August 31, 2011

Alberta buyers benefit as B.C. axes HST

Filed under: Canadian Economy,Real Estate Market,Vancouver — Richard Morrison @ 12:21 pm

B.C.’s harmonized sales tax has been a “disaster” for the recreational property market, critics say, and scrapping it will open the doors for buyers, many from Alberta, who have been sitting on the sidelines.

“It’s going to be well received. It’s going to be huge because the HST has been a real detriment to recreational properties, developed lots on lakes, secondary houses, people coming out and buying a place on the ski hill, a condo,” said Philip Jones, of Royal LePage East Kootenay Realty.

“It’s had a very staggering impact on our recreational market in the Okanagan and the Kootenays.”

In a referendum, the people of British Columbia voted to scrap the HST, which had combined the five per cent federal GST and the seven per cent provincial sales tax.

The provincial tax hadn’t applied before to recreational property sales so the HST effectively raised the tax rate from five per cent to 12 per cent.

Jones said about 80 per cent of the Kootenay region’s recreational market is from Alberta.

“A large pool of buyers have been just waiting for this,” said Jones. “They’ve been looking but they’re not buying. One of my realtors alone has got 22 people that are waiting to buy something that does not have HST on it. They’re all Alberta buyers. Alberta by far is our biggest market and that goes for the Okanagan too.

“For businesses, the HST’s a good tax. But for recreational property, it’s a disaster.”

Eric Watson, vice-president of real estate for Bellstar Hotels and Resorts, said the move should be a positive one for the industry but there’s need for clarity on the issue.

“But assuming everything is the way it was before, it’s definitely going be a big plus,” he said.

“We have a project in Kokanee Springs where it certainly will be a big plus.”

Don Campbell, president of the real estate Investment Network, said the scrapping of the HST will increase the demand in the condo market.

“When the HST came on it actually put a bit of a cap on demand,” said Campbell. “You’ll start to see new homebuilding increase over the next six to 12 months.

“But my concern would be that it will take some of the demand off the resale market because now people who are moving to resale and doing renos will now be able to go back into the new market.”

Campbell said the HST is not a big financial deal but more of a psychological one as people feel they have more money in their pockets.

“The psychology of the HST coming off new property is a big difference,” he said.

“I think what you’ll find on the recreational property is that there hasn’t really been that much of a negative response. It slowed down just because the economy has slowed down a little bit, but the HST itself didn’t really have a major effect on that because it really was only on the new-build property. During this downturn, there hasn’t been a whole lot of new-build being built in the recreational world.”

Mike Bucci, of vancouver-based developer Bucci Developments Ltd., said transitioning from one tax regime to another creates significant confusion in the purchasing process.

“We experienced a lot of confusion when we went to the HST. Nobody really understood how it was going to get rolled out and what the rebates were. And going back I think you’re going to see some of that confusion again. We have 18 to 24 months to transition back and there will be a lot of questions in buyers’ minds over what taxes and rebates they’d be paying during that period,” said Bucci.

“It doesn’t help. And the recreation property market needs all the help it can get right now.”

 

Source: Mario Toneguzzi, Calgary Herald

August 23, 2011

Canadian real estate association adjusts its outlook, home sales forecast to rise

Filed under: Canadian Economy,Real Estate Market,Vancouver — Richard Morrison @ 9:38 am

Stable interest rates and rising prices in vancouver have proved to be positive factors for Canada’s housing industry, according to the Canadian real estate Association, which had forecast declining sales but now expects them to increase in 2011.

The optimistic national forecast comes despite the fact that both sales and sale prices dropped in July from the previous month – sales edged down by 0.1 per cent, and the national average price of a home during the month was $361,181 – the lowest it’s been since January, CREA said, though it’s 9.3 per cent higher than in July 2010.

While year-to-date sales are 1.6 per cent below last year’s figures, transactions are up 12.3 per cent from the same month last year.

“This increase reflects weakened activity in July 2010, when levels for the month reached their lowest point since 2002,” CREA said.

The Ottawa-based industry group had been forecasting a slowdown, but now says there will be 450,800 sales in 2011 – a one per cent increase from a year ago. It says rising prices in vancouver have helped push its forecast for the average sale price in 2011 to $363,500, a 7.2 per cent increase from a year ago.

Randi Masters, pastpresident of the Victoria real estate Association, does not expect local prices to rise. “I think they are going to hold steady.”

Greater Victoria inventory rose 5,094 in July, up 14 per cent from the same month last year, the board said.

“Sellers have to realistically price. They have to be competitive because buyers have a lot to look at right now,” Masters said.

Greater Victoria sales dropped to 523 in July from 618 in June, but were close to the 527 sales seen in July 2010. Overall housing prices slipped as well.

Dan Hagel, a Victoria developer and contractor who also holds a real-estate licence, said this is a buyer’s market. “The HST has been an absolute kick in the teeth.”

Ballots deciding the fate of B.C.’s harmonized sales tax are still being counted, but the uncertainty, along with concerns about the global economy, is affecting the market, he said.

Hagel has sold one of two townhouses his company built in James Bay, with two still to find buyers. Today’s market is “difficult,” he said.

However, Hagel is pragmatic and optimistic, saying the market has historically performed in cycles.

CREA expects national sales to fall less than one per cent in 2012 while prices will flatten next year.

 

Source: Post Media News and The Victoria Colonist

August 22, 2011

Multi-family residential home sales increase 85% in second quarter

Filed under: Real Estate Market,Vancouver — Richard Morrison @ 11:42 am

Sales of new multi-family residential units in the Lower Mainland in the second quarter of 2011 were up 85 per cent over the same period last year and 91 per cent from the first quarter of 2011, says a report from the Colliers real estate company.

The report, which noted 4,839 new multi-family units sold during the quarter, said local and Asian investors were active in the market, absorbing “signature” highrise projects in vancouver, Burnaby and richmond.

Meantime, “end users were active at new, value-priced, low-rise offerings and town house projects in New Westminster, Burnaby, coquitlam and South Surrey,” said MarketShare.

“The quarterly results surpassed the best quarter of last year and bring year-to-date sales to 7,366 units or 82 per cent of the total volume of sales in 2010,” said Scott Brown, Collier International’s senior vice-president of residential project marketing and sales.

“We are expecting the momentum to continue through the fourth quarter after the expected summer lull, provided more recent concerns regarding the U.S. economy do not negatively impact consumer confidence in a significant way.”

In the second quarter, 56 per cent of sales of new multi-family homes were at highrise projects, with 27 per cent and 17 per cent at low-rise and town house projects, respectively.

Source: vancouver Sun

Case for freehold townhouses- won’t happen until the Land and Title Act is changed

Filed under: Vancouver — Richard Morrison @ 11:38 am

B.C.’s land title laws are standing in the way of vancouver welcoming a form of housing that could add to diversity in the city and help to improve housing affordability.

Throughout Eastern Canada, the U.S. and much of the rest of the world, row townhouses owned as freehold property have existed for centuries.

Victoria has been asked to change the law that is preventing vancouver from seeing this form of housing become commonplace here, but the provincial government is slow in responding.

Freehold or fee-simple-owned attached zero-lot-line row houses are a common form of inner-city and suburban housing both new and old – almost everywhere except vancouver. This form of housing uses land more efficiently than probably any other form of ground-oriented housing – housing in a form that has direct access from the street.

Typically, a row townhouse is a twoor three-storey single-family home attached to other townhouses. It is usually built along a street with its own front and rear entries. In most other places in the world, the townhouses are built so that owners can buy the individual unit. They typically own the entire footprint, including any front or rear yard.

We’ve seen row houses in vancouver, but with the exception of one experimental project, all are owned communally as condominium homes under B.C.’s Strata Property Act, rather than outright in a freehold form under the Land Title Act, like most detached housing.

The freehold form of ownership is often viewed as a superior form of ownership, as the homeowner feels he or she truly owns a piece of real estate from top to bottom, rather than owning a right to a limited defined area and then sharing in the ownership of all of the common property, like most condominium developments. Freehold ownership allows owners to determine how they use and maintain their own properties, often including yards, without the complexity of a governing strata corporation.

But these townhouses don’t exist in vancouver. That’s because B.C.’s Land Title Act is missing a crucial provision that allows adjoining neighbours to register an agreement on the property’s title that governs how they jointly deal with the common wall – or “party wall” – they share.

The late Art Cowie, who was a vancouver MLA, city councillor, Park Board commissioner and professional planner, worked tirelessly before his death more than a year and a half ago to make freehold row townhouses a reality in vancouver. He went out on a limb and assembled a couple of singlefamily lots on Cambie Street at 33rd Avenue and went about building three row townhouses to showcase this form of housing.

Before he could get final approval to start the project, the visionary Cowie ran into a problem. City lawyers weren’t prepared to allow the three units to be attached to each other. They would have to be built with a one-inch space between them, each with its own free-standing concrete firewall. Each unit had to be designed and built as an individual building, adding to the construction cost.

An arcane deficiency in the B.C. Land Title Act caused the city to require this convoluted approach to building row townhouses.

The act doesn’t provide for a legal agreement, spelling out the maintenance and use of the party wall, to be registered as a “positive covenant” on the property’s title to ensure in perpetuity that current and future owners are obligated by the party wall agreement. “Negative covenants” can be registered on title, but positive covenants can only be registered if they are registered in the name of a municipality, which can then, in theory, enforce them. A positive covenant states on title what owners are required and obligated to do, such as maintaining a party wall and the wires and pipes that run through it. A negative covenant is a statement on title saying what owners can’t do.

Over the past few years, a few other B.C. municipalities have allowed true attached freehold row townhouses to be built. The municipalities have become signatories to special positive covenants to bring the party wall agreement into effect. These covenants have been registered in favour of the municipality. As far as I know, none of those covenants has yet been tested in a dispute between owners where the municipalities, as a party to the covenant, would be stuck in the middle of that dispute.

The city of vancouver has refused to follow this cumbersome workaround deficiency in the Land Title Act. First, such a process likely exposes the city to some liability in enforcing a positive covenant.

This process also requires a whole new bureaucracy to administer party wall agreements for what could potentially be hundreds if not thousands of these homes, if freehold row townhouses are a housing form made available in vancouver.

Instead, the city has requested that the provincial government amend the Land Title Act to include a provision that allows owners to register positive covenants for party wall agreements that will forever be attached to the title of the land. Alberta, Saskatchewan and Manitoba already have such legislation.

The city originally made this request to the province in 2008.

Last week, a spokesperson for the Ministry of Forests, Lands and Natural Resource Operations told me that the ministry has been working with the city of vancouver and other stakeholders to understand the issues related to freehold row housing and to ensure an appropriate legal and policy framework is in place to support interested municipalities.

The spokesperson said discussions are still in a “preliminary consultation phase”, which will continue into early fall 2011.

Preliminary consultation? That’s slow progress after three years. If vancouver is ever going to see this form of housing that’s ubiquitous in many other cities, things are going to have to move a little faster.

 

Source: Bob Ransford, vancouver Sun

August 8, 2011

BC property market rekindled by Albertans

Filed under: Real Estate Market — Richard Morrison @ 9:30 am

Albertans are expected to provide much of the fuel that will fire up the smouldering recreation property market in B.C., including the Comox region, says a pair of surveys on the future of the recreation property sector.

“Empty nesters, many of them from Alberta, are behind the push for recreational product this year — and they are a welcome sight after a two-year absence,” says Re/Max in its annual Recreation Property Report.

The strengthening oil sector has also brought Albertans back into the mix, the report adds, driving demand for both local and coastal B.C. properties — and 2011 could be the turning point for this sector of the province’s housing sector.

In the other survey, in which rareEarth Project Marketing polled 1,000 people earlier this year, 61 per cent of potential vacation home buyers would consider vancouver Island as a destination — higher than both the Okanagan and the United States.

“The research also shows the Alberta market is strong and they desire vancouver Island real estate with full ownership,” says rareEarth president James Askew. The company is overseeing sales for the Comox Bay Marina and Residences by Howard Land Group.

Its survey also showed that 53 per cent of Alberta respondents who own their primary residence are considering purchasing recreational property on vancouver Island.

As well, 80 per cent of Albertans who own recreational property are considering the purchase of additional recreational property — and 56 per cent want full ownership.

The Re/Max report says that in B.C. the recreation property prices are at or near bottom.

“Astute purchasers — many of whom were scooping up product south of the border — are starting to cherry-pick in markets where oceanfront prices are down from peak, pre-recession levels,” it says.

Softer values have driven up sales in Western Canada, with transactions up or on par in 58 per cent of markets, well ahead of the national average.

“Opportunities that haven’t been seen in years are now presenting themselves, especially on the West Coast,” says Elton Ash, regional executive vice-president of Re/Max of Western Canada. “Prices are down as much as 20 per cent from peak levels reported in 2006-2007, bringing ownership within reach to many potential purchasers.”

An interesting aspect of the Re/Max report talks about Americans who have recreation property in Canada.

Many of them are cashing out. And for many, the timing couldn’t be better.

The majority purchased when the Canadian dollar fell to 65 cents against the U.S. dollar — and they are now taking advantage of the above-par loonie and price appreciation.

 

Source: The Calgary Herald

July Update: Active home sellers bring more variations to the Greater Vancouver housing market

Filed under: Real Estate Market,Vancouver — Richard Morrison @ 9:27 am

While the balance between home buyer and seller activity remains in an equilibrium range in the Greater vancouver housing market, last month’s home sale total was below the 10-year average for July.

The real estate Board of Greater vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,571 in July, a 14 per cent increase compared to the 2,255 sales in July 2010 and a 21.2 per cent decline compared to the 3,262 sales in June 2011.

“We’re seeing less multiple offer situations in the market today compared to the last few months, but our members tell us that homes priced competitively continue to sell at a relatively swift pace,” Rosario Setticasi, REBGV president said. “It’s taking, on average, 41 days to sell a property in the region, which is unchanged from June of this year.”

New listings for detached, attached and apartment properties in Greater vancouver totalled 5,097 in July. This represents a 23.2 per cent increase compared to July 2010 when 4,138 properties were listed for sale on the MLS® and a 12 per cent decline compared to the 5,793 new listings reported in June 2011.

Last month’s new listing total was 8.6 per cent higher than the 10-year average for July, while residential sales were 17.3 per cent below the ten-year average for sales in July.

At 15,226, the total number of residential property listings on the MLS® increased 0.8 per cent in July compared to last month and declined 7.3 per cent from this time last year.

“The number of homes listed for sale in the region has increased each month since the start of the year, which is giving buyers more selection to choose between, and more time to make decisions”, Rosario Setticasi, REBGV president said.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater vancouver over the last 12 months has increased 9.2 per cent to $630,251 in July 2011; it was $577,074 in July 2010.

Sales of detached properties on the MLS® in July 2011 reached 1,099, an increase of 21 per cent over the 908 detached sales recorded in July 2010, and an 31.9 per cent decrease over the 1,614 units sold in July 2009. The benchmark price for detached properties increased 13.3 per cent after July 2010 to $898,886.

Sales of apartment properties reached 1,040 in July 2011, a 6.2 per cent increase compared to the 979 sales in July 2010, and a decrease of 39.1 per cent compared to the 1,708 sales in July 2009. The benchmark price of an apartment property increased 4.5 per cent over July 2010 to $405,306.

Attached property sales in July 2011 totalled 432, a 17.4 per cent increase compared to the 368 sales in July 2010, and a 45.5 per cent decrease compared to the 792 attached properties sold in July 2009. The benchmark price of an attached unit increased 6.9 per cent between July 2010 and 2011 to $524,909 between July 2010 and 2011 to $524,909.

 

Source: real estate Board of Greater vancouver

August 4, 2011

Lower Mainland housing market pushed into balance by home sellers

Filed under: Real Estate Market,Vancouver — Richard Morrison @ 12:49 pm

Lower Mainland home sellers in July continued to put properties on the market at a pace that helped keep the region’s real estate markets in better balance, the local real estate board has reported.

The region saw 2,571 property sales through the Multiple Listing Service in July, a 14-per-cent increase from the same month a year ago, but that was compared with 5,097 new listings put up for sale, which was up 23 per cent compared with July 2010.

Metro vancouver’s total inventory of listings stood at 15,226 in July, which was 7.3 per cent below the pool of home for sales at the same point of last year.

And the benchmark price for detached homes, an average of typical homes sold in July, hit $898,886 in July, 9.2 per cent above the benchmark of July 2010, but down slightly from June’s benchmark of $901,680.

“We’re seeing less multiple offer situations in the market today compared to the last few months, but our members tell us that homes priced competitively continue to sell at a relatively swift pace,” Rosario Setticasi, president of the real estate Board of Greater vancouver said in a news release.

The vancouver-east-fraser-homes/” >fraser Valley was also more active on the sellers side in July, the region’s board reported, with 1,322 MLS sales compared with 2,951 new listings.

July’s sales represented a 20-per-cent increase from the same month a year ago, but the rise in listings was almost 25 per cent.

“Last month, we were busier listing rather than selling properties, which is good news for prospective buyers,” Sukh Sidhu, president of the vancouver-east-fraser-homes/” >fraser Valley real estate Board said in a news release.

And across the vancouver-east-fraser-homes/” >fraser Valley the benchmark price for a detached home hit $534,042 in July, up 4.6 per cent from the same month a year ago.

 

Source: Derrick Penner, vancouver Sun

Homes in Shaughnessy ten times as expensive than homes in Guildford

Filed under: Real Estate Market,Vancouver — Richard Morrison @ 12:46 pm

homes in Shaughnessy are, on average, 10 times more expensive than those in Guildford, according to census data.

The data, based on the 2006 census, shows residents in Shaughnessy — the most expensive neighbourhood for real estate in the region — reported the average value of their dwelling as $1.7 million.

In contrast, in the neighbourhood with the cheapest homes — a part of Guildford in Surrey — residents on average reported the value of their home at just over $160,000.

The data are based on a question on the census asking residents how much they think their home would sell for. It doesn’t account for the mix of single-family homes or condos in each neighbourhood.

The average home price in Metro vancouver, according to the census, was $520,937.

Overall, the data shows the most expensive neighbourhoods to live in are vancouver’s west side, the north shore and south Surrey.

The least expensive are north Surrey, central Langley and New Westminster.

To see how your neighbourhood compares, you can check out an interactive version of this map, and many others, at vancouversun.com/vanmap/.

The data used to create the maps was provided to The vancouver Sun by Statistics Canada (Census Tract Profiles, 2006 Census, Catalogue number 92-597-X).

 

Source: Chad Skelton, vancouver Sun

Looking for an affordable home “less dire than at first glance”

Filed under: Real Estate Market,Vancouver — Richard Morrison @ 12:44 pm

A Conference Board of Canada senior economist has suggested there are affordable deals in Metro vancouver’s expensive housing market, but is that the case?

There are, if you’re willing to be flexible.

June real estate numbers revealed a wide discrepancy in benchmark prices (the cost of a typical home) throughout the region, with significant savings outside the central core.

Two towns that stood out as potentially good deals for buyers seeking affordable single detached homes were: to the north, Squamish – just 30 minutes to Whistler and 45 to 50 minutes to downtown vancouver on a new four-lane highway – at $508,000; and, to the east, Mission – the easternmost station for the popular West Coast Express commuter train – at $360,000.

In between the two towns, prices were generally higher, with town houses and condos considerably cheaper.

“I definitely think there is [affordable product],” Central 1 Credit Union economist Bryan Yu said in an interview Wednesday about the matter. “Detached homes in certain areas might be out of reach, but if [buyers] are willing to go east or look at different product types, it’s likely they could find product that meets their needs. It’s all about making compromises. If a detached home is too expensive, they can go to a condo or a townhome.”

In an op-ed from a Conference Board report published in The vancouver Sun Tuesday, senior economist Robin Wiebe noted that the average resale price in Metro vancouver was up more than 20 per cent from a year earlier in both May and June, the latest in a six-month string of double-digit hikes, and well above the six-per-cent long-term trend of price growth.

But he said the situation facing homebuyers seems “less dire than at first glance,” with vancouver’s average resale price skewed upward by sales of expensive homes in pricier neighbourhoods and by a modest shift toward single-detached homes that carry higher price tags.

Wiebe – who concluded that the growing belief vancouver has a housing bubble should perhaps be reconsidered – said that for those on tighter budgets market conditions in all price ranges below $500,000, which includes many condos and townhouses, have shifted in favour of purchasers.

He said that while vancouver’s market is certainly top-heavy, “those seeking shelter, both physically and from high prices, can still find relatively affordable units and decent bargaining conditions if they are careful, knowledgeable, flexible and ready to shop around.

Wiebe added: “Savvy shoppers can still do relatively well in vancouver by searching for the right unit in the right location, which after all, is the whole mantra of real estate.”

The conference board report also noted that in vancouver, while annual gains remain large, price growth decelerated for the second straight month in June.

In June’s housing index by the real estate Board of Greater vancouver, the benchmark price for all single detached homes in Metro vancouver was $902,000, with much higher prices in areas like West vancouver and the west side of vancouver.

However, the four cheapest areas for single detached homes were in Maple Ridge ($450,000), the Sunshine Coast ($403,000), Pitt Meadows ($540,000) and Squamish.

Besides Mission, the lowest prices for detached homes in the vancouver-east-fraser-homes/” >fraser Valley region were Abbotsford at $420,000, Langley at $524,000, and Surrey North at $511,000.

Meanwhile home resale prices in Canada notched their biggest monthly rise in May since last July, according to the Teranet-National Bank Composite House Price Index released on Wednesday.

The index, which measures price changes for repeat sales of single-family homes in six metropolitan areas, showed overall prices were up 1.3 per cent in May from April, the second straight monthly gain of one per cent or more. It was also the sixth straight monthly gain.

vancouver and Toronto, already expensive markets, were the pricegain leaders, up 1.6 per cent and 1.7 per cent, respectively.

The vancouver market was especially heated in the spring as buyers tried to get in ahead of the implementation of tougher mortgage rules in mid-March.

Time lags between the actual home sales and their entry into public land registries may account for the large gains in April and May after the mortgage rules were already in effect, the report said.

 

Source: Brian Morton, vancouver Sun

Stage Setting- simple tricks to help with the sale of your home

Filed under: Home Design — Richard Morrison @ 12:42 pm

When Dana Smithers was preparing a home for the real estate market, she told the owner that his valued collection of samurai swords must come down from the walls.

“That was gruelling for him,” says Smithers of the elegant, if lethal, weapons.

However, if a property is to appeal to as many potential buyers as possible, any item deemed personal — from family photos and memorabilia to political or religious art, meaning anything that might distract, offend or provoke — must go temporarily into storage, Smithers insists.

According to the North vancouver-based pioneer of the relatively new home-staging business, the process of “depersonalizing” a home and “pre-packing” expressions of one’s personal life is key to selling the property for as much, and as quickly, as possible.

“Once you put your home up for sale, it’s a piece of merchandise,” says the staging teacher and author of books that include Start & Run a Home Staging Business, from Self-Counsel Press. “The biggest mistake home-sellers make is that they’re not able to look at their property objectively.”

Taking a no-nonsense look at your well lived-in home and then giving it an unemotional makeover — whether by doing it yourself or by paying a stager to provide part of all of the services — is what home staging is all about.

Susan Evans of Home Suite Home Staging in downtown vancouver says: “A lot of people think it’s just a fun job, but there’s a big business component, too.”

Evans charges $225 for an initial consultation of a standard-sized house. That will include a room-by-room assessment, measurements and photos, followed by a proposal and cost estimate for a full staging.

In Smithers’ experience, consultation for a one-bedroom apartment (excluding furniture or fixture rentals) will cost $500, while a day in a house would be about $1,000.

Some realtors include a basic $100 staging consultation fee in their service package.

It’s then up to the homeowner to decide if he or she wants to hire a stager. In the end, reports Smithers, staged homes sell 50 per cent faster, and for six to 13 per cent more than those that have not been prepared for the market.

In starting the process, Smithers asks: “Who is most likely to buy? A couple with children, or pets, a senior, or a young corporate person? Or someone who wants to flip the property?

“Look at what’s being sold in your neighbourhood, who’s bought, and for how much,” she advises. By understanding the potential buyer, you’re in a better position to decide how much time and money to spend on staging, and what’s required.

Professional stagers — experts in home-design trends — will tell you to make it as simple, uncluttered and open-spaced as possible.

The next step, says Smithers, is determining the primary function of each room. In one home Smithers staged, the room designed as a den had come to house a pet rabbit and lots of junk. She restored it to its primary purpose. In the same home, a computer and related paraphernalia were removed from the space intended for dining.

“Function is first,” says Smithers. “And then find a focal point — maybe a fireplace or a great view. The focal point is the first thing you want people to see when they walk in. You want them to say, ‘Wow, I love it.’”

The next step is to “de-clutter” and “depersonalize.” As a professional stager, says Smithers, “you have to be a psychologist — you have to be tactful. And the seller has to be on board (the process). Ninety-five per cent of sellers are. The other five per cent are not ready to detach (from their home).”

Almost all homes, and definitely those 10 years or older, must be repainted. “It’s about refreshing the home — and painting is the No. 1 thing that people can do,” Smithers says. Neutral colours are strongly recommended. Expect to pay three to five per cent of the asking price on improvements, she adds.

When a vancouver-west-kitsilano-homes/” >Kitsilano homeowner asked Susan Evans how best to stage his long-neglected heritage property on a limited budget, she advised him to paint the entire four-bedroom house. “This was what was going to give him the biggest impact,” she says.

Many homes need new flooring, with hardwood being the preferred option. And for every major purchase or service, says Smithers, get more than one quote. Check out several home-stagers before shelling out for an entire package. “Have them make a presentation. Get references. That’s really important.”

“Furniture placement is key,” Smithers continues. “We usually take out about half of the [owner’s] furniture — you only want the essential pieces in each room. The further the eye can travel the bigger the room looks. Most people like a modern, clean look.”

Often it’s necessary to rent basic, neutral furnishings. Fluff Design in East vancouver is among local firms that rent everything you need to temporarily furnish a home — from fashionable couches and tables to colourful bedding and lighting.

Flattering lighting then “sets the ambience — it’s where the emotions are,” Smithers says, pointing out that you can buy all types of lighting relatively inexpensively at home-décor and big-box outlets. “Look for what’s trendy and modern.”

Finally, the accenting accessories are added: the universally acceptable art, colourful cushions and maybe a handsome plant or vases with flowers.

When Evans was asked to stage a small mill-house in coquitlam, again on as little money as possible, she and her designer exposed several antique sconce lamps that had been hidden by furniture or overlooked.

By removing about half the furniture, including the TV, taking down the window coverings (a trademark action of Canadian Staging Professionals, with whom she trained), and uncoupling an antique cupboard (or hutch) from the chest of drawers on which it sat, then repositioning the lower piece, the house acquired a new charm and spaciousness.

Sometimes, a stager will create a small “setting” or vignette, Smithers says. For example, in a master bedroom they’ll cluster a table with a lamp and book, and a comfortable chair. “It makes you want to sit and read and snuggle up. It’s the power of suggestion.”

Similarly, Evans demonstrates that by placing a small antique table in an otherwise empty hallway and adding a few accessories, an overlooked niche can be brought to life.

In fact, a byproduct of home staging is counselling homeowners on how to live well, Smithers says. ”I’ve had women walk into the homes that we’ve done and cry. They wonder why they didn’t do it themselves. It’s all about the transformation.”

 

Source: The vancouver Sun

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