Mount Pleasant Homes For Sale: Get to Know about MLS and What It’s For

Today’s real estate market can be merciless, and a home seller is certainly going to need all the help he can get. So how do you make your home stand out among the pack of other Mount Pleasant homes for sale? Arguably, the most effective way to do so is to hire a real estate agent who can list your property on a multiple listing service (MLS). Get to know how an agent uses this particular real estate tool to find you the best buyers for the best price in the quickest possible time.

What is an MLS?

MLS is a database owned and managed by real estate agents and their regional trade associations. As a real estate tool, an MLS is a primary channel for posting listings among agents and brokerages. A listing agent and broker enters data about a particular home for sale into the MLS, and in so doing, gives other agents and brokers the authority to bring in buyers in exchange for a share of the commission.

Think of the MLS as a sort of property ‘warehouse.’ When a property is made available for sale, it goes into the warehouse inventory. When it gets sold, it gets taken out of the inventory. Since the property can’t actually be stored in this warehouse, the MLS contains only details that relate to the property. Read more from this blog: http://bit.ly/2lJMcxb

East Vancouver Townhouses For Sale: What is Property Transfer Tax?

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When you buy one of the townhouses for sale in East Vancouver or any such property in British Columbia, the province levies you a property transfer tax on the transaction. This is integral to the closing costs you’ll need to play to seal the deal, so it’s important for you to understand how these costs are calculated and plan accordingly. By doing so, you prevent coming up short at the closing table.

How is property transfer tax charged?

The province of British Columbia charges property transfer tax at 1 percent for the first $200,000 of the fair market value and 2 percent on the portion that exceeds $200,000 and up to and including $2,000,000. In addition, B.C. charge 3 percent on the portion of the fair market value greater than $2,000,000.

To give you a picture of how B.C. computes for property transfer tax, say you were buying a $300,000 home, then you’ll have to pay $2,000 (1 percent) for the first $200,000 and another $2,000 (2 percent) for the remaining $100,000. Adding it all up, your total property transfer tax would be $4,000.  Read more from this blog: http://bit.ly/2m9xEEa

Vancouver Community Centre Agents Say Buy vs. Sell Debate is Pointless

You’ve probably heard people say it before: in this day and age, it makes little sense to buy a home, and it would be a far better option to rent one instead. Real estate experts left and right are saying it, claiming that people should just stick to renting and ignore the age-old advice to buy a home.

Though renting a home can definitely turn out to be the best decision for some, it doesn’t mean it’s the best decision for all. Likewise, buying itself isn’t fundamentally good or bad. Strong arguments exist both ways as any savvy Vancouver community centre real estate agent will tell you. For buying, here are the biggest reasons for doing so:

The home will eventually be yours, and payment will end.
The property can appreciate over time.
Tax credits can offset the cost of homeownership.
You can do what you want with your property. Read more from this blog: http://bit.ly/2m9MLh3

East Van Real Estate Property Buying: Be Sure to Check the Crawlspace

When homebuyers see an East Van real estate property that they love, they rarely give much thought to what’s behind the walls, much less what’s underneath their feet. When you’re doing an ocular on a home, ask if the property has a crawlspace, and if it does, be sure to have it check it out by a professional home inspector.

What is a crawlspace and what is it for?

Crawlspaces are essentially hollow areas in homes located above the ground and under the first floor. These spaces are usually small enough for someone to enter by crawling, hence the name. Crawlspaces are generally used to allow cooling air to circulate throughout a home, but they can also be used to house certain elements of a home’s different systems, such as electric wiring, plumbing, and HVAC ductwork.

Why do you need to check it?

If you’re buying a home, it’s important to have a home inspector look at the crawlspace before you close the deal. Depending on the conditions under there, you may discover that the home has a excessive humidity or mold problem. Worse, there may be a major issue with the home’s foundation. You need to ensure that every element in the crawlspace is in good working order because you and your family’s wellbeing can depend on it. Read more from this blog: http://bit.ly/2luEE1e

Tips for East Van Homes Sellers: 4 Ways to Succeed in a Buyer’s Market

Potential East Van Homes Buyer Closely Checks Out a Property For Sale

Several factors influence the East Van homes market, including inflation, investment, construction, employment mortgage interest rates, immigration, etc. Each of these affect the supply and demand of real estate properties in one way or another, and in so doing, affects prices as well. There are three classifications that real estate experts use to describe the supply and demand situation in a particular housing market.

Seller’s market—when there are more potential homebuyers than there are properties available.
Buyer’s market—when there are more properties available than there are interested buyers.
Balanced market—when supply and demand are just about the same.

Currently, East Vancouver, along with the rest of the Hollywood North is experiencing a buyer’s market. According to CTV News, while a single family detached home in Metro Vancouver cost $1.5 million last month, the same properties today are selling for below $1 million, with one that sold for $560,000 below the initial asking price.  Read more from this blog: http://bit.ly/2luGq2s