Real Estate

There was a recent article in the Globe & Mail where a real estate agent was interviewed about her opinion on holding open houses if you are selling a house. To summarize, the agent thought that open houses were a waste of time with only nosy neighbours dropping in to check out your belongings. I […]

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In Canada, if you buy a house and have less than a 20% down payment, you have to pay a CMHC (Canada Mortgage and Housing Corporation) fee to insure the mortgage.  It should be the goal of all home buyers to have a larger down payment, but it’s not always possible. One scenario is where someone […]

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Rob Carrick wrote about a Vancouver couple who sold their house recently with the idea that they would rent for a while and then buy back into the real estate market after the coming crash. I know a couple who did this same move in Toronto.  They might make out like bandits in the end, […]

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There are some hot real estate markets in Canada, namely Toronto and Vancouver.  One of the results of a hot market is a tendency for sellers to underprice their houses in order to create a bidding war.  This benefits the seller because it speeds up the selling process and they might get an above-market sale […]

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As a home owner, I’ve seen various methods of estimating annual home maintenance costs. These methods involve calculating a percentage of your home value – usually between one to four per cent, and using that value as the annual maintenance estimate. Being a bit of a skeptic, I never had much faith in these estimation […]

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The recent agreement to open up the MLS real estate database to agents working for a flat fee, means that it will be lot easier for people to sell their homes without hiring a commissioned agent. Previously, sellers without commissioned agents couldn’t list their homes on MLS which made selling without an agent, a lot […]

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One of the great things about being a home owner is that you can spend all kinds of cash on your house and then pretend you are making money on your “investment”.  The way to accomplish this, is to complete a renovation, and then assume that the value of your house has increased by at […]

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Real Estate Valuation

by Mr. Cheap

I was recently up at my condo (there have been problems with the fuse box, the dryer keeps blowing out fuses) and I got talking to one of the neighbours I’ve seen up there a few times. He was quite interested in what I’d paid for the condo and has told me repeatedly that he […]

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