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Effectively Market A House

1. Determine niche: What might be the ideal buyer, for your house? Is it better suited, for a bigger family, or would it be considered, a starter – home, or step – down type? Are the schools in the area, a positive, selling point? How convenient are factors, such as transportation, shopping, entertainment, etc? Doesn’t it make sense, to consider this, first, to proceed, with a focused marketing plan?

2. Marketing Plan: Once you have determined, who, and what, you are marketing, agent and homeowner, should come, to a meeting – of – the – minds, and determine a quality, detailed, marketing plan, so they can proceed, with teamwork, and, on, the same page. How will the house, be marketed? Where will it be promoted and advertised. and why? What will be the agent’s responsibilities, and which will be the homeowners? Working together, understanding their joint strategy, and focusing, on the best way, to have the home presented, are key, early steps.

3. Teamwork: When agent and client, understand what they seek, and work together, towards

Right Mortgage Broker

Normally it’s in the best interest of the seller to continue with the offer rather than drop it for the next one. However if you got the accepted deal while in a multiple offer circumstance, the situation isn’t stable. The seller doesn’t want to lose time dealing with you when they might have another buyer who has been bugging them for a chance.

Time delays in an offer

When I receive an offer or create one for my buyers, we normally see 10-14 calendar days for financing for a residential property. Over the years, I have been finding that banks are taking much longer to approve the financing. They have stricter criteria and more red tape, which creates more delays. Many buyers may not have their files complete with their mortgage broker as well, which also creates time delays.

“I’ve experienced hundreds of interactions with mortgage brokers, and there have been instances that could have easily been avoided with the right questions from the start. On one deal I did, the mortgage broker was from Calgary. He didn’t

Before Purchase New Home

Before you look at your first house, you should review your credit report and check it for inaccuracies. Once per year, you can get a free copy of your credit report at: annualcreditreport.com. Before you contact a bank or mortgage company, review the report and clean up any past issues and make sure there are no inaccuracies or mistakes. To qualify for a mortgage, you will need to meet the minimum credit qualification standards.

If you are a first-time buyer or have had credit issues in the past, it is a good idea to talk to your family and friends and ask them to refer a mortgage professional that they have had a good experience with when they applied for a mortgage. To apply for a mortgage, you will need at a minimum the following documentation: pay stubs, bank statements, tax returns, and other personal information. If possible, try and meet your loan officer face to face. This will give you peace of mind and reduce stress. If you are concerned your mortgage could be denied, be sure that you apply for a fully underwritten mortgage

Financially Preparing To Buy A House

1. Get a copy of your personal Credit Report: At least 6 months, prior to, beginning your house – hunting, get a copy of your personal Credit Report, and review it thoroughly. Take steps to correct any errors and/ or mistakes, in order to be as prepared, as possible. This can, either be done, by yourself, or, one can take advantage of using professionals, who might do so, for you! Remember, the better your report and credit score, the better your mortgage terms, and ease of securing the best one, for you!

2. Correct, fix and address: Don’t merely get a copy, but correct it, if needed, fix any deficiencies, which might be detrimental, and address any issues, or potential ones. Again, you can do so, yourself, or use the assistance of a professional!

3. Save as much as possible: Be prepared with the necessary funds for your down – payment, as well as any other funds needed, for Closing, In addition, begin to accumulate as much of a reserve, as possible, in order to maximize your enjoyment, and reduce the stress!

4. Do not open any new credit: Often, when we shop, the store

Buying First Home

Before you start looking for your first home, you will need to be financially prepared by saving a deposit. Generally, saving 10% of the value of your first home is a great target since it meets most lender’s requirements. Ideally that 10% has been saved over a minimum period of 3 months which is known as ‘genuine savings’. Showing lenders you can regularly save means they trust you more to make your loan repayments.

That 10% will be split into 1) your deposit and 2) associated costs. One of the biggest costs will be stamp duty, along with legal costs, strata and building report costs.

It is now time to figure out exactly how much a lender will loan you, and how much you can afford to repay. Financial factors that are considered include, how much you get paid, how much debt you have, your living expenses, your assets and more.

It will also be time to figure out what incentives are available to first home buyers in your state. Depending on the value of your first home, stamp duty might be waived or discounted along with potential first home owner grants.

This is

Home Ownership

Homeowners are likely to live healthier and longer. This hidden perk is anchored on the fact that newly built homes now adhere to standards that promote healthier, more sustainable, and greener way of living. From materials used to the design standards, the occupants are much into reaping better air quality inside the house.

Persons with own house are less likely to develop and suffer from anxiety, depression, and other related mental health conditions. This does not erase the fact that there will still be some percentage, but to some extent conditions such as these are likely to be hampered. First, the owner is relieved from the stress of thinking of when and how to secure a safe shelter for children. Then, the owner is also freed of thinking where children will live in case something unfortunate happens. Also, an own home is a contributing factor towards the effective parent-children relationship.

Children develops self-esteem. While it is true that it is upon the nurturing and guidance of parents that children develop self-esteem, it is also important to understand that aside from toys and other recreation, an own home has a big impact to a child’s personality. His

Essentials When Buying Property

Location

One of the most important factors to consider when buying a home is the location. The location is as important as the price of the property. Believe it or not, the location affects how you live later on.

Imagine buying property away fro civilization, how would you suppose to find a good commute to work? Unlike buying aroperty that has good security system, you would surely live at peace and feeling safe every single day.

When buying property, first determine where the location should be that would best fit your needs.

Neighborhood

As important as location is the neighborhood. When you visit the location, try to know the status of the neighborhood and make sure they are friendly and nonviolent. It is important that you are comfortable living with your neighbors. Otherwise, it would be a regret in the end.

You can perhaps talk to the neighbors during your visit and ask them about the people living in the location. Perhaps they can give you better insights about the place and the people living nearby. They can even tell you how safe and convenient the location is.

Price

When

Economic Considerations

1. Tax deductions: Although, for many, especially, those in, so – called, high SALT states/ regions, the tax deductions, associated with home ownership, are less than they have traditionally been, there is still an, up – to $10,000 tax deduction, on one’s federal tax return, for the state and local taxes, we pay, Therefore, when we consider, whether, there are advantages, to buying, instead of renting, this must be factored in. If the net – numbers, of renting, versus, owning, are compared, and if they are close, home ownership often becomes more economically, advantageous, because of the appreciation, and equity, involved, in owning.

2. Mortgage/ mortgage interest: Mortgage interest, up to that paid, on a $1 million mortgage, is still, tax – deductible, so, when one considers, if it makes sense, for him to purchase, this must also be considered. In addition, a wise consumer considers, whether his monthly costs, are within their personal comfort zone, and strengthens, their enjoyment, etc.

3. Local real estate market: While there is, often, much discussion, about the overall, real estate market, every local area, is different, and certain ones, appreciate more, and/ or, depreciate, less, than other areas/ regions/

Credit Home Buyer

1. Research; reliable; responsive; responsible: Do your personal research, and know, what’s needed, and necessary, to make the process, as easy, as possible! Don’t fool yourself, but, rather, proceed, in a reliable, prepared manner! When information, paperwork, etc, are needed, by a lending institution, you must be responsive, to requests, etc. You must be a truly responsible, adult, if you hope, this process, goes smoothly!

2. Examine; excellent; enhance: The main advantage of getting a pre – approval, is there will be few last – minute surprises! Carefully review and examine, all credit – related aspects, etc. Know if your credit is excellent, and, if not as good, as you might desire, do what’s necessary, to enhance and improve it, systematically, and effectively!

3. Agenda; attitude; attention; If you want to buy a home, you probably will need a mortgage, to assure the best results! This must become your focus and strong, strict, focused agenda! Proceed with a positive attitude, and a willingness to listen to the experts, and do so, responsively! Pay attention, and be responsible!

4. Do: If you want this to go well, don’t assume you’re the expert, but, rather, proceed, in

Mortgage Qualifying

1. Overall Credit Rating, and Score: The higher one’s credit rating, and score, the better, the chance of securing the best possible form of financing. Wise home shoppers, begin the process, at least six months, before they start their hunt/ search, and secure a copy of this report, from the major bureaus. Do so yourself, or if, needed, use a professional’s help and guidance. Correct errors, fix them, and begin reducing your debt. In this period, avoid taking out, and/ or using any additional debt!

2. Total verifiable income: How much income (verified), can you show, and prove? Know how much mortgage, you qualify for, by discussing it, well, in advance, with a Mortgage Professional!

3. Debt, other than mortgage debt: Lending institutions, use a formula, which factors in your overall debt, and your mortgage loan, will be impacted, by this percentage. It is a wise idea, to begin paying – down, the balances on your credit cards, and other personal loans, etc.

4. Combined/ total debt: In addition to the formula for overall debt, there is another percentage, lenders use, to guide them, to the maximum amount of mortgage, they will offer. This is

Sell Property Privately

Benefits of selling a home privately:

• You do not have to share your profits with anyone
Since you are selling the property without hiring an agent you do not have to a commission which is a percentage of the total sales amount.
• You are in control of the sales process.
When an agent sells your property, he has the control over the process. On the other hand, when you sell your property privately, you have control over the entire sales process.
• You have the flexibility to arrange viewings as per your convenience.
• You can negotiate a price you deem right.

How to sell your property privately?

De-clutter

Clear up your home to remove any articles of personal nature.

Inspect

Inspect your home for any faults or defects and correct them.

Home-staging

It is decorating your home to attract buyers. You could consider professional home-staging services. Home-staging not only attracts buyers but also helps your property fetch a better price.

Price your property

Accurate pricing of your property is important for selling it quickly. For this, you could research the prices of similar properties on

Get Cash Offer On Home

When you sell a home through a real estate agent, there are many steps along the way that can delay the process. Some of the most frustrating are having to wait on buyers to obtain financing, which can turn a potential deal into one filled with chaos, especially if the buyer is declined financing by their lender. However, investors are usually ready to pay cash for their purchase, and also have the ability to close the deal far quicker than traditional buyers.

When you choose to focus on having an investor purchase your home, you’ll usually have much greater flexibility when working out a deal. This can be particularly important if you still have a mortgage on your home, since this can sometimes be a sticking point in negotiating a deal with a buyer. However, since investors are more willing to take on an existing mortgage, it’s possible to sell your house fast much easier than you anticipated.

When you are eager to sell your home fast due to an illness, job relocation, divorce, or inheritance, you may not have the time or money needed to make one repair after another. While this may hinder you

Which Impact Home Buying

1. Supply: When the supply, of house’s available, on the real estate market, exceeds the demand, we have a Buyers Market, which generally, lowers selling prices, and helps buyers, purchase more house, for less money! The economic theory of Supply and Demand, is extraordinarily, relevant, when it comes to real estate, and often, fluctuates, considerably, from time – to – time. Sometimes, this occurs, gradually, over a period of time, while at other times, it changes, dramatically, rather quickly. This is why, one must carefully evaluate and consider, pricing, not, merely, in terms of what has been, or what is, but also, what might be!

2. Demand: When the demand for houses, exceeds the supply, it creates a Sellers Market, For the past couple of years, we have been experiencing that type of market. Many factors effect this, including competition, job market, overall economy, public perceptions and comfort zone, and the specific, local market. We must all beware, and prepare, for factors which might impact real estate and the housing market, including the capping of so – called, SALT deductions, as well as rising mortgage interest rates.

3. Perceptions: Buyer and seller perceptions, are, often, quite

Banks Are Approving Buyers

These days, when the banks send in their evaluators, they don’t just assess value. They also report back about any cracks in foundations, or major up-keep issues. This raises red flags on the file and the loan officer will likely ask to see the building inspection report.

Inspection report can bring up more problems than expected

The state of a property tells a story. Overdue maintenance on brickwork, cracks in the foundation, a deteriorating leaking roof will all significantly lower the value of a property.

When a property is flagged and the loans officer requests the inspection report, you must oblige, even if you put in an offer that was not conditional upon an inspection.

You must go back to the vendors and explain that the bank is insisting on a report.

Of course, this usually happens near the end of your timeline to get the mortgage approval.

If the inspection wasn’t part of the initial deal, the vendors can refuse to let you do an inspection.

This happens quite often because reports often bring up more problems than expected, which can scare off any skeptical buyer.

If the deal

House Staging

1. Benefits/ possibilities: As the lyrics of the song, go, Accentuate the positive, eliminate the negatives, staging is often done, to achieve, the objective, of being able to show off a home, in its finest light! Sometimes, this means, simply, de – cluttering, or adding accent lighting, etc, while, at other times, a larger effort might be indicated. Sometimes, one hires a home – stager, to bring in, furniture which will make rooms appear, warmer and friendlier. larger or more, user – friendly! The height of chandeliers, often makes the room’s dimensions, appear, considerably different. When potential buyers are viewing a house, many lack the ability and/ or perception, to visualize, what the possibilities of a home, might be, and, thus, staging helps these people, see things as they might be., Selling a home, professionally, and proactively, often, means, ensuring, every viewing, is, appealing to the potential buyer!

2. Marketing: Many potential buyers, make their decision, whether to look at a particular house, is based on how a house, looks, in the pictures, posted on the Internet. Therefore, professionally staged houses, often, have a marketing advantage, because they attract, more qualified, potential buyers, to consider, proceeding forward,

Avoid Buying A Money-Pit

1. Qualified, experienced, recommended, home inspector, and/ or engineer: Since most of us, are not experts, nor qualified, to examine the condition of your prospective house, before purchasing, nearly every attorney strongly recommends, getting a home inspection, before agreeing to purchase any real estate. Ask around, to others, you know, personally, as well as your real estate professional, and find the best one, to assist you, and direct you, properly! The more you know, in advance, the better, off, you will be!

2. Major, versus minor renovations/ repairs: While, nearly every house, needs some work, you should identify, routine things, from big projects, and deal – breakers! However, when you know, in advance, as much details, as possible, you should use this information, in order to add, these costs, to your purchase price. Can you afford this total cost? Are you getting what you need, and the best, bang – for – the – buck?

3. Needed, versus cosmetic changes: Most home buyers make some changes, to best meet their personal tastes, etc. This includes minor renovations, painting, and addressing, perhaps, certain appliances, flooring, etc. These are regular, expected, cosmetic changes, and must be distinguished from

Property Buyers

1. KNOW YOUR PROPERTY BUYERS WELL:

Being a home owner, it is your right as well as privilege to know your property buyers credentials beforehand itself. A reliable property buyer will ensure a smooth and transparent sale. While it is important that both sides are mutually aware of the property sale in question, you need to share mandatory information with your house buyers and keep all communication channels open and flowing for a step-by-step, peaceful and amicable transaction.

2. EDUCATE YOURSELF ABOUT YOUR OWN PROPERTY:

Before initiating a sale and reaching out to property buyers, it is important to keep yourself up-to-date regarding all matters pertaining to your property. Any house buyer will want to know that you have all of the relevant papers and supporting documents for your property. Therefore, it is pertinent to keep accurate records of all papers and supporting documents in a neat and organised manner for your property sale to go in a smooth and hassle-free way.

3. DO A COMPLETE LOCATION RECCE:

There are many reasons why you should insist on a location check along with property buyers beforehand. A professional house buyer helps you to gauge

Quick Sale of Property

Plan of action for a quick house sale

There are some actions required on your part if you desire to sell your house as soon as possible. There are bound to be many sellers in the market offering a similar type of property. In order to complete your sale soon you need to compete with them and for that you need to stand out of the crowd. Following are some tips to sell a house quickly-

1. The first and the best move is to contact a real estate agent to plan your sale and know the market value of your property. A real estate agent will fetch a buyer soon for you and give you the best advices on your sale plan.

2. The next move is to enhance the appeal of your property and bring updates which are in your budget. For your property to be sold the major condition is that a potential buyer should like it. You should clean every corner of your home and beautify it before the buyer visits to check your property for the first time. Upgrades are important to add value to the appeal of your property.

Real Estate Terms

New Roof

The term “roof” is misleading in that it implies the roof covering plus the roof sheathing, rafters or trusses. The word “new” is rather nebulous as well. “Shingles replaced in 2015” is a more accurate description.

Updated Wiring

Does updated wiring mean the size of the service has been increased or additional circuits have been added? Does it mean that the older knob tube wiring has been torn out (which is not a requirement of the Electrical Safety Code, however most often an insurance issue)? Sometimes it means that the old outlets have been replaced with modern-looking ones, however the wiring has not been changed at all.

A better approach may be to comment on the adequacy of the incoming service and more importantly the adequacy of the distribution network. Both of these however, are very difficult to assess without a solid understanding of electricity. We all know that you cannot determine the size of an electrical service by reading the sticker on the main box in the basement. It may be best to leave this one alone.

Thermal Windows

There is really no such thing. The R value (resistance

Pros and Cons of Rent To Own

Pros and Cons

A pro of participating in a rent to own program would be the final down payment issue. You do have to provide a down payment with the lease signing $6000 to $12,000, but in comparison to what a bank would require, (15-20% of the price of the house) this is a steal! Like I mentioned earlier, the final down payment is being collected in your rent that it makes it effortless to save for the down payment. For example, if the rent is $1800 a month, roughly $200 to $400 is saved for the future down payment. It’s an easier way to save!

Another pro of this program would be the market price of the home being the same. Let’s say that the agreed upon purchase of the house at the beginning of the lease is $280,000, this will be the same price at the end of the lease. This will save you in times where the market may go up due to a market upswing, your contract will still be at $280,000, but the value could be much more! You will not have to pay for the increase in value, just what