You know what they say about creating a good first impression. It’s especially true when it comes to selling your home, and that first impression starts right from the curb – literally. A beautiful and well-maintained lawn sends a strong signal to the buyer about your property from the very first glance.

While it may be tempting to put off mowing and watering while you concentrate on getting ready to move, it can be a costly mistake. You’ll be missing a great opportunity to show that you care about every aspect of your property . . . and that maintenance has not been put off because you plan to leave.

Here’s a simple guide to keeping your lawn in picture-perfect shape. They’ll come in handy not only while you’re showing off your home for sale, but also when you move into your new home.

• Don’t cut your grass too short

Your lawn can be mowed frequently, provided no more than one-third of the grass blade is removed in a single mowing. Adjust your lawnmower blades to cut as high as possible. Low mowing results in a shallow root system. This reduces your lawn’s ability to absorb water and nutrients and makes it susceptible to browning in dry periods. Another problem with cutting the lawn too short . . . it encourages invasion by broadleaf and grassy weeds.

• Keep lawn mower blades sharp.

A sharp blade shears off excess grass cleanly and produces a cut tip that heals more quickly and imposes less stress on the grass below.

• Leave grass clippings on

Unless the grass is exceptionally long don’t rake up and remove grass clippings. Clippings contain nutrients and water, and break down rapidly. You can cut back on fertilizer (especially nitrogen) by up to 35% by leaving the clippings on the lawn.

• Best time to cut

The best time to cut your lawn is when it’s dry. Dry grass cuts cleanly and clippings distribute more evenly.

• Right time to water

Water in the early morning when there is little or no wind. This allows more even water distribution. Water before midday when the evaporation rate is the highest.

• How often to water

It’s not how often, but how thoroughly you water your lawn that produces the best results.

• How much water

Next time you turn the sprinkler on, check to see how much water you’ve applied. Place a can or jar in the area being watered, and then check the water level inside. Levels from 2.5 to 4 cm of water in the can means that the lawn is thoroughly watered. If you remember how long it took your sprinkler to fill the container, you can use the same approach on all areas of your lawn. Some parts of your lawn will need more water . . . light solis, slopes, areas near buildings, curbs, and sidewalks.

• One last tip

Next time you’re in the market for a lawnmower, consider mulching mowers that recycle grass clippings . . . returning nutrients to your lawn.

We are happy to share more ideas on how to maximize curb appeal or show off your home to its best advantage, Call us at 905-358-MOVE (6683), or email: [email protected]

Chance are you’ve heard the expression about ducks . . . if it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck. Unfortunately, the same logic can’t be applied to mortgage insurance

There are two very distinct types of mortgage insurance that may come into play – one is Mortgage Loan Insurance and the other is Mortgage Life Insurance. Even the names sound similar, but these two types of coverage have completely different purposes and benefits.

It isn’t surprising that consumers sometimes confuse the two. The homebuyer may not really understand what they’ve bought or even make the wrong choice when deciding on coverage. Either way, you need to know the difference, so let’s separate the duck from the goose.

Your mortgage lender will typically mention both types to you when setting up your financial plan. Mortgage Loan Insurance is considered a high-risk loan and this is determined by the amount of your down payment. If you have what is called a high ratio mortgage (less than 20% down payment) and you’re financing through a major Canadian financial institution, you’ll be required by law to take out mortgage loan insurance.

Here’s the bottom line: mortgage insurance protects the lender if you don’t make your payments. It doesn’t protect you, the buyer, but you still have to pay the premium.

The hardest part of buying a home for most people, especially the first one, is saving the down payment. Buyers that don’t have 20% of the purchase price to put down can purchase with as little as 5% down, as long as they have mortgage loan insurance. Then, if the borrower defaults on the mortgage, the lender is paid back by the insurer. This type of insurance allows buyers, who might not otherwise qualify for a loan, to still get the financing for their home purchase. This stimulates the Canadian economy, protects lending institutions and helps to stabilize the country’s economy.

A major provider of this type of insurance in Canada is CMHC (Canada Mortgage and Housing Corporation) the federal government’s housing authority. That’s why you will frequently hear Mortgage Loan Insurance referred to as CMHC insurance. You can learn more on the CMHC web site www.cmhc-schl.gc.ca.

The second type of mortgage insurance is Mortgage Life Insurance. It is optional coverage you can choose to buy if you want to ensure that your mortgage will be paid in full if you or a co-owner dies. It is essentially term insurance with coverage that reduces with your mortgage principal. It can be set up as joint coverage for multiple owners, with the benefit falling to the survivor(s) if one owner dies before the mortgage is paid off. There are choices when it comes to purchasing Mortgage Life Insurance, and the rates and coverage will vary based on the insurance company and your own personal history.

You can learn a lot more about mortgages, insurance and the entire home buying process from your Coldwell Banker® real estate professional. Take advantage of our helpful advice by calling 905-358-MOVE (6683), or email: [email protected]

There’s a practice going on in some major Canadian real estate markets that buyers should be aware of. When home prices began to spiral, a tactic was spawned to stimulate interest in a listing and achieve the highest possible sale price in a short period of time. What is it? It’s under-pricing the listing. Intentionally listing properties at well below their market value and then holding off on showings or offers until a specified date can create a ‘bidding war’ scenario where multiple buyers eagerly scramble to get in on a ‘great deal’.

Even though the pace of sales in Canadian markets is falling behind last year’s record-breaking number of transactions, prices continue to rise. Now, a dramatic increase in the number of new listings in recent months has resulted in a more balanced market than we’ve seen in years. Nevertheless, homes in highly sought-after neighborhoods will always be in demand, and these are the homes where the under-pricing strategy is most prevalent.

While the under-priced listing can sometimes deliver a good end-result for the seller, it can also result in a great deal of wasted time. Prospective buyers who may be able to afford the undervalued list price, may not be able to, afford what the house is actually expected to sell for. Frustrated buyers are dealing with mortgage lenders and sometimes even paying for home inspections on properties they ultimately will never be able to buy. Under-priced listings can become a waste of time for buyers and sellers alike.

So, how can you be sure that you’re not wasting time, money or effort making an offer on a home you can’t afford? Of course, you could simply avoid properties that seem obviously under-priced or are holding out for offers. That’s a scenario that no seller wants, and the risk of it happening is increasing as the market cools and there are more listings for buyers to choose from. But there’s a better way for buyers to know the expected sale price of a property – and that’s where we can help.

Before deciding to pursue an offer on a property, ask your sales representative to prepare a Comparative Market Analysis (CMA) for you. This report will show you recent sales for comparable properties in the area, as well as current listings and expired listings. With this invaluable information, along with some advice from your Coldwell Banker sales professional, you can determine an estimated price range for a listing and choose to make a realistic offer or move on to another listing.

You can trust in our years of experience in the Niagara market to help guide you to making a wise and informed decision. Call us at 905-358-MOVE (6683), or email: [email protected]

You’ve no doubt heard stories of the “Bidding wars” that sprung up during Canada’s record-breaking pace in the housing market. Good news for home sellers. Buyers, not so much. While choices can be limited in a hot market there are several tried-and-true tactics that can help you acquire your dream home.

Homebuyers can strengthen their negotiating position by getting finances in order first. Before you reach the stage when you’re ready to prepare an offer, get pre-approved for a mortgage. Your Coldwell Banker sales professional can put you in touch with a reputable lender who will offer you competitive rates and terms. Going into negotiations with a pre-approved mortgage lets you make an offer that is not conditional upon obtaining financing. Your representative will be presenting a ‘clean’ offer with fewer conditions. The fact that you already have financing in place also demonstrates that you’re a stable, dependable buyer. It all adds up to make your offer more appealing.

In a hot market, where other prospective buyers might enter negotiations at any time, it’s to your advantage to keep counter-offers to a minimum. Your sales representative can help you prepare an offer-to-purchase that accommodates the seller’s terms as much as possible. Keep in mind that other aspects of the offer may have value to the seller beyond just the purchase price. For example, if the seller specifies a closing date other than what you’d prefer, think twice before making a change. Measure the date’s importance against the value of presenting a clean offer, with little in it for the seller to object to. What may be a minor consideration to you could have great importance to the seller. Remember that if any aspect of your offer is revised, then in effect, your entire offer is refused. That means everything can come back up for negotiation again, including the price.

Another major factor comes into play if you already own a home. Your offer will become much more attractive if you eliminate the condition of selling your existing home first. You can do this either by selling your existing home before you buy or by taking the more-risky option of assuming it will sell quickly in the current market conditions. If you don’t sell your home as quickly as you hope, it may end up costing you some additional money in terms of bridge financing. That may be an acceptable risk to you, but make sure you have all your facts before you decide. Your Coldwell Banker real estate professional can counsel you on the pros and cons of each option, to help you make an informed decision.

We look forward to sharing our knowledge of the Niagara market with you on the phone, at 905-358-MOVE (6683), or by email: [email protected]

More single home buyers are entering Canada’s housing market than ever before. With inventory levels improving, and interest rates near record lows, homeownership has become a realistic goal. People across the country who may never have considered buying a home in the past are recognizing that a mortgage payment on a house can actually be the same or less than what they would spend on renting.

For most Canadians, buying a home is the most significant financial investment they will ever make, and perhaps even more so for singles who are making the transition on their own. With that in mind, Coldwell Banker has come up with five tips to help single home buyers navigate the home-buying process:

Have a look into your future.
A family of one is much more likely to upsize rather than downsize. Someday someone who is single may add a significant other to their family and possibly even children. Though additional space may not be needed immediately, it’s important to consider potential future plans for a home. Keep in mind that there is no such thing as the “perfect” house. Instead, determine what is essential – number of bedrooms, approximate square footage, neighborhood, etc. And when you do move up, your first home can provide you with equity to purchase your next home . . . or it can be kept as an investment.

Get pre-approved for a mortgage.
Pre-approval gives you a clear picture of where you stand financially and lets the mortgage company know that you are ready to buy. Additionally, this step will demonstrate to everyone involved in the purchase that the home buyer is serious and well qualified.

Location, location, location.
The golden rule of real estate applies to single home buyers as well. Consider factors such as proximity to work, family, recreational facilities and nightlife when deciding where to purchase a home. Speaking with a Coldwell Banker sales representative can help narrow the search to find the location that best suits your needs and lifestyle.

Allow a margin for maintenance.
Owning a home is a rewarding experience. However, being the only person with a set of house keys also means being the only person responsible for maintenance. A leaky faucet and unkempt lawn won’t take care of themselves, so be sure to include future repairs and maintenance in the budget. Another option to consider is a condo or townhouse. They require less exterior maintenance and might provide an alternative to buyers who find the idea of maintaining a yard a bit daunting.

Consider resale value and how long you expect to own the home.
Purchasing a home has historically been a great long-term investment. But there are many reasons why single home buyers may need to move, such as relocating for a job or a lifestyle change. It’s important to think about the length of time that the home will be owned and also consider the resale value of prospective properties during the search. Your Coldwell Banker real estate representative can share the average home price of properties in the Niagara region, how long each property has been on the market and what features increase a home’s value and appeal.

We’re just a phone call away . . . 905-358-MOVE (6683), or email us at: [email protected]

One of the most critical factors in selling a home quickly, and for a good final sale price, is choosing the right list price. There are several different approaches you can take to determine the right price for your property. Which one you choose depends on what strategy you want to use to attract buyers, and how much risk you’re prepared to take in order to attract offers.

Many homeowners simply want to list their property at the highest price they believe the market can bear. They’ve seen what some properties are selling for in their neighborhood; then they add an arbitrary percentage to reflect where they think the market will be by the time they sell in a month or two. It’s a rather optimistic approach, favored by sellers who want to ‘test the waters’ to see just how high the market might go. They think they can try the high-end price first and adjust it downwards later if they don’t get results. As any Coldwell Banker ® professional can tell you, this strategy can be a costly mistake. Overpricing your listing can have several potentially damaging repercussions. Salespeople will be less likely to recommend it to potential buyers, so you’ll get fewer viewings. They may pass it by in favour of other, more competitively priced listings, and in very little time, they’ll simply forget about it. Fewer viewers means fewer opportunities for your sales professional to convert those prospects into buyers.

Trying to solve the problem with later reductions in the list price simply doesn’t have the same impact as pricing it right the first time. In fact, sometimes the opposite is true. Going through price reductions means your house is on the market for a longer time. And the longer it’s on the market, the more suspicious buyers become that something must be wrong. It’s human nature. This means you may have to lower your price even further to get action.

The ideal strategy to stimulate buyer interest is to set your initial price either at or even slightly below market. In fact, in a very high demand area, it may even be preferable to list the most sought-after properties at an under-market price. This is done to encourage the seller’s dream scenario – the multiple-offer bidding war.

How do you know what approach is right for you and your property? This is where the experienced Coldwell Banker sales professional proves their value. Your Coldwell Banker salesperson can prepare a comprehensive market analysis to help you arrive at the right list price. Not only will this report show you what comparable homes in the area recently sold for, it will also show you current listings now on the market. This is your direct competition – the properties you’re competing against for buyers, so choose your price accordingly. Be sure to look closely at expired listings . . . showing you what prices the market will not bear. Count on your Coldwell Banker professional will help you make an informed choice that’s right for the Niagara market.

Reach us by phone at 905-358-MOVE (6683), or email: [email protected]