Instant price estimates for property. Is it impossible or possible?

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cma, comparative market analysis, Instant price estimates for property. Is it impossible or possible?, Market Evaluation, property

Instant price estimates for property. Is it impossible or possible?

 There are some online appraisal websites where if you click on the tab and enter an address it will ask a few questions and give you a value estimate. You are required re-read the cautions about the service as it does have some limitations. That being said, I have played with the tool, and it is not too scary as thought but if it is accurate? !!!

Some REALTORS do over the phone evaluations. And they claim to be exactly and precisely right. Although I will do them in certain areas that I am highly familiar with I always recommend allowing a proper market evaluation as some things you may not mention to the REALTOR may alter the value either up or down, and ultimately not seeing the property does not allow us to give you the best Market Value Evaluation. If you would like an instant price estimate look in your mail for a local & Licensed REALTOR who advertises over the phone market evaluations and call them. I however caution you that you would do yourself far better service to contact a reputable Licensed REALTOR and invite them to your home. Good Luck and have a great day.

I’ve been in the business for a time and never do estimates from my desk or home office. Sorry, I’m not Magician and a house can be from zero to a hero, I mean unpredictable on unseen. In essence, I do not offer “no service kind of service”. There is none in the world who can guess what your house is like, how much you have spent in upgrades over the home ownership period in comparison to your neighbour who still has green shag carpets from 1969 and war torn hardwood from dog nails etc. When you pay nothing, you generally get nothing. I will not sign an estimate if I do not have all the facts considered and reviewed personally.

If you do want a quick and very rough estimate of the value of your home, I would look to your assessed value for property tax purposes, the report you get every year from MPAC report. It will likely give you an idea if your property is worth $300,000 or $3 million. But if you want more insight then call a reputable realtor for a proper comparative market analysis (CMA). This analysis CMA will give you a better idea what your property would actually sell for in the current market conditions.

Many factors come into play for CMA – what is the overall real estate market like, what is the market like for your specific property, what condition is your property in and how does your property compare to similar homes currently listed right now, so it is called comparables. For example, if your neighbor with a fairly similar property accepts a low ball offer because he already bought the new home and he is anxious to sell this old one that is unfortunately going to affect the market value of your property. Most importantly this estimate is likely to be a range rather than a single number, like the estimate of price could be “from $410k to $430k”. Some properties are difficult to put an accurate price on and the sales price obtained could be within a large range. Other properties are in an area with many similar properties that have sold recently and are a little easier to put a price on within a fairly tight range agreeable to seller.

I spend a considerable amount of time on each comparative market evaluation that I do and I think my clients would agree that I provide useful information that would be difficult to obtain automatically or instantly. I think in this situation the phrase “If it is worth doing, it is worth doing right” is so true. I always research properties on-line and off-line before I actually visit the property to do a market evaluation. It is getting easier to find information online but there really is no substitute for seeing a property, its setting and comparable properties in person.

Hopefully the ‘instant’ Market Evaluation that you seek will not be used to determine the price to list your home. You can probably get one or two evaluations at no expense to you anyway from your local real estate brokerages. It may not be instant, but it will be customized for your unique home and not just made up ones & instead of based on last year’s statistics for all homes in the city.

I am sure you will agree with the personal talk we had thru this article, if you like to have your property evaluated you can contact me directly on cell and arrange appointment or contact me online to set an appointment of your property.

Email: vg_remax(AT)yahoo.ca , Direct: 647.267.6338, web: www.vijaygandhi.com

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Experienced and Savvy Investors Buy in December to March Winter Months

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Investors Buy in December to March Winter Months

Experienced and Savvy Investors Buy in December to March Winter Months

Why do a Large Number of Experienced and Savvy Investors Buy in December to March Winter Months?

For a few personal reasons, some people have no time limit (expiration of apartment lease, etc.)and so they really wait until they find something they love to do before purchasing like marrying, which can come at any time, including the snowy winter months as well.

Also, if a property has not sold over the busier season (spring and summer), owners as well as realtors tend to drop the asking price a little to attract more investors to the property. So sometimes, you can get a better deal on a property in the winter months as opposed to the months where the most investors are searching the housing market. Investors think that there is a possibility of better deal to be had….but, many times it is not so….you need right investor agent who can navigate thru this surfing and searching.
There is one good reason is that there are fewer sales and fewer investors in these months so some investors see that as a great time to get a deal. Some houses do not show up in the realtor search as it is in the batches on system for group of years like under 5yrs, under 10 years & so on, so those comes up as soon as the new year starts, also the possible search criteria also changed altogether.

If a seller has placed a conditional offer on a new home and theirs is still not sold by the winter, you may also have an easier time negotiating as they have deadlines to sell their home, so the Investor have an opportunity.

Each selling and purchasing decision is based on a variety of different motives. It’s often case by case and so does just like credit ratings its all depends on individuals.

Don’t be fooled though, some of the statistics I have seen have shown that December is also a good time to sell, and recent years you can verify mls.ca stats, winter months are not bad producing months as well, Because fewer inventories on the market mean less competition, and if investor is in need and do not want to wait despite realtor try to wait for new match property comes up in market. Sometimes good houses do not sell because the competition is fierce and even though they may be priced and war of price so hot, to-gather competitively, they fail to sell because if excess inventory levels. Over major portion of the houses listed in GTA last year in December sold. This made it the number: one month to sell if you want to have an edge on the market inventory if you think and plan properly and willing to take risk with good experience agent and with lots of ice over the head.

Some of my clients save up and buy this time of year. Most investors do not want to be bothered over the Christmas season but investors know that offers at this time of year are scarce at best. This is the time of year when those of us agents that represent investor investors are the busiest. Feel free to contact me if you wish to explore the investor market, there are a lot of great deals out there right now that my clients are snapping up! Would you like to wait or go depends on your choice.

Another good reason is that in winter months only serious sellers remain in the market just like serious investors and price the property accordingly well to sell and ready to make a deal before spring market competition starts. Negotiations take place well when both parties are motivated. An experienced Realtor can get you a great deal in winter.

Always hire the proper agent: www.vijaygandhi.com and save you a lot…

Scarborough RT to close between 2015 and 2019 | Scarborough TTC riders will be stuck with buses for 4 yrs.

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rapid transit, Scarborough RT, SRT, stc, TTC

Scarborough RT to close between 2015 and 2019 | Scarborough TTC riders will be stuck with buses for 4 yrs.

TTC ridership in parts of Scarborough is expected to plummet after the 2015 Pan American Games as the obsolete rapid-transit line is shut down for four years of construction, warns general manager Gary Webster.

Dozens of extra buses will be added to the route between Kennedy Station and Scarborough Town Centre while the updated light rail system is built, but Webster thinks people are likely to return to their cars until the LRT opens in 2019.

“We’re going to drive people away from transit, there’s no question,” he said, noting that a parallel bus service that’s operated for years alongside the SRT has never been embraced by riders.

Meanwhile, Webster said the full length of the Eglinton-Scarborough Crosstown LRT won’t be done until 2022, although Metrolinx maintains it can be finished by 2020 and is considering a public-private partnership to speed things up.

To any constituents who are angry they’ll be stuck with buses during that time, local Councillor Chin Lee says: Be careful what you vote for.

Lee said he had an understanding with former TTC chair Adam Giambrone that the planned Sheppard LRT should be complete before the SRT — which is on its last legs — was torn down.

“He agreed with me on that,” said Lee. “Unfortunately, the subway advocates were a very vocal group and the mayor listened to them.”

The Transit City plan, which included a Sheppard LRT linking with the SRT at its northern end, was cancelled in favour of the mayor’s subway vision. And the Eglinton light rail plan, connecting seamlessly at the southern end, was moved underground, which takes significantly longer to build.

“Just be careful what you ask for and think of all the implications, not only just the short term,” Lee said.

As he finished speaking to reporters, the mayor’s brother, Councillor Doug Ford, said: “I totally disagree with those comments, 100 per cent,” before returning to the budget committee meeting.

The SRT, with its cars resembling a mini subway train, opened in 1985 to much fanfare. Today, it moves up to 5,000 riders an hour at peak periods.

The TTC will put between 20 and 30 extra buses on the road to accommodate the closure, but it’s likely to take significantly longer to get from point A to point B on a bus.

Left-wing Councillor Gord Perks said the mayor has let down the people who elected him. “Scarborough voted for a transportation plan that was supposed to get them more. Now they’re finding out they’re going to get dramatically less,” he said.

source: http://www.metronews.ca/toronto/local/article/1043474–srt-to-close-between-2015-and-2019

comment
gtarealtyagent |6:23 PM | Dec 07, 2011

@ STC lots of condo get built as the commuter get way out from there to DT toronto, can you imagine…………no SRT means to them?, please discuss… Alert a moderator

please leave your concerns and comments here:

 

Berczy Square – Phase 3 – Grand Opening New Phase of 3 and 4 Bedroom Detached Homes are coming and we are registering it

Berczy Square – Phase 3 – Grand Opening

New Phase of 3 & 4 Bedroom Detached Homes are coming and we are registering it as form below towards the chance and opportunity to become new home owner soon and desired unit in the project..

it takes a very little time and + we guide you the process of home buying for no charge/fees to you…

simply register with us form below or e mail us vgandhi@remax.net or call direct (best option) and leave your details : full name, full address, phone numbers(day and evening)
and just email address to send more info. about the project updates….goodluck.

we do not represent builder directly

Full Name(required)

Email(required)

Full Address(required)

Phone Numbers(required)

Your Desired Unit/ Sq ft / location / etc.(required)

related links:

• http://www.markham.ca/markham/ccbs/indexfile/Agendas/2010/Development%20Services/pl100608/Upper%20Unionville.pdf

• http://en.wikipedia.org/wiki/Berczy_Village,_Ontario

Monthly Real Estate and Mortgage Stats Report

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Monthly Real Estate and Mortgage Stats Report

Bank of Canada Interest Rate

January 18, 2011	1.00 %
March 1, 2011	1.00 %
April 12, 2011	Next meeting date

Source: Bank of Canada

Bank Prime Lending Rate

January 19, 2011	3.00 %
March 2, 2011	3.00 %
April 13, 2011	Next meeting date

Source: Bank of Canada

Conventional Mortgage – 5 Year Rate*

February 9, 2011	5.44 %
February 23, 2011	5.44 %
March 28, 2011	5.34 %

Source: Bank of Canada
*Determinant for high ratio mortgage variable qualifying rate


US Federal Reserve Board Discount Rate

January 26, 2011	0.00 % – 0.25 %
March 15, 2011	0.00 % – 0.25 %
April 27, 2011	Next meeting date

Source: US Federal Reserve


Exchange Rate $CDN($US)

February 23, 2011	1.0115
March 16, 2011	1.0083
March 31, 2011	1.0314

Source: Bank of Canada


Government of Canada Bonds

Bond Type	February 23, 2011	March 16, 2011	March 30, 2011
1 year Treasury Bill	1.36 %	1.24 %	1.35 %
3 year Benchmark Bond Yield	2.15 %	1.87 %	2.13 %
5 year Benchmark Bond Yield	2.61 %	2.44 %	2.71 %
10 year Benchmark Bond Yield	3.32 %	3.13 %	3.29 %

Source: Bank of Canada


Total New Housing Starts (Seasonally adjusted and annualized)

Province	December 2010	December 2009	January 2011	January 2010	February 2011	February 2010
Newfoundland/Labrador	3,200	4,200	3,900	3,600	2,700	3,600
PEI	1,100	1,300	800	600	500	400
Nova Scotia	2,700	2,900	4,500	2,800	3,800	5,400
New Brunswick	3,100	3,600	3,500	5,200	1,800	2,400
Quebec	47,800	51,600	48,600	55,100	44,600	47,800
Ontario	46,400	56,300	51,500	55,500	65,800	70,100
Manitoba	6,500	3,400	3,900	5,100	4,700	4,900
Saskatchewan	7,500	4,500	6,200	6,400	8,800	4,600
Alberta	21,000	27,800	19,600	23,500	21,900	27,300
British Columbia	30,000	22,200	28,100	27,600	27,300	30,100
CANADA	169,300	177,800	170,600	185,400	181,900	196,600

Source: CMHC Housing Now – March 2011 and March 2010. This seasonally adjusted data goes through stages of revision at different times of the year.


Average MLS® Resale Price for Local Markets

City	February 2011	February 2010
Halifax	$ 261,638	$ 251,072
Saint John	$ 175,371	$ 168,735
Quebec	$ 244,326	$ 227,461
Montreal	$ 300,471	$ 287,151
Ottawa	$ 337,797	$ 318,894
Toronto	$ 454,470	$ 431,509
Hamilton/Burlington	$ 331,741	$ 314,656
Winnipeg	$ 228,180	$ 215,230
Saskatoon	$ 287,202	$ 291,054
Regina	$ 272,609	$ 263,753
Calgary	$ 400,879	$ 389,388
Edmonton	$ 311,674	$ 316,927
Vancouver	$ 791,604	$ 662,741
Victoria	$ 490,970	$ 481,246

Source: CREA

This blog communication is for public awareness and public responsibility, for client and customer benefit and best intrest in mind.

Vijay Gandhi is an Re/max Real Estate Sales Rep. &  independent mortgage planner- industry insider & CENTUM Agent. If you are purchasing, refinancing or renewing your mortgage, contact Vijay or apply for a Mortgage Check-up to obtain the best available rates and terms.

 

Have you considered a 50/50 Mortgage?

As always, if you have questions about the 50/50 mortgage product and whether it’s right for you, or other mortgage-related questions, I’m here to help!

Whether you are planning to buy-sell-lease-invest your first home or your investment, contact us today!We’d love to hear from you!
Please leave a detail message; I will get back to you soon as possible…

Thanks for visiting my web sites:

vijaygandhi.com , icxforsale.com & torontomortgagetrends.com

Mortgage Rates Are At Historical Lows. Easy OnLine Application. Apply And Get The Best Mortgage Rate!
*condition apply/sub. to availability

Vijay Gandhi,
Sales Representative- REALTOR^®
RE/MAX Dynasty Realty Inc. Brokerage*

Mortgage Agent – Lic.# M10001947
CENTUM Metrocap Mortgage Corp. Lic.#11074

C: 647-267-6338 (Direct-Leave message or text)
O: 416.335.4335 | 905.471.0002 (page me-Have me)
F: 905.471.7441
E-MAIL: vtgandhi@yahoo.com , vgandhi@remax.net
WEB:  www.vijaygandhi.com , www.icxforsale.com
BLOG: https://gtarealtyagent.wordpress.com/
“YOUR PERSONAL REAL ESTATE & MORTGAGE ADVISOR^® FOR LIFE”
Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!
The referral of your friends & family is the greatest compliment you can give me. Thank you for your trust.

Please, forward my name, phone number & e-mail address to your friends, relatives, clients…

Proposed condo rules could make it harder to buy- HURRY

Proposed condo rules could make it harder to buy

 

The federal government is considering new rules to make it harder to qualify for a loan to buy a condominium.

The new regulations would be part of Ottawa’s effort to toughen borrowing guidelines and tamper down Canadians’ debt.

The change would add 100 per cent of condo fees to the expenses considered when a buyer is applying for a mortgage. Currently, only 50 per cent of the fee is considered.

Toronto realtor Brad Lamb says the move is going to push a lot of people out of the market.

“A lot of people are going to get locked out of buying a condo, which, in most cities in Canada, is the most affordable option for housing,” he told CTV News. “It’s a terrible idea.”

The maximum length of a mortgage could also come down from 35 years to 30.

“You’re talking $150 to $200 more per month, which works out to $40,000 in purchase price,” Lamb said.

Craig Alexander with TD Bank says the new rules might not take people out of the market completely.

“It really wouldn’t take people out of the market. It would mean people would end up taking a lower mortgage and buying a lower-priced house,” he said.

Prime Minister Stephen Harper acknowledged the rumours of the new rules.

“The government remains concerned about growth and the level of household debt, and will look at taking prudent steps to moderate that growth,” he told reporters. “We’ve seen some moderation recently.”

There is also speculation the government might increase the minimum downpayment required. Currently it is five per cent.

source-http://www.ctv.ca/CTVNews/Canada/20110114/condo-rules-110114/

Want to learn more on HST and how it will affect your property, please call Vijay Gandhi

From all economic indicators, it appears that higher interest rates are on the way in 2012.

What would your monthly payments be at current home prices in your neighborhood?  Compare your options using CENTUM Mortgage Calculators.

Vijay Gandhi is an independent mortgage planner- industry insider & CENTUM Agent. If you are purchasing, refinancing or renewing your mortgage, contact Vijay or apply for a Mortgage Check-up to obtain the best available rates and terms.
Have you considered a 50/50 Mortgage?

As always, if you have questions about the 50/50 mortgage product and whether it’s right for you, or other mortgage-related questions, I’m here to help!

Whether you are planning to buy-sell-lease-invest your first home or your investment, contact us today! We’d love to hear from you!
Please leave a detail message; I will get back to you soon as possible…

Thanks for visiting my web sites:

vijaygandhi.com , icxforsale.com & torontomortgagetrends.com

Mortgage Rates Are At Historical Lows. Easy OnLine Application. Apply And Get The Best Mortgage Rate!   Variable Mortgage  2.1%   5 Years Fixed  3.49%    Prime   3.00%
*condition apply/sub. To availability

Target for the Overnight Rate
Key interest rate: target for the overnight rate

Vijay Gandhi,
Sales Representative- REALTOR^®
RE/MAX Dynasty Realty Inc. Brokerage*

Mortgage Agent – Lic.# M10001947
CENTUM Metrocap Mortgage Corp. Lic.#11074

C: 647-267-6338 (Direct-Leave message or text)
O: 416.335.4335 | 905.471.0002 (page me-Have me)
F: 905.471.7441
E-MAIL: vtgandhi@yahoo.com , vgandhi@remax.net
WEB:  www.vijaygandhi.com , www.icxforsale.com
BLOG: https://gtarealtyagent.wordpress.com/
“YOUR PERSONAL REAL ESTATE & MORTGAGE ADVISOR^® FOR LIFE”
Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!
The referral of your friends & family is the greatest compliment you can give me. Thank you for your trust.

Please, forward my name, phone number & e-mail address to your friends, relatives, clients..

Things you think add value to your home – but really don’t

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The Bottom Line

Things you think add value to your home – but really don’t

Every homeowner must pay for routine home maintenance, such as replacing worn-out plumbing components or staining the deck, but some choose to make improvements with the intention of increasing the home’s value.

Certain projects, such as adding a well thought-out family room – or other functional space – can be a wise investment, as they do add to the value of the home. Other projects, however, allow little opportunity to recover the costs when it’s time to sell.

Even though the current homeowner may greatly appreciate the improvement, a buyer could be unimpressed and unwilling to factor the upgrade into the purchase price. Homeowners, therefore, need to be careful with how they choose to spend their money if they are expecting the investment to pay off. Here are six things you think add value to your home, but really don’t.
Swimming Pools

Swimming pools are one of those things that may be nice to enjoy at your friend’s or neighbour’s house, but that can be a hassle to have at your own home. Many potential homebuyers view swimming pools as dangerous, expensive to maintain and a lawsuit waiting to happen.

Families with young children in particular may turn down an otherwise perfect house because of the pool (and the fear of a child going in the pool unsupervised). In fact, a would-be buyer’s offer may be contingent on the home seller dismantling an above-ground pool or filling in an in-ground pool.

An in-ground pool costs anywhere from $10,000 to more than $100,000, and additional yearly maintenance expenses need to be considered. That’s a significant amount of money that might never be recouped if and when the house is sold.

Overbuilding for the Neighbourhood

Homeowners may, in an attempt to increase the value of a home, make improvements to the property that unintentionally make the home fall outside of the norm for the neighbourhood. While a large, expensive remodel, such as adding a second story with two bedrooms and a full bath, might make the home more appealing, it will not add significantly to the resale value if the house is in the midst of a neighbourhood of small, one-storey homes.

In general, homebuyers do not want to pay $250,000 for a house that sits in a neighbourhood with an average sales price of $150,000; the house will seem overpriced even if it is more desirable than the surrounding properties. The buyer will instead look to spend the $250,000 in a $250,000 neighbourhood. The house might be beautiful, but any money spent on overbuilding might be difficult to recover unless the other homes in the neighborhood follow suit.

Extensive Landscaping

Homebuyers may appreciate well-maintained or mature landscaping, but don’t expect the home’s value to increase because of it. A beautiful yard may encourage potential buyers to take a closer look at the property, but will probably not add to the selling price. If a buyer is unable or unwilling to put in the effort to maintain a garden, it will quickly become an eyesore, or the new homeowner might need to pay a qualified gardener to take charge. Either way, many buyers view elaborate landscaping as a burden (even though it might be attractive) and, as a result, are not likely to consider it when placing value on the home.

_____________________________________________________________
You can find the Residential/Commercial/multiplexes/investment listings on webs sites as under
www.vijaygandhi.com
www.icxforsale.com

Learn more:
The next Bank of Canada interest rate meeting is October 19 ,2010.
____________________________________________________________

High-End Upgrades

Putting stainless steel appliances in your kitchen or imported tiles in your entryway may do little to increase the value of your home if the bathrooms are still vinyl-floored and the shag carpeting in the bedrooms is leftover from the ’60s. Upgrades should be consistent to maintain a similar style and quality throughout the home.

A home that has a beautifully remodeled and modern kitchen can be viewed as a work in project if the bathrooms remain functionally obsolete. The remodel, therefore, might not fetch as high a return as if the rest of the home were brought up to the same level. High-quality upgrades generally increase the value of high-end homes, but not necessarily mid-range houses where the upgrade may be inconsistent with the rest of the home.

In addition, specific high-end features such as media rooms with specialized audio, visual or gaming equipment may be appealing to a few prospective buyers, but many potential homebuyers would not consider paying more for the home simply because of this additional feature. Chances are that the room would be re-tasked to a more generic living space.

Wall-to-Wall Carpeting

While real estate listings may still boast “new carpeting throughout” as a selling point, potential homebuyers today may cringe at the idea of having wall-to-wall carpeting. Carpeting is expensive to purchase and install. In addition, there is growing concern over the healthfulness of carpeting due to the amount of chemicals used in its processing and the potential for allergens (a serious concern for families with children). Add to that the probability that the carpet style and colour that you thought was absolutely perfect might not be what someone else had in mind.

Because of these hurdles, wall-to-wall carpet is something on which it’s difficult to recoup the costs. Removing carpeting and restoring wood floors is usually a more profitable investment.

Invisible Improvements

Invisible improvements are those costly projects that you know make your house a better place to live in, but that nobody else would notice – or likely care about. A new plumbing system or HVAC unit (heating, venting and air conditioning) might be necessary, but don’t expect it to recover these costs when it comes time to sell.

Many homebuyers simply expect these systems to be in good working order and will not pay extra just because you recently installed a new heater. It may be better to think of these improvements in terms of regular maintenance, and not an investment in your home’s value.

The Bottom Line

It is difficult to imagine spending thousands of dollars on a home-improvement project that will not be reflected in the home’s value when it comes time to sell. There is no simple equation for determining which projects will garner the highest return, or the most bang for your buck.

Some of this depends on the local market and even the age and style of the house. Homeowners frequently must choose between an improvement that they would really love to have (the in-ground swimming pool) and one that would prove to be a better investment. A bit of research, or the advice of a qualified real estate professional, can help homeowners avoid costly projects that don’t really add value to a home

The info. Is intended as general information only and does not constitute legal advice. If you need legal advice, please speak to a lawyer.

If you have any questions/suggestion or require more information, please do not hesitate to contact me for buying or selling and also I will be happy to assist you negotiating your investment needs.

You can find the Residential/commercial/multiplexes/investment listings on webs sites as under

www.vijaygandhi.com , www.icxforsale.com

Vijay Gandhi,
Sales Representative- REALTOR^®,
RE/MAX Dynasty Realty Inc. Brokerage*
C: 647. 267. 6338 (Direct-Leave message or text)
P: 416.335.4335 | 905.471-0002 (page me-Have me)
F: 905.471.7441
E: vtgandhi@yahoo.com , vgandhi@remax.net
W:  www.vijaygandhi.com , www.gtarealtyagent.com , www.icxforsale.com

Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!

6 Ways that Real Estate Investment Property Returns Profits

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investment, reit, roi, ror

When you purchase a company’s stock certificates, you’re looking for appreciation in the stock value, and perhaps dividend income if it is paid by the company. With bonds, you’re looking for income yield on the interest rate paid by the bonds. With a real estate investment property, there are more ways in which to realize a superior return on your investment. Learn the ways in which your real estate investment can increase in value, as well as provide good cash flow.

1. Cash Flow from Rental Income

As with a stock that pays dividends, a properly selected and managed rental property will provide a steady stream of income in the form of rental payments. Historically, this percentage of return has exceeded that of dividend yields on average.

The real estate investor has a bit more control over the risks to that cash flow also. Though there are downturns in real estate prices and homes sold in some years and areas, generally those renting property in which to live will continue to rent and without a corresponding decrease in rent amounts.
 

2. Increases in Value Due to Appreciation

Historically, real estate has shown to be an excellent source profit through the increase in investment property value over time. Of course, one cannot predict that this trend will always be true, and it varies significantly by area.

3. Improving Your Investment Property – More Value at Sale

While it’s providing rental income cash flow, your property can also be improved in order to garner a better price and more profit when you do choose to liquidate it as an investment.

Upgrades to the appearance and functionality of a real estate investment property can significantly increase value. As trends and styles change, keeping the property interesting to renters will at the very least help you to retain value.

You can find the multiplexes/investment listings on webs sites as under

www.vijaygandhi.com

4. Inflation is Your Friend when it comes to Rent

Though your fixed mortgage will remain constant over time, inflation that drives up home construction costs will also drive up rents. Population growth creates housing demand, again driving up rent prices if supply cannot keep pace.

5. Paying Off Your Mortgage

As you pay down your mortgage, the increase in equity can be used for other purposes and investments. Though it’s frequently accessed by selling the property, a real estate investor can also take out equity loans if the terms are right and use those funds for more investing or other purposes.

6. You Could Just Find that “Steal of a Deal”

This is the last item, though it’s one of the first ones many investors think about. There are opportunities to buy below market, but the other advantages above will probably be what the average investor experiences most of the time.

Should you be fortunate enough and have the experience to locate a value-priced property, this is an immediate way to increase your net worth and the value of your investment portfolio

 (The comments contained on this site are for information purposes only and do not constitute legal advice.)

If you have any questions/suggestion or require more information, please do not hesitate to contact me for buying or selling and also I will be happy to assist you negotiating your investment needs.

You can find the multiplexes/investment listings on webs sites as under

www.vijaygandhi.com

Vijay Gandhi,
Sales Representative- REALTOR^®,
RE/MAX Dynasty Realty Inc. Brokerage*
C: 647. 267. 6338 (Direct-Leave message or text)
P: 416.335.4335 | 905.471-0002 (page me-Have me)
F: 905.471.7441
E: vtgandhi@yahoo.com , vgandhi@remax.net
W:  www.vijaygandhi.com , www.gtarealtyagent.com

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Senior Homeowners’ Property Tax Grant

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Canada Revenue Agency, file a personal income tax return for 2009, Frequently Asked Questions, Ontario Property Tax Credit, Ontario Sales Tax Credit, Senior Homeowners' Property Tax Grant

The Ontario Senior Homeowners Property Tax Grant is an annual amount provided to help offset property taxes for seniors with low to middle incomes who own their own homes. In 2009, the maximum grant is $250. In 2010 and subsequent years, the maximum grant is $500.

The Canada Revenue Agency administers the grant on behalf of the Province of Ontario. 

Can I receive the property tax grant?

You can apply for a grant for a taxation year if you meet the following conditions on December 31 of the previous year.

To apply for the 2010 grant, you must file a personal income tax return for 2009 and meet the following conditions:

• you were 64 years of age or older on December 31, 2009
• you were a resident of Ontario on December 31, 2009
• you (or your spouse or common-law partner) owned and occupied your principal residence on December 31, 2009 for which you (or your spouse or common-law partner) paid Ontario property taxes in 2009
• your spouse or common-law partner has not received a Property Tax Grant for 2010
• you meet the income requirements.

You may be eligible for the Ontario Property Tax Credit in addition to the Property Tax Grant. For 2009, the property tax credit is a portion of the Ontario Property and Sales Tax Credit. Starting in 2010, the Ontario Property and Sales Tax Credit is replaced with a new Ontario Sales Tax Credit and a new Ontario Property Tax Credit.

Note: If you did not apply for the 2009 grant on your 2008 personal income tax return, you may contact the Canada Revenue Agency at 1 800 959-8281 to request an adjustment to your return to apply for it before January 1, 2012.

How do I apply to receive the property tax grant?

To receive the grant, you have to apply for it each year by completing and attaching Form ON479, Ontario Credits and Senior Homeowners’ Property Tax Grant, to your personal income tax return. (Note: this form is included in the Ontario General Income Tax and Benefit package.)

Your grant will be based on the information provided in your income tax return. You should receive your grant by cheque or direct deposit within 4 to 8 weeks after you receive your Notice of Assessment from the Canada Revenue Agency.

Where can I find more information?

For additional information, review the Senior Homeowner’s Property Tax Grant Information Bulletin or contact the Ministry of Revenue at:

• 1 866 ONT-TAXS (1 866 668-8297)
• 1 800 263-7776 for teletypewriter (TTY)

Ontario Senior Homeowners’ Property Tax Grant Questions and Answers are also available through the Canada Revenue Agency website.

More FAQs

Frequently Asked Questions

• Will the grant be taxable?
• Will secondary residences such as cottages be eligible for a property tax grant?
• Do homeowners have to pay their property tax before receiving a grant?
• I believe my property assessment is not accurate, can you help?
• You are helping seniors who own homes with their property tax burdens. How are you helping low-income Ontarians who rent?
• I have an outstanding debt with the CRA and didn’t receive a GST credit because I owed money to the government. Will I receive the grant?
• I forgot to apply for the OSHPTG when I filed my 2008 and 2009 income tax and benefit returns. Can I still apply for the grant?

Source : http://www.rev.gov.on.ca/en/

 (The comments contained on this site are for information purposes only and do not constitute legal advice.)

If you have any questions/suggestion or require more information, please do not hesitate to contact me and I will be happy to assist you.

Vijay Gandhi,
Sales Representative- REALTOR^®,
RE/MAX Dynasty Realty Inc. Brokerage*
C: 647. 267. 6338 (Direct-Leave message or text)
P: 416.335.4335 | 905.471-0002 (page me-Have me)
F: 905.471.7441
E: vtgandhi@yahoo.com , vgandhi@remax.net
W:  www.vijaygandhi.com , www.gtarealtyagent.com

BUYING POWER OF SALE, BANK SALE, TAX SALE, FORECLOSURE PROPERTY (Part-1)

BUYING POWER OF SALE, BANK SALE, TAX SALE, FORECLOSURE PROPERTY (Part-1)

What is a Power of Sale Property?

In Ontario, Canada when a borrower defaults or fails to pay on a home mortgage, the Financial Institution or a lender most often attempts to recover its losses by repossessing and selling the property. “Power of Sale” Clause, sometimes inserted in mortgages or deeds of trust, which grants the lender (or trustee) the right to sell the property upon certain default or non-payment. The property is to be sold at auction but court authority is unnecessary.

Once the creditor is paid out of the net proceeds, the property is transferred by deed to the purchaser, and the surplus, if any, is returned to the debtor. The debtor is thereby completely divested of any interest in the property and has no subsequent right of redemption-recovery of property by paying the mortgage debt in full.

 

 In Canada, there are two main ways a lender can recover a mortgage debt when a borrower defaults:

Judicial Sale or Power of Sale(P.O.S.).

 

Judicial sale is a sale conducted under the supervision and authority of the court, where a lender must apply to the court to get the court’s permission to sell the property. Power of sale allows a lender to sell property without the involvement of the court. The lender has the right to sell the property from the mortgage document and/or provincial legislation which authorizes power if sale in that province.

Power of sale is used as the lender’s primary recovery method in Newfoundland, New Brunswick, Prince Edward Island, and Ontario. Whereas, judicial sale has been adopted as the primary debt recovery vehicle in British Columbia, Alberta, Saskatchewan, Manitoba, and Quebec. In Nova Scotia, the primary recovery process is called “Mortgage Foreclosure” or “Mortgage Foreclosure and Sale,” but is considered judicial, as the court is involved. 

WE STRONGLY RECOMMEND FOR RIGHT LEGAL ADVICE IN THIS SUBJECTS.

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Please contact me and you will have no surprise!

(Next interesting INFO series see next articles…)

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(The comments contained on this site are for information purposes only and do not constitute legal advice.)

If you have any questions/suggestion or require more information, please do not hesitate to contact me and I will be happy to assist you.

Vijay Gandhi,
Sales Representative- REALTOR^®,
RE/MAX Dynasty Realty Inc. Brokerage*
C: 647. 267. 6338 (Direct-Leave message or text)
P: 416.335.4335 | 905.471-0002 (page me-Have me)
F: 905.471.7441
E: vtgandhi@yahoo.com , vgandhi@remax.net
W:  www.vijaygandhi.com , www.gtarealtyagent.com