Posts Tagged ‘remax’

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Detached home on a quite Crescent

22 Red Maple Crescent  Ottawa, Ontario

3 Beds 1 Baths

Offered at: $699,900

Welcome to Blackburn Hamlet, one of Ottawa's hidden gems where small-town charm meets urban convenience. Tucked away on a peaceful crescent, this beautiful home boasts incredible curb appeal and a warm, welcoming atmosphere from the moment you arrive. Step inside to discover spacious principal rooms filled with natural light, perfec...

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Perfect starter home close to all amenities!!!!

 Ottawa, Ontario

3 Beds 3 Baths

Offered at: $394,000

Bright & Spacious 3-Bedroom Condo in a Prime Location! Whether you're a first-time homebuyer or looking for a solid long-term investment, this charming condominium on Orient Park Drive checks all the boxes. Ideally situated within walking distance to parks, schools, shopping, restaurants, groceries and even a top-not...

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 Ottawa, Ontario

4 Beds 2 Baths

Offered at: $525,000

Welcome to 41 Glen Park Drive. A four bedroom home located in the family-friendly Blackburn Hamlet neighborhood. This spacious property offers the perfect combination of comfort, style, and potential. The home features four generously sized bedrooms, all located on the upper floor, providing plenty of space for famil...

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When you are looking at condominiums you always want the best location in the area and this one has it!

#41 - 41 Bering Court Ottawa, Ontario

3 Beds 2 Baths

Offered at: $399,900

This home offers more than meets the eye! As you step inside, you are greeted by an updated kitchen with modern finishes, perfect for preparing meals and hosting family gatherings. The spacious dining area has plenty of room for your family meals. There is also convenient two-piece powder room is located on the m...

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Let’s face it, 2022 has been nothing but rate increases and media panic about the housing market. Between the banks, the real estate industry, the government and the media it is hard to know where the truth lies.

2019 saw real estate markets take on double digit gains over the previous year. 2020 was no different in Ottawa with all the experts calling for a 9-12% gain over 2019. Then the pandemic hit and everything went haywire. Oddly, it didn’t all happen in a vacuum over the one thing. The lack of inventory that sparked the market rise was in process from 2018 forward. It was a perfect storm.

Builders stopped building “spec” homes and would only built as homes were bought. This habit began after 2008, so buying a new home began to take longer between signing papers and getting keys. Canada’s biggest population group since the baby boomers was also coming of age in terms of buying property. Immigration was at an all time high. The stressors on the market were already in place….the pandemic only served to speed up the process. For Ottawa in particular, here is what we witnessed.

1. The normal cycle of Sellers coming to market took a nosedive in 2020 – a deathly virus = “we aren’t moving”
2. Our military relocations also stalled, removing a significant secondary chunk of inventory.
3. As the pandemic forced people to work from home, companies decided their employees could work remotely creating mass exoduses from high priced markets like Toronto and Vancouver. It spread down the 401 and then up to Ottawa. Employees decided to move closer to family, or to affordable cities with good transit and schools. Lifestyle choices became paramount and goodness knows, a million dollars in Toronto’s market goes A LOT farther in Ottawa.

For a good 2 years Seller’s couldn’t believe what people were willing to pay for homes, banks were rocked on their heels by the new prices and had to review everything to make sure appraised values would meet market expectations and Buyers….the poor Buyers….were being hit with 5,10,20 competing offers and very little chance to do the due diligence that real estate requires.

For 730 days everyone we met would ask us about the market and our reply was – “do you have a crystal ball? Because mine is broken!”

There was no logic to anything, no consistency, nothing to rely on. Sales comparables were almost useless week to week, month to month….and then, just when we thought we had a bit of a handle on the style and stresses of that market, the interest rate hikes began.

Buyer’s threw their hands up and said “we need to wait” as their purchasing power changed with each announcement. Sellers that were banking on multiple offers were suddenly wondering where everyone went. It was a complete standoff…..

Everything about the housing market was in the news, from falling prices to general affordability to the horrifying tactics of the “bad apples” in real estate. There seems to be no positive or common sense information anywhere….so allow us our two cents worth;

The market is balancing. Yes, there is inventory, but still not enough. We still see multiple bids for homes of the highest caliber (location, condition, well priced) but that has almost always been so. Prices are falling, but they aren’t diving off a cliff. Buyer’s are waiting until they are SURE of what they can afford. Rest assured, they are still there (so says our list of 15-20 that are in the wings) and getting ready to enter then market again. And it’s HIGH TIME the Buyer’s could perform their due diligence with conditions for financing and inspection….bring on the scales and let’s get this market flowing nice and steady….

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Hey Everyone and welcome to our 2nd in a series we are producing around the career that we love… real estate.

This is going to be your source for some real estate straight talk – the real deal, real scenarios, myths and myth busting, the rules, the ethics, the process, the expectations – what you really need to know. So here we go!

WHY DO REAL ESTATE AGENTS ASK IF YOU ARE PRE-APPROVED?

 Have you ever walked into an open house, or called a realtor about a listing, and within minutes, they’re asking you if you are “pre-approved” for a mortgage?

If you haven’t, then you have never met a REALTOR®. Or at least enough of them…

Just wait. It’ll happen.

And you’re going to feel like it’s pretty pushy for them to ask that.

You think….you’re joking….right?

You would think its none of their business if you’re pre-approved or not!  You just want them to show you the house and you’ll get the pre-approval if you like it.

But it’s no joking matter.

You will find it depends on the REALTOR®. We all have different personalities. We all come across in different ways. We all handle how we meet, greet, and chat with consumers in different ways. There’s no one way to “be”, as a REALTOR®.

But every single REALTOR® should be asking you if you’re pre-approved. Many do not because they feel like it is a bit pushy and forward. Because he or she worries about offending you. But they should ask…

…because it’s entirely relevant for them to know.

…because it’s entirely important for you to be pre-approved.

It might come across as a pushy, or invasive question. Maybe that is because of how a REALTOR® asks the question. Or when the REALTOR® asks the question. Or, simply because you don’t know that it’s a question that should be asked.

But it is not a joking matter.

And you should expect the question, be prepared to say that you are pre-approved, and…you should actually WANT the REALTOR® to ask you that question.

It’s not like a first date where if your date asks you – “How much do you make” in the first five minutes, you’d feel like that was pushy and weird…..

Creator:Jacom Stephens
Credit:Getty Images/Vetta

and likely that would be the end of the date.

Rightfully so.

Which is why it seems so invasive when a REALTOR® you’ve just met asks you if you’re pre-approved. It feels like they’re asking you some pretty private, intimate stuff that’s none of their business.

But asking for a pre-approval isn’t like going on a first date. It isn’t a marriage proposal. And it isn’t probing on the part of the REALTOR®.

It is a necessary question, and an important piece of information us to know. And for you!

So Why do we ask you if you’re pre-approved?

We aren’t asking you if you’re pre-approved because we’re looking to size up how much you can spend. (At least not most REALTORS®…)

We want and need to know that you are serious, and qualified to buy a house.

And we certainly have their reasons for wanting to know…

As Real estate salespeople we need to make sure we are working with someone who can actually buy a house. We are one of the only service industries that doesn’t get paid unless and until the person we’re working with buys a house. So, this is a matter of being careful about who we spend our time with. It might sound selfish…but you can’t fault us for that. We’re in business. Nobody cuts us a paycheck every second week. And showing people houses is not a public service or charity work. Even working with someone who is pre-approved doesn’t guarantee that we are going to make any money. But at least it’s an indication that the person we are working with can do something.

We also need to know how much you’re pre-approved for in order to advise you as well as possible. Picture us showing you houses for weeks, and months. You finally find “the one”! You get all excited about the house, and you want to make an offer, only to find out then that there’s no way you could afford the house. This leads to heartbreak and aggravation…for both of us. It doesn’t do either of us any good to go through all of that only to find out you can’t afford the houses you were looking at…or even buy one at all.

Caring professional REALTORS® also don’t want you spending your top dollar and putting you in a mortgage poor position. No one likes bologna or hot dog budgets that much.

And, to a degree, this is a safety precaution. You might not believe this, but we are in a pretty risky position. If we just say OK to every person who calls and asks to go see a house, with absolutely no proof or verification of who the person is, that puts us at risk. Sure, a pre-approval won’t necessarily stop an evil person from doing something, but this is a pretty basic precautionary request.

So Even if you have just started looking for a home and haven’t gotten pre-approved (yet)…at least expect the question. Don’t be offended when you’re asked if you are.

In fact, pay closer attention to the REALTORS® who do ask if you’re pre-approved! The ones who ask make it easy for you to find a great REALTOR® to work with.

Because if they’re asking that question, it’s a good sign that they are thorough and thoughtful about how they do their business. That’s the type of REALTOR® you want to have on your side when you’re buying a house — one who’s careful from the get-go. One who pays attention to the details. One who isn’t going to waste your time any more than their own. Or allow your heart to be broken when you fall in love with a house you can’t do anything about.

And if you want to get some really good attention and service from the best REALTORS® you come across, don’t even let them have to ask if you are pre-approved…

Get pre-approved before you even start looking. And let the REALTOR® know you’re pre-approved before they even ask. You’ll set yourself apart from almost every buyer the realtor has ever met.

Don’t know where to start to get pre-approved – some very quick points;

1. If you have a favourite bank, make a call and ask for their MOBILE mortgage specialist.
2. Call a mortgage broker – the advantage here is they only do one credit check and then shop around for you! You can get a couple of names just from REALTORS® websites – good ones have a dedicated page of referrals for professionals they know and trust.
3. Don’t go to more than 2 banks and one broker – it will start to affect your credit score!

Just another piece of advice so you can REST easy and know we’ve got you covered. As always – we are happy to answer any and all questions you may have on this, or any other topic – we are only an email or phone call away!

For more information you can;

Listen to our podcast – https://bgmteam.podbean.com

Watch us on YouTube – https://www.youtube.com/user/myottawateam

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Hey Everyone and welcome to our  series we are producing around the career that we love… real estate.

This is going to be your source for some real estate straight talk – the real deal, real scenarios, myths and myth busting, the rules, the ethics, the process, the expectations – what you really need to know. So here we go!

What type of REALTOR® are you?

This is a really important question to ask any real estate professional. The industry supports all kinds of business models and we support that, but it can be important for you to ask the question.

Today, we are going to have some straight talk about the differences you might experience when working with a full vs. a part time REALTOR®.

A full-time REALTOR® – well, that’s pretty self-explanatory – this is their only job. It is the primary way they earn their income.

A part-time REALTOR® can be many things – someone dipping a toe into the real estate world to see if they like it, someone who would like to supplement their income, someone that just wants to be able to service a small number of people a year.

Before you choose someone to help with your next real estate transaction, consider these pros and cons of working with either a part-time OR a full-time real estate salesperson.

Pro: A good REALTOR® is a good REALTOR®. As in any other profession, there are good, just “OK”, and bad REALTORS® regardless of the number of hours per week they work. What matters is the individual’s knowledge of the market, industry savvy and willingness to advocate for his or her client.

Different REALTORS® have different goals. A part-time REALTOR® can work with fewer clients and at the same time and still give those fewer clients a high level of service. A full time REALTOR® can want to get to a certain financial goal and then enjoy long term vacations.

Some full-time and part time REALTORS® work in teams, where there are people to help you at any given time, no matter what.

It is really important for you to sit with several REALTORS® and ask this question to see if they way they do business is going to be the right fit for you!

Con: Missed opportunities, limited availability and missed nuances in negotiations. There are many days when timing is of the essence, and if your REALTOR® isn’t free to get you into that listing in a hot market, it may pass you by. And limited time working in the real estate market can mean limited experience, which can lead to unintended consequences and experiences.

So what is the Straight talk here? – Mostly, the pros and cons can apply to both full AND part time REALTORS®. You don’t know if you are going to get this,

Credit – Ferris Bueler’s Day Off

or this…

It’s important to meet with more than one to get a feel for how they work, when they work and how hard they will work for you. And don’t be afraid to google them and see if they have reviews, or social media where you can get a sense of who they are.

Find the one that fits with YOU so you can REST easy.

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Hey Everyone and welcome to our very first in a series we are producing around the career that we love… real estate.

This is going to be your source for some real straight talk – the real deal, real scenarios, myths and myth busting, the rules, the ethics, the process, the expectations – what should you really expect when you jump into the proverbial real estate waters?

It can feel like you are thrown into the deep end – no water wings – no floaty, no flutter boards, no paddle… just you – up the river and moving fast.

Jeff, Christine and I have been in this business 15, 22 and 19 years respectively – and we’ve decided its high time to get all of you in the loop.

We are always amazed when we hear people have had bad experiences, or come to us with the classic stereotype that we’re pushy used car salesmen, (noooo offense to all you folks that sell cars) and only in it for the money….

So, we thought we would take all our experiences, all our knowledge and start to break it down for you – to give you a baseline – What’s good, what’s bad, and what’s downright ugly.

That way – when you are jumping into this real estate pool – you ARE the lifeguard and the only shock you will get is if the water is freezing!!

Stay tuned – we will be releasing small bite sized pieces in formats of your choice – blog, podcast or video – for you every few weeks and you will be able to find them through any of the links below – our website, our Facebook page, our YouTube channel and our Google business page. To get them right away – head to our YouTube channel and subscribe –  and don’t forget to hit the bell to get notified right away when we post something!

Until then REST easy – we are going to have you covered!

Real Estate Straight Talk

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Another Miracle Home for Sale

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