Kirby Cox's Calgary Real Estate Blog - Seller Tips

Fall 2024 Brings Lower Interest Rates

Fall Brings Lower Rates & More Listings to Calgary Market.

Many home buyers sat out the usually busy summer market in Calgary, most likely put off by high mortgage rates, inflexible list prices, and slim pickings. However, with the recent mortgage rate cuts, rising new home construction and gains in new listings, we appear to be on a journey to healthier market conditions for Fall 2024.

This trend is expected to continue throughout the remainder of the year with higher-priced properties mostly driving up inventory, as affordable, lower-priced homes continue to be in short supply.

Following stronger-than-expected price gains earlier in the year, the Benchmark Price for a detached home in Calgary was $762,600; an average townhome price was…

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5 Features That Can Make Your Home Challenging to Sell

Yay!!!! You’ve finally found the home of your dreams. Right?

Before you commit to buying, be sure to consider whether some of your favorite features might be a detriment when it comes time to sell. Some design and architectural elements—such as swimming pools and tile floors—divide home buyers evenly, with half considering them a no-go and the other half absolutely loving them.

While these amenities won’t necessarily be the main factors determining whether or not you buy the home, it’s best to know exactly what you’re getting into. Here’s what to watch out for when buying your dream home, both on the upside and the potential downside.

1. A swimming pool

Living in Alberta where it often feels like Winter for 8 months of the year, don’t…

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Your Complete Guide to Downsizing: How and When?

If you're wondering when the right time is to say goodbye to your family home and downsize to a home more suitable for your lifestyle and needs, consider these scenarios:

• You plan on travelling: if you're nearing a time in your life when you plan on seeing more of the world, then leaving a big home just sitting doesn't seem sensible. You can downsize to a home that's more appropriate, and then rent it out for the months you are away. 
• The kids have moved out: with your kids moving out and you becoming an empty-nester, you likely don't need the same amount of space anymore. This also leads into the next point...
• You have empty rooms: if you have rooms in your house (especially bedrooms) that are sitting empty and you can't come up with a…

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Tips for using a REALTOR®

Everyone knows that buying or selling a house is a big deal. It is most likely the most expensive purchase you will ever make, so you want to make sure it’s done right. Whether it is a condo, a townhouse or a single-family home, there are always hoops to jump through and tricks of the trade that will help make the process easier. This is where a REALTOR comes in. This professional knows the market well, understands the process of buying/selling and knows how to do it efficiently. Here are some of the top reasons you should use a REALTOR® to assist you in buying or selling a home.

Excess of Resources

A real estate agent is generally associated with a large realty company with countless resources and other professionals able to provide you with…

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Tips for selling your home in winter

If you currently have your home listed, or are thinking of putting it up for sale soon, don't let the cold weather turn you off from hitting the market. With a few simple tips, your home can be warm and inviting for all the prospective buyers in the marketplace this winter. 

• Take advantage of the holidays: curb appeal is an important part of peaking interest in your home before a buyer even steps inside, and this time of year offers extra opportunities to add to your exterior. Adding some Christmas decorations or a wreath on the door can add a cozy feel that will allow a prospective buyer to picture themselves living in your home. Not to mention, the red and green look stunning against that white blanket of snow!
• Make sure that fireplace is…

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When real estate isn't a DIY job

We’ve all seen those signs around town and perhaps in our own neighborhood. If you’re thinking about selling your Calgary home in the near future you might be thinking this is a great way to save some money -- but is it really?

While keeping those commission dollars in your pocket instead of a Real Estate Agent's is definitely tempting, not all homeowners are up to the challenge of selling their own home. Even if it’s a straightforward transaction, there is plenty of legal paperwork as well as advertising and marketing challenges to take care of. For most people these three items alone are a deterrent to selling your own home. A home is a financial investment so it makes sense to use a professional REALTOR®.

Access to MLS®

REALTORS® have access…

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Successful Home Staging in Autumn

If you're thinking of selling your home this season, you want to ensure your space looks as appealing as possible to potential home buyers. But how do you do that without spending too much money? This is where home staging can be a cost-effective, and easy way to up the ante on a home sale. Plus, the colours this time of year really bode well for appearance of a home!

Here's some simple tips for successful home staging in Autumn:

• Keep it Clean: Look at your home as though you’re seeing it for the first time. Is every room neat, spotlessly clean, dusted and uncluttered? Steam clean carpets and wax floors. Wash walls, heating and A/C vents and light fixtures. Pay special attention to your bathroom and kitchen - make sure that tile grout is mildew…

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How to solve common debt and down payment issues

When it comes to purchasing power, the three most important factors are your income, debts and down payment. Any one of these can greatly impact the amount of mortgage you qualify for. Lenders are primarily concerned that housing expenses not exceed a certain percentage (28% - 32%) of the homeowner's gross monthly income. Housing expenses include monthly mortgage principal, interest payments, property taxes, condo fees, utilities and homeowner’s insurance.

Here's some solutions to some common debt and down payment problems:

DEBT

• Consolidate your debts by taking out one loan and paying off your bills with the money.
• Pay off long-term debts by using some of your cash and making a lower down payment.
• Pay off long-term debt by selling…

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What Every Homeowner Needs to Know About Principal Residence Tax Changes

Starting for the 2016 tax year, which is generally due late this month, there are changes in place in regards to principal residences. Now, Canadian homeowners are required to report the sale of principal residences on their income tax returns, in order to claim the full principal residence exemption. 

In the past, many Canadians assumed that every sale of a residence was tax-free because of the Principal-Residence Exemption (PRE), and up until now the CRA has not required Canadians to report their sales. The result has been that many have sold residences, have not reported the sale, have paid no tax, even in situations where tax should have been owing. So finally the CRA decided to crack down.

When you sell your principal residence or when you…

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Tricks to Help Sell Your Home in a Buyer's Market

Calgary's real estate market has been sitting in buyer's conditions for the past 5 years or so. As we move into 2019, these conditions will more than likely continue for a bit longer. However, if you're trying to sell a home in the current conditions, here's some simple tricks that can help. 

• First impressions are important: curb appeal is crucial, so make sure your home looks attractive and appealing from the outside. The first thing they see and the feeling they have when they drive up will set the mood for the showing!
• Keep the closets half-empty: every buyer is looking for storage, and the more storage the better. Making your rooms and closets look emptier and decluttered will give the illusion of more space and storage.
• Remove your pets:…

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