The Power of Niche Marketing - Clayton Park

One of the truly interesting elements of Real Estate Sales is the realm of marketing, and it is one that Sheila and I have truly become students of over the past few years. We have read a wide range of books, articles and websites in order to become better marketers, both for ourselves, and of course, for the homes that we are selling every day! One of the keys to marketing, we have realized, is that nothing can be everything to everybody, and therefore, Niche Marketing is one of the ways that we begun to focus our efforts in the Real Estate Industry.

What is the power of Niche Marketing? Well, it is quite simple. Basically, the power of Niche marketing is that it allows you to genuinely become an expert in one smaller, more carefully defined aspect of your business, allowing you to focus your efforts more precisely, and effectively on learning everything there is to know about your "niche". Sheila and I, for example, have long been targeting Clayton Park in our direct mail campaign, however, until recently, it has been only a portion of our overall marketing efforts. We have been looking at Clayton Park Real Estate recently, and noticed that there seems to be no one serving the needs of this community, as professionals who truly focus on knowing the neighbourhood inside and out. That has become our goal, and we are taking steps to establishing ourselves as the Clayton Park Realtors. So what does that do for us?

First, it allows us to really concentrate on getting to know Clayton Park - by improving the depth of our knowledge about the neighbourhood - rather than getting to know more neighbourhoods on a broad level. We can then understand who Clayton Park appeals to in terms of housing, allowing us to focus our marketing efforts for our listings to those people who would most likely be purchasers for the area. On the Flip side, for those who are thinking of buying in the area, we will certainly be better equipped to advise them on the advantages and disadvantages of living in Clayton Park, and whether or not the Clayton Park option is a good one for them.

Secondly, it allows us to form alliances with Local Businesses, and have them be confident that we are promoting the interests of the area. We believe that Clayton Park is a community that is progressive, open and inviting, and that the businesses that the area has fostered are among the best in the region, so we look forward to partnering with local Clayton Park businesses in the future.

Thirdly, and perhaps most importantly, by focusing our efforts on one area, such as Clayton Park, it allows us to become a total resource for all the residents of the Area. We will continue to develop our website, www.claytonparkhomes.ca, so that people can check in with us to find out everything from local soccer schedules, to movie schedules to just about anything you need to know about housing in the Clayton Park area. This way, we hope to become a one-stop shop, designed to make you living experience better in the area we hope to service.

In this way, by choosing and focusing on our niche, we feel that although we have narrowed the overall number of people we are like to be providing service too, the level of service we can now provide to our Clayton Park clients will far exceed anything they have come to be used to with Realtors in the past! Check out some of our ad in the Parkview News, the Real Estate book and of course at our website - www.claytonparkhomes.ca to learn more about Marketing efforts!

Maintaining Your Home

Maintaining Your Home is a time consuming, labour intensive and occasionally expensive exercise, however, there are a few specific things that you can do on an annual basis that can help to prolong the more expensive elements of your home. Certainly, four of the most expensive elements of your home to try to replace are:

Your Roof
Your Windows
Your Furnace
Your Foundation

There are simple, and inexpensive things you can do on an annual basis that will go a long way towards maintaining and extending the life of these elements of your home. Have you ever seen a roof with Moss all over it? This is caused by too much shade and moisture on your shingles – almost always a result of trees growing over top of your roof. One of the simplest (and cheapest) things you can to do maintain the integrity of your roof shingles is to get up and cut back those tree limbs. This helps with two things actually – it keeps the constant shade off your roof, eliminating moss, and also helps to keep your gutters clean – no more constant climbing up to get the sludge and leaves out! Your Windows are the portals out to the world, but you must remember that they are also where the world comes in to you! A quick walk around your home to check the seals, and even resealing or recaulking your windows, on an annual basis will ensure that you don’t get wind and water into places that you don’t want! Your Furnace is definitely something that you probably don’t want to take apart and maintain yourself – it is much better left to the professionals, but having your furnace checked once a year is a good idea – it is much better to see your furnace repair person for an hour in the fall than it is to get that bill after seeing them for a whole day in February! You can check with your preferred home heating company, or log onto our website – www.HOMESINHRM.com - to find links to companies that will do annual checkups on your furnace. One more thing… Having your ducts cleaned? Probably not worth the money unless you have done some major Reno’s in the last year! Save your money for a nice dinner! Finally, your foundation – by far the major point of concern with home buyers. To maintain your foundation is really a matter of maintaining the lay of the land around your home. You should have a negative grade (ground should be sloping away) from all sides of your home. After a good rainfall, take a quick walk around your home and make sure that there are no puddles of water sitting around your home next to your foundation. If there is, you should attempt to build up the ground near the home at that point so that rainwater runs off safely away from the Foundation. In fact, almost every basement leak can be fixed by simply getting the water away from the foundation with better grading.

All of these solutions put together will cost you less than $200 a year to do, and could save you tens of thousands of Dollars in the long term!

Myths about Mortgage Brokers

Time for a New Mortgage or a New Home Purchase? Maybe a Refinance? Take a few moments to talk to a mortgage Broker. Take a look at the following misconceptions about Mortgage brokers and then read on to find out how they simply save you time and money!

“Mortgage Brokers cost too much” – It costs you nothing as a consumer to use a mortgage broker. They will search for the best mortgage for you, and their payment comes from the lending companies that eventually set up mortgages for you.

“I am already dealing with a bank” – Whether you have visited your bank or not, you owe it to yourself to visit a mortgage broker to see if they can save you money every month. Wouldn’t you rather have it in your pocket?

“Mortgage brokers don’t do Refinancing” – Wrong. They do, and they can save you money here too!

“I Don’t have a Down Payment/good enough credit/enough money to buy a house” – There are a number of options for home buyers today, including No down payment options, help with closing costs from certain mortgages, 35 year mortgages to lower monthly payments, and if you have bad credit, a good mortgage broker will work with you to reestablish good enough credit to get your mortgage and get into a new home”.

“I can’t get a mortgage because I am self-employed/commission salesperson etc” – Mortgage Brokers can help you more than anyone! With dozens of lenders available, you are not limited to just the big 5 banks when you deal through a mortgage broker.

Above all, a mortgage broker is there to help you find the best rate, and terms, for your mortgage. They will consider your situation and make recommendations to you on different mortgage options that you can consider.

Condo Ownership in Halifax

I’m Not Old enough for a Condo!

First of all, Don’t be Silly. Condo’s are certainly not just the domain of the elderly anymore… in fact, the majority of today’s new construction Condo projects are being marketed at the Younger, urban professional crowd – those who want the convenience of being downtown, and certainly aren’t looking to spend their weekends cleaning out the gutter or shoveling the walkway. So what are the important parts to know about owning a condo? Read on my friends…

Condo’s come in all shapes and sizes – They look like apartments, townhouses, semidetached homes and even detached homes. The word Condo refers to the group of homeowners (typically) who manage the PUBLIC or COMMUNAL elements of the property.

In an apartment building, this is things like the laundry room, the garage, the grounds, the outside walls, windows, roof, siding etc.

In a townhome or detached home concept, this typically means all the streets in the complex, the grounds at the front of each property, the communal grounds, the parking lots, maybe the driveways and all the exterior walls, roof etc.

Each Condo will typically have a Condo Corporation with a board of directors who decide how the collective monies (condo fees) will be spent to maintain the building(s) each year.

You will have to pay Condo Fees to these people on a Monthly Basis. What you get for your money is:

Maintenance of the exterior of the building
Maintenance of the grounds
Snow Shovelling
Lawn Mowing
SOMETIMES – Heat, Hot Water, Lights or any combination of these (check with your realtor BEFORE you purchase)
SOMETIMES – a parking space (often times this will cost extra)
The Right to complain to these people!

You Still own your piece of the PIE! Although there are some bylaws that govern the usage of the units within the condo (often relating to things like Pets, the removal of walls or major renovations etc), you still own the inside of your unit! You may Paint, decorate, refinish, retile what ever you wish without the permission of a landlord as you would have as a renter. In fact, it is a good idea because you still control the price that you will eventually sell this condo for!

Want to Know More about Condo’s? Go to www.HOMESINHRM.com and click on CONDO to learn more about condo projects that are planned for the HRM in the next couple of years.

Building vs. Buying

Have you thought that you might be interested in building your own home?

Think Long and Hard, because it can be a difficult, time consuming and stressful procedure, but can ultimately result in you having that house that fits you just perfectly! Here are a few things to think about before you put down a hefty deposit.

Do I Have enough time to devote to this? Even if you are going with a Turn-key Package, you should still plan on devoting a bit of time each evening to answering questions for your new home…. What kind of Cabinets do we want? Do we really want that retaining wall now that we’ve seen the Backyard? BE READY to be called upon a lot!

Do I have 4-6 months to wait before I am in to a Home? Delays Happen – It’s a fact - like Death and Taxes.

Do I Like the Creative Design Process? As the builder of a home, you will look, relook, and look again at your designs, and change walls here and there like you are playing cut and paste. This is all part of the process and will take you to where you ultimately want to end up – however, can be very tense as you go along.

Maybe I should act as my Own General Contractor? – This is a good way to save a few bucks, and add a few thousand headaches. I wouldn’t recommend it if this is your first build.

Can I find an existing home that will fit all of my needs? – Ultimately, the result to building your home is simple – you will end up with exactly what you are looking for, newly built, with a warranty, and it is yours and only yours.

There are Dozens of other questions you should ask yourself and be comfortable with the answers to before you think about building. Go to www.HOMESINHRM.com to find out what they are, and to find some answers!

Home Reno's

Just finishing up some reno's on my home right now, as I am getting ready to put it on the market this week. Nice home out in Lake Echo on the water, and we have done a few things to fix it up. We have completely re-done the bathroom downstairs, and added in a full bathroom upstairs (something we should have done long ago!). Enjoyed the renovation process, although it can get frustrating at times.

It is definitely one of those things where I feel the pressure to "walk the walk", as we are always telling people that they have to do certain things to get their house ready, it is important to me that I am doing the same things. Hopefully this will help expediate our sale!

Arsenic in Drinking Water?

Halifax Real Estate

As a result of what I have discoved is a bit of an underdiscussed element of buying or selling a home here in Nova Scotia that happens to be on Well Water.
Arsenic exists in a number of wells here in Nova Scotia, and there are certain areas in the province that have higher concentrations than others. I am going to try to answer some of the more common questions that come up about arsenic as it pertains to a real estate transaction.

1. Is arsenic in my water dangerous?

The simple answer to this is, over the long term - yes. According to the Governement of Nova Scotia research, high concentrations of arsenic can cause sickness, diarrhea and muscle pain. Even in lower levels, concentration over the long term can cause cancer.

2. What are the accepted levels of Arsenic according to the Government standards?

The limit has recently been reduced, and now stands at 10 micrograms per litre. This reduction happened early in 2006, so there are some homes in NS which will have met the guidelines prior to 2006 (which was 25 micrograms per litre), but don't meet them any more. If you are at all concerned about your levels, you should have your water tested. Feel free to contact us for water bottles, and for help with the sampling and testing process.

3. Can arsenic hurt me if I don't drink it?

Arsenic is not well absorbed by the skin, and as a result, there minimum exposure due to showering or bathing. However, you should avoid having the kids drink the bath water - although it wouldn't be a significant health risk if they aren't doing it consistently.

4. Can Arsenic be treated?

Arsenic can be treated, through 3 different methods right now. Reverse Osmosis is the most common method, and involves a filter system being set up and having the water being forced through a membrane. Ultimately, the water passes through, and all the contents (including arsenic) are left behind on the membrane. This can be installed either at the point of entry (ie. where the water comes into the house) or a the point of use (on a drinking water tap). The single taps are much cheaper than the systems that cover the entire home, however, you are then using that tap only for you drinking water.

The anion exchange and distillation units are generally used as point of entry systems, and involve the removal of arsenic by passing it over a resin bed in the case of the anion exchange and of course - boiling to complete steam in the case of distillation.

Note - Arsenic can not be taken out of water by simply bringing it to a boil. It is not the same as bacteria and other minerals. Arsenic can also not be treated by filtering it through a canister system (ie. Brita). It must be treated with a system specifically designed to remove it.

Have more questions? Contact us at www.homesinhrm.com - or visit the Department of Environment and Labour.

Feb 07 Halifax Market Update

Despite the cold temperatures of January setting in, the Local housing market has already started to heat up! Already in February, over $28 million dollars worth of real estate has sold in the Halifax Region. People want to know what is moving these days, so here are some ideas of what the hottest areas of the market are, in terms of location, housing type and price!
So Far, through February 1st of this year, the average sale price of a home here in Halifax Region, is $187,387, and it has taken approximately 111 days to sell. There have been a total of 426 property transactions here in the region, which includes home sales, condo sales, vacant land, multi-unit (income property) and commercial properties. The average price that these properties have been listed at was $194,145, which give us an average list/sale ratio of about 97% (otherwise put - homes have been selling for about 97% of what they were listed at).

To break it down in terms of type of housing, it is interesting that the average price for a Condo in Halifax Region has now outpaced the average price for a single family home. The average condo this year has sold for $206,623, and they have sold in an average of 99 days, while the average single family home has had a price tag of $197,965. This includes townhouses and semi’s however. The average detached home still remains slightly higher at $209,054.

The highest price home to have sold this year was listed at $679,900, with the lowest price being $39,600. In terms of Condo’s, the highest has gone for $449,900, with the lowest being $85,900.

In terms of areas that have been moving lately, Sackville and Timberlea remain quite busy this time of year. Highly concentrated military presence can probably be accounting for this, as we come into posting seasons.
The most new listings were seen in the Clayton Park, Fairmount, Rockingham region, with a number of new construction projects on the go in Royale Hemlocks, as well as a number of condos coming on in Clayton Park West. Fairview has slowed down in terms of turnover greatly, with January seeing only 3 new listings, and 3 total sales in the area (as compared to 99 listings and 30 sales in Clayton Park). Look for Fairview to quicken as we come into the spring months however.

Want to know how the activity has been in your area? Drop us a line at www.homesinhrm.com and we would be happy to give you a full report!

Halifax Real Estate Update

Halifax Real Estate

All Accounts of the Halifax Real Estate Market seem to agree that the seasonal slowdown has come early this year. This has meant that days on the market for most listings have extended - so if you are selling, prepare for a bit longer experience with your real estate agent than you would have had a few years ago. Yesterday saw 32 conditional sales in the Halifax Region, which is a solid, but unspectacular number. Remember, there are many things you can do to help your own sale. If you are starting to get anxious, there are little things you can do to make the house look better. Check out some of these Ideas, and then ask your real estate agent for an open house! That should get some traffic in to take a look at your work.

Matt Honsberger is a Licensed Real Estate Agent in Halifax, Nova Scotia, as well as a published author of a number of Real Estate Related Articles. He Also maintains the Website www.homesinhrm.com , where he always invites you to visit for more Real Estate Related info!

Investment Property in Halifax

Investment Properties in Halifax

Investing in Halifax Real Estate is a great Addition to any portfolio, but what is the best way to do it? There are a number of different options, and we will go through some of them here.

The first one, and the one that seems to get the most attention these days is the "Flip". With the emergence of shows like "The Big Flip", and "Flip This House", this Buy, Renovate and Resell strategy is the 'sexy' option for most real estate investors right now. However, there are a few things to consider before you go about this. The first thing to think about, of course, is where are you going to find the property that is priced well for the flip. There are a few options for investors - the first of which is to contact a good Real Estate Agent and have them scan all listings for you for any that are undervalued, priced as is, owned by the bank or foreclosure company, or any other good opportunities that might be on the market. Your Real Estate Agent is your best friend in this respect, as they will be very motivated to find you the best property, and will be very vigilant, if for no other reason than they know you will be reselling the property at some point pretty soon! When looking for Properties to Flip in Halifax, remember that the same rules apply as to your own home - the first three things you should look for is Location, Location, Location! Peninsular properties are often the easiest to resell, however, due to their age, can also require some pretty major work. Look for houses on popular streets, in good neighbourhoods. If you are buying into a worse neighbourhood, make sure you are factoring that into your price of purchase, and projected resale. The other Key factor to the Flip, is that you must ensure that you don't price yourself out of the neighbourhood. For Example, no matter how nice you make your Semi that you renovate in Timberlea, Don't expect to resell it for $250,000! Ensure that your renovations don't bring the price too high. Finally, Understand that the higher price bracket you try to flip, the longer it is going to take to resell, and the higher your materials costs will be. You need to consider all of this and much more before considering the flip.

The other main strategy that you can use to add to your investment portfolio in the real estate world is the rental property. Rental Properties offer two different qualities to your portfolio - income and capital gain. Your rental property can offer you a monthly income over and above your monthly outlay of expenses (mortgage, utilities and taxes). Even if your rental property doesn't offer you a huge (or any) monthly income, remember, you are also earning a capital gain on the property, as it is very likely to increase in value... just like your personal home is. All of this should be taken into consideration when deciding on a property. However, with Rental property, the most important consideration is always the Tenants that you have. A great looking, well maintained and located property can still be a nightmare if you get a bad set of tenants in their. It is important to do stringent interviews, check references and draft a strong lease agreement. You should also familiarize yourself with the Nova Scotia Tenancy Act. Finally, you need to decide what kind of rental property you are going to run. Do you want to rent to students? Young Professionals? High or Low Income? Each of these has distinct advantages, and you should discuss these with your real estate agent.

Like I say, in both of these cases, your real estate agent can be your best friend, and you should seek out one that you feel can be an informative and trusted advisor.

Halifax Real Estate: October 2006

Halifax Real Estate: October 2006

Lots of New Condo Developments going up in Halifax these days. Seems like the downtown landscape will be pretty different in the next 5-10 years. There is Armoury Square going up right on the commons. It is selling well, and they have begun construction already, so it will be ready to be moved into soon! Same is true with the development on Gladstone. Spice seems to be the development that is generating the most interest right now, with Loft/Studio units being planned. On the Dartmouth Side, there is Sheppards Island, which will be a development very different than any seen to this point in Dartmouth. Look for more developments to emerge In Dartmouth as well with the addition of Dartmouth crossing Shopping and Business Center into the mix. Be Sure to check out our Website if you would like to learn more about any of these developments!