Buyers

Spacious South Burlington Freehold Townhouse within walking distance to the lake! Located on a quiet family friendly crescent. Large renovated master bedroom. Finished basement with walk-out to backyard and 2 tiered deck. Eat-in kitchen. Air Con and Furnace 3 years old. Conveniently located. Close to QEW, public transportation, schools and shopping.

ALL FOR UNDER 300K!!!

For more photos and property details, CLICK HERE

If you have any questions about Real Estate in Burlington, Oakville, Hamilton or Toronto, please don’t hesitate to give me a call or send me an email.

You may also want to take advantage of my latest service I am providing clients! A no obligation, over the net OR phone, property and neighbourhood evaluation. If you are interested to know the current market value of your home and what property is selling for in your neighbourhood, I would be happy to send you a report to an email address or chat to you about it over the phone. NO in-person meeting is required!

Hope to hear from you soon.

Buying a home today…at today’s prices, would have a home owner paying less per month than if that home owner bought a home 25 years ago…at 1987 prices!

I was recently at a real estate symposium and we were discussing the affordability of homeownership in today’s market. We were talking about current purchase prices vs. historic low interest rates and it took us back to a time when interest rates were not so favourable for the average home owner.

I told a client the other day that if he bought a home today at today’s housing prices, he would still be paying a lower monthly amount than if he bought a home 25 years ago at 1987 prices. Reluctant to trust my math skills, I had to prove it to him on a scrap piece of paper.

Bought a home in 1987
$250,000 – Purchase price
20% down payment ($50,000)
$200,000 – Mortgage amount
10% – 1987 interest rate
25 year amortization

Monthly payments = $1788.98

Bought a home in 2012
$500,000 – Purchase price
20% down payment ($100,000)
$400,000 – Mortgage amount
3% – 2012 interest rate
30 year amortization

Monthly payments = $1682.42

As I finished writing $1682.42 on the paper and he glanced back at the 1987 figure, he asked me to check my math.

If you are contemplating whether to stay in your rental or jumping on the housing ladder, you should look at these numbers again. We have never seen interest rates like this in history and may never see them again. Your opportunity is now!

If you live in the Burlington, Oakville, Hamilton or Toronto areas and would like to talk about housing affordability, I would be happy to meet with you to discuss your options. We can see how affordable homeownership can be. Be sure to ask about my First Time Home Buyer AIR MILE Promotion.

What you should know about deeply discounted mortgage rates

You’ve heard the expressions ‘cheapest isn’t always best’ OR ‘you get what you pay for’. This also applies to shopping for the best mortgage rates. When you are looking at paying off your largest investment over 25-30 years, it is easy to jump on the lowest rate available. But, the low-rate mortgages could actually cost you more in the long run.

• Check The Fine Print: These low rate mortgages often are the least flexible when it comes to paying off the mortgage or getting out of the mortgage before the term is up. For instance, is the mortgage fully closed? That means you’re not leaving the lender unless you sell your house, so your options are limited and you have no negotiating power if your needs change in the next 5 years.
• Low or no prepayments: Many mortgage options allow home owners to pay up to 20% of the outstanding principal each year, where low-rate mortgages may only allow 10%. Many lenders will also allow you to make unlimited double up payments throughout the year, where low-rate mortgages may not allow any double up payments.
• Maximum 25-year amortization: Many first time home buyers need the extra flexibility of having a 30 year mortgage. The low-rate mortgages can take away flexibility you may need later.

For the same reasons I caution buyers about hiring a discount brokerage to handle their real estate transactions, I also caution you about signing up for the lowest mortgage rate on the market. You always get what you pay for and the cheapest isn’t always the best.

If you are considering a discounted mortgage rate, call me first to discuss what to look for in the contract. I will help you find the right combination of low rate and contract terms that will meet both your current and future financial needs.

Considering Buying or Selling Your Home?

For more information on buying or selling real estate in Burlington, Hamilton, Oakville, or Toronto, or if you have questions about current market trends, staging properties or mortgage interest rate information, I’d be happy to answer all of your questions to accommodate all of your real estate needs.

Sean Kavanagh
Sales Representative

For more information on my Home Buying or Home Selling System, contact me at
Email: sean.kavanagh@century21.ca
Web: www.seansells.ca
Facebook page: SeanKavanaghC21

Building Lasting Relationships and Exceeding Expectations

Masters Diamond Award Winner – 2010 & 2011, Masters Ruby Award Winner – 2009

Oakville Real Estate – CENTURY 21 Miller –TOP TEN Office*
______________________________________________________________________________
Office: 905.845.9180 | Fax: 905.845.7674 | millerrealestate@century21.ca
Oakville Real Estate, Burlington Real Estate, Milton Real Estate, Mississauga
*For CENTURY 21 Canada in 2010 and 2011, Based on Gross Closed Commission

Completely renovated open concept 3 bed/2 full bath home on quiet street in south Burlington. New kitchen (10)w/maple cabinets, island, ceramic floors and s/s appliances. Lower level w/large family room w/stone fireplace and full bathroom w/glass shower. Professionally landscaped, Freshly painted, Hardwood throughout, roof (11), main floor windows (11), and custom window coverings (11). Seller is RREA. RSA.

Open house: Sunday January 15th – 2:00pm – 4:00pm

For more photos – CLICK HERE
For a YouTube video of the property – CLICK HERE

Hope to see you all there on Sunday!

Get your New Mortgage Ready. After you’ve shopped around for the best rate, meet with your mortgage rep to sign off on the papers and to determine your payment details. Be sure to have all of your expenses prepared so the lender will have a proper idea of how much you will be putting down. I have had clients not factor in the land transfer tax when estimating the available money for a down payment and it cost them in the end.

Prepare for the Lawyer. Call your lawyer to make an appointment well before closing day. Get the lawyer to run through the numbers with you again so that you know exactly how much you should bring for your down payment/lawyers/closing fees.

Get Home Insurance. Some mortgages (if not all) require that you have home insurance. Call around a few weeks before closing to see who has the best rates and coverage. I will caution you on simply going for the best rates and disregarding the coverage in the policy. I have heard of far too many stories of people losing everything and not getting it all back because of the coverage they chose.

Prepare your Down Payment Funds. If you have your down payment funds in a high interest savings account, make sure that it’s accessible for a bank draft to be submitted to the lawyer. Be sure that the funds are available to be withdrawn on the day of closing. If there are any holds on the account from which the money is being withdrawn, it can hold up the closing process.

Get the Utilities Ready. Call the Cable, Gas, Hydro, Telephone, and Security companies in advance and give them the date of your closing. They will calculate how much is owed on closing day and your lawyer will make those necessary adjustments.

Get your New Furniture/Appliances ready. If you purchased new appliances/furniture arrange for the store to deliver the packages on (or just after) closing day.

Get your Contractor ready: If you are planning to have work done in the house, start planning it early as the good contractors are usually booked up well in advance.

Lastly, remember it to try and stay calm throughout closing day. A lot of people underestimate the level of stress associated with moving. Small things can become large issues that can snowball out of control if not handled with a level head.

It is always a shame when you hear about someone having a huge financial surprise on the day of closing. On the day you are making the biggest purchase of your life, many forget to calculate all of the other expenses that are to be paid on closing. These expenses will not be rolled into your mortgage, so be sure to calculate them all on top of the money you had planned to put down as your down payment. Typically, you should set aside 2 to 3 percent of the purchase price to cover costs such as:

Home Inspection – A written report is prepared by a qualified inspector who assesses the property for any defects or poor maintenance. It helps let you know what repairs and maintenance are required, and if the property is structurally sound.

Appraisal –It is required to make sure the property is acceptable as a security for the mortgage, to determine what the property is worth based on sales of comparable properties, and if what you paid for is close to the appraised value of the property. This is often the request of the lender you will be getting your mortgage from.

Legal Fees/ Disbursements – The lawyer will prepare mortgage documents for you to sign and register your name on the title as the owner of the property once the deal closes. Ask your lawyer for a quote on his/her fees to close the deal and mortgage, including disbursements (courier costs, registration fee, photocopying, etc.). You may shop around to see what other lawyers charge and choose whoever you are comfortable dealing with. Ask your real estate agent for a recommendation but it is also a good idea to do a little research on your own.

Title Insurance or Survey fees – ensures the property is acceptable as security for the mortgage. Survey fees can usually be avoided if you can get an acceptable copy of survey from the previous owner.

Land transfer Tax – for certain provinces; usually based on the percentage of the purchase value. In Toronto, be sure to calculate the municipal tax as well.

Prepaid expenses – can include utilities, water, sewage, property tax, and oil in tank prepaid by the seller beyond your closing date.

Property Tax Holdback – Holdback required by the lender if the lender is the one collecting and paying for the property tax in order for them to have sufficient funds available to pay the next installment due.

Fire Insurance – usually required by the lender to be in place (as confirmed by the lawyer) by the time you go and sign the mortgage papers with your lawyer; ensures the borrower has adequate coverage to pay off the mortgage for the property in the event of fire or other damages.

Mortgage Protection Insurance Premiums – optional; paid monthly and covers the mortgage amount in case of death, disability, loss of employment or critical illness depending on the policy you choose.

Mortgage Insurance Premium (CMHC) – typically incurred if your mortgage amount exceeds 80% of loan-to-value; paid to the insurer as a one-time fee that can usually be added to the mortgage amount.

Mortgage Processing Fee – In unique situations, this is a fee brokers/lenders charge to process applications and is disclosed before an applicant signs the mortgage commitment.

Other fees – GST (Goods and Services Tax) or HST (Harmonized Sales Tax) for new homes, utility connection charges etc.

Moving Costs

You should always be sure to clarify with your real estate agent, lawyer and lender about all of the costs you can expect on the day of closing. That day is supposed to be one of your happiest days and unexpected surprises can be avoided by asking these simple questions. For more information on buying or selling homes, feel free to call me, Sean Kavanagh, today at 905-220-9198 and I will be happy to answer all of your real estate questions.

The last time you sold or bought a house, what did you get from your Realtor to say ‘Thanks for your business’? A bottle of wine, a bouquet of flowers, a gift card? How would you like to earn enough Airmiles for a return flight to Montreal, Chicago or New York City!

Let me send you on a vacation with my 2011 Airmiles Giveaway Program.

BONUS Air Miles Giveaway!!!! From now until January 2012, earn DOUBLE the Air Miles on all full service listings

Selling Side = $300,000
Buying Side = $500,000
= 1500 Airmiles

1500 Airmiles can earn you a round trip ticket to Montreal, Chicago and New York City. If you aren’t planning on flying anywhere soon, use those points to buy yourself a new iPod Nano, Bose speaker system or Blue Ray disk player. For more details on the Airmiles rewards, visit www.airmiles.ca.

My wife and I recently bought and sold with Sean, and we were absolutely blown away by his top notch service, dedication, accessibility, and responsiveness. His marketing of our town house was great and very in tune with the current technology being used by many buyers. He found the perfect home for us to buy, with all of the features we were looking for. Sean provided us with great service, and helped us into our perfect home. Thanks, Sean for your great work!

Scott and Lindsay Kirkwood

If you are thinking of buying or selling in the near future, please give me a call so you can receive this same great service. Be sure to click on the testimonials section so you can see what other satisfied clients have to say about my service.

The last time you sold or bought a house, what did you get from your Realtor to say ‘Thanks for your business’? A bottle of wine, a bouquet of flowers, a gift card? How would you like to earn enough Airmiles for a return flight to Montreal, Chicago or New York City!

Let me send you on a vacation with my 2011 Airmiles Giveaway Program.

BONUS Accommodations Giveaway!!!! Not only will I give you Airmiles for your flight, all full service listings will also be entered into a draw to win a one-week (7 nights) vacation stay at multiple resorts worldwide.

How this works:

2 Transactions – Buy and Sell = 2 Airmiles for every $1000

Example:

Selling Side = $300,000
Buying Side = $500,000

$800,000 x 2 Airmiles/$1000 = 1600 Airmiles

1600 Airmiles can earn you a round trip ticket to Montreal, Chicago and New York City. If you aren’t planning on flying anywhere soon, use those points to buy yourself a new iPod Nano, Bose speaker system or Blue Ray disk player. For more details on the Airmiles rewards, visit www.airmiles.ca.

Note:
a) 1 transaction (Buy OR Sell) earns you 1 Airmile for every $1000.
b) Only full commission listings and purchases qualify for 2 Aimiles/$1000.
c) Only full commission listings qualify for the Bonus Accommodations Giveaway.

2010 has been a very busy year in real estate despite all of the changes that have happened within the industry. With all that has changed, it was interesting to note, however, that buyers still seem to have the same things on their wish list when they go out in search of their next home. Here is a list of the top 5 items that buyers still deem most important when they go out to buy a home .

1) Granite is Still King – You just have to walk into a kitchen store, or even your local home depot, to realize that countertop options are endless. Fantastic products are coming on the market more frequently (Corian, Quartz, polished concrete, etc…), but most buyers still see granite at the top of that list. I am not telling home sellers to run out and replace your countertops today, I am simply suggesting that if you plan on making some improvements in the kitchen, be careful when you decide on your countertop material. Buyers still look at granite as the Cadillac Top and a kitchen with granite will dramatically increase the saleability of the home.

2) Closet and Storage Space – I have had more buyers walk out of homes due to the lack of closet and storage space than anything else. We live in a consumption society and families now come with a lot more ‘Stuff’. Today we collect more ‘Stuff’, so we need more space to store the ‘Stuff’.

3) Master Bedroom Size – Many buyers still want large master bedroom sizes. Even though this one is hard to correct from a seller’s stand point, there are things you can do to the room to make it look bigger. Remove all large furniture pieces (if you have a post bed in a small master, remove the posts), declutter and repaint the walls a light, neutral colour. You can’t change the size of a room, but a brighter bedroom with less ‘Stuff’ will make it seem bigger.

4) Hug a Tree, We are Going Green! – I am having more and more buyers asking me about the efficiency of the home. As a seller, it is a good idea to have an energy audit on your home. Even if you are not going to sell, it is important to find out where you are losing energy and wasting money. However, if you are going to sell, you will want to know how energy efficient is your furnace or air conditioner, how much heat is being lost from the windows, how insulated is the attic, etc…These are just some of the questions you can have answered with the energy audit and you can be sure these are some of the questions potential buyers will be asking when they come in for a visit.

5) Move in Ready Condition – It wasn’t too long ago people wanted to find a ‘Fixer-upper’. For the most part, unless you are in the business of flipping houses, those days are gone. People are now looking to find a home in ‘Move in Ready Condition’. Many people still find housing prices very high and don’t have the financial resources to update the home once they move in. Even if they do have the financial resources, people lead busy lives and feel they will never have the time to do it themselves OR don’t want to be inconvenienced by having a parade of contracted help coming into the house to bring it up to a standard they can live with.