Tag: Real Estate

Real Estate - ANALYSIS, Uncategorized

The Real Estate Bargain Bin

Where to find the best deals? Here are the best ‘bins’ to keep your tabs on:

 1. Estate Sales

An unfortunate effect of the beautiful lives we all lead, is that one day we will eventually pass away. What happens to a person’s home once they pass? Quite often, the family sells the property and gives the proceeds to whichever direction the will intended, and all the bills and debts are paid.

Why is this an opportunity? Quite often these Sellers are looking to unload their property quickly and just want it SOLD so they can move on – giving YOU, the buyer, an opportunity to walk in and potentially acquire the property for a discount.

2. Power of Sale

High credit card balances? Line of Credit out of control? Budget completely blown? Many people will answer YES to this question, and to these people, sometimes it is just TOO MUCH and they need to sell their homes to downsize and decrease their debt payments. Sometimes these people can’t even pay the mortgage or taxes, and the bank will seize the property and appoint a Realtor to sell it to re-coup the loan!

Why is this an opportunity? Again, motivated Sellers – that’s the key. These people need to sell their home and get their bills paid asap. Money talks, and if you can get yours in front of them first – it might give you an edge.

3. Handyman Specials

 Nice personality, but needs a little lipstick? Look no further than your neighbourhood ‘handyman specials’. These homes come from a variety of sources – from those that can’t keep a house to those that tried to flip but flopped. Pick up these homes at a bargain!

 Why is this an opportunity? Well, a property that is hard on the eyes is often hard to enjoy. A property that is hard to enjoy is hardly valuable, and hence comes at a discount because there is little to no demand in the regular everyday market. These sellers realize quickly that their home wont sell for the average price, and may need simply be in dire need to move on.

 4. Private Sellers

These Sellers have opted to sort through a riff raff of buyers themselves, and learn to pre-qualify them, negotiate with them, and close them. Let me tell you – not as easy as it sounds. Some of them even decide to work exclusively with un-qualified buyers that share the highest level of incompetence and advertise that they do not want agents to bring quality buyers to them!

Why is this an opportunity? Knowledge is power, and these folks, quite often, have little of either. Now there will be the odd exception, however the mass of these sellers did not price their homes correctly and can therefore not defend their price properly, they do not know how to negotiate (and are not even aware of) terms and conditions in a contract that can make a deal even MORE favourable than a low price, and therefore are not best suited to get the best advantages in a deal. Now I have never, and will never be unethical or unprofessional with a Private Seller, however; when I represent a buyer it is my obligation to get them the best deal possible.

Tricks of the Trade: I am able to manipulate the MLS database to search for homes by Seller (i.e. Contains “ Estate” or “Bank”) and can also search by keyword (i.e. Contains “handyman”, “tlc” or “flip”). Furthermore, I can have listings that match these criteria automatically sent to my clients inboxes the minute they are uploaded by other realtors, bypassing the overnight delay by the Ottawa Real Estate board, and therefore giving my clients a window of opportunity to view listings before the public does. This also really limits the homes my clients see to what they really want, instead of filtering through a hundred listings that “might work”. Pretty much any information that is related to a listing, I can transform into search criteria and can sort, sift and organize automatically and have sent out. These aren’t generic searches either (price range, location criteria), I’m talking digging deep and going above and beyond to get the cream of the crop. With regards to private sellers, most are open to working with me once I talk to them about the calibre of buyers I work with and the other ways in which I can help them, but they are really leaving themselves open to all kinds of pitfalls. Not only is pricing an area where they are at a disadvantage, but they are also (quite often) not well versed in legal matters (yes – contracts are complex legal documents), but also in the coordination and timing of all the related professionals that will all play a role in the success of the deal.

I hope you enjoyed the insight into the Real Estate Bargain Bin!

If you would like access to the BINS, and keep your tabs on any of them, simply visit www.RealEstateBargainBin.info

Cheers!

Real Estate - ANALYSIS

The 4.5 Best Tips To Attract More Buyers and Make Them Pay More For Your Home.

1. Price Your Home Right

This is by far the most important part of the selling process; after all, anyone can sell a house if it’s priced below what the true value should be, right? Heaven forbid you price yourself too high, and then your home might not sell at all. Don’t rely on other comparable listing prices – aim for SALE prices. Remember – properties for sale are also properties that haven’t sold, so why would you base your price in relation to them? You want to SELL, so find out what the comparables SOLD for, and price accordingly.

Try This: Contact the Land Registry office in Ottawa at http://www.ontario.ca/en/ services_ for_residents/STEL02_165696 for sale prices. Another great way to obtain these prices would be to get a Comparable Market Analysis (CMA) from a Realtor.

2. Provide Maximum Exposure

This is Marketing 101: More Exposure = More Buyers = Higher Demand = Higher Sales Price. You need to make sure you are getting as much exposure as possible; an internet posting and a Home Depot sign on the front lawn will simply not suffice in this day and age.

Try this: Spend some time uploading your listing on as many websites as you can, and use keywords in your listing description that will come up in searches. Put an information package together on your property and send it out to the top-selling agents in the area, and leave some at home for potential buyers.

  3. Take Your Home Seriously

 Is there ever was a time – this is it. You want to make sure that your home is portrayed in the best light as possible. Potential Buyers should feel privileged to purchase a home as desirable as yours, right?

 Try This: Clean and de-clutter. Invest in some storage organizers and get your home in order. Revive your home with a Spring Cleaning regardless of the season. If you can’t take great pictures, pay someone to. Professional photography brings out the best in your home, and will give it that WOW factor. 

Have a look at www.FitToSell.ca for ideas!

 4. Focus Marketing on ‘Premium Paying’ Buyers, and Filter out Bargain Hunters

 Why would anyone shop purely for private sales? To find a bargain, that’s why! Don’t attract a swarm of bargain hunters and set yourself apart from the rest.

 Try This: Insist that buyers either bring a letter from their lending institution saying that they are qualified to purchase a home such as yours, or that they are accompanied by a Realtor. Not only should Realtors should only be showing a buyer properties that they are qualified to purchase, those very buyers that are working with Realtors understand that they are viewing homes with commissions ‘built-in’, and are therefore prepared to purchase a home that will have a slight premium attached to it. Which would you rather, a swarm of bargain hunters, or a swarm of premium payers? Realtor’s attract premium payers because Buyers trust the brokerage, feel confident in it’s abilities and reputation, and require professional results. Offer as much money to a cooperating brokerage as you feel comfortable. You will attract the cream of the crop Realtors and Buyers – and the Realtors will have more incentive than ever to close a deal with more commission at stake, so you may very well be able to re-coup the commission in your price and/or negotiations.

 4.5 Consider a Professional

Remember, homeowners have ALWAYS had the ability to sell their homes privately, right?

So ask yourself – why was the industry ever created in the first place?

 A few reasons include (but are not limited to): 

  • Professional execution of the four points listed above
  • Strong negotiations that retain money and protect interests
  • Ensuring the coordination and cooperation of all parties involved (lawyers, inspectors, appraisers, engineers, other Realtors, other buyer/sellers), so that a deal is not fumbled due to miscommunication or incompetence.
  • Professionalism and experience to protect clients from various legal pitfalls.
  • Proper completion of various legal documents
  • Full time efforts and advocacy for properties

Would you spend a dollar to earn two? With a good Realtor, commission is an investment that will NET you more money at the end of the day (Notice I specified – with a GOOD Realtor?).

After all, what is more important – how much you invest in a professional, or how much money you NET?

 I trust this information was helpful to you! If you have any questions or concerns, please do not hesitate to contact me at any time personally at (613)868-4383

For a FREE and NO-OBLIGATION Comparable Market Analysis of your home, email me at MarcEvans@remax.net

Ask about the 6 smartest home renovations!

Thought Process - THOUGHT PROVOKING

The man who defends himself in court has a fool for a lawyer.

One thing that gets to me is how some Salesman position themselves. Many of them, if not MOST of them, position themselves as middlemen that are merely a commodity that is interchangeable with their competition. What I mean is, there is this mentality that because they are in the middle, they are entitled to something strictly because of that, and that is the only real reason they exist – like they are some sort of gateway to the desired end result the customer desires. Really? Is that all you are? Well then, why WOULDN’T I try to find some way around this pain in ‘my side’ hurdle that is a salesman? Well – you would, and you should – if that is all the salesman is in your particular situation.

The best part of all, is the tactics these ‘salesmen’ use to get the vast majority of their business – and that is to negotiate on price. Everyone is so worried about price. “How much will it cost?” or “How much will you charge?” are things that are debated in the ‘price debates’. Come one now. Have some vision! What about how you are going to profit from a deal? Price only lasts for the second you shake hands and satisfies your ego – what about the effects the deal will have on your current situation and your goals? Will it put you in a better position and closer to where you want to be? It reminds me of those fast food commercials that have been playing around with this very idea – you know, the ones where the guys are around the lunch table and one of them is eating this tiny little burger and miniature fry – looks over at his colleagues and says “5 bucks!”, then the colleagues swallow a bite of their large Subway sandwiches (or whatever they are) and say “5 bucks!”. What a genius that price-driven shopper looked like! Did he get a deal or what? You know the old adage; you get what you…….  This is compared to the value-driven shopper that looked for how much he could benefit from spending his money. He saw an added value to his decision, and made a wise choice.  I know the example isn’t perfect because they paid the same thing, but the idea is what the motives were behind the purchasing decision.

Getting back to the larger picture here – lets say you are talking about a major purchase that will affect the lives of you and your family for years to come. Are you FOCUSED on a few thousand bucks? Or are you focused on the best benefit for you and your family, and yes – how much you will PROFIT from the deal. Sometimes it costs a little more up front to get a better end result. And what if a Salesman’s higher commission and subsequent harder work and better results actually earn you MORE profit than you would have with the cheaper priced competitor? Salesman A costs $10 and earns you $20, but Salesman B costs $100 an earns you $1000 – which would you choose? “Uhh… I only paid $20 for my salesman, and you paid $100! I got a better deal!” That doesn’t make any sense, does it? So why are people so focused on the up-front price?

Example: You get charged with a crime that you did not commit, and the potential sentence is a few years in jail and lots of probation (not sure how that works, but sounds about right). Do you show up and defend yourself? Do you take the court-appointed lawyer? Do you shop for a lawyer based on price? Or do you shop for the best lawyer you can afford that will deliver RESULTS? The saying goes –“ The man who defends himself in court has a fool for a lawyer”. O.J. Simpson + Robert Shapiro and Johnnie Cochran = Not Guilty.  Infer away.

Why do people buy cars with 20+ airbags and highest safety ratings, when there are other cars that will get them from A to B for half the price?

Exactly.

 Back to this price negotiating tactic. Put yourselves in a Salesman’s shoes. A customer comes to you and says they are interested in a product that you can provide, and you are in a position to make sure they get the very best product that suits their needs, and provide them with such a good service that they will be completely satisfied with you, have rave reviews about you and potentially turn into repeat and/or referral business. You have the ability to over-deliver, add your own ‘elbow grease’ to get them a better deal than anywhere else, and build a meaningful business relationship based on success and good business. Now you go through all of your bright ideas to think about how you can help them profit the MOST from the opportunity in front of you, and you open your mouth and say, “I can do the job for lower commission to save you some money”.

 Really? Is that how valuable you are?

 Why don’t I ask Bob over here right next to you if he will do the job for ‘your price minus fifty bucks’? Cause apparently that is all you have to offer, so let me explore how MUCH I can profit.

 See where this goes? Slippery Slope anyone?

Now rewind a minute or two and think for a second. You realize that the customer isn’t exactly sure what they want, and you know you can help them determine the exact need you have to address, put together some options for them that will work, and go the extra mile to find a great deal somewhere (maybe be proactive and try to drum up some supply for them from a unique source) and follow through to make sure they have everything they need, and they have satisfied all those needs and wants, and even a few they didn’t know they had or needed.

No will Bob do that? I don’t think so. Bob is simply a middle man and is about as creative as a doorknob.

Don’t be Bob.

Don’t look for Bob.

Don’t look for what is over his shoulder and wonder how far backwards he will bend to reach and get it for you. He might grab whatever peg he can squeeze into the hole, and then forget you the second you turn around. Who? What?

Look for the salesperson with the ability to listen and take the time and effort to get you what you need. The one who can explain your options and is willing to take a risk and put in legwork to get you the best of those options.

Does that make sense?

I’m just frustrated with all the Bob’s I’ve been meeting and seeing around lately.

No offence if your name is Bob. Or Rob for that matter.     🙂

Happy Buying!

Cheers

P.S. Havent written a blog in a while – I’ve been pretty darn buys and got carried away, so I apologize to all the readers and those of you who enjoy a could debate. You are all a great source of information and I promise to make a better effort to engage you more often! If you have any questions or concerns, or want a friendly and intelligent debate – contact me anytime!

In the name of progress…..

Real Estate - ANALYSIS, Uncategorized

Selling Your Home Yourself? Remember These 5 Important Points

PRICE – Pricing the Home – MOST MONEY POSSIBLE

  • Know exact Value (Past Trends and Comparables)
  • Know Acceptable Mark-up (Street Specific)
  • Price to Situation (Low if you need to sell, higher end all else)
  • Do NOT overprice (worst thing you can do)

EXPOSURE – Marketing the Home – BEST ODDS OF MOST MONEY

  • De-Clutter and Stage
  • Signage (Front Lawn + Directional’s)
  • Print Advertising (Magazine, Newspapers)
  • Website Advertising
  • Local Advertising (Flyers, Feature Sheets in local stores)

QUALIFY – Qualified Buyers – BRING MONEY TO THE TABLE

  • Make sure they have been pre-approved
  • Verify personal circumstances to make sure they can act and aren’t wasting your valuable time
  • If they are working with a Realtor, you can be assured they are qualified

NEGOTIATE – Watch bottom line – KEEP MONEY IN YOUR POCKET

  • Remember your pricing strategy and stick to your guns
  • Play the Buyer’s role and try to identify your own weaknesses
    • Deal with them before the Buyers do

CLOSING – Secure it – FOLLOW MONEY TO YOUR BANK ACCOUNT

  • Contracts, Clauses and Conditions
  • Schedule Conditions and Manage them
  • Be diligent until deal is tendered

 

Be smart, be prepared, work hard and a Profitable Sale can be made – I do it all the time.

To get you started, I would be glad to offer you some of the basic sales statistics in your area to give you a better idea of how to price your home– no obligation.

If at any time you would like to hear how I can significantly increase the odds of bringing good money to the table, keep it in your pocket and make sure it gets to your bank account – please do not hesitate to ask me. It’s my job and I am very good at what I do.

Real Estate - ANALYSIS, Uncategorized

SPOTLIGHT: Spring Valley Trails (Claridge in Orleans/Navan)

Curious about all the buzz about the new Claridge Homes in the Mer Bleue Conservation area?  Have you been hearing about these homes but haven’t had the chance to get out there yet?  In this piece I will be taking a closer look at this development and giving you an insiders peek at what has been eating up the new home market share in Orleans / Navan.

 First and foremost, I should provide you with the Spring Valley website, which is http://www.claridgehomes.com/Find%20A%20New%20Home/Spring%20Valley%20Trails/index.html .

 Second, a little history…

 In 1971, Bill Malhotra immigrated to Canada and took up jobs as a consulting engineer and then Chief Structural Engineer for the city of Ottawa, where he developed a strong understanding of the local development community. In 1986, Mr. Malhotra built his first home and started the Claridge Homes Group of Companies which now employs more than 150 full-time people and has become a market leader in home building and high-rise property development. Enough History.

Fast forward to today: One of their more recent developments is Spring Valley Trails, located in the Mer Bleue conservation area in Navan.

Entry to this development starts at $231,900.00

One of the major appeals of this area has to be the surrounding environment and its appeal to the outdoor enthusiast. This community is riddled with stunning views, sprawling parklands and walking trails that will attract buyers just as much as the homes themselves will ( don’t worry – I’ve included pictures!)

 Spring Valley Trails has a variety of bungalows, semi-bungalows, singles homes varying frontages to give you as much yard as you desire, semi-detached homes and the ever row-unit townhome models. Between these five housing types, there are up to THIRTY NINE models to choose from, so you can find a great match to suit your personality and lifestyle.

Some of the more popular features and finishes in these homes include:

  • Embossed, colonial-style steel sectional, overhead garage door
  • Architecturally styled, exterior and brick details as per plan
  • Central vacuum system rough-in
  • Water saver low-flush toilets
  • Pre-moulded or Roman tub in ensuite bathrooms as per brochure
  • China sink in all bathroom vanities as per brochure
  • Gas burning fireplace as per brochure
  • Solid oak handrails and spindles as per plan
  • Quality crafter kitchen cabinets and countertops from builders standard samples
  • Pre-cast patio stone walkway
  • One year warranty with Claridge Homes

 

It should be noted that the official website boasts over 80 features and finishes in their new homes!

Furthermore, they are offering a special bonus offer on their Semis and Towns that see a fridge, stove, dishwasher, finished basement recroom and gas fireplace (excluding the Avondale model) all included! Singles are offering included hardwood in living/ dining and lower hall area, ceramic in main and ensuite baths and nine foot ceilings!

To get to the Sales office, you can go down Page Road, then right after Navan road you would turn right down Renaud. Alternatively, you can take Mer Bleue down to Renaud and go right as well.

Merbleue01

 

 

 

 

 

 

 

Note: These photos are slightly outdated.

Merbleue02 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quick shots of surrounding environment:

 Merbleue03

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Friends of mine who have recently purchased a Claridge home have said the following:

“We chose to buy from Spring Valley Trails because of the amazing location in the rapidly growing area of Orleans. They have gorgeous floor plans, many of which have that open concept which we truly adore. The prices were quite reasonable, and while we chose to purchase some upgrades, the base models were also very attractive and of high quality.”

 Another one said :

“Here are some of the reasons why we bought our Claridge home (which, P.S. we’re moving into in about TWO WEEKS TIME! Eeeeee!)

  • Spring Valley Trails offered us great incentives which included hardwood flooring on the main level, ceramic tiles in the kitchen, foyer, and bathrooms, a finished basement, air conditioning, a gas fireplace, and $1250 towards appliances.
  • We are outdoor enthusiasts and love the location of this new development. It’s very close to the Mer Bleu Conservation Area and the Navan Township.
  • The Trim and Innes (Avalon) areas boast beautiful homes, but we find it much too congested for our liking. Although it will grow, Spring Valley Trails is tucked away from the busy shopping and traffic on Innes Road but still provides great access to everything we need.
  • We wanted to buy into Phase 1 of a new development to allow for a greater profit when we sell.”

 

For more information on Spring Valley Trails, please feel free to contact me at any time! It would be my pleasure to provide you with any kind of information or services that I can.

 I’m here to help!

 All the best,

 card

Real Estate - ANALYSIS

This is what a Fortune looks like when it is born.

Remember my rant about the best things in life being free? Free things like information?

Remember how I said some people would find it scary that I would make this information public to you, since they would rather make it seem like they came with the information themselves, or they would rather bait you with it?

Well, too bad for them…

I want you and everyone to have this information so we can elevate ourselves in terms of our savviness, real estate positioning and subsequent financial success. Let’s all have incredible properties!

Here is a start – INFORMATION. This stuff is actually PUBLIC information – but I doubt any of you know how to access it!

First up – Month over month information. Remember all the buzz about a recession? Lets look at Ottawa activity, month over month since 2003.

Graph2

See the 2009 months I highlighted? (the ones we have gone through already) On average, ther are not too off from 2008 averages – slightly above in some cases, slightly below in others.

See the decline in 2008 prices from about June to December (in red?) Then our latest few months have indicated an INCREASE!

Now look at a specific batch of years by month. lets look at January for arguments sake (first one). 2003 to 2009 = see the increase? A little over 200 to just under 290 in 6 years!!

These numbers are from the Ottawa Real Estate Board a.k.a the horses mouth – so dont just take my word for it!

 

Here is another quick one: Year over year since 1996 – so 13 years and a few months

Graph

What does that say – about 137.5K to about 268-270K ?

Think about that… if you bought a house for 137.5K ten years ago, you would now have 132K in appreciated equity PLUS whatever the principal went down to over time, PLUS whatever POSITIVE CASH FLOW you would have earned over time as a result of making the most out of your equity in your house (i.e. after 5 years, taking out equity to finance a low maintenance investment property that earns you hundreds of dollars a month IN YOUR JEANS).

Ever feel like wealth is just too far out of reach to even properly imagine? Ever wonder how people have made their fortunes, and dream of having seemingly endless supply of cash to rely on?

I do! All the time! Thats why I got into this business. To build wealth over the long term and to pass that on to my family and future generations.

This is what a fortune looks like in the beginning.

How about over a longer period of time? Here you go! (from an earlier post)

avg-sales 

Imagine what kind of Fortunes a 60 or 70 year old person could be leaving his family based on these figures!

Imagine if that person would have properly leveraged themselves in Real Estate and grown their portfolio over time!

Pick yourself up some Real Estate for some of the best rates this country has had in over 50 years!

Bank of Canada will show you the record lows we are experiencing right now – Prime at 2.25%!!!!

CPI (Consumer Price Index – average price increase of a basket of goods) is down to 1.2% while the average wage increase is up to 4.3% this year! Purchasing Power is HUGE right now!!

I’ve given you the information – what are you going to do with it?