REAL ESTATE ADVICE.STORIES.NEWS.STATS.TRAVEL

Off and Running....

2012-01-26T12:12:00.000-08:00

It's the start of a new year and already I am off to a great start. The snow has not really began to fall and that has buyers out looking. I am working with many buyers at the moment.
January is shaping up to be the best January I have ever had. If you or someone you know is looking for a house now is the time, people are buying and selling. As long as the snow stays away, the buyers will continue to look.
Thank you for visiting my blog, remember you can always find more about me at my website: scott@propertiesbyscott.com
Take care and I wish you all the best. I hope you have a great year!
- Scott

Priority Team forms....

2011-11-21T08:09:00.000-08:00

When the new office opened, Myself along with Jerry Dwyer and Barb Dwyer, decided to join forces and soon became the Priority Team.
The three of us now can offer more services to our clients and also become more available to our clients and their needs.
So far, the feedback is great. Or clients are happy with us and we are happy with them.
This year has been a great year with our list to sale ratio at 99%! We have been all over Ontario this year with listings in London, Woodstock and Windsor.
We hope next year will bring as much success or more. Thank you to everyone that have made our year a successful one!

Sincerely,

Scott

Office is now open!!!

2011-03-22T07:15:00.001-07:00

We are now open! on Monday I began moving into my new office. Great location and newly renovated. There will be a grand opening to follow. I will let you and everybody know when that is so you can come check out the newest reat estate brokerage to open in London.
It is going to be great!

Coming Soon: Keller Williams Lifestyles Realty..

2011-01-20T12:11:00.000-08:00

Hi,

Exciting news. After a successful year I have decided to join forces with 2 other successful realtors. Together we will be able to provide world class service for our clients and offer many more services to benefit you, the client!
Also I have joined a new and exciting brokerage London Lifestyles Realty Inc. -- soon to be Keller Williams Realty. This brokerage will be new to london and shares the same values and services that I do. This company will give me more tools and services that I can provide you with, my valued client.
   My new email address is scott@propertiesbyscott.com and my cell number is 226.448.8203.
   You can be assured that my new team will be able to take care of all your needs and all your referrals.
   I look forward to hearing from all you. Have a great day!

New Company Name, Same Great Service

2010-09-13T13:45:00.000-07:00

Exciting news. Coldwell Banker has now become Royal Lepage. I still have the same contact info. I still offer the same great service just under a new name, Royal Lepage 1st London, Brokerage. If you have any questions for me, please do not hesitate to contact me. Well back to work!

My Visit to Lebanon

2010-04-23T19:38:00.000-07:00

In a word...BREATHTAKING!

    I recently went to Lebanon (Jbeil) to visit my wife's family and to take in some sights. When the plane was landing, the first thing I noticed was a big sign that said PEPSI. I love coke (and yes, there is a difference) so I thought to myself, am I going to find coke here?. Later on, this became the theme of the trip.
    The weather was amazing and it was only the beginning of March. I noticed palm trees, beaches, people relaxing, and food....lots of food.
     There was a big difference in lifestyles. Canadian's tend to live busy, fast paced lives. Lebanon, I found was more relaxed. People just hanging outside their stores, sitting outdoors at a restaurant, enjoying food and drinks.
     I love the style of clothes they have over there. Stuff you will never find over here. The houses are all made of concrete and sit on mountain tops (amazing views). You can be anywhere in the city and have the most amazing views of the mountains. In one hour we drove up the mountains to where it was snowing, then back home to where it was 90F. Very cool. Canada is flat and Lebanon is all mountains.
     I can't say enough about Lebanon, you will have to visit my facebook to see the photos.
     Lastly, the driving.....yup....no rules, no stop signs, no limits....and everyone either has a BMW or Mercedes (such as my Aunt Elaine). It's fun to cruise down the highway and not have to worry about a speeding ticket. The parking however is a different story. Everybody parks wherever they want, including right behind you. Then you are stuck looking for the owner of the car to move it. That sucks.
     I did meet the president of Coldwell Banker Lebanon. We sat down at his office and had a good talk. They have different rules in Lebanon and different pay scales. There is no other franchise in Lebanon other than Coldwell Banker. It was nice to visit Coldwell Banker and see how they run things. I will keep in touch with them for sure. They deal in American money.
     Overall my trip to Lebanon was a blessing and amazing. I can't wait to go back. They have great food, and yes, I did gain some weight. I am back to normal now.
     If you or someone you know is thinking of moving to Lebanon or to Canada from Lebanon, contact me and I will help them through the whole transition.
     There is no other place in my mind that has the history, weather, sights and food like Lebanon does, a beautiful place to visit!

Homebuying Tips For Couples

2010-02-25T14:54:00.000-08:00

   For most couples, buying a home is the most significant purchase they will ever make together. While the prospect of owning a home is an exciting one, it can often seem overwhelming, especially for those who are new to the real estate process. From selecting a neighbourhood to deciding how to use a spare room, navigating the world of homeownership together requires some extra work. However, couples will be thankful they put in the additional time and effort when the “sold” sign is posted on the home of both of their dreams.
   For those couples looking to purchase a home, Scott McGuinness offers seven simple tips for ‘His and Hers’ homebuying that will help to ensure a “harmonious house hunt” without rocking the relationship:
   Get pre-approved for a mortgage. There are few things worse than finding the perfect home, only to find out that it costs more than you can afford. Before beginning the house hunt, Scott McGuinness recommends getting pre-approved for a loan. A pre-approval lets you know where you fall financially while informing the mortgage company that you’re ready to buy. Additionally, being pre-approved for a loan can help speed up the closing process once an offer has been accepted.
    Set a budget. Beyond basic income and savings, there are a number of other financial elements to consider before setting a price range for the new home. Once a couple has decided on a location, they should consider its proximity to their family, jobs and children’s school and then gauge travel costs. The next step is to add up monthly bills, including the couple’s car payments, phone bills, insurance costs, groceries, and credit card payments. This total estimated cost of living should be factored into the couple’s overall budget.
   Get on the same page. Whether it is a quiet neighbourhood or a two-car garage, everyone has their own “must haves” when it comes to the home of their dreams. For a couple looking for a home to share, it is important to discuss each of their essentials before beginning the search. Keep in mind that agreeing on all of the features of a future home will likely be impossible, so be prepared to compromise. Once the list of “must haves” is finalized, Scott McGuinness can help you determine if your expectations are realistic given the homes currently on the market.
   Allocate additional funds. The down payment on a new home is just one of the significant financial aspects of a move. Even after both people’s belongings are combined there will likely still be a need to purchase furniture and other items like a washer and dryer which will require additional budget. The last thing a couple will want to do is start out their life together with nothing in the bank!
   Be patient. A recent Coldwell Banker survey found that women are likely to make up their minds faster than men. Almost 70 percent of women surveyed decided the day they walked into the house that it was right for them, while 32 percent of men needed two or more visits. It will likely take multiple trips to the home before both members of the couple decide it is “the one.” If a spouse needs more time, be patient and try not to pressure them.
   Take inventory of everyone’s belongings. Before a couple moves into a new home together, each person should make a list of the furniture they plan to keep and compare it with their partner’s. There may not be a need (or a place) for three televisions and two kitchen tables in the new house. Consider selling unwanted pieces of furniture online, or holding a garage sale. The money made is sure to be put to good use on purchases for the new home.
   Sign a contract. For a couple who has yet to walk down the aisle, it is important to contact a real estate attorney before closing on a home. A contract should be drawn up outlining who is responsible for what expenses and how assets will be divided in the event of a split.

   Want more tips on the home-buying process? Contact Award Winning Sales Representative, Scott McGuinness. You’ll be glad you called him first!

Staging Your Home During the Holidays

2009-12-09T08:44:00.000-08:00

     Use the holiday spirit to sell a home at the end of the year
     While the real estate market typically slows towards the end of the year, there are still benefits to selling a home during the holiday season. In an average economy, there are usually fewer homes on the market during the months of November and December and a property will have much greater potential for exposure during its important first thirty days on the market. In addition, there may be an influx of potential buyers, as many job transferees may need to get settled by the start of the upcoming new year. To help those hoping to sell their homes during the holiday season, use the following tips:
      Increase curb appeal. First impressions are critical. If the home is in a snowy area, clear the walkways and driveway. Remove any late fall leaves and ensure the path to the stairs is free from ice or snow. Put up a few exterior holiday lights and decorations to display seasonal tidings and pride in ownership. Keep lighting tasteful and consistent with the rest of the neighborhood. A holiday welcome mat outside the front door is also a nice touch.
     Keep the house warm and welcoming. December and January tend to be very cold, so keep the home warm and cozy. If the house has a fireplace, light it to bring the room to life and enhance the ambience. Bake holiday cookies and treats to give the home an enticing aroma.
     Decorate the interior. Do not overwhelm potential home buyers with dramatic displays of holiday cheer; be conservative with holiday decorations. Accentuate the home, do not hide it.
      Remove the lock box. On a practical note, sellers who entertain a lot over the holidays should talk to their real estate agent about removing the lock box. The multiple listing information needs to be changed to let agents know there is a temporary showing procedure, requiring buyers' agents to call the seller to make an appointment. It is best if the house is not shown when entertaining family and friends. Let each sales associate showing the property know the lock box will be on the front porch at the designated time

First Time Buyers want 'turnkey' ready homes, not 'fixer uppers'

2009-11-19T15:03:00.000-08:00

   As a home seller, you may be thinking that a ‘fixer-upper’ property would appeal to most first time buyers trying to put their first step on the property ladder.
   Coldwell Banker recently conducted a survey of real estate brokers and sales professionals across Canada and the U.S. to determine the preferences of first time buyers. The survey findings clearly show that First Time Buyers want a ‘turn key’ property where they can simply move in and start to enjoy living in their new home. These individuals have typically put the majority of their financial power into the down payment. They don’t have large reserves of cash available to start putting more money back into the property on major upgrades and renovations.
    In addition, first time buyers are typically just starting out in their career and --especially in the case of single buyers -- have little free time available for house repairs. Bottom line? The less there is to do on your property in the way of repairs or updates, the more appealing it’s going to be to those buyers. In most cases, it’s well worth the investment to do the necessary repairs and finishing before putting your home on the market.
    Of course, if you’d like to discuss how any planned repair, upgrade or renovation may affect the potential resale value of your home, your first step should be contacting your sales representative.

Negotiating in today’s active market

2009-11-02T12:50:00.000-08:00

    After a brief slowdown for a few months, the real estate market is roaring back in most of Canada’s urban markets. The big question now for many homebuyers is --
     In today’s market, will sellers be more or less open to negotiating their price?
    As with most aspects of real estate, there’s no one right answer to that question. Every transaction is different. Sellers will tend to determine their negotiating position due to a number of factors, such as their financial goals, personal timelines, their own motivation to move and many other factors, including market conditions.
    However, it goes without saying that in an active market with limited inventory, such as we’re seeing now in most of Canada’s major urban centers, sellers tend to have more options. It’s easier to hold firm on your price if you think there are other buyers out there who will be prepared to meet it.
   Of course, the seller is in an even stronger position when it comes to an all-out bidding war. Negotiating a price between one buyer and a seller tends to be a more measured process. When bidding wars come into the mix, emotions run high, timelines are tight and a greater sense of urgency exists. This is when the expertise of your real estate professional really shows its worth. Buyers need to prepare their negotiating strategy with their sales representative in advance. They should know their limits going in, so they won’t get caught up in the frenzied pace of a bidding war and make an impulsive decision.
   Your sales representative can arm you with a wealth of information to help you plan your negotiating strategy. Information such as past sales, competition from other comparable listings currently on the market, and trends in the local marketplace can all be used in negotiations and help you to make an informed decision.
   Want to know more about negotiating strategies? Contact me. You’ll be glad you called me first!

When the price is right...act quickly!

2009-10-12T14:10:00.000-07:00

      Should you always negotiate the price of a home you’re interested in? That’s a question more and more Canadian homebuyers are asking these days. While every transaction is different, some buyers may be surprised to learn that there will be times when it is appropriate -- and even desirable -- to go in at the asking price. This is where the expertise of your real estate professional really proves its worth. One of your sales representative’s most important duties is to provide you with the appropriate research to help you make sound decisions. They can tell you when a home is well priced, and whether or not there are comparable alternatives on the market. And they can also tell you if there are likely to be other offers competing with your own.
      If you’ve found a great property that meets all your criteria, the asking price is attractive, and there aren’t any other comparable homes available, you may be well served to go in at the asking price. Buyers should take into consideration that negotiating the price extends the timeline when the home is still open to offers and during this time, other buyers may enter the process. Sometimes the best course of action is to go in at the asking price and bring negotiations to a swift conclusion. This is especially true in a hot market with low inventory.
      But what happens if you’re interested in a home but think it’s overpriced? If everything else is right about the house, don’t just walk away...negotiate! You have nothing to lose and everything to gain by making an offer. If it’s not accepted exactly as submitted, then you are under no further obligation.
     One word of caution -- be sure that you have your facts straight before you assume that a property is overpriced. Before you decide on what price to offer, contact your sales representative and he/she can show you recent sales and also active listings of comparable properties, as well as advise you about local market trends and conditions. All this will help you to estimate what price range the home will likely sell for in the current market. And this same information can also help your sales representative to negotiate from a position of strength.
     Want more advice on negotiating a fair price in today’s market? Contact me to get a better perspective.

Sizing up your new neighbourhood

2009-10-01T09:10:00.000-07:00

         Buying a home can be a confusing and even overwhelming experience. One of the best ways to take the mystery out of the process is with good information. When you’re looking for the right home, your success can often depend on knowing what questions to ask – not just about a prospective property, but also about the surrounding community. Here are some questions that can help you size up a neighbourhood before you decide to make an offer on a property:

• What other homes in my price range are currently listed for sale in this community?
• How affordable is this housing compared with other nearby markets?
• Where are schools and other amenities located?
• What age groups are predominant in the community?
• What is the average household income of the residents?
• What is the level of education of the residents?
• What is the employment rate or future job prospects in the community?
• Where can I find more specialized information about this community?

         These questions can help you to develop an in-depth community profile. But now that you know what the questions are, where do you go to find the answers? I can help you answer those questions. I can gather great real estate information, whether its about an entire community, a neighborhood, or even your own street. I can provide you with comprehensive and up-to-date pricing information and housing options in your target market and help you select a community that best suits your family’s needs and lifestyle.
         When you decide to buy a home it is important to have a real estate sales representative on your side. People often make the mistake of calling the agent whos name is on the for sale sign. Keep in mind that that sales representative is hired to work for the seller, not YOU. So if you think that person is going to help you get the house for the lowest price possible, your wrong. It's the opposite. So always have a sales representative on your side and at the end of it all, you'll be glad you read this blog and hired a sales representative to work for you.
         Have questions? please do not hesitate to contact me, I am always available.

Billionaire Kevin O'Leary

2009-09-23T16:02:00.000-07:00

I had the opportunity to be a part of a Kevin O'Leary seminar in Kitchener, Ontario on Tuesday September 22nd.

Kevin O'Leary is fiercely opinionated -- and almost always right. O'Leary is known to millions across Canada as the former co-host of Squeeze Play, BNN's popular investment show, and as a judge on ABC's Shark Tank and CBC's Dragons' Den. On both Shark Tank and Dragons' Den, O'Leary ruthlessly grills entrepreneurs, which a) makes for great television, but b) serves to show them -- and anyone watching at home -- that starting a business and growing it is vastly complicated and requires much more than simply having an idea.

       O'Leary's track record in business gives him the force of authority. In 1993, with no money, he launched The Learning Company, which developed software that helped kids with reading and math. Six years later, he sold it to Mattel for 3.7 billion dollars, one of the largest tech deals in Canadian history. As an "Eco-preneur," O'Leary specializes in investments that make money -- and are environmentally friendly. In 2003, he co-founded Storage Now, Canada's leading developer of climate controlled storage facilities; in 2007, it was acquired by In Storage REIT, for $110 million dollars. He is also the co-host for Discovery Channel's Discovery Project Earth, which explores ways we can reverse global warming.
       A shrewd investor, O'Leary is on the investment committee of Hamilton Trust, and on the strategic advisory board of Genstar capital, a $1.5-billion private equity firm. He received his MBA from University of Western, Ontario, and now serves on the executive board of that schools’ Richard Ivey School of Business.
       From the moment he walked through the door until I left at the end, I thought I was in the presence of a rock star. Cameras were flashing constantly, and I must admit I was one of those people taking pictures.
       He began by speaking about some statistics regarding bonds, stocks, and the government (which I can say he does not like). Then he went on to discuss about how to maintain your business in today's market. In the end he spoke of his T.V shows he was doing, and his up coming projects. He was very informative and funny. He cracked a lot jokes about the government and even suggested that they put a cap on what they can spend in a year.
      Some points I would like to point out that I feel may help you in your business or in life. He listed some countries where he feels are great places to invest your money in (stocks). Countries such as, China, Hong Kong, Australia, Tawian, just to name a few. Also he gave us the "3 elements of investing" . First is Capital Preservation. Second is Income (growth), and third Capital Appreciation. People tend to invest based on Capital Appreciation, but Kevin suggested that in today's market it is smarter to focus on Capital Preservation. Basically focus on preserving the business for the future. Think of each dollar you spend and why you spent it. If you have to let go of a few employees to have enough work for the rest of them and to keep the business running then do it. He said "money has no soul, it doesn't care about you". Focus on cost cutting and saving your money to perserve your business rather then expanding and/or raisng prices.
      At the end of the seminar there was a question period and yes, someone did ask if he would invest in their business, and yes, Kevin said "NO". Someone however did ask when is a good time to sell your business and the answer was "whenever some comes knocking". Basically sell whenever someone asks and move on to the next new opportunity.
      He gave great advice and reminded everyone that the only person that matters in your business is the shareholders and you. Nobody cares as much about your business than you do. He said that nobody knows when the market will turn around but don't let that discourage you, and remember to keep cost cutting.
     The seminar was amazing and he just spent the last 11 months travelling 38 countries filming a new show for the Discovery Channel. He is a very smart man and a smart investor, one day I hope to be half as smart as him.
     I will take what I have learned from him and incorporate that into my business. I will never forget what he said and the day I met Kevin O'Leary.