Smells in Your House can make or break a sale

Smells in Your House can make or break a sale

The first thing I notice when I walk into a house  is the smell, and it usually determines my attitude toward the home. If a homeowner has too many plug ins or artificial scents,  I go turn them off for a few minutes in order to smell what’s going on.
The basement is a key indicator of any mold, cracks, or water leaks. Sometimes you can smell these things when you open the door to the house, or are at the foot of basement stairs. If I can smell it from the front door, that is a bad sign you have some issues. You might also be able to smell gas, and fumes coming from the furnace. I walked into a showing one time, and the place smelled like gas. The owner really had no clue that the furnace was leaking some gas, very faint. One spark, and that house would have been lit up for us all.
Smells in the house can also determine how the owner takes care of the house. You can generally smell whether or not furniture, or closets are normally kept clean, or if they are just being quickly cleaned for a showing, and are trying to mask the true smell. You can smell if there are pets in the house, and whether or not those pets have damaged the floors by peeing on them. You can also smell if the owner has not cleaned up a mess properly, and is just using water and not disinfecting it properly.
Outside of the house, you can also use odor to detect how the owner takes care of the greens, plants and bush. The greens should smell fresh, like a golf club, not smell like a marsh, which has a dry dead smell.
The attic like the basement is generally where light bulbs go off when using your nose to detect mold, and water leaks. The smells are very clear, and you sometimes don’t even have to go in to smell the wood rotting.
When selling a house, make sure that you are cleaning the house properly, and fixing any issues that may arise during a home inspection. Don’t just try to mask the problem. You may have to use ozone, and get a professional to come in and remove bad smells.

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Price Drop 30% put into Perspective

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

Are You Ready For Your Information To Go Public?

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...

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ADDITIONAL COSTS WHEN BUYING A HOME

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read more

Over Rated Home Features

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....

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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...

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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 estate at...

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Virtual Staging

Virtual Staging

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 personal experience, I think that this is setting your potential buyer up for a disaster when they go visit the house. If they don’t visit the house and buy the property online line (ya right!) then it is a great way to showcase the house.

Here’s the thing, when they go to the house, and see empty rooms, they are going to be disappointed, it is deflating to expect to see a beautifully arranged house, then go and you look at empty rooms.

While some people might have an imagination, some and most people don’t. I learned this the hard way of being in this business for a while. You say “oh, its just a little clutter, image the house without all this garbage and plants everywhere”. That doesn’t work at all, or I would say, Imagine a chair here, and a chair there,” meanwhile there is a huge table thats in the way.

There are some special people out there, that can imagine what a house might look like when they get there, and they may also refer back to the photos with the virtual furniture, but lets face it, its a new gimmick that cheap agents and home sellers are going to start using because they don’t want to properly market their house.

The bottom line is, you want to sell your house and get the most for your home. Stage it, clean it, renovate it and stop being cheap with the agent and the stagers. Spend the money, and the money will come back that the house deserves.

READ RECENT BLOG & ARTICLE POSTS BELOW

Virtual Staging

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

Price Drop 30% put into Perspective

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

Are You Ready For Your Information To Go Public?

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

ADDITIONAL COSTS WHEN BUYING A HOME

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

Over Rated Home Features

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

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 estate at...

read more

Price Drop 30% put into Perspective

Price Drop 30% put into Perspective

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 make it seem like the prices are falling into the Grand Canyon. If this stat means anything is that the prices were so crazy last year and now they have stabilized.

While the prices of homes has dropped, there is a scarce amount of inventory right now. We are seeing some bidding wars in select neighbourhoods, and in others its business as usual with homes inspection clauses and finance clauses.

There is a lot of uncertainty right now. Certain buyers and sellers must continue on with their transactions and search. Here’s the thing, people get married, divorced, have kids, retire, pass away and everything else that goes on with life. There are people that can wait for a magic market, but in realty all those things above happen.

  What’s the Market like?

 I get this question a few times a day. Prices have dropped a bit but, in reality they are still high. They are not going to fall to the ground. If you look at the market of the past 30 years, it goes up and down, and then up again. So while this little dip is a fun little hill ride, I caution the people waiting to buy right now, this market is going to come roaring back up like a rollercoaster soon.

READ RECENT BLOG & ARTICLE POSTS BELOW

Virtual Staging

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

Price Drop 30% put into Perspective

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

Are You Ready For Your Information To Go Public?

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

ADDITIONAL COSTS WHEN BUYING A HOME

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

Over Rated Home Features

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

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 estate at...

read more

Will the Market Bounce Back This Year?

Will the Market Bounce Back This Year?

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 that there is simply too much demand and too many people who need housing here in Toronto. All the regulation and all of the taxing might scare people away for a while but in the long term prices will bounce back. Here are the reasons why the prices will not stay low too long.

1. Interest rates: The interest rates are simply too low. Unless the rates go up drastically, and I mean drastically, than the interest rates are low.
2. Demand: Too many people want to live in the city and the GTA. We live in one of the best cities in the world and people want to be as close to it as possible for so many different reasons.
3. Low Unemployment rate: The rate is relatively low in the GTA compared to other countries and provinces. There are many jobs and people who can afford to pay for houses.
4. High Immigration rate: There are a lot of people coming here for school, jobs and investment into the country. People want to live here.
5. Domestic & Foreign Investment: Despite the government trying to sway foreign and domestic investment with taxes, there is high investment from everybody in the GTA and outskirt cities. Even with the government wetting their beaks at every level of investment, there is still money to be made with regards to rental and tear downs and so on.
Even with the announcement of the interest rates going up, and will go up in a few months, this still will not shatter the market. As you can see, the market in Toronto and Vancouver is bouncing back, and with whatever scheme they come up with, it would be only a matter of time when prices bounce back and continue to sky rocket in these two markets. As for the rest of the country, the federal policies will hurt those already slow markets.

READ RECENT BLOG & ARTICLE POSTS BELOW

Virtual Staging

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

Price Drop 30% put into Perspective

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

Are You Ready For Your Information To Go Public?

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

ADDITIONAL COSTS WHEN BUYING A HOME

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

Over Rated Home Features

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

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 estate at...

read more

Are You Ready For Your Information To Go Public?

Are You Ready For Your Information To Go Public?

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 a right to it. I get it, but it doesn’t necessarily mean that it is right. The question is, do you want to have all of the information out there, while everybody else will have access to your information?

Recently The Toronto Real Estate Board lost an appeal to the competition board, which would allow real estate companies to post your information on websites. What information? All of it. Information regarding the sale of your house, how much you purchased it for, information about the history of your house sales, and information regarding how many purchases or investments you have.

Now many people will say that why is it fair that only real estate agents have access to this information? Well for one thing, we pay for it, but lets just say that the information is released as it is in the U.S., what would exactly happen? One thing that will happen right away is that corporate companies will be able to see what you own, and will be able to sell that information to get more information about you. The next thing that everybody will know is how much you sold or bought your house with. I’m not sure about you, but I don’t want my nosey boss telling me hey, “I saw you own two houses in Toronto and Mississauga” you’re not getting that raise!

Have you heard of Zillow Zestimates, its the worst thing to happen to Real Estate. Its where Zillow a huge corporation, tells people what your house is worth based on public sales information available. Zillow is constantly in court because their Zestimates has under valued a house, and houses sat on the market due to their value given, which doesn’t even know what upgrades or work has been done to the house.

Here is what is the official update regarding this case taken from TREB.

December 21, 2017 — The Federal Court of Appeal has today issued an Order directing a stay of the Competition Tribunal’s Order of June 3, 2016 pending the determination of TREB’s application for leave to appeal that order to the Supreme Court of Canada. Today’s order will ensure that the personal information of home buyers and sellers remains safe while the Supreme Court of Canada decides whether to hear TREB’s appeal.

Let Me Know what you think about your information getting out there? Are you OK with this?

READ RECENT BLOG & ARTICLE POSTS BELOW

Virtual Staging

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

Price Drop 30% put into Perspective

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

Are You Ready For Your Information To Go Public?

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

ADDITIONAL COSTS WHEN BUYING A HOME

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

Over Rated Home Features

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

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 estate at...

read more

Buying a New Build From A Builder Sucks

Buying a New Build From A Builder Sucks

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 buy a new build, you’re better off buying something that is built already and let somebody else deal with the stresses that come along with closing a house.

I will play devils advocate and say that if for some reason you find a reputable builder and have dealt with that builder, than you could actually make some money, and have a great experience. On the other hand, in my experience, I have been seeing one bad situation over and over to warrant that most builders are not doing a great job and really screwing the end user you at the end. Here are all the things I’ve had to deal with my clients that should not be happening.

1. Closing Cost: While most lawyers will put a clause to cap certain costs, (which I make sure that are in there) There are builder levies that can reach thousands of dollars. I recently had clients see closing costs from the builder hit over $10,000 for a 1 plus den & $19,000 2 bedroom plus den. My clients were not happy and were scrambling to find money.

2. Delays: I’ve have not seen a condo builder close on time. I believe they are allowed to delay up to three times. I have also seen a builder not even start a project, and it has been 3 years and there is nothing anybody can do about it. Also deposits, and occupancy fees must be paid during these delays. These delays can mean a lot of things, no payment to your mortgage, and no increase in value if the project altogether is delayed.

3. Not being able to rent or sell: Most builders are not allowing you to rent or sell units until the final closing. If you want to sell, you will have to pay huge assignment fees. There goes your profit. I had a builder tell my client a few years ago that he couldn’t rent his unit. So he got the unit, and was planning on renting it, then it had to sit empty until final closing, which was months. Think about it!

4. Workmanship: One of my clients recently purchased a new build house that was so poorly constructed that it had to be renovated when it was moved into. I couldn’t believe the work, with my family being in construction for so many years. (Don’t get me started on condos) Also good luck in getting these builders coming back to fix anything. They have up to a year while you look at your wall which is crooked.

5. New development cheaper than your unit: A few years back, I went to a new phase launch. The builder released the prices and I was astonished when the builders prices were 20% cheaper than the last phase. I spoke up at the meeting and said, hey, we are selling a unit in phase 2, how can you sell it 20% cheaper, now my client can’t even sell the unit. They did not answer me. The truth is, the builder wanted to get his units sold quick and didn’t care about the previous buyers or the market in that building.

6. Assignment fees: Builders can charge whatever they want for assignment fees. They can typically say no to any assignment fees. What if the mortgage rules change and you don’t qualify anymore since you are waiting for two years for this condo to close?

I can make this list 10 pages long, but I will stop there. While I might sound like I’m complaining, the honest truth is, I want my clients to succeed, make money and not get hit with any surprises. While many agents out there have great stories, these experiences are mine, and my opinion. I’m sure there are great stories of people buying cheap new builds sitting on it for two years, and making a ton of money. Yeah that is out there, but my clients are just trying to get ahead and buying that first investment or first property. Those things have not been my experience, so my advice to you is… Call me, let’s talk! 🙂

READ RECENT BLOG & ARTICLE POSTS BELOW

Virtual Staging

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

Price Drop 30% put into Perspective

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

Are You Ready For Your Information To Go Public?

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

ADDITIONAL COSTS WHEN BUYING A HOME

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

Over Rated Home Features

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

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 estate at...

read more

ADDITIONAL COSTS WHEN BUYING A HOME

ADDITIONAL COSTS WHEN BUYING A HOME

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. Depending on the lender, the premium can be added to mortgage payments.

 

Appraisal fee: Lenders typically loan a percentage of the home’s purchase price or the market appraisal of the property. Cost depends on the size and complexity of the assignment.

 

Land survey: The lender may ask for a current survey or certificate of location before signing off on the loan. There can be a substantial cost for having a new survey done on the property.

 

Deposit: A deposit normally goes with the formal offer to purchase.

 

Insurance: The lender will require proof of property insurance for the replacement value of the house and its contents from the day you take ownership.

 

Title insurance: Provides coverage in case of problems with the property title among other things. The cost is relatively low, usually a few hundred dollars.

 

Application fee: Some lenders will pass on the cost to process your application. These fees vary and some lenders will waive entirely if you have other accounts with them.

Mortgage broker’s fee: If you use a mortgage broker, a fee may be charged to arrange a mortgage on your behalf.

 

Home inspection fee: An inspection protects the buyer by revealing any problems in the property that you’d want to know before you move in.

 

Legal fees: You can save some of the legal fees usually charged by the lender if your lawyer draws up the mortgage. You’ll also pay for disbursements which are the costs involved in drawing up the title deed, conducting a title search, and preparing and registering the mortgage.

 

Land Transfer Tax: There is a provincial Property cash grab the province charges you to buy a house. If you live in Toronto, they want to get their greedy hands on your life investment as well. So If you buy in Toronto there is two taxes and one outside of Toronto.

 

HST: Resale (used) homes are exempt from HST but it does apply to newly constructed homes and may qualify for a partial rebate depending on the sales price and if the home is going to be your primary place of residence. HST also applies to most of the services provided in completing the real estate transaction.

 

Other costs: These include moving costs, fees charged by utilities for service hook-ups, property tax and other adjustments (an adjustment takes place when the seller has already paid for something in advance and wants to be credited for the unused portion on the date the house becomes yours), and ongoing maintenance (condo fees etc) and utility costs.

 

Real Estate Fees: Typically the Seller on paper is paying the fees for Real Estate and it is incorporated in the sale of the property. Some sellers refuse and want the buyer to pay for their own, and this is where you must incorporate that into your purchase price.

 

Condos: Builder Closing Costs, Condo Reserve Fund, and more. As An Agent the Builders of this generation hits you with a document not even the lawyers can understand, but one thing they do have in there is that they can charge you whatever they want at closing to make a few extra bucks in their pocket. They will charge you for the their closing costs with the city and they will charge you for God knows what. Anyway, know that you will need some extra money in the bank come closing time. Your lawyer can help and cap fees, but you will still be charged something. Bet on that.

 

READ RECENT BLOG & ARTICLE POSTS BELOW

Virtual Staging

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

Price Drop 30% put into Perspective

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

Are You Ready For Your Information To Go Public?

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

ADDITIONAL COSTS WHEN BUYING A HOME

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

Over Rated Home Features

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

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 estate at...

read more

Over Rated Home Features

Over Rated Home Features

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. Dyson makes some of the best cordless, or corded vacuums on the market. Get out of the 80’s and get one of these. They clean better, and you don’t have to carry a snake around the house scratching your floors.

2. Stainless Steel appliances: Yes when they first came out, they were flashy, and they still do look better than cheap white appliances, but, its not new. You can buy nice ivory or black or other colours now.

3. Dining Rooms

Separate Dining rooms or “Show Rooms” I like to call them are a thing of the past. Nobody really uses them, and it generally a waste of space, you use once or twice a year. Yes, there are a few people that use them regularly, but most people don’t. Look for a house with a bigger kitchen, bigger living area, or open concept.

4. Huge Frontage

Who uses the front of their house grass? You want the space to be in the backyard. Look for houses which are bigger in the back, and minimal in the front.

5. Gyms or amenities

For those that live in Condos, gyms and pools and amenities are rarely used. Most gyms in condos suck and are small, and most don’t use the pool or amenities. Its better to find a condo that doesn’t have these so the fees are cheaper and you can spend your money on a proper gym.  

READ RECENT BLOG & ARTICLE POSTS BELOW

Virtual Staging

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

Price Drop 30% put into Perspective

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

Are You Ready For Your Information To Go Public?

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

ADDITIONAL COSTS WHEN BUYING A HOME

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

Over Rated Home Features

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

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 estate at...

read more

Uber is Not Like Real Estate!

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 end of the day. Post you are selling your house on facebook and thousands will take notice, and you’ll get your house sold.

couple lookingRealtors Jobs change each day. It went from a job where mls listings were faxed every morning to being a super high tech savvy digital marketing social media guru.

The truth is, there are so many facets of the job that are unaccounted for, that is the reason why a simple app, or faceless website cannot replace the brain beside inside the agent.

Agents always have this fear that if the mls system, or comparable information goes public, then our jobs would be meaningless. That may be the case for some agents, but for great agents who are out there, this doesn’t mean anything to them. For those agents, its not just one thing that makes them great, its a number of things all together.

keys to coupleThere are many for sale by owner websites out there, and many lawyers closing the transactions for clients without agents. Bad agents are out there, and bad companies are trying to get whatever business they can from this crazy market. When there is huge money to be made, there will be scavengers and people trying to capitalize.

A company years ago had a video of all of the things they provide for their agents. It was a five minute video depicting the life of an agent, who works for their clients 24 hours a day, and listed all of the craziness from doing 10 offers and losing, to dealing with lawyers, banks, and clients. These guys had that video down and accurate to what our job entails. (I wish I could remember the company)

Technology will come and go wherever there is money to be made, there are too many variables in Real Estate to try and make it an amazon, Uber or Expedia.

READ RECENT BLOG & ARTICLE POSTS BELOW

Virtual Staging

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

Price Drop 30% put into Perspective

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

Are You Ready For Your Information To Go Public?

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

ADDITIONAL COSTS WHEN BUYING A HOME

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

Over Rated Home Features

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

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 estate at...

read more

Transit Solutions Would Help Lower GTA Prices

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 crushed, and I believe this will not end very soon, even with the government trying to cap it.  

Right now, people want to live and work in the city, which traditionally wasn’t theTTC getting on bus case for many years. People, typically lived in the city while they were younger, and moved to the suburbs to raise a family with a huge house, and a white picket fence, and a lot less traffic in the neighbourhoods. All of that has changed.
 
 
Workers are realizing that sitting in traffic for two hours is not good for our heath, and that time is very very valuable. Families are adjusting to living in condos, and then moving up from there to get a start in the housing market. Since the suburbs have also reached unprecedented prices as well, it almost seems like the answer to just adjust your life to smaller and smaller living quarters.  
 
 
A major reason more people are looking to stay in the city is that in the past while traffic has always been bad,  it has not been as bad as it has gotten. Busses, subways, and go trains are regularly crammed to the max. Transit delays, are a daily thing, no matter where you come from in the suburbs. Highways and low-ways are bumper to bumper. Accidents and construction projects are a daily obstacle on every artery.
John Tory in Front of bus
 
John Tory our mayor has long been a proponent of many solutions to transit, whether it be smart track, new subways, or having Uber in the city. He also understands that having a city that is easily accessible is a city that can compete with cities across the globe. Right now, we have a city that has the worst transit system in the world, highways that are crumbling, and a TTC and Go system that is wrought with scandal and money squandering. Read this article About it
 
If somehow Toronto could have a few more transportation options into the city, the GTA could expand, and people who live outside traditional boundaries would be welcome to living in the country, and taking transit into work. This would alleviate some demand from the city, and help build infrastructure. 
 
Imagine living in Barrie, or further, and getting to work in 30 minutes or less. The Japanese accomplish this in  with super trains, why can’t we do that here? Finally the feds may be giving Southern Ontario some help; (read here) hopefully its enough to make some real change.

READ RECENT BLOG & ARTICLE POSTS BELOW

Virtual Staging

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

Price Drop 30% put into Perspective

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

Are You Ready For Your Information To Go Public?

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

ADDITIONAL COSTS WHEN BUYING A HOME

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

Over Rated Home Features

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

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 estate at...

read more

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