REMAX BRAND POWER - Toronto Real Estate

Jas's Thoughts - BRAND POWER!     

Think of a Porsche, Cadillac, BMW, Lexus and you think of powerful, quality cars.  Tried and tested to offer the greatest luxury, convenience, reliability and thrill of driving a very nice car. 

In real estate, people think of and choose RE/MAX as their most trusted and desired company to work with.  This isn't by accident or luck.  Over time, those agents attracted to this Brand are usually better educated, on average higher producers and most work full time. 

Consider RE/MAX as the Harvard University of real estate.  Media calls up its leadership for real estate news.  Realtors pay a premium membership fee to attend it so they can have access to the finest training programs in the industry.

Why do 7 of 10 buyers prefer to work with RE/MAX?  Why do majority of sellers prefer to SELL with RE/MAX?  Over time consumers have benefited by the experience, professionalism and dedication of RE/MAX Realtors.

Sure there are differences within RE/MAX Realtors.  Some like myself take advantage of courses, seminars, mastermind groups, etc. to better my knowledge so I can help my clients where others don't.

We see the highest turnover in Real Estate because it is such an expansive industry with so many niche products and services.  As a Realtor you have to stay on top of the ever changing market conditions to be able to provide clients with the right information and best service.  That is where top Realtors stands arms length from the average Joe who works Real Estate part time.

How Does RE/MAX brand help?  click here

Jas Jagpal, Broker at RE/MAX Dynasty Realty Inc.  He has formed 2 teams.  One specializing in Investing, primarily in condos and the second helping clients sell their houses in the GTA.  No matter what your needs are, contact him if you are looking to buy, sell or invest in the Greater Toronto Area.  

Choose Results, Honesty & integrity.  Choose Team Jas Jagpal.  

Jas Jagpal, Broker  647.272.6629   jasjagpal@gmail.com  Office: 905.471.0002 
Jess Jagpal, Sales Representative  jessjagpal@gmail.com  416.312.9742

 

 

Posted via email from Markham Houses : Markham Condos For Sale- Investment, Pre-Construction, Resale

September 2012, Toronto Real Estate Market Update

Toronto, September 11, 2012.

The August 2012 sales statistics are out and once again we have declining sales compared to 2011.  This time the numbers are down 12.5% from 7,330 sales in August 2011 to 6,418 sales in August 2012.

What is contributing to this sales decline?  Working in the field it appears "affordability" is becoming an issue.  Average prices are 6.5% higher in 2012 from 2011.   Up 16% in detached homes in the Toronto 416 area.

We also have the new "mortgage rules" which are showing their impact.  Reducing the Amortization from 30 years to 25 years in essense reduced the buying power for many first-time home buyers.

Finally the Toronto Land Transfer Tax is pushing off people from selling and buying another home.  When you calculate Land Transfer Tax on a $500K average price home in Toronto you are paying $6,475 of Provincial Land Transfer Tax now add the Toronto portion and you are almost doubling the cost to a whopping $12,200 in taxes.  So if you had to sell and buy again, you are looking at $14K - $15K of total closing costs on the buying end... notwithstanding fees and costs associated with selling.  This is causing some people to rethink selling.  That is why I'd say new listings are down as well in August.  Inversely this will help to keep prices up as market conditions stay tight.  So if anyone was hoping for prices to fall.  Not anytime soon. 

For your information: The MLS® Home Price Index (MLS® HPI)* composite index, which allows for an apples-to-apples comparison of benchmark home prices from one year to the next, was up by 6.3 per cent year-over-year.

5 Home Buying Tips + Videos:
1.  Work with a mortgage lender and find out what you are pre-approved for.
2.  Work a monthly budget and figure out what you are comfortable spending on housing on a monthly basis.
3.  Choose an area that you want to move in.
4.  Work with a trusted Realtor, let them know your budget plan and have them determine exactly what can be purchased in your choice of location and buyer criteria.
5.  View properties and put an offer in.

Remember ASK a lot of questions.  There are no dumb questions.  Buying is a nervous time and holding back from your trusted Realtor will only dampen your buying experience.  It is better to get your questions answered than being stressed.  Oh by the way,  I would be more than happy to help you or your family and friends buy or sell a house or condo.

Videos on "Are You Fit To Buy?"

 

Jas Jagpal, Broker at RE/MAX Dynasty Realty Inc.  He has formed 2 teams.  One specializing in Investing, primarily in condos and the second helping clients sell their houses in the GTA.  No matter what your needs are, contact him if you are looking to buy, sell or invest in the Greater Toronto Area.  

Choose Results, Honesty & integrity.  Choose Team Jas Jagpal.  

Jas Jagpal, Broker  647.272.6629   jasjagpal@gmail.com  Office: 905.471.0002
Jess Jagpal, Sales Representative  jessjagpal@gmail.com  416.312.9742

Posted via email from Markham Houses : Markham Condos For Sale- Investment, Pre-Construction, Resale

Toronto Real Estate Market Update - Condo Rentals / Tips on Buying

Toronto Real Estate Market Facts Sept, 4 2012

Now that our kids have gone back to school and everyone is getting back to "normal life",  I expect real estate transactions to pick up.  In August, I did notice the condo rental market tightening up a more people turn to rentals than buying in this uncertain financial markets.  It is a boon for investors who are renting as they are getting premium rents for their units.

 

Are you thinking of buying a house or condo?  Even those who have bought before, as many of my clients have done, often forget the process and have many questions.  It's important to be able to call, text or email your Realtor and get answers right away.  I encourage you to ask, ask and ask  as this is your right as a client.

 

Here is a Tip on Mortgages & Buying a home  

 

1.  Before you are looking to buy and apply for a mortgage, I'd recommend pulling your credit report and score. www.Equifax.ca  Go through it carefully and make sure everything is correct.  The banks will use this report to determine the amount they will lend you and your rate.  It is better to fix any errors then being told afterward you can't get a mortgage.  Save yourself the shock, pain and embarrassment.

 

2.  After getting a mortgage approval on an offer for a home, DO NOT, buy a big-ticket item on your credit cards.  Banks pull your credit report again before lending you the money near closing.  With more debts racked up, the banks will lend you less.  Now you are stuck paying the difference and people have lost their homes and deposits because of this.  Top agents will make sure they tell you this.

 

3.  Set aside 2-3% for closing costs.  Especially when you are not a first-time Buyer.  Top agents will do a closing costs analysis.  Ask if your Realtor doesn't.    

 

4.  Opt for accelerated bi-weekly mortgage than a monthly one to pay down your mortgage faster. 

 

Remember, if you have any real estate buying, selling, investing questions or have a friend, family member who does, just call me and give me the opportunity to help out.

Jas Jagpal, Broker at RE/MAX Dynasty Realty Inc.  He has formed 2 teams.  One specializing in Investing, primarily in condos and the second helping clients sell their houses in the GTA.  No matter what your needs are, contact him if you are looking to buy, sell or invest in the Greater Toronto Area.  

Choose Results, Honesty & integrity.  Choose Team Jas Jagpal.  

Jas Jagpal, Broker  647.272.6629   jasjagpal@gmail.com  Office: 905.471.0002
Jess Jagpal, Sales Representative  jessjagpal@gmail.com  416.312.9742

Posted via email from Markham Houses : Markham Condos For Sale- Investment, Pre-Construction, Resale

Are You Fit To Sell your home in Toronto?

Many Sellers or Realtors don't quite understand the many facets that need to be looked at before listing your home For Sale.

We've all taken Buyers to homes that are on Sale and wonder "what were they thinking"?

I remember vividly taking a client to a 3 year old house, a couple years back, in a prime location and was embarrassed to walk in with my clients.  The walls were filthy, food all over the floor in the kitchen and the hard wood floors sticky, while the home owners just sat their in the kitchen eating.

This home sold for over $30K less than market value because the owners did not understand or care to show case the home to Sell at the highest price.  With a thorough cleaning and few hundred dollars paint investment, they would've made thousands more.

You will find a selection of professional Videos by RE/MAX that emphasize the key areas that a home seller must consider when Selling their house.

If you are considering selling your homes in Markham and GTA and have questions, want to sell fast and at the highest possible price, then contact us and we will be happy to help you.

Jas Jagpal, Broker at RE/MAX Dynasty Realty Inc.  He has formed 2 teams.  One specializing in Investing, primarily in condos and the second helping clients sell their houses in the GTA.  No matter what your needs are, contact him if you are looking to buy, sell or invest in the Greater Toronto Area.  

Choose Results, Honesty & integrity.  Choose Team Jas Jagpal.  
 Jas Jagpal, Broker  647.272.6629   jasjagpal@gmail.com  Office: 905.471.0002 
 Jess Jagpal, Sales Representative  jessjagpal@gmail.com  416.312.9742

Posted via email from Markham Houses : Markham Condos For Sale- Investment, Pre-Construction, Resale

How to Buy in Toronto, Canada if you live in Foreign country!

Just recently a lady from New Delhi, India contacted me in regards to buying a home in Canada and had several questions on what the precedure is.  If she could get a mortgage loan, etc.  So if you are a foreigner where there are no rules in your country prohibiting you from owning property elsewhere then here is an example of what you'll need to do.

1.  Contact a local Realtor, you can trust, like myself who the experience to advise you in the Toronto Real Estate Market.

2.  Let them know exactly the reasons why you intend to buy.  Investment, personal use because you are planning to move here.

3.  How much money you have to invest and what are you looking for.  A house, condo, commerical.

4.  If you are not paying ALL CASH and need a mortgage loan, then you will need to qualify.  So if you need a bank loan to buy a house, you will need have a minimum 35% downpayment, plus 6 months carrying expenses in your bank account.  Plus show income source / job letter to secure a mortgage.  In addition banks require you to "sign in person."  You can not do a Power of Attorney.  You can have a notarized Power of Attorney for the Realtor if you trust them well to help you BUY! and Sign on your behalf.

5.  As with all purchases, you will require a DEPOSIT.  You should be able to Wire money to a Lawyers account or have your own account Setup from which a Draft can be made to the Brokerage/ Lawyer holding the funds.

6.  Do your due-dilligence and research.  Your Realtor is a great source to help you accomplish this and liason between banks, lawyers on your behalf.  Ask them lots of questions.  Good idea to CALL THEM! and not just Email.

If you have any further questions, please feel free to contact me or visit our website.

Jas Jagpal, Broker at RE/MAX Dynasty Realty Inc.  He has formed 2 teams.  One specializing in Investing, primarily in condos and the second helping clients sell their houses in the GTA.  No matter what your needs are, contact him if you are looking to buy, sell or invest in the Greater Toronto Area.  

 

Choose Results, Honesty & integrity.  Choose Team Jas Jagpal.  
 Jas Jagpal, Broker  647.272.6629   jasjagpal@gmail.com  Office: 905.471.0002 
 Jess Jagpal, Sales Representative  jessjagpal@gmail.com  416.312.9742

Posted via email from Markham Houses : Markham Condos For Sale- Investment, Pre-Construction, Resale

What Toronto's New Mortgage Rules Mean To You?!

It's been a couple of weeks since my last posting.  It has been a busy time and there is so much happening in the Toronto real estate market and the world financial markets that many people are confused and anxious about their future.  

The Federal government announced Mortgage Rule changes that will take affect July 9th.

What are the main changes?

1.  Amortization period reduced from 30 years to 25 years
2.  Refinancing credit from your home is reduced from 85% to 80%.
3.  Homes over $1 million can't get CMHC insurance. 

What does this mean?

1.  If you put 5% down to buy a house or condo,  for every $100,000 loan you will be paying roughly $50 extra per month.  So on an average $400K home you are looking at an additional $200 a month. 

Who is going to be impacted?

This will primarily impact first time home buyers whose budgets are already stretched and can only afford 5% down payments.  Instead of buying a home at $400K, they might only be able to afford $350K and thus find that a great many homes are out of their reach.

What should you do?

If you are seriously considering buying.  Talk to your mortgage adviser or myself today.  You'll need to lock in a deal prior to these changes July 9th.  We're expecting these changes to make the market hotter in the next month so it is a great time to SELL!  Buyers need to act FAST!

I predict a huge rush to buy before the deadline and then a slowdown like we had during the GST/HST rule changes a couple years back. 

Thinking of doing renovations?

If so you'll want to make an appointment with your financial institution right away if you need the 85% financing mark.

The last change affect CMHC not insuring homes over a million dollar shouldn't affect the market that much at all.  If you are buying a million dollar house you ought to have 20% down payment... otherwise just your mortgage payments are ridiculously high.  I expect some homes near 1 million might have a slight downward pressure to sell below a million dollars for buyers to get insured.

Jas Jagpal, Broker at RE/MAX Dynasty Realty Inc.  He has formed 2 teams.  One specializing in Investing, primarily in condos and the second helping clients sell their houses in the GTA.  No matter what your needs are, contact him if you are looking to buy, sell or invest in the Greater Toronto Area.  

Choose Results, Honesty & integrity.  Choose Team Jas Jagpal.  E: jasjagpal@gmail.com O:905.471.0002 
 Jess Jagpal, Sales Representative  jessjagpal@gmail.com  416.312.9742

So there you are folks the biggest news in real estate.  Don't forget to check out new pre-construction projects at my Toronto Condo Real Estate website.  Plenty of new projects coming up in Richmond Hill!  XPRESSION is something you ought to consider.

Posted via email from Markham Houses : Markham Condos For Sale- Investment, Pre-Construction, Resale

June 2012 Mid-Month Toronto Resale Housing Market Statistics

It's a strong Toronto real estate market.  Average price is still 8% higher than last year and we can expect this trend to continue with interest rates forecasted to stay low and market conditions tight.  Remember real estate is -local (location, location, location) so not every neighborhood saw same price increases so you'd need to get a CMA for your house to know what you can sell it for.  Call us to book your appointment.

TORONTO, June 18, 2012 – Greater Toronto REALTORS® reported 4,597 sales through the first 14 days of June – a result that was on par with the strong sales activity reported in the June 2011 mid-month release. While sales were flat on a year-over-year basis, the total number of new listings entered into theTorontoMLS system was up by 16 per cent to 8,382.

“Sales growth continued to be much stronger outside of the City of Toronto in the first half of June.  While higher average home prices and slower listings growth in the City of Toronto likely explain some of the disparity in sales growth, recent polling suggests that the City of Toronto’s Land Transfer Tax is having a substantial impact on where many households are looking to buy,” said Toronto Real Estate Board President Richard Silver.

“Recent polling indicated that three-quarters of people in Toronto and surrounding 905 regions who are planning to move over the next two years said that they are more likely to move outside of Toronto specifically because of the added upfront costs associated with the Toronto Land Transfer Tax,” continued Silver.

The average selling price for transactions during the first two weeks of June was $516,834 – up by over eight per cent compared to the average of $477,025 reported for the first two weeks of June 2011.

“The annual rate of price growth remains very high in the GTA.  Increased listings will result in more balanced market conditions over the next year, but it will take some time before price growth will moderate to a more sustainable pace.  Right now, months of inventory remains very low from a historic perspective and will likely not climb back to the pre-recession norm until 2013,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

From the Toronto Real Estate Board

Jas Jagpal, Broker at RE/MAX Dynasty Realty Inc.  He has formed 2 teams.  One specializing in Investing, primarily in condos and the second helping clients sell their houses in the GTA.  No matter what your needs are, contact him if you are looking to buy, sell or invest in the Greater Toronto Area.  
Choose Results, Honesty & integrity.  Choose Team Jas Jagpal.  E: jasjagpal@gmail.com O:905.471.0002 
 Jess Jagpal, Sales Representative  jessjagpal@gmail.com  416.312.9742

Posted via email from Markham Homes for Sale : Markham Condos Real Estate : Investment Pre-Construction Condos

Week 18 - April 2012 Toronto Real Estate Market Statistics

Now I can list off the stats for April remarkable 10350 sales compared to 8778 in 2011.  Or the average price increase to $517K from $477K in April 2011.  Or that we had 2000 more listings in April than a year ago.  But what does all this mean?

You turn on the news and we continue to hear conflicting news of a housing bubble or market correction or not.  The media is very influential to sway our emotions and mould our thoughts and hence our actions.  I wouldn't be surprised many of these new listings are people trying to "cash out" believing the market is crashing.  No one knows for certain.

 

Did you know nearly 25% of the listings sold are Condos and over 86% sold above $200k price tag?  Now that was a surprise for me.  The number is much higher if you include pre-construction condo sales.  The average price for condos is $340K while a detached home was $650K.  No wonder new buyers are trending to buy condos or maybe a townhouse to start.  For a detached home, one requires significant savings and income even with 5% down payments. 

Do I think the Toronto Market will cool?  A question I'm asked all the time.  I don't see that happening right now for detached homes.  At present construction can't meet the demand.  But for condos, we are seeing a steadying of prices and the only way Investors will make money, right now, is by the process known as "Builder Appreciation" or holding for a few years after they've closed.  The low interest rates are a boon for investors.  For those who want to learn to invest we teach this process in small groups, or one on one seminars at our office.  Email: invest@realcondo.com to sign up.

 

3 Month Market Forecast:  I see a lot of selling and buying happening.  Unless we get a rise in interest rates we should see significant homes exchanging hands, parents helping children buy condos, investors investing and average prices steadying at their current highs.

 

For those interested in all things CONDOS.  Like our page on facebook:  www.Facebook.com/realcondo  I just set it up yesterday and we will be posting, new projects, assignment sales, condo info, etc.  

Once again if you are looking to SELL, INVEST, ASSIGN or BUY a house or Condo.  

Then Choose Honesty : Guaranteed Results | Choose Integrity : Team Jas Jagpal

Jas Jagpal, Broker at RE/MAX Dynasty Realty Inc.  He has formed 2 teams.  One specializing in Investing, primarily in condos and the second helping clients sell their houses in the GTA.  No matter what your needs are, contact him if you are looking to buy, sell or invest in the Greater Toronto Area.  

Choose Results, Honesty & integrity.  Choose Team Jas Jagpal.  E: jasjagpal@gmail.com  O:905.471.0002 
Assistant; Buyer Representative: Jess  jessjagpal@gmail.com  416.312.9742

Posted via email from Markham Homes for Sale : Markham Condos Real Estate : Investment Pre-Construction Condos