June 2015 Newsletter

 

As summer unfolds, many people make plans for special gatherings. The more people gather, the more they talk. Eventually, they often wind up talking about where the real estate market is today, and where it is likely heading.

If you would like to know more about how things are shaping up for the summer and fall markets, just give me a call. You never know when the next real estate opportunity will present itself.

If you have any family or friends who need some expert real estate advice, please don’t hesitate to have them call me. I’m here to help.

 

 

 

Should You Worry About Market Fluctuations? 
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You turn on the television and watch a news story about housing prices going down. Then you receive a flyer in the mail about a property around the corner that sold for a decent price. Next you read a newspaper article about the housing market on the upswing again.

It’s a little like being on a roller-coaster ride! 

Unfortunately the ride isn’t much fun if you’re thinking of buying or selling a home. In fact, it can be very confusing and frustrating. You just don’t know if “now” is the right time to make a move. 

In reality, the housing market has been fluctuating for decades. Yet, people sell their homes every day for good prices, and just as many people get into their next dream homes affordably. 

When you hear news of market fluctuations, there are two important things to consider. 

First of all, a lot of media information about the housing market is national, or at least regional. If the housing market is trending up or down nationally, remember that it doesn’t necessarily mean that your LOCAL market is doing the same.

In fact, it’s entirely possible for housing prices to be rising in your neighbourhood while they are falling nationally, and vice versa. 

Secondly, if you’re selling a current property while buying another home, then the net effect of market fluctuations may cancel out. 

Say, for example, that the local market is on the upswing. You’ll probably be able to sell your current home for a good price. However, the home you purchase will likely also be priced to reflect the upswing. 

The same holds true when the market is down.

All that being said, there are some circumstances in which you need to consider market fluctuations when deciding whether or not to make a move. A good REALTOR® will help.

Looking for a good REALTOR®? Call today.

 

Home Shopping And The Four-Legged Stool
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What kind of stool is most likely to keep you from toppling over when you sit on it? Of course, two-legged stools won’t even stand on their own. Three-legged stools are okay, but still unstable. Four-legged stools are rock solid. 

What does that have to do with shopping for a new home?

Well, if you want to find the right home quickly and for the best price, you need to have four things in place – the four legs of the stool. They will help ensure the experience goes smoothly. 

The first leg is your wish list. You need to have a clear picture of the type of home you want. A bungalow or two stories? How many bedrooms? A large deck? Don’t forget about the neighbourhood. Need to be close to major highways for ease of commuting? Need good schools and playgrounds within walking distance? 

The second leg is a pre-approved mortgage. Getting the financing handled upfront takes the guesswork out of what you can afford. Sellers and their REALTORS® are more likely to take any offers you make more seriously too. 

The third leg is realistic expectations. Of homes that sell, 99% sell at or near their current market values. That doesn’t mean you can’t find a good deal. It does mean you’re unlikely to find a “steal”. Fortunately, there are likely several wonderful properties available within your price range.

The final leg of the stool is a great REALTOR®. Choosing the right real estate professional is crucial to making your home shopping experience less stressful and more productive. 

So when you’re hunting for a new home, make sure you start with a stable “four-legged stool”. It will dramatically increase your chances of finding a home that fits your needs and budget. 

Need help with that? Call today.

 

Dealing With A Home Inspection Issue
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As you may know, it’s common to include a home inspection as a condition of an offer you make. It protects you from issues that you might not otherwise see during a viewing. 

What do you do if the home inspector finds something wrong? The inspector might find a leak in the foundation, or windows that are old, drafty and need replacing. 

Must you pass on a property that you otherwise like? 

Not necessarily. Just because the home inspector discovered a deficiency doesn’t necessarily mean you shouldn’t purchase the home. You should, however, bring the issue up with the seller. 

Your REALTOR® will do that on your behalf, and look after your interests.

In many circumstances, your REALTOR® will be able to negotiate an agreement that is satisfactory to everyone involved. This will usually be in the form of a reduction in the sale price to cover some or all of the costs of the repair, or a requirement to have the seller get the repairs done before you move in. 

So don’t worry if the inspector finds something wrong. Chances are you can still get the home and have any issues dealt with to your satisfaction.

 

notable, quotable... quotes! 

 

“Luck is a matter of preparation meeting opportunity.”

Oprah Winfrey

 

“Your mind is like a parachute, it works best when it’s opened.”

Author Unknown 

 

“I, not events, have the power to make me happy or unhappy today. I can choose which it shall be.” 

Groucho Marx

 

 

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Edmond Ishag

Edmond Ishag

Real Estate Broker
CENTURY 21 Leading Edge Realty Inc., Brokerage*
Contact Me