The Patz McMillan Team

  The early arrival of Daylight Savings Time (DST) serves as an excellent reminder of two basic elements of home equity management: annual scheduled maintenance and response to change.

Real estate values are preserved by strong maintenance programs.

Just as the biannual shifts associated with DST mark the passage of seasons, there are many annual property management tasks that must be attended to as the seasons progress. Some essential activities like replacing smoke and carbon monoxide alarm batteries may be coupled with clock-changing rituals to ensure maintenance of these vital alarms is not overlooked.

This year, the DST deadline was moved ahead to March 11 in an international energy-saving initiative. This change necessitated obtaining an appropriate download to ensure computers, home security networks and other computerized systems, and the timed activities they manage, are kept in sync. Home maintenance has now expanded to include the continual and regular up-dating and up-grading of computer anti-virus systems and software.

Extended daylight hours also make it easier to inspect perimeter fencing and the exterior of houses and out buildings:

• Is there visible damage to fences, gates, chimneys, eavestroughs, downspouts, stairways, porches, walkways, pools or other structures?
• Is there evidence of torn or damaged shingles that may indicate the need for roof repair or replacement? Don't wait for interior water damage before you have a professional roofer inspect your property.
• Take note of the location and source of any pools of water that have collected near the house since they could lead to interior or foundation water damage.
• Inspect large shrubs and trees for broken branches that need attention before they bring down wires or cause injury.
• Tackle small repairs immediately to avoid more costly overhauls.
• Pre-season servicing of equipment may include savings through promotional and special sale offerings.
• While winter is fresh in your mind, examine existing snow-removal equipment. Take advantage of end-of-winter sales to stock up for the inevitable return of snow and cold weather.
• Re-consider the location of garbage disposal containers and composters if you could not conveniently and safely reach them after a snow fall.

This is also an excellent time to re-evaluate the investment aspects of your home, cottage and other real estate, that is, to determine how successfully you've increased the accumulated value or home equity. Markets respond to local factors, so contact experienced real estate professionals to examine market options, which may include the following:

• Since neighbourhoods respond differently in different real estate markets, you may find that your location is appreciating while typically higher-priced areas are static or decreasing in value. This pattern may make moving up a smart home equity management strategy.
• Homes on busy streets and other harder-to-sell or unfavourable locations may bring top dollar in vibrant markets.
• Shifting fashions in interior decorating and design, make it important to assess current trends before proceeding with expensive renovations. Select tasteful, timeless styles and space-maximizing design to weather annual "what's in" manias that now hit housing as well as fashion.
• If buying a cottage or vacation property is your goal this year, why wait? Visit prospective locations for a good look around before leaves are on the trees. Areas with flooding problems will be evident and you may discover a few hidden gems in the process.
• Parents with children who'll head off to university this fall, may want to investigate end-of-term housing options now. Knowledgeable real estate professionals can offer information on local rental patterns and on important considerations regarding income properties.

Real estate forecasts from the federal housing agency, Canada Mortgage and Housing Corporation and other sources of relevant statistics project active markets in 2007 since low interest rates and "healthy consumer confidence" continue. How will you take advantage of these opportunities and improve your real estate net worth?


Written by PJ Wade

The Patz McMillan Team E-mail: patzmcmillan@remax.net Web: http://www.patzmcmillan.com 604-727-8227

RE/MAX Crest Realty (Westside) 604-684-6155 #2 - 1012 Beach Ave. Vancouver BC V6E 1T7