April Stats!

The Saint John Real Estate Board Inc. MLS ® Statistic Report [APRIL 2015 ]

2015 2014 2013 %INC/DEC [ 2014 - 2015 ] Total # of Listings [Month] 542 566 680 -4% Total # of Listings YTD 1817 1847 2033 -2% Total # of Expired Listings [Month] 204 154 177 32% Total # of Expired Listings YTD 754 704 698 7% Total # of Sales [Month] 155 166 151 -7% Total # of Sales YTD 505 473 474 7% Total Sales Dollar Volume [Month] $24,256,628 $24,693,417 $27,280,123 -2% Total Sales Dollar Volume YTD $76,626,860 $73,711,095 $76,863,526 4%   Show Chart   2015 2014 2013 TOTAL Total # of Closed Sales [Month] 135 140 139 414 Total # of Closed Sales YTD 448 406 397 1251 Total Dollar Volume of Closing Sales YTD $64,228,659 $62,746,578 $60,844,053 $187,819,290 Total # Sales Pending 0 0 0 0 Total Dollar Volume of Sales Pending $0 $0 $0 $0   Number of Active Listings in the MLS ® System At time of Report Creation. (click Number for Current Detailed Report) 3021         NUMBER OF UNITS SOLD BY PRICE 2015 2014 MONTH YEAR MONTH YEAR Under 30,000 13 46 7 38 30,000 - 39,999 2 20 4 15 40,000 - 49,999 5 19 5 13 50,000 - 59,999 5 15 12 23 60,000 - 69,999 7 19 4 15 70,000 - 79,999 3 16 10 19 80,000 - 89,999 8 27 9 24 90,000 - 99,999 2 11 2 8 100,000 - 119,999 8 35 15 38 120,000 - 139,999 10 44 17 47 140,000 - 159,999 23 50 15 44 160,000 - 179,999 16 40 18 38 180,000 - 199,999 11 36 12 34 200,000 - 219,999 15 33 7 23 220,000 - 239,999 2 13 5 17 240,000 - 259,999 8 19 5 13 260,000 - 349,999 12 39 14 37 350,000 - 399,999 3 10 2 8 400,000 - 499,999 0 6 1 8 500,000 - 749,999 2 6 2 10 750,000 - 999,999 0 1 0 0 1,000,000 + 0 0 0 1

Thinking of Selling?

If you are thinking of selling your home, then there are a few things to consider.

 We will start on the outside and work our way in.

 

You are trying to ensure that your home has as much curb appeal as possible. Sometimes potential buyers do a ‘drive by” to see if they like the look of the outside before they make an appointment to view the home. Make sure your lawn is cut, trimmed and shrub beds are attractive.

 

Your next decision is which door you want a possible buyer to use. Which entrance into your home creates the most WOW? Whichever door you choose, make sure it is clean and free of debris, spider webs especially this time of year. You want to provide buyers with a warm and welcoming feeling.

 

Smell is very important. The smell of your home can make or break the showing. I think we are all use to the smell of our home so perhaps a very honest friend or neighbor can give it the sniff test. I don’t really recommend the plug in things since that often can send off alarm bells “What are they trying to hide” Also so many people have allergies to scents that it can cause a problem. Clean, fresh and of course home baking make the best impressions. You also have to be careful if you have pets, the smell of a kitty litter box can be a huge turn off.

 

Next you need to declutter your home; pack non-essential things in boxes and store them in the basement, garage, storage sheds or with someone else.

Closets, linen cupboards, hallways, entrances and stairways should be as free from clutter as possible.

 

It may look bare to you but it enables the buyer to appreciate how much space is there.

All surfaces countertops and floor spaces should be as clean and clear as possible.

 

Now you have to De-personalize

·       Family Pictures

·       Diplomas

·       Personal reading

·       Front of fridge

 

So many people, buyers and Realtors alike love to look at the pictures to see if they know the people; they are there to look at the house not who you are. People are nosy so if you don’t want it looked at then put it away.

 

Neutralizing is sometimes a tough one but a neutral décor goes a long way toward enabling a potential buyer to see his things in your home. Paint is the easiest and cheapest way to prepare your home for sale. Soft, warm, clean neutral shades work best.

 

I realize that I am tossing a lot at you but it is a very competitive market out there. Buyers are very picky and for the most part know the market. To get your home sold in a timely fashion and get the most money for it you need to make your house really show ready.

 

Kitchens and bathrooms seem to be the 2 rooms that are of most importance. Now if they have not been updated in the past 10 years or so and you don’t want the expense then the price for you home will probably be reflected in that. If your counter top is a strong non neutral colour like rose or blue, then perhaps you should think about replacing it. You are trying to remove as many objections as possible.

 

 

Buyers and buyer’s agents will often over cost repairs. If you don’t want the expense of replacing the countertop then I would strongly recommend you get some prices and samples that you can leave out. You would be surprised how something like that can increase the value and make your home easier to market.

 

Also new hardware like knobs and pulls for the cupboards and light fixtures can give a kitchen and bathroom a quick facelift. Do make sure that both of these rooms are clean and decluttered.

 

As I just mentioned, new modern light fixtures can give any room a little face lift. Another item to update your home is the trim. Most people are looking for white trim it seems to brighten your home and give it a modern look.

 

Make sure everything in your home is in good working order. If you have had work done on your home recently, then receipts can sometime impress a prospective buyer.

 

Once you have your house listed with a Realtor and it’s ready to show, remember to have light bulbs in all sockets.

 

When your home is being shown turn on all the lights and leave.

Drum roll please....Stats for March 2015

The Saint John Real Estate Board Inc. MLS ® Statistic Report [MARCH 2015 ]

2015 2014 2013 %INC/DEC [ 2014 - 2015 ] Total # of Listings [Month] 406 431 458 -6% Total # of Listings YTD 1275 1281 1353 0% Total # of Expired Listings [Month] 238 173 159 38% Total # of Expired Listings YTD 598 550 521 9% Total # of Sales [Month] 128 111 130 15% Total # of Sales YTD 350 307 323 14% Total Sales Dollar Volume [Month] $19,801,700 $18,563,924 $19,158,950 7% Total Sales Dollar Volume YTD $52,370,231 $49,017,678 $49,583,403 7% Show Chart 2015 2014 2013 TOTAL Total # of Closed Sales [Month] 127 133 105 365 Total # of Closed Sales YTD 309 266 258 833 Total Dollar Volume of Closing Sales YTD $44,344,631 $42,424,878 $37,404,639 $124,174,149 Total # Sales Pending 0 0 0 0 Total Dollar Volume of Sales Pending $0 $0 $0 $0 Number of Active Listings in the MLS ® System At time of Report Creation. (click Number for Current Detailed Report) 2634 NUMBER OF UNITS SOLD BY PRICE 2015 2014 MONTH YEAR MONTH YEAR Under 30,000 12 33 7 31 30,000 - 39,999 7 18 3 11 40,000 - 49,999 6 14 2 8 50,000 - 59,999 3 10 7 11 60,000 - 69,999 3 12 1 11 70,000 - 79,999 2 13 4 9 80,000 - 89,999 5 19 3 15 90,000 - 99,999 4 9 4 6 100,000 - 119,999 12 27 9 23 120,000 - 139,999 16 34 16 30 140,000 - 159,999 6 27 7 29 160,000 - 179,999 11 24 9 20 180,000 - 199,999 9 25 8 22 200,000 - 219,999 4 18 8 16 220,000 - 239,999 3 11 4 12 240,000 - 259,999 6 11 2 8 260,000 - 349,999 9 27 11 23 350,000 - 399,999 6 7 2 6 400,000 - 499,999 3 6 1 7 500,000 - 749,999 1 4 2 8 750,000 - 999,999 0 1 0 0 1,000,000 + 0 0 1 1

So you've sold your home...and it's WINTER!!!

Winter Moving!

So you have sold your home and it is now time to move…but wait there is four feet of snow on the ground, it’s very cold out and they are calling for more snow…YIKES!!!

You’re a gamer and well you have to move so you call your family and friends and somehow get them to agree to help and you save some money because you don’t have to hire a professional crew. Moving day has arrived, you’ve rented a truck and the packing has begun. Your once clean house is now slippery, wet and very dirty with all the traffic coming and going and you are praying nobody slips and falls breaking your prized possessions or worse hurting themselves. The hours tick by and the crew is hungry and you forgot about feeding them, no worries quick call to the local pizza shop grub is on the way and you were smart enough to ask for a couple of bottles of pop. Food arrives, no napkins and no cups and yours are all packed…hmmm…hey we have TP…it will have to do and well pass the bottle. Few more hours and the truck is already to head to your new home but wait you now realize you have over loaded the truck and the bumper is dragging on the ground, now what! Ok a few friends have half tons…take some stuff out, shift the load and all is good, on the road you go.

You have now arrived at your new home, everyone is all excited and you show them around the new pad, lots of chatter but nothing has been unloaded as there is a steep driveway and the guys don’t think you should take the truck down the hill. What to do??? Ok let’s just unload at the top of the driveway and lug everything by hand. Sounds reasonable but those friends aren’t looking impressed, they didn’t sign up for this. Family has given you the look but they know their family and they have to tough it out with you as you have done for them. Hours go by and finally the truck in unloaded, your new home is a disaster, boxes everywhere and the snow, mud and water has your new home looking much worse for wear. Oh and you forgot you now have to go back to your old place and clean up the mess you made.

If the thought hasn’t crossed your mind yet it will soon… a professional crew may have been the wise choice! They are used to this stuff as they do it every day, they won’t have an aching back or sore hands from the hours you put in because they have the right equipment and knowledge to do the job right. It may have cost you a few bucks but when you think about how long it took, truck rental, food, drinks, mess and now less friends it may have actually saved you money to hire a professional.

What does it matter, you are in your new home and all is well… or is it? Good luck finding and unpacking because even though you were smart enough to mark all the boxes you forgot to tell your crew which room was what and they were tired of asking and stuck it anyplace they found room. No worries you will figure it out but I promise it will take a few weeks to find it all and oh one more item…some things will have gotten broken and nobody will tell you because that’s what it costs to hire family and friends. Do them and yourself a huge favour hire a professional moving crew…I wish I had because this was my move and I even toned it down a little for you…

 

The great agents at Oakhill Realty can not only help you sell and find a home we can also help you with the process of moving. We know who to hire because we have worked with them before and we can put you in touch with the right people. Call Oakhill Realty today at 506-633-8383 to get you on the move.

The number are now in for February!

Loading page. Please wait...

The Saint John Real Estate Board Inc. MLS ® Statistic Report [FEBRUARY 2015 ]
2015 2014 2013 %INC/DEC [ 2014 - 2015 ] Total # of Listings [Month] 300 353 400 -15% Total # of Listings YTD 870 850 895 2% Total # of Expired Listings [Month] 153 145 150 6% Total # of Expired Listings YTD 383 377 362 2% Total # of Sales [Month] 102 121 107 -16% Total # of Sales YTD 222 196 193 13% Total Sales Dollar Volume [Month] $16,446,157 $18,909,823 $18,360,353 -13% Total Sales Dollar Volume YTD $32,535,261 $30,453,754 $30,424,453 7% Show Chart 2015 2014 2013 TOTAL Total # of Closed Sales [Month] 83 74 92 249 Total # of Closed Sales YTD 182 133 153 468 Total Dollar Volume of Closing Sales YTD $24,012,861 $20,791,704 $21,958,739 $66,763,305 Total # Sales Pending 0 0 0 0 Total Dollar Volume of Sales Pending $0 $0 $0 $0 Number of Active Listings in the MLS ® System At time of Report Creation. (click Number for Current Detailed Report) 2619 NUMBER OF UNITS SOLD BY PRICE 2015 2014 MONTH YEAR MONTH YEAR Under 30,000 7 21 13 24 30,000 - 39,999 3 11 7 8 40,000 - 49,999 3 8 2 6 50,000 - 59,999 6 8 2 4 60,000 - 69,999 3 9 6 10 70,000 - 79,999 5 11 1 5 80,000 - 89,999 5 13 8 12 90,000 - 99,999 3 5 2 2 100,000 - 119,999 9 15 9 14 120,000 - 139,999 8 18 10 14 140,000 - 159,999 10 21 15 22 160,000 - 179,999 5 13 8 11 180,000 - 199,999 8 16 9 14 200,000 - 219,999 7 14 5 8 220,000 - 239,999 4 8 3 8 240,000 - 259,999 2 5 3 6 260,000 - 349,999 9 18 9 12 350,000 - 399,999 0 1 2 4 400,000 - 499,999 2 3 4 6 500,000 - 749,999 2 3 3 6 750,000 - 999,999 1 1 0 0 1,000,000 + 0 0 0 0
Residential Activity Report by Area

Loading...

Bank Repo's

We have recently listed a few properties that had been picked back up by the banks to be re sold. These properties generate a great deal of discussion and many times a lot of interest. There are a number of real estate TV shows that talk about picking up these properties and turning them around, making a fortune and living the good life…

Now reality…the banking system in our country has been well designed and thankfully these listings don’t come up too often but when they do the banks are required to make all reasonable efforts to capture fair value for the home so that any debt can be repaid. They can’t just dump them at some incredibly low price. Usually they will have and Agent and an Appraiser go in and do an evaluation on what the home should sell for and they must be within 10 to 15 percent of one another. If not then a longer process occurs usually the parties are asked to re-confirm their numbers and a listing price is determined.

The Agent will now list the home on MLS® but often with a number of disclaimers; no employees of that bank, any offer is always made at the buyer’s complete risk and cost, there are no disclosures and the home is sold “AS IS WHERE IS” and sometimes a few more conditions. What does this all mean, well simple terms “buyer beware” you need to do your homework period!!!

I don’t very often come across a bank repo that is a real deal, there are some possible good deals as long as nothing comes up but lots of risk is placed on the buyers shoulders. You need to be very knowledgeable about home construction and the costs that you might occur. You also need to act quickly as these homes don’t usually stick around very long. Unfortunately I often see someone who isn’t as knowledgeable as they think jump in and snatch them up thinking that are going to make a killing!  In the end they may make a couple of bucks or break-even but if they really knew the numbers the reality is they often lose money. Even if you do the work you need to place a value on your time and it should be a fair value. You need to replace only those items that buyers are going to pay for, you don’t need to make your flip a new home! You need to know what similar homes are selling for in that market and you need to come in below these numbers so that you can make some money. I would suggest that if you aren’t making 20% profit then it wasn’t worth the risk!

What about if you are planning on making this your home? Well the same principals should apply, you should have a similar margin in play and you shouldn’t make your new home the most expensive one on the street. Aim for the middle of the pack just in case in the end this isn’t the home for you and your family and you end up needing to sell it.

You also need to know what your legal fees are going to be, if you are selling you will need to know what a REALTOR® is going to charge you, there may be tax implications so I would also suggest you consult with an accountant or tax specialists. In the end if you are thinking of getting into this market you need to do your homework, don’t wait till you see a property that is of interest. We have the knowledge at Oakhill to help you and what we don’t have we know where to get it.

So what do those numbers mean!

As we all know numbers can say just about anything and I won’t put any spin but here is our findings from the latest numbers released by the Saint John Real Estate Board.

Inventory is up and that’s good for buyers

Sales are up over last year and that’s good for sellers

Sales dollars are up and that’s really good for sellers but we may have to wait a month or two to see if that is a trend or just a fluke.

Activity was nicely spread out over the various price ranges.

Mortgage rates have gone down.

I think the simplest advice one can give is if you are buying now is the time! If the price trend continues you may pay more in the coming months. If you are selling make sure you are ready to be on the market, you are priced right and realize you have lots of competition.