Archive for August, 2011

Having your own agent to help you buy a home can save you time and money. 

• A good agent will help you to determine exactly what you want, and how much you can afford to spend.
• A good agent knows the city and can help you pinpoint the best areas for you and your family. 
• A good agent has access to listings, open house and other crucial information.  You don’t want to waste time looking at houses that don’t meet your needs. 
• A good agent will ensure you don’t overpay for a house, having access to information on the local market, and on recent sales and active listings in your target area.
• A good agent will encourage you to be pre-approved for a mortgage so that your financing is in place before you start to look for a home.
• A good agent will have a network of professionals to call on such as lawyers and home inspectors.
• A good agent is not afraid to negotiate and will ensure you make a reasonable offer that will be taken seriously

The seller’s agent (or listing agent) has a legal responsibility to act in the best interests of the seller.  You need the right person acting on your behalf.

YOUR AGENT MATTERS!

Kris

If you are thinking of buying or selling real estate, you will likely have heard one or more real estate agents talk about CMAs.  What is it and why should you care?

CMA stands for Comparative Market Analysis.  This analysis provides a very important piece of information when selling your home.  The CMA report gives you information on homes that are similar to yours (location, size, style, etc) and are for sale, were listed but didn’t sell, or have sold. This enables you and your real estate agent to determine the best price to list your home.  You compare your house to “the comparables” provided in the CMA report and settle on a number that makes the most sense to attract buyers while still giving you a fair price for your home.

This information is just as important if you are buying a house – you want to know that you are offering the right price and are getting good market value for your money.

Knowledgeable clients make the best clients.  A real estate transaction is a significant life event involving large sums of money and deserves the right amount of homework and information before that decision is made.

If you, or anyone you know, is interested in having a free, no-obligation CMA done on your home, don’t hesitate to call me at 613-721-4210.

People often ask me why a home inspection is a good thing to do.

They cost money – so why do we need them?? 

Buying real estate is a huge life event and all buyers should be equipped with the information necessary to make an informed decision.  There is no money-back guarantee or return policy if you’re not satisfied with your recently purchased home.  Once you buy a home, you’re on your own to maintain it, repair it, anticipate problems and pay the bills.  This is why it is so important to know everything you can about potential problems before you make that commitment to buy.   This applies to new homes as well as resale homes. 

A home inspection is also of value if you are planning to list your home for sale.  Issues are identified and dealt with up front allowing you to list your home with peace of mind. 

A home inspection is a visual inspection of accessible components and systems of a property.  It should cover the exterior (roofing, flashing, chimneys, gutters, downspouts, wall surfaces, windows, doors, the foundation and the grading around it), and the interior (electrical, heating, air conditioning, ventilation, plumbing, insulation, flooring, ceiling and walls, windows and doors).  The inspector will determine the components that are not performing properly as well as any items that need replacing and/or are unsafe.  They will identify areas where repairs may be needed or where there may have been problems in the past. 

The seller is normally NOT present but a good home inspector will encourage the buyer to attend, follow him around and ask lots of questions.  One should budget 2 to 4 hours at the site and the buyer should expect a “big picture summary” immediately after the inspection and a written report within 24-48 hours.  The cost is in the $400-$500 range. 

To find a reliable and qualified home inspector, ask friends or family members.  Your real estate agent may also make a suggestion.  Look for people who belong to a provincial association and who have taken inspection courses.  Check to make sure the inspector has successfully completed the association’s certification process.  You can also ask for references and check with the Better Business Bureau.

Some of the above information came from the CMHC website.

Are you like most of us – wondering how much your RRSP portfolio will earn in monthly income once it is converted to an Annuity or a RRIF at age 71?

Ever wonder how much OAS will be clawed back if your income passes “the magic number” (currently $67,668)?

Do you wonder whether it is better to contribute to your RRSP or your TFSA?

Maybe you are many years from retirement and are simply wondering how large your retirement nest-egg will have to be in order to bring in a certain level of income!!

Is paying down the mortgage better than investing in an RRSP?

How much is a future amount worth today, or vice versa?

Well – I found a fabulous website that gives you all of this information – and more!

Check out www.retirementadvisor.ca and then look under the Tools Tab.  There is probably an answer to everything you ever wanted to know and then some!!

I leave the financial advice to the financial experts – but when it comes to real estate – if you are thinking of buying or selling (or both), please give me a call!!

Kris