Blog

By: Amy Francoeur

When is the Right Time to Buy?

Is NOW the Right Time to Buy?

The world of real estate can be overwhelming, with endless opinions about when the “perfect time” is to buy or sell. You’ve probably heard plenty of advice from friends, family, and experts, all with different takes on what you “should” or “could” do. But that constant noise can quickly lead to stress, frustration, and the nagging feeling that maybe you missed an opportunity or made a mistake in the past.

After nearly 20 years in the real estate industry, one thing I’ve learned is that the most successful real estate moves aren’t about catching the market at its peak or valley; they’re about aligning with your unique goals, needs, and lifestyle. The clients I’ve seen look back fondly on their decisions aren’t the ones who tried to guess market cycles but those who took a thoughtful look at what they wanted in their lives and acted accordingly.

When you focus solely on market timing, you often end up waiting and waiting, while the things that aren’t working in your current situation continue to impact your day-to-day life. I’ve seen people delay for months—or even years—holding out for the “right” moment, only to realize they’ve lost valuable time they could have spent in a better place for themselves or their family, or the pace of the market has out-paced their earning/saving power and they are no longer able to buy.If you’re feeling torn between wanting a change and worrying about timing, I’m here to help. I can work with you to clarify exactly what’s working and not working in your current situation, so we can create a plan that prioritizes you rather than the market’s ups and downs. Sometimes, the right time is whenever your current setup no longer serves you, regardless of what the news or experts might say.

If the time is right for you soon, there are also some advantages of buying over the Winter that we can discuss that can lead to you getting a better deal than if you want until the Spring market when activity picks back up again.

So if you’re ready to make a move but aren’t sure where to start, let’s talk. You don’t have to feel stuck in a home or situation that no longer meets your needs. Together, we can figure out a path that feels right and moves you forward. 🏡

Amy Francoeur

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By: Amy Francoeur

Enhancing Home Inspections with Thermal Imaging: A Crucial Real Estate Tip

Enhancing Home Inspections with Thermal Imaging: A Crucial Real Estate Tip

In the realm of real estate, the journey of purchasing a home can be both exhilarating and daunting. Amidst the excitement of envisioning your life in a new space, it's essential to prioritize the meticulous inspection of the property you're eyeing. Among the myriad of considerations, one invaluable tip stands out: opt for a home inspector equipped with FLIR/thermal imaging technology.

Why Thermal Imaging Matters
Especially pertinent in older homes where hidden issues may lurk beneath the surface, thermal imaging offers an unparalleled perspective. Beyond the naked eye's limitations, thermal cameras detect variations in temperature, unveiling potential concerns that may elude traditional inspections.

The Right Inspector Makes the Difference
A reputable home inspector proficient in thermal imaging doesn't merely conduct a cursory walkthrough. They go the extra mile, systematically assessing every facet of the property. From running taps, faucets, and appliances to scrutinizing heating systems and electrical wiring, thoroughness is their hallmark.

Unveiling Hidden Anomalies
The magic of thermal imaging lies in its ability to unveil concealed anomalies. Leaks, whether minor or catastrophic, often remain unseen until they manifest as visible damage. By employing thermal cameras, inspectors can pinpoint moisture accumulation indicative of leaks, preventing future headaches and financial burdens.

Moreover, thermal imaging isn't confined to water-related issues alone. It serves as a powerful tool for identifying potential heating and electrical deficiencies, as well as insulation gaps that compromise energy efficiency and indoor comfort.

Navigating the Process
Embarking on the journey of purchasing any home, especially an older home, necessitates informed decision-making. Amidst the myriad of considerations, selecting the right home inspector emerges as a pivotal step. However, the process need not be daunting.
If you find yourself grappling with questions about purchasing an older home or discerning the nuances of selecting a proficient home inspector, I'm here to guide you. Feel free to reach out, and together, we'll navigate the intricacies of real estate acquisition with confidence and clarity.

In the intricate tapestry of real estate transactions, the significance of a comprehensive home inspection cannot be overstated. By harnessing the capabilities of FLIR/thermal imaging technology, prospective homeowners gain invaluable insights into the structural integrity and functional efficiency of their future abode.

In the pursuit of homeownership, knowledge is power, and with the right guidance, informed decisions pave the way for a seamless transition into your dream home.

- Amy Francoeur

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By: Amy Francoeur

Ensuring Your Home's Cleanliness Before Moving Out: What's Expected?

Cleanliness, undoubtedly, is a subjective notion, especially when it comes to preparing your house for the next occupants. But what exactly does it entail? What are the standard expectations?

First and foremost, it boils down to the terms outlined in the signed contract. What agreements were made? Did the buyers stipulate professional cleaning or steam-cleaning of carpets before possession? If such requests are specified in the contract, it's your responsibility as the seller to fulfill them. Failure to do so could lead to potential legal repercussions, as it constitutes a breach of contract. Even if these requests weren't initially agreed upon during negotiations, once the contract is finalized, adhering to seller terms becomes obligatory.

However, what if the contract doesn't address these specifics? In such cases, the general rule of thumb is to leave the home in the same condition as the buyers viewed it. If they saw your home in a tidy state during inspections, they expect to receive it in a similar condition on possession day. Leaving behind clutter and unwanted items isn't acceptable.

Furthermore, consider how you'd want to find your next home: move-in ready.

Just as you wouldn't want to spend hours scrubbing floors and walls before settling in, neither would the new occupants. The golden rule applies here – treat your old home as you'd want your new one treated. Clean it thoroughly, dispose of any garbage, and leave it fresh and inviting for its new owners.

In essence, ensuring your home is clean and welcoming upon departure isn't just about meeting contractual obligations; it's about extending basic courtesy and respect to the individuals who will soon call it their own.

For my buyers, I will typically include a cleaning clause to protect them from showing up to a really dirty property on key day!

- Amy Francoeur

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By: Amy Francoeur

Appraisals: How Do They Play into Buying a Home?

The Canadian real estate market has been experiencing fluctuations, and Vancouver Island is no exception. Additionally, the federal government continues to implement mortgage rule changes to address the heated real estate markets, including adjustments to how appraisals are conducted. In Vancouver Island Real Estate, appraisals have become a common aspect of almost every home purchase, given the disparity between values and purchase prices.

Who Orders Appraisals?
If you're financing your home purchase, it's likely that your lender will require an appraisal. Previously, lenders typically requested appraisals for conventional mortgages or those with a down payment of 20% or less. However, in faster paced markets like on Vancouver Island where the relationship between value and price may not align, lenders seek to safeguard their investments by ensuring accurate assessments of property worth.

But What Does Value Mean?
Fair market value is defined as the highest estimated price that a buyer would pay and a seller would accept for a property in an open and competitive market, considering reasonable exposure to that market.

We have seen over the past years that properties often sell for amounts exceeding their listing prices within days, sometimes hours. Consequently, lenders are increasingly demanding appraisals for most, if not all, of their mortgages. While purchase prices and fair market values may differ, lenders must verify that values are substantiated.

Appraisers Have Their Work Cut Out for Them
Navigating this dynamic market presents challenges for appraisers as well. Typically, appraisers rely on "pending" or "sold" properties from the last 90 days as comparables to determine value. However, with the real estate market evolving daily, a home's purchase price may surpass the values of comparable properties.

Appraisers endeavor to address this discrepancy by selecting homes with similar features to the one being purchased and methodically comparing them to determine a reliable value. They then furnish a written report to the lender, outlining their assessment.

What Happens When the Appraisal is Lower Than the Purchase Price?
You have options! Assuming you are still within your conditional (subject) period, you can ask the seller to re-negotiate the price (*this really depends on how competitive the offer situation is, whether you want to make this request), or you can walk away (assuming you have a subject to financing in your offer!). You can also decide to cover the shortfall in value with a higher down payment, independently of making any changes to the offer with the seller.

In essence, appraisals serve as a crucial tool in ensuring that the purchase price aligns with the property's true value, providing lenders and buyers with confidence in their investment decisions amidst a dynamic real estate landscape.

- Amy Francoeur

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By: Amy Francoeur

Mastering Home Staging: Key Rooms to Focus On

Mastering Home Staging: Key Rooms to Focus On

When it comes to selling your property, home staging can be the game-changer that puts thousands of dollars in your pocket. While hiring a professional stager for every room might not always be feasible, focusing on the most important areas can still make a significant impact.

With years of experience collaborating with professional stagers, I've witnessed firsthand how staging can accelerate a sale and boost its final price. Juggling day-to-day life while staging your home can be challenging, but here are some essential tips to stage your home effectively for sale.

Kitchen: The heart of the home, the kitchen deserves special attention. Start by ensuring that your appliances, countertops, and sink gleam with cleanliness. Wipe down surfaces and eliminate any traces of grime or stains. Clear the countertops of clutter, leaving only a couple of tasteful decorative items to highlight the ample counter space. Inside the cupboards, organize items neatly to create an impression of spaciousness. Consider investing in storage solutions to maximize cabinet space and showcase the kitchen's potential for organization.

Bathrooms: Cleanliness is paramount in the bathrooms. Keep everything clean, tidy, and uncluttered. Conceal cleaning products, extra toiletries, and personal items to create an inviting atmosphere. If you have a shower curtain, keep it open during showings to enhance the perception of space. Arrange matching towels neatly on racks, evoking a luxurious, spa-like atmosphere that invites potential buyers to envision themselves in the space. Consider adding subtle touches like fresh flowers or scented candles to enhance the ambiance and appeal to the senses.

Bedrooms: The bedroom should exude comfort and tranquility. Especially in the master bedroom, ensure the bed is impeccably made with coordinated bedding and decor. Invest in quality linens and pillows to create a plush, inviting look. Conceal personal items and clutter, storing them neatly in closets or under the bed if space allows. Aim for artwork that complements the bedding, tying the room's aesthetic together seamlessly. Consider adding soft lighting and tasteful accents to create a relaxing retreat that potential buyers will find irresistible.

Entrances (Interior & Exterior): The first impression matters. Ensure that both the interior and exterior entrances to your home are clean, welcoming, and clutter-free. Sweep the front porch, tidy up any stray items, and consider adding a fresh coat of paint or potted plants to enhance curb appeal. Inside, create an inviting atmosphere by decluttering entryways, removing excess shoes or coats, and ensuring that the space feels open and welcoming. The entrance sets the tone for the entire viewing experience and can greatly influence a buyer's perception of the home's overall appeal.

While these key rooms deserve special attention, don't neglect the rest of your home. Make sure every space is clean, organized, and clutter-free. Decluttering is essential to create an open, spacious feel that allows potential buyers to envision themselves living in the space.

By focusing on these key rooms and presenting your property in its best light, you can captivate potential buyers and maximize your chances of a swift and lucrative sale.

If you’re looking to sell real estate on Vancouver Island, reach out to me anytime to discuss how I can help!

- Amy Francoeur

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By: Amy Francoeur

Navigating Competing Offers: A Buyer's Guide

Navigating Competing Offers: A Buyer's Guide

In the bustling Vancouver Island Real Estate market, competing offers have become common, making it crucial for buyers to strategize ahead of time. To stand out in a sea of contenders, preparation and homework are key long before you find the perfect property.

Ideally, you'd secure your dream home without the stress of competing offers. However, with inventory still low on Vancouver Island & high buyer demand (especially in affordable markets like the Alberni Valley!), you're likely vying for the same properties as many others!

Your first order of business as a buyer is preparation. This entails connecting with a mortgage broker, forging a relationship with a reliable real estate agent, and outlining your non-negotiables for your next home. Most buyers in this market have already taken these essential steps. If you haven't, you risk losing out to someone who's done their homework.

But what if you find yourself facing competing offers for your dream home?

Firstly, don't panic. I've guided numerous buyers to success in such scenarios. Just because others are interested doesn't mean you're out of the running. Several factors influence a seller's decision, with price typically topping the list. This underscores the importance of obtaining pre-approval from your bank or mortgage broker, a step that often sways sellers in your favor.

Conditional offers, laden with contingencies that could have been addressed earlier, often raise concerns and reflect a buyer's level of preparedness. However, it's not always feasible to eliminate conditions entirely. Rest assured, a well-crafted offer coupled with adept negotiation by your real estate agent can tip the scales in your favor.

In the competitive landscape of real estate, arming yourself with preparation and a proactive mindset can set you on the path to securing your dream home amidst competing offers.

Trust the process, stay informed, and let strategic planning pave the way to success.

If you’re looking for a Real Estate Agent well versed in negotiations & guiding their clients through the complexities of competing offers,, reach out to me!

- Amy Francoeur

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By: Amy Francoeur

You Don’t Need a Realtor to Sell Your Home

Selling your home without the assistance of a real estate agent, also known as For Sale By Owner (FSBO), can be an enticing prospect. After all, who wouldn't want to save on commission fees and have complete control over the selling process?

While FSBO certainly has its advantages, it's essential to consider the potential drawbacks before going down this route. Let's explore some of the pros and cons of selling your home without a realtor:

Pros:
1. Save on Commission Fees: One of the most significant advantages of FSBO is the potential to save thousands of dollars in commission fees typically paid to real estate agents. By eliminating the middleman, you can retain more of the sale proceeds for yourself.
2. Maintain Control: Selling your home FSBO puts you in the driver's seat. You have full control over pricing, marketing strategies, scheduling showings, and negotiating offers. This level of autonomy can be empowering for homeowners who want to be hands-on throughout the selling process.
3. Personalized Marketing: As the owner of the property, you know its unique features and selling points better than anyone else. With FSBO, you have the freedom to tailor your marketing efforts to highlight these aspects and attract potential buyers who align with your vision for the home.

Cons:
1. Limited Exposure: One of the most significant challenges of FSBO is the lack of exposure to a broader pool of potential buyers. Without the reach and network of a real estate agent, your home may not receive as much visibility in the market, potentially leading to longer days on market and lower selling price.
2. Complexity of Transactions: Selling a home involves navigating a complex web of legal and financial transactions. From pricing the home accurately to negotiating contracts and handling paperwork, FSBO sellers must be prepared to manage these intricacies effectively. Without the guidance of a knowledgeable real estate agent, you may find yourself overwhelmed and susceptible to costly mistakes.
3. Limited Resources and Expertise: Real estate agents bring years of experience, industry knowledge, and professional networks to the table. They have access to valuable resources and tools that can streamline the selling process and maximize your home's exposure. Without the support of a realtor, FSBO sellers may struggle to compete effectively in the market and achieve optimal results.
4. Emotional Attachment: Selling a home can be a stressful and emotional process, especially if you've lived in the property for an extended period of time. Without the buffer of a real estate agent, FSBO sellers may find it challenging to maintain objectivity and make rational decisions throughout the selling process.

While FSBO offers potential cost savings and autonomy, it's essential to weigh the pros and cons carefully before deciding to go it alone. Selling a home is a significant financial transaction that requires careful consideration and expertise. Before embarking on the FSBO route, consider consulting with a real estate professional to explore your options and make an informed decision that aligns with your goals and priorities.

If you’re looking for guidance through selling your next home, reach out to me!

- Amy Francoeur

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By: Amy Francoeur

Maximizing Your Open House: Essential Tips for Sellers

Preparing for an open house is a pivotal step in the process of selling your home. It's not just about tidying up; it's about creating an inviting atmosphere that appeals to potential buyers. Here are some crucial steps to ensure your open house is a success:

1. Repair and Maintain:
Before even listing your property, ensure that all minor repairs are taken care of. From squeaking doors to leaky faucets, addressing these issues can prevent distractions for potential buyers. A well-maintained home suggests that it has been cared for and is less likely to raise concerns about hidden problems.

2. Clean and Declutter:
Cleanliness is key to making a positive impression. Ensure that every room is spotless and clutter-free. Consider professional cleaning services if necessary. Pay attention to lighting as well; well-lit spaces feel more inviting. Replace burnt-out bulbs and consider adding mirrors to enhance natural light, especially in darker areas of the house.

3. Pet Considerations:
While your furry friends are beloved members of your family, they may not be as welcome during an open house. Consider arranging for pet care on the day of the event. This ensures that potential buyers with allergies or aversions to animals feel comfortable exploring your home without distraction.

4. Depersonalize Your Space:
Remove personal items such as family photos, trophies, and other memorabilia. Buyers want to envision themselves living in the space, and personal items can hinder that process. Creating a neutral environment allows potential buyers to imagine their own lives within the home.

5. Absenteeism is Key:
During the open house, it's best for sellers to make themselves scarce. Allow your real estate agent to guide prospective buyers through the property without feeling awkward or inhibited. When homeowners are present, buyers may feel uncomfortable expressing their opinions or asking questions freely.

6. Showcase Your Home's Best Features:
Highlight the unique features and selling points of your home. Whether it's a cozy fireplace, spacious backyard, or newly renovated kitchen, draw attention to what makes your property special. Consider staging certain areas to help buyers envision the full potential of the space.

7. Provide Information:
Offer informative materials about the property, including details about recent renovations, neighborhood amenities, and school districts. Providing this information can help buyers make informed decisions and envision themselves living in the area.

8. Follow Up:
After the open house, follow up with your real estate agent to discuss feedback and any potential interested parties. Being proactive in the post-open house phase can help keep the momentum going.

By following these steps and investing time and effort into preparing for your open house, you can significantly increase the chances of attracting interested buyers and ultimately closing a successful sale.

Remember, the goal is to create a welcoming environment that allows potential buyers to see themselves calling your house their home.

If you’re looking to sell real estate on Vancouver Island, reach out to me anytime to discuss how I can help!

- Amy Francoeur

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By: Amy Francoeur

Navigating Real Estate: The Importance of Due Diligence

The age-old adage, 'buyer beware,' still holds true in the realm of real estate. Many assume that sellers are obligated to disclose if a heinous crime occurred near a property, or there was a previous death, etc, but the reality is more nuanced. While sellers must reveal any latent defects—hidden flaws not readily apparent to buyers—the onus lies on buyers to delve deeper into a property's history.

A past case highlighted by the Real Estate Errors and Omissions Insurance Corporation underscores this point. In their post, they shed light on the intricacies of property disclosures, urging buyers to exercise vigilance in their research endeavors.
The crux of the matter is simple: if something is pivotal to your decision-making process, conduct thorough research and communicate openly with your real estate agent. Stigmas surrounding a property can blur the lines of disclosure, making it imperative for buyers to pose relevant questions.

The BCFSA underscores buyers' ultimate responsibility in ensuring a property aligns with their needs. It emphasizes that buyers should proactively investigate any concerns, which may include probing licensed agents or even the sellers directly. Furthermore, buyer's agents are duty-bound to facilitate these inquiries upon request.

While broaching sensitive topics like deaths or crimes on the property may seem uncomfortable, clarity outweighs discomfort. Understanding the property's history can significantly impact your decision to purchase. Additionally, some municipalities provide access to crime maps, offering readily available and up-to-date information.

In essence, the world of real estate demands meticulous scrutiny. By embracing due diligence and fostering open communication, buyers can navigate the complexities of property transactions with confidence and clarity.

If you want to ensure you have a Real Estate Agent that is well-versed in asking these questions, and helping their clients dig in to the issues that are important to them, reach out to me!

- Amy Francoeur

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By: Amy Francoeur

The #1 thing you need to know before buying a home.

Actually There Are TWO Things!

What You Want & What You Can Afford.

It's crucial to determine these two fundamental aspects that will guide your homebuying experience:

1. What You Want: The first step in the homebuying process is to clearly define what you want in a home. Consider your lifestyle, preferences & long-term goals. Do you envision a cozy rancher in the suburbs, a Downtown condo, or a spacious family home in the country? Think about the number of beds & baths you need, desired amenities, proximity to schools & workplaces, and any specific features that are non-negotiable for you. Creating a wishlist will help you narrow down your search & focus on properties that align with your vision.

2. What You Can Afford: While it's natural to have grand visions of your dream home, it's equally important to stay grounded in reality & consider what you can afford. Assess your financial situation carefully, including your income, expenses, savings & debt obligations. Determine how much you can comfortably allocate towards a mortgage payment each month without stretching your budget too thin. Keep in mind that homeownership comes with additional costs beyond the purchase price, such as property taxes, insurance, maintenance & utilities. Being realistic about your financial limitations will help you avoid overextending yourself & experiencing financial strain in the long run.

It's essential to remain flexible & prioritize your needs over your wants, especially in a competitive real estate market. While compromises may be necessary, remember that your home is a reflection of your lifestyle and values, and finding the right fit is worth the effort, and the time.

As you embark on your home buying journey, enlist the help of an experienced real estate professional who can guide you through the process and provide valuable insights and advice. Be patient, stay informed, and trust your instincts as you navigate the exciting world of homeownership.

Understanding what you want and what you can afford are the two critical factors to consider before buying a home. By clarifying your priorities, setting realistic expectations, and staying financially responsible, you can find a home that not only meets your needs but also brings joy and fulfillment for years to come.

Reach out to me if you’re looking to buy real estate, always happy to help!

- Amy Francoeur

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