The 1% solution: 5 tips to help sell your house

By Jennifer Wilson | Wed Mar 23 2011

Whether you’re moving out of town, moving up or splitting up, everyone has the same goal when they’re selling their home: to make as much as they can.

One way to get the best sale price is to invest a few dollars to spruce up your place for prospective buyers. One rule of thumb is that you should set aside 1 per cent of your asking price, so, if you’re listing for $400,000 a renovation budget of $4,000 isn’t out of line.

Of course, certain projects will get you more, though in most cases you won’t get all your money back. The return can be anywhere from nothing, for skylights and pools, to an average of 75 per cent on high-performing kitchens and bathroom projects.

Here are some tips:

Kitchen

You can expect to recover 75 to 100 per cent of your investment in kitchens and bathrooms.

“The payback is tremendous,” says Frank Turco, Home Depot’s trend and design manager. That’s because buyers don’t want to undertake a cumbersome renovation that restricts access to these key spaces.

A few hundred dollars can give your kitchen a whole new look. Cabinets can be cleaned, lightly sanded and painted to look like new, while hardware can also be updated quickly and inexpensively, with new pulls and handles starting at a few dollars a pop. Outdated track lights can be replaced with more fashionable varieties, focused task lighting and undercabinet lighting. Dingy backsplashes can also be refreshed with a coat of paint or new tiles, which are available in peel-and-stick varieties.

For a bit more of a splurge, try replacing laminate cabinets with wood and laminate countertops for something a higher end, such as Corian or granite. New appliances are also a worthy investment, with stainless steel and once again trendy glossy white appealing to buyers.

Bathrooms

In the bathroom, like the kitchen, painting the vanity, and swapping out light fixtures and pulls can refresh the space inexpensively. Upgrading faucets, taps and shower heads are another simple project in the $50 - $100 range.

Additional storage is also essential in the bathroom, so look into closet and cupboard organizing systems and adding extra shelving.

Or go all out and embrace the trend for more spa-like bathrooms with marble tiling, full glass showers with extra nozzles and high-end showerheads or a steam shower. Double sinks, heated floors and upgraded countertops are also nice perks.

Paint

In all spaces, a fresh coat of paint works wonders – bringing homeowners a return of 50 to 70 cents on the dollar, says says Mariano Gigante, a sales representative with Sutton Group. Others like, Re/Max salesperson Justin Kua estimate a fresh paint job can bring in returns of 300 per cent.

“Even if it is a simple thing to fix, buyers want it done,” says Gigante, noting it also helps sell homes quicker than other upgrades. Wipe away scuffed paint and outdated colours with neutral hues for a fresh, buyer friendly look.

Flooring

Ripping out worn carpets and refinishing, or replacing, battered floors can offer returns of 75 to 100 per cent, says Gigante, noting that laminate and wood offer the highest rate of return.

Turco recommends laminate vinyl options, explaining “vinyl has come a long, long way” and is now available in durable planks, tiles and sheets that can mimic almost any look and texture, with many varieties available in the $60 range for 24 square feet. Plus, as far as projects go, it’s “inexpensive and easy, as long as you have a box cutter and a ruler.”

Other upgrades

Replacing doors and windows can bring in 50 to 75 per cent – and help you save on energy costs to boot.

Landscaping, meanwhile, will put roughly 25 to 50 per cent of what you spend back into your pocket. A well-maintained garden, brick paths and even urns can also do a lot to boost your home’s curb appeal.

A buyer’s first impression is key so for an easy fix up under $100, Turco suggests cleaning up the front yard, repainting pots and planters, laying a new welcome mat and painting the front door.

Read about 10 easy ways to boost your home’s curb appeal here.

What not to do

Finishing a basement will see about a 50 per cent return on your investment, but as a big and costly job, Gigante says it’s only worthwhile if the homeowners intend on using it themselves for a while.

Skip the skylight. While additional natural light can be a boost, this project is expected to bring you absolutely no return, says Gigante.

Also avoid adding a swimming pool or Jacuzzi. It usually doesn’t improve your resale value and can even discourage buyers, such as families with small children.

If you are tackling a larger scale reno or working with a contractor, make sure the project comes in at less than your one per cent resale renovation budget, including a hefty contingency fund. The projects that offer the biggest returns – kitchens and bathrooms – can also bring the biggest surprises, snowballing costs as mechanical problems are uncovered.

Jennifer Wilson is the editor of yourhome.ca

Looking Through the Buyers Eye's

Below are questions to ask yourself when preparing your home for sale, to ensure it looks the best it possibly can to the buyer's eyes.

Exterior

•Does your yard look well maintained?

•Are the trees and bushes trimmed?

•Is your lawn mowed and edged?

•Is your lawn free of weeds?

•Are the decks and patios clean?

•Does your house need painting?

•Are there any exterior holes or cracks?

•Are your walks and porches clean and in good repair?

•Does your roof leak or sag?

•Are any shingles or tiles missing?

•Is your chimney in good shape?



Carpeting/Walls/Ceilings

•Are your carpets clean and in good condition?

•Do your carpets need stretching?

•Are there any pet or smoking odors?

•Do your walls have any cracks or holes?

•Do your walls need painting?

•What about that wallpaper?

•Do your ceilings have any water stains, cracks or peeling?

•Do your ceilings need painting?



Kitchen

•Are your appliances clean and in good working order?

•Are your cabinets in good condition?

•Are your countertops in good condition?

•Is your tile grout clean?

•Is your sink stained, chipped, or in need or re-calking?



Bathroom

•Do your faucets shut off completely?

•Do your sinks drain freely?

•Are your toilets in good condition?

•Are your shower doors shiny?

•Do your tubs need caulking?

•Is your floor in good condition?

•Are your vanities and mirrors in good condition?



Living Room

•Is your fireplace clean?

•Is the fireplace screen in good shape?

•Are all drapes, shutters and shades clean and working properly?

•Are any window screens bent?

•Do all the windows open and close easily?

•Are the windowsills clean?

•Are your doors in good condition?

•Do any doors sag or stick?

•Do the locks work?

•Is the paint in good condition?

•Do the doors seal tightly?



Basement/Attic

•Is your basement/attic organized?

•Are they well lit?

•Are they clean?

•Are the stairs in good repair?

•Do the doors open and close easily?

•Are there any signs of insects or rodents?



Garage


•Is your garage organized?

•Is it well lit?

•Is the floor swept?

•Are there oil spots or other stains on the concrete?

Careful renos can increase home value

President's Message:

The Greater Toronto Area’s spring real estate market is just weeks away and many analysts anticipate that it will be a busy one.

It is expected that the number of properties available for sale will increase as homeowners react favourably to recent months’ activity. It’s also likely that the market will have more homebuyers, prompted to make a purchase before the added costs of the Harmonized Sales Tax take effect on July 1st.

If you’re planning on making a foray into the market this year, now could be the time to undertake improvements, which if carefully planned, can increase the value of your home considerably.

Most of us know that kitchens, bathrooms and a fresh coat of paint inside and out, offer the best return on investment. According to the Appraisal Institute of Canada, you can expect to get back 75 to 100 per cent of what you put into kitchens and bathrooms. Painting can return 50 to 100 per cent of your investment.

While these are typically low risk investments, a number of factors can influence the gains you achieve with other types of renovations. Location is one such consideration. The completion of a basement recreation room for example, can generally return 50 to 75 per cent of expenses, depending on the preferences of future buyers in your area. In a predominantly seniors community its value could be considerably limited.

It’s also important to consider your home’s most crucial needs. Window and door replacement may offer a return of 50 to 75 per cent, but if your existing units are broken, this home improvement should take priority on your project list. Where glaring needs are concerned, the value associated with your home’s overall impression outweighs specific project returns.

When deciding whether to proceed with functional renovations though, it’s also important to consider that significant government rebates are available for many energy efficiency improvements.

There are some improvements that we undertake simply for our own enjoyment, like a swimming pool, from which you can get back up to 40 per cent of your investment or landscaping, which is likely to offer a 25 to 50 per cent return. Despite the limited gains they may offer individually, these types of improvements can also make an important contribution to your property’s overall image.

Consider as well that not all of your renovations need to be sizable. Even minor improvements like new light fixtures, cabinet hardware or faucets can give your home a contemporary look.

For more information visit the Toronto Real Estate Board’s consumer website www.TorontoRealEstateBoard.com to find a REALTOR® who can advise you on wise improvements for your home.

Tom Lebour is President of the Toronto Real Estate Board, a professional association that represents 29,000 REALTORS® in the Greater Toronto Area.

Tom Lebour is President of the Toronto Real Estate Board, a professional association that represents 28,000 REALTORS® in the Greater Toronto Area.

For more information on Estate Home Sales Solutions, Click here

Simple Steps to Energy Efficiency

February 26, 2010 -- When it comes to character, you just can’t beat the charm of an older home. Newly constructed homes however, come with their own unique assets, one of the most noteworthy of which is energy efficiency.

From the roof to the foundation, a number of innovative building practices often go into constructing today’s greenest homes.

Roof shingles for example, are now available in recycled materials. Environmentally friendly spray foam insulation, which can help prevent dampness, keep out pollutants and contribute to structural strength, is even partially made with recycled materials.

Roofs, walls and floors can be insulated as well with special structural panels that consist of two layers of board with insulating foam in between them. The forms that are used to mould a home’s poured concrete foundation can now also be found with insulating ability, and barriers that prevent dampness from rising into the foundation can be used at this stage of construction as well. Even exterior cladding is now insulated to offer greater energy efficiency.

If you prefer an older home though, there are many simple ways to make it more energy efficient and environmentally friendly.

Start with an Energy Star programmable thermostat that will save on heating and cooling costs when you’re not home. You can take this approach a step further by investing in a new high efficiency furnace or air conditioner. Adding insulation to the attic of your home will offer reduced energy costs for years to come as well.

A tank-less water heater will also save on energy costs by providing only the amount of heated water that you need rather than maintaining it in a cylinder.

Even making minor changes can have an impact, like choosing energy efficient light bulbs - Compact Fluorescent Lamps (CFLs) are good and Light Emitting Diodes (LEDs) are even better.

If you’re planning to make cosmetic changes to your home you can do your part for the environment by choosing wood flooring, and even carpet, made with recycled content. Look for low VOC paints and stains as well, which reduce the number of unstable, carbon-containing compounds that enter the air and react with other elements.

In the bathroom, you can keep more money in your pocket by installing low-flow faucets, showerheads and toilets.

Replacing old windows with low-E argon-filled units that have the Energy Star symbol can make a dramatic difference to your home’s energy efficiency as well.

Changing your old appliances with new Energy Star machines is also a great way to reduce energy consumption while enhancing the overall appeal of your home.

Beyond enjoying the aesthetics, cost savings and fulfillment associated with helping the environment, you can also consider getting an energy audit to take full advantage of a number of government rebates for energy-saving home improvements. Please visit www.TorontoRealEstateBoard.com to learn more about them.

Regardless of the approach you choose, remember that nothing can substitute for good-old fashioned conservation. Remember that the energy you save today may well be the energy that is needed tomorrow.

Tom Lebour is President of the Toronto Real Estate Board, a professional association that represents 29,000 REALTORS® in the Greater Toronto Area.

Tom Lebour is President of the Toronto Real Estate Board, a professional association that represents 28,000 REALTORS® in the Greater Toronto Area.

Going Green in Real Estate

January 29, 2010 -- When it comes to character, you just can’t beat the charm of an older home. Newly constructed homes however, come with their own unique assets, one of the most noteworthy of which is energy efficiency.

From the roof to the foundation, a number of innovative building practices often go into constructing today’s greenest homes.

Roof shingles for example, are now available in recycled materials. Environmentally friendly spray foam insulation, which can help prevent dampness, keep out pollutants and contribute to structural strength, is even partially made with recycled materials.

Roofs, walls and floors can be insulated as well with special structural panels that consist of two layers of board with insulating foam in between them. The forms that are used to mould a home’s poured concrete foundation can now also be found with insulating ability, and barriers that prevent dampness from rising into the foundation can be used at this stage of construction as well. Even exterior cladding is now insulated to offer greater energy efficiency.

If you prefer an older home though, there are many simple ways to make it more energy efficient and environmentally friendly.

Start with an Energy Star programmable thermostat that will save on heating and cooling costs when you’re not home. You can take this approach a step further by investing in a new high efficiency furnace or air conditioner. Adding insulation to the attic of your home will offer reduced energy costs for years to come as well.

A tank-less water heater will also save on energy costs by providing only the amount of heated water that you need rather than maintaining it in a cylinder.

Even making minor changes can have an impact, like choosing energy efficient light bulbs - Compact Fluorescent Lamps (CFLs) are good and Light Emitting Diodes (LEDs) are even better.

If you’re planning to make cosmetic changes to your home you can do your part for the environment by choosing wood flooring, and even carpet, made with recycled content. Look for low VOC paints and stains as well, which reduce the number of unstable, carbon-containing compounds that enter the air and react with other elements.

In the bathroom, you can keep more money in your pocket by installing low-flow faucets, showerheads and toilets.

Replacing old windows with low-E argon-filled units that have the Energy Star symbol can make a dramatic difference to your home’s energy efficiency as well.

Changing your old appliances with new Energy Star machines is also a great way to reduce energy consumption while enhancing the overall appeal of your home.

Beyond enjoying the aesthetics, cost savings and fulfillment associated with helping the environment, you can also consider getting an energy audit to take full advantage of a number of government rebates for energy-saving home improvements. Please visit www.TorontoRealEstateBoard.com to learn more about them.

Regardless of the approach you choose, remember that nothing can substitute for good-old fashioned conservation. Remember that the energy you save today may well be the energy that is needed tomorrow.


Tom Lebour is President of the Toronto Real Estate Board, a professional association that represents 28,000 REALTORS® in the Greater Toronto Area.

Signs of Recovery for 2010: More Listings

January 9, 2010 -- I would like to take this opportunity to wish you all a Happy New Year. We have just crossed the threshold into 2010 and I think it is important to look back on the events that impacted the GTA housing market in 2009 and also consider what the future holds.

Last Thursday, the Toronto Real Estate Board (TREB) released MLS® figures for December resale home transactions in the GTA. There were 5,541 total transactions, with an average price of $411,931. The December results capped off what turned out to be a very impressive year. Sales increased 17 per cent annually to 87,308 – the second highest level of sales under the current TREB boundaries (the record of 93,193 was reached in 2007). Average price for the year climbed to $395,460 – a four per cent increase over 2008. However, simply looking at these numbers on their own masks the interesting ride we took over the last year.

In the first quarter of 2009, Canada was in a recession and existing home sales and prices suffered. In fact, sales had been dropping throughout 2008. According to Jason Mercer, TREB’s Senior Manager of Market Analysis, the balance of the housing downturn in the GTA actually took place in 2008:
“The housing market was and is a leading indicator of changing economic conditions. As we moved through 2008, Canadian consumers were hearing more and more bad news regarding the deteriorating state of the US economy and the problems this would pose for Canada. Households, unsure of what the future would hold in terms of employment and income, put their home purchasing plans on hold well in advance of reported GDP and employment declines. Essentially, downward trending home sales reflected eroding consumer confidence,” said Mercer.

With this back-drop, many people were surprised to see a strong rebound in resale housing demand commence in the late spring of 2009 when unemployment was still rising. Mercer further suggests that the quick recovery made a lot of sense and, in fact, was a key driver to broader economic recovery:
“The Bank of Canada reduced interest rates to record lows in response to the economic downturn. This monetary stimulus had the desired effect. Households that were confident in their employment situation moved quickly to take advantage of the affordable housing market in the GTA. The spin-off consumer spending on housing-related items like furniture, home improvement products and renovation services certainly helped economic recovery,” continued Mercer.

With broader economic recovery seemingly in place, what will the future hold for residential real estate in 2010? I asked Jason Mercer to comment both on the short-term and the long-term prospects in the Toronto area. Here is what he had to say: “The big story in 2010 will be listings. Homes available for sale were in short supply during much of 2009. As home owners react to strong sales and price increases seen in 2009, listings will increase over the next year. With more choice in the market, annual average price growth should moderate into the single digits,” said Mercer.

“Long-term prospects remain positive. Sustained demand for ownership housing is based on population growth, which in Canada comes from immigration. The GTA remains Canada’s single greatest beneficiary of immigration. With Toronto’s ethnic, cultural and labour market diversity, this should continue. Many newcomers will eventually find their way into the home ownership market, helping sustain long-term growth in sales and prices,” continued Mercer.

I know we will all be watching the economic situation closely in the coming year, including changes in the housing market. I look forward to discussing housing market trends with you throughout 2010.

Tom Lebour is President of the Toronto Real Estate Board, a professional association that represents 28,000 REALTORS® in the Greater Toronto Area.

Vertical City – The GTA is growing up and going green

September 18, 2009 -- In a recent column I talked about how the Greater Toronto Area is becoming a vertical city, with almost one in every three homes that changes hands being a condominium.

There’s no doubt that homebuyers are drawn to the luxury and in many cases, affordability, that condominiums offer. As a result, the GTA’s population is booming; it currently ranks as the fifth largest city region in North America behind Mexico City, New York City, Los Angeles and Chicago. And it’s interesting to note that as the GTA grows up, it’s also going green.

From schools to office buildings, municipal facilities to retail outlets, buildings throughout the GTA are working to earn Leadership in Energy and Environmental Design (LEED) certification.

It is a rating system in which points are awarded for environmentally friendly building characteristics in five key areas: sustainable site development, water efficiency, energy efficiency, materials selection, and indoor environmental quality.

An internationally accepted third-party certification program, it provides building operators with tools to have an immediate and measurable impact on their buildings’ performance.

According to recent reports, the Canadian Green Building Council (CaGBC), the non-profit organization that implements LEED, has more than one thousand projects registered, with approximately one-third of all projects located in Ontario.

In Canada for only five years, the LEED program has been widely embraced and certainly by no one more than condominium developers.

To qualify for this coveted status today’s condominiums are built with energy efficient heating and cooling systems, low VOC paints and finishes, and low-E argon-filled windows.

You’ll also find innovative energy-saving ideas like rainwater collection facilities, motion sensor lighting in stairwells, and two-chute disposal systems for convenient recycling on every floor.

LEED condos feature individual suite controls that allow you to monitor and limit energy usage, all off switches, programmable thermostats and energy-efficient appliances.

Building amenities include lush rooftop gardens, individual storage units, covered parking for bicycles, close proximity to transit lines and direct access to car sharing company services.

If you’re drawn to the idea of owning a green home you’re not alone. In a Nielson Canada-wide survey of attitudes towards green homes 85 per cent of respondents claimed that certification of the home would play an important role in their buying decision and 82 per cent said they would be willing to invest more money in a home purchase if it was certified.

Beyond helping the environment, there are a number of other benefits to buying a LEED certified condominium. You’ll enjoy better indoor air quality, lower costs for water and electricity usage and likely, a more active lifestyle. You might even enjoy a lower home insurance premium and achieve higher resale value.

If you’re interested in finding out about the many benefits of LEED-certified condos, talk to a Greater Toronto REALTOR®.

Toronto Real Estate Board Members not only have access to up-to-the-minute data on resale housing, they also have special access to a database that contains detailed information on 95 per cent of all new construction developments in the GTA that are greater than 15 units in size.

Some REALTORS® have even pursued special training offered by the National Association of Green Agents and Brokers. Look for the ACCREDITED GREENAGENT™ and ACCREDITED GREENBROKER™ designations.

For more information on the home buying and selling process, neighbourhood profiles and the latest market statistics visit www.TorontoRealEstateBoard.com
Tom Lebour is President of the Toronto Real Estate Board, a professional association that represents 28,000 REALTORS® in the Greater Toronto Area.

Men vs. Women - The Home Buying Process

BURLINGTON, ON (August 17, 2009) – It often seems as though men and women are from different planets, but every day millions of couples navigate through day-to-day and even life-altering decisions. Because a home is the biggest purchase most people will make in their lifetime, Coldwell Banker Real Estate LLC surveyed 1,000 individuals to discover how much men and women differ in the home-buying process.

The real estate company engaged a third-party research firm, International Communications Research (ICR), to delve into the inner-psyche of men and women, asking questions such as “How long did it take for you to know that the last home you purchased was right for you?” and “If you found the home of your dreams but had concerns about its security, would you still be interested?” Coldwell Banker Real Estate also surveyed couples on additional topics, such as “Who wears the pants in the relationship?” when it comes to making major financial decisions.

“The results were surprising,” said Diann Patton, the Coldwell Banker consumer real estate expert. “Not only did we uncover some of the inherent differences between men and women, but we also pinpointed a number of ways that the two genders are actually the same. For example, both men and women are increasingly concerned with having a space to work in their homes – something we would not have seen 40 years ago.” She continued, “We also found that feeling insecure about a home’s safety is a deal-breaker for most people, regardless of gender.”

Below are some key highlights from the Coldwell Banker study:

Women may be inclined to make up their mind more quickly than men …
· When asked how long it took before they knew their home was “right” for them, almost 70 percent of women had made up their mind the day they walked into the house, vs. 62 percent of men. Conversely, significantly more men needed two or more visits: (32 percent of men vs. 23 percent of women).

Women would rather live closer to their extended family than to their job …
· 55 percent of women find it more important to be closer to their extended family (those that do not live in their household) than to their job, compared to only 37 percent of men.

A home’s security is a deal-breaker for both men and women …
· 64 percent of women said that if they found the home of their dreams but had concerns about its security, they would no longer be interested. More than half of men agreed (51 percent).

Couples say that no one “wears the pants in the relationship” in terms of major financial decisions …
· When asked who wears the pants in the relationship (when it comes to major financial decisions, such as purchasing a home), almost 70 percent of respondents living with their significant other said it’s actually mutual.
· However, 23 percent think that they, themselves, wear the pants in the relationship, not their partner. More men than women said this (26 percent vs. 20 percent, respectively).

Men and women agree on how they would use a spare room, for the most part …
When the respondents were asked how they would use an extra 12 x 12 room if it could be anything they wanted, men and women agreed on the top three most popular, and very practical, responses:
· Bedroom: 25 percent
· Office/Study: 15 percent
· Family Room / Den: 11 percent

However, men really do want a “Man Cave”…
· Interestingly, out of the 8 percent who indicated they would turn that spare room into an entertainment centre, it was a preponderance of men leading the charge. In fact, four times as many men as women said they would use the extra space for recreation / entertainment.

In addition to providing background on the survey results, Patton is able to offer tips for couples who are currently going through the process of buying a home. “These results further validate how critical it is for couples to recognize each other’s differences and work together, from deciding a neighbourhood to how to use a spare room,” she said. “Online tools and the expertise of a real estate professional can be particularly helpful for couples, especially if they work together step-by-step along the way.”

Methodology: Coldwell Banker Real Estate engaged ICR to conduct an omnibus survey via telephone in May 2009, among more than 1,000 U.S. respondents. Canadians were invited to participate through a Zoomerang online survey

About Coldwell Banker Real Estate LLC
Since 1906, the Coldwell Banker® organization has been a premier full-service real estate provider. In 2008, Franchise Times magazine’s prestigious Top 200 issue ranked the Coldwell Banker system No. 1 in real estate for the ninth straight year and 12th among franchisors in all industries. The Coldwell Banker System has approximately 3,500 residential real estate offices and approximately 100,000 sales associates in 47 countries and territories. The Coldwell Banker System is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International® division. It is a pioneer in consumer services with its Coldwell Banker Concierge® Service Program and award-winning Web site, www.coldwellbanker.com. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.

President's Message - More Co-Op on Grow Ops

June 12, 2009 -- In recent years, the Greater Toronto Area has seen the rise of indoor marijuana grow operations: illegal activity that uses innocent-looking properties to grow millions of dollars worth of marijuana. Often, these are sophisticated operations, run by organized crime, right in the middle of average middle and upper middle class neighbourhoods. According to the Ontario Association of Chiefs of Police (OACP), indoor marijuana grow operations can, and have been, set up in a wide variety of buildings including detached homes, apartments, and industrial warehouses.

While the vast majority of homes are never used as marijuana grow operations, it is important for homebuyers to be aware of this potential because the effects of these operations can have serious health and safety impacts that persist even after the illegal activity has ended. For example, the humid environment associated with the growing can create toxic levels of mould. Also, stresses and alterations to the electrical system could increase future risk of fire.

REALTORS® have worked hard to help address this issue. Efforts by the Toronto Real Estate Board (TREB) have included:

• creating standard clauses that can be inserted into agreements of purchase and sale to help provide legal assurance for both homebuyers and sellers;

• educating REALTORS® and their clients about these properties;

• organizing forums to bring together government and law enforcement to find solutions;

• participating in a provincial government task force on this issue through our provincial association, the Ontario Real Estate Association; and,

• lobbying governments at all levels for action.

Fortunately, some government action has been taken. Most notably, the provincial government enacted a law that requires municipalities to inspect these properties, once they have been dismantled by police, and ensure that they meet building code requirements. This was a good step, but more is needed.

REALTORS® have called on the provincial government to implement a province-wide registry of former grow operations, which would help prevent unsuspecting homebuyers from being victimized. REALTORS® are not the only ones calling for this. Toronto City Council has also asked the Province to implement a grow house registry.

Grow house information is already being provided in some municipalities. For example, Ottawa Police recently announced that they will make this information available to the public. The London, Ontario Police also provides this information to the public. While this shows that this action can be taken, a province-wide rather than a patch-work approach , would better protect consumers.

When shopping for a home, it is not fair to expect homebuyers to guess about something as serious as potential criminal activity. The Toronto Real Estate Board and REALTORS® will continue to press the provincial government to provide homebuyers with the information they deserve.

Maureen O’Neill is President of the Toronto Real Estate Board, a professional association that represents 28,000 REALTORS® in the Greater Toronto Area.

Preparing Your Home to Sell!

Getting your home ready for sale is not something that should be rushed but is VITAL and will play a big role in not only how fast your home Sells, as well as for How Much.

Perception matters... BIG TIME!!! Within the first 15 seconds of a Buyer seeing your home, they have probably established some thoughts as to what they expect to see inside. It is crucial to have your home in Tip Top shape before starting showings to get the Best action out of Buyers from Day 1.

Follow these Key Steps to maximize your Bottom Line!

Detach Yourself From Your Home.
- Say to yourself, "This is not my home; it is a house -- a product to be sold much like a bag of potato Chips from your Local Grocers shelves.”
- "Let Go” of your emotions and focus on the fact that soon this house will no longer be yours.
- Picture yourself handing over the to the new owners!
- Don't look backwards -- look toward the future.
- You must put your self in the Buyers Shoes and be as critical as you would be about someone else's home.
- Hire a third party who can give you honest opinions and sound advice.

De-Personalize
Pack up those personal photographs and family heirlooms. Buyers can't see past personal artifacts, and you don't want them to be distracted. You want buyers to imagine their own photos on the walls, and they can't do that if yours are there! You don't want to make any buyer ask, "I wonder what kind of people live in this home?" You want buyers to say, "I can see myself living here."

The Clutter has to GO!!!
People collect an amazing quantity of junk. Consider this: if you haven't touched it in over a year, you probably don't need it.
- If you don't need it, get rid of it by either donating it or throwing it away?
- Remove all books from bookcases to give a consistent feel to the bookcase.
- Pack up those knickknacks that take up space.
- Clean off everything on kitchen and bathroom counter tops.
- Put essential items used daily in a small box that can be stored in a closet or cabinet when not in use.
- This is a head start on the packing you will eventually need to do anyway.

Rearrange Bedroom Closets and Kitchen Cabinets

Buyers love to snoop and will open closet and cabinet doors. Think of the message it sends if items fall out! Now imagine what a buyer believes about you if she sees everything organized. It says you probably take good care of the rest of the house as well. This means:
- Organize spice jars and canned goods.
- Neatly stack dishes.
- Turn all coffee cup handles facing the same way.
- Hang shirts together, buttoned and facing the same direction.
- Line up shoes.

Rent a Storage Unit

Almost every home shows better with less furniture. Remove pieces of furniture that block or hamper paths and walkways and put them in storage. Since you emptied your bookcases, store them to make more space. Remove extra leaves from your dining room table to make the room appear larger. Leave just enough furniture in each room to showcase the room's purpose and plenty of room to move around. You don't want buyers scratching their heads and saying, "What can I do with this room?"

Remove/Replace Favourite Items

If you want to take window coverings, built-in appliances or fixtures with you, remove them now. If the chandelier in the dining room once belonged to your great grandmother, take it down. If a buyer never sees it, they won't want it, period! The last thing you want is a personal item to blow your sale because the buyers really want it! Pack those items and replace them, if necessary.

Make All The Minor Repairs
- Replace cracked floor or counter tiles.
- Repair any wobbly interlocking pathways or patio stones.
- Patch holes in walls.
- Fix leaky faucets.
- Fix doors that don't close properly and kitchen drawers that jam.
- Consider painting your walls neutral colours, especially if you have grown accustomed to purple or pink walls. (Don't give buyers any reason to remember your home as "the house with the Electric Orange bathroom.")
- Replace burned-out light bulbs.
- If you've considered replacing a worn bedspread, do so now! (You get to take it with you!)

Make the House Sparkle!
- Wash all windows inside and out.
- Rent a pressure washer and spray down sidewalks and exterior.
- Clean out cobwebs.
- Re-caulk tubs, showers and sinks.
- Polish chrome faucets and mirrors.
- Clean out the refrigerator.
- Vacuum daily.
- Wax floors.
- Dust furniture, ceiling fan blades and light fixtures.
- Bleach dingy grout.
- Replace worn rugs and carpets.
- Hang up fresh towels that suit the bathrooms colour (make the investment in new towels if you must).
- Clean and air out any musty smelling areas. Odours are a BIG no-no. Especially Smoke and Pet Urine smalls

Scrutinize
- Go outside and open your front door. Stand there. Do you want to go inside? Does the house welcome you?
- Linger in the doorway of every single room and imagine how your house will look to a buyer.
- Examine carefully how furniture is arranged and move pieces around until it makes sense.
- Make sure window coverings hang level.
- Tune in to the room's tone and function. Does it have impact and pizzazz?
- Does it look like a model home? You're almost finished.
- Check Curb Appeal.If buyers won't get out of her agent's car because they doesn't like the exterior of your home, you'll never get them inside.
- Keep the sidewalks cleared.
- Mow the lawn.
- Paint faded window trim.
- Plant yellow flowers or group flowerpots together. Yellow evokes a buying emotion. (Marigolds are inexpensive).
- Trim your bushes and trees.
- Edge your flowerbeds perimeter for a clean defined look.
- Make sure visitors can clearly read your house number.
- Re-Seal your driveway if there is obvious Colour obscurities.
- In Winter, Make sure your driveway and front pathway is shovelled all the way down to the concrete.

Find out More... Click here to view a Video on Preparing Your Home for an Open House.

If you would like a Copy of The Coldwell Banker Home Enhancement Guide email: Darcy Toombs with your name and address.

Rate the Resale Value of your Reno

While some renovations may pay for themselves by increasing the value of your home, others could hinder a resale. Here’s what you need to know before you book that contractor.

There are lots of reasons for making home improvements, whether to customize a home to your needs, do repairs and maintenance or make a home more appealing for resale. But all not renos are equal when it comes to how they influence the value of your home. Here are some factors to consider.

If you plan to stay

If you plan to stay in your home for a while, and personal enjoyment or maintenance is your main priority, make your reno choices based on your needs and your budget. If you’re not expecting to move anytime soon, it’s best not to assume you’ll necessarily get your reno investment back, further down the road. After all, home improvements have a shelf life, and any renovation can become dated over time.

If you plan to sell

If you’re planning to sell in the next little while, and see your renovations as a way to add value to your home, you may want to take a different approach to your decisions. According to the Appraisal Institute of Canada’s 2004 Home Renovation Survey, the renovations that provide the highest payback potential are bathrooms and kitchens, with a potential investment return of 75% to 100%, and interior and exterior painting, with a potential return of 50% to 100%.

An eye for the buyer

Once you start renovating and decorating for the critical eye of buyers, you will have to consider their tastes as well as your own:

• Choose tasteful, neutral colours and materials that will appeal to the widest possible audience.

• Avoid cutting corners. The quality of workmanship and materials is also a factor in the return on investment.

• Ensure that the home feels consistent throughout. A luxurious new kitchen will look out of place if the rest of the home looks shabby.

• Try to imagine the type of buyer your home and neighbourhood will attract. A starter home for young couples, for example, might not benefit from a lavish bathroom, whereas an executive home might recoup the costs more easily.

Above all, remember that you may not get all your money back. Ask yourself if you’re willing to put up with the inconvenience and stress of a significant renovation like a kitchen or bathroom remodel.You might consider other, smaller improvements that can help your home show better. Replacing flooring, installing a new furnace or replacing windows and doors can also bring good payback potential.

Renos that could cost you

Adding value to a home isn’t simply a matter of adding on the cost of your renovations. The market you’re in, your neighbourhood and local demand will all influence how much the home is worth. Be cautious of over-renovating beyond the price range of these built-in limitations. Adding other features may end up costing you more when it comes to resale. Swimming pools and hot tubs, for example, offer poor returns in colder climates because buyers see in them additional work and cost. Other renos that may fetch lower returns include landscaping, interlocking and asphalt paving, fences and skylights.

- Article comes Courtesy of TD Canada Trust