What rock have you been hiding under Toronto?

##Subject## MLS

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DAVID: RE YOUR WEBSITE AND MLS ACCESS. I'M NOT SURE WHAT ROCK YOU'VE BEEN LIVING UNDER BUT MLS ACCESS TO ALL LISTINGS INCLUDING DETAILED INFO ON PROPERTIES THROUGHOUT CANADA HAS BEEN AVAILABLE TO THE PUBIC FOR SOME TIME NOW.

So... The end is nigh. The flood gates of Internet information are open and there will be no need for anyone. You can be your own plumber, your own dentist, your own seamstress, your own tailor. There are books and sites for everything.

Knowledge is a dangerous curse. Just because we know "IT" we assume that everyone else does also. Hence the phrase common sense.

But searching any address today, on the internet will deliver the previous photo stream of pictures that reference this property. You know, the pictures they took with the garbage cans out front, Ted will deliver the local scenes, and Google earth will provide the 3D perspective and additional pictures. You will also find every private for sale vendor that ever "tried" to sell the house, prior to selecting a Realtor and their pictures online. FSBO sites exchange photo's and listing to cross populate their sites and embellish their success. MLS.ca serves the membership and provides an advertising feature / service to its (Realtor) members.

When you are listing a property, I am requested to collect photo ID, as you are making a financial transaction and in compliance with FINTRAC and PIPEDA we collect and record these details. Given that the average property is $350 to $400 thousand, that seems prudent.

Now, you are at work, you have a chance to surf for a few minutes you are looking at neighbourhoods, schools, amenities, the community itself, sports associations for the kids, neighbourhood watch information for crime stats and safety. The internet will provide all these details for you in a Google search. All of it. The results most times will be; the most recent, sometimes the oldest, occasionally a blatant lie or advertorial or just general propoganda that someone has posted.

The MLS system is much the same way. For the most part listings are accurate but sometime deals that have fallen through, or sold conditionally stay for years, cluttering the information stream with what is vital and timely information. You as the Seller, (Vendor) of the home have the choice of complete control to decide about internet denial, no posting online at all, the restriction of your address or a complete and full posting.

What do I have? I have the Key. I have the experience translator module that you lack. I have looked at these houses while they were for sale and when they sold. I have the sold information and the days on market that reflect those values. You and I, together will examine what has recently sold (IE the last 90 days not in the last 4 years) so that you have the comfort to go forward with confidence that you are making a sound financial decision. Your bank will verify your conclusions in their appraisal; Your Lawyer will check and enforce the details of your real estate contract. You home inspector will help you understand future maintenance issues and concerns. We are all here to answer your questions.

When you call a plumber, you hired a tradesman who has the tools and experience to solve your situation. By making observations about your circumstance and predicament, [he] can recommend an instant and painless solution. You always have the option of Buying a Book online, installing a How to Program and Trying yourself, Buying the correct tools and knowing how to use them. My tool box is available to you at anytime. I have a financial services background and 22 years or residential resale experience.

Many real estate agents in Toronto are running mashup's of the MLS.ca site integrated with Google Mapping. Great application, But, they are permitted only to advertise those brokers that permit or share data, display those listings that are released to MLS.ca and those may be sold or sold conditionally. It you want a true Market Tracker, You need to sign up here. On a daily basis I see claims about the newest best, most recent, instant riches programs. You too? I am confidant as the internet grows there will be a continuing and dramatic increase in the number of interpreters and translators needed for real estate information in Toronto.

What rock have I been hiding under? Sorry, I was reading pages on the internet. I will be here when you want sold data or factual explanations of a real estate transaction in the GTA Toronto.

What are your thoughts?

Going into the fall, Living in Toronto

As we enjoy the last few weeks of summer weather, the kids are gathering their effects and looking at going back to school. Thoughts have returned to the Toronto Real Estate Market and the lack of suitably priced homes.

The listing you have looked at on line and at Open Houses really appear tired and over priced; yet when something tasty comes along it seems that buyers are lined up and multiple offers ensue.

You, yourself will need professional marketing, presentation, correct pricing and transaction management from a full service group of realtors, like my team.

Google is your friend on Prezi

If we are truly are the internet generation that is embracing technology, there should be more presentations like this to market your home, reach more prospective Buyers and promote your listing. If you are not receiving this type of marketing you need to ask why not?

The fall market is expected to be brisk as we all speculate on future values. There will be deals out there. Give me a call at 647 218 2414

The Fixed Rate vs Variable Rate Conundrum

At Astrum we have noticed an increase in the number of questions being asked about the future direction of interest rates. Clients want to know how to decipher the relevant information in order to understand their choices and what risks are associated with a variable rate mortgage compared to a fixed rate mortgage. This article looks at how short term interest rates impact variable rate mortgages and, at the other end of the scale, how long term interest rates impact fixed rate mortgages.

With the move in the bank’s prime interest rate upward for 2 months in a row, mortgage consumers are looking at whether they should choose a fixed rate mortgage or a variable rate mortgage.

Fixed rates, which are tied to the interest rate paid on the Government of Canada 5 year bond, have softened resulting in some minor downward changes in 5 year term fixed interest rates for closed mortgages. In fact, we are seeing small declines in the 5 year fixed interest rates with current offerings at 3.79% for both purchases and re-financing. A couple of months ago we had only one lender at 3.79% with the majority above 4%.

Variable interest rates are directly tied to the bank’s prime interest rate, currently at 2.75%. The one consistent prediction by both economists and forecasters is the bank’s prime interest rate is rising and, in the long term, will continue to do so. Bank of Montreal is forecasting an additional 0.25% increase before the end of 2010, plus another 1.5% increase for 2011 taking the bank’s prime interest rate to 4.5%. The Bank of Montreal then forecasts the rise in interest rates to continue with the bank’s prime interest rate reaching 6% in 2015. Therefore using Astrum’s prime minus 0.9% 3 year variable interest rate mortgage as an example, the borrowing cost would be 5.1% in 2015.

What does this mean to a borrower? Well, today you can obtain a 3 year term variable interest rate closed mortgage at prime minus 0.9% or 1.85%. For example, using a $250,000 mortgage with a 25 year amortization period the monthly payments equal $1,040.62. In 2015 assuming the same mortgage is available, with a forecasted bank prime interest rate of 6.0% minus 0.9% equaling 5.1%, the monthly payments are $1,468.28. This is an increase of $427.66 per month or an increase of 41% in the monthly payment.

You might ask, won’t the 5 year term fixed interest rate move up as well? Yes, the 5 year term interest rate will move up, but not by the same incremental amount as the bank’s prime interest rate. In July of this year, the major Canadian banks issued independent forecasts which showed an average increase in the Bank of Canada overnight rate to 2.57% which correlates to the bank’s prime interest rate increasing from today’s current rate of 2.75% to the 4.5% - 4.75% range by the end of 2011. During the same time period, the same banks forecast the interest paid on the 5 year Government of Canada bond to rise 1.06% to 3.59% which equates to a 5 year term mortgage rate of 4.75% - 5.00% compared to a 5 year term fixed mortgage rate of 3.79% - 4.09% today. The key point here is the bank’s prime interest rate is forecast to increase nearly 2% by the end of 2011 while, during the same time frame the 5 year term mortgage rate is forecast to increase 1.25%. If you accept the general concept put forward by this forecast, the interest rate difference between the variable rate mortgage and the fixed rate mortgage is becoming less and less.

As stated by some economists and financial analysts, the variable rate mortgage is an excellent product during a declining interest rate cycle, but during an increasing interest rate cycle the fixed mortgage interest rate may offer some advantageous benefits. At Astrum we have the expertise and resources to respond to your questions which will assist you make the decision that will allow you to sleep at night.

David Pylyp You can click here for the lowest rates I have seen recently from a virtual lender. The clients that purchase or sell with me ( available to the Purchaser's of my listings) has a huge competitive difference if you are buying a property and can save an additional $500 per month on interest costs alone.

This is limited to my clients only. Would you like to become my client? Give me call at 647 218 2414 or email David@davidpylyp.com