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  • Home Buyer/Seller Tips

    Bob was just 20 years old when he purchased his first property in Brampton Ontario. "When my wife and I began buying properties, we found the real estate market to be intimidating and confusing. So when I decided to become a Realtor, I wanted to be the type of Realtor that I wished I had worked with. You know, the type of agent that listens to MY needs and works for MY best interests."

    Here you find many great tips for buying or selling a home. Bob shares with you his insights and experiences when it comes to residential real estate. "My purpose is to help people make good decisions."


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    Bob Roman is a full time Realtor with Kingsway Real Estate, Brokerage in Mississauga, ON.

The Greatest Maketing Plan Ever Invented in the History of Real Estate

I would like you to think about that just for a second. What could it possibly be? Open Houses, Social Media, QR codes, Professional Photography, Video, Newspaper Ads, Fancy Brochures, Post Card Mailings, Wine and Cheese Parties, Talking Signs? ALL of these marketing actives are great for generating showings on a new listing BUT the greatest and MOST important marketing plan ever invented in the history of real estate is ….. PRICE IT RIGHT!

A lot of people don’t realize what happens when a new listing hits the market. At any given time there are buyers and buyer agents in your neighbourhood just waiting for new inventory. They have been looking for months, they are motivated and they are ready to buy right now. When your listing hits the market, it gets immediate attention. Buyer agents see the new listing, emails and phone calls are made to the buyers. THEY WILL COME and if the home is priced right, so will the offers. Done, SOLD, Congratulations! BUT, yes there is a but – what happens if the home is priced WAY above market value?

The buyers will still come and view the home but if the price doesn’t meet the buyers expectations, they go and buy something else. This current crop of buyers are gone and now you have to wait for new buyers to enter the market …. and the home is still over priced. More buyers come and go. Eventually you adjust the price but after 60/90 days on the market, your listing is stale. Buyers will ask why has this home been on the market so long? Eventually after reducing the price, you may sell the home but now it will be for less than market valve. [Did you know that approximately 50% of the listings on the Toronto Real Estate Board don't sell]

If your listing gets stale, re-listing the home will not fix it. You only get one shot at being a fresh HOT NEW LISTING. You NEED to capitalize on that momentum when entering the market. It is crucial to PRICE IT RIGHT in the beginning, not 60 days later. Buyers are savvy. They buy homes, not by a process of selection but by a process of elimination. Don’t get eliminated because your price expectations are unrealistic. It will cost you pain, stress and money in the long run.

Original article written by Bob Roman – August 2013.

First-Time Buyer Government Programs

There is government assistance for 1st time home buyers. Here is a brief description of what is available and how these programs can assist you with your 1st home purchase.

Home Buyer’s Plan:

The plan allows eligible people to withdraw up to $25,000 tax free from their RRSP to purchase or build a qualifying home.

To qualify as a first-time buyer you can’t have owned a home as a principle resident for 4 years before the date of the withdrawal of the funds.

Anyone using this plan has to start repaying the amount 2 years after withdrawing the funds and the entire amount must be repaid within 15 years.

Tax-Free Savings Account:

This account allows people to save money and not pay any tax on the interest accrued. This is a great way to save for a down payment as the money is more accessible than an RRSP.

Home Buyer’s Tax Credit:

If you haven’t lived in another home owned by you or your spouse/common-law partner in any of the preceding 4 years, you can claim $5000 with the Home Buyer’s Tax Credit. This provides up to $750 in federal tax relief. The tax credit is claimed on on income tax returns in the year you purchased the home. There is also an opportunity to purchase a home that is more accessible for a disabled person to claim this tax credit.

Land Transfer Tax Credit:

In Ontario you can claim up to a maximum of $2,000 if you are purchasing a home as a principal resident as long as you or your spouse/common-law partner has never owned a home, or an interest in a home anywhere in the world. Applications must be made within 18 months of the purchase. Documents and forms must be completed and provided to the Land Registry Office or the Ontario Minister of Finance.

When buying a home in Toronto there is an additional Municipal Land Transfer Tax. The rebate for 1st time home buyer is up to a maximum of $3,725

For more information and assistance for 1st time buyers please contact Bob Roman.