better about the transaction if you stay informed and understand what's happening every step along the way.
Source: HGTV.ca

Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.
You are about to invest in your most valuable asset. Many home buying steps are standard yet there might be slight variations depending on the real estate laws and regulations where you live. Here are our top ten recommendations to make you more confident as you embark on your home buying journey.

1. YOUR CREDIT RATING
Getting your finances in order is probably the most important step you should take. Your credit reports are an ongoing look at how you manage your finances. You must know exactly what your credit reports say about your financial history before you apply for a mortgage, because the reports play an important role in the mortgage approval process and in determining the interest rate and other loan terms that a lender offers you.

2. UNDERSTANDING HOW MORTGAGE WORKS
Get familiar with the mortgage laws, structure and options. That way, you will be able to decide on the right loan and lender - crucial to your home buying success. It's up to you to determine which lender is best for your needs, and it's always a good idea to have at least a bit of background about the loan process before you talk to a lender.

3. GETTING A MORTGAGE PRE-APPROVAL
Do you know how much house you can afford? Probably not, unless you've talked with a lender. Pre-approval helps you in other ways. Consider this scenario. A home seller gets two similar offers. One is accompanied by a letter from the buyer's bank that states she is pre-approved for a mortgage in the amount of the offer. The other has no supporting documents. Which offer do you think the seller will consider first?

4. SORTING OUR YOUR NEEDS AND YOUR WANTS
Buying a home isn't as difficult as you might think, even if you're short on funds. But the process will go a lot smoother if you get familiar with your real estate market and narrow down your wants and needs before you start looking at houses.

5. PREPARING TO WORK WITH REAL ESTATE AGENTS
Real estate agents represent buyers, sellers, or both for they can work as neutral facilitators for either party. It's essential to understand agent duties and loyalties before you make that first phone call.

6. THE GREAT HOME SEARCH
The Internet is a great tool - you can spend endless hours searching public version of Multiple Listing Service websites. Besides, your agent too will give you multiple listing sheets to study. You can also pick up House For Sale magazines and read classified ads in your local newspapers. You might even plan afternoon drives to preview neighbourhoods. These are all excellent ways to see what's available out there.

7. PRE-OFFER INVESTIGATION
Deciding whether or not you want to buy a house involves a look at its structure and its features, but there are many other topics that are every bit as important to your purchase. Appoint a professional to conduct the home inspection. Study what kind of house is it - site built, modular or manufactured. Consider its market value and resale potential. Do others have a right to use the property? Can you live with the deed restrictions? Is the reported square footage accurate? Is the heating system efficient? And so on.

8. MAKING THE OFFER
There's no one set of instructions that can cover all the differences in real estate laws and customs that exist throughout, so the mechanics of making an offer and its specific contingencies depend greatly on your location. That's why you should sit with your agent, attorney or advisor to fine-tune your offer and take care of all the contractual considerations.

9. AVOIDING LAST MINUTE CHANGES
As your closing date nears, everyone involved in your real estate transaction should check its progress on a daily basis, because staying on top of things means you'll know immediately if there's a problem that must be dealt with. Here's a bit of information that focuses on a few common problems that home buyers must deal with before they close on a house.

10. BEFORE CLOSING
Most of your home buying concerns are behind you now and you're on your way to closing the event that transfers ownership of the property to you. You will encounter issues specific to your location and your transaction, issues that can best be explained and handled by your local real estate agent, your lender, your attorney, your closing agent, or others who are helping you complete the home buying transaction.

Never hesitate to ask questions. Ask as many questions as necessary to help you understand the entire home buying process. You are making a long term commitment and spending a major amount of money--you'll feel much better about the transaction if you stay informed and understand what's happening every step along the way.
Source: HGTV.ca

Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.

Creating a Second Suite

Are you considering making a spare space in your home into an apartment? Whether the kids have all moved out, or you've thought about renting a space in your home to help with the mortgage, creating a second suite, and becoming a landlord, can have many advantages.

While the most obvious benefits are the financial ones (income can subsidize the cost of ownership, property value increases and tax deductions become available), becoming a landlord may give some a sense of pride and responsibility, help derive a greater sense of safety and perhaps even provide a social, community atmosphere.

If you're thinking about renting space in your home, there are many things to think about, and lots of work to be done. Read on to find legal and safety considerations, tips on finding great tenants, and landlord web resources.

Legal & Safety Considerations

How to Prepare

Before you place an ad in the paper, start installing a stove or get a set of keys made, you need to find out what exactly makes a secondary suite legal. Make sure you check with your local municipality for the zoning bylaws-don't wait until you've put time and energy into building a second suite to find out if you're even allowed to have one! If you've purchased a home with an existing second suite, you need to make sure it stands up to fire code requirements and planning standards. The Landlord's Self-Help Centre in Toronto (www.landlordselfhelp.com) suggests two extra steps to further reduce liability once you've legalized your second suite:

1. Make your insurance provider aware of the second suite and enhance your insurance coverage accordingly.

2. Ensure your mortgage holder is informed about your second suite.

Once the Apartment is Ready

There is only one thing you need to think about now-the legal responsibilities of being a landlord. Before you start to look for renters, you need to make sure you understand all your legal responsibilities as an acting landlord. Some of the things you'll need to know include:

· How to comply with Fair Housing Laws, and not discriminate against anyone.

· How and when to make necessary maintenance repairs.

· Once rented, when and why you are allowed to enter the suite.

· Rent increase laws and how to inform tenants of an increase.

· How to serve an eviction notice.

· What a lease/renter's agreement should look like and include.

In order to educate yourself on the legal responsibilities, you should contact your municipal government for help, as well, check your yellow phone book for any landlord or housing agencies listed under Social Services.

Tips on Choosing Tenants

First, be on the ball and be organized. It's your job to be prepared for both telephone calls and visitors. The best thing to do is to create a list of basic information (monthly rent, size, advantages such as location or new appliances), so you don't forget anything when talking to interested people over the phone. As well you should have an application form ready to fax or handout.

The law is definitely on your side when it comes to choosing tenants. There are many great services available to make sure you have sufficient information to make a decision. Credit checks are a great way to see an applicant's history and confirm his or her actual identity.

Doing a credit check is not something to be overlooked because of the fees involved-the tenants you choose could appear to be wonderful people, but when it comes down to it, you need to know more about the strangers before you let them into your home. You have the right to ask for and contact references and past landlords. You can even ask for their banking information, to obtain their history. While you can ask for income information, it is only legal to do so if you also ask for rental history, credit information and get approval for a credit check (making a decision based on income alone would be discrimination).

Don't just "go for the green" when choosing tenants. It's up to you to find trustworthy, reliable renters, but it's just as important to choose renters you get along with. Once you have applicants that have passed the tests mentioned above, there are helpful ways to decide between tenants:

· Set up a short interview, which will enable you to see what they are like, and allow for open communication between both parties.

· Make sure to ask questions about their lifestyle habits. For instance, if they play an instrument, find out if they are willing to restrict playing it to certain hours.

· Is their personality compatible with yours, and other family members that live in your household?

· Do they have pets? If you have pets, are they allergic?
Source: Sonja Rasula hgtv.ca

Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.