Sunday, February 27, 2011

Accredited Senior Agent Toronto west

ASA - Accredited Senior Agent Toronto

With the population of Canada aging, traditional selling methods will not provide the diligence and services that will be needed in coming years. I have been trained to deliver excellence of service to those in the mature and senior markets as well as their families, who may need special consideration.

For a real estate professional, there is a lot more to listing and selling a home than just the paper process. It takes time, it takes consideration of people’s special needs and it takes a strong team of experts, both within and outside of real estate.

You may be out of town, there may be disputes with siblings, who will take what and suitably appraise the memorabilia, keepsakes and valuables. Is dispute resolution needed? Who will secure the property during the funeral and arrange for insurance, trades, repairs, floors, painters, redecoration, staging and then ultimately the sale.

There are more than 90,000 Realtors in Canada and of these, less than half of one percent has earned the prestigious Accredited Senior Agent professional designation. I am proud to be in this elite group and am looking to be of service to you or those whom you may refer to me.
I am focused on the mature and senior market and I promise that I have the patience and deep understanding of involvedness, as well as the professional tools to provide an excellent and personalized service.

David Pylyp
Accredited Senior Agent
RE/MAX Realty Specialists Inc., Brokerage

905 272 3434 direct 647 218 2414

Monday, February 14, 2011

Lets Debate Variable or Fixed

The age-old debate of Variable vs Fixed mortgage continues, and is one of the top mortgage questions I get when meeting with my clients whether they are first time homebuyers or buying their second home. Last week I met with a young couple who were looking at buying an Etobicoke condo located in West Toronto and they asked the same question…Variable VS Fixed? The following is a quick exercise I did with them to help illustrate my point.

Historical statistics show you would be better off taking a variable rate mortgage 96% of the time. Pick a point along the GREEN line above and stretch it out for 5 years. How many times does the ORANGE variable line go above it?

As you can see, most of the time the variable rate remains below the fixed rate. At the end of the day it comes down to comfort level. If you are the type of person who will lose sleep worrying about interest rates....a variable rate is not right for you no matter how much money you think you will save. However, if you have a stomach for moderate risk and are comfortable with the possibility of an increasing mortgage payment, a variable rate can save you thousands in interest and take years off your mortgage....allowing you to be mortgage free faster.

Brad Compton is a Toronto Mortgage Broker who structures custom mortgage solutions for his clients with terms that fit their needs, and great low mortgage rates.

Brad Compton
Mortgage Consultant
Invis Inc

phn: 416-671-2183
fax: 647-436-7079
Twitter: bcomp123

Thursday, February 3, 2011

Thinking about Divorce? Marcy Speaks out

The Business of Divorce

The first firm and legal binding contract most of us will ever sign is the day we get married. Thank goodness for all the happiness that comes with a marriage or most of us would never consider it. Oh wait - we don't. Who amongst us buys an hour of a lawyer's time to review the ins and outs of family law? The second biggest firm and legal binding contract most of us will ever sign is when we buy a home.

January is the time when I see a lot of people who made it through the holidays and now want out of the marriage. The assets will be split and they want to buy a home of their own. But wait - there's the business of Divorce that needs attention.

If you were legally married you are married until the court recognizes otherwise. To undo a legal contract you need another legal contract that recognizes your intent. Without this separation agreement or divorce you are married. If you are married and you buy a home you need your spouses permission. As Draconian as that sounds it's the law. Don't believe me? Check the deed of your home. You will see on the front page you made a declaration that you are or are not a spouse. If you are a spouse your spouse also needs to sign the deed acknowledging you own property.

For this reason a lender requires a copy of your separation agreement before they can lend you money for a mortgage. It's for no other reason than family and property law. I can't tell you how many times I see people in my office shocked to find this out. Yes there are options but after you've said or heard "Honey I'm leaving" it's not a great time for a collaborative conversation.

If you're thinking that your marriage is coming to an end please do your homework. Working with a Divorce Financial Analyst is one way to plan ahead. I have seen very good results with this service. If having a home of your own is part of your plan make sure you consider the following:
  1. Value of your home - this asset will most likely be split with your spouse but the formula for the division of assets is clearly set out by the courts.
  2. Penalties - call your lender and see what the penalty is to get out of your mortgage. If your taking a spouse off title you will need to redo your contract with your lender and you will need to qualify.
  3. Real Estate Fees - what will it cost you to sell the house? Don't forget to add the cost of the lawyer.
  4. Pre-Qualify - what will you be able to afford on a new mortgage? What income are you planning to use to qualify for the mortgage? (If using alimony or child support most lenders would like to see three months of payments deposited to your bank account before they will consider them)
A divorce is very emotional. You need to gather information and as I always say "organize your paper work". There is a lot of help available. If you need any information please email in confidence. I would be only too happy to answer your questions or refer you someone who can. Please note I am not a lawyer and my advise is limited to my understanding of mortgages.

Pass this message on to anyone you know who is in the middle or struggling with the decision to end their marriage.

Need a Market evaluation or Opinion of Value for your west Toronto, Mississauga or Oakville property? Complete the email or call 647 218 2414