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18 Waterford Heights North – MLS® Home for sale St. John’s West End

18 Waterford Heights North

18 Waterford Heights North
18 Waterford Heights North is located literally steps across the street from Bowring Park and situated on a mature 170ft deep lot with southern exposure.

This spacious multi levelled home has been extensively renovated in recent years. Enjoy gleaming cherry hardwood floors on an open concept main floor. Crown mouldings throughout most of the home. The kitchen has been renovated and includes a large centre island. There is a large master bedroom with new ensuite and walk-in closet. On the lower level there is a bright and spacious family room perfect for entertaining. The mud room/laundry room combination has an exterior door with access to a beautiful, big, mature garden with new privacy fence, patio, fire pit deck. Did we mention the large deep private lot with southern exposure across from Bowring Park?

MLS® 1154127
Asking Price: $479,900

BUILDING DETAILS
• Building Type: Single Family dwelling
• Stories: 1
• Construction Style: Detached
• ConstructionStyleSplitLevel: Sidesplit
• Bathrooms (Full): 1
• Bathrooms (Partial): 2
• Bedrooms: 3
• Floor Space: 2350 sqft
• Exterior: Vinyl siding
• Flooring: Hardwood, Laminate
• Heating Type: Baseboard heaters
• Heating Fuel: Electric
• Utility Sewer: Municipal sewage system
• Water: Municipal water
• Landscape Features: Landscaped

For additional information and photo visit the RE/MAX website

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6 Lessons Monopoly Can Teach You About buying a St. John’s home

monopoly

Some may love playing Monopoly and some may hate the game. Either way there are some valuable lessons we can all take away from the game. Here are 6 lessons Monopoly can teach you about buying a St. John’s home.

Patience

So your family has decided to play Monopoly? Refill your beverage, grab a snack and change into comfortable clothes. You’re going to be there a while.

LESSON: Buying real estate is a process. There’s pre-approval for a loan, interviewing agents, searching for homes, submitting an offer, maybe submitting another offer, the home inspection, the appraisal, and final loan processing before you get the keys. Needless to say, buying a home can take some time. Instead of getting frustrated, focus on all of the great reasons you decided buying a home was right for you. Staying in close communication with your agent throughout the process will help, too.

Neighborhood matters

Everyone starts the game with one corner in mind: Boardwalk and Park Place. The highly priced properties have the best returns on investments, and the players who snag them first tend to do well in the game.

LESSON: Location is often a major consideration in real life as well. Home values, your lifestyle and so much more are factors in your neighborhood choice. Work with your agent to learn all you can about the neighborhoods that pique your interest.

Keep an open mind

Baltic and Mediterranean Avenue have a bad reputation because they’re the cheapest properties on the board, but they also present opportunity. Add a few houses and hotels and your return could be bigger than the one on nearby Connecticut Avenue.

LESSON: Keep an open mind when looking to buy a home in St. John’s. An up-and-coming neighborhood may have appeal you didn’t see before, and more value for your budget.

Be prepared

You’re a Monopoly mogul! You have a handful of desirable properties and a steady stream of income from your houses and hotels. Then comes the Chance card: “Make general repairs on your property – for each house pay $25, for each hotel pay $100.”

LESSON: You never know what card you’re going to draw. But unlike Monopoly, the real world has home insurance available to help you prepare for unexpected repairs and disasters. A variety of plans, customizable to any budget, are available. Some homebuyers also opt for warranties covering potential appliance issues after move-in.

How to win a bidding war

Trading properties keeps Monopoly exciting. And there are no strict rules as to how a seller determines to accept an offer. Sibling rivalry, bribes involving candy or even business sense can play into a player’s decision.

LESSON: Sellers don’t always accept the highest offer. Writing a letter about why you fell in love with their home can sometimes sway their decision in your favor.

The importance of strategy

Monopoly is a game of strategy, but few players are inclined to study ways to win. What if you had a coach sitting next to you, advising how much to bid for a property, where to look next, and whether or not mortgaging a utility to buy Boardwalk is a smart idea? You would be unstoppable!

LESSON: Buying a home is an infrequent occurrence; for some it happens only once in a lifetime. Wouldn’t it be helpful to have someone on your side who was up-to-speed on laws for your state, knew which neighborhoods would best fit your lifestyle and offered to help you navigate a bidding war? That’s the value an experienced agent provides.

We’d love to help you when buying a home in the St. John’s real estate market. Contact us. We are ready when you are!

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St. John’s Real Estate Market Spring Report

St. John's Real estate Market Spring Report

Taking advantage of continued historically low interest rates, first-time buyers fueled sales in the St. John’s real estate market region in the first quarter of 2016. This buyer group makes up approximately 60 per cent of the regional housing market activity. Despite the lower price of oil, the Greater St. John’s Area has seen seven consecutive months of decreased inventory and average days on market also fell to 69 days in the first quarter of 2016 compared to 74 in 2015.

First time buyers

First time buyers in the St. John’s Metro Real Estate market are often young professionals with dual income and no children looking at properties priced between $250,000 and $300,000. The suburbs are currently a popular choice as these neighbourhoods offer new homes starting at $250,000 and often boast new schools and recreation facilities as well as shopping with only a 15 minute drive to the city. Typically, first-time buyers outgrow their first homes within five to ten years as their families and incomes grow.

Condo Market

With only five per cent of sales in the region attributed to condo sales, the condo market is relatively small. Demand is largely from first-time buyers looking to live in the heart of the city at an attractive price point or empty-nesters downsizing to free up equity and simplify their lives. Condos priced correctly and in the heart of the city see the most demand.

Luxury Market

A typical luxury property in the Greater St. John’s region starts at approximately $500,000 and buyers are often employed in the oil industry. While inventory has increased compared to last year, unique properties with a lot of amenities are still attracting interest. Luxury sales in the region are flat compared to last year.

For a list of homes for sale in St. John’s and surrounding areas

click-here-button

Average St. John’s House Prices July 2015

Average St. John’s House Prices for July 2015

Summer has finally arrived in St. John’s and so has the Summer St. John’s Real Estate market. Price have remained fairly stable.  Listings are up just 2% year to date and the number of sales in July popped to 13% to bring the year to date sales up 1% overall.  Even the expired listings are coming back to “normal” levels.  Like the weather, the real estate market had a slower start to the year but both thankfully have seemed to heat up.

 

July-3yr-activity

Total # of MLS Listings = 1498
Total # of Sales [July] = 583

Number of Active Listings for Sale in Newfoundland = 6163
Numbers are based on both residential and commercial listings/sales

Here is a break down by area for July:

St. John’s: Listings = 253 Sales = 120
Sales/Listings Ratio = 47%
St. John’s average house price: $322,545 for the month of July and the 12 month average $326,797

Mount Pearl: Listings = 39 Sales = 29
Sales/Listings Ratio = 74%
Mount Pearl Average house Price (12 month average): $297,212

Paradise: Listings = 69 Sales = 25
Sales/Listings Ratio = 36%
Paradise Average house Price (12 month average): $352,096

East Extern: Listings = 57 Sales = 20
Sales/Listings Ratio = 35%
East Extern Average house Price (12 month average): $385,644

Conception Bay South: Listings = 69 Sales = 44
Sales/Listings Ratio = 64%
CBS Average House Price (12 month average): $306,198

How does your home compare to the St. John’s average house price? For a free Market Assessment on your property please contact us.  We would be more then happy to assist you and show you how to get top dollar in this changing St. John’s Market.

For a Free Market Evaluation

CLICK HERE

 

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Closing Day Terminology You Should Know

You have an accepted offer on your new home, completed the home inspection and received your clean letter of finance.  Now what?

Sometimes it’s just a simple as waiting for the all important closing day to arrive.

Closing day should be an exciting time for you. After all, you’re moving into your new home! The last thing you need is to be confronted with something you don’t understand to make the day stressful.

So here is a quick list of common closing day terminology you should know.

Final Walkthrough – On closing day you and your REALTOR® will do one final walkthrough the house just to make sure it’s in the same condition as the day you wrote your offer. This is typically done first thing in the morning and the house will generally close closer to 5pm

Disbursements –  This is the allocation of funds to the appropriate parties, such as the Vendor. Your lawyer will take care of this for you.

Possession – This is the moment on closing day when you are legally able to take possession of your new home. It’s usually when your REALTOR® or lawyer hands you the keys.

Title –  This is a legal document that identifies the property and its owner.

Closing costs –  These are expenses, excluding the selling cost of the property, that are due on closing day, such as legal fees, reimbursement for pre-paid utilities, utility deposits, insurance, and taxes.

Closing adjustments –  These are expenses pre-paid by the seller that need to be reimbursed on closing. Typical examples of this would be your property taxes or oil remaining in an oil tank.

Remember this is your important day.  Relax and embrace the huge milestone in your life!

Having a good lawyer, mortgage professional and REALTOR® will help make the day go smoothly for you and your family.

Speaking of a good REALTOR®, you have three here at your disposal?

Contact us today for all your St. John’s Real Estate needs.

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Should You Worry About The St. John’s Real Estate Market Fluctuations?

You turn on the television and watch a news story about real estate house prices going down in St. John’s.  Then you receive a flyer in the mail about a property around the corner that sold for a decent price. Next you read a newspaper article about the St. John’s real estate market on the upswing again.

It’s a little like being on a roller-coaster ride!

Unfortunately the ride isn’t much fun if you’re thinking of buying or selling a home. In fact, it can be very confusing and frustrating. You just don’t know if “now” is the right time to make a move.

In reality, the housing market has been fluctuating for decades. Yet, people sell their homes every day throughout the St. John’s Metro Area for good prices. As well, just as many people get into their next dream homes affordably.

When you hear news of market fluctuations, there are two important things to consider.

First of all, a lot of media information about the housing market is national, or at least regionally for bigger cities. If the housing market is trending up or down nationally, remember that it doesn’t necessarily mean that the St. John’s real estate market is doing the same. This can even be relative to some subdivisions.  (ie Southlands or Clovelly etc)

In fact, it’s entirely possible for housing prices to be rising in your neighbourhood while they are falling nationally, and vice versa.

Secondly, if you’re selling a current property while buying another home, then the net effect of market fluctuations may cancel out.

Say, for example, that the St. John’s market is on the upswing. You’ll probably be able to sell your current home for a good price. However, the home you purchase will likely also be priced to reflect the upswing.

The same holds true when the market is down.

All that being said, there are some circumstances in which you need to consider market fluctuations when deciding whether or not to make a move. A good REALTOR® will help.

Looking for a good REALTOR®? You have three to choose from.  Give us a call and we’ll be happy to answer all your questions.

 

Average St. John’s House Prices April 2015

Average St. John’s House Prices for April 2015

What’s more exciting then last weeks HST budget hike or the Mayweather vs Pacquiao boxing match?  You guess it….a complete breakdown of the average St. John’s House Prices for April.

We are well into the spring market and things are taking off once again as they normally do this time of year. Listings and sales are up for the year as well as the average house prices.

Graph

 

 

Total # of MLS Listings = 1003
Total # of Sales [Apr] = 278

Number of Active Listings for Sale in Newfoundland = 4756
Numbers are based on both residential and commercial listings/sales

 

Here is a break down by area for April:

St. John’s: Listings = 205 Sales = 63
Sales/Listings Ratio = 31%
St. John’s average house price: $314,684 for the month of April and the 12 month average $339,200

Mount Pearl: Listings = 33 Sales = 15
Sales/Listings Ratio = 45%
Mount Pearl Average house Price (12 month average): $289,308

Paradise: Listings = 62 Sales = 21
Sales/Listings Ratio = 34%
Paradise Average house Price (12 month average): $353,028

East Extern: Listings = 66 Sales = 12
Sales/Listings Ratio = 18%
East Extern Average house Price (12 month average): $404,438

Conception Bay South: Listings = 39 Sales = 24
Sales/Listings Ratio = 62%
CBS Average House Price (12 month average): $304,457

How does your home compare to the St. John’s average house price? For a free Market Assessment on your property please contact us.  We would be more then happy to assist you and show you how to get top dollar in this changing St. John’s Market.

For a Free Market Evaluation

CLICK HERE

Total MLS listings are up 8% for the month and up 2% so far for the year. On the sales side of the coin, sales of houses in the St. John’s Real Estate Market area are up 5% for both the month and for the year.  Basically there has been no change in the sales for the past 2 months. 49% difference in expired listings last month compared to April 2014 and 37% increase in expired listings thus far for 2015.

St. John’s Real Estate Average House Prices for March 2015

 

St. John’s Average House Price for March 2015

Well the first quarter of 2015 is behind us and there hasn’t really been much movement with regards to the St. John’s Real Estate Average House Prices.  Typically we pick up in the spring time, so hopefully with the snow melting this once again holds true.  The media has been pumping a lot of negative about the real estate market and saying big words like “bubble” and “housing crash”.  I can not stress, this is far from the truth.  We are certainly not going to see any positive gains this year, but we certainly will not see huge negative numbers either.  There have been more homes over the 750k range sold thus far this year then all last year combined.  The St. John’s average house price will remain flat for 2015 and CMHC’s is predicting about the same for 2016.  st. john's real estate stats

Total # of MLS Listings = 942
Total # of Sales [Mar] = 318

Number of Active Listings for Sale in Newfoundland = 4491
Numbers are based on both residential and commercial listings/sales

Here is a break down by area for March:

St. John’s: Listings = 178 Sales = 72
Sales/Listings Ratio = 40%
St. John’s average house price: $304,884 for the month of March and the 12 month average $340,348

Mount Pearl: Listings = 30 Sales = 20
Sales/Listings Ratio = 67%
Mount Pearl Average house Price (12 month average): $290,855

Paradise: Listings = 34 Sales = 17
Sales/Listings Ratio = 50%
Paradise Average house Price (12 month average): $351,582

East Extern: Listings = 49 Sales = 24
Sales/Listings Ratio = 28%
East Extern Average house Price (12 month average): $406,325

Conception Bay South: Listings = 66 Sales = 14
Sales/Listings Ratio = 21%
CBS Average House Price (12 month average): $304,910

How does your home compare to the St. John’s average house price? For a free Market Assessment on your property please contact us.  We would be more then happy to assist you and show you how to get top dollar in this changing St. John’s Market.

For a Free Market Evaluation

CLICK HERE

Sales jumped 16% for the month of March and are up 5% so far in 2015.  As I mentioned in last months February real estate stats review we saw a flurry of activity towards the end of the month and this pop in sales was quite possible.  Total listings are exactly the same as this time last year (actually on par the past 2 years). Once again we are seeing huge numbers of listings expire. 53% difference in listings last month compared to March 2014 and 40% increase in expired listings for the first quarter of 2015.

St. John’s Real Estate Average House Prices February 2015

 

St. John’s Real Estate Average House Prices for February 2015

I normally do not track December and January real estate market statistics as I find they are a VERY inaccurate pulse of our current market. (as a snap shot in time) The St. John’s Real Estate Average House Prices for February 2015 are below and show a truer picture as we continue into the spring real estate market.st. john's real estate stats

Total # of MLS Listings = 834
Total # of Sales [Feb] = 218

Number of Active Listings for Sale in Newfoundland = 4422
Numbers are based on both residential and commercial listings/sales

Here is a break down by area for February:

St. John’s: Listings = 138 Sales = 54
Sales/Listings Ratio = 39%
Average sale price for a home in St. John’s: $340,547 for the month of February and the 12 month average $343,510

Mount Pearl: Listings = 19 Sales = 8
Sales/Listings Ratio = 42%
Average Sale Price (12 month average): $291,109

Paradise: Listings = 37 Sales = 19
Sales/Listings Ratio = 44%
Average Sale Price (12 month average): $351,166

East Extern: Listings = 56 Sales = 10
Sales/Listings Ratio = 18%
Average Sale Price (12 month average): $402,048

Conception Bay South: Listings = 34 Sales = 9
Sales/Listings Ratio = 24%
Average Sale Price (12 month average): $304,778

For a free Market Assessment on your property please contact us.  We would be more then happy to assist you and show you how to get top dollar in this changing St. John’s Market.

For a Free Market Evaluation

CLICK HERE

Sales are down a mere 2% so far in 2015.  This accounts for 9 sales. The number of listings are down 9% year to date.  We noticed an increase in sales in our office during the February month.  Seeing that RE/MAX does approximately 40% of the business in the St. John’s Real Estate Market I expect a little pop in stats for the March month when the transactions close.

7 New Years resolutions if you are selling your home this year

 

new_years_resolutions

The New Year is a time for resolutions. If you’re thinking about selling your home in the St. John’s real estate market, here are some resolutions that could help boost your chances of a quick sale.

1. “Avoid drastic design changes” – Unless you plan to turn your bold color palette into a more neutral one, then it’s best not to try and anticipate what buyers want in design and décor. The best approach to freshening up your home for sale is to simplify and depersonalize the look and feel so that potential buyers can picture building their own lives there. If you think repainting a bright purple wall, replacing an old toilet or buffing and restaining kitchen cabinets would help the home sell, by all means make these types of updates. Just be sure to keep your personal preferences in check. Your real estate agent can help you prioritize and remain objective.

2. “Stop neglecting the drippy faucet” – This applies to any repairs you might view as minor but actually could be a symptom of a larger system problem. Addressing things like plumbing leaks, poor ventilation and cracks in walls helps everyone avoid surprises from the inspection report and avoid the delay or even cancellation of a sale. When you have the information, you can either make the fixes or work with your agent to adjust pricing during negotiations with the buyer.

3. “Price my home reasonably” – It’s understandable to think your home is the best on the block and worth more than all the others – especially if you’ve invested in key upgrades and remodels. And, frankly, you might be right. But the only way to truly know is to consider recent sales of comparable homes in your area. Your real estate agent can provide you with the latest information and help you list at a competitive price that’s appropriate for your area and the local real estate climate.

4. “Make my home inviting” – This starts with creating curb appeal. The condition of your home’s exterior is a big part of getting buyers in the door. Maintaining the yard, sweeping the porch and driveway, replacing the tattered welcome mat, replacing missing house numbers, and removing clutter all are things that can help improve curb appeal.

5. “Thin out the clutter” – The best time for making tough decisions about what stays and what goes is BEFORE you put your home on the market. By the time the for-sale sign goes up, the home should be clutter free. You can either toss things you don’t want, sell these items, or move the more personal ones to storage. The types of items to remove include your prized knick-knack collection, clothes overflowing from the closets, and family photos. You want all closets and cupboards to appear as spacious as possible. When they’re jam-packed, it gives the impression that storage is limited even if that’s not the case.

6. “Clean like I’ve never cleaned before” – Think about under, behind, around and between. It’s easy to focus on cleaning the major surfaces, high-traffic areas, and areas that are visible. But what about the dust on top of the refrigerator? How about the slats in the window blinds? Have you cleaned the cabinets under the kitchen or bathroom sink recently? Did you notice the cobwebs behind the guest-room door? Look high and low for the dirt.

7. “Nail down my next step” – Don’t let your new plans and new place get lost in the shuffle of selling your old place. Determine where you’ll go next before your home goes up for sale. Are you prepared to move if your home sells quickly? Although it might not be typical, a quick sale is certainly possible. On the other hand, are you prepared if your home doesn’t sell quite so quickly? Be sure to talk with your real estate agent about your relocation needs and timeline.

(source: http://www.remax.com/c/housing-blog/blog-post/7-new-years-pledges-for-home-sellers)