Buying a Home in Today’s Market.

Some of my clients are looking to buy a home in this market where nobody knows if the market is going up or down. What I sense is that the supply at the moment is quite low. So I tell my clients that if they find the house that they like than just put in their best offer. Everytime I work with my clients on an offer I ask them, “‘If someone buys the house for $10,000 more than you, how would you feel.” This is one of the ways I can find the maximum amount my clients are really willing to pay for a particular property.

Many of my clients are worried about multiple offers and having to bid higher for the homes. That is where the news media are really being trouble makers. Remember when property prices dropped slightly, the media said it was the lowest in 20 years. And just recently the market recovered slightly and the media made it out like there was a buying frenzy and concentrated on a sale that had 20 offers. Do not be affected by the media and do not be affected with people saying, “There’s been 20 showings on so and so property on the first day of showing”. Hype is generally just hype. I had one client that was not going to put in an offer because of that. My advice was to put in an offer with an amount and conditions that they were satisfied with. I said, “Maybe someone outbids you and maybe not. If you don’t try, you can’t buy.” In the end we put in an offer and it was eventually sold to someone else that paid in my opinion way above market value.

If you know anyone that you think will benefit from my services, please either send them my contact information or contact me about your referral.

Kirby Chan
Sales Representative
Forest Hill Real Estate
info@kirbychan.com
www.KirbyChan.com
416.305.8008

By the way… I’m never too busy for your referrals.

First Time Home Buyer’s Guide

What are the benefits of home ownership?

Pride of Ownership

Pride of ownership is the number one reason why Canadians desire their own home. There is no landlord looking over your shoulder. You are able to make improvements knowing that any appreciation that results, will be to your benefit. Home ownership gives you and your family a sense of stability and security. It’s making an investment in your future.

Appreciation

In Canada, especially in the last few years, homes have appreciated considerably and in doing so have added substantially to owners net worth. Unlike stocks and bonds, you get to live in your investment. Also, in Canada your principal residence is exempt from capital gains taxes.

Mortgage Reduction Builds Equity

Each month, part of your monthly payment is applied to the principal balance of your loan, which builds your equity. You can borrow against a home’s equity for a variety of reasons such as home improvement, sending your kids to university or college, or starting a new business. Why pay-off your landlord’s property when you can own your own?

Homeowners accumulate wealth for the future while enjoying the benefits of a shelter that they have can use, improve and sell. Their home is a safe haven for investment.

Are You Ready to Buy a Home?

First – do you have the financial resources? You should have at least five percent of the purchase price of a home for the down payment, but ideally should be more than 5%. Are there other priorities in your life e.g. starting a new business, which require your savings? If not, buying a home should be on your radar.

Second – do you expect to stay in your new home for some time? Moving can be expensive and you will want to build some equity before having to relocate. Your job and home life should be stable.

What Can You Afford?

If you haven’t already gone through the mortgage pre-qualification process, you will need to meet with a lender or mortgage broker. They will establish how much of a mortgage you will qualify for. Mortgage rates vary considerably and it is paramount that you shop around for the best rate, terms and options.

First time homebuyers may want to take advantage of the federal government’s Home Buyers’ Plan. Under this plan, you may use up to $25,000 of your RRSP towards the purchase of a home. The money is tax-free as long as you pay it back in the next 15 years.

Key Issues / Questions To Ask When Assessing Home Features

• Do you need several bedrooms, more than one bathroom, space for a home office, a two-car garage?
• Do you want air conditioning, storage or hobby space, a fireplace, a swimming pool? Do you have family members with special needs?
• Do you plan to have children? Downtown or suburbs? Proximity to recreation or work.
• Do you need a substantial backyard? Pets?
• Is there adequate storage space?
• Will any remodeling be required to make the home move-in ready for you?
• What service providers (cable, Internet, telephone, Satelite) are available in the area, and is the house completely wired for each? 
• How good is the cell phone reception?
• How much are the yearly property taxes?
• How much do utilities run each month? Does the house use gas or electric for the furnace, water heater, and appliances?
• How old are the major appliances, and which are included with the house?
• Have there been any major repairs to the house, and if so, when were they completed? For example, how old is the roof? Has water ever damaged the basement or foundation?
• Ever had problems with insects, such as termites and spiders, or rodents?
• Older homes need to be carefully examined – Windows may need caulking or new sashes, bathroom tiles may need grouting, home may need rewiring (planning on a hot tub or sauna?), a new hot water heater, or a new furnace.

Location, Location, Location

• How far will you be commuting and what is the traffic like? Factor in cost of fuel.
• Where will your children attend school and how will they commute?
• Are there recreational facilities and parks close by?
• Are you close to family and friends?
• Is safety or high crime an issue?
• Is the property close to an obstacle or negative influence? (i.e. an apartment building, shopping centre, school, radio tower, power lines, LRT or railroad track, highway, airport or commercial project).
• Access to schools, work, recreation, shopping centres, public transportation, cultural attractions, libraries, churches and hospitals.
• Adjacent undeveloped land – what is proposed for this or other green space?
• Heavy traffic can be noise nuisance and hazard for children.
• Distance from the unit to amenities, parking, walkways, roads, public transit.
• Does the neighborhood reflect positively on the value of the condo and your lifestyle choice?
• Does this neighborhood, for any reason, have a poor reputation?
• Is the future economic climate for the area good? Are businesses moving in? Is there government investment?
• Are people moving in or out of the neighborhood? What is their age, income level, family size?
• Are there plans for this neighborhood that you may be unaware of (i.e. a future highway, a commercial development or a new housing development) that will provide competition on resale?

Noise and Privacy

• Proximity to highways, driveways, parking lots, playgrounds, trains.
• Proximity to elevators, garbage disposal, fire exits, heating and air conditioners.
• How well is the building soundproofed?
• Visit at different times/weekends to check noise levels and activity.

Too many questions to answer by yourself? That is where my expertise can benefit you. If you are looking to buy your first home, let me guide you through this exciting process.

Kirby Chan
Sales Representative
Forest Hill Real Estate
info@kirbychan.com
www.KirbyChan.com
416.305.8008

By the way… I’m never too busy for your referrals.

10 Bellair Street Condominiums Yorkville Condos in Toronto

10 Bellair Street

Today I will be featuring one of my favourite condominium buildings in Downtown Toronto at Olde Yorkville Village. 10 Bellair Street is an upscale luxury condominium built in 2003 by Tridel and Brookfield. It is conveniently located right in the heart of Yorkville Village at the intersection of Yorkville Avenue and Bellair Street. 10 Bellair presents a most distinguished presence for those who appreciate the value of an extraordinary address.

There are 26 stories plus two penthouse units that are two levels each. Units consist of studio, one, two and three bedrooms units up to 4000+ sq.ft. suites.

The Bellair Club is a 2-storey 5-star fitness and spa centre which includes a landscaped sky garden terrace. Amenities include a “Bellair Club & Spa”, billiard room, Havan lounge, ballroom, 2 guest suites, golf simulator, glass pavilion, conference room, party room and complete exercise facilities featuring an indoor pool, sauna and gym. Residents and their guests may enjoy the recreational room and rooftop terrace with bbq’s. There is security and concierge services operating 24 hours a day. Executive concierge and valet parking.

In my opinion, this is certainly one of the best condominiums in Toronto. It offers lavish suites with superb amenities in a convenient location.

No studio nor 1-Bedroom suites available for sale/lease at the moment.
Available 2-Bedroom suites start at $1,195,000 (approx. 1,500 sq.ft) upto $6,000,000 (approx. 4000 sq.ft.)
2-Bedroom leases starts at $5,300 / month.

<Click here to view units for rent>

<Click here to view units for sale>

If you would like more information on 10 Bellair or to view available units to rent or buy, please contact me.

Kirby Chan
Real Estate Sales Representative @ Re/Max
info@kirbychan.com
www.KirbyChan.com
416.305.8008

Limited Edition Gold Foil Kirby Chan Business Cards Arrived

Gold Edition

My Gold Foil Business Cards have finally arrived. Please send an email to info@kirbychan.com with your Name and Address and I’ll send you one.

On the back of the card, I’ve included a free market evaluation. This is not just any free market evaluation, it’s personally performed by me. I’m a real estate appraiser, trained by the Real Estate Division of the University of British Columbia. For the past 6 years I’ve been a professional appraiser for the major banks, credit unions, insurance companies, lawyers, builders and private individuals. For the free market evaluation please send an email to info@kirbychan.com with your Name and Address.

Next on my agenda is to finish my website. The one on http://www.kirbychan.com is provided by my brokerage. I’m designing a website that comprises of more information and resources for buyers and sellers. I think I need to convey the major benefits I provide, what makes me stand out among the sea of Realtors. The following is what I offer so far in terms of listing promotions.

Online Promotions for my listings

• List your property on my website and 4 of my affiliate websites which receives thousands of visitors a month.
• List your property on www.mls.ca with virtual tour and up to 9 photos
  
• List your property on www.remax.ca
  
• List your property on www.remaxcondosplus.com – over 3 million visitors a month
• List your property on www.luxuryrealestate.com – for listings over $750,000)
• List your property on www.ren.ca – Real Estate News, a division of the Toronto Star
• List your property on www.househunting.ca - The Financial Post
• Property will be marketed to my database of Clients, Real Estate Sales Rep., Mortgage Brokers, Bankers and Appraisers.

Offline Promotions for my listings

• Advertise your property with “Just Listed” cards, mailed out in your neighbourhood.
• Advertise your property in my Re/Max office “Market Report” newsletter. Distributed to 5 relocation companies and 4 newspapers.
• Advertise your property in the Real Estate News Magazine every fourth Friday. REN has a distribution of 200,000+ copies inserted in the Toronto Star!
• Advertise your property in Resale Homes and Condos Magazine.
  
• Photo feature sheets for potential buyers.

Every real estate agent needs to spend money on marketing. I am different because of where I spend the money. I don’t send flyers and junk mail nor advertise on garbage cans and park benches. I save my advertising money on advertising the properties that I list for my clients. Please leave me a comment with suggestions of anything else that I can do. I want to provide service that is above and beyond any other.

Kirby Chan
Real Estate Sales Representative @ Re/Max
info@kirbychan.com
www.KirbyChan.com
416.305.8008

Earn Aeroplan Miles when Buying or Selling a Home

Today I approved my final design for my Business Cards. I should be getting them by the end of the week. In the meantime I’m writing my info on blank cards from my Brokerage.

I was reading REM ( Real Estate Marketing) today and read an article about offering Aeroplan Miles to clients. It was a great client rewards program that went well with the services that I provided. I registered and will be offering 500 Aeroplan Miles for every $10,000 in final transaction price, purchased and/or sold. So for example, a $300,000 transaction price will give my clients 15,000 Aeroplan Miles for using my services.

The best thing is that there are no fees to register so there is nothing to lose.

The bad thing is after a quick survey from my circle of influence, only 1 person has Aeroplan Miles, with the majority using Air Miles.

I’ll continue to monitor this and provide updates later on.

Aeroplan Miles

Kirby Chan
Real Estate Sales Representative @ Re/Max
info@kirbychan.com
www.KirbyChan.com
416.305.8008

Hello

This is my first post. My name is Kirby Chan and I want to succeed as a Real Estate Agent in Toronto. I joined Re/Max Condos Plus in Downtown Toronto. A lot of people was concerned that by joining this brokerage I would be alienating homes. But I tell them, it’s not the brokerage people are interested in, it’s ME. I want to turn Kirby in to a brand, KIRBY. When people see KIRBY in gold letters, I want people to see prestige, honour and excellence.

I’m a graduate of art design. Worked in that field for 3 years and when that couldn’t pay the bills, I went back to school for Real Estate. I became a Real Estate Appraiser for 6 years and got interested in the sales side of the business. Mid 2008 I started the OREA real estate course. Compared to UBC’s appraisal course, it was like primary school. If there are any students taking Phase 1,2,3 feel free to ask me any questions.

When I shopped around for a brokerage, I based it on my goals. I went for the best and biggest brokerage, Re/Max. However, it seems that 9/10 Re/Max brokerages didn’t want to give newcomers a chance. They had really uncompetitive commission splits compared to the other big 5 brokerages. I would pay for the Re/Max name but I wasn’t willing to pay that much. In the end the 1/10 Re/Max brokerage that was fair was Re/Max Condos Plus. So even though I didn’t want to solely do Condos, I joined them.

I’m designing my business cards, website and advertisements now.

Right now www.kirbychan.com is the basic site from the brokerage.

So my first line is, I want to succeed. My definition of success would be 50 happy clients in 2009. Did you ever watch Jerry Maguire? I want to be the JM of Real Estate Agents. “Show me the money!”

Thank-you for stopping by.

“I work for my clients because I am not working for the money”

Kirby Chan
Real Estate Sales Representative @ Re/Max
info@kirbychan.com
www.KirbyChan.com
416.305.8008

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This is a test post.  - Click here to read my blog -

My blog is – http://kirbychan.wordpress.com
My website is – www.KirbyChan.com
My email is – info@kirbychan.com

I am a member of the Toronto Real Estate Board (TREB) www.torontomls.net. I use Rogers wireless service and use bell internet service at home. I use gmail, yahoo mail and hotmail. I have a PS3 from playstation and a wii from nintendo. I drive a Mercedes Benz B200 from mercedes-benz. I live in a detached house with four bedrooms and 4 bathrooms. My basement is unfinished. My wife and I renovated our kitchen last year. Other minor renovations were interior paint, light fixtures, cornice mouldings, built-in cabinetry in Laundry and wallpaper from farrow & ball and romo fabrics. Please vist http://decor8blog.com/ for great interior design ideas. I would like my website and blog to be as popular as http://www.topagent.com/ and http://blog.topagent.com/

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Kirby Chan
Real Estate Sales Representative @ Re/Max
info@kirbychan.com
www.KirbyChan.com
416.305.8008