Zen And The Gentle Art Of “Renesting”

Zen And The Gentle Art Of Renesting

A week or so back I received a request for a few “checklists” I created some years ago. It put me in mind of an Update I sent out in 2006. Here is a revised version of that communication which is just as pertinent now as it was then.

People buy and sell for a multiplicity of reasons. Over the years I have assisted many clients whose families were expanding and many whose families were contracting. Of late, I have seen more and more (or maybe I am just more aware of them) who are planning for (or reacting to) the oft referred to “empty nest syndrome”. This proliferation prompted me to develop a program tailored to address the exercise (and yes, it is an exercise that warrants much thought and careful planning). Simply put, it is the process of taking existing Real Estate and converting it into the desired next home (sometimes, retirement dwelling) and ideally, maximizing proceeds and minimizing outlay.

We hear the term “timing is everything” and I’m sure we believe it, but, alas, oft times we fail to make the effort to ensure that we take advantage of that “timing”. In our busy, personal lives too, we often allow action-time to arrive, making these decisions in what is likely a less than optimal manner and moment. Think about the tax and estate planning we know we should be doing! This “shelter” part of the equation isn’t rocket science and can actually be most enjoyable. Truth is, that with our “busyness” we often just don’t really know where to start. To help in creating a “road map” I have developed a program incorporating some checklists designed to simplify the process and act as an aide memoire.  Hopefully it enables us to get our ducks, kids, parents, pets, jobs etc. in a row.

I have entitled the first part of the exercise “The When & Where Check List”. This is really a memory jogger which highlights the many necessary considerations – our present family position, financial situation, employment and so on, and enables a considered creation of the action plan (or plans) necessary. E-mail me at alanskinner@shaw.ca and I’ll be only too happy to forward a copy to you (I have done this in “word™” format for ease of customizing and printing). I will also attach the “New Home Checklist”. Or if you wish just visit my website and you’ll find these and others.

While many favour a “do it yourself” approach, I am totally happy to pop around and discuss the process with you over a cup of coffee [glass of wine ;)].  Some parts of the process are pretty standard but what I have learned is, that with our different situations, some “customization” is invariably necessary. Just call and set up a time.

November 2012 Numbers

So, what of our North Shore.  North Van detached homes sold are down ‘year to date’ by 22% from this time last year, attached (t/hses) sold – down 20% and apartments down 11% from 2011. Detached – average price is 6% higher than 2011 and inventory Oct 31st, 2012 up 37% from 2011. Average prices up 4% (t/hses) and up 1% (apts). Inventory (t/hses) up 33% from Oct 31st, 2011 and (apt) up 4% from 2011.

In West Van, detached number of sales to date 2012 is down by 48% from last year. Average price up by 8% and inventory Oct 31st, 2012 up 20% from last year. On the condo side – sales of attached (t/hses) are up, at 60 vs. 52 units; average price is now 20% higher. Active listings as at Oct 31st, 2012 (66 vs. 40).  Apartments sold are down from 2011 (143 vs. 184), with average price 13% lower than’ 11 (remember the small sample size) and active listings up 35% from Oct 31st, 2011 (129 vs. 95).

The ‘SnapStats’ (what price ranges are selling and which are not) is being extremely well received. I am now forwarding the past 12 month trend for not only N and W/Van but including ALL metro neighbourhoods as many were requesting. Just fire off an e-mail to me at alanskinner@shaw.ca asking for SnapStats. If any locations are not of interest, please ignore those areas.

Podcasts

North Shore Real Estate Radio

On an ongoing basis I pledge both my continued personalized service and a commitment to my reduced  business ecological “footprint”. A significant part is the radio (podcast) library which I’m continually creating.

All North Vancouver Real Estate “Updates”, reports and information articles, checklists etc. will be archived on my website and available for download or desktop listening 24/7. You can access the information you seek when the spirit moves and not when someone pushes yet another flyer into your mailbox. I am most excited about these developments. Input as to the topics for “programming” you feel would be of interest is strongly sought. Please e-mail This email address is being protected from spam bots, you need JavaScript enabled to view it or call me 604 988-7368 and 1-800-665-1455.

Click on the “Podcast” Icon in the top right of this article to listen now.

North Vancouver Real Estate

Podcasts

The When And Where Checklist

THE FOLLOWING ARE SOME CHECK LISTS TO BE USED IN WHAT IS OFTEN REFERRED TO AS “REHOMING

[Note: all are formatted in Word Perfect for ease of use – cut and paste on separate pages and print as many copies as you need]

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 CHECK  LIST – THE “WHEN” & “WHERE” EXERCISE

 

□ OUR AGES            ……………….. (      YRS) ………………..(      YRS )

 

□ OUR OCCUPATIONS   ……………. (until ………) …………… (until ………)

 

□ CURRENT HOME (A) ………………………………………………………………

 

□ OTHER PPTY/MAJOR ASSETS………………………………………………………

 

..………………………………………………………………………..

 

□ CURRENT VALUE   A) $…………………     B) $…………………     C) $………………..

* for a vague approximation of value, take last tax assessed value and gross up by 10% – NB – don’t hesitate to call Alan for a more accurate estimate.

 

□ PROPERTY RELATED DEBT   A) $……………….    B) $……………….   C) $……………….

 

WHEN WOULD BE IDEAL TO SELL/MOVE?   MM/YR   ………………………

 

□ CHILDREN/AGES………………………………………………………………..

 

□ PARENTS…………………………………………………………………………

 

□ OTHER FACTORS DELAYING RELOCATION ….………………………….

 

………………………………………….………………………………………………………..

 

WHERE WE’D LIKE TO BE –

– TYPE OF HOME     – (attach NEW HOME CHECKLIST*)

 

– LOCATION (or options)  …………………………………………………

 

□ APPROXIMATE BUDGET FOR NEW HOME  $…………..

[likely largely dependant on current values less amounts owing]

 

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NEW HOME CHECKLIST                  DATE:  ……………………

 

□ PROCEEDS (NET) FROM OUR PRESENT HOME …..……… *

 

□ MAXIMUM PRICE $……………….

 

□ ACCEPTABLE MORTGAGE $………………. or  0

 

□ SIZE OF HOME …………… SQ FT                    (what size do we need?)

 

□ NUMBER OF BEDROOMS ……………………..

 

□ NUMBER OF BATHROOMS:  (FULL)……….. (HALF)…………

 

□ DEN/ FAMILY ROOM

 

□ AGE RANGE  …………

 

□ STYLE …………………    TYPE: (DETACHED) (ATTACHED) (APARTMENT)

 

□ HEATING ………….       FIREPLACES (#………) –  FUEL …………

 

□ FEATURES  [MUST HAVE] ……………………………………………………

 

………………………………………………………………………

 

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– **

[WOULD BE NICE] ……………………………………………….

 

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**

□ CLOSE TO ………………………………………………………………………

 

□ WALKING DISTANCE TO ……………………………………………………

 

□ MOVE IN BY  ………………………………………(MOVING CHECK LIST*)

 

□ ………………………………………………………………..

 

 

* call Alan Skinner 604-626-2526 [alanskinner@shaw.ca] for a current market evaluation at any time.                  ** Attach lists for more specific requirements

 

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ACTION PLANS FOR ………………………………..    DATE: ……………….

 

IN NEW HOME BY……………………….. (a date range is more realistic for many)

 

□ PRESENT HOME READY FOR SALE?

MUST DO’s  – attach list

COULD DO’s – attach list

Note: once completed – estimate cost; consult with your Realtor for opinion on necessity of improvement/payback on improvement. Set time line.

 

□ SIZE OF PRESENT HOME …………… SQ FT / NEW HOME………….. SQ FT

 

□ DECIDE ON ITEMS TO KEEP (“mental furnishing”) – attach list

 

□ LIST OF ITEMS THAT WILL NEED TO BE ACQUIRED

– by Move-In date

– subsequent to Move-In date

 

□ LIST MAJOR ITEMS TO DISPOSE OF

– SALE LIST – attach

– GIFT TO OTHERS – attach

– CHARITY

– JUNK

 

□ START SEARCH WITH “GENERAL” BUDGET OF $…………………….. IN MIND

 

 

RESOURCES FOR INPUT IN THE ACTION PLANS

 

e.g: Realtor, Banker/Mortgage Broker, Trades (painter/contractor/roofer/handyman etc), auctioneer, antique dealer, family, investment adviser, interior designer and many others

 

Alan Skinner  – Re/Max 604-626-2526 or alanskinner@shaw.ca.…………..

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NOTE: Each list being created is in essence an action plan