Humber Bay Shore (Etobicoke, ON)
Humber Bay Shore (Etobicoke, ON) Real Estate News
Img 1192
Interest Rates increase in 2012 Really?
David Pylyp (RE/MAX Realty Specialists Inc.,)

We are expecting a significant mortgage rate increase in the next week. It is extremely important that you act on this now!

Spreads on our bond yields which we use to set interest rates for all lenders are under water now.
Today the largest courier company Ups purchased a large courier company in Denmark, to make it the largest company in North America

When we see the logistics companies and courier companies grow as in in this example that is a tell tale sign that the economy is improving.

http://www.businessweek.com/news/2012-03-18/ups-said-to-reach-deal-to-buy-tnt-express

This is contrary to what the economist for CMHC indicated in late 2010 which was a freeze on interest rates over the next 14 months. This prediction was done prior to the fact that Interest rates kept dropping to the levels that exist now, along with many signs of an improving economy.

Mortgage trends is an excellent link as the brokers here many who work for the RBC Alternate Mortgage Lending side tell the true picture. Check out what they say

http://www.canadianmortgagetrends.com/canadian_mortgage_trends/interest_rate_direction/

We saw BMO launch a 5 years rate at 2.99% in January only to find out as a strip down mortgage it lacked many of the features of a mortgage. They pulled it and then tired to re launch it but by then everyone knew what they were selling. I sent you all a marketing piece on the comparison of RBC offering with all the bells and whistles in our Homeline Plan as a comparison to this. One bank is already to pull their rate offering this week.

Many of my clients started thinking shorter term 1-3 years up until this weekend when there was a mass frenzy of information traded between all of the big 5 banks on the tightening of bond yields and already a few have called back today and adjusted from a shorter term to the 4 year rate offering at 2.99% RBC Homeline.

What does this all mean?

You have a window of opportunity to help me rate commit as many clients as we can before the rates go up and save your clients 1000's of dollars .

We can hold this rate for 120 days. On a 250,000 mortgage if the rate is now 2.99% and later goes to 3.29% that is a payment swing of almost $40 a month or 2400 over 5 years and that would be the largest single increase in 4-5 yr rates in over 2 years!

I am attaching application forms for any of you who want to pro active ad have your clients complete these and also authorize a credit check 524 pdf form with RBC.

With out these two items I cannot protect your clients when rates rise before the end of the month.

RBC will continue to deliver advice you and your clients can bank on!

Lets all take advantage of this to book our clients at this excellent offering and grow your pipeline for Spring!!! Once the 2.99% offering is gone its gone!


David Pylyp Great advice from Lindsay Doke RBC Are you booking the rate? If you are active in the Toronto Real Estate market you should reach out and reserve your interest rate. Call me

David Pylyp

Etobicoke Real Estate Agent

Accredited Senior Agent for York Peel and Halton Regions

Lives in Toronto and promotes Giving Value

As we move forward It would be good if you also circled me on Google +
https://plus.google.com/109283965469179719942/posts

Img 1192
Accounting Firm says we are $774 Million in the RED
David Pylyp (RE/MAX Realty Specialists Inc.,)

KPMG's performance Audit of Core Services was delivered.  Where can you cut core services by $774 Million Dollars in Toronto.

We should be building schools, transit, hospitals to meet population changes. Instead we are making decisions about cutting departments and services.



What would you cut? What would be saved?

Add your comments....

What ever is left over means there will be proportionate Property Tax increases and additional user fee.

What more are you willing to pay for?

David Pylyp

Etobicoke Real Estate Agent

Accredited Senior Agent for York Peel and Halton Regions

Lives in Toronto and promotes Giving Value

As we move forward It would be good if you also circled me on Google +
https://plus.google.com/109283965469179719942/posts

Img 1192
Park Lake Residence - Experience Canada Day
David Pylyp (RE/MAX Realty Specialists Inc.,)
What better way to Celebrate the 144th Canada Day than with the residents of our own Park Lake Condominium Community along Lake Shore Blvd., W in Toronto.
A well attended event that have a new community joined to greet and enjoy a Canadian summer on the Toronto Waterfront.
The fifth floor has a natural open air terrace that opens out onto the Lake Shore between Windermere and Ellis Avenue.
Each tower has complete access to this terrace and made for an excellent opportunity to watch the Toronto firework display over Ontario Place later in the evening.
Additional Pictures of the events and participants!
Thank you to those who participated and come out to meet and greet their neighbours. If you would like more information about living at Park Lake Residence or another community along the Humber Bay Shore give me a ring or email david@davidpylyp.com

David Pylyp

Etobicoke Real Estate Agent

Accredited Senior Agent for York Peel and Halton Regions

Lives in Toronto and promotes Giving Value

As we move forward It would be good if you also circled me on Google +
https://plus.google.com/109283965469179719942/posts

Img 1192
How to handle a Multiple Offer
David Pylyp (RE/MAX Realty Specialists Inc.,)

This is an interesting topic from Mark Weisleder on Bidding up offers and multiple offer protocol. Simply put the ethics and logistics of how and why one offer is selected over another.


Most sellers will instruct their agent to tell this anxious buyer to wait until the proper time period. However, if the seller wants to consider the offer, their agent will then change the information on the MLS listing immediately to notify every other agent that the rules have changed, and that offers can be submitted that evening. The agent will also likely call every other agent who has expressed an interest in the property to tell them personally that offers can now be brought immediately.

When a buyer agent has a signed offer, they will usually call the listing agent office to register their offer verbally. There is a protocol that has been established in Toronto that if you were the first to register your offer, you will be given the first opportunity to present it to the seller in person, if there is more than one offer. This is just a protocol, and does not have to be followed by every real estate firm.

However, an offer is not completed unless it is communicated to the seller or seller’s agent, either by personal delivery, fax or email. Therefore, a buyer can still cancel their offer at any time before it is communicated. That is why an offer might be registered but never delivered. The buyer changed his or her mind.

Why can’t we have a silent auction? When buyers make offers through an agent, the agent has an ethical obligation not to disclose the contents of any offer to any of the other buyers. A seller agent can only tell all other bidders how many offers were received. They cannot tell the price or identity associated with any of the offers. However, a private seller could take one buyer offer and just show it to another bidder. This is one of the main reasons private sellers have trouble creating bidding wars.

 


There is one glaring singular omission; While you purchase the house emotionally and the justify your purchase with logic, the reality of overbidding, Paying over the asking price, needs to be justified to the lending institution with an appraisal.


If you are buying the house with cash and this is what you want to pay, No Problem. If you are financing the property with 15% down and you pay 20 % over the asking price the Mortgage company may ask you to add additional downpayment. ( you over paid) In this senario we see houses that have sold for huge multiple bids, only to be back on the market and embroiled with litigation over the failure to close (specific performance) and who gets the deposit.

I invite your comments, add your story to help others understand our local real estate market.

If you are ready to do business, give me a call at 647 218 2414 

 

David Pylyp

Etobicoke Real Estate Agent

Accredited Senior Agent for York Peel and Halton Regions

Lives in Toronto and promotes Giving Value

As we move forward It would be good if you also circled me on Google +
https://plus.google.com/109283965469179719942/posts

Img 1192
You could be home already ... If you lived here...
David Pylyp (RE/MAX Realty Specialists Inc.,)
Have you noticed that the traffic is backed up in both directions every morning. You could be home already if you lived along this strip
You keep passing this high density Hi Rise cluster that encompasses Humber Bay Shore and starts with Park Lake Residence on the south and the Windermere by the Lake and NXT on the north.
Which are the most noticeable? Of course the Twin sisters and Toronto Landmarks that are the Palace Place and Palace Pier towers along the banks of the Humber River.
Living here along the Lake does have benefits; access to public transit, local shops and community in Bloor West and Roncesvalles Village, opportunities for open air parks along the Martin Goodman Trail.
The bigger question we need to ask ourselves is about ECO sustainability. How far and how long are you willing to commute to feel that you have escaped the city prices. Gasoline today was $1.25 per liter, Taxes and Insurance have steadily increased while coverages have been reduced, Hydro and energy costs are also on the rise. Is there a value that you place on time that is consumed in your daily commute?
Would you like to talk about alternatives? Add a comment, Speak your Mind or just call and lets go shopping for something that suits your lifestyle now.

David Pylyp

Etobicoke Real Estate Agent

Accredited Senior Agent for York Peel and Halton Regions

Lives in Toronto and promotes Giving Value

As we move forward It would be good if you also circled me on Google +
https://plus.google.com/109283965469179719942/posts

Img 1192
Of course you have the right to sell it yourself
David Pylyp (RE/MAX Realty Specialists Inc.,)

The Competition Bureau is again being dragged into the fray between Brokers and their "right" to post mere listings Nationally. Although I am licensed only in Ontario, I should have the right to (MERE) list your house in BC. UMM because....


[MERE listing? I am just putting it online for you since anyone can fill out a form. I don't represent you, open any doors, make any promises, I just load your listing to MLS.ca]

At the centre of the fight is a deceptively complex question – are flat-fee agents trading in real estate, or simply posting a listing to an online forum? If they are indeed trading, provincial regulators require them to be licensed in a province before accepting a listing. http://www.theglobeandmail.com/report-on-business/competition-bureau-asked-to-settle-new-fight-over-mls-listings/article2006060/

On the other side of the fence is a lengthy but well written piece from Property Line that says although Canadians understand the MLS moderately, a full 45% think they could go it alone, But why would you want to with the largest asset you have?

Bravo! The lawyers must be rubbing their hands with glee.

Don’t bite off more than you can chew

Regardless of motivation to sell privately or not- it is the sheer size of the transaction within one’s financial portfolio- that should be reason to pause and fully take stock.

In taking on something so financially substantial- there comes an inherent presence of risk- and that is why, at the very least, the transactional component of sales process cannot be left to amateurs. Risk, however, can be mitigated by education and access to information. http://propertywire.ca/features/features/market-intelligence/1045-seeking-advice-and-other-necessary-tools-to-sell-your-house.html

 

Weigh all the facts

Seemingly, the motivations of selling privately are largely financial- but the risks of doing the entire transaction on your own are substantial. If all the facts are not considered, then there remains the possibility that you may ending up losing money through carrying costs and through other avenues- which outweighs the savings made on commission.

There is the possibility that a private seller may luck into a sale immediately, and save not only lots of money on commissions, but also save money on carrying costs.

In this environment, luck must be contrived, not hoped for. In order to mitigate risk, a private seller must understand everything right from the get go- even if they end up selling privately; they must understand all scenarios- and that involves understanding all the variables, whether though consultation at the beginning of the process with a Real Estate Lawyer- or with a Realtor

 

 

Lets recap. I have an office that calls and books appointments, maintains records, Abides by Privacy Legislation and PIPEDA. We have an appointed individual for FINTRAC compliance. (collects data about who you are from Birth Certificates, Driver's License and Passports.

I video, digital camera your house, provide picture frame digital players, upload your Movie to servers, add your photo stream, produce colour brochures to market your property, keep your secrets, disclose only what is lawful to share, Guarantee your deposits and carry Errors and Omissions Insurance. Attend with you at your closing. Have I missed a few things?

Since obtaining my Accredited Senior Agent designation I am more versed in senior and elder issues; trained to recognize potential tax and legal pitfalls and direct you to suitable tax, legal and accounting professionals.

Are you getting along in years but want to stay in the house? I can help with that too. Firstly to direct you to services and personnel that can provide in home care or assisted living. Maybe its hardware and extra handles. But what about money? Lets examine Pension erosion vs expenses and taxes. Could you use a CHIP, Line of Credit or Equity Mortgage? Depends how long you are staying...

Let's say that you separated from Wife no #1 in the marital home, never divorced and now are living in that same house with Wife no #2 as a Common Law relationship; while the second may sign the Agreement of Purchase and Sale it is the first that must sign the consent to the transaction. What do you think?

What are the questions you would like to ask?

David Pylyp

Etobicoke Real Estate Agent

Accredited Senior Agent for York Peel and Halton Regions

Lives in Toronto and promotes Giving Value

As we move forward It would be good if you also circled me on Google +
https://plus.google.com/109283965469179719942/posts

Img 1192
Accredited Senior Agent Transition Management Toronto
David Pylyp (RE/MAX Realty Specialists Inc.,)


ASA - Accredited Senior Agent Toronto

With the population of Canada aging, traditional selling methods will not provide the diligence and services that will be needed in coming years. I have been trained to deliver excellence of service to those in the mature and senior markets as well as their families, who may need special consideration.

For a real estate professional, there is a lot more to listing and selling a home than just the paper process. It takes time, it takes consideration of people’s special needs and it takes a strong team of experts, both within and outside of real estate.

You may be out of town, there may be disputes with siblings, who will take what and suitably appraise the memorabilia, keepsakes and valuables. Is dispute resolution needed? Who will secure the property during the funeral and arrange for insurance, trades, repairs, floors, painters, redecoration, staging and then ultimately the sale.

There are more than 90,000 Realtors in Canada and of these, less than half of one percent has earned the prestigious Accredited Senior Agent professional designation. I am proud to be in this elite group and am looking to be of service to you or those whom you may refer to me.
I am focused on the mature and senior market and I promise that I have the patience and deep understanding of involvedness, as well as the professional tools to provide an excellent and personalized service.

David Pylyp
Accredited Senior Agent
RE/MAX Realty Specialists Inc., Brokerage

905 272 3434 direct 647 218 2414

David Pylyp

Etobicoke Real Estate Agent

Accredited Senior Agent for York Peel and Halton Regions

Lives in Toronto and promotes Giving Value

As we move forward It would be good if you also circled me on Google +
https://plus.google.com/109283965469179719942/posts

Etobicoke, ON Real Estate Professionals
Explore ActiveRain