There are several avenues available in the world today to make fortunes. One of the easiest ways, even for the common entrepreneur is real estate investing. Many stories abound, which point to the fact that investing in Collingwood real estate can be a very lucrative venture.
Real estate is an amazing method for any shrewd investor willing to learn about the risks, options, and potential rewards involved in this form of investment. Here are some of the most common real estate investments for the Collingwood area.
1. Rental Property
Unlike other investments gains value over a period of time. But few people are willing to wait for long periods of time for all the properties they have accumulated to appreciate in value. Most property investors overcome this by renting out their properties in the ski season while their values are rising. This makes the venture less risky since the tenants cover the note on the property.
2. Pre-construction Investment
This form of investment has a very high risk profile and can easily go awry. Most investors got to know how risky this venture was when the property 'bubble' went bust. Though there are risks involved, many millionaires have been made through pre-construction investing and many more will be created in the future. Pre-construction investing is a form of investing in which investors purchase 'options' on property before the ground is broken. This is prevalent in high demand areas that are likely to experience shortages in housing since prices rising fast, and units being sold even before they are completed and before money actually changes hands.
3. Flipping Houses
This form of property investment has improved greatly over the last few years, because of the popularity of home improvement and house flipping shows on cable TV shows. An increasing number of people are attracted to the idea of investing a little money and reaping huge profits in a very short time frame. However, it is a lot easier on TV than in person, and often, people have unrealistic expectations with regards to costs and ability. Although it is also very risky, it has a high profit potential with short periods of time just as the TV shows indicate.
4. Buy and Hold
As stated above, the value of real estate in Collingwood tends to improve over time. Even if the builds are in bad shape and in dire need of repair, the land on which it is built gains value as the years go by. So, by purchasing large parcels of land or lots of houses and keeping them for several years before selling can solve a lot financial issues like mortgage payments, fund college education for children, pay for weddings, and supplement retirement funds. In most cases, the longer these properties are held, the better since there is a greater opportunity for the property value to increase.
5. Lease Options
Everybody on planet Earth goes through financial hardships at some point in their life. And people are often denied normal home loans because of their inability to pay their debts in the past. This makes them more welcoming to the idea of rebuilding their credit while at the same time, working to achieve their goal of home ownership. For these people, the lease option is a workable and valued solution. Investors who are willing to take the risks find that the rewards are certainly well worth all the risks.
These are just some of the investment opportunities available for those interested in purchasing homes for sale in Collingwood as an investment avenue. Commercial real estate investments also have the potential to bring in huge profits as well as the planning and development of housing communities as well. Real estate investment certainly offers a lot of opportunities of the shrewd investor, who is not put off by the risks involved in the different investment options.
Published on May 5, 2014 • Read more
Curb appeal is important. Prospective buyers will take one look at your house and decide - in seconds - whether your house could possibly be the right property amongst all homes for sale in Thornbury. Once you can get buyers into your home, what they see next makes all the difference in the world whether you make a sale or not.
People need to be able to see your home as theirs, not yours and staging your home can help prospective buyers see the potentials themselves.
Staging is simply the process of preparing your home for sale. Depending on your home and your needs, you can either stage your home yourself or hire a consultant. Whichever way you choose to go, know that staging your home is the best, and the fastest, way to sell your Thornbury home in today's market.
Since your objective is to sell the home, you must clean, de-clutter, and rearrange your home in order to show it at its best. If cleaning means painting, then you paint. Bathrooms and kitchens are high traffic rooms and should be thoroughly cleaned and sparkling. Clear all clutter off counter tops and dressers. Organize drawers and closets (yes, people will look.) Remove any furniture that might be in the walking traffic flow of the house, and be sure to leave clear walkways to all windows. Windows and screens should be sparkling clean.
Keep it simple: a bed and a dresser are all that is needed to show that 'this room could be a bedroom'. A small table and chairs identifies the dining room. Simple decor (no personal pictures or special items should be left out) could include small vases, with or without flowers, and unlit candles. It doesn't matter how the perspective buyer wants to use the rooms, you just showcase them for what they are to you.
Once you decide to sell your home, you should begin to think of it as belonging to someone else. Look at it through their eyes and you will see what needs to be done to prepare your home for the market. Do not hesitate to call in professionals if you think staging your home will be too much work. Professionals are happy to have the work. Finally, talk to your Thornbury real estate agent before you start any projects. You want to know just what major upgrades are needed to ensure that the payoff is worth your investment. Selling it is what staging is all about.
Published on April 9, 2014 • Read more
Selling your home can be confusing if you don't know what to do. When you bought your current home you were the buyer and not the seller. Now it's your turn to be that seller and you can have a successful sale if you follow a few simple tips. While the whole home selling process is pretty much the same everywhere, you should be aware of your local market.
1. PlanningIf you are planning to sell your current home and are hoping to buy a new home, it is best to first find out if you qualify to buy right now. Once you know you qualify then it is time to stage the house. This requires a lot of work, but is well worth the time and effort.
2. REALTOR®Once you feel ready to sell, then it's time to look for a REALTOR®. Talk to as many local real estate agents in Owen Sound and their customers. You want to know exactly what they offer and what their views on marketing your property are. You will work closely with this person (or group) so choose wisely.
3. ListingThere are several types of listing agreements available. Each one of them will offer you a different level of involvement with your broker. You and your new Owen Sound agent should work together and decide how much you are willing to spend, and how much time you are willing to put into, the whole selling process.
4. PricingCheck what listings are for sale in Owen Sound for a baseline to set your price. You don't want it too far below market value that people wonder about the condition, or too far above market value that it scares potential buyers away. Good pricing follows market trends. Don't forget to add those extra fees to cover all the costs of selling the home.
5. Prepare to SellWith the right price, in the right market, your house will sell fast. Be prepared by always having your home staged and ready. If you are using an agent you will be asked to leave so the agent can show the house. If you are selling on your own then you should prepare a brief speech that details the highlights of your home.
6. OffersAll offers should be in standard forms that will satisfy any lawyer. Know what the buyer wants and doesn't want included in the deal. You, as the seller, have the final say and may accept or reject – or even modify and negotiate longer – any offer given.
7. Signed, Sealed and DeliveredOnce you reach an agreement and all papers are signed and are cleared, then you are home free and ready to move on to your next big adventure. Congratulations, and have fun!
Published on April 4, 2014 • Read more
Contrary to popular belief, the best Collingwood real estate agent is not necessarily the one that has the most sales or experience. The qualities that distinguish between a good agent and a great agent includes someone who is eager to listen to you, works with your budget and time frame, and is very qualified to handle your unique needs.
Since each person looking to buy a home is unique, with some having credit issues or might even live out of province; others might be looking to sell their current homes in addition to buying a new one. It must be noted that the needs of those looking to buy homes are varied, in the same vein; real estate agents should have all the tools and skills to meet those needs.
Here are some important steps you should take when selecting the perfect Collingwood real estate agent to help you purchase in the Georgian bay area.
1. Make enquiries from friends and family
No one knows you as much as your family and as such, they are in the best position to suggest the right agent that can give you what you want. Your friends too can make recommendations for referrals and you can trust their judgement instead of that of a total stranger.
2. Talk to several agents in and around Collingwood.
According to a statistic I saw, about 84% of home buyers choose an agent after just meeting the very first one. This could either mean that they are good at selecting met the best one so fast, or they simply rushed the whole process. They probably did both.
Although you don't have to stress yourself out with interviews after another, at least 3 agents that work in Collingwood, the Blue Mountains and Thornbury should be spoken with to determine which of them you are comfortable working with.
3. Take into consideration the vibe factor
Although professional expertise is a must when deciding on which of those agents to work with, interpersonal skills are also very important. You don't want to be stuck with a person whom you are not comfortable with for up to 2-12 months! We all have unique temperaments, which is good. But when it comes to working with a professional, your personalities have to be in sync.
Before deciding on the final real estate agent, you should ask them how they hunt homes for sale within Collingwood. Most agents over time have developed a liking for some listings that they work with. But it is about what listing you want to work with and not theirs. Especially since you are paying for the service- "you're the boss". So make sure that the agent is willing to check the MLS® alongside their own preferred listings.
5. Study all documents carefully
This piece of advice is so popular for a good reason. It is pertinent that you thoroughly read through every document that is presented during the home buying process, especially the agents' agreement. At some point, the Collingwood real estate agent you go with might ask you to sign an agent agreement.
The agreement usually states that the REALTOR® is to be credited with the sales of whatever property they show you. It is basically a standard document in most cases, nevertheless, be sure to read it carefully.
Published on April 4, 2014 • Read more
Anyone who is trying to sell their Southampton real estate property or has recently sold one is likely familiar with a process called FSBO. Most are under the impression that this method will save them a ton of money in commissions. Contrary to popular belief, this is not the case. Keep in mind that when you see the advertisements about FSBO it's a fact that many of those "saved" dollars are actually used entirely by tasks that are typically performed by a REALTOR®. The only difference is that a REALTOR® is a professional. You are not. Consider this in your mind: If you are having heart trouble, would you go see a Dentist? Or a Cardiologist? Of course you would go and see someone who specializes in matters of the heart! The same should be true when you go about selling your Southampton house or Port Elgin cottage. A professional should always be involved.
If you want to protect your investment, hiring a local Southampton REALTOR® or Port Elgin Real Estate Agent is of the utmost importance. It is their job to simplify the home buying process as well as help protect your investment. They are skilled in marketing, which is an essential part of the home buying process. When you try to sell your home on your own you will not have half the access to the vast variants of advertising mediums. You will have your home showcased on your REALTORS®' web site. A REALTOR® will ensure your home is viewed by even more willing buyers. Your home will also be advertised in all local newspapers and general information sheets which are available all day every day.
Additionally, REALTORS® rub elbows on a consistent basis with other agents that sell Southampton real estate. A great REALTOR® will put the effort it takes into showing and marketing your home to their friends and colleges, which means your home will be viewed by a bigger pool of potential buyers. If your goal is to provide your home with maximum exposure in a positive light so it sells quickly, then list with a real estate agent. Don't be one of the many that starts the FSBO process only to later realize that they should have listed with a REALTOR® sooner.
Published on March 31, 2014 • Read more
Many people these days are paying interest to the potential of making good money when investing in Orangeville commercial real estate. The reason for this is that one can often get a great return and one that is better than that from a bank or other forms investing. Those who have always desired to invest in the market of commercial real estate have been worried about the current state of the residential market with its ups and downs in prices, the length of time on the market - these are concerns people face when they consider to purchase commercial.
However, one must always realize that there is a large difference between that of commercial real estate in Orangeville and that of the residential sales in Orangeville. This is because the laws and the markets operate in a different way. One should still make sure that they have their property carefully inspected. One should also ensure that they get the inclusion of any easements when they sell if these are needed.
Easements are thought by many as a burden on a property, which may be considered for the utilities and for other factors such as the sewer. However, there are situations where easements will actually benefit the property and in some situations the property will need to have an individual take their vehicles and drive them over the land which is still in ownership by others. In these situations the individual who buys a commercial property may require the easements that may be needed for the parking and the entrances and exits, which should be included in the final agreement.
One of the best ways to see if any easements are needed is for the individual to request a survey of the property as this will outline any easements that may pertain. A legal description which outlines the easements of the property should also be reflected within the title insurance commitments. A search must be done by the title company for the commercial real estate property that is being bought. This is for the following reasons:
- One should be able to know whether the individual who is signing the agreement of the easements or the deed is actually legally entitled to show a property interest;
- One should also know that there will be no burden attached to the easement property that many results in the prevention from the individual using it;
- It may also be important to find out whether the taxes on the property easements are still current. An unfortunate situation would occur if the purchase was made on the commercial real estate property which resulted in a pendent on the easements and a discovery that there is a tax sale on the property.
It is always important to insist on an attorney who understands the rules of commercial real estate in Orangeville as well as that of residential real estate, as the industry of commercial is completely different.
Published on March 30, 2014 • Read more