Feb. 28, 2009 - Keller Williams Mississauga Training Calendar

The March 2009 Career Development Calendar for Keller Williams Real Estate Associates in now available by clicking here.

On this month's calender, we are really focusing on helping agents ramp up their productivity in a huge way, following on the heels of Gary Keller's announcement at Family Reunion this week that 24 hours of lead generation per week is what is needed to thrive in this market.

All classes are open to agents from any company.

Feb. 12, 2009 - Top 10 Things To Get Business NOW!

In talking with my accountability (eww, I don't like that word!) coach this morning, I mentioned that the majority of agents are walking around, buying into the media feeding frenzy of negative news, and not having a clue of where to look or what to do for NOW business.

Being me, I offered to bring this up as a topic at our All-Associates meeting next week, and thought I'd put it out here for feedback first. So, please, give your comments and your feedback.

#1 - Stop being a 'Secret Agent'! I have a 4" x 6" Red namebadge that says, in 1.25" letters, "Ask Me About Real Estate". I go everywhere with that thing on, and people say things like 'Should I ask you about real estate?' or 'Chris, how's the real estate market?'. When I pump gas, I used to pay at the pump, to save time; now I go inside to pay and am guaranteed to have a conversation, often with a group of people, about real estate.

#2 - Say the RIGHT Things! So, I'm at the gas station, and someone follows the instruction on my namebadge, and asks me 'Chris, what's the real estate market like?' I have the opportunity to blow it at this point,or I can take advantage of it. Here's how I take advantage of it: 'Well, if you've been thinking of just putting your house on the market to see what you can get for it, then you'll just be wasting yours and my time, but if you need to sell, it's a great time; in fact, I just had 4 offers on my new listing the other night. And if you have some cash, or equity in your home, as little as $15,000, you can become a real estate investor with a positive cash flow. So, the market is full of great opportunities right now. Would you like to receive, by email, my Weekly Hot Investment Property Alert?'. How simple is that?

#3 - Change your tack!. I am not a sailor, but I know that when the wind shifts direction, a yachtsman can maintain their present tack and end up dead in the water, or they can change tack and pick up a new wind. It's no different in real estate. What are the opportunities in your market right now? How well do you know your market right now? I bet you don't know yours well enough to tell me all about the 100 homes that are listed in a certain price range, to give me a 1-10 rating and explain why you rate it that way. Do you?

#4 - STOP Focusing on scripts! Okay, so I don't really mean that. What I mean is stop obsessing over having just the right words. I was talking with a highly successful agent yesterday, as he was teaching a class on FSBO's and mentioned his doorknocking program that he conducts 12 months a year in Toronto. In February, he has to do at least 100 doors a day, and he commented that he can do 45 doors in 30 minutes. Someone in the class asked what script he uses, and I loved his response: 'Are you planning on selling your house this year?' That's it. If yes, they go on a drip campaign, etc.; if no, then he's on his way. That's my idea of an easy-to-learn script.

#5 - STOP thinking it is so difficult! Agents like to make things difficult. We do. We don't believe that simple things work. They do. Remember the KISS principle - Keep It Simple Sally.

#6 - Get the right people into your database! Do you have your friends in there? I hope so, and expect so. Do you have their siblings and parents in there? Why not? Get them in there, get in touch with them, and ask them to help you. John Maxwell talks of asking someone for help as one of the best ways to make that person feel important. People love to help; we're just afraid to ask.

#7 - Get Social! I only started blogging, Facebooking, etc. in earnest during late December 2008, and I have received referrals from 2 agents who found me on Facebook. I don't think that's too bad a return on my investment.

#8 - Make those calls! BUT make them smart calls. What do I mean by smart? Well, I get a lot of response when I'm calling and have to leave a message, either warm calls or cold calls, and the reason I get response is because my message is believable, it is different, and perhaps most importantly, I mirror them. My goal, when making calls, is to get someone to call me back if they are not home. Whether they are home or not, I am very careful to model their vocal style, so if they talk very fast, so do I; likewise, if they talk very slowly and precisely, so do I. I do this because it makes them think that we are alike, and they are then more likely to call me back.

I am usually calling, either warm or cold, looking for a specific size and type of house for a specific client, and people will call me back to enquire about the specifics of the property, to tell me they are, or aren't, thinking of selling, or to tell me who they know that is thinking of selling. What awesome information they give me, plus I then get to ask them if they have considered investing in real estate.

#9 - Actually work a full day at real estate. If you aren't listing properties, negotiating contracts, showing buyers, lead generating, or previewing properties, what are you doing? The most successful agents around will do WHATEVER IT TAKES to get the next appointment, even if it means lead-generating for 8 hours a day. Are YOU that committed?

#10 - Become the local expert! As part of Keller Williams, I have access to professionally-prepared monthly market updates. Although these are for the entire Canadian market, I can use them to showcase my expertise - for an example how, check my video at http://www.youtube.com/watch?v=fI6GM3ekNpU. I also do a weekly Total Market Overview report - you can read about them on the discussion board at http://MiltonRealEstateNews.com, and I am consistently sending out emails and video's to my database. You can view some of the videos on the YouTube page linked to above, to get an idea of what I am doing. I use a service called http://CoVideo.com to send out video emails to about 600 people at least once a week, to let them know that the latest market report is online, to announce upcoming seminars, and to push them to my websites and my blog.

So how does this particular item get you NOW business? Well, to distribute this information, first you have to collect it and then you have to study it, and as a result, you suddenly find yourself to be an expert on your marketplace. Start telling people to check out your blog for articles about the local real estate market, and you will be perceived as the expert you now are.

So there you have them, my suggestion for the Top 10 Ways to Get Business NOW. If you have any other ideas, I'd love to hear them - fire me a comment on my blog.

Feb. 11, 2009 - Milton Market Activity Since January 1, 2002

I've just posted a report showing the average price trends, by house type, in Milton since January 1st, 2002. I chose this date because that is when the houses in the new section of Milton started appearing as resales.

An interesting trend is that the number of units sold was down in 2008, from the peak year 2007, but prices were up across the board. Those 2 factors clearly indicate a market in transition, as inventory is sold off and buyer's begin waiting to see what is happening in the market. Indeed, from September 2008 through to the end of the year, we heard from buyer's that they were going to wait until January or February, to see what happened with prices, rates, elections, etc. True to their word, wait they did, and sales dropped precipituously as a result.

The one exception to rising prices is in condo apartments, and this can be attributed to the new buildings that came to completion in 2008, and the lowering of average prices by their very existence.

The exception to decreasing number of units sold in 2008 was in freehold townhouses, which saw an increase in untis sold of about 15% over 2007. This can be attributed to the strength in demand from entry-level buyers, and an emerging trend of some homeowners selling their more expensive homes before the market dropped further, in an effort to mitigate their losses.

In conjunction with the February 2009 Real Estate Market Update, viewable as a video at http://www.youtube.com/watch?v=fI6GM3ekNpU, you can find the annual summary of Milton real estate by downloading the PDF file from http://TownofMilton.com/STATS-2002+.pdf

 

Feb. 9, 2009 - Canadians show 'alarming' lack of awareness on fire safety

Canadians show 'alarming' lack of awareness on fire safety

(NC)-'Fire Prevention Week' kicks off in Canada during October and not a second too soon for the majority of Canadians who need to start doing their homework when it comes to improving fire safety at home, according to a new survey.

The seventh annual Duracell Fire Safety Survey reveals that a whopping 77% of Canadians admitted they failed to practice a home fire drill in the past year. Worse, one in four Canadians admitted to not changing home smoke alarm batteries at least once in the past year as recommended by the Canadian Association of Fire Chiefs (CAFC), rendering the critical first line of defense in home fire safety useless.

With Oct. 5 - 11 marking 2008 Fire Prevention Week in Canada, Duracell and the CAFC are urging Canadians to improve their fire safety awareness, particularly as it relates to keeping home alarms in proper working order.

"A working smoke alarm is a key step in fire safety preparedness and Canadians need to be more dedicated to maximizing safety in their own homes," said Pat Burke, president of the CAFC, Duracell's partner in the 2008 national fire safety survey.

The CAFC and Duracell are advising Canadians to get into the habit of refreshing alarm batteries at least once a year and they suggest that an easy way to remember is to do so when resetting clocks every fall.

This year, as the CAFC marks its 100th anniversary, Canada's fire chiefs are partnering with Duracell and Canadian Tire Stores to name Canada's Junior Fire Chief. The contest gives Canadian boys and girls aged 7 to 12 years the chance to win a trip Ottawa to spend a day with the city's fire chief. Details on the contest are available online at www.juniorfirechief.ca.

The seventh annual Duracell Fire Safety Survey was conducted by Omnitel, a division of Acrobat Research, between May 8 and May 11, 2008 and involved a sampling of 1,000 Canadians. More information is available online at www.duracell.com/ca/firesafety.

Credit: www.newscanada.com

Feb. 6, 2009 - Milton Real Estate Market Update

In looking at this week's numbers, it is quite a change in the number of properties that have been taken off the market - 28 listings expired or were cancelled in the past week, representing 8.2% of the available listings. There were a total of 7 properties sold, plus another 7 that went under a lease contract.

The busiest segments of the market this week were the price ranges of $275,000 to $300,000,  and $325,000 to $350,000, with 2 sales each. There were no sales over $375,000.

In terms of market supply, which is the most important factor to consider, we have approximately a one year supply of houses on the market right now. That means that if conditions stay the same and no new properties come onto the market, it will take a year to sell the available inventory.

It's called a Buyer's Market for a reason.

We have to apologize for the delay in posting the final 2008 Statistics - our MLS provider is experiencing a few challenges with the statistical module of the software and has been delayed in providing this information.

Look for a month-to-month update to also be available once the statistical module is working. In the meantime, we will continue compiling our weekly TMO by manually entering the data, listing by listing, into a spreadsheet and calculating for your benefit.

Feb. 4, 2009 - More on The Federal Budget

What the New Federal Budget Means to You

The January 27th federal budget was chock full of goodies for homeowners and first-time homebuyers. Below are some highlights from the budget that you may find useful. Home Renovation Credit If you’ve been thinking about doing some home renovations, a 15% Home Renovation Tax Credit (HRTC) of up to $1,350 on eligible home renovation expenses undertaken before February 1, 2010 that was proposed in the new budget may help in your decision to invest in improvements to your home. The credit will apply to expenditures in excess of $1,000, but not more than $10,000, for the 2009 taxation year. Expenditures for work performed, or goods acquired, after January 27, 2009 and before February 1, 2010, will be eligible for the credit. The credit will, however, not be available in respect of expenditures for work performed or goods acquired in that period if the expenditure is made pursuant to an agreement entered into before January 28, 2009. Individuals may claim this credit (including expenditures made in January 2010) in their 2009 income tax returns. Eligibility for the HRTC will be family-based. For this purpose, a family will generally be considered to consist of an individual, and where applicable, the individual’s spouse or common-law partner, and their children who were under the age of 18 throughout 2009. Two or more families that share ownership of an eligible dwelling will each be eligible for their own credit. Each family’s credit will be determined by their respective eligible expenditures in excess of $1,000, but not more than $10,000. Individuals will be able to claim the HRTC on eligible expenditures made in respect of dwellings that are eligible at any time after January 27, 2009 and before February 1, 2010 to be their principal residence or that of one or more of their other family members under the existing tax law. In general, a housing unit is considered to be eligible to be an individual’s principal residence where it is owned by the individual and ordinarily inhabited by the individual, the individual’s spouse or common-law partner or their children. In the case of condominiums and co-operative housing corporations, the credit will be available for eligible expenditures incurred to renovate the unit that is eligible to be the individual’s principal residence as well as the individual’s share of the cost of eligible expenditures incurred in respect of common areas. Individuals who earn business or rental income from part of their principal residence will be allowed to claim the credit for the full amount of expenditures made in respect of the personal-use areas of the residence. For expenditures made in respect of common areas or that benefit the housing unit as a whole (such as re-shingling a roof), the administrative practices ordinarily followed by the Canada Revenue Agency (CRA) to determine how business or rental income and expenditures are allocated between personal use and income-earning use will apply in establishing the amount qualifying for the credit. Expenditures will qualify for the HRTC if they are incurred in relation to a renovation or alteration of an eligible dwelling (including land that forms part of the eligible dwelling) provided that the renovation or alteration is of an enduring nature and is integral to the eligible dwelling. Such expenditures would include the cost of labour and professional services, building materials, fixtures, equipment rentals and permits. Expenditures will not be eligible if the related goods or services are provided by a person not dealing at arm’s length with the individual, unless that person is registered for Goods and Services Tax/Harmonized Sales Tax purposes under the Excise Tax Act. Any eligible expenditure claimed for the HRTC must be supported by receipts. ecoENERGY Retrofit – Homes Grants The new budget also proposes an expanded ecoENERGY Retrofit – Homes program, and Natural Resources Canada is currently working to finalize the details. The new expanded program includes a $300 million increase over two years for support to property owners looking to make their homes more energy efficient. It is estimated that additional funds will extend the reach of the current program to an additional 200,000 homeowners. Under the current program, ecoENERGY Retrofit – Homes provides home and property owners with grants of up to $5,000 to offset the cost of making energy-efficient improvements. ecoENERGY Retrofit grants apply to a host of measures that reduce energy consumption and provide for a cleaner environment, from increasing insulation to upgrading a furnace. Only homes that have undergone a residential energy efficiency assessment by an energy advisor certified by Natural Resources Canada will be eligible for grants. Detached homes, row housing, duplexes, triplexes and mobile homes on permanent foundations and some small apartment buildings of three storeys or less may qualify for ecoENERGY Retrofit – Homes grants. The ecoENERGY Retrofit grant is based on the type and number of energy improvements that have been made and how much the efficiency of the home has been improved. The grant is based on how effective that upgrade is in saving energy, not on the cost of the upgrade. The maximum grant one can receive per home or multi-unit residential building is $5,000; whereas the total grant amount available to one individual or entity for eligible properties over the life of the program is $500,000. The average grant is expected to be more than $1,000 and will yield an average 25% reduction in energy use and costs. RRSP Home Buyers’ Plan Increase The budget proposes a $5,000 increase to the RRSP Home Buyers’ Plan, meaning first-time homebuyers can now withdraw up to $25,000 from their RRSPs for a down payment – tax- and interest-free. Tax Credit for First-Time Homebuyers Also proposed in the new budget is a $750 tax credit for first-time homebuyers to help with closing costs, such as legal fees, disbursements and land transfer taxes. The tax credit is based on an amount of $5,000 for first-time homebuyers who acquire a qualifying home after January 27, 2009 (ie, the closing is after that date). The credit for a taxation year will be calculated by reference to the lowest personal income tax rate for the year and is claimable for the taxation year in which the home is acquired. An individual will be considered a first-time homebuyer if neither the individual nor the individual’s spouse or common-law partner owned and lived in another home in the calendar year of the home purchase or in any of the four preceding calendar years. A qualifying home is one that is currently eligible for the Home Buyers’ Plan that the individual or individual’s spouse or common-law partner intends to occupy as the principal place of residence no later than one year after its acquisition.

Feb. 4, 2009 - Low Rates Mean It's Time to Re-Finance!

low mortgage rates, refinance, for sale, real estate, chris newell

Refinancing to Take Advantage of Lower Rates

With interest rates falling as of late, refinancing your existing mortgage and switching to a lower rate may save you a lot of money – possibly thousands of dollars per year. Imagine what you could do with the savings – anything from renovating or investing to going on a much-needed vacation or putting money towards your children’s education. Perhaps your home is financed through a first and second mortgage. If so, reviewing your options to combine the two could also result in having more money left over at the end of each month. With the high cost of holiday gift-buying and entertaining now behind you, this may also be the perfect time to get 2009 off to a fresh start by refinancing your mortgage and freeing up some money to pay off high-interest credit card debt. With access to more money, you will be better able to manage your debt. By refinancing now and paying off your debt, you can put yourself and your family in a better financial position. It’s very important to not rack up your credit cards after refinancing, however, so set your goals and budgets, and stick to them. There are penalties for paying out your existing mortgage loan prior to renewal, but these may be offset by the extra money you could acquire through a refinance. Also keep in mind that by refinancing you may extend the time it will take to pay off your mortgage. That said, there are many ways to pay down your mortgage sooner to save you thousands of dollars. Most mortgage products, for instance, include prepayment privileges that enable you to pay up to 20% of the principal (the true value of your mortgage minus the interest payments) per calendar year. This will also help reduce your amortization period (the length of your mortgage), which, in turn, saves you money. You can also change the way you make your payments by opting for accelerated bi-weekly mortgage payments. Not to be confused with semi-monthly mortgage payments (24 payments per year), accelerated bi-weekly mortgage payments (26 payments per year) will not only pay your mortgage off quicker, but it’s guaranteed to save you a significant amount of money over the term of your mortgage. If, for instance, you have a $100,000 mortgage, an interest rate of 5% and an amortization period of 25 years, your monthly mortgage payment would be $581.60 and your total payments for a year would be $6,979.20 ($581.60 x 12). To understand the savings accelerated bi-weekly mortgage payments can make, take the monthly mortgage payment of $581.60 and divide it by two ($581.60 ÷ 2 = $290.80).  Next, take that payment and multiple it by 26 to arrive at your total payments for the year ($290.80 x 26 = $7,560.80). As you can see, by using the monthly mortgage payment plan, you’ve made payments totalling $6,979.20 for the year, while using the accelerated bi-weekly mortgage plan you’ve made payments totalling $7,560.80 – a difference of $581.60.  Basically, with accelerated bi-weekly mortgage payments, you’re making one additional monthly payment per year. Using this example, you would reduce the amortization on your $100,000 mortgage from 25 years to just over 21 years and your total savings on interest over the life of the mortgage would be just over $12,000. As always, if you want to talk about your refinancing options, I’m here to help.

Feb. 4, 2009 - Quartz Tops Granite In Countertops

Countertop trends: Quartz tops Granite as strongest rock in consumer reports

(NC)-Consumers in the market for a premium countertop surface are discovering early in their search that quartz, and not granite, has become the highest rated and most popular option available.

That's because quartz countertops have emerged as the new worry-free, elegant alternative to high-maintenance granite for architects, designers and homeowners alike. They're stronger than granite, require no resealing, are highly resistant to scratches and stains, and come in a huge variety of colours.

In fact, Consumer Reports Magazine rated quartz as the top performer among countertop materials such as granite, ceramic tile, stainless steel, laminate, marble, limestone and concrete when it came to resisting prime kitchen hazards such as stains, heat and scratches.

According to the recent Freedonia Group Report on countertop industry trends, there has been a definite shift in the marketplace over the last few years as quartz has become the fastest growing market segment in the industry with 13 per cent growth compared to granite's five per cent.

Quartz surfaces are growing in popularity because they have the appearance of natural stone, but unlike granite, these surfaces never need to be sealed. Quartz is a nonporous material, which means it will not promote the growth of mold, mildew or bacteria. This is why leading brands such as HanStone Quartz surfaces are certified NSF 51 (with the National Sanitation Foundation).

"HanStone quartz countertops have an aesthetic that can emulate the look of granite, but are also available in unique colours and surface effects not found in natural stone," explained Mark Hanna, President of Montreal-based Leeza Distribution Inc., one of North America's leading distributors of HanStone Fine Quartz Surfaces (leezadistribution.com). "The benefit of quartz is that it doesn't have any of the drawbacks associated with materials such as granite."

What is quartz?

Quartz is silicon dioxide and it occurs as individual crystals and fine-grained masses in a large variety of forms, patterns, and colours. It is naturally hard and scratch resistant.

Most quartz countertops are manufactured with up to 93 percent quartz mixed with pigments and resins. This prescribed mixture results in a product that is non-porous, exceedingly durable, and more than twice as strong as granite.

The top rated quartz surface in the industry by designers, architects and developers a like is HanStone, because it contains a higher quartz content than the norm and includes clear and multiple quartz colours, bringing greater depth, dimension and style to its surfaces.

HanStone is also accredited with Greenguard environmental certification for low emitting products. The Greenguard certification is becoming an important requirement for consumers looking for premium countertops following recent news reports that the Environmental Protection Agency has been receiving increasing calls from radon inspectors and concerned homeowners about granite countertops emitting dangerous levels of radon and radiation. Radon is the second leading cause of lung cancer after smoking.

As a result more and more consumers are looking for healthier options for their countertops such as HanStone for its Greenguard certification to ensure their countertops emit low to no emissions of toxic chemicals into their home environment.

Credit: www.newscanada.com

Feb. 4, 2009 - Ontario Government Helps You Buy A Home!

$10,000 Home Buying Grant

It is now easier for Ontario families to buy a home and enter the housing market through new rules under the Canada-Ontario Affordable Housing Homeownership Program.

The Government of Ontario has increased from $62,600 to $75,800 the maximum amount a household can earn to be eligible to receive interest-free down- payment assistance loans under the program. In addition, the maximum price of homes eligible for purchase through the program has risen to reflect average market selling prices. 

The maximum amount a household can earn to qualify for the program may vary among municipalities. The maximum price of eligible homes is updated quarterly based on average resale prices in your area. Municipalities may establish their own maximum house price and household income limits provided it is consistent with the program requirements. You may consult the list of maximum house prices and the list of income limit by municipality.

QUOTES 

“By making it easier for renters to buy their first homes, we’re helping Ontarians secure a brighter future for their families,” said the Honourable Jim Watson, Minister of Municipal Affairs and Housing. 

QUICK FACTS 

• Applicants must be at least 18 years old and have a combined household income at or below the maximum eligible income limit for their area.
• Applicants who own or partly own a property do not qualify for down-payment assistance.
• The AHP loan is granted for a period of 20 years. There is no interest charged on the loan.
• The unit must remain the sole and principal residence of the applicant for the entire 20-year period. It may not be leased to another party.
• Applicants must secure mortgage financing through a lending institution.
• Application forms are available from the housing department of your municipality or through an organization delivering the program in your area.
• On the 20th anniversary date of the agreement, the loan is automatically forgiven, provided there has been no default under the terms of the loan.

For a copy of the Information Brochure, click here

Be sure to contact me so we can determine if funds are still available in your area.