What Everybody Should Know About Mortgage Fraud - 02/29/12 05:18 AM
Mortgage fraud usually happens through misrepresenting information on a loan application. It’s often simple (although extremely important) details, such as overstating your income, or failing to disclose new debts.
Some people will pretend they’re living in a property that’s actually an investment. It may seem harmless, but the risks are higher for the lender, who would typically charge a higher interest rate.
Often there’s every intention to pay the loan back. However, the lender’s situation is more dangerous than they’ve been led to believe.
Then there’s fraud for profit
This can involve many parties, such as dodgy appraisers, and even loan representatives.
… (3 comments)

Home appraisal – what does it really mean? - 02/28/12 06:07 AM
The term ‘real estate’ has a very literal meaning. The key word being ‘real.’
Although the term is rather old and was coined from different sources, the universal modern meaning refers to real property in the form of buildings and/or land.
Since this ‘real’ property does exist and has value, homeowners – especially those with paid off mortgages – can borrow from a lender using the property as collateral.
Lenders however, won’t just accept your word of the property value and hand you the cash. This is when a home appraisal takes place.
A real estate appraisal helps to establish a … (0 comments)

High Security Deposits When Renting An Apartment - 02/27/12 09:07 AM
If you’re renting an apartment and looking for a new place, most likely you will be told that a security deposit is required in advance before you ever move into a new apartment. Many landlords now require a deposit equivalent to several months’ rent.
There are a few reasons why a new tenant will be expected to hand over a certified check on top of the first and last month’s rent. The first reason is obvious: not everyone is as considerate as you. Although you may be a person who pays the rent on time, maintains your apartment, and is a good neighbor, … (0 comments)

Protecting your biggest asset – things you should know about homeowner’s insurance - 02/26/12 05:47 AM
Having an insurance policy is one of those things you know you should have – but hope you never use.
Since your home will most likely be the single largest purchase you make in your lifetime, protecting your most valuable asset is just good common sense.
Your home is vulnerable to all sorts of disasters, both natural and man-made. Severe weather, flooding, and a worst-case scenario of a full-blown fire can damage or destroy your dream home in minutes.
Your best defense against suddenly finding yourself living with relatives or worse yet, homeless, is a good homeowner’s insurance policy to protect you and your family. … (0 comments)

Want To Sell Your Home? Here Are The 3 Biggest Seller Mistakes Ever! - 02/25/12 06:49 AM
Home sellers always have one main thing in common: the desire to sell their house for the highest price in the quickest time. But that’s not the only thing sellers have in common. Many sellers make the same mistakes when selling their homes. Here are the three biggest mistakes sellers make, and how you can avoid them when you decide to sell your home.
Setting The Price Too High
Sellers often overestimate the price of their house, and end up pricing themselves right out of the market. A price that is too high is one that is not reflective of both … (24 comments)

The Wish list – How it can work against you - 02/25/12 06:46 AM
When buying a house, most people have some kind of idea of what they would like to have in their new place.
Maybe a two car garage, a patio with swimming pool, or maybe a fully updated kitchen with new appliances and cabinets.
Of course all homebuyers are different in what they want.
Real estate experts say you should put together a ‘wish list’ of what you are looking for when buying a house, in order to give a real estate agent an idea of properties that they feel you might be interested in.
But that ‘wish list’ can also work against … (0 comments)

Which State Ranked Highest for Foreclosures in 2011? - 02/23/12 06:11 AM
The housing gamble didn’t pay off for 32,066 homeowners in Nevada. The state suffered the highest percentage of foreclosures in 2011, with 1/35 mortgages going bust.
Close behind are Arizona and California. 11 of the 20 cities with the highest foreclosure rate were in The Golden State. A mammoth 168,543 homes were lost in 2011. Have you noticed a trend? Why are they all Southwestern states?
Some believe the southwest has been overvalued for too long, and by a far higher margin than the rest of America. Then combine this with the poor mortgage packages that drew people into higher priced housing.
Another … (3 comments)

Is It The Right Time To Buy A Second Home? - 02/22/12 06:27 AM
One thing you can be sure of now is low interest rates. On average, a 15-year mortgage is just 3.78 %.
Also, RE/MAX chairman Dave Liniger predicts 2012 prices will stabilize, then rise again. Are you lucky enough to have some extra money?
Well remember, just because the market’s down, doesn’t mean you can pick a house and know it’s a good deal. Before you buy a home, think for a moment, ‘why on earth would anybody want to sell?’ Finding a motivated seller is a huge step to getting your dream deal.
Does the seller know of an oil rich area, … (1 comments)

3 Hints to Selling Your Home Emotion Free - 02/21/12 06:23 AM
Most don’t realize it until the time comes. Selling your home is an incredibly emotional experience.
Suddenly strangers are poking around the closets that your children would hide in…
They’re deciding which wall to knock down…
They’re criticizing your beloved kitchen. How dare they?!
Worst of all, they’re hagglers, grinding your price down to the absolute limit.
But selling your home is a time of business. Being too attached will leave you feeling empty. It can even lead you to make bad decisions. So how can you keep a level head during this tough time? Here are some ideas…
1) Remove the emotion … (2 comments)

5 Overused Items In Home Staging - 02/20/12 05:14 AM
Staging a home is vital to making the home attractive to prospective buyers. But staging a home can often take on a life of its own. Here are 5 items that are commonly overused in home staging.
1. His and Hers Home Staging Decorations
This could be anything from towels to coat hooks to umbrellas. It doesn’t matter. His and hers motifs can be good in certain situations (like marketing a condo to a young couple), but for the most part, it comes off as an unlikely and obvious home staging stunt.
 
2. Art Books
You will often find art books piled onto every … (3 comments)

5 Reasons Not To Do A For Sale By Owner Or FSBO - 02/18/12 07:57 AM
When selling a home, homeowners are often attracted to the idea of doing a for sale by owner (FSBO) because of the money they think they will save on commission.  However, there are many good reasons not to pursue a FSBO.
1. Inexperience
Inexperienced negotiators can quickly find themselves in hot water when issues such as concessions, price negotiations, and warranties come up between the seller and buyer. Delays or uncertainties can cause buyers to walk away from a deal. A qualified agent has the experience to handle all the delicate nuances of negotiations between buyers and sellers. This is one area where … (2 comments)

Buying A House? 5 Things To Do When You First Move In - 02/17/12 09:08 AM
Buying a house is an exciting experience and moving into it a busy time – boxes to unpack, friends to notify, and finding your coffee maker. But in all that excitement, there are a few important items to take care of. When you move into a new home, make sure you do these things first.
1. First thing to do after buying a house is change the locks
The truth is you can’t be certain that the keys you have in hand are the only ones there are. Who knows how many copies are floating around? Be safe, and have the locks changed … (1 comments)

A Small Independent Real Estate Company or A Big Brokerage Firm – Who Would You Rather Work With? - 02/15/12 10:20 AM
You’ve decided the time has come to sell your home, so now the question is who do you work with, a small independent real estate company or one of those big national firms who have offices all over the country?
Well, what it basically boils down to is one thing: the real estate agent who you’re going to directly dealing with.
There are many people out there who advocate going with a small real estate company on basis that you’ll probably get better and a more personalized service. On the other hand, others will tell you that a big, nationally recognized real estate … (4 comments)

Is An Offer The Same Thing As A Contract? - 02/14/12 09:27 AM
In real estate, there are so many terms and so much industry lingo, that it is easy to get lost in it all. But there are a few terms that should be clearly understood by both a buyer and seller during the negotiation when buying a house. Two of those are “offer” and “contract”. These terms are often used interchangeably, but they are not exactly the same, and it is important to understand the difference.
How an offer becomes a contract
An offer is a sales contract prepared by the potential buyer who is seriously considering buying a house they have seen. … (2 comments)

The Right Real Estate Agent For The Right Job - 02/13/12 07:46 AM
There are so many different types of dwellings out there – houses, condos, and luxury properties – that many real estate agents now specialize in particular property markets.  While there are things that all agents will be familiar with, such as the neighborhood and comparable properties in the area, there are things specific to each type of property that a specialist will understand.
Condo Real Estate Agent Specialist
The condominium real estate agent will be able to give you information on the age of the property, the types of amenities offered, and what that will mean for your maintenance fees over the next … (2 comments)

What Is The Difference Between A Buying Real Estate Agent And A Selling Real Estate Agent? - 02/12/12 01:48 PM
Buying and selling a house are two of the largest financial transactions you will make in your lifetime.  Doing a little research, and making sure you have the right representation, can mean a difference of thousands of dollars at the end of the deal.  The real estate agent you choose will play a big part in the final transaction, so it is important to understand your options.
In today’s real estate market, there is a buying real estate agent and a selling real estate agent. Buying agents represent the interests of the buyer, and will usually get paid from the total commission paid to … (0 comments)

Will 2012 Be A Good Year For Real Estate? - 02/11/12 08:53 AM
It’s no secret that the last few years have seen some wild swings in the real estate market. For the most part, the recession has brought dropping home prices and a large number offoreclosures.
On that note, here are a few things to look forward to in real estate in 2012.
1. Increasing mortgage rates for real estate
 
Yes, that’s a good thing! Mortgage rates have hit historic lows in the last few years, which was directly related to the sluggish economy. As the economy continues it’s slow but steady turnaround, mortgage rates may slightly rise as a result.  So a … (7 comments)

5 tips to get the right price on your home renovation - 02/10/12 10:25 AM
Due to variations in types of renovations, cost of materials, geographical market, permits, time and resources, the cost of renovations can vary significantly. While there is no “right” price for a home renovation, here are a few tips on how to ensure you make the most out of your home improvement investments.
1. Take Your Time With Your Home Renovation
There are those who take pleasure in redecorating, and others who are just eager to see improvements to their home quickly, but too often people rush into a home renovation, only to find themselves in too deep too quickly. In reality, renovations … (3 comments)

5 Things you should know about real estate disclosures - 02/09/12 09:26 AM
Fixing up a deck or adding a new coat of paint is common practice for those putting a house on the market, but every once in a while these new adjustments are intended to cover up something the seller doesn’t want buyers to know. That is why it is always important to look closely at the real estate disclosure documents before completing the sale.
1. What is a real estate disclosure?
It is the seller’s legal obligation to disclose certain information about the property to a buyer before the completion of a sale. This allows the buyer an opportunity to learn … (0 comments)

Looking to Buy a Home? Here Are 4 Real Estate Deal Killers - 02/08/12 09:09 AM
It’s hard for buyers to feel confident with a sale until they actually have the keys in their hand, and for good reason. Many real estate deals fall through unexpectedly, but there are ways to avoid the headache and hassle. Here are a few tips on how to avoid some of the more common real estate deal killers when you decide to buy a home.
1. You Want To Buy A Home But There Are Financial Complications
Among the most common real estate deal breakers occurs when financing falls through, which is understandable, considering the complicated nature of such major transactions. Many buyers … (3 comments)

How to Manage a Short Sale - 02/07/12 09:03 AM
Being forced into a short sale can be difficult, especially if you don’t know what you’re doing. With so many difficult factors at play, it’s easy for things to go horribly wrong. But don’t panic just yet; there are measures one can take to make the process much less intimidating.
Don’t Get Too Hung Up on Price
Since the seller will not see any of the proceeds of the short sale, there is very little incentive to sell to the highest bidder. Instead of worrying about price, sellers should be more concerned with how quickly they can get a buyer lined … (2 comments)

Safe At Home: 5 Ways to Make Your Home More Secure - 02/06/12 09:31 AM
Ask any parent what their number one concern is, and odds are they will tell you it’s the health and safety of their children. But even with so much focus on security, people tend to forget some of the simplest ways to keep their family both safe at home and when they’re not in the house. Here are 5 tips that can go a long way in keeping your family safe.
1. Being Safe at Home Means Keeping Your House Well Lit
One of the simplest and most effective ways to detour potential intruders is by eliminating the cover of darkness. Installing … (2 comments)

What is the average difference in price between a home’s listing and selling price when selling your home? - 02/04/12 09:17 AM
Many who are new to the real estate game fail to realize that there is a big difference between a home’s listing price and the actual selling price when selling your home. While the house may be advertised for a certain price, the amount it actually sells for is usually different. The difference between a home’s listing price and selling price is often an indication of the state of the real estate market. A bigger difference between listing and selling price signals a disconnection between reality and fantasy, while a smaller spread signals an understanding of current market values and conditions.
… (1 comments)

Does an energy efficient home have a higher resale value? - 02/03/12 08:44 AM
Over the last decade, the green movement has made way for a whole industry dedicated to green initiatives, offering everything from energy efficient light bulbs to solar paneled roofs, all advertising a decrease in energy costs and an increase in property value. But does reducing a home’s environmental footprint really increase its value?
While the cost efficiency of these initiatives is still up for debate, there are a few statistics that prove the real value of energy efficient homes.
For example, a recent survey found that one third of first-time homebuyers say they will avoid buying a property if it is not energy … (5 comments)

Does a home security system add value to your home? - 02/02/12 08:11 AM
Most people install home security systems with the sole intention of protecting their loved ones, but the investment in your family’s safety can also add to the value of your home.
Having an up-to-date home security system can be an incentive to potential buyers when it comes time to put the property up on the market. Buyers are often prepared to invest in a new system upon moving in, but having one already installed can be an added incentive.
Home security systems are even considered valuable enough to include among the home’s assets when listing a home on the market.
The actual value that the … (0 comments)

Helping your clients find the right neighborhood - 02/01/12 08:30 AM
One of life’s biggest challenges is determining in which neighborhood you are going to live. Unless a person has an unlimited amount of cash and is thinking of buying an island somewhere, a home is most likely the largest purchase most people will make in a lifetime.
Helping guide your clients to a neighborhood that will meet their needs will be a rewarding experience for both the agent and a homebuyer. The obvious factors include lifestyle, income, place of employment, and nearby amenities. You can begin by narrowing down areas based on the price of homes that are available. There’s no use spending … (2 comments)

 
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Lee Redwood

Toronto, ON

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Sundaybell Inc.

Address: www.sundaybell.com, Toronto, Ontario

Office Phone: (855) 786-3291

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