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Turning Big Profit

April 25th, 2012

How much would you pay for this home in Willowdale Toronto, Ontario??


How about close to $1.2 million?? A whopping $421,800 over asking price!! If your jaw just dropped, that seems about the likely response, but if not, then maybe you’re in the know! Land value out values the house itself by far…as you can see. While this lovely and quaint bungalow can have every buzz word attached to it, there’s no way anyone would take a seller seriously if it was priced at $1.2 to begin, so here’s how it’s done.

Toronto real estate agent and blogger, David Flemming, says there are five steps to follow to make a good profit when selling your home. First and foremost, underprice! This may seem counter intuitive but David says it’s a ‘time tested technique that has proven to ‘bring in more money’.

Here’s the rest of the list:

Timing

While the condo market is fairly steady throughout the year, you should aim to list while the competition is not out in full force. On the other hand, the housing market is very cyclical.

Planning to sell in March because spring is on its way and buyers are thinking of change? What about March break? That takes people out of town or making arrangements for children that are out of school. Think about when people will be staying put at home without any big events or holidays coming up and that is when you should be selling.

The market ‘explodes’ right after Labour Day and lasts until mid-December. Choose wisely!

Pricing

Pricing right, as previously stated, without going overboard in either direction, will tend to bring in more than the asking. David says that people love bidding wars so go ahead and slightly under-price the property. For example, $550,000 house priced at $499,000 with a set ‘offer date’ will bring a set of buyers who would have had a cap of $500,000 that would otherwise not see the house. By virtue of buyers liking bidding wars, offers will come in for up to possibly $591,000.

Staging

There lack of information out right now about staging! It could be about how to Feng Shui your house to be more inviting to potential buyers or how to de-clutter your home. It is so imperative in selling a home to have prospective buyers walk in and feel as though they can live in the space. This is difficult for many people because often times home stagers and agents will recommend removing family photos, ‘unique’ pieces of furniture and prized possessions from view, but it is crucial. Spending some money on your own for staging or investing in a professional is going to pay off in the long run without doubt.

Marketing

In today’s world there is so much technology available that has entered into virtually every aspect of the market and real estate is not excluded! From telephone apps, virtual tours, 3D renderings and listings available on the web as well as TV, the For Sale sign is no longer enough. David’s advises:

You need a professional photographer, not photos taken on your Blackberry.
You need a virtual tour with dozens of photos — not just the nine you get on MLS. You need an open house from 1 – 5 pm on Saturday and Sunday, not 2 – 4 pm on one day. The lady walking her dog on a Sunday afternoon who pops into the open house at 4:30 pm might be a buyer and she didn’t even know it!
You need a Thursday night open house with “wine and cheese.”
You need to send “Just Listed” cards to every house/condo in the neighbourhood and try to solicit the renters and people looking to upsize.
You need to call the neighbours on the street and invite them to the open house.
You also need to use Twitter and Facebook to your advantage.
Be proactive and address issues before they arise

Check out David’s interview on CTV:

Realtor Quest 2012

April 24th, 2012


Join us at REALTOR® QUEST, Canada’s largest REALTOR® Trade Show and Conference. Taking place on May 2 and 3, 2012 and in its 8th year, there will be plenty of news and festivities brought to you by hundreds of exhibitors where over 8000 Realtors will gather for the latest int the business.

The Real Estate Channel’s three esteemed colleagues will be in attendance at booth #809 both days of the exhibition to answer all your questions and introduce you to what we can do for you here at the Real Estate Channel. So be sure to stop by and learn about how to increase your visibility in the market!

To learn more about this event: Realtor Quest

April 2012 Real Estate Minute

April 17th, 2012

Check out the latest Real Estate news in your city and across Canada with Alison Riley on The Real Estate Minute. With so much talk about rising home sales prices in major Canadian cities and mortgage rate fluctuations, Alison takes us through five major regions exploring the rises and falls in home sales and what’s predicted for this spring season.

Looking Back

April 5th, 2012

We’re going back in time briefly to look at just how far we’ve come here at the Real Estate Channel. Since we began our goal of redefining real estate advertising by bringing listings to television screens in Canada, we went from a small, shared office at a local cable company to Rogers, the largest network in Canada, and from a couple hundred clients to thousands of clients posting to web and television daily. Every property video on the Real Estate Channel is also syndicated to multiple media platforms such as Youtube, Youku (Chinese language site), Twitter, Facebook, to name a few, with more to come!

Our determination towards excellence in service and innovation has been the driving force that has gotten us here. With a fresh approach and resolution to stay current we will continue to maintain and enhance the calibre of videos and service we provide as well as expand our regional outreach and partnerships with large networks to set the bar in the industry.

South Bound

March 19th, 2012

With a strong Canadian dollar that has kept its value amidst the recession that hit our American neighbours, many Canadians are headed south of the border to invest in properties that have been priced well below cost and take advantage of the economic downturn in the U.S.

It seems easy enough, find a property in a warmer climate that you can turn into a vacation home and/or income property, but David Kauffman, president of Westcourt Capital Corp., is advising Canadians to do their homework before handing over their hard earned dollars.

Kaufman recommends that if the plan is to ‘buy-rent-sell’ then four important things need to be taken into consideration:

First, passive real estate investing is not an option. In purchasing a property, you should look for the right neighbourhood. If you can enlist the help of a local that can attest to the quality of the area, do communicate with them. Since the ‘buy-rent-sell’ plan requires that you rent out the property while the value of the home appreciates, acquiring professional property management services will reduce the possibility of any problems that might arise.

Second, accessing financing in the U.S. as a non-citizen may be more challenging than you might be aware of. Kauffman says that ‘if your model requires leverage, it probably won’t work.’ While mortgages are cheaper, you may not qualify when working with an American lender, which in turn would require you to make the purchase in full and that will significantly lower your long-term returns.

Kaufman’s third point is about the three letter word that no one really likes, TAX. While seasoned investors may know the ins and outs of investing down south, novices be ware! By buying and renting out an income property, there is a good likelihood that you will be hit with various U.S. taxes. Not only is filing U.S. taxes a hassle but you may encounter complications with your estate that are unforeseeable such as injury or death.

Finally, diversify! Since there are many unknowns with one piece of rental property one variable may lead to lower returns than you anticipated. Working with professionals that have studied and worked in Canadian-based investment funds may make more financial sense for you in reaching your mid to long term goals.

Not to be cliche, but you reap what you sow, such is the same in real estate investment! Doing your due diligence prior to signing a cheque will be your best defence against making an unhealthy financial decision.

With notes from The Financial Post

14 Year Old Landlord

March 16th, 2012

Before you read any further, finish this sentence: ‘my biggest accomplishment at 14 years of age was___’. We’re going to wager you didn’t end that with ‘becoming a landlord of a house I owned half of outright’, but a young girl of Southwest Florida is earning bragging rights as both part landlord and part homeowner! While most of us that are well past the teen years still contemplate when we’ll be able to stop renting and start owning, Willow Tufano is already on her way as an enterprising realtor, proving that age is just a number.

Seeing how many foreclosed homes sat empty and slowly becoming dilapidated in her neighbourhood, Willow Tufano jumped at the chance to own a house for sale with a price tag of a ‘whopping’ $12,000 that according to Zillow was estimated to have cost about $85,000 in 2005. Willow began recycling, having garage sales, collecting items from abandoned homes, got on Craigslist and began to earn her revenue one item at a time. She then purchased the home with her mother, who owns half the property. And it didn’t stop there, the home had been run down and no where near move-in condition, so she went to work, cleaning, pulling laminate flooring and making deals with cleaning services to bring the home up to code. The current tenants pay Willow and her mother $700 in monthly rent, which Willow will be saving until she buys her mom out of the house when she turns 18. Rather incredible for a 14 year old.

Granted she lives in Florida, the state hardest hit by the recession which left its foreclosed homes abandoned and for sale at rock bottom prices, but on a grander scale it’s about how Ms. Tufano thought of how to bank on the situation rather than..be a traditional 14 year old. One might venture, simplified as it may be, that if young people were encouraged to begin thinking about how to save and invest as early as possible, without prejudice based on age, there would be far fewer young adults overburdened with debt who cannot see a way out of renting in the foreseeable future.

With notes from CNBC

Realtor Quest Conference And Trade Show

March 8th, 2012

The last few months have been extremely busy for us here at The Real Estate Channel! From welcoming hundreds of new clients to working on exciting new plans to be revealed in the near future! This coming May 2nd & 3rd we are going to Canada’s largest Realtor Trade Show “The Realtor Quest Conference And Trade Show“. Taking place at the Toronto Congress Centre, this conference and trade show will be taking up a lot of space for the two days, expecting up to 250 exhibitors and 8000 realtors. If you are planning to attend, make sure you stop by The Real Estate Channel booth, to put a face to the names and voices behind all the videos and check out the newest in Real Estate advertising to set yourself apart!

Hoop Dreams

March 1st, 2012

After seeing these pictures you may just want to allow your children to pursue professional sports careers! This home, selling for a mere $29 Million, was custom designed and renovated for the one and only basket ball hero and legend – Michael Jordan. Every space in this ‘quaint’ home has his stamp of approval on it, right down to the gates, which proudly don his Chicago Bulls jersey number: 23. This basketball lover’s home went on the market February 29, 2012 – any guesses on who might decide to be the next resident?








Season’s Greetings

December 22nd, 2011


We’d like to wish you all a Happy Holiday Season.


May 2012 be full of opportunity and success for you and yours.


From all of us here at The Real Estate Channel


Merry Christmas


Happy Holidays


Happy New Year

Holiday Hours:

Our Offices will be closed:
December 23, 2011 at 12:00pm to December 27, 2011
December 30 2011 to January 2 2012.
We will be here to assist you during our regular office hours December 27th-December 29th 9:am-5:00pm Pacific

Check Out Our New Look!

December 19th, 2011

The Real Estate Channel is very happy to announce the official launch of its new website! It’s now brighter and fresher.


Since we understand that house hunting can be arduous, and at times stressful, we’ve also added a video blog to provide you with pertinent information as well as some entertainment to help you smile along the way. After all, house hunting should be enjoyable!


It is exactly for that reason that we’ve made RealEstateChannel.ca a place you can come in, click around, get informed and get in touch. You can even start discussions using the Disqus function beneath the videos where you can engage with other viewers and provide your input or pose questions you might be wondering about.

We hope you enjoy your experience on The Real Estate Channel.

FOR MORE INFORMATION:

Real Estate Channel
Head Office: 877-843-3218
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