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With a change in the interest rates usually comes discussion about the impact the change will have on the local marketplace. But it’s important to look at historical context when reviewing interest rates in the Brockville real estate marketplace. To help guide you in analyzing your costs and determining the impact of a rise in interest rates, we’ll highlight the changes in interest rate in recent years.
A Historical Context
Looking at Brockville real estate interest rates requires you to carefully consider the historical context for the current rates. While it’s true that prices for homes are at their highest in decades, it’s also true that interest rates at lower than ever before. There has never been a time at which interest rates were lower than they are now. This means buyers are experiencing low purchase costs.
Average Pricing Impacts Payments
The price for your home is a far greater indicator of the overall mortgage payments you’ll pay than the current interest rate, particularly in a market environment where interest rates are so low. You’ll find that the Brockville real estate market continues to be one of the more affordable markets in which to purchase property in Ontario. This is certainly the case when you consider the large amount of lakefront property available in the city. The median 4-bedroom home price in Brockville remains only $249,900 when compared with the local Toronto price of just a 2-bedroom home in the GTA is $449,000, you can see how affordable Brockville is compared with other cities.
A Move to More Affordable Cities
While real estate trends are rarely set in stone, and a new change in government policy can impact the marketplace over a period of a few weeks, there are indicators that highlight the trends as interest rates rise. The data shows that more families are likely to remove themselves from marketplaces such as Toronto and the GTA and seek more affordable homes within a few hours’ drive. Areas such as Brockville, Belleville, and Kingston are set to benefit as interest rates push buyers out of the city and toward a more affordable level of home ownership.
The MLS listings have become crucial for brokers and agents in helping provide another avenue for promotion for their properties. But what about the benefits for buyers and sellers? In our latest post, we’re focusing on the MLS system and the benefits of working with MLS listings for buyers and sellers in Brockville.
Sell Properties Quicker
One of the leading benefits of the MLS listings for sellers is the opportunity to sell their properties more quickly. Sellers will be able to get access to several thousand buyers a day. Each buyer is reviewing local properties knowing precisely what they’re looking for. Since the MLS listings connect Brockville buyers and sellers in this way, sellers don’t have to actively market the property alone. There’s already a forum designed to promote their property and catch the eye of the buyer.
Narrows Down Searches for Buyers
When you’re trying to buy a new home, it can seem as if the options are endless. Many buyers find that there are hundreds of properties that meet their precise buying parameters. The MLS listings are designed to help narrow down the search. The listings sort the properties into specific categories based on the buyer’s unique purchasing considerations, helping them eliminate those properties that are unsuitable from their search and ensuring that the ideal property is found within a shorter timeframe.
More Options Fitting Search Criteria
While the search options can be narrowed down by using the MLS listings, Brockville buyers can also gain more options fitting their specific criteria. Instead of having to choose a property that doesn’t quite fit their precise needs, they can use the listings to find that ideal home that fits their requirements with the utmost precision. It’s the type of service that connects families with that unique property built for their requirements in the long-term.
The Service is Affordable
Another benefit of the MLS listings is that the service is affordable for buyers and sellers. The service is designed so that it’s completely free for buyers and sellers to use, ensuring that buyers don’t have to spend more in reviewing local homes, and sellers reduce marketing costs in finding qualified buyers for their properties.
A real estate agent should be someone with decades of experience and a comprehensive knowledge regarding the industry. But many homebuyers don’t know the steps involved in choosing an agent, and this can often mean they make significant mistakes in the process. In this latest post, we’ll explain how to choose a real estate agent.
Make Sure They Understand the Industry
A key mistake that some homebuyers make in deciding how to choose a real estate agent is they choose a person they know privately who doesn’t have an understanding regarding the real estate marketplace. Not only does this mean that the person won’t be able to answer all of your questions, but it also means you’re less likely to change your mind halfway through the process, leaving you with an expensive mistake. Make sure that the agent has at least a decade of real estate industry experience and has the knowledge to back their experience.
Look for Agents with Local Knowledge
While industry expertise will help you in understanding the process of buying real estate, agents with local experience are required to help you choose the right property in the right location. Local experience means knowing where the transit hubs are and which street will be closest to business developments. It also means that your agent will know the history of a property and of a location and will be able to show you homes that match your buying parameters with precision.
Speak with Past Clients
Make sure when consulting with various agents that you speak with their past clients. Find out more about the client and their experience with the agent. Did they enjoy a strong working relationship? Did they achieve what they wanted from the deal? Meet with a number of past clients and speak with them directly about their experiences. The most qualified agents will be happy to connect you with their clients and provide you the information you need to make an informed, effective decision.
As you start to look for houses and condos for sale in Brockville, you’re likely going to have to make a clear decision about which type of property best suits your ownership requirements. Our team at MINCOM Island Realty, Inc. has experience in the real estate marketplace, and we’ll explain the elements to consider when choosing between houses and condos for sale in Brockville.
- How Important is the Location?
The location is one of the more important considerations for many buyers. Whether it’s being close to job opportunities or simply being in the same area as the town’s main entertainment spots, the location of the property is a decisive factor. It’s why many are now purchasing condos for sale in Brockville as they look to find affordable properties in a convenient location for their family.
- Is the Price Too High?
In some cases, the cost of house ownership will be out of reach for many buyers. That’s because they have to consider insurance, utilities, home maintenance and other expenditures which drive long-term value. However, even though condo ownership is less expensive than homeownership in most cases, buyers must consider the potential for condo fees to rise in the future as a result of work taking place on the building.
- Will We Be Having a Family in the Future?
If the buyer is considering having a family in the coming years, they might consider the amount of space they’ll need when purchasing a property. Oftentimes, condo living isn’t suited to young and growing families, and in these cases a house is ideal. When reviewing houses and condos, make sure to consider the potential for expansion. It’s also important to consider how quickly the unit could be sold in the future if family plans change.
MINCOM Island City Realty, Inc.
Working with a real estate agent can help ensure that Brockville property buyers make the ideal decision for their purchase needs in the future. Our team at MINCOM Island City Realty, Inc. has decades of local real estate purchase and sales experience and we’re here to guide you with actionable market data and guidance. To learn more, call us today.
It’s important to understand debts and how they accrue if you are to achieve a strong financial footing for the future. Our team at MINCOM Island City Realty Inc. works with individuals across the Brockville real estate market to help them understand the process of managing their debt effectively. Within this new post, our Brockville real estate team will explain the differences between household debt and mortgage debt.
Mortgage-Backed by a Tangible Asset
One of the major differences between household debt and mortgage debt is that your mortgage is backed by a tangible asset – your house. If you have a $500,000 mortgage secured against your home, and you paid a 20% down payment for the property, your mortgage will be insured by the CMHC. This insurance means that, if you are unable to make the payments effectively, you have some protection against mounting debt and the accrued interest.
Consumer Debt Accrues with Little Tangible Value
Consumer debt or household debt is a significant problem in Canada. Many people are now choosing to pay for products such as electronics, furniture, and other household items on their credit card. This has sparked a significant trend across the country, and Canada is now one of the most indebted western nations on a per capita basis. Thousands of Canadians are struggling with credit card debt, and have little to show for it but a new item to use in the home.
Focus on Building Equity
The difference between consumer debt and mortgage debt, then, is clear. Those who own Brockville real estate will find they can use their money more effectively by paying down their mortgage and building equity in their home, a tangible asset with significant income potential for the future. It’s important to take a pragmatic approach to this process, however. If you have significant household debt already, you’re far better to start paying off any high-interest loans now than putting more than the monthly amount into your mortgage.
Consumer debt is a common problem for Canadians, but with just a little more knowledge, you can build an understanding of the techniques to reduce debt problems and secure a healthy financial future. To learn more about this topic or any of the trends in the Brockville real estate marketplace, call our real estate team today.
You might not have much experience in buying homes. Many people only buy one or two homes in their lifetime. So, it’s important to go through the process carefully and make sure you’re making the right decision for your family. Our team at MINCOM Island City Realty, Inc. is here to help you when you’re looking for houses for sale in Brockville. We’ve listed some simple questions to consider when moving forward in the purchase process.
What is the Condition of the Property?
The most important consideration when buying a home is the home's condition. Is it an older home or a newer build? Have there been renovations completed on the property in recent years? Make sure you have a clear understanding of the condition of the property and speak with a home inspector to ensure a full inspection is completed. From there, you can then make a more effective purchase decision.
Do We Like the Local Area?
While you’ll be spending the majority of your time in the home, you should also take several trips to the area before buying. Make sure the area has all the amenities each member of the family needs for a comfortable, and happy lifestyle. How close are the major transit hubs such as train stations and highways? What is the quality of the local school system? Are there entertainment options for all family members nearby? These are key questions to review when looking at houses for sale in Brockville.
What is the Price of the Home?
Make sure you have enough flexibility in your budget to pay for the price of the home. The budget should include potential repairs for the property as well as the potential increases to the offer you might have to make to complete the deal. Work with your real estate agent and find out how much you can afford to pay. Make sure that once you've decided your budget, you don't waver. Our team at MINCOM Island City Realty, Inc. can help you find amazing houses for sale in Brockville. To discover more about our work and our experience, contact us today!
When your property has been on the real estate market for several months, you’re likely considering how to maximize your chances of a sale. It’s important to look at that all-important first impression. Honing curb appeal can captivate your target buyer. Our MinCom team looks at several tips for improving the curb appeal of your Brockville real estate.
Curb appeal starts when your target buyer looks at the home online. Make sure that you have the ideal photos representing your property. You should also ensure that the description is optimized to captivate buyers and introduce them to the home’s key features.
Consider the Buyer’s View
When looking through the home consider the buyer’s opinion. What would you want to see if you were a buyer? Are there any elements that need repair? Make sure that you go through all the rooms in the property and fix those small items that might put a buyer off.
Review the Roof
While most owners don’t consider their home roof when selling their real estate, buyers are focused on this area of the property. Make sure that any roofing repairs are completed before you invite buyers for the open house. And try to clean the roof and complete needed maintenance if you’re taking pictures of the home in the coming days.
Wash the Deck
The exterior of the property will also come under scrutiny from potential Brockville real estate buyers. Make sure that you wash the deck space carefully with a pressure washer. And ensure that garden areas’ are neat and tidy. This means cleaning up garden equipment and setting up your patio for that welcoming appeal at the open house event.
Open Up the Home with Light
It’s imperative that your home is filled with light during the open house event. Open up curtains and allow light into your living room so that all the spaces are brightly lit. This will help improve the appeal of all rooms and ensure a positive view from the potential buyer. Our team at MINCOM is here to guide you in selling your Brockville real estate. To discover more, call us today!
When placing your Brockville condo up for sale you need to make sure it is as move-in ready for a prospective buyer as possible. This means setting the condo up to help those viewing the home visualize their own lives living in your condo. Staging your condo is a bit easier than what you might do with a traditional house, as you do not need to worry about the exterior of the property.
Instead, you can focus all of your time and effort on the inside. The professionals at MINCOM Island City Realty Inc. can help provide suggestions for prepping condos for sale in Brockville, but beforehand, here are staging tips you need to take advantage of.
Probably the most important tip you need to follow is decluttering your home. You need to remove as much from the condo as possible. It needs to look "show room" ready. Your real estate agent can help you determine whether certain furniture should go, but in reality, the more you move out the better. This helps the space feel bigger.
Those touring your condo want to picture their own lives within the condo. This is a bit harder to do when photographs of someone else's family (yours) is up around the house. So make sure to take out the photographs.
Right along with that, remove any kind of personalization you may have put into the condo. Perhaps you painted your son's room to look like a baseball field or you have a Star Wars themed office. That's great for you, but most touring the property won't want it, so remove personalization (even if it requires some painting).
You don't need to spend a fortune modernizing your condo. This may simply require you to change out the fixtures. Your real estate agent can give you pointers on what to modernize given your budget. A few touches here and there can drastically upgrade the appearance of the condo ahead of walkthroughs.
When it comes to listing condos for sale in Brockville, you need to properly stage your home. This helps those touring the property visualize their own lives inside the condo.
By following these staging tips, you'll greatly increase the speed of which your property sells. Plus, by working with a real estate company such as Minimum Commissions (Min-Com), you'll keep more money in your pocket after the sale. Contact our team at MINCOM Island City Realty Inc. today!
When it comes to posting your property on the MLS Brockville listings, nothing is as important as the photographs. Here at MINCOM Island City Realty Inc., we want to ensure that every listing has the best opportunity for success by offering these easy tips for the best listing pictures.
Pay Attention to the Details
Before you set up your camera you need to make sure every space is clean, clutter free and thoughtfully laid out. Clean windows, refresh drapery, remove cobwebs and wall smudges, polish wood, and remove personal items. However, don't completely empty each area.
You want to leave enough furniture and decorations to give potential buyers an idea of how the home feels while still allowing room for them to visualize their own belonging in the area.
A Basic Camera is enough
To get great looking photo's you don't have to have high-end equipment. A basic digital camera or even the camera on a smartphone will produce good quality photographs for your MLS Brockville listing. Investing in a tripod will help ensure clear images, but isn't necessary.
Ensure Plenty of Natural Light
The right lighting can make a huge impact on the quality and attractiveness of the photographs so it's vital that you allow plenty of natural light into each space when possible. Open drapes, pull up the blinds and wait for the sun to flood the rooms.
As With Selfies, Angles Matter
When you're ready to start taking those pictures, it's best to stand in the doorway and aim inward to get as much of the space in the frame as possible. And don't be afraid of taking too many, you can easily weed out the less than perfect ones.
Editing Before Posting
There is a lot of free photo editing software available that is easy to use, even for the beginner. We recommend taking a few moments to clean up your photos before posting by removing glare, enhancing, and other small touches.
Homebuyers will skip over listings without pictures, so even low quality is better than nothing. However, listing on MLS Brockville with several high-quality photographs, often get the most views, and it takes very little effort to achieve beautiful results.
If you're thinking of buying or selling a home in the Brockville or surrounding areas, please contact the experts at MINCOM Island City Realty Inc. today!
By learning more on the process of how to choose a real estate agent, you can ensure you find a qualified specialist committing to meeting your needs and finding you that ideal home. Our team has decades of experience within the real estate industry, and in this latest post we’ll explore more on how to choose a qualified real estate agent, in these following five important steps.
1. Get Guidance from Friends
The first step in the process is to get referrals from friends and family. Find out which specialist they used when they bought their home. How was their experience and would they select the person again? Research the agent online after you’ve discussed them with friends and family. Find out more on their experience in the local marketplace and the number of sales and purchases they complete.
2. Ask the Agent Questions Directly
Once you’ve completed local research, it’s time to pinpoint local options and find a specialist to speak to directly. When speaking with the agent, find out more about their real estate background. What led them to a career in the real estate marketplace. What is their direct experience of negotiating on behalf of their clientele? Discover more on how they operate throughout the day. Will they be available to take your calls and to offer you guidance when you need it most?
3. Consider Each Agent’s Competitive Advantages
After completing research and speaking with at least a couple of local real estate agents, you should narrow down each of their competitive advantages. For example, experience in digital marketplace is a clear benefit in today’s marketplace. A key element in the process of how to choose a qualified real estate agent is how familiar the agent is with online marketing and how familiar their name is in the marketplace. These benefits can help ensure your bid is welcomed by the seller and that you find that ideal home quickly.
4. Review Your Own Personal Feelings
Now that you have all the information available, you can take stock of your options and consider your own personal feelings. How did you feel about the agent and their responses to your questions? Were they committed to respond to you or did they take their time getting back to you? Are they available and do they have the experience you need to safeguard the buying process?
5. Select and Continually Analyze Service
You’re then in a position to select the most qualified candidate for the role as your real estate agent. But during their work with you, try to continually analyze the service provided. Remember, you’re still in control and if you don’t feel comfortable, you can choose another agent in future.
Here at MINCOM Island City Realty, we are often asked when is the best time to list Brockville real estate. However, there really isn't a simple answer for such a simple question. In reality, it all depends on the property and the current buyers.
Sales Depend on a Number of Factors
Generally, spring and fall are the busiest times in real estate. However, the best time to list your property will depend on what type of property you are selling, your asking price, your projected buyer demographic, and how well you present the home.
Things to Consider
While the best time to list your home is relative, there are a few things you should consider. First, the busiest times are also the times when you are going to have the greatest amount of competition as many others also rush to list their homes. Also, the Holiday season tends to be the slowest time of the year because people are focused on other things, through Holiday sales do happen regularly enough to make it a worthwhile endeavor.
Families Prefer the Spring
School registration and family vacations are two big reasons families prefer shopping for a new home in the spring to early summer. If your Brockville real estate is one that is great for a family than listing in the spring will likely net you the quickest response.
Higher Price Tags Sell Best in the Early Fall
If your asking price is in the top 20% for your area, you might benefit from listing in the early fall. Those who can afford the higher priced real estate tend to spend their summers vacationing and traveling, leaving the big purchases for after the busy travel season, or early fall.
First Time Home Buyers
First-time buyers tend to buy homes throughout the year. They are not restricted to school schedules and don't often spend extended time away on vacation. First time home buyers also tend to begin their search early, keeping an eye on the listing pages for the perfect home. If your property is a great starter home, you should list it as soon as you have it ready for viewings.
Of course, the home in question will play a big role in when it will sell the best. For more information, or to discuss listing your Brockville real estate, please contact MINCOM Island City Realty today!
Through committed research, you can find that ideal condo property designed for you and your family. But some find that condo living isn’t right for them. Unfortunately, they only find out after they’ve bought their new place. That’s why it’s so important to complete your research before buying one of the condos for sale in Brockville. In this latest post, we’ll explore condo living in greater detail with a full outline of its pros and cons.
For those who have been used to renting for years, condo living presents a greater sense of control over the personal space. You can customize the walls and cabinetry and design the home according to your unique tastes.
- Social Lifestyle
For those who love a social lifestyle, condo living is ideal. Condo buildings have multiple communal areas including meeting rooms, pools and party rooms that present multiple opportunities to become friends with neighbors.
- Prime Locations
In most major cities, owning a condo is the only way in which to buy in a prime location. There are very few accessibly-priced freehold properties in major cities across North America. And so, you can buy a condo if you’re looking to live close to the downtown area while buying into the market at a relatively affordable price.
Most condos also offer amenities that you won’t find in the average apartment building and few families can afford for their freehold home. For example, within condos you’ll find gyms and swimming pools that allow you to stay in shape during the winter months.
- Condo Fees
With other forms of property ownership, your expenditures go down the longer you own the property. However, condo fees generally remain the same throughout your ownership period. You may even find you must pay a higher fee if major work is required on the property.
- Limited Appreciation
Condos generally don’t appreciate in value in the same way as freehold homes across the country. You might see small gains over several years, but long-term appreciation will be limited.
- Repair Responsibility
A major difference between renting and condo ownership is that you’ll be responsible for the repairs within the property. If the toilet requires a plumber, you’ll likely be on the hook for the full cost. You might also take on further responsibility for repairs to the building, as part of condo living arrangement.
MinCom Island City Realty Inc.
There are many pros and a few cons to take into consideration when analyzing the various condos for sale in your local marketplace. Talk to the experts at our MinCom Island City Realty Inc. team before making that final decision. Call today to learn more on what you need to know before buying condos for sale.