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All posts for the month February, 2013

BlogFirst time home buyer. Have you ever had that moment when you need to make a bold decision? Wether it is buying a car or buying your first home it can be confusing and emotional. We often rely asking for advise from our close friends or family members and we tend to ask more questions that can lead us to more confusion.

Question such as..

  • When is a good time to buy a home?
  • Will the real estate market price/value increase or fall?

The fact is if you ask five different people for an opinion you will get five different answers or five different advice. But how do you know which advice is right?

The answer is follow your gut feeling! Most of the time before a first time home buyer start to think about home ownership they already have a pretty good idea about their current financial situation and in most cases already have a clear idea of how much they can really afford but the only thing missing is an advice from a mortgage consultant to validate their intuition.

But the real confusion sets in for first time home buyer when they are about to make an offer. As good as it sounds the fun part of home ownership is looking for a house “the showing” but the real challenge is making that first offer! Why? Because “buyer remorse” usually sets in and this is when they start doubting themselves and their ability to purchase their first home and then they get hung up in the state of confusion.

Here is some of the common question that usually arise…

  • What happen when I lose my job?
  • Will I be able to afford the responsibility?
  • Can I really afford the mortgage?
  • Am I really ready for home ownership?

Most first time home buyer’s get stuck with these emotional questions and hindered themselves from making conscious decisions; and the more they stayed in that state of confusion the more they clouden their reasoning. Often times they stay far too long into that “state of confusion” that they start justifying their false intuition in order not make a decision and without knowing it they’ve already wasted valuable energy.

Picture this, imagine a monkey swinging from one tree to another tree and in between is an abyss of death and that if that monkey fell in it he could die. When that monkey is leaping from one tree to the next tree he has to make a bold decision; to let go of the old tree or not in order to leap on to the next one. The moment he hesitate he gets stuck in between the trees where he is holding onto both trees and ending up wasting his valuable energy. The longer he stays in that position the more likely he would fall in the abyss and die.

When confusion sets in our lives we often fail to make a concise decision and tend to stay longer into that state of confusion and burn more energy than we needed to.

Why do we end up getting ourselves into that state of confusion?

Because confusion is the most comfortable place for ourselves to be into in order for us to NOT make a decision. We often justify our confusion by creating scenario of excuses so we don’t have to make a decision.

Experience have shown that the longer we stay into confusion the more likely that we will end up passing a golden opportunity. So when you think you are ready for home ownership remember my monkey illustration and follow your gut feeling. Remember the longer you stay confused the further it can set you back.

Fear of the unknown

Fear can make us alert; focus and sharp just like an elite soldier trained themselves for dangerous operation. They overcome their fear by continuously rehearsing difficult obstacle in order for them to stay focus and in return obstacles becomes a second nature to them. Remember that managing our fear can help us alert and focus and can make a life changing difference; much more like entering into home ownership of the unknown we just need to get through and beat that negative voices in our ear.

– Alex Macale

News“The January sales figures represent a good start to 2013,” Ann Hannah, the president of the Toronto Real Estate Board, stated in a press release Tuesday. “While the number of transactions was down slightly compared to last year, the rate of decline was much less than what was experienced in the second half of 2012. This suggests that some buyers, who put their decision to purchase on hold last year due to stricter mortgage lending guidelines, are once again becoming active in the market.”
Read more… 

Toronto Jan 2013

Toronto MLS Home Report for January 2013
Note: Please note that in order for the chart to make sense you must be able to identify the Municipality such as (C01, C02….W09, W10) the detail of the location municipality code can be found by clicking on the link below.
Toronto Community Area and Municipality
Other Links:
Find Out How Much Your Home Is Worth In Todays Market
First Time Home Buyers Guide

Markham Jan 2013

Markham, ON. MLS Home Sold Report for January 2013
Markham, ON. Home Sold Statistics for the month of December 2012.
Other Links:
Find Out How Much Your Home Is Worth In Todays Market
First Time Home Buyers Guide