Guelph Real Estate Blog Updates - Guelph Real Estate Agents

Not-So-Obvious Home Staging Tips

October 21, 2024

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When it comes to “staging” your home for sale – which basically means ensuring it looks clean and uncluttered – you probably already know the basics: clean the counters, vacuum the floors, mow the lawn, etc.

But there are also some less obvious home staging tips that can help to sell your property faster and for a higher price. Here are a few examples.

The Kitchen
Obvious: The stove, sinks, and countertops should be spotless.
Not-so-obvious: The contents of your cabinets and refrigerator should be facing forward.

The Bathrooms
Obvious: They should be clean and uncluttered. Have fresh towels hanging neatly on the rack. (Create the “hotel bathroom” look.)
Not-so-obvious: All towels should match. Ensure toilet lids are closed.

Your Bedroom
Obvious: Make the bed neatly. Check that the closet is organized and uncluttered. (If your closet is bulging with clothes, put some in storage.)
Not-so-obvious: Don’t leave any clothes out. Even clean clothes neatly folded in a hamper can seem untidy to some people.

The Kids’ Bedrooms
Obvious: They need to be clean and uncluttered. (Good luck!)
Not-so-obvious: Arrange stuffed animals, games and other toys like an attractive display in a toy store. It’s okay to have a toy, like a racetrack, out of the box. Just make sure it’s completely put together.

As your trusted local, Guelph Real Estate Agents, Wolfgang and I are happy to help you with staging, listing and selling your home! Please give us a call for help or with any questions you may have!

The Hidden Dangers of Lease-to-Own Contracts (What Every Homebuyer Should Know)

October 21, 2024

by aowd

in Uncategorised

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In today’s competitive housing market, many aspiring homeowners are turning to alternative financing options to make their dreams of property ownership a reality. One such option that has gained popularity is the lease-to-own contract. While these agreements may seem attractive at first glance, they often come with hidden pitfalls that can lead to severe financial distress and even eviction. This blog post aims to shed light on the dangers of lease-to-own contracts and provide valuable information for potential homebuyers.

The Allure and Deception of Lease-to-Own Agreements

Lease-to-own contracts, also known as rent-to-own or contracts for deed, appear to offer a pathway to homeownership for those who may not qualify for traditional mortgages. These agreements typically allow potential buyers to rent a property for a specified period, with the option to purchase the home at the end of the lease term. However, as recent events have shown, these contracts can be fraught with risks and may be used as tools for predatory lending practices.

A Cautionary Tale: The Andino Reynal – Ribbon Home Lawsuit

A recent lawsuit filed by Attorney Andino Reynal of The Reynal Law Firm on behalf of Texas homeowner Genae Hull against Ribbon Home SPV I, LLC, Ribbon Home SPV II, LLC, and EasyKnock, Inc. highlights the potential dangers of these agreements. Hull’s experience serves as a stark warning to other potential homebuyers.

According to the lawsuit, Hull purchased a home through Ribbon Home in 2021 and faithfully made payments for nearly three years. During this time, she witnessed a significant increase in the property’s value. However, in a shocking turn of events, Ribbon abruptly shut down the payment portal and moved to evict her.

This case exemplifies the bait-and-switch tactics that some companies allegedly employ in lease-to-own transactions. As Federico Andino Reynal, the attorney representing Hull, states, “Lease-to-own contracts often appear attractive at first glance, but many come with hidden pitfalls that can lead to severe financial distress.”

The Resurgence of Predatory Lending Practices

The Hull case is not an isolated incident. There has been a resurgence of predatory lending practices in Texas and across the United States. High-tech national companies are repackaging lease-to-own contracts, posing significant risks for homeowners. This trend underscores the importance of vigilance and thorough research before entering into any alternative financing agreement.

Lack of Consumer Protections

One of the primary concerns with lease-to-own contracts is the lack of substantial consumer protections and regulatory oversight. Unlike traditional mortgages, which are subject to strict regulations and consumer protection laws, these alternative financing arrangements often operate in a regulatory grey area.

The Pew Charitable Trusts highlights that these agreements are generally riskier and more costly than traditional mortgages. Without proper oversight, unscrupulous companies can take advantage of unsuspecting buyers, leading to situations where homeowners face eviction despite diligently making payments.

The Role of Regulatory Bodies

In response to these alarming developments, various regulatory bodies are taking action:

The Consumer Financial Protection Bureau (CFPB) is actively combating predatory lending by issuing warnings and filing lawsuits against deceptive practices, including lease-to-own schemes.
State legislators across the country are considering tightening regulations to prevent predatory practices from proliferating. Proposed measures include enhanced transparency requirements, stricter enforcement of existing laws, and increased penalties for companies found guilty of deceptive practices.
The Texas Attorney General’s office has launched an investigation into these practices, aiming to protect consumers and hold companies accountable.

Protecting Yourself: What Potential Homebuyers Should Know

If you’re considering a lease-to-own agreement, here are some crucial steps to protect yourself:

Thoroughly research the company: Check their reputation with the Better Business Bureau and look for any complaints or lawsuits filed against them.
Understand the terms: Carefully read and understand all terms of the agreement. If something is unclear, seek legal advice before signing.
Know your rights: Familiarize yourself with your state’s laws regarding lease-to-own agreements and consumer protections.
Consider alternatives: Explore all available options, including traditional mortgages or government-assisted homebuying programs, before committing to a lease-to-own agreement.
Be wary of high-pressure tactics: If a company is pushing you to sign quickly or discouraging you from seeking legal advice, consider it a red flag.

The Importance of Legal Representation

In cases where homeowners find themselves in disputes with lease-to-own companies, legal representation can be crucial. Attorneys specializing in consumer protection and real estate law can help navigate the complex legal landscape and protect homeowners’ rights.

Conclusion: Proceed with Caution

While the dream of homeownership is powerful, it’s essential not to let that dream cloud your judgment. Lease-to-own contracts may seem like an attractive shortcut to property ownership, but they can often lead to financial distress and legal complications.

As the housing market continues to evolve, it’s crucial for potential homebuyers to stay informed, vigilant, and cautious. By understanding the risks associated with lease-to-own agreements and taking steps to protect themselves, aspiring homeowners can make more informed decisions and avoid falling victim to predatory practices.

Remember, when it comes to such significant financial decisions, it’s always better to err on the side of caution. Take the time to research, understand, and seek professional advice before entering into any alternative financing agreement. Your future financial stability and the security of your home may depend on it.

Three Lists to Make When Selling Your Home

February 3, 2020

by aowd

in Guelph Real Estate

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Three Lists to Make When Selling Your Home

If you are thinking about selling your home, there are a few things to consider. There is the emotional side of deciding to move and pack up all of your belongings. The practicality of how much time it will take to clean out the house and make it presentable for buyers. And then there’s all that stuff in between like getting an appraisal, putting together a marketing plan, and finding a buyer. But, of course, that’s what Real Estate Agents are for!

When you put your property up for sale, you want to make sure that potential buyers get all the information they need on the features of your home and its surrounding area. If, for example, house buyers don’t realize there is a great school just a couple of blocks away, they might cross your property off their shortlist.

An effective way to make sure something like that doesn’t happen is to create three lists.

#1: The “I’ll miss it” list.

Chances are, there are things about your home that you’re really going to miss when you move. One of those may be the spacious living room that’s ideal for entertaining or the nearby park with scenic trails that are perfect for walking and biking.

Whatever you’ll miss, put it on the list! Chances are, those are features that will also interest buyers.

#2: The “Just the facts” list.

What are the facts about your property that a buyer needs to know in order to consider purchasing it? This may be a very long list including such items as total square footage, number of bedrooms, number of bathrooms, property taxes, size of the yard, and more.

#3: The “repairs and improvements” list.

Buyers are interested in the state of repair of your home, and in any improvements, you have made to it. On this list include all repairs you have done during the past three years and, if possible, attach receipts. It’s especially important to include anything that has been replaced, such as the furnace or roof shingles.

So, what ways can you ensure your house is attractive to potential buyers?

1. Think about the time of year you want to sell your home.

2. Update what’s on the market with comparable homes in your area that have sold recently, or are just now coming on the market and consider a pricing strategy that will make yours stand out from them!

3. Get pre-approved for a mortgage to show buyers how much they can afford in terms of monthly payments so they know they’re getting a good deal on their new house too!

Contact your Guelph Real Estate Agents with any questions you may have about buying or selling a home!

Décor Colour Choices Can Be Psychological

November 27, 2019

by aowd

in Guelph Real Estate

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Although choosing a room’s colour is highly personal, it’s worth noting that studies have linked specific colour tones to psychological behaviours. In fact, many doctors, scientists and design experts believe that certain colours can actually influence your mood or motivation.

The following list provides a general interpretation of commonly held views about how we perceive colour. It may help you decide on the colours you’ll use in your next interior painting or decorating project. While some suggested connections may seem obvious, others might surprise you.

White: cleanliness, purity, innocence.
Yellow: concentration, attentiveness, optimism.
Orange: abundance, expressiveness, passion.
Red: emotion, creativity, appetite.
Purple: status, opulence, indulgence.
Blue: trust, confidence, productivity.
Green: tranquility, comfort, nourishment.
Brown: honesty, sincerity, simplicity.
Black: contemplation, dedication, commitment.

Of course, subtle differences in hues and shades can evoke different emotional responses. As a result, complementary colours can sometimes seem to conflict with the expected psychological response to your primary selection. So, despite all the available scientific information, you should consider your instincts as well.

As your local Guelph Realtors, we’re here to help you make all the right decisions when it comes to staging and selling your home! Give us a call if you

How to Quick-Prep Your Home for Sale

November 20, 2019

by aowd

in Guelph Real Estate

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Ideally, you should plan to have plenty of time to prepare your home for sale. You want to be able to get everything fixed and cleaned up, and perhaps even make a few improvements, such as installing a new countertop in the kitchen.

For any number of reasons, that’s not always possible. If you have to suddenly relocate for work, for example, you may have only days to make your home “show ready” for the market.

What should you do? The answer is: the essentials.

First, arrange to get any maintenance issues dealt with immediately. When selling your house, if you have a clogged shower drain or cracked windowpane, call a professional repair person. Even if those items don’t get fixed by listing day, you can inform buyers that the repairs are scheduled – and that receipts proving that the work was done professionally will be available.

Next, you need to do a thorough clean-up. Staging experts (those who professionally prepare homes for sale) unanimously agree that making each room look neat and tidy is essential. Even something as seemingly minor as dust accumulation on blinds can impact buyers.

If you still have time available before the For Sale sign goes up, consider doing some redecorating. Stand in each room and ask yourself, “How can I make this room look more spacious and appealing?” Oftentimes, simply rearranging the furniture and moving a few items into storage will make a dramatic difference.

Yes, prepping your home on a tight schedule takes some work. However, in just two or three days, you’ll have a property that is more attractive to prospective buyers. It will show better, and, as a result, it will likely sell faster.

Looking for more ideas for selling your home, quickly? Call us, your local Guelph Real Estate Agents, today.

Four Signs You’ve Outgrown Your Current Home

November 8, 2019

by aowd

in Guelph Real Estate

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It’s not uncommon for couples with growing families to trade in their compact cars for something roomier, like a mini-van. The same thing happens with homes. Sometimes families simply outgrow them.

How can you tell if that’s happening with your property? Here are some sure-fire signs:

You need more space.
This is the most common reason people upgrade to a new home. They need more room. For any number of reasons, you might want an extra bedroom, a larger living room, a bigger backyard, or a more spacious kitchen. Rather than put up with feeling cramped, consider exploring the extra space a new home can provide.
A renovation won’t fix it.
Sometimes, when a property doesn’t fit its owners’ needs anymore, they consider a renovation. For example, if they need more space for a home office, they convert a spare room. However, a renovation doesn’t always fix the problem. For example, building a double, rather than single driveway and garage, may not be possible given the constraints of your property. Only a new home can solve that problem.
You’re interested in a new neighbourhood.
The neighbourhood may have been perfect for you at one time. But needs evolve. You may now be looking for something the area doesn’t provide – like closer access to a recreational activity your family enjoys, or a more convenient commute to work. If that’s the case, it might be time to look at other neighbourhoods you’d like to consider, and see what types of homes are currently available there.
It’s time for a change.
Sometimes you simply feel it’s time for a change. There’s nothing wrong with that. Don’t feel you need a practical reason to sell and find a new home. If this feels like the right time for you and your family to move, go for it.

Ready to get started on your search for the perfect home for you and your family? Give us, your local Guelph realtors, a call today!

Will the Neighbourhood Go Up in Value?

November 1, 2019

by aowd

in Guelph Real Estate

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When you purchase a home, you hope it will continually go up in value – just like a good investment.

However, there’s something else that you also want to see increase in value: the neighbourhood. In fact, the neighbourhood plays a key role in what the home will be worth in the years to come. If the neighbourhood goes down in terms of desirability, so will the market value of the home.

So, when you’re shopping for a new home, get a feel for the value of the neighbourhood, and whether or not it’s on the upswing.

How do you do that? One way is to simply take a walk. Look at the properties. Are they well maintained? Is the landscaping groomed and attractive? Those are signs of “pride in ownership” – a clear indication that owners value their homes and the neighbourhood.

Another way is to do some research. Has crime gone up in the neighbourhood? Are there improvements planned, such as new parks? Is the neighbourhood attracting the kind of people you want as neighbours? How do the neighbourhood schools rank?

Some of this information may be difficult to get on your own. As your Guelph real estate agents, we can help. Call us today!

4 Gentle Ways to Deal With Insects in Your Home

October 3, 2019

by aowd

in Guelph Real Estate

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A growing number of homeowners are uncomfortable using traditional pesticides for a variety of reasons, including health and environmental concerns. If you’re among them, here are some natural ways to deal with insects in your home:

Use a mixture of unsweetened lemon juice and water to deter spiders. Spray the solution near doorways and window sills where these arachnoids can enter.
Combine an equal mixture of vinegar and water to create an effective deterrent for a variety of crawling insects, particularly ants. Spray the solution on floors and countertops that are close to these creatures’ food sources.
Believe it or not, invest in a fake wasp nest (which you can purchase at your local home improvement store) to deter real wasps from building a nest on your property.
Experts recommend that you test any surface spray you plan to use to make sure it doesn’t stain or otherwise harm the surface.

Have questions about homeownership? Call our team of Guelph Real Estate Agents today – we’re always happy to help!

Being Safe with the Chemicals in Your Home

September 23, 2019

by aowd

in Guelph Real Estate

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You would have to visit your local pharmacy or science lab to rival the number of potentially dangerous chemicals in the average home. You likely store everything from fertilizers and acidic cleaners, to gasoline and corrosive drain openers.

Obviously, it makes sense to ensure that everyone in your home uses and stores these items safely.

For example, laundry detergent packs – which have become popular recently – are attractive to children. Be sure to keep the lid locked and the package out of sight. Do the same with all laundry products. Even exposure to fabric softener pads can cause skin irritation, especially to a child.

Always read and follow the labels on household chemical products. Use and store them as directed. Make sure the labels remain affixed to all packaging.

Keep corrosives, such as harsh cleaners and drain openers, separate from other chemicals and in a place where, should they leak, they will cause minimal or no damage.

Also, never put a chemical in anything other than its original container. You don’t want to take the chance that, for example, paint thinner stored in an old water bottle is mistaken for water!

As Guelph Real Estate Agents, we work inside of many people’s homes and know first hand the importance of properly handling and storing your household chemicals. Please take care and keep your family safe!

5 Unusual (But Effective) Home Staging Ideas

September 12, 2019

by aowd

in Guelph Real Estate

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“Staging” your home is all about making the space in your home as appealing as possible to buyers. You may already know the basics, such as eliminating clutter, and removing personal photographs. Here are some other tips that are less well known yet very effective:

A chandelier. Surprisingly, installing a chandelier is one of the simplest ways to make a foyer, dining room or living room look dramatically more eye-catching. You can buy a nice chandelier for only a few hundred dollars.

New linen. This is something many home sellers don’t consider, but should. Believe it or not, new linen makes a big impression on buyers. Before listing, replace any worn linen – sheets, coverings, and towels – with new ones.

Pedestal sinks. It may not be practical for you to replace a bathroom sink. However, if you are doing a renovation, keep in mind that pedestal sinks – especially in small washrooms – are a big hit with buyers.

New appliances. A brand new fridge, stove, and dishwasher are motivating selling features to buyers. New appliances can make the whole kitchen look brand new, or at least much fresher.

Avoid multi-use rooms. Have a spare bedroom that doubles as a home office? That’s a turnoff to buyers. Whenever possible, stage each room so that it has a singular purpose. A guest bedroom, for example, should only be for sleeping.

Want more tips on how to stage your home so that it attracts more buyers looking to purchase Guelph real estate? Call today.