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EXIT Realty Metro is looking forward to another great year on the greens at the NSAR’s Annual Golf Tournament. Each year, the tournament supports a different local charity. This year we are honored to be participating in this event in support of the Arnold G. Jones Bursary Fund. The awards are intended for children or grandchildren of REALTOR® members in the NSAR (Nova Scotia Association of REALTORS®) who have demonstrated a commitment to learning, a high standard of involvement in school and/or the community, maturity and responsibility, initiative and/or strength of character, and have decided to continue their higher education.
EXIT Realty Metro will be well represented at the Links at Penn Hills on June 27th – we have many teams already registered and we are also sponsoring the Putt Putt competition! This is going to be a fantastic event for an excellent cause.
Seven Reasons to Plunge into the Property Game
Written by: Paul Kondakos, BA, LL.B, MBA – Professional Real Estate Investor
If talks about a housing correction are keeping you out of the property investment game, here are seven top reasons to overcome those fears. As real estate veteran Paul Kondakos, president of RealtyHub.ca, points out your time to buy an income-producing property may be now.
1. Mortgage Rates – Canadian bond yields continue to sit at historic lows, as a result it is not uncommon to secure multi-unit residential financing with interest rates as low as 3 – 4%. While Canada has enjoyed a prolonged period of historically low rates, the window of opportunity is finite as interest rates have nowhere to go but up. (Window of opportunity – up to 18 months)
2. Vacancy Rates – CMHC has reported that vacancy rates have been trending downward across most major urban centres across Canada with rates sitting as low as 1 to 2% in many areas. In addition, recent changes to mortgage rules in Canada have made it more difficult to qualify and thus will force many to become renters instead of buyers, thus putting even more downward pressure on vacancy rates in the coming months. (Window of opportunity – up to 36 months and beyond)
3. The Spread – This is the difference between your mortgage rate and your cap rate and determines the strength of your cash flow. Even with the market cap compression taking place in the larger urban centers like Toronto and Vancouver, smaller urban centers still offer healthy cap rates in the 7-8% range (you need to do your research or have a great JV partner). Thus, with mortgage rates as low as 3-4% you can achieve a very healthy spread of 3-4%. (Window of opportunity – up to 18 months)
4. Home Equity – With the Canadian real estate market on fire, home owners have enjoyed a significant increase of the equity in their homes. Equity can be unlocked through a mortgage re-finance or HELOC (Homeowner’s Equity Line of Credit) which can be used to purchase an income property. The added bonus is that the interest costs of the re-finance or HELOC can be written off on your taxes. (Window of Opportunity – up to 18 months)
5. CMHC Insurance – Placing CMHC insurance on a multi-unit property reduces the mortgage rate by between 1/2% to 1% over the life of the mortgage and represents significant savings. CMHC is approaching its $600 billion government-imposed limit on issuing mortgage default insurance. While the government may raise the limit, this is just another reason to buy now and take advantage of CMHC mortgage insurance while it is readily available. (Window of opportunity – up to 36 and beyond)
6. Time – In real estate investing, time is your best friend as it facilitates appreciation, mortgage pay down and cash flow. The longer you own an income property, the greater the ROI. (Window of Opportunity – becomes smaller the longer you wait)
7. Alternatives – With interest rates at historic lows, bank accounts, savings bonds and any other interest bearing investment vehicle offer little return on your capital. The stock market has shown incredible volatility with neglible returns over the past decade and shows little signs of improving any time soon. REITs offer a respectable return on your investment, but investing directly into the asset itself (income property) offers an even greater return on your investment.
This market, this world, is a competitive place. Trust, loyalty and integrity, are essential qualities, that you want in any advisor. Before you meet Anthony, who is trustworthy, loyal and lives with integrity, you need to know the company that he represents. You have, no doubt, seen those purple and green signs that have popped up all over the place. This is EXIT Realty, a company that made an impact on the real estate market like a freight train. Why? Because of those three words trust, loyalty and integrity that set the company apart from the ordinary. EXIT Realty finds the best people, trains them, mentors them and supports them because of their integrity, their loyalty to clients and the trust they build so quickly. Anthony Brown is a real estate professional with EXIT Realty Metro; he is a real estate professional with a great team and a great company. He is the perfect choice to protect your investment, and your future, whether you are buying or selling real estate in Nova Scotia.
How together, we tell your story.
Anthony uses the latest, leading-edge marketing tools. This is the twenty first century and understanding ever changing markets and trends requires skill and dedication. With an entire new world of communication media, it is essential that your real estate agent knows the right mix of media and the right time to tell your story. It is the ability to market the right properties to the right people. Anthony has these skills and the power of EXIT Realty’s award winning, team based approach to client satisfaction. With EXIT Realty you are always front and center in the mind of your agent, their agent colleagues and the entire administration and management team. Your story, whether buying or selling real estate, or both, is special, it is about your life, your family, your needs and your dreams. Some may say, it is simply advertising, but for Anthony and our entire team, it is your story, and together, we will tell it with pride and distinction.
I’d be honored to work with you.
Thanks for visiting my web site. The site is filled with information on buying or selling real estate, community area information, mortgage financing, real estate news, and much more. It is designed to be helpful and not a sales tool. If there is something you’d like to see please let me know. We are always trying to improve.
What I do. Provide outstanding service, negotiate the best price whether you are buying or selling, handle unforeseen issues with financing, inspections, lawyers and paperwork and overcome any challenges that might occur. I am your trusted partner in one of the most important decisions of your life.
EXIT Realty works hard for Nova Scotia.
“Canada’s East Coast is leading the way with dynamic growth as EXIT Realty is poised to be the largest real estate company in Nova Scotia in the next three months, and targeted to be the largest in all of Atlantic Canada within the next 18 months.” Joyce Paron, President of EXIT Realty Canada.
If you’re in the market to buy or sell a home in the Nova Scotia real estate market EXIT Realty and Agent can help you get the job done.