reply to “More buyers pushed out of market…for now”
This article exemplifies two or three of my pet peeves about newspaper writers, headline writers and print/post editors when the add stories on Real Estate and quote “experts” from the Stock/ Bond/ Financial Derivative/ Wealth-Mgmnt fee-gathering / wholesale REIT-flogging businesses … who have competing “dogs in the hunt” for consumer investment $$$ Tuesday, 26…
What!/! Homes are still selling at $210,200 overlist!!
Initially I called this post “Exclamation of true market condition” now it’s called “Things aren’t always what they seem to be” FIRST POSTING $210,200 OVER asking and my client STILL didn’t get the property!!! Market slow down?!? I think not people. See Generic Post Below SECOND POST List price was $599,800. My opinion of…
Reply re: “imputed”Agency on article on Ontario Legislation tentatively addressing “Phantom offers” aka lying
Please read the full Opinion piece Opinion: Bill won’t stop phantom offers By Vito Campanale Nov 22, 2013, REM ONLINE Vito Campanale CPA is broker of record of Century 21 First Canadian Corp. in London, Ont. Excerpt I like the changes being proposed by this amendment to the act in Section 35, but the “phantom offer” provisions…
HOMEBUYERS’ BILL OF RIGHTS
Home Buyers’ Bill of Rights Concept Courtesy of Accredited Real Estate Buyer’s Agent Council National Association of Realtors Modified by ‘Uncle Bob’ (#4 added) You have the right to remain silent Anything you say may be used against you when buying a home You have the right to be represented You also have the right to…
So you want a Variable Rate Mortgage?
I received this synopsis in an eblast on Nov 14/13 from Marcus Tzaferis of MorCan Direct 1006 King St W, Toronto, On M6K 3N2 info@morcandirect.com and I concur, see points at end of MorCan post: So…. You want to get a Variable Rate Mortgage. Be careful, some of the offers out there right now will…
The assessment to this property is $ 777,000 in the MPAC report. Why is it listed at $1.2 million?
The assessment to this property is $ 777,000 in the MPAC report. Why is it listed at $1.2 million? The Municipal Property Assessment Corporation (MPAC) uses a series of algorithms to calculate a “value” that is multipled by the Mil rate (per thousand) to calculate the municipal taxes each yr The assessed value is often…
HOMES ON MY STREET ARE NOT MOVING.-IMPLICATIONS & INDICATIONS.
Homes on my street are not moving.-Implications & Indications. JUNE 20, 2010 M, In reply to your question “I notice that none of the houses on my street are moving. About 4 up for sale now for some time“ Forecasting is a fool’s game – I’m wrong at least 60% of the time…
IS ALUMINUM WIRING DANGEROUS?
Is aluminum wiring dangerous? Q….Is aluminum wiring dangerous?from Zoocasa Ask the Pros A…. Robert Ede The wires are not dangerous – it’s the connections to receptacles, switches and fixtures that was the cause of a problem in the 1970’s. Back then, the price of copper and copper wire rose. Some builders chose to use…
WHAT IS A ‘BIDDING WAR’?
What is a ‘bidding war’? Q….. What is a bidding war? from Zoocasa ASk the Pros Two kinds: Natural & Planned. The Natural bidding wars is nothing more than two simultaneously current offers being considered separately (but with details of both kept private) A “planned” Bidding war is a purposed strategy created by the…
WHAT IS A HOME INSPECTION AND SHOULD I HAVE ONE DONE?
What is a home inspection and should I have one done? What is a home inspection and should I have one done? From Zoocasa ” Ask the Pros” A….Robert Ede Home Inspection is only as good as the Attitude, Skills and Knowledge of the person doing the inspection. The process starts with the Seller;…
HOW DO REAL ESTATE AGENTS GET PAID?
How do real estate agents get paid? From Zoocasa ” Ask the Pros” Q ….How do real estate agents get paid? A….Robert Ede This is another “Backwards to First impressions” aspect of life ( and Buying/Selling Real Estate is the Quintessence of Life). In a Seller’s market, Buyers pay a premium over the Seller’s…
DO I HAVE ANY OBLIGATIONS TO MY AGENT ONCE MY LISTING EXPIRES
Do I have any obligations to my agent once my listing expires Q….. Do I have any obligations to my agent once my listing expires From Zoocasa ” Ask The Pros” A…..Robert Ede Holdover Clause: NB NB This same Holdover clause is written in the BUYER Representation Agreement The “Holdover” clause continues the (original…
HOW MUCH DOES THE CMHC INSURANCE COST?
How much the CMHC insurance cost? Q…..How much does the CMHC insurance cost? from Zoocasa Ask the Pros A…. Robert Ede High Ratio (ie the ratio of Mortgage Amount to Property Value) Mortgage Insurance is offered by CMHC and a few other smaller players in Canada. The original idea (National Housing Act)was to support…
THE BUYER HAS CONTACTED ME ABOUT BUYING THE HOUSE FSBO. WHAT SHOULD I DO?
The buyer has contacted me about buying the house FSBO. What should I do? Q … I had a listing contract for my house expired on Sept 10th. The agent brought me an offer on Sept 9th. We still don’t have a ratified contract with the buyer. The listing agent has not asked…
WHAT IS UFFI AND HOW DOES IT AFFECT ME?
What is UFFI and how does it affect me? A….What is UFFI and how does it affect me? From Zoocasa ASK THE PROS A …… Robert Ede UFFI is a substance that if improperly installed can emit formaldehyde gas (as does new particle-board furniture & cupboards, carpetting and the hunman body) After a period…
What exactly is a CONDO?
Q …….What exactly is a CONDO? From Zoocasa ASK the PROS A….Robert Ede A Condominium is a space that has been given a Legal Description and marketable title as part of a condominium corporation. It’s a method of intensifying the use of a piece of land, controlling the shared maintenance and appearance and allowing people to…
AS A FIRST TIME BUYER WHAT RESOURCES WOULD YOU SUGGEST FOR UNDERSTAND THE BUYING PROCESS?
As a first time buyer what resources would you suggest for understand the buying process? Q…. As a first time buyer what resources would you suggest for understand the buying process? From Zoocasa ASK the Pros A….. Robert Ede First Time Buyer. Understand who is working for you and who is working “off” you.…
I’M ON FINDYOURSPACE.CA AND PROPERTYGUYS ..WHY DO I NEED AN AGENT?
I’m on FindYourSpace.ca and PropertyGuys ..Why do i need an agent? Q……. I’m on FindYourSpace.ca and PropertyGuys ..Why do i need an agent for Zoocasa ?? from Zoocasa Ask the Pros A….. Robert Ede What is your #1 Objective: a)placing your home for sale as widely as possible at the lowest possible cost? b)selling…
HOW MUCH OF A MORTGAGE CAN I AFFORD?
How much of a mortgage can I afford? Q……How much of a mortgage can I afford?from Zoocasa ASK the PROS A……. Robert Ede Quickly & assuming you have good credit and 5% down: Take your Gross (ie pre-tax) Annual Family Income Divide it by 40 Answer is the monthly payment you can carry including…
WHAT ARE THE IMPORTANT THINGS I NEED TO MAKE SURE I FIND OUT BEFORE BUYING A CONDO IN TERMS OF THE CONDO ASSOC AND FINANCIAL STATUS ?
What are the important things I need to make sure I find out before buying a condo in terms of the Condo Assoc and financial status ? Q…. What are the important things I need to make sure I find out before buying a condo in terms of the Condo Assoc and financial…
WHEN IS A FRONT PARKING PAD PERMITTED?
When is a front parking pad permitted? Q…..When is a front parking pad permitted? From Zoocasa ASK the Pros A….. Robert Ede A front parking pad is permitted on streets where permit parkin will not serve today’s residents. Narrow mutual drives were built for Model T era cars and just don’t work today Each…
SHOULD YOU GO WITH A SHORT OR LONG-TERM MORTGAGE?
Should you go with a short or long-term mortgage? Q…….Should you go with a short or long-term mortgage? from Zoocasa ASK the PROs A…..Robert Ede Sept 12/2010 Rates are very close to the all-time low and will be low for 6-12 months before creeping up very slowly NB Bank Prime s/be 4%+ CPI inflation…
DO I REALLY NEED A REAL ESTATE AGENT? WHY?
Do I REALLY need a real estate agent? Why? Q….. Do I REALLY need a real estate agent? Why? from Zoocasa ASK the PROS A….No. But why not? In most cases registrants do not charge you anything until after you’ve been paid your proceeds in full. If they don’t do as they promised ……
HOW CAN YOU ACQUIRE A HOME WITH AS LITTLE AS 5% DOWN? OR IS THIS EVEN A GOOD IDEA?
How can you acquire a home with as little as 5% down? Or is this even a good idea? Q….. How can you acquire a home with as little as 5% down? Or is this even a good idea? from Zoocasa ASK the Pros A…….If you can be approved for a 95% loan and…
BANK FORECLOSURES -good for buying a bargain?
bank forclosures Q……bank foreclosures from Zoocasa ASK the Pros A…..I think want you want is a slightly distressed property at a greatly-distressed price – yes? Not to worry, all these are bought by friends of the bank, or by industry insiders. Try looking for owner-occupied homes that have been for sale for more than…
WHY ARE MAINTENANCE FEES CALCULATED BY SQUARE-FOOT, NOT NUMBER OF PEOPLE RESIDING IN A CONDO?
Why are maintenance fees calculated by square-foot, not number of people residing in a condo? Q….Why are maintenance fees calculated by square-foot, not number of people residing in a condo? Please think before you answer. from Zoocasa Ask the Pros A….Good question. That’s why newer buildings unbundle the heat and hydro from the maint…
EXACTLY WHAT IS A “LINK” STYLE PROPERTY. PLEASE DEFINE
Exactly what is a “Link” style property. Please define Q….Exactly what is a “Link” style property. Please define from Zoocasa Ask the Pros A…A link is a detached-looking home on a semi-detached sized lot. Shrewd builders started joining homes by the garage (thus eliminating common walls), then by small above-grade extentions and then by…
SHOULD I DROP MY LIST PRICE? ….AGAIN?
Should I drop my List price? ….again? From Zoocasa Ask the Pro’s Section Q …Do we need to drop our price again, or could the Realtor be the problem? My home has been on the market for six weeks and not one showing. The broker did an open house after I asked him about…
WHEN WILL WE BE ABLE TO LIST WITHOUT AGENTS?
When will we be able to list without agents? From Zoocasa Ask the Pro’s Section Q… When will we be able to list without agents? A… Robert Ede Your real/root question (that was prompted by poor facts in the newspaper coverage of the Competition Bureau’s self-serving 2009 crusade against the Canadian Real Estate Association)…
WHAT COMPANY WILL PUT YOUR HOME ON MLS FOR A FEE-ONLY?
What company will put your home on MLS for a fee-only? From Zoocasa Ask the Pro’s Section Q…..What company will put your home on MLS for a fee-only? A…. Robert Ede Some Registrant with almost every Firm will. This question is the nub of the debate caused by the Competition Bureau. Let me respond…
My Realtor Acting as Both ….
My realtor is acting as both seller’s and buyer’s agent. From Zoocasa Ask the Pro’s Section Q….. My realtor is acting as both seller’s and buyer’s agent. This is my first experience as a seller, I did not know if there should be concern here. But it’s becoming obvious that my agent is looking…
Refuting the idea that “Pocket listings cut into MLS sales”
Pocket listings cut into MLS sales Written by Vernon Clement Jones “..…… Greater Toronto Area Realtors reported 7,765 transactions through the Toronto MLS system in March – that’s down 17 per cent compared from the 9,385 recorded a year early. It also means that for the first quarter of 2013, sales came in at 71,678,…