A warning to anyone who wants to rent their home

I think real estate is a great investment, especially in a market which is as consistent as in Nova Scotia. There does not tend to be massive swings in value, making the investment a long-term growth plan.  Also, the cost to get into a house in comparison to other markets in Canada is relatively low.  Rents on the other hand tend to be on par with many other cities across the country.  This might be the reason we see far more apartments being built than condominiums – developers see a higher return on their investment by renting, than building to sell. However, renting your home comes with risk.  I’m going to tell you a recent story and some ideas of how to avoid the same situation my clients unfortunately found themselves in.

The investment…

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Radon Gas – You won’t notice it, but you should

What's the problem?

Without going into a great amount of detail, radon gas is not good for you and has been linked with lung cancer.  A recent survey published by Health Canada said that 7% of Canadians are living in homes with high radon levels.  Its an issue which has gained more attention in recent years, but its not yet getting the attention it deserves.  Radon levels are measurable and they can be mitigated fairly easily for a reasonable cost.  So why aren’t more people taking steps to do so?

Awareness

It’s difficult for people to grasp the potential magnitude of a problem when it is invisible.  If a roof leaks or an appliance stops working, you are very aware of it and will take steps to fix the issue.  However, when the problem is not…

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Kitec Plumbing - The Scary Orange Beast

What is Kitec Plumbing?

Scary stuff.  Well, not really.  A highly publicized lawsuit settled in 2012 put a big black mark on that bright orange plumbing.  On a regular basis, I hear people talking about the product and the stigma surrounding it.  So I decided to call a reputable plumber to ask his opinion of the pipe and what the drawbacks are.  I am not a plumber and do not claim to be a professional in the field!  All information below is a regurgitation of the notes I took from our conversation.

There are drawbacks

This blog is not to claim the product does not have its failures.   My plumbing contact stated that failures occurred in systems operating at high temperatures between 180 and 200 degrees.  This is limited to hot water baseboard…

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The Biggest Real Estate Mistake I Ever Made

In a career that’s spanned more than ten years, it was likely for a mistake or two to happen along the way.  Thankfully, my mistakes did not have a negative impact on my clients but they certainly served strong lessons to me.  Did I have to buy a washer and dryer once or twice because they were missed on the inclusions list?  Yes, but it was a small price to pay for having happy clients at the end of the day.  In the grand scheme of things, an appliance is a minor issue when compared with some of the other things to watch in real estate. The correct terms and conditions are extremely important, as are the deadlines associated with them.

The Situation

In this particular instance, I had struggled with a difficult listing.  The homeowner took it…

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The truth about condo fees

There's generally a negative stigma that surrounds condo fees.  The majority of people I speak to think they are a waste of money and prefer the cheap ones to the more expensive.  Yes, some condo complexes are poorly run and the money collected from fees can be wasted or spent incorrectly. However, a well-managed condominium will use the fees to maintain the value of a property and in some cases, increase it as well.

You'll rightfully be wondering where the money goes.  Before you purchase any condo, you’ll be given the opportunity to review the condominium documents which will also outline the budget for the complex.  Keep in mind the reason for buying a condo is they can offer a low maintenance, worry free lifestyle.  After reviewing a budget…

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Fall 2018 Housing Outlook

CMHC just released their housing outlook for the Halifax Central Metropolitan Area and is forecasting strong growth for the next two years.  Residential housing starts are expected to increase in both the apartment and single family home markets.  A high amount of inter-provincial and international migration coupled with an ageing population looking to downsize is driving the growth.  Apartment construction will be focused mainly on the Peninsula and is expected to ramp up through 2020. 

After recording a growth of nearly 30% the last two years, new construction starts of single family units will flatten out and grow at a more modest pace. A tightening re-sale market with fewer options to choose from may mean people look at new construction to…

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Welcome, Koree Burt!

It is with great excitement that we introduce Koree Burt as a valued member of the Coldwell Banker Maritime Realty.  She comes with four years experience in the industry and is focused on creating exceptional client experiences. 

Koree is a wife, mother of two children and a proud Nova Scotian who has resided in the HRM area since 2007, with roots in Pictou County and Cape Breton County. She is a reliable, energetic and ethical professional who goes above and beyond for her clients.  A career in the real estate industry has always been a dream for Koree, which is reflected in her passion to provide an outstanding client experience.  Koree loves meeting new people and helping them reach their real estate goals.  She prides herself in doing the…

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2018 Pumpkin Handout - A Huge Success!

Our 2018 Pumpkin hand out was a huge success.  Agents from our office purchased pumpkins from local grocery stores and then gave them away to the public for free, with a suggested donation to Feed Nova Scotia.  A big thank you to the volunteers who braved the cold to help us raise money and awareness for this great cause.  With their help, we were able to raise $2,242 and 15 boxes of supplies - enough money for Feed Nova Scotia to make 6000 meals!

If you have ideas of future events we might be able to get involved with, drop us a line and we'd be happy to chat about it. 

See you for the event next year!

Chris Perkins

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Halifax Real Estate Market Update

We had lunch this week with a few representatives from CMHC (Canada Mortgage and Housing Corporation) and they gave us a quick update on what they see happening across the HRM.  Perhaps most notably, the average price of a Halifax Peninsula home has increased this year by a substantial 10.5%.  This is partly due to a low amount of inventory but also because many of these homes have undergone significant renovations.  Sales are also up by 6.4% creating a hot spot in our market.

Looking at the greater central metropolitan area, sales are up by 7.8% and the average sale price has also increased by 2.7%.  The average time to sell a home dropped by 18% to 71 days on the market.

Real Estate Market Snapshots:

Dartmouth

Sales increased by 7.6%
…

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Selling Your Home | Ask the Right Questions

Since I began my career in real estate 10 years ago, I have always said people should interview more than one agent before selecting who should represent them to sell their home.  Selling a home is a huge decision and let’s be honest, it is also an expensive one.  It is important to know what you are paying for and what value you are receiving for your investment in a real estate agent.  Often, sellers do not interview more than one agent because they aren’t sure what questions to ask.  So I have compiled a list below that will help you make the best decision.

Remember, a listing presentation is a job interview.  You are selecting someone who is going to provide the best value and customer service, while also ensuring you get maximum exposure and…

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