Realestock Blog

Cats are a wonderful addition to any home and the most popular pet in the world. The obvious choice of apartment owners, cats can be just as affectionate as dogs, and are much better suited to a small space than a canine companion.

That said cat owners often don’t have a lot of choice when it comes to incorporating specific must have cat items (like litter boxes, scratching posts and climbing toys) into their decor.  Cat products are usually ugly, but you need them. So you’re stuck, right? Wrong! There are some well designed cat products out there - you just need to find... or make them!

• Ikea Hackers posted a great repurposing (I’d hardly call this a full hack) of simple shelving - by placing them in a stepped pattern along the wall, it’s easy to make a climbing area that’s high on style and low on cost.
• Of course, the biggest issue for cat owners isn’t usually the scratch post - it’s the litter box... If you’re the handy type Ikea Hackers posted has posted a how-to converting a sink into a covered litter cabinet!
• Then again... if you're like me and DIY isn’t your speed, the always useful Apartment Therarpy has curated a great roundup of alternatives to the classic litterbox.
• Finally, if you’re the sort of person who loves design and their cats - no expense spared, there is the totally over the top blog Modern Cat - their recent litterbox pick was a reasonable $200 - shipping not included.

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1. To set up a social space, the first thing you have to do is sign up for a free 1to1Real trial account here.I set up an account for a lady named Elanor who REALLY likes the CBC, and gave her the custom 1to1Real address of http://elanor.1to1real.com (if your name is Elanor and you want this space, let me know and I’ll be glad to surrender it!)

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Ah January – a time for prognostication. Everyone channels their inner Nostradamus and attempts to make sense of the swirl of information around them – trying to figure out what’s relevant and what’s not. Sure there are tons of prediction lists that come out at this time of year, but we at Realestock are going to try something a little different with ours - we’re actually going to hold ourselves accountable. In December of 2011, we’re going to look back and try to determine which of our predictions were right, which were so-so, and which were so very, very wrong.

So what do we think will happen in real estate this year? We’ve boiled it down to 6 firm predictions:

1. The market will stay flat, but people will still look towards a recovery, and every small rise and fluctuation will start people talking all over again. The markets are looking up, and stocks are rising, but job growth is still looking slow and that means we don’t think the market is going to leap up towards previous levels. The CREA is predicting Canadian home sales to fall by 7.3% overall in 2011 and we agree with them.
2. Low prices means affordable prices – those who can buy houses will continue to do so, driving modest sales and making starter homes attractive. Due the excesses of previous years, people will be a lot more conservative in their choices – looking to stay well within their means and choosing more affordable homes.
3. Renting will be cool again. Yes, really. Even with low rates and affordable prices, many will opt to rent for longer to save up bigger down payments to keep their mortgages low and affordable in the long term. People have learned the lessons from the disasters of Adjustable Rate Mortgages in the US, and we think people will wait longer to avoid being caught by sudden rate hikes.
4. Governments will continue to keep interest rates low and mortgages attractive – even in places with hot real estate markets like British Columbia – we think rates will stay right where they are in some places and very gently rise in others to avoid unbalancing a slow economic recovery.
5. It’s tough out there for mortgage brokers and real estate agents. And it will continue to be. Sorry guys.
6. Realtors and developers and brokers will get smarter – not work harder to stick it out. In order to differentiate themselves in a tough market, real estate experts will continue to blog, tweet and socialize themselves into a market position. Social media aggregation will be a big trend this year, with more and more companies using neat tools like these social media hubs to collect all their content together and make their lives easier.

Sources: Top 10 Real Estate Predictions for 2011, Elizabeth Weintraub; BCREA Housing Forecast; 2011Real Estate Outlook, Jerry Barker; 2011Canadian Real Estate Market Forecast and Prediction, Kurt Hemmerling

Picture: KayVee.Inc

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New year, fresh start? If you’re thinking of moving, or waiting to make a big move in the new year, selling your home is the first step. So, how can you make your goals a reality? Here are some simple tips to make your home sell.

1. Price it right: The first step to selling a property is setting it at the right price. Prices should be set against the prices similar properties are selling for – not what they’re being listed for. In a buyers market, a competitively priced house will sell long before one going for more than the market will bear. There are people who want to buy, but they want to buy at the right price.
2. Fix it up: Nobody wants to buy a property with a huge to-do list built right in. Even small repairs can put off buyers, so get a critical friend to come and help you see what touch ups and repairs need to be done.
3. Make it look great: This is just common sense – tidy, remove clutter and clean the crap out of your home. Stage your furniture to show off your home’s best assets – you’ll impress buyers and show off the best assets of your home.
4. Offer incentives: Adding too many premiums can make sellers look desperate; however incentives like help with closing costs can encourage buyers. If you want to make your realtor work for you, offering a bonus on the commission for a speedy sale can work wonders.
5. Be prepared and be flexible: Have a plan in place – know ahead of time what price cuts you’re willing to agree to, and what you won’t. When you plan ahead, you’ll be able to move quickly on the offers you receive.

Thanks for reading the Realestock blog in 2010. We’ll be back in the first week of 2011 with even more great tips, tricks and industry advice!

Photo: The Truth About Mortgage

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Now that Halloween decorations are packed away, but it’s probably too early to haul out the Christmas stuff (anyone caught putting out Christmas decorations before December 1st in my home is summarily flogged), your home might look a little empty. Is there a way to change your decor for winter in a way that doesn’t scream “CHRISTMAS IS COMING!”?

Fortunately, there is. Here’s some easy tips to make your home a cozier, winter-ready wonderland without the cheese factor.

Citrus Fruit

Not just for stuffing in stockings! A bowl of oranges or satsumas can make a stunning, edible centerpiece that’s a step away from a traditional winter display.

Fuzzy, furry & Warm

Switching out pillowcases, blankets and rugs for fuzzy covers and rugs with a longer pile can make everything seem so much more snuggly, which means warmer, softer and more seasonal. Cozy knitted throws draped over sofas and armchairs add texture and winter appeal by brining to mind sweaters.

Switch Accessories

Take out seashells, straw, and light coloured vases and switch them for pottery, earthenware or dark coloured brick-a-brac for a dramatic look. Or, go the opposite way - go all white and pick up the crispness of the season and keep your home looking fresh

Lighting

Everyone assumes candles are the perfect winter decor, but they can make your home feel even darker than it is if you’re not lighting the rest of the house properly. Light some candles to make you feel cozy, but keep the lights on too - it’ll brighten up your rooms at the time of year you need the extra wattage the most.

Mix up Colours

Forget forest green - echo the colours found in nature to add some seasonal punch to your decor. Mustard, pomegranate and earthy browns can look rich, warm, inviting and seasonal. Pile nuts or pinecones into glass jars, bring in some winter branches and add some touches of gold to your decor. It’ll look rich and seasonal, not tired and cliche.

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If the constant griping by renters wishing they could get into the home ownership game hadn’t tipped you off – in many parts of the country, people think that Canadian real estate is just too expensive. But are they right? Well, the complainers have won this round - venerated magazine The Economist has decided to agree with them. 

According to a survey of global real estate markets, housing prices in Canada climbed 4.5% over prices in 2009, making the average Canadian house cost a whopping 23.9% more than it’s worth – at least according to the Economist.  The magazine determined the “fair value” of a home by comparing the ratio of current house prices to current rents with the long term price to rent ratio – ie, the purchase price is divided by the rent it could earn per year.  If it is significantly more expensive to purchase a home rather than rent one, housing may be over-valued, a situation the Economist kept finding in Canada.

Think that’s not scary enough? The Economist also indicated housing prices in Canada had increased 70% between 1997 and 2010. Clearly The Economist isn’t the only source finding housing overvalued in Canada – one of the graphics above shows the Google instant result when searching for Canadian real estate news – the only other suggestion? “Canadian Real Estate Bubble.” 

While Canadian real estate prices were dramatically over valued, they weren’t the worst offenders. The dubious honor of most overvalued housing in the world went to Australia. According the magazine, anyone who buys in Australia is paying 63.2% more than it is actually worth. Countries like Hong Kong, Sweden and France also led – traditionally places that have high real estate prices. 

Read the full article by The Economist here.

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The NYC Real Estate Expo is back for it's second year on Friday, November 5, and Realestock will be there – are you attending? Hosted at the New York Marriott Marquis in Times Square, the expo is the premiere venue for real estate experts in New York.

Over 160 vendors will be exhibiting and dozens of industry leaders will be giving talks and seminars. Realestock CEO Tim Vasko will be speaking at 2:00 pm in the Carnegie Room, leading a discussion titled: The Rest of your REAL Estate Career:  How the REAL impacts of the economy, social networks and technology will affect you and real estate in the next 20 Years. Seating is limited, so be sure to come early.

"The NYC Real Estate Expo is a great opportunity to learn from the stories and tested methods of our hugely successful speakers as they cover the most relevant topics affecting the real estate market today," said Executive Director of the Expo, Anthony Kazazis.  "Though many debate about the current state and future of our real estate market, one thing remains clear, it is imperative for industry professionals to keep abreast of the latest trends and changes, and stay on top of the best products and services that our area businesses have to offer.

"Pre-registration for the event is only $30 online ($50 at the door.)  For more information on registration, exhibiting or for our seminar schedule, please visit www.nycrealestateexpo.com.  "The NYC Real Estate Expo will be the must-attend real estate event in New York City,” said Kazazis "Come join us for this dynamic real estate shopping, information gathering and networking opportunity."

Photo: Ross2085, Flickr

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It’s fall! While most people profess that their favorite season is summer, Fall has a lot of fans. Fall is my favourite season by a big margin (more sunshine than spring, less humidity than summer), and that means I always want to get into the Fall spirit by decorating my house. 

That said… I prefer a more minimalist approach to décor. All my furniture is white. Lines are clean. Clutter is forbidden. I might love fall, but I’m not going to start making Martha Stewart style pinecone bouquets and sticking them around my home, or suddenly feeling the pull of big wooly plaid blankets draped over all my furniture. First of all, who has the time for that? Secondly… just no.

So, if you’re like me, how can you feel like you’ve got a bit of fall in the home, without going full Little House on the Prairie?

Here are some fun, LOW HASSLE ideas, from my own mind and the internet:

1. White Pumpkins

They used to be rare, but nowadays they’re popping up in local grocery stores – white pumpkins, sometimes called ghost pumpkins are a neat way to get the shape of the season, but in a new way. You can:

• Line up white mini pumpkins on a mantelpiece
• Turn white mini pumpkins into votive candle holders
• Cut off the top and remove the seeds from a full sized white pumpkin. Don’t carve it though! Put a flower vase into the pumpkin and display some seasonal blooms - (note, these won’t last more than a few days inside – best done for a special occasion!)

2. Pinecones

Yes, I realized I just disparaged pinecone crafts, but this is as easy as it gets. Take a contemporary, low silver bowl or tray and then fill it with the nicest pinecones you can find. Looks seasonal, not kitchy.

3. Branches and sticks

Trees and wood grain have been big design trends for a while now, so don’t pay for artfully arranged, carefully chosen dead branches from a florist, go pick your own out. They’re plentiful this time of year, and FREE. Besides, what says fall more than a branch without leaves? The easiest way to bring the outside in. Best yet? These displays don’t need water.

Photos: Pumpkin Vase, Martha Stewart.com; Branches, Vastu Design Clique

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The Royal Bank of Canada has raised serious concerns that for most people housing is simply too expensive in Vancouver.  

On Monday, RBC released its quarterly report on housing and affordability. According to the report, on average, the typical Canadian homeowner spends 48.9 percent of their household income on servicing the mortgage on a median two-storey home – an increase of 2.1 percent overall due to rising mortgage rates.  

However, in Vancouver it’s a very different story – the proportion of income required to service the mortgage on a median two-story home or a detached bungalow (a smaller starter home anywhere else in the country) has risen to an astonishing 70 percent.  The situation is not much better for owners of apartments or condominiums – servicing the mortgage on a condo consumes 43 percent of household income.

The report singled out Vancouver’s white hot housing market, but it wasn’t to pass around congratulations: "RBC housing affordability measures are very close to their all-time high, which points to significant underlying stress and raises a red flag," said RBC Economist Robert Hogue. “Generally we have dismissed the case of housing market bubbles in Canada, but the situation in Vancouver is probably the closest to one in the country.”

This means the market could take a big hit unless the pressures ease - "very poor affordability is likely to restrain demand in the period ahead," said Hogue. According to the report, BC and Ontario saw the worst deterioration in housing affordability as prices neared the record highs seen in 2008.

Photo: Even condos in Vancouver may be out of reach for most homeowners. Credit: Beaster725, Flickr

Sources: Bank Raises Red Flag Over Housing Affordability, The Vancouver Sun; House Costs Near Record High in BC, The Province; Housing Becomes Less Affordable, The Globe and Mail.

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The Chinese real estate sector could be in for a big shakeup soon. Many pundits are predicting that the government is getting ready to introduce a property tax. 

While most people in the world regard property taxes as a way of life, in officially Communist China there’s no government taxes on the books for private property ownership because originally there was no private property ownership at all. However, things have changed dramatically in recent years - market demand and rampant speculation have fueled a huge real estate industry, and have helped push the Chinese economy into overdrive – annual growth is over 8% a year (as opposed to the 2 or 3 percent that more established economies grow at during boom year).  

So why introduce a property tax then when it could weaken one of China’s strongest economic sectors? According the Financial Time’s Geoff Dyer, there are a lot of good reasons to get the Chinese middle class acquainted with tax:

A property tax is the favored policy tool of many a reform-minded economist. It would help reduce the rampant speculation in the real estate sector by introducing a cost for holding empty property. And it would help develop a reliable source of income for cash-strapped local governments - one of the key long-term policy challenges for Beijing.

While any property tax rolled out would likely be very minimal at first, “a small annual levy on second or third homes in the luxury sector”, there are still fears that is could prompt a massive sell off and scare away speculators – one of the key factors in the ever increasing property prices.  

In April, Beijing rolled out a series of much needed measures to cool overheated home prices, and since then, speculation that a real tax is coming has intensified. "There are several plans on the table. While we don't know which one will be chosen, it is more likely to be implemented by New Year's Day," a market source said in an interview with the Hong Kong Standard. "Such a move does not require National People's Congress approval, only the State Council's, so the time frame is shorter."

Meanwhile, commercial real estate in China remains strong, even with high vacancy rates.  The Wall street journal has reported that China’s insurance regulator has just amended the rules that govern how insurance corporations invest their assets. Chinese insurance companies are now allowed to invest up to 10% of their assets into commercial real estate – a move which could introduce as much as 460 billion yuan ($68.5 billion USD) of potential demand into the commercial real estate market.

Sources: 

Does Beijing's Clampdown on Property Still have Force? - Geoff Dyer, The Financial Times

Property Tax Revisions Loom as Prices Continue to Spiral - Beth Ye, The Hong Kong Standard

Insurers are Likely to Boost China Property Demand - Aaron Back, The Wall Street Journal 

Picture:

Lensfodder, Flickr

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