Greater Vancouver Real Estate BlogRecently posted or modified blog posts by tag - Buying and Selling Propertyhttps://www.vancouverhousefinders.com/blog/Copyright VancouverHouseFinders.com2022-07-18T10:20:49-07:00tag:vancouverhousefinders.com,2012-09-20:11103March home sales and new listings set records in Metro Vancouver!March home sales and new listings set records in Metro Vancouver
Compared to previous years and months, March 2021 was the busiest month ever in Metro Vancouver’s real estate market. There were more new home listings and sales than the region had seen in the previous month or any other month before, with residential home sales totaling 5,708.
To put the figures into more perspective, sales just a month before, in February 2021, were about 53% less at 3,727, while those a year earlier, in March 2020, were approximately 126% less at 2,524. As a result, residential home sales in March 2021 were 72% more than the average in March for the last ten years.
According to the chair of the Real Estate Board of Greater Vancouver, Taylor Biggar, the surge in sales in March 2021 was unlike anything they had seen before. Due to the demand, the market experienced an upward price pressure resulting in double-digit price increases for single-family homes and townhomes.
The region’s rural and suburban areas of Squamish, Delta-South and Whistler say the highest growth in demand with an increase of approximately 188%, 195%, and 194%, respectively.
Metro Vancouver’s Multiple Listing Service® (MLS®) reported a record number of new listings in March 2021, with 8,287 units of attached, detached, and apartment homes. Compared to March 2020 and February 2021, the record number of listings increased by 86.8% and 64.2%, respectively.
What the Numbers Mean
Current figures put the number of listings on the service at 9,145 against 9,606 in March 2020. While that is 4.8% lower than the previous year, it’s 9.4% higher than the previous month of February, where there were 8,358 listings.
Still, as the chair of the REBGV noted, the new record listings haven’t caused a supply glut as the demand in the market has seen the inventory of homes for sale decrease significantly compared to 2020.
The ratio of sales-to-active listings across the board for March 2021 was 62.4%. However, by property type, the ratio for apartments, detached, and townhomes were 65.4%, 52.9%, and 79.9%, respectively.
Generally, analysts say downward pressure on home prices occurs when the sales-to-active listings ratio stays at 12% or lower for several months, while upward price pressure is experienced when the market sustains a ratio above 20% for an extended period.
Experts say that the current market activity results from market recovery, low-interest rates, increased household income and savings, and high demand for space.
Further analysis of the Home Price Index composite benchmark by the MLS reveals that the average price of residential property in Metro Vancouver is $1,123,300, a 9.4% and 3.6% increase over March 2020 and February 2021.
For a detached home, the composite benchmark price was $1,700,200, a 17.9% and 4.9% increase over March 2020 and February 2021, respectively. Similarly, the price for attached home sales in March 2021 stood at $872,200, representing a 10.4% and 3.9% growth compared to March 2020 and February 2021, respectively.
Compared to March 2020, the sales of detached, apartment, and attached homes in March 2021 increased by 130.6%, 128.8%, and 112.2%, respectively, setting a new record in Metro Vancouver.2021-04-14T14:10:00-07:002022-07-18T10:20:49-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:7999Q : How Do I Know If I’m Ready to Buy a House?
Here are things to think about when deciding if you should buy a home.
How do you know when you’re ready to <a href="https://www.vancouverhousefinders.com/blog/the-guide-for-first-time-home-buyers/">buy your first home</a>? Well, there are a few things you need to ask yourself:
Do you have stable employment? If you’ve been at your job for a long time and you’re happy with what you’re doing, these are good signs. Remember: A mortgage takes 25 to 30 years to pay off, on average.
Do you have the savings for a down payment? If the purchase price is below $500,000, you should have at least 5% saved up to buy a home.
Are you saving money every month? CMHC (Canadian Mortgage and Housing Corporation) says that the difference between renting and owning is often about $600 to $800 per month. If you know you’re saving that much and more, then you may be ready to buy a house.
A mortgage takes 25 to 30 years to pay off, on average.
Take a hard look at your financials. There are unforeseen expenses that come along with homeownership. Even if your monthly payments will be the same (or possibly less), that doesn’t necessarily mean you can afford it. If you do decide it may be the right time to buy, you need to talk to a mortgage broker to get qualified so you can shop within your budget.
Check Also :
<a href="https://www.vancouverhousefinders.com/buyers/mortgage-calculator/" title="Mortgage Calculator">Mortgage Calculator</a>
<a href="https://www.vancouverhousefinders.com/blog/how-to-determine-the-value-of-your-home/">Calculate Home value</a>
If you have further questions about the pros and cons of homeownership, or any other real estate topic, feel free to give us a call or send an email. We can run through an analysis of what it will cost you per month to own a home. We would love to help you.
<a href="https://app.acuityscheduling.com/schedule.php?owner=15579442">Schedule a call with me</a>2020-08-10T14:51:00-07:002022-04-20T03:48:42-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:5090How often should your agent be communicating with you when selling your home?Q. How often should your agent be communicating with you when selling your home?
A. When you are selling your home, no question is too simple or small. Here’s one. “Will your agent call you or should you call your agent?” and the answer is always YES to both.
Most agents welcome calls from their clients, regardless of the frequency. When <a href="https://www.vancouverhousefinders.com/">selling a home in Vancouver</a>, the number one complaint home owners have is the lack of communication & follow-up from their real estate agent - after the agent has listed the home for sale. In fact, the biggest complaint and frustration coming from sellers that the agent does not return theirs calls and doesn’t give them updates about the changes in the market place as the listing sits on the market longer and longer.
Of course, calling your agent 10 times a day is not recommended and maybe construed as annoying and probably not needed. But things often move fast in this business. If you're in the middle of extreme negotiations or an emergency has risen, for instance when you are closing the deal or there is an issue with the paper work but you are not really sure of what it is, you should be able to call your agent.
Thus, it is very essential for you to stay updated with your agent about the process of buying and selling during the sale of your home.
What can you ask your agent?
If it bothers you, no question is unreasonable. Here are a few topics or questions to ask real estate agents that home buyers or home sellers might have questions about, but any type of real-estate-related question, even if it doesn't fall into one of the following categories, is important to address with your real estate agent:
Property information: the first thing that is needed to know about the property such as what kind of house you want, how can you really know if it’s a good deal, best area to live, and best schools for the kids, etc.
Home prices: they can always help you in knowing the prices that are reasonable and best area and complexes that can be the most profitable in the market and how much you should invest.
Home selling steps: we all know that a lot of us don’t really know what the requirements to sell a house are? for example, legal paperwork, staging, deposits, etc. are important.
Home inspections
Purchase offer presentation
Counteroffer preparation
Offer negotiation
Comparable sales
Repair requests
Seller disclosures
Closing process
How you should ask for help?
Work with one agent
Be direct and ask your agent about terms of exclusivity if you are unsure. Often if you sign a contract with an agent, it is expected that you will only work with him or her. If your agent expects exclusivity, do not communicate with or call other agents. If you find a home that you want to see, contact your agent, not the realtor on the listing. The listing agent works for the sellers, not you the buyer. You hired your agent to find you the right home. Going behind your agent’s back could potentially put you in risk. Also could ruin your client-agent relationship and affect your communication.
Don’t worry about the lingo
No one expects you to know all the ins and outs of real estate vocabulary! Agents want you to feel comfortable, trust them and know just how knowledgeable they are in their field. If you are unsure of something, just ask.
Make your expectations clear:
Your needs should be a list of what you absolutely cannot live without in a house. Your wants should include perks but not deal breakers. Be upfront about your wants and needs so your realtor can easily find exactly what you are looking for in a home. If you aren’t clear with your agent from the beginning, you will waste your time looking at houses that you’ll never purchase.
Don’t be shy!
If you have a question? Ask. None of us are perfect. If you don’t understand anything, you NEED to ask. It’s your time and money you are investing, and you need to clear your doubts.
Trust your realtor
We know it’s not easy. But, if you have taken a step to go out and trust someone to sell your home, might as well trust them to do it well.
<br />Check Also Also :
<a href="https://www.vancouverhousefinders.com/blog/important-questions-to-ask-a-real-estate-agent-during-an-interview-seller-perspective/">Important Questions to Ask a Real Estate Agent During an Interview</a>
When you ask?
I usually call my clients every Monday to let them know what happened in the market the week before and on the weekend’s open houses. You and your agent can decide on one or all of the following methods:
Daily or weekly telephone updates and conference calls with your realtors and contractors. Daily wouldn’t be that required but weekly calls can really help you know the progress.
Email is the most used way of communication in such a professional setting. There are so many realtors who provide email services regarding cases or attractive articles such as tips or references to help you explore your options and help you with the procedure. You can always ask for regular updates or just email on an as-needed basis.
Text messages—best for confirming an appointment or short conversations. I mean everyone is available via text messages. It’s the best way to communicate if you want to convey something short such as dates or any meetings or requirements to be met.
Voicemail messages: When you can’t get a hold of your agent or they can’t get a hold of you, always leave a message and give your agent permission to do the same.
Face-to-face meetings: This is the most preferred way of communication for most people. All doubts can be solved and understood better in person plus handling complex situations in person is often easier.
Some agents don't answer their cell phones, but they return calls once or twice a day at certain times. If that behavior is unacceptable to you, either work out a different schedule with your agent or find another one.
Of course, an extended relationship with your agent through the life of a transaction dictates all modes of communication. The important thing to remember is to set expectations and boundaries such as how late at night do you want to be contacted, how early in the morning is too early, what type of news would you like to hear on the phone or what thing has how much intensity for you. Making clear of when is a text or email appropriate and maintaining your professional boundaries with your real estate agent. And of critical importance, never share financial or personal identification information with anyone electronically unless you verify the receiver first.
The important thing is that you establish the preferred methods your agent likes to use for communication and you find a way to work together that satisfies you both.
Want to have a chat about the property or about your buying or selling needs?
<a href="https://app.acuityscheduling.com/schedule.php?owner=15579442" target="_blank">Book</a> an appointment today with me and I’d love to help you with your selling.
You can call me anytime.
Hani Faraj
778 881 67812019-07-26T09:36:00-07:002022-04-14T03:45:57-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:4476What Is A Bully Offer?Q. What is a bully offer?
A. A bully offer is a common term for what is known as a pre-emptive offer.
A pre-emptive offer is as the name suggests, an offer made by a buyer to a seller before the pre-determined offer date set by the seller. In such an offer situation, the buyer approaches the seller at an earlier date with a higher price offer than the already set price.
It is generally an assumed stimulation in such an offer that the offer made by the buyer is a one time offer with a very short time frame. These offers generally have a negative connotation in the field of real estate due to the controversy they cause. Sellers are often confused as to the correct response to bully offers made and of course, other buyers deem it unfair.
From a buyers perspective, a bully offer if accepted is obviously beneficial to them. But the question remains, why not wait for the prescribed date to make the offer? A buyer making a bully offer can choose to do so for a multitude of reasons.
Here’s some clarity on some of the reasons a buyer would put forth a bully offer:
1. Ignore the competition.
A bully offer is presented to a seller before the actual date that sellers are going to review buyer offers. This means that the offer is the first and only offer made to the seller at that given point of time. Buyers sometimes do not want to get into the hassle of bidding and out-bidding other potential buyers during the sale of a property.
Sometimes, once they’ve settled on the decision to buy a house, they want to close the deal without any fight. A bully offer assures a clean slate from any competition or fight.
2. I want it and I want it now.
Sometimes buyers are unable to close the deal on buying the house for a multitude of reasons, but none being the lack of trying. Other buyers winning the final deal or loan transactions falling short often lead to a buyer not being able to settle onto any deal. Exasperation from the volatile nature of the real estate business also leads buyers to sometimes proposition a bully offer on the next house they have their eyes on.
They want it bad and don’t mind breaking a few rules to get it, even if they need to mint out a bit of extra cash!
Generally bully offers pop up in the market when demand is not being met with supply. There are too many buyers on the market but not enough homes to buy. In such situations, people become restless which in turn leads to the creation of such offers.
It is simple really if the demand for houses is low your chances of getting the house at the usual offer-making period are high. In such a scenario, a bully offer is unnecessary. It is in a hot market wherein bully offers pop-up.
So for a buyer, the question then arises, is it wise to make a bully offer and if so how?
First and foremost you must understand what a bully offer entails. Such an offer is made at a higher price than the listing price. The nature of the offer is such that it includes no conditions and no negotiations. This isn’t a hard and fast rule but is generally followed in such offers.
It’s important to note that you must be able to pay a down-payment upfront. The price is generally non-negotiable if the seller is unhappy they can wait for the actual offer-making date.
Bully offers have a set time frame. The offer stands for a limited period of time and this is made clear when the offer is made. This rule is generally made so that sellers do not pursue other such offers at the same time, which is counter-productive because avoiding competition is one of the main advantages of bully offers.
As a buyer, one must first observe the market and decide if making a bully offer is necessary. If so, a buyer needs to be confident while making such an offer. Keep your documents in place and make sure you are financially strong enough to swoop into such a deal. Bully offers cannot be based on dwindling decisions.
While having negotiations, a realtor/buyer should know how many demands they can make and where it is that they have to accept what they get. It is not advisable for people inexperienced in the real estate market to go forth with such offers.
Now that we’ve observed a bully offer from a buyer’s perspective, let us look at it from a seller's angle.
Say suppose you are a seller, you have set a date wherein you will review all offers on a particular property, but you receive an offer from a buyer prior to this already determined date. Will you take the offer?
Many sellers are often left with this same question, and find it difficult to come up with an answer. They get confused on whether to wait it out or take the higher rate before the offer expires. A bully offer puts a seller in a spot, making it difficult to make a correct decision.
Here is a seller’s true dilemma when it comes to bully offers:
Should I take the leap?
Sellers often swing between waiting for the offer-date and jumping onto the present opportunity. While waiting seems like the systematic way, an enticing offer is in front of the seller pulling them to the opposite side. Either way, the seller is left with what if they wish they had the answer to.
2. Is it high enough?
A bully offer has a higher rate than the set offer rate. It is one of the main attractive features of such an offer. But it leaves the seller thinking if its high enough to ditch the offer-date, with the thought in mind that there could be higher bids if she/he waits it out.
3. Please close the gates.
Often what happens is that when a seller takes into consideration a bully offer, a flood of other offers starts flowing in. But due to the time barricade that bully offers have, there is often no time to review the available offers. This puts sellers in a tough and confusing spot.
There is no right decision when it comes to bully offers.
Accepting a bully offer involves a lot of careful planning and thinking. Make sure to read all stimulations of the offer before considering it. If the idea of receiving and dealing with bully offers gives you too much stress, inform your realtor that you do not accept any such offers.
Do not burden yourself with the what-ifs of a bully offer if you cannot or do not want to deal with it. As a seller, you should know the valuation of your house and look at the price offer made in the bully offer you can decide if it is worth considering.
When it comes down to it, legally a bully offer is allowed.
But if rules are set claiming no allowance of such offers, realtors are supposed to abide by it to be fair to all. It isn’t unethical to place or accept a bully offer, that is a matter of perspective but it is important to make an informed decision. Rash or hasty decisions can only be loss-making for any or all parties concerned.
For a seller, it is advisable to consider such deals when the price offer is especially high or the market is slow. For a buyer, it is advisable to place such deals in a high demand low supply situation or if you have found the perfect house and want to guarantee that it becomes your home.
Want to have a chat about the property or about your buying or selling needs?
<a href="https://app.acuityscheduling.com/schedule.php?owner=15579442" target="_blank">Book</a> an appointment today and let me know how I can help you.2018-12-26T14:40:00-07:002018-12-26T16:38:24-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:4474Internet-Based Home Evaluation Tools: Are They Reliable?Q. Do internet-based evaluation tools provide accurate measurements of my home/condo value?
A. The answer every eager seller is looking for when entering the realms of the real estate market is to the heavy question ‘What is the exact valuation of my house, apartment, or property?’.
The most important factor for a buyer and even more so for a seller is the money value of a property. The real estate market depends on the transactions between a buyer and a seller, and the higher the sell the better it is for a broker. Any person looking to sell their home has a monetary motive behind it, the higher they can take the bid, the more beneficial it is for them.
Therefore, it comes as no surprise that in the real estate world, free home evaluations are an essential part of every dealing. The first step for a seller, which is present to the actual buying-selling process is calculating the worth of a given house. Anyone looking to take a property off of their hands first looks for methods through which they can <a href="https://www.vancouverhousefinders.com/blog/how-to-determine-the-value-of-your-home/">determine the value of their property</a>.
This step can be carried out through multiple techniques available in the real estate market. They come in a wide range, starting from broker valuation methods, agencies that deal in such valuations or internet valuation tools.
<a href="https://www.backatyou.com/home-value/F1520B72-5957-45B3-87D4-D43D76E97C48?cc=1kud9" title="How much is your home worth?" target="_blank"><img src="https://assets.site-static.com/userfiles/1084/image/Blog/Home_Value.png" width="769" height="400" alt="How much is your home worth? Click here to find out." title="How much is your home worth? Click here to find out." /></a>
Broker valuation method is a process wherein you approach a real estate broker and sign up for his/her services to get a proper value of your property. In such a method, brokers essentially take a look at the property, the key elements of the locality and using their expertise and the current value of the market provide a certain figure to the customer.
The second method is through agencies, wherein you contact a real estate agency and they provide you a realtor for the valuation. Its workings are the same as the broker valuation method.
Internet valuation tools are basically applications available online wherein you can put in the area and location of your property and it will generate your valuation instantly.
It is established that there are multiple wars to go about the valuation of your house, but often sellers are stuck in a dilemma, with a broker providing one rate, an agency providing another and online methods showing completely different results, which method can one truly trust? And why, if the property is the same, are there different valuation results?
These pressing questions need answers, and sellers are stuck with so many aspects to inspect but in so little time. The market is volatile and being stuck at the valuation stage for too long can be hazardous. So here’s some clarity on the issue.
The results you receive on a calculate depends on the numbers you type in. Similarly, the valuation of a house is a result of the information that goes into calculating it.
Realtors and agencies use the same kind of data but their results can be influenced by biases or human error. A software technique completely ignores the real elements of a property such as changes in a neighbourhood and can, therefore, be inaccurate. Thus, different methods sometimes show different results.
Check Also: <a href="https://www.vancouverhousefinders.com/sellers/pricing-your-home/">Tips for Pricing your home</a>
There is no right answer on which one you can trust but rather a choice to make in deciding which method has a higher level of accuracy.
Traditionally, valuations were done by the broker method, whose results were, in the past, considered the ultimate word. People never cross-verified the final valuation and this often led to people being fooled into settling for a lower value than the actual value of the property.
But if the alternative is online house valuation, the question then remains, is this method any better than the previous? Or is it the same thing all over again, but now, with the risk of your credentials getting lost or misused in the large abysses of what we call the world wide web?
Internet evaluation methods are presented in the form of a software that can either be accessed on a website or through a downloaded application on your device, be it your laptop or your smartphone.
AVM, which is the abbreviation for ‘Automated valuation model’ is a real estate valuation model that provides properties valuations using large content available on their database combined with various pre-set algorithms. They are fast and easily available to anyone and everyone who wishes to access them, at any location at any time.
While the working and format of various AVMs may differ from one another, the general format is to do a comparative analysis of present-day home values and provide you a valuation for your property for that given point of time.
AVMs use public data in their home evaluations and as their number of users increase, their database broadens. With the market booming and there being a large influx of people making transactions within the real estate market, there seems to be no problem in this area. The reason more and more people are moving towards online methods of valuation can be narrowed down to one single word: Trust.
People’s entire lives depend on the sale of their property and the demand for an unbiased, fair evaluation is what has kept this internet valuation software thriving today. Having said that, this method, in spite of being unbiased, is not free from its faults.
Like any other real estate value evaluation system, even automated ones have their own set of limitations. One of the largest limitations is the dependency on data. The accuracy of AVMs is mainly dependant on the amount of data present in the database. The larger the database, the higher the accuracy.
Essentially what the program does is that, when a user inputs the information they have (address of the property) and asks for the information they need (valuation of said property), the software collects all the data related to the area, the geographical location, neighbourhood reviews, basic facilities, amenities, special features, general valuation of neighbouring properties etc. and putting all of this together, calculates a valuation.
One of the main advantages of using such a valuation technique is the decrease in manual labour for a broker. It reduces the time and is also a very cost-effective method compared to broker valuation methods. It aims at cancelling out the shortcomings of a physical broker property valuation.
Internet-based property valuation tools have both positive and negative aspects to them. Here are 3 reasons why you should go ahead with this valuation method for your home:
Quick & Easy
Internet tools can be downloaded onto your laptop or smartphone and can be used at any time. It’s easy to navigate these applications and it comes with an easy set of instructions to make your valuation experience user-friendly. The results are almost instant and if the area you’re searching is slightly obscure, you will receive a mail or update with the required information within a few days max.
2. Cheap & Best
Most of the available property valuation applications or software are free of charge or have a minimum subscription fee. In comparison, manual valuation turns out to be a far more expensive proposition.
3. Let’s get the stakes down
Automation valuation methods are low-risk methods of valuation. Technology completely overshadows the possibilities of human error, be it intentional or unintentional. The software has pre-determined formulas that access data accurately, and there is no outside factor that can affect the results of your house valuation.
But with its numerous advantages enter the disadvantages of internet valuation tools. The most prominent one being ‘inconclusive data’. The primary raw material for results is data.
Often in such technologies, the software is unable to capture the exact condition of the property, thus leaving the results inaccurate. Also, removing the human element can lead to the ignorance of factors that technology cannot provide. These may include future changes in the neighbourhood or locality. To combat this issue many applications, attach user reviews of the area along with your valuation.
At the end of the day, we can come to the conclusion that in spite of its disadvantages, automated tools for the valuation of your property are a viable option. With the advancements in technology, the accuracy and efficiency of these tools will only increase. The method is popularly used in the market for all the right reasons, now it is in your hands what technique you would like to adopt.
As it is popularly said, your house, your rules!2018-12-17T16:19:00-07:002022-04-12T04:56:42-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:4369Bear Creek Green Timbers, SurreyTake a breath of fresh air in the lush and relaxed neighbourhoods of Surrey and get a tour of the fresh grounds that await the warmth of your starter home!
<a href="https://www.surrey.ca/" target="_blank" rel="noopener">Surrey</a> is an area that presents a quiet and quaint ambience, with large green spaces and an abundance of greenery. For those who enjoy spending their leisure hours in the throngs of nature, Surrey is the place to be. It provides a tranquil neighbourhood, an ideal place to build your home.
<img src="https://assets.site-static.com/userfiles/1084/image/Lake-at-Green-Timbers.jpg" width="800" height="459" />
Lake at Green Timbers. Photo credit to City of Surrey.
<a href="https://www.surrey.ca/files/Green_Timbers_Heritage_Society.pdf" target="_blank" rel="noopener">Bear Creek Green Timbers Neighbourhood</a>
This neighbourhood has ample advantages that just can’t be missed. It has a lot to offer for a prospective settler. <a href="http://www.greentimbers.ca/" target="_blank" rel="noopener">Bear Creek Green Timbers</a> is one of the best places within Surrey, a well-connected area that provides for its residents in all ways imagined. It has an array of services provided to the residents at convenient distances. With over 500+ restaurants, eateries and cafes within the locality, you no longer have to worry about picking out a hangout spot for your brunches or coffee dates. There are over 150 stores available, so forget about grocery hassles anymore, because Surrey is here for you!
Parks and Playgrounds
Bear Creek Green Timbers has a large number of <a href="https://www.surrey.ca/culture-recreation/2104.aspx" target="_blank" rel="noopener">parks and playgrounds</a> in the vicinity as well, known for lush greens. You can now enjoy Sunday picnics in parks near your house. You no longer have to travel somewhere far for a peaceful family outing, here in Surrey, that serene ambience is brought to you at your doorstep.
Education
When it comes to education, the schools in the vicinity are easy to access by foot. Having more than 10 well established educational institutions within a 3km radius, residents have a trouble free and convenient life here at Surrey. The area is also home to some of the province's highest-ranked schools, including Southridge School and Relevant High, within a 15-minute driving radius. The district also hosts some of the other prominent schools, which include the Princess Margaret Secondary, Clayton Heights Secondary and Regent Christian Academy. It also has a good combination of historic restaurants such as The Green Lettuce, Old Surrey Restaurant and New York New York Greek.
<a href="https://www.surrey.ca/city-services/9773.aspx" target="_blank" rel="noopener">Transportation</a>
The best way to move in Surrey is usually driving, due to easily accessible parking spaces all across the neighbourhood. Recreational spots are generally equipped with large parking lots. Though this is not the only advantage in terms of transport. With the <a href="https://www.surrey.ca/city-services/9773.aspx" target="_blank" rel="noopener">Scott Road Station, Surrey Central Station and King George Station</a> within an equitable distance of all homes, residents of Surrey benefit greatly from the multiple train stations on the Expo Line available to them. Not only that, there are over 50 bus lines mapping the neighbourhood, eliminating any and all transit issues one could face.
Recreation
With recreational spots at every nook and corner, greenery splashed all across the neighbourhood, schools, stores, malls etc. at convenient distances and easy transport routes, what more can one ask for in a locality. Come experience living in the top of the class neighbourhoods of Bear Creek Green Timbers, Surrey, come be a part of this amazing community, come and build your starter home in the perfect place. Surrey is commonly called as the “<a href="https://www.surrey.ca/culture-recreation/3113.aspx" target="_blank" rel="noopener">City Of Parks</a>” and is one of the best cities for families and individuals to settle in as it hosts various festivals, celebrations and activities as well.
147th Street, Surrey
<img src="https://assets.site-static.com/userfiles/1084/image/44.JPG" width="617" height="409" />
Here is your opportunity to get an ideal place to grow your family. Get your dream residence here along 147th Street, Surrey BC, V3R 3V7, get your key and unlock the doors to greener horizons and new beginnings.
This home is a complete catch where you can build your dream home with the best amenities and décor. You would be nuts if you did not grab this special chance before it slips out of your hand. Get the opportunity of a life time-- if you buy and submit your plans to the city, you may just be able to build a larger home before the city changes its rules in the City of Surrey.
Buy and hold and eventually build your dream home on this larger beautifully manicured 8200 sq. ft. lot. Get to craft your home the way you imagined it. Join hands with us and we’ll help you create your dream home.
With freshly painted walls and well-maintained interiors and a beautiful flat back yard, there is unlimited potential for this plot of land to turn from a house to a home.
Just imagine the possibilities of owning this home. The backyard barbeques with family and friends, the star-filled nights with your partner and the relaxed Sundays spent playing with your kids. Or you can convert into a beautiful office for your business or just buy it for investment.
Can’t wait? You can always call us for a visit and we will be happy to take you around!
<a href="https://app.acuityscheduling.com/schedule.php?owner=15579442">Book</a> an appointment today with Mr. Hani Faraj and be assured to have an amazing experience.2018-10-08T22:25:00-07:002018-10-25T12:05:52-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:4365What Can I Do To Get Ready To Move?So you have finally sold your house or bought one. Or, you are in the process of doing one of the either. First off, congratulations! It’s a huge milestone to have been able to buy/sell a home.
Among the celebrations, you might have experienced the panic of having to move! Hence, the google search and your eventual landing up on this article.
Well, fear not. Having been in the real estate industry for a while now, we have accumulated a few tips that will help you move with ease and even save some money while doing so!
<img src="https://assets.site-static.com/userfiles/1084/image/Move-out.JPG" width="587" height="392" />
The following moving tips are meant to help you stay focused, organized and have a stress-free and seamless move to your new home!
1. Calculate Your Moving Costs
Before you start off in full force with regards to your move, sit down and calculate what you are willing to spend towards your move to help you abide by it along the way.
If you are looking to hire a professional service or do the heavy lifting on your own, you will need to factor in a lot of expenses. Everything comes with a price tag and can quickly add up unless planned for properly.
Here’s a look at some of the costs you can consider:
Hiring movers/renting a truck
Moving boxes, tape, padding
Undue bills in your old home
Travel costs to your new home and so on
2. Change your address before you move!
One of the most important tips, ensure that you change your address before you move. Take a section of your journal and note down all the essential utilities, organizations and people whom you may need to contact prior to moving. This would include setting up address changes through your postal service, forwarding mail for at least the first month or two, setting up electricity, telephone lines, cable, etc.
Also, make sure you update your new address with the <a href="http://www.icbc.com/driver-licensing/moving-bc" target="_blank" rel="noopener">ICBC</a>, the <a href="https://www.canadapost.ca/web/en/products/details.page?article=forward_your_mail_wh" target="_blank" rel="noopener">Canada Post</a>, the insurance companies and with any other company that sends you bills (<a href="https://www.bchydro.com/accounts-billing/moving-electrical-connections/move-in-out.html#move" target="_blank" rel="noopener">BC Hydro</a>, <a href="http://www.telus.com/get-help/account-and-billing/register-and-manage-your-account/ffh/moving/support.do" target="_blank" rel="noopener">Telus</a>, <a href="https://shaw.ca/secure/easy-move/" target="_blank" rel="noopener">Shaw cable/internet)</a> . Also ensure to include your doctors, dentists etc. These professionals will be able to refer you to someone in the new city that you will know and hence it will be handy.
3. Hire a moving company
Though as humans, we have the tendency to wanting to do everything on our own, hiring a moving company will relieve you of your stress. Depending on the distance that needs to be travelled as well as the amount of heavy furniture or bulky items you have to move, it is a very smart decision to hire the services of a professional company.
Don’t be afraid to shop around and get multiple quotes so as to make the right decision. Ensure that you go over insurance policies to figure out the coverage and so on. Don’t just pick the cheapest moving company as that can lead to disastrous results. You don’t want an unprofessional company moving the most essential things of your life.
4. Fix up your new place before moving in
It is always hard to move into a new place and it does require time and patience. But, moving into a home that requires a lot of repairs, painting, cleaning etc is a nuisance, especially if you have kids.
Hence, if you have some time, take a few rounds to your new home and inspect it for the jobs that need to be done. Find out quotes from nearby professionals or from your agent to get the jobs done. Be sure to allow a day or two to complete them before the move.
By doing so, it will make it easier to access and fix the problems before you start the moving process. It will help you have a stress free moving day filled with a lot of memories instead of panic attacks.
5. Plan your new rooms and pack accordingly
As a proud owner of a new home, you would have undoubtedly inspected it in advance and had some dreams of how you would organize it. These dreams can be put into action faster if you follow a simple tip.
Before you pack up your exiting home, plot out what will fit where and how in the new location to give you a better sense of placement. This can help you come up with a plan for which items should be packed first, last, or discarded. By having this in place, you will be able to unpack faster and be much more efficient.
There is absolutely nothing more stressful than shifting heavy furniture in a new home multiple times just because you have no idea where you should put what!
These five tips, though may seem logical are true life savers. By following these tips, you will be able to have a successful move that you will remember for days to come. A successful move is determined by the kind of planning and execution you put into it. You have bought a home. Now, it is time to make memories in it.
Want to have a chat about the property or about your buying or selling needs?
<a href="https://app.acuityscheduling.com/schedule.php?owner=15579442">Book</a> an appointment today with Mr. Hani Faraj and be relieved of any stress.2018-08-03T00:02:00-07:002018-10-18T13:10:41-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:4358What Can Frustrate a DealMay 16, 2016
<img src="https://assets.site-static.com/userfiles/1084/image/39.jpg" width="600" height="400" />
This week we have a few things to watch out for that can frustrate a deal from Vaneesh Dass - Mortgage Broker of Verico Xeva Mortgage
What can Frustrate a Deal
Contracts:
Adding the furniture to the contract
Thinking that the cashback from the developer when added to the contract is not going to be deducted from the purchase price
Dates
Completion of purchase and sale are the same date
Not setting a clear subject removal date and time so that the deadline isn’t missed
Client not having funds for the deposit, as they expect those funds from the sale.
Not addressing the presence of potential underground tanks in properties
Signatures not witnessed – not sure how strict lenders are on this now, TD used to be brutal for requiring it
Incorrect page numbers
PDS - client checks yes on a box relating to assessment or work done and then does not fill out the comments sections with info relating to the date, type of work and amount of assessment
Purchase Plus Improvements Deal – Not getting more than 5 business days for subject removal – 7-10 preferred so contractor can get access for quotes
Subject removal - On Saturday or Sunday, effectively gives you one or 2 less days as you have to get complete with lender Friday
Not specifying purchase price is inclusive or exclusive of GST on new home purchase
Blindly including a generic assignment clause, when the client has absolutely no intention of assigning
Being inaccurate about age restrictions, who manages the strata, rental restrictions, rental pool – I’ve seen realtors call it a rental pool, when it wasn’t and it killed the deal with one lender
Not adding the postal code to the address being purchased
When another person is being added to contract later, not writing in the addendum including that person’s name
Not letting the broker know that completion date has changed
Not adding the other realtor’s information
MLS Listings:
Comment referencing rain-screening or envelope work done years ago – automatically triggers the lender to ask for engineer’s report, proof of vote for full repair etc. I usually ask the Realtor for a new MLS with this removed
MLS mentions property sold furnished
Putting hobby farm in the description or pointing out income potential with the property
Describing that the Realtor “thinks” the property might have been a past grow op.
Unnecessarily pessimistic wording the notes, about the condition of the property – often makes lenders walk
Being inaccurate on the financial data – don’t include the strata, property taxes, etc. if you don’t know – do your research!
Not adding the property management company for condos/townhomes – the lender assumes it’s self-managed
2018-06-23T19:22:00-07:002018-10-18T12:25:47-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:4357Why is it a Great Time to Buy a Home in Vancouver?Nov. 2, 2014
What's happening to the <a href="http://www.vancouverhousefinders.com/search/results/fj/?&sort_latest=true">Vancouver Real Estate Market</a> in the next 12 months?
CREA , Canadian Real Estate Association said in a publication to Realtors in British Columbia last month that based on their projection they expect 34,000 people to move to Vancouver and the Greater Vancouver Area in the next 12 months. Even though not everyone moving to the area will buy a home, it is important to note that more people seeking rental places couid most likely boost the prices of rent to new high levels. If only a percentage of those 34,000 people buy a home, that is also a huge boost of new home buyers entering the market and putting an upward pressure to the already expensive Vancouver real estate market.
Why is it a Great Time to <a href="http://www.vancouverhousefinders.com/">Buy a Home in Vancouver</a> ?
You must have heard of the saying that real estate is an investment that everyone needs to make in order to be financially secure in the future. However, even if you do not consider your home an investment, you should still <a href="http://www.vancouverhousefinders.com/">purchase a home or a condo</a> because you're going to pay rent anyway. If you're renting anywhere in the city, you'll want to read this article and probably consult with a Real Estate Agent after.
Besides the financial benefits of owning a home, there are other benefit such as the pride of having your own home. You can curl up in your bedroom on bad days and celebrate with your friends when you get a promotion, or you can have romantic dates with your significant other in your home as well. All of your important life activities are always centered around your home, which is why the decision to purchase a home is one that requires a lot of contemplation.
Considering all these factors, it only makes sense to purchase a house where you can actually spend your life with comfort and joy. A home does not only consist of what you put in it, a home’s worth and value are also determined by where the home is located. This is why you should consider purchasing your house in the city of Vancouver, Canada. Here are a number of reasons as to why you should most definitely purchase a home in Vancouver.
Vancouver comes third in Canada’s most populous metropolitan areas. The population factor is always something you need to consider when thinking of purchasing a place somewhere. If you live in an area that has a small population, you might not enjoy a lot of facilities that populous metropolitan areas have to offer. Also if you feel uncomfortable with the fact that smaller and less populated areas allow people to know each other better, then you should opt for Vancouver because you can easily live an independent life in the city.
You can get lost in the crowd and not worry about the things you have to worry about when you live in a small community. Vancouver roughly has a population of 600,000 people. Its metropolitan population is at least 2.5 million people. What’s more is the fact that Vancouver has most recently been voted the ‘most livable city of the year’ by the Economist Intelligence Unit.
You should also focus on the kind of weather that Vancouver has so that you can decide whether or not you want to live there. Vancouver in particular is a place that has warm and sunny days. The area is a coastal city which is why it does not get hit by extreme weather. Even the winters in the city are rather mild and a little wet and overcast. It is also one of the world’s cleanest cities because the population of Vancouver and the authorities of the city take great care to preserve the beauty of the area. The citizens of Vancouver are compassionate and responsible people who play their part in making Vancouver one of the most livable cities in the world.
Vancouver is also a 45 minute drive from the border of the United States of America. It’s only 2.5 hours away from Seattle. The location is great and it is an English speaking city. It is also known as one of the most ethnically diverse cities in all of Canada. People of all nationalities, race and religion co-exist harmoniously with one another in Vancouver. These are only a few reasons as to why you should purchase a home in Vancouver and live in a place that makes you happy.
What's happening to the <a href="http://www.vancouverhousefinders.com/search/results/fj/?&sort_latest=true">Vancouver Real Estate Market</a> in the next 12 months?
CREA , Canadian Real Estate Association said in a publication to Realtors in British Columbia that based on their projection they expect 34,000 people to move to Vancouver and the Greater Vancouver Area in the next 12 months. Even though not everyone moving to the area will buy a home, it is important to note that more people seeking renters, will most likely boost the prices of rent up. If only a percentage of of those 34,000 people buy a home, that is also a huge boost of new home buyers entering the market and putting an upward pressure to the already expensive Vancouver real estate market.
Hani Faraj, Realtor<br />778-881-6781, direct2018-06-23T19:19:00-07:002018-10-18T12:22:38-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:4354What should I be looking for while interviewing an agent?Q. What should I be looking for while interviewing an agent?
A.Is it time to sell the beautiful place you call home? Are you intimidated by what the process entails or whether you will even be able to logically justify the sale? The right agent with the correct amount of patience, integrity, knowledge of the area trends and appropriate negotiation skills; can be very instrumental in cutting yourself some slack. Find the right agent and forget worrying about all the little details that are essential to make every decision an informed one.
It is not uncommon to find yourself tackling the advertising hype created by various agents to promote themselves. Cutting through the yard signs, public sponsored benches, online ads and much more can be very tough. So how do you select the perfect agent for the job?
Before we begin let’s be sure to take care of two most common things that are looked into by sellers:
Can the agent get me the highest listed price?
Which deal will comprise of the lowest commission?
These questions may seem completely reasonable but have very little to do with the competence of a real estate agent. Here is why.
It’s a fallacy that the agent can tell how much your house will sell for. He or she can only tell you about comparable, pending and active sales. You’re the one who really decides the selling price. An agent can suggest a generally attractive price at most. It is up to the buyers after that to drive the price in either direction. Some agents might even distort the truth a little. Ask for basic stats that lead to your agent’s suggestion. Agents that talk in terms of a price range rather than an arousing number are generally more truthful. This range is also determined by various factors like location, “temperature of the real estate market” and improvements pending or take care of.
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Also, there is always a reason behind an agent’s willingness to discount the real estate fee. Sometimes it is apparently the only way an agent can compensate for not being able to stand apart from the competition in service quality, knowledge / insights about the ongoing trends and negotiation skills. If you have a choice between two agents with a certain disparity in their credentials, wherein, one takes 5% and the other a 6% commission. Ask yourself, whether you’re willing to risk a greater fall in the price of your house than the 1% difference that made you go with the cheaper agent? Besides, you might gain greater exposure to the largest number of buyers by choosing an agent with a large advertising budget and company dollars to match it, which is ideal. Reaching greater numbers of buyers equals better chances of a good offer.
Some, however, might negotiate a lower rate under special circumstances like:
Your involved in more than one real estate transactions. Giving both the accounts to the same agent might fetch a discount.
The agents accept you as pro-bono case.
You are willing to do all the legal and advertising work along with take on all the expenses that arise therefore.
You have made a credible and verifiable promise to bring more business for the agent through referrals.
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With the basics are looked after and kept in mind, lets now focus on some queries that will make shortlisting a cake walk. Try to figure out which properties the agent Is good at selling. You want someone who specializes in what your selling. Ask your potential agent to provide you with a list of previous properties that he/she sold. Then compare how similar these properties were to what you want to sell in terms of price, location and features. It is important to know the time period for which these properties were on the market and; the difference between selling price and suggested price.
Now that we have gotten that out of the way, it is important to realize that whoever you chose to aid your sale is going to be around for a couple of weeks or maybe even more. Make sure that it is someone credible and someone who you like. Some ways are:
Check with appropriate regulatory bodies to make sure that the agent is licensed and/or has any disciplinary actions or complaints against him/her. This information can be found online.
Do your homework and try to gauge the agent’s knowledge of the area.
Ask about professional awards. Peer organized awards like those given by National Association of Realtors are also good endorsements. They ensure a certain standard.
Ensuring right credentials is essential. Like many fields, agents have specialties too and most go the extra mile to Specialize in certain areas.
Ex: CRS (Certified Residential Specialist): Completed additional training in handling residential real estate.
Find out how experienced the agent is. There is a risk factor involved with anyone who has been in business for less than 5 years as they might be learning on you. That might prove to be a flaw unless the agent’s current listings are outstanding and his/her talent is evident.
Once, you are sure that you found someone you feel comfortable with, it would be wise to sign a contract for the shortest possible period. Generally, 4 to 6 weeks should be sufficient to evaluate the agent’s performance. If priced properly and marketed appropriately, you should meet your most sincere buyer within this time frame.
<img src="https://assets.site-static.com/userfiles/1084/image/35.jpg" width="425" height="283" />
If you are looking for someone who is in the top 1% of the real estate agents in the country, Mr. Hani Faraj would be the professional for you. He is not only dedicated to his craft but also ensures that you have a comfortable experience. You wouldn’t be pushed or prodded but guided at your own pace.
Interested? <a href="https://app.acuityscheduling.com/schedule.php?owner=15579442">Book</a> an appointment with Mr. Hani Faraj today to be relieved of any stress. Be rest assured to have an amazing experience that you will be thankful for when you buy/sell your home.2018-06-05T19:47:00-07:002018-10-29T17:00:24-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:4344When is the best time to sell my home? Does it matter?Selling a house in this day and age can be difficult. One needs to think not only about staging of an apartment, the pricing but also when is the right time to sell a home.
It has been found that certain times of the year can be better to list a home than others. It can be difficult to comprehend that idea but stay with it. For example, you should not put up a home on the market during Christmas time because it’s a really bad time. Not because it won’t sell during the holidays but because there will be a small pool of buyers only. Hence, it would be a less than optimum time to sell.
<img src="https://assets.site-static.com/userfiles/1084/image/sell_stat.jpg" />
As found out by the HomeLight National Agent Insights Survey, research states that “Springtime” is the best time of the year to list a home. This is when most residents are gearing up for wanting to make new investments. If not spring, the second best is the fall market which is right after the Labour Day weekend. Unlike popular belief, summer is not the best time to put up your house for sale. This is because Summer is the time for family vacations, get-togethers, hanging out with friends and other improvement projects.
What is the best time of the month to list a home?
If you want to be extremely analytical about and break it down, a week after your <a href="https://www.vancouverhousefinders.com/Best-mortgage-rates/">mortgage</a> payment has been made or the second week of the month would be perfect.
It’s possible to sell your home within 21 days. After you have made the mortgage payment for the following month as that would be the last payment you would ever make. If you are moving or buying a new home to close simultaneously, you would be able to close escrow at the end of the month. Because of the way interest calculations are handled, you will not have a mortgage payment on your new home for another month.
It will just be like receiving a free month even if you are paying interest.
What is the best day of a week to list a home?
The first day of the week though named as “Monday Blues” is not the most popular vote. The reason why it is not the best day is because people are less focused on Monday. That is because they are usually adjusting to the weekend having been over and trying to get back to work. Some believe that Tuesdays are a good day to break out a new concept. But, contrary to popular belief, Mondays and Tuesdays are not the best days to list your home.
But, the weekend will also not be a good time to list your home for sale because most people have plans for the weekend or usually want to relax. Hence, that leaves us with Wednesday, Thursday or Friday.
Usually Thursdays are day off for real-estate agents as well as some work throughout the weekends too. Wednesday is a good day only when it's the day before Thanksgiving; it's still hump day in many people's minds.
That leaves Friday. This is usually the best day as many are looking forward to the weekend but also have enough time to browse through listings and make a few calls.
<img src="https://assets.site-static.com/userfiles/1084/image/best_time.jpg" width="956" height="720" />
What is the right time to list a home?
Not just any time would work. The best time is at 12:01 in the morning on a Friday or Thursday at midnight. Usually, you can prep your listings 1-2 days before to ensure it’s ready and all the links are working. You can use an automatic listing so you do not need to be awake at midnight and keep watching the clock at all times.
What this helps is that if you launch at midnight, many of the potential sellers will receive notifications the first thing when they wake up. Since most sellers are usually looking at a Friday to buy a home, they will receive a notification immediately. It usually so happens that you will receive calls from buyers right, left and centre. Also, buyers are motivated to check out brand new listings.
Another important tip to keep in mind is that before you put up a listing or put up your <a href="https://www.vancouverhousefinders.com/selling/">house for sale</a>, ensure that you don’t have any missing data or loose ends tied up. Check out our article about <a href="https://www.vancouverhousefinders.com/what-do-i-need-do-i-put-my-house-market/index.html">What needs to be done before I put my home on the market?</a>
Though we have delved into what would be the perfect season, week and time to put up your house for sale. It is important to remember that you should only choose that option when YOU are ready for it. When you feel like it’s time to bid goodbye and move on to newer prospects. Because if you delay this process, it is only a bad name in the market as the number of potential sellers will decrease when they realize how long the house has been on the market. They will assume that there is something wrong with it which is something you certainly do not want.
But, whatever you may decide, it is necessary to look at selling your home as a business opportunity. You need to understand the demand, the ways to convince the potential buyers and use techniques to get the right price. These techniques also include deciding upon the right time to sell your home and matching it to any payment schedule or renovations that need to be completed.
If you need more assistance or want to reach out to a real estate agent who will be committed, dedicated and innovative then book your appointment with Mr. Hani Faraj <a href="https://app.acuityscheduling.com/schedule.php?owner=15579442">here.</a>
He is one of the best real estate agents in Vancouver and is recognised as the top 1% agents available in the market.
What are you waiting for?
This is the right time to reach out to a professional and be able to sell your dream home to a potential buyer today. If you have any queries or suggestions, please feel free to reach out to us anytime.2018-05-31T21:12:00-07:002018-10-18T02:17:08-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:4335Leave Your House and Live Your Life: 5 Benefits of Selling Your House in Your 60s<img src="https://assets.site-static.com/userfiles/1084/image/senior.jpg" width="300" height="200" />
Many seniors are calling us with questions on how to sell their property and how it could be advantageous for them. Their concerns especially, but not limited to, is they have accumulated so many items in storage and in their garage, they have no idea what to do with it.
Generally, people are afraid of change and those who retire in their 60s are afraid to let go of the home they have built and/or lived in for several years and often overlook the benefits of starting over again.
The current real estate market in Vancouver and the Fraser Valley is crazy with prices reachingnew records every single month, it is becoming more and more appealing to sell your home and consider a condo. We are here to simplify the entire process and to give some ideas to objectively consider trading in your old home for a new house or apartment.
Here are 5 benefits to selling your house upon retirement that you could think about:
Financial Practicality.
Maintaining a big space also requires bigger expenses. Maintaining a house, regardless of the size, requires constant repairs, updates and cleaning. The older the property is, the more maintenance is required as well. You will also continue to pay utilities, yearly property taxes, insurance and mortgage if applicable. Even if you have more than enough retirement savings, you could be spending more than necessary to maintain your place.
Think about the money you will be spending on spaces you do not always use.
Think about all the other things you can enjoy with the money you worked for and saved up to retirement. In some cases, you can still use the money you have to invest so that you continue to earn after retiring.
Less Space Is More.
There are many inevitable changes that happen as people age and that include changes in the physical, physiological and mental aspects. Taking care of one’s self becomes harder as years go by. You will eventually need the assistance of others to move around and do things.
Many of the stuff you own now will prove little to no use for you as years go by.
For instance, the house you own must have been bought with more residents at that time. How many are you left living in that property? Think about the bedrooms rarely or not used at all. Think about the bigger living room, kitchen, dining room and other common spaces that you do not occupy as much anymore. Think about how tiring moving around becomes.
Opportunity To Design Living Space According To Current Needs.
Selling the house you currently own gives you freedom to choose a house or a condo that would suit your current need and lifestyle. Moving on also gives you the option to live in a place you have wanted to reside in.
Do you remember the time you last looked for a house or a condo? When you decided to live in the home you live in, you were most likely in a different situation. You could have considered proximity to your office or other places such as schools when you chose your house. Now is the perfect time to think about where you want to be at this point.
Have you always wanted to spend your retirement years in a house or a condo by the beach? What about a place with ocean or mountain views. Have you dreamed about moving to a busier city? We have a client that did a complete turn-around and moved to downtown Vancouver so he can walk everywhere and he wanted to be close to the Vancouver Art Gallery. Would you rather be in a more laid back city like Langley, White Rock or Maple Ridge? Moving out of your current house could also mean moving into a better place for you.
Perhaps you want a smaller garden or community garden to attend to. Perhaps you want a smaller kitchen with lesser but essential utensils. Perhaps you want to let go of the stairs.
Creating New Memories.
People get sentimental and more often it is the memories made in their houses that make it harder for them to think about selling their homes. It is often the happy times that happened in the different areas of the house that stop them from giving up the space. Remember that nobody can take away those memories from you.
Cook with your loved ones in your new kitchen. Watch TV with them in your new living room. A break in routine could be refreshing. A change in space and pace could make you happy.
A house is just a structure, home is what you make it. You create your home wherever you may be.
The Joy of Giving and Sharing.
There is an opportunity to give and share when you put your house for sale. Look at all the things you have collected throughout the years inside the house. Take with you the most basic stuff you can’t live without. There are other people who will benefit from the other things you can do without. Think about the family members, friends and institutions that would want and need them. Sometimes we negotiate furniture or appliances as included in the selling price when selling.
Also, you give other people the chance to make happy memories in the house you live in. You allow people who once needed the space like you did to enjoy what you did with the home.
I once sold a house and my client didn’t care about selling it for the highest price, they wanted to sell it to a family that will benefit from it the most. The children write a letter to my sellers saying how they could build a swing set in the back yard, and how they can carve their names in the tree trunk. My sellers were moved and even though the sellers received multiple offers and the offers were for a higher price, my sellers wanted to give the house to the family that would love the house as much as they did! Imagine the impact you would make on a family like this.
<img src="https://assets.site-static.com/userfiles/1084/image/senior2.jpg" width="460" height="307" />
Embracing change is not bad but there are many aspects to selling and buying a property. There are many things to take into consideration such as current value in the market. While it is practical and beneficial for others to sell their houses upon retirement, for some people it will not be applicable. Some people would love to make their properties their legacy. Other clients of ours have decided to leave their home to their children to keep forever.
There are also different rules and laws that govern the Real Estate Industry. There are exemptions that could apply to you and some don't. It is best to consult a professional real estate agent when you are planning to sell and/or buy any property.
A good real estate agent will be able to help you reach the right decision and make the process easy for you.
About the author:
Hani Faraj and his team are known to take care of their clients and take care of them like family. They provide clients with junk removal, staging, they can help with booking a storage room, and even book movers. There do 38 things to ensure the home is marketed and sold for the highest price and never waiver on customer service or the highest standards.
They go the extra mile to find ways to make sure every transaction is beneficial to all parties involved. Hani Faraj will make sure that the property you sell and the property you buy suits your needs and requirements.
Hani Faraj and his team also takes care of your property’s advertising and marketing needs. Their services include taking professional photographs and creating virtual tours and posting on different websites and social media to generate interests and leads. They also offer free staging of your home which includes decluttering and rearranging to attract more buyers.
To know more about Hani Faraj and his team, check the website: <a href="http://www.hanifaraj.com/">http://www.HaniFaraj.com/</a>
If you are, or anyone you know would be interested to sell or buy any real estate property, you can conveniently schedule an appointment by clicking the button below.2018-04-17T21:30:00-07:002018-10-31T13:50:30-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:4334Five Steps To Holding A Successful Open House<img src="https://assets.site-static.com/userfiles/1084/image/open-house.jpg" width="622" height="350" />
An open house is one way that REALTORS® attempt to expose a home to multiple buyers at once. Not only is an open house designed to market the home in a way that differs from a simple listing, but it also opens the door for competitive offers as more than one buyer could potentially fall in love with a home on the same day.
Step # 1: Make Your Home Shine
A successful open house begins with cleanliness, so make sure that your home is ready to be shown. This means the clutter should be removed and the home should be “staged” to allow potential buyers to envision themselves living in a beautifully decorated home.
Step # 2: Cross Your T’s & Dot Your I’s
Your next step to an open house is making sure that the price is right. If the day is successful, you may be fielding offers within hours, so be ready to make a deal. Most open houses are advertised locally in order to attract buyers looking to move into the area, which means a newspaper ad may have a lot of potential. The advertisement should feature a photo, along with text that outlines all of the unique and positive aspects of the home. The date, time and clear directions should also be given in the ad, along with the REALTOR’S® contact information. Before your ad goes to press, make sure that you have proofread it to ensure accuracy.
Step # 3: Spruce Up Your Curb Appeal
As buyers begin to show up for your open house, they will want to see attractive landscaping with an inviting atmosphere. This will make them eager to see what’s inside the home. The front yard should feature an Open House sign with colorful balloons, but don’t forget to place signs along the street (with permission, of course) to help potential buyers find you.
Make sure the lawn is freshly cut and flower beds are well kept. Any clutter, including bicycles or yard care equipment should be removed to produce a visually pleasing image of the home. Make sure your windows and doors are sparkling clean and free of fingerprints. Nothing should distract buyers from the prize, which is your house.
Step # 4: Feed Your Guests
It’s customary for every open house to have complimentary coffee or other refreshments and/or cookies. The smell of freshly baked cookies will give buyers the feeling of being at home—exactly the type of reaction you want when trying to sell your home.
Step # 5: Reading Material Is Golden
Your REALTOR® should provide a business card and/or informational sheet for each potential buyer that tours your home. If this is not a service that they offer, take a few minutes to design your own flyer using a computer and print out some full-color circulars to offer interested parties as they arrive. You should also provide copies of any appraisal, inspection or other information about the home that potential buyers would find interesting.2018-04-11T20:51:00-07:002018-10-31T13:51:45-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:4299How Hiring a Reputed Property Agent can prove to be beneficial?Undoubtedly, buying and selling property is not a child’s play. Despite the complexities, some people still may think about making the real estate decisions on their own. This is truly an inappropriate decision to make. This is because a job that a professional is expert at is not a forte of a layman, especially when it comes to real estate property.
Therefore, it is always advisable to take assistance from Real estate agents. They are the intermediates that help people in making valuable property decisions and find a profitable property easily.
Here are a few more benefits of hiring a <a href="https://www.vancouverhousefinders.com/agents/hanifaraj/">real estate agent</a> for buying a property –
Knowledge and Expertise
Knowledgeable and expert professional will help reduce your hassle of gathering significant information about real estate. This is because an expert agent will do the job for you. Within no time, the expert will provide you complete details about real estate and let you know about the valuable properties.
Handles Intricate Paperwork
Buying and selling of properties involve a lot of paperwork. As for a layman handling the complex real estate papers is very difficult, this is why hiring a property agent proves to be beneficial. As they have expertise in doing this job, therefore, they can handle the paperwork in the best possible way.
Check Also :
<a href="https://www.vancouverhousefinders.com/blog/6-important-reasons-why-you-should-use-a-realtor/">6 Important Reasons Why You Should Use a REALTOR®</a>
<a href="https://www.vancouverhousefinders.com/blog/important-questions-to-ask-a-real-estate-agent-during-an-interview-seller-perspective/">What Should I Be Looking Out When Interviewing Agents? (Sellers’ Point Of View)</a>
Getting the Best Deal<a href="https://www.vancouverhousefinders.com/blog/important-questions-to-ask-a-real-estate-agent-during-an-interview-seller-perspective/"></a>
Property prices vary from one region to the other. Therefore, keeping a track of the property rates in different locations is a difficult job for a buyer. This is where an agent’s thorough knowledge and experience come into the picture. All in all, it will help you get the best deal.
<a href="http://www.vancouverhousefinders.com/" target="_blank" rel="attachment wp-att-511"></a><img src="https://assets.site-static.com/userfiles/1084/image/4.jpg" />
So, what are you thinking about? Sounds beneficial, isn’t it? Search for a reliable professional who can help you in making good property decisions and invest your hard earned money in a valuable property.
<a href="https://www.vancouverhousefinders.com/">House for Sale Greater Vancouver</a> - If you are looking for a house to call your own in the wonderful city of Vancouver, you have come to the right place. we have a wide variety of properties to choose from, all of which are sure to fit your needs and expectations. Whether you are looking for a single-family home, a townhome, or an apartment, we have something for you.2016-09-20T00:09:00-07:002022-04-22T03:05:20-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:42957 Reasons Why Buying and Selling House Online is Better<img src="https://assets.site-static.com/userfiles/1084/image/image-745161328-854531.png" width="1000" height="666" />
Traditionally buying or selling houses, buildings, and real estate’s were dependent upon agents. But now, no more!
Indeed that was back in the day, but when we talk about the advantages of doing this online, you would certainly realize why the traditional method is outdated.
So, curious to know the reasons? Well, here are the top 7 reasons that have made Selling & buying a house completely online a better option than the traditional method –
There is a mass audience of buyers and sellers, which proves to be advantageous for the property owner.
Price quotations can easily be taken online according to one's budget.
Based on geographical constraints, size, the number of bedrooms and bathrooms, price, condition, etc. search process can be made fast.
No matter what is the condition of the property, the seller can easily sell the property.
Check Also :
<a href="https://www.vancouverhousefinders.com/blog/how-much-it-will-cost-of-selling-a-house/">Cost of Selling a House</a>
<a href="https://www.vancouverhousefinders.com/blog/how-long-will-it-take-to-sell-my-home/">Average time to sell a house</a>
5. There is not much of waiting time for a property to be sold or bought. This is because of the number of potential buyers. Hence, there is an increased chance of making sales in a very reasonable time.
6. Easy comparisons can be made. With a host of properties listed online, it becomes easy for an individual to either buy or sell the property after getting the satisfactory prices.
7. No overhead costs! There is no need to travel down to Vancouver just to see how a particular site looks as pictures are available on the site. This is quite helpful for the sellers as they won’t need to get into the hassle of entertaining unwanted potential buyers.
Read Also : <a href="https://www.vancouverhousefinders.com/blog/the-guide-for-first-time-home-buyers/">Tips for First time home buyers</a>
Hence, no more need to look up for contact information in giant telephone directories or from within your personal network. You can easily fetch optimal results online that too with a quicker, simpler, more convenient way.
Thus, making online real estate searches is definitely a better option than traditional methods.
If you are still unsure whether to sell or purchase a house online or offline, you may contact a <a href="https://www.vancouverhousefinders.com/agents/hanifaraj/">real estate agent Hani Faraj</a>, you can also be reached directly at (778) 881-6781.2016-09-13T23:25:00-07:002022-04-18T04:09:01-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:4273An Info-Graphic to Explain the Canada Housing Crisis.As obtained from RBC, the info-graphic clearly summarizes the real estate market in Vancouver in terms of Housing Affordability that is basically is the cost of owning a house at the market price as a share of disposable income.<br />It’s an inverse equation such that the higher the number, the lesser the affordability of homes is possible.
According to the information, the country is experiencing it’s first highest housing affordability as compared to Q2 2010; high which is almost 47.1%.
Not only that, another shocking discovery is the fact that in Canadian Housing hot spots, the housing affordability is the highest every recorded in the nation at a 87.6% while as in the modest areas have been recorded as the most affordable.
<img src="https://assets.site-static.com/userfiles/1084/image/An-Info-Graphic-to-Explain-the-Housing-Affordability-Crisis.jpg" style="display: block; margin-left: auto; margin-right: auto;" alt="Canada Housing crisis" title="Canada Housing crisis" />2016-07-22T19:27:00-07:002022-04-22T03:34:56-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:4271Rockland Mansion Auction – Yay or Nay?<img src="https://assets.site-static.com/userfiles/1084/image/Rockland-Mansion-Auction--Yay-or-Nay.jpg" />
Recently, The Rockland Mansion in Victoria was called off auction because only one bidder had shown up for the same on 22nd June 2016.
The famous 7200 square foot heritage house is located on 906 Pemberton Road which is said to fetch a safe $2 million.<br /><a href="http://www.vancouverhousefinders.com/agents/">The real estate agent</a> Andy Stephenson who is responsible for the sale represents the Sotheby International Realty Canada.
The auction was attended by almost 60 spectators held in the 32-foot long ballroom that is a beauty on its own.<br />The event had a lively atmosphere combined with live piano sessions and champagne pouring out of Prosecco glasses.
The real estate agent was enthusiastic about the auction being a great success due to the traction gained in terms of 2000 views on the six-bedroom house during open house season or even 2600 hits on the video of the same property posted online.
The auction certainly contributed to increasing the <a href="http://www.vancouverhousefinders.com/resources/">value of the property</a>, especially in terms of the emotional value.<br />The property is supported by two strata titles, ornate fireplaces, billiards and media room, a 2000-bottle wine cellar and last but certainly not the least, a mahogany wall panel installed in the heart of the beautiful mansion.
We can only hope that the Rockland Mansion is able to get a fine sale and a beautiful home. But, one can also conclude that the auction came at a time when the <a href="http://www.vancouverhousefinders.com/contactus/">Real Estate Market</a> in Greater Victoria is consistently setting new prices and records which can offset any new marketing gimmicks.2016-07-22T19:16:00-07:002018-10-31T14:47:48-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:4269Spike in Recreational Properties buy Generation X in Vancouver BC<img src="https://assets.site-static.com/userfiles/1084/image/Spike-in-Recreational-Properties-buy-Generation-X-in-Vancouver-BC.jpg" width="800" height="532" />
According to a research conducted by Royal LePage, it has been identified that more than two-thirds of potential recreational property has been purchased by individuals between the age bracket of 36 and 51 while as the remainder is made up of baby boomers between the ages of 52 and 70.
Recently, The <a href="http://www.vancouverhousefinders.com/contactus/">Vancouver Real Estate Market</a> has been on a rocky road with individuals struggling to find affordable housing as well as the disposable income to afford the same. It has also been recorded that disposable income for individuals below 35 is practically nil in 2016.
Although in retrospect, the older generations seem to have a lot of disposable income, as they make up for the majority of the <a href="http://www.vancouverhousefinders.com/buy/">recreational homebuyers</a> as observed by the spike in the increased sales in recreational properties that are predicted to surpass those of 2015.
It has also been observed that almost 10% of the recreational sales are made up for foreign buyers, 64% of which primarily originates from America who wish to own vacation homes up north.
In conclusion, it is pretty fascinating to note that majority of the participants were investing in recreational properties or vacation homes due to their retirement plans.<br />As would be the case, many believe the current generation to be the driver of the <a href="http://www.vancouverhousefinders.com/sell/">spike in sales</a>, and mostly due to retirement being a purchase consideration.
It will be interesting to see what is up ahead for the real estate market in Vancouver in 2016.2016-07-22T18:57:00-07:002018-10-31T14:54:20-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:4270Interjection by Government to Solve Affordable Housing Problem in Vancouver BC.<img src="https://assets.site-static.com/userfiles/1084/image/Interjection-by-Government-to-Solve-Affordable-Housing-Problem-in-Vancouver-BC.jpg" width="610" height="320" />
Vancouver is in the middle of a huge real estate crisis due to the lack of <a href="http://www.vancouverhousefinders.com/finance/">affordable housing availability</a> which has been a result of various reasons like fixed rental agreements, foreign buyers etc.
On June 26, 2016, it has been announced by Rich Coleman, deputy premier and minister of Natural Gas Development and Housing that almost $150 million will be utilized over the next 2 years under the Affordable Housing agreement to tide over the crisis.
The Agreement includes an addition of $63 million that shall be utilized for the following demarcations:
$50.9 million to be utilized for Repairs for the Aging Social Housing Units.
$25.2 million to be used for repair, construction and adaptation of affordable housing for senior citizens.
$10.9 million to be utilized towards the construction and renovation of shelters, transitions homes for victims of violence.
The stats are astonishing for the year 2016, with an almost 41.7% increase in the 10-year sales average for the Real Estate Board of Greater Vancouver while as the cost of the median household income to cover ownership costs associated to a single detached home is almost 119.5% according to a recent report by RBC Housing Trends and Affordability.
Hopefully, the interjection by the federal government will help nullify the affordable housing problem and help those who can now only <a href="http://www.vancouverhousefinders.com/contactus/">dream of owning a home</a>.2016-07-22T18:07:00-07:002018-10-31T14:56:41-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:4268Housing Market Update - May 2016<img src="https://assets.site-static.com/userfiles/1084/image/Housing-Market-Update-May-2016.jpg" width="990" height="500" />
The real estate market in Metro Vancouver is at a high with homes that continue to sell at an unprecedented rate.<br />The sales have been on the uprise with a nearly 18% increase as compared to last year and surprisingly almost more than 35% above the 10-Year May sales average and ranks as the <a href="http://www.vancouverhousefinders.com/resources/">highest-selling May Record</a>.
It’s been observed that home sellers have become more active in recent months such that almost 6,289 new listings have been added to the MLS in May, which is almost 12% higher than last year.
Since the market is vary to strong economic and job growth in metro Vancouver, the benchmark prices for all residential homes have rose by nearly 30% over last year and just under 37% attached homes have seen the largest increase over this period. In terms of Condos and townhouses, sales have increased to about 22% and 25% respectively.
For better understanding of the strength of the <a href="http://www.vancouverhousefinders.com/">Real Estate Market</a>, measurement of the home buyer field by home sales and home seller supply by the number of home listings results in the “sales to active ratio” which amounts to 62% and is extremely reflective of the strong seller’s market.
Many analysts are of the opinion that downward pressure on home prices occur when the ratio dips below the 12% mark and mostly home prices experience an upward pressure when it reaches 12% for a sustained period of time.
Lastly, the reason for the difference in demand in today’s market is due to individuals finding houses at different levels of intensity in different regions.<br />To explain further, In <a href="http://www.vancouverhousefinders.com/results-gallery/?city=63424&photo=1&status=A">West Vancouver</a>, the benchmark price of a home is almost 3.4 million which is more than 65% over the last 5 years in addition to the benchmark price of a condo is more than 42% since 2011 while as the market in Maple Ridge is on a low, with the price for condos in the area being on a 1.6% decrease over the last 5 years respectively.
Another pattern that has been identified is across Metro Vancouver wherein the price of town house in North Vancouver has grown to 35% in the last 5 years due to the higher sales to active listing while, as the East Townhomes have grown to 45% in the same period.
As a home buyer or seller, it is extremely important to be aware about the market conditions in the neighborhood to make an informed decision.
Stay tuned for more information!2016-07-22T17:54:00-07:002018-10-31T15:03:40-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:4267Tips to Clean Your Kitchen!<img src="https://assets.site-static.com/userfiles/1084/image/Tips-to-Clean-Your-Kitchen-1.jpg" />
Whether you are a bachelor, running a household or just a Cleanliness Freak, we have some of the best tips to clean kitchen
You don’t need to worry about that coffee stain or Google about how to clean kitchen microwave because we have you covered!
1. Clean a Cast-Iron Pan<br />Often due to slow cooking, Cast-Iron Pans are very hard to clean afterward, but only a PRO Cleaner knows that soap or liquid detergent shouldn’t be used.<br />Instead, the perfect solution to clean any pan is to first use salt and scrub it with<a href="http://www.vancouverhousefinders.com/buy/"> </a>some paper towels, post which you could use some oil to bring back the shine on it’s coating.
2. Cheese Grater<br />Many a time, while making pasta, grating cheese may just become optional, because of its cleaning dis-advantage. But, there is a simple fix to the same, just keep a pastry brush handy which can be used to scrape off any excess cheese, and another scrub with some liquid soap will help it keep clean.
3. Coffee Stains<br />One of the most sticky situations in any kitchen is the coffee stain which can be on any counter or coffee table, and can be easily cleaned with using a solution of equal part salt and vinegar.
4. Microwave Cleaning<br />Another PRO tip to clean the microwave is to put in some wet towels inside the appliance, and then once you switch it on, the water evaporates leading to the grime and dust to loosen up and melt which can then be easily cleaned using a wet cloth dipped in liquid detergent.
5. Garbage Disposal<br />We are sure you usually don’t even bother with the garbage disposal bin, and just give it a cleanse with water. But, think again, the bin holds bacteria and fungus, which can infect the surroundings, especially the kitchen, and it’s components.<br />The best solution is to grind ice-cubes made up of equal part vinegar and water so as to disinfect the bin and keep it disease free!
We hope you will use these kitchen cleaning tips and treat them as the Holy Grail when you next are worried about a clean kitchen!2016-07-22T17:36:00-07:002022-04-18T04:57:17-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:4266Networking Done The Right Way! <img src="https://assets.site-static.com/userfiles/1084/image/Networking-Done-The-Right-Way-2.jpg" />
As a real estate agent, networking is extremely important as it’s an integral part for you to grow the business and have satisfied clients who will spread the word forward because as they say, word of mouth is the most effective and most pocket friendly publicity!
A lot of times, it so happens that networking is often misunderstood with “Socializing” because we tend to not understand the fine line between trying to impress the other one with trying to build a relationship.
Though everybody has different styles, there are some tips each one of us can follow to build a long-lasting relationship.
1. Maintain Eye-Contact
An extremely important tip, maintaining eye contact showcases confidence and respect that goes a long way in <a href="http://www.vancouverhousefinders.com/resources/">building trust</a> at the very first instant.
2. Clothing – Formal Vs. Informal
It may seem like at the turn of this century, what you dress does not describe your personality, but it’s always advised to dress appropriately according to the situation. For example, if it’s a mixer then casual clothes will do, but if it’s a conference, suit up!
3. Always be Aware.
When immersed in a conversation with someone, always remind yourself to check if you are talking too much about yourself or your business or if you are not taking the conversation in the right direction.<br />It’s always advisable to set the tone of the conversation from the beginning so you are well aware of what you are getting into and don’t try to <a href="http://www.vancouverhousefinders.com/contactus/">flaunt information</a> that is not supported by facts.
4. Contact Information
Be sure to leave your contact information, especially by the end of the conversation so as to let the other one know expressively well how to get in touch with you, especially if you can exchange business cards or numbers.
So, these are the top 4 tips from our side on How To Get Networking Right!<br />We hope you will inculcate these tips into your conversations and have successful networking opportunities!2016-07-22T17:32:00-07:002018-10-31T15:13:40-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:4261Why Real Investors Think Vancouver Is a Smart Move<img src="https://assets.site-static.com/userfiles/1084/image/shutterstock_93224269.jpg" width="1000" height="667" />
The soaring sales and home prices in Vancouver have received a lot of attention lately. No doubt Vancouver is a vibrant city located in picturesque surroundings, but that’s not the whole story.
Many real investors have found other things to like about the city, including some of its investment-friendly policies.
Here are four reasons (besides the fact that Vancouver is a great city) that domestic and foreign investors like the Vancouver real estate market.
Low Interest Rates
Canada has low interest rates and it appears that The Bank of Canada wants to keep interest rates. Why? Low interest rates weaken the Canadian dollar against other currencies and encourage exports. The byproduct of this policy is domestic mortgage rates should stay low for the foreseeable future. Lower interest rates mean more buying power for homebuyers and investors. Even though Vancouver home prices are high, the low interest rates still make the properties attractive investments.
Foreign Investment
About 5 per cent of investment in the B.C. housing market is foreign money according to the B.C. Real Estate Association. But this is just an estimate, as the Canadian government does not track the data. Canada is one of the few in-demand international cities that does not measure or seek to limit foreign investment and ownership.
As B.C. Premier Christy Clark said recently the government isn’t going to change its data collection policy because it could cause home process to decline. No matter what your personal opinion is of the policy, that is good news for homeowners and investors who want to see the values of their homes go up or at least not go down.
Low Property Taxes
Foreign investors also find Canada’s property ownership and tax laws attractive. Unlike many other countries Canada does not penalize or restrict foreign ownership of property. Vancouver also has some of Canada’s least expensive property taxes, which benefits nationals, as well as internationals.
Limited Land
As any good real estate investor knows, land is a fixed commodity. You can’t produce any more than there already is. Sure, investors who invested in Vancouver the earliest reaped the biggest gains. But the question now is will Vancouver home prices continue to rise in the future? Even if they don’t climb at the same rate as they have recently, many investors believe the value of their housing investments will continue to rise.
- Hani Faraj
Vancouverhousefinders.com helps homebuyers and investors make the right move. Our advanced search site and timely market updates gives you fast access to the kinds of homes you are looking for, even before they hit the market. We also keep you aware of all price changes. Plus, we have a diverse team of agents. with unmatched expertise in the local markets they serve. We also know how to find properties that offer the most upside potential and negotiate solid deals on for our clients.
Call us 778-800-2587 now to get started or complete our online contact form and we'll contact you. 2016-07-15T19:55:00-07:002018-10-31T15:36:01-07:00Hani Farajtag:vancouverhousefinders.com,2012-09-20:421349 Questions to Ask Your Mortgage BrokerCheck out the answers to the top questions you should ask before choosing a mortgage. This is a book I write and Published on Kindle digital publishing. It's your for free.
1. What’s the best rate?
Questions about <a href="http://www.vancouverhousefinders.com/Best-mortgage-rates/">mortgage rates</a> are the most common questions I get as a mortgage broker. Unfortunately, clients who are only concerned about rates often overlook other aspects of their mortgage that are even more important. Mortgage rates are complicated, and getting the lowest rate doesn’t necessarily mean you’re getting the best deal. There are fixed rates and variable rates; there are also closed mortgages and open mortgages. These factors must all be considered together in order to provide the best possible mortgage for a borrower. This is why borrowers need to think about their short- and long-term goals, and discuss them with their broker. This allows us to fill you in on the right options and find the best lenders to meet your needs.
2. Which lender has the best rate?
Not all lenders are created equal. The same is true for mortgage products which, along with promotions and rates, can change often. As a mortgage broker, it’s my job to stay on top of the changes in the mortgage market and educate my clients about how those changes affect them. Today’s lowest-rate lender may not be the same tomorrow.
3. How do mortgage brokers get paid?
For most transactions, banks pay mortgage brokers directly for sending them a client. This means that borrowers rarely have to pay a mortgage broker. That said, for clients with past credit problems, getting a mortgage may involve additional lender and broker fees. This is why it pays to have great credit! Having a mortgage broker helping you with these types of transactions can be helpful as they can sort through and get you the best deal.
4. Why should I use a mortgage broker?
Mortgage brokers provide a few key advantages for borrowers. First, they provide a single source of contact for all your mortgage needs. Mortgage brokers also have access to more products than a typical lender at a bank, and are less likely to be biased toward particular products. As a mortgage broker, I work for my clients - not a financial institution - so I always have their best interests at heart. Plus, the relationship doesn’t end when you get the loan – I work with you until your new home is paid off. Finally, mortgage brokers shop around for the best rates so that you don’t have to. This also allows you to avoid having several lenders pull your credit, which can put a dent in your credit score.
5. What is a mortgage broker?
A mortgage broker is a licensed professional who specializes in obtaining financing for homebuyers. As a broker, I work with clients to find the right lender to meet their unique needs. Mortgage brokers are provincially licensed and regulated, and are often subject to ongoing educational and professional development requirements. We also adhere to high professional standards and a strict code of ethics.
6. I have good credit. Why do I need a mortgage broker?
Broker used to be the public’s “Plan B” when it came to financing. This is no longer the case, and many clients now call a mortgage broker before visiting a bank. According to a study released by Maritz Research in 2011, negotiating a mortgage with a broker resulted in a rate decrease of up to 1.4 percent. That’s a savings that can add up to tens of thousands of dollars over the course of your mortgage.
7. Does using a mortgage broker cost me money?
A mortgage broker’s services are usually free unless a client has very bad credit. In such cases, the lender may charge a fee. However, your broker will strive to provide the best rate possible in order to minimize the overall impact of this fee.
8. How many lenders do you work with?<br />It depends on the broker. Some companies work with as few as 30 lenders. I have access to up to 70 banks, credit unions and trust companies. This allows me to offer up to 319 mortgage products to help meet buyers’ individual borrowing needs.
9. Do you prefer some lenders over others because they pay you more?
Most lenders pay the same or similar rates. Plus, brokers earn ongoing business by providing quality service to their clients, which is why we always put their interests first.
10. How much can I afford?
This is really easy to determine. Take your yearly pre-tax salary and multiply that by four. That number gives you an idea of the size of the mortgage you may qualify for. Some lenders will allow a client to use up to five times their income. This calculation depends on the lender’s rules and the borrower’s credit.
11. What is a home inspection and should I have one done?<br />A home inspection is an optional privilege home buyers can ask for when putting in an offer to purchase a home. A home inspection is usually completed by a licensed
professional, who inspects the home for electrical, plumbing, ventilation or structural problems. Sometimes, home inspectors just confirm a buyer’s confidence in a home. However, home inspectors can also save people thousands of dollars - and even prevent some buyers from going through with the purchase of a flawed home. At the very least, a home inspector will ensure that buyers are informed about what kinds of repairs their home might need in the coming years. I always encourage people to find a home inspector with a background in construction. This helps ensure they have the experience to evaluate your home from top to bottom, inside and out.
12. What is the minimum down payment I need to buy a home?
According to the new mortgage rules, borrowers need a minimum down payment of 5 percent of the home’s sale price. The most common way to come up with this cash is to save it, but there are programs that offer cash back to homebuyers when the home sale is closed. This option may be benefit borrowers with limited funds who are committed to owning their own home.
13. What is mortgage insurance? There are two types of mortgage insurance out there. You may have heard of the Canadian Mortgage Housing Corporation (CMHC). With this program, borrowers pay a premium of 2-3 percent on a mortgage if they have a down payment of less than 20 percent of the price of the home. This insurance allows what are considered higher-risk borrowers to gain access to home financing. There is also mortgage insurance to protect homeowners and their families in case the borrower dies before paying off the mortgage. Some borrowers enjoy the security this can provide for their family.
14. What is a conventional mortgage? In Canada, a conventional mortgage refers to a loan in which the borrower puts at least 20 percent down and doesn’t have to pay a CMHC insurance premium.
15. How does bankruptcy affect my ability to qualify for a mortgage? Most lenders will still consider clients that have had a bankruptcy in the past as long as they have been discharged and have been rebuilding their credit for at least two years. A good way to rebuild credit is to obtain a secured credit card for $1,000, use it for regular expenses and pay it off on time. You need two credit cards or loans, also known as trade lines, in order for a bank to reconsider you for a mortgage.
16. I pay child support. Will that affect my ability to qualify for a mortgage? Yes. Child support can detract from the payer’s ability to attain a mortgage, but it benefits the party who receives the support. This is because mortgages are granted based on what you can afford to pay. Paying child support will reduce a borrower’s ability to afford a mortgage, while receiving child support will improve a borrower’s income and, therefore, his or her borrowing power. For example, if a divorced husband is paying child support of $1,200 per month, this will affect his ability to qualify for higher mortgage amount. The opposite is true for his former spouse, who is receiving the child support as part of her income.
17. What factors does a mortgage broker consider in determining my loan? Your ability to qualify to buy a home is based on your credit score, your income and employment stability, and the type of home you’re buying. Brokers weigh these factors to determine how much you can afford to pay and the level of risk you pose to the lender.
18. I received money as a gift. Can I use it as a down payment? Yes, as long it comes from an immediate family member like a brother, sister, father, mother or grandparents. You must also supply your broker with a gift letter, which states that the money is a gift and does not need to be paid back.
19. What is a pre-approved mortgage? Realtors encourage their clients to get pre-approved for a mortgage before they start shopping for a home. This can strengthen a buyer’s position when it comes time to negotiate the sale. A pre-approval is basically a less formal version of what will occur when you actually apply for your mortgage. A good mortgage broker will collect all the documents that are required, and provide you with the amount of money you are qualified to borrow. This also helps homebuyers narrow their search by letting them know what they can really afford.
20. Should I wait for my mortgage to mature before renewing it? It depends. If a borrower is in a high-interest mortgage product, it is the interest rate differential (IRD) that will determine whether a borrower should refinance. An IRD is the penalty imposed by the lending institution and it is triggered when a borrower breaks an existing mortgage to get a cheaper rate. A mortgage broker can calculate whether it makes sense for you to break your mortgage and will calculate the penalties against the savings you’ll incur through refinancing to determine which option is most profitable for you.
21. What is a down payment? Most of the time, clients don’t have enough money to pay for an entire home in cash. Therefore, they put down a small amount of the total price of the home, while the bank lends them the rest. This small amount is called a down payment; the portion from the bank is called a mortgage.
22. How can you buy a home with as little as 5 percent down? The Canadian government created a company called the Canadian Mortgage Housing Corporation (CMHC). CMHC makes it possible for Canadians to qualify for a mortgage with as little as 5 percent down because it protects the bank if the borrower defaults. Borrowers with a low down payment are considered higher risk. By insuring these lenders, CMHC also helps contribute to a safer, more stable mortgage market. Borrowers who use CMHC have to pay a small premium of 2-3 percent of the mortgage loan.
23. How can you pay off my mortgage more quickly? There are many strategies for <a href="https://www.vancouverhousefinders.com/5-ways-pay-your-mortgage-fast/index.html">becoming mortgage-free faster</a>. One tactic is to choose a
bi-weekly or a weekly payment instead of a monthly one. This prevents interest from accumulating as quickly. Another way is to pay a little extra every month, or every time you can afford to. Paying an extra $100 per month can have a huge impact on how soon you pay off your mortgage. Finally, a really amazing tactic to pay off your mortgage is to choose a bi-weekly accelerated payment. This alone can help you pay off your mortgage two to four years sooner. There are also a few programs that allow you to <a href="https://www.vancouverhousefinders.com/tax-deductible-mortgage-solution/index.html">make your mortgage tax deductible</a>. These can shave up to seven years off your mortgage.
24. How can you use your RRSP to help you buy your first home? The Home Buyer’s Plan allows buyers to use up to $20,000 of their RRSP savings as a down payment on a first home. This means that a couple can use up to $40,000 in funds from their RRSPs. Unlike other RRSP withdrawals, this one comes without penalty, but the funds do have to be repaid to the RRSP within 15 years.
25. What are the costs associated with buying a home? The first thing you need to consider when buying a home is your down payment. Homebuyers should also budget for an additional 1.5-2.5 percent of the loan for taxes, land transfer taxes, disbursements, legal fees and an inspection.
26. What should the length of my mortgage term be? When choosing a term, you should consider what your plans are for your home. What is your job situation? Do you expect to have to move in the next couple of years? Is this a neighbourhood you would like to live in over the long term? Let’s say you‘re in a neighbourhood that you’d like to move out of within a few years. In this case, you should probably get a mortgage that matures within a few years. There are many variables that you should consider when choosing a mortgage term. Fill your mortgage broker in on your plans and he or she should be able to help you make the right choice for you.
27. What are the monthly costs of owning a home? Besides monthly mortgage payments, homeowners are also responsible for property taxes, home insurance and utilities. Home ownership also involves paying for repairs and upkeep. If you live in a condo or strata, you will also pay condo or strata fees.
28. Should you go with a short- or long-term mortgage? Shorter mortgage terms usually carry lower rates, but if you choose a shorter term and then find that the economy is doing better at the end of the term, you might be subject to a much higher interest rate. Therefore, you should choose the mortgage term that suits your needs. If you don’t see yourself moving any time soon, choose a five-year rate.
29. What is a fixed-rate mortgage? A fixed-rate mortgage has the same payment amount every month for a term that can range between six months and 10 years. Some clients prefer a fixed-rate mortgage because they like the security of knowing what their payments will be for the duration of
the term.
30. What is a variable-rate mortgage? Variable mortgage rates are based on the Bank of Canada’s prime rates. Variable rates are usually prime plus or minus a certain percentage. At the time of writing, for example, variable mortgage rates are at prime (3 percent) minus .15 = 2.85 percent. So, if the prime rate goes up to 4 percent, this raises the borrower’s mortgage payment. This is why variable rate mortgages are qualified at a 5.29 percent benchmark rate.
31. How much do I need for a down payment? In Canada, clients can use as little as 5% as a down payment, but there is no cap on how much you can put down. Borrowers who put down less than 20 percent of the cost of the home will have to pay a CMHC insurance premium.
32. What are closing costs? Closing costs consist of property taxes that were prepaid by the previous owner of the house or condo you’re purchasing, legal fees, land transfer taxes, insurance and title insurance. If you buy a brand new home, you may also be subject to GST or HST, depending on the province in which you live.
33. Can a mortgage broker sell my information to other parties? Because mortgage brokers are highly regulated, we are required to keep your information confidential, even if you don’t do business with us.
34. What happens if I'm not satisfied with a mortgage offer? We do everything we can to make sure our clients are 100 percent satisfied with our mortgage offer. If you are not happy our offer, please let us know. And remember that you are not obligated to accept any offer that we provide.
35. What is the difference between term and amortization? Amortization is how long it will take to pay off your mortgage. The term is the length of the contract that you are locked into. Amortization will affect your mortgage payment; the longer your amortization, the lower your payment, but the more your mortgage will cost overall as more interest accumulates.
36. What's the difference between pre-qualification, pre-approval and full approval?Pre-qualification is when a mortgage broker looks at a borrower’s information and application and determines the size of the loan for which they qualify assuming that information is accurate. Pre-approval is when the mortgage broker actually verifies the information provided and submits it to the lender for basic underwriting. The actual mortgage approval occurs when a borrower puts an offer on a home. We call that a “live deal.” This is when we inform the bank that we need a full approval. The bank will also do more research to verify employment and other sections of the mortgage application.
37. What is title insurance? Title insurance protects homeowners against problems related to the title of their home. This might include issues such as encroachments, liens or right of way issues.
38. What is an appraiser? An appraiser is a licensed professional who works to determine the value of a home at a given time. The appraiser will compare your property against other properties that have recently been sold in the area.
39. Can I get a mortgage in the United States? Yes, there are a few lenders that can provide our clients with mortgages in the United States. Usually, these mortgages are highly scrutinized and clients have to qualify for them without considering the potential rental income the property may provide.
40. What terms and conditions should I be asking for in my mortgage? One of the things borrowers often overlook is the terms and conditions of their mortgage agreement. Things like prepayment options, payment frequency options, penalties for breaking off the mortgage, penalties for missing a payment, options for skipping a payment and many more. Borrowers need to consider what options they may need to use and find a mortgage that will give them the right amount of flexibility.
41. What options are available for paying my mortgage? Make sure you have the ability to choose to make your payments weekly, semi-monthly, bi-weekly, accelerated bi-weekly or monthly. Some mortgage companies have very limited options here, especially when it comes to mortgages with very low rates.
42. Can my mortgage be tax deductible? There are a few complex, high-level strategies that can help you make your mortgage tax deductible, even if it’s your principal residence. This does not apply to everyone, but if you do qualify, you could shave up to seven years off your mortgage - and save thousands of dollars in interest payments.
43. Can you help me pay down my mortgage seven years faster? Tax-deductible mortgages are a great way to pay down your mortgage up to seven years sooner. They can also help you create a nest egg.
44. Can I pay down my mortgage faster without paying anything extra? A tax-efficient mortgage plan can help you pay down your mortgage, save for your retirement and avoid paying any more than your mortgage payment out-of-pocket. This strategy requires a re-advance able <a href="https://www.vancouverhousefinders.com/home-equity-line-credit/index.html">home equity line of credit</a>, an investment strategy and a good accountant and mortgage broker. If you are serious about this strategy, call me directly.
45. Do I have to pay for legal and appraisal fees when I refinance? As long as you are not taking out any extra money, we have lenders that will pay for the legal and appraisal fees.
46. What value does a mortgage broker bring? We can help save you time, money and effort - and help you avoid the headache of shopping around for the best rate.
47. What makes you recommend a specific product? I recommend products because of things my clients tell me based on their immediate and long-term needs.
48. What are the penalties for breaking a mortgage? There are some major banks that have large penalties for breaking a mortgage early. Beware of ultra-low rates, as these tend to have the highest penalties. Not all banks are created equally, and not all mortgage products have the same penalties. Use a mortgage broker to help you decipher which options are best for you. My advice would be to read the fine print when signing your commitment documents. Typically, if you have a variable rate mortgage, and you are in a 5 year term but want to break it after 3 years, the cost would be 3 months interest penalty. If you are in a fixed rate mortgage, it would all depend on when you got your mortgage. and when you are deciding to break it and what the rates are at that moment. For example, if after 3 years, your rate is 5%, and the current bank rates are at 3.50% at the time you wish to break your contract, then you have to pay the difference between 5% and 3.50% in interest penalties back to the bank. As stated before, it all depends on when you get your mortgage, and who your bank is.
49. What is a HELOC Mortgage ?
HELOC`s stand for (home equity line of Credit). These mortgages use the equity you`ve built up in your home as a line of credit. This allows you to access this equity and use it to pay down unsecured debt, renovate your home, or simply to buy a second property. This product is ideal for borrowers that need flexibility.
Good luck on your <a href="http://www.vancouverhousefinders.com/">next home purchase</a>. If you have questions, we’re here to help. We can connect you with a great mortgage broker.2014-07-11T20:23:00-07:002018-10-31T15:43:19-07:00Hani Faraj