How Will CMHC Announcement Affect Buyers & Sellers?

Toronto Real Estate CMHC NEWS

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You should be concerned or not?  Most Buyers have no reason to be after CMHC announcement.

CMHC will begin (if they already haven't) to tighten it's loan insurance approvals for perspective home buyers.

They are already nearing $550 Billion dollars of loans insured and who knows how fast they will reach their $600 Billion limit set by the Government and insured by Tax payers.

How will it affect you? Well, first time buyers, self-employed and those with less than 20% should be especially concerned if they were thinking of buying a home in the near future.

Banks should be taking some of the blame for even insuring loans where Buyers put down more than 20%.  This is an "accounting move" and banks "positioning" themselves to save their ass if anything happens in the market because the "tax payers" are liable to pay for it.

So if you were thinking of buying... you might have to come up with more soon 10% instead of 5% or be able to pay higher monthly premiums if amortization rules change to 25 years.

So make sure you pull your "credit scores", talk to your lender to see what you are approved for, have reasonable savings and you might want to consider buying now at these record low- interest rates.

These rules will impact SELLERS too and will tend to cool the market down and put downward pressure on pricing.  So Sell Today with my 30-60 Day Sold Guarantee!

Jas Jagpal, Broker
RE/MAX Dynasty Realty Inc

To Buy, Sell, Assign, Invest give Team Jagpal a call. 

 

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

How to do Effective Open Houses in Toronto Real Estate Market?

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How Effective are Open Houses to help Sellers sell their home in the Toronto Real Estate Market?

This is debated amongst Realtors.  Some say open houses are a waste of time and they hate doing them while others say they are very effective in exposing the home to potential buyers.  Both sides are correct.  Open houses are only effective if you hire a Realtor that has a effective MARKETING strategy.  Otherwise, as a Seller, you might as well not inconvenience yourself and waste the Realtor's time.  If you want your Realtor to do Open Houses, make sure they have an effective Marketing strategy for your house!  Find out before you hire them.

If you are a Realtor reading this.  Remember our job is not "sales" but to be highly effective "Marketers"!  Don't take a LISTING if you don't think "you" can market it to SELL.  You are wasting your precious time and money.  

Watch the Video to see how you can do an effective Open House in Toronto!

Get excited to help your clients out.  I know I am!  Remember our job is to get the most number of "qualified eyes" to come see the property.  And yes, the honest truth is that most open houses don't sell the home, however, because some do, it is our job to make sure when we do them, we follow an action plan and have the mindset that gets us ready to SELL the home!

We attract into our life, what we give.  So greet those who come with big smile and let them know you are thankful they came... and I promise you- not only will you feel better and upbeat, but you will attract a Buyer and get your Listing SOLD!

Jas Jagpal, Broker
Remax Dynasty Realty Inc. Brokerage.

FREE SELLER CONSULTATION & CMA - Click Here 

RE/MAX Dynasty Realty Inc.  8 Shadlock St. Markham O: 905-471-0002 
Houses: www.TeamJagpal.com  Condos: TorontoCondoRealEstate.ca
 © 2012 Jas Jagpal, BROKER, BSc. York University

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