Momentum set for 2013

Alberta has lead housing sales in Canada for 2012, and Calgary is projected to be the hottest investment city for the next three years as per the Real Estate Investment Network (REIN) research.

However, housing prices fell in 10 out of 11 major markets for the first time since 2009, which speaks to Toronto’s condo market, having seen a 16% dip in sales and a 38% decline for the sales of detached, semi-detached and townhouses from 2011. Sales have fallen drastically for Vancouver dropping 29%, but sellers are holding close to their price or electing to take the property off the market.

The new mortgage rules implemented in the summer are having an impact on the First-time home buyers who are being pressured out of all markets across Canada. However, if prices start to dip, we might see First Time Home Buyers gain momentum while interest rates remain low. Rates are expected to stay low throughout 2013 with only marginal increases nearing the later part of the year.

Canada’s exports are not faring well, and our Q3 growth numbers were disappointing, but we are expected to rebound with 2013 forecasts of 2.3% and 2% growth by The Bank of Canada and the Finance Department respectively.

While there is still uncertainty with local market conditions and challenges facing many of our global partners, 2013 is projected to heed positive results. A necessary housing price adjustment, low interest rates, increase in growth and exports, and stable employment should keep Canada’s economy moving forward while reorganization is endured globally.

iVanity Card #3: Politics – is there room for MILFs?

I have always had an interest in politics, but over the years I have found myself further and further removed from the leaders, platforms, and political party agendas. Family, career, friends, and other life balances tend to take precedence. The other day, I came across a CTV tweet: Opinion: Christy Clark still faces that double standard, an article by David Obee, a columnist from the Victoria times.

The article gives what I believe to be a level headed view of a controversial question asked of our Premier Clark on December 19 while being interviewed by a Courtney Radio station.

98.9 JetFM host Drex asked, “On behalf of a listener, what it is like to be a MILF?”

“You know, I take that as a compliment … you know, it’s one of those things,” Clark said. “Better a MILF than a cougar … so tell him I said thank-you.”

The article interested me enough to learn more about the instance. I googled “Christy Clark MILF” and found most other columnist and bloggers were not as forgiving as Obee, and were outright disgraced with Clark’s off-the-cuff remark that “mocks” all women. Others even harshly attacked David’s article for being clearly a Liberal suck up.

Although I feel that this issue has been largely overblown, I can see the pros and cons of the situation.

PROS For Clark	CONS For Clark
It was an inappropriate question for the DJ to ask in the first place and she answered the question quickly and with whit to move on to the next topic.	Clark had an opportunity to make a stance on women’s rights and chose a more conversational approach. Even though the answer was playing along with the station, it was not a politically intelligent response.
It was a compliment, why wouldn’t you want to be a MILF; far beats being told you’re a dried up old hag. After having kids and working in politics for years, feeling attractive can really help to spice things up a bit!  I don’t see how MILF is equal to slut or whore (as  stated by bloggers)…it came from American Pie for crying out loud.  Just because someone would like to be with you, doesn’t mean you’ll let it happen.	A MILF or not, the question should never have been asked to a political leader, regardless of the radio station and its listening audience’s demographic. A compliment or not, it has an air of disrespect when asked to a leader in a public forum.
The attention brought awareness to Clark’s BC tour.	The attention also brought comparisons to Clark’s previous incident with Richard Branson and his nude kite-surfing invitation.
She has a sense of humor, dresses a little more risky and speaks before she thinks.	It would seem the public is asking for dry personalities, fully covered bodies and completely scripted conversations at every waking moment…Ah that’s why we have so many fantastic, interesting and likeable politicians!
The interview has been removed from the internet out of respect of the Premier and her family.	What else was discussed?  Why can’t the public hear it if it was already distributed.  What about all the blogs…it’s being reported anyways.  I would love to know how she handled all the other questions from that particular interview; you would hope that could work in her favor?
The question was asked in an environment of fun and whit – a rock radio station.  Some times the public needs to let the guard down and let fun and games be fun and games.	Obviously some people will always take her comments more seriously and literally than others.
She showed her street smarts by understanding “MILF” and responding with another common reference; “cougar.”	Not the time to prove what you know and joke about it.  As Premier, her audience will often extend beyond its initial one.

Ultimately, I think the question was asked in fun and Clark answered in fun. She took the question in stride and showed her lighter side. I understand if others disagree and see this as a serious political and feminist faux pas, but you know what – it really didn’t matter what Clark said, she would have been blasted even if she disregarded the questioned or said that it was inappropriate. Clark would have been picked apart by those who either think she’s an extreme feminist or not able to understand good fun. Quite honestly, how could the Richard Branson “nude kite-surfing invitation” even be comparable to this MILF comment. The only thing common to me is that both were instigated by male counterparts that obviously have a “thing” for Premier Clark.

Gabe Kadoranian

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BUSINESS BASICS

Started as a Realtor in: 2009

Specialization: Langley, Cloverdale, North Delta, and Surrey

One-piece of advice for your clients: Don’t be afraid to be vocal. I strongly encourage my clients to voice any inquiries, concerns and feedback they may have along the way.

Why Sutton? There is great value in Sutton. There are 19 offices across the Lower Mainland and the Island we were #1 in transactions in 2011. The training and support is great and the company keeps me educated on all industry changes.

"From the initial meeting we had with Gabe we knew he was the one for us. So sure, in fact, we cancelled all other interview appointments with real estate agents that very day. He arrived prepared and really listened to us, and by the end of the meeting we knew he was genuine and sincere in the quest to find us the perfect home for our unique needs. We were most taken back with how honest he seemed and how easily we felt we could trust him. We truly felt supported by his wisdom and knowledge of the housing market. When we started to feel panicked or overwhelmed Gabe was always there to calm us down. I am so glad we had the opportunity to work with Gabe. I don’t know what we would have done without him. We talk often about what a great experience working with him was and how we happily welcomed him into our family. I can’t recommend him highly enough!!” -Erin H. and Matt P, Clients

Q & A

1. What differentiates you from the 11,000 licensed real estate agents in the Greater Vancouver area?

1. Outside the box thinker
2. Stress-free transaction
3. Honest and approachable
4. Innovative and analytical Strategies

2. What has been your favorite client experience? That’s a tough one! Earlier in the year I had clients that were first time buyers. We viewed a variety of townhomes/condos and came across a beautiful 2-bedroom condo with a fantastic view. The property was a court ordered sale (foreclosure), which meant that even after an accepted offer, we may have to compete with another offer on the court date. Additionally, if there was another offer, the amount would not be disclosed.

Prior to the court date I prepared information regarding market activity and recently sold units. From these details, I provided a recommendation on a “ceiling price” in the event they were in a multiple offer situation. On the court date, we anxiously waited at the courthouse to see if another offer was presented. The bad news, there was one. The good news, our offer was just enough, to secure the home. All our preparation and client/Realtor collaboration paid off to get the home they wanted without paying more than they needed. We definitely got the house at the best possible price!

3. What has been your favorite success story? I recently had clients that were relocating from Alberta. They were looking for a long-term family home with a rental suite. After viewing homes in a few different areas, they found the perfect one in Fleetwood. We managed to view the property on the day it was listed. I felt the property was priced well and my clients agreed and we made an offer the same day. After some intense negotiations, an accepted offer was received the following day.

Less than six months later, the same client received a job offer back in Alberta, an offer that she could not refuse. Applying my marketing strategies I was able to sell the property in three days for almost $30,000 over the original purchase price. A happy story times two!

4. What inspired you to be a Realtor? I have a passion for innovation. I like that I have the ability to tap into creative brainstorming and use outside the box concepts to help people with their biggest transactions…and I get to do this on a daily basis.

“He’s Awesome. I find him progressive, professional and I love that he’s very ethical. He’s a really great agent.” -Suzanne Carswell, Broker/Manager at Sutton Group West Coast Realty

PERSONAL SNAP SHOT

About: Gabe grew up in North Delta with his 2 brothers and sister. He now lives in Surrey and enjoys spending his free time playing the guitar, golfing and jet setting around the world.

He’s Unique because…If he weren’t a real estate agent he would be in the entertainment industry; if not that, he thinks he would enjoy saving peoples lives as a paramedic.

Likes (If you had more time, what would you do more of): Gabe likes travelling mostly because he enjoys learning new cultures and meeting all kinds of different people.

Loves (can’t live without): Golf and eating out!

THE EXTRAS

Gabe believes that clients are looking for a Realtor that is knowledgeable; first and foremost they have to know their stuff. “There also has to be chemistry so that they can be open with one another, it’s very important, ” says Gabe. “Being upfront and telling them what they need to know is key.”

The best part of Gabe’s job is meeting and helping new people and getting the opportunity to be creative and activate various ideas to achieve success for his clients.

When Gabe is not thinking of his next client campaign or realtor tour, he is updating his education through the Real Estate Board and Sutton programs and meetings. He says the hardest part of being a Realtor is stepping away. He is constantly thinking about Real Estate for most of the day and it’s hard to turn the switch off, especially when he’s always thinking of new creative business strategies.

Contact Gabe

Assumable Mortgages making a comeback

What is an Assumable Mortgage?

An assumable mortgage is a mortgage that can be transferred to a third party without changing the terms of the original mortgage. The seller will need to verify that the original mortgage is assumable while the lender will require approval of the buyer prior to the assumption.

With the current market conditions as they are, there’s a strong sense that assumable mortgages will be making their return, as featured by the financial post.

Advantages of an Assumable Mortgages?

When the market has more homes for sale than potential buyers, an attractive mortgage rate can help boost the appeal of a home and even have the seller get more than the listing price. In a buyer’s market, especially when mortgage rates are rising, low-rate mortgages provide buyers a built-in interest savings until the mortgage maturity. Even though a lender may charge a fee to complete the transaction, the closing costs on an assumed mortgage are likely lower than that of a new loan.

Risks of an Assumable Mortgage?

Although the buyer takes over the remaining payments on the mortgage and becomes legally responsible for the mortgage terms, the lender can still hold the original seller personally liable for the mortgage if the buyer were to default on the loan. However, CMHC has adopted a new policy that makes a seller of an assumed mortgage no longer liable if the buyer has made 12 consecutive monthly payments.

Assumable Mortgage options:

1. The buyers assume the full mortgage and take responsibly of the mortgage fulfillment. A fee may be charged to the buyers to complete the assumption.
2.  If the buyer assumes only a portion of the mortgage, the remaining outstanding mortgage will need to be paid off by the seller possibly with a pre-payment penalty fee. A fee may be charged to the buyers to complete the assumption.
3. If the buyer requires an amount higher than the outstanding mortgage balance they can apply to add-on to the existing principal balance for a new blended rate. A fee may be charged to the buyers to complete the assumption.

To learn more or discuss your assumable mortgages options contact Irene. Learn about Vendor Take-Back Mortgages

Jon Samuel

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BUSINESS BASICS

Started as a Realtor in: 2010, but has had previous experience in property management and the banking industry in addition to completing a degree in marketing.

Specialization: Downtown Vancouver, Richmond, Vancouver West

One-piece of advice for your clients: Get a good Realtor. Don’t base your most important purchase with someone just because your neighbour’s husband’s dog walker is a Realtor on the side.

Why Sutton Seafair Realty? Sutton is well known in Canada. They offer an environment that fosters nurturing and support. I work closely with a team that celebrates each other’s strengths rather than competing against one other.

“Jon sold a place I was renting out and he dealt with the tenant and made it easy for me. He hosted open houses every weekend, both days. He sold it for the best prices in that building, even up to now I still got the best price. It was a great experience. Jon later helped me buy a place and fought for a good price. I would deal with Jon again, hands down.” -Serge, Client.

Q & A

1. What was your favorite success story? Winning a multiple offer situation for clients with other higher competing offers. I took the personal approach in speaking with the sellers. I met with them in person and explain why my clients were the right choice for their home. Both of the other offers, although higher, were sent in by email. I was physically there, and got the sellers to meet my clients. I wanted to show the connection and excitement my clients had for wanting to raise their family in the home. I’m about building strong relationships, and not just with my clients, but all parties involved.

2. Do you have an interesting client experience you would like to share? I had the opportunity to learn a lot from my first client. Working with her, I found myself getting frustrated; she was someone you would call “indecisive.” We saw at least 35 places before she was able to be confident in her choice. Going through the process was challenging, but I got to see a lot of product myself and, more importantly, it taught me to be patient and help advise on what is important to my client in finding a home. In the end she was able to get everything she wanted in a brand new home.

3. What do you do to keep yourself educated and informed on the market and regulation changes? I am constantly reading the news, latest market stats, economics, and doing my own critical analysis on Vancouver; it’s a micro-economy not like the rest of the nation, world or the US. I look closely at why we are different. I also attend the board and association educational sessions. I am always reading and I enjoy the investment I put into my career.

4. What differentiates you from the 11,000 licensed real estate agents in the Greater Vancouver area? My value as a consultant comes from combining my background and expertise with my clients’ needs. I wouldn’t recommend something that I wouldn’t do myself; I think of their money as if it were mine. I listen to what they need, give them their options and advise them so that they are confident in their decisions.

I work closely with a successful team of Realtors. We have access to 12 different languages between and we utilize this for communication with clients, language specific negotiation situations (i.e. international buyers) and the people who list their home with us love us for it!

I do what I can do go above and beyond. I had one client that had the installation of new countertops as a part of their conditions. They had a limited timeline and could only picked them up between 9-5pm; within hours and a location they couldn’t get to with their work schedule. It was nothing for me to make the drive to Abbotsford to pick up and deliver so they could be installed before completion. My clients are still so thankful for my little gesture, but its something I would do for any of my family of clients.

"Having had joint meetings with Jon, I am proud to call him one of my colleagues. Jon’s patience and client care shines through with his thoughtful questions and with his discussions with his clients. From my experience, Jon listens to his clients and tries to understand the root of their issues before finding a solution – a practice that provides better results and happier clients. If you speak with Jon just once you will know what I mean." -Eitan Pinsky, RBC Mortgage Specialist

PERSONAL SNAP SHOT

About: Family is the most important thing in Jon’s life. He is thankful for having such a strong foundation and support system. There aren’t too many things he would put in front of his career, but family is one of them

He enjoys the outdoors in both summer and winter and is looking forward to snowboarding. However, he took advantage of the extended summer by filling in activities such as biking along the sea wall. He manages to also fit in wine tastings, art shows and hanging out with friends.

He’s Unique because… 1. If he weren’t a Realtor he would be a therapist. 2. He likes to spend some of his driving time learning new languages or listening to people that inspire him.

Likes (If you had more time, what would you do more of): Expanding his business or coming up with creative ways to help people. Continually improving his level of service.

Loves (can’t live without):  What he does for work and eating out while trying new restaurants. Ideally he loves combining his loves together, like having a business meeting over dinner or talking about investments over a beer or scotch. He likes meeting with his clients in a relaxed atmosphere; it makes it more enjoyable to talk about money, investments and real estate.

THE EXTRAS

Jon loves that he gets to help people write a part of their life story and build relationships that he truly values. Though there can be challenges in working with uncooperative realtors from time to time Jon thinks his clients know how enthusiastic he is about what he does and can easily see how much he cares about their needs, support and efforts to go above and beyond. To do even the small things that can make a big difference to a client’s experience.

Jon’s believes his best feature is his ability to give objective advice based on the client’s needs. He works with a variety of clients, but has typically attracted first time homebuyers (FTHB) or investors. He takes the time needed with FTHB to walk them through the process, nurture their needs and calm their nerves. With investors, Jon has a background in banking and property management that allows him to cut straight to the dollars and cents. He is also able to review the target demographic for rentals and take a holistic perspective on the investment.

He genuinely likes helping other people and, being a real estate agent, he feels he can offer his expertise to family and people he cares about.

Contact Jon (in any of 10 languages)