Szabolcs Pall - Blog - Szabolcs Pall

Recent Blog Posts by Szabolcs Pall
Did you hire the right agent? Why hiring the right agent will directly affect the amount of money you pocket? It simply comes down to motivation. Is the person you are thinking of hiring driven by their desire to help you reach your goals, or are they trying to reach theirs? Choosing the right REALTOR®, matters! It matters in their philosophy, their work ethic, their support system and network of peers, and especially ... Posted by Szabolcs Pall on May 2, 2012		More
Will I need an Appraisal? Did you know… Banks can only finance the Appraised Value or the Offer Value, whichever is lesser of the two? The appraisal method of determining value for residential real estate is the Comparison Approach, and appraisers use the same database of information as REALTORS to determine property values. Appraisers determine value based on what Buyers are willing to pay for a property ... Posted by Szabolcs Pall on February 7, 2012		More
Location, location, location... no longer enough! Location, location, location is simply no longer enough. You need to start thinking about Timing when trying to get the most out of your investment. Of course location and size of the home will always be at the top of anyone’s list when assigning value to a property, that’s likely never going to change. But another important factor these days is price. ... Posted by Szabolcs Pall on February 6, 2012		More
CMHC warns on household debt CMHC warns on household debt Christine Dobby Dec 29, 2011 – 1:24 PM ET \| Last Updated: Dec 29, 2011 4:52 PM ET REUTERS/Mike Cassese Residential mortgages remain the largest component of Canadian household debt, but personal lines of credit are growing at double-digit rates and stood at more than 25% of household debt held by chartered banks in 2010, according to a report ... Posted by Szabolcs Pall on January 5, 2012		More
Mortgage pre-qualification vs. pre-approval Mortgage pre-qualification vs. pre-approval by RateHub.ca What's the difference between a mortgage pre-qualification and mortgage pre-approval? Often used interchangeably, these do not mean the same thing. Mortgage jargon is tricky territory to navigate and the terms "pre-qualification" and "pre-approval" are no exception. Don't make ... Posted by Szabolcs Pall on January 5, 2012		More
Smooth sailing for home sales in September Smooth sailing for home sales in September Members of the Ottawa Real Estate Board sold 1,202 residential properties in September through the Board's Multiple Listing Service® system compared with 1,071 in September 2010, an increase of 12.2 per cent. The five-year average for September sales is 1,160. Of those sales, 280 were in the condominium property class, while 922 were in the residential ... Posted by Szabolcs Pall on October 5, 2011		More
Above-average home sales in August Above-average home sales in August Members of the Ottawa Real Estate Board sold 1,329 residential properties in August through the Board's Multiple Listing Service® system compared with 1,099 in August 2010, an increase of 20.9 per cent. The five-year average for August sales is 1,225. Of those sales, 285 were in the condominium property class, while 1,044 were in the residential property class. ... Posted by Szabolcs Pall on September 7, 2011		More
Thinking of selling privately? Thinking of selling privately? Did you know a private sale is not as straight forward as it sounds? Buyers that see a home for sale ‘by the owner’ often see a bargain. The problem for the seller is that the buyer thinks they, and not you are entitled to the savings in real estate fees. With this mindset, a lowball offer is usually the result and any perceived “savings” ... Posted by Szabolcs Pall on July 6, 2011		More
Why buying from the listing agent is not a good idea Why buying from the Listing Agent is not a good idea If you are a Buyer, is it better to buy from the Listing Agent (L/A), rather than using your own realtor? Sure the thought has crossed our minds, the agent will be happy to double-end at a reduced fee, the seller will net the same amount, sounds great, doesn't it? Except when you break down the transaction, you quickly realize that ... Posted by Szabolcs Pall on July 6, 2011		More
If freehold, why the monthly fee? Did you know… some freehold townhomes carry a monthly fee? This ‘association’ fee usually covers a snow removal contract and can vary depending on the size of the complex. It can sometimes add up to a substantial amount, without reaping the added benefits of owning a condo townhome. So be sure to ask if what you’re buying is condo or freehold! See CMHC's ... Posted by Szabolcs Pall on June 21, 2011		More
April sales return to pre - HST levels April sales return to pre-HST levels Members of the Ottawa Real Estate Board sold 1,536 residential properties in April through the Board's Multiple Listing Service® system compared with 1,814 in April 2010, a decrease of 15.3 per cent. The five-year average for home sales in April is 1,612. Of those sales, 316 were in the condominium property class, while 1,220 were in the residential ... Posted by Szabolcs Pall on May 5, 2011		More
March sales back to normal after HST-fueled 2010 March sales back to normal after HST-fueled 2010 Members of the Ottawa Real Estate Board sold 1,232 residential properties in March through the Board's Multiple Listing Service® system compared with 1,495 in March 2010, a decrease of 17.6 per cent. The five-year average for home sales in March is 1,256. Of those sales, 296 were in the condominium property class, while 936 were in the residential ... Posted by Szabolcs Pall on April 5, 2011		More
30 Year Amortization Did you know … as of March 18th 2011, you will no longer be able to take out a mortgage with an amortization period of more than 30 years. The change was implemented as a preventive measure to ensure people aren't over extending themselves. Some banks are taking advantage of this to offer incentives for would be home purchasers before the deadline, so take advantage now! ready2move.ca ... Posted by Szabolcs Pall on March 17, 2011		More
How do YOU see your clients? What's the best part about my job? The freedom, the people, the homes, they all add to the enjoyment of being a REALTOR in Ottawa. But even more than that is the feeling that I'm making a difference. Cue the orchestra. :-) Sure they might have got great service from someone else, I believe there are a lot of really good agents out there, and I’m certainly not saying I'm the only one. But being ... Posted by Szabolcs Pall on March 17, 2011		More
Why now is the best time to buy a house Did you know … there are great incentives to help you get started in Real Estate? You may use up to $25,000 of your RRSP towards your down payment, and may qualify for an immediate rebate up to $2,000 on your Land Transfer Tax. The Government will kick in a $750 tax credit, not to mention the specials offered by key partners as part of our VIP program. Posted by Szabolcs Pall on March 17, 2011		More
Home Ownership - Learn before you leap! My brother recently asked about what I thought was the best smart phone on the market. Sure there are tons of web-sites dedicated to this stuff, and he has probably read them all, but like most anything you purchase, it’s often best to ask someone who’s had some firsthand experience with the bloody things. And it’s with that in mind that we decided to host a live session ... Posted by Szabolcs Pall on March 17, 2011		More
Nothing unusual about January resale home sales Nothing unusual about January resale home sales Members of the Ottawa Real Estate Board sold 675 residential properties in January through the Board's Multiple Listing Service® system compared with 719 in January 2010, a decrease of 6.1 per cent. Of those sales, 135 were in the condominium property class, while 540 were in the residential property class. The condominium property class includes ... Posted by Szabolcs Pall on February 7, 2011		More
Buying or Selling? Need help? Are you thinking of buying or selling a home this year? What’s the process, and when should you get started? It starts with contacting a REALTOR® to learn about your local market, but the timing can vary depending on when you want to move. If you have a house to sell, I advise clients to consider approximately 90 days to properly market the property, and then add 60 days to ... Posted by Szabolcs Pall on January 8, 2011		More
How's the market? How’s the housing market? It couldn’t be any better if you ask me, and let me explain why: While the Residential Unit sales on the Ottawa Real Estate Board are down, our Condominium Unit numbers are up from last year at this time. And let me remind you, that we had a record breaking year in 2009 which makes the numbers even more impressive. Residential prices have increased approximately ... Posted by Szabolcs Pall on December 29, 2010		More
Did you get a good deal? Did you know that a home is only worth what someone is willing to pay for it? This notion of a "good deal" is only in the minds of the buyer and or seller. A home properly exposed to the market by a motivated seller for a sufficient amount of time will eventually sell for the price the market is willing to bare. This is called Market Value, and will not always be the Listed Price. ... Posted by Szabolcs Pall on December 13, 2010		More
3 reasons you should sell, now! Waiting till spring? Here are 3 reasons why you should get your home on the market, right now! If it’s something you’ve been considering but are getting mixed messages from the industry and agents, here are my top reasons, why hesitating could end up costing you! 1) Interest Rates. The banks are practically giving money away. 2) ... Posted by Szabolcs Pall on November 11, 2010		More
Got an old bungalow? Did you know some insurance companies will not ensure homes with aluminum wiring, due to potential fire hazards? If you have a townhouse or bungalow built in the 70s, you may have aluminum wiring. The fix is easy, but time consuming and should be done by pros. Simply add copper wire pigtails to all outlets and switches and have the ESA inspect / certify the work is done! ready2move? Posted by Szabolcs Pall on November 9, 2010		More
5 Deal Breakers 5 Deal Breakers Did you know that there are 5 key items that Buyers are checking for when evaluating a house? They typically concern themselves with: The age of the Windows Age/Condition of the Roof Age of Furnace Age of HWT Any Visible Leaks and Cracks So as a Seller, ensuring that you're able to produce receipts/documents for any work performed on these items will go ... Posted by Szabolcs Pall on September 16, 2010		More
You just submited an offer, now what? Are you left wondering? TD is running a great commercial on TV depicting an anxious couple asking; ‘What if they don’t accept our offer?’. The answer is in the form of another question; ‘What if they do?’ And this highlights a very real depiction of what some people without proper representation are experiencing today. So where do they get answers? ... Posted by Szabolcs Pall on September 16, 2010		More
Ottawa School Boards School's in! For people relocating to the Ottawa area, or those with kids simply looking to move to a new location, and wanting to know where the schools are closest to your home: Ottawa-Carleton District School Board As Ottawa’s largest school board, the Ottawa-Carleton District School Board welcomes all students by providing a wide range of programs, extra-curricular ... Posted by Szabolcs Pall on August 31, 2010		More

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