Noncom

12/19/2019

Oh i love this caller. But a plane? That's too much. Give them a rubber duckie and throw them into the sea.

This caller who lives on the Kent coast and sees migrants land weekly said they should all be "sent back immediately."

07/12/2013

Regression and Progression

In a neighborhood where home prices vary, the smaller, lower priced, homes will increase in value because of the larger, higher priced homes. The more expensive homes raise the property value of the less expensive homes. This idea is called the principle of "progression".

On the other hand, the larger, more expensive homes 'go down in value' because of the smaller, less expensive homes. These higher priced homes will not literally depreciate in value because of the other homes. After all, real estate almost always goes up steadily in price. The more expensive homes in the neighborhood will still appreciate, but their prices will not go up at the same rate as if the homes were separate from the others. This idea that lower priced homes bring down the value of higher priced ones is called the principle of "regression".

07/05/2013

Pay 0% Commission!

The days of paying thousands of dollars in commission for professional real estate services are over. We help you sell your own property without paying commission.

07/04/2013

FOR A LIMITED TIME ONLY, RECEIVE 50% OFF THE
"NONCOM" PACKAGE

Get all the service's of the "NONCOM" Package and have your listing posted on MLS® for one low cost.

Your listing could be viewed by over 98,000 real estate agents in Canada and thousands of potential buyers searching for a home.

NONCOM PACKAGE + MLS®

$1394

What a Savings!

LIST, SELL & SAVE!

Limited time offer. Taxes not included.
Certain conditions apply call for details.
This offer can be terminated at anytime whatsoever without prior notice.

07/01/2013

Mortgage Definitions

When shopping for your home, it's a good idea to familiarize yourself with the terms used when searching for a mortgage. Understanding all important mortgage terms, will help consumer make educated choices about their mortgage, without going into too much debt.

Market Value

The highest price that a property will sell for on the market. To sum it up, market value is what a Buyer is willing to pay for your home and the lowest price a Seller would accept on a property. When you are considering buying or selling a home, it is important to learn the property's true market value. This value provides a realistic guideline for what you can expect to receive or pay in the transaction. Although this figure is helpful, many factors contribute to its calculation, and ultimately the final selling price is determined by what you or someone else is willing to pay.

Conventional Mortgage

Is a mortgage that does not exceed 80% of the purchase price. Mortgage loan Insurance is not required on conventional mortgages. Mortgages that exceed this limit must be insured. Conventional mortgages may be fixed-rate or adjustable-rate mortgages.

High-Ratio Mortgage

Is a conventional mortgage which exceeds 80% of the purchase price. This type of mortgage will require the buyer to insure the loan by obtaining CHMC Mortgage Loan Insurance or Genworth Financial Canada. Depending on how much you put down, the amount can be an additional 1%-2.90% of the purchase price.

Assumable Mortgage

A mortgage that can be assumed by the Buyer when a home is sold. Usually, the borrower must "qualify" in order to assume the loan. If interest rates have risen since the original mortgage was taken out by the Seller, the Buyer is the party that benefits the most from an assumable mortgage. The reason for this is that if interest rates rise, the cost of borrowing increases. Therefore, if the Buyer can take over the Seller's relatively lower-rate mortgage, the Buyer will save having to pay the higher current interest rate.

Bridge Loans

Not used much anymore, bridge loans are obtained by those who have not yet sold their previous property, but must close on a purchase property. The bridge loan becomes the source of their funds for the down payment. One reason for their fall from favor is that there are more and more second mortgage lenders now that will lend at a high loan to value. In addition, Sellers often prefer to accept offers from Buyers who have already sold their property.

Gross Debt Service (GDS)

This is calculated by adding together the annual payments for the mortgage principal, interest, realty taxes and heat plus 50% of the condo maintenance costs if applicable and then divided by the gross annual income of the buyer.

Total Debt Service (TDS)

This is calculated by taking the same annual payments for the mortgage principal, interest, realty taxes, heat and 50% of the maintenance costs and adding in any annual payments for loans, lines of credit, credit cards and other debts.

Closing Costs

Various expenses associated with purchasing a home. These costs can include, but are not limited to, legal/notary fees and disbursements, property land transfer taxes, as well as adjustments for prepaid property taxes or condominium common expenses, if any.

Term

The length of the current mortgage agreement. A mortgage may be amortized over a long period (such as 30 years) with a shorter term (six months to five years or more). After the term expires, the balance of the principal then owing on the mortgage can be repaid or a new mortgage agreement can be entered into at the then current interest rates.

Amortization

Is the number of years that it will take to pay off the loan. An amortization period could go up to 30 years. Part of the payments goes towards repaying the mortgage principal and the rest goes towards the loan interest.

Mortgage Payment Options

There are four typical mortgage payment options; monthly, the monthly payment is the most standard payment, and it simply means that you pay your mortgage once a month on one and the same day of the month; bi-weekly, a payment every second week on one and the same day; accelerated bi-weekly, paying every second week, you will make a total of 26 payments for the year; and accelerated weekly, with this payment plan you'll be making 52 payments a year, which again results in additional monthly payment for the year. Select one that is best suited for you.

Mortgage Pre-Approval

To pre-quality yourself for a mortgage and avoid being declined during the negotiating period. This is always conditional upon you providing the "satisfactory" proof of income, down payment and credit score to the lender.

A preapproval is not a binding commitment on either the applicant or lender, but rather an indication that the lender is ready, willing, and able to extend a mortgage to a mortgage applicant once a suitable property has been secured.

06/30/2013

Thinking of Buying a House? Do Your Homework First

Buying a home is probably the largest investment you can make. It is also said that home buying is one of the most stressful times of your life. Therefor, it's important to learn as much of the buying process as you can. Familiarize yourself with all the legal and financing requirements.

You will have many decisions to make, and just as many questions that need answering. To help simplify the process, we have compiled a wealth of information just for you. View our "Buyers" section and learn what you will need to know along the way.

We have tips, tools and resources that cover the entire real estate experience, from getting pre-approved for a mortgage all the way to negotiating an offer, closing the sale and moving into your new home.

Buyer's Beware!

While in general Buyers do not pay commission when buying a home listed with a real estate professional, we wouldn’t consider that the entire commission is money saved by the Buyer. As an example, if the home is valued at $300,000, the real estate commission would be $15,000, based on 5% (not including HST), which is usually paid by the Seller. This amount could be added to the value of the home by the real estate agent to compensate that cost at $315,00-$320,000. You might end up paying the commission yourself since the cost is built into the purchase price.

Therefore, if the asking price was $320,000 and you negotiated a deal of $315,000, you may think you got a bargain. In reality, you not only paid the $300,000 but also the $15,000 for commission. A private home seller can reduce their asking price of $300,000 by $5,000 or even $10,000 and still come out ahead. In fact, you both may come out ahead.

06/30/2013

Making an Offer
The Agreement of Purchase and Sale is the document that is used to state the Buyer’s desire to purchase the property, and to negotiate the terms of the sale. It is commonly referred to as an “Offer”. This document also allows the Buyer a chance to outline in detail all of the conditions they wish to be placed in their offer to buy the Seller’s property. Some common examples of a Buyer’s conditions include arranging financing (a mortgage) for the property to be purchased, completing a home inspection, or ensuring that the sale of their current home is completed before purchasing a new one.

The offer to purchase is a legal document and should be carefully prepared. You should take the time to review the Agreement of Purchase and Sale and familiarize yourself with the various clauses and terms.

We recommend that everyone seek and obtain professional advice to ensure a complete and accurate understanding of any form and not rely on the explanations contained herein. All questions regarding the offer to purchase should be forwarded to your real estate lawyer.



Preparing an Offer

In addition to your desired purchase price, conditions and possession date, your lawyer you will need the following information:

1. Name of Buyers
The names should be listed exactly as they'll want them to appear on the ownership document when the sale is complete.

2. Names of Sellers
Each person's name should be listed in full, exactly as shown on the existing ownership document

3. Deposit
Along with the offer, the Seller should collect a deposit to be held in trust until the buyer has satisfied themselves with the conditions mentioned in the agreement.

4. Chattels Included
A list of all additional items separate from the property that they wish to be included in their purchase. Examples to be listed here include appliances, window coverings and light fixtures. The Seller must agree with items included before signing the offer.

5. Fixtures Excluded
All items that are not included in the purchase price and items that are being rented. An example is a hot water tank that is being rented from a utility company. Care should taken to ensure that all the rental items are detailed here.

6. Irrevocable (Deadline) Date
The deadline that a person making an offer gives the other party to accept their offer. If the offer is not accepted by the stated time, then the offer is over and no longer binding on any of the parties in the transaction.



What Happens After You Make an Offer

An Agreement of Purchase and Sale is legally binding, ask your lawyer to review it before presenting it to the Seller. After presenting the offer to the Seller, there are three possible responses.

1. Offer is Accepted
The Seller accepts your offer and you now move on to the next steps in the buying process. In most cases, the Seller and Buyer will negotiate and agree on the price, terms and conditions of the offer before preparing it.

2. Offer is Rejected
The Seller makes a counter-offer asking for a higher price, or different terms. You reject the counter-offer because the price is too high, or you can't agree on the conditions.

3. Seller Counter-Offers
Seller makes a counter-offer asking for a higher price, or different terms. You can sign the offer back at a higher price than your original offer, but lower than the Seller's counter-offer. If the Seller accepts the counter-offer, the deal is concluded.



Conditions Fulfilled - SOLD

When the offer is accepted, it's up to the Buyer to fulfill the conditions within the appropriate time. In some cases, there may be conditions inserted by the Seller, for the Seller's benefit. Once the conditions are removed, the deal becomes firm and the home is officially sold. The lawyers will handle the rest of the closing process.

Congratulations! Start packing.

06/30/2013

We offer a variety of flat fee packages for selling your own property. You may choose any package of your choice based on your budget.

By using our service you will avoid the high costs of hiring a real estate agent. Since there is no commission to pay, this could add up to thousands in savings for you!

06/30/2013

Proper Pricing

We would like to see you get the highest possible price for your home. When you decide to sell your home, the price you set is a critical factor in the return you will receive. Your asking price should be based on several factors;

Market Conditions

The real estate market is always changing. It helps to understand how real estate market conditions can affect your position as a Buyer or a Seller; Buyer's Market, is when the supply of homes on the market exceeds the number of Buyer's, the demand; Seller's Market, is when the number of Buyers wanting homes exceeds the supply or the number of homes on the market; Balanced Market, is when the number of homes on the market is equal to the demand or number of Buyers.

Condition of Your Home

The condition of the property affects the price and speed of the sale. As prospective Buyers often make purchases based on emotion, optimizing the physical appearance of your home will maximize the Buyer’s perception of value. First impressions are the most important.

Repairs or Improvements

It's a fact; repairs can increase the value of your home. Selling as is can cost you more than the repairs; even minor improvements will yield as much as three to five times the repair cost at the time of sale. A professional will be able to point out which repairs could significantly increase the value of your home. Even seemingly small fix up jobs can have quite an impact on sale-ability and price.

Time Frame

In a "normal" real estate market, if a house doesn't sell within one to three months (30 to 90 days), the reason is simple: the price is too high. Even a perfect home will not sell within this time frame if the price is too high. Depending upon the local market activity, a house that sells within one to three months is priced at the true market value of the house.

There are potential dangers when it comes to pricing your home in any kind of real estate market. If you decide to price your home too high, several things could happen;

Limits Buyers

Proper pricing will attract a a lot more interest from Buyers. If you over price your home, potential Buyers will be less reluctant to view it, because it will be out of their price range.

Extended Stay on the Market

When a home is on the market too long, it may be perceived as defective by potential buyers. Buyers will wonder, "what is wrong with the house," or "why hasn't this house sold yet?".

Lower Price

If your house is sitting on the market too long because you have overpriced, it could eventually lead to a lower selling price. To sell it, you will have to reduce the price and probably end up getting less for it than if you had priced it right to begin with.

Wasted Time and Energy

The time and energy you have invested into trying to sell your home, would have gone to waste. Proper pricing from the start will ensure all your efforts have lead to a successful sell.

06/30/2013

Searching to Buy a Home?
Buying a home can be an emotional, time consuming and stressful process. Let us help you save time, money and the aggravation of searching. It costs you nothing.

Searching for a home?
Complete the following information to be put on a Prospect Search. The Prospect Search service will be arranged by a licensed real estate agent.

How does it work?
Receive listings daily directly into your e-mail of homes that match your criteria. The real estate agent will book the showings to view the homes you select.

It's simple, it's free and it works!

06/30/2013

In-House Consultation

Selling a house is a complicated process, no matter how good the real estate market is. Whether you’re a first-time home seller or not, you’ll probably have a bunch of questions. What’s “closing”? How much paperwork am I going to have to fill out? How can I get the best price for my house? How can I sell my house and buy a new one at the same time?

During the In-House Consultation the following points will be covered:

Discuss your situation and create a selling plan that is tailored to your needs
Preview of your property to determine what we should do to prepare it for sale
Review the market data and decide on the asking price
Discuss the necessary paperwork to place your house on the market

06/30/2013

Home Evaluation - Online via Email

Using the information that you provide in the form below, a Comparative Market Analysis (CMA) will be conducted by searching the database of all the homes listed or sold in your area. From this current market data, we will be able to determine what your home might sell for if you decided to put it on the market.

The Comparative Market Analysis (CMA) will be prepared by one of our licensed real estate agents and will include the following:

Properties that have sold and closed within the last 3 months
Active listings - properties currently for sale
Pending sales - listings that have sold but not yet closed
Expired listings - properties that did not sell during the listing period