Determining the right sale price is a crucial step when deciding to sell your home. More often than not, the price is the most determining factor for potential buyers.
Thanks to their privileged access to the Centris/Realtor system, a network that is reserved exclusively for brokers who are members of a real estate board, your real esta
te broker can evaluate your home and perform a comparative market analysis based on properties that are similar to yours and that were recently sold in your neighbourhood. Comparative market analyses are indicators of the price that today’s buyers are willing to pay for a residence similar to your own, in a comparable area. The analysis takes into account your home’s features and the conditions of the current real estate market.
Getting Off to a Good Start
To sell your home quickly, it’s important that you set the right price from the get-go. When faced with a price that’s too high, potential buyers may get discouraged, while those who can afford it will quickly realize that they can get better value for their money elsewhere. It’s also good to remember that a home that lingers on the market for a long time tends to lose its appeal.
Selling on your own is risky business. Without in-depth knowledge of the market, you can easily underestimate the true value of your home and lose considerable profit. This is why a real estate broker is the best-suited professional to help make the most of your real estate transaction.
Setting the right price from the moment you put your home up for sale is to your best advantage. You’ll be sure to attract more potential buyers and therefore sell your home as quickly as possible.
When the time comes to sell your home, you only have one chance to make a first impression.
The exterior appearance of your home is extremely important. An inviting exterior will attract buyers and encourage them to visit the inside of your home. Your lawn should be well maintained and, during the winter months, keep some photos of your lawn handy so that visitors can see what it looks like during the summer. Cleanliness is essential, so a cleared entrance and clean windows will also make a big difference.
Inside, neatness is key. Clean your home from top to bottom and get rid of all unnecessary items. Remove any old furniture that is obstructing the hallways or cluttering up the rooms. Clear out any open spaces so that visitors don’t feel cramped.
Does the home need a fresh coat of paint? Newly painted properties often sell for more. Remember that dark colours can be detrimental to a sale. Instead, choose brighter, more appealing neutral tones. Your carpet’s appearance can also be a determining factor. If you can’t replace your carpeting, having it cleaned will help give the rooms a refreshing new look.
The kitchen and bathroom must be immaculate. Take the time to clean all appliances and faucets, as well as the bathtub, toilet and sink. Unclutter the counters and don’t leave any dirty dishes in the sink or towels around the tub. Give buyers a chance to visualize all storage possibilities.
Throughout your home, fix leaky taps, defective door handles, as well as drawers and cupboard doors that don’t close properly. Replace burnt light bulbs and yellowed switch plates. Most of these minor repairs are relatively inexpensive and will help visitors form a positive opinion of your home.
Your home must be well lit. During the day, keep the curtains open and turn lamps on in the evening. If necessary, add lamps in dark corners. Make sure your home is well-ventilated so that visitors aren’t turned off by strong odours such as incense or spicy foods.
It’s important to be discrete when potential buyers are visiting. Leave your broker alone with the client. It will be easier for the broker to highlight your home’s strong points and the visitor will be able to voice comments and impressions freely.
Buying a home is a very complex process. In addition to considering financial and legal aspects, it also requires solid negotiation skills. Why not hand this task over to a Real Estate professional? A Real Estate broker who is a member of the Real Estate board (GMREB) can successfully navigate you through the entire process.
Real Estate brokers have followed extensive training and hold a certificate from the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ). Skilled negotiators, Real Estate representatives have access to many tools and expert references: from building inspectors and notaries, to financial institutions and mortgage brokers, Real Estate brokers serve as a one-stop resource! Their presence also provides you with legal protection, as stated in the Real Estate Brokerage Act.
Real Estate Brokers with Solid Team Effort
When looking to buy a home, a Real Estate broker can target those properties that best suit your needs and budget thanks to privileged access to the Centris / Realtor systems. They can accompany you during visits in order to objectively analyze the different characteristics of each property. They are also there to represent you when it comes time to negotiate, a phase during which the help of an accomplished professional is very much appreciated. In short, a Real Estate broker will guide you through all of the steps involved in purchasing your home, right up to your visit with the notary!
We all dream about owing our own house and stop paying a rent. If you are like most of tenants, you feel trapped in the walls of an apartment that you do not own. You feel helpless and you can’t see the day when you will buy your own house.
Regardless how long you have been a tenant or how difficult your financial situation seems, the truth is some little known information might help you make the move to change your status from a tenant to a house owner. Thanks to the information, you will learn to:
- Save money for your down payment to purchase a house
- Stop giving money to your landlord
- Stop wasting thousands of dollars in rent
Six little known facts that can help you buy your first house.
The problem most tenants face is certainly not their incapacity to meet their monthly payment. Everybody knows that this obligation has to be met the first day of the month. The problem is rather to accumulate enough capital to make the first deposit on a house.
Saving this amount of money is not as difficult as you might think if you know the six following facts.
- You can buy a house with much less cash than you think.
Local or national programs (such as the First Time Home Buyer’s Program) exist to help access the real estate market. You can also qualify as a first time home buyer even if your spouse owned a house before, as long as your name was not registered as co-owner. Make sure your agent is well-informed and knowledgeable about the home buyer’s programs in order to offer you all the possibilities.
- You could get some help from your financial institution for your initial deposit and acquisition costs.
Even if you don’t have the initial deposit available, if you don’t have debts and some net worth (like a fully paid car), your financial institution might lend you the funds for your initial deposit which would be secured by that asset.
- You might find a seller who can help you
Some sellers might grant a second legal hypothec lien. In this case, the seller becomes more or less the lending institution. Instead of paying him?her the cash for the house, you pay monthly payments.
- You can create a cash deposit without incurring debts
By borrowing money to invest in an RRSP until the required amount is achieved, you can benefit from a tax credit that you will use as cash. It is true that the money borrowed can be technically considered as a personal loan, but the monthly payment might be lower. Then, the money invested in the house and in the RRSP is yours.
- You can buy a house even if you have some credit issues
If you can’t get the minimum amount in cash or provide security for a loan because your net worth is too low, lending institutions will still accept your mortgage request.
- You can, and you should, be pre-qualified for a mortgage loan before starting your research for a house
This is easy to do and will provide you with peace of mind when the time comes to buy a house. Mortgage brokers can help you obtain an approval in writing at no cost and with no obligation. This can even be done over the phone. Better than a verbal approval, written pre-qualification is like having cash in the bank account. You will receive a certificate that guarantees the amount of your mortgage loan; very useful when you finally find the house you were looking for. Consider asking a professional specialized in mortgage loans. Using his or her services can make the difference between obtaining a mortgage and remaining a tenant forever. Usually, there are no fees to obtain the information. Then why on earth would you continue to waste thousands of dollars in rent when you could take a few minutes with your agent to talk about your specific needs in order to stop renting an own a house. This conversation will not cost you anything. And of course, you should not feel obliged to buy a house at the moment you read these lines, but take the time to explore various opportunities, discover ways to own a house, imagine how informed and relaxed you will feel when the time comes to make this important decision.
The study, conducted by U.S. News in partnership with Y&R’s BAV and Wharton, broke 80 countries’ overall rankings down by identifying a “set of 65 country attributes – terms that can be used to describe a country and that are also relevant to the success of a modern nation.”
Each of those 65 attributes was then placed into one of nine subcategories that included:
Adventure (3.24 percent): friendly, fun, pleasant climate, scenic, sexy
Citizenship (16.95 percent): cares about human rights, cares about the environment, gender equality, progressive, religious freedom, respects property rights, trustworthy, well-distributed political power
Cultural Influence (12.93 percent): culturally significant in terms of entertainment, fashionable, happy, has an influential culture, modern, prestigious, trendy
Entrepreneurship (17.42 percent): connected to the rest of the world, educated population, entrepreneurial, innovative, provides easy access to capital, skilled labor force, technological expertise, transparent business
practices, well-developed infrastructure, well-developed legal framework
Heritage (3.17 percent): culturally accessible, has a rich history, has great food, many cultural attractions
Movers (10.00 percent): different, distinctive, dynamic, unique
Open for Business (11.99 percent): bureaucratic, cheap manufacturing costs, corrupt, favorable tax environment, transparent government practices
Power (7.42 percent): a leader, economically influential, politically influential, strong international alliances, strong military
Quality of Life (16.89 percent): a good job market, affordable, economically stable, family friendly, income equality, politically stable, safe, well-developed public education system, well-developed public health system
When the inaugural list of the world’s best countries was released last year at the World Economic Forum in Davos, Switzerland, Canada was also named the #1 country in the world for Quality of Life, the study’s third most heavily weighted category.
In 2017, Canada beat out Sweden, Denmark, Australia, and Norway who all finished in the Quality of Life top 5.
Canada ranked 2nd best country in the world in 2017
Canada ranked as the 6th happiest country in the world
Canada ranked #1 place to go in 2017 by New York Times
Our overall ranking of #2 best country in the world in 2017 came from these rankings in the nine subcategories, including that coveted #1 spot in Quality of Life:
Here are the 25 best countries for Quality of Life in 2017
United Arab Emirates
Open House event highlights ‘booming’ real-estate market in Montreal | Montreal Gazette
The baby boomers are doing it again. The generation whose sheer numbers brought us sprawling suburbs, minivans and shopping malls is older now and retiring from their jobs. But boomers are still a force to be reckoned with, at least when it comes to real estate.
For example this year, for the first time in its 21-year history, the Spring Open House will include rental properties designed for seniors.
The fastest growing segment in the real-estate market is new homes for aging boomers. Among the most active developers in this category is Batimo, with one project opening this weekend in Boisbriand (149 units) and another starting construction this summer in Pointe-Claire (220 units). Each is entirely designed for the 55+ age group. But if you ever meet Mario Daigle, vice-president of Batimo, just remember: Don’t call it a “retirement home”!
“Our buildings are for seniors who are still active,” Daigle said. “They organize their own activities. There is a gym, a pool, a nice restaurant and even a business centre. They want a lot of amenities and convenience, but they don’t want to live in something that looks or feels like a hospital.
“They have owned their own home and no longer want the trouble of running a property,” Daigle adds. “They’re ready to move back into rental. They want to travel and enjoy the money they saved.”
It makes so much sense you wonder why the trend is new in the Montreal region. “It’s only three to five years since the first of these large projects opened here,” says Jacques Beaulieu, organizer of the Open House event. A quick check with Statistics Canada explains the new interest. Look at the demographic shift of households in Quebec by age:
- From 2016-2021, the percentage of 55-74 year olds will increase by 1.9%
- The percentage of those age 75 and older will increase 3.5%.
Daigle’s confidence in the rental market is backed up by a 2016 CMHC report, which states “Older households, many of whom are returning to the rental market, make up the population segment that will post the strongest growth.”
Rent begins at $1,000/month for a one-bedroom unit at the Batimo building. About 10 per cent of the units are available for sale, “for those still interested in investing,” Daigle said.
Green space and openness
Of course, not all seniors want to rent or live in a high rise. Those with deeper pockets might be drawn to Ambiance Plein Sud, which is also part of the Open House event. It’s right on the Longueuil golf course Parcours Du Cerf, and while few of the residents actually play golf, “they like the green space and openness — not like downtown,” says Nicholas Metsos, President of Groupe Classique.
The company has a lot of experience designing for discerning boomers. The first seniors’ exclusive building went up in 2001, with 90 suites. Now there are six phases and 400 units of middle to high-end properties. “Seniors want an indoor private garage and a private entrance, plus big elevators and big windows.” Metsos describes his clients as confident investors. “Even as they age, they believe that a good home is a safe investment.”
Phase 6 is 65 per cent occupied. Property prices range between $300,000 and $750,000.
The elusive affordable home
There is going to be one heck of a house-warming party in Ahunstic this July. That’s when 189 families and individuals move in to a new development at the corner of L’Acadie and Henri Bourassa Blvds. Cité Signature is one of those rare finds: an “affordable” new home. Units range in price from $139,000 (1 bedroom) to $270,000 (3 bedrooms). (City of Montreal guidelines dictate which properties can be promoted as “affordable” and thus qualify for subsidies.)
“But it’s not just about the price,” says Marc Araish, the project’s director of operations. “It’s a quality build. Hardwood floors, quartz counters, balconies and indoor parking. There’s even a rooftop terrace with barbecues and a hot tub. You don’t often find these features at this price point,” he says.
Indeed, comparable units in Griffintown, for example, cost considerably more, because the land costs more. So “affordable” means … not building downtown.
And there are other incentives. “In a new build, buyers usually have to put five to 10 per cent (of the cost) up front. Not here,” says Araish. “We ask for $2,500 up front, then monthly payments which are more manageable for our clients.”
There’s one more bonus, for first-time homebuyers with children. The City pays the “welcome tax,” an incentive to keep families on the island.
That’s a lot of math, but it adds up to a lot of people finally able to buy their first home.
The project is 85 per cent sold.
Quebec style on display
One of the highlights of Open House events in recent years has been the participation of Quebec furniture designers and makers. Jean-Claude Poitras, Quebec’s best-known multi-discipline artist and designer has made it his mission to develop a “Quebec style” for furniture. “We have always had great craftsmanship. It is part of our heritage,“ says Poitras. “But we lacked design and an identifiable style. As recently as 2015 at these Open House events, there was not a single piece of Quebec furniture displayed.”
Now, under Poitras’s guidance, the Quebec furniture industry is winning major prizes and earning new respect. And this year at the Open House, there is a lot of fine Quebec designed and manufactured furniture in the four model suites.
Visit one or more of the suites. Poitras has identified 19 pieces he loves. You can vote for your favourite piece of Quebec furniture. Prizes include $5,000 worth of furniture, and a set of GE appliances worth $5,000. People can also vote for their favourite model suite design and be eligible to win two airplane tickets to Paris.
The Montréal Census Metropolitan Area (CMA) saw an annualised 10% increase in residential sales last month as 5,159 of the said properties exchanged hands, according to figures from the Greater Montréal Real Estate Board (GMREB). This marked the most active moth of March since 2012.
“Some first-time buyers purchased their home a bit sooner, wanting to get in before the cost of mortgage loan insurance increased on March 17,” said Daniel Dagenais, president of the GMREB Board of Directors. “This may have slightly inflated the results for March, but the sustained increase in sales in the higher price ranges shows that it is mostly experienced buyers who are setting the tone,” he added.
All of the CMA’s main areas logged an increase in March sales:
- Vaudreuil-Soulanges: +16%
- North Shore: +15%
- Island of Montréal: +9%
- Laval: +7%
- South Shore: +6%
Condominium sales (1,651 transactions) saw the highest annualised increasing (15%) among property categories. More singles family homes were sold (3,080 transactions), but this translated to a 9% increase.
Sales of plexes declined 3%, with just 425 transactions.
“Across the Montréal CMA, the median price of single-family homes stood at $305,000 in March 2017, a 6 per cent increase compared to one year earlier,” said the GMREB. “As for condominiums, the increase was 5 per cent, to reach a median price of $243,232. In contrast, the median price of plexes decreased slightly (-3 per cent) to reach $456,000.”
The number of residential properties in the Montréal CMA listed on the real estate brokers’ Centris system (30,285) decreased by 14%. Market conditions favour sellers for single-family homes, buyers for condominiums, and are balanced for plexes.à
Hiring a mortgage broker comes with numerous benefits whether you plan to refinance your current loan or purchase a new house. As a matter of fact, you will have to decide whether to hire a mortgage broker or work directly with a lender. Usually, a broker is referred to as someone who connects the buyer with the seller. They work hard to ensure that they find the best loan package for their clients. Therefore, they work as intermediaries and in most cases, they do everything to ensure that their clients get good value for their money or the fee cost.
First of all, mortgage brokers are considered as the best choice by lenders. The reason behind this is because they have carried out numerous transactions with various banks hence they have most of their contacts. For example, banks in Montreal also need genuine people making them to have more trust with mortgage brokers Montreal. Therefore, unless you get yourself a good mortgage broker, then you should take note that you are limited to a few banks or lenders. Also, to ensure that your broker is reliable for the loan that you are seeking, make a point of checking their job history just to ensure that they can connect you with the best lenders. Your broker should also be able to access services offered at a discount that you cannot access on your own.
Another advantage of using mortgage brokers is that they offer better flexibility of execution as compared to when you approach the process by yourself. Unlike direct lenders, you will not get locked in one process of getting your mortgage because they offer you much control when it comes to the closing process. In order to overcome credit issues, get the potential for most paper work or leniency and flexibility for closing times, your broker can act as a liaison between you and your bank or lender. By doing this, your broker can easily get you the loan that perfectly meets your needs.
The other benefit of using a broker in Montreal is that their rates are relatively lower. They can go as far as getting you the best package in the city that cannot be easily accessed by the public or you as an individual. They have many contacts and good connections with many lenders and even special programs. The Mortgage Rate Montreal Canada will also let you benefit from his or her services without a large initial cash outlay by frequently pricing their fees into the final closing costs or into the loan’s interest rate.
When you hire a mortgage broker, you will also get access to extra services. The reason for this is because many mortgage brokers often offer more than what they are entitled to do for their clients. For example, some of them will help you with some basic credit issues or repair in case you request for their assistance. Also, most of them will always stand by your side in ensuring that you successfully get through the application process to the closing.