The presence of mould in a home is alarming, especially since there are more than 100,000 species, including dry rot fungus.[1] Extensive mould growth can cause major health problems such as headaches, shortness of breath, and asthma symptoms.[2] Here are some tips for recognizing and eliminating mould while maintaining the air quality in your home.

Finding mould on walls

To grow, mould needs water and nutrients such as wood, gypsum, and dust.[3] It can also grow inside ventilation ducts, walls, and ceilings, where it can’t be seen. It usually appears due to high humidity levels or condensation caused by broken plumbing, water infiltration, or lack of ventilation.

Check out:[4]

• Black or green spots on walls and ceilings, around windows, or in closets
• Stains, buckling, or peeling on walls and ceilings
• An earthy or mouldy smell

It is not usually necessary to test surfaces or air quality for the presence of mould. Inspecting the roof, attic, siding, and joint seals is often the best way to find the cause and fix it.

Decontaminating your home

Affected surfaces should be wiped down with a clean cloth and all-purpose cleaner right away. Avoid chlorinated agents such as bleach.Dispose of deteriorated or porous materials in airtight bags or containers.

Properly ventilate the room and ask other occupants to stay away. If necessary, isolate the contaminated area with plastic sheeting.[5] To prevent contact with mould, wear rubber gloves, goggles, and a dust mask.

If the contaminated surfaces are bigger than one square metre, difficult to wash, or the mould comes back after cleaning, contact a company that specializes in mould decontamination.[6]

Preventing mould

A few simple steps can prevent mould from growing in your home:[7]

1. If there has been water damage, completely dry the area and discard used and porous materials within 24-48 hours.
2. Avoid high levels of humidity by monitoring window condensation.
3. Keep the house well ventilated by opening windows or turning on the air exchanger.

Anti-mould paint can also be helpful, especially in high-risk environments such as the bathroom.

Not sure if you’ve properly decontaminated your home? Bring in an expert to fix the problem. This will also ensure that the value of your home isn’t compromised.

Source: Centris

You want to sell your house but have no idea of how much to ask. Assessing the market value of your home can be difficult, especially if you are not sure on how to go about it.

An inaccurate estimate of your property’s value can have negative consequences

• If you ask too much, you will probably have to either revise your price down or wait some time before finding a buyer.
• If the asking price is too low, you will literally lose money on the sale!

To obtain a proper estimate, it is advisable to call on the services of a chartered appraiser or, better yet, a real estate broker.

Not only do brokers have an in-depth knowledge of the market, they also carefully monitor changes in property values. They can also provide you with valuable advice on the work you can do to obtain the best price on the market. Even if you do use the services of a real estate expert, it helps to understand what criteria they use when making a valuation.

Here is an overview of the methods and factors that influence the market value of a home.

Comparable properties

All real estate brokers point out that it is essential to take comparable properties (sometimes known as “comps”) into account. What does that involve? This is done by checking the asking price of other properties similar to yours.

For instance, if you want to sell a duplex, your broker will research the recent selling prices of “comparable” duplexes. In other words, your property is compared to others with similar attributes. These criteria would include:

• Location, including the neighbourhood and available services
• Square footage and number of rooms
• Age and condition of the property
• Work done or required, etc.

Using this information, your real estate broker calculates a price or price range that corresponds to the market value of your house. In some cases, after examining all the comparable properties, the broker may advise you on renovations you could do that would increase the value of your property inexpensively.

How about municipal property assessments?

Every three years, your municipality reviews the value of your home to determine the amount of taxes you will have to pay. The value of the municipal property assessment is useful information when setting the selling price. However, it should not be used as your selling price since the actual market value may be very different from that assessed by the municipal appraiser.

In fact, a property can sell for below the municipal property assessment value or, as is usually the case, well above. As the last few years have shown us, market conditions can quickly change. Municipal property assessments simply cannot keep up with these rapid changes.

Replacement cost

Another method to estimate the property’s value is to add the value of the land to the replacement cost of the building. This complex calculation requires taking depreciation into account and requires the assistance of a chartered appraiser.

Determining the market value of an income property

If you want to sell a rental property (income property), the common method is to set the value according to the rental income.

There are various methods you can use to estimate the value based on income. However, it is strongly recommended that you use the expert services of a real estate broker when trying to determine the real market value of your rental property.

An essential first step

A fair market-true valuation is an essential prerequisite for getting the most out of your real estate investment. A property valued at a fair price in relation to the market is a property that gives buyers confidence and is easier to sell.

Source: Centris

QPAREB economists present their analysis of the first quarter of 2024 using Centris’ provincial database. Discover the real estate market statistics for the first quarter of 2024 concerning the median price across the province, the total number of transactions and the regions with the most significant variances.

Provincial median price by property type

• Single-family homes: Median price rises to $439,000, which represents an increase of 10 per cent compared to the equivalent period last year.
• Condominiums: median price rose by 5% to $365,000
• Small income properties: median price climbed to $520,000, a sharp increase of 15%

Median price by CMA for single-family homes

Montreal: $553,250  (+5 per cent)
Quebec City: $365,000 (+8 per cent)
Gatineau: $453,800 (+6 per cent)
Sherbrooke: $401,000  (+15 per cent)
Drummondville: $345,000 (+10 per cent)
Trois-Rivières: $337,650   (+21 per cent)
Saguenay: $280,000 (+10 per cent)

Sales

• Total of 21,337 residential sales in the first quarter of 2024.
• 17% increase in residential sales compared with the first quarter of 2023.
• The property category with the greatest increase in transactional activity was plexes, with +26 per cent, for a total number of transactions of 1,773. Single-family homes (13,832 sales) and condominiums (5,661 sales) follow, up by 16 per cent in both cases.
• Rawdon, +43 per cent, and Saint-Hyacinthe, +35 per cent, were the localities with the largest sales gains compared with the same quarter of 2023. Rivière-du-loup (-21 per cent) and Victoriaville (-19 per cent) suffered the biggest declines.

Selling Times

The average selling time for single-family homes in Quebec was 64 days in the 2024 first quarter, 3 days more when compared to the first quarter of 2023. Condominiums and small income properties followed at 62 days and 83 days, respectively. Both categories post the same selling times as the first quarter in 2023.

Market Conditions

Across the province, the number of months required to sell the inventory of residential properties on the market remains at a level that favours sellers, despite the increase compared to the same period last year. The number of months needed to sell the inventory has thus risen from 4.3 months to 5.1 months (all categories combined).

Buyers seem encouraged by the likely prospect of lower interest rates, and appear to be making a strong comeback in the property market. “This is the first quarter since 2021 to have posted a double-digit rise in sales, something we have not seen in the last ten quarters. This rebound in activity was observed in all CMAs across the province, with the exception of Gatineau and Trois-Rivières. These results, however, must be put into perspective: although the number of sales seems to indicate a recovery, which will have to be confirmed in the second quarter, it remains slightly below the historical average for this period of the year,” notes Charles Brant, QPAREB Market Analysis Director.

For more detailed statistics on each of Quebec’s regions, read the QPAREB Barometers and visit https://apciq.ca/en/real-estate-market/

Source: Centris