buying a house

Learn more about ERA real estate and Alex vidal at:

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IG: @erarealestate

LinkedIn: https://www.linkedin.com/company/era-real-estate/

Alex Vidal

IG: @vidalalex

FB: https://www.facebook.com/alexvidalera

LinkedIn: https://www.linkedin.com/in/alex-vidal-president/

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Back2Basics reconnecting to the essence of YOU (podpage.com)

Follow us on IG and FB @Back2BasicsPodcast

In this episode of "Realty Bytes- Conversations on Real Estate and Lifestyle," we speak about the timeless debate of choosing between an old home and a new one. Which choice is right for you?
We uncovered a variety points to consider, when selecting between a new build or an older home.

Here's a quick rundown of some of the key topics we covered:

• Character and Charm vs. Modern Amenities: We started by comparing the unique features of old homes, like original hardwood floors and crown moldings, to the modern amenities of new homes, including energy-efficient appliances and smart technology.
   
• Maintenance and Renovation: Discussed the potential need for updates and maintenance in older homes versus the low maintenance and warranty advantages of new constructions.
   
• Energy Efficiency: Highlighted how new homes are often more energy-efficient with advanced technology, while older homes might need efficiency upgrades.
• Location and Community: Explored the charm of established neighborhoods with older homes against the fresh start offered by new developments.
   
• Cost Considerations: Broke down the financial aspects, including initial costs, renovations, and long-term maintenance of both old and new homes.
   
• Historical Value and Restrictions: Talked about the cultural significance and possible renovation restrictions of owning a historical property.
   
• Personal Preferences and Lifestyle: Emphasized the importance of aligning your choice with your personal lifestyle and preferences.
   
• Investment Potential: Analyzed the investment prospects and market trends impacting both old and new properties.
   
• Environmental Impact: Discussed the sustainability of renovating an older home versus the eco-friendly aspects of new constructions.

We wrapped up the episode with the reminder that the choice between an old or new home is deeply personal and depends on a variety of factors. Whether you lean towards the historical allure of an old home or the sleek appeal of a new one, it's all about what fits your needs and dreams best.

For more information you can check out or BLOG at https://www.realtybytes.ca/blog

Contact information:
Evelyn Lopes | The Evelyn Lopes Realty Team | iPro Realty Brokerage
905-965-5902
evelyn@evelynlopes.com

In today’s episode, we’ll dissect a recent video about a compelling way to build wealth—buying ten properties before the age of 30. Tune in as we address the comments on the video and provide tips on how to ace this strategy, kickstarting your journey as a real estate investor!

Key takeaways to listen to 

• The right way to acquire rental properties
• A low barrier to entry real estate investing strategy
• Pro tips on investing in real estate with limited funds
• Cost-effective marketing strategies you should try out

Resources mentioned in this episode

• 10 Rental Properties Make You RICH - YouTube
• The Millionaire Next Door by Thomas J. Stanley and William D. Danko | Kindle and Paperback

To connect with Randal and learn more about passive investing, visit www.ridgelineig.com and follow our social media pages below!

• Ridgeline Investment Group on LinkedIn: https://www.linkedin.com/company/ridgelineig/ 
• Agents Building Cashflow on Facebook: https://www.facebook.com/agentsbuildingcashflow
• Subscribe to our YouTube channel: @agentsbuildingcashflow
• Send us an email: rm@ridgelineig.com 

How to Buy a Home In Canada - The Financial Process
Thinking about buying a home? 

Imagine unlocking the door to your dream home -a place where you can create lasting memories, find comfort, and build a future. 

Before you turn that key, there's a financial journey you'll need to embark on, one that involves much more than just saving for a down payment. From understanding mortgage rates to navigating closing costs and tax implications, the financial process of buying a home in Caledon or anywhere in Canada is a roadmap that you'll want to master. Stick around, in today's video, you will be guided through the essential steps, demystifying the complexities and avoiding the  common pitfalls that many home buyers make.

On this episode of "Realty Bytes: Conversations on Real Estate and Lifestyle," your host and experienced realtor, Evelyn Lopes, sits down with Corina Murphy, a seasoned mortgage broker from Premiere Mortgages. Together, they unravel the intricate world of "Buying a Home In Canada - The Financial Process."

In this enlightening discussion, Evelyn and Corina explore the critical financial aspects to consider when embarking on the journey of home buying in Canada. They break down the major financial costs, providing invaluable insights into each element. Here's a sneak peek into the highlights:

• Major Financial Costs: Uncover the essential expenses you need to budget for when buying a home in Canada.
• Factors to Consider: Delve into the multiple financial factors that play a pivotal role in your home purchase decision.
• Down Payments: Understand the importance of down payments and explore options like "Flex Down."
• First-Time Homebuyer Incentives: Learn about incentives designed to make home ownership more accessible for first-time buyers.
• Budget and Affordability: Gain practical advice on setting a budget and assessing your affordability.
• Mortgage Options: Navigate the maze of mortgage options available and find the one that suits your needs.
• Location and Property Types: Discover how location and property type impact your finances and lifestyle.
• Home Inspection: Understand the significance of home inspections in safeguarding your investment.
• Legal and Closing Costs: Get a breakdown of legal and closing costs associated with buying a home.
• Homeownership Expenses: Explore ongoing expenses tied to homeownership and how to manage them.
• Real Estate Agent: Learn how a real estate agent can guide you through the financial aspects of your home purchase.
• Government Regulations and Taxes: Stay informed about government regulations and taxes that affect your real estate transaction.

Join Evelyn Lopes and Corina Murphy on this informative episode as they provide you with the knowledge and insights you need to navigate the financial process of buying a home in the Greater Toronto area- GTA. Whether you're a first-time homebuyer or a seasoned real estate enthusiast, this episode is packed with valuable tips and advice to help you make sound financial decisions in the Canadian real estate market.

For more information you can check out or BLOG at https://www.realtybytes.ca/blog

Contact information:
Corina Murphy | Mortgage Broker | Premiere Mortgages
416-884-1428 
corina@premieremortgage.ca 

Evelyn Lopes | The Evelyn Lopes Realty Team | iPro Realty Brokerage
905-965-5902
evelyn@evelynlopes.com

Data shows that mortgage payments are much higher than paying rent – but does that mean it’s not worth owning a home? What are the implications of not owning? What should you be doing with that ‘spare’ money if you opt to rent instead? 

LISTEN ABOVE

See omnystudio.com/listener for privacy information.

Shane and Tonya discuss assumptions that insurance agents make when selling homeowners insurance, and why that can be a costly mistake. Tonya and her husband are buying a house and going through the process of getting homeowners insurance, so we're talking real time challenges in this hard market. 

Learn more at IAForward.com and follow IA Forward on LinkedIn, Facebook, and Instagram.

Title: *PRE CONSTRUCTION UNITS_ Investing & Financing Tips

Host: Evelyn Lopes, Realtor - The Evelyn Lopes Realty Team, iPro Realty Brokerage

Guest: Kyle Cole, Mortgage Specialist with BMO- Bank of Montreal

NOTES:

Pre-Construction Units - Investing & Financing Tips

Season 1 Episode 8

Introduction

• Are you considering investing in builder pre-construction units but not sure where to start?
• In this podcast episode, we will share valuable insights and tips from a mortgage specialist and discuss important considerations you need to know about investing in pre-construction units.
• We'll cover the potential benefits, the risks involved, and how to mitigate them. Plus, we'll dive into the financing options available so you can make an informed and strategic decision.

Benefits of Investing in Pre-Construction Units

• Flexibility of deposit structures, allowing investors to make payments in installments over time.
• Leveraging the increased value of the property over time can allow investors to potentially build multiple properties and increase their long-term wealth. Find out how this works.

Risks of Investing in Pre-Construction Units

• Challenges with financing and pre-approvals. It's important to work with a trusted lender and do thorough research to avoid potential challenges down the road.
• Uncertainties in the construction process and delays in completion.
• Changes in interest rates and ways to mitigate these challenges

Financing Options for Pre-Construction Units

• BMO offers financing based on the appraised value of the unit at the time of closing versus the purchase price.
• Appraisal process: 
• BMO orders an appraisal once the property is about 97% complete, which is typically two to three weeks before closing.
• Pre-approvals can provide flexibility in terms of making payments in installments, but it can be challenging to obtain a pre-approval letter if the purchaser does not have the full down payment at the time of purchase.
• It's crucial to be financially sound in the investment and consider the potential risks and uncertainties.

Conclusion

• Investing in builder pre-construction units can be a smart and lucrative investment strategy, but it's important to understand the potential benefits, risks, and financing options available.
• Do your research, consult with professionals, and make informed decisions that align with your investment goals and risk tolerance.
• With the right guidance and knowledge, investing in pre-construction units can be a strategic and rewarding investment opportunity.

Contact information:

Kyle Cole | Mortgage Agent with BMO- Bank of Montreal

647-331-8850

kyle.cole@bmo.com

Evelyn Lopes | The Evelyn Lopes Realty Team | iPro Realty Brokerage

905-965-5902

evelyn@evelynlopes.com

 Title: FIRST TIME HOME BUYER FINANCING Tips for Ontario

Host: Evelyn Lopes

Guest: Kyle Cole, Mortgage Specialist with BMO

In this episode of Realty Bites, the host dives into the world of real estate with mortgage specialist Kyle Cole from the Bank of Montreal (BMO). They explore the ways in which first-time home buyers can get into the housing market.

The episode covers a range of topics related to buying a home, including the importance of saving for a down payment, minimum down payment requirements, sources for down payments, qualifying for a mortgage, budgeting for a home purchase, and the difference between pre-approval and pre-qualification. Kyle also shares valuable insights about the programs available to assist first-time buyers, including using RRSPs, rebates, incentives, rental incomes, and more.

Overall, this episode provides a wealth of information for anyone looking to buy their first home, and it highlights the importance of consulting with a mortgage specialist to explore your options and find the best solution for your individual needs.

Contact information:
Kyle Cole | Mortgage Agent with BMO- Bank of Montreal
647-331-8850
kyle.cole@bmo.com

Evelyn Lopes | The Evelyn Lopes Realty Team | iPro Realty Brokerage
905-965-5902
evelyn@evelynlopes.com

In this week’s episode we are going to talk about how long it takes to buy a house in Maine. From the time that you go under contract to closing day is normally 30 days. Now, there are a lot of factors that go into that. What kind of financing do you have? Are you playing cash? Are you doing inspections? All of these questions can add or subtract time to your closing. Time from start to finish depends on many factors. Where do you want to live? What are your wants and needs? Of course the right Real Estate Broker can help all with all of these questions and get you in the right place for you. So let us know, how long did it take you to buy your home, and remember, if you Make Maine Your Home, you don’t have to do it alone!

To checkout listings all over southern Maine visit: https://www.makemaineyourhome.realestate/

Check out our Facebook: www.Facebook.com/MakeMaineYourHome

You can listen to the audio podcast on any podcast app.  Just search for Make Maine Your Home. Be sure to subscribe, like, share and tell your friends.  

To contact Doug you can call or text to 207-838-5593, email to doug@makemaineyourhome.com or check out http://www.MakeMaineYourHome.com.

00:00-00:21 How long does it take to buy a house in Maine

00:22-00:25 Doug puts on his glasses

00:25-01:49 What goes into closing on a house  

01:50-02:54 Start to Finish buying a house  

02:55-03:30 Negotiating and due diligence period  

03:30-03:45 If you Make Maine Your Home you don’t have to do it alone!

In this week’s episode, we are going to talk about each step to buying a home in Maine. If you are buying a new home or if you are a first-time home buyer, this video will walk you through the steps to buying a home. The first step is definitely to speak with a lender and get your financing in order. In this market, you want to make sure you have all of your ducks in a row before looking at properties so you can be ready to make an offer right away! Figure out how much you can afford, and what options you have when buying a house. If all goes well they will provide you with a pre-approval letter that will state you are ready to start your home buying process. Next is the time to narrow down your search. We recommend driving by properties you are interested in and getting a feel for what you truly want. Once you have narrowed down the search then we go look at the properties! Once you find a property you like we are going to make an offer on the property! If that offer is accepted you are officially under contract.  When you are under contract you will take care of the business of buying a house, such as the due diligence period where you can have a home inspection and then negotiate to have any issues fixed. Then you will be clear to close! Closing is pretty simple because everything is done and you are there to sign the paperwork! Then you are officially a homeowner! If you have any questions let us know down below and remember if you Make Maine Your Home, you don’t have to do it alone!

View the blog post on my website...  

https://www.makemaineyourhome.com/each-step-to-buying-a-house-in-maine/

To checkout listings all over southern Maine visit: https://www.makemaineyourhome.realestate/

Check out our Facebook: www.Facebook.com/MakeMaineYourHome

You can listen to the audio podcast on any podcast app.  Just search for Make Maine Your Home. Be sure to subscribe, like, share and tell your friends.  

To contact Doug you can call or text to 207-838-5593, email to doug@makemaineyourhome.com or check out http://www.MakeMaineYourHome.com.

00:00-00:35 Buying a house in Maine  

00:35-00:41 Doug puts on his glasses

00:42-01:49 Financing and Lenders  

01:49-02:05 Pre-Aprroval Letter

02:05-03:03 Narrow down your search

03:03-03:21 Looking at houses  

03:21-04:06 Making an offer on a house

04:06-04:38  Being under contract on a house

04:39-05:27 Clear to close

05:28-06:23 Being a homeowner!  

The Great Deceleration in housing might just be bigger than a seasonal cooldown.

The economic shock of higher mortgage rates means borrowers are getting stretched thin to a degree unseen since 2006. And home shoppers in April and May are finally backing away from record home prices.

On Thursday, Freddie Mac deputy chief economist Len Kiefer tweeted about what this downward shift means: "The U.S. housing market is at the beginning stages of the most significant contraction in activity since 2006."

So today on THC, we’re going to talk about the problem of affordability in many hot markets, from Phoenix, Charlotte to Toronto, Canada and what that impact could be.

Important Links:

• Even Deep-Pocketed Buyers Are Starting to Back Away From the U.S. Housing Market
• The housing market is entering the ‘most significant contraction in activity since 2006,’ says Freddie Mac economist
• Toronto Home Prices Slide for Third Month on Higher Rates
• Mortgage Rates Hit 5.27%, Highest Level Since 2009

Things Have Changed

Samantha moved and Anney is living her best nerd life!

See omnystudio.com/listener for privacy information.

Nearly three-quarters of Americans say owning a home is a higher measure of achievement than having a successful career, raising a family or earning a college degree, according to a new survey.

Record high housing prices and rising mortgage rates are causing the housing market to cool. For the 3rd straight month, sales have decreased at the slowest pace since the earlier months of the pandemic.

Despite the recent cooling, Home prices still rose more than 20% Year-Over-Year, which is the biggest surge in 35 years.. and you know our incomes haven’t risen that much.

What’s even more interesting is that Spring, or the last season, usually sees the majority of home sales on average during the year, typically about 40% of home sales happen in Spring time happen between March and June!

In our last episode, we covered how it’s getting really hard to buy homes, especially for first-time home buyers… Although the market is cooling and we’re seeing some price decreases, the prospect of buying a home is still a distant dream for many of us. There is less housing available for rent and sale than at any time in 30 years, and things are only getting worse. This undersupply is concentrated in the lower end of the market, and as a result homelessness has become one of the big problems in booming cities.

Some Helpful Links:

• Homelessness in New York and the Source
• Squalor Behind the Golden Gate
• Overcoming the Nation’s Daunting Housing Supply Shortage
• Real Estate Affordability
• Trudeau to outlaw Foreign Home Buyers in Canada

Things Have Changed

At the closer end of 2021, inflation started to scare the average person. Prices getting higher was something that not only worries the average consumer, but the Federal Reserve. The exist mainly to control this inflation - and in 2022, they realized they had to do their job.

The Federal Reserve started raising interest rates at a fast pace. If you’ve been listening to THC, you know that this means that borrowing money will get more expensive. Credit cards interest rates would get more expensive, auto loans would have higher interest rates, and mortgages would be harder to afford. That’s exactly what happened.

t’s been long-understood that Owning a Home Is the American Dream. Well for us millennial it’s kind of becoming a distant dream.. Scratch that its actually become a nightmare!

The average home prices in America have been on a tear! Buying a House Has Never Been More Difficult. Since the pandemic Average home prices have increased by 33%! If high prices weren’t enough, mortgage rates which reached record lows at the start of 2021, are now rising at their fastest pace in decades.

So what can first time home buyers do? Today, on Things Have Changed, we’re going to talk about the Housing Market - the different factors that are impacting it and could there be a likelihood of another 2008 Housing Market crash?? Tune in!

Some cool reads:

• Housing in America has become much harder to afford
• Housing Markets Exposed to Interest Rate HIkes
• American Property Market Looking Bubbly
• 4 Ways to Get Ahead in These Times

Things Have Changed

In this week’s episode we are going to talk about calculating a monthly mortgage payment! Figuring out your monthly mortgage payment can be done easily with the help of your lender. Make sure to reach out to them to get the exact figure you will be paying monthly! We also recommend using the Zillow Mortgage calculator, you can plug and play all of your information and get a rough estimate for what you will be paying. If you are purchasing an investment property there are other factors you will need to account for. In this video we will mention some of the important factors when calculating the payment on an investment property as well. At the end of the day REACH OUT TO YOUR LENDER! What app do you use? Let us know in the comments below and remember, if you Make Maine Your Home, you don’t have to do it alone!

View the blog post on my website...  

https://www.makemaineyourhome.com/calculating-a-monthly-mortgage-payment/

To checkout listings all over southern Maine visit: https://www.makemaineyourhome.realestate/

Check out our Facebook: www.Facebook.com/MakeMaineYourHome

You can listen to the audio podcast on any podcast app.  Just search for Make Maine Your Home. Be sure to subscribe, like, share and tell your friends.  

To contact Doug you can call or text to 207-838-5593, email to doug@makemaineyourhome.com or check out http://www.MakeMaineYourHome.com.

As cities come back to life with the influx of people returning from their COVID getaways, the rise of rent prices are hurting us all. Some cities are even seeing 60% rent increases year-over-year.

Just when we thought inflation was going to come under control with the Fed rising rates, we might have been too optimistic. Rent or housing on average is the largest expense an American has on a monthly basis. Even an incremental rise in housing expenses could mean displacement or a serious re-designing of your overall budget.

On Things Have Changed Podcast, we’re going to do a series related to housing - one of your largest financial burdens on a monthly basis. On today’s episode, we’re going to talk about how Rent could displace millions of Americans.

According to rent.com, this is where rents are rising:

2 Bedroom Apartments

• Chandler, AZ (+68.6 percent)
• Miami, FL (+59 percent)
• Portland, OR (+51.8 percent)
• Austin, TX (+50 percent)
• Philadelphia, PA (+47.8 percent)
• Tacoma, WA (+46.6 percent)
• Salt Lake City, UT (+46.5 percent)
• Nashville, TN (+45.4 percent)
• Little Rock, AR (+45.2 percent)
• Jersey City, NJ (+41.2 percent)

These are the Americans cities that have gotten cheaper, according to rent.com:

2 Bedrrom Apartments

• Shreveport, LA (-18.7 percent)
• Wichita, KS (-18 percent)
• Toledo, OH (-16.4 percent)
• Indianapolis, IN (-12.1 percent)
• Scottsdale, AZ (-11.5 percent)
• Anaheim, CA (-10.7 percent)
• Arlington, TX (-10.5 percent)
• Cleveland, OH (-10.5 percent)
• Kansas City, MO (-9.1 percent)
• New Orleans, LA (-8.3 percent)

Some interesting stories:

• Dallas Rent Prices Rise
• Rent Averages in the USA

Things Have Changed

In this week's episode we are going to do something a little different! Get ready to see Doug guess, how much is this property worth? Realtors do value reports and look at comparable sales regularly but will Doug be able to guess the value of properties across the USA? The answer may surprise you! Today we are focusing on properties NOT located in Maine. So play along at home and see if you are better at guessing the value of the property than Doug! And remember, If you Make Maine Your Home, you don’t have to do it alone!

View the blog post on my website...  

 https://www.makemaineyourhome.com/realtor-guesses-…s-property-worth/ ‎

To checkout listings all over southern Maine visit: https://www.makemaineyourhome.realestate/

You can listen to the audio podcast on any podcast app.  Just search for Make Maine Your Home. Be sure to subscribe, like, share and tell your friends.  

To contact Doug you can call or text to 207-838-5593, email to doug@makemaineyourhome.com or check out http://www.MakeMaineYourHome.com.