Buying a home is exciting but also a little bit scary, especially if you’re a first-time buyer or upgrading from a condo to a single detached family home. The nerves are born from uncertainty. Do you have enough information to make a wise decision? Factor in the unique real estate landscape of Central Alberta and the adrenaline really kicks in, having you scramble to gather as much intel as possible before hitting the market. Thankfully, our Red Deer real estate team has seen it all and guided clients, such as yourself, through the process for nearly two decades. Today we put together a quick and easy guide to buying a home in the area.

10 Tips to Buying a Home (and Choosing a Realtor) in the Red Deer and Central Alberta

1. Get Pre-Approval on Your Mortgage

Don’t spend valuable time looking at homes that don’t suit your budget. Get pre-approved on your home loan as soon as you’re ready to put your interest out there on the local market. Having an exact cap in mind, and on paper, allows you to focus on homes that are right for you. Of course, the loan is not always as clear cut as it could be, so be mindful of the entire process. It’s important to learn about the hidden costs (processing fees, etc.). Not an expert in mortgages? We are. Contact us at 403.347.0744 to check step-one off of your list, before considering listings.

2. The Perfect Time is Your Time (Ignore Media Hype)

If you’ve found this guide it means that you’re ready to start the home buying process. Your career (or business, etc.) and family (no matter what that looks like) is ready for the transition. That means the time is right for you, and that’s what’s most important. Many prospective home buyers get caught up in the media hype (or the advice from friends and coworkers) and try to strike on the home purchase at some magical (and often arbitrary) time. The newspaper tells you one thing about interest rates, the local TV anchor delivers news on market forecasts, the voice on the radio proclaims that you should wait another six months, and your friend’s neighbor’s cousin’s uncle (who sold swampland in Florida) has a hot tip on a development that will be ready in 2-5 years tops. Forget them all. Instead, trust your instincts and move forward when you are ready.

3. Buy for Today and Tomorrow

Take a look at yourself, in five to ten years. That’s what you’re buying for today. Will your family occupancy grow (for young couples, etc.)? Will your family occupancy decrease (for soon-to-be empty nesters, etc.)? Will you be traveling or entertaining more? Do you plan on getting a dog or a cat? The scenarios that weigh-in on the needs of your home are endless and only you can take accounting of them. While you can’t predict it all, you can make an educated guess. Proceed accordingly.

4. See Beyond the Price Tag

The price of a home is not the only the mortgage you pay. You want to factor in all “sleeper” costs too. This can include utilities, homeowner association dues (where applicable), property tax today and property tax increases that can come with any additions and/or renovations that you anticipate making in the future. Plan for these expenses today and you’re monthly/annual budget will be in the clear.

5. Comprehensive Home Inspection

This may seem like common sense but often excitement and emotions get in the way. On the surface you may have come across the perfect property but the bells and whistles may cloud your judgement. But just like with a car you need to have someone look under-the-hood and make sure it’s all there and in working order. Have a professional real estate team conduct and/or dictate this inspection for you, leaving no square-foot unturned.

6. Don’t Attempt a Negotiation on Your Own

One of the most common analogies made here is found in the courtroom. You wouldn’t represent yourself in the court of law during a trial, right? Certainly not. Attempting to negotiate the price of a home with a seller (and/or their own agent) is as risky a scenario as the one presented in the analogy. Bring in a professional real estate team that is reputed in home-buyer negotiation.

7. You’re Buying into a Community, not Just a Home

One of the most exciting parts about buying a home is all that comes along with it, including the surrounding community. Spend some time immersed in it before making a purchase decision. This includes meeting the neighbors, touring the local school (where applicable), walking about the area, enjoying the recreation, and spending a few hours at the local coffee shop to gauge population traffic, and gossip!

8. Consider Acreage and Developments Too

While you’re excited about your home purchase you want to make sure that the property you do choose is 110% right for you. Sometimes that home is not yet ready. Thankfully, the Central Alberta area is ripe with both acreage and current developments. Is building a home an option for you? Then you may want to have a look at the multitude of Red Deer county acres available on the market. There are also numerous and highly attractive developments coming up all over the Red Deer region, developments that our team is close to and connect you to. The key consideration in all of this is time. While you may be ready to move in now, perhaps it’s worth buying for the near future (acreage or development in process) and taking up temporary residence in a rental accommodation until your home (your perfect home) has been completed.

9. Choose a REALTOR^® Over an Agent

There are options available to you when soliciting real estate services. But when it comes to buying a home in Central Alberta you want to work with a Realtor^® above all else. A Realtor^® has unlimited access to properties that meet your criteria, is an expert negotiator, is more knowledgable about the entire purchase process (paperwork and red tape included), and adheres to a strict code of ethics. Learn more about why you want to use a Realtor^® here.

10. Choose a Team Over an Individual Agent

Not only is choosing a Realtor^® the key to a successful home purchase, but choosing one that has an entire team at their side will provide you with unparalleled peace of mind. A real estate team means that you have someone, at all times, on the market and hunting down the property that meets the criteria dictated by you. It also means that you have a specialized expert working on each step of the process so that you don’t have to. Would you rather have one person, or many, managing the purchase of your home?

Ready to start talking about your new home in Central Alberta? Contact the Dusty Smith Real Estate Team anytime at 403.347.0744 or learn more here.

Our real estate marketing company is proud to announce the newest addition to our professional team – Mellisa Hollingsworth.

To be honest, we were a little intimidated by her at first. Mellisa, a 3x Olympian is one of the most decorated Skeleton athletes in the entire world. For those that don’t know what Skeleton racing is, it’s one of the fastest (winter or summer) Olympic sports in existence. Athletes explosively push their sleds before diving on and sliding facedown/headfirst down a frozen track to forces up to 5g, reaching speeds over 140 km/h! Mellisa is a Canadian Champion, an Overall World Cup Champion and when she nabbed the Olympic Bronze Medal in 2006 she become the first Canadian to win an Olympic medal in the sport of Skeleton. Her accolades read more like the list of accomplishments of ten athletes.

Of course, we got over our intimidation pretty quick, as Mellisa is one of the warmest people you could ever meet. Admirable is her true identifier, and we are honored to have her on the team. Today we take a look at why you will want our newest team member by your side when buying or selling a home in Central Alberta.

How Mellisa Hollingsworth Will Apply her Background and Credentials to Your Real Estate Needs

Unwavering Dedication

You don’t become an Olympic champion without applying a level of dedication that 99.9% of the global population could never match. Mellisa has taken her athletic drive and dedication and applied it to her latest craft – real estate marketing. Now a consummate professional in her field, she has been able to translate that dedication to her clients. With Mellisa going to bat for you in your home sale or purchase you gain unwavering commitment to the accomplishment of your goals.

Speed

The Dusty Smith team just got more efficient at selling your home by a g-force of 5. If you’re selling a property you don’t want to sit on it for too long, handcuffing your wealth when it could be better used in a new investment. Speed is in Mellisa’s nature, and she works efficiently towards the sale of your home.

Strength

It takes thick skin and vigor to not only catapult facedown on an icy track but to do so at a globally competitive level with the whole world watching. Imagine how this kind of strength will translate to negotiations (in your favor) for buying or selling your property!? As a seller, Mellisa’s inherent gift will work to sell your home at (or very near) your listing price. As a buyer, your opportunity to negotiate a price that suits your budget while getting additional concessions in the process multiplies exponentially.

Loyalty

Mellisa has represented her country with pride on the world stage for over 12 years. She was also born (Lacombe AB) and raised on a ranch right here in Central Alberta. She has had numerous opportunities come across her path to take her anywhere in the world she pleases but her allegiance remains where she is growing her exciting professional career. This commitment to her roots not only speaks to character, it speaks to the simple fact that Central Alberta is a great place to live. Allow Mellisa to help you build or maintain your own foundation in this Canadian paradise. Her loyalty to you will be unmatched by any other real estate firm in the region.

Humble

For all of her amazing accolades and attributes Mellisa is as down to earth as can be. She conveys the friendliness, warmth, and sense of community that this neck of the province is known for. When you have Mellisa at your side you not only gain an accomplished Realtor, you gain a friend.

Call the Dusty Smith Team at 403-347-0744 for inquiries regarding your home purchase/sale anytime or (click here).

How to Price Your Home for Sale in the Red Deer AB Market

One of the most challenging things facing homeowners who are about to put their home on the market is how to determine the listing price. This is especially true for residents and real estate investors in Central Alberta. The economy and real estate landscape of Red Deer and the surrounding area are among the most unique in the country, and thus your pricing strategy must be customized accordingly. Today, we help you with this process by nipping a few myths in the bud and guiding you in the right direction.

4 Tips to Pricing Your Home When Selling in the Red Deer Alberta Market

1. Overpricing to Leave Room for Negotiation Does Not Work

The biggest myth in setting a listing bid is that over-inflating the price will work in your favor. The mentality, is that if you start very high you leave room to negotiate and ultimately land on the price you found most acceptable in the first place. Theoretically the buyer thinks that they drove a hard bargain, and are more likely to buy your home now that they can claim a victorious negotiation. Sorry, but this isn’t Pawn Stars. Buyers in Central Alberta are smart. They can sniff an overinflated listing price a mile away and instead of making that initial contact they and their agent will move on to a similar property with a more realistic price tag.

In addition, the inflated price will keep your home on the market much longer. While you may have the patience to wait until someone bites, the longer your home sits on the market the more that buyers become suspicious. They begin to think that something is wrong with the property. Remember, in the Red Deer buyer’s market perception is reality.

2. Don’t Undervalue Your Home Because of Economic Concerns

There are some sellers in Central Alberta that panic during economic downturns. Their fear of a slow economy has them making hasty decisions, undervaluing their home. The thought process is twofold. For one, they are making the assumption that the economy won’t bounce back, real estate market included. In addition, they think setting a low listing price will equal a quick sale and prevent them from losing additional wealth should the market continue to fall. Once again we have a misinformed point of view.

For starters, this is Red Deer Central Alberta we’re talking about. The long standing economic capital of Canada. The energy-rich sector will bounce back strong and along with it the real estate market. Setting too low a price will make you vulnerable to hungry outside investors looking to capitalize on your fear, knowing that prices will again return to form. Don’t let the panic get to you and don’t fall prey by undervaluing your property.

Secondly, setting too low a price does not automatically increase interest and offers. Remember our statement regarding perception is reality above? Well that applies here as well. Undervaluing your home in the listing price will make many agents and buyers cautious. They assume that if you’re unloading your property at a relative steal then something must be amiss. Your property will be passed over, receiving fewer views and a lesser opportunity to sell. Simply put, set your property at its true value.

3. No Need to Renovate if a Renovation is Not Needed

Many property owners end up dumping additional funds into renovations before listing their home, thinking that this will allow them to ask for a proportionately higher price. This can be true, but it is not always so. Only renovate where needed. If a room in a home is in obvious disrepair or a needs functional makeover then it certainly makes sense and can increase your asking price. But if you are planning renovations to simply enhance aesthetics you may be making a costly mistake. Just because your tastes dictate the necessity does not mean that prospective buyers would have wanted the same. You may end up eating an additional expense that does not allow you to actually raise the price of your home.

4. Selling Your Home w/a REALTOR® Will Get You Closest to Your Listing Price

Some people think that selling their home on their own will bring them a greater overall return on their listing price. This is not true. When you secure the services of a REALTOR® you avoid a hoard of expenses incurred by going at it alone. There is significant time and expense involved in listing your home on online/offline resources, marketing the property, negotiating with prospective buyers, writing/reviewing/amending contracts, and processing lone applications and inspections. A REALTOR® alleviates all of this. In addition, your property will be placed in view of more prospective buyers when you gain access to a real estate marketing team’s network. On top of the views, you’re far more likely to receive an offer closer to your listing price when a professional REALTOR® is at your side. Simply put, the opportunity cost of not using a REALTOR® far outweighs the results of any attempt to list your home on your own.

The Dusty Smith Team has been selling homes within 1 to 2% of listing price. Call the Dusty Smith Team today to ask the right questions about selling your home.

Red Deer Christmas Events – Festival of Trees

The holiday season officially begins as this moment as we pen this week’s post on the Dusty Smith Real Estate Team blog. Red Deer Lights the Night  tonight (at press), but that’s just the beginning. Whether you are a long time resident, new to town, or are preparing for a move to Red Deer you will find no better time of the year to find out why our Central Albertan city is one of the greatest in all of Canada. Take a look at this early Christmas event schedule to learn more.

Must Attend Community Events to Launch the 2015 Holiday Season in Red Deer

Red Deer Lights the Night @ City Hall Park / Downtown Red Deer – Nov 21 (4-7 PM)

No matter the year, Lights the Night marks the arrival of the holidays in Red Deer Alberta. Traditionally landing on the third Saturday of November Lights the Night gathers residents and visitors alike to City Hall Park. Celebrations include live music (the Overdue Blues Band in 2015), a Winter Market, a Kid’s Zone, baked goodies and free hot chocolate and most certainly a visit from Ol’ St. Nick. The highlight of the affair is the annual lighting of City Hall Park’s version of the Rockefeller Christmas tree and is capped off with a fireworks show – a breathtaking scene against the snow-crisp backdrop of Red Deer! This event sets the festive tone for the rest of the season and serves as a true representation of community in our great city.

Red Deer Festival of Trees @ Prairie Pavilion – Nov 25-29 (Various Times)

This multi-day affair is a blast for the entire community and has something for all-ages, tastes, and interests. The event kicks off with the Preview Dinner at Prairie Pavilion at Westerner Park on the 25th at 6 PM. The Preview Dinner is a formal gala exclusive to event sponsors and consists of fine dining and both live and silent auctions. On the following night (November 26 at 6 PM) is the Taste of Red Deer, an affordable dining extravaganza appropriate to family units and couples alike and is concluded with a raffle draw and silent auction. November 27th is highlighted by the event’s Festival of Wines, entering its 10th year in featuring an expansive selection of fine wines, craft beer, appetizers, raffles, and another silent auction. One of the downright most heartwarming (and cute!) events of the Festival is Mistletoe Magic – a formal fathers and daughters date night that features an evening of entertainment, dining, dancing, and one of the largest individual raffles of the event. There is simple so much to cover for the Red Deer Festival of Trees which also includes the Candy Cane Lane, the Gift & Sweet Shop and Breakfast with Santa on the final day. Learn more about the 2015 Red Deer Festival of Trees here.

Christmas Cookie Walk @ Victory Church of Red Deer – Nov 28 (9-2 PM)

This humble affair is essential to getting a head start on your Christmas baking curating for the holiday season. Absolutely delectable cakes, squares, loaves and of course cookies are on deck. What’s even better, is that while you fill your bellies and freezers (yes, do save some) you do some good for the community at the same time, with all proceeds going to local families in need! Once again the sense of community in Red Deer shines with this quaint event.

Jingle Jazz I & II @ Studio A, Arts Centre – Nov 30 to Dec 1 (7:30 PM)

Get down to the smooth sounds of Jazz as the RDC Big Band and Faculty Jazz Ensemble pours sweet honey into your ears with some hot and heartwarming holiday classics. This event is perfect for those looking for a taste of arts and culture in Red Deer at the onset of the holiday season.

The above represents the beginning of the holidays in our Central Alberta hub. Rest assured that one or more of our Red Deer real estate team will be in attendance so if you’re new to town be sure to say hi (click here for team bios). Stay tuned for more recommended events for the holidays as we prepare to enter December. And as always, should you have any local real estate inquiries whatsoever do not hesitate to contact us, anytime.

Why You Should Use a REALTOR® to Buy a Home in Red Deer

You’re ready to buy a home in the Red Deer area. For starters, congratulations on your exciting decision! Now comes the next one, deciding upon who, if anyone, should help you with the process. Buying a property, whether it’s your first or second, is one of the most important decisions that you’ll ever make and because of this it should be given the appropriate consideration. Are you prepared to go at it alone? Are you considering a third party to help you with the process? Below we have detailed key reasons why choosing a local REALTOR® is the wisest choice when buying a home in Red Deer or surrounding Central Alberta region.

6 Reasons Why You Should Use a Local REALTOR® to Help You Buy a Home

1. Unlimited Access to Properties That Meet Your Criteria

Local REALTORS^® have full access to Board MLS^® Systems. What this means for those of you interested in property in Central Alberta, is that you are presented with well over 3000 listings! In addition, a reputable Red Deer area REALTOR^® will have special featured listings that include residential, commercial, and recreational properties in addition to acreages and more. Brokers and independent agents will have a hard time matching that.

2. Expert Negotiator at Your Side

Would you represent yourself in the court of law without a lawyer? Certainly not. To attempt to negotiate the purchase of a home on your own is just as ill-advised. You need someone to go to the proverbial bat for you, ensuring that your interests alone are protected and that you do not sway from your budget. This does not just apply to the price of your home, but to concessions too. As detailed in our recent article on why now is the perfect time to buy a home in Red Deer, buyers are in a position to make unprecedented demands from sellers regarding closing costs in addition to furnishings (for those sellers leaving the city) and even renovations. Only a professional REALTOR^® has the negotiation skills to pull it all off for you.

3. More Knowledgeable About Real Estate Developments Directly Related to the Region

The economic and real estate landscape of Red Deer in the most unique in all of Canada. Developments in the market change all of the time. This has been very evident given the recent economy. Because REALTORS^® are required to keep abreast of local developments through courses, workshops, conventions and the like, a REALTOR^® maintains a high level of intimate knowledge about real estate in their locale. They will provide you the information you need to make an informed decision, including comparable prices, housing market conditions, and residential/commercial property trends. No other individual representing you during your property purchase will pack the same level of authoritative weight.

4. More Knowledgeable About the Local Community

When you buy a home you aren’t just buying square footage, you’re buying into a community. The due diligence in buying a home applies to this as well. You may be able to access a lone property will relative ease, but assessing a neighborhood and entire community that is new to you is impossible in a short amount of time. An expert local REALTOR^® however, already has a wealth of community knowledge, and can provide both tangible and intangible information on the community, including which household in the neighborhood is the most gossip worthy!

5. Paperwork and Fine Print

Buying a property is concluded with a seemingly never-ending pile of paperwork and fine print to go through with a fine tooth comb. Navigating it all, filing the right documents in the right places and making sure that you’ve dotted all of the i’s and crossed the t’s is far too daunting without proper eduction in the process. You don’t want to miss a thing in the purchase contract, loopholes included. A local REALTOR^® will be expertly versed in all conditions and contingencies that apply to local area purchases, and manage the documentation on a daily basis. It’s their job. Let them do it for you while you focus on one thing – taking ownership of your dream property.

6. Adheres to the Strictest Code of Ethics

The most transparent thing that sets REALTORS® apart from real estate agents and brokers is that in Canada, a REALTOR® is a member of the Canadian Real Estate Association (CREA) and must subscribe to the REALTOR® Code of Ethics. This code is a strictly enforced program that consists of 17 articles that govern the standards of practice. It does not apply to standard brokers or agents. When seeking an individual or team to help you buy a home in the Red Deer area only solicit the services of one that bears the REALTOR® registered trademark on their website.

In conclusion, it should be noted that the sole fact that someone is a REALTOR® does not immediately qualify them as the best to serve your needs. You need to verify that a proper support system in place. Only a team can effectively communicate with buyers and provide a comprehensive level of service that will optimize your position as a homebuyer. To learn more, call us at 403-347-0744 or complete the form found here.