Rob Smashnuk

With so many housing choices, especially in urban areas, many first-time home buyers are confused about which kind of residence to invest in. Any kind of dwelling, whether it is a condominium, townhouse or detached home have their respective pros and cons. Before looking into the pros and cons of each property type, it is essential to know what kind of property options are available in the market. Understanding the basic differences between the types of homes can help to make a prudent judgement, especially if you are a first-time buyer.

What Is a Townhouse?

The physical characteristic of a townhouse is a narrow, multilevel residence that is attached to other residences on a street. However, some areas have condominium communities that have two or three-story attached residences. These residences, though physically resemble a townhouse, are in principle condos.

One of the most defining features of a townhouse is its ownership. In the case of a townhouse, the owner usually owns the land on which the house is situated. This ownership is also extended to the front and backyard in conjunction with the residence. Irrespective of the size of a townhouse, the house’s exterior belongs to the owner. In addition, as most townhouses come under the homeowners’ association’s (HOA) regulation, they have to follow several guidelines pertaining to aesthetics rules, fencing, etc. Owners also need to pay for costs involved in insurance and maintenance of the community’s common areas, trash pickup and snow removal.

Condos

Just like townhouses, condominiums (or condos as they are generally called), provide the most hands-off approach to home ownership. The responsibility of maintaining condo exteriors lies with the condo company. However, the costs for maintaining the area are typically borne by the condo owners through their monthly cost and maintenance fees. As compared to a townhouse, condo owners to need to pay for monthly HOA fees as these fees are expected to cover many accessory costs pertaining to condo exterior maintenance, the insurance that covers costly repairs, up keeping and replacements such as that of roofs, elevators, and parking, trash and snow removal. The condo is most suitable if you are eyeing real estate as an investment.

House

Land, exteriors, garage, garden and just about everything else is in your ownership. If this is something you wish for, owning a house is perfect. Detached homes provide the maximum freedom to their owners. Whether it is changing your exteriors, levelling your driveway, decorating, painting or renovating, as a house owner you can make almost all major decisions single-handedly. A house includes ownership and cost of land.

Houses do demand a lot of maintenance and upkeep, whether it is getting your roof fixed, shovelling the snow or maintaining your yard, owning a house requires a major commitment to maintenance. If you are a small family, it may be a little overwhelming to do everything by yourself. In this case, a condo or townhouse may be a much suitable option.

Choosing a home can be overwhelming and confusing, especially if you are not sure which option to choose. Contact Rob Smashnuk Remax. Our agents can help you with making the right choice. No matter what the question is, we have all the answers when it comes to real estate.

When it’s time to sell your home, a bit of preparation can go a long way in bringing you top dollars. But preparation needs meticulous planning, simple upgrades to spruce it up and invite home buyers to rush to invest at once. Consider these suggestions to get there.

Disconnect

This is perhaps the hardest thing to do, especially if you’ve lived there for years. It is tough to disassociate yourself from the memories and emotions of living in a home for years. Think of it as a product to be sold rather than an album containing many memories. Focus on the future instead of the past.

Depersonalize

Once you have mentally disconnected from your home, it’s time to physically do so. Remove the photo frames, artifacts that hold sentimental value, and family heirlooms. Your personal belongings can distract potential buyers from focusing on the house and visualizing it as theirs. They may not be able to share your personal taste either. Your bright yellow sofas may not touch a chord with them the way they did with you. Keep understated pieces around and remove more personalized items.

Decluttering

This is the time to throw away anything you don’t need. If you have not used an item for over two years or even looked at it, it’s time to get rid of it. This includes books, knickknacks, clothes, and bed linen. There is no point in spending money packing and unpacking goods that you don’t really need. Plan ahead so you have time to hold a garage sale, sell online or give away to charity organizations.

Reorganize

Potential buyers are curious to check out every nook and corner. They will open closets and cupboards or peer into cabinets to look at the space inside. If your clothes and personal items topple out in the process, neither of you will be pleased. Rearrange closets, cupboards, cabinets and storage rooms. Keep your kitchen neat and tidy. Fold clothes and hang shirts properly in the closet. Line up the shoes. Make sure there is no dust, cobwebs, pet fur or dander lying around. The last thing you want is to make an excited potential buyer break into an allergic sneezing fit.

Storage Rental

If you have more items than you can handle coming in the way of decluttering, consider a storage rental to put away your stuff. It will make your home look more spacious and will be easier to clean too. Leave enough furniture to lend an air of cozy comfort, allowing enough room for buyers to walk around. Minor repairs for curb appeal add home value.

Repair and Replace

Replace cracked tiles and shingles. Patch holes in the walls. Fix leaking faucets and pipes. A fresh coat of paint will make your home look more attractive. Choose neutral shades when you do so. Bright bold shades may not be everyone’s cup of tea. Replace light bulbs, clean chandeliers and make sure the bathtub is scrubbed. A sparkling bathroom and kitchen can make a big difference. Recaulk tubs, showers, sinks and polish the mirrors and metals. Remove grout, steam clean carpets and replace worn rugs. Make your home look good as new. Your efforts won’t go in waste. In all probability, the returns will be greater if you invest time and money to do it up well for buyers.

Rob Smashnuk, Edmonton Real Estate

The Greater Edmonton real estate market is constantly changing but navigating the tricky world of real estate does not have to be an overwhelming challenge When you choose the Rob Smashnuk team, you choose honest, ethical guidance that you can count on to help you buy or sell a home in West Edmonton. Give us a call today!

Before you set out to buy a residential or commercial property, you need to know the real estate laws and terms to get a good grip on the discussions with your realtor. Here are a few to start with:

Buyer’s and Listing Agents

When you are buying a home, two agents are involved in the process. The buyer’s agent who represents you and the seller’s agent. Sometimes there is only one agent who represents both the buyer and seller but that is not the ideal situation.

Fixed Rate vs Adjustable Rate Mortgages

For conventional loans, you get fixed and adjustable mortgage rate options.

● Fixed rate, like the name, is a predetermined interest rate that remains the same throughout the loan period (usually 20 to 30 years). This offers lesser risks.
● Adjustable rate offers a variable interest rate (5, 7 or 10 years usually). If you are planning to sell or refinance your home before the introductory period ends, this makes better sense.

Pre-approval Letter

You need a pre-approval letter from the bank before you start house hunting, giving an estimate on the amount they can lend you. This helps you determine how much you can afford and reassures lenders when you apply for a mortgage.

Home Listings

Homes for sale fall under the “listings” category. Home listings on websites throw light on the price and number of bedrooms among other details. Look up realtors who list all homes for sale or you may lose out while selecting from a limited listing.

Home Inspection

Once you place an offer on a home you like, the realtor will help you with home inspection for a certain charge. The inspector will look around the home and review the plumbing, HVAC, foundation walls, and electric appliances. If they find substandard fittings or sense something wrong, the realtor can help you bring down the price. If there are severe concerns, you could reconsider the property to save further costs in repairs later.

Appraisal

Once you apply for a mortgage with a lender, a home appraisal is required to estimate the value. This is done with a comparative analysis of other homes sold in the neighborhood, in addition to evaluation of the neighborhood’s value. If the appraised value falls short of the offer you are making, you might be rejected for your home because the lender will be overpaying. To avoid this, ask your realtor to check out the property and neighborhood value beforehand. When you sell, get an estimate on the worth of your home and find out ways to increase home appraisal value.

Contingencies

When you place an offer for your home, you can ask for certain conditions to met before the deal is passed. This is called contingencies. Inspection contingency is when you ask for inspection of the home. Financial contingency is when you get the finances for the loan. There are many other contingencies that your agent should inform you of.

Rob Smashnuk, West Edmonton Realtor

There’s a lot to deal with in real estate matters. A good realtor can explain matters in simple language and is well connected to reliable service providers. Make sure your home search starts with a good realtor to navigate more smoothly. The Rob Smashnuk team specializes in the Secord neighborhood that is growing in popularity rapidly. Our team has the expertise to help you both buy and sell your home in West Edmonton, every step of the way. Give us a call today.

When it comes to purchasing your first home, it can be a nerve-wracking process, especially in the competitive greater Edmonton real estate market. Home buyers can feel lost in the noise, hustle, and paperwork of purchasing their first home. When all you want to do is find your perfect dream home and purchase it, you need an experienced Edmonton realtor at your side to help you land your perfect home. While having a realtor will help you through the process, there are some things that you need to know before you even look at your first open house.

Know where to look

West Edmonton homes for sale can vary from smaller, single family dwellings to larger, sprawling estates. For first time home buyers, it can be difficult to even know where to begin within this market. An Edmonton realtor is sure to help you begin your search and find you that perfect home. One of the first things that you need to know is that you need to keep an open mind about what it is you want in your home. While having that vision of the perfect home in your mind is great when you being looking, it can be important that you also take the time to understand that there are homes out there that have things you might not have thought about. Perhaps you dream of having a wide open kitchen with a huge island but in your search, you find yourself attracted to a half wall that a home has in its kitchen. You can find things in homes that you never thought you wanted or that you never thought you might have enjoyed.

Do some renovations

Another thing that you should keep in mind when it comes to purchasing your first home is that there can be benefits to purchasing a home that needs a little improvement. Building off of our last point, there can be merits to purchasing a home that you do not believe is your perfect dream home. Perhaps you fell in love with the features of one home, but it needs updating. That can be amazing as you can then work to update that home to have everything that you want in it. There is something to be said about customizing a home to your tastes and not just living in a home that you buy. It allows you to feel more attached and to personalize the home into something that feels yours.

You don’t have to live in your first home forever

One final thing to think about when purchasing your first home is that it doesn’t have to be your “forever home.” If you are a young couple, then it can be worth it to look into a one or possibly two bedroom home when you are just starting. However, once you have settled in, you may find yourself thinking of starting a family. You may decide that your current home doesn’t have the space that you need to raise that family and decide that you need to find a larger home.v

The housing prices in and around Vancouver have surpassed expected peaks and many are not sure if there is a ceiling in sight.  The cost of an average detached home within the Vancouver city limits has reached over $1.5 million – the highest that the area has ever seen to date.  On average, homes in the Greater Vancouver Area have reached numbers close to a million dollars.  The number of properties sold in the area (as of February) rose, and the price of an average home is constantly rising unpredictably in sharp spikes. Mayor Gregor Robertson has shown great concern over the housing situation and has committed time and energy to a federal and provincial team who are working hard to discover exactly which factors are the causes of the consistently rising real estate prices.  

In an attempt to hold off the ever-increasing rise in housing prices, Vancouver recently imposed a 15% land transfer tax on foreign buyers as well as a more difficult qualification process for all buyers. These tougher qualifications have been brought into play to ensure that potential homeowners can manage their mortgage payments should interest rates go up.   The Canada Revenue Agency is auditing tax forms in the hopes of limiting foreign buyers by making sure that those claiming the principal residence tax exemption are, in fact, living in the residence and not using the home as a rental property or 2nd home.   

The outlook for most experts shows a continued rise in Vancouver’s housing prices, and the rapid rate is also expected to stay consistent.  With a limited number of homes on the market and available to hopeful buyers, the competition is fierce.  Combine that with low interest rates that the population has enjoyed and a steady stream of immigration, and you have a case of demand far exceeding the supply.  The situation could be helped by an increase in available homes for sale or with a surge in new home development; something which has been slow.  A significant increase in new home development is not guaranteed this year, and there is an increasing popularity for the suggestion that rules and regulations be eased so that new development becomes lucrative again for builders.  This may be a more important factor over attempting to restrict any purchases by foreign buyers.  Reconsidering land-use designations to allow several different varieties of types of homes, and smoothing the development approvals and permit processes would alleviate the restrictions that builders often face.

The dream of home ownership will vanish for many in light of the inflated prices on even the most average sized homes.  Families see their adult children staying longer in the family home and couples starting their lives together will most often be renting their accommodations and perhaps holding off for years in the hopes of being able to someday afford even a small starter home.  Only time will tell what the future holds for Vancouver’s rising housing market.

A REALTOR’s Commitment to High Standards of Professional Conduct Works to the Advantage of Buyers and Sellers Alike.
The internet has ushered in an age of readily accessible information and with dozens of discount self-serve brokerages popping up each day, you can easily be swayed into thinking handling the sale of real estate is a simple affair. BUT, remember its been proved that up to 80% of all For Sale By Owners eventually turn to the services of a real estate professional. And with good reason.

Licensed REALTOR‘s are professionally educated, and fully trained to guide you through the sales process with the least amount of risk possible. They are monitored and guided by their brokers and governed by real estate law. They are sworn to uphold to a strict code of ethics and have access to vast array of resources, including their strong network of real-estate-related professionals with whom they have worked with personally, often for decades. Successful transactions and happy clients are key to their livelihood and reputation. It is their business to know exactly what’s going on in their market, as well as in their community.

I have been in the business long enough to have been involved in the sales process of the same home more than once – I can anticipate issues with underground oil tanks, previously problematic roofing, zoning issues, flood zones and other un-disclosed situations which may affect the true value of your property. I have a database of experienced professionals to offer solutions that I have personally worked with in the past and have networks of affiliates to facilitate the sales process.
When Buying Your Property, I Will Help You With the Following:

Maximizing your Purchasing Power:
I will help you get the best possible property for your budget, notifying you of the newest well-priced properties on the market so that you don’t miss out on a great opportunity. I can put you in contact with the best lenders, who are up-to-date with the latest financing options and programs. I will also help you understand and be aware of the hidden costs associated with purchasing.

Home Search Resources:
REALTOR’s are the first to hear about properties as they come onto the market. Additionally, sometimes the perfect property for you is available but not actively advertised in the market. REALTOR’s have extensive networks of resources and knowledge that will assist you in finding the best property on the market. A real estate agent’s business is to know what’s going on in the market, have the network, resources and insider knowledge to assist you in finding the best property for you.

Objective Information:
I will provide you with valuable community information on utilities, zoning, schools, etc. They will help you determine whether the property will provide the right environment you want as a home or investment and will advise you on its resale value when you are ready to sell in the future. I understand the history of the property and the neighbourhood and can give you an honest assessment of what’s going on in the market and how this will affect your property as an investment. Depending on the area and property, this could include inspections for pests, mould, structural deficiencies, roof condition, septic or oil tanks and well tests, just to name a few. I can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. They will also assist you regarding the title of the property, which is the document indicates ownership of property, financial liens, legal issues, and details rights of access/easements. This knowledge can help you resolve issues that might cause problems at a later date.

Negotiating Skills:
Every deal requires patient and precise negotiating on such important factors as price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. As your agent I can advise you as to which investigations and inspections are recommended or required.

Contract Knowledge:
It is crucial to have a full understanding of the contract that you are entering into! I will explain the details, wording and meaning of these legal documents, and keep you aware of the deadlines, deposits, paperwork, etc. involved in the Contract of Purchase and Sale. I will make sure that your needs are protected, both now and in the future, and ensure that you get what you are paying for. Above all, I will guide you through the entire purchasing and closing process and make sure everything flows together smoothly.

When Selling Your Property, a I Will Help You With the Following:

Market Evaluation:
My business is to know what’s going on in the real estate market in your neighbourhood, and will provide you with accurate and up-to-date information on pricing and market activity, including details on the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.

Advertising:
I have the right tools and know-how to get the word out to other real estate agents and to qualified buyers. I will help you with staging your property so that it shows in the best possible light. I can also recommend repairs or cosmetic work that may increase your property’s selling price and saleability. I can take advantage of the Multiple Listing Service, as well as their own websites and buyer networks. I can host open houses for other REALTOR’s and homebuyers, and will assist in coordinating appointments to show your home to pre-screened, qualified buyers and accompany prospects through your home to point out the properties strengths, answer questions and to ensure the security of your home.

Contract Negotiation:
I will objectively evaluate every buyer’s offer without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing –a lot of possible pitfalls. I can help you write a legally binding, win-win agreement that will be more likely to make it through the process and protect you in the long run.

Closing Process:
Between the initial offer and the final closing (or settlement), questions and issues may arise. For example, unexpected repairs, financing snags or an issue in the title is discovered. The necessary paperwork alone is overwhelming for most sellers. I’m the best person to objectively help you resolve these issues and move the transaction to completion.

Don’t Be Fooled By Low Fees:
REALTOR’s and their related Brokers charge various fees for services. Some Companies will claim to offer the same services as their competitor for a lower fee. Make sure before you list with any company that you get a written marketing plan that details all of the services provided. The more exposure your property receives the more likely you are to achieve a higher selling price.
Can You Do It by Yourself?

Although it is true that a few people have been able to stick a For Sale sign on their lawn and sell it themselves in a reasonable amount of time, the level of effort, expense and hassle often isn’t broadcast. For both buyers and sellers, stop and think about how much you trust the honesty, abilities and legal knowledge of the layperson with whom you are about to enter into one of the most important transactions of your life. As with any profession if you decide to take on the role yourself, you must fully comprehend the potential legal and financial risks, as well as weigh up the potential savings against the extra work and time.

Over the years that you’ve owned laptops, smartphones, tablets, speakers, and other portable electronic devices, you have probably accumulated a number of electrical adapters, and may even have kept them for potential use on a replacement device. This can be dangerous. Most portable devices have specific types of batteries that require very specific power input. Incompatible pairings can cause severe damage, as well as render a device’s warranty null and void. Each adapter delivers a precise amount of electricity from a standard 120 volt AC wall plug by calibrating the electricity so it is compatible with the lower voltage DC batteries within the specified device it is designed to power. An improper match could cause hazardous overheating or frustrating underperformance, compromising delicate circuitry. For this reason, it’s risky to presume that older adapters with matching fittings are actually safe for your device, especially if you’re travelling to countries with different electrical systems. Fortunately, newer adapters that use USB connections tend to have a broader range of compatibility, although you should always follow manufacturers’ guidelines before usage.