Paul Cutajar

I need some help! I have a client who will be selling thier home. Nice house, nice area, market sensitive pricing...problem is thier partner has comitted suicide!

This is very difficult to deal with, not only are we dealing with a poor market but how do I handle the sale.

I'm looking for your opinons or advice/personal experience.

The death although sad and tragic was not violent. It was not a hanging, shooting or anything like that. In fact probably as quiet as an older person passing in thier sleep!

Would YOU buy this house? Yes/No and why? I have called the lawyers and my Broker, I need to disclose but I may be discrete and disclose just prior to an offer.

Would you pay less for this house? Would it bother you? Any great ideas on how to turn this into a positve. Obvioulsy my client is very upset with the situation and now is even more upset.

Help!

Thx

Paul

Did you hear? IT'S A BUYERS MARKET!

Attention Buyers, you have complained about the high price of housing for years. "Oh... we can't get the house we want because every time we put in an offer we lose in competition" or " The price of housing is SO EXPENSIVE we just can't make a move right now" or 'There's a house for sale that I've always wanted but the price is just too high".

As a Full time realtor we hear all sorts of excuses, complaints and usually accurate comments on what, why and how the market is doing. For years buyers have wanted lower prices...well the time has arrived. The switch from the Seller asking whatever they want (and getting it) is over. Sellers are having a difficult time selling properties. We have a large number of inventory on the market not equalling the amount of Buyers. This is proving to be problem for Sellers.

However as I recently Blogged, this is a great opportunity for the Buyers. Prices have dropped impressively and suddenly and guess what? the interest rate to borrow is still very low! WHERE ARE THE BUYERS?

Now some of you are saying, 'hey I just got laid off', 'I don't know what the Global Market is going to do', 'I've lost too much money in the stock market'. Yes you are right, these are sudden uncertain times, and many families will need to tighten up, but what about the Guy who has a secure job, bought Stocks when they were low and has not LOST money, or the family that has been saving money with the intent of buying up! or the inheritance!

Remember in difficult economic times, there are those that seize the opportunity and benefit. IE: 15 years ago, a couple bought a house for $135,000. The home was 2800sf, 2 car detached, 4 bedroom, brand new in a new part of town. What do you think it was worth 6months ago? Did they make money? You bet! A lot of money. The prices have come down, a purchase now could get your family in what you have always wanted. The townhome could move into a Semi or small detached. The semi could get the larger Detached. The detached could get a well appointed downsize. It's relative, but you always want to buy in the LOW market, enjoy it and Sell in the high market.

Real Estate is cyclical, we have all heard it. Ups & downs. Every time it's up...it has to come down. When it's down (buy!) it will go up! When you bought your property 7 years ago it was much less than what this low market will pay now...you made money! Now the property you want is priced low. You sell -still making a profit but you benefit by buying larger at a cheaper price. Here's another example. I was at a gathering recently and as usual when someone finds out I'm in Real Estate everyone listens. This older couple proceeded to tell me that they have a beautiful Bungalow in a very well to do part of town with a large lot. Currently they have been on the market for sale for 135days - no offers! The original asking price was $849,000. Area sales would easily support this price. They had reduced the price to $799,000. No offers! They reduced again to $699,000, still no offers. Here's the kicker, prior to listing they purchased another home. They are now carring 2 homes! Sure they have still made money on thier original investment from 20 yrs ago but who has the opportunity NOW!

I guess what I'm trying to say is... you have made money on your property, don't think of it as a loss. if you wait for the market to get your money back you would have missed out on the opportunity, then what...more excuses.

Listen if you are on the edge wanting to Buy & Sell, CallPaul and I would be happy to discuss your personal situation.

Thanks for reading. I welcome any & all comments www.movewithpaul.com

Paul

Mississauga Real Estate

Obama with a smile!

I just watched the Historical results of the U.S. election. I must say, being a Canadian and one with not much experience or faith in Politics, what I just witnessed touched me like never before. I am the belief that there are powers/people in this world much greater than any president could be. The idea that these government positions with all the powers they have are really mere puppets of those with the real power, the money, the resourses, the agendas! I have seen many elections before, infact here in canada we just concluded a rather dull and boring one! but if what I witnessed is true (and I hope it is) this may actually be the beginning of a new age. The WORLD was watching. The States and its people seemed to unite, I think it was more of an emotional election, even John Macain's speach seemed to recognize how momentus this was. I wish I could turn the clock forward to see how the future is going to work with the new president, to see how the world is going to interact. It almost seems that it was not a party victory but rather a people victory. I know that there are many people/countries that do not like or accept U.S. policies and I may be looking at the future through teary eyes but I really felt that the world may be at the threshold of a new future. Regardless of which party or platform is right or wrong. I would like to extend my congratulations to the people Of the United states for the very least voting for thier future. All though I was not able to vote, I, as I am sure many around the world felt a part of History and a part of our future. Congratulations to the people!

Thank you

Paul www.movewithpaul.com

Doom and Gloom or Opportunity.

They say there is money to be made in any market. The following comments are stricktly mine and mine alone, however I invite your comments, concerns or response.

We have had it good. Fancy cars, fancy houses, low gas prices, high priced fast selling properties, Mississauga Real Estate like many areas was HOT!.

It used to be you could put a house on the market - any condition - and it would sell in a matter of days, probably even get several offers on it. Well the times have changed. We are well into a buyer's market, properties are taking months to sell, prices are being reduced and standard print ads are not performing. As a Realtor, we are looking at alternative ways to get properties SOLD.

For sellers that have lived in their homes for 5+ yrs, your property value had increased significantly. A drop in the market for you means not as much profit. A Seller who has been in their home for less than 3yrs may be losing money when all is said & done. But it's not all bad for those that have the time and money. Because all is relevant, your Selling price is relative to your Buying price. The Seller's that have yet to figure how this market is working will be left behind and eventually sell for even less, but for those that are savvy and MOTIVATED should find a buyer and be able to connect on the deal. The buyers are out there! But they are smarter, more knowledgeable and they are waiting for the property that gives them the most for the least. The internet has become the search vehicle of choice, even our aging population is well versed with E-mail and internet search & communication. The truth is, we are in search for the right price. If you have a good product to sell at the right price in today's market - SOLD!

So how bad is it? We have had it so good for so many years this correction is really stirring things up. The rich get richer & the poor get poorer. The entry level market (<$400K) will still be relatively active. This is where the majority of the population can afford. The high end market (>$900K) will continue to see good movement however as usual the Middle sector will take the brunt of the current situation. The markets are falling, the middle sector could lose their jobs throwing them in a panic! Any profits they have made in stocks could be lost. They are having trouble selling their properties causing them to drop prices. The Buyer's that are out there are trying with Low ball offers, taking advantage of the situation, the more panic the lower the price. This new low sale becomes a benchmark for other properties thus causing the neighbourhood to drop. I feel that as long as the interest rate remains affordable we should be able to get through this cycle. Gas prices too high - cut down on your driving, economy tightening up - save your money, the house you want - make your move.

As a Buyer, you are at the threshold of Opportunity. You have your downpayment, you know what you want and you could be in the driver's seat. Buy the house for the purpose of staying. Live and enjoy while waiting for the next upswing of the market. If you found this monologue of any interest good or bad please let me know. Callpaul or E-mail me paul@movewithpaul.com.

Besides an income to support my family, this is what drives me! Making people happy.

My Clients' Comments:

Dear Paul Thank you for helping us through the challenging task of purchasing and selling this summer. We appreciate your honesty and integrity as you were the agent for both the buy and sell homes. Many times, we commented to each other how "non stressful" this process was this time, and it was in no small part due to your professionalism and our confidence in you. You have set us up in our dream house and we could not be happier. Thank you ,Denis and Andrea . ..Everyone has everything they are supposed to,,,, even the bank lady said "this was easy, I have everything!"

Thanks Paul. Andrea & Denis

Everything I do is designed to make the process easier. Everyone receives information differently and yet after I explain things they usually say..."I didn't know that".

CALLPAUL or visit me at www.movewithpaul.com

Mississauga Real Estate and you!