Real Estate Quotes

Thoroughly examine the status certificate of the unit you are considering and the financial yearly reports of the complex. Find out any expected or likely future increases in maintenance fees. [2013] - Dan S. Barnabic

Bachelor and junior bedroom units are harder to sell than one-bedroom units, units with a den, or two-bedroom units. Even single people or childless couples tend to prefer two-bedroom condos because the second bedroom can be used as an office or for guests. [2013] - Dan S. Barnabic

Units located in the vicinity of power lines and busy roadways or railway tracks are less desirable and therefore more difficult to resell. The same is true of units that were bought without a parking space or without an option to by one. Units with nine-foot ceilings are much more attractive than ones with lower ceilings. The view from the unit is equally important. A unit facing another building across the street will fetch a lower price than one with a clear view of open spaces. [2013] - Dan S. Barnabic

Closing costs may include the mortgage arranging fees, insurance, home inspection fees, legal costs and disbursements, property transfer tax, land transfer tax, life insurance, and property and fire insurance. Those closing costs can range anywhere from 1.5 to 3.5 percent of the total cost of your property. [2013] - Dan S. Barnabic

The only way to maintain overpriced, expensive homes and make them look affordable is to have them financed at very low interest rates. [2013] - Dan S. Barnabic

Renting seems to be more advantageous for people who do not plan to stay in the same premises for more than four to five years, and buying is more advantageous for those who decide to stay for a longer period. [2013] - Dan S. Barnabic

The most opportune and favourable time to buy is during a so-called buyer's market, when many real estate products, including condominiums, are offered at cheaper prices. Buying when the market is high and "going with the flow," hoping that prices will continue to rise, may not be such a good idea. An oversupplied market is a buyer's market. An undersupplied market is a seller's market. [2013] - Dan S. Barnabic

It is important to note that it is not disadvantageous to rent rather than buy, especially during times of inflated and unaffordable real estate prices. [2013] - Dan S. Barnabic

By the time a condominium complex is 40 years old, it will have gone through several partial or complete retrofits, likely in stages. [2013] - Dan S. Barnabic

Generally speaking, when more than 10 percent of the unit owners become insolvent, unable to carry monthly mortgage payments, and their mortgage holders sell such units at fair sale prices, the overall value of all the units in the complex diminishes. [2013] - Dan S. Barnabic

A housing slowdown in Canada may signal the end of a prosperous cycle. A serious market correction, already overdue, is likely to happen sooner rather than later. [2013] - Dan S. Barnabic

In time, it will likely become evident that buying condominium units through a corporation without giving personal guarantees may be prudent even for those who consider themselves financially sound and secure. [2013] - Dan S. Barnabic

When you take the last 20-plus years and graph both the housing market percentage increase and the underlying Bank of Canada rate, you can see that interest rates play quite a minor role. Investors who buy and hold real estate will benefit from interest rate increases because more people will stick with renting rather than buying, thus pushing vacancy rates down and rents up. [2013] - Don R. Campbell

If demand puts upward pressure on housing prices without a corresponding increase in average income, this strong increase is likely not sustainable. [2013] - Don R. Campbell

The Royal Bank of Canada produces a quarterly report on housing affordability (www.rbc.com/economics). A well-balanced market for investors has a Housing Affordability Index of 33 per cent. Sophisticated investors look for cities and towns in the 25 to 29 range. Towns and cities above 39 per cent are most likely going to under-perform over the long term as they are overpriced relative to the ability for the citizens to afford it. [2013] - Don R. Campbell

The real estate Doppler Effect occurs when one city or town's economic windfall (e.g., a new manufacturing factory or plans to increase production and employee numbers) impacts nearby cities or towns. Homebuyers and investors can also take advantage of the micro-Doppler Effect. It occurs in areas that surround economically-strong communities and in neighbourhoods near those being revitalized thanks to a new development (e.g., a new post-secondary campus or a healthcare facility). [2013] - Don R. Campbell

Homes located within 800 meters of public transit stations will appreciate 12-15% more quickly than their market peers. Conversely, values decline more slowly if markets drop. [2013] - Don R. Campbell

10 Fundamentals of Real Estate Investing: 1. Mortgage interest rates. 2. The net wealth effect. 3. Increased job growth and in-migration. 4. The real estate Doppler effect. 5. Local, regional and provincial political climate. 6. Critical infrastructure expansion. 7. Areas in transition. 8. Creating highest and best use. 9. Buy wholesale sell retail: stratification. 10. Quality marketing. [2013] - Don R. Campbell

Here are some of the main players you'll need on your bench: real estate agents, mortgage brokers and bankers, property managers, inspectors/appraisers, bookkeeper, professional advisors (lawyers, accountants), other successful investors, joint-venture partners and life partners. [2013] - Don R. Campbell

Mortgage fraud is complicated. At its most basic level, it involves individuals signing false mortgage documents (like one that says you plan to live in a property even though you do not plan to make it your residence). [2013] - Don R. Campbell