Appraisals CAN be Challenged !!!

How to Challenge that LOW Appraisal !

WHY BUY MULTI-RESDENTIAL PROPERTIES...

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WHATS IN A WORD....??? (TO FUNNY)

WHAT’S IN A WORD – FUNNY TRANSLATIONS....

After my last post I decided to look a little deeper into the meaning of some real estate terms often used.  Sometimes things are very accurate, but sometimes things are not always what they seem…….

• Corner lot – noisy intersection of two busy streets
• Will help finance – owner knows they’re asking too much
• Cathedral ceilings – a bear to heat
• Well below market – nobody else wants it
• Great starter home – standing room only
• Easy freeway access – noisy freeway traffic day and night
• Low maintenance lot – no yard; the kids will have to play in the street
• Meticulously maintained in the original condition – the appliances are 50 years old
• Ready to remodel – the house is about to collapse; you will have to invest twice the asking price in remodel before you can move in
• Newly remodeled kitchen – 50-year old cabinetry and faucets have been replaced with cheap modern equivalents
• Ready to move in – the interior has been painted with one coat of cheap paint
• Desirable neighborhood – this little house is extravagantly overpriced because the neighborhood has a snobbish reputation
• 1 car garage – you can drive your Ford Escort into the garage but there is no room to open the door
• Partial mountain view – you can see the tip of Mt. Diablo if you climb on the roof
• Territorial view – good view of your neighbor’s bedroom window
• Build sweat equity – the house is not inhabitable
• Efficiently designed kitchen – the kitchen is too small to fit two people at the same time
• Doll-house – tiny place filled with ugly knick-knacks.
• Secure location – the neighbors dog barks all night
• Country living – too far from anywhere to drive to work
• Cozy – not a single room could fit a full size bed
• Close to all amenities – the backyard is a shopping mall parking lot
• Must see inside – the outside is ugly
• Motivated sellers – subtract 15% from the asking price
• Near transportation – Amtrak train goes through the backyard, every 15 minutes, day and night
• Just available – previous owner just died on the premises, hope you don’t believe in ghosts

How will you find a creative way to describe the flaws in your home when you plan to sell?

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JOHN VENTRESCA, REIO REALTY LTD

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Average Home Price Up Strongly in 2012...AND A GREAT 2013 TO FOLLOW

TREB-MARKET UPDATE-2013


TORONTO, January 4, 2013  –  Greater Toronto Area REALTORS® reported 
3,690 sales through the TorontoMLS system in December 2012 – down from 
4,585 sales in December 2011.  Total sales for 2012 amounted to 85,731 –
down from 89,096 transactions in 2011.
“The number of transactions in 2012 was quite strong from a historic 
perspective.  We saw strong year-over-year growth in sales in the first half of 
the year, but this growth was more than offset by sales declines in the second 
half.  Stricter mortgage lending guidelines resulted in some households 
postponing their purchase of a home.  In the City of Toronto, the dip in sales 
was compounded by the additional Land Transfer Tax, which buyers must pay 
upfront,” said Toronto Real Estate Board (TREB) President Ann Hannah.
The average selling price in December 2012 was up by 6.5 per cent year-overyear to $478,739.  The average selling price for 2012 as a whole was up by 
almost seven per cent to $497,298.
“Robust annual rates of price growth were reported through most months of 
2012.  Price growth was strongest for low-rise homes, including singles, semis 
and townhouses.  Despite a dip in sales, market conditions remained tight for 
these home types with substantial competition between buyers,” said TREB’s 
Senior Manager of Market Analysis Jason Mercer.

TREB-VIDEO-2013

MARKET UPDATE, A HEALTHY 2013 !!! A GOOD READ... REALTORS®

Average Home Price Up Strongly in 2012
TORONTO, January 4, 2013  –  Greater Toronto Area REALTORS® reported 
3,690 sales through the TorontoMLS system in December 2012 – down from 
4,585 sales in December 2011.  Total sales for 2012 amounted to 85,731 –
down from 89,096 transactions in 2011.
“The number of transactions in 2012 was quite strong from a historic 
perspective.  We saw strong year-over-year growth in sales in the first half of 
the year, but this growth was more than offset by sales declines in the second 
half.  Stricter mortgage lending guidelines resulted in some households 
postponing their purchase of a home.  In the City of Toronto, the dip in sales 
was compounded by the additional Land Transfer Tax, which buyers must pay 
upfront,” said Toronto Real Estate Board (TREB) President Ann Hannah.
The average selling price in December 2012 was up by 6.5 per cent year-overyear to $478,739.  The average selling price for 2012 as a whole was up by 
almost seven per cent to $497,298.
“Robust annual rates of price growth were reported through most months of 
2012.  Price growth was strongest for low-rise homes, including singles, semis 
and townhouses.  Despite a dip in sales, market conditions remained tight for 
these home types with substantial competition between buyers,” said TREB’s 

Senior Manager of Market Analysis Jason Mercer