Fear Factor - What's Stopping You?

Having read many "inspirational, personal improvement" books, I knew many years ago that FEAR is a burden that everyone carries and it really controls our lives.  In Real Estate you get to see this play out in the decisions people make to buy, sell and invest.

Over the past few days I've had the opportunity to talk to a few different buyers interested in Real Estate.  The first person, a young first time home buyer wanting to invest in a pre-construction condo but very afraid of taking the first step.  She had many questions (this is important)... unless you ask and get the answers to your question, you can't REASON with your fear.  She beat out her fear and bought the investment.

Today I had the pleasure of talking to a working couple with three kids.  Couragiously they made a decision two years ago to invest in a Centro Condo at Scarborough Town Centre.  It was amazing to hear her story and how difficult it was for them to save with so many expenses and taxes, but despite that, they used one of the secrets of investing,  their line of credit to purchase their Condo.  I can't wait to see their reaction when they sell their $220K suite in March 2011 for around $270.  Someone who was struggling to save money will have conservatively $30K in their savings account.  That will surely help them when they send their kids to university.  But I know better - they'll be itching to make their next investment... you just can't stop at one.

Fear holds us back in every aspect of our lives.  People dread picking up the phone and calling someone.  What will they say?  What will they think? 

Or we make excuses.  I can't do this.  I can't do that.  I'm not smart enough.  I don't have a college education.  I'm too old.  I don't have enough money.  I'm not ready yet.  I don't know anything about investing.  Only if I knew what to do... and so on.

Our excuses are just projecting to the world our FEAR and we're usually not even aware of it.

I've learned that when we start "doing" what we fear... our fear starts to disappear.  Unfortunately FEAR has taken control of our lives.  We buy, drink, eat, sleep and even socialize in fear.

How do we achieve that dream we've always been dreaming? For starters, we better START taking tiny steps, each day to confront our fears and move towards what we want.  Without effort, nothing is gained.  Without risk, there is no reward.

So challenge yourself, whatever your FEAR is and take action right now and do what it is that you FEAR.

Have a question?  E-mail jas and he'll blog it if it is a good one.

Jas Jagpal,BSc. York University Sales Representative
E: jasjagpal@rogers.com Cell: 647-272-6629  W: www.JasJagpal.com

--------------------------------------------------------------------------------
“Different commission rates, fees and listing and marketing services may be offered by other RE/MAX Franchisees and Sales Associates in Canada.” 
Remax Dynasty Realty Inc. Brokerage  Independently Owned and Operated.  Not Intended To Solicit Buyers / Sellers under contract. 
8 Shadlock St. Markham, ON L3S 3K9   O:905-471-0002

© 2010- Jas Jagpal, 

Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos, Toronto Real Estate: www.JasJagpal.com

 Thinking of Selling a House or a Condo - Don't pay 5% or 4% commissions.   
FLAT FEE MLS listings is the way to go: www.SELLFOR999.com

Posted on: www.1stoprealestate.ca : www.LinkToMorningside.com: www.MarkhamBoxgrove.com

  Bookmark & Share

Posted via email from Markham Boxgrove Real Estate Blog

For Sale - Lovely 2700 Sq Ft. Raised Ranch Beauty for $285K. Open House Sunday.

Open House Sunday Oct 17th, 2-5pm at 868 Westwood Drive.

Stunning Family Home / Many Upgrades on 59' x 114' lot.

As you walk into this beauty you'll feel the spaciousness of this large raised ranch.  Then you'll notice how bright and beautiful it looks... literally all you got to do is pack up and move right in and feel at home.  The large living and dining room with a gas fireplace, cathedral ceiling and recessed lighting and stunning hardwood floors invite you into the exquisite gourmet kitchen.  Yes all stainless steel appliances, cherry cabinets, marble tiles, breakfast bar and a center island.  What more can you want?

Well there is more... 2 nice bedrooms leading up to a 3rd master bedroom with an ensuite Jacuzzi, walk-in closet and a 2-sided gas fireplace.

There is more... another full bathroom on the main level... and walk down to the lower level and you'll enter a bright family room, games room, 3rd full bathroom, 4th bdrm, 5th bdrm/office, laundry & storage. 

Outside you have a home that is nicely landscaped with stamped concrete driveway, patio with large wood deck.  There are plenty of amenities close by... golf, marina, beach, park and schools.

The owners have priced this beauty just right and it won't last long.  So let your friends and family know if they are thinking of moving to a nice suburb in the greater Windsor area.  Open house this Saturday 1-4 p.m.  Call me at 647-272-6629 for details.

Location: Belle River, Ontario, N0R 1A0

Price: $285,000

MLS# = X1964639

See and download the full gallery on posterous

Have a question?  E-mail jas and he'll blog it if its a good one.

Jas Jagpal,BSc. York University Sales Representative
E: jasjagpal@rogers.com Cell: 647-272-6629  W: www.JasJagpal.com

--------------------------------------------------------------------------------
“Different commission rates, fees and listing and marketing services may be offered by other RE/MAX Franchisees and Sales Associates in Canada.” 
Remax Dynasty Realty Inc. Brokerage  Independently Owned and Operated.  Not Intended To Solicit Buyers / Sellers under contract. 
8 Shadlock St. Markham, ON L3S 3K9   O:905-471-0002

 

© 2010- Jas Jagpal, 

Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos, Toronto Real Estate: www.JasJagpal.com

 Thinking of Selling a House or a Condo - Don't pay 5% or 4% commissions.   
FLAT FEE MLS listings is the way to go: www.SELLFOR999.com

Posted on: www.1stoprealestate.ca : www.LinkToMorningside.com: www.MarkhamBoxgrove.com

  Bookmark & Share

 

Posted via email from Markham Boxgrove Real Estate Blog

21 Freehold Townhomes on Finch Ave just East of Yonge

Your invited to Royal living at the Crown Mews built by Queens Gate Homes.  Fabulous luxury Townhomes in Willowdale.

Grand Opening: $20K upgrade Bonus Package.

Grand Opening: October 14th, 2010.

3 Stainless Steel Appliances, Washer, Dryer, Fireplace, Granite Kitchen Countertop, Bathroom Marble Tops, Air Conditioning.

Move in Summer 2011.

Priced from $579,900 to $759,900

Townhomes from 1495 Sq Ft to 1838 Sq Ft.

Download Floor Plans

With only 21 luxury townhomes to choose from and closing next year... these won't last long.  Call Jas today to reserve your dream home.

Jas Jagpal,BSc. York University Sales Representative
E: jasjagpal@rogers.com Cell: 647-272-6629  W: www.JasJagpal.com

--------------------------------------------------------------------------------
“Different commission rates, fees and listing and marketing services may be offered by other RE/MAX Franchisees and Sales Associates in Canada.” 
Remax Dynasty Realty Inc. Brokerage  Independently Owned and Operated.  Not Intended To Solicit Buyers / Sellers under contract. 
8 Shadlock St. Markham, ON L3S 3K9   O:905-471-0002

 

© 2010- Jas Jagpal, 

Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos, Toronto Real Estate: www.JasJagpal.com

 Thinking of Selling a House or a Condo - Don't pay 5% or 4% commissions.   
FLAT FEE MLS listings is the way to go: www.SELLFOR999.com

Posted on: www.1stoprealestate.ca : www.LinkToMorningside.com: www.MarkhamBoxgrove.com

  Bookmark & Share

Posted via email from Markham Boxgrove Real Estate Blog

Could the Realtor be the PROBLEM?

Posted on www.Zoocasa.com

Question:

Do we need to drop our price again, or could the Realtor be the problem? My home has been on the market for six weeks and not one showing. The broker did an open house after I asked him about holding one. He never initiates updates and after four weeks on the market he said we should drop the price. We did drop the price but have not gotten any interest. Do we need to drop our price again, or could the Realtor be the problem?
Frazer (3 months ago) - Chaplin Estates, ON

Jas's Answer:

Frazer, you are in a prime location... Yonge and Eglinton. So we can most likely remove location as the barrier unless of course you are on a street that isn't "prime".

Frazer, most home owners don't know this but "Realtors do not determine the price your house sells for but they do determine what homes are shown to their Buyers". The over all market conditions determine the price.

The market is slower than it was back in the spring and prices have fallen. For example a house worth $500,000 in April would most likely be going for around $475 or less. So if you are looking to get what your neighbors received in April, I'm sorry but that is next to impossible. Multiple offers are far and few today.

From you question I'd say the biggest factor that you are NOT getting any "showings" has to be that your listing is over priced. As an agent, I would have never taken your listing if that was the case. What happens with over priced listings is that Agents will use it to sell other homes that are priced right. Your home is becomes a tool to sell your neighbors.

If the house is priced right and is in a nice location you will get the greatest traffic in the first 3 weeks. If it also SHOWS well, then you are highly likely to receive an offer and be sold within a month. But not to see any traffic is rare and clearly points to an overpriced listing. Over priced listings will linger indefinitely and either expire or terminate through mutual consent between home owner and the listing brokerage.

Unfortunately, most home owners will start making price reductions after the fact and statistically get less for their home than if they had originally priced it right.

I'd recommend talking to your agent and pricing it right to sell as soon as you can but if you can't trust him and have no communication with him, it doesn't seem your "agency" relationship is working for you.

I think you know what you need to do. Be brave and do it before your listing becomes stale and you lose a boat load of money.

Have a question?  E-mail jas and he'll blog it if its a good one.

Jas Jagpal,BSc. York University Sales Representative
E: jasjagpal@rogers.com Cell: 647-272-6629  W: www.JasJagpal.com

--------------------------------------------------------------------------------
“Different commission rates, fees and listing and marketing services may be offered by other RE/MAX Franchisees and Sales Associates in Canada.” 
Remax Dynasty Realty Inc. Brokerage  Independently Owned and Operated.  Not Intended To Solicit Buyers / Sellers under contract.
8 Shadlock St. Markham, ON L3S 3K9   O:905-471-0002

 

 

 

© 2010- Jas Jagpal, 

 

Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos, Toronto Real Estate: www.JasJagpal.com

Thinking of Selling a House or a Condo - Don't pay 5% or 4% commissions.   
FLAT FEE MLS listings is the way to go: www.SELLFOR999.com

 

Posted on: www.1stoprealestate.ca : www.LinkToMorningside.com: www.MarkhamBoxgrove.com

 

 

 

 

  Bookmark & Share

 

Posted via email from Markham Boxgrove Real Estate Blog

What YOU should not do after BUYING a House or Condo!

I was talking to a fellow Realtor in my mastermind group and once again a Buyer almost jeopardized their deal from closing.

What happened?

Here goes.  A Buyer was pre-approved for a Mortgage with a bank and was CMHC insured.  Everything is good and dandy!  The Realtor advised the Buyer "Not" to purchase anything significant and take on more debt.  The Buyer understood this.

This is where we as Realtors have to be EXPLICIT in our instructions to our Buyers.

What happened next is that the Buyer went to a department store and bought furniture.  The furniture purchased was one of those "Don't pay a dime until..." deals.

Anyways, the department store also offered the Buyer a credit card.  The Buyer accepted and got a credit card with a 10K limit.  The Buyer correctly thought they were not taking on any debt as they didn't have to pay for a long time and thought having another credit card wouldn't hurt.

But a week or so later the Buyer is informed that his home purchase will no longer be insured and the bank refuses to offer the loan.

Why did this happen?

By accepting a credit card (even if you don't use it), you have in effect taken out a "line of credit" - or debt.  In addition, this automatically lowers your FICO credit score.

Why is this a PROBLEM? 

You see... when you qualify for a Mortgage... the amount you qualify for depends on 1. Credit Score  2. Your Income  3. Your Debt 

So if you qualified originally for $200,000.  By accepting another credit card which effectively reduced your credit score you no longer qualify for $200,000 but maybe it is now $190,000.  In order for the deal to close you now have to make up the difference in cash!  Most people can't!  

So you see one lapse of judgement, or simply not knowing how mortgage qualification works; is the difference between you happily moving into your dream home or losing thousands you gave as a deposit.

Fortunately in this situation the Buyer found out more than a month in advance.  The Buyer cancelled the order.  Cancelled the Credit Card.  It takes a month for it to show up on the bureau and affect the credit score and hopefully the Buyer will be able to rectify the problem and get the funds they need to close on the deal.

So folks... what should you not do until you have literally CLOSED on your deal.

1.  NEVER BUY ANYTHING unless you use CASH.
2.  Don't accept ANY CREDIT... credit card, line of credit, etc.  that can affect your credit score and what you are qualified to borrow.

Have a question?  E-mail jas and he'll blog it if its a good one.

Jas Jagpal,BSc. York University Sales Representative
E: jasjagpal@rogers.com Cell: 647-272-6629  W: www.JasJagpal.com

--------------------------------------------------------------------------------
“Different commission rates, fees and listing and marketing services may be offered by other RE/MAX Franchisees and Sales Associates in Canada.” 
Remax Dynasty Realty Inc. Brokerage  Independently Owned and Operated.  Not Intended To Solicit Buyers / Sellers under contract. 
8 Shadlock St. Markham, ON L3S 3K9   O:905-471-0002

 

© 2010- Jas Jagpal, 

Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos, Toronto Real Estate: www.JasJagpal.com

 Thinking of Selling a House or a Condo - Don't pay 5% or 4% commissions.   
FLAT FEE MLS listings is the way to go: www.SELLFOR999.com

Posted on: www.1stoprealestate.ca : www.LinkToMorningside.com: www.MarkhamBoxgrove.com

  Bookmark & Share

 

 

 

 

Posted via email from Markham Boxgrove Real Estate Blog

Could the Realtor be the PROBLEM?

Posted on www.Zoocasa.com

Question:

Do we need to drop our price again, or could the Realtor be the problem? My home has been on the market for six weeks and not one showing. The broker did an open house after I asked him about holding one. He never initiates updates and after four weeks on the market he said we should drop the price. We did drop the price but have not gotten any interest. Do we need to drop our price again, or could the Realtor be the problem?
Frazer (3 months ago) - Chaplin Estates, ON

Jas's Answer:

Frazer, you are in a prime location... Yonge and Eglinton. So we can most likely remove location as the barrier unless of course you are on a street that isn't "prime".

Frazer, most home owners don't know this but "Realtors do not determine the price your house sells for but they do determine what homes are shown to their Buyers". The over all market conditions determine the price.

The market is slower than it was back in the spring and prices have fallen. For example a house worth $500,000 in April would most likely be going for around $475 or less. So if you are looking to get what your neighbors received in April, I'm sorry but that is next to impossible. Multiple offers are far and few today.

From you question I'd say the biggest factor that you are NOT getting any "showings" has to be that your listing is over priced. As an agent, I would have never taken your listing if that was the case. What happens with over priced listings is that Agents will use it to sell other homes that are priced right. Your home is becomes a tool to sell your neighbors.

If the house is priced right and is in a nice location you will get the greatest traffic in the first 3 weeks. If it also SHOWS well, then you are highly likely to receive an offer and be sold within a month. But not to see any traffic is rare and clearly points to an overpriced listing. Over priced listings will linger indefinitely and either expire or terminate through mutual consent between home owner and the listing brokerage.

Unfortunately, most home owners will start making price reductions after the fact and statistically get less for their home than if they had originally priced it right.

I'd recommend talking to your agent and pricing it right to sell as soon as you can but if you can't trust him and have no communication with him, it doesn't seem your "agency" relationship is working for you.

I think you know what you need to do. Be brave and do it before your listing becomes stale and you lose a boat load of money.

Have a question?  E-mail jas and he'll blog it if its a good one.

Jas Jagpal,BSc. York University Sales Representative
E: jasjagpal@rogers.com Cell: 647-272-6629  W: www.JasJagpal.com

--------------------------------------------------------------------------------
“Different commission rates, fees and listing and marketing services may be offered by other RE/MAX Franchisees and Sales Associates in Canada.” 
Remax Dynasty Realty Inc. Brokerage  Independently Owned and Operated.  Not Intended To Solicit Buyers / Sellers under contract.
8 Shadlock St. Markham, ON L3S 3K9   O:905-471-0002

 

 

 

© 2010- Jas Jagpal, 

 

Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos, Toronto Real Estate: www.JasJagpal.com

Thinking of Selling a House or a Condo - Don't pay 5% or 4% commissions.   
FLAT FEE MLS listings is the way to go: www.SELLFOR999.com

 

Posted on: www.1stoprealestate.ca : www.LinkToMorningside.com: www.MarkhamBoxgrove.com

 

 

 

 

  Bookmark & Share

 

Posted via email from Markham Boxgrove Real Estate Blog