A Market Evaluation is a comparison of your home, whether in Spruce Grove, Stony Plain, Parkland County acreage properties, the Edmonton area or elsewhere, with homes that are currently on the market or were recently on the market. They include “Active Listings”, “Expired Listings” and properties that have recently “Sold”.

 “Active Listings” are homes currently on the market that are similar to yours and are considered to be your competition.

“Expired Listings” are properties that were on the market but didn’t sell.  There can be a number of reasons for a property not selling:  poor marketing, bad location, a house that needs extensive work…   But the main reason that a house doesn’t sell is the price was too high.  There are generally buyers for most segments of the housing market, if the price is right.  There are also strategic ways of adjusting the price of a listed property, usually downwards, while it is on the market.

Recently “Sold” properties that compare closely to your house probably tell the most about how much your house is worth.  These are properties that buyers felt were the best value for them, given the choices available to them at the time. Now if one of those houses that “Sold” were next door to your home, sold yesterday, was built in the same year, same square footage, identical lot, same development and layout, same parking amenities, same number of bathrooms and bedrooms, same basement development, same condition… and was exposed to the market for all to see and then sold, then you would have a really good idea of what your home should sell for.

However, it is never that simple.  So we compare similar homes (“Active”, “Expired” or “Sold”) and we make adjustments to the probable value of your home, either up or down), to compensate for the differences.  The more homes we compare yours with, the better idea we have of the true value of your home.  Some examples would be: busy street versus a quiet cul de sac, larger home compared to a smaller home, large to small lot, extensively renovated compared to everything being original, in let’s say a 20 year old home.  And if you are fair and honest in these comparisons, adding value or subtracting value, one can start to visualize how much your home is worth.

Usually when I do a market evaluation I bring along all the relevant comparisons, full highlight sheets of “Active Listings”, “Expired Listings” and recently “Sold Listings”.  Although I could select a few properties that closely compare and then have a computer program break down averages (days on the market, square footage, number of bedrooms, etc), I find it more informative to show my clients everything I see and explain to them how I analyzed the information to come up with what I think their home is worth.  It is surprising how people will comprehend a seemingly complex calculation when given all the information, and a slight tutorial on how to analyze the information at hand.

See also the article on BarryT.ca entitled “What is Fair Market Value?”

If you are thinking of selling your home in Spruce Grove, Stony Plain, Parkland County or the Edmonton area, I would be pleased to do a Market Evaluation for you.  Please call me at 780-910-9669, or email me at btwynam@telusplanet.net. 

Not intended to solicit properties currently listed.

So it’s time to sell your Spruce Grove home or Stony Plain real estate in Parkland County.

You should do well considering the unprecedented property appreciation in the Spruce Grove, Stony Plain and Parkland County area over the last few years.

When getting ready to sell, there are things you need to think about. When in a buyer’s market, you need to be the best priced and best home for the money on the market. Your home needs to show well which means clutter free and well kept.

Most home buyers are already over committed and may not be looking for a home that needs major repairs or improvements upon moving (not counting having the money available to do repairs, especially first time home buyers). Take a look at your home as if you were in the market to buy. The following are a few ideas and hints to help you maximize the amount of money you can get for your home.

How does your home look from the street?

That is where prospective buyers will be when they first look at your home and form that all important first impression. Try some of the following:

• remove clutter from your yard;
• consider buying some potted plants to make your yard more eye appealing. Mow your lawn regularly. Pick up after your pets;
• clean your windows and siding;
• ensure your eaves are clear and in good repair;
• do any necessary painting, staining and sealing;
• do your outside lights work, replace any burnt out bulbs;
• do you have wood trim around your house, paint or stain if required;

Now let’s go indoors.

You want a buyer to see a neat, clean, well lit interior. Get clutter out of sight (you never want a house to feel smaller than it is). Ensure carpets are clean and floors are scrubbed and polished and that walls and baseboards show clean and bright. Make sure lights work and are free of cobwebs. You want your home to look spacious, bright and fresh.

• check stairs for loose boards, ripped carpeting, missing or loose handrails;
• ensure doors open and shut properly;
• make sure closets look spacious and organized;
• keep furniture to a minimum so that rooms do not appear smaller than they are.

Take a sniff. Are there any unpleasant odors in your home? If so track them down and eliminate them.

If you have a lot of family memorabilia, consider thinning it out or start packing it.  Remember, you are moving. You want prospective buyers to see themselves living in your home. That mental picture becomes more difficult for them if your house resembles a shrine to you and your family.

Kitchens and Bathrooms

Two of the most important rooms in the home are kitchens and bathrooms.

• clean all appliances, including your oven. Clean or replace your greasy stove hood filters.
• clean your cabinets inside and out, as well as your backsplash. Repair leaking faucets.
• remove items stored on countertops. Remove excess items stored under your sink.
• remove anything stored on top of your refrigerator;
• remove artwork and magnets from your refrigerator;
• in bathrooms, scrub sinks, tubs and toilets;
• clean mirrors, light switch plates;

Basement

Your basement should be clean and not cluttered. If your basement is damp or musty consider a dehumidifier. Check the grading around your house. If the grade slopes toward the house you may want to look at adding a clay based fill to encourage water to drain away from the house. Check your downspouts and ensure they are moving water well away from your home. Most water problems in a basement are due to poor drainage. Change the filter to your furnace. If you have cats ensure the litter box is clean before all showings.

Garage

Make sure you attend to the garage as well. It should also be clutter free. Get rid of old car parts, discarded bicycles, empty paint cans and the hundreds of useless items that accumulate in garages.

Show Time

Now it is time to show your home. You will need a plan of action that assigns duties to each family member so that your house can be quickly ready for showing.

1. open all drapes, blinds and turn on lights to make the house bright;
2. air out the house to get rid of any odors from cooking, pets, etc;
3. pick up clutter and empty garbage;
4. make everything as clean as possible;
5. set your thermostat at a comfortable level;
6. try to remove pets from the house;
7. leave when your house is being shown;
8. display photos of house in summer if your house is being shown in winter months;
9. leave out heating and electric bills;

We all have busy lives and don’t normally live as the above would suggest. But when selling, the above suggestions have proven successful in helping sell homes quicker and for more money. You may not be able to accomplish all of the above suggestions, but if you do, you will realize thousands of dollars more for your effort.

Property to sell?  I’d love to help.  Call me at 780-910-9669, email me at barry@barryt.ca, or contact me here.