4 Home Strategies Believed to Increase Luck and Fortune at Home

While success in real estate depends on many factors, including choosing the right real estate agent, the current market conditions and the condition and location of the property itself, there’s a few tricks that property owners can use to boost their luck!

People have been looking for divine intervention with their real estate transactions and properties for centuries, turning to everything from crystals to Catholic saints! Some of these methods involve buying and selling a piece of real estate while other luck-enhancing techniques aim to improve the luck of the occupants of a home.

In the spirit of the lucky Irish four-leaf clover, here’s four ideas you can use to help create your own luck with your real estate investment!

Designing and…

4707 Views, 0 Comments

Things to Consider When Buying And Selling A House At The Same Time

There are certainly several things to consider when buying and selling a house at the same time.

The process of buying a house can be difficult and stressful. Tons of research is required in terms of the location you want to live in as well as the local real estate market. Then you’ll need to go house hunting in order to find properties that are for sale, not to mention find houses that you actually like. It can be an overwhelming process.

The same can be said about selling the house you’re currently living in. You’ll need to make repairs, invest in upgrades to help boost its value, stage your home, hold open houses and more. Like buying a home, selling a home can prove to be quite a challenge. With this in mind, you’re probably wondering how the…

1798 Views, 0 Comments

Unlicensed foreign agents leverage lax regulation to sell B.C. real estate

They’ll arrange showings, set up negotiations with the seller’s agent, and even pick you up from the airport.

It’s the kind of pitch a real estate agent might make.

But no – this is the work of an unlicensed foreign agent working in B.C.

The man on the phone is cheery and confident, with the practised ease of someone accustomed to calming anxiety.

There is no need to worry, he says. Buying a home in Vancouver is simple. His company will dispatch people to the airport, then guide an inexperienced buyer through the entire process. No other company will be involved, he promises. “If you go to look at a house, our headquarters staff will take care of you,” he says.

His colleagues will come every day to arrange showings and, when a suitable home…

2401 Views, 0 Comments

6 Rules for Protecting Yourself When Buying Outside of Canada

Often, during the winter, the weather seems to freeze the logic portion of some people’s brains as they head south to thaw their bodies. (Sorry, if that is a little harsh, but sadly it’s true). Given that winter weather comes to this country at different times, I thought this was a great time to start thinking about it. We land in these little warm retreats and begin to fantasize about “owning a piece of paradise.” That is when the justifications begin and as we all know humans can find a way to justify anything they really want in their life.

Canadians Have Targets on Their Backs

Sales teams know Canadians begin to make desperate decisions as winter closes in and feels like it may never end. Sure, a piece of tropical or recreational paradise may…

2004 Views, 0 Comments

Mortgage rules: What do the changes mean?

There are new changes that are going into effect this month surrounding Mortgage Guidelines in Canada.

A major shift in mortgage rules announced by the federal government this week will drive up rates for consumers and cut competition in the lending sector, say some in the industry.

The Liberal government has announced sweeping changes aimed at ensuring Canadians aren’t taking on bigger mortgages than they can afford in an era of historically low interest rates.

Mortgage expert Robert McLister says Ottawa is cracking the housing market with a “sledgehammer.”

He predicts consumers will bear the brunt of the blow and that housing prices will tumble because a “sizable minority” of first-time and high-ratio buyers will no longer qualify for the…

5929 Views, 0 Comments

Who Pays for What When Buying a Home?

Buying a piece of property is not a simple transaction, and buyers are often surprised by the number of parties involved, who of course, all need to be paid. 

But how is it determined who pays for what?  What is a seller expense and what is paid by the buyer? 

Inspections and Reports

It is generally up to the buyer to pay for a general home inspection and any other more specialized inspections such a roof, plumbing, or electrical inspection. If there is a well or septic system on the property it is generally up to the buyer to have those systems inspected and and to do a water test.  On a large property the buyer may also want a survey that marks the corners of the lot.  This may or may not be paid by the seller.  The allocation of costs for…

3577 Views, 0 Comments

When is a house new - but it really isn't

When a Seller decides to move, the house isn’t new anymore; but to a new Buyer, the house is new.

Expectations can be different, depending on who’s the Buyer; and who’s the Seller. So how does this work in practice? Most Buyers and Sellers are cooperative, but there can be some who are more of a challenge than others. A lot of the buying/selling experience can be traced back to the attitude of the buyers and sellers. For example:

FROM THE BUYER’S PERSPECTIVE WITH A POSITIVE ATTITUDE

• The Buyer is moving to a new location.
• The Buyer may be a new/first-time Home Buyer.
• The Buyer will tell everyone he/she bought a new house.
• To the Buyer, the experience of buying a home is new.

FROM THE SELLER’S PERSPECTIVE WITH A NEGATIVE…

2576 Views, 0 Comments

Frequently Used Real Estate Terms

Frequently Used Real Estate Terms

If you are new to real estate and hear terms and phrases that you are not quite sure on their meaning why not bookmark this page and get your real estate terms explained.

Acceleration Clause

The acceleration clause in a mortgage contract states that the entire balance of the debt is due and payable in full should the mortgagee default on the mortgage.

Acquisition Cost

The acquisition cost combines the purchase price with the estimated closing costs of the home.

Adjustable Rate Mortgage

An adjustable rate mortgage is also referred to as an ARM. This type of mortgage includes a lower initial rate of interest that changes after a predetermined time has passed and it is adjusted periodically. At that…

1768 Views, 0 Comments

Do all home improvements make financial sense?

Not all home improvements make financial sense.

I hear questions from prospective sellers all the time regarding home improvements and will they add value to the home. A common question is "I am worried that my home improvements are not going to pay off at all when I sell my house. Do all home improvements make financial sense?"

Not all home improvements make financial sense. Some homeowners make improvements because they want a particular feature or “feel, ” without regard to the cost. Be leery of articles in popular magazines that imply these improvements are an automatic financial benefit. Lists of the percentage gains on individual components, like a bathroom or kitchen remodel, are common. Every home must stand on its own two feet, not…

1721 Views, 0 Comments

Getting a divorce? Think about the house

Getting a divorce is tough enough, but having to sort out the house and finances can seem like a daunting process.

Here’s a few tips on how to minimize your frustration, and financial exposure, during a divorce.

In era where almost half of marriages end in divorce we all must try to acknowledge that divorce and property is a messy business. The best solution is, obviously, not to get divorced. But if separation is imminent in your life you may be curious as to how a family break up with impact the marital home.

There are three basic scenarios as to what can happen to your marital home.

Sole possession. This is when one partner opts to buy out the other partner. Often a paid appraisal is conducted, which provides a current or fair market value…

1613 Views, 0 Comments