|
Hi <<First Name>>,
Interesting times. With the last 14 offers I wrote for my clients who are buyers, 12 of them were in multiple offer situations. Whenever I do a market comparable analysis report for a client, on average 5 of 6 properties have all sold over asking. It is not unusual to hear stories from my colleagues of 16+ offers on one property, with prices going, in some cases, 80-100K over asking. Let me clarify though, the price that the property is being sold for is market value. The brokers are normally not listing the property below value in order to create a buzz. Just listing it at market value is doing that all on its own. The problem is that there are not any products out there for buyers anymore. Slim pickings. A lot of desperation when a buyer who needs to buy, loses 2-3 offers in a row. Even if you are the first one to visit and put an offer on the spot, brokers will ask everyone to leave their offer open 2-3 days, so they can entertain as many offers as possible, giving everyone a chance to get their offer in.
|
|
|
Repossessions:
What the banks don't tell you
|
|
|
|
|
New real estate investors often think of repossessions as a way to get started in the business. A repossession happens when property owners can’t pay their mortgage. The bank takes over the property and sells it to recoup its money.
The idea that an investor can make big money buying and selling repossessed properties makes sense from the outside looking in. A lot of people think they will get a steal.
Price Might Not Justify the Risks
What most people do not know is that most repossessions end up selling for market value and, on a few occasions, they sell for more. The banks want to get as much as they can so they’ll hire a real estate. Usually the real estate broker will list the property very close to its market value with the hope of attracting a lot of buyer interest and multiple offers.
The problem is that repossessions don’t come with legal warranty. The bank was never the property owner so it doesn’t have to provide any property history or declare any issues. You get what you get. If you find a hidden defect, such as issues with the foundation or water infiltration, you are stuck with it.
...continue reading
|
|
|
|
What happened in March Market News – Montreal and surrounding areas
The Seller’s market continues from April 2017. Sales up and listings down.
View latest market news clip:
|
|
|
|
Once I have an accepted offer on my property, how much time will it take to get my money?
These are average timelines for buying a house, condo or small multidoor: Once your offer is accepted, there will be timelines to alleviate the conditions. The timelines are in calendar days (including weekends). On average a mortgage is about 14 days, inspection 12 days, viewing condo documents 10 days. There are other possible conditions, however these are the most popular. The notary normally needs around 14 days to do their work before signing the title deed. Once the signing is complete, it takes about 2-3 days to register the sale and for funds to be available. So in all, it usually takes about a month. If the buyer is paying cash (buyer’s funds are in Canada), there is no inspection and they have a quick notary, I have seen in done in 2 weeks.
|
|
Come and see some real examples of live deals that are going on right now and the amazing results investors are getting. We'll talk about how you can participate in this fantastic market and get in on high returns.
How would you like to be on the receiving end of a mortgage instead of always paying out on one? Come find out how you can Be The Bank!
Topics will include:
1. The US mortgage investment opportunity today.
2. How to buy, sell or wholesale US mortgages.
3. Five exit strategies that will net you great returns.
Cost: $10
Learn more about this month's Meetup here. Would love to see you!!!
If you want to stay on top of the market, become a part of our Meetups here!
|
|
Build Your Real Estate Brain
|
|
|
Visiting Properties: What to Watch Out For
Not only will we look at assessing a property for purchase, I've also compiled a list of very important details that are always overlooked. Tips and tricks to help you determine aspects about the building that are imperative to its overall value. I'll share with you my secrets that I've learned...shhhhhh. With an important purchase like this, you can never be too cautious!
|
|
|
A little inside info ABOUT ME:
|
|
|
Jennifer Lynn Walker
Jennifer Lynn Walker has been active in Montreal Real Estate since 2003. She founded the Montreal Real Estate Investor’s Group, which has more than 1,060 members. She specializes in buying and selling, eco- friendly homes and helping real estate investors.
If you know of someone who you think would jive with my teachings, please pass this along send to a friend
|
|
|
|
If you are thinking or planning on selling your home or buying more real estate, and/or interested in real estate being part of your retirement portfolio, and would like a free 15 minute phone consultation, please email me your availabilities to book your call. jenn@montreal-realestate.ca
|
|
|
"Jackpot! Jennifer not only helped me find exactly what I needed, she coached me the entire way. As a first time buyer, I was astounded by how informative, reliable, and fun my agent was. Always a phone call away, perfect answers to all of my "many" questions, Jennifer made buying my first home stress free and really cool. I couldn't be more grateful to have worked with an agent as efficient as she was. Kudos!”
- Jonathan De Koninck
|
|
|
|
|
