Now Is The Best Time To Sell Your House

Now Is The Best Time To Sell Your House

Everybody tell you that you shouldn’t sell your house in the winter. This is not true. Forget what people are telling you and most agents and people have it wrong. It is true that snow discourages people from buying a house, but if you look at the market right now you will see that there is a real drop in listings.

The truth is that snow storms are a big discouragement to selling your house but snow is not bad all together. An example of that is last year where we in Toronto had snow storm after snow storm. While the storms are bad for business, just regular snow falls are ok. Last year Toronto was hit over and over, and the market suffered, but the year before that, it was just regular snow falls and the market was as hot as ever. Even last year, once the storms stopped, and regular snow falls came down, the market got hot in early spring when it did still snow.

Its all about inventory! There is none and there will alway be people that must buy or sell in the winter regardless. This creates an atmosphere, for you to cash in on your property, and hopefully have a few bids on your house.

The finance minister of Canada has stated that the interest rates have stayed steady at the same rate this week. This is great, and most analysts predict that this will not go up as well.

Investment in Canada. The low dollar is seeing a lot of investment in Canada’s real estate market, not only from the Chinese and Asian countries, but our neighbour to the south, the US. Where once Canadians were buying houses in the US, now they are scooping up properties everywhere in Canada.

Real Estate is all about timing, finding the right buyer desperate to find a house will drive up the bids for your house and the dollars in your pocket.

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One thing that can truly help lower GTA prices are some major transit solutions. It is apparent that the GTA market and all of the surrounding areas have gone buck wild in the past few years, and especially in the last few months. So many sales records have been...

read more

Why You Should be Underpricing Your House For Sale?

Its all about quantity and impression.When people are buying a house, they get into some-what of a HEAT! Underpricing Your House drives that heath up. I would call it a hunter gatherer mind set. Buyers are constantly on the hunt, and one thing that I've noticed is...

read more

Would You Go Into a Court Without a Lawyer?

Buying a house and using the listing agent is like going into court without a lawyer to represent you. Each and every time I have a listing, I have somebody calling me asking me "what's the price if I don't have an agent and buys directly though me?" I always want to...

read more

Liberals Are Going to Tank This Market!

What is the one thing the liberals are looking for right now? Votes and money. The way that they will try to get both is to try and capitalize on this hot real estate market.    The middle & lower class does not like the fact that they cannot afford any real...

read more

Tesla’s Solar Roof Powered Shingles

Solar roof panels are the ugliest feature to attach to your house. I tried to sell a house once with solar panels and nobody wanted to even think about it. The panels were bulky and ugly, and the technology to save the power to batteries was messy and confusing. ...

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The Risk of Waiving a Home Inspection

If you put an offer on a house that goes into multiple offers, chances are you must waive two conditions: home inspection, and financing. We will deal with financing next week, but for now lets talk about the home inspection clause. In the 80's there was no such thing...

read more

The Banks Are To Blame For Our “Housing Bubble”

The banks are to Blame for Our Housing bubble. No Really, there is no one else to blame. You could throw the government in there too but mostly the banks. You can blame Realtors for driving up market price. You can blame Owners for jumping on the band wagon and...

read more

Is Real Estate Investing For You?

Is Real Estate Investing For You?

I have clients and friends who approach me regarding investing in Real Estate daily. There are many types of Real Estate Investing from REIT’s, commercial properties, industrial properties and of course basic residential properties. I am approached about residential properties the most.

For most people who are looking to invest, residential investment is an easy introductory. It’s very simple; you buy a property and rent it out. You collect your monthly rent and it usually pays the mortgage, bills, taxes and any improvements needed. In an ideal world this is how it works and eventually you pay off the mortgage and you have capital to invest in another property. After 10 or 15 years you can continue to flip houses because you have built up the funds to invest in more properties and so on. If you’re enthusiastic with your money you can pay off these investments faster and start to move on to much bigger projects. You can then start to invest in land, or houses which are ready to be torn down or renovated.
At this point you need to look for builders, contractors, and people who can build on the land or tear down a house and rebuild a house. After you start to see your houses built and sell for a profit after paying all of your expenses you can start to invest in apartments and condo buildings. You can also buy shares or find other investors. Since you have been investing in properties for the last ten years you will have a great relationship with mortgage brokers, banks, and private funds and also have some money saved to put into bigger projects.

These bigger projects involve commercial properties which could include strip malls, condo development or industrial properties. The other options include investing in a REIT’s.

Below is two paragraphs from an article from investopedia.com written by ANDREW BEATTIE in his article, “How to invest in Real Estate”. He explains REIT’s:

Real estate has been around since our cave-dwelling ancestors started chasing strangers out of their space, so it’s not surprising that Wall Street has found a way to turn real estate into a publicly-traded instrument. A real estate investment trust (REIT) is created when a corporation (or trust) uses investors’ money to purchase and operate income properties. REITs are bought and sold on the major exchanges just like any other stock. A corporation must pay out 90% of its taxable profits in the form of dividends to keep its status as an REIT. By doing this, REITs avoid paying corporate income tax, whereas a regular company would be taxed its profits and then have to decide whether or not to distribute its after-tax profits as dividends.

Much like regular dividend-paying stocks, REITs are a solid investment for stock market investors that want regular income. In comparison to the aforementioned types of real estate investment, REITs allow investors into non-residential investments (malls, office buildings, etc.) and are highly liquid.”
Here are a few simple laws for the amateur investor to follow:

Law #1:

Buy when the market is low and never sell. If you must sell then sell when the market is high. Have you noticed there are not too many commercial properties for sale?

Law #2:

Buy when the interest rates are low. You want to pay as low as possible to invest in this property.

Law#3:

Commercial Investing is better than residential. There are too many laws to protect residential renters. Whether or not this is a good or bad thing is up for debate. Not receiving a rent cheque for 6 months can mean foreclosure for a person investing on a tight budget. In the commercial property world if your tenant doesn’t pay you, you can lock the door after 16 days. Typically a commercial tenant will pay you because they know if they don’t pay you they are out.

Law #4:

Buy condos before they are being built. If you like the condo markets buy something that is not built yet. You will see a nice return the day you get your keys. The longer the close the better it is for you and your investment. While the property value goes up around the condo, you will reap the benefits of waiting on your investment to finish building. After a few years sell it. Start the cycle again. When the fees are getting too high you know it’s time to sell.

Law #5:

Do your homework: If you decide to sign a lease agreement with somebody, do background checks, credit reports, past landlords, bank statements, post dated cheques, and so on. Do as much research on your tenant as possible. Why did they leave their last place? The last thing you want to have is someone who is a tenant who just moves from house to house without paying any rent every three months.

Law #6:

Get advice: Get information from everybody you can think of about your investment. Whether or not you think you know what you’re doing, get a second opinion.  Speak to Real Estate agents, accountants, lawyers, property managers; take a course do what you have to do to educate yourself. The one thing I have realized in this world is that you never stop learning. You can know everything and not know anything. Somebody will educate you regarding your investment. It is not embarrassing to ask a few questions or make a few calls; it is worse to throw away your life savings or get involved in a lawsuit or have the municipality down your throat because you were too proud or lazy to ask some questions.

I hope these laws get you started and yes I know there are many other rules or laws to follow but these are just a few to get you thinking and started. Happy Hunting.

READ RECENT BLOG & ARTICLE POSTS BELOW

Uber is Not Like Real Estate!

I read articles all the time written by Real Estate agents who are trying to convince themselves that we are in a good business to be in, and that it is necessary to use an agent for every transaction. In Toronto, put up a sign and your property will be sold by the...

read more

Transit Solutions Would Help Lower GTA Prices

One thing that can truly help lower GTA prices are some major transit solutions. It is apparent that the GTA market and all of the surrounding areas have gone buck wild in the past few years, and especially in the last few months. So many sales records have been...

read more

Why You Should be Underpricing Your House For Sale?

Its all about quantity and impression.When people are buying a house, they get into some-what of a HEAT! Underpricing Your House drives that heath up. I would call it a hunter gatherer mind set. Buyers are constantly on the hunt, and one thing that I've noticed is...

read more

Would You Go Into a Court Without a Lawyer?

Buying a house and using the listing agent is like going into court without a lawyer to represent you. Each and every time I have a listing, I have somebody calling me asking me "what's the price if I don't have an agent and buys directly though me?" I always want to...

read more

Liberals Are Going to Tank This Market!

What is the one thing the liberals are looking for right now? Votes and money. The way that they will try to get both is to try and capitalize on this hot real estate market.    The middle & lower class does not like the fact that they cannot afford any real...

read more

Tesla’s Solar Roof Powered Shingles

Solar roof panels are the ugliest feature to attach to your house. I tried to sell a house once with solar panels and nobody wanted to even think about it. The panels were bulky and ugly, and the technology to save the power to batteries was messy and confusing. ...

read more

The Risk of Waiving a Home Inspection

If you put an offer on a house that goes into multiple offers, chances are you must waive two conditions: home inspection, and financing. We will deal with financing next week, but for now lets talk about the home inspection clause. In the 80's there was no such thing...

read more

The Banks Are To Blame For Our “Housing Bubble”

The banks are to Blame for Our Housing bubble. No Really, there is no one else to blame. You could throw the government in there too but mostly the banks. You can blame Realtors for driving up market price. You can blame Owners for jumping on the band wagon and...

read more

Keeping The Value of Your House

Keeping The Value of Your House

In my Real Estate adventures I have learned a few things: one thing that a lot of homeowners do not realize is that to keep the depreciation on your house at par, you must continually keep your house up to date and renovated. This is not a subjective, it is just the way things are because every house depreciates each year. The features of your house get older, the paint gets dull, styles change, the basement might get a small leak, the carpet gets dirty, the tiles scratch, the windows get stained from storms, the roof deteriorates and I could go on and on.

Home owners always think that their house is worth more than it is when they are selling. It is always a shock to see their faces when they get an evaluation of their house from a staging company, a decorator or appraiser to determine what is needed to bring the value on the house back up to speed. In some cases it could cost a lot of money to bring it up to par since no renovations have been done at all.

Here is a checklist of things to do each year to keep the value of your house.

 Paint:

This is the simplest thing to do. A fresh coat of paint can do wonders to your sluggish house. A word of advice; if you do a really bad job it can make your house look worse to buyers. Look for the newest in home decor to determine paint colours; see what’s the new colour that is in style this year.

 Floors:

If you have carpet when you bought the house, you could use an upgrade. Laminate is a cheap upgrade and can make a world of difference. I don’t know anybody that likes carpet. It gets dirty, it is not pet friendly and can make your house look very old and can smell. Look for the newest in floor design. If you decided to go the wood laminate route, make sure it is done properly.I see a lot of this type of floor coming up in spots. Make sure the floor is properly vented for a few weeks when installing the floor, the moisture can make this floor bubble or lift. 

If you are determined to keep the carpet in the house, get the carpet steamed cleaned. This will make it look somewhat new and take away the odor. It only costs a few hundred dollars to have a professional company come in to clean it.

 Yard:

Get your yard landscaped by a professional company. Avoid weird plants and trees that make your yard look old and cluttered. Try to stay away from big floral plants that make the yard and house look ugly. Keep it simple simple. Make sure that the yard is cut and that you do not have weeds. If the grass has really bad weeds, bring in new grass. It might cost a few dollars now but it can add more value to your house.Don’t get stuck with the previous owner’s weeds! A fresh start with a new yard is the best way to get your house to look its best.

 Clean your House:

I’m sure you do a good job at cleaning your house. What about the outside? Do you spray down the siding? Look for areas that you don’t normally clean. Did you clean your furnace vents recently? What about your washroom fan filters? When I go through a house with buyers you wouldn’t believe what I find behind the corners. Its not that owner are dirty, its just that usually when buyers are going through a house they look at areas that are not normally cleaned or visible. Open windows up, look behind the cracks, there is probably dust in there.

 Driveway:

Depending on what type of driveway you have you should use a sealer on it every year. A good sealer for your driveway will keep it looking new. If your driveway has  a lot of cracks in it your might want to think about a renovation project there. A new driveway is a nice thing to come home to.

 Lighting switches & Outlets:

Replacing lighting switches and outlets is a good way to keep your house looking great. Its a small thing but everybody looks at them. You could also include the vent covers here. A lot of hands touch these items and they are cheap to replace. Modern replacements is a good way to bring your house back to date.

 Refinish Kitchen Cabinets:

This is a great way to transform your kitchen. Instead of spending a lot of money to replace the cabinets, why not just refinish them. It is a lot cheaper and you can have it done a lot faster with less hassle of bringing in new cabinets for a fraction of the cost. You could also add refinishing counters here. Depending on your counters you can refinish or just replace the tops of your counters.

Well I hope this gives you some refreshing points in keeping the value of your home. For more tips send me an email or give me a calI!

READ RECENT BLOG & ARTICLE POSTS BELOW

Uber is Not Like Real Estate!

I read articles all the time written by Real Estate agents who are trying to convince themselves that we are in a good business to be in, and that it is necessary to use an agent for every transaction. In Toronto, put up a sign and your property will be sold by the...

read more

Transit Solutions Would Help Lower GTA Prices

One thing that can truly help lower GTA prices are some major transit solutions. It is apparent that the GTA market and all of the surrounding areas have gone buck wild in the past few years, and especially in the last few months. So many sales records have been...

read more

Why You Should be Underpricing Your House For Sale?

Its all about quantity and impression.When people are buying a house, they get into some-what of a HEAT! Underpricing Your House drives that heath up. I would call it a hunter gatherer mind set. Buyers are constantly on the hunt, and one thing that I've noticed is...

read more

Would You Go Into a Court Without a Lawyer?

Buying a house and using the listing agent is like going into court without a lawyer to represent you. Each and every time I have a listing, I have somebody calling me asking me "what's the price if I don't have an agent and buys directly though me?" I always want to...

read more

Liberals Are Going to Tank This Market!

What is the one thing the liberals are looking for right now? Votes and money. The way that they will try to get both is to try and capitalize on this hot real estate market.    The middle & lower class does not like the fact that they cannot afford any real...

read more

Tesla’s Solar Roof Powered Shingles

Solar roof panels are the ugliest feature to attach to your house. I tried to sell a house once with solar panels and nobody wanted to even think about it. The panels were bulky and ugly, and the technology to save the power to batteries was messy and confusing. ...

read more

360 Degree Video Will Change Video Tours

360 Degree Video Will Change Video Tours

The biggest thing which I believe will hit the Real Estate market in the next couple of years is 360 degree video. Youtube is already hosting videos and a bunch of cameras came out at CES conference and some are already on the market. Basically this is an extension of 3D camera’s but it can be manipulated.

Imagine you are selling your house, and your video tour is going through the house, but you can turn the camera in any direction while the video plays.

This will be a great tool in the future, because it is not just a still picture, you can make a video and still have the 3D effect and use your browser or phone and move around.

To See what this technology is all about, go to youtube and type in 360 degree video. FYI Safari browser does not work. Use Chrome or your mobile device

READ RECENT BLOG & ARTICLE POSTS BELOW

Uber is Not Like Real Estate!

I read articles all the time written by Real Estate agents who are trying to convince themselves that we are in a good business to be in, and that it is necessary to use an agent for every transaction. In Toronto, put up a sign and your property will be sold by the...

read more

Transit Solutions Would Help Lower GTA Prices

One thing that can truly help lower GTA prices are some major transit solutions. It is apparent that the GTA market and all of the surrounding areas have gone buck wild in the past few years, and especially in the last few months. So many sales records have been...

read more

Why You Should be Underpricing Your House For Sale?

Its all about quantity and impression.When people are buying a house, they get into some-what of a HEAT! Underpricing Your House drives that heath up. I would call it a hunter gatherer mind set. Buyers are constantly on the hunt, and one thing that I've noticed is...

read more

Would You Go Into a Court Without a Lawyer?

Buying a house and using the listing agent is like going into court without a lawyer to represent you. Each and every time I have a listing, I have somebody calling me asking me "what's the price if I don't have an agent and buys directly though me?" I always want to...

read more

Liberals Are Going to Tank This Market!

What is the one thing the liberals are looking for right now? Votes and money. The way that they will try to get both is to try and capitalize on this hot real estate market.    The middle & lower class does not like the fact that they cannot afford any real...

read more

Tesla’s Solar Roof Powered Shingles

Solar roof panels are the ugliest feature to attach to your house. I tried to sell a house once with solar panels and nobody wanted to even think about it. The panels were bulky and ugly, and the technology to save the power to batteries was messy and confusing. ...

read more

The Risk of Waiving a Home Inspection

If you put an offer on a house that goes into multiple offers, chances are you must waive two conditions: home inspection, and financing. We will deal with financing next week, but for now lets talk about the home inspection clause. In the 80's there was no such thing...

read more

The Banks Are To Blame For Our “Housing Bubble”

The banks are to Blame for Our Housing bubble. No Really, there is no one else to blame. You could throw the government in there too but mostly the banks. You can blame Realtors for driving up market price. You can blame Owners for jumping on the band wagon and...

read more

Real Estate Prices are not going Down

Real Estate Prices are not going Down

While the interest rates may have gone up a bit yesterday, I believe that the Real Estate prices in Toronto, and GTA are not going down at all. There is a lot going against the market, new regulations, interest rates, unemployment, and our dollar.

There are many things going against our market, but there are a few driving factors which will keep the bidding wars coming:

1. Low Dollar:

Did you know that in China, they cannot own property? What this means is that people there have money to invest and cannot invest it in their own country. They come here because of our low dollar. This is what is driving prices up in many markets in Canada. Our Real Estate prices are cheap compared to many around the world. New Yorkers laugh at our dollar per square footage. Now that the dollar is lower than .70 usd, Americans will also be looking to the north for investment.

2. Interest Rates:

While this is on the bad list, these rates are a joke compared to years ago when rates were at 5% 8% 20% It is cheap to own a home in Canada. In many cases its easier to get a mortgage than get a lease. You don’t pay the mortgage, they take away the house.

3. Speculators:

I have many clients waiting to pounce on a lower market. Let’s say the market takes a dip for a few months, and it might, then I know I have a lot of clients waiting to take advantage of that lower priced property. People are waiting for a lower market to go in. This will drive the prices up again.

I think these three factors are the most important things to consider when you panic over a quarter percent interest rate increase. Don’t hold your breath when the pundits are saying that the market is going to crash, in my world its going higher by the minute.

READ RECENT BLOG & ARTICLE POSTS BELOW

Uber is Not Like Real Estate!

I read articles all the time written by Real Estate agents who are trying to convince themselves that we are in a good business to be in, and that it is necessary to use an agent for every transaction. In Toronto, put up a sign and your property will be sold by the...

read more

Transit Solutions Would Help Lower GTA Prices

One thing that can truly help lower GTA prices are some major transit solutions. It is apparent that the GTA market and all of the surrounding areas have gone buck wild in the past few years, and especially in the last few months. So many sales records have been...

read more

Why You Should be Underpricing Your House For Sale?

Its all about quantity and impression.When people are buying a house, they get into some-what of a HEAT! Underpricing Your House drives that heath up. I would call it a hunter gatherer mind set. Buyers are constantly on the hunt, and one thing that I've noticed is...

read more

Would You Go Into a Court Without a Lawyer?

Buying a house and using the listing agent is like going into court without a lawyer to represent you. Each and every time I have a listing, I have somebody calling me asking me "what's the price if I don't have an agent and buys directly though me?" I always want to...

read more

Liberals Are Going to Tank This Market!

What is the one thing the liberals are looking for right now? Votes and money. The way that they will try to get both is to try and capitalize on this hot real estate market.    The middle & lower class does not like the fact that they cannot afford any real...

read more

Tesla’s Solar Roof Powered Shingles

Solar roof panels are the ugliest feature to attach to your house. I tried to sell a house once with solar panels and nobody wanted to even think about it. The panels were bulky and ugly, and the technology to save the power to batteries was messy and confusing. ...

read more

The Risk of Waiving a Home Inspection

If you put an offer on a house that goes into multiple offers, chances are you must waive two conditions: home inspection, and financing. We will deal with financing next week, but for now lets talk about the home inspection clause. In the 80's there was no such thing...

read more

The Banks Are To Blame For Our “Housing Bubble”

The banks are to Blame for Our Housing bubble. No Really, there is no one else to blame. You could throw the government in there too but mostly the banks. You can blame Realtors for driving up market price. You can blame Owners for jumping on the band wagon and...

read more

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