en-us
The most expensive solution is going to be to buy an air conditioner. In condos where you are not allowed to hang an AC unit from the window, portable air conditioners will be your best bet. Ensure you buy one with enough BTUs to sufficiently cool the space. If your condo is above 600-square-feet, then 12,000 BTUs is what you will need. Not only will the AC keep the space cool and comfortable for potential buyers, it will also remove the humidity from the air, which is what makes it most uncomfortable. You may even wish to include the AC in the sale of the property, which may increase the value of your home and bring you double what you spent on the unit.

Using a window insulating film will offer a more permanent solution to helping keep the heat out. A window film is a thin plastic-like material you apply to your windows that will block out almost 99 per cent of UV rays and keep your home significantly cooler. If you are a west- or south-facing unit, this is a great option since the film is clear and is applied to the interior of your window so there will be no issues with your Strata. There are many local Vancouver companies who will even come and install the product for you if you are not a DIY lover.

Blackout drapes are another great and cost effective way to help reduce the heat in your home. Drape panels can cost as little as $20 at some stores and can help reflect the sun’s heat away. Obviously they will not reduce the humidity in your home so be sure to buy an inexpensive dehumidifier as well. Keep the drapes closed right up until your showing and the close them again once the showing is complete. While not the most effective solution, it will provide a noticeable difference.

Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.

]]> http://www.metronews.ca/vancouver/live/article/270541 Thu, 30 Jul 2009 02:03:39 -0400 Ryan DeLuca, HouseLeague http://www.metronews.ca/vancouver/live/article/270541
All these wonderful things we look so forward to can spell disaster for a homeowner looking to sell. Summer and Winter tend to be the slowest times of the year to sell a home so here are some things you can do to get the best deal with fewer buyers.

In a slow market, take advantage of the so called “looky-loos.” These are people who may just book to view your unit even if they do not have any intention of buying.

While you may see it as a waste of your time to give top notch attention to those who are obviously not looking to buy, you never know if they have friends or family who may be a perfect match for your home. This means hosting open houses even when the streets are blocked off so that residents of the neighbourhoods who are passing by can have a look.

It is also a great idea to advertise in publications that also advertise for the events. Local publications with weekly advertisements for citywide events very often have a listing section for homes.

Placing an add in these publications just prior to and during these events will be noticed by a larger percentage of readers than may normally pick up a paper when nothing is going on.

Make sure to not only advertise your home, but all open houses as well.

Similarly to last week’s tips on construction noise, ensure that if you are showing your home during louder festivals, your home is well insulated against noise.

Keep the windows closed and use a fan to circulate the air instead.

Let your neighbours know when you are hosting potential buyers so they can keep their celebratory noise to a minimum for the duration of your showing.

Let buyers know how often they can expect to hear the festival noise and when it ends.

It is easy for buyers to assume when they hear excessive noise outside, that your home will always be noisy even though this is not the case.

– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.


]]> http://www.metronews.ca/vancouver/comment/article/259015 Thu, 09 Jul 2009 02:58:28 -0400 Ryan DeLuca, for Metro Canada http://www.metronews.ca/vancouver/comment/article/259015
If you are looking to buy in trend-setting neighbourhoods like Granville Street or Gastown, here are some things to look for.

Double-pane insulated windows are fantastic for noise dampening. In fact, they can cut out almost all the noise that you would normally hear when the windows are open.

If you discover that the condo has single-pane windows, find out if it would be possible to upgrade at your expense.

Next, check on the construction materials. Is it a wood frame or concrete building?

If the space you are looking at is in a building under four storeys — odds are it is wood frame.

Wood frame, low-rise buildings are some of the most popular because they tend to be more intimate than a large concrete high rise, but they are not as effective in keeping noise out. Ensure that the building has strict bylaws governing the underlay used with wood floors. The Strata Property Act requires homeowners to lay down sound dampening material below wood floors in condos to help protect against noise transfer.

If you are intent on buying the space, approach the strata council to see if you can also increase the insulation in your floors and ceiling. While this will be at your own cost, it will increase the value of your home when it comes time to sell.

Finally, pay special attention to the strata minutes. If excessive noise is mentioned in these minutes, maybe this is not the building for you. 

– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.


]]> http://www.metronews.ca/vancouver/comment/article/255309 Thu, 02 Jul 2009 03:59:18 -0400 Ryan DeLuca, for Metro Canada http://www.metronews.ca/vancouver/comment/article/255309
With paving, the smell is going to be the strongest issue you will have to contend with. The scent of tar is not a pleasant one and can really permeate a space if you keep the windows ajar. One trick is to pick up a portable air conditioner for a few hundred dollars and use it to along with some fans too cool the condo. That way you can leave the windows closed. Then, take some cinnamon and vanilla and simmer it on the stove in some water. Cinnamon is a natural deodorizer and will not only help mask the tar fumes, but will also kill any other odours that may be lingering in your home.

Detours are a big problem that can force buyers to bypass your listing all together.  Projects such as the Canada Line are now riddled with controversy over the loss of income and inconvenience they caused to surrounding businesses. If your condo happens to be on a street such as Granville or one in which the street is being torn up, make sure you host an open house. While cars may not be able to park up and down your street, this construction almost always leaves a path for pedestrians to navigate. Take advantage of the foot traffic that you only get during a weekend open house to bump up the number of individuals to who view your property.

Finally, noise is probably one of the largest problems you will face. Everyone wants to buy a quiet space even if it is in the downtown core. Construction noise can be heard for miles around and can really turn a buyer off, even if they know it is only temporary. If you are in a newer building, your windows are most likely double paned and have some pretty good noise dampening properties.  If you have a single pane window in an older building, set up your showings for off hours in the evenings and on weekends. Try and avoid showing the property during peak construction times.

– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.


]]> http://www.metronews.ca/vancouver/comment/article/243954 Thu, 11 Jun 2009 03:00:00 -0400 Ryan DeLuca, House League http://www.metronews.ca/vancouver/comment/article/243954
All over the lower mainland master planned communities such as Newport Village and Suter Brook Village in Port Moody, and Clayton in Cloverdale are being built by developers as a way of renewing the vibrancy of these once transient cities. The days of needing the car for simple chores such as grocery shopping or grabbing a coffee are long gone. Gyms and all other recreational facilities are now right at your doorstep.

Selling in a master planned communities is also a great feature to advertise in the sale of your home. Most couples looking to expand their families and who currently reside in the downtown core can be hesitant if not outright adamant about whether or not to move to the suburbs. Being able to show that everything they have come to love about the city can be had outside the city walls with a more attractive price tag can be a pivotal selling point.

Now, for you purchasers out there, here is an opportunity to buy into communities that can rival anything you will find in the city. Being close to every amenity you can imagine while affording a larger space then you could in downtown is not only a great opportunity for you, but a great way to invest in a property that will maintain its value over the old style subdivision home.

So what it comes down to is a shift in your perspective. The suburbs of today in no way resemble the suburbs of the past. With new city plans including the advent of the master planned community, these new neighbourhoods are becoming trendier, hipper and more popular to people of all ages.

– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.


]]> http://www.metronews.ca/vancouver/comment/article/239970 Thu, 04 Jun 2009 04:09:24 -0400 Ryan DeLuca, HouseLeague http://www.metronews.ca/vancouver/comment/article/239970
Many of the sunny spring days can be quite humid. In Vancouver central air conditioners with dehumidifiers are extremely rare, especially in condos. Keeping in mind that one of your goals is to keep the buyer in your home as long as possible to increase the likelihood of a sale, invest in a low-end dehumidifier to keep the home comfortable.  Place fans in each room to circulate the air and help avoid any stale scents associated with humidity.

If you are facing north, you will tend to get more blue light then direct yellow sunlight. Try putting up off-white curtains to filter out some of the blue spectrum and get more of a warm yellow glow in your home.  Use “daylight” full spectrum light bulbs and a lot of ambient lighting to create a warm and bright feel. Ensure that all dark corners are illuminated. 

On the rainier days, ensure that your home is warm and cozy inside.  Take advantage of the fact that most people will be indoors on days like this and show them that being in your home is just where they want to be. Light candles in the fireplace to give a warm cozy glow.  Simmer some cinnamon on the stove to give the scent of fresh baking (much easier then actually baking a pie). Have soft music playing and fill a candle-lit tub adding a few flower petals to float around in it.

The outside of your home should be well manicured come rain or shine. Your gutters should be cleaned out from any winter foliage that has fallen so that the water is not spilling over the edges. Fresh shrubs and flowers should be planted around the gardens and the lawn should be well manicured. All outside lights should be functioning properly with new bulbs and the shades clean from dust and dirt.

The way in which you stage your home in spring will vary as much as the weather. Keep your home showing its best at all times to help ensure a sale.

– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.


]]> http://www.metronews.ca/vancouver/comment/article/232289 Thu, 21 May 2009 03:42:58 -0400 Ryan DeLuca, House League http://www.metronews.ca/vancouver/comment/article/232289
Like most first-time homebuyers, finding a great deal for your first step on the property ladder is going to be paramount. For you, looking in the suburbs will yield the greatest amount of space for the smallest dollar. Cities such as Surrey and Maple Ridge are becoming popular amongst first-time homebuyers looking to score a deal. Here you can find one bedrooms for under the $200,000 price point.

For those first-time homebuyers with a bit more disposable income, trendy hotspots such as Port Moody and the Brentwood Mall area of Vancouver are the perfect fit. With all the amenities of the city at your doorstep, these neighbourhoods are great for budding families and those who want a downtown feel, without all the hustle and bustle of the city core. You can find new one bedrooms in the mid-$200,000 range and up.

For the young-at-heart who demand a downtown existence without all the downtown costs, such neighbourhoods as Citygate, Soma and Commercial Drive on the east side of Vancouver are what you seek. With all the trendy cafés, galleries and shops, and a short walk or transit ride to the downtown core, you are sure to find all the excitement you desire, at a price that is more reasonable than living downtown. Here you can find great deals on one-bedroom homes from the mid- to upper-$200,000 range.

Finally, for those first-time homebuyers who do not have a budget, or those who just demand the downtown lifestyle, the city centre is where you want to be. Starting in the upper $200,000 range for a one bedroom, here you will be close to all the nightlife and excitement that Vancouver has to offer. Spreading out to the waterfront neighbourhoods of downtown, you can expect prices to soar, but the addition of stunning views help compensate for the price.

– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.


]]> http://www.metronews.ca/vancouver/comment/article/217683 Thu, 23 Apr 2009 01:00:00 -0400 Ryan DeLuca, House League http://www.metronews.ca/vancouver/comment/article/217683
First thing to pay attention to is the zoning of the house. You will find often that houses with basement suites are only zoned for single family residential. Buying one of these properties without paying special attention to the zoning bylaw can result in you not being able to legally rent the space. While you may still find tenants willing to rent, your recourses should the rental go sideways could be limited. As well, if you are reported to the city, you could be forced to cease the rental.

Once you find a property with a legal basement suite, you want to check to see if the space is already rented to tenants and if so, what the terms of the current lease are. Remember, you cannot just evict a tenant you do not like. Tenants have many rights and as a new landlord you must continue to adhere to them. Before submitting an offer on the house read the lease, check all the background information of the tenants.

Finally, and probably most important, find a house in an area that is close to transit and amenities. It is very hard to place a tenant in a property that is off the beaten path.

– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.


]]> http://www.metronews.ca/vancouver/comment/article/210942 Thu, 09 Apr 2009 03:55:48 -0400 Ryan DeLuca, House League http://www.metronews.ca/vancouver/comment/article/210942
Single-storey, New York-style and double-storey lofts are becoming popular in the Vancouver area. Neighbourhoods like Gastown and Yaletown are booming with warehouse conversions adding to the number of loft units on the market. It is important to take advantage of all the natural features these units possess.

If you have original brick walls, avoid painting them and use them as a focal point. Try to frame double-height windows with neutral modern drapery instead of blocking them with tall pieces of furniture and outdated vertical blinds. Salvaged wood and concrete flooring are also big selling features in the spaces. Don’t cover them with carpeting, even in the bedroom.

Kitchen and bathroom
Rooms such as the kitchen and bathroom should be designed with all the modern amenities you find in an upscale home.

These are the rooms where outdated pieces are never desired and can turn a buyer off. Stick with stainless steel appliances, and granite or composite counter tops that fit with the industrial look of a loft.

The cabinetry can be any style you like (such as wood or laminate, dark or light colours) as long as you carry that style through the rest of the space.

Because lofts are essentially a large single room with a bathroom, dividing the space visually while maintaining the openness of the room can be tricky. Try changing the flooring between rooms like the kitchen and living area. If you are in a New York-style loft, raise the bedroom a foot or two by building a platform with steps up into the space. This gives the illusion of a separate room even though it is open to the rest of the unit. Make sure each space is defined clearly with your furnishings so there is no confusion as to what part of the loft is used for what purpose.

Younger audience
Finally, stage the home with a younger buyer in mind.

Lofts appeal to a younger, trendier demographic and those are the ones you will be selling too. Keep the decor modern.

This includes updating the lighting, which many sellers forget to do and using neutral colours both on the walls and in the furnishings.

Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.

]]> http://www.metronews.ca/vancouver/live/article/206678 Wed, 01 Apr 2009 21:58:55 -0400 Ryan DeLuca, House League http://www.metronews.ca/vancouver/live/article/206678
It is always a daunting task to find a compatible realtor when it is in your own city, finding one you like based on websites and Google searches is that much more difficult.

If you are just moving from one city in the Lower Mainland to another, more often then not you can get a referral from your realtor to one they recommend.

The advantage to working off a referral is that your realtor will receive a referral fee from the new realtor.

This reinforces the notion that they will have a vested interest in finding you someone you can work with. They will also keep in touch with you to ensure you are satisfied with the referral instead of you having to deal with problems on your own.

While the new realtor will be taking over your file completely, knowing that you came as a referral from someone else will give them the incentive to work diligently to please you.

Referrals make up a large portion of any realtor’s client base and they rely heavily on clients and other realtors referring new buyers and sellers to them.

Finally, dealing with a realtor you have been referred to can simplify things by allowing your current realtor to pass on all the information regarding your likes and dislikes to the new representative.

This will save you, in some cases, days of looking at properties that do not suit your aesthetic style while the new realtor gets a feel for your tastes.

Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.


]]> http://www.metronews.ca/vancouver/live/article/203083 Wed, 25 Mar 2009 22:55:53 -0400 HouseLeague by Ryan DeLuca http://www.metronews.ca/vancouver/live/article/203083
So how do you ensure a smooth deal when the person who is buying your home is not around?

When dealing with out of town buyers it is important to use all the recourses at your disposal such as local realtors, lawyers and notary publics. It is guaranteed that the buyer will have a team of professionals at their disposal representing them, so you must ensure that you do as well.

If you live in a strata property, ensure that you have all your paperwork ready.  Sending documents from one country to another can take time and the subject removal period can be as short as seven days. Waiting on your property manager to obtain all the documents can put your deal in jeopardy. Instead, make sure you or your realtor order all the necessary documents the minute you list the property. That way they are ready to ship when you need them.

Confirming the identity of any buyer is a tricky task but when the buyer lives in a foreign country and you do not even get to meet them it can be a bit daunting. Luckily, the federal government has come out with a new Fintrac form that makes it easy for your realtor to collect identity information helping to ensure the buyer is who he or she claims to be. Your realtor will obtain these forms for the buyer to fill out.

Finally, ensure that your contract is filled out clearly and completely. It is not as easy to get missing signatures and initials when the buyer is in a different time zone. Missing pages and signatures can cost a deal when it requires days to transfer paperwork back and forth. Comb your contract carefully and ensure that you have completed all the necessary steps.

Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.

]]> http://www.metronews.ca/vancouver/live/article/199223 Thu, 19 Mar 2009 00:06:36 -0400 House League by Ryan DeLuca http://www.metronews.ca/vancouver/live/article/199223
Upgrading your home to include the latest in electronics can make a large impact on a buyer. While searching for the ones to install in your home you may find some items that are location specific, such as full spectrum lighting. This lighting helps combat seasonal affective disorder, which is common on the rainy west coast. Including these lights in the bathrooms will be especially appealing for those relocating to the west from sunnier locales across the country.

Televisions and surround sound systems are another upgrade that is becoming more affordable and more common in homes around the country. Prewiring your space to allow for surround sound systems and home theatres can be enticing to any buyer (including the television itself is even better). The minor expense you will incur to wire your home will more than pay for itself when it comes time to sign on the dotted line.

With winter coming to an end, heated floors are not something most people will be thinking about, but adding radiant floor heating in the bathrooms and kitchen will always be appreciated by any home owner and buyer and can be enjoyed year round. Since tile and stone make up for most of the kitchen and bathroom floor coverings, radiant heating will keep them toasty during chilly nights, or while drying off after a shower or bath.

– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.


]]> http://www.metronews.ca/vancouver/comment/article/195261 Thu, 12 Mar 2009 04:08:43 -0400 Ryan DeLuca, for Metro Canada http://www.metronews.ca/vancouver/comment/article/195261
Keeping abreast of what is going on in your neighbourhood is always a smart idea whether you have a home for sale or not.

Safety is one of the key issues buyers will raise when they are looking into a new neighbourhood. Long ago are the days where the high-end gated neighbourhoods were the safer place to be.

By keeping on top of the issue, you and your realtor will be ready to address any questions or concerns that are posed to you.

It is also a good idea to form a neighbourhood watch. If there is violent crime in your area, or even if you have known criminals living nearby, a neighbourhood watch is a great way to make prospective buyers feel safe and secure with their purchase.

All neighbourhoods experience some level of crime so it is never deterrent for a buyer to see that your neighbourhood is proactive when it comes to controlling crime.

Having an alarm already installed in your home is another great way to keep buyers content.

If you live in a house or even a ground floor condo, a prewired alarm system is a fantastic selling feature. It is a minimal cost to have it installed and most new condo developments are already set up for them. Make sure your realtor points them out when conducting showings or an open house.

In the end it is important to note that almost all the gang shootings that have happened recently are targeted hits on specific individuals.

They are not epidemics that are specific to any part of the metro Vancouver area.

Understand that it is not the neighbourhood itself that is unsafe.  Staying one step ahead in making sure all buyers feel safe in your home will go a long way to help ensure a speedy sale for you home.

– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.


]]> http://www.metronews.ca/vancouver/comment/article/191586 Thu, 05 Mar 2009 03:59:15 -0400 Ryan DeLuca, for Metro Canada http://www.metronews.ca/vancouver/comment/article/191586
With a definite lack of hotels and short term rentals in Vancouver, renting your home will not only bring you extra cash but can help provide much needed space to those who want to check out all the sites and sounds of our city during the Olympics.

If you are already a renter, it will be important to check your lease to see if subletting either the entire unit or even just a room is allowed under the terms of your contract. The last thing you need is for your landlord to wreak havoc with your tenant. If you are in a condo, ensure that you do not have rental restrictions preventing the rental of the unit. Many strata councils will require notice of who is occupying the suite so that in an emergency, they know who to contact, and how to get in touch with you, the home owner. Your property management company can provide you the appropriate forms to fill out.

Finding the right insurance is another important task to consider.

Most homeowners insurance and rental insurance do not cover tenants or sublets respectively. Depending on what type of rental you are providing you may require additional insurance to help protect you from damage or theft caused by your tenant. 

Next, it is important to make sure that you are aware of all the tax and rental laws in Vancouver. Depending on the number of spaces you are renting and the length of time you are renting for, you may be required to pay hotel taxes etc.  Checking websites like the City of Vancouver or the BBB can help ensure that you conform to all the necessary laws and do not get slapped with a fine.

Finally, one of the easiest ways to find that perfect renter is to use a property management company, which has people who are trained to screen tenants and take care of any problems they may encounter during their stay. For a small fee you can save yourself the hassle and enjoy your time off while making a pretty profit.

– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.


]]> http://www.metronews.ca/vancouver/comment/article/187966 Thu, 26 Feb 2009 04:39:52 -0400 Ryan DeLuca, for Metro Canada http://www.metronews.ca/vancouver/comment/article/187966
What is the best way to help make your choice? See what sorts of stores and shops are in the area.

Store owners spend thousands of dollars researching neighbourhoods when trying to find the perfect space to sell their wares. It is important that they open in an area that is made up of the demographic they are targeting.

It would do a store owner no good to randomly open a nightclub in a part of the city that consists primarily of elderly individuals. So take advantage of all the research that has already been done when shopping for your new home.

Let us look at the fast growing burb of Port Moody for example. In the hotspot shopping districts of Newport and Suter Brook Villages we can find establishments like Starbucks, the ever popular Brown’s Social Club, The Running Room and the new and very trendy snow and skateboard outfitter Bobby Paul.

Taking a look at these staples in the community, one can deduce that this area primarily consists of young, health conscious individuals and families who enjoy outdoor activities and in all likelihood have disposable income. So, if that sounds like you, this may be the perfect move.

This research is not only priceless to a buyer, but can serve as a great guide to any seller. Neighbourhoods are constantly changing and evolving. Drastic alterations in such communities as Yaletown, which has gone from warehouse district to high end, need to be marketed to those who are now buying there.

If you are selling because your area no longer suits your needs make sure you market it to those who are now coming in and not other individuals like yourself who may not wish to live there. Advertise your proximity to the area merchants of interest to your buyers to attract them to your listing.

You can even use this demographic information to help stage your home and maximize your price.

– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.


]]> http://www.metronews.ca/vancouver/comment/article/180822 Thu, 12 Feb 2009 03:01:01 -0400 Ryan DeLuca, for Metro Canada http://www.metronews.ca/vancouver/comment/article/180822
There are a few things to remember when it comes to buying in discounted developments, beginning with understanding where the new sale price stems from. Over the past several months, most developers have been offering different incentives to buy from them. Some have offered to buy down your mortgage interest rate. Others have offered to pay strata fees for a year. Now, we are seeing the new 30 to 45 per cent off deals. These price cuts are based on the original home prices and not off previous sale prices. Most of the additional incentives will have also been discontinued. 

The question on sellers’ minds seems to be how discounted developments will affect their resale value. Well, as most of you know, the market value of any home is the most the buying public is willing to pay for it. When a realtor determines the fair market value of your home, they search for all comparables in the area that are similar to yours. This means that discounted developments will bring down your property values slightly. That being said, the discounted developments will also bring a lot of publicity and interest to your area which may not have otherwise been there. This can make your neighbourhood more desirable in the eyes of the public and help keep your market values up.

What it really comes down to is that as prices begin to rise developer sales are going to be one of the best ways to get into the market and buy units you may not have otherwise been able to afford. Take advantage of these deals because as the market gains strength, such opportunities will be far and few between. If you are selling, use the added media attention and advertising from these developments to help push the sale of your unit.  This is a great time to publicize how great your neighbourhood really is.

– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.


]]> http://www.metronews.ca/vancouver/comment/article/177217 Thu, 05 Feb 2009 03:40:37 -0400 Ryan DeLuca, for Metro Canada http://www.metronews.ca/vancouver/comment/article/177217
Firstly let us look at freehold properties. Freehold ownership is the most common in Vancouver. It entitles the homeowner to have their name on title as full owner of the land and the improvements (house) on the land. If it is a condo that is being purchased, a freehold ownership gives you full ownership of your unit and a portion of the land and common areas depending on your unit of entitlement in the building. Basically, the larger the unit, the more land and common area you own.

Next we have leasehold properties. Leaseholds comprise a much smaller percentage of home sales in Vancouver and can be found in strata properties on leasehold land, co-operatives on leasehold lands and even mobile homes on rented pads. For the purposes of this column, a leasehold is a home where the land is being leased usually from the government or as is also common in Vancouver, a native band, for a defined period of time. When purchasing a leasehold, most banks will require at least 30 per cent downpayment. You should always seek legal advice to ensure that you are satisfied with the terms of the lease and understand the procedures to follow when a lease comes due. Lease rates, assignability and terms are things that should be discussed with a lawyer. Most leaseholds in Vancouver can be found around the False Creek area along the water front and on university property.

Co-ops are the third type of ownership one can buy into in metro Vancouver. Co-ops also comprise a small share of the real estate market. Unlike freehold and leasehold properties, with a co-op, you do not own the land or condo outright. Instead you own a share in the land and improvements (the building) and are granted the right to occupy a unit as part owner.

Most banks will require at least 30 per cent down payment on this type of ownership as well. When buying into a co-op you will have to receive approval from a board of directors made up of current owners. Co-ops usually have tough rental and pet restrictions, so be sure to check the building rules prior to purchasing. As with leaseholds, you should consult a lawyer when financing is required as there is no title in a co-op to encumber with a mortgage. Most co-operatives can be found in the west end and for the most part are older buildings.

– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.


]]> http://www.metronews.ca/vancouver/comment/article/173906 Thu, 29 Jan 2009 03:08:56 -0400 Ryan DeLuca, for Metro Canada http://www.metronews.ca/vancouver/comment/article/173906
The first thing every buyer needs to do is get prequalified for a mortgage either through a mortgage broker or bank. In most cases, people are surprised by how much or little they are offered from the banks. As with everything in life, having a solid grasp of your budget will make the search for your new space more focused for both you and your realtor. The pre-approval process can take up to a week so give yourself enough time to find the right mortgage for you.

Finding the perfect neighbourhood is another way to make the journey run smoothly. This is something that can be done with you and your partner or friends. Venture out to the areas you love at different points in the day. Try out the local shops and cafés. Make sure that a neighbourhood you love is just as appealing at night as it is during the day.

Focusing on the style of home you are seeking is another great way to get set before meeting a realtor. Use a weekend to venture out to some open houses. Take your time walking through the spaces and paying special attention to the layouts and sizes of the homes. Will your belongings fit? Is the space functional for the way in which you will use it?  Bring a tape measure! Answering these questions will give you great guidelines for your realtor in terms of finding the right sized space and right floor plans.

Following these tips will ensure that when you hire your real estate expert, they have all the information required to make your search quick and efficient. It will also save you a lot of frustration and keep the buying process fun and exciting (the way real estate should be)!

– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.


]]> http://www.metronews.ca/vancouver/comment/article/170667 Thu, 22 Jan 2009 00:50:00 -0400 Ryan DeLuca, for Metro Canada http://www.metronews.ca/vancouver/comment/article/170667
Thousands of open houses are held every weekend by vendors and their realtors. The ones that are the most successful are the ones that can keep the buyer in the home as long as possible. This is because buyers will view multiple properties in a weekend and the more time they spend in yours, the more likely they are to remember what they loved about it.

Serving coffee and water, and providing tasty treats, is a great way to hook the buyer. Stick with small cookies and pastries that can be enjoyed as the buyer makes his/her way around the home. Place a small but attractive refuse bin in each room so that you do not end up with garbage around the space during viewings.

Ensure that all rooms are free from clutter and garbage, are void of offensive odours, and are decorated with an updated and neutral palate. All knick-knacks and personal photos should be boxed up and ready to move. This especially holds true for any children’s rooms. Put all those toys away and take all the posters down. A buyer may want to use the spare room as guest room or office and it can be particularly difficult to envision if the room is full of cartoon characters on the walls and stuffed animals underfoot. Children’s rooms should have a young but sophisticated feel to them so they sell themselves, while the rest of the home should boast a modern clean decor.

As for the realtor — well, each realtor will have their own selling style. Regardless of their method, your realtor should be dressed to impress the demographic you are targeting. While a shirt and tie are always in style, a younger crowd may respond better to a more informal approach (dress pants and a golf shirt), while an older crowd may appreciate a more formal attire. 

All of these things should be discussed with your realtor in advance of signing any listing. Making sure that your open house stands out above the rest is just one way to ensure a quick sale for maximum dollar.

– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.


]]> http://www.metronews.ca/vancouver/comment/article/167105 Thu, 15 Jan 2009 01:50:00 -0400 Ryan DeLuca, for Metro Canada http://www.metronews.ca/vancouver/comment/article/167105
Many people who purchase in Vancouver, even in the declining market, can make their home act as both primary residence and exotic getaway.

By decking out the often neglected back yard, a few simple additions can make a rainy winter wonderland warm and inviting. Outdoor fire pits, heated hot tubs, and weatherproof kitchens can make any yard, even in winter, become a personal oasis for that holiday party or playground in the snow.

Basements are another area of the home that are often neglected and can be turned into a vacation for those without yards. A finished basement can add thousands of dollars to the market value of your home. Theatre rooms are becoming all the rage. Large comfortable stadium seating and a high-end projection television system can be the perfect reprieve from the rain and snow. Theatre rooms are also a great way to keep kids busy when the boredom of an indoor holiday begins to set in.

The bathroom is a great space to renovate and give that spa-like feel to your home. Steam showers and saunas not only melt the stress away, but are a great investment in home renos.
The same holds true for soaker tubs and Jacuzzi spa tubs. This is a simple reno for condo owners to partake in and can add years of enjoyment for the price of a single vacation and a fraction of what it costs to buy a vacation property.

Remember, Vancouver is one of the most beautiful cities in the world. People flock from around the globe to see the sights and sounds of this Eden we call home. Upgrading your existing property to act as both a vacation property and your primary residence will not only add value but also make it easy to convert your every day living space into a dual purpose holiday oasis.

– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.


]]> http://www.metronews.ca/vancouver/live/article/156829 Thu, 18 Dec 2008 00:50:00 -0400 Ryan DeLuca, for metro canada http://www.metronews.ca/vancouver/live/article/156829
One of the simplest tips to create the right light in any home for sale is to avoid using bright white fluorescents and opt a for the softer yellow glow. This will give a less synthetic feel to the light and a more natural sun-like glow to the home. You can now get compact fluorescent bulbs that give off a light much like the incandescent bulbs we are used to.

Another simple trick is to light a multitude of candles in the fireplace, if you have one. If it is electric or gas, turn it on. While people tend to feel more stressed and down during the soggy months, a nice warm glow from a fire can make even the most stubborn buyer melt. You can also use candles to help light areas of your home where you want to give the illusion of serenity like the bedroom and around the bath.

One of the things owners with north-facing properties learned long ago is that to filter some of the blue light that comes in when you have no direct sun, avoid using white curtains and go for more of a taupe or cream colour. By filtering out some of the blue spectrum, you will get more of a warm glow through the windows. This can make a dreary day seem a little brighter.

Finally, with all the windows in your home closed off to keep warm, stale air can become a huge problem for people who come through your property. While you may not notice any difference in the air quality of your home, that stale scent can turn off a lot of buyers. Open the windows before any showings to air out the space. Cinnamon, which is a natural deodorizer, can be simmered with water in a pot and make the home smell like fresh baking without having to do any work.

Ryan DeLuca is a realtor with Sotheby’s International Realty Canada, and host of The Real Estate Minute on Novus TV; rdeluca@sothebysrealty.ca.

]]> http://www.metronews.ca/vancouver/live/article/153491 Wed, 10 Dec 2008 22:41:39 -0400 HouseLeague by Ryan DeLuca http://www.metronews.ca/vancouver/live/article/153491
One of the biggest advantages to using a realtor is the benefit of the Multiple Listing Service. This is an online database containing most properties that are for sale through licensed realtors. In fact, websites such as realtor.ca (formerly mls.ca) are where the majority of home buyers will find properties they are interested in viewing and subsequently purchasing. This is especially important for out of town investors and purchasers who are unable to drive around looking for that new home or investment.

It is also important to consider the type of market you are trying to sell in.  Most buyers will use a realtor when making a purchase. The safety of a knowledgeable professional who can guide them toward a wise purchase is a logical choice for any buyer. If you are listing your own property in a slow market that is flooded with listings and lacking in buyers, you will be cutting out a large segment of an already small market. Realtors working with buyers expect to be paid a commission for their work.  Some realtors may assume if the property is for sale by owner, a commission will not be paid. Whether this is true or not, it may in turn make it more difficult for you to attract a buyer.

Finally, you must consider the length of time it will take to sell the property. One thing most vendors fail to remember is that the longer it takes to sell the home, the more carrying costs you will incur. Mortgage payments, electric bills, gas bills, etc. can add up over the months. Realtors will usually sell a home significantly faster and for more money than those sold by the owner. In the end, the amount of money you believe you can save by listing your own home can end up dwindling down.

– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada in Vancouver, and host of The Real Estate Minute on Novus TV.


]]> http://www.metronews.ca/vancouver/live/article/150323 Thu, 04 Dec 2008 03:34:55 -0400 Ryan DeLuca, for metro canada http://www.metronews.ca/vancouver/live/article/150323
When it comes to Christmas lights, much like your chosen paint colours, keep them simple and neutral.  Opt for the white lights instead of the multi-coloured strands.  Also, keep all the exterior lights to a minimum.  Buyers need to be able to view the home without being blinded!  Then use the same discretion when it comes to your choice of tree ornaments.  Stick with classic ornaments that are less personal in appearance fitting within a colour scheme that works for you.  You can use this colour scheme as a tie to colours that will be found throughout the home.

Table settings are another great way to make a home feel cozy and inviting for potential buyers.  Use simple and elegant dishes and glasses and avoid any plates or cups that display cartoon characters or overly intricate designs.  Matching the table setting to your tree’s colour scheme (such as red and gold) can have the same effect without being perceived as “tacky.”

While Christmas villages and figurines are very popular, as with any listing, trinkets should not be taking over all available spaces on shelving and mantles.  Such items can become very distracting and can make it difficult for a buyer to view the space.  The same holds true on the outside of your home.  Avoid using inflatable snowmen and Santas to clutter up the lawn.  The goal is to strive for a simple elegance — not look like Santa’s workshop.

The essence of these tips can be applied to all households regardless of the holidays being celebrated.  Clean and classy holiday decorations can light up a space and spark the imagination leading a buyer to fall in love with your home.

– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada in Vancouver, and host of The Real Estate Minute on Novus TV.


]]> http://www.metronews.ca/vancouver/live/article/147036 Thu, 27 Nov 2008 00:30:00 -0400 Ryan DeLuca, FOR METRO CANADA http://www.metronews.ca/vancouver/live/article/147036
First, it is important to de-clutter as much as possible when you list. Most vendors assume that moving all their excess furniture and knickknacks into the closets will help enlarge the space, but if your closet is overflowing buyers will be lead to think that you do not have enough storage space available. Keep your closets no more than three quarters full to give the illusion of having more storage than you need. Move all your extras out of the home all together.

Second, make sure that if you do not have a lot of windows casting natural light, you have enough internal lights to brighten up the space. Dark rooms feel smaller than they actually are. Modern track lighting is a good choice as it will allow you to point the individual lights into the corners that lack natural lighting. In addition to overhead lighting, ensure that there is ample ambient lighting. These include side table lamps and floor lamps — they give a more flattering and cozy feel.

Finally, stick to a lighter colour scheme. Dark walls with a light ceiling can make an already small space feel claustrophobic.  Stick with lighter flooring and lighter paint/tile colours. This will give the illusion of space and openness.

– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada in Vancouver, and host of The Real Estate Minute on Novus TV.


]]> http://www.metronews.ca/vancouver/live/article/143664 Thu, 20 Nov 2008 03:35:44 -0400 Ryan DeLuca, FOR METRO CANADA http://www.metronews.ca/vancouver/live/article/143664
There are a few tips all owners of multi-million dollar homes should follow closely in order to move that property quickly and for the greatest return possible.

Décor comes first. The older wealthy vendors tend to stick to designs that are very personal — gold finishings and ornate furnishings. The younger upscale vendors tend to like like more broad and neutral schemes including chrome finishings and a very modern décor. Whichever scheme appeals to you, when it comes time to sell, it is important to appeal to the widest audience in your market.

Next, while most realtors will stress to the average home seller to not overspend on appliances and finishings (in most cases you will not be able to recoup the investment if you go too high end), buyers in the million dollars and up market expect the best. Try and avoid the pitfalls of using sub-par appliances, laminates and faux stone ceramic tiles. Instead stick to stainless steal, natural stones and woods for that classic elegant feel.

Finally, use a real estate company that will market your property properly as a large portion of high-end properties are sold to overseas investors.

– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada in Vancouver, and host of The Real Estate Minute on Novus TV.


]]> http://www.metronews.ca/vancouver/live/article/136878 Thu, 06 Nov 2008 03:38:17 -0400 Ryan DeLuca, FOR METRO CANADA http://www.metronews.ca/vancouver/live/article/136878
In a slowing market, pricing can be the determining factor between a listing cancellation, a long drawn out sale, and a quick sale. It is in determining fair market value that a lot of sellers are having problems. Over the past few years in the hot Vancouver market, realtors would look at comparable properties in the neighbourhood and price slightly above the last sale in the area. More often than not, this was also well above the city assessment value of the property. As the market softened and prices began to slip, realtors have had to price properties below similar comparable sales in order to sell them. It is at the point now where market value has even fallen below last year’s assessments.  It is a tough time for sellers, but a great time for buyers.

Sellers obviously want to get the highest price for their property. After all, most people think their home is much more appealing than almost every comparable home in the area. The problem is buyers do not see things this way. They know that as the economy continues to soften housing prices will continue to slip and that they can get more for their money.

This is why it is imperative for all sellers to get a proper market analysis from their realtors. A market analysis will show you what comparable homes are on the market in your area. It will also show you how long those properties have been sitting on the market, and which ones were removed due to lack of interest. The next step is to keep on top of your pricing. As the market shifts, you must be willing to adjust your list price accordingly. No seller likes to hear the word “price reduction,” but in a buyer’s market flooded with inventory, often that will be something you have to consider if you are not able to sell within the first couple of weeks.

Trust your realtor’s advice and keep your property priced right. Every month your home sits on the market, those carrying costs such as mortgage payments and utility bills will eat away at any profit you have. If you want to sell your home, then price to sell, if not, take it off the market and save you and your realtor time and money.

– Ryan DeLuca is a realtor with Sotheby’s International Realty Canada in Vancouver, and host of The Real Estate Minute on Novus TV.


]]> http://www.metronews.ca/vancouver/live/article/133181 Thu, 30 Oct 2008 03:05:08 -0400 House League by Ryan DeLuca http://www.metronews.ca/vancouver/live/article/133181
Essentially the key difference between selling a property and selling an assignment is that with one comes the transfer of land and with the other comes a contract giving the right to complete on a property. It is for this reason that it is always advised you use both a realtor and a real estate lawyer to assist you through the process. These professionals will have access to contracts drafted specifically to deal with the complexities of selling and buying assignments.

One of the risks involved is the often misguided notion that once you sell your contract you are no longer liable to the developer. What is important to note is that if the new buyer does not complete on the property, the developer retains the right to seek legal action against the original purchaser. To protect yourself, you can request a release from the developer so that you will not be legally responsible to pay should the “assignee” (individual who purchased the assignment) not be able to complete. While most developers will not grant this request, it is worth asking.

It is also important to know that a developer’s permission is usually required to sell an assignment and that some developers charge for it. With all the variables, you should really do your homework. It is not a simple sale and without the help of professionals, you can open yourself up to consequences.

]]> http://www.metronews.ca/vancouver/live/article/129837 Thu, 23 Oct 2008 03:01:25 -0400 House League by Ryan DeLuca http://www.metronews.ca/vancouver/live/article/129837
Leaky condo syndrome is a catastrophic failure of the building envelope leading to water ingress that potentially leads to rot and mould.

This was caused by many factors including a shift in building codes allowing for the use of inadequate materials and poor design.

Use a realtor as they have an intimate knowledge of the area you are searching in and will likely be able to steer you away from buildings with known problems.

Second, when writing an offer on a condo, request a Form B from the property management company. It mentions if there are any upcoming assessments being levied against the homeowners.

Third, read through the last two years of strata minutes. Issues that have arisen in that time, including leakage, will be mentioned there. 

Fourth, check if the building was built with “rainscreen” technology or if it has been repaired to have it. “Rainscreening” is a small gap between the exterior and interior walls of the structure that allows any water that penetrates from the outside to seep down and escape. 

]]> http://www.metronews.ca/vancouver/live/article/123644 Thu, 09 Oct 2008 02:34:08 -0400 House League by Ryan DeLuca http://www.metronews.ca/vancouver/live/article/123644
While it is true that all buyers are advised to have inspections as part of their contract conditions, paying for your own home inspection can get you more money when you receive that offer.

Every home, whether new or old, will have various inherent problems.  It can be as minor as a cracked tile or as serious as mould. While some of these issues are easy to see (patent defects), some are not visible to the naked eye or upon a reasonable inspection (latent defects) and therefore must be disclosed to any potential buyer.

Having your own extensive home inspection will allow you to address these issues before any buyers have a chance to find them and will help protect you from future lawsuits.

With so many options for buyers these days, people are searching for a home that requires as little maintenance as possible. 

While having an inspection report for potential buyers to peruse is a great selling feature, making sure you use a reputable inspector is going to be just as important. As with anything in life, you get what you pay for. The last thing you need is to provide an inspection report to a buyer only to have their inspector find issues yours did not. Look for an inspector who is registered with an organization such as the Canadian Association of Home and Property Inspectors.

In the end, the more you do to make the buyer’s purchase easier, the better it will be for you.

]]> http://www.metronews.ca/vancouver/live/article/120539 Thu, 02 Oct 2008 02:42:58 -0400 Ryab Deluca http://www.metronews.ca/vancouver/live/article/120539
Let’s put it in perspective. The “subprime” mortgages offered in the U.S. were mortgages granted to people who would not normally qualify for such loans, primarily due to lower credit scores.

As housing prices in the U.S. began to soar in 2005 and 2006, banks began supplying subprime loans, believing the market would continue to rise. In 2007, as the U.S. market softened and interest rates went up, refinancing these loans became increasingly difficult, with more and more people defaulting and going into foreclosure.

As this happened, interest rates continued to climb, forcing homeowners who could barely afford their payments to foreclose on their homes. Mortgage insurance companies were unable to continue reimbursing banks, causing huge financial losses for many mortgage lenders. This inevitably led to the market crash.

It is important to note that while property values plummeted, it was due to a mortgage-lending crisis, not a real estate crisis.

In Canada, mortgages are regulated by stricter guidelines with fewer lenders and much harsher credit checks. 

Financial institutions examine applicants’ total debt service ratio: The ratio between the applicant’s total debts for housing, car loans etc., versus their total income. Most lenders will not consider you for a loan if your total debt is more than 40 per cent of your income. It ensures that if interest rates rise, or other financial hurdles are encountered, homeowners will still be able to afford their property and will not lose their homes to foreclosure.

The Bank of Canada is adding additional precautions by abolishing the “zero down” mortgage (in favour of a minimum 5 per cent down), and will no longer allow mortgages to be amortized beyond 35 years.

With low interest rates and a large selection of properties, it continues to be a great time to buy that dream house or condo.

]]> http://www.metronews.ca/vancouver/live/article/117287 Thu, 25 Sep 2008 03:42:04 -0400 House League by Ryan DeLuca http://www.metronews.ca/vancouver/live/article/117287