How to make sure that your agent is marketing your home properly

If you have decided to sell your property, it is highly essential that you select a real estate agent who can market your property well and get you the best deal. It does not matter whether you are selling in a buyer’s market or a seller’s market or a balanced market – however, the agent you choose makes all the difference. Not all agents provide the same level of service. Most of the times, these listing agents only get paid once the property is actually sold. This means that most of the marketing expenses come straight out of their pockets. This in turn leads to some compromises in order to save money. Well, when you engage a realtor to list and sell your property, you need to ensure that they market your property professionally and effectively so that you get the best possible deal.

Here are a few things you can expect a professional realtor to do in order to market your property:

Picture

When you list a property for sale, make sure that your agent has a few good photographs of the place. Avoid dark, grainy photos clicked from a cell phone. Take the effort to rotate a photo and then save it so that viewers to not have to tilt in order to see it. Hire a professional photographer if need be. These professionals have the right equipment and can click a perfect picture with proper lighting. They can help showcase the most promising features of your property and ensure that potential buyers get a good ‘feel’ for your property by looking at the pictures.

Floor plan

A good agent will have your home professionally measured and will create a floor plan so as to market your property well. Whether you are selling a one bedroom condo or a five bedroom home, a clear floor plan along with the listing helps the agent market your house and strike a good deal. Today, there are various means to display floor plans to potential buyers. A 3D floor plan can have a greater influence on the buyer’s mind. Videos of the house and its surroundings help showcase it appropriately.

Professional description

A professional photograph of your property must also be accompanied by a professional description of the place. The description must be informative and must portray the property appropriately. Make sure that you highlight the most appealing features of the property and its neighborhood. It should also include all the basic information that a buyer would want to know before considering it for purchase. If you are providing numerical information, make sure that it is precise and accurate.

Knowledge about your home and the neighborhood

Make sure that your real estate agent can answer all the questions that your potential buyers would have about your house. This is not only for the property, but also the neighborhood. Potential buyers want to know about the schools, markets, conveyance and local amenities of the neighborhood.

Make sure that you select the right realtor for selling your property and get the best deal!

Buying a Home in Vancouver. Naz’s speciality includes homes for sale in the West Vancouver, Yaletown, and Downtown Vancouver.

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It’s good news for investors in Metro Vancouver

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Selling in West Vancouver, Selling Property in Vancouver

With historically low mortgage rates, fairly easy financing and price increases that have averaged more than 25 per cent annually and high demands for rentals, Metro Vancouver condominium investors have had it good for the past two years. But times have changed and investors need to operate in a much more risky market and discipline has become even more essential.

What exactly has changed?

It all started when the provincial government virtually banned the assignment sales on the resale housing. The condo sales instantly saw a 20 per cent drop from the previous month in Vancouver. In August, the 15 percent foreign buyer tax was introduced and in October, there were restrictions on the buyers purchasing with mortgage insurance (this included many first time buyers). Another essential factor that changed was the condominium sales across Metro Vancouver that were down from 30 per cent to 45 per cent. Yet, for investors with the financial capacity, this change is good and almost the type of market they have been waiting for! For example, there are more listings on the market, multiple bids on choice properties are rare and vendors are more open to negotiations. While it’s not exactly a buyer’s market, there a numerous advantages for the buyers to leverage from!

Where must you invest?

So, where must investors purchase and what exactly are the opportunities in Metro Vancouver? Investors must look for condominium markets that have remained robust and that have a strong potential for rentals and appreciation over a period of time. This market saw robust sales earlier this year and will probably take some time to return to that state. This in fact is god for buyers who are looking for purchasing without the need for insurance. The most promising areas to be buying are Burnaby and New Westminster. These two zones have emerged as promising markets for purchasing real estate. Also, this year, there has been a steep rise in the number of condos that have started in Burnaby than in any other municipality. Moreover, the opening of the sky train extension this year has benefited Burnaby and New Westminster markets by enabling rapid transits. Prices are low and the number of buyers for condominiums has increased recently.

Advice

In this changing environment, there are a lot of opportunities for home buyers and real estate investors. It is however essential that you have the right kind of guidance to select your target, negotiate the price and ensure that you have a fair down payment while you purchase. Well, get all your facts and figures in place and ensure that you invest in the right kind of real estate at the right time. Hiring a professional realtor could help you strike the right deal at the right time!

The time is definitely good NOW – to invest in Metro Vancouver even though the lending rules have tightened and making sensible purchases in the condominium markets is a no brainer investment play!

Naz Allahyari, is a full-time Vancouver Real Estate Agent specializes in Selling Property in West Vancouver, Coal Harbour, and Downtown Vancouver.

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The Amazing North Vancouver – Reasons to Call It Home

North Vancouver which is commonly known as “North Van” makes up a large part of the North Shore along with West Vancouver. It includes two district municipalities – the City of North Vancouver and the District of North Vancouver.

There is a distinct difference between the two. The City of North Vancouver is relatively densely populated and has plenty of condo homes. The district of North Vancouver has a number of wild open spaces andsome of the best places for outdoor recreation in the Lower Mainland. It extends into the North Shore and is said to have the region’s happiest residents.

If that’s not reason enough, here are five distinct reasons why North Vancouver is a great place to live in:

The Scenic Mountain-scape

The proximity of the Grouse Grind and Seymour mountains makes this place perfect for those who simple love to get out into the nature. It’s tough beating the welcoming mountains in the summers – who needs a gym membership then? Well in the winters you can hit the snow clad slopes and have a great time.

Easy access to Downtown Vancouver

This place has a very easy access to the downtown Vancouver. Sometimes the bridges are a challenge during the peak hours of commute. But there is a great connectivity by the SeaBus to the Waterfront station. The frequency is good too. It has a bus going there every 15 minutes during the day time and every 30 minutes during the evenings. Well traveling by boat is interesting too – especially when it’s just a 12 minutes ride.

Picturesque Waterfront

The good news is that many of the condos in the City of North Vancouver are clustered on the hill that leads downtown to the Burrard Inlet. It offers commuters with a spectacular view of the water and the City of Vancouver. This essentially means that you can enjoy the stunning beauty of the water even if your home does not have a water front view. A number of community activities are also a part of this city such as Shipyards Night Market and the Summer Sessions Concert Series.

A city of Villages

North Vancouver is a huge city (or area) with a small town feel to it. Most of the residents enjoy this dual effect. It is a hub for local shops and the restaurants are bustling with crowd of people enjoying the together time with families. North Van also has an extensive public art program and a festival for every season.

Community spirit

North Vancouver is truly a place where families move for a feeling of ‘belonging’. As mentioned earlier, it us a big city with a small town effect and provides residents with exactly what they need to call it ‘home’.

This city has world class recreations and a series of thriving communities that make it the most desired place for those looking for investing in real estate and who plan to settle in a permanent ‘home’ for life!

Find North Shore Realtor in BC. Naz Allahyari is a Vancouver real estate agent specializes in real estate in North Vancouver.

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The New Stress Test For Insured Mortgages – What Was Announced And How Will It Impact The Real Estate Market

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Selling in West Vancouver, Selling Property in Vancouver

As per the announcement made on October 3, 2016, by the federal finance minister, all Canadians applying for a mortgage that requires CMHC insurance will be required to qualify under higher interest rates. This is essentially termed as the stress test and includes tougher mortgage rules that are essentially a part of a broader set of ‘preventive measures’ that are aimed at ensuring the long term stability of the real estate market. This new rule may also help reducing the risks involved.

What exactly is announced?

Currently, the stress test applies to some insured, variable-rate mortgages and insured mortgages with terms of less than five years. But from 17th October 2016, these rules will also apply to all new applicants for insured mortgages. This essentially means that even if an applicant is eligible for a discounted mortgage rate of 2.79 per cent, they will need to qualify as if they would have to pay the Bank a rate of 4.64 per cent which is currently the full posted rate.

What about those who have an existing insured mortgage?

It’s good news for home owners with an existing insured mortgage or for those renewing an existing insured mortgage. They will not be affected by this new rule. Applicants for uninsured mortgages are also not affected.

What else will change?

These announcements were made with an attempt to level the play field for the eligibility criteria for mortgages which is currently less stringent, especially when applied to applicants with less than 20 per cent or more down payment – generally considered as a low load to value ratio mortgage.

Another important step that impacts the real estate market directly is the closing of a tax loophole for foreign real estate speculators to prevent foreign buyers from purchasing a property and selling it again within a given year and in turn failing to pay capital gains tax on that sale. Under the new rules, all tax payers will be required to declare income tax returns for the sale of a property which they claim as their primary residence. In order to quality, they must have lived in the given home at some time during the year. This change will ensure that the principle residence exemption is used only by Canadians and they will be required to declare one property as their principle residence for the same.

The last point that was a part of the October 3rd announcement was about the appropriate sharing of the mortgage risks in case of mortgage defaults.

Morneau however said that the housing market is pretty stable already, but the changes and new rules will ensure the long term stability of the market. It will also provide some amount of risk – protection as Canadians invest in the real estate market. And finally, it will ensure that the risk is appropriately shared between the government, the financial market and the Canadians.

There are speculations that this new rule will be both good in some ways and might take some people out of the real estate market too especially with the ever increasing prices in the real estate market. The actual results are yet to be seen, observed and analyzed!

Naz Allahyari, is a full-time Vancouver Real Estate Agent specializes in Selling Property in Vancouver, Coal Harbour, and Downtown Vancouver.

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Self – Employed? Here’s how you can qualify for a mortgage

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condos for sale in the Vancouver, homes for sale in the Vancouver

As a small business owner, or for someone who is self employed, getting home financing could be quite a daunting task even though your net worth most likely is higher than the average.

Canada has over a 2 million people who are self employed and a little over a million who own small businesses. Getting a mortgage could be challenging and hence it is important to understand all the rules and terms of obtaining a mortgage.

So, before you approach banks or any other financial institutes for a mortgage, you must consider the following points if you are a small business owner in Canada.

The rules for lending have changed recently. In February this year some of the major changes were announced that apply for everybody. The very first change was that home buyers are now required to set a 10 percent down payment if the price of the home is above $500000. It might seem like quite a lot to put down at one time, but it’s important to note that in Vancouver and Toronto, this kind of price for a down payment has been very common.

The key is to not overextend yourself because, other than the down payment for the real estate, you will also require some money to reinvest in your business. It is hence essential to analyze your stated income or grossing income in order to qualify for a mortgage.

Traditionally, the self employed could lower their taxes simply by increasing the stated expenses. In stated income mortgages, the borrower needs to make sure that they have all the following documents in place to increase their chances of getting an approval.

• Financial statements for the past two years prepared by a professional accountant.
• Business license documentation.
• Personal T1 general tax returns prepared by an accountant.
• The most recent Notice of Assessment and proof that taxes have been paid till date.
• Bank statements that show your current cash flow.
• Bank statements that show regular income.

The key is to not owe any taxes. This is probably the very first thing to check. If you do owe any taxes, pay them off immediately.

Money lenders and monocline lenders represent a much stronger option for small businesses. Depending on your credit and the way your business is registered, for example, sole proprietor or incorporated, some of these lenders can add some extra percentage to the mortgage too.

These lenders almost always look at the average salary of someone with similar experience and then decide the amount for mortgage. These lenders are a great to check out when traditional sources do not work out for small businesses. Even though the rates of interests via these means may be higher, it also means quite a bit of tax savings too. The bottom line is that although the income-qualified get the best rates, the self employed get a pretty deal too!

Naz’s speciality includes homes for sale in the Vancouver Westside, Burnaby, North Vancouver, West Vancouver, and as well as condos in Downtown Vancouver.

Investing in Condo Hotels and Mixed Apartment hotels? Think it through!

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condos for sale, Vancouver real estate agent

Discussions and debates over whether condo hotels and mixed apartment hotels are a good investment have reignited over the past few years. The idea is that, an operating hotel with staff, concierge and all the other amenities also have condo units that they sell to private buyers. The main advantage of such an arrangement is that if the property has been purchased from the hotel’s pool of units, the hotel manages and rents out the property.

Having someone else manage and maintain your condo is a great option. Here are some of the benefits of a condo-hotel suite or simply a condo in a combined hotel and residential strata building:

The advantages
The benefits of buying such a hotel unit are pretty obvious. They have great amenities and attractive deals to attract guests. Housekeeping services are awesome. Apart from the general maintenance that makes these places look classic, they have all the luxuries that you could wish for such as fitness centers, world class spas, pool, valet parking, concierge and not to forget the fine dining. The hotels have a policy to let the owners use the unit for some amount of time in a year and the remaining time they rotate and rent it out.

Things could get tricky
There are however, certain circumstances under which such an arrangement could get tricky. The hotel does help you rent out your property, but be aware that the revenues are shared too! The general share is 50:50. You will also be charged a monthly maintenance fee.

On the other hand, you can leverage from the hotel’s management expertise, reputation, advertising and affiliates. It’s an ideal situation to be in. This also has another side to it – your shared profits would also mean less ROI as the owner.

Some other factors to consider
Some of the other factors that affect your earnings from such an investment are that the rents are often lower than anticipated and are not steady due to certain other vulnerabilities such as bad weather, bad publicity, and market trends etc. that negatively impact and curtail tourism.

Understand that, if your strata unit is separate from the hotel, you can either live in it yourself or rent it out. You cannot however completely rely on the rental income. Rent from such properties is also rarely considered for mortgage eligibilities. This is mainly because, as mentioned earlier, they are influenced by a lot of external factors and are not steady all year round. Some financial institutions however can use this information to help you qualify for short term funds. However, rates and fees are quite different in this case.

Above all, if you are considering an investment of this type, it has its own advantages and disadvantages. While you enjoy the feeling of owning a classic luxurious property managed by a reputed hotel, you also must understand that this is ‘business’ and the hotel will definitely keep its share of the income. There will be maintenance fees and other charges too!

So think it through before you invest in this type of real estate!

Naz Allahyari, is a full-time Vancouver Real Estate Agent specializes in homes for sale in the North Vancouver, Yaletown, West Vancouver, Coal Harbour, and Downtown Vancouver.

Sechelt offers residents with a peaceful living and highly affordable property prices

Sechelt is a small town in the Sunshine coast with small population of 9291. One third of this population is over 60 and mainly consists of retirees. Recently this small town has seen remarkable changes and more and younger families and couples are looking for moving to this town for affordable prices. It’s turning into a great place for locals who are thinking about embracing coastal life.

This small town not only has a strong sense of community, but also offers great property prices. Along with the sea side location, there are a number of awesome things about living in Sechelt. It is no longer a town that is restricted to an older demographic, but has become a very inviting locality for people of all ages.

Here are a few great things about Sechelt:

The coastal lifestyle

If you wish to avoid the daily hustle and bustle of the city life, Sechelt has become an ideal place to embrace a laidback carefree life. The ‘coasties’ as they are known, enjoy a free range living where the young can craft their own jobs and kids can roam free. Self employment and entrepreneurship are flourishing and those who are after creative pursuits in business can take advantage of the affordable real estate in this town.

Space to breathe

In this town, you will rarely find apartments or condo buildings that are taller than five storeys. Almost eighty percent of the residents are single family homes. This essentially means that these homes come with more land around the house so that they look spacious and comfortable to live in. They are not crammed close together and the kids have enough room to play.

Outdoor paradise

With the ocean coast to the south and the water inlet to the north, residents who love water facing homes get a feeling of living in paradise. The Porpoise Bay Provincial Park has a wide range of activities to offer from diving off Pier 17 at Davis Bay to Kayaking Tuwanek to hiking at Smuggler Cove, for outdoor enthusiasts. If you are the more adventurous kinds, Sechelt has world class scuba diving all year round.

Vibrant arts community

Sechelt is an artist’s paradise. It has a passionate community of artists and the Annual Sunshine Coast Art Crawl is the perfect platform for artists to showcase their work. It also hosts the Sechelt Arts Festival, a 10 day event that showcases talent in local dance, music, theatre and visual arts. It also has a literary festival that brings together literary talent across the country. Readings and musical performances are a also encouraged by a number of events hosted in this town. Artisans and farmers can sell their creations in the weekly market – the largest outdoor market on the Sunshine Coast.

Food scene

The coasties have plenty of options for dining out. Especially notable joints are those that serve sea food. Restaurants have a stunning view of the ocean and the view of floatplanes and seals of the Sechelt Inlet.

Overall, this charming sunshine coast offers residents with a peaceful living and property prices far below the other nearby cities!

Vancouver Realtor & Real Estate Specialist. Every type of property from New Condos, Townhomes and Houses Contact Naz Allahyari: 604-913-9000, For more Information, Visit at www.nazproperties.com

Metro Vancouver Condominium Market Update For Investors

For investors, the easiest route to richness has always been the Metro Vancouver’s condominium market – at least for the past five years. It is also estimated that the next few months will definitely be game changers and will essentially separate out the posers from the real players!
With the rise in the political interference, the real estate scenario will definitely see an impact and the smart and well financed will be the least affected by these minor turbulences.

Here’s what’s making news in the condo market that is making it increasingly difficult to make a decent buck from these investments:

• A hefty new tax for foreign buyers
• Restrictions on speculations
• Tougher mortgage regulations
• Speculation of higher interest rates this fall
• Subsidized rental competition
• Daunting entry prices

Here are some of the Metro Vancouver communities with better opportunities for investors in resale condominium apartments based on transit, liveability, price range, price appreciation, foreign investment etc.

Hastings – East Vancouver

Hastings benefits from a strong rental demand and is an ideal location of those looking for investments. Great water and mountain views and a cool factor of the modern condos are the most appealing factors that impact decisions in this locality. The benchmark condo prices in this area have soured almost 25% from last year and are reason enough for a good investment.

Grandview – East Vancouver

There are a number of aspects that are attracting new investors to this area. Especially the Sky Train links at VCC Park, the Commercial Broadway, the Vancouver Community college and the long term demand for rentals from the upcoming Emily Carr Campus are major factors that attract investors. The new St. Paul’s Hospital is another major factor affecting investor decisions. The new Broadway is expected to increase transit and convenience for those VCC – Clark. The benchmark prices are 31% up since mid 2015.

Marpole – Vancouver

In Marpole, the benchmark prices are up by 16 percent since last year. It has two Canada Line Stations and one more coming up. It has the lowest entry price on Vancouver’s West side and there are plenty of foreign buyers eager to make an investment in this area.

Uptown New Westminster

Uptown New Westminster is up trending with excellent Sky Train bus links, great shopping and a steady rental demand. The benchmark prices are up by 19% since the past one year and have not changed since the past three months.

Steveston – Richmond

The major factors affecting real estate investments in this area are the historic beach and the park area. It is a trendy place with a strong foreign buyer influence. The Canada Lines links and the future potential of the Fraser River Bridge are a good attraction for long term investors. The benchmark prices are up at least 20% since mid 2015.

These were the overall areas of investor interesting in Greater Vancouver for the condominium market. If you are looking for advice from a real estate expert, contact us now! www.nazproperties.com

Exploring The Real And Hidden Costs Involved While Moving A House

You have been ecstatic with excitement ever since you found your dream home! It’s time to move. But before you move, make sure that you have everything covered. The home itself would have been a pricy deal, and if you are planning to move soon, there are plenty of costs that are incurred on the moving day too. Ensuring that you account for all the costs – both real and hidden, can eliminate any surprises on the way.

Here is a list of all the costs that you may incur on moving day including those that you might have overlooked!

REAL

Movers or a Moving Van

The very first thing you need to consider is whether you are going to hire movers or rent a moving van and just move everything yourself. If you are planning to hire a business to help you move, there are a lot of extra costs that will be added. The distance of your new home from your current location is the main contributor. Among the other costs is insurance which many people overlook. Insurance could be important if you are moving valuable things. Minor costs include tipping the movers, buying snacks for them etc. A good tip and a few snacks can ensure that they take extra care of your stuff. Well, if you are moving yourself, the cost of the van will not be the only cost. You might require insurance in this case too. You can consider directly shipping some items to your new home – that will cost extra.

Packing supplies

Minor expenses also include boxes; bubble wrap, tape and other supplies that you might need to efficiently pack on your moving day.

Cleaning costs

Whether you are living in a rented place or you have just sold out your home, a final cleaning and scrub down will be necessary. If you hire services for cleaning it will add to your moving day costs.

HIDDEN

Travel Costs

Depending on the distance between your old home and your new home, you may incur extra cost for moving. If the new home is not livable until you completely move, there might be hotel charges and food costs that add to the total moving day costs.

Utilities and bills transfer fees

Hydro, utilities and phone services – all charge a fee that varies from region to region when you change addresses. Cable and internet will require cancellation. These providers generally charge a cancellation fee. If you wish to move these services to your new home, you will be charged extra.

Moving heavy or special items

Pianos, pool tables, hot tubs etc. could cost you extra. These items are heavy and at the same time need to be handled with care. It is always a good idea to inquire the charges for moving such items well in advance so that you are prepared for your moving day!

Make sure that you understand all the costs associated with moving and eliminate all surprises on moving day!

Naz Allahyari, is a full-time Vancouver Realtor® for North Vancouver, Yaletown, West Vancouver, Coal Harbour, and Downtown Vancouver.

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BC Government announces that the real estate industry will now be governed by new superintendant

The real estate industry will see dramatic changes as its self regulation will be completely scrapped and a new BC superintendant will be appointed. Premier Christy Clark announced that the real estate council will be overhauled and will now be governed by a new superintendant. This announcement was in response to recommendations by the Independent Advisory Group (IAG) that was especially appointed to look into matters of misconduct in the real estate industry. The announcement was made o 29th June 2016.

Clark’s changes go a few steps further than strong recommendations that were set out by the Independent Advisory Group (IAG), which suggested that there be a substantial increase in the fine for misconduct.

In addition to this, a new superintendent of real estate will be appointed and will be responsible for the council’s regulation and rule making authority.

The IAG report observed and examined shady practices that were plaguing the real estate industry and this posed a great challenge for the real estate market particularly in the Lower Mainland. This had a negative impact on the industry as a whole and put consumers at a risk. As a result of these shady practices, the reputations of honest agents were tarnished too. Clark also expressed that protecting the interests of the people of BC while they make the most important decision of their lives such as buying a home is their duty.

Here are some of the highlights of the recommendations of the IAG:

The BC government fully accepts the recommendations and will

• Appoint a dedicated superintendant for real estate who will take care of the regulation and rule making. He will also carry out all the recommendations of the IAG.
• Reconstitute the Real Estate Council with majority non-industry members.
• Implement the recommended penalties
• Implement increased fine for unlicensed activities and other offences.
• Licensees who engage in misconduct will be taken back to council.
• Make the managing broker responsible for ensuring that the brokerage owner does not engage in the business unless he is appropriately licensed to do so.
• Ensure that licensees are not permitted dual agency representation

This process will begin in the forthcoming weeks as per the announcement from Clark in the media conference on 29th June 2016.

This is the government’s first step towards assessing and ensuring that transparency and customer protection in the real estate industry is given topmost priority. In the near future, the powers of the superintendent will expand and he will be able to address all the real estate issues and ensure public representation on the board. He will also be able to implement higher disciplinary and administrative penalties for any kind of misconduct in the real estate market.

Protecting the interests of a customer is the highest priority of any realtor in the province. The real estate agents are happy to see strong regulations against those following shady practices. Realtors in BC believe that their lively hood depends on their reputations and these regulations will definitely benefit an honest realtor!

Buying a Home in Vancouver. Naz Allahyari is a Vancouver real estate agent and top Realtor® in Vancouver.

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