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Home Maintenance and Tips for Home Owners

Tag: REALTOR

Real Estate Market in Innisfil

Real Estate

Real Estate Market in Innisfil.  Today’s market for buying and selling homes if very competitive and you will want to ensure you have picked the best possible real estate agent to represent you. Here are some tips we have gleaned from some professionals.

Does your professional Realtor provide a staging service for his or her listings, many do in this competitive market. What information did your agent bring to your home prior to listing? How many agents are in his office, how many listings does he currently have? There are many people who are doing “on the job training” make your agent isn’t one of them.

How is your Realtor intending to market your home. What type of ads and how many open houses will they be having. It is always better to have an understanding on how the process will take place prior to listing, then there is no confusion.

When listing your home ensure you are using the current market conditions and not a two year old appraisal that does not reflect the current market prices. Mortgages rates are low and vacancy rates are declining which is good news for investors and sellers of properties.

Many people try and save money by utilizing the same Realtor and will even use a Home Inspector recommended by the Realtor. This saving can have dire consequences when you don’t have someone whose only duty is too look after your interests. Pay for the services of a professional and they will ensure your interests come first and foremost.

When buying a “used” home or property it is very important to ensure all work was done by qualified trades persons and all permits were taken out. Patio’s and decks are often erected illegally without using the proper building techniques or materials. You could end up paying to remove structure and erecting a new one if your local building authority inspects your property.

Your Local Angus Real Estate Agents

Real Estate

Your Local Angus Real Estate Agents.   People who own property are typically 26% wealthier than non-home owners.  When house values increase the home owner benefits even though they may only have a small equity position in the home.  Just imagine if you owned a $150,000 house with 5% down ($7500) and house values increased by just 3%. In one year you would have had an increase in equity of over $5,000

Many people who have been turned down by traditional mortgage lenders are turning to the Rent to Own method of home buying.  For many, the rent-to-own home may be the best option. Also called a lease-to-own house, the process works similarly to a car lease : Renters pay a certain amount each month to live in the house, and at the end of a set period — generally within three years — they have the option to buy the house. Each month of rent they pay is income for the seller, while a portion of it goes toward a down payment to eventually buy the home.

In many Rent to Own agreements the renters also have to pay an option fee and then a rent premium. The option fee is a set amount that the renter pays the seller. If, at the end of the lease period, the renter buys the house, the option fee becomes part of the down payment. If the renter doesn’t buy the house, the option fee becomes income for the seller. Rent premiums are an amount slightly above the typical rent, with a portion of that money going toward a down payment.

The finances of the Rent to Own property are usually based this example situation.  The average house is worth $300,000, and typical rent would be $1,500 a month. Someone who’s renting to own might pay $1,700 a month in rent and then receive a $200 rent credit each month. Add the option fee, in this case $5,000. On a three-year lease, the renter would earn $7,200 in rent credits. Adding the earned rental credits to the option fee, the renter has accumulated $12,200 for a down payment.

Rent to Own properties will require a deposit, the same as if you were buying your own home.  Most companies will require a minimum of $15,000 as a deposit.  The monthly payment for a rent-to-own agreement will depend on your budget.  The larger your payments, and the longer you make them for, the larger the accumulated downpayment will be when you exercise your purchase option and get a mortgage in your own name.

At the end of your rent-to-own agreement, the sum of your initial deposit and your monthly payments will count as a downpayment for your own mortgage.  To know exactly how much of a downpayment you will

Angus Real Real Estate Agent

need to consult with a mortgage broker to discuss getting the best possible rate.
Your local Angus Real Estate agent can help you find a property that will fit your budget.  Choosing a Professional agent with local knowledge and experience will greatly enhance your real estate shopping experience.  Choose from our Best Angus Real Estate Agents to ensure your receive the best possible advice when making your next property investment.

Upgrades to REALTOR.ca

Real Estate

Ottawa, ON – December 1, 2011 – Earlier this week, a new version of REALTOR.ca was released. This version introduces exciting new features and tools that allow users to customize REALTOR.ca to find what they’re looking faster and easier.

Collapsible panels on the map search page for customized views (Red arrow #1)

  • The map search page is currently divided into three panels with the search criteria on the left, the interactive map in the middle and the property thumbnail list on the right.
  • Users can now collapse either the criteria panel or the thumbnail panel to have a larger image of the map, allowing much greater flexibility in customizing their view of REALTOR.ca

Draw an area – Custom map search tool (Polygon Map Tool – BETA format) (Red arrow #2)

  • Using their mouse, users can now draw free form shapes on the map to more accurately define the location criteria for their search.
  • Users will be able to map a specific neighbourhood or region and use that as their location criteria to find properties that are located within the defined area.
  • The map tool is being released in BETA format as we continue to fine-tune its capabilities.
  • Please note – we are continuing to improve functionality and enhancing the user experience.

Auto-sizing to fit high resolution (HD) monitors

  • Currently REALTOR.ca’s display area is a fixed size on every monitor. The new version will automatically re-size itself to eliminate the white space now seen on high resolution (HD) monitors.

Social media links

  • REALTORS® and Offices now have the ability to display links to their Facebook, Twitter and LinkedIn pages.

Real Estate in Orillia

Personal Interest, Real Estate

Real Estate in Orillia. In Canada and the US,  real estate broker, real estate agent or realtor is a party who acts as an intermediary between sellers and buyers of real estate and endeavors to find property sellers who wish to sell and buyers who wish to buy. In the Canada, the relationship was originally established by reference to the English common law of agency, with the broker having a fiduciary relationship with his clients.

The Real Estate market has broadened widely with the advent of new technology. Globalization has had an immediate and powerful impact on real estate markets, making them an international working place. The rapid growth of the Internet has made the international market accessible to millions of consumers. A look at recent changes in homeownership rates illustrates this. Minority homeownership jumped by 4.4 million during the 1990s, reaching 12.5 million in 2000, according to the Fannie Mae Foundation. Foreign direct investment in U.S. real estate has increased sharply from $38 billion in 1997 more than $50 billion in 2002 according to U.S. 2000 Census data.

In consideration of the brokerage successfully finding a satisfactory buyer for the property, a broker anticipates receiving a commission for the services the brokerage has provided. Usually, the payment of a commission to the brokerage is contingent upon finding a satisfactory buyer for the real estate for sale, the successful negotiation of a purchase contract between a satisfactory buyer and seller, or the settlement of the transaction and the exchange of money between buyer and seller.

The median real estate commission charged to the seller by the listing (seller’s) agent is 6% of the purchase price. Typically, this commission is split evenly between the seller’s and buyer’s agents, with the buyer’s agent generally receiving a commission of 3% of the purchase price of the home sold.
In North America commissions on real estate transactions are negotiable. Local real estate sales activity usually dictates the amount of commission agreed to. Real estate commission is typically paid by the seller at the closing of the transaction as detailed in the listing agreement.

Flat Fee MLS generally refers to the practice in the real estate industry of a seller entering into an ” la carte service agreement” with a real estate broker who accepts a flat fee rather than a percentage of the sale price for the listing side of the transaction. The buyer’s broker is still typically offered a percentage though that could be a flat fee as well. A Flat Fee MLS brokerage typically unbundles the services a traditional real estate brokerage offers and lists the property for sale in the local Multiple Listing Service (MLS)  la carte without requiring the seller to use its services for valuation assistance, negotiating, transaction management and showing accompaniment.

 

Title Insurance has become a product that has changed the way property is transferred in Canada.  Title is at the very heart of every real estate transaction. A purchaser needs proof that the property being bought is free and clear of liens, that the seller really owns it, and can sell it. To do this the buyer must “search title”. This can be a long, complicated process. Lawyers (or their assistants) sometimes spend hours at the registry office going through books and then checking with various authorities for liens etc. Often, they have to search back 40 years before they can give their “opinion of title”, which is still not a guarantee – just an opinion.

 

Home inspection in Canada requires the services of a qualified and experienced professional. When selecting a Canadian home inspector cost should not be the only determining factor. It is vital that you know as much about a property as possible before you make the commitment to purchase it, so be sure to choose a home inspector that can perform a reliable inspection service.  I would always recommend using the home inspector who places first in Google rankings for the area you are looking to purchase.  Being first in Google is a good indication that he is a professional and will be the “go to person” in that area.

 

When buying property in the Innisfil Ontario area choose your agent from the www.innisfilrealestateagents.info site to get a professional agent who will provide you with personalized service and ensure your buying or selling experience is a pleasant experience with no surprises.

Resale housing forecast revised

Real Estate

Resale housing forecast revised.   OTTAWA – July 30, 2010 – The Canadian Real Estate Association (CREA) revised its forecast downward for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations, and elevated its average price forecast.

Weaker than anticipated sales activity during the crucial spring home buying season in Canada’s four most active provincial markets prompted the revision. The decline is consistent with the exhaustion of pent-up demand from deferred purchases during the economic recession, and sales having been pulled forward into early 2010 due to changes in mortgage regulations.

National sales activity is forecast to reach 459,600 units in 2010, representing an annual decline of 1.2 per cent. Additional expected interest rate increases will keep homebuyers in a cautious mood, with sales activity expected to continue easing over the second half of the year as a result. In 2011, weaker economic growth and consumer spending will contribute to a decline in national sales activity of 7.3 per cent, with annual sales totaling 426,100 units.

“The Bank of Canada recognizes that inflation remains well contained and that economic growth will soften, so interest rates will rise slowly and at a measured pace, which will keep home financing within reach for many homebuyers,” said Georges Pahud, CREA President.  “While the jump in national sales activity earlier this year likely borrowed from the future, local markets trends are not necessarily in sync with national trends, so buyers and sellers would do well to consult with their local REALTOR® to best understand the outlook in their market.”

Average price trends have remained stable as new listings began to shrink in the last two months of the second quarter. Supply is expected to continue to adjust to lower demand, keeping the resale housing market balanced on a national basis and in most provinces.

The national average home price is forecast to rise 3.5 per cent in 2010 to $331,600, with increases in all provinces.

“Slowing first-time home buying activity means lower- and mid-priced homes are making a smaller contribution to the average price calculation, causing the average price to be skewed upward as a result,” said Gregory Klump, CREA Chief Economist. “It also means pricing momentum will lose steam due to rising competition among current homeowners looking to trade up.”

Although modest average price gains are forecast in 2011 in most provinces, the national average price is forecast to ease by 0.9 per cent to $328,600.

“The hangover from accelerated home purchases earlier this year is expected to persist over the rest of the year, but positive economic and job market trends bode well for home price stability,” said Klump. “Sales activity and new supply are both expected to continue to ease, so inventories are unlikely to pile up the way they did during the recession.

“Transitory factors that resulted in big swings in housing supply and demand may now be largely in the rearview mirror, so while resale housing activity is expected to ease, the pace of declines should begin to slow,” he added. “Homebuyers will no doubt welcome a more relaxed housing market in places where there was a shortage of supply earlier in the year.“

http://www.crea.ca/public/news_stats/pdfs/media_july30rpt_en.pdf

CREA LAUNCHES NEW FALL ADVERTISING CAMPAIGN

Real Estate

CREA LAUNCHES NEW FALL ADVERTISING CAMPAIGN.  OTTAWA (August 23, 2010) – The Canadian Real Estate Association (CREA) debuts a new national television commercial today featuring production and editing techniques developed specifically for this project and never before used in Canadian television advertising.

Shot in HD, the new commercial is called “Faces”, and it highlights the value REALTORS® bring to one of life’s biggest financial decisions – home buying and selling.

“REALTORS® help meet the unique needs of people who are buying or selling their home,” says CREA President Georges Pahud. “Just as peoples’ requirements are diverse, so too is the knowledge, expertise and services of the REALTOR® working to meet them. Whatever your needs, a REALTOR® can help.”

In the 30 second ad, viewers see and hear testimonials from several individuals about their experience with their REALTOR®. Women and men representing people from all walks of life talk about their unique needs when buying and selling a home. While they talk, their faces continually change, eventually becoming another person with another positive story. The commercial was created for CREA by Toronto ad agency CP+B Canada and uses special effects to bring traditional portraiture to life. The end result is a memorable and visually arresting spot for the digital age.

The television commercial is part of CREA’s 2010 fall advertising campaign, which runs from August 23rd through the week of October 18th.

CREA’s national ad campaign program started in 2006 and runs twice a year, in the spring and fall. Last fall’s ad, entitled “Never-ending Negotiations”, won a bronze award at this year’s national Marketing Awards.

To view CREA’s latest television commercial, please visit howrealtorshelp.ca.

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