Archives for Buyers

The 3 Most Common Reasons a Home Inspection Kills a Deal

The 3 Most Common Reasons a Home Inspection Kills a Deal

December 28, 2015 | Comments Off on The 3 Most Common Reasons a Home Inspection Kills a Deal

  In this Redfin.com post, home inspector Dylan Chalk underscores the importance of a home inspection by identifying how they can prevent a potential sale.  The most common reason is the home is not what it appears to be, especially in the case of a “flipped home”, one purchased and updated with the intention of making as much profit as possible.  The inspection reveals there are more repairs and updates than the buyer expected.  Problems with the core systems of a “fixer” house (foundation, frame, roofline, floor plan, drainage and access) add cost and complexity to the new homeowner’s projected
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Is It Time to Downsize? Ask Yourself These 4 Questions First

Is It Time to Downsize? Ask Yourself These 4 Questions First

December 24, 2015 | Comments Off on Is It Time to Downsize? Ask Yourself These 4 Questions First

  If you’ve reached the time of life where you are contemplating downsizing your home, the first question to ask, according to this Realto.com post, is what kind of lifestyle do you want after downsizing? By defining how you want to live, you can narrow your search and focus on housing that will meet those requirements.   For example, if you want to escape the bluster of winter and relax on a beach, local climate conditions and geography will drive your hunt. Or, if you like social activities, you would seek active adult communities where you can interact with like-minded
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What’s the best property type for your first home?

What’s the best property type for your first home?

December 23, 2015 | Comments Off on What’s the best property type for your first home?

  Inexperience can cause first time home buyers to be confused by the multitude of available options. This post by Caroline James is an excellent introduction to the advantages and disadvantages of five popular property choices: a large detached house on a suburban block, a small home on a sub-divided lot, a townhouse, an apartment in a small block and an apartment in a high rise block. To read more click here. The post What’s the best property type for your first home? appeared first on Team Realty. Source: Blog
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Canadian Home Prices Are Growing At One Of The Fastest Paces In The World

Canadian Home Prices Are Growing At One Of The Fastest Paces In The World

December 20, 2015 | Comments Off on Canadian Home Prices Are Growing At One Of The Fastest Paces In The World

  The Canadian real estate market continues to boom, according to this Financial Post offering.  With a year-over-year increase of 8.2%, Canada ranked 4th of the 23 countries studied in Scotiabank’s report Global Real Estate Trends, behind Ireland (13.3%), Sweden (10.5%) and Australia (8.3%).  However, the report warns the trend could change if economic uncertainty and high unemployment counterbalance the attraction of low borrowing costs.  To read more click here. The post Canadian Home Prices Are Growing At One Of The Fastest Paces In The World appeared first on Team Realty. Source: Blog
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Unchecked Emotions Can Cause Costly Property Mistakes

Unchecked Emotions Can Cause Costly Property Mistakes

December 18, 2015 | Comments Off on Unchecked Emotions Can Cause Costly Property Mistakes

  We are sometimes enthralled by the presentation of a property, but ignoring the things we cannot see or overlooking obvious problems and risks can lead to disastrous consequences. To the extent possible, put your emotions aside and make buying property a business decision based facts and data.   Getting Too Attached To A Property   Impulse decisions in real estate can cost major dollars and can have life altering effects. If you fall in love with a house, you may be tempted to waive conditions or pay more than planned in the rush to close the deal. The problem is,
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The Number of Real Estate Appraisers Is Falling. Here’s Why You Should Care

The Number of Real Estate Appraisers Is Falling. Here’s Why You Should Care

December 17, 2015 | Comments Off on The Number of Real Estate Appraisers Is Falling. Here’s Why You Should Care

  According to this realtor.com post, the number of real estate appraisers is dropping to the point where parties on both sides of real estate transactions could suffer. Since most residential mortgages need an appraisal before a sale closes, a shortage of appraisers will affect buyers, who rely on accurate valuations to structure their offer, and sellers, who can lose a deal if appraisals come in low.   The Appraisal Institute notes the number of appraisers has dropped 20% since 2007 and predicts a 3% annual decline for the next decade. Fewer appraisers means longer waits, which could delay a closing. That
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5 must-do’s for first-time home buyers

5 must-do’s for first-time home buyers

December 15, 2015 | Comments Off on 5 must-do’s for first-time home buyers

  This homeownership.ca article by real estate lawyer Mark Weisleder gives the essentials for the novice buyer.  Start by calculating what you can afford (general rule is 30% of gross income).  Then, figure out what is important to you and search for properties with those features.  Ask the seller about flooding, leaks, mould, insurance claims and neighbourhood problems.  Pay for a thorough home inspection by a qualified inspector and buy an after-sale warranty.  To read more click here. The post 5 must-do’s for first-time home buyers appeared first on Team Realty. Source: Blog
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Underwriting insights! What Every Homebuyer Should Know Before Applying for a Mortgage

Underwriting insights! What Every Homebuyer Should Know Before Applying for a Mortgage

December 6, 2015 | Comments Off on Underwriting insights! What Every Homebuyer Should Know Before Applying for a Mortgage

  This homeownership.ca post tells why an understanding of underwriting is a key advantage for home buyers seeking a mortgage.  Work with a mortgage professional to get pre-approved for a mortgage so you know your price range and can make an offer instantly.  The pre-approval process determines the size of mortgage and type of home you can afford.  You will need to assemble your credit report and other documentation (financial and employment history, creditworthiness, income) the lender or mortgage insurer needs to process the application.  The documentation required varies depending on individual circumstances.  For example, self-employed applicants should be prepared
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Ottawa Real Estate Update: November 2015

Ottawa Real Estate Update: November 2015

December 3, 2015 | Comments Off on Ottawa Real Estate Update: November 2015

Mild weather and post-election enthusiasm spurs on home buyers!   Statistics are useful in establishing trends but should not be used as an indicator of an increase or decrease in value of specific properties. If you are curious about the value of your home and/or specific neighbourhood statistics we would love to help. Contact us.         Information below provided by the Ottawa Real Estate Board December 3rd, 2015 Members of the Ottawa Real Estate Board sold 990 residential properties in November through the Board’s Multiple Listing Service® System, compared with 891 in November 2014, an increase of
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Not Only Millennials Want Walkable Communities

Not Only Millennials Want Walkable Communities

December 3, 2015 | Comments Off on Not Only Millennials Want Walkable Communities

  A walkable community is well-planned, compact and designed for people to walk to work, school, parks restaurants and activities as a form of everyday transportation.  According to a National Association of Realtors survey, more and more buyers want to live in walkable communities.  The study found that fully 12% more Millennials, the generation born between the mid 1980′s and early 2000′s, would rather walk to their destination than drive.  But, fitness enthusiasts and eco-friendly individuals also desire walkable neighbourhoods.   Aging In Place   Older Canadians want neighbourhoods that better fit their changing requirements.  As baby boomers enter their retirement years,
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