The Citizen, 2007-10-18, Page 19THE CITIZEN, THURSDAY, OCTOBER 18, 2007. PAGE 19. (MS) - Homeowners are fullyaware of the fluctuating real estate
market that’s existed since the turn
of the century.
What’s a good market one day
might be bad the very next, making
it even more difficult to choose a
time to put a home up for sale.
Often adding to that difficulty is
the handful of other variables, such
as weather, geographical location,
and just how many other people are
selling at the same time as you.
Those thinking of putting their home
up should consider the following
factors first.
· Local economy: If your local
economy is struggling, then it’s
generally a bad time to put your
home up for sale. High
unemployment rates are one thing,
but if a large company with
rumoured layoffs is in your
immediate area, chances are people
will be shying away from looking
for a home.
Large purchases such as home
buying are understandably put on
the back burner when people fear
they might be losing their jobs.
On the other hand, if a large
company is moving into your area
and bringing with it an entirely new
workforce, this is great for yourlocal economy and and represents a
good time to put your home up for
sale, as those migrating to your area
will need a place to live.
· Interest rates: This is a no-
brainer, but low interest rates make
housing more affordable, creating a
great opportunity for sellers.
Chances are, if you’re selling a
home, you’re also looking to buy
one, so low interest rates will not
only help you sell your home, but
help you better afford to buy your
new one as well.
· Competition: Competition can
work in two ways. If your home is
one of very few in your area on the
market, that’s a good thing, as
potential buyers will be more likely
to compromise if there are fewer
choices available to them. However,
buyers like to comparison shop as
well, and might be quick to make a
decision if they can compare your
house to another in a similar price
range.
· Pending sales: The pending sales
in your area can indicate whether a
market is moving slowly or rapidly.
Pending sale refers to homes that
have been sold but not yet closed. To
determine how quickly or slowly a
market is moving, compare thenumber of pending sales to the
number of new listings.
If there are substantially more new
listings than pending sales, the
market’s not moving fast, and it
might not be the best time to sell
your home. If the ratio is closer to
1:1, then the market’s doing
well.
In general, there will always be
more new listings than pending
sales, but the closer the two numbers
are to one another will indicate the
condition of the market you’re about
to enter.
· Season: Traditionally, spring has
been the time most sellers put their
homes on the market, which makes
it one of the more competitive times
to sell your home. If you’re
experiencing a mild winter, you
might want to consider putting your
home on the market in mid- to late-
winter.
Interest rates will likely be lower
around this time, and you’ll face less
competition as well.
If it’s a particularly harsh winter,
however, this is not a good approach,
as buyers won’t be out patrolling
neighbourhoods in two or three feet
of snow.
Choose the right time to sell your homeFFaallll HHoommee IImmpprroovveemmeenntt 22000077SCOTT TOWNSENDSCOTT TOWNSEND
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(NC)—Colder weather, shorter
days and falling leaves mean it’s
time to get your home ready for the
winter months.
Fall home maintenance involves
more than raking leaves and storing
garden furniture. It requires
attention to your roof and gutters,
your foundation, faucets and
windows, and even your ceiling
fans.
“Winter can be hard on a house, so
we recommend a number of steps to
prepare your home for the increased
cold and moisture,” said Colin
Smyth, AmeriSpec of Canada.
“There are things that most
homeowners don’t even think of that
can make a huge difference.”
The following are some tips from
AmeriSpec to make sure you’re
ready for the winter months:
• Protect the outside faucets – For
those who do not have freeze-proof
faucets, it is important to shut off
the indoor water valve and make
sure the outside faucet is
completely drained.
• Clean and reverse the ceiling fans
– Turn the fan off, clean and oil the
motor, clean and dry the blades and
reverse the air flow direction to
push warm air down.
• Replace batteries in the smoke
detectors and test the smoke alarms
– Batteries should be replaced
twice a year and all smoke alarms
should be tested weekly.
• Apply weather-stripping to
windows and doors – Even
insulated windows and doors
require additional reinforcement
for winter. Weather-stripping
reduces drafts and saves on heating
bills.
• Caulk around window and door
casings to keep out air and water –
If your house has wood siding with
window frames that stand out from
the siding, caulk the top and sides
of the frame. Don’t caulk under the
sill - that space should be left open
to allow moisture inside the wall to
escape. If your house is brick or
stone, with window frames that are
set into the finish material, caulk
all four edges of each frame -
where the brick mould meets the
masonry.
• Fix up your gutters – Ensure there
are no leaves or other debris in
your gutters in order to prevent
overflow and leakage during heavy
snow or rain.
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Fall maintenance checklist