Sometimes, We need to check our facts and perspective from time to time.
I always thought that people would finance with the shortest and lowest interest rate possible.
68 per cent of mortgage holders have fixed rate mortgages, while 27 per cent have variable and adjustable rate mortgages. Fixed rate mortgages are the most popular among people between the ages 18 and 34, while those in the 55+ age group are more likely to prefer variable rate mortgages
Rather a surprising statistic given that most of the first time buyers are consumed with obtaining the lowest interest rate. I made a quick couple of calls to recent buyers and they all confirmed they had selected the fixed rate program.
Garth Turner of the Greater Fool fame is oft mentioning the highly leveraged and Real Estate Bubble that is bursting in Canadian housing market;
Average amount of equity Canadians holding a mortgage have in their home is $142,000, representing 52 per cent of the value of their homes. Approximately one third of homeowners do not hold a mortgage and have an average $322,000 of equity in their homes. Overall, Canadian homeowners have 74 per cent equity in their homes.
What a vast difference to the Media reports of the over extended over financed Canadian Mortgage market. Last week I found a complete article on the collusion on the part of CMHC to induce borrowers to maintain and increase mortgage debt. The article went on to say that CMHC was causing the price increases because of the borrowing specials.
You are welcome to read the entire article from the source. Click here
Please feel free to add your comments or observations.
The post that I found from Mike Bowler is right on point; we are entering an entirely new and uncharted paradigm for business. The tried and proven models of Yellow Page advertising are being replaced with Google search engines and Bing algorythms. How are you being found online when people Google you. Here what shows when you google me.
Practitioners need to be proficient in Blogging, social media, search engine marketing, and how to work with the e-consumer once they contact you.Using savvy marketing techniques may generate leads for agents, however with no skills in permission marketing and inbound marketing, you will be lost. Nearly 90% of the home buyers are searching homes on the Internet prior to ever contacting an agent.Are they finding you, when they go to Google, Yahoo or MSN?
Consumers drive the industry and have always driven it, however today they are looking online first.Technology, combined with local knowledge and input educates consumers. You’re not going to do that sending junk mail, holding seminars, running ads, or interrupting consumers with phone calls, emails or newsletters. You MUST be proactive by providing great content online with Blogs, podcasts, videos, and webinars that allow the homebuyer or seller to find you. http://www.mikebowler.net/?p=654
We need to know that we are all different. Give me a call and we'll talk about it.
We need to form entirely new social and networking circles so that permission based marketing will allow [clients] turned friends to introduce you to their friends and help them buy their home.
Be confidant when sending your friends to Toronto they will be looked after.
It was my pleasure recently to meet a new [to me] mortgage professional. Being from a Commercial Lending background I am somewhat more aware than most agents of different financial programs and policies of Lenders. I came across Peter Majthenyi who is a Mortgage Broker with Mortgage Architects.
Our conversation touched on many different issues related to today's turbulent mortgage market, rampant fraud, buyers overheated bids, inflated market evaluations, but most striking contrast was Peter's personal commitment to the mortgage business and his service attitude towards clients. The business has purchased a commercial condominium unit [storefront] at the Loggia Residencial Condo complex at the foot of Islington and The Queensway in Etobicoke.
Peter believes [as I do] that this neighbourhood of South Central Etobicoke has many amenities that will continue to draw business owners and families alike. The proximity to downtown Toronto, via the Gardiner in just 12 minutes, makes one understand why the Condos at iLofts, California and the Humber Bay Shore are in such strong demand.
The conversation turned to Commercial Condominium Units, a very neglected and understated business. Units that are at or near 1,000 square feet are almost non existent within the city core unless you are able to move to the outskirts of the 905 in Vaughn or Mississauga. Business owners have long known that controlling expenses is critical to the survival of the business so what better, then to purchase a condo and be your own tenant.
Guaranteed Return on Investment
Annual Growth in Equity
Known Tenant
No Collection Problems
Peter Majthenyi can be contacted at 416 236 9300 for all your mortgage needs. Check their web presence at http://theMortgagePlanner.ca. The storefront Location is 1026 The Queensway, Etobicoke. Islington at QEW. Make a point to have a look. The Mortgage Architects
I was genuinely shocked today when I found that reference online to my youtube.com/dpylyp channel. What possible content could I have that is real estate, mortgaging, local to Etobicoke, concentrates on the Humber Bay Shore waterfront possibly be offensive.
OH.... someone attached a note that my video's contain pornography or are offensive.
My ears turned red. I was furious. Then I thought about it. Who ever you are who thought you could damage or sully my reputation, Let me say again thank you.
You have increased the potential for viewers to find my real estate videos!
The following content has been identified by the YouTube community as being potentially offensive ....dpylyp subscribed to batonrougeappraiser (4 days ago) ...
www.youtube.com/user/dpylyp - Cached - Similar
30 Oct 2009 ... Lets use the technology to our advantage. David Pylyp http://DavidPylyp.com http://Youtube.com/dpylyp http://twitter.com/davidpylyp ...
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Toronto Realtor, Vocal about life in TO, website seo student, Blogger, Fair cook and dishwasher, Youtube/dpylyp Building Friendships, How can I help you? ...
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As you had asked; my video's can all be found online at http://youtube.com/dpylyp or at youtube.com and searching David Pylyp. Seo Coaching and Website ...
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3 Apr 2009 ... I have been trying to connect with topical video's hosted on http://youtube.com/dpylyp. I wish you continued success. David Pylyp Toronto ...
www.therealestatebloggers.com/.../selling-your-home-using-twitter/ - Cached - Similar
Free clip from dpylyp on YouTube. Nov 30, 2008 1:13. Are you falling behind on your mortgage? Get people involved who can help you solve these problems. ...
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DavidPylyp: Oh How I want to be a video phenom! http://youtube.com/dpylyp If I took up pole dancing with @aradiaOakville Would more people notice me? ...
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Added: 3 months ago by dpylyp. Duration time: 1:23 | Views: 496 | Comments: 0 ...Youtube's TrickyRicky77 teaches Phil McCracken how to do impersonations. ...
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dpylyp has updated his twitter: Found this cool free YouTube tool from @LonNaylor puts videos on blogs and webpages! www.screencastprofits.com/youtube...
www.blogcatalog.com/topic/cool+youtube+videos/ - Cached - Similar
Have a look at few videos, Rate them, Add a few stars please, make a comment or add a topic you would like to see addressed. My clients come from all walks of life, from many different countries and cultures and I try to embrace everyone.
I am here to answer your questions. Lets talk about serious issues. Buying before the new HST kicks in. Buying before there are interest rate increases and locking you in. Maybe Curing a few credit problems and buying.
Whats the theme here?
Buying a place for you. Talk is cheap. I will listen to what you want.
So, You went to the bank. Met with the person across the desk. They told you that the RANGE or Beacon Score that is related to your Credit Record is too low for the money that you want to borrow. You feel that you want to afford that pretty house that your wife wants.
You want to make you family happy, but.....
Your Credit sucks huh
Maybe you just missed a few payments, Often its a forgotten item when you moved. A missed deposit. In any event, rather than being turned down we can have our people look at this for you and straighten a few things out.
It may take a few months, or restructuring your debt to reduce your monthly payments, but if you do nothing, nothing will change. You need to be proactive. We can fix this.
There are people that will sit and expain step by step what needs to be done to repair your credit. It is not as overwhelming as it seems.
Give me a call at 647 218 2414 and lets Go shopping for your new place to live!.
Predictions were that we would hit almost 8,000 sales for the month. October 2009 ended up being the highest October in history for number of sales reported to TREB with 8,463 sales.
Available homes and Condos, inventory levels are continuing to fall. As of October 31st there were only 14,404 homes for sale.
Details are available at http://Davidpylyp.com
To put things into perspective, there were 64% more sales this October than in October 2008 and there are currently 47% fewer homes for sale than there were in Oct last year. The numbers show a hotter market than even those spiralling years from 2004 to 2007. To take advantage of this market as a buyer is a little harder to answer.
How to take advantage as a seller is obvious, Stage, Price it well and Hold offers back for 5 days. This multiple offer bidding will continue well past the first snows of December and probably into the new year
The first time I heard it, I was a touch shocked. Did I miss something? Was it slang? Could I have missed their intended comment.
Real Estate has many acronyms that we need to learn. The most common it seems is furnace which regularly is referred to as GB & E [gas burner and equipment]. One that seems to have retired is SS&SD, Storms, screens & storm doors. No one seems to mention the myriad of extra outside windows that are bolted, screwed and wedged in to protect us from a Canadian winter. You must have seen Mortgaging that is TAC [Treat as Clear] . Sometimes it will say PTA [Purchaser to Arrange New Financing].
Another often asked category is the closing date with TBA [to be arranged] an as yet undecided or uncommitted closing date. The Listing forms list New, PC [Price Change] and the ever confusing SC. [status change] This means that the property has moved to be under contract but is not sold until the conditions are fulfilled or satisfied, they have financing or inspection contingencies to conclude. The specific conditions are available if you ask the brokerage.
Far from our friends to the South, Closing costs here are always paid for by the buyer. Rebates apply for First Time Buyers that max out at $5725 if you Miller and LTT together. Try the online calculator.
Have you worked out the FU withP? Fixer Upper with Potential. This house is a definite FU with P. I'm still LOL about that or has text speak already aged me?
Are there a few that you would like explained? Lets try. Add your own here.
Lets Get Multiple offers on that property now! If we reduce the price to an absurd level, surely the Buyers will come out in droves and bid with wild frenzy.
What will happen? Yes the OPEN HOUSES will be absolute traffic stoppers! Yes HUNDREDS of people will come out for the carnival atmosphere that has been created.
Lets take some brand new homes on a busier feeder street in West Toronto and add a frenzy of home shoppers in the hottest propertunity we have had in Toronto Real Estate since 1988.
While reducing the asking price to below the expectation will bring additional attention from shoppers and create a bidding war for your property; Taking listings and placing them on the market at 25% of the intended sales value seems to bring out different reactions.
How would you feel about the advertised price not being available. The owner is not required to sell you the advertised item. YUP Read that again. How would you feel in the middle of 300 other families looking at each other and the same house?
You can achieve a Top ranking for Google or Bing, When you decide what your Key word focus will be. My focus has been; Homes west Toronto.
You need to blog about everything [your town] Issues for seniors, Assistance from Local State/Province Government for Home owners, All heat; energy; water credits available. Blog about the local sports teams. Get their team Photo's on your site and blogs. Name the photo when you upload [Town, Localism, Topic, Key word]
This will also be on your site as a resource and blogged about as a topic. This provides the Localism as community.
Remember Site content is king. Everything about your community.
What do internet shoppers want To look at listings! Let them!
Back link Back link Back link To those that are free; todays PR0 may be tomorrows PR5 Register on every directory you can find. Google Free real estate directories.
Use the Ning networks, Social Media of Facebook and Twitter to promote your web pages and greet new people Create relationships on line. Form local tweet ups.
Craigs, Kijiji oodle, There are literally hundreds of sites to replicate your ads. When advertising on line; Place listing ads for the inventory you have all with strategic titles - What - where [neighbourhood key words] Place service ads for localism, market evaluations, relocation to [locality]
When you have enough they will seem to aggregate seemingly as if by magic.
Have a look around my sites and blogs. Help yourself and lets Share a few idea's. Don't steal it! (You can, But its Canadian and Hyperlinked to me) Make it your own by changing it and taking it local, to you!
Add a few comments on the blogs. Comment on Newspaper and internet articles (with Backlinks to your site) How does that new business in town rate.. How was that restaurant.. Do they want to advertise on your website? Gain an advocate for yourself.
Become a voice on local and specialized forums with a signature that creates back link activity to your site or blogs.
Give people a reason to come back and look at your site again. Give them an opportunity to sign up. That will create a lead for you to market and send email to. The internet is a free and open terrain to involve a new generation. We need to embrace it.
Everyone asks about PAID Adwords. Hey I tried, If you can afford it, Go for it. If you get "them" to your site and there is nothing to read or sign up for...what have you gained? So you still need content and localism for credibility and return readership.
Get a real estate website coach to help you through the growing pains. Not to do the work, to help you learn the creative process, so that you can instruct your staff or employee to create that market personna that will help you! Google reads computer code not Flashy thingys on your website.
Eat the elephant [Google] one bite at a time. I am pleased with an extra 4 or 5 fresh faces that put up their hands and say yes I would like to Buy a house in Toronto.
News, views, rants and commentary about Toronto west Real Estate issues and Local Community events from David Pylyp.
Experience is not expensive... It is Priceless!
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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