Hike in Mortgage Insurance Premiums!

Just in....mortgage insurance premiums hike once again. 

Well, just marginally and this only affects those that put less than 10% down. So attention many first-time-home-buyers. The graph below explains the monthly amount your mortgage will increase by. 

CMHC made this announcement early Tuesday, January 17th, 2017 and will be effective March 17th, 2017.  

Our last hike in insurance premiums happened less than 2 years ago in April 2015. 

“We do not expect the higher premiums to have a significant impact on the ability of Canadians to buy a home...Overall, the changes will preserve competition in the mortgage loan insurance industry and contribute to financial stability.”

— Steven Mennill, Senior Vice-President, Insurance.

6 Questions To Ask When Interviewing a Listing Agent

You should feel secure, comfortable and well-advised when choosing your listing agent. We've compiled the Top 6 Questions you should use at your next listing presentation. 

1. How are you different from other agents ?

This question reveals their tenacity and character. Many agents learn scripts and sound like robots. A top agent will sound unscripted and give you a feel of who they are as a person. This question brings out an agents personality. If you want to know why your nonna's pasta sauce always tastes the best , a question like this will reveal the secret ingredient. 

2. What do you bring to the table?

Hopefully by the end of the listing presentation you will know the answer to this question. These key strategies should be included in their presentation; a marketing plan (digital and print), negotiation, prep of your home and many other strategies. A difference between a Top Agent and just another agent is their branding and that key strategy that no other agent would have. Call us and we will reveal the secret to selling your house. It's all part of the "magic touch" we have. 

3. How will you get us the price we want?

Always, always, always have options when pricing. A Top Agent will know the market, know your neighbourhood and have tiered pricing strategies. There are so many agents nowadays that get into the industry without knowing basic math. You'll be able to know immediately. Do you own research before hand.

4. Supply 3 references.

Many sellers don't even think to do this. And we aren't talking about testimonials from their parents, cousins, aunties and siblings. Get the number of past clients and call them up. Ask them about the process, ask them what they liked most, what they thought the agent could of improved on and any downfalls they went though.

5. Type of volume of transactions

Has the agent you're interviewing sold a home like yours before? Have they sold in your neighbourhood or municipality? What's their volume of transactions in each category? If you are selling a co-op housing unit, you would need an agent who has high volume of transactions in co-op housing, etc.

6. What are your numbers?

Best for last. Their numbers. It is so easy to manipulate stats. And it seems many agents are #1 in the market, #1 in the neighborhood, #1 globally. With aestriks (*) that lead to tiny words that reveal the truth behind the stat. Be careful when asking about Days on Market (DOM) vs. Average Sale. These are the two most skewed numbers in the market. 

Like our brokerage's vision we believe in being guardians of the Real Estate Industry. Taken from RE/MAX Hallmark website, "We are extremely proud of our industry and take on the responsibility of helping to grow our industry in the heart and minds of our consumers. We expect and deliver professional service and care to everyone we are privileged to serve."

#theconnexusadvantage

Next Step After You Move In

Congratulations! We've found your new home together and you just moved in. Take a moment to let it all soak in. After opening up your #connexusadvantage welcome home package you're probably thinking of the million tasks on your to do list. For some, the honey to-do list. 

Unpack, measure, poke holes, drill, hammer, level, install, paint, clean, renovate -- design. Your interior design style is what brings everything all together. So forget about A-Z tasks and focus on how you would like your new home to look. We have a list of guys for the A-Z tasks. 

What kind of kitchen cabinets do you like; Wood vs. Glass vs. Sleek vs. Retro vs...

We've recently found this online interior design quiz that can help you find your style. The questions really help narrow down whether you're going to have fake flowers, branches and twigs or fresh flowers every 4-7 days. 

Sarah recently took it and got Contemporary for her design style. 

Have a little fun on this work Friday afternoon and pop over to the Houzz website and take the quiz. Let us know what you got! 

And remember, whatever your home need is we are here to help. After all, it's #theconnexusadvantage 

How to Win a Bidding War

Have you recently entered the real estate market and have been shocked with how many bidding wars and bully offers there are in the market place. 

Have any of these phrases stumped you:

• "Offer Date April 12th at 7 PM. Bring Best Offer."
• "No Pre-emptive offers being accepted"
• "Seller reserves the right to pre-emptive offers"
• "Bully Offer" 
• "There are now 24 offers registered on the property" 

Don't be surprised. With the high demand on detached homes and little supply almost every (or every other) property holds Offer Presentation Dates. What's that you ask? It's the schedule presentation time where agents go and present offers infront of the owners/listing agent. Usually a week after the property hits the market. 

We're here today to give you 8 Strategies on how to WIN your next bidding war. Warning: we won't be giving away all of our secrets, schedule a meeting with one of The Connexus Group members and we can help you through the process.  

1. Crunch Numbers

Before you even begin your purchasing journey, crunch some numbers. Call a mortgage advisor and find out how much you can really afford. Get pre-approved. Know your monthly budget. 

2. Timing is Everything

Bidding wars happen fast and there is plenty of opportunity to miss out on a home. Be prepared to move fast. When/if bully offers are accepted, put one in. Know the seasonal markets. This goes back to supply and demand. If you're a buyer you want to be on the edge. 

3. Be Flexible 

Offers in today's market are coming in firm. What does that mean? It means no conditions on financing, inspection or anything! Be open minded to moving up in price.

4. Deposit Herewith:

A good buyer's agent should be presenting your offer in person with a bank draft regarding deposit in any circumstance possible. No contract is completed without consideration and execution. Consideration in the form of a deposit can give you the competitive edge.

5. Write it Down 

Talk is cheap in today's market. No seller is going to wait on a "phantom offer". An offer is only as good as the paper it was written on.

6. Get Creative

You may be surprised as to how far a good story can go. If you can pull at some heart strings you may be able to win. Share your personal story; share your why, why would you like to live in their home. Personal touches leave lasting impressions. Toss in a photo of the family while you are at it. 

7. Know When to Walk Away

Not everything is worth fighting to the last beat. Know when too much is too much in today's market. Don't be that fool that over pays for undervalued property. 

8. Use The Connexus Group Agents. 

This one might seem a bit obvious...because hey let's admit it, you're here on our website. But we pride ourselves in our winning streak and it's solely based on three strategies that we've put into place. I'm not going to give away our secret. But know that these 3 strategies are solid and have been proven to win a bidding war. We will explain all the terminology and hold your hand every step of the way.