Is there a perfect time to buy or sell your house?

It’s one of the questions realtors are asked the most: is there a perfect time of year to buy or sell a house?

The fact is, contrary to popular belief, there is no particular season that’s ideal for selling or buying a home.

Some people believe that summer and winter are the best time to look for a new home, because they think fewer people will be “house shopping” at the same time. After all, many would-be buyers will be on vacation in summer, and then reluctant to go out “house hunting” in winter.

However, while demand for real estate is lower in summer and winter (and you may have to compete with fewer bidders), there are also fewer homes on the market to begin with. That in turn means that you’ll get to look at fewer potential houses or condos. Your chances of finding your “dream home” in winter and summer is therefore far lower than in other times of year.

How a realtor can help find the home that’s best for you

Today, many would-be home buyers underestimate how important it is to work with a realtor. The average consumer can now access resources like online MLS real estate listings on their own, and they may think they don’t need a realtor to help them find the home of their dreams.

However, professional realtors still play a very important role in the home buying process, especially for first time home buyers. They can offer you the kind of guidance you simply can’t find on the internet.

It’s not uncommon for would-be home owners to have a list of all the features they’re looking for in their “dream home,” and also have a fixed idea about exactly where they’d like to live. In addition, buying a home can be a stressful, emotional time.

For all those reasons, it can be hard for a home buyer to be objective and open to all their options.

That is where a realtor comes in…

Should you rent or buy in today’s Ontario real estate market?

Experts in personal finance don’t agree on the subject of renting vs buying your home.

Some say that renting for as long as possible is a good idea, because you avoid losing money when your home’s value goes down.

On the other hand, others argue that if you’re renting an apartment or house, all you are doing is flushing your money down the drain every month. The landlord is getting all your money, and you aren’t building up equity in a permanent investment of your own.

As well, your landlord could suddenly sell your apartment right out from under you, at any time, putting you in an unpredictable situation.

That said, buying a home is a serious long term investment. Historically, homes have increased in value in the long run. Just because you may have negative equity for a while during a local real estate slump, that doesn’t mean that your investment isn’t sound. It just means you need to wait it out for longer before you sell. If you weren’t planning on selling in the near future anyway, these fluctuations don’t really affect you.

How to make the most of your first time home buyer rebates and tax credits

Let’s say you’re just about to buy your first house in the Ontario, Canada real estate market.

Keep in mind that various government programs are available that are targeted to first time buyers.

These government programs offer tax credits and tax rebates that can make a big difference in your ability to afford that first time home.

After all, buying a home will probably be the biggest investment you will ever make. It can make a big difference to your financial situation if you and your bank account can count on getting a bit of a “break.”

Canadian government programs for first time home buyers include:

• First Time Home Buyers’ Tax Credit
• CMHC Purchase Plus Improvements Program
• RRSP Home Buyers’ Plan
• Five Per Cent Down Payment Program
• HST New Housing Rebate
• Land Transfer Tax Rebates

CLICK HERE to learn more about these real estate rebate and tax credit programs and find out if you qualify.

Speaking of “rebates,” remember:

When you buy or sell your home with one of our Certified Sears Real Estate Agents, you get back 0.6% of your home’s value in FREE Sears Gift Cards!

For instance, if you buy or sell a $250,000 home, you would get $1500 back in Sears Gift Cards.

You could even use your Sears Gift Cards to pay for Sears Installed Home Improvement services: bathroom and kitchen renovations, carpet installation or cleaning, roofing, replacement windows and much more.

Between government rebates and tax credits, and the deal you get using Certified Sears Real Estate Agents, becoming a first time home buyer is now more affordable than ever!

CLICK HERE to learn how to buy and sell your home with one of our Certified Sears Real Estate Agents and get back 0.6% in FREE Sears Gifts Cards.

Top 8 house-hunting mistakes to avoid

Amy Fontinelle at Investopedia.com has written an excellent house hunting guide, covering the most common mistakes made by home buyers. Anyone thinking of buying a condo or house in the Ontario, Canada real estate market will find these tips extremely helpful.

Here are Fontinell’s top 8 house hunting mistakes:

1. Falling in love with a house you can’t afford
2. Thinking that a particular house is the only one that will suit you
3. Being so desperate to become a homeowner that you buy a place that doesn’t suit you
4. Overlooking important flaws in the structure, appearance or location of the house
5. Thinking you’re a handyman when you’re not
6. Putting in an offer before carefully considering all the pros and cons of the property
7. Being too slow to pull the trigger
8. Offering more than a house is worth

Be an educated consumer. Get as much advice and information as you can when “shopping” for your first (or second, or third…) house or condo.

And remember: when you buy or sell your home with one of our Sears Certified Agents, you’ll get 0.6% back in FREE Sears Gift Cards.

CLICK HERE for more information about this amazing rebate reward program.

Buyer representation agreements: why you should sign one

In all important transactions and agreements, we depend on written contracts to make things fair, to protect us from questionable practices and to ensure certain conditions are met by everyone involved.

However, sometimes contracts are intentionally written to be confusing. “Fine print” can sometimes be used as a weapon against those who don’t read their contracts thoroughly. For all these reasons, the average person is easily intimidated by contracts.

In real estate, there is a very important document which many people are reluctant to sign, called a buyer representation agreement.

However, unlike many contracts we’re forced to deal with, the buyer representation agreement is NOT one of those documents written to work against you.

In fact, it is designed first and foremost to protect both the buyer and realtor.

The Impact of HST on Ontario and BC Real Estate Market

With the switch from our current system to the new HST system looming ahead in BC and Ontario, many are wondering what the effect on real estate markets and real estate costs will be.   Typically, the media and other doom-sayers exaggerate the HST as a way the government will squeeze tens of thousands of dollars more out of us when buying a home, but the situation isn’t as bad as some make it out to be.

First off, the HST only applies to new homes. Resale homes are exempt and
will remain the same as they’ve always been. However, this does not mean
that all buyers of new homes are going to be hit hard.

Buyers of new homes under $400,000 are entitled to a rebate of 6% of the
home’s final selling value, which means that they are affected much less by
the HST than those who are buying homes over that $400,000 mark. Before the
HST switch, any new homes, regardless of price, were exempt from the 8% PST.
Under HST, this 8% exists as part of a single 13% tax. Considering this,
even with the 6% rebate that is being offered under HST, one still pays out
2% more in taxes than one did before (certainly preferable, but still an
increase).

Why are housing prices on the rise in the GTA?

For those of you keeping up with housing prices in the GTA’s real estate market, you may have come across an article in the Globe and Mail recently about the steady climb in both high-rise condo and low-rise house prices, and the reason for this.

Interestingly enough, the two kinds of housing rose in price for two dramatically different reasons. Sales for high-rise condos were topping the numbers for the last five years, while sales for low-rise houses were the lowest in five years. One thing to consider, however, is that the amount of unsold low-rise houses for sale was one-third of what it usually was.

According to the rules of supply and demand, both these circumstances drive prices up. On one hand, having a huge demand for high-rise condos gave their price a nice boost, and on the other hand, having a low supply for low-rise houses drove their prices up through competition.  Understanding the basic laws of supply and demand obviously comes in handy for anyone hoping to understand trends in real estate.

The interesting second side to this story lies in the reasons why there is such a low supply of unsold low-rise houses.  As explained in the Globe and Mail article, experts say that builders are not investing in low-rise projects as much in order to keep up with what municipal governments want – high population density. High-rise projects are given top priority, and with the huge amounts of money at stake in a building project, it’s no wonder developers are sticking to what they know will be successful.

You can read the full article at: http://www.theglobeandmail.com/real-estate/slowdown-of-2008-is-hitting-home-now/article1489495/

Sears Certified Real Estate Facebook Fan Page

Sears Certified Real Estate Services is proud to announce a further extension into Social Media – we have entered the realm of Facebook with our own fan page!

This fan page will be linked to our blog, so for all that use Facebook, becoming a fan will help you keep track of our posts easily.

Also, for those who have used our program and earned rewards, you can post comments and feedback on the fan page’s wall for other potential users.

We love helping home buyers and sellers find local real estate professionals and earning a reward for using our referral program.  There is no better way to communicate the benefits our program than through the testimonial of satisfied customers.

Being on our fan list will also make us visible to your friends and family, which can help them find out about what we offer and bring them great savings in the event they want to buy or sell a home.

So please visit us at http://www.facebook.com/SearsRealEstate and link us via the “like” feature to your Facebook page.

Getting married soon – looking for a new home?

A message to the newly engaged:
 
Congratulations! Getting married is the biggest step in your life. And buying a home is your biggest financial step. And although we can’t help you with the marriage, we can help you with home purchase. We are excited to tell you about the Sears Certified Real Estate Services program and show you how you can earn thousands to spend at Sears Canada.
 
We know that you have so much to worry about with the upcoming big day. And one of the biggest decisions you may have is whether or not to go on a honeymoon or use that money for a down payment on a new home. Why not both? That’s right, if you use one of our Sears certified agents for your home purchase, you can earn back .6% of the transaction in a loaded Sears Gift Card. And yes, you can use the card with Sears Vacations. So why not get your home and your honeymoon. How’s that for a great start to marriage?
 
And you don’t have to be getting married to participate in our program. So tell your friends and family. Now that you’re moving out of the house, maybe it is time for your parents to get new place of their own and go on their ‘second honeymoon.’
 
Check out searsrealestate.ca for more info.