Matt Emerson : Blog : Latest Blog Posts

Street View March 2020

Fri, 20 Mar 2020 11:54:00 GMT

COVID-19 Market Transition

Amidst the fear & challenges, the Toronto Real Estate market continues.

how the market was performing in February
what's happend this week
the outlook

Street View February 2020

Fri, 07 Feb 2020 21:25:39 GMT

Toronto's new subway

Are east end residents being taken for a ride? This month's episode includes:

Ontario Line details
Toronto Homeshow VIP
Strong start to the winter real estate market could be a record breaker

Street View January 2020

Tue, 07 Jan 2020 21:22:00 GMT

Building better neighbourhoods

Watch Matt share how the City of Toronto is planning better urban growth & design.

Main Danforth Study Area
Linx Condo opportunites
Year end Toronto real estate market insights

Street View December 2019

Fri, 13 Dec 2019 12:56:00 GMT

$24B in Affordable Housing

Fewer listings & more sales = ?
Bank of Canada decision
Why do we need affordable housing?

Street View November 2019

Sat, 09 Nov 2019 13:00:00 GMT

What are the key market influencers?

Elections, Bank rates & unemployment
Rental market update
Toronto's real estate stats

Street View October 2019

Tue, 08 Oct 2019 21:01:14 GMT

In this month's episode:

Housing Affordability - Ideas for the Federal Election
Toronto's market update, WOW! The demand continues...

Street View September 2019

Sat, 07 Sep 2019 13:46:59 GMT

In this month's episode

Client Appreciation Event - Thanksgiving Pie Party
Bank of Canada interest rate decision
Shrinking housing inventory + consistent market demand = solid August results

Street View August 2019

Fri, 09 Aug 2019 19:45:21 GMT

Super-solid Summer market performance, and $2.9B in tax revenue are contributing to our economy.

Street View July 2019

Sat, 06 Jul 2019 10:41:06 GMT

Is a balanced market boring?

In this month's episode, watch Matt share:

- a large format family home

- steady growth for the Toronto real estate market

Street View June 2019

Fri, 07 Jun 2019 20:39:15 GMT

Things are looking up!

The month of May might have been cold & damp however the Toronto real estate market has been growing. Watch Matt share:

- Toronto's stagering population growth stats

- how the real estate market is trending in the prime of the season

Street View May 2019

Sat, 11 May 2019 13:19:52 GMT

This month's episode includes the VIP launch of The Lookout condos, The Sumach active retirement concept and the Toronto Real Estate Update

Street View April 2019

Fri, 05 Apr 2019 20:05:32 GMT

The Winter Market is Over

This month's episode includes;

balance and consistency
interest rate opportunities
an ideal move environment

Street View March 2019

Fri, 08 Mar 2019 22:21:17 GMT

This month's episode includes:

- the RE/MAX Hallmark Scholarship program is back!

- fresh to market ~ Corktown Urban Home

- the latest Toronto Real Estate market insights

Condo Special Assessments

Fri, 22 Feb 2019 17:19:00 GMT

The not so Special Assessment

What is it? What is the cost and who pays for it? In this episode Matt & Mike discuss;

Kitec plumbing issues
What happens if the owner does not pay it?
Is it the end of the world?

Street View February 2019

Thu, 14 Feb 2019 17:17:00 GMT

2019 Outlook

Where is the market headed?

Learn what's really going on in the Toronto real estate market and see how the fundamentals are impacting home values in the GTA. This month includes:

January Market Results
What's the "Middle Market"?
The 2019 Outlook

Status Certificate

Sat, 09 Feb 2019 20:38:00 GMT

The Status Certificate

What is it? When & why do you need one to buy a condominium in Toronto? In this episode Matt & Mike discuss;

Condo rules that impact your ownership experience
Restrictions for your furry family members
Why your bank may not fund a mortgage on the unit you plan to buy

Street View January 2019

Sat, 12 Jan 2019 20:39:00 GMT

Past Present & Future

Is the market frozen ❄️

Learn what's really going on in the Toronto real estate market and see how the fundamentals are impacting home values in the GTA. This month includes:

2018 Year end results
What's holding the market down
Just Listed ~ Corktown District Loft Click here for

Wealth Building for Every Stage of Life

Fri, 04 Jan 2019 20:40:00 GMT

New Year = New Goals

Helpful hints on where to focus your wealth building

Street View December 2019

Thu, 20 Dec 2018 20:41:00 GMT

How Do Price Brackets Work?

A Season of Change

Learn what's really going on in the Toronto real estate market and see how the fundamentals are impacting home values in the GTA. This month includes:

Price Brackets reveal where home owners are buying
New Corktown Condo Listing
Happy Holiday Wishes!

Putting Property in Kid's Names

Thu, 15 Nov 2018 20:42:00 GMT

Passing along family real estate?

Whether it's a family cottage or Mom & Dad's home, there are some concerns to having your name added to a property title. Learn about;

When it can happen
The $8,000+ surprise

Street View November 2018

Sat, 10 Nov 2018 20:43:00 GMT

Legalization = Stigmatization

A Season of Change

Learn what's really going on in the Toronto real estate market and see how the fundamentals are impacting home values in the GTA. This month includes:

Supreme Court of Canada ruling on sold data
Cannabis affecting home values
Toronto's Tech Talent demand

Joint or Common Tenancy

Fri, 19 Oct 2018 20:45:00 GMT

Buying a home with a partner?

Owning real estate with your Spouse, family or business partner, there are significant differences in how you set-up ownership. Learn about:

The rights of survivorship
The BIG surprise for Tenants in Common

Ask the Expert

Fri, 19 Oct 2018 20:44:00 GMT

Seeking Wisdom

Watch Matt & our group of Trusted Professionals share the insights & advice that will help you succeed with your home ownership journey!

Street View October 2018

Fri, 12 Oct 2018 20:46:00 GMT

Super Balanced Market

Shot Live from Haven on the Bluffs!

Learn what's really going on in the Toronto real estate market and see how the fundamentals are impacting home values in the GTA. This month includes:

2 very fresh property listings
Our latest charity Comedy Night Out
Who benefits from today's market opportunities?

Fix the Fridge?

Fri, 28 Sep 2018 20:46:00 GMT

My house is sold, what do I do?

It's your house right up till the closing date, yours to own, use and maintain. But when a chattel breaks what are the rights and responsibilities of each party:

Do Buyers have to accept broken chattels?
Do Sellers have to fix them?

Kingston Road, Scarborough Offers Excellent Affordability

Mon, 17 Sep 2018 20:49:00 GMT

Where to Find New 2 Bed Condos in the Low $400K's in Toronto

22 East Haven Drive - Haven on the Bluffs

15Km outside the centre of the City you can buy a two bedroom, two bathroom 700+sq.ft. condo with parking & locker for 40% less than downtown.

Below are 5 top features of this new development.

1. New Building with Amenities

Newly constructed and now taking occupancy, 22 East Haven has all of the features you want in a modern condo:

➡️ Concierge

➡️ Exercise Room

➡️ Guest Suites

➡️ Rooftop Deck/Garden

➡️ Party Room

2. Proximity to Downtown

30 Minutes by car from downtown Toronto. Units include a parking spot and bicycle locker

3. Transit / Drive Options

Take the car, bus or GO. You have options:

Drive

TTC

Go Transit

4. Affordability to Downtown

New Construction Downtown Toronto ↔️ $850-$1,000 per square foot.

22 East Haven, Scarborough ↔️ $550-$620 per square foot.

5. Neighbourhood Amenities

No Frills, Cliffside Meats, Bulk Barn, Shoppers

☕️ Starbucks, Tim Hortons, Coffee Time

Victorian Monkey, Tara Inn, Duckworth's

Street View September 2018

Sat, 08 Sep 2018 20:53:00 GMT

How to save $5,000!

Appreciating Clients!

Learn what's really going on in the Toronto real estate market and see how the fundamentals are impacting home values in the GTA. This month includes:

Thanksgiving Pie Event
Enbridge Energy Rebates
Who benefits from today's market opportunities?

Feeding Student Success

Fri, 17 Aug 2018 20:54:00 GMT

Contributing to Our Community

Helping local kids get the right start to the school day, the Duke of Connaught PS breakfast program is a super-fun community program to be involved with:

Creating a safe & fun environment for early school starts
Key sponsors from RE/MAX Hallmark & TD Bank
And the occasional visit from Olympic gold medalists :)

Moving into smaller space

Wed, 15 Aug 2018 20:54:00 GMT

Downsizing?

Whether you're contemplating a move from a large family home or organizing your current space, learn the how-to's from the pro's who know:

Determine a room's function first
Contain what you fill the space with
Donate what you don't need

Street View August 2018

Fri, 10 Aug 2018 20:55:00 GMT

How does a 60 minute commute = 43 days?

Location matters!

Learn what's really going on in the Toronto real estate market and see how the fundamentals are impacting home values in the GTA. This month includes:

The return to price growth
Accelerating interest rates
Family Income + Location = Commute Time

Patent or Latent Defects

Thu, 02 Aug 2018 20:55:00 GMT

What's the difference?

A hole in the middle of a living room floor is patently obvious to everyone that visits a home, however what if there's a carpet and piece of furniture over top of it? It will be discovered after a Seller has moved out of the home and the hole is discovered latently! What are the rights and responsibilities of each party:

Do Buyers have to accept defects?
Do Sellers have to disclose known defects?

How Decluttering Saves Money

Fri, 20 Jul 2018 21:05:00 GMT

Is it just about saving money?

In this episode Toby McPhee shares the fundamentals of decluttering our lives. Learn how this process can:

Reduced stress
Increase enjoyment
Saves time and frustration

Street View July 2018

Sat, 07 Jul 2018 21:06:00 GMT

Watch Our Latest Episode

FURNITURE BANK

Thu, 28 Jun 2018 21:09:00 GMT

Serving our Community

Furniture Bank Toronto is a registered charity that changes lives by providing furniture and housewares to people experiencing poverty or displacement.

We share Furniture Bank vision of a world where everyone has the stability and dignity of a furnished home.

Furnishing Needs

Moving? Downsizing? Remodeling? Your used furniture & housewares have value and can be donated. You'll receive an in-kind tax receipt & the exceptional good feelings of helping our Community.

Watch the Magic Unfold!

People helping people

A growing need in Toronto. Recipients include women and children escaping abuse, newcomers, refugees and those transitioning out of homelessness.

The Bonus

Using the service as one of our RE/MAX Hallmark clients, you are eligible for exclusive flat fee pricing for furniture pick-up's and an invite to the super-cool8th Annual Chair Affair Fundraiser with us (Matt & Madalin Emerson) on Friday November 2nd, 2018.

Amazing Results

Inside The Mind of the Millennial Homebuyer

Tue, 19 Jun 2018 18:57:00 GMT

1) Modest Updates

Think move in ready! This, after all, is the on-demand generation. A dollar spent on updating a bathroom is money well spent or fresh paint goes a long way.

2) Going Green

The falling prices of solar panels combined with the ever improving product quality make this a highly enticing feature to have for an environmentally conscious younger demographic.

3) Outdoor Lifestyle

Outdoor space should have a "relaxing retreat" vibe. Adding a single outdoor patio with some exterior lighting would go a long way to painting the picture here.

4) Think Practical Space

The idea of having a beautifully designed room that is used for a grand total of 5 times a year (we're looking at your dining room) wouldn't be a great use of space. Converting this space into an everyday lounge area is the right alternative.

5) Smarter Home

Adding a smart thermostat or security features like a doorbell camera or floodlights with a camera are not as costly as they may seem (check out our Smart Home Guide). Allowing a Millennial to access their home systems via smartphone is a great selling feature.

Street View June 2018

Fri, 08 Jun 2018 18:58:00 GMT

Watch Our Latest Episode

Street View May 2018

Sun, 06 May 2018 19:00:00 GMT

Watch Our Latest Episode

6 Inexpensive Ways To Make Your Home "Smart"

Wed, 18 Apr 2018 19:04:00 GMT

6 Inexpensive Ways To Make Your

Home "Smart"

You've probably heard the term by now; "Smart Home". It's all the buzz for companies creating a technology to save you time, stress and energy.

The misconception is that you need a modern home with expensive upgrades to have a smart home.

It's not true.

Below are 6 relatively inexpensive way that you can smarten up your home (some may even save you money!).

1. Video Door Bells

It's always concerning hearing the doorbell and not knowing who is outside. More concerning when someone is at your door when you're not home. Leave the days of not knowing to rest. These doorbell cameras will let you see, and speak with the person who's at your door and decide on who gets to enter! (Under $200)

2. Swap Out Light Bulbs For LED

Energy saving light bulbs are not exactly brand new - but it's surprising how many people DO NOT use them! These bulbs are able to save you up to $125 per year! That might not be a ton of money - but could be enough to buy your that Amazon Echo you've been wishing for! ($10-$25)

3. Smart Outlets

Want to leave the lights on for a few hours while you're out with friends - or while your traveling? These handy outlets allow you to set timers that you can plug lamps and any other electronics that you want to be on at certain times. ($25-$75)

4. MOTION-SENSING LIGHT SWITCHES

Forgot to turn the lights off when you left home? No need to worry. These motion sensor light switches do the work for you and will turn off after a pre-determined amount of time. Also helpful for those late night trips to the bathroom. ($15-70)

5. Voice Controlled Bluetooth Devices

(Amazon Echo/Google Home) These hubs can literally do it all. Order groceries, turn on lights, control the heat - you name it! They each have personal voice assistants that can help you to play your favorite music and tell you any factoid you are looking for as well! ($69-129)

6. Wifi Temperature Systems

Hate coming home to a cold house? Or when you leave the heat blaring when you go out? These handy systems allow you to control the thermostat from anywhere inside, or outside you home! Just download the app that the system requires, and you can lay in bed comfortably and make sure your home is the perfect temp! ($60-200)

Pet Value Walk for Dog Guides

Sat, 07 Apr 2018 19:07:00 GMT

Sunday June 24th, 10 am - 2 pm

Join us for a fun morning walk. Help raise funds & awareness for Canadians in need.

Street View April 2018

Sat, 07 Apr 2018 19:05:00 GMT

Watch Our Latest Episode

Scholarship Program

Mon, 26 Mar 2018 19:09:00 GMT

We know education can be expensive!

RE/MAX Hallmark is pleased to announce that we are accepting applications for the 2018 Scholarship program.

Children of past and/or present clients who are applying for their first year of post-secondary education are eligible. This is an amazing program to help with all the expenses of achieving a higher education, and we're here to help your family succeed!

The deadline is for submissions is April 20th, 2018.

Scholarship Criteria

Applicant must be a child of a past or present client of RE/MAX Hallmark.

The applicant must be actively involved in the community (outside of organized school extracurricular activities and programs)

The applicant is required to submit:

a complete application
school marks from grade 9 to current semester
2 referral letters (school official & supervisor where applicant volunteers)
300 word essay (topic of their choice)

Matt & Madalin will provide a testimonial of the applicant and why we feel that the applicant should be awarded the scholarship.

Applicants must be first-year post-secondary students.

The scholarship money is presented directly to the post-secondary institution on behalf of the applicant.

All applications are to be submitted no later than April 20th, 2018 for review by the Scholarship Committee.

6 Signs A Home Might Be "The One"

Mon, 05 Feb 2018 19:13:00 GMT

You might have heard that saying about the number of fish there are in the sea – the sea of prospective dates and mates. The same goes for homes on the market.

Even when the market heats up as it's doing now, it's not uncommon for a buyer to visit 10, 20 or even more homes before finding the property they want to make their home.

These numbers can be daunting, but even the most particular buyers, even buyers who are frustrated by how many homes don't seem like the right fit, can take heart in this one truth of dating that also applies to house hunting: You only need to find ONE.

So the next question is this: how do you know which fish is the one you should take home – I mean, make your home? To help, here are six signs that a given home you're viewing might in fact be "The One":

1. You instantly feel possessive about the property.

When you walk into 'The One' no matter how long you've been house hunting, you'll get an involuntary surge of energy to do whatever it takes to make that home yours. If you're at an Open House and other buyers are viewing the place, you'll start to feel competitive. If you're at a private viewing, you'll start to talk numbers and offer logistics. For that matter, some buyers start making calls to their financial planners, generous parents, and contractors from the front porch steps of their "One" – during the first viewing!

If you walk through a place and leave with your heart or mind set on making it yours, it might be "The One."

2. You start to see its flaws as adorable quirks.

Train tracks 10 feet from the bedroom window? Next door neighbor that runs a pigeon-sitting service? Okay – I exaggerate! But if you find yourself viewing a home with traits that you would normally deem undesirable or as deal-killers, yet you like the place so much that you instinctively compile a mental list of reasons those traits just don't matter, you might have found "The One."

Smart buyers should be aware of a syndrome some call "Pottery Barn Psychosis," whereby the aesthetics of a wonderfully staged home with amazing curb appeal can hypnotize a buyer. This syndrome renders buyers blind to the negative property features, which would be glaring or grave concerns if the place weren't so stinking cute. It's fine to make a conscious decision that the pros of a place outweigh its cons, and even to consciously re-rank your priorities in light of a particular property's advantages.

But throwing reasonable guidelines for your home out of the window because it's just so stinking cute is about as savvy as doing the same with your dating prospects – not a setup for success.

Buyers can avoid falling victim to Pottery Barn Psychosis (and the Buyer's Remorse that often follows suit) by writing down your absolute musts and deal-breakers before you ever step foot in a single property – and by revisiting this document before you write an offer and again before you remove your contingencies.

If you find yourself viewing a home with traits that you would normally deem undesirable, yet you like the place so much that you instinctively compile a mental list of reasons those traits just don't matter, you might have found "The One."

3. You immediately envision your own family, furniture, decor, daily activities or remodeling choices in/to the home.

If you find yourself, during a property viewing, measuring the dining room with your footsteps to be sure your Grandma's table will fit, discussing whether the wall between kitchen and dining room can be removed or your mind's eye photoshopping a given property to insert your bedroom set, your dining table and favorite wall hangings into place it's entirely possible that the home you're viewing could be "The One" for you.

4. You lose interest in seeing other homes.

When you find "The One," your interest in seeing other homes dissipates, instantly – no matter how many homes you've seen or how long you've been house hunting.

5. The bathroom and kitchen don't disgust you.

We humans are born with only two fears in life: the fear of falling and the fear of loud noises. By about eight months old, we start to acquire new fears. Chief among them: the fear of other people's kitchens and bathrooms.

Other people's kitchens and bathrooms hold definite gross-out potential. There's just something about what goes on in those rooms that seems exceptionally intimate and even unsanitary. So, if you happen to find yourself falling in love with a home's river rock shower floor or drooling over the pot-filler, countertop or farmhouse sink, that's a sign that you're falling head over heels with a home that might just be "The One."

6. The money, time and energy spent feels worth it.

Home buying is an expensive, time consuming proposition. And your years of budgeting of earned you a nice nest egg, but it didn't come easy, there might be many a Saturday night at home and a brown bagged lunch reflected in your down payment savings. If you view a home that make all of those sacrifices suddenly feel like the best, most worthwhile decision ever? You, my friend, might have found "The One."

5 Steps Smart Sellers Take to Generate Multiple Offers

Mon, 05 Feb 2018 19:13:00 GMT

Home sales (and values) have been on a strong uptick nationwide thanks to low interest rates, freer lending standards and a drop in the foreclosure rate. Sellers everywhere are breathing a giant, collective sigh of relief! But for all of the buyer activity, it seems like most houses sit on one end of two extremes: they either get snatched up the moment they hit the market (with multiple offers and an above-asking sale price) or seem to languish on the market without an offer in sight.

All sellers aspire to be on the multiple-offer end of the spectrum. Fortunately, there are steps you can take to make that happen. Here are five tips to move your listing in to the multiple offers zone.

1. Price it aggressively.

Homes that get multiple offers are often sold in an "auction" atmosphere. If you think back to the last auction you saw on TV or participated in online, you'll remember this basic element of Auctions 101: the starting price is lower – sometimes quite a bit lower – than the final sale price.

In fact, it's the low list or starting price that gets people excited about the possibility of scoring a great value, whether they're bidding on an antique Chinese pug figurine on eBay or on your home. And when it comes to your home, it's that same, low-price-seeking excitement that will cause many more buyers to show up and view your home than would have come at a higher price point.

In real estate, more showings are an inescapable prerequisite to more offers.

This doesn't mean you have to give away the farm, just that sellers who get multiple offers price their properties from a retailer's or auctioneer's perspective. Work with your agent through the comparable sales data – as recent and as comparable as possible – and then do your best to list your home as a slight discount, not at a slight premium, compared to the recent neighborhood sales. That will get buyers' attention.

2. Give buyers and brokers ample access.

Put yourself in your target buyer's shoes. Say there are 40 homes on the market which meet their specifications, in terms of bedrooms, bathrooms, square footage, price range and location. And 25 of those top the list. But they only have time to see 8 today. If the buyer's broker can't get into your house today, because you have so many restrictions around showing it, your home could very well miss out on a showing with this qualified, motivated buyer.

It might seem overly simple, but if you want multiple offers, it behooves you to make sure your home is available to be shown today. Every day that it is on the market. Inconvenient? Yes. Frustrating? Sometimes. A challenge to keep the place clean at all times? Assuredly. But consider your priorities and what is at stake. If getting top dollar for your home is at the top of your priority list, then you have to be ready and willing to deal with the inconvenience involved in churning up multiple offers and getting your home sold.

3. Make it beautiful.

Really, really beautiful. The homes that get multiple offers are those with look, feel and function that can be described in one word: covetable. You're not trying to create a situation in which your home barely edges out the listing down the street in the hearts and minds of your target buyer. If you want multiple offers, you need multiple buyers to fall deeply in love with your home – enough to bid above the listing price, and enough to compete with others for it.

To generate multiple offers, prepare your home by ensuring it is: immaculately cleaned from the inside out – closets, basements, garages and crawl spaces included, de-cluttered and staged to the nines – this includes fresh paint, carpet and other things that need replacing in perfect working order – make sure things like doors, windows and systems buyers test (e.g., stoves, faucets, heating and air conditioning) are not creaky, wonky, leaky or otherwise dysfunctional.

If you've done any major home improvements or replaced any appliances or systems lately, market that! Show off how immaculate, adorable and move-in ready your home is now – and tout its great working condition for the long run.

4. Expose it to the market.

An offer the very first day your home goes on the market may sound like a dream come true. But it might also incur opportunity costs. See, many buyers can't get out to see homes that quickly – some are unable to house hunt except on the weekends. Listing agents who get multiple offers often plan from the start to expose the home to the market long enough for target buyers to see it and get their offers on the table.

Some agents expressly include open house and offer review dates in the timeline of the listing. It's not uncommon to see a listing come on the market with a calendar of 1-2 Open Houses and an offer date sometime early in the week following the second one. Ask your agent to brief you on the standard practices for market exposure in your local area.

Setting – and publishing – a timeline for market exposure and offers lets buyers know that they will be able to get to the property and get their offers considered, while still creating a sense of urgency.

5. Be ready to course correct.

Is your home one of the houses that has been sitting on the market for months without any action? Do not fret – there might still be hope. In real estate, there's something insiders call the Sweet Spot Phenomenon, where an overpriced home sits on the market for months with no bites, sometimes even through multiple price reductions. Finally, the seller lowers the price to the 'sweet spot,' and it generates multiple offers and sells for more than the final list price.

Yes – there are listings whose sellers net more than they expected because they were willing to revise the list price downward in response to market feedback (i.e., no showings, no offers or lowball offers).

If your home has been lagging on the market, talk with your listing agent about what sort of price reduction strategy is likely to maximize your net sale price. Hint: many more buyers are attracted by chunky reductions or reductions below a common online search price point limit than by tiny, incremental reductions.

For example, you might draw more buyers, and ultimately more money, with a price reduction from $499,000 to $474,000 than with a series of small reductions from $499,000 to $479,000, because there is a set of buyers who may be cutting their search off at $475,000 – so a price cut below that point will expose your home to a whole new group of prospects.

5 Secret Sources of Down Payment Money

Mon, 05 Feb 2018 19:11:00 GMT

Whether you are planning to put down a full 20 percent or pulling together the cash for a 3.5 percent down payment for an FHA loan, your down payment might be the biggest single cash expenditure you ever make. Some scrimp and save for years, while others can ready the cash with less difficulty, but no buyer in the history of home buying has ever said they have too much down payment money.

Here's an insider secret: many buyers have a treasure trove of down payment resources at their disposal, hidden in plain sight. Here's a map to this hidden treasure – a handful of frequently-overlooked sources of down payment funds.

1. Your budget's biggest line items.

Home buying is one of those push-meet-shove-type situations. If you're serious about coming up with your down payment funds, sit down and backtrack over your monthly budget or your last month's checking account statements. Isolate your top 10 budgetary line items and do an internal gut check on whether there is anything on this list that you can slash or eliminate.

If you spend $5 a workday on a bagel and coffee at breakfast and another $15 on your takeout lunch, that's $400 per month – almost $5000 a year! – you can save by simply bringing these things from home (not to mention the health and other benefits you'll gain). And those numbers are not inflated, if you work in a big city. Nor is the $100/month cable bill, the $20 yoga class, the $2,000 vacation or the premium pricing you might paying for cell service.

Redirecting the dollars you would normally spend for some of these big-ticket items back into your down payment savings account is like pressing fast forward on your home buying timeline.

2. Your stuff.

When you need to save money, there are really only two levers you can pull: you can spend less, or you can make more. Selling stuff you already own and don't actually use is a relatively painless way to make more money to go toward your down payment. If you're really serious about home buying, put everything on the table.

Things buyers-to-be often sell (usually online) include:

RVs, cars and motorcycles
designer clothes, costumes, shoes and handbags
underutilized hobby-related gear (bikes, boats and snowboards)
furniture and antiques
electronics, books and CDs (think: TVs, computers, old smart phones, etc.)

Don't underestimate the amount of cash you can bring in from the things you already own.

3. Your skills and time.

One way to make more money is to sell off the stuff you have lying around the other is to get to work! Spend your off-time, your evenings and weekends leveraging your professional skills or personal hobbies to bring in some extra cash.

Once you get serious about coming up with your down payment cash and decide to be creative about where to find that money, using your skills and your time creatively is a power-packed way to open the financial floodgates.

Consider starting out with a simple email to your circle of acquaintances outlining your skills and what kind of work you'd like to pick up. You can also list your potential services on a site like TaskRabbit. If you are crafty you might let your new felting hobby stock the virtual shelves of your shop on Etsy. Even if you aren't "creative" think creatively about what you might do to earn a little extra cash. One acquaintance of mine has earned thousands of dollars dog sitting while she works at home. You'll be surprised by how much you can earn hawking wares on the side or with small business projects, like research, bookkeeping or office organizing projects.

4. Your Parents, Family and Friends.

Many home buyers get by with a little help from their friends (and relatives). Most mortgage programs will allow for some portion of your down payment to come in the form of 'gift money,' which is exactly what it sounds like: money someone gives you to help you buy a home.

The best case scenario is to have some idea of what sort of gift money you can count on as far in advance as possible, as it will impact your own savings targets and your lender's documentation requirements. If you have a parent, sibling or auntie who has mentioned their interest in giving you this sort of gift it is important to bring the subject up, express your gratitude and let them know that you're planning to buy soon. You'll want to have a detailed conversation about logistics and go over everything from timelines to tax obligations.

Check in with your mortgage pro about how much of your down payment needs you can satisfy with gift money – guidelines vary widely based on how much of your own cash you have to put down and what loan programs you're applying for. Lenders almost always require that gift money be contributed along with a gift letter that states that the giver is a relative and that the money is a gift, not a loan. The lender may also require to see a bank account statement from the giver showing that the money was theirs to give – just to be sure they didn't go out and get some sort of loan that they expect you to help them repay.

5. Your Assets.

Some retirement accounts allow you to borrow against or pull out funds, penalty-free, to apply them toward your down payment on a home. Obviously your specific circumstances will determine if it is advisable for you to tap into your 401K or IRA and plug that cash into a house. For some buyers, it may make sense to get your down payment up to 20% by borrowing a few thousand dollars from yourself!

If getting your down payment to the 20 percent mark by borrowing from your 401K gets your mortgage interest rate down and allows you to repay that cash to your own retirement account (vs. to your mortgage lender) with interest, you and your financial advisor might agree that this move is the right move for you. Or not – this is a highly personal decision that must be made strategically, but some homebuyers should at least explore whether their retirement accounts are a sensible source of some portion of their down payment funds.

The 5 Top Home Buyer Turn-Offs of 2018

Mon, 05 Feb 2018 19:10:00 GMT

Selling a home in today's market can be a bit frustrating. There's all sorts of home staging and property preparation advice out there, and some of it seems daunting or impossible to follow unless you already live in a haute home or have a serious bankroll set aside to whip your place into shape.

You can't turn a rancher into a Victorian – so don't bother trying. But you do have more control than you may realize over how desirable your listing looks to potential buyers. In order to know what turns a buyer on you need to know what turns a buyer off.

Here are 6 big-time turn-offs that make buyers cringe at the thought of purchasing your home.

1. Cluttered, dirty and/or "fragrant" houses

You already know this one. Every seller does. Yet, even in 2018, the era of Houzz and HGTV, buyers across America walk into homes that would make your mother cringe every single day. The people who come to see your home are making one of the biggest decisions they'll ever make. Cluttered countertops, neglected toilet seats and unattended litter boxes not only invite the viewer to turn up their nose, they practically compel a buyer to walk away.

Luckily, you have all the control in the world over how your house looks to your would be buyer. Some sellers find it helpful to think not about de-cluttering, but about pre-packing. Everything that is not part of the home's decor or furnishing and that is not a must for your daily functioning should be boxed up, and neatly packed away in the garage or a storage unit. You'll have to pack it all up anyway when your home sells, and doing it in advance just makes it more likely the place will sell, stat!

Also, no matter how long it takes for your home to get an offer, do not show it without it being completely and totally tidied up: no laundry or dishes piled up, countertops freshly wiped down, mail and paperwork put away and smelly dogs or litter boxes cleaned and/or out of the house. Get every family member on board, kids/cats/canines included, and create a morning or evening cleaning ritual to minimize mad, pre-showing dashes.

2. Overpricing. Buying a house in today's market is hard work!

On top of all the research and analysis about the market, buyers have to work overtime to separate the real estate wheat from the chaff, get educated about short sales and foreclosures and often put in many, many offers before they get even a single one accepted. The last thing they want to add to their task list is trying to argue a seller out of unreasonable expectations or pricing.

When buyers see a home whose seller is clearly clueless about their home's value and has priced it sky-high, many won't even bother looking at it. If they do love it, they'll wait for it to sit on the market for a while, hoping the market will "educate you" into desperation, priming the pump for a later, lowball offer.

Ultimately, you decide what to ask for your home. But you deprive yourself of the professional counsel and expertise you're paying for if you fail to listen to your agent's advice and insights on the subject of listing price. They will point you to other properties that have sold in your area with similar features and use that data to help you understand the right price range for your home. Worried about setting the price too low? Get buyer's brokers' feedback with an advance broker's open house, and work with your agent on an advance plan for bringing the price down if you get no showings or buyer interest.

3. Deceptive listing descriptions or pictures.

Here's the deal: you will never trick someone into buying your home. If listing pics are photo-edited within an inch of their lives, buyers will learn this information at some point. If your neighborhood is described as funky and vibrant, because the house is under the train tracks and you live in between a wrecking yard and a biker bar, buyers will inevitably figure this out.

And misrepresentation alone is enough to turn otherwise interested buyers off. In cases where the buyer feels misled, whether or not that was your intention, they can't help but wonder: If they can't trust you to be honest about this, how can they trust you to be honest about everything else?

Buyers rely on sellers to be upfront and honest – so be both. If your home has features or aspects that most buyers will see as negative, your home's listing probably shouldn't lead with them. But neither should you go out of your way to slant or skew or spin the facts which will become instantly obvious to anyone who visits your home. And in any event, your pricing should account for all of your home's features, pros and cons.

4. New, bad, home improvements.

Many a buyer has walked into a house that has clearly been remodeled and upgraded in anticipation of the sale, only to have their heart sink with the further realization that the brand-spanking-new kitchen features a countertop made, not of Carerra marble, but brand-new, pink tiles with a kitty cat in the middle of each one. Or the pristine, just-installed floors feature carpet in a creamy shade of blue – the buyer's least favorite color.

New home improvements that run counter to a buyer's aesthetics are a big turn-off. In today's era of frugality, buyers just can't cotton to ripping out expensive, brand new, perfectly functioning things just on the basis of style – especially since they'll feel like they paid for these things in the price of the home.

Check in with a local broker or agent before you make a big investment in a pre-sale remodel. They can give you a reality check about the likely return on your investment, and help you prioritize about which projects to do (or not). Instead of spending $40,000 on a new, less-than-attractive kitchen, they might encourage you to update appliances, have the cabinets painted and spend a few grand on your curb appeal. Many times, they will also help you do the work of selecting neutral finishes that will work for the largest possible range of buyer tastes.

5. Bad photos or no photos at all.

Some of the listing photos that make it online are shockingly bad. They have dumpsters parked in front of the house, piles of laundry all over the "hardwood" floors touted in the listing description, and once, even the family dog doing his or her business in the lovely green front yard. Listing pictures that have put your home in anything but its best, accurate light are a very quick way to ensure that you turn off a huge number of buyers from even coming to see your house!

The only bigger buyer turn-off than these bizarre listing pics are listings that have no photos at all; most buyers on today's market see a listing with no pictures and click right on past it, without giving the place a second glance.

Before your home is on the market, ask your listing agent-to-be to see the online marketing for their current listings, to get a feel for how they operate. After your home is on the market, don't neglect to check top listing sites to be sure that the pics for your home's listing represent your home well. If not, ask your agent to grab some new shots and get them online (and say pretty please, pretty please!).