tag:blogger.com,1999:blog-7215468073809398772024-02-19T11:35:32.584-05:00Ben Sage - Moving WoodstockBen Sage, Sales Representative. <a href="http://www.bensage.com">My Personal Website</a> <a href="http://www.oxfordcountyhomes.ca">RE/MAX a-b Realty Ltd., Brokerage. </a>519-536-7535. www.a-brealty.comBen Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.comBlogger120125tag:blogger.com,1999:blog-721546807380939877.post-82297166583713013442012-07-26T17:06:00.001-04:002012-07-26T17:06:11.096-04:00Great news for Woodstock! Sysco announces huge distribution facility....<div><p>“Good Things” Come to Woodstock:</p>
<p>Sysco Plans to Construct Distribution Center in Commerce Way Business Park</p>
<p>Woodstock, Ontario (July 26, 2012) -- The City of Woodstock has reached an agreement to sell 57 acres of vacant industrial land in the Commerce Way Business Park to Sysco Canada, where it plans to build a 400,000-square foot (37,160 m 2 ), state-of-the-art food distribution facility. Construction is expected to start as early as this fall.</p>
<p>Mayor Pat Sobeski welcomed the official announcement of Sysco’s investment in the community by saying, “We are extremely pleased to be able to confirm that Sysco has selected Woodstock for this important investment. Sysco is a Fortune 75 company, and their decision to invest in Woodstock says plenty about the benefits our community can offer a new or expanding business.”</p>
<p>“Sysco Canada is pleased to be locating our newest facility in this region to Woodstock and the Commerce Way Business Park,” said Rodney Stroud, market president of Sysco Canada-East and president of Sysco Central Ontario. “This reinforces our commitment to be our Ontario customers’ most valued and trusted business partner. We are excited about the location, the surface-roads infrastructure, and the ability to serve our current customers and grow our business from a state-of-the-art distribution center.”</p>
<p>Sysco has agreed to pay approximately $2.7 million (CND) for the land. Plans call for Sysco’s facility to have approximately 89,000 square feet of freezer space; 49,000 square feet of cooler space; 41,000 square feet of cold dock space; a 101,000-square foot dry warehouse; a 31,000-square foot dry dock; 17,000 square feet for material handling and equipment storage; and 67,000 square feet of office space.</p>
<p>Mayor Sobeski noted “this investment is an excellent example of Woodstock’s ongoing efforts to diversify the local economy.”</p>
<p>City staff worked diligently to secure the Sysco investment for well over a year. Through the process, Woodstock advanced from a long list of prospective communities to a short list of locations that were invited to respond to a formal request for proposal, and ultimately to a preferred site for the company’s investment.</p>
<p>Development Commissioner Len Magyar welcomed Sysco to Woodstock’s business community noting, “This announcement is great news for our community on so many fronts. This investment represents a significant land sale, a huge construction project and the creation of good paying jobs. As a bonus the investment comes from a company (Sysco) with a great reputation and a long-term commitment to doing business in southern Ontario”.</p>
<p>Sysco Corporation, headquartered in Houston, Texas, sells, markets and distributes food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home, primarily in the United States and Canada. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. The company operates 177 distribution facilities serving approximately 400,000 customers. For the fiscal year 2011 that ended July 2, 2011, the company generated record sales of more than $39 billion.</p>
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<p>City of Woodstock Contacts</p>
<p>Mayor Pat Sobeski, City of Woodstock Phone: (519) 539-2382 begin_of_the_skype_ highlighting Email: mayor@city.woodstock.on.ca</p>
<p>Len Magyar, Development Commissioner Phone: (519) 539-2382 Ext 2112 Email: lmagyar@city.woodstock.on.ca</p>
<p>Sysco Contact</p>
<p>Charley Wilson, Vice President-Corporate Communications</p>
<p>Phone: (281) 584-2423</p>
<p>Email: wilson.charley@corp.sysco.com</p>
</div><div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-2783436492836279702012-06-01T14:09:00.003-04:002012-06-01T14:09:44.760-04:00What's up with Condos in Woodstock?Woodstock is home to a wide variety of Condominium options, from apartment-style low-rise condos priced from $60-$85,000 to large ranch condos pricing at $300k+. <br />
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The sales activity for the year thus far looked like this:<br />
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There have been 23 condominiums sold, compared with 61 condos listed for sale. As of June 1st, there are 54 Condos listed for sale in Woodstock. <br />
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The majority of listed and sold condos continues to be the Townhouse style condo, representing 17 of the 23 sales, and 35 of the 54 condos currently listed for sale in Woodstock.<br />
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The average days on market for a condominium in Woodstock is a mind boggling 170 (compared to 88 DOM for residential freehold).<br />
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Year to date average sale price of Condos is up significantly, to $165,000. The previous year over year averages are as follows:<br />
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2011 - $149,000<br />
2010 - $146,000<br />
2009 - $157,000<br />
2008 - $139,000<br />
2007 - $143,000<br />
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This higher average so far this year can be explained by the presence of several higher priced condos compared to years past, as well as fewer entry level, apartment style condos. <br />
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With condominiums spanning such a wide array of types and price ranges, condo ownership remains a good option for many different family types in Woodstock, and it appears as though the affordability has remained somewhat steady throughout the past 5 years. Condo fees have appreciated somewhat in some of the developments in Woodstock, but remain constant at other developments, moving only in line with inflation. <br />
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Please contact me with any questions you might have about this information, or any other condominium related comments!<br />
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Ben Sage, Sales Representative.
<a href="http://www.facebook.com/SageAdviceRealEstate" target="_blank"> www.facebook.com/SageAdviceRealEstate </a>
<a href="http://www.bensage.com/">www.bensage.com</a>
<a href="http://www.oxfordcountyhomes.ca/" target="_blank"> www.oxfordcountyhomes.ca</a>
RE/MAX a-b Realty Ltd., Brokerage.
www.a-brealty.com<div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-46344120170779620952012-03-20T15:17:00.001-04:002012-03-21T09:42:55.411-04:00Who really "wins" in a bidding war?With the Toronto market basically on fire, and decent performance in our local market in Woodstock, its time to discuss "bidding wars" <br />
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<b>First, I'd like to talk about terminology:</b> <br />
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I hear a lot of my cohorts in the Real Estate business use sports / competitive terminology to describe the process of offering on a home in a multiple offer situation. I often hear colleagues say things like "we lost our second bidding war in the past week" or "my buyers won in a bidding war!" It reminds me of how emotional the home buying process is for our clients. I am not a huge fan of inserting even more emotion into the situation by using motivational terms like WIN or LOSE.... I question whether being a "Winner" in a bidding war has a long term effect on the happiness of our clients. Sure, they "got" the house they "had to have" however, it is likely they paid too much for the home, and also likely that they went in without conditions that SHOULD have probably been in the offer to protect the buyer. Hopefully none of those decisions come back to haunt the Buyer, but the likelihood is that they will.<br />
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<b>So you've just found out the house you LOVE is going into multiple offers.... What to do....</b><br />
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Well, if you're a rational thinker, and not tempted by your emotions, in some cases you have the option of walking away. In some white-hot markets like Toronto, you may have to wait for the market to soften in order to buy a home. Don't worry, it may seem like forever, but it will happen at some point.<br />
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If you're absolutely smitten, and/or you HAVE to buy the home, here's what you need to do:<br />
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<b>1. Remove as many conditions as you are comfortable removing. </b> Make sure you have a solid preapproved for your financing, and that you are comfortable with the conditions on the pre-approval. For example, that you have all of your letters of employment, paycheck stubs, and have paid off your consumer debts. <a href="http://www.moneyville.ca/article/1132345--never-buy-a-house-without-a-home-inspection" target="_blank">I would never recommend not getting a home inspection</a>, but if you're confident that you know the product in question, or you're a handy person, eliminating the home inspection clause can be the clincher for a multiple offer situation. You can also get a home inspection done BEFORE you make an offer, with the seller's approval. Minimize or eliminate as many of the other conditions as possible from your offer.<br />
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<b>2. Put your deposit on steroids.</b> The deposit is the only protection that a seller has if you decide to walk from the deal. Make it as large as you can afford, if you are serious about buying the house. <br />
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<b>3. Get your agent to go fishing. </b> Is closing date important to the sellers? Are you flexible on close? That can be HUGE for a seller. Do they LOVE their pistachio green electric stove? Better not ask for it to be included. Do they have white doily lace curtains that you'll just rip down anyway? Leave them off the offer. What I'm getting at here, is that a properly trained negotiator (Your <a href="http://www.bensage.com/WhatIS%22Representation%3F%22.ubr" target="_blank">BUYER AGENT</a>) can call the listing agent and <i>go fishing</i> for clues that might aide your negotiations. A solid listing agent won't divulge any motivations, but we all know that no two Realtors are created equal... It's worth a try. <br />
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<b>4. Know your comparables.</b> Your <a href="http://www.bensage.com/WhatIS%22Representation%3F%22.ubr" target="_blank">BUYER AGENT </a>can provide you with recently sold comparable homes, and interpret the information contained herein. Coupled with market trend information, he/she can advise you on an accurate market value estimate, and what offer price should be fair, given your conditions.<br />
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<b>5. Put your best foot forward</b>. Although as mentioned earlier, I dislike the "win/lose" terminology associated with multiple offers, it's best to have given it your best shot and "lost" than to hold back and regret it. Don't be silly though, like that guy who paid<a href="http://www.theglobeandmail.com/life/home-and-garden/real-estate/buying-and-selling/this-toronto-bungalow-sold-for-421800-over-asking-yes-really/article2362078/" target="_blank"> $421,800 over asking price.</a> Fairly certain there will be some regret in that situation, should the need to sell arise in, oh, say, the next decade.<br />
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<b>6. HAVE FUN. </b>Most consumers only buy a home once every 3.5 - 5 years. If you happen to find yourself buying during a feeding frenzy, take it all in. After all, its the kind of thing they make TV shows out of!<br />
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Ben Sage, Sales Representative. <a href="http://www.facebook.com/SageAdviceRealEstate" target="_blank"> www.facebook.com/SageAdviceRealEstate </a> <a href="http://www.bensage.com/">www.bensage.com</a> <a href="http://www.oxfordcountyhomes.ca/" target="_blank"> www.oxfordcountyhomes.ca</a> RE/MAX a-b Realty Ltd., Brokerage. www.a-brealty.com<div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-56360913961402540682012-03-15T12:40:00.000-04:002012-03-15T12:40:32.267-04:00We safeguard your private info. The government wants to crack it wide open....Original Press Release <a href="http://photosrv.filogixdms.com/photosrv/resources/WSON/b/1367519/PrivacyMatters_launch.pdf" target="_blank">HERE</a><br />
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Competition Bureau Threatens to Dismantle Privacy Safeguards of Home Sales... 75% of Ontarians Opposed<br />
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March 14, 2012 – Today, the Toronto Real Estate Board (TREB) released the results of an Angus Reid Vision Critical poll. The vast majority of Ontarians clearly expressed their opposition to abandoning the privacy safeguards of the current MLS® system.<br />
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When asked about the consequences of the Competition Bureau’s actions, Ontarians expressed concern:<br />
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• 75% of Ontarians believe that personal information such as name and final sale price should be kept<br />
confidential by REALTOR® professionals. Commissioner Aitken wants to release this information.<br />
• 70% of homeowners do not want their personal contact information released to the public. Commissioner<br />
Aitken wants to release this information.<br />
• 67% of Ontarians oppose any measure to make personal contact information such as name and address<br />
available to others who are not subject to a professional code of conduct. Commissioner Aitken wants to<br />
release this information.<br />
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“The results of this poll are overwhelming,” said TREB President Richard Silver.” TREB strongly believes that REALTORS® have an obligation to protect consumers’ personal information. That’s why TREB and REALTOR® Members are fighting for the privacy rights of consumers.”<br />
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The Competition Bureau is taking action that would force TREB to abandon the safeguards in the MLS® system and make personal information publicly available on the Internet, threatening the privacy and safety of GTA consumers.<br />
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If the Competition Commissioner gets her way, consumers’ private information, which is currently protected on our secure MLS® system, would become freely available on the Internet, including:<br />
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• Seller’s name and address<br />
• Property floor plans<br />
• Sensitive Property access information<br />
• Negotiated sale price<br />
• Mortgage details<br />
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“Ontarians clearly oppose what Commissioner Aitken is trying to do. They’ve said they want their personal and private information kept confidential,” said Von Palmer, Chief Government and Public Affairs Officer and Chief Privacy Officer for TREB.<br />
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If Commissioner Aitken gets her way, Ontarians won’t. Privacy matters. TREB is standing up for GTA consumers.<br />
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Visit <a href="http://www.protectyourprivacy.ca/">www.ProtectYourPrivacy.ca</a> for more information.<br />
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Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 34,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada’s largest real estate board<br />
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Ben Sage, Sales Representative. <a href="http://www.facebook.com/SageAdviceRealEstate" target="_blank"> www.facebook.com/SageAdviceRealEstate </a> <a href="http://www.bensage.com/">www.bensage.com</a> <a href="http://www.oxfordcountyhomes.ca/" target="_blank"> www.oxfordcountyhomes.ca</a> RE/MAX a-b Realty Ltd., Brokerage. www.a-brealty.com<div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-61909319958630285122012-03-14T10:01:00.001-04:002012-03-14T10:01:49.661-04:00Yard Sale for the Cure 2012 COMING SOON!Hello Friends,<br />
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If you're anything like me, you've started (or are at least THINKING about starting) your spring cleanup. Sorting through stuff that's been hanging around for a while, thinking of what to get rid of and what to hang on to for another year. <br />
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I'd like to ask that as you're cleaning / tidying for spring, if you'd think about me, and the annual commitment that my brokerage undertakes to raise money for the <b>Canadian Breast Cancer Foundation.</b> Every year, the Realtors at my office pool their resources and throw a huge Yard Sale! This year, the event will be on <b>Saturday, May 26, 2012. </b>Venue not yet confirmed.<br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhKrd4zbX3ByYf5rSUr-m1Djez6oju5jIpcTY4xUKmodBLZGanM2aoDdQs92CKfCYsTmF__h2FDW32ZkcUhZwC2n6e_iuJI1Qi3EYaSaDUs1iarMcgYNN3btggoM5168CTngbNtmDZ0t8Xa/s1600/remax-yard_sale_for_the_cure-canadian_breast_cancer_foundation.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhKrd4zbX3ByYf5rSUr-m1Djez6oju5jIpcTY4xUKmodBLZGanM2aoDdQs92CKfCYsTmF__h2FDW32ZkcUhZwC2n6e_iuJI1Qi3EYaSaDUs1iarMcgYNN3btggoM5168CTngbNtmDZ0t8Xa/s1600/remax-yard_sale_for_the_cure-canadian_breast_cancer_foundation.jpg" /></a></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEizpnxMjp_s2hqsP69Q9d4aPlwygwRcfJlyHVZJIqsR4l-BKSgiomEiTl-LGiz6cjU51XlwHWcp0mh1KbX8oy3-5xJypKIEmJoE2sn74AlEDCEExBldrjcd_qiPmCBpSGOGV3RBFaDMESlg/s1600/yardsale.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"></a></div><br />
We will be having <b>Drop off Days</b> in the coming months, so stay tuned to this space for more information on those dates and locations. <br />
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What we need is gently used items of reasonable value to sell at the yard sale! Unfortunately we can't take large appliances, large furniture, clothing, or old electronics. Anything else is fair game!!!<br />
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Please set aside any items of value, and either bring them to a drop off location, or give me a shout, and I'll happily come and pick up the stuff!<br />
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Ben Sage, Sales Representative. <a href="http://www.facebook.com/SageAdviceRealEstate" target="_blank"> www.facebook.com/SageAdviceRealEstate </a> <a href="http://www.bensage.com/">www.bensage.com</a> <a href="http://www.oxfordcountyhomes.ca/" target="_blank"> www.oxfordcountyhomes.ca</a> RE/MAX a-b Realty Ltd., Brokerage. www.a-brealty.com<div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-9719258807523602412012-03-08T09:35:00.000-05:002012-03-08T09:35:14.992-05:00Ben's thoughts on a Retirement Plan for a low-rate world.Since 2007 I have been a licensed <a href="http://www.bensage.com/" target="_blank">Real Estate Salesperson</a>, and since 2008, I have also been a Real Estate Investor. More or less from the start of my career in the Real Estate business, I have seen a low rate environment. <br />
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The persistent low rates have caused prices to remain stable, or increase in several markets, despite a tumultuous economic background. The have allowed homeowners to refinance and take advantage of lower payments or shorter <a href="http://en.wikipedia.org/wiki/Amortization" target="_blank">amortizations</a>, and in some cases may have saved homeowners from default (perhaps after a job loss, or layoff). <br />
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If you have read the news at all in the past two years, you've likely seen repeated messages from Mark Carney at the Bank of Canada, warning Canadians to stop gorging on cheap credit, as many Canadians may be leaving themselves vulnerable to shocks when rates inevitably move upwards. At the same time, you're seeing messaging from Banks and Investment firms claiming that the current crop of Baby Boomers is about to begin retiring (The first of the BB's turns 65 in 2012.... Yikes), and that many of them are entering their retirement years without sufficient savings to live the type of lifestyle they have grown accustomed to in their working years. In addition, we're now entering into an era of fiscal austerity in Canada, and especially Ontario. With government programs such as Old Age Security and Canada Pension Plan in a state of constant revision, can you really afford to be complacent with your retirement plans? The banks and the investment firms all say "Save your money," or "Top up your RRSP" or "Open a TFSA" etc. etc. etc. But in a low rate, stagnant growth, high risk monetary environment, who feels confident socking 10% of their income away in an RRSP? You could always invest in GIC's, but the paltry 1- 1.5% growth offered in these guaranteed investments will result in a net loss, as we see inflation surging forward at over 2%. Are you counting on a Pension? I wouldn't. Who knows what might happen to that pension you've socked your money into for 20 + years? Many examples exist TODAY of Pension mismanagement. <br />
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And here's my point. If you are worried about the risk exposure or lack of growth in your RRSP portfolio, mismanagement of your pension, or cuts to government social assistance for retirees, and you want to explore a different avenue for investment, <b>TAKE CHARGE of your retirement plan. </b>Look towards Investment Real Estate as a supplementary income for your retirement years. <b>USE MY EXPERIENCE and THE CURRENT MARKET SITUATION TO YOUR BENEFIT. </b><br />
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So, why aren't you using today's low rate environment to your advantage? Leveraging the bank's cheap money and the practical value of real estate to improve your equity position and ultimately build a solid retirement income level is a great plan to supplement your existing RRSP plans, company pension, and government assistance. <br />
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<b>It's too much work, Right? Wrong. Managing income properties isn't overly difficult. As with any investment strategy, there ARE some risks involved in it, obviously, however increasing numbers of young adults are more interested in risk that they can understand and control, rather than risk exposure at the hands of some bureaucrats in the European Union, or the United States Senate. With my experience, we can get you on a plan to minimize your risk exposure and start building the portfolio that will earn you the income level you desire in your retirement years. This takes time though, so we should start NOW!!!</b><br />
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Banks are now fighting for your mortgage money, with 5 year fixed rate mortgages at 2.99% as of March 7, 2012, and 10 year fixed rates at 3.99%. Crazy! Seize this opportunity. <br />
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Come talk to me today, and I'll show you my Real Estate Investment portfolio, and get you started on the path to passive income in retirement. <br />
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Ben Sage, Sales Representative. <a href="http://www.facebook.com/SageAdviceRealEstate" target="_blank"> www.facebook.com/SageAdviceRealEstate </a> <a href="http://www.bensage.com/">www.bensage.com</a> <a href="http://www.oxfordcountyhomes.ca/" target="_blank"> www.oxfordcountyhomes.ca</a> RE/MAX a-b Realty Ltd., Brokerage. www.a-brealty.com<div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-84017829915662832982012-02-23T11:47:00.000-05:002012-02-23T11:47:21.672-05:00Woodstock Recreation and Leisure FairThe 8th annual event is Sunday, March 4, 1-4 p.m. at Cowan Park on Ridgewood Drive. <br />
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Organized by Woodstock Recreation Advisory Committee this free community event features information on minor sports, adult sports, hobbies (photography, crafts, etc), groups who research history, collecting clubs, choirs, dancing, acting, singing, musicians (arts and creative arts), service clubs, and sports clubs to join -- perhaps badminton, cycling, lawn bowling, curling and even kids' tackle football. <br />
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For more details contact Glynis Hill at the City's Community Services department at 539-2382. <br />
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Ben Sage, Sales Representative. <a href="http://www.facebook.com/SageAdviceRealEstate" target="_blank"> www.facebook.com/SageAdviceRealEstate </a> <a href="http://www.bensage.com/">www.bensage.com</a> <a href="http://www.oxfordcountyhomes.ca/" target="_blank"> www.oxfordcountyhomes.ca</a> Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON<div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-36050402770977241332012-02-22T16:28:00.000-05:002012-02-22T16:28:27.849-05:00Title Insurance - More Than Just Fraud ProtectionHow much do you really know about title insurance? This article explains how title insurance can protect you against more than just fraud...<br />
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<a href="http://www.mortgagebrokernews.ca/features/whats-in-a-title/123464/#lastest">What's in a title? - Mortgage Broker News</a><br />
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Ben Sage, Sales Representative.<br />
Re/Max a-b Realty Ltd., Brokerage.<br />
519-536-7535<br />
521 Dundas St.<br />
Woodstock, ON N4S 1C3<br />
<a href="http://www.facebook.com/SageAdviceRealEstate" target="_blank">www.facebook.com/SageAdviceRealEstate</a><br />
<a href="http://www.bensage.com/">www.bensage.com</a><br />
<a href="http://www.oxfordcountyhomes.ca/" target="_blank">www.oxfordcountyhomes.ca</a><div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-46934360751963750592012-02-09T15:20:00.000-05:002012-02-09T15:20:50.481-05:00Whats Happening in Woodstock, Feb 2012 EditionHello again!<br />
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It's time for a market update. These statistics reflect Residential Real Estate Sales information (excluding condominiums) in Woodstock, Ontario. These statistics were generated using information from the Multiple Listing Service.<br />
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For the year end Average Sales, we have once again seen a slight increase in average sale prices in Woodstock. Woodstock Residential sales averaged $218,102 in 2011, up 3% from 2010.<br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgehqOnLx3j_oMykPIZzYDmYfTpUwTrEgw8mORxhvQNkJphUOeqe89BXlIM7H5y38VeKHRS-rKTfnzaMmbEFlJ6mXqg8vQuzAIJwgDUHhbosM58ystP_ofi459TzADTjox2XX9YtmW0aw9U/s1600/Woodstock+Average+Annual+Sale+Prices.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="103" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgehqOnLx3j_oMykPIZzYDmYfTpUwTrEgw8mORxhvQNkJphUOeqe89BXlIM7H5y38VeKHRS-rKTfnzaMmbEFlJ6mXqg8vQuzAIJwgDUHhbosM58ystP_ofi459TzADTjox2XX9YtmW0aw9U/s200/Woodstock+Average+Annual+Sale+Prices.jpg" width="200" /></a></div><br />
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It looks like the Average Sale Price for a Residential property in Woodstock in January 2012 was $226,245 which is up from $225,082 in December of 2011, up 1% over January of 2011. <br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDohXjUZamx9sZzG7LjFrIBGjYuY6ZYjFHOFXRVmmsvSSTMBvBWWGKjBJf3-dypHkOBwEeM6hJHH2RLMzxyG8QgeKEAww90AUlb0XYT-smU_j5eyEnN8dq9ceNzroF2N4TDfk5r0f2-LgX/s1600/Woodstock+Residential+Average+Sale+Price+By+Month.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="112" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDohXjUZamx9sZzG7LjFrIBGjYuY6ZYjFHOFXRVmmsvSSTMBvBWWGKjBJf3-dypHkOBwEeM6hJHH2RLMzxyG8QgeKEAww90AUlb0XYT-smU_j5eyEnN8dq9ceNzroF2N4TDfk5r0f2-LgX/s200/Woodstock+Residential+Average+Sale+Price+By+Month.jpg" width="200" /></a></div><br />
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This chart shows current Residential Listings, compared to Residential Homes Sold in Woodstock. As of Feb 1, 2012, Woodstock showed 266 Active homes for sale, and 30 sold within the month of January.<br />
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<div class="separator" style="clear: both; text-align: center;"><br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh0LR3_-qn6xMBEhRAj9azj0hMditcBLCOZDGdPHO4CnfpQjndXpdKsKQ9iE-_K62MEs4Grc3sOXc7xqP56fyMeCbKIRkml7mWIb5FVTmRogiaKerOP1k3vYVKundU70wBBwyd2KST1jU_W/s1600/Active+vs+sold.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="164" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh0LR3_-qn6xMBEhRAj9azj0hMditcBLCOZDGdPHO4CnfpQjndXpdKsKQ9iE-_K62MEs4Grc3sOXc7xqP56fyMeCbKIRkml7mWIb5FVTmRogiaKerOP1k3vYVKundU70wBBwyd2KST1jU_W/s200/Active+vs+sold.jpg" width="200" /></a></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhUaeK36DWCnd3UcqE3CQEcnhFR42WkxQRqGQdOI78ucb6TXeC8nktsrq-xD9YV9FCy9EDlE4oO3dBMRpaJpwlGgRVq9GgHmyuSJ2jRd9REdEz0v0HbzwA1Dgu1TmdG3N8_48eKhYM5Q9-9/s1600/Woodstock_Active_and_Sold_Listings_.gif" style="margin-left: 1em; margin-right: 1em;"><br />
</a></div>I hope you find this information useful and informative - if you have any questions about this or other Real Estate related matters, please feel free to contact me!<br />
<br />
Ben Sage, Sales Representative. <a href="http://www.facebook.com/SageAdviceRealEstate" target="_blank"> www.facebook.com/SageAdviceRealEstate </a> <a href="http://www.bensage.com/">www.bensage.com</a> <a href="http://www.oxfordcountyhomes.ca/" target="_blank"> www.oxfordcountyhomes.ca</a> Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON<div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-14444355842485187412012-01-14T11:38:00.000-05:002012-01-14T11:38:24.968-05:00When is an 8% return on investment actually 35% ???Good day all!<br />
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Many of you know that I am not only a Real Estate Salesperson, but also a Real Estate Investor. The purpose of this blog post is to show how you can absolutely demolish returns expected through traditional stock-market investments through Real Estate Investment.<br />
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So, how is it possible to earn HUGE returns on your investment in this volatile marketplace?<br />
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Let's use my new listing at <a href="http://www.bensage.com/ActiveListings.php/Details/50#viewdetail" target="_blank">42 Vansittart Avenue in Woodstock</a> as an example.<br />
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Asking Price is $157,750.<br />
Both units are currently rented, grossing $16,800 annually. <br />
Landlord covers Property Taxes ($2,138 annually), Water ($1,100 annually), and Water Heater Rentals ($380 annually)<br />
You should probably have insurance too ($600 annually).<br />
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This leaves a NET OPERATING INCOME (<b>NOI</b>) of <b>$12,582. </b><br />
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When you consider that you'll earn $12,500 on a purchase price of $157,750, you end up with a RETURN ON INVESTMENT (<b>ROI</b>) of 7.92% or, <b>8%. </b><br />
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This 8% return on investment assumes that you paid $157,750 in CASH for the property. <br />
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Not a bad return, when I consider what my Mutual Fund portfolio looks like at the end of 2011......but....<br />
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<span style="font-size: large;"><b>BEHOLD the POWER OF LEVERAGING! </b></span><br />
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Suppose, however, you decided take out a mortgage on the property, as opposed to pay cash for the full amount. How does the investment look then?<br />
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Well, you'd need a 20% downpayment (thanks to the instability in the global markets, investors need to pay 20% upfront in order to purchase "speculative" property).<br />
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So, your 20% downpayment would be <b>$31,550.</b><br />
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Lets assume closing costs at 1.5% (may be more, may be less, depending on certain circumstances). Another <b>$2,366.25.</b><br />
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Your total out of pocket expense would be <b>$33,916.</b><br />
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We now must add the cost of borrowing that money into our expenses. Year 1 on a mortgage (using 4% fixed/15 years) would cost you $4,893, reducing your ROI to $7,688<br />
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Considering you've only invested $33,916, and you're earning $7,688 on that investment, it now shows a return of <b>23%.</b><br />
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<span style="font-size: large;"><b>TRADITIONALLY, PROPERTY VALUE IS AN APPRECIATING ASSET</b></span><b> </b><br />
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Calculating Capital Appreciation based on 2.5% annual increase in property values (historically, increases have been much higher than that, however, lets be reasonable here - historic increases are largely unsustainable, and a more conservative approach is prudent) shows a further gain of $3,950 in equity. <br />
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<b>LOOKING AT THE BIG PICTURE.....</b><br />
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After the first year, you've seen a 23% return on your cash investment, and you've seen an appreciation in the asset of 2.5% or $3,950 (representing a further 12% return on your cash investment), for a <b>TOTAL RETURN ON CASH INVESTMENT of 35% in your FIRST YEAR!</b><br />
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<b>MONEY OUT = $33,916</b><br />
<br />
<b>CASH RETURN = $7,688</b><br />
<b>CAPITAL APPRECIATION = $3,950 </b><b></b><br />
<b><br />
</b><br />
<div style="text-align: center;"><span style="font-size: x-large;"><b>(TOTAL RETURN = $11,638)</b></span> </div><div style="text-align: center;"><br />
</div><div style="text-align: center;">Divided By<b> </b></div><div style="text-align: center;"><br />
</div><div style="text-align: center;"><b><span style="font-size: x-large;">(TOTAL INVESTMENT = $33,916)</span> </b></div><div style="text-align: center;"><br />
</div><div style="text-align: center;"><b> </b>equals<b> </b></div><div style="text-align: center;"><br />
</div><div style="text-align: center;"><b><span style="font-size: x-large;">34% ROI</span></b></div><div style="text-align: center;"><br />
</div><div style="text-align: center;"><b><span style="font-size: x-large;">CALL ME TODAY TO GET STARTED! </span></b></div><br />
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Ben Sage, Sales Representative. <a href="http://www.facebook.com/SageAdviceRealEstate" target="_blank"> www.facebook.com/SageAdviceRealEstate </a> <a href="http://www.bensage.com/">www.bensage.com</a> <a href="http://www.oxfordcountyhomes.ca/" target="_blank"> www.oxfordcountyhomes.ca</a> Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON<div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-49242498529783550322011-12-01T10:46:00.000-05:002011-12-01T10:46:24.563-05:00What's happening in Woodstock, December 2011Hello again!<br />
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It's time for a market update. These statistics reflect Residential Real Estate Sales information (excluding condominiums) in Woodstock, Ontario. These statistics were generated using information from the Multiple Listing Service.<br />
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It looks like the Average Sale Price for a Residential property in Woodstock in November 2011 was $207,325, which is down from $221,112 in October of 2011, but remains up 4% over November of 2010!<br />
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<div class="separator" style="clear: both; text-align: center;"></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEihvxETaD94EizFbr7h7idhyAqDqJn3UQcXmL_I10ueHA77EsdrqwDBTdSeS70_y0RcvuKdCCQZDp4vTUtN085iW4TsfVerZn_i3AXBa5V3qauQaJMa_ru35CfjpHMp5k1IVeQgnmMFOuAT/s1600/Woodstock_Residential_Average_Sale_Prices.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEihvxETaD94EizFbr7h7idhyAqDqJn3UQcXmL_I10ueHA77EsdrqwDBTdSeS70_y0RcvuKdCCQZDp4vTUtN085iW4TsfVerZn_i3AXBa5V3qauQaJMa_ru35CfjpHMp5k1IVeQgnmMFOuAT/s400/Woodstock_Residential_Average_Sale_Prices.gif" width="400" /></a></div><br />
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This chart shows current Residential Listings, compared to Residential Homes Sold in Woodstock. As of November 2011, Woodstock showed an Absorption Rate of 7.2 months (meaning at it's current inventory and sales levels, our market would run out of inventory in 7.2 months).<br />
<br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjkOj78oVmf8ZBMVZphgam68R1jSmQGdK7UOQ4b3RWHnu42XLzodheKuqFeoGjKhP7cbgZT3ly59inMdJ93wCcaPWzqeu0iHudfgl0oMcXkvBSuNoMm4dXykYdGSYp9hhlnDtJs6usaU_zZ/s1600/Woodstock_Active_and_Sold_Listings_.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="332" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjkOj78oVmf8ZBMVZphgam68R1jSmQGdK7UOQ4b3RWHnu42XLzodheKuqFeoGjKhP7cbgZT3ly59inMdJ93wCcaPWzqeu0iHudfgl0oMcXkvBSuNoMm4dXykYdGSYp9hhlnDtJs6usaU_zZ/s400/Woodstock_Active_and_Sold_Listings_.gif" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhUaeK36DWCnd3UcqE3CQEcnhFR42WkxQRqGQdOI78ucb6TXeC8nktsrq-xD9YV9FCy9EDlE4oO3dBMRpaJpwlGgRVq9GgHmyuSJ2jRd9REdEz0v0HbzwA1Dgu1TmdG3N8_48eKhYM5Q9-9/s1600/Woodstock_Active_and_Sold_Listings_.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><br />
</a></div>I hope you find this information useful and informative - if you have any questions about this or other Real Estate related matters, please feel free to contact me!<br />
<br />
<br />
Ben Sage, Sales Representative. Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON<br />
<a href="http://www.facebook.com/SageAdviceRealEstate" target="_blank"> www.facebook.com/SageAdviceRealEstate </a> <a href="http://www.bensage.com/">www.bensage.com</a> <a href="http://www.oxfordcountyhomes.ca/" target="_blank"> www.oxfordcountyhomes.ca</a><br />
<br />
<br />
Ben Sage, Sales Representative. <a href="http://www.facebook.com/SageAdviceRealEstate" target="_blank"> www.facebook.com/SageAdviceRealEstate </a> <a href="http://www.bensage.com/">www.bensage.com</a> <a href="http://www.oxfordcountyhomes.ca/" target="_blank"> www.oxfordcountyhomes.ca</a> Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON<div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-9338430169874431982011-12-01T10:14:00.001-05:002011-12-01T10:15:03.949-05:00House Prices Flatten in September (on a National Level)After nine straight months of increases in the national home price, the numbers flattened in September, according to the Teranet—National Bank House Price Index out today.<br />
Both the national composite of the recently expanded 11-city index remained at 149.52 in September.... (Click <a href="http://www.canadianrealestatemagazine.ca/news/item/917-house-prices-flatten-in-september">HERE</a> to read the complete article.)<br />
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Ben Sage, Sales Representative. <a href="http://www.facebook.com/SageAdviceRealEstate" target="_blank"> www.facebook.com/SageAdviceRealEstate </a> <a href="http://www.bensage.com/">www.bensage.com</a> <a href="http://www.oxfordcountyhomes.ca/" target="_blank"> www.oxfordcountyhomes.ca</a> Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON<div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-82325030151611353942011-11-10T15:06:00.002-05:002011-11-10T15:12:15.272-05:00Oxford County unveils new website. The County of Oxford today revealed phase I of it's newly developed website. The site features a new "glossier" look, similar to other websites, streamlined navigation, upgraded search function, new mapping tool, and SMS service for news, events, tenders and other updates.<br />
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Take a minute and have a look:<br />
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<a href="http://www.oxfordcounty.ca/">http://www.oxfordcounty.ca/</a><br />
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Ben Sage, Sales Representative. Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON<br />
<a href="http://www.facebook.com/SageAdviceRealEstate" target="_blank"> www.facebook.com/SageAdviceRealEstate </a> <a href="http://www.bensage.com/">www.bensage.com</a> <a href="http://www.oxfordcountyhomes.ca/" target="_blank"> www.oxfordcountyhomes.ca</a><div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-43203041695070289182011-11-10T12:15:00.001-05:002011-11-10T15:12:46.774-05:00What's Happening in Woodstock? November 2011Hello again!<br />
<br />
It's time for a market update. These statistics reflect Residential Real Estate Sales information (excluding condominiums) in Woodstock, Ontario. These statistics were generated using information from the Multiple Listing Service.<br />
<br />
It looks like the Average Sale Price for a Residential property in Woodstock in October 2011 was $221,112, which is up from $214,230 in September of 2011, and up almost 11% over October of 2010!<br />
<br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiKjuJOJbd7xPjjM9oa1cXzqoxKwYRBn36j0TjRiuOqbNe_PjzrQjNufMuQ4brf2dihgITVGOWJVk0sDR6ceRCJc0W4xKLF9-vGxfrnwslwkxh9RIrDxqW3FOvI7Rfp8nSBaKLghkAkCuJ9/s1600/Woodstock_Residential_Average_Sale_Prices_November2011.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiKjuJOJbd7xPjjM9oa1cXzqoxKwYRBn36j0TjRiuOqbNe_PjzrQjNufMuQ4brf2dihgITVGOWJVk0sDR6ceRCJc0W4xKLF9-vGxfrnwslwkxh9RIrDxqW3FOvI7Rfp8nSBaKLghkAkCuJ9/s400/Woodstock_Residential_Average_Sale_Prices_November2011.gif" width="400" /></a></div><br />
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Continued low interest rates, and lack of supply seem to be supporting values in Woodstock. <br />
<br />
This chart shows current Residential Listings, compared to Residential Homes Sold in Woodstock. As of October 2011, Woodstock showed an Absorption Rate of 6.5 months (meaning at it's current inventory and sales levels, our market would run out of inventory in 6.5 months).<br />
<br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhUaeK36DWCnd3UcqE3CQEcnhFR42WkxQRqGQdOI78ucb6TXeC8nktsrq-xD9YV9FCy9EDlE4oO3dBMRpaJpwlGgRVq9GgHmyuSJ2jRd9REdEz0v0HbzwA1Dgu1TmdG3N8_48eKhYM5Q9-9/s1600/Woodstock_Active_and_Sold_Listings_.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="332" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhUaeK36DWCnd3UcqE3CQEcnhFR42WkxQRqGQdOI78ucb6TXeC8nktsrq-xD9YV9FCy9EDlE4oO3dBMRpaJpwlGgRVq9GgHmyuSJ2jRd9REdEz0v0HbzwA1Dgu1TmdG3N8_48eKhYM5Q9-9/s400/Woodstock_Active_and_Sold_Listings_.gif" width="400" /></a></div>I hope you find this information useful and informative - if you have any questions about this or other Real Estate related matters, please feel free to contact me!<br />
<br />
<br />
Ben Sage, Sales Representative. Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON<br />
<a href="http://www.facebook.com/SageAdviceRealEstate" target="_blank"> www.facebook.com/SageAdviceRealEstate </a> <a href="http://www.bensage.com/">www.bensage.com</a> <a href="http://www.oxfordcountyhomes.ca/" target="_blank"> www.oxfordcountyhomes.ca</a><div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-63462820568636136682011-11-04T09:29:00.001-04:002011-11-10T15:12:59.902-05:00House prices to hold next year: CMHCOriginally seen in <a href="http://www.theglobeandmail.com/report-on-business/economy/housing/house-prices-to-hold-next-year-cmhc/article2225301/">The Globe and Mail</a><br />
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The housing market may be a boring place for the next year, according to CMHC, as the number of starts remains near current levels and resale prices hold steady.<br />
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In its fourth quarter market update, Canada Mortgage and Housing Corp. said mortgage rates would likely remain at historically low levels at least until the last half of 2012. The housing market’s fate is largely tied to rates, the agency said.<br />
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Economists and market watchers have predicted a variety of scenarios for house prices in the next year, with some suggesting prices could drop as much as 10 per cent by the end of 2012. Capital Economics goes a step further, having predicted a drop of 25 per cent in the next several years as demand weakens amid higher mortgage rates.<br />
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“Should rates move lower than projected, housing starts and MLS sales could be higher than expected and house prices could grow at a faster pace than forecast,” the report stated. “Alternatively, should financial market expectations improve and interest rates move higher than projected, housing starts and MLS sales could be lower than expected and house prices could grow at a slower pace than forecast.”<br />
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CMHC said there could be as many as 470,100 resales in Canada this year, and expects that number to rise to 485,500 in 2012.<br />
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“We expect balanced market conditions to prevail and the average MLS price to remain fairly flat to the end of 2012,” the report stated.<br />
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CMHC said 186,750 new homes would be built in 2012, compared to 191,000 for 2011. Analysts generally agree that at least 175,000 new homes are needed each year to meet demand from new families and immigration.<br />
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“Ontario, Saskatchewan and Nova Scotia’s growth will be the strongest, while Prince Edward Island and British Columbia are forecast to see modest growth,” CMHC said. “The other provinces, on the other hand, are expected to see decreases. In 2012, housing starts are forecast to increase in British Columbia, Alberta and Manitoba.”<br />
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Other highlights from the report:<br />
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· Posted mortgage rates will remain relatively flat until late 2012. For 2012, the one-year posted mortgage rate is expected to be in the 3.4 to 3.8 per cent range, while the five-year posted mortgage rate is forecast to be within 5.2 to 5.7 per cent.<br />
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· Single starts have rebounded coming out of the recession. After an increase in the third quarter of this year, they are expected to moderate before rising later in 2012.<br />
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· Since the beginning of 2011, new listings steadily outpaced existing home sales. As a consequence, the resale market has moved from sellers’ to balanced market conditions.<br />
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The agency said the economic outlook for the country was uncertain, making it difficult to forecast growth in the housing market.<br />
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“Sustained financial market uncertainty has heightened risks but, there are both upside and downside risks to the outlook,” the agency stated.<br />
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The positive: “Some upsides include the potential that the U.S. could recover stronger than is forecast, thus increasing U.S. employment and economic growth. This could, in turn, boost employment growth in Canada and lead to stronger than anticipated housing demand.”<br />
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The negative: “Some downsides include a slower than expected recovery for the U.S., reduced economic growth in emerging economies and a downturn in parts of Europe. Such events could result in slower employment growth in Canada, which could lead to lower demand for housing.”<br />
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Ben Sage, Sales Representative. Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON<br />
<a href="http://www.facebook.com/SageAdviceRealEstate" target="_blank"> www.facebook.com/SageAdviceRealEstate </a> <a href="http://www.bensage.com/">www.bensage.com</a> <a href="http://www.oxfordcountyhomes.ca/" target="_blank"> www.oxfordcountyhomes.ca</a><div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-82152744922725757652011-10-27T10:07:00.001-04:002011-11-10T15:13:21.813-05:00Is Zoopraisal Just a Fancy Word For "Wild Guess?" Article written by my colleague <a href="http://www.asifkhan.ca/">Asif Khan – Re/Max All-Stars</a><br />
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As word of Zoocasa’s new property value guessing game made it’s way around the internet, messages began to flow in from clients and colleagues. Is Zoopraisal a game changer or just simply a game? Can the values be relied upon? Is Brookfield not owned my Royal Lepage? Is this an invasion of my privacy? Will my ex now be able to find out the value of my home? Why are the numbers off by so much? All valid concerns, yet nothing to worry about. l’ll share a few of my thoughts here:<br />
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Appraising a property’s value can be as automated as diagnosing medical conditions through a computer program. Imagine going online, selecting your body type, sex, height and weight from four or five drop down boxes and then selecting symptoms from a field of three or four predetermined choices like cough, fever, rash, and loss of appetite, then have the computer generate a diagnosis. As the hourglass spins, you wait with great anticipation as your diagnosis is being determined. All of the sudden a box pops up and you now know you have pneumonia. How comfortable would you feel that the diagnosis is correct? Now let’s replace your health with your most important monetary asset – your home. How confident would you feel about your home’s value when determining the same by selecting from a few drop down boxes and choosing from a few predetermined fields?<br />
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CTV’s headline read “New service bypasses agents, offers free home appraisals”. There couldn’t have been a more misleading statement to lead off the report on Zoocasa’s new Home Appraisal system. In fact, the word “appraisal” should not even be mentioned in the same sentence/paragraph as this system. It is nothing more than a “wild guess”. It is ironic that the “Zoo” feels they can replace the human element when it comes to something as subjective as property values. Zoocasa’s business model is to have Realtors and Mortgage Brokers advertise on their site to fund it’s initiatives. Yet, obviously Zoocasa is creating a perception that they are a service which “bypasses agents” as this is the second time Zoocasa has been painted in this light. Is this not a classic case of biting the hand that feeds you? Zoocasa will argue that this is not the case and they are a “Realtor Friendly” site. However when the media is led to believe that Zoocasa is being built to “bypass agents” one would have a valid argument.<br />
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Today, Canadian Appraisers expressed their concern with the inability of Zoopraisal to provide true values to the consumer. With unique characteristics that can be found from home to home, it is unlikely that a computer generated value would be accurate. There are many factors to consider when pricing a property for sale or evaluating a price for purchase. Each home will have a wide variety of upgrades, updates and specific enhancements that increase or decrease it’s value from the average homes in the area. Outside of upgrades and enhancements, one needs to consider market conditions, competition, supply and demand. To rely on a computer generated value that is based on neighbourhood sales data – which may or may not be accurate – is misleading to the public.<br />
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The “Zoo Keepers” are working to persuade realtors to believe this new tool will benefit consumers and real estate professionals in determining true values for homes. On the contrary. Zoopraisal will confuse the general public even more by providing unattainable figures, thereby undermining the value of a Realtor and their ability to accurately determine the proper value of homes. To give you an example, I recently listed a home for $429,000. The home sold for very close to asking price and set a new record in it’s immediate area for price. The value of this home on Zoopraisal is stated to be $685,000. When searching my own home, which is valued at about $750,000, Zoopraisal gives me a value of approximately $594,000. Being a Real Estate Professional, I know Zoopraisal’s values are off base, however if I were a consumer and trusted the figures to be reliable, I would put myself in a compromising situation when pricing my property. Zoocasa’s failure to manage expectations from their launch of a fictitious value determination tool will cause a lot of problems as we move forward. If used for entertainment and taken with a grain of salt, it is a great way to spend a rainy afternoon. If relied upon for accuracy, which unsuspecting consumers will do, how will that affect not only the Real Estate industry, but also the banking industry when it comes to refinancing?<br />
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In my opinion, this upstart version of the USA’s Zillow may be positioning themselves to rival the MLS system however is it going to be a contender or just a pretender like others that have come and gone? They are riding on the coat tails of the circus that has been created by the Competition Bureau’s attack on the Real Estate industry to gain popularity, while endearing themselves to Realtors by providing banner ads for a fee. I love Zoocasa’s demographic information, and feel they do provide some value during the home buying process. I am disappointed with their venture into the “guesstimate” home valuation technique, and feel this will make a mockery of the property valuation process. As one of the first advertisers on Zoocasa, I’m disappointed in the direction they seem<br />
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headed. Signs at the Metro Zoo read “Do Not Feed The Animals”. The time may be here to apply the same advice at another “zoo” and protect my hands from being bitten.<br />
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Asif Khan, ABR<br />
Member of Re/Max Hall of Fame<br />
Re/Max All-Stars Realty Inc., Brokerage<br />
905-888-6222<br />
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Ben Sage, Sales Representative. Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON<br />
<a href="http://www.facebook.com/SageAdviceRealEstate" target="_blank"> www.facebook.com/SageAdviceRealEstate </a> <a href="http://www.bensage.com/">www.bensage.com</a> <a href="http://www.oxfordcountyhomes.ca/" target="_blank"> www.oxfordcountyhomes.ca</a><div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-61229301232534043562011-02-26T06:39:00.003-05:002011-11-10T15:13:48.626-05:00I am excited about Re/Max Curbside Marketing<div class="separator" style="clear: both; text-align: center;"></div><div class="separator" style="clear: both; text-align: center;"></div><div class="separator" style="clear: both; text-align: center;"><a href="http://www.bestagent.ca/images/Modules/CurbsideMarketing.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://www.bestagent.ca/images/Modules/CurbsideMarketing.jpg" /></a></div><br />
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For almost a year now (I keep telling you we're ahead of the curve), the office of <a href="http://www.oxfordcountyhomes.ca/">RE/MAX a-b Realty ltd</a> and its agents have been working with <a href="http://www.bensage.com/QRCodes%21.ubr">Quick Response Codes. </a>Many of us have implemented these codes into our marketing program, using them on our business cards for profile/contact information, or inserting them into feature sheets or onto lawn signs for quick access to information.<br />
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With the launch of Curbside Marketing, RE/MAX has made it absolutely simple to implement an advanced information system as a key part of marketing your listings.<br />
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For my listing clients, I am now including a custom sign rider (I'm sure you've seen these before) that doesn't simply have a URL on it (www.whateveraddress.com) as it has in the past. The sign rider will now contain TWO methods of gathering information; the first is a "<a href="http://en.wikipedia.org/wiki/Short_code">Short Code</a>" that you may text on your phone (free of charge, of course), and receive INSTANT information on the listing you're sitting in front of! (Photos, description, property description and details, as well as video!). The second is the trusty QR Code, which, for the more savvy Smartphone users, can be scanned by your phone's camera, and bring up the listing information without keying a single digit/letter into your phone!<br />
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Cool eh?<br />
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Watch this space for more, as I roll out this amazing service for my selling clients.<br />
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Ben Sage, Sales Representative. Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON<br />
<a href="http://www.facebook.com/SageAdviceRealEstate" target="_blank"> www.facebook.com/SageAdviceRealEstate </a> <a href="http://www.bensage.com/">www.bensage.com</a> <a href="http://www.oxfordcountyhomes.ca/" target="_blank"> www.oxfordcountyhomes.ca</a><div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-39672711565853622202011-02-11T12:06:00.000-05:002011-02-11T12:06:28.342-05:00Free Plug Friday on 104.7 Heart FMHello everyone!<br />
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Last week I had the extreme pleasure of being featured on <a href="http://www.1047.ca/">104.7 Heart FM's</a> FREE PLUG FRIDAY with Liz and John!<br />
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In case you're interested, here's how it sounded.<br />
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<object height="81" width="100%"> <param name="movie" value="http://player.soundcloud.com/player.swf?url=http%3A%2F%2Fapi.soundcloud.com%2Ftracks%2F10411105%3Fsecret_token%3Ds-Fg9WG&secret_url=true"></param><param name="allowscriptaccess" value="always"></param><embed allowscriptaccess="always" height="81" src="http://player.soundcloud.com/player.swf?url=http%3A%2F%2Fapi.soundcloud.com%2Ftracks%2F10411105%3Fsecret_token%3Ds-Fg9WG&secret_url=true" type="application/x-shockwave-flash" width="100%"></embed> </object> <span><a href="http://soundcloud.com/ben-sage-salesperson/ben-sage-remax-free-plug/s-Fg9WG">BEN SAGE, REMAX FREE PLUG FRIDAY HEART FM FEB. 4.11(2)</a> by <a href="http://soundcloud.com/ben-sage-salesperson">Ben Sage, Salesperson</a></span> <br />
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Ben Sage, Sales Representative. http://www.bensage.com http://www.oxfordcountyhomes.ca Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON<div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-1479338172323665152011-01-14T11:03:00.000-05:002011-01-14T11:03:14.994-05:00Panicky Beurocrats threaten to put a damper on the Real Estate Market again....In a chilling reminder of what happened to our market as of July 1st, 2010, it is today being speculated that Jim Flaherty, our wonderful Finance Minster may act to stem the scourge of consumer credit that us Canadians are apparently awash in. <br />
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Pundits have been ironically warning us for nearly a year, as our spending lifts the country further from the throws of a double dip recession, and distances us from our under-water American counterparts, that our growing household debt is a problem. <br />
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Am I talking about raising interest rates? Not likely at this point. This certainly wouldn't help our escalating Loonie keep pace with the rest of the world. What is being suggested today has far more sinister consequences for the real estate market. For buyers and sellers alike. <br />
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The reduction of the maximum mortgage amortization from 35 years to 30 years <a href="http://www.canequity.com/blog/2010-12-questioning-35-year-amortization/">(or even 25?).</a> <br />
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Two years ago, maximum amortizations were reduced from 40 to 35 years. The results on the Real Estate market were difficult to track, as local pricing / market trends were all over the place in 2008. <br />
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This time around, I'm 100% certain that it will chill an otherwise recovering new and re-sale housing market in Woodstock. Let's look at a scenario.<br />
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December 2010's average sale price in Woodstock was $183,107.<br />
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Assuming 5% down over 35 years at a fictional rate of 3.94%, your payment would be<b> $760.65</b><br />
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At 30 years, payments translate to<b> $821.28</b> <br />
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Under the same terms, at 25 years amortization, the payment balloons to<b> $909.37</b> <br />
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With Woodstock property taxes increasing at par with assessment phase-in, HST now in full effect on Hydro, gas, and other services, the dawn of Metered Water services, Time-of-day Hydro usage, Rising Garbage tag prices, and other financial pressures on the household, what do you think could happen to the value of your home? <br />
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Fewer buyers able to buy, fewer sellers able to sell for "what they need" out of a home... <br />
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Basically, a big chill. 2007-2008 all over again.<br />
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The time to list is now. Seriously!<br />
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Ben Sage, Sales Representative. http://www.bensage.com http://www.oxfordcountyhomes.ca Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON<div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-69764296015334231502011-01-06T15:28:00.000-05:002011-01-06T15:28:17.882-05:00The Status Report - Woodstock Residential Market Update, January 20112010 was a very interesting year in Real Estate Sales in the Woodstock and District Real Estate Board. <br />
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Here's a look at some of the numbers:<br />
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The average sale price in 2010 was <b>$218,216</b>, up <b>3.44% </b>from an average 2009 sale price of $210,957. For reference, 2008's average sale price was $215,202, and 2007 was $210,510.<br />
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Here you can view a Line graph of Historic Sales Values in Woodstock for the 2009 and 2010 Calendar year, as well as a bar graph illustrating the number of Residential homes sold in Woodstock for the same period.<br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiqwDX8E7Tc4Bti89nVPZL6r4WwratYx5EsKht0ESMk7Rw-qMWZJiG3VbRPyxsR28rw6-10Jzuq2zuArS0lAK-k71fifVKplV7bsH7uXSJC9msleW2tXYfSrjPS3AkEKnVCQR8dOuQiTbtG/s1600/Two_Year_Woodstock_Res_Avg_Sale.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="494" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiqwDX8E7Tc4Bti89nVPZL6r4WwratYx5EsKht0ESMk7Rw-qMWZJiG3VbRPyxsR28rw6-10Jzuq2zuArS0lAK-k71fifVKplV7bsH7uXSJC9msleW2tXYfSrjPS3AkEKnVCQR8dOuQiTbtG/s640/Two_Year_Woodstock_Res_Avg_Sale.jpg" width="640" /></a></div><br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiQ0AGeRBv5V84fkmH0ukymMncOd2xs6OR7rCVzRLb0zgABI_HGpw2N1ZvX-XMhjFkT8miEYNobgYiju3EjuZvQD28VddzhUk9EFkMqw2xWSh8ARQChj2HttjXP05CIJSRaIDEM1NZFqIba/s1600/Two_Year_Woodstock+Number+of+Sales.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="492" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiQ0AGeRBv5V84fkmH0ukymMncOd2xs6OR7rCVzRLb0zgABI_HGpw2N1ZvX-XMhjFkT8miEYNobgYiju3EjuZvQD28VddzhUk9EFkMqw2xWSh8ARQChj2HttjXP05CIJSRaIDEM1NZFqIba/s640/Two_Year_Woodstock+Number+of+Sales.jpg" width="640" /></a></div><br />
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It is interesting to note the trend - As predicted by myself and many in the sector at the conclusion of 2009, due to low interest rates and deferred purchasing, the first half of the year would be a busy time, with prices being pushed higher by steady supply and increased demand. Take a look at what happened to average sale prices after July, 2010. <a href="http://bensagewoodstock.blogspot.com/2010/03/hst-and-its-impact-on-real-estate.html">The impact of the HST </a>had a large psychological effect on the buyers in the marketplace. Additional factors that caused the decrease in sales volume and subsequently in the average sales price (by tipping the supply and demand scale) include the threat of rising interest rates ("buy now before the rates go up!), and tighter lending requirements. <br />
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Going forward into 2011, I am confident that we will see very much a repeat of 2010 in terms of overall volume and average sales prices. We've seen a pretty stagnant growth pattern year over year since 2007, and next year should look somewhat the same. I expect slightly fewer number of sales year over year from 2010, and average sale prices to remain strong, but not growing much past the $220,000 mark. It is expected by many industry analysts that we will have a very strong first half of 2011, followed by a stagnation in the latter parts of this year. In other words, the graph should look strikingly similar.<br />
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Though we do not have any major factors on the horizon that might influence the market (such as the HST introduction), we do have several smaller factors influencing market strength. The ongoing threat of higher interest rates has been somewhat subdued by latent recoveries in the domestic and American markets, but the recovery is gathering steam. This means that EVENTUALLY interest rates will start to climb, and when they do, this is bound to have a negative impact on housing values. It's been said that rates may begin to climb at the conclusion of spring 2011.<br />
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What does this mean for you?<br />
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Well, if you're thinking it's time to <b>sell</b>, the time to act is <b>NOW</b>. Catch the wave that is likely to crest in March or April if you're looking for the best value in 2011. <br />
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If you're <b>buying</b>, suppressed demand in the market means you will have time to act, but shorter supply trends indicate that prices are likely to <b>increase </b>throughout the year. Be aware of interest rate trends, and make sure you get a RATE GUARANTEE if you are planning to buy. If rates go up, you will be able to purchase less house for similar cost, so it makes sense to act soon. <br />
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If you have questions about this post, or Real Estate in general, feel free to email me <a href="mailto:ben@oxfordcountyhomes.ca">here</a>.<br />
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I wish you all a safe and prosperous 2011. I'm here, and ready to help!<br />
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<iframe allowtransparency="true" frameborder="0" scrolling="no" src="http://www.facebook.com/plugins/like.php?href=http%3A%2F%2Fbensagewoodstock.blogspot.com%2F&layout=standard&show_faces=true&width=450&action=like&colorscheme=light&height=80" style="border: medium none; height: 80px; overflow: hidden; width: 450px;"></iframe> Ben Sage, Sales Representative. http://www.bensage.com http://www.oxfordcountyhomes.ca Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON<div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-26577651545709058252010-12-17T09:59:00.001-05:002010-12-17T09:59:22.939-05:00A Public Service Announcement for my Real Estate Agent friends, Clients, and Private Sellers alike...Local News for Friday, December 17, 2010<br />
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Wellington County O.P.P. are asking for assistance from the public in tracking down a pair of man in their thirties, after police say they entered a residence with a real-estate agent, then proceeded to tie up the agent and ransack the house. <br />
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O.P.P. responded to the call just after 12:30 yesterday afternoon to the dwelling on Wellington Road 124 in Erin. Police say the suspects removed an unknown quantity of property and then fled. The victim did not require medical attention. Police describe one of the robbers as black, almost six-feet tall, and about 200 pounds. The other man is described as hispanic, standing about six-foot-four, and weighs around 240 pounds. The pair were driving an older model Pontiac, silver--grey in colour.<br />
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<iframe src="http://www.facebook.com/plugins/like.php?href=http%3A%2F%2Fbensagewoodstock.blogspot.com%2F&layout=standard&show_faces=true&width=450&action=like&colorscheme=light&height=80" scrolling="no" frameborder="0" style="border:none; overflow:hidden; width:450px; height:80px;" allowTransparency="true"></iframe> Ben Sage, Sales Representative. http://www.bensage.com http://www.oxfordcountyhomes.ca Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON<div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-11506044783879545022010-11-30T10:44:00.002-05:002010-11-30T10:44:28.302-05:00Fall/Winter 2010 Woodstock Condo ReportAfter a tough year for Condominium sales in 2009, the prospects for selling a condominium in the Woodstock market are definitely improving, as signs of stability are returning to the broader economy. A return to moderate confidence in the market has fueled a rebound in the Condo market throughout 2010. Compared to only 60 condominium units sold (4 new) in the entirety of 2009, the market has shot back with a 21% rebound this year, with Year to Date sales of Condominium units in Woodstock totaling 73 (and we sit at November 30th). 5 of these reported sales were of new condominiums.<br />
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We have also seen some new and exciting condominium developments in Woodstock, including Woodstock's first "Stacked Townhouse" Condominium Complex in the South end of Woodstock. With prices starting at $169,900 with a garage, this style of affordable luxury is certain to catch on. They are a commuters dream, just seconds from Highway 401.<br />
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In the northeast end, The Builders Group is listing Residential attached condominiums, in 2 storey non-traditional style. For the budget minded, these units start at $219,900.<br />
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In the Alder Grange subdivision, on the north end of Woodstock, sales continue of new Ranch-style attached condominiums, with either single or double garages, in 2 - 3 bedroom configurations, while across Highway 59, you have additional choices available, with Bungalows and Loft style Condominiums.<br />
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Employment prospects in Woodstock and Area remain promising, with CAMI on 6 day rotations indefinitely. This plant is expected to churn out 250,000 vehicles in 2010, a record for this facility.<br />
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Toyota has been and continues to produce the RAV4 in its Woodstock facility, and many Woodstonians make the 25 minute drive up the 401 daily to produce Corolla's in the Cambridge facility. The Woodstock factory employs roughly 2000 people and produces 150,000 RAV4's annually.<br />
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If you're making the commute from Cambridge or London into Woodstock, may I suggest looking at some affordable Condominium options? With Condos ranging from $65,000 up to $300+, we certainly have something that suits your budget, and needs.<br />
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I'd be happy to help.<br />
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For more information on Condominiums in Woodstock, head on over to <a href="http://www.yourcondoworld.com/woodstock/">Your Condo World</a> website, or <a href="mailto:ben@oxfordcountyhomes.ca">email</a> me and we can chat!<br />
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Ben Sage, Sales Representative. http://www.bensage.com http://www.oxfordcountyhomes.ca Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON<div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-79268958884952383302010-11-04T16:06:00.000-04:002010-11-04T16:06:14.954-04:00A Ground Level View of the changes to Organized Real Estate in CanadaSo, by now we've all heard about the groundbreaking changes to the way organized Real Estate functions in Canada. There have been many media reports on these fundamental changes, some have been accurate, and some have, of course, been extremely sensationalist - guess which stories get talked about more frequently?<br />
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I'm going to try to break down the changes into every-day terms, so that my clients, prospects, and colleagues can have a decent grasp on THE FACTS, and what this means for them. I will do my best not to editorialize this Blog post - try to keep it fact based as much as I can!! Keep in mind, these changes are all very new to all of us, even those of us involved in the Real Estate business, as we have been kept in the dark until very recently, due to the ongoing settlement between CREA and the Competition Bureau.<br />
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First off, let me dispel a common misconception. <b>Individual Sellers are NOT now able to post their listing on the MLS® system</b>. MLS® remains a member to member system. www.realtor.ca is the public portal to view listings that have been posted on the Member to Member MLS® system. This has not changed.<br />
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What HAS changed is the minimum service that can be offered by a Real Estate Salesperson or Broker.<br />
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Previously, if you chose to LIST your house with a Real Estate Salesperson on the MLS® system, an Agency/Representation agreement was mandatory. In short, this meant that by hiring a Realtor to list your home, you had no choice but to pay for a full service, including filling out listing documents, photographing, organizing showings, qualifying buyers, hosting open houses for agents and for the public, and negotiating offers to purchase your house. This Representation agreement comes with <a href="http://realestate.about.com/od/realestatebasics/p/fiduciary_duty.htm">fiduciary duties</a> to the seller, which comes with its own set of responsibilities and consequences for improper behaviour. <i> (It is important to note that many Realtors have a different idea of what "full service" actually means, but that's a different topic altogether). </i><br />
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What this settlement includes is a removal of the AGENCY PILLAR in the 3 pillars of the MLS® system. This is where the misconceptions about "public listing on MLS®" comes from. <br />
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In short, Sellers now have the option of OPTING OUT of the Representation portion of our "Standard" listing forms. Sellers wishing to utilize the MLS® must still use a licensed Real Estate Salesperson to put their listing on the system, however, they may retain the right to handle many services on their own. They can handle all of their own showings, they are free to qualify their own buyers, host their own open houses, take their own pictures, market their own property, negotiate their own offers, and basically perform any of the duties that a Full Service Real Estate Salesperson would traditionally have handled. It is important to also note that in order to satisfy the requirements of MLS®, all listed properties must include a "C/B" (Co-broker commission amount). This is what a Buyer Representative will be paid to negotiate a successful purchase on behalf of their Buyer client. The settlement does not specify what amount this C/B needs to be. That is up to the seller.<br />
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The tricky portion of this new settlement is that the Realtor who takes a "mere listing" may have waived his or her fiduciary duties to the seller, however they remain responsible for the accuracy of the information on the MLS® listing. It remains to be seen whether problems arising out of a mere listing will result in litigation being brought against the Listing Agent (ie, will opting-out of Representation ACTUALLY relieve the listing agent of any responsibility should something go wrong).<br />
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I liken this to "slippery when wet" signs on the floor at mcDonalds. They can put out the signs, but if someone falls and breaks a hip and dies, can you predict who may lose the pending lawsuit? <br />
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One non-negotiable aspect of these changes is the fact that sellers wishing to have a "mere listing" on MLS® will not be able to post their contact information directly on the MLS® itself. Links can be provided to external sites containing names and contact information, but this direct seller information will not be posted directly on the MLS® public site. As mentioned above, MLS® remains a Member to Member service. <br />
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Another common misconception is that the system has been changed so that sellers can now post their house on MLS® for a <b>Flat Fee</b>. Sellers always have been free to negotiate whatever listing agreement they chose, and as such this has ALWAYS been the case. Commission can be either a percentage of sale price, or a flat fee. This has not changed. As mentioned previously, this agent was not able to opt out of the Representation portion of the Listing Agreement, as this would have been contrary to the Rules of the MLS®<b>.</b><br />
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As previously mentioned, this is all relatively new to me, and to every Real Estate Salesperson and Broker in Canada. If this has caused any confusion, or if you have questions about this settlement, please don't hesitate to ask - I will do my best to answer in an honest, objective manner! <br />
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I'm sure<b> </b>I will have more to say about this in the coming days and weeks, but I think that covers the changes on a really basic level. <br />
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<iframe allowtransparency="true" frameborder="0" scrolling="no" src="http://www.facebook.com/plugins/like.php?href=http%3A%2F%2Fbensagewoodstock.blogspot.com%2F&layout=standard&show_faces=true&width=450&action=like&colorscheme=light&height=80" style="border: medium none; height: 80px; overflow: hidden; width: 450px;"></iframe> Ben Sage, Sales Representative. http://www.bensage.com http://www.oxfordcountyhomes.ca Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON<div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-43498723800912187692010-11-01T23:37:00.000-04:002010-11-01T23:37:44.367-04:00This is a test post! Ignore me!Just testing Facebook "like" feature. Ignore this post!<br />
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<iframe src="http://www.facebook.com/plugins/like.php?href=http%3A%2F%2Fbensagewoodstock.blogspot.com%2F&layout=standard&show_faces=true&width=450&action=like&colorscheme=light&height=80" scrolling="no" frameborder="0" style="border:none; overflow:hidden; width:450px; height:80px;" allowTransparency="true"></iframe> Ben Sage, Sales Representative. http://www.bensage.com http://www.oxfordcountyhomes.ca Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON<div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0tag:blogger.com,1999:blog-721546807380939877.post-13684515452469178862010-10-30T09:26:00.004-04:002010-11-01T23:27:06.549-04:00Housing Demand Perks Up*Article courtesy of Heather Degraaf @ Scotiabank<br />Contact Heather for all your mortgage needs. 519-535-7890<br /><span style="font-size:180%;"><br />Housing Demand Perks Up<br /><br /><span style="font-size:100%;">After a seasonally uncharacteristic spring and summer slump, Canadian home sales appear to be stabilizing at a new lower, but more sustainable level. National MLS sales volumes increased 3% m/m in September, building on a similar gain in August. Sales activity is still down almost 20% y/y but the decline is accentuated by las August's record monthly sales pace. Two-thirds of local markets reported higher sales last month.<br /><br />The moderate pickup in housing demand is being aided by lower borrowing costs. While policy tightening by the Bank of Canada has led to a modest backup in variable mortgage rates, fixed rates have come down across the maturity spectrum in recent months, mirroring the drop in bond yields. We expect interest rates will stay lower for longer, underpinning steady housing demand through the fall, contingent on at least a modest pace of job growth.<br /><br />With new listings edging up only marginally last month, the new-listings-to-sales ratio edged down to 2.0. Meanwhile, the month's supply of active listings fell for a third consecutive month to 6.6. Both metrics suggest a more balanced national market. Sellers (and builders) in Canada remain highly responsive to underlying market conditions. Unlike in the United States, Canadian foreclosure rates are low and not a significant source of downward price pressure. New construction too is gradually moderating. As would be expected given generally balanced conditions, average prices are essentially flat (+0.2% m/m and -0.2% y/y). Prices were overbid last fall as buyers outnumbered sellers, but have fallen back to more reasonable levels.<br /><br />While ultra-low interest rates remain highly supportive for the interest-sensitive housing market, moderate economic growth and hiring, debt-leery households and high home prices will keep many buyers on the sidelines for now. Look for a flattish fall national market from a sales and pricing perspective.<br /><br /><br /></span></span><br /><br /><iframe src="http://www.facebook.com/plugins/like.php?href=http%3A%2F%2Fbensagewoodstock.blogspot.com%2F2010%2F10%2Fhousing-demand-perks-up.html&layout=standard&show_faces=true&width=450&action=like&colorscheme=light&height=80" scrolling="no" frameborder="0" style="border:none; overflow:hidden; width:450px; height:80px;" allowTransparency="true"></iframe><br /><br /><br />Ben Sage, Sales Representative. http://www.bensage.com http://www.oxfordcountyhomes.ca Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON<div class="blogger-post-footer">This post originated at my website, located at www.bensage.com</div>Ben Sage, Sales Representativehttp://www.blogger.com/profile/16780488682192032907noreply@blogger.com0