What you can do to improve your bottom line while your home is being shown to a prospective buyer.

This page shows you what you can do to improve your bottom line while your home is being shown to a prospective buyer.
How to Help Agents when they are Showing Your Home
Let the agent sell your home. It is usually much better if you are not there during the showing, the prospective buyers can talk openly with the agent, who is well versed in handling objections and calming nerves.

Children, pets and adults can keep buyers from feeling at ease while they look through a home. For showings, please be out of the house if possible.

Turn off the television and stereo, even background music can be distracting.


Turn on all lights for the entire showing. Open drapes in the daytime, close them at night.

Strong cooking or smoking odors can ruin a sale. Make sure your home is fresh for showings. Create pleasant aromas by opening windows, putting out fresh flowers, or baking bread or cookies a bit before the showing.

Have a lock box installed and leave your home in "ready to show condition" whenever possible.

Use an answering machine or another message system available so messages can be left regarding appointments.

Make sure that the feature sheets of your home are left in a conspicuous place. If your supply is getting low, let me know and I will drop some more off.

Remove and replace major items not included in the sale if you feel this is necessary - you don't have to remove small things - e.g.: dining room chandelier or the occasional window covering

Often it is difficult for Agents to schedule appointments precisely. Expect Agents one half hour either way of the scheduled appointment time.

If your for sale sign is vandalized or dislodges, please let me know right away and I will have it corrected.

Be sure to put valuables away. Although theft problems are extremely rare, you are always better safe than sorry.

Of course, there are " Mark's 5 WRITTEN Guarantees " just in case you are not convinced yet that Mark is the right Agent for you!

Here is the complete list of 79 ideas and suggestions to get you more money when you sell with more tips on what to do before and during a showing :-)

Real Estate Glossary of Terms and Definitions

You will find some common and not so common terms used in real estate in Ontario, Canada and in the United States. I hope you find this useful. If you have any questions or require further information, please email me.


Real Estate in Mississauga Complete Real Estate Glossary at my website

Public Open houses on my listings this Saturday and Sunday

You may see that I am having 5 open houses this weekend on Saturday and Sunday. Please follow these linkgs to see the Public Open Houses on my listings this weekend - Saturday & Sunday December 10th and 11th, see them all here or MississaugaProperties.com quick list here

What is the Importance of a home inspection?

A home inspection prior to purchasing a home or condominium can bring peace of mind when you sign the sales contract. Knowing what to expect both inside and out will help you make an informed decision about the value of the home and the future upkeep.

A home inspection accomplishes two important goals. First, it gives you a chance to determine the condition of the house, its structural soundness, and the condition of its mechanical systems. Second, it brings any problems to the seller's attention at a time when they can be resolved before closing a sale.

If you sign a contract before inspection, consider including a clause that the sale is conditional upon a satisfactory structural inspection, and specify when the inspection is to be carried out. That way, you are protected.

What do they do?
A comprehensive inspection includes a visual examination of the structure from top to bottom, including the heating, air conditioning systems, the interior plumbing and electrical systems, the roof and visible insulation, walls, ceilings, floors, windows and doors, the foundation, basement and visible structure.

Following the examination, the inspector will provide a report that not only points out possible defects or areas of concerns, but also the positive aspects of the structure as well as the type of maintenance that will be necessary to keep the home in good shape.

Even the most experienced homeowners lack the knowledge and expertise of a professional inspection firm. For example, watermarks in the basement may indicate a chronic seepage problem, or simply may be a result of a single incident.

A professional assessment will provide complete information about the condition of the property you are considering and will help avoid any unpleasant surprises after the sale. In addition, a home inspector can remain totally objective, while you as a prospective home buyer may be emotionally involved.

Fees
The inspection fee for a typical single-family house can vary depending upon the geographic area. The particular features of the home such as size, age and special structures will be taken into consideration. A decision to have a home inspected is a good investment. You might save many times the cost of inspection by being aware of defects, maintenance requirements, and upgrading requirements. In our area home inspection fees are approximately $300 and up, plus GST, of course.

Good decorating should not sell you on a house. Remember, you're also buying structural and mechanical systems. Walk through a house twice before you hire an inspector. The first time, look at the rooms, the floor plan, and envision your own decorating ideas for the house. The second time, go back and look at the condition of the walls, doors, appliance, and plumbing. If the home still looks good after two visits and you're getting serious about the purchase, hire an inspector.

Inspectors should be licensed in building-related fields; architects, contractors, and structural engineers are good examples. When interviewing a potential home inspection firm, carefully inquire about the specifics of their work and company. Ask how long they have been in business, ask for references from previous customers. Find out what type of insurance they carry and do they guarantee inspections?

What will I get?
A home inspection usually lasts about three hours. Professional inspection companies will be happy to answer all your questions. Avoid firms that issue only a verbal report. The report should be in narrative form, not just a checklist of items inspected. The home inspector should also issue a written report with accurate cost estimates for any major defects discovered during the inspection. You may find it valuable to accompany the inspector as he goes through the house.

Property inspections are not limited to residential properties. Many inspectors help homeowners with analysis and solutions to specific problems such as energy conservation, wet basements or cracked foundations. Inspectors also inspect work upon completion to ensure that a contract has been properly fulfilled.

Conclusion
If you are considering purchasing a home, the Ontario Real Estate Association (and Mark) advises that you invest in an inspection by a reputable and qualified inspection firm. Buying a home is one of the biggest decisions you will make. Know what you are buying and what your future upkeep obligations will be.
Read more about home inspectors at my website

Five properties all on open house today in Mississauga

I am having 5 open houses on 5 of my listings this weekend on Sunday December 4th from 2-4 pm, see them all here
Thank you and have a nice day!
Mark

Should I buy a Resale Home or New Home from the builder?

It can be a difficult decision whether to purchase a resale home or a new home from a builder.

Although new homes typically have a higher sales price than comparable existing homes, buyers are willing to spend more up-front with an understanding that part of what they are paying for is assured low maintenance costs. A builder's warranty, along with brand-new roof, appliances, furnace, and other operating systems that make major repairs unnecessary, work together to counteract possible slower appreciation initially.

Buying New Versus Resale
In today's highly competitive market there is a vast array of choices to be made when deciding on the type of dwelling you wish to reside in. Below is a comparison of the advantages and disadvantages of buying a new home versus a resale home.

Advantages of a New Home
One of the primary advantages of buying a new home is the ability to decorate your home from the beginning exactly the way you want.

You can pick all the colors, which range from paint to carpet. You can also make the tile and cabinetry selection for the kitchen and bathrooms.

Often, new homes will have more modern conveniences, better insulation and can be more energy efficient.

Disadvantages of a New Home
Unfortunately, with a new home purchase you should be prepared for the on-going construction you will find around you. Chances are that your grass and lawn will not be in, your driveway will be gravel and your street will turn into a sea of mud whenever it rains or snows. If things are going to go wrong with a newly constructed house, they will appear in the first one to two years. As the house settles you may find cracks appearing in the walls of the basement, especially near any windows in the basement, make sure you get them fixed right away. Also, you should not finish your basement in a new home for at least a couple of years, just in case cracks and leaks develop.

There are additional expenses associated with new homes that you will not typically find in a resale home. For example, you may have to spend additional money for appliances, curtains, drapes, central vacuum, humidifiers, decks, fencing, electric garage door openers, finishing the basement, walkways, outdoor lighting, indoor light fixtures, trees, shrubs, gardens and landscaping, children's play sets, swimming pool, air conditioning, etc.

Closing costs are typically higher for new homes. The purchaser will pay for such additional costs as the New Home Warranty Program, tree planting, utility hook ups and paving of the driveway.

Usually, when you buy a new home, you don't have an opportunity to see the actual layout. All that is provided is a blueprint and in many cases the end product may be a disappointment to the purchaser because of changes that the builder or sub-contractor does not follow or does themselves. Additionally, there is the uncertainty as to who will be your neighbours.

Advantages of a Resale Home
The major advantage of buying a resale home is that you are moving into an established neighborhood. Your lawn is green, your shrubs are growing, your driveway is paved and your trees are well enough established to give your street a feeling of permanence. Often, most extras are already present, such as appliances, curtains, drapes, central vacuum, humidifiers, decks, fencing, electric garage door openers, finishing the basement, walkways, outdoor lighting, indoor light fixtures, trees, shrubs, gardens and landscaping, children's play sets, swimming pool, air conditioning, etc.

Read the Entire Article at my website at this link

In summary, a resale home can cost less, be more conveniently located, you know the area and amenities and have less risk involved. A new home can be constructed to have the exact style and features you desire, but usually with much higher costs, limited locations, and more risk.


Conclusion
In today's market place both new and resale homes are selling briskly. Once you've evaluated the pros and cons of each alternative, you can make an intelligent, educated decision as to which option is best suited for your particular needs.


Ultimately, the decision should be based on your needs and wants, your family and/or children, your tolerance for risk and the unknown and ultimately your budget.


Read more about buying new or resale

Read the Entire Article at my website at this link

When is the best time of year to purchase my home?

When is the best time of year to purchase my home?
The best time of year to make your purchase is dependant upon many factors, including your personal situation, the local real estate market conditions and the general state of the economy. My experience says that the best time to purchase your home 'was yesterday' and I'm not kidding. You must get into the market as soon as you can, mainly to begin reducing your mortgage rather than paying your landlord which in turn increases your equity and allows you to move up to a larger home within a few shorts years. This is one of the secrets to real estate.
You may see a very interesting and regular pattern of price changes in the marketplace and this will give you an idea of the market peaks and valleys during the year.

Detailed description and names & addresses of some of the highrise Condominium Buildings in Mississauga

This page and the page at the link below will show you pictures and give a detailed description of the names and addresses of some of the highrise Condominium Buildings in Mississauga

If you are looking to purchase a condo anywhere in Mississauga and you want me to send you active (or sold) listings in a particular building(s), please go to this link and I will send you all the current condos for sale in a particular building.  I can send you sold properties too, all you have to do is ask.  Your choice!

Do you want information on a condo building in Mississauga?  Click here and I will send you listings for any condo building in Mississauga

Can you show me a detailed description with photos of some of the Condo Buildings in Mississauga?

What is the difference between Tax Assessment and Property Taxes and the Mill Rate?

Purchasing a House: Property Taxes, Assessment & Market Value
Property Taxes are a lien on the land and as such are a secured debt to the municipality. As is the case with every municipality of the Province of Ontario, assessment are based on the prior years' market value and are levied against the property owner. Property Taxes are determined by multiplying the tax rate by the assessed value of the property provided for by MPAC.

Tax Rate (formerly called a mill rate) is the factor which, when multiplied by a property's current value assessment, determines the amount of property taxes to be levied against that property. The tax rate is determined after City Council approves the budget, which includes the total amount it needs to raise from taxes. City Council determines the current year tax rate usually by April 30 of the current year.


House Value There are numerous ways to determine the value of a home. An evaluation is a skilled estimate of a property’s market value, in accordance with recent sales of analogous properties, location, square footage and construction class. This service varies in cost depending on the price of the home. A comparative market analysis is an informal estimate of market value performed by a real estate agent based on similar sales and property attributes. Most agents offer free analyses in the hopes of winning your business. You also can get a comparable sales report for a fee from private companies that specialize in real estate data or find comparable sales information available on various real estate Internet sites.

Peel Region Tax Rate and Property Tax Calculation

The tax rate in the Region of Peel consists of three components. There is an area municipality portion (City of Mississauga or City of Brampton or Town of Caledon), a Region of Peel portion, and an education portion. Each of these portions is related to the budgetary needs of the area municipality, the Region of Peel and the provincial decision on education funding requirements.

The tax rate is expressed as a percentage of a property's assessed value. A tax rate is set for each class of property.

The tax rate multiplied by the assessed value, results in the amount of property taxes payable for the year. For example, if the residential tax rate is 1.053507% and the assessed value is $292,500, the property taxes would be $3,081.50



Variation between market value and appraised value:

The estimated value of a house is a certified appraiser’s opinion of the worth of a home at a given point in time. Lenders require appraisals as part of the loan application process; charges may vastly as per the location, area, and vicinity of the property. Market value is what price the house will bring at a given point in time. A comparative market analysis is an informal estimate of market value, based on sales of comparable properties, performed by a real estate agent or broker. Either an appraisal or a comparative market analysis is the most accurate way to determine what your home is worth.

Standards for estimating a house’s value:

Appraisers use several factors when estimating a home’s value, including the home’s size and square footage, the condition of the home and neighborhood, comparable local sales, any pertinent historical information, sales performance and indices that for value, based on sales of comparable properties, performed by a real estate agent or broker. Either an appraisal or a comparative market analysis is the most accurate way to determine what your home is worth.

Standards for estimating a house’s value:

Appraisers use several factors when estimating a home’s value, including the home’s size and square footage, the condition of the home and neighborhood, comparable local sales, any pertinent historical information, sales performance and indices that forecast future value.

House Value:

A home ultimately is worth what someone will pay for it. Everything else is an estimate of value. To determine a property’s value, most people turn to either an appraisal or a comparative market analysis. An appraisal is a certified appraiser’s estimate of the value of a home at a given point in time. Appraisers consider square footage, construction quality, design, floor plan, neighborhood and availability of transportation, shopping and schools. Appraisers also take lot size, topography, view and landscaping into account. A comparative market analysis is a real estate broker’s or agent’s informal estimate of a home’s market value, based on sales of comparable homes in a neighborhood. Most agents will give you a comparative market analysis for free. You can do your own cost comparison by looking up recent sales of comparable properties in public records. These records are available at local recorder or assessor offices, through private real estate information companies or on the Internet.

(data provided from NewsGator Online)

Read more about Property taxes and assessments in Region of Peel

Back to FAQ's for Mississauga Real Estate

How to find the right home in Mississauga, Ontario

Looking for a home can be an intimidating task filled with many questions. What home do I buy and where? Who do I go to for help? And how do I know if I am making a good purchase?
There's no one "right way" to go about finding a home. But here are a few tips that may make the process a little easier and remove some of the anxiety associated with making what is, for most people, their largest single purchase in life.
The first thing to do is determine what type of home you want or need.

This would include the size, number of bedrooms, location and special features such as a garage, fireplace, fence, dishwasher, hot tub etc.
You'll also want to consider such things as proximity to schools, community centres and play and sports facilities, public transportation, hospitals, libraries and shopping areas and your workplace. These factors are important to you and your family.
Since your home is probably your single largest investment, you'll want it to be as attractive as possible to purchasers when you're ready to sell. So keep in mind the features you think will make it attractive to potential buyers in the years ahead.
Finding a real estate agent to handle your purchase is important. Talk to a few agents with different companies who know the area where you're looking to buy. A real estate professional can show you homes in your price range in the areas you like that meet your particular needs and budget.
With so many homes to choose from, how do you know if what you're going to buy is good value?
It's very important to inspect the structure and grounds of the home you're thinking of buying and look around the neighborhood to be sure it's an area where you want to live.
Get a copy of the land survey from the seller to check the boundaries of the property to make sure they are clear of encumbrances and walk around the property yourself to make sure there are no surprises.
You'll also want to tour the neighborhood and see the house at different times of the day or on weekends to check traffic patterns and noise levels that could affect your decision to buy.
When you find a home you like, inspect it yourself carefully for such things as structural defects, signs of water damage, lack of water pressure, faulty plumbing or inadequate wiring.
You may want to get an inspection done by a professional home inspector before you buy. A professional may uncover problems that you wouldn't notice.
A good inspector will check the house from the basement to the roof, including the heating and cooling systems, plumbing, walls, ceilings, insulation, electrical wiring, foundation, ventilation, doors and windows, and septic and sewer systems.
An inspector will determine if any repairs are necessary. If possible, plan to go along with the inspector during his inspection. You could pick up some valuable information that will help you in the future with the maintenance of your house. Your real estate agency can likely refer an inspector if you don't know of one yourself.
Some careful planning can help to ensure that you get a good-quality house that will meet the needs of you and your family in an area you like for a price you can afford without any nasty surprises after you take possession.
For more information on homeownership, please visit Genworth Financial Canada's website at www.genworth.ca.
- News Canada