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Our Process |
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Dear ,
Wow, has this ever been a busy couple of weeks for Lisa and I. In addition to doing all of my regular work, Lisa and I decided to sell our house. It was a whirlwind process. We sold it in less than a week and completed all the paperwork on Monday. I wrote a short article about it, because in addition to selling the house FAST, we got multiple offers!
I have developed a great strategy for all my clients who are interested in refinancing and locking in the low interest rates. These rates WILL NOT be around forever, so it is worth taking the time to see if you can benefit. If you are interested in putting $10,000+ in your pocket, check out the refinancing article below.
As always, we are only a phone call away, so be sure to contact us if we have left any of your questions unanswered, or if we can help you in any way.
Sincerely,
Mike Averbach and Justin Blacklock
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Sold My House in a Week!
My big news is that I Sold my house in less than a week, with multiple offers!
With all the gloom and doom
reporting that we see on the news, the fact that people continue to buy and
sell seems to have escaped the media attention!
Last week Lisa and I sold our
house. We put it up for sale, and ended up accepting one of several offers to
buy. From our decision to sell to the removal of all "subject to's" the process
took less than 9 days.
When we tell people this, they are totally surprised.
Were we surprised? Well, a little. We
thought maybe it would take two weeks! The fact is Averbach Mortgages has
been setting up mortgages for our clients on an almost daily basis in spite of
the economy so we knew the house would sell.
When I asked why the house was able to sell so
quickly, our agent, Simon Clayton said "The market in Vancouver
is hot. Real Estate markets are localized and while the world's economy does
affect prices we are still living in the best city in Canada
and have limited land to build on. We saw a drop in prices and sales in the
last 6 months of 2008 which have now rebounded to record levels. Mike's house
was top quality and one of the best houses I have ever seen built on a 33' lot
in Vancouver! Quality always will
retain its value and buyers who saw the house understood what made it stand
out from other newly constructed homes."
While I had Simon on the spot, I asked him, "What can my
clients do to sell their home faster?" Simon said, "Price the home correctly.
Understand what is happening in the local market. And understand why your
competition sold at one price while your home might be worth a different price.
Help your agent by listening to tips and tricks on how to increase how many
people will want your home. It isn't a bad idea to spend some money fixing up
some parts of your house. You will see a return either financially or the
benefits on your home selling quickly. Hire a good agent who knows the market
and has proven success. Don't rely on thinking the house will sell itself.
You need to have a marketing plan and an agent who knows how to handle the
process."
In all, we received 2 offers after 1 open house. Simon
listed our house on MLS; advertised in the Vancouver
Sun; advertised on his website; had a professional video and photos done, as well
as a full colour brochure for each buyer. The house effectively sold in 1 week.
Why did we sell? Ask Lisa!
Contact us NOW to find out about obtaining the BEST mortgage at today's lower rates.
Mike Averbach 604-710-2550
Justin Blacklock 604-736-1855
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June Market Update
Here's a market update from
our friends at Macdonald Realty; Simon Clayton, Kristie Marsden, Jason
Low, Sandra Ens, Jason Feinstadt and Jenny Stephanson.
Welcome to the Macdonald Realty Market Update
Each month, we provide you with valuable information to help you in
your decisions related to real estate. It is my intention that armed
with this knowledge, you will be able to make a more informed choice of
whether to buy, sell, or hold.
Pricing it Right
Summer is
underway and the housing market is showing surprising strength
following a chilly Winter. For those of you thinking about selling, it
is important to realize how vital the Art of Pricing is to the sale of
your home.
All sellers want the
highest price possible for their homes, but the strategies to get there
are not always intuitive. In certain circumstances, pricing low can be
more effective than pricing high, while in others, pricing above market
value can be a winning strategy. In most cases, however, the optimum
pricing strategy is to price within 10% of market value and let the
market decide. After all, the 'list price' comes with a caveat: Or Best
Offer.
Top Reasons for NOT Pricing High:
- You lose out on potential buyers who put a price cap on their property searches.
- Serious buyers question the motivation of a seller with an overpriced listing.
- You
provide a strong comparable for your neighbors who are properly
priced. You are effectively selling other peoples' well-priced homes.
- Buyers assume that properties which remain on the market for long periods of time have something inherently wrong with them.
- Other agents will be more hesitant to show your home.
Many
factors come into play when it comes to pricing your home and a
professional can help you through that process. To find out more,
please feel free to contact me at the address above.
Average Home Prices:See the Average House Price comparison chart for Greater Vancouver, Victoria, Kelowna and Edmonton. Visit our BLOG for more information and advice on dealing with Vancouver's current housing marketplace. And for links to our friends at MacDonald Realty.
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Refinancing in the Perfect Storm!
A Refinancing Strategy for today's volatile market
With the historic-low interest rates now available, many people are interested in refinancing to save money. The problem is (with most mortgages)
the penalties are too high to make this a financially
viable move.
In order for refinancing to make sense, you should end up
with money in your pocket. The overall
savings generated by a lower cost mortgage should be more than the refinancing
penalties incurred.
As long as mortgage rates stay the same or get lower, it is highly unlikely that you will see any
benefit to refinancing because of the high penalties ...
although there is a further benefit of having a fresh 5 year term as we cannot
know what the rates will be when your current term comes up. One thing we are
sure of is that rates will be HIGHER.
As mortgage rates go UP, the refinancing penalties go down.
IF you take action now you could benefit greatly when
mortgage rates start to go up again. Currently,
some lenders still have their 5 year fixed rates in the 3.79 - 3.89 range (see our rates page). These rates have never before been offered and may never again...in
our lifetime.
What we do is get you the BEST rate we can and lock in the
offer. Depending on the mortgage company we can lock in for 3 to 4 months and can often renew for another 3 to 4 months at a time. Then we
wait. At some point the mortgage rates are going to go up again.
At the point where you are actually saving enough money to
make the transaction worthwhile, we finalize
your refinanced mortgage.
IN A NUTSHELL:
1. You lock in a rate-hold today via a pre-approval application while the interest is low.
2. You wait till the mortgage rates start to increase.
3. When the mortgage rates go UP, your penalty for
refinancing goes DOWN.
4. When the transaction generates a positive cash savings
for you ... we refinance at the lower rate, with the lower penalty.
What do you need to do? Call us. We'll let you know if this strategy makes sense for YOU!
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Averbach Mortgages
604-710-2550
We save you time. We save you money. We get you the you the best mortgage terms at the best interest rates possible.
If you are:
- purchasing your first home
- refinancing
- renewing an existing mortgage
- investing in real estate
- consolidating your debts
- experiencing current or past credit issues
We have the solutions that work for you.
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Mike Averbach
Averbach Mortgages |
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