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Termites: Everything You Ever Wanted To Know

by Claire Franceschetti

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Recently, President of the Toronto Real Estate Board Richard Silver published an article regarding termites in the Greater Toronto Area. Although termites are not typically a consideration in Vaughan, I wanted to share this article as an informative reference when buying a home. Here it is:

 

What the heck is the market Doing???...Time to Sell.

by Claire Franceschetti

We're seeing crazy things happen on the TSX and Dow Jones. It's shocking to me to see the fall in market points, only to see it regain the next day. These types of market swings shake consumer confidence, and frustrate most investors.

Personally, I don't invest in stocks and funds...I am a huge proponent of buying real estate as a solid investment. However, there is a growing feeling among real estate investors that perhaps we are at the top prices right now. I tend to feel that this might be the case.

Historically, we have seen significant market adjustments occur in the middle of the fall market. The most recent adjustment occurred in October 2010.  With this in mind, I am suggesting to my investor clients that they consider selling immediately where possible. Depending on the location of the property, we typically see homes for sale on the market for an average of 30-40 days. With that in mind, we would need to get things going right away to avoid the October crunch.

Give me a call if you'd like to discuss this issue further. I always love talking real estate!

Buyers Beware: Buying Direct from Listing Agent

by Claire Franceschetti

If you are a buyer who is looking to buy direct from the listing agent with a goal of saving commissions on the purchase price, I have some words of advice: BEWARE!!!

Recently, I sold a beautiful property in a hot little pocket of Woodbridge. The home was immaculate and showed very well. As is the case with hot properties, the sellers received multiple offers, and buyers were competing for the home.

One buyer came to me and asked if I would present an offer to the sellers. I obliged, and was happy to bring another offer to the sellers. In discussing the details of the offer, the buyers told me that because they were using my services, they expected that their lower priced offer would appeal to the sellers because the sellers would save on real estate commissions. They assumed that by using only one agent in the buying process, they were benefiting themselves.  

When presenting all the offers to the sellers, the buyer who was dealing through me was the weakest offer price. I explained to the sellers that the buyers expected the sellers to save on commissions and that their offer price took this savings into consideration.

The sellers were furious with this low-ball offer. They were shocked that the buyer would assume that any savings of commissions would be a benefit to the buyers. The sellers told me without any hesitation that any savings of commission was to benefit themselves, as they are the party that pays the commissions in the transaction. They were not impressed by this offer, and didn't want to deal with these buyers further.

In this scenario, the buyer's assumption was detrimental to themselves. In assuming that the sellers would automatically save commissions and attribute this savings to their offer price, they compromised their overall offer. Not only was their offer price low, but they unwittingly offended the sellers, and undermined their position.

In my experience with Woodbridge properties in particular, many buyers try to get a deal by buying through the listing agent. This strategy is risky...Not only can sellers get offended by a low offer, but depending on the agency agreement in place, the buyers may not have proper representation at the negotiating table. I suggest that there is a benefit to working with an agent as a buyer agent in all real estate purchases. Buyer agents are hired to represent the buyers interests at all stages of the buying process.

Displaying blog entries 1-3 of 3

Contact Information

Photo of Claire Franceschetti Real Estate
Claire Franceschetti
Right At Home Realty Inc.
190 Marycroft Ave.
Vaughan ON L4L5Y2
Direct: 416-918-6325
Office: 416-391-3232
Fax: Fax: 416-987-8001