Tom Flatt, Coldwell Banker J. Kazi Realty, Brokerage: Don’t try to time the market. Know when your timi...

Tom Flatt, Coldwell Banker J. Kazi Realty, Brokerage: Don’t try to time the market. Know when your timi...: Don’t try to time the market. Know when your timing is right In today’s changing market, many Canadians are wondering whether it’s still...

Don’t try to time the market.  Know when your timing is right

In today’s changing market, many Canadians are wondering whether it’s still a good time to buy or sell a home.  The truth of the matter is, there’s no one right answer to that question.  The real question to ask is whether it’s the right time for you.  

Don’t make the mistake of trying to time the market.  If you’re buying a home, you need to determine the costs vs. the expected return, and then decide if that situation will likely improve if you wait.  With today’s historically low interest rates, the cost of carrying a home is now very affordable.  Your local Realtor® real estate professional can help you estimate what your expected mortgage, taxes, utilities and other carrying costs will be after your down payment.  First time buyers may even find that their carrying costs are comparable to rent.  And bear in mind that you can lock in your mortgage rate now to keep your costs low, even when interest rates inevitably start to move higher.

In most cases, a simple calculation will tell you that you have a lot to lose by waiting.  The higher carrying costs if mortgage rates go up and the lost equity you might have been building could be significant if you decide to wait.  First time buyers waiting to save for a larger down payment could find this especially true when you consider that you still have to pay rent while you’re saving for a home.

If you already own a home and want to sell it to buy another, then you’ve got both ends of the transaction to consider.  Don’t lose sight of the fact that it’s the difference between the prices of the two properties that’s your primary concern.  You need to focus on whether you can afford the additional expense of the new property over that of your present home.  Again, here’s where your Realtor® comes in -- estimating the proceeds of the sale of your existing home, providing helpful advice on how to keep your carrying costs low for your next home, and helping you lock in a great mortgage rate before you buy. 

So, if you think the time may be right for you and your family to make a move, just consider the high cost of waiting and talk to your local professional for their expert advice.  Instead of trying to time the market, make an informed decision that’s right for you and your family.   

Tom Flatt, Coldwell Banker J. Kazi Realty, Brokerage: Going Green is a growing trend in real estate.

Tom Flatt, Coldwell Banker J. Kazi Realty, Brokerage: Going Green is a growing trend in real estate.: ‘Going green’ is a growing trend in real estate Until recently, the term “greenhouse” meant a building made of glass, where plants are cult...

Going Green is a growing trend in real estate.

‘Going green’ is a growing trend in real estate
Until recently, the term “greenhouse” meant a building made of glass, where plants are cultivated.   But for today’s prospective homebuyer, the terms “green” and “house” can conjure up very different meanings—that of a home that uses sustainable building materials and energy efficient design.  And now, according to the Canadian Real Estate Association (CREA), the growing green housing movement is significantly changing how property is marketed and managed.
In a global friendly (Source: BCREA, January 2009).
As you might expect with a newly-emerging field, right now there is little consistency or standardization amongst the various degrees of ‘greenness” within a market.  There is already a growing demand for some type of consistency which will make it easier for property developers and building owners to monitor and compare the energy performance of their buildings.  But when it comes to individual homeowners—that is not so easy.
Consumers looking to purchase eco-friendly homes have limited options to obtain detailed information on the green aspects of a home, often relying on the information provided by the current homeowner which may or may not be accurate.  So, while going green is good for consumers and for our planet, this is another area where homebuyers can benefit from the advice of real estate industry professionals.  Whether it’s a professional home inspector or your local Realtor®, they can point out aspects of a home that will help save you money on your energy costs.  And if you plan on selling, talk to your Realtor® about how to showcase the ‘green’ features in your home to appeal to today’s eco-conscious consumer.
shift towards ‘eco-friendly’ housing, people are now recognizing that a green building is efficient, and this efficiency has real economic, as well as social and environmental value. No longer is ‘green’ housing just a trendy buzzword.  It is quickly becoming a measurable standard throughout the world.  For building construction, organizations in the UK, the US and Australia have agreed to cooperate and develop common metrics for measuring CO₂ emissions. These leading green building ratings are now available internationally for measuring the environmental sustainability of new and existing homes and buildings. 
Here in Canada, the movement towards going green is growing exponentially, especially in British Columbia and the Atlantic provinces, says CREA.  Recent findings show that about one out of three BC residents has already taken steps to make their homes more environmentally

Tom Flatt, Coldwell Banker J. Kazi Realty, Brokerage: See the value in today's real estate market!

Tom Flatt, Coldwell Banker J. Kazi Realty, Brokerage: See the value in today's real estate market!: See the value in today’s real estate market There is great value in today’s real estate market for several good reasons. There’s good inv...

See the value in today's real estate market!

See the value in today’s real estate market

There is great value in today’s real estate market for several good reasons.  There’s good inventory to choose from, interest rates are at historically low levels, and lower prices in some markets have led to the best home affordability seen in Canada in many years.  But despite all this, some consumers are still just sitting on the fence, waiting to time the market.  This can prove to be a costly mistake.  Consumer need to be aware that their best opportunity may just be right here and now.    

A good way to evaluate opportunity is to stop thinking short-term numbers and start thinking long-term value.  In most of the markets across Canada, this is one of the best times ever to buy a home. Yet today, some members of the media are barraging the public with headlines about how much sales activity or house values have fallen since the previous period.  They rarely mention the fact that they are comparing today’s results against unprecedented record-breaking highs.  They focus on provocative headlines about short terms results that can instill fear in the home buying public. These same articles say very little about the long-term benefits of owning your own home, including freedom and pride of ownership, or building equity as you pay for shelter, rather than putting your investment in a landlord’s pocket.  They do not tell the story of how the vast majority of homeowners in Canada have enjoyed appreciation – sometimes record appreciation -- in the value of their home overall.  And in many cases, they’ve built equity even if they have only owned their home for just a few short years.  This is a message that consumers need to hear. 

Perhaps the simplest way to assess the value of buying your own home is by asking those people who have already done it.  Talk to family and friends who bought a home whether they still think it was a good decision.  Chances are they’ll confirm what savvy real estate investors already know – buying a home is a great investment.  What’s more, this is a great time to buy, so why not take advantage of the opportunity?

Your local Realtor® has been armed with an impressive array of tools and resources to help you do just that.  After a one-on-one conversation, we hope you’ll agree that no other real estate brand prepares you so well to take advantage of the opportunities in today’s market.  Why not call us soon and let’s talk real estate!

Tom Flatt, Coldwell Banker J. Kazi Realty, Brokerage: What’s selling and what’s not?

Tom Flatt, Coldwell Banker J. Kazi Realty, Brokerage: What’s selling and what’s not?: What’s selling and what’s not? In today’s challenging real estate market, people are full of questions about the real estate market. As y...