Some Exciting News!

I am so excited! Well, it has happened. I am so proud to now be a Member in Good Standing of the Institute for Luxury Home Marketing. What does this mean? I don't know where to start. In order to become a Member, I had to attend a specialized training course which covered such topics as demographics of the affluent, lifestyle segmentation, trends and amenities in today's luxury home product, and creating a marketing plan for the multimillion dollar property. A programme developed by Laurie Moore-Moore, President of the Dallas-based Institute for Luxury Home Marketing and Author of the book, Rich Buyer, Rich Seller! The Real Estate Agent`s Guide to Marketing Luxury Homes.

Most people do not have a million-dollar home, so why do my clients care. Every client is a million dollar client, no matter the price point! Skills learned in this course help me to keep my level of service at it`s very highest. The Luxury Market in The Highlands is still relatively small, growing each day, but I want every client to feel and be treated like a million bucks!
Being a Member gives me some additional perks. Along with the additional training, I have access to tools and resources that other agents do not have for marketing purposes, and super-important -- an amazing network of other highly skilled, trained and respected real estate agents across Canada and the United States for my clients moving from one area to another.

All this, along with the Power of ReMax and the branding of The REMAX Collection (a marketing programme designed specifically for luxury properties), I am ready for this year`s market! If you have questions about either of these programmes, wish insights into the current state of the market in Haliburton Highlands, or my unique marketing plan designed specifically for you, give me a call anytime! My cell phone is always on...705-935-1011.

Myths Busted

There is a disturbing trend in real estate these days. The ability of people to google, check mls, zoom on Google Earth has empowered Buyers ....mostly in a good way! Buyers are educated, they know what they can get for their money, they can check the neighbourhood and search out statistics. All good.
What it has caused though is a sense of "I know the market", "I watch mls", "I will just work with the listing agent". Here are some points to keep in mind:
1. Knowing what is for sale does not tell you what a property ultimate sold for - there is often a big gap! Therefore a Buyer can easily overpay;
2. What you see on the internet is often deceiving. Good photos can make a property look incredible, and not show the drawbacks. Equally so, and more importantly.....bad photos can have you overlook the perfect property, extending your search time;
3. MLS does not provide a good feel for different areas. A property in the Haliburton Highlands compared to a property in Muskoka or The Kawarthas are not all equal. Your Realtor can explain why there are differences and what your money truly should get you in each individual market;
4. Calling the Listing Agent each time you see a property causes extra work for you, the prospective Buyer. The Listing Agent, until a Buyer Representation Agreement is signed, is working for the Seller. They do not know your likes, dislikes, price point, area of interest. Therefore you continue to call agents, only to find out that the property is not for you, and you start again.
4. Working with the Listing Agent does not give you a better purchase price. At the end of the day, the Brokerage gets paid, and the Seller wants the price that the Seller wants. The listing agent will sell the property - if not to you, then to someone else, all they have to do is wait. Remember, the listing agent's job is to get the Seller the best possible price for their property, not create a fire sale so they can get paid quicker.
One of the scenarios that we are seeing today is a couple drive to the area on Saturday to look at cottages. They have 4 appointments with 4 different listing agents (tough to coordinate to start with!). The couple sees each individual property - none are what they are looking for, they have lost a full day with no results, and each of those 4 agents knows nothing about the Buyers or their goals. The day is a loss, and the next weekend the couple start the dance all over again!
Here is what should happen: the couple talks to 3 or 4 different agents to get a feel for each of the agents. Are they a good fit? Are they truly interested in my goals? In my wishlist? Do I get a sense that this agent will spend time on my behalf? Do they seem to have a knowledge of the listings currently on the market and the area/town/lakes? Once the "right fit" is found, the legwork is in the hands of the Buyers' agent. That agent will look at what is on the market, with their knowledge of each lake (big, small, weedy, good boating, good swimming, quiet), they will weed out the listings on lakes that don't fit the Buyer's wishlist. Then they will look at factors such as seasonal, access, water frontage, # of bedrooms, move-in ready or needing tlc.....THEN, and only then, will they forward possible properties to the Buyers. The Buyers only look at properties that are true candidates. A date is set, the Buyers come up, and the agent takes them to each of the potential properties. The Buyer may not like what they see...that's o.k. It's a process. But that initial meeting is also crucial, because the agent is going to learn even more about you by your reactions to the properties that he/she has shown you that day.
Buying a property should be fun and exciting....not a huge amount of work. Let someone be on your side, work for you, and care for your happy ending.

Lake of the Week - Kennisis

Each Monday I will be showcasing a different lake in the Highlands - this is the first! Kennisis Lake is part of a 2-lake chain that joins with Little Kennisis Lake.

 If you enjoy that "Muskoka feel" then Kennisis Lake is for you. A large, deep, clean lake that is full of bays and islands to explore.
Located about 20 minutes North of Haliburton Village, the lake is part of an area called the Kennisis Lake Tourist Area. It has an average depth of 77.1 ft (23.1 m) and is 223 ft (66.9m) at it's deepest point, and has a surface area of 346 acres or 140 ha. This lake has been developed for many years and offers a mix of rustic, smaller cottages and million $plus homes and cottages. The West Shore area commands a higher price point, but there are lots of options on such a large lake. Go under the bridge into Little Kennisis Lake and find even more boating possibilities.
At the West end of the lake is a dam that leads into the Kennisis River - a boat launch and large parking lot can be found there as it is the only way to get to Red Pine Lake, a boat-access only lake. There are 3 boat launches and a Marina, and is near the famous Haliburton Forest and Wildlife Reserve, including the Wolf Center - a great place to visit! Check out the Cookhouse Restaurant at the Haliburton Forest for a great meal, and meander through the Logging Museum. One of the islands - Nora's Island, was donated to the Haliburton Land Trust for public use and offers 22 acres for a great picnic destination.
Kennisis is one of Haliburton Highland's largest, most scenic lakes (arguably). A fabulous destination - even if just for the day!

Ready to Buy that Cottage?

Stunning Kennisis Lake

So you are looking for a cottage. You may have vacationed in the Highlands before, have friends here, perhaps rented a cottage in the area....and now you want your own! Spring is arriving and showings have already begun - people are snowshoeing into the seasonal cottages - they can't wait to get their cottage for the summer!
Are you ready? Have you got your finances in order? Do you have a deposit? Here are some things your agent will need to know to have successful outings:
1. What are you going to do at your cottage: boat, waterski, sea doo, swim, canoe/kayak? Your activities help define what type of lake you need to purchase on, and what type of shoreline you'd require;
2. Are you social people? Do you like to know your neighbours, visit at the dock, or do you prefer a "getaway" with privacy and quiet? Again - this influences the lake, the area, and the property type.
3. Will you use the cottage in winter? If your budget does not allow for a 4-season cottage, are you willing to look at a 3-season cottage that could be easily converted?
4. Are you entertainers? Will you have children and their friends; brothers and sisters and their families; friends of your own? If so, you will need parking space and possibly a spot for a bunkie. Some cottages are very restrictive with space for one, maybe two vehicles and little turnaround space. Will this work for you?
5. Travel Time - our County is huge and we have lakes in every corner. Some people only want a 2 1/2 hr. drive from their home which limits the lakes that you can view cottages on, but note that some of our best lakes are worth driving to!

My last tip today - BE HONEST with your Realtor. We are here to help, and what you tell us about your personal life, habits, finances....is all held in the strictest confidence. But we need that information to provide you with the best possible service, and the perfect outcome for you and your family.

Passing Down the Family Cottage

Yesterday I had the opportunity to attend a seminar by Geoffrey Parker of the Stonehaven Financial Group Inc in Unionville. As a real estate agent in beautiful Haliburton County, I am not directly involved in family matters as people decide the best route for dealing with the family cottage, but I do get to hear lots of stories.
The seminar touched topics such as dissention in the family (when one child of the owner wants to keep the cottage, but other members want to sell and get their shaire), the cottage as part of a will, capital gains, probate taxes and some options for passing the cottage forward to family.
Did you know that a family can hire a facilitator to help come to an agreement? Holding a "family council" is a great idea! Remember that game as kids where everyone sits in a circle and a sentence is whispered, and a completely different sentence comes out the other end? Making sure that everyone in your family understands your intentions with the family cottage is crucial. Word of mouth does not work. Hold a meeting, share your plan, and have everyone hear the same thing. Facilitators are a great tool if there are differing opinions (although, please remember - it's YOUR cottage, not theirs). Facilitators are trained to offer a "safe" environment for people to share their views and concerns. They are not decision-makers and they have no vested interest in the outcome, they simply follow an agenda and ask key questions to get to the route of the situation.
On the topics of capital gains, "gifting", selling for $1.00, leaving a cottage in a will - these were complex with no clear cut answers, and for that reason, I will not go into details here. It is best to consult your lawyer and accountant for advice - but there was one other really neat topic - electing to change your primary residence.
Since you do not pay capital gains on your primary residence, it may be beneficial to elect to switch your designated primary residence in certain years where the cottage has a large increase in value. For example, you purchased your cottage for $200,000 and then either by some crazy market event or by massive improvements, your cottage increased in value to $500,000 in one particular year. For the year that you sell your cottage or you pass away and it becomes part of the estate, it may be beneficial to designate the year of marked value increase as a primary residence year. Sound confusing? It is....and it does not apply to every situation, but it is certainly something to consider!
The best advice I can give at this point? Have a written plan .... make sure your family knows your plan ... and leave it flexible enough that at the time of your passing, it can be altered to ensure the best tax savings to your estate. Above all...preserve the family. These things can be messy and can create bad feelings....clarifying everything now will help preserve the family unit that is your #1 asset!