Montreal Real Estate Blog » Deya Bautista

For Sellers: What Is Your Home Really Worth?

Deya Bautista — Mon, 14 May 2012 11:05:21 +0000

It’s true that as technology advances, there are several ways to find out the approximate value of a home almost instantly. Just recently, I tried out a new feature on a website called Zoocasa, where you can enter any home address and get an on-the-spot home evaluation.

Well, that was the plan.

Naturally, I wanted to test the little widget with a couple of recent sales. So I entered the addresses, hit the send button and — voila! The results came up. What I quickly realized was that, instead of giving me an accurate (or semi-accurate) appraisal, the resulting “guesstimate” was overpriced by $200,000, according to my own calculations. And this is not small change we’re talking about…

What am I getting at?

Technology alone is not enough, at least not yet. Just like proofreading or translating, as two other examples, technology can be incredibly handy but not always incredibly accurate. And when it comes to “correctly” pricing your home, you need more than mere numbers and figures taken from a website. You need comparables from the area. You need sold prices, and you should have someone come over for a quick inspection. It deserves to be seen in person, because the overall condition of your home will never show as well on paper as it does “live”. And that can make a (more than) SIGNIFICANT change in the way your property will be priced.

Ready to have your home appraised? Why not get a free, in-person consultation right now? For price strategies and marketing tips to get your home sold for more money, contact us now.

Posted By: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in high end condos in downtown and Old Montreal. For buying or selling contact Deya at: 514.917.7889 http://montrealrealestateblog.com/

Home Ownership in Canada: A Chronological List of Programs for Buyers

Deya Bautista — Thu, 10 May 2012 11:00:24 +0000

1954: Introduction of the Mortgage Loan Insurance- by the Canada Mortgage and Housing Corporation

1971: Principal residences were exempted from Capital Gains in The Income Tax Act

1992: There were two programs created by the federal government.
The first was the Home Buyers’ Plan (HPB) allowing buyers to withdraw up to $20,000, tax-free, from their Registered Retirement Savings Plan (RRSP) and use it as a down payment to buy or build a home.

The second, was a test program called the First Home Loan Insurance Program (FHLIP) which decreased the down payment needed to buy a first home from 10% to 5%

1994 The federal government announces the HPB as a permanent program.

1998 The FHLIP was replaced by a permanent program. And instead of 10%, all buyers were now allowed a 5% downpayment.

2006 The CMHC launched CMHC Flex 100- (Remember the zero-downpayment mortgage?) a mortgage loan insurance product for owner-occupiers that allows them, under certain conditions, to buy a property by taking out a loan up to the total value of the property (no down payment required).

The amortization period for owner-occupiers were also extended to up to 40 years, under certain conditions.

2008 The maximum amortization period for new mortgages was reduced to 35 years and the minimum down payment increased from 0 to 5 per cent.

2009 The maximum amount that can be withdrawn as part of the HBP increased to $25,000

2011 The maximum amortization period for new mortgages was reduced to 30 years

Adapted from and Article from the Market Analysis Department of the QFREB
Sources: Government of Canada, CMHC, Industry Canada and the Department of Finance Canada.

Photo du Jour: Crane View Île Notre-Dame at Sunrise

Deya Bautista — Wed, 09 May 2012 11:00:00 +0000

The Montreal Real Estate Blog showcases outstanding images from montreal neighbourhoods. If you’d like to submit your photography, please join our flickr pool or send us an email!

Foreclosure News: Property Repossessions Decreases in 2011

Deya Bautista — Mon, 07 May 2012 11:30:56 +0000

Less owners are losing their homes, according to the latest article of the Quebec Federation of Real Estate Boards (FCIQ) That’s great news considering that in 2010 there were 2224 seized in the province of Quebec. In 2011, a drop to 1140 foreclosures, this represents a 19% decrease since 2010. And looking closely at the chart, you will see that in 2009 there was a high amount of properties repossessed. The hard times seem to be over? We shall see.

In the article, there was a detailed description on how the foreclosure process works, and the steps property owners took when having difficulties making the mortgage payments. We will update soon with helpful tips for property owners in distress.

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Photo du Jour: Pointe à Callière

Deya Bautista — Wed, 02 May 2012 11:36:48 +0000

Photo: Deya Bautista

The Montreal Real Estate Blog showcases outstanding images from montreal neighbourhoods. If you’d like to submit your photography, please join our flickr pool or send us an email!

Photo du Jour: Point St Charles Old Building

Deya Bautista — Wed, 25 Apr 2012 11:00:00 +0000

In the corner of St Patrick, there is this very old and grungy looking building. The contrast of its brick and old paint chipping away, makes it very attractive for photos. Not all Montreal neighbourhoods look pretty and perfect, and buildings like these ones makes a nice shot for those “before and after” photo collections.

The Montreal Real Estate Blog showcases outstanding images from montreal neighbourhoods. If you would like to submit your photography, send us an email or Join or Flickr Photo Pool

VIDEO: Micro Condos – Radio Canada Documentary

Deya Bautista — Mon, 23 Apr 2012 11:37:59 +0000

On the topic of Micro Condos in Canada and the United States, Radio Canada made a documentary covering the different condo markets in the cosmopolitan cities of Montreal Vancouver and San Francisco. It shows us the differences between our (montreal) micro-condos and what they have to offer in space and layout in comparison to the ones in San Francisco, for example.
A snapshot of the micro-condo owner’s minimalistic lifestyle, the way their unit’s layout and furniture is used to maxime the space available is quite interesting, even for those who own larger units.

If you’re wondering what the hype about Micro condos is about or whether or not small units are for you, then this is a must watch! – This version is in french. We’ll be publishing an english one as soon as we know of its existence.

Enjoy,

http://www.youtube.com/watch?v=COQePZ9ttis

Source: McGill Immobilier