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buying real estate: Is This House Haunted? Selling Stigmatized Properties - 04/06/10 04:13 PM
I once listed a house for sale in Collingwood where a suspected murder had taken place. I consulted with two lawyers about disclosure requirements and got two answers: one was to follow the instructions of my client and the second was more of a question: would want or need to know this and, then make my decision from there. I'll tell you what happened later. In an interesting seminar that I attended earlier this year, the instructor neatly categorized property stigmas into three categories: 1. Pure Stigma where a property has been psychologically impacted by a suspected or actual event such as (8 comments)
buying real estate: An Interview About the Competition Bureaus' Challenge of MLS® Rules - 03/08/10 04:30 PM
As many people know, the Competition Bureau has challenged the real estate industry's MLS® rules. I could say A LOT about what I think of this however, this clip does it much better and is well worth a listen if you are interested in the topic. It is an interview with a non-partisan, consumer and real estate investor whose comments mirror my own feelings. He also raises a number of very good points to ponder and clarifies many misconceptions that exist. It's a bit long at just over 16 minutes but explains the issue very well.
buying real estate: The Truth About Buying A Property Under Power of Sale - 05/18/09 11:57 AM
Real estate buyers have somehow been conditioned to think that buying a property listed under a power of sale arrangement represents an opportunity for a real deal. I've noticed some REALTORS® capitalizing on this belief by advertising special websites to find out about these listings and, I've seen REALTORS® advertising the power of sale status right in their property ads for a listing. The truth is, it does make the phone ring. But should it? While there are different remedies a lender can access when there is default on a mortgage loan, the most common one by far in Canada is (13 comments)
buying real estate: You Get The Keys To Your Home As Soon as the Deal Is Closed - 02/19/09 10:18 PM
I could write a book about closing day stories. Some that were perfect, some that were funny and some that were nightmares. I remember one situation where my buyer clients called me up at about 6:00 pm on the closing day saying, "Marg, we're in the driveway with our moving truck and it would appear someone is in the house watching TV." I went over right away and sure enough, the elderly couple who sold the house were relaxing in front of their TV set after having just enjoyed a nice dinner. It would appear that they got the closing date (5 comments)
buying real estate: Why Waiting To Buy A Home Could Cost You Thousands - 02/10/09 02:16 PM
Back about 18 months ago, I can clearly remember thinking that things would change in the real estate market. Fast sales, multiple offers, interest rates, home prices... they'd all change. After twenty years in the business, I've seen enough changing cycles of the market to know that nothing ever lasts. 18 months ago, buyers here in the Collingwood - Blue Mountain area were often frustrated because they had little time to think. When a suitable home came on the market, it would often sell before they could arrange to see it or before they could make an offer. They were often in (7 comments)
buying real estate: What’s In The Budget For the Housing Sector? - 01/28/09 05:59 PM
We all know by now that Tuesday (January 27th, 2009) was budget day here in Canada. As expected, there are proposed initiatives to stimulate the housing industry. That's a pretty good idea if you ask me. According to a study conducted by the Altus Group for the Canadian Real Estate Association, every residential real estate transaction in Canada generates over $32,000 in ancillary consumer spending and, creates almost 95,000 full-time direct jobs as a result of that activity. These numbers in themselves make real estate a strong economic driver in Canada. The budget recognizes that and, in a nutshell, here is (11 comments)
buying real estate: Buying A House with Aluminum Wiring - 01/12/09 10:32 AM
Do you have aluminum wiring in your home? This is an issue that comes up from time to time in home inspections and, it can be a concern for home buyers. Some home insurers will not insure a house with this type of wiring claiming it is a fire hazard. It is estimated that there are over 450,000 homes in Canada that are wired with aluminum wiring. It was commonly used from 1965 to 1977. But is it really a problem? According to most home inspectors I've talked to, the issue is not the wiring itself but rather, it is the (9 comments)
buying real estate: The Truth About The Present Market Trend - 01/05/09 07:14 PM
The boom is over. That's old news by now and the question is, how far will the market fall and for how long? While none of us knows the answer to that, it's important to monitor the trends closely. I've been reading lots of year-end wrap-ups of various different markets but, in my opinion, a full year is far too broad a time frame for monitoring emerging trends. For example, in our market, prices over the year fell around 2% but that does not take into account upticks early in the year and declines in the last quarter. So, because I'm (0 comments)
buying real estate: Is a Pre-Purchase Inspection a Good Idea? - 11/01/08 03:41 PM
I'm off for another pre-purchase inspection Monday morning for a deal set to close that day. Most people wonder what this is and if it is necessary. Most offers today include a clause in the Agreement of Purchase and Sale giving the buyer the right to one or two further inspections of the property following acceptance of the deal and prior to the closing. One of those usually takes place on the day of closing. The purpose is to ensure that the property is in essentially the same condition that it was when the buyer made the offer. If you read (4 comments)
buying real estate: Well, well… buying a rural property? - 10/19/08 03:35 PM
Many of the rural properties in South Georgian Bay get their water supply from wells, be they dug, drilled, bored or sand point wells. Whenever I list such a home for sale, I always take a water sample at the outset. Quite probably, any offer that comes in will include a buyers requirement for one or more water test results showing that the water is potable; that is, fit for human consumption. 19 years ago when I started in the business, it was rare to get bad results back. These days, it's very common and I often wonder if this is due (7 comments)
buying real estate: Power of Attorney and Selling Real Estate - 09/20/08 07:47 AM
Many years ago, my widowed mother executed two Power of Attorneys: one for personal care and one for property. It was one of the best things she could have done. Five years ago, my Mom had a debilitating stroke that left her partially paralyzed and unable to speak. As a result, her home had to be sold and I had to take over responsibility of all of her assets and personal care. This was easily possible because of the existing and valid Power of Attorneys; without them, the Public Guardian and Trustee for the Province would have stepped in and taken over (8 comments)
buying real estate: Buyer Beware When Buying a New Home - 09/15/08 05:00 PM
My first real estate advisor was my Dad. He used to say that when you buy a home, make sure it's one that "first your foes lived in, then your friends and then you." The idea was that a new house has deficiencies that can cause frustrations while subsequent owners add to and perfect a home. I admit these lessons coloured my viewpoint. While sometimes a new home is suitable for certain buyers, I generally think a resale home offers less risk and more benefit in most cases. A few years ago, I had a client who insisted on buying one (2 comments)
buying real estate: Did They Want To Overpay For That House? - 09/09/08 07:53 AM
A few months ago, I showed a house listed with another local real estate company. It was in surprisingly poor condition inside and I was surprised at the asking price. As is customary, I contacted the listing agent afterwards to provide feedback on my showing. I told the agent that I thought the house was seriously over-priced by at least $30,000 and interestingly, he agreed with me. He said his clients were not co-operative about reducing the price. (I always then wonder why this agent would even have taken the listing). Anyway, it languished on the market for over six months (4 comments)
buying real estate: Get Instant Access to Area Listings - 02/09/08 11:38 AM
Would you like to have instant access to MLS® listings of properties for sale in the Collingwood - Blue Mountain areas? Chances are that many of the people reading this will answer yes. Statistics show that most people who visit a real estate blog or website for the first time are mainly interested in one thing: information on area listings. If you are one of those people, then I have some good news for you. You can easily surf around MLS® listings on your own by visiting Canada's MLS® listing web portal at www.mls.ca or by visiting my website portal to area (2 comments)
buying real estate: Buyer Sues Agent Over Property Value - 02/07/08 02:05 PM
The New York Times ran an article a couple of weeks ago that reported on a lawsuit in the U.S. It appears that a person felt she had paid over the market value for her home so, she is now suing her real estate agent, saying it was his fault. From reading the article, I gather that basically, this lady and her hubby bought their million dollar+ home at the height of the real estate boom in California. After they moved in, they became more aware of property values in their new neighbourhood and subsequently felt that their agent had misrepresented the value of (5 comments)
buying real estate: What’s Hiding In The Attic? - 09/20/07 11:03 AM
I've been around in the real estate business for so long now that I can remember when home inspection companies didn't even exist (nor did we use fax machines once upon a time). Today, home inspections have become the norm for almost all home buyers and, in the words of Martha, that's a good thing! In the last decade or so, I've had literally hundreds of clients have home inspections and in every case but one, the client felt they got good value for their money. If nothing else, they have peace of mind and a detailed homeowners "to do" list (0 comments)
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.