Mandana Tehrani - You've Found a Home

How Many Square feet are in that house? Are you SURE? And does it really matter?

Home buyers usually have some idea of the approximate number of square feet they're looking for in a new home. It might be a number similar to the home they currently occupy, or it might be a larger number – based on feeling too cramped in their current home.

And of course, some might want a smaller home because they want less to clean, maintain, heat, and cool.

You might argue that the buyer doesn't really need to know the square footage. He or she can see and feel the space upon touring the home. And that's true. But not absolutely true.

If a home has been staged well and all "extra" furniture and clutter removed, it will look and feel bigger. Buyers might move in with their own furniture and find that it doesn't all fit.

And, sadly, when the square footage is misstated on a property brochure, an on-line listing, etc., it can lead to lawsuits. That's called false or deceptive advertising.

So why take a chance? When you list your home here in Vancouver, don't rely on public records. They just might be mistaken. Assist your agent in taking a true measurement. And to make things even easier for your potential buyers, measure and note the various room sizes.

Then your buyer will know whether their king size bed AND their dresser will fit in the bedroom. They'll know whether their oversized couch or their baby grand piano will find a place in their new home. They'll know whether the dining room will accommodate both the dining table that seats 12 and the chairs that go with it.

Having that information available just might be the detail that sells your home.

And when you're the buyer, take your own measurements. If you have the kind of oversized furniture I just mentioned, keep those measurements with you, so you can decide instantly whether or not they'll fit into a home you like.

Whether you're buying or selling here, take the extra few minutes to verify square footage.

I'll help.

The majority of Vancouver home buyers today order and pay for a home inspection. They do it for peace of mind and an assurance that they're purchasing a sound home.

Unfortunately, major defects listed on that report often go unnoticed. Why? Because the buyer didn't read the report carefully, or because the buyer expected his or her agent to read it and sound the alarm if a real problem existed. The buyer may even expect the home inspector to advise them – but that's not his or her job.

Also unfortunately, some agents are so anxious to close on a home that they gloss over the importance of a notation on the inspection.

If there's anything you're not sure about, or if you feel uncomfortable with your agent's assurance that it's "no big deal," call the inspector and ask.

When you and I work together, I'll not only read your report, I'll go over it with you item by item. If there's a concern, we'll discuss it. If it's major, I'll recommend that you get bids for repair.

The seller may or may not be willing to pay for the repairs or reduce the price, but at least you'll know exactly what you're facing.

Sellers who order a pre-listing inspection should follow the same advice.

Never assume that there's no major problem just because no one points it out to you. Read your report, ask questions, and if there's a problem, get bids. Then you'll know exactly what you're facing.

When you want to buy or sell a home in Vancouver, give me a call. I'm always willing to go over your reports and to give you a list of reputable contractors should you need one.

When you're hunting for a new home in Vancouver and using the Internet to search, it's tempting to click through and ask for information or a showing from the agent who has listed the property - and talk with a different agent with each click.

But that's really not in your best interests.

First, you do need your own agent. The listing agent is bound by law to get the best price and terms for the seller – not for you. If you want advice, the listing agent cannot provide it.

When you sign a buyer's representation agreement with an agent, that agent becomes bound by law to do his or her best for you – and to keep your confidential information confidential. (No, you don't want the seller or the seller's agent to know that you can spend more than you've offered, or that you absolutely must find a home by a specific date.)

Next, when you get acquainted with one agent and share your "needs and wants" that agent can sort through the available listings and help you focus on those homes that will suit you.

And if your agent knows you're working exclusively with him or her, you can be sure to be alerted any time a new listing that fits your needs comes on the market.

You'll save time and energy by not viewing homes that clearly don't meet your needs. And, in a seller's market, immediate notification about new listings can mean the difference between finding your new home and getting there "too late."

The bottom line: Sticking with one real estate agent means you'll get service. When you try to work with a dozen agents, you won't.

Call me - I'll help you find exactly the home you want...

When you receive multiple offers on your home you're faced with a choice. You can, of course, reject all of them, but let's assume that you really do want to sell the house, so you're going to accept one of them.

Some might say "Well, take the highest offer, of course." But as you'll see, the highest offer isn't always the best offer. It isn't even always the offer that puts the most money in your pocket at closing.

Often that offered price is reduced by a request for you to pay part of the buyer's closing costs, give an allowance for new carpeting, or to make some kind of repairs.

As your agent I'll do the math so you can see the net proceeds from each offer.

Then there are contingencies. Standard contingencies include a response date, the buyer receiving appropriate financing, and the seller being able to provide clear title.

Most offers are also contingent upon approval of a home inspection, but some are contingent upon factors outside the purchase.

• Some are contingent upon closing the sale on the buyer's present home.
• Some are contingent upon the buyer receiving the proceeds of a settlement.
• Some are contingent upon approval from a 3^rd party.

You never know what kind of an "escape clause" a buyer might include in an offer.

As your agent I'll help you evaluate all the contingencies. When necessary, I'll look into the status of a pending sale or settlement prior to you making a decision.

Unfortunately, some of these events that buyers anticipate never happen - so they do need to be considered carefully.

Finally, there's the closing date. You may want more time to move, or you may want a fast closing so you don't have to make more payments.

The bottom line: The highest offer on your home may not be the best offer.

I'll help you evaluate all the terms so you can choose the best to either accept or counter.

Some home sellers are led to believe that because their home is beautifully decorated, it doesn't need to be staged. Nothing could be farther from the truth.

Staging does involve the kind of de-cluttering and possibly even some fix-up or painting that a beautifully decorated home probably doesn’t need. Thus, people sometimes believe that only "tired," un-decorated, or vacant homes benefit from staging. But staging isn't about decorating.

While stagers do make an interior space look beautiful, this is not their only function.

Stagers are trained to present a home to give it appeal to a wide variety of buyers. Thus, the decorating is "neutral," rather than a reflection of the occupant's personal taste and style. The furnishings are chosen and placed to produce a "feeling" without drawing attention to themselves.

Part of this process is the removal of personal items that take the focus away from the house. You as a seller really don't want your potential buyers examining your photos, trophies, awards, or collections when they should be noticing how the house exactly suits their wants and needs.

Buyers who are distracted in this manner can pass up a house they'd love, simply because they didn't "see" all the features and benefits.

In addition, stagers know how to emphasize a home's most appealing or useful features and benefits, while showing potential buyers the possible uses for each space.

The bottom line: Just because your home has been professionally decorated doesn't mean it won't benefit from a stager's touch.

If you're thinking of selling and would like your home to appeal to a wide variety of potential buyers, get in touch. I'll be glad to share my list of professional stagers who have helped my clients sell their homes faster and for more money.

And of course, I'll be glad to let you know what's going on in the Vancouver housing market today.

The First Rule in Choosing a real estate agent

You have many things to consider when choosing an agent to help you purchase or sell a home, but the very first one is this: Choose an agent who is familiar with the area where you plan to buy or sell.

It's easy to be lured by fancy advertising, and it's easy to give in to pressure from friends or family who want you to use someone they know or love. But if that agent isn't familiar with the homes in the area in question, you won't get the representation you deserve.

First – the listing. Your agent needs to interpret sales data to determine the proper price for your home. And while it's true that the numbers are there in MLS, if the agent has never seen any of the homes in question, he or she won't know if they are comparable to yours.

In addition, that agent may mistakenly use sales statistics from a nearby neighborhood that isn't at all comparable to the neighborhood in which you want to buy or sell.

Buyers also need an agent who is familiar with the territory. Part of the reason is for pricing. If he or she doesn't know if a price is in keeping with neighborhood values, you could pay far too much for your new home.

But there's more to it than that. An agent who knows the territory will be able to tell you if new developments are planned that could affect future values. He or she can also answer lifestyle questions such as "How far to the nearest gym?" and "Is there a dog boarding facility near here?"

Because I know Vancouver, I can answer those questions. But Cousin Joe who lives in a nearby town probably cannot. Don't choose him just because he "needs" your business or because it would make a friend or relative happy.

Real estate is far too serious and your investment far too large to entrust to someone who is not familiar with city and who might not know the things you need to know in order to make a wise decision.

We wish we had a crystal ball and could answer that question. As of right now, we only know that it's a good time to buy a home because interest rates are unbelievably low.

A home mortgage for $200,000 would have carried a principal and interest payment of $1,264 when rates were at 6.5% just a few short years ago. Now, with rates hovering around 4%, that payment would be only about $955. And some borrowers are finding even lower rates.

Those who stay in their homes for the long term will be smiling broadly a few years from now, when their incomes have risen and their house payments are still low.

Will prices drop again? Will they go up? No one knows. But in our opinion, if you're in a home and plan to stay, fluctuations in the market are unimportant.

What is important is that you love the home and the monthly payment fits comfortably within your budget.

We think of long term home ownership like we think of Grandma's antique silver service. It doesn't really matter what it is worth in the marketplace from one month to the next, because it is not for sale.

Whether you're buying or selling – or have already done so – I wish you a happy, healthy, and prosperous 2013.

Call me any time you need my help – and any time you just want to talk real estate. Feel free to ask a question about your neighborhood values, the market here in Vancouver, or anything else related to real estate.  In fact, call if you'd just like to say "Hi."

All the best in 2013,

It's Nearly Christmas. Is this a good time to buy or sell a home? 

Yes, of course it is.

Now is the time when non-serious buyers and sellers are off doing other things. The sellers who have their homes on the market and the buyers who are touring homes right now are the ones who are serious about moving.

Negotiations should be easier, because you both have the same goal in mind: transfer of the property. Buyers in general aren't just looking around to see if they can find a good deal. Sellers aren't just "testing the market" to see if they can get a good price.

Inspections and appraisals should be easier to schedule, because fewer people are buying and selling right now. Thus, provided that the buyer began their search with a lender's pre-approval, closings should go faster.

Sellers should consider listing in December because their homes will have less competition.

Buyers should consider finding a home in December because they'll have less competition as well.

All in all, if you're serious about buying or selling a home, don't hesitate. While others are attending Christmas and Hanukkah parties, you could be making your real estate goals come true.

Call me, and let's get started!

If you just came from your lender and learned that you can spend more for your new home than you thought, it could mean one of two things:

• Interest rates are lower, so you can "buy more house" for the same money.
  If this is the reason – it's time to celebrate.
• Your lender didn't consider the other priorities in your life.
  If this is the reason – stop and think before you take his or her advice.

Some of us simply need more money left over after the monthly bills are paid. Stop and think about how you're spending that "extra" money right now, and whether you're willing to change your habits.

If you cherish a weekly night out, love to attend concerts, or need that week on the beach or a ski mountain every few months, you'll grow to resent the mortgage payment that takes those things away from you.

Maybe you want to send your children to private schools, or would like to go back to school yourself. If your mortgage payment prevents those activities, the love for your new home will wane.

Before you take a lender's word for how much you can spend on your mortgage, look at your budget.  

Consider what you're spending for housing right now and whether you're comfortable with that amount. Next think about what you're doing with the rest of your money. If you've been saving for a down payment, you might not mind spending that extra on your house payment.

But… maybe there's something else you'd like to save for now. Or maybe it would feel good to know that you don't actually need all the money you earn in a month.

Just remember this: You know better than anyone else what you can and can't afford. Don't let anyone push you into a payment that is above what you know you want to spend.

Whatever your price range, I'll be pleased to help you find your dream home, and I'll never try to push you into over spending. Just give me a call and let's get started...

How many bedrooms, baths, extra rooms, and square feet do you actually need in your new home?

With today's low interest rates you may be able to buy a much larger or much more extravagant home than you'd been considering. But should you?

First think about how you'll use the home.

Do you have enough furniture to fill 2 or 3 extra rooms – or to fill extra-large sized rooms? And what about those extra rooms? Do you really need a wine cellar? Will you actually use the office or the exercise room? If you'll use them, you should go for it. But if they'll sit empty, they'll become "junk repositories" and a drain on your resources.

So before you choose, consider your lifestyle and what you'll actually use and enjoy.

Then think about the amount of time and money you'll need for upkeep on that home. The larger the home, the more there is to clean and to maintain.

Start with cleaning. If you're a do-it-yourself house cleaner, how much time do you want to devote to vacuuming, dusting, and scrubbing? How much time do you have to devote to those tasks? Will it be a family responsibility, or will one family member start feeling put-upon?

If you don't have the time to keep up with a large home, can you afford to hire someone to come in every few days? Do you even want someone working in your home? I know many people who say "It would be so nice to have a cleaning lady, but… I don't want some outsider going through my closets and drawers when I'm not home."

And then there's maintenance. Every home needs it from time to time – and the more house you have, the more maintenance will be required. Unless you're a skilled "do-it-yourselfer" you'll need to pay someone to do those routine tasks.

So think about it. How many bedrooms, baths, extra rooms, and square feet do you actually need in your new home?

Whatever your answer, I'll be pleased to help you find it. Call me!

Questions to ask before choosing a real estate agent: What are your working hours?

When you list a house for sale or set out on a journey to find a new home, your best success will come when you're able to work closely with your agent. That means your agent needs to be available during the same hours that you are available.

Some real estate agents today only work from 9 to 5 – and some don't work on week-ends. So if you work 9 to 5 Monday through Friday, connecting with such an agent will be difficult at best.

And what if an agent's time is limited in other ways?

Today, some agents are working at other full-time or part-time jobs themselves, so if you try to reach them during normal business hours, you'll find them unavailable.

Some also have religious beliefs that prevent them from working on Saturday or Sunday.  

Do ask the question. And then choose an agent whose working hours correspond with the hours you have available to meet with them.

Just so you know... my regular hours are from 10 in the morning to 7 in the evening daily. I can also meet with you at other times by appointment.

So call - and let's set a time to meet.

Your Agent's Reputation: Yes, it matters

Everyone has a reputation – and your agent's reputation with other agents here in Vancouver really does have a bearing on your success in buying or selling a home.

If you're selling a home your agent's good reputation for dealing fairly with buyers' agents means your home will be shown. On the other hand, if your agent makes it difficult to arrange showing appointments or if he or she has a reputation for failing to present offers immediately, your home will go to the bottom of the list.

If you're a home buyer, your agent's good reputation is also an asset. And what makes a good reputation in a buyer's agent?

• Offers that are always filled out properly and completely.  
• Honest representation of a buyer's ability to purchase.
•   Willingness to get in and work when there's a glitch between agreement and closing.

When buyers' agents have a poor reputation, listing agents encourage their sellers to consider other offers first.

And for both listing agents and selling agents, a reputation for returning phone calls or emails promptly is a plus. So is a pleasant manner. No one wants to deal with someone who is hard to reach, or who is confrontational when they are reached.

I'm pleased to enjoy a good reputation with other agents here in Vancouver. In fact, due to transactions we've done together, many of them have become friends. As a result, buyer's agents show my listings, and listing agents welcome offers from my clients.

So when you want to buy or sell a home in Vancouver, get in touch! I'll help you reach your goals.

Today we hear a lot about consumers who, when looking for a real estate agent, simply start calling agents and then choose the first one who answers their phone.

Is that really the best way to choose a real estate agent?

No, it isn't. Before choosing, both buyers and sellers should take the time to learn a little about the agent. To learn more, you can visit their web page, read their blog posts, and read their agent bios. And if you're choosing a listing agent, you can go see how their listings are represented on line.

But back to the telephone…

If an agent answers immediately when you call, it may mean that he or she is between appointments or is working on "behind the scenes" tasks like ad writing, creating a market report, or doing research for a market analysis. It could also mean that they have no other clients!

Or worse – it could mean that they disrespect their current clients enough to take a call while showing homes, discussing a new listing, writing an offer for a buyer, or presenting an offer to a seller.

Is that the kind of disrespect you want from your real estate agent?   

Please know that when I represent you in the purchase or sale of a home I will never answer a call while I am with you, unless we're expecting a call that concerns your interests.

Further, I will always answer your calls if I am not with another client. When I can't answer immediately, I will return that call as soon as possible. The same holds true for email communications.

I'm available to you from 9 in the morning until 6 in the evening. So call – and if I miss you, I will call back soon.

You can reach me at 604-551-4129

Except in rare cases, when you purchase a house here in Vancouver, the previous owners will take the furniture with them when they move out. They'll also take the mirrors, the paintings, the area rugs, and those beautiful potted plants.

So while these decorating touches give appeal to the house and suggest what you can do when it belongs to you, you should be careful not to let them be the deciding factor.

Smart homeowners do stage their homes before putting them on the market. The purpose is to showcase the home's best features and create a positive first impression. Homeowners and their agents want visitors to think "Oh…this is nice" when they see the home for the first time.

And that's good. It makes potential buyers stick around long enough to really look at the house and its attributes.

But if the house 3 doors down has a floor plan that suits you better, you should choose that house even if you think the present furniture and décor is ugly.

The same goes for paint colors. Never dismiss a house because of a hot pink bedroom or a lime green bathroom.

When choosing your new home, focus on the things you can't change – like the location and the room sizes. Then plan to make the home uniquely your own by adding your own décor.

When you're ready to find your new home, call me! I'll help you find the one that exactly suits you.

Whether you're buying or selling a home here, you need to know the difference between these terms.

They sound so much alike that they're often used interchangeably – but the difference between them is vast.

Pre-qualification doesn't mean much of anything.

To become pre-qualified, a borrower can simply get on the phone with a lender and outline their financial picture. They tell the lender what their current income is, what their current monthly obligations are, how much money they have to put toward a down payment, and how they believe their credit scores stand.

From that conversation, the lender says that he or she thinks they would probably be able to get a loan for X dollars.

Note that none of this has been verified. The numbers used may or may not be accurate, depending upon whether the borrower has taken time to go through their own paperwork and write things down. Even then, unless that borrower has purchased his or her FICO scores within the last few days, the credit assessment may or may not be accurate.

Pre-approval, on the other hand, means something. It indicates that the lender has verified all the pertinent information, including the borrower's current credit report.

From that assessment, the lender has issued a letter saying that if all things remain the same, the borrower will be approved for a mortgage loan for X number of dollars.

If you're a buyer looking for a home, get pre-approved and shop for your home with confidence. If you don't know a good lender, call me. I'll give you a list of lenders who have served my clients well.

If you're a seller – wait for that letter of pre-approval before you take your house off the market for a buyer who has only been prequalified.

When you're looking for a real estate agent who will protect your interests - get in touch!

Curb appeal – that first view of a home that buyers get – is the first impression that sets the expectation and the tone for the entire viewing.

As humans we tend to see what we expect to see. A first impression sets up that expectation, and our minds will subconsciously seek to find evidence that our expectation is correct.

A neglected or run-down exterior tells buyers that the entire house has not been well-maintained, while an inviting exterior tells buyers that what they see inside will be equally inviting.

And generally, that's what those buyers will see. They'll subconsciously seek evidence that their expectation is correct, and may even overlook subtle signs that they might be incorrect.

That is, if they even get inside to have a look. I've been on showings when the exterior looked so bad that the buyers refused to go inside. They knew that what they saw inside would be a waste of time.

And that's a shame, because sometimes the interior and exterior don't match.

While all home sellers should definitely make an effort to create a "wow" impression with curb appeal, some simply cannot.

It may be that one spouse is responsible for interior and the other for exterior – and they don't match.

It may be that the homeowners are ill or elderly and have assistance with interior maintenance, but not with exterior maintenance.

It may be that they don't have the physical or financial capability to keep lawns mowed, shrubs trimmed, fences straight, and trim freshly painted – but they have been able to keep up inside.

So – if you're a seller, do all in your power to make that first impression set an expectation for good things to come.

I happen to have a handy "Seller's Curb Appeal Checklist" you can use to make sure you don't overlook anything important. Just give me a call at 604-551-4129 or drop me an email at mtehrani@sutton.com and I'll send you a copy.

If you're a buyer, try to keep an open mind.

When you're searching for a home here, work to over-ride your mind's expectations and really look at what you see inside – regardless of what you've seen outside.

A few years ago, becoming pre-approved for your home mortgage loan was a smart thing to do, but you could find a home and even get an offer accepted without it.

Now that's not the case.

With today's tighter lending standards, sellers want to know you have the ability to purchase before taking their homes off the market. Today, you have to prove that you have the credit and the income to support payments on the house you've chosen.

You can't blame the sellers for this attitude. Short sellers in particular are under a time crunch. If they take a chance on a buyer who ultimately can't close the purchase, they have to start all over. And in that time, their house may go to foreclosure.

And if you're hoping to purchase a bank-owned home, that pre-approval needs to be submitted along with the offer. Otherwise they won't even look at the offer.

So if you're planning to purchase a home, begin by meeting with a lender or a mortgage broker.

With your pre-approval in hand, you'll not only prove that you can purchase, you'll know exactly how much you can spend on that new home.

If you don't have a lender or a mortgage broker in mind, just get in touch. I'll be happy to give you a list of lenders and mortgage brokers who have served my clients well. (And yes, it is best to use a local lender or mortgage broker.)

Please call if you have questions,