Ask David...
Real life answers to your Real Estate questions
Dear David: My neighbour is proud of her beautiful home and has it listed at what seems like a really high price. She's hoping to snag a Toronto buyer. What do you think? — Wondering Neighbour
Dear Neighbour: While it's possible that your neighbour's plan could work, she'll likely have better luck listing her home at fair market value. Pricing a home can be tricky. Setting a listing price is a decision needs to be made objectively, based on concrete factors like location, features and condition. When a home is particularly beautiful or unusual, it's easy for emotions to get in the way. This can sometimes cause homeowners to set a more subjective price, based on what they've paid to decorate or renovate, or how much they need to finance their next move. Will an out-of-town buyer fall for a subjective price tag? Not usually. No matter where buyers come from, they've likely shopped around and are familiar with what their money can buy. Generally speaking, a beautiful (overpriced) home can expect to generate some initial foot traffic from curious looky-loos, or even a few low-ball offers. But over time, these homes tend to by overlooked by savvy buyers and commonly sit on the market. In contrast, homes priced at fair market value are more likely to bring immediate attention and in some cases, competing offers (even in the higher price ranges). The closer your neighbour can come to pinpointing the fair market value of her home, the better chance she'll have of selling it for the best possible price. Dear David: We have dogs living next door to us, we often see them wandering loose around our yard. I'm not a fan of dogs, or confrontation. What can I do? — Pet Free Zone Dear Zone: While you'll want to check the animal control bylaws in your specific city, it is considered unlawful for dogs to be "at large" (roaming off leash) anywhere outside of their owner's property, at least within the tri-cities. This means that if the dogs leave your neighbour's property, they must be under control by means of a leash at all times, unless they are in a designated offleash area. As a good neighbour, I would tend to be understanding of a dog that got loose accidentally. However, you imply that this happens on a regular basis. For your comfort and safety (and for that of the unsupervised animals), you may wish to alert animal control so that they can inform your neighbour of the pet bylaws in your area.