Ask me anything about Real Estate

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We will be holding our first Buyers' Clinic in which we will be training our participants about how to purchase real estate.

From the first time buyers to buyers who have purchased multiple properties, we will be starting from the basics to reviewing contracts in details and doing case studies on how to tackle different problems that arise during the purchase.

The clinic is scheduled for October 25, 2008 and is open to you as our valued client. We ask that you kindly send an email with the following information to HelpMe@HeyAddy.com so we may allocate a seat for you. Seats are very limited so please don't delay.

Full Name
Day time phone number
Email address

You can also fill out the following form to register for the event. Please make sure you mention Buyers Clinic in the Contact Request Body/Subject

If you're on Facebook, you can see the event details by clicking here and RSVP through it too. Please also join our online community through our Facebook Group and Fan Page.

The contributing factor,



Addy Saeed,
Real Estate Sales Representative,
Re/max Active Realty Inc.

I'm never busy for Referrals! If you know of someone who would appreciate the level of service I provide, please call me with their name and business number and I will be happy to follow-up and take great care of them.
 
My father purchased a condo in Mississauga right next to Square 1.

With the economy being uncertain and housing prices look like they're going to dip should he be worried? It's set to be completed in 2009 and he has to live there for a year before selling.
 
Great thread Addy. Will review you website in more detail thoroughly.

Our agent attempted to sell our house in W23 for a detached linked at foundation. Neighbor sold at $290K 1 month prior to our listing. Starting price $299K which quickly dropped biweekly to our drop dead price of $279K. End all and be all, house is off the market due to a few factors. However, agent did not believe in open houses.

2 questions off the top of my head:
1) Do you believe in open houses and what other selling tactics to you employ to ensure a timely profitable sale?
2) Since your a gtamotorcycle member, does this mean we can ride to do showings? ;)
 
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In a market like this am I better off selling before purchasing, even if its a really nice house and they are offering a long closing, but wont sell with a condition to sell mine first?

Mines been on the MLS for 18 days now....
 
LiNK666 said:
My father purchased a condo in Mississauga right next to Square 1.

With the economy being uncertain and housing prices look like they're going to dip should he be worried? It's set to be completed in 2009 and he has to live there for a year before selling.
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Link...

You're dad's property is not coming on the market for another two years so I don't know what the right answer is. It's a tough question to which there are sooo many factors including the market.

We can review this once we're closer to the date and tell you exactly what you're father is up against...!
 
majik_feet said:
Great thread Addy. Will review you website in more detail thoroughly.

Our agent attempted to sell our house in W23 for a detached linked at foundation. Neighbor sold at $290K 1 month prior to our listing. Starting price $299K which quickly dropped biweekly to our drop dead price of $279K. End all and be all, house is off the market due to a few factors. However, agent did not believe in open houses.

2 questions off the top of my head:
1) Do you believe in open houses and what other selling tactics to you employ to ensure a timely profitable sale?
2) Since your a gtamotorcycle member, does this mean we can ride to do showings? ;)
Click to expand...

Open houses are a great tool to help buyers walk through the house and view it. In today's market, anything and everything that can help with selling a property is a good tool.

Selling a house in a down market is a lot tougher than in an up market. Basically, there are two reasons when it comes to properties not selling. One is Price and second is condition.

I do have a couple of questions:

Did you have your home staged?
When was a last time a property sold in your neighborhood? (current demand)
How many comparable listings active in your neighborhood? (competition)
What are the specific features that distinguish your home from all others?

A lot of buyers today are starting their search online so that's a vital part of my marketing. Another is REALTOR marketing including agent open houses which a lot of agents over look.

There's a whole program that I've compiled over the years that has helps me sell properties and we can review it if you'd like in detail.

In regards to showings on bikes, I don't ride on the street much anymore but maybe next summer but I've done it before and the sellers seem to enjoy it :D
 
roadtoruin said:
In a market like this am I better off selling before purchasing, even if its a really nice house and they are offering a long closing, but wont sell with a condition to sell mine first?

Mines been on the MLS for 18 days now....
Click to expand...

The underlying idea is that you want to ensure that you're protected and not cornered into making a decision you don't want to make.

You can do this either way...

You can go ahead and purchase a property and make the purchase conditional upon selling your property. This way, if you're not able to sell your property within the time period specified, you will be able to walk away from the sale

You can sell your property, request ample closing time, and go out and purchase a property. I personally like doing it this way because of two reasons:

1. Sellers usually don't like to see offers conditional on sale of buyer's property
2. You know exactly what you will get from the sale and can make better decision about what your budget is exactly.

Hope this helps...!
 
Thanks for the response, I've decided to wait until I've sold before I do anything.

What are your opinions on crime scene houses? specifically a suicide. Would you offer a deep discount? What are the legalities of disclosing that kind of information in ontario?

I'm asking because i found a bank sale house but some guy killed himself in the garage and the agent said he had to inform me.
 
roadtoruin said:
Thanks for the response, I've decided to wait until I've sold before I do anything.

What are your opinions on crime scene houses? specifically a suicide. Would you offer a deep discount? What are the legalities of disclosing that kind of information in ontario?

I'm asking because i found a bank sale house but some guy killed himself in the garage and the agent said he had to inform me.
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I haven't had that question before... Good question!

Basically, anything that effects the value of a property negatively needs to be disclosed i.e. someone committing a suicide or a crime committed at a property that would impact it negatively needs to be disclosed. Grow ops need to be disclosed as well because they can carry a health hazard to the new occupants.

I've seen deep discounts negotiated on properties like that. There is no issue with a property that can't be fixed with price hence if you're willing to purchase a property that is "stigmatized" then there should be a corresponding discount to off set the future effects that you might foresee.

One point to note is that we have to disclose all grow ops which has impacted the value of these properties and if legislation changes, might have to disclose all others as well. In that case, you would have a hard time selling such property!

Good question... Thank you :)
 
I want to view houses for sale in my desired areas on the computer, not having much luck with the internet searches. Is their a site to view all houses for sale in specific areas. Thanks.
 
m.breen said:
I want to view houses for sale in my desired areas on the computer, not having much luck with the internet searches. Is their a site to view all houses for sale in specific areas. Thanks.
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www.mls.ca Start searching using the map, then when in range, use other search features to more accurately narrow down your search. None of the sites will have Every one, this one is pretty well populated with ads.
 
m.breen said:
I want to view houses for sale in my desired areas on the computer, not having much luck with the internet searches. Is their a site to view all houses for sale in specific areas. Thanks.
Click to expand...

www.mls.ca has now been updated and changed to www.realtor.ca

You can view properties that are currently listed there as well you can check out my website @ www.HeyAddy.com to view all the properties as well.

If you want to setup a custom search on a particular neighborhood (down to the street address) just fill out this form and I can set that up for you too!

Hope this helps...
 
I am looking to purchase an empty land and build 3 houses is there anything I should be aware of like zoning if the city would let me build it or should I buy lets say complete 24 acres or buy one acre at a time? Do you have any lands for sale zoned for residential?
 
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K4GSXXXR said:
I am looking to purchase an empty land and build 3 houses is there anything I should be aware of like zoning if the city would let me build it or should I buy lets say complete 24 acres or buy one acre at a time? Do you have any lands for sale zoned for residential?
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That's a very loaded question!

It all depends on the land, what's it current use/zoning, where is it located, Are there any flood plans, can it be severed, etc etc etc...

I apologize but I can't even start to answer the question unless I see details of the land and what you're planning on doing with it.

You can PM me the details or call me and we can review what you're planning on doing.
 
TGIF and Happy New Year Bump...

Haven't been here in a while so thought I'd revive the thread...

Open for questions... Hope everyone's enjoying
 
here's a question:


If you win a house in say one of those Hospital lotteries, do you have to live in it for a year before you can sell it?
 
Since you bumped this thread, I thought I would ask you a question. I sold my condo a few months ago (August 08) and I currently rent. Where do you see the market heading (in the GTA) over the course of this year?

I have heard many different opinons: ie.

There is going to be a huge increase in listing coming in spring driving down the price

The market is going to level out and make some gains

The market is in free fall and its 1989 all over again etc...

I am looking for an honest point of view, and that you work in R/E your point of view is better then most. I am not looking at buying right this moment but will probely start sometime in the summer/fall. Just looking for some advice.
 
twinn said:
Since you bumped this thread, I thought I would ask you a question. I sold my condo a few months ago (August 08) and I currently rent. Where do you see the market heading (in the GTA) over the course of this year?

I have heard many different opinons: ie.

There is going to be a huge increase in listing coming in spring driving down the price

The market is going to level out and make some gains

The market is in free fall and its 1989 all over again etc...

I am looking for an honest point of view, and that you work in R/E your point of view is better then most. I am not looking at buying right this moment but will probely start sometime in the summer/fall. Just looking for some advice.
Click to expand...

The market is basically a state of mind of the consumer. The answer lies when consumer confidence will start returning. I've sold two properties in the past two months under a week (one sold in 7 days one in 3 days) and I have numerous listings right now and they are getting ample showings.

There are buyers in the marketplace who are looking at properties. The market is slower than last year but is still healthy with moderate drop in prices.

The stats show a drop in price ranging from 6 to 10.4% over sold prices last year. It's a significant enough drop for investors to take notice and that's most of the activity we are seeing right now.

In regards to what will happen... That's an opinion...

I don't foresee a drop like the 80/90s happening... Look at the condition US is in and how well we are doing... We learnt from the real estate bust in the 80/90 and changed our monetary policies to help us be stronger this time around.

The studies that have been conducted show a variance of anywhere from 3% to 10% further drop this year. Just two days ago another report was published that said that we will see the market getting a healthy jump start due to all the stimulation packages that are being introduced all around the world.

That's what I've heard... This is what my opinion is...

The market is HEALTHY at this time. We're in a balanced market where buyers have a lot of choice regarding what property to buy and sellers are adjusting their expectations and are realistic about conditions the buyers are including in their agreements. I see probably a drop 3% to 5% in prices and a steady number of transactions. I also expect to see a reduction in the number of listings that are currently active. We saw a reduction in number of listings in December which will be followed by a spike in spring and a drop again as (speculators) sellers that aren't able to sell their properties at their expected price will exit the market place.

Again, this is all dependant on how many buyers stay active in the market place. If we get a surge of buyers then we will see an increase in transactions or vice versa...

I hope I've answered your question in enough detail. Let me know if you have any further questions...
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