Even if you're not currently looking to buy a home, you've probably seen the news or heard from friends about how feverish the housing market has gotten in our area.
In this short video, I share what's been happening, and some of the core causes of this unprecedented real estate market in Quebec.
With the increased competition for the limited number of homes available for sale right now, a lot of prospective homeowners are getting frustrated losing offer after offer to more competitive bids.
In this video, I share with you some uncommon tricks I've used to help my clients offer stand out and even win out over higher offers.
This is a question that is coming up a lot more often these days because of how hot the real estate market is.
Traditionally, you would usually make an offer on a home with a condition that before the deal actually go through, you have to sell your own home first.
But nowadays, many buyers are waiving that condition to make their offers more attractive.
Sellers like this because it provides a lot more certainty and lowers their risk in accepting those offers.
Now waiving this condition is something cash buyers like investors can do, but for the rest of us, waiving this condition means we have to sell our homes first.
Tune in to this week's episode where I explain this in more detail and share how we've been able to make this approach work.
The very competitive real estate market we're in right now means you really need to have your ducks in a row when you're ready to purchase your next home.
If you bought your current home anytime before the last 18 months, let me tell you...things have changed!
In this video I outline the steps that are required to make sure you're ready to move quickly when you find a home you'd like to make an offer on.
This is a really relevant question right now because with the real estate market being as competitive as it currently is, we're seeing more and more people waiving the pre-purchase inspection in order to make their offer more attractive to the homeowner.
For the reasons I outline in the video, this is NOT an approach I'd recommend. I always advise my clients to get the inspection.
In my opinion, this is the best $500-$700 you'll ever spend.
While each home, and each market can create some subtle differences for what needs to be done to get your home ready to sell, there are a few core steps that should be done no matter what.
It's important to remember that first impressions are VERY important - our goal with everything we do is to try and help prospective buyers start to picture themselves living there.
In this video I cover the most important things I recommend to everyone I work with.
Most people, when they hear that a house is being sold 'without legal warranty' assume that means the house is in horrible condition, or that the seller has something to hide...
In this video, I go over exactly what this means, the reasons why sellers might want to sell a house this way, and all the ways the laws are designed to still keep everyone safe.
Selling a home has several steps in the process, and while getting an accepted offer is certainly a very important step, it's also not the last.
Once your offer is accepted, there are normally a series of conditions that need to be met before the offer is changed to 'firm' and even then, it's not officially 'sold' until you've sat down at the notary to sign the deeds.
In this video I dig into what conditions are, the most common conditions we see, and how long they typically take to satisfy.
In this video, I outline all the costs you can expect when either buying or selling a home.
I always try to outline this with as much detail as possible for both buyers and sellers, so that there are no surprises when it comes time to close on your home.
While each case is a little bit different, there are some general rules of thumb and some online calculators that will help you better understand exactly where the money goes.
A 'certificate of location' is a very detailed map of your property, and is a required part of any sale.
You would have received one in that big brown envelope you received from the notary when you purchased your current home.
Now the question is, do I need to get a new one when I sell? T
here are 2 situations where you'll need to order a new one, which I cover in this video.
This week we're doing something a little different.
I often get asked, "What's happening in the real estate market?".
So this week, I'm sharing some key stats that I monitor regularly in order to understand how to best set my clients up for the best outcome when they buy or sell.
Like any situation when you're buying something, there are 2 parties to that transaction - a buyer and a seller.
That's why in real estate, depending on which side you're on, your agent is either acting as a 'buyer's agent' or a 'seller's agent'.
While for most people it's clear what the seller's agent does, I have noticed it's not always clear what a buyer's agent's role is.
In this week's video, I explore the importance of working with an agent when you're buying a home.
I also share the specifics on what a buyer's agent does for you, how they're able to represent and protect you when buying a home, and also how they're compensated.
I get asked this question frequently because I suggest this to my clients more often than not.
Selling your home can be a stressful situation. When an offer falls through because of something that has come up in the inspection, sellers can sometimes wonder if they could have done more.
Doing a pre-listing inspection allows the sellers to address any of the home's issues or "red flags" before putting it on the market. This can help prevent offers from falling through after the inspection. It can also give a prospective buyer good insight into a home they may be considering making an offer on.
A pre-listing inspection is an additional step that can be taken to allow a transaction to be as seamless as possible.
In my most recent episode of #AskPete I talk about how a home's location can impact a sale.
When we talk about a home's location, we're talking about everything that is surrounding the home. Are there nearby schools, restaurants, parks, or is it far from grocery stores or situated near a noisy highway? Local amenities can impact a home's sale in a positive or a negative way.
In this episode, I talk about the things you can look for that will benefit you when looking to purchase your next home and for resale purposes.
This week I discuss how I determine the listing price of a home.
In Quebec, information for what homes sold for in previous sales is only accessible to brokers. With access to that information, with the use of comps in your neighbourhood, and with so much personal exposure to homes, I can come up with the right pricing strategy for your home.
As always, if you have a question, just drop it in the comments and I'll cover it in an upcoming episode.
Today I'm talking about appraisals! What is it and how is it used?
When a bank lends someone money for a mortgage, they want to make sure it will be a good investment for them.
As a buyer, even if you are approved for a larger amount, the bank still won't lend you the money if they don't think the house is worth enough to cover the mortgage.
Working with an experienced broker can make all the difference when it comes to pricing your home or making an offer on one!
Welcome back to #AskPete! This is our first episode of the year and we are so excited to be back with you.
Today's topic is "Does curb appeal really matter?" and it's such a great one.
In short, yes, curb appeal really does matter. It's the first thing any respective buyer will notice upon arriving to your home.
Like with any home project, you can go above and beyond and spend all kinds of money.
In this video, I give a few suggestions on how to spruce up the exterior of your home that will make a good impression on buyers, all in a cost effective way.
In this week's episode, we're changing it up a bit. I'm giving a market update for our local areas of Hudson, Saint-Lazare and Vaudreuil.
With the help of some graphics and visuals, I highlight how quickly homes are selling, the median sale prices, and compare home price growth across the country.
I love today's question! "When I'm selling my home and buying a new one, how do I line up the dates and make sure that everything goes smoothly so I dont end up having to move my stuff twice?"
I know it sounds like a lot to think about, let me break it down so that it doesn't seem as daunting. There are 2 main dates to think about for each transaction: the notary date and the occupancy date. A minimum of 48 hours between the sale of your current home and the purchase of your new home is required for the funds to go through. I suggest leaving anywhere between 3-5 days between each transaction.
Another way to help facilitate this process is to use the same notary as the person purchasing your property.
Don't wait until it's too late and you end up having to move into your in-laws' home for a short period of time.
This week's question comes with so many answers.
When it comes to working with my clients, I present myself to them as their personal adviser. Like anything, emotions play a big role when purchasing a home. My role as their adviser is to make sure they are making choices based off of sound information.
Today's video will give you a bit of insight as to how I like to go about working with my clients.
Stay tuned for the end of the video if you're a Star Wars fan 🪐
In this week's episode, you'll get an insight into the market update for the first quarter of 2022 in the Hudson, Saint-Lazare and Vaudreuil areas.
You'll see how quickly the demand ramps up after the holidays, as well as the impact on home sales due to rising interest rates and inflation.
Check out the video for more details, and to see if we'll ever climb out of this reigning seller's market...
In this week's episode, we break down what happens when you visit a home without your broker.
I go over what's referred to as "Effective Cause of Sale", and what needs to be proven in order for a broker to claim their commission.
If your broker isn't present with you, sometimes the listing broker tries to get you to submit an offer through them directly. To avoid conflict on who gets the commission for the sale, there are some simple steps that can be taken.
In this week's episode, I shed some light on the infamous Seller's Declaration, and why it's so important to be honest and thorough when completing it with your broker!
If you've bought or sold a home before, you've for sure had to fill out or read through this long and tedious form. As invasive as it may seem, it's mandatory and essential to protect both the buyer and seller in a transaction.
On this week's topic, I go over what it means to have an offer accepted in second position. 🥈
When there are multiple offers received on a property, it's wise for the seller to protect themselves with a backup plan. Should something fall through with the first offer (such as a financing condition), that second offer comes into play and they are under a legal obligation to proceed with it. This will avoid the hassle of having to relist the home, go through all the visits again, and finding another buyer with new conditions. 🤦
For buyers; although being the first accepted offer is ideal, I've seen it happen on more than a few occasions to get the home second in line! No matter the outcome, this tactic is always worth a try! 👍
We're doing something fun and different for this week's topic! 🙌
I often get asked by my clients "What's your craziest real estate story?" 🤔
Watch the full video to see how this totally unexpected event unfolds! You never know what can happen during a day in the life of a broker..
I'd love to hear some of your crazy real estate stories that you may have witnessed for yourself or with your broker!
This week's topic is something that's being discussed and picked at by anyone who is currently on the market to buy or sell property.
We all saw in 2021 how the market exploded. Interest rates and inventory were at an all-time low, mixed with high building costs and demand. All of these elements combined created a perfect storm for bidding wars on homes, and clearly making it a hot seller's market.
Now that things have cooled down, and the Bank of Canada has significantly increased interest rates on mortgages, buyers have had to tighten their pockets and reduce their purchasing power. In a trickle effect, sellers have had to adjust and consider lowering their selling price to balance the market.
There's always an ebb and flow in real estate. There's never a perfect formula, or a perfect time, but staying informed is key, and adapting to the trends.
The easiest way to remember is this;
Lower interest rates = Higher purchasing power
Higher interest rates = Lower purchasing power