Things are proceeding well with the sale of our Mountain Laurel listing. In real estate, after a house is “sold”, for the week or two following there is a lot of activity. The buyers have to satisfy their conditions; mortgage, insurance, status certificate (for condos) and home inspection. Mountain Laurel’s inspection is today and then the last condition will be removed and the offer will be “firm and binding and proceed to close”. In my world we say the offer is “firmed up”. If you hear that, you know you’re good.
The Fraser Institute released their report card of Ontario schools. I always look forward to writing about this. Laurelwood Public School got top marks this year. The school’s ratings jumped 11 points! But just like real estate statistics, I think its best to look at trends, some kind of looker look approach. I provided a link. The statistics are all there for the sorting through. One of my rules about real estate (Rule 91) is buy a house in a good school zone. It will appreciate at a better than average rate.
Comfree or the Property Guys, which is better?
The post I wrote about these FSBO companies generated a letter from both. Comfree wanted to be referred to as a brokerage rather than a franchise and Property Guys threatened me with litigation. To avoid litigation, I removed the post.
Everyone wants to know what their home is worth. Most people think its worth more than it is. So, I wrote a post describing why I think that is and offering free, public historical information in the form of a neighborhood report for anyone who wants it. NO FREE HOME EVALUATIONS. Just the facts.
What if I price my house too high?
With the spring real estate market just around the corner, in a similar post aimed at first time home sellers, I mapped out what happens when you price your house too high. You basically squander a very important timing opportunity.
Will prices go down this year?
Finally, I pulled out the old crystal ball and mapped out a pseudo-economic reason why home prices might fall later this year. I tried to build a case to support the reasoning that the best time to buy a house will be the late spring or summer.
365 Rules about Real Estate
I’m up to Rule #60 of the 365 Rules about Real Estate. My favorite rule from last week is Rule #59: Think about your exit strategy. Most people when they are buying a house are so focused on the buy they fail to consider that someday they are going to want to sell.
Another successful week.
If you have any questions, comments or suggestions I can always be reached at [email protected] and 519.729.4116.