Agentforme.ca : The Real Estate Blog

Information about Mortgage Insurance

agentforme — Thu, 19 Mar 2009 20:18:44 +0000

This guest blog has been created by Ontario disability lawyer Mark Yazdani. For further information about disability law, visit www.disabledlaw.ca.

Mortgage insurance is designed to protect homeowners in the event that they suffer a disability and become unable to work. The policy provides for payment of a non-taxable monthly benefit (usually an amount equal to your monthly mortgage payment) for a fixed period of time. Most mortgage insurance policies also include a life insurance element as well that pays off the outstanding mortgage in the event of death. Other policies may include a critical illness component.

For most insurance companies, there is minimal initial underwriting of these policies. There are usually only 1 to 3 health questions which must be answered regarding any known health problems or missed time off work. If an applicant does have current health problems, he or she may be required to undergo a health examination before qualifying for the policy. Some lower value policies are automatically granted without the applicant needing to answer any health questions. (more…)

Most Expensive Home in Canada is Sold

agentforme — Fri, 09 Nov 2007 21:35:30 +0000

The Globe & Mail published an article by Carolyn Leitch reporting on the sale of an Oakville, Ontario mansion that was listed in May 2006 for a whopping 46 million dollars!

To read the article, click “Listed at $45-million, mansion finds a buyer”

Spotlight on Vancouver

agentforme — Sun, 28 Oct 2007 16:57:38 +0000

International Tribune Herald writer Linda Baker wrote a feature article on Canada’s “most espensive housing market” - Vancouver. An excerpt:

“It is not hard to understand why the city is so appealing: Vancouver has been described as Canada’s version of San Francisco. It has a cosmopolitan feel, yet it is surrounded by mountains and water. The temperate climate attracts retirees, while the vibrant urban lifestyle draws young singles. The economy, supported by forest products, mining and an active film industry, is also growing, thanks in part to the development associated with the city’s serving as host to the 2010 winter Olympic Games.”

To read the article click ARTICLE

The Surprisingly affordable Las Vegas Housing Market

agentforme — Tue, 09 Oct 2007 00:00:49 +0000

The Las Vegas Review-Journal published an interesting article about housing prices in the exciting “City of Lights”. According to the 2007 Home Price Comparison Index by Coldwell Banker, Las Vegas is one of the more affordable US cities.

To read the article, click ARTICLE

Table of Toronto neigbourhood house price increases

agentforme — Fri, 05 Oct 2007 20:19:56 +0000

The Globe & Mail published a useful table yesterday that tracks the rise of house prices for specific neighbourhoods in Toronto. The table tacks the price increase between 2002 anad 2007. The increase from year to year is astounding.

To check out the table and compare your neighbourhood, The table can be found at “Sales and prices continue their record-setting climb”

Saskatoon Leading Property Value Surge

agentforme — Sat, 29 Sep 2007 21:26:53 +0000

According to the Saskatoon StarPhoenix, housing prices have rocketed up by 50 per cent in Saskatoon and owners of two-storeys have been able to command $323,750 on average for their houses during the past three months, a rise of 62.2 %.

Condominium prices rose at a whopping 75 per cent year-over-year rise as resale condos in Saskatoon are now averaging $207,500 a unit.

Click here to read Murray Lyons’ full article: “Saskatoon’s rise in real estate leads the nation”

Is Canada Immune to Housing Bubble?

agentforme — Sat, 29 Sep 2007 21:17:16 +0000

Montreal Gazette writer Jay Bryan’s article warns that if housing prices accross Canada continue to skyrocket past the rate of income gains in Canada, the danger of a housing bubble birst exists.

Click here to read the article: “We’re not immune to housing bubble”

U.S. Real Estate Agent Referral Services Going Strong

agentforme — Sun, 23 Sep 2007 19:54:56 +0000

Sarah Max of CNNMoney.com wrote the following 2004 article on real estate agent referral services in the United States:

LOGGING ON FOR A DREAM AGENT

Three years later all the referral websites profiled in the article are still going strong. With what some have called the “over-saturation” of real estate agents working in Canada’s major cities, an unbiased free referral service like www.AgentForMe.ca can help you find a local real estate agent with a proven track record of success. As U.S. home owners/buyers have discovered, a referral service can be a valuable tool to finding the best agent in your area.

Five Keys to Selecting the Right Real Estate Agent

agentforme — Mon, 17 Sep 2007 20:41:20 +0000

Here are five important keys to consider when selecting a local real estate agent:

Experience
Select a real estate agent who has significant experience in the industry and who has expertise in the neighbourhood and the type of property you are interested in. After all, you do not want an agent who is learning on the job!

Reputation
Select an agent with an excellent reputation and one who is recognized by peers as a leading agent in the community.

Success
Select an agent who has a proven track record of success in the industry. Look for agents who have won awards and been recognized by independent real estate organizations.

Service
Select an agent that excels in providing top-notch service to clients. At a minimum you deserve a professional who returns your phone calls promptly, is attentive to your concerns, and keeps you regularly updated. (more…)

Don’t Fall Victim to “Phantom Offers”

agentforme — Mon, 17 Sep 2007 00:58:14 +0000

The Toronto Star recently ran an article on the prevalence of “phantom offers” in the bidding process. Unethical seller’s agents can create a manufactured bidding war by convincing a prospective buyer that another offer has come in. In reality, no other offer has come in and the seller’s real estate agent is simply trying to get the buyer to panic and raise the original offer.

Don’t fall for it.

The problem, of course, is how to detect when a seller’s agent is making up an offer. One tip is to consider the timing of the new offer. If the seller’s agent tells you there is a new offer immediatly after you have communicated your final offer, that may be cause for suspicion. (more…)