INSIDER WAYNE COCHRANE’S REAL ESTATE

January 2012

Your Neighbourhood Real Estate Professional

Wayne Cochrane...www.mooving.ca

Inside this Issue:

Buyers: Making The Right Choice

Choosing To Sell

Kitchen Makeovers That Don’t Cost a Fortune

Canada’s Colour of The Year is Red...or Blue...or Purple

Home View: Caretaker or Financial Partner

Learn From Mistakes of Others and Avoid Your Own

There are so many different homes to choose from during the buying process. How can you be sure to make the right choice?

From condos, downtown neighbourhoods, suburbs, and country homes, there's a perfect fit for every buyer.

To make the best decision you need to be sure to really give time to your decision making process. Yes, your gut can take you in the right direction, but don't be one of the many buyers that falls prey to listening only to their hearts, ending up biting off more than they can chew.

Some homes take more work than others. This goes double for older homes. The same can be said for many foreclosed houses. The price tag might be appealing or you might love the styling of the home, but keep in mind that much of a home's value is actually in its condition.

This is why it is imperative to have an inspection done on any home you are considering buying. Additionally, you should have a clause in your contract that states if the inspection comes back unsatisfactorily that you, the buyer, have the right to end the contract to buy.

Different homes also comes with different lifestyle factors. Some buyers love the idea of having everything within walking distance. They like spending their extra time meeting friends for dinner and drinks or perusing the latest art exhibit. Could a condo be a good fit? It's a definite possibility.

Homeownership comes with its share of time intensive responsibilities. Lawns need upkeeping. Repairs need made. A condo can give you the location you desire without all the extra maintenance you'd

find with a single-family home. That means extra time for the things that really matter to you!

Condos, while low maintenance, however, can also have their downsides. You will share walls, common areas, and amenities with neighbours. If you are an extremely private person, then condo living may not be for you.

Do you prefer a more isolated setting? Many people love the idea of country life. Just keep in mind that the further you are from people, the further you are from grocery stores, hospitals, and restaurants.

A suburban lifestyle has gained popularity over the last 20 years. Cities expanded to welcome their growing populations that wanted, and could afford, newer homes with their own nearby shopping centers. School systems can be very good and most areas boast lovely street designs thanks to urban planning.

The real key is to decide what lifestyle is best for you and your family. Once you've decided this, you'll be able to zero on the best location. Next, be sure to consider more than just the price tag of a home. Consider upkeep costs, area taxes, needed repairs, and even future saleability. Do your due diligence and you're sure to make the right choice!

Buyers: Making The Right Choice Written by Carla Hill

Page 2

Condominiums and Townhouses

on the Halifax Common

www.ArmourySquare.com or Call Wayne

92% Occupied

JANUARY ISSUE

MORTGAGE RATES Fixed rates:

Rates provided by Invis Mortgage

Subject to change without notice

Rates provided by Invis Mortgage As of January 3, 2012

Subject to change without notice

Special rates, depending on closing date.

1 year: 2.75 %

2 Year: 2.84 %

3 Year: 2.99 %

4 Year: 3.19 %

5 Year: 3.29 %

Today’s market presents a difficult mix of conditions for many sellers. The housing market dipped in recent years in response to recess ion cond i t ions and continues to struggle.

Accessing credit is challenging. Many of today’s lenders require hefty down payments of at least 20 percent along with excellent credit scores for the best rates. Many homeowners with “good” credit may indeed find themselves wholly unable to procure a mortgage.

S om e h om eowne r s f i n d themselves sell ing out of necessity instead of a true desire to move. They may be facing foreclosure or have had sizable decrease in their household income and now need to size down.

Making selling even more challenging is the fact that home prices have been on the decline. Many homeowners may be surprised to find their home is now worth less than they bought it for 10 years ago. Prices are now at 2003 levels in many areas of the country.

If a homeowner bought during the peak of the market, during the boom years, they may find they now own a house worth a fraction of what they paid.

How do you know if now is the time to sell?

First, be sure to solicit the advice of a local real estate agent. They have access to mountains of statistics for your area, including how long homes are taking to sell, what neighbourhoods are hot, median prices, and so much more.

Find out what your home is worth in the current market. This will help you decide whether you can afford to sell or what kind of loss you mind be facing if you are needing to sell now.

Once you have armed yourself with solid stats, it’s time to evaluate your own financial standing. Do you have the money to make a move?

Moving is expensive. You will have closing costs totally thousands of dollars. You’ll need to have money ready for the buying process, including down payment cash, closing cash, and money for incidentals like home inspections and u-haul and storage rentals.

Think about your motivating factors. Why are you wanting to sell? Some people need to sell. They may have been relocated or need to follow job. The recent recession has left other families needing to sell to avoid foreclosure. Families also outgrow their homes and need to size up.

Consider social effects of a move, too. Will your children be changing schools? Will you be moving away from friends and family? Recent studies have shown that owning a home can bring the owner better health, better wealth, and a more stable household. Uprooting a family can affect those benefits.

Choosing To Sell Written by Carla Hill

Page 3

Give me a call...

Wayne Cochrane EXIT Realty Metro

wayne@mooving.ca (902) 830-4761

Selling a home is a large f inanc ia l and emot iona l decision. If the conditions are favourable in your area, then selling can be a great idea. Be sure to do your research and consider all of your options. Whether you decide now is the time to sell or not, it’ll be the right decision for you.

WAYNE COCHRANE’S REAL ESTATE INSIDER

If you're selling your home then you should know that one of the popular rooms that tops buyers' favorites list is the kitchen. So it makes sense to spend time, energy, and even a little money to make it shine.

That thought can make some sellers cringe. The thought of spending money to fix up a kitchen in a home that they're about ready to sel l is unpalatable. However, it could make the difference between a buyer making a higher offer or even any offer at all.

Kitchen makeovers don't need to make your blood boil and break you out in a sweat, fearing the loss of money that will soon be drained from your bank account. You can tidy up your kitchen and even give it a fresh, stylish, updated look, on a frugal budget.

Let me show you how. It starts with simple things. The kind of tasks you can do yourself.

Deep cleaning. Nothing beats a deep cleaning. This means pulling the refrigerator out from the wall, moving furniture and giving the floor, baseboards, crown molding, walls, back splash, counters and all surfaces a good scrubbing. It's amazing how much crumbs and other debris accumulate in the kitchen (even in a well-cared-for kitchen there's usually a fair amount hidden in between appliances).

Scrub down the appliances. It's so unattractive when you walk into a listed home and you can tell what the family had for dinner just by opening the oven. Think buyers don' t open your appliances? Think again! They're considering your home as their

own. They will check out your refr igerator, oven, k itchen cabinets, and your closets. So, be careful what you stuff inside them. I often caution sellers to remove medication from your cabinets before having an open house. I know it's more work but it's safer and retains your privacy.

Buy hardware in bulk. You don't have to hire a remodelling company to come in and resurface your cabinets or replace them; that can be very costly. Giving them a deep cleaning or painting them (depending on their surface) can be an excellent way to freshen them up. Then, if you have worn-looking or outdated hardware, buy some knobs. When you buy the hardware in bulk you can often get a better price and easily replace them to give your cabinets a better look.

Experiment with custom high-end additions. Sounds like I'm talking about high-priced additions but actually you can head to a mass retailer and find additions like trim and even plate rack shelving that has a custom, high-end look at a moderate price. Then clear the clutter out of those cabinets and shelves and display beautiful plates in a spacious plate rack. Think of what you're used to seeing in a print or TV add for home decor. It's like a computer ad that shows the solo computer without all the wires - clean, elegant, attractive.

Add molding to your cabinets. This can turn an every-day looking cabinet into a chic kitchen look. Painting your cabinets can give the entire kitchen an upscale look. However, be sure you know what kind of paint will adhere to

Kitchen Makeover That Doesn’t Cost a Fortune Written by Phoebe Chongchua

Page 4

JANUARY ISSUE

your cabinets.

Custom hood range. Adding a custom hood range–again it doesn't have to be outrageously priced–can really complete the look of your kitchen. It's a subtle difference that makes it look and feel more like a high-end remodelled kitchen.

A bit of planning and careful budgeting can go a long way in creating a kitchen that sparks an interest in prospective buyers.

Follow Real Estate Professional

WAYNE COCHRANE’S twitter page @mooving.ca

and get notified of hot new listings

first!

Brain Teasers

What is the record milk production for

a single cow in one year?

Word Scramble:

Tmnsadtjue deta

WAYNE COCHRANE’S REAL ESTATE INSIDER

Homeowners reflect their optimism for the future in their paint choices, according to the latest colour trends r e l ea sed b y Canada 's pa i n t manufacturers. While they disagree about the top colour of the year – one says red, one says blue – they agree that vibrant colours will soon be gracing the walls of homes around the country.

"The 2012-2013 paint colour palette is full of take-charge optimism," says manufacturer Sico. "Our need to take charge – influenced by our public sharing of personal information through social media, being more aware of our impact on the environment, or taking time out from our busy lives for quiet meditation – is reflected in a paint palette dominated by reds, greens and neutrals."

CIL also uses the term "take-charge optimism" in describing its latest range of colours. "This translates into full-bodied hues with lots of character and meaning, but also into tender, hushed pastels, chic neutrals and edgy brights, which complement each other in stimulating new ways."

PPG P i t t sburgh Pa in ts says, "Homeowners reluctant before will take the plunge – or the leap – into deep and vivid hues this year. On a quest for intensity, they will inject their décor with deep indigos like Blue Tang, saturated reds like Rum Punch, sharp pinks like Tutti Frutti and almost-neon yellows like Citrus Space."

CIL says "the colour of the year is a blushing, lively, juicy red (called Tea Dance). This radiant shade is the most important colour for 2012 as it is at once whimsical and serious, dynamic and soft, perfect for a tiny accent or for a feature wall. A colour that can be many things to many people reminds us not to look for simple solutions, but

to open our minds to new ideas that are waiting to be discovered.

Beauti-Tone Paints, a division of Home Hardware, is also big on red this year. It says its Red Review shade "is an exciting rich new red, blended with the deep, delicious hues of raspberries. A very liveable red that exudes strength and stability."

Bu t Ben jamin Moore pa in ts (www.benjaminmoore.ca) says the colour of the year is Wythe Blue. "Much more versatile than you may think, blue is truly a classic colour," the company says. "It has universal appeal, never goes out of style, and is overwhelmingly chosen as a colour favourite across North America. It evokes the sea and sky, physically calms us and symbolizes trust and commitment."

A Vancouver painter, Warline Painting Ltd., says the hot interior colour trend is purple. The company says it has been used in accessories for the past year and now is being featured in show homes. "I think purple is sexy," says Warline Painting's Heidi Nyline. "When it is used in the right way it isn't feminine or too girly. It works to create living rooms with a cool and modern vibe or bedrooms with a smoky and sultry feel."

The paint companies always have some fun with the names they choose for their paint colours. Last year, the best names went to Beauti-Tone, for their musical names Greyful Dead, Going Gaga and I Got You Beige. The company continues that theme this year with its Green Day, Rolling Stones and Blue Suede Shoes hues.

However, the best names this year are from Para Paints, with Hottie (redish), Hoola Hoop (yellow) and

Mammas Boy (grey). We also like Behr's Retro Recall names, "a snapshot of the past and present technological world," which include LOL Yellow, Reboot, Level Up and Game Over.

Most homeowners, when decorating, ignore the latest trends and go with the colours they like. Beauti-Tone says neutral greys and browns are still the most popular paint choices. Next most popular is green.

The Paint Quality Institute says patterned paint is also going to be popular this year, with "hound's tooth finishes, lacy designs and bold colour blocking techniques." Patterns can be used as both the main decorating feature in the room or as a textured backdrop.

The institute says the classic combination of black and white is also making a comeback, "in all sorts of s e t t i n g s , f r om co n t empo r a r y apartments to historic homes. The pairing is a great way to freshen an interior with something smart and stylish."

Colour zoning is another hot feature. It involves painting one part of a room – such as one wall or an alcove or interesting space – in a bright colour to contrast with a more neutral shade in the rest of the room. It draws attention to the space to highlight artwork or the shape of the wall.

If you just can't decide what colours you like, most paint manufacturers offer website tools where you can pick different colours and see how you like them in virtual rooms online.

Canada’s Colour of The Year is Red...or Blue...or Purple Written by Jim Adair

Page 5

Go to www.mooving.ca - ‘About Wayne’ and click on ‘Monthly Newsletter Trivia’ for the answers.

What did you neglect to do for your real estate in 2011? What will that cost you in 2012?

As 2012 gets underway, what opportunities to accelerate appreciation have you overlooked?

• Which simple value preservers have

you ignored?

• How many costs of ownership have

you missed opportunities to reduce?

• Which value builders have you

ignored?

• Which advantages of ownership have

you neglected?

Is your home a "thing" to look after, or a financial partner in your future? Either way there is maintenance and property management to be done on many levels every season, every year. Why not make sure your care-taking activities consciously also build value?

How many of the following value-making strategies did you apply to your real estate this year to achieve cost saving and equity building?

· The last leaves have fallen...probably into your eaves troughs. Did you have them cleaned out once the trees were barer? Depending on how many trees surround your home, you may need to clean the eaves troughs two or three times a year to keep rain water and melting snow flowing off your roof and away from outer walls and the basement of your home. Reduce the labour and cost of cleaning by installing screens across gutters that block debris accumulation. Failure to act will cause damage to the gutters, roof damage, damaging interior leaks, and a wet basement. Rotting leaf litter can also attract animals and end up smelling bad. The unsightly damage down-values curb appeal, too. What will all that cost in 2012, or later, just because eaves troughs are ignored now?

· Snow is part of winter...causing ice dams on your roof which damage the roof and inside, too. If there is not sufficient insulation and ventilation in the attic to keep the attic and roof cold, escaping warm air will start a chain reaction that means unnecessary expense and a prematurely-aged roof. Interior heat loss (which is also financial loss) melts snow on the roof and the melt water runs down to re-freeze when it hits snow or ice in the gutters. This

repeated action causes a dam of ice which pools water, so it seeps up under shingles and into the home to damage ceilings, walls, and furnishings. Eventually, rot sets in and you've got structural problems. Are you sure you have enough insulation in the attic and great ventilation? If insulation's been there a while, it may have been damaged by contractors or animals. Have roof vents and exhaust vents from fans been properly installed, or are they piping warm moist air into the attic to grow mould? Government energy grants may shoulder some of the cost, but what will it cost if you ignore the threat?

· Winter is garden planning time...How did you improve curb appeal this summer? Many homes don't sell because buyers are not won at the street. If they won't go in, they won't buy. Create the most interesting, low-maintenance garden on the block and you'll have a house that wins attention even before you decide to sell. Make that a "green" low-water landscape and you'll save time and money in the process.

· Spring is property tax time...Did you contest your assessment and have the assessed value of your property lowered? Keep pushing that value down and you'll keep property taxes in check as much as possible. The more loonies you keep in your pocket, the richer you are.

· Summer is sale time...furnace sales, that is. Make major purchases in the off season and you'll get a great price and the full attention of the best installers. In peak months, you're overpaying for overworked contractors who are too rushed to do a thorough job, just show up. Government grants and manufacturer specials for replacement of furnaces and heat/cooling systems are common, particularly at the beginning and end of season. Updating systems adds resale value and saves on monthly costs.

· Holiday season is payback time...Shop locally and you enhance the value of your neighbourhood, and stave off big-box and chain stores which homogenize areas. Buy your gifts from local artist studios and shops and you'll have unique presents that keep value in the neighbourhood. Too often the very shops and small food stores that first draw home buyers to an area are ignored once they're residents in favour of cheap, high-volume national and international chains. Shop in 2011 and start 2012 by revisiting local shops and businesses so their year starts strong, and you'll keep future home buyers envious of those who live in your neighbourhood.

Home View: Caretaker or Financial Partner Written by PJ Wade

Page 6

JANUARY ISSUE

· Action beats "if only I'd"...If you believe 2012 will bring a slow down or stall to your neighbourhood real estate market, did you seriously consider the advantage of selling in the stronger 2011 market? You could rent for a while and then buy in the softer real estate market. Your home is only worth what someone will pay for it, not should pay in your opinion. Owners who list with prices from the last strong market, lose valuable credibility with buyers and, therefore, may net less in a sale. Investing time to crunch numbers and seriously consider all your options each year, is the best way to be sure you're making the most of your equity. Aim to never put yourself in an "if only I'd" situation, and you'll know real estate is your financial partner in building the fu-ture of your choice.

Many real estate owners count on pas-sive appreciation and expect their real estate to automatically increase in value. Waves of real estate booms driven by boomers moving from first house to mega home to recreational property to deluxe condo, through various stages of life, have driven real estate values to dizzying heights and made significant annual price increases seem the norm. What will drive value increases in the future? How much can owners count on passive appreciation to build future value?

Real estate will increase in value under some circumstances, but not automatic, not for every property. Sometimes values decline. In strong real estate markets and preferred locations, property values can steadily increase, but not equally for all properties in every neighbourhood. When markets slow, only preferred locations may keep increasing in value, or at least hold their own. Unless owners step in and deliberately preserve equity, main-tain equity, and build value by treating their real estate as a financial partner in their future, many owners may not see as dramatic appreciation in the future as they have experienced in past decades.

The future starts now for real estate. By the time future patterns become present realities, it is too late to make the most of those real estate opportunities. Look ahead with your real estate. Build value as you go to retain the flexibility to be ready to act on opportunity. Take full advantage of the investment you love to live in. Make 2012 the year you moved beyond being a caretaker.

With so much energy and attention being spent on fixing the economy, it’s easy to lose sight of other important issues. One of these is the environment. Homes and households consume a large amount of energy and products to keep in good working order.

Here are 15 simple ways you can transform your home into a green sanctuary. Every little bit helps. Do what you can and spread the word!

1. Buy earth-friendly cleaning products: This used to be a tall order for budget-conscious households, but now there are a plethora of products on the market available for the same price as t rad i t iona l c leaners . Some households take it one step further and harness the cheap cleaning power of baking soda, vinegar, and lemon.

2. Lights out: Turning lights off when you’re not in a room means you use less energy. This means the power plant produces less power and emits less pollution.

3. Turn the water off: It is tempting to let the water run while we brush our teeth or wash dishes. Take a quick second to turn the handle to “off” and preserve water each day!

4 . Upgrade Insu la t i on : A well-insulated home can save you money! Insulation helps keep your warmed or cooled air inside the home. Check the attics and walls of older homes to see if upgrades are needed.

5. Check for cracks: Air escapes through cracks around windows and doors. It is essentially wasted energy. Check windows and doors for leaks and fill them with caulking.

6. Change light bulbs to CFLs: These new bulbs might look a little funny and cost a bit more initially, but they last longer and save tons of money in the long run.

7. Use cloth diapers: Attention all parents! Cloth diapers aren’t what they used to be. Not only do they work just as well as disposables (some say better), but they cost less and save the environment. A disposable diapers takes up to 500 years to biodegrade in a landf il l . Americans send millions to the dump each year.

8. Use a laptop: Did you know a laptop uses less energy than a desktop unit? For home use consider using a laptop. Not only will you save energy, but you’ll save space as well.

9. Electric water heater: These compact units are great for families wanting to heat water only on demand. You’ll never run our of hot water and you’ll use less energy in the process because you won’t be heating water for when you don’t need it.

10. Zero-Voc paints: Paint can be toxic. Traditional paints emit fumes for years to come, meaning your family breathes in this nasty stuff. Zero-voc paints, however, are safe and cost only a fraction more than traditional.

11. Unplug appliances: Even if an appliance isn’t in use, it is still pulling a small amount of power. Unplug appliances when they’re not in use. Even small changes can have a big impact if everyone does it!

15 Tips For Green Living Written by PJ Wade

Page 7

12. Free and Clear laundry detergent: Our rivers, lakes, and oceans will thank you. Every year gallons and gallons of toxic chemicals make their way down our drains and back into our water supply.

13. Energy efficient appliances: Energy Star rated are a great place to start. These appliances meet a strict standard of energy usage. Switching to an energy efficient washer or dryer can save you cash and energy.

14. Wash in cold water: Once you have those Energy Star appliances, be sure to wash in cold water when you can. It uses less energy!

15. Recycle! Most cities have recycling centers where you can drop off metal, glass, paper, cardboard, and plastic. Keep extra bins in your garage, spend a few extra minutes sorting your trash, and do your part of save the environment.

Do your part to help make the Earth a healthier place. Future generations will thank you!

WAYNE COCHRANE’S REAL ESTATE INSIDER

WAYNE COCHRANE’S REAL ESTATE INSIDER

Note: This is not intended to solicit clients currently under contract.

The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.

Page 8

Wayne Cochrane Real Estate Professional

902-830-4761 wayne@mooving.ca

More homes listed by EXIT - view these homes at:

www.moov i n g . c a

unless noted otherwise

List Today and EXIT Tomorrow!

1293 White Hills Run

Kingswood North

39 Tradewind Court 204 Southgate Drive 18 Glen Arbour Way

165 Oleary Drive

Beaver Bank

471 Gatehouse Run

$538,900

$434, 800

Glen Arbour

$739,80

0

Kingswood

28 Roupen Court 64 Thomas Drive

$844,700

$319,80

0

$309, 800

Kingswood North

$549,90

0

$274, 900

Kingswood White Hills

Ravines of Bedford

$379, 800

$549,00

0