Ah, the infamous corner lot. You know, the one you always see while driving in and out of your street? That house that ends up getting all the attention; both good and bad...
When people are asked their opinion on what they think about homes located on the corner, one thing is certain: opinions vary. But facts are hard to deny, so let’s examine the facts, shall we? Corner lots are usually the first units to go up in a new subdivision, sold to the public by builders at a premium. They tend to have slightly wider lot sizes, with less depth. Often, the front door is located on the side of the home and the backyard may, at times, be replaced with a side-yard.
Now, although opinions may vary because people’s preferences are different, everyone can agree on both the pros and cons that corner lots have to offer. On the pro side, they are often larger than their neighbours, giving visitors a grand feeling. This is why they are often the showcase pieces of the neighbourhood. By being the most visible, they obviously will get the most attention. This is perfect for proud homeowners who take good care of their property and love to entertain. Perhaps for those who enjoy spending spare time on their street and socializing with neighbours. Also, corner lots can be perceived to have more privacy, in light of the fact that the homeowners only have one set of neighbours to contend with, as opposed to most lots that have neighbours on either side. A few examples of properties that are true premium corner lots are those large homes in affluent neighbourhoods with oversized lots and end-unit townhomes.
That being said, let’s examine the cons. Being that a home on the corner is the most visible, by definition, it’s the most exposed. Residents may feel a slight lack of isolation. Corner lots usually attract the most action and are often the busiest sections of the street. It can be a common occurrence for pedestrians to use the front-yard of a corner lot as a shortcut when on foot, as sometimes walking across someone’s lawn can be quicker than walking around it. Generally, corner lots come with slightly more land, which will need more maintenance and upkeep. Lastly, the unorthodoxy of the slightly-altered layout that a corner lot entails can, in a down market, prove to be less attractive to potential buyers than their “cookie-cutter” neighbours. In many cases, buyers making an offer or bidding on a corner lot, will use these discriminatory factors and attempt to justify an offer that is significantly lower than list.
So, to summarize, corner lots are valued differently by different people. More often than not, a corner lot's true market value will be highly dependent on the neighbourhood that it is situated in, the crossroads that the lot intersects and the amount of privacy that exists surrounding the lots (shrubs, fencing, etc.) In other words, the value of a corner lot is very circumstantial and there is no single perspective of vantage point. But generally speaking, in a buyer’s market and if not a true premium corner lot, they can pose a bit of a challenge if the right marketing techniques are not applied. Here at the TheRealtorGroup.ca (powered by Re/Max Ultimate Inc.), we specialize in selling all types of properties, even the difficult ones. You see, we don’t just want to sell your home; we want to locate that perfect buyer who will pay top dollarfor it. There’s a big difference between the two. This is what we do full-time and it’s what we do best. In the past month alone, we got 3 of our sellers multiple offers on three separate listings. We will do the same for you.
Understanding the Offer to Purchase Form is essential once your house hunting expedition is a success! You have found the perfect home, one that satisfies your needs, most of your wants- and best of all, fits your pocketbook. Now comes one of the most important phases of your home-buying experience: making an offer to purchase the home.
If you are buying a home, then, before you decide on whether this home is your dream home, the following checklist will help you look at prospective homes with a critical eye. We suggest printing this page and putting it on a clipboard. When you find a home that really interests you, mark the features you see and note their general condition on this list.
Home value sometimes referred to as "Value in Use", is best described as the probable price at which a home trades in a free, competitive, and open market and is synonymous with the market value.
SELLING YOUR HOME ON YOUR OWN - OR USING A REAL ESTATE SALESPERSON
SELLING YOUR HOME - WHEN IS THE RIGHT TIME?
HOW REAL ESTATE MARKET CONDITIONS AFFECT YOUR OFFER PRICE
If you have decided that now is the time to sell your home, you might be thinking: should I hire a Real Estate Sales Representative or do it alone. Have you ever considered repairing your own car? Anyone can buy the tools and parts. However, most of us just do not have the knowledge, training, experience or the expertise and commitment of time to do the job properly. Besides, there are plenty of experienced professionals to do the work for us.
When should I sell my home? Your answer to this question might be right now! If you have taken a job in another city or made an offer on a new home, or had an addition to your family, selling your home fast might be the most important goal you have. Most people, however, have some flexibility when they sell their home. Let us take a closer look at the most important factors that can go into this decision.
A hot market is a "seller’s market". During a seller’s market, properties can sell within a few days of being listed and there are often multiple offers. Sometimes homes even sell above the asking price. Though most buyers want to get a "deal" on a home, reducing your offer by even a few thousand dollars could mean that someone else will get the home you desire.
There are many television shows today that focus on home staging. If you have not watched any, do yourself a favor and tune in. They all say the same thing: do not even consider putting your house on the market until you have taken a close look at its condition. Experienced sales people know that you only have one shot at impressing potential buyers, so take some time to prepare your home for showings. You will be rewarded with a faster sale and a higher offer.
A very accurate saying is that "Any home will sell once you get the price right." Of course, this is usually said from the perspective of dropping a price until it's too attractive to pass up. Actually, the accurate pricing of your home prior to listing is as much an art as it is a science.
A great many moves in our lives are to larger residences to accommodate growing families. Or, perhaps our financial development allows us to move up to a larger home with more features and amenities. There is no stress involved in trying to reduce our life’s stuff to fit into a smaller place. If anything, we just need to shop for some more furniture for the new larger place.
