According to statistics released by The Canadian Real Estate Association, existing home sales activity remained upbeat in November 2009. The current strength of housing demand stands in sharp contrast to weak activity recorded one year ago.
A total of 36,383 residential properties traded hands via the Multiple Listing Service® (MLS®) of Canadian real estate boards in November 2009. Up 73 per cent from year-ago levels, activity was down just four tenths of a per cent from the highest level of activity for the month posted in November 2007. Home sales set new records for the month of November in Ontario and Quebec.
“National home sales activity last month shows how strongly the housing market has rebounded since the beginning of the year,’ said CREA President Dale Ripplinger. “As we predicted last April, the rebound in resale housing activity led the overall Canadian economy out of recession.”
The unprecedented year-over-year gain in activity underscores the extent to which demand has recovered from one year ago, when news of the global financial crisis hammered consumer confidence. Year-over-year gains were biggest in British Columbia (165 per cent) and Ontario (77 per cent).
Since the beginning of 2009, some 437,507 homes have been sold through Canadian MLS® Systems. This is up five per cent from activity in the first 11 months of 2008, but below levels for the period in each of the previous three years.
The national residential average price was $337,231 in November, a gain of 19 per cent compared to one year ago. For the year-to-date, the average price is up 4.4 per cent compared to the same period last year. The year-over-year increase in November continues to reflect the high degree to which the average was skewed downward last year by plummeting activity in Canada’s priciest markets, and then upward by rebounding activity. Average price in November edged back from the peak reached in October.
The price trend is similar but less dramatic for the national MLS® weighted average price, which compensates for changes in provincial sales activity by taking into account provincial proportions of privately owned housing stock. The weighted average price climbed 13 per cent on a year-over-year basis in November. This is a smaller increase compared to the year-over-year gain of 14 per cent recorded the previous month.
The residential average price in Canada’s major markets was up 20 per cent year-over-year to $368,665. As with the national counterpart, the price trend is similar but less dramatic for the major market weighted average price which rose 11 per cent from last November.
The return of strong demand and headline average price gains is beginning to draw more sellers back to the market. Seasonally adjusted new listings coming onto Boards’ MLS® Systems across Canada rose five per cent on a month-over-month basis in November to 69,110 units. This is the biggest monthly increase since January 2008.
Despite the uptick in new listings, the sharp rise in resale housing demand continues to draw down inventories. There were 183,710 homes listed for sale on Boards’ MLS® Systems in Canada at the end of November 2009. This is down 23 per cent from levels reported one year ago, and the seventh month in a row in which inventories have declined from year-ago levels.
Nationally, there were four months of inventory in November 2009 on a seasonally adjusted basis, the lowest level in more than two years. The actual (not seasonally adjusted) number of months of inventory in November 2009 stood at five months, up slightly from the previous month (4.6 months). An increase is normal at this time of year, since demand tends to ease relative to supply over autumn and winter months. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
“The latest batch of seasonally adjusted statistics may reflect distortions in the seasonal adjustment procedure due to an extraordinarily weak housing market one year ago,” said CREA Chief Economist Gregory Klump. “Deteriorating housing affordability will reign in sales activity as the overall economy further improves and the pool of buyers who qualify for financing shrinks.”
http://www.crea.ca/public/news_stats/pdfs/Nov09_e.pdf
(CREA 11/15/09)
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Friends, followers, and connections are the way of the future.
CENTUM Core Financial Inc. Brokerage License #: 10642
Constantine Isslamow License#: M08005391
Saturday, December 19, 2009
Friday, December 18, 2009
November 2009 Inflation Rate
Canada's annual inflation rose 0.9 per cent in November up from 0.1 per cent in October. November is the second straight month increase, due mainly from higher gasoline prices.
The increase is the fastest rate in eight months. Gas prices were 14.1% higher in the month compared to November 2008.
Housing costs declined by 1.7% mainly from home heating costs and natural gas falling 29.7% and fuel oil and other fuels falling 10.6%
The Bank of Canada predicts inflation to hit 2% in the second half of 2011.
Source: Statistics Canada
www.statcan.gc.ca
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
CENTUM Core Financial Inc. Brokerage License #: 10642
Constantine Isslamow License#: M08005391
The increase is the fastest rate in eight months. Gas prices were 14.1% higher in the month compared to November 2008.
Housing costs declined by 1.7% mainly from home heating costs and natural gas falling 29.7% and fuel oil and other fuels falling 10.6%
The Bank of Canada predicts inflation to hit 2% in the second half of 2011.
Source: Statistics Canada
www.statcan.gc.ca
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
CENTUM Core Financial Inc. Brokerage License #: 10642
Constantine Isslamow License#: M08005391
Thursday, December 17, 2009
Peterborough Vacancy rate third-highest in Canada
Apartment vacancy in Peterborough is reported to be the 3rd highest in Canada according to CMHC release of vacancies in Canada.
The top five municipalities in Canada are:
Windsor 13%
Abbotsford, B.C. 6.1%
Peterborough 6%
Calgary 5.3%
London 5%
In the Peterborough market, we have seen all year the introduction of first time home buyers controlling the market place. With record low interest rates, it’s no wonder vacancies are on the rise.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
The top five municipalities in Canada are:
Windsor 13%
Abbotsford, B.C. 6.1%
Peterborough 6%
Calgary 5.3%
London 5%
In the Peterborough market, we have seen all year the introduction of first time home buyers controlling the market place. With record low interest rates, it’s no wonder vacancies are on the rise.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
Friday, December 11, 2009
Hightlight from the 2009 NAR Profile of Home Buyers and Sellers
Characteristics of Home Buyers
• Forty-seven percent of recent home buyers were first-time buyers.
• The typical first-time home buyer was 30 years old, while the typical repeat buyer was 48 years old.
• The 2008 median household income of buyers was $73,100. The median income was $61,600 among first-time buyers and $88,100 among repeat buyers.
• Twenty-one percent of recent home buyers were single females, and 10 percent were single males.
• For one-third of recent home buyers, the primary reason for the recent home purchase was a desire to own a home.
Characteristics of Homes Purchased
• New home purchases were at the lowest level in eight years—down to 18 percent of all recent home purchases.
• The typical home purchased was 1,800 square feet in size and was built in 1991.
• Seventy-eight percent of home buyers purchased a detached single family home.
• The median price of home purchased was $210,000 in the Northeast, $158,000 in the Midwest, $175,000 in the South, and $240,000 in the West.
• When considering the purchase of a home, commuting costs were considered very or somewhat important by 78 percent of buyers.
The Home Search Process
• For more than one-third of home buyers, the first step in the home-buying process was looking online for properties.
• Nine in ten home buyers and 94 used the Internet to search for homes.
• Real estate agents were viewed as a very useful information source by 81 percent of buyers who used an agent while searching for a home.
• The typical home buyer searched for 12 weeks and viewed 12 homes.
Home Buying and Real Estate Professionals
• Seventy-seven percent of buyers purchased their home through a real estate agent or broker.
• Ten percent of buyers purchased a home in foreclosure, up from 3 percent in 2008.
• Forty-four percent of buyers found their agent through a referral from a friend or family member.
Financing the Home Purchase
• Ninety-two percent of home buyers financed their recent home purchase.
• The percentage of first-time buyers who financed 100 percent of the purchase price with a mortgage dropped to 15 percent from 23 percent last year.
• Nearly half (47 percent) of home buyers reported they have made some sacrifices such as reducing spending on luxury items, entertainment or clothing.
• One-fifth of first-time buyers reported their mortgage application and approval process was somewhat more difficult than they expected, and one-in-ten reported it was much more difficult than expected.
Home Sellers and Their Selling Experience
• About half of home sellers traded up to a larger size and higher priced home and slightly more than one-fifth traded down to a smaller and less expensive home.
• Eighty-five percent of sellers were assisted by a real estate agent when selling their home.
• Recent sellers typically sold their homes for 95 percent of the listing price, and 60 percent reported they reduced the asking price at least once.
• Forty-two percent of sellers offered incentives to attract buyers, most often assistance with home warranty policies and closing costs.
Home Selling and Real Estate Professionals
• Forty percent of sellers who used a real estate agent found their agents through a referral by friends or family, and 26 percent used the agent they worked with previously to buy or sell a home.
• Ninety percent of sellers reported that their home was listed or advertised on the Internet.
• Among recent sellers who used an agent, 81 percent reported they would definitely (59 percent) or probably (22 percent) use that real estate agent again or recommend to others.
For-Sale-by-Owner (FSBO) Sellers
• The share of home sellers who sold their home without the assistance of a real estate agent was 11 percent. About half of them, 45 percent, knew the buyer prior to home purchase.
• The primary reason that sellers choose to sell their home without the assistance of a real estate agent to a buyer they did not know was that they did not want to pay a fee or commission (49 percent).
• Nearly one-third of FSBO sellers took no action to market their home, and 57 percent did not offer any incentives to attract buyers.
• Eighteen percent of FSBO sellers reported preparing or fixing up the home for sale was their most difficult task, while 15 percent reported getting the price right and an additional 15 percent reported understanding and performing paperwork was the hardest part of selling their home.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
• Forty-seven percent of recent home buyers were first-time buyers.
• The typical first-time home buyer was 30 years old, while the typical repeat buyer was 48 years old.
• The 2008 median household income of buyers was $73,100. The median income was $61,600 among first-time buyers and $88,100 among repeat buyers.
• Twenty-one percent of recent home buyers were single females, and 10 percent were single males.
• For one-third of recent home buyers, the primary reason for the recent home purchase was a desire to own a home.
Characteristics of Homes Purchased
• New home purchases were at the lowest level in eight years—down to 18 percent of all recent home purchases.
• The typical home purchased was 1,800 square feet in size and was built in 1991.
• Seventy-eight percent of home buyers purchased a detached single family home.
• The median price of home purchased was $210,000 in the Northeast, $158,000 in the Midwest, $175,000 in the South, and $240,000 in the West.
• When considering the purchase of a home, commuting costs were considered very or somewhat important by 78 percent of buyers.
The Home Search Process
• For more than one-third of home buyers, the first step in the home-buying process was looking online for properties.
• Nine in ten home buyers and 94 used the Internet to search for homes.
• Real estate agents were viewed as a very useful information source by 81 percent of buyers who used an agent while searching for a home.
• The typical home buyer searched for 12 weeks and viewed 12 homes.
Home Buying and Real Estate Professionals
• Seventy-seven percent of buyers purchased their home through a real estate agent or broker.
• Ten percent of buyers purchased a home in foreclosure, up from 3 percent in 2008.
• Forty-four percent of buyers found their agent through a referral from a friend or family member.
Financing the Home Purchase
• Ninety-two percent of home buyers financed their recent home purchase.
• The percentage of first-time buyers who financed 100 percent of the purchase price with a mortgage dropped to 15 percent from 23 percent last year.
• Nearly half (47 percent) of home buyers reported they have made some sacrifices such as reducing spending on luxury items, entertainment or clothing.
• One-fifth of first-time buyers reported their mortgage application and approval process was somewhat more difficult than they expected, and one-in-ten reported it was much more difficult than expected.
Home Sellers and Their Selling Experience
• About half of home sellers traded up to a larger size and higher priced home and slightly more than one-fifth traded down to a smaller and less expensive home.
• Eighty-five percent of sellers were assisted by a real estate agent when selling their home.
• Recent sellers typically sold their homes for 95 percent of the listing price, and 60 percent reported they reduced the asking price at least once.
• Forty-two percent of sellers offered incentives to attract buyers, most often assistance with home warranty policies and closing costs.
Home Selling and Real Estate Professionals
• Forty percent of sellers who used a real estate agent found their agents through a referral by friends or family, and 26 percent used the agent they worked with previously to buy or sell a home.
• Ninety percent of sellers reported that their home was listed or advertised on the Internet.
• Among recent sellers who used an agent, 81 percent reported they would definitely (59 percent) or probably (22 percent) use that real estate agent again or recommend to others.
For-Sale-by-Owner (FSBO) Sellers
• The share of home sellers who sold their home without the assistance of a real estate agent was 11 percent. About half of them, 45 percent, knew the buyer prior to home purchase.
• The primary reason that sellers choose to sell their home without the assistance of a real estate agent to a buyer they did not know was that they did not want to pay a fee or commission (49 percent).
• Nearly one-third of FSBO sellers took no action to market their home, and 57 percent did not offer any incentives to attract buyers.
• Eighteen percent of FSBO sellers reported preparing or fixing up the home for sale was their most difficult task, while 15 percent reported getting the price right and an additional 15 percent reported understanding and performing paperwork was the hardest part of selling their home.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
Thursday, December 10, 2009
Should you switch to Windows® 7?
According to the most recent REALTOR®.org Technology Report1, 63% of real estate professionals surveyed are still using Windows® XP and 31% are using Vista. That translates into a large number of potential users who are faced with the question, should I switch over to Windows® 7? We'll give you the facts and let you decide.
What the reviewers are saying
It's often what the technology critics say that give us the insights to make our buying decisions. If you're considering making the switch, many of the reviewers are certainly in favour of persuading you to do just that. Read their comments:
1. "After using pre-release versions of Windows® 7 for nine months, and intensively testing the final version for the past month on many different machines, I believe it is the best version of Windows Microsoft (MSFT) has produced. It's a boost to productivity and a pleasure to use." —Walt Mossberg, Wall Street Journal (10/7/09)
2. "…Windows® 7 is more than just spin. It's stable, smooth, and highly polished, introducing new graphical features, a new taskbar that can compete handily with the Mac OS X dock, and device management and security enhancements that make it both easier to use and safer." —Seth Rosenblatt, CNET editor's review (7/31/09)
3. "Windows® 7 is… —a solid OS with plenty of modern eye candy that mostly succeeds in taking Windows usability into the 21st century….Upgrade without trepidation, people. With excitement, even." —Matt Buchanan, Gizmodo (8/5/09)
What you can expect once you switch
Windows® 7 Professional and a new HP Business Desktop or Notebook PC gives you the power to:
• Boost your efficiency: A new HP PC with Windows® 7 Professional can run up to 330% faster than your old computer while using up to 55% less energy2.
• Work faster: Check your e-mail, calendar or contacts without booting up your notebook PC using HP QuickLook 33.
• Work longer: Enjoy improved battery life. Power management is built into Windows® 7.
• Save time: Start your PC quickly with speedy start-up, shutdown, sleep and resume from standby.
• Work from virtually anywhere: HP laptops work anywhere you have cell phone service with Gobi Global mobile connectivity4.
• Get more protection:
- Windows Defender helps protect you from spyware and malicious software.
- HP 3D DriveGuard protects your hard drive, and the information on it, from drops and shakes.
- HP File & Disk Sanitizer5 enables you to completely remove confidential files after you no longer need them.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
What the reviewers are saying
It's often what the technology critics say that give us the insights to make our buying decisions. If you're considering making the switch, many of the reviewers are certainly in favour of persuading you to do just that. Read their comments:
1. "After using pre-release versions of Windows® 7 for nine months, and intensively testing the final version for the past month on many different machines, I believe it is the best version of Windows Microsoft (MSFT) has produced. It's a boost to productivity and a pleasure to use." —Walt Mossberg, Wall Street Journal (10/7/09)
2. "…Windows® 7 is more than just spin. It's stable, smooth, and highly polished, introducing new graphical features, a new taskbar that can compete handily with the Mac OS X dock, and device management and security enhancements that make it both easier to use and safer." —Seth Rosenblatt, CNET editor's review (7/31/09)
3. "Windows® 7 is… —a solid OS with plenty of modern eye candy that mostly succeeds in taking Windows usability into the 21st century….Upgrade without trepidation, people. With excitement, even." —Matt Buchanan, Gizmodo (8/5/09)
What you can expect once you switch
Windows® 7 Professional and a new HP Business Desktop or Notebook PC gives you the power to:
• Boost your efficiency: A new HP PC with Windows® 7 Professional can run up to 330% faster than your old computer while using up to 55% less energy2.
• Work faster: Check your e-mail, calendar or contacts without booting up your notebook PC using HP QuickLook 33.
• Work longer: Enjoy improved battery life. Power management is built into Windows® 7.
• Save time: Start your PC quickly with speedy start-up, shutdown, sleep and resume from standby.
• Work from virtually anywhere: HP laptops work anywhere you have cell phone service with Gobi Global mobile connectivity4.
• Get more protection:
- Windows Defender helps protect you from spyware and malicious software.
- HP 3D DriveGuard protects your hard drive, and the information on it, from drops and shakes.
- HP File & Disk Sanitizer5 enables you to completely remove confidential files after you no longer need them.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
Wednesday, December 9, 2009
No Change to Rates at Bank of Canada’s Meeting
The Bank of Canada left its key lending rate at 0.25%…as pretty much the whole world expected.
Not much changed from the Bank of Canada’s last announcement in October. In its statement today it said:
• “The target overnight rate can be expected to remain at its current level until the end of the second quarter of 2010.”
• “While significant fragilities remain, global economic developments have been slightly more positive and the global outlook has improved modestly…”
• “The Bank continues to expect…inflation to return to the 2% target in the second half of 2011.”
• “The overall risks to (the Bank of Canada’s) inflation projection are tilted slightly to the downside.”
The Bank of Canada’s main focus, of course, is controlling inflation. There has been nowhere near enough strong economic news for it to consider raising rates—nor do economists expect any for a while to come.
The next Bank of Canada’s interest rate meeting is January 19, 2010.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
Not much changed from the Bank of Canada’s last announcement in October. In its statement today it said:
• “The target overnight rate can be expected to remain at its current level until the end of the second quarter of 2010.”
• “While significant fragilities remain, global economic developments have been slightly more positive and the global outlook has improved modestly…”
• “The Bank continues to expect…inflation to return to the 2% target in the second half of 2011.”
• “The overall risks to (the Bank of Canada’s) inflation projection are tilted slightly to the downside.”
The Bank of Canada’s main focus, of course, is controlling inflation. There has been nowhere near enough strong economic news for it to consider raising rates—nor do economists expect any for a while to come.
The next Bank of Canada’s interest rate meeting is January 19, 2010.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
Self-Employed? You Can Get a Mortgage
You will need to present the following documents to a banker or other lender for the application of your new mortgage:
Self-Employed
• 2 years of Notice of Assessments
• 2 years of T1 general tax return forms
• 2 years' proof of business (your GST number and article of incorporation)
Employed
• Written employment letter from Human Resources stating salary or hour wage /minimum hourly work week/position /start date - if less than 3 months (letter stating you are not on probation)
• Current pay stub
• 2 years of T4 statements if you would like to use overtime earnings
Have these documents ready when you meet with your mortgage specialist and things will move swiftly for you.
Shopping it Around with a Mortgage Broker
When a young woman goes shopping, she doesn't mess around; finding the best deal is worth taking the time and doing it right, and that may include using a professional shopper.
Apparently, shopping for a house mortgage is not much different for Canadian 20 and 30-something women; they are the demographic most likely to use a professional mortgage broker, according to the 2009 Mortgage Consumer Survey [pdf] conducted by Canada Mortgage and Housing Corporation (CMHC).
The survey found that 25 to 34-year old Canadians make up 42% of consumers who use an accredited mortgage professional, while female purchasers make up 43%.
The Accredited Mortgage Professional (AMP) is the only national proficiency standard for Canada’s mortgage industry. Launched in 2004, the AMP designation was developed as part of CAAMP’s ongoing commitment to increasing the level of professionalism in Canada’s mortgage industry.
Raising public awareness and increasing the value of the designation is a high priority for CAAMP.
First-time home buyers are also much more likely to use a mortgage broker than the general public, and that number is on the rise, sharply - from 35% in 2007 to 44% this year who favour brokers.
Loyalty to lenders (e.g. traditional banks) is down significantly among first-time buyers - from 65% in 2007 to 47% loyalty this year.
1/4 of All Mortgages Involved Broker
The CMHC survey shows that from June 2008 to June 2009, one quarter of all mortgage transactions were arranged through mortgage brokers. Aside from the first-time buyers, young and female demographics discussed, the use of mortgage brokers remains stable amongst other Canadians.
Working with a mortgage broker may make the most sense for first-time buyers, to help sort out the complicated formulas required and to minimize damage to one's credit score.
Reasons to use a mortgage broker include:
• Independent, unbiased advice; as a freelancer, the broker won't favour one bank or credit union over another based on anything except rates
• Access to as many as 40 government and CMHC-approved lenders
• Negotiates rates with lenders directly, on your behalf
• You pay no fee (the broker charges the lender)
• The broker educates you on all your options including: open, closed, high ratio, first, second, conventional, CMHC-insured, HELOC, VTB mortgages, prepayment privileges and penalties, reverse mortgages, private loans, and more.
Financial Privacy Issues
However, be wary when sharing your personal financial information; make sure that your mortgage broker has been accredited by a body like the Canadian Association of Accredited Mortgage Professionals and complies with provincial laws requiring education, training and licensing standards. Like in any industry, malpractice by a few brokers has resulted in mortgage fraud (a form of identity theft).
You should check and see if your mortgage broker is licensed and in good standing with your provincial regulator:
• FICOM in BC
• RECA in Alberta
• SFSC in Saskatchewan
• FSCO in Ontario
• ACAIQ in Quebec
• Service NS in Nova Scotia
Have you used a mortgage broker or know someone who has? Share your stories, or questions, below.
Your Mortgage Application Should Resemble a Great Resume
Do you just walk into the bank, sit down and let them make the application on your behalf?
If you answered 'yes' to this question, then you need help!
Think of it this way...
Would you walk into a job interview empty-handed, with no specific information to leave behind with the potential employer about your strengths as a candidate?
Would you hand over a messy resume with all kinds of missing information?
No, of course you wouldn't - not if you wanted that job!
So, if you want a house, why would you treat your written mortgage application process any differently than your polished, well-documented resume or job application form?
The Ideal Structure
The best way to take advantage of the lowest rates in history is to structure your mortgage application so it's the most appealing it can be before you submit it to a lender.
To assess what goes into the ideal mortgage application; ask yourself:
• What income can I use, and not use?
• What do the banks think of a part-time job?
• What does my credit score need to be in order to get the best rates?
• How much of my consumer debt should I pay down first?
• Should I put a consolidation loan in place?
• How can I best boost my credit score?
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
Self-Employed
• 2 years of Notice of Assessments
• 2 years of T1 general tax return forms
• 2 years' proof of business (your GST number and article of incorporation)
Employed
• Written employment letter from Human Resources stating salary or hour wage /minimum hourly work week/position /start date - if less than 3 months (letter stating you are not on probation)
• Current pay stub
• 2 years of T4 statements if you would like to use overtime earnings
Have these documents ready when you meet with your mortgage specialist and things will move swiftly for you.
Shopping it Around with a Mortgage Broker
When a young woman goes shopping, she doesn't mess around; finding the best deal is worth taking the time and doing it right, and that may include using a professional shopper.
Apparently, shopping for a house mortgage is not much different for Canadian 20 and 30-something women; they are the demographic most likely to use a professional mortgage broker, according to the 2009 Mortgage Consumer Survey [pdf] conducted by Canada Mortgage and Housing Corporation (CMHC).
The survey found that 25 to 34-year old Canadians make up 42% of consumers who use an accredited mortgage professional, while female purchasers make up 43%.
The Accredited Mortgage Professional (AMP) is the only national proficiency standard for Canada’s mortgage industry. Launched in 2004, the AMP designation was developed as part of CAAMP’s ongoing commitment to increasing the level of professionalism in Canada’s mortgage industry.
Raising public awareness and increasing the value of the designation is a high priority for CAAMP.
First-time home buyers are also much more likely to use a mortgage broker than the general public, and that number is on the rise, sharply - from 35% in 2007 to 44% this year who favour brokers.
Loyalty to lenders (e.g. traditional banks) is down significantly among first-time buyers - from 65% in 2007 to 47% loyalty this year.
1/4 of All Mortgages Involved Broker
The CMHC survey shows that from June 2008 to June 2009, one quarter of all mortgage transactions were arranged through mortgage brokers. Aside from the first-time buyers, young and female demographics discussed, the use of mortgage brokers remains stable amongst other Canadians.
Working with a mortgage broker may make the most sense for first-time buyers, to help sort out the complicated formulas required and to minimize damage to one's credit score.
Reasons to use a mortgage broker include:
• Independent, unbiased advice; as a freelancer, the broker won't favour one bank or credit union over another based on anything except rates
• Access to as many as 40 government and CMHC-approved lenders
• Negotiates rates with lenders directly, on your behalf
• You pay no fee (the broker charges the lender)
• The broker educates you on all your options including: open, closed, high ratio, first, second, conventional, CMHC-insured, HELOC, VTB mortgages, prepayment privileges and penalties, reverse mortgages, private loans, and more.
Financial Privacy Issues
However, be wary when sharing your personal financial information; make sure that your mortgage broker has been accredited by a body like the Canadian Association of Accredited Mortgage Professionals and complies with provincial laws requiring education, training and licensing standards. Like in any industry, malpractice by a few brokers has resulted in mortgage fraud (a form of identity theft).
You should check and see if your mortgage broker is licensed and in good standing with your provincial regulator:
• FICOM in BC
• RECA in Alberta
• SFSC in Saskatchewan
• FSCO in Ontario
• ACAIQ in Quebec
• Service NS in Nova Scotia
Have you used a mortgage broker or know someone who has? Share your stories, or questions, below.
Your Mortgage Application Should Resemble a Great Resume
Do you just walk into the bank, sit down and let them make the application on your behalf?
If you answered 'yes' to this question, then you need help!
Think of it this way...
Would you walk into a job interview empty-handed, with no specific information to leave behind with the potential employer about your strengths as a candidate?
Would you hand over a messy resume with all kinds of missing information?
No, of course you wouldn't - not if you wanted that job!
So, if you want a house, why would you treat your written mortgage application process any differently than your polished, well-documented resume or job application form?
The Ideal Structure
The best way to take advantage of the lowest rates in history is to structure your mortgage application so it's the most appealing it can be before you submit it to a lender.
To assess what goes into the ideal mortgage application; ask yourself:
• What income can I use, and not use?
• What do the banks think of a part-time job?
• What does my credit score need to be in order to get the best rates?
• How much of my consumer debt should I pay down first?
• Should I put a consolidation loan in place?
• How can I best boost my credit score?
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
Tuesday, December 8, 2009
Housing starts hit 2009 high
Housing starts hit their highest level this year in November, more proof that Canada's real-estate market has clawed out of recession.
Starts rose slightly to 158,500 units, on a seasonally adjusted basis, up from 157,400 in October as single-home construction outweighed a drop in multiple home activity, Canada Mortgage and Housing Corp. said Tuesday.
“The improvement in housing starts continued in November,” said Bob Dugan, CMHC's chief economist.
The results were slightly less than the 165,000 starts economists had expected. Still, they're running at a much stronger level than in April, when they sunk to the 118,500 mark.
Record low interest rates are fuelling a rebound in Canada's real-estate market, spurring rising prices and a flurry of buying activity. The Bank of Canada will provide its current view of lending rates and the economy today at 9 a.m. Eastern time.
More builders have plans in the works, a report showed yesterday. Building permits jumped 18 per cent in October to the highest value in 13 months, Statistics Canada said yesterday.
Multiple starts eased in November, CMHC said, to 71,300 units from 72,500 units a month earlier. Single starts rose 3.4 per cent to 69,800 units.
The annual rate of urban starts has risen the most in Quebec, at 10 per cent, followed by Atlantic Canada.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
Starts rose slightly to 158,500 units, on a seasonally adjusted basis, up from 157,400 in October as single-home construction outweighed a drop in multiple home activity, Canada Mortgage and Housing Corp. said Tuesday.
“The improvement in housing starts continued in November,” said Bob Dugan, CMHC's chief economist.
The results were slightly less than the 165,000 starts economists had expected. Still, they're running at a much stronger level than in April, when they sunk to the 118,500 mark.
Record low interest rates are fuelling a rebound in Canada's real-estate market, spurring rising prices and a flurry of buying activity. The Bank of Canada will provide its current view of lending rates and the economy today at 9 a.m. Eastern time.
More builders have plans in the works, a report showed yesterday. Building permits jumped 18 per cent in October to the highest value in 13 months, Statistics Canada said yesterday.
Multiple starts eased in November, CMHC said, to 71,300 units from 72,500 units a month earlier. Single starts rose 3.4 per cent to 69,800 units.
The annual rate of urban starts has risen the most in Quebec, at 10 per cent, followed by Atlantic Canada.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
Monday, December 7, 2009
November 2009 Unemployment Rate
Employment rose by 79,000 in November, bringing the unemployment rate down 0.1 percentage points to 8.5%. Despite November's gain, employment was 321,000 (-1.9%) below the peak of October 2008.
Full-time employment increased by 39,000 in November, the third consecutive monthly increase. Part-time employment also rose in November (+40,000), following two months of declines.
November saw an increase in the number of private (+57,000) and public (+54,000) sector employees, while the number of self-employed workers declined (-32,000). In recent months, the number of employees in the public sector, as well as the number of self-employed, has trended up, while in the private sector, the trend has been relatively flat.
Most of the gain in overall employment in November was among women aged 25 to 54 (+51,000) and men aged 55 and over (+17,000).
Almost all the employment growth in November was attributable to the service sector (+73,000), especially educational services. With November's increase, employment in the service sector is back at its October 2008 level, while employment in the goods sector remained well below (-324,000) where it was at that time.
In November, employment growth was widespread across most provinces with the largest gains in Ontario, Quebec and Alberta.
Compared with a year ago, average hourly wages in November were up 2.3%, the lowest year-over-year growth since March 2007.
Employment gains in Ontario and Quebec
In Ontario, employment rose by 27,000 in November, the largest gain in the province since September 2008. The unemployment rate, at 9.3%, was unchanged in November. While employment in Ontario remains well below its October 2008 level (-179,000 or -2.7%), since May 2009, employment has edged up slightly.
In Quebec, employment grew by 21,000 in November, pushing the unemployment rate down 0.4 percentage points to 8.1%. During the economic downturn, employment has fallen in Quebec, albeit at a slower pace than the national average.
Employment in Alberta rose by 13,000 in November, the largest monthly increase in the province since October 2008. Since March 2009, employment in the province has edged down by 7,000 (-0.4%), a much smaller loss than the 48,000 (-2.4%) observed during the five months following the peak of October 2008.
In British Columbia, employment edged up in November. Since March 2009, employment has grown by 27,000 (+1.2%), in contrast to the downward trend observed during the first five months of the labour market downturn (-69,000 or -3.0%).
Employment also rose in Manitoba (+3,100), pushing the unemployment rate down 0.5 percentage points to 5.3%. Overall, Manitoba's employment has remained stable throughout the labour market downturn.
In Newfoundland and Labrador, employment increased by 2,700 in November. This caused the unemployment rate to fall 1.1 percentage points to 15.9%.
The unemployment rate represents the number of unemployed persons expressed as a percentage of the labour force. The unemployment rate for a particular age–sex group is the number unemployed in that group expressed as a percentage of the labour force for that group.
Both sexes, 15 years and over
Seasonally adjusted
%
YEAR JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
1999 7.9 7.9 7.9 8.2 8.0 7.6 7.6 7.5 7.4 7.2 6.9 6.8
2000 6.7 6.8 6.8 6.8 6.7 6.7 6.8 7.0 6.9 7.0 7.0 6.8
2001 6.9 7.0 7.1 7.1 7.0 7.1 7.1 7.2 7.2 7.4 7.6 8.0
2002 8.0 7.9 7.8 7.7 7.8 7.5 7.6 7.4 7.5 7.5 7.5 7.5
2003 7.4 7.4 7.3 7.6 7.9 7.7 7.7 7.8 7.9 7.6 7.5 7.3
2004 7.3 7.3 7.4 7.2 7.2 7.3 7.1 7.1 7.0 7.1 7.2 7.1
2005 6.9 7.0 6.9 6.8 6.9 6.9 6.7 6.7 6.7 6.7 6.3 6.5
2006 6.6 6.4 6.3 6.3 6.1 6.1 6.4 6.5 6.4 6.2 6.2 6.1
2007 6.2 6.1 6.1 6.1 6.0 6.0 6.0 6.0 5.9 5.9 5.9 5.9
2008 5.8 5.9 6.1 6.0 6.1 6.2 6.1 6.2 6.2 6.3 6.4 6.6
2009 7.2 7.7 8.0 8.0 8.4 8.6 8.6 8.7 8.4 8.6 8.5
Source: Statistics Canada
www.statcan.gc.ca
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
Full-time employment increased by 39,000 in November, the third consecutive monthly increase. Part-time employment also rose in November (+40,000), following two months of declines.
November saw an increase in the number of private (+57,000) and public (+54,000) sector employees, while the number of self-employed workers declined (-32,000). In recent months, the number of employees in the public sector, as well as the number of self-employed, has trended up, while in the private sector, the trend has been relatively flat.
Most of the gain in overall employment in November was among women aged 25 to 54 (+51,000) and men aged 55 and over (+17,000).
Almost all the employment growth in November was attributable to the service sector (+73,000), especially educational services. With November's increase, employment in the service sector is back at its October 2008 level, while employment in the goods sector remained well below (-324,000) where it was at that time.
In November, employment growth was widespread across most provinces with the largest gains in Ontario, Quebec and Alberta.
Compared with a year ago, average hourly wages in November were up 2.3%, the lowest year-over-year growth since March 2007.
Employment gains in Ontario and Quebec
In Ontario, employment rose by 27,000 in November, the largest gain in the province since September 2008. The unemployment rate, at 9.3%, was unchanged in November. While employment in Ontario remains well below its October 2008 level (-179,000 or -2.7%), since May 2009, employment has edged up slightly.
In Quebec, employment grew by 21,000 in November, pushing the unemployment rate down 0.4 percentage points to 8.1%. During the economic downturn, employment has fallen in Quebec, albeit at a slower pace than the national average.
Employment in Alberta rose by 13,000 in November, the largest monthly increase in the province since October 2008. Since March 2009, employment in the province has edged down by 7,000 (-0.4%), a much smaller loss than the 48,000 (-2.4%) observed during the five months following the peak of October 2008.
In British Columbia, employment edged up in November. Since March 2009, employment has grown by 27,000 (+1.2%), in contrast to the downward trend observed during the first five months of the labour market downturn (-69,000 or -3.0%).
Employment also rose in Manitoba (+3,100), pushing the unemployment rate down 0.5 percentage points to 5.3%. Overall, Manitoba's employment has remained stable throughout the labour market downturn.
In Newfoundland and Labrador, employment increased by 2,700 in November. This caused the unemployment rate to fall 1.1 percentage points to 15.9%.
The unemployment rate represents the number of unemployed persons expressed as a percentage of the labour force. The unemployment rate for a particular age–sex group is the number unemployed in that group expressed as a percentage of the labour force for that group.
Both sexes, 15 years and over
Seasonally adjusted
%
YEAR JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
1999 7.9 7.9 7.9 8.2 8.0 7.6 7.6 7.5 7.4 7.2 6.9 6.8
2000 6.7 6.8 6.8 6.8 6.7 6.7 6.8 7.0 6.9 7.0 7.0 6.8
2001 6.9 7.0 7.1 7.1 7.0 7.1 7.1 7.2 7.2 7.4 7.6 8.0
2002 8.0 7.9 7.8 7.7 7.8 7.5 7.6 7.4 7.5 7.5 7.5 7.5
2003 7.4 7.4 7.3 7.6 7.9 7.7 7.7 7.8 7.9 7.6 7.5 7.3
2004 7.3 7.3 7.4 7.2 7.2 7.3 7.1 7.1 7.0 7.1 7.2 7.1
2005 6.9 7.0 6.9 6.8 6.9 6.9 6.7 6.7 6.7 6.7 6.3 6.5
2006 6.6 6.4 6.3 6.3 6.1 6.1 6.4 6.5 6.4 6.2 6.2 6.1
2007 6.2 6.1 6.1 6.1 6.0 6.0 6.0 6.0 5.9 5.9 5.9 5.9
2008 5.8 5.9 6.1 6.0 6.1 6.2 6.1 6.2 6.2 6.3 6.4 6.6
2009 7.2 7.7 8.0 8.0 8.4 8.6 8.6 8.7 8.4 8.6 8.5
Source: Statistics Canada
www.statcan.gc.ca
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
Saturday, December 5, 2009
Ecotourism: Promoting Responsible Travel
Over the last decade or so, ecotourism has boomed. Defined as "responsible travel to natural areas that conserves the environment and improves the welfare of local people" by The International Ecotourism Society (TIES), ecotourism has been growing at a rate of 20 to 34 percent per year-and for good reason. Ecotourism allows you to visit some of the world's most beautiful-and remote-locations.
A subset of ecotourism is eco-luxury travel. "You can either go to Africa and be a backpacker or you can have a $10,000 tour," says Claudia G. Green, Ph.D., director of the Hospitality and Tourism Management Program at Pace University in New York. "The higher end traveler wants to be responsible, but is not going to give up comfort." These travelers enjoy all the comforts of home, personal service and elegant accommodations. Wilderness Safaris, for example, houses its travelers in luxurious tents, with en-suite bathrooms. Some of its African camps have pools and spa services.
Eco-luxury travel appeals to a sophisticated traveler, someone who wants to see some of the world's most beautiful places without making an impact on the environment. Eco-luxury experiences are popping up in exotic and remote locales all over the world, from Namibia and Botswana in Africa to India, Chile and even Pakistan. Green says that up-and-coming destinations include Gabon, Laos and Bhutan.
In addition to minimizing the impact on the environment, a goal of eco-luxury travel is to improve the welfare of the local people and promote the protection and conservation of the environment-and statistics show that it's accomplishing this goal. TIES reports that while 80% of the money paid for a traditional tour goes to airlines, hotels and other international companies, eco-lodges hire and purchase locally, investing as much as 95% in the local economy.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
New Locks Go High Tech
It's a familiar scenario. A family hits the road, headed to their vacation destination only to arrive and wonder: Did we lock the front door as we were leaving?
No need to worry, thanks to two well-known lock companies that recently introduced innovative, high-tech door locks that allow homeowners to control access to their homes remotely.
In September, Kwikset launched its remote access control solution, called SmartCode with Home Connect Technology. These keyless entry electronic locks, developed to work with home automation and security systems, can communicate wirelessly with other devices in the home. The locks allow you to check door lock status as well as control the lock using either a Web-enabled device or a home automation system. Now, if you forget to lock your door, and you're already at work, you can just do it yourself with the click of a mouse.
Schlage also offers a remote door lock system called Schlage LiNK. Using wireless technology, homeowners can remotely lock or unlock doors equipped with Schlage's wireless keypad locks, as well as monitor entry. Remote access can be obtained from a computer or Web-enabled mobile phone. The system can even be set up to notify parents when their children arrive home from school, by e-mail or text message.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
Shopping for a holiday tree?
Under ideal conditions, a fresh cut tree can last up to two weeks in your home. Follow these tips for choosing and maintaining a fresh holiday tree:
• Buy from a reputable tree seller.
• Inspect fresh trees by lightly shaking them or pulling on the needles. A fresh tree should hold its needles and show no signs of browning.
• Make a fresh cut in the bottom of your tree when you get home. Secure it into a sturdy base that contains water.
• Always keep the end of your tree just below the water line to prevent it from drying out. Check water levels often.
• Place the tree away from furnace vents, fireplaces, radiators and heat-generating appliances, including televisions.
• Decorate with energy-saving lights that give off little heat; unplug all tree lights before going to bed or leaving your home unattended.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
• Buy from a reputable tree seller.
• Inspect fresh trees by lightly shaking them or pulling on the needles. A fresh tree should hold its needles and show no signs of browning.
• Make a fresh cut in the bottom of your tree when you get home. Secure it into a sturdy base that contains water.
• Always keep the end of your tree just below the water line to prevent it from drying out. Check water levels often.
• Place the tree away from furnace vents, fireplaces, radiators and heat-generating appliances, including televisions.
• Decorate with energy-saving lights that give off little heat; unplug all tree lights before going to bed or leaving your home unattended.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
Wednesday, December 2, 2009
Residential Mortgage Market in Canada
As a member of the Canadian Association of Accredited Mortgage Professionals, I am please to share with you the December issue of CAAMP Stats. This attachment is its fall annual report on the state of the residential mortgage market in Canada.
To read the report please click on the link below.
http://onlineoffice.century21.ca/PublicStorage.c?ID=d349c165-5715-4251-af8e-153a0be16f64
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
To read the report please click on the link below.
http://onlineoffice.century21.ca/PublicStorage.c?ID=d349c165-5715-4251-af8e-153a0be16f64
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
Friday, November 27, 2009
How to Hold a Successful Garage Sale
Garage sales can be a great way to get rid of clutter — and earn a little extra cash — before you sell your home. But make sure the timing is right. Garage sales can take on a life of their own, and it might not be the best use of your energy right before putting your home on the market. Follow these tips for a successful sale.
1. Don’t wait until the last minute. You don’t want to be scrambling to hold a garage sale the week before an open house. Depending on how long you’ve lived in the home and how much stuff you have to sell, planning a garage sale can demand a lot of time and energy.
2. Get a permit. Most municipalities will require you to obtain a special permit or license in order to hold a garage sale. The permits are often free or very inexpensive, but still require you to register with the city.
3. See if neighbours want to join in. You can turn your garage sale into a block-wide event and lure more shoppers if you team up with neighbours. However, a permit may be necessary for each home owner, even if it’s a group event.
4. Schedule the sale. Sales on Saturdays and Sundays will generate the most traffic, especially if the weather cooperates. Start the sale early, 8 a.m. or 9 a.m. is best, and be prepared for early birds.
5. Advertise. Place an ad in free classified papers and Web sites, and in your local newspapers. Include the dates, time, and address. Let the public know if certain types of items will be sold, such as baby clothes, furniture, or weightlifting equipment. On the day of the sale, balloons and signs with prominent arrows will help to grab the attention of passersby.
6. Price your goods. Lay out everything that you plan to sell, and attach prices with removable stickers. Remember, garage sales are supposed to be bargains, so try to be objective as you set prices. Assign simple prices to your goods: 50 cents, 3 for $1, $5, $10, etc.
7. If it’s really junk, don’t sell it. Decide what’s worth selling and what’s not. If it’s really garbage, then throw it away. Broken appliances, for example, should be tossed. (Know where a nearby electrical outlet is, in case a customer wants to make sure something works.)
8. Check for mistakes. Make sure that items you want to keep don’t accidentally end up in the garage sale pile.
9. Create an organized display. Lay out your items by category, and display neatly so customers don’t have to dig through boxes.
10. Stock up on bags and newspapers. People who buy many small items will appreciate a bag to carry their goods. Newspapers are handy for wrapping fragile items.
11. Manage your money. Make a trip to the bank to get ample change for your cashbox. Throughout the sale, keep a close eye on your cash; never leave the cashbox unattended. It’s smart to have one person who manages the money throughout the day, keeping a tally of what was purchased and for how much. Keep a calculator nearby.
12. Prepare for your home sale. Donate the remaining stuff or sell it to a resale shop. Now that all of your clutter is cleared out, it’s time to focus on preparing your house for a successful sale!
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
1. Don’t wait until the last minute. You don’t want to be scrambling to hold a garage sale the week before an open house. Depending on how long you’ve lived in the home and how much stuff you have to sell, planning a garage sale can demand a lot of time and energy.
2. Get a permit. Most municipalities will require you to obtain a special permit or license in order to hold a garage sale. The permits are often free or very inexpensive, but still require you to register with the city.
3. See if neighbours want to join in. You can turn your garage sale into a block-wide event and lure more shoppers if you team up with neighbours. However, a permit may be necessary for each home owner, even if it’s a group event.
4. Schedule the sale. Sales on Saturdays and Sundays will generate the most traffic, especially if the weather cooperates. Start the sale early, 8 a.m. or 9 a.m. is best, and be prepared for early birds.
5. Advertise. Place an ad in free classified papers and Web sites, and in your local newspapers. Include the dates, time, and address. Let the public know if certain types of items will be sold, such as baby clothes, furniture, or weightlifting equipment. On the day of the sale, balloons and signs with prominent arrows will help to grab the attention of passersby.
6. Price your goods. Lay out everything that you plan to sell, and attach prices with removable stickers. Remember, garage sales are supposed to be bargains, so try to be objective as you set prices. Assign simple prices to your goods: 50 cents, 3 for $1, $5, $10, etc.
7. If it’s really junk, don’t sell it. Decide what’s worth selling and what’s not. If it’s really garbage, then throw it away. Broken appliances, for example, should be tossed. (Know where a nearby electrical outlet is, in case a customer wants to make sure something works.)
8. Check for mistakes. Make sure that items you want to keep don’t accidentally end up in the garage sale pile.
9. Create an organized display. Lay out your items by category, and display neatly so customers don’t have to dig through boxes.
10. Stock up on bags and newspapers. People who buy many small items will appreciate a bag to carry their goods. Newspapers are handy for wrapping fragile items.
11. Manage your money. Make a trip to the bank to get ample change for your cashbox. Throughout the sale, keep a close eye on your cash; never leave the cashbox unattended. It’s smart to have one person who manages the money throughout the day, keeping a tally of what was purchased and for how much. Keep a calculator nearby.
12. Prepare for your home sale. Donate the remaining stuff or sell it to a resale shop. Now that all of your clutter is cleared out, it’s time to focus on preparing your house for a successful sale!
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
Low-Cost Ways to Spruce Up Your Home’s Exterior
Make your home more appealing for yourself and potential buyers with these quick and easy tips:
1. Trim bushes so they don’t block windows or architectural details.
2. Mow your lawn, and turn on the sprinklers for 30 minutes before the showing to make the lawn sparkle.
3. Put a pot of bright flowers (or a small evergreen in winter) on your porch.
4. Install new doorknobs on your front door.
5. Repair any cracks in the driveway.
6. Edge the grass around walkways and trees.
7. Keep your garden tools and hoses out of sight.
8. Clear toys from the lawn.
9. Buy a new mailbox.
10. Upgrade your outside lighting.
11. Buy a new doormat for the outside of your front door.
12. Clean your windows, inside and outside.
13. Polish or replace your house numbers.
14. Place a seasonal wreath on your door.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
1. Trim bushes so they don’t block windows or architectural details.
2. Mow your lawn, and turn on the sprinklers for 30 minutes before the showing to make the lawn sparkle.
3. Put a pot of bright flowers (or a small evergreen in winter) on your porch.
4. Install new doorknobs on your front door.
5. Repair any cracks in the driveway.
6. Edge the grass around walkways and trees.
7. Keep your garden tools and hoses out of sight.
8. Clear toys from the lawn.
9. Buy a new mailbox.
10. Upgrade your outside lighting.
11. Buy a new doormat for the outside of your front door.
12. Clean your windows, inside and outside.
13. Polish or replace your house numbers.
14. Place a seasonal wreath on your door.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
Simple Tips for Better Home Showings
1. Remove clutter and clear off counters. Throw out stacks of newspapers and magazines and stow away most of your small decorative items. Put excess furniture in storage, and remove out-of-season clothing items that are cramping closet space. Don’t forget to clean out the garage, too.
2. Wash your windows and screens. This will help get more light into the interior of the home.
3. Keep everything extra clean. A clean house will make a strong first impression and send a message to buyers that the home has been well-cared for. Wash fingerprints from light switch plates, mop and wax floors, and clean the stove and refrigerator. Polish your doorknobs and address numbers. It’s worth hiring a cleaning service if you can afford it.
4. Get rid of smells. Clean carpeting and drapes to eliminate cooking odours, smoke, and pet smells. Open the windows to air out the house. Potpourri or scented candles will help.
5. Brighten your rooms. Put higher wattage bulbs in light fixtures to brighten up rooms and basements. Replace any burned-out bulbs in closets. Clean the walls, or better yet, brush on a fresh coat of neutral color paint.
6. Don’t disregard minor repairs. Small problems such as sticky doors, torn screens, cracked caulking, or a dripping faucet may seem trivial, but they’ll give buyers the impression that the house isn’t well-maintained.
7. Tidy your yard. Cut the grass, rake the leaves, add new mulch, trim the bushes, edge the walkways, and clean the gutters. For added curb appeal, place a pot of bright flowers near the entryway.
8. Patch holes. Repair any holes in your driveway and reapply sealant, if applicable.
9. Add a touch of color in the living room. A coloured afghan or throw on the couch will jazz up a dull room. Buy new accent pillows for the sofa.
10. Buy a flowering plant and put it near a window you pass by frequently.
11. Make centerpieces for your tables. Use brightly coloured fruit or flowers.
12. Set the scene. Set the table with fancy dishes and candles, and create other vignettes throughout the home to help buyers picture living there. For example, in the basement you might display a chess game in progress.
13. Replace heavy curtains with sheer ones that let in more light. Show off the view if you have one.
14. Accentuate the fireplace. Lay fresh logs in the fireplace or put a basket of flowers there if it’s not in use.
15. Make the bathrooms feel luxurious. Put away those old towels and toothbrushes. When buyers enter your bathroom, they should feel pampered. Add a new shower curtain, new towels, and fancy guest soaps. Make sure your personal toiletry items are out of sight.
16. Send your pets to a neighbour or take them outside. If that’s not possible, crate them or confine them to one room (ideally in the basement), and let the real estate practitioner know where they’ll be to eliminate surprises.
17. Lock up valuables, jewellery, and money. While a real estate salesperson will be on site during the showing or open house, it’s impossible to watch everyone all the time.
18. Leave the home. It’s usually best if the sellers are not at home. It’s awkward for prospective buyers to look in your closets and express their opinions of your home with you there.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
12 Questions to Ask When Choosing Your REALTOR®
Make sure you choose a REALTOR® who will provide top-notch service and meet your unique needs.
1. How long have you been in residential real estate sales? Is it your full-time job? While experience is no guarantee of skill, real estate — like many other professions — is mostly learned on the job.
2. What designations do you hold? Designations such as GRI and CRS®, which require that agents take additional, specialized real estate training, are held only by about one-quarter of real estate practitioners.
3. How many homes did you and your real estate brokerage sell last year? By asking this question, you’ll get a good idea of how much experience the practitioner has.
4. How many days did it take you to sell the average home? How did that compare to the overall market? The REALTOR® you interview should have these facts on hand, and be able to present market statistics from the local MLS to provide a comparison.
5. How close to the initial asking prices of the homes you sold were the final sale prices? This is one indication of how skilled the REALTOR® is at pricing homes and marketing to suitable buyers. Of course, other factors also may be at play, including an exceptionally hot or cool real estate market.
6. What types of specific marketing systems and approaches will you use to sell my home? You don’t want someone who’s going to put a For Sale sign in the yard and hope for the best. Look for someone who has aggressive and innovative approaches, and knows how to market your property competitively on the Internet. Buyers today want information fast, so it’s important that your REALTOR® is responsive.
7. Will you represent me exclusively, or will you represent both the buyer and the seller in the transaction? While it’s usually legal to represent both parties in a transaction, it’s important to understand where the practitioner’s obligations lie. Your REALTOR® should explain his or her agency relationship to you and describe the rights of each party.
8. Can you recommend service providers who can help me obtain a mortgage, make home repairs, and help with other things I need done? Because REALTORS® are immersed in the industry, they’re wonderful resources as you seek lenders, home improvement companies, and other home service providers. Practitioners should generally recommend more than one provider and let you know if they have any special relationship with or receive compensation from any of the providers.
9. What type of support and supervision does your brokerage office provide to you? Having resources such as in-house support staff, access to a real estate attorney, and assistance with technology can help an agent sell your home.
10. What’s your business philosophy? While there’s no right answer to this question, the response will help you assess what’s important to the agent and determine how closely the agent’s goals and business emphasis mesh with your own.
11. How will you keep me informed about the progress of my transaction? How frequently? Again, this is not a question with a correct answer, but how you judge the response will reflect your own desires. Do you want updates twice a week or do you prefer not to be bothered unless there’s a hot prospect? Do you prefer phone, e-mail, or a personal visit?
12. Could you please give me the names and phone numbers of your three most recent clients? Ask recent clients if they would work with this REALTOR® again. Find out whether they were pleased with the communication style, follow-up, and work ethic of the REALTOR®.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
1. How long have you been in residential real estate sales? Is it your full-time job? While experience is no guarantee of skill, real estate — like many other professions — is mostly learned on the job.
2. What designations do you hold? Designations such as GRI and CRS®, which require that agents take additional, specialized real estate training, are held only by about one-quarter of real estate practitioners.
3. How many homes did you and your real estate brokerage sell last year? By asking this question, you’ll get a good idea of how much experience the practitioner has.
4. How many days did it take you to sell the average home? How did that compare to the overall market? The REALTOR® you interview should have these facts on hand, and be able to present market statistics from the local MLS to provide a comparison.
5. How close to the initial asking prices of the homes you sold were the final sale prices? This is one indication of how skilled the REALTOR® is at pricing homes and marketing to suitable buyers. Of course, other factors also may be at play, including an exceptionally hot or cool real estate market.
6. What types of specific marketing systems and approaches will you use to sell my home? You don’t want someone who’s going to put a For Sale sign in the yard and hope for the best. Look for someone who has aggressive and innovative approaches, and knows how to market your property competitively on the Internet. Buyers today want information fast, so it’s important that your REALTOR® is responsive.
7. Will you represent me exclusively, or will you represent both the buyer and the seller in the transaction? While it’s usually legal to represent both parties in a transaction, it’s important to understand where the practitioner’s obligations lie. Your REALTOR® should explain his or her agency relationship to you and describe the rights of each party.
8. Can you recommend service providers who can help me obtain a mortgage, make home repairs, and help with other things I need done? Because REALTORS® are immersed in the industry, they’re wonderful resources as you seek lenders, home improvement companies, and other home service providers. Practitioners should generally recommend more than one provider and let you know if they have any special relationship with or receive compensation from any of the providers.
9. What type of support and supervision does your brokerage office provide to you? Having resources such as in-house support staff, access to a real estate attorney, and assistance with technology can help an agent sell your home.
10. What’s your business philosophy? While there’s no right answer to this question, the response will help you assess what’s important to the agent and determine how closely the agent’s goals and business emphasis mesh with your own.
11. How will you keep me informed about the progress of my transaction? How frequently? Again, this is not a question with a correct answer, but how you judge the response will reflect your own desires. Do you want updates twice a week or do you prefer not to be bothered unless there’s a hot prospect? Do you prefer phone, e-mail, or a personal visit?
12. Could you please give me the names and phone numbers of your three most recent clients? Ask recent clients if they would work with this REALTOR® again. Find out whether they were pleased with the communication style, follow-up, and work ethic of the REALTOR®.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
8 Reasons Why You Should Work With a REALTOR®
Not all real estate practitioners are REALTORS®. The term REALTOR® is a registered trademark that identifies a real estate professional who is a member of the Canadian Real Estate Association and subscribes to its strict Code of Ethics. Here are five reasons why it pays to work with a REALTOR®.
1. Navigate a complicated process. Buying or selling a home usually requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multipage settlement statements. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes.
2. Information and opinions. REALTORS® can provide local community information on utilities, zoning, schools, and more. They’ll also be able to provide objective information about each property. A professional will be able to help you answer these two important questions: Will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?
3. Help finding the best property out there. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your REALTOR® to find all available properties.
4. Negotiating skills. There are many negotiating factors, including but not limited to price, financing, terms, date of possession, and inclusion or exclusion of repairs, furnishings, or equipment. In addition, the purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.
5. Property marketing power. Real estate doesn’t sell due to advertising alone. In fact, a large share of real estate sales comes as the result of a practitioner’s contacts through previous clients, referrals, friends, and family. When a property is marketed with the help of a REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally pre-screen and accompany qualified prospects through your property.
6. Someone who speaks the language. If you don’t know a CMA from a PUD, you can understand why it’s important to work with a professional who is immersed in the industry and knows the real estate language.
7. Experience. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. Even if you have done it before, laws and regulations change. REALTORS®, on the other hand, handle hundreds of real estate transactions over the course of their career. Having an expert on your side is critical.
8. Objective voice. A home often symbolizes family, rest, and security — it’s not just four walls and a roof. Because of this, home buying and selling can be an emotional undertaking. And for most people, a home is the biggest purchase they’ll every make. Having a concerned, but objective, third party helps you stay focused on both the emotional and financial issues most important to you.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
1. Navigate a complicated process. Buying or selling a home usually requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multipage settlement statements. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes.
2. Information and opinions. REALTORS® can provide local community information on utilities, zoning, schools, and more. They’ll also be able to provide objective information about each property. A professional will be able to help you answer these two important questions: Will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?
3. Help finding the best property out there. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your REALTOR® to find all available properties.
4. Negotiating skills. There are many negotiating factors, including but not limited to price, financing, terms, date of possession, and inclusion or exclusion of repairs, furnishings, or equipment. In addition, the purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.
5. Property marketing power. Real estate doesn’t sell due to advertising alone. In fact, a large share of real estate sales comes as the result of a practitioner’s contacts through previous clients, referrals, friends, and family. When a property is marketed with the help of a REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally pre-screen and accompany qualified prospects through your property.
6. Someone who speaks the language. If you don’t know a CMA from a PUD, you can understand why it’s important to work with a professional who is immersed in the industry and knows the real estate language.
7. Experience. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. Even if you have done it before, laws and regulations change. REALTORS®, on the other hand, handle hundreds of real estate transactions over the course of their career. Having an expert on your side is critical.
8. Objective voice. A home often symbolizes family, rest, and security — it’s not just four walls and a roof. Because of this, home buying and selling can be an emotional undertaking. And for most people, a home is the biggest purchase they’ll every make. Having a concerned, but objective, third party helps you stay focused on both the emotional and financial issues most important to you.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
Thursday, November 26, 2009
Existing home sales rise in US, but values still down
As inventories continue to decline in the US, existing home sales jumped 10.1 per cent to a seasonally adjusted rate of 6.1 million units in October, from 5.54 million in September, according to the National Association of Real Estate. The figures easily beat predictions earlier from a Thomson Reuters poll of economists predicting home sales would increase just 1.4 per cent.
"The first-time homebuyer tax credit clearly was a motivating factor and an effective market stimulus to reduce inventories and help stabilize prices," says Mike Onorato, president of the Illinois Association of Realtors, which saw a 24.2 per cent increase in October home sales in that state.
Many real estate agents say the $8,000 tax credit for new homebuyer, which was set to expire on Nov. 30, pulled future buyers into the market earlier. If the tax credit had expired, the fear was the market would drop off in the winter and potentially beyond.
Hoping to stave that off, Congress renewed the credit earlier in November and broadened its reach to current homeowners as well. This latest move will expire on April 30, 2010. Current homeowners who have owned their homes for at least five years can now claim a tax credit of up to $6,500 for a home purchase.
Sales activity is at the highest pace since February 2007, when it hit 6.55 million.
"Many buyers have been rushing to beat the deadline for the first-time buyer tax credit that was scheduled to expire at the end of this month, and similarly robust sales may be occurring in November," says Lawrence Yun, NAR chief economist.
He says it is likely such a spike in October would result in a decline in December and early next year, however, before a possible surge in the spring or early summer.
Yun says an encouraging factor is the historically low interest rates, which were at the third lowest level on record dating back to 1971.
Meanwhile, despite the increase in buyers, prices were still down in the US.
The national median existing-home price for all housing types was $173,100 in October, down 7.1 per cent from October 2008. That could largely be due to distressed properties, which accounted for 30 per cent of sales in October.
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
Source: Mortgagebrokernews.ca
Open House Safety Tips
An open house can be a great sales tool, but it also exposes you to numerous unfamiliar people for the first time. Stay safe by practicing these guidelines.
* Call the local police department and ask them to have a squad care drive by during your open-house hours.
* Check your cell phone’s strength and signal prior to the open house. Have emergency numbers programmed on speed dial. Carry an extra, fully charged cell phone battery.
* Determine several “escape” routes that you can use in case of an emergency. Make sure all deadbolt locks are unlocked to facilitate a faster escape.
* Turn on the lights and open the curtains. These are not only sound safety procedures, but also great marketing tactics.
* Make sure that if you were to escape by the back door, you could escape from the backyard. Frequently, high fences surround yards that contain swimming pools or hot tubs.
* When prospective buyers begin to arrive, jot down their car descriptions, license numbers and physical descriptions.
* When showing the house, always walk behind the prospect. Direct them; don’t lead them. Say, for example, “The kitchen is on your left,” and gesture for them to go ahead of you.
* Notify a friend or a relative that you will be calling in every hour on the hour. And if you don’t call, they are to notify the police immediately.
* Inform a neighbour that you will be showing the house and ask if he or she would keep an eye and ear open for anything out of the ordinary.
Source: National Association of REALTORS® Safety Week kit
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
* Call the local police department and ask them to have a squad care drive by during your open-house hours.
* Check your cell phone’s strength and signal prior to the open house. Have emergency numbers programmed on speed dial. Carry an extra, fully charged cell phone battery.
* Determine several “escape” routes that you can use in case of an emergency. Make sure all deadbolt locks are unlocked to facilitate a faster escape.
* Turn on the lights and open the curtains. These are not only sound safety procedures, but also great marketing tactics.
* Make sure that if you were to escape by the back door, you could escape from the backyard. Frequently, high fences surround yards that contain swimming pools or hot tubs.
* When prospective buyers begin to arrive, jot down their car descriptions, license numbers and physical descriptions.
* When showing the house, always walk behind the prospect. Direct them; don’t lead them. Say, for example, “The kitchen is on your left,” and gesture for them to go ahead of you.
* Notify a friend or a relative that you will be calling in every hour on the hour. And if you don’t call, they are to notify the police immediately.
* Inform a neighbour that you will be showing the house and ask if he or she would keep an eye and ear open for anything out of the ordinary.
Source: National Association of REALTORS® Safety Week kit
It's Your Career - I'm Here To Support YOU!
Constantine Isslamow
Real Estate Broker/Mortgage Broker/Manager
Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.
Independently Owned and Operated
Blog / Website / Follow Me / LinkedIn
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
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