Free Home Evaluations

How long were you a Willing Qualified Buyer until you bought your present home?

How long have you been out of the real estate market since buying your home?

The truth is Willing Qualified Buyers in today's market are;

  1. Harder to find
  2. Have lots of choices
  3. Are not in the market very long
  4. Are looking for a great house at a great price
  5. Not looking at over market value priced properties
  6. Not looking at advertising from Realtors advertising Realtors

The truth is Willing Qualified Buyers Compare Prices Only!
While they look at all the other properties in their Buying Power target range.

The truth is Willing Qualified Buyers are Shoppers!
Buyers are outgoing through homes and comparing what you have to offer compared to all other options including doing nothing.

Right now, in Calgary, there are over 8,000 active listings. Over 8,000 properties jumping up and down, shouting loud and waving their arms trying to get the attention of the few Willing Qualified Buyers.

Less than 1,500 homes sold in Aug 2018.
Less than 1 in 5 homes sold in Aug 2018 of the over 8,000 on the market.
The odds of selling are stacked against all properties that are not priced competitively.
Testing the market is a complete waste of time. Those days are gone for the foreseeable future.

Willing Qualified Buyers first step is to search for homes MLS® Listed by Price. The next step is to browse the pictures. Then explore the details and history of only the short list of properties meeting their criteria. Next Willing Qualified Buyers ask to book appointments to see the short list of homes with the goal of eliminating all but one!

The most important thing to get right when selling a home is PRICE. If a home was on the market and didn’t sell it’s because the Price didn’t meet the buyer’s perception of value.

Price is what you pay. Value is what you get.
Two loonies are for sale. One is offered at $1.05, the other at 95 cents.
It’s obvious which one will sell quickly, and which one will sit on the shelve forever or be taken off the market?

Real Estate is the same, offer value and you sell quickly, over price and never sell.

I offer Free Honest Home Evaluations!

“Buying A Listing” means telling you your home is worth more than it would ever sell for. The idea is to get price reductions from you until it does get to the price a Willing Qualified Buyer will pay. I don’t do that!

It takes me a bit of time to prepare an Honest Opinion of Current Market Value, but I don’t mind.

Call me if you would like an Honest Opinion of Current Market Value. 403 831 0842

Thank You


Jerry Charlton
 403 831 0842     Jerry@JerryCharlton.com
www.JerryCharlton.com
Remax Realty Professionals

Read full post

Real Estate Investing is a numbers game. Can a property generate enough income to pay the expenses and a profit to the owner? With that in mind, Real Estate Investors need to start with Income Research.

Rentfaster is one of the better websites to search for average rent rates in Calgary. You can search by home style and communities to really narrow in on the type of property you are thinking about. You can also search by price to see what properties demand the highest rents and what properties collect the least amount of income.

Then you can search properties on MLS® by the numbers as well.

Here's a snapshot of a spreadsheet with Calgary Condos for sale showing the income required to break-even with 25% down. Mortgage at 3.5% Interest over 25 Years.

Of course your Break Even Monthly Cash Flow could be much different depending on your down payment and interest rate.

If you would like a list of current condos for sale using your numbers in my database - give me a call today.



Read full post



What is a Judicial Listing?

What a Judicial Listings is not, is a motivated seller. A Judicial Listing is a Court Ordered MLS® Listing of a property. The bank has obtained a Court Ordered to list the property for sale. At this point, the sellers could still catch up the payments and end the Court Order. The Judges who evaluate all offers to purchase are more sympathetic to the people and not the banks. What that means to potential buyers is the Judges rarely if ever accept an offer below market value. They care more about the people than the bank profit and loss statement. If no offers get accepted after a determined time limit, the court will terminate the listing and transfer the property to the bank.


Do the banks accept lowball offers after they get possession of the property?

No, because the banks dominate the mortgage business it would be against their best interests to accept lowball offers. Accepting lowball offers would knock down the price of nearby properties they also hold mortgages on. Banks would be shooting themselves in the foot if they dumped all the foreclosures on the market at once and took below market offers. If you do see a foreclosure that was sold at what appears to be a low price - It probably needed a lot of work. So the price was fair market value. Banks control the real estate market.


If Banks and the Courts are not Motivated Sellers, Who Is?

A motivated seller is anyone that Has to Sell vs those that Want to Sell. Divorce causes a lot of forced home sales. Loss of Jobs, transfer of jobs, transfer of kids schools, bad money management, estate listings, disgruntled landlords, people tired of all the home upkeep, forced downsizing, etc. There are lots of truly Motivated Sellers willing to sell below market value for every foreclosure out there. And there are lots of people watching the new listings daily that snap up the great deals before you've had your morning coffee.


How can you tell if someone is Motivated to Sell below market value?

Number one is you have to know general market values for the area you are looking at and the style of homes in that area. In other words, you need to do some work. There's always someone working just as hard or harder than you are to find the great deals that pop up. After a while of studying the market and viewing lots of properties, it gets easy to spot something out of the ordinary that might be an opportunity. Then you write an offer with your Realtor with the price, terms and conditions that you want!


What kind of Terms and Conditions do Motivated Sellers want?

They want all cash offers with no conditions or terms and a quick closing date. If you want a lower price, you shouldn't weaken your offer by adding any crazy sounding conditions and terms. If you do need a financing condition and home inspection condition the length of time you ask for can also weaken your offer. If it's a great deal, count on the seller getting a few offers to compare against each other. Put yourself in their position.

  

What other signs are there that a seller might be motivated?

Two people on the legal title and only one adult living in the home. Moving boxes already packed up. Deferred or ignored home maintenance. Vacant properties. Tenant Occupied Properties. Owner on the title is a company. Neighbours look sketchy. The neighbourhood looks run down. Size no longer works. After looking at lots of properties the signs generally jump out at you.

Read full post
Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.