There has been a lot of advances in technology this year, and one of the areas is virtual staging. It has come down so much that some agents are looking at this as viable alternative to staging, rather than have the place look empty on photos and videos. In my...read more
Buying a house in a tough market like Toronto can be very emotional draining. There are many obstacles to overcome such as bidding wars, no inspection clauses, no finance clauses, and being unsure of so many factors.
In a crazy market, it is best to find your house first then sell after. The reason being that you will not be forced to buy something you don’t like if your time runs out on the selling end.
I have witnessed many buyers go through what I call the Buyers Blues through my travels, and in many cases there are a few steps to avoid this from the beginning. Here is my list of things to do:
1. DO NOT FALL IN LOVE with the house you see. When you are looking for a house, always keep in mind the house is not yours until you get the keys. Even if you have a firm deal in place there are many things that must happen before you are actually living there.
2. Be Realistic: Do not look at houses that are under priced and out of your price range. Examine your budget and what you can afford before going out and searching for houses
3. Get Pre-Approved: Make sure you are pre-approved and can possibly get your offer approved with an under writer before sending it off. This will ensure you can submit an offer without your finance clause.
4. Get a Walk-through home inspection: I have a home inspector that will give a walk through home inspection without all the bells and whistles. Basically just making sure the key points of the house are in dis-array. This will help you remove the inspection clause that will lose you the house.
5. Go by Comparables, not listing price: Never ever look at the listing price and say you can afford that. You need to look at the comparables, and go by the last sale. Even then add some money. To win a bidding war you must be aggressive and sometimes go beyond the comparable just to get the other bids out.
6. There are more houses out there: Yes you might have lost out on a house, but be sure that there are other houses out there. It is devastation sometimes that you lose a house, but be assured there are more out there.
As you can see there are a few things to do while trying to buy a house, there are many mistakes you can make and many ways to put stress on your life. Try to follow these steps and get into something new.
READ RECENT BLOG & ARTICLE POSTS BELOW
The prices of sales in the GTA have come down 30% from last year. Let's put this stat into perspective. The prices from January to April sky rocketed and then came down after that. Of course they are going to be a lot lower since the prices jumped so much. The media...read more
The Liberal Government both at the Federal and provincial level as well as Mayor of Toronto seem hell bent on bringing down the prices of real estate to make it affordable for everybody. In some imaginary world this is going to stick. The problem is with their plan is...read more
I read the articles, I read the comments, people want information. They want it all. That is the new way of doing business. They want all of the information that real estate agents have access to, and they want it for free, and they want it now. People think they have...read more
I've had enough of these builders and you should really beware before buying a new build. Over the past 10 years I've been selling Real Estate, I've had one bad situation over another with my clients. The past two years, I've reached my limit and I'm here to say don't...read more
The purchase price of your home is only one of the costs you'll encounter. Here are other possible costs you need to consider: Mortgage loan insurance: If you are putting less than 20 per cent of the house value down, you're going to need mortgage loan insurance....read more
When I do an open house or put a house up for sale, I always get a few questions about features that I always say, why do you want that. Here they are: 1. Central Vacuum: Why do you want to lug around a snake and try to clean the house? Its simple, its called Dyson....read more
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
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
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
The liberal government has announced that they will be doing something to calm the renting hikes from landlords. While this is a good thing for renters, it could be a detriment to housing and landlords going forward. Some landlords have already become proactive and...read more
While the Ontario Government cut this John Tory's dream of having a great highway into Toronto short, I believe he was on the right path to increasing the value of Real Estate. When I heard they were going to add some sort of toll to cars going into the city, I was...read more
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
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
Right now marijuana, and grow ups are a fairly minimal concern when buying houses. Agents typically put a clause that the owner never grew or has known about any grow ops in the house, but this is about to change next year. What is changing is that July 1st, 2018,...read more