| Recent Blog Posts by Szabolcs Pall | ||
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
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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
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Smooth sailing for home sales in SeptemberSmooth 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
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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
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March sales back to normal after HST-fueled 2010March 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
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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
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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
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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
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Will house prices go down?
Did you know that while CREA (Canadian Real Estate Association) is predicting that home prices next year will be down approximately 2.2%, they will have increased by 1.5% from over 2009. To put it into perspective, your $350,000 home may decrease in price by about $2,500. This is hardly anything to get into panic about, and please remember, that it's the local stats that matter. ...
Posted by Szabolcs Pall
on June 3, 2010
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Considering Selling? Some things to ask yourself first!
We're faced decisions throughout our normal day, and usually get them right without much difficulty.
But while each of us is well equipped to make every day decisions, it’s not always so simple. When we consider selling our home, that decision is one that obviously requires much greater scrutiny. Consider the following:
How much equity do I currently have? - The amount of money you ...
Posted by Szabolcs Pall
on June 1, 2010
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Hottest April on record for resale housing marketHottest April on record for resale housing market Members of the Ottawa Real Estate Board sold 1,841 residential properties in April through the Board's Multiple Listing Service® system compared with 1,591 in April 2009, an increase of 15.7 per cent. Of those sales, 425 were in the condominium property class, while 1,416 were in the residential property class. The condominium property class ...
Posted by Szabolcs Pall
on May 5, 2010
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HST and your Real Estate transactionWith the introduction of HST in Ontario starting July 1st 2010, your real estate transaction will be effected in a number of ways. While you don't have to pay HST on resale homes, the services that you use may be HST taxable. Lawyer, home inspector, appraisal, survey and real estate fees are subject to the new HST. New home purchases are also subject to HST, but you may qualify for ...
Posted by Szabolcs Pall
on February 5, 2010
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4 Stats That Make SenseHere are 4 stats that make sense and every REALTOR® should be able to tell you right off the bat!
1) Days on Market. This information can be used to inform the customer how long homes are sitting on the market. The better you price the product, the faster you can expect to move it. Don't make the mistake of pricing too high, as the house will sit on the market and become stale. ...
Posted by Szabolcs Pall
on June 1, 2009
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Market KnowledgeDid you know, that only 10% of agents attend the local MLS meeting on a regular basis? It's a great opportunity to preview up to 10 homes each week. I even find out about homes coming up for sale before they ever hit the market. My knowledge of the available housing inventory, and preview into where the market is heading, allows me to accurately price a home based not only on market ...
Posted by Szabolcs Pall
on May 1, 2009
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Home Renovation Tax CreditWhat is HRTC? It's the Home Renovation Tax Credit that was proposed in the January 27th Federal Budget, that will provide for a 15% income tax credit on eligible home renovation expenditures, and is family based. Good between January 27th 2009 and February 1st 2010, it can be claimed for the 2009 taxation year on expenditures greater than $1,000, but no more than $10,000 and can provide ...
Posted by Szabolcs Pall
on April 10, 2009
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Home Energy AuditA Home Energy Audit is something that is required before you begin making energy efficiency improvements to your home, if you plan on applying for Provincial and Federal rebates through the ecoENERGY program.
It's also something that could be mandatory in the coming months by the Ontario Government, as laid out in the Green Energy and Green Economy Act (Bill 150). Part of this Act could force ...
Posted by Szabolcs Pall
on April 10, 2009
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Housing Statistics for Waterloo RegionHousing Information as provided by Canada Mortgage and Housing Corporation, for more information visit http://www.cmhc-schl.gc.ca/en/co/buho/seca/ware/ware_002.cfm Waterloo Region has a wide range of housing types and tenures to meet the needs of various housing sizes, characteristics and income ranges. House prices in Waterloo Region are relatively affordable, lower than in Toronto and the surrounding ...
Posted by Szabolcs Pall
on June 20, 2008
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