Your credit score is used by most companies to see if you are a good credit risk or not. A credit score of over 680 is considered excellent.
What Can You Do to Improve Your Score?
1. Order a copy of your credit report from www.equifax.com or www.transunion.com to review it and make sure there are no errors.
2. Pay your bills on time.
3. If your credit history is questionable, open a few new accounts and use them responsibly.
4. Don’t open accounts and not use them. Having 6 or 7 of the same type of credit does not work in your favour.
5. Keep your balances low relative to your amount of credit available.
6. Pay off credit card debts!
What Does This Mean to Home Buyer’s?
The better your credit score the higher you buying power (income dependent as well). You will also qualify for the best mortgage products at the best rates.
To see what your credit score is and how much of a home you can afford, make sure to talk to your Real Estate Agent and Mortgage Broker before shopping for your Toronto Home.
Luxurious Eiffel Tower By Menkes. This Penthouse Has An Unobstructed And Quiet North View, 9 1/2 Foot Ceilings, Approx. 860 Square Feet, Bright Open Concept Kitchen And A Balcony. Walk To Shops, Restaurants, And Synagogues. Close To The Promenade And Centrepoint Malls. Gatehouse And Building Entry Security System. Transit @ Doorstep, Direct To Subway And York University. Close To 407.
When I meet with prospective sellers, one of the components of my presentation is the sellers net sheet. The seller net sheet simply anticipates the money you will receive from the home sale, once all fees and charges are settled.
The seller net sheet calculates your closing proceeds after you enter variables such as your mortgage payoff, sales price, sales commission, pending real estate taxes, and closing costs.
Why is this tool so important. First of all it show you, the seller, what costs are involved in selling their home. Not everyone realizes all the costs associated with selling a home. Secondly it shows whether there will be money left over at the end of the day. If not then a short sale would have to be negotiated if defaulting on a mortgage was likely.
Don’t put your home on the market without knowing where you stand.
To book a Free Market Evaluation of your Toronto Real Estate, give me a call at 416-518-8188.
When pricing a house it is best to compare apples with apples or the most similar homes in the area that have sold recently. Also be sure to look at expired listings (to see what does not work as far as price is concerned) and new inventory (your competition).
A great realtor will give you a range in which to consider pricing your home, leaving you the decision as to the actual list price. Keep in mind, that going above the range will likely result in an expired listing. A great agent will also not take a listing that know won’t sell. The realtor is the professional and knows their market, heed their advice for the most success. After all you want your home sold, that is the reason you called the Realtor, right?
To price your home right today and take advantage of the spring market, call me today 416-518-8188.
I was reading a blog post by Seth Godin the other day where he ask “where have all the agents gone”. His view of Realtors as a middleman is interesting. “Middlemen add value when they bring taste or judgment or trust to bear on a transaction that isn’t transparent.”
I could not agree with him more. The value a Real Estate Agent brings to a Real Estate Transaction is the trust and judgment they bring to the transaction. When selling your home you trust the agent Realtor with the largest single asset you will ever own in your lifetime. And their opinion on value and how best to market your home is where they bring value to the transaction. They are a neutral resource who is not emotionally attached to your home and this is key to achieving the goal of selling your home in the least amount of time, with the least amount of inconvenience for the highest possible price.
For a buyer, a Realtor can educate them on the home buying process which is so important for first time home buyers. They also can help you establish the price you should pay for the home (rather than what the asking price is).
What makes one agent more valueable to you than another? Well, as with everything in life some people do only the minimum required of them. I have never been one of those people. I go above and beyond and see myself as your Real Estate Consultant for life.
Seth Godin goes on to comment on how you some agents for example in the travel industry are paid directly by the traveller not the airline. They are the front man not a middle man. This idea scales well to Real Estate since the seller pays a fee (commission) to the listing agent and the buyers agent. I will not work with a seller who is unrealistic about the asking price for their home just for a commission cheque. I would rather work with a seller who see the value in my services and expertise. Once again we are back to trust. Someone who truly sees the value in a Real Estate Agent taking care of all aspects of the transcation will be receptive to paying for those services. Miami Realtors Enrique Garcia & Ines Hegedus-Garcia “We do not criticize those that don’t need our services and want to do it on their own – on the contrary, we give them credit for their willingness to take risk – but we give our undivided attention to those that trust us with their investments and value our services.”
Well we are half way through March break and now is the time to finish any home projects before getting your home listed for the busy spring market. There are lots of home buyers ramping up and ready to look at homes but their is a lack of quality listings for them to view.
After march break when everyone is back and thinking of where they want to move to this summer, you want to be there on the MLS listings for them to see your home. Call me to get listed today, 416-518-8188.
Your home listing has expired, and you may be feeling discouraged, confused, or frustrated. Sometimes a fresh perspective is in order. You have the opportunity to change the game plan, break the status quo, and start out with a clean slate and let my energy, creativity, and enthusiasm work for you.
Your home will have many new photographs taken and will be featured more than once on the TorontoSuburbs.ca website in addition to being featured with enhanced listing upgrades on a variety of sites. Naturally, it will be prominently displayed on both the office website, my own personal site, and my blog.
In addition, you will have the benefit of an experienced agent working for you. Your home will be visited by many of our agents, who will offer professional feedback, tips, and opinions on maximizing your home’s sales potential. Your home will be advertised in appropriate print and web media, as well as possibly being featured by some of our agents in their own personal marketing material.
When you hire me, you also hire the entire support system at Sutton Group-Admiral Realty, Inc. Your home has been on the market and expired – call the agent with DO diligence, determined to get your home sold for you.
Placing your home on the market and having it fail to sell can be a discouraging experience. If you are committed to moving on with your life, you can ensure that your first experience is nothing more than a speed bump. Pick up the phone right now to get your home back on the market today. Call 416-518-8188.
1 in 5 tenants in Ontario do. That is a lot of money to spend to have a roof over your head. Rents are very high right now because of lower vacany rates. A landlord knows he can charge more for rent because there are more tenants competing for the property.
If you have good credit may qualify for a mortgage and with the Real Estate market in Toronto becoming a strong buyer’s market, housing affordability is more attainable than it has been in the last few years.
So if you want to stop:
paying rent and
paying someone else’s mortgage
and build some equity of your own. Now is the time to make your move!
I was posed an interesting question by @puleen recently on Twitter. ”How is the condo market in Toronto for someone who is looking to move downtown? Any insight?”. First of all, for those of you not familiar with Twitter, it is a micro-blogging social media tool.
Now onto the important question, how is the condo market?
A picture paints a thousand words:
Condo Market Trends in Toronto 2005-2008
This chart shows that prices are still rising, we can discount the huge rise last year (Sept-Dec), which was inflated because of the Land Transfer Tax that was implemented in early 2008. There was a huge land-rush for higher priced properties to beat the extra tax that buyers would have to pay. On average the price of the condo you bought two years ago has definitely gone up from on average $288,708 in 2006 to $334,413 in 2008 still a respectable return of over 12%.
Condominiums are always a great way to build equity, since a lot of people new to Toronto buy condominiums, a lot of singles and new couples also enter the property market this way. A condominium with good square footage, 2 bedrooms and 2 bathrooms is always saleable.
To start looking at the many options available in the GTA for condominiums, give me call 416-518-8188 and we can meet to evaluate your needs and find buildings that work with your lifestyle.
Real Estate Investors, now is the time! There are many condominium projects on track for the GTA and now is a great time to buy them. With it harder for some people to attain mortgage financing, they are once again renting and with this increased demand there are fewer rental units available. The current vacancy rate is hovering around 2%. Some speculators may also find this helpful if they want to hold onto their units until the market gains again.
How can I help?
I can list your condominium on the MLS for sale or rent or both and we can see where the offer that is best for your situation comes from. For you to rent out your unit, remember you want to still be able to cover your costs (mortgage, condominium fees, and property taxes) and still draw in some rental income each month. Call me today (416.518.8188) and we can set up a time to meet and work through the numbers together.
Looking to buy a condominium as an ivestment, I can help you decide where you want to buy and how much you want to invest.
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