BC Condos For Sale, What Holds More Value Pre Sale Or Resale condos?
Pre Sale Condos / Re Sale Condos
BC condos for sale in the Lower Mainland are rising in popularity as baby boomers make the foray into hassle-free housing and new immigrants look for more affordable housing. With both resale and pre sale condos available, which is the better investment?
BC condos for sale contain many deals in today's Pre sale condos, there is also many deals in today's re sale condo market so which one is the better investment?
BC Condos for sale:
There is some risk in buying pre sale condos, but if you do your research, and go with a credible builder, then you significantly reduce the chance of a bad investment. Some major factors to consider when looking for BC condos for sale / pre sale condos are the following!
1. You normally buy pre sale condos before they are even built. Typically you need to put 15-20% deposit down with out even seeing the finish product and without taking possession of your new home for another year or more and how do I know for sure if the value of my pre sale condo will appreciate in value?
2. BC condos for sale vary quite differently in price. How does the price of the pre sale condos compare? Do resale condos effect the value of pre sale condos?
3. When purchasing BC condos for sale, How can you be sure of what your getting while purchasing pre sale condos?
BC Condos for sale - The Answer
Always use an experienced Realtor when purchasing pre sale condos! Working with a Realtor who has experience purchasing pre sale condos prior to construction is key to being able to assess the strengths and weaknesses of each project. BC condos for sale vary in price, area's, amenity's and more. You need the expertise to guide you through the market to inform you on the best decision possible! Without working with the right Realtor you might not realize that the prices in the area you’re looking at have already increased in value, or that you negotiated your own deal on price, but didn’t negotiate other important details including getting the upgrades you want and having building costs capped by the builder. It’s not just about price, it’s also about value! You need to be able to put aside a builders flashy advertisements or promotion offers and seek professional advice!
If your thinking of buying pre sale condos and you have any questions feel free to give us a call. The Property finders are experts in dealing with both Pre Sale and Re sale condos. We are experts on BC condos for sale!
The Property Finders
Direct line
Sean- 604-726-1023
Vancouver Real Estate Market
Home listings continue to rise in the Vancouver real estate market Consistent increases in property listings and fewer home sales over the summer months has helped move the Vancouver Real Estate Market into the upper end of a buyers’ market. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,246 in September, a 1.2 per cent increase, compared to the 2,220 sales in September last year. Those sales also rank as the third lowest total for September over the last 10 years.
What does this mean for you in the Vancouver Real Estate Market?
There's more competition amongst home sellers in today's Vancouver Real Estate Market, providing more options for prospective buyers! There are plenty of great deals to be found in our current Vancouver Real Estate Market, with so many listings home sellers are getting creative to make deals happen. One recent transaction our purchasers bought their new home fully furnished and move in ready!
Some sellers in today's Vancouver Real Estate Market NEED TO SELL!
With some of the highest inventory levels currently in the Vancouver real estate market, there are some sellers that have no choice to sell. If your a buyer or even a investor, there are some extreme deals to be made. The Vancouver real estate market contains some of the most sought after property worldwide, Making it a secure investment!
What if I'm a seller looking to sell my home in today's Vancouver Real Estate Market?
Does this mean I'm going to lose money on my home? The answer is no! Let me explain, yes our inventory levels are at record highs in the Vancouver real estate market. However overall prices are only down less than .05% with some areas actually seeing a increase in prices! With inventory sitting where it is in the Vancouver real estate market the key is having your property stand out from the rest. Have the buyers come to you and making the deal! If you would like more information on how to get the most money out of your home in today's Vancouver Real Estate Market give us a call, it's free and you are under no obligation to buy anything!
The Property Finders 604-726-1023
The Property Finders are your Vancouver Real Estate Market Experts!
Why Sell Your House Through The Property Finders of One Percent Realty?
There has been a lot of recent talk about the Competition Bureau and CREA and the recent changes to the MLS® rules that govern REALTORS®
Its time to shed a little light on this. The new MLS® rules allow for a licensed REALTOR® to do what is referred to as "mere-posting" a listing onto the MLS®. They will charge some sort of nominal fee for this, probably around $500 or something. The idea here is to allow people to market their properties themselves, (For Sale By Owner) and do all of the work themselves. From where we sit, this is probably a good thing. It gives consumers choices, which they previously did not really have. Now as we see it, consumers have 3 viable options:
Option #1 - Sell it through the traditional "higher commission companies" who will place your property on MLS® and provide full service real estate. Depending upon what your home is worth, this will cost a fair amount of money, though it will vary across the country. A $400,000 home will normally cost somewhere between $15,000-$24,000 through a company like this.
Option #2 - Sell it through The Property Finders of One Percent Realty. We will charge you $6900 for this same $400,000 home, with all the services and exposure that you would receive from the traditional higher commission companies. This fee also includes payment to the buyers agent ($3000). We do open houses, handle the showings, negotiations, and paperwork. The Property Finders have a state of the art online and paper marketing program, to give your home the best exposure possible. In short, the services and exposure are the same if not more as you would get from a higher commission company, but for way less money.
Option #3 - Sell it yourself. You can now put your home on MLS® and have your home exposed with all the other listings, and deal directly with the public or REALTORS® who may show your property. Worth noting, is that since your property is on the MLS® system you will have a reasonable chance of dealing with a buyer's agent. These buyers agents expect to be paid. Most likely, they will be looking to the Seller to pay them something, probably at least half of the fees discussed above (the $400,000 home). So again, if we use the $400,000 home as our example, a buyer's agent will be expecting to receive between $7500-$12,000 to sell your property. So if you can have the full services of our professional REALTORS® for $6900, why would you not just leave it to a professional? Make no mistake.The Property Finders business model would not have worked in the pre- internet era.
Prior to the Internet, Buyers used to get in the back seat of a REALTORS® car and go on a tour of homes. The REALTOR® would have his/her MLS® catalogue of homes which he was not allowed to give Buyer's a copy of. REALTORS® controlled MLS® information. This is simply not the way it happens anymore.
Nowadays with the Internet, consumers are empowered and in much more control of their new home search. Over 95% of Canadians who search for a home start their search on the Internet. Whether Buyers are looking for properties themselves on realtor.ca, or being automatically emailed MLS® properties directly from their REALTOR®, or other house hunting activities, nowadays Buyer's often know as much or more about their particular market and the homes for sale in it as their REALTOR® does.
It is no slight on other agents, but the buyer basically has access to MLS® and can check www.realtor.ca 20 times a day, and their agent will not be doing that, no matter who they are. These changes in technology and Buyer behaviour created the opportunity for the Property Finders of One Percent Realty to flourish.
When a Buyer sees a home that meets their criteria and is their dream home they do not ask "How much commission is being paid here." It's not of concern to the potential Buyer. The Buyer is concerned with number of bedrooms, bathrooms, location, schools, and obviously the price. Our listings are displayed everywhere that all the other listings are. If you are a buyer looking in a given neighbourhood in a given price range (which is basically all of them), then you will want to see every listing in that neighbourhood in your price range. With the Buyer now in the driver's seat as a much more sophisticated consumer the real estate marketplace had changed forever. Basically, the fox is in the hen house. Because a good product well priced will sell!!
If your home is well kept, and priced accurately, it will sell.
It has no relationship with the amount of commission you pay. With extensive experience in project marketing, One Percent Realty realized that there may be an opportunity to market houses in a similar lower commission higher volume manner. Spending most of their time prospecting for business, the conventional agent requires a higher commission structure to compensate for the lower volume/lower listing success rate in the highly competitive real estate industry. With the help of the technological advances such as the Internet, cell phones and fax machines, One Percent Realty was able to reduce the typical real estate office overhead as well as leverage the productivity advances of its agents to create a successful discount commission business model. Whereby our agents earn less per house sold they make it up in volume of sales at the end of year. It works great for The Property Finders, and it works great for our Sellers. We say at The Property Finders and One Percent Realty, the more deals we do the more money we are saving our clients! The Definition of Market Value
"The highest price estimate, in terms of money which a property will bring if exposed for sale in the open market allowing reasonable time to find a buyer who purchases it with knowledge of the uses to which it is adapted and for which it is capable of being used." (As defined by the Courts)
Does it say anything about commission?
The concept behind The Property Finders of One Percent Realty is that we provide you full service but a discount commission. For that full service on MLS® we charge just $6,900 for all homes under $600,000 and for homes over $600,000 we charge 1% plus $900. The '$900' aspect covers the typical disbursement costs to marketing and selling your home. Our agents provide all of the same services as if they would if they were to charge you a higher commission, the only difference being the amount of commission they charge you. Your 1% agent will help you determine the appropriate listing price, list your home on the MLS® service and thus your listing will be on the popular realtor.ca where all the buyers look, enter the listing on the onepercentrealty.com website, take interior and exterior digital photos, place a house for sale sign (if applicable), advertise your property where the Buyers are looking, show your home to prospective Buyers, provide you advice and assistance along the way. Our goal, like yours, is to sell your home.
What you save with One Percent Realty
| Your House |
The Property Finders of
|
Traditional MLS® Broker* |
Savings |
| $ 200,000 | $ 6,900* | $ 9,500 | $ 2,600 |
| $ 300,000 | $ 6,900* | $ 12,000 | $ 5,100 |
| $ 400,000 | $ 6,900* | $ 14,500 | $ 7,600 |
| $ 500,000 | $ 6,900* | $ 17,000 | $ 10,100 |
| $ 600,000 | $ 6,900* | $ 19,500 | $ 12,600 |
| $ 700,000 | $ 7,900* | $ 22,000 | $ 14,300 |
| $ 800,000 | $ 8,900* | $ 24,500 | $ 15,600 |
| $ 900,000 | $ 9,900* | $ 27,000 | $ 17,100 |
| $ 1,000,000 | $ 10,900* | $ 29,500 | $ 18,600 |
| *compared with a broker charging 7% on the first $100,000 and 2.5% on the balance, not all brokers charge the same. |
What you get with The Property Finders of One Percent Realty
Will Other Agents Show My Property Finders / One Percent Realty Home?
The simple answer is yes. The Property Finders One Percent Realty MLS® listings are shown, and sold, by lots of Cooperating REALTORS® all of the time. Logic would dictate that if our One Percent Realty system was unable to attract Cooperating REALTORS® to sell our MLS® listings then we would be selling most of our own listings to our own Buyers. In fact, its quite the opposite. Over 70% of our listing sales are sold by Cooperating REALTORS® representing the Buyer which is inline with industry standards. That is the proof in the pudding that our system works great.
Why is that. We believe it is two reasons. Firstly, One Percent Realty listings (under $600,000) typically offer $3000 commission to Cooperating Brokers. While $3000 might not be as much as some of other listings, it still is a decent amount of money for a paycheque for Canadians these days including a lot of REALTORS®. The more important reason why other agents cooperate and sell our listings is that it is the Buyers who are dictating the shots these days. As mentioned above, if the Buyer loves the home does the amount of commission matter to the Buyer?
You Owe it to Yourself & Your Hard Earned Equity!
Spending $12,000-$20,000 or more to sell your home is a lot of money. If you are thinking about selling your home call your regular agent that you used last time, but this time also call The Property Finders of One Percent Realty " to compare our services and commission rates. Being full service agents, The Property Finders of One Percent Realty agents provide free no obligation market evaluations just like the other guys. Please don't let someone else tell you about our One Percent Realty system, let us tell you exactly what The Property Finders of One Percent Realty will do to sell your home. You and your hard earned equity will be glad you did.
New Mortgage Rules for Canada in 2011
1. With The New Mortgage Rules In Canada, Maximum Amortization Period Goes Down To 30 Years
With the New Mortgage Rules in Canada The Amortization (the time it takes to pay off your entire mortgage) will drop from the current 35 yrs to a max of 30yrs
Typical mortgages in Canada have terms of five years or less during which a specific fixed or variable interest rate will apply, and the mortgage can be renewed at the end of the term.
New Mortgage Rules for Canada will reduce the maximum amortization period from 35 years to 30 years. A lower amortization period results in an increase in the monthly payment.
2.With The New Mortgage Rules In Canada, Maximum Loan to Value for Refinances will be Reduced from 90% to 85%
With the New Mortgage Rules In Canada, Borrowers can still refinance their mortgage and increase the amount of the loan secured against their home, but today's New Mortgage Rules for Canada, changes will reduce the limit on refinancing from 90 per cent to 85 per cent of the value of the home. Refinancing lowers the borrower's equity in their home. Reducing the maximum loan-to-value ratio on refinancing will encourage Canadians to keep at least 15% equity in their home.
3. With The New Mortgage Rules In Canada, The Government will No Longer Offer Insurance for Lines of Credit
With the New Mortgage Rules in Canada you can no longer get goverment backed insureance on lines of credit. Because a line of credit doesn't have a principle reduction built into the payment, you could go on forever simply making interest only payments never reducing your balance. In view of this, the government figures it's too risky to insure.
Will The New Mortgage Rules Effect Home Values Like The One In This Picture?
Heres the answer to your question on New Mortgage Rules In Canada and home values!
New Mortgage Rules For Canada
The Canadian government has introduced These New Mortgage rules for Canada, governing mortgages in an effort to keep home-buyers from being harmed when mortgage rates increase. This will effect home buyers with certain costs and what they might be able to afford, when purchasing a home! However in the aftermath of the global market meltdown and plunging Real Estate values in many countrys, Canadas New Mortgage Rules are a step in making sure that Canada does not make the same mistakes which happened in the US.
The Bank of Montreal issued a press release regarding the New Mortgage Rules saying, "While we do not believe that Canada faces a housing bubble, we fully support the minister's actions. Given the prospect of higher interest rates and the recent run-up in housing prices in some markets across Canada, the measures announced today are prudent."
How do these New Mortgage Rules for Canada effect you?
If you would like to talk to A Real Estate profesinal and discuss this or what you should do in the current market, give The Property Finders a Call!
The Property Finders
Direct Line 604-726-1023
New Mortage Rules for Canada give us your feedback!
You as the homeowner can play an important part in the timely sale of your property. When you take the following steps, you'll make your sale a profitable one.
Home Selling Tips #1. Make the Most of that First Impression
A well-manicured lawn, neatly trimmed shrubs and a clutter-free porch welcome prospects. So does a freshly painted - or at least freshly scrubbed - front door. If it's autumn, rake the leaves. If it's winter, shovel the walkways. The fewer obstacles between prospects and the true appeal of your home, the better.
Home Selling Tips #2. Invest a Few Hours for Future Dividends
Here's your chance to clean up in real estate. Clean up the living room, the bathroom, the kitchen. If your woodwork is scuffed or the paint is fading, consider some minor redecoration. Fresh wallpaper adds charm and value to your property. If you're worried about time, hire professional cleaners or painters to get your house ready. Remember, prospects would rather see how great your home really looks than hear how great it could look "with a little work."
Home Selling Tips #3. Check Faucets and Bulbs
Dripping water rattles the nerves, discolors sinks, and suggests faulty or worn-out plumbing. Burned out bulbs or faulty wiring leave prospects in the dark. Don't let little problems detract from what's right with your home.
Home Selling Tips #4. Don't Shut Out a Sale
If cabinets or closet doors stick in your home, you can be sure they will also stick in a prospect's mind. Don't try to explain away sticky situations when you can easily plane them away. A little effort on your part can smooth the way toward a closing.
Home Selling Tips #5. Think Safety
Homeowners learn to live with all kinds of self-set booby traps: roller skates on the stairs, festooned extension cords, slippery throw rugs and low hanging overhead lights. Make your residence as non-perilous as possible for uninitiated visitors.
Home Selling Tips #6. Make Room for Space
Remember, potential buyers are looking for more than just comfortable living space. They're looking for storage space, too. Make sure your attic and basement are clean and free of unnecessary items.
Home Selling Tips #7. Consider Your Closets
The better organized a closet, the larger it appears. Now's the time to box up those unwanted clothes and donate them to charity.
Home Selling Tips #8. Make Your Bathroom Sparkle
Bathrooms sell homes, so let them shine. Check and repair damaged or unsightly caulking in the tubs and showers. For added allure, display your best towels, mats, and shower curtains.
Home Selling Tips #9. Create Dream Bedrooms
Wake up prospects to the cozy comforts of your bedrooms. For a spacious look, get rid of excess furniture. Colorful bedspreads and fresh curtains are a must.
Home Selling Tips #10.Open up in the Daytime
Let the sun shine in! Pull back your curtains and drapes so prospects can see how bright and cheery your home is.
Home Selling Tips #11.Lighten up at Night
Turn on the excitement by turning on all your lights - both inside and outside - when showing your home in the evening. Lights add color and warmth, and make prospects feel welcome.
Home Selling Tips #12.Avoid Crowd Scenes
Potential buyers often feel like intruders when they enter a home filled with people. Rather than giving your house the attention it deserves, they're likely to hurry through. Keep the company present to a minimum.
Home Selling Tips #13.Watch Your Pets
Dogs and cats are great companions, but not when you're showing your home. Pets have a talent for getting underfoot. So do everybody a favor: Keep Kitty and Spot outside, or at least out of the way.
Home Selling Tips #14.Think Volume
Rock-and-roll will never die. But it might kill a real estate transaction. When it's time to show your home, it's time to turn down the stereo or TV.
Home Selling Tips #15.Keep a Low Profile
Nobody knows your home as well as you do but the Real Estate Professional accompanying the buyers know what they need and what they want. If you absolutely need to stay home for a showing, do your best to stay in the background.
Home Selling Tips #16.Don't Turn Your Home into a Second-Hand Store
When prospects come to view your home, don't distract them with offers to sell those furnishings you no longer need. Whether it's the kitchen table, bar stools or a lamp.
If you've covered these 16 Home Selling Tips in the sale of your home, you may have to ask yourself "what is our agent doing?" We suggest the following questions:
1. Where are you advertising my home?
2. What has been the feedback on the showings?
3. How many hits are we getting on line?
4. How do you feel our price is compared to other homes like ours?
5. What do you have planned for marketing our home in the next 30 days?
SELL YOUR HOME FOR A $6,900 FLAT FEE! SELL YOUR HOME FASTER AND FOR MORE MONEY WITH THE PROPERTY FINDERS GUARANTEED HOME SELLING SYSTEM WHEN YOU LIST WITH THE PROPERTY FINDERS YOU GET THES
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