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Eric Skicki

3 Truths Every Condo Seller Must Know

Written by Eric Skicki Friday, November 14th, 2014
  • condo-sellers

     Your Condo Is Not THAT Special

    Most sellers insist that their condo is special and deserves a higher list price than other comparable properties. Sometimes this justification of a higher price is made because of upgrades, other times it’s because the seller is misinformed or just unrealistic.

    We have to keep in mind that some upgrades are not to everyone’s taste; such as floor colours or cabinet colours. Remember that 90% of condos sell within 2% of asking price and therefore, it is important to price your condo right the first time you put it on the market. Overpriced listings quickly become stale listings and buyers lose interest quickly.

    Pro tip: Typically speaking, when selling a unit, an owner can expect to recover only 40%-60% of the value of any given upgrade.

     

    Sellable vs. Livable

    Many properties that are on the market are either owner-occupied or vacant, and it is hard to keep it in a very clean condition. However, some things are a bare minimum requirement when choosing to place your condo for sale.

    – Depersonalize your property by putting away personal items in boxes or drawers, since the

     

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    • This entry was posted on Friday, November 14th, 2014 and is filed under ALL Articles, Articles for Sellers. Tags: , , ,

    Eric Skicki

    Should I Buy a 1 Bedroom or 2 Bedroom Condo as an Investment?

    Written by Eric Skicki Sunday, October 26th, 2014
    • 1-bedroom-vs-2-bedroom

      Perhaps, the number one question asked by any investor looking to purchase a condo in Mississauga for investment is whether they should buy a one bedroom or a two bedroom condo. Although both have their advantages and disadvantages it’s important that the buyer is aware of all the pros and the cons that come with each choice. In this blog post, we will examine how a one bedroom vs. a two bedroom apartment purchase, affects the bottom line of any investor.

      Appreciation

      Capital appreciation is the price appreciation each condo owner gets simply by owning a condo over a period of time.  With real estate prices in Mississauga universally going up by a 2-5% year over year, the idea of leveraging a small downpayment, against a large purchase price is attractive to investors. To put into perspective; if a one bedroom condo which sells for $275,000 goes up in price by 10% over a four year period, the owner made $27,000 in appreciation. On the other hand, if a two bedroom unit which sells for $350,000 goes up by 10% in the same four years, the unit has appreciated by $35,000.

      Two bedroom units appear to be the better choice over one bedroom units, when looking at the appreciation rate.

       

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      • This entry was posted on Sunday, October 26th, 2014 and is filed under ALL Articles, Investment. Tags: , , ,

      Eric Skicki

      Parents Helping Their Kids Buy Condos

      Written by Eric Skicki Friday, September 5th, 2014
      • HelpingKidsBuyCondos

        Will parent-investors become the new type of condo investors?

        Over the past year, we have seen more and more parents buying condos for their kids to enjoy in the future. The most common purchase is a pre-construction one bedroom/ one bedroom plus den condo, which typically goes for about $270,000-290,000 depending on the size, floor and layout.

        What makes the parent investor different from your traditional condo investor, is that they are in it for the long term. Typically this means anywhere from 5-10 years.

        When the parents initially purchase these pre-construction condos, the kids are sometimes as young as 14-16 years. Once the pre-construction condos are ready, parents hope to rent them out for a few years and have their kids move in once they have finished school and land a good job.

        If the parents, for whatever reason, decide that the kids should not move in, then they can continue to rent out the condo (so that it pays itself off), or sell it for an anticipated profit. Parents see this as a “win-win” situation.

         

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        • This entry was posted on Friday, September 5th, 2014 and is filed under ALL Articles, Articles for Buyers, Investment. Tags: , , , ,

        Eric Skicki

        A Guide To Renting Condos in Mississauga

        Written by Eric Skicki Friday, July 25th, 2014
        • lease a codno

           

          If you are looking to rent a condo in Mississauga, we compiled a checklist to make sure that you have not forgotten about anything.

          The first thing you should know is that most leases for condos in Mississauga do require a one-year commitment. If you do find something short term, it’s not uncommon to pay a premium of 30-40% more than the market rate. Next, 95% of condos available for lease are unfurnished, which means you have to have your own furniture. Furnished condos can difficult to find, and rent for $300-500 more than similar unfurnished units.

           –

          Before Submitting An Offer

          1. The first step to renting is to make sure that you have a job letter from your employer. The job letter usually should state that you are a full-time employee, getting paid a certain amount of salary and that your position is permanent.  Landlords like to make sure that you are working and that you can pay your rent. If you do not wish to disclose your income, then you can contact us and we can help you out. Another option would be to have a job letter stating where you work and how much you roughly make.  
           

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          • This entry was posted on Friday, July 25th, 2014 and is filed under ALL Articles, Other. Tags: , ,

          Eric Skicki

          Pinnacle Grand Park 2 Condo VIP Release

          Written by Eric Skicki Wednesday, June 11th, 2014
          • 728X90

             

            Edit: We still have the VIP promotions extended for a limited time period. If you are interested please give me a call and I can set you up with a private tour! 647-689-7517

            Pinnacle will be releasing a new set of condos, starting from just $265,900 or low to mid $400’s per square foot. With no other condo projects being released in downtown Mississauga in 2014, this may be the last opportunity for any buyer to have a first-hand pick of whichever unit they like. We will be having a  special event on June 21st, 2014, where our clients will have one-on-one appointments to pick any unit they like. The builder will be officially closed to the public on that day; so please do make sure to register with us to take advantage of this opportunity.

            Floorplans/layouts can be found on MyPinnacleCondo.ca  For those interested to see the complete pricing, I encourage you to contact us and we can send them to you VIA email. 

            Who is Pinnacle Grand Park 2 targeting?

            With an anticipated closing date of May 2017, the Pinnacle condos are really for those who are planning their future. This mainly consists of three primary groups.

            The first group is; the young adults who are still living at home with their parents. Making the giant leap to live on your own can seem like a serious commitment, and young adults do want to make sure they have enough time to save and prepare for the life that awaits them outside of the comfort of their own home. Parents, on the other hand, are often proud to help contribute financially and help their kids start off their lives.

             

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            • This entry was posted on Wednesday, June 11th, 2014 and is filed under ALL Articles, Pre-Construction Condos. Tags: , ,

            Eric Skicki

            What Makes Good Condos, Simply Amazing!

            Written by Eric Skicki Wednesday, May 21st, 2014
            • For any buyer looking to purchase in downtown Mississauga, the process of buying a condo can seem overwhelming. With so many buildings to choose from, buyers are often left with uncertainty, not knowing if they have purchased a unit that they will completely be happy with. This is why I always stress to my buyers, that the most important aspect of selecting the right condo is – lifestyle. The lifestyle each condo has to offer is different, and I believe each buyer should be educated as much as possible about each condo (both negative and positive) before they commit to the purchase. In this blog post, I will cover some of the features which make a condo stand out from the others.

               

              Condos for Sale in MississaugaFree Parking Access at Chicago:

              385 Prince of Wales is one of the only buildings that have a lot of visitor parking space since it is outdoors. It is also in front of Rabba and Dry Cleaners. It seems that many condos in Square One have two issues when it comes to parking. 1.) Time restrictions and limitations – how many parking passes a month are issued for your guests. Example only 8 passes a month. 2.) Availability – the condos that don’t have these restrictions have issues with availability. On the weekends; Friday and Saturday nights parking spots are very scarce.

               

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              • This entry was posted on Wednesday, May 21st, 2014 and is filed under ALL Articles, Articles for Buyers, First Time Home Buyer. Tags: , , , ,

              Eric Skicki

              Low 2.99% 5 year Fixed Mortgage Rates Are Back!

              Written by Eric Skicki Sunday, April 27th, 2014
              • If you have been on the fence about buying a condo in Mississauga for the last little while, this might compel you to purchase a condo. Last week the Bank of Montreal brought back their 2.99% 5 years fixed mortgage rate. Originally, this same rate was offered last year and it only lasted about three months. Afterward, the 5 years fixed rate slowly crept up to about 3.5%.

                What does this mean for the average consumer looking to buy a condo in Mississauga? For someone looking to buy a $300,000 condo with a 10% ($30,000) downpayment, the difference between getting a rate of 2.99% over 3.5%, could mean saving around $70 a month. Now that may not seem

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                • This entry was posted on Sunday, April 27th, 2014 and is filed under ALL Articles, Market Statistics.

                Eric Skicki

                Get A Free RENO & Be Featured On TV!

                Written by Eric Skicki Tuesday, April 8th, 2014
                • property brothers HGTV

                  At one point, we have all seen a real estate show on TV. Whether it was Love It Or List It, Property Virgins, or The Property Brothers. Some of us have wondered what it would feel like to have our home featured on a show. How we would like our home to be renovated or remodeled, and what it would look like after. Then we thought about the show and how much our home would be worth after a reno job was complete.

                  The shows spark our imaginations and they let us look at our homes, and sometimes we start noticing what we would like to have changed about our home. Then we contemplate; well, maybe it is time to sell this place and get something else. If this is the case, then we have some great news for you. We have been asked by the producers of the Property Brothers: Buy and Sell, to feature some of our clients on the Tv show. The show airs on the W Network and HGTV. Our sellers: both house and condo sellers, interested in this must know the following:

                   

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                  • This entry was posted on Tuesday, April 8th, 2014 and is filed under ALL Articles, Articles for Sellers. Tags: ,

                  Eric Skicki

                  4 Changes Happening Now In The Mississauga Condo Market

                  Written by Eric Skicki Sunday, March 16th, 2014
                  • Downtown Mississauga

                    No New Condo Projects Being Launched 

                    In 2012/2013,  there were 5 condo projects in downtown Mississauga which were launched; PSV 1 and PSV 2, Pinnacle Uptown 1 and 2 and Pinnacle Grand Park. Since the market has been healthy and steadily going up, builders are watching the market in order to see how the market will unfold for the rest of the year, and therefore, no new launches have been planned for this year in the Square One Area. However, the five projects mentioned above still have some inventory left over. For those projects with fast approaching occupancy dates, there are currently some great deals and promotions being offered to us. We have a close partnership with PSV and Pinnacle and would love to offer our clients all the perks of condo ownership, along with great offers.

                    Pro tip for buyers – If you are still looking to purchase a PSV or Pinnacle condo, now is your chance to get great deals and promotions through us. Contact us for more info!

                     .

                     

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                    • This entry was posted on Sunday, March 16th, 2014 and is filed under ALL Articles, Market Statistics.

                    Eric Skicki

                    Hidden Tax Costs When Purchasing A Condo

                    Written by Eric Skicki Wednesday, March 5th, 2014
                    • hidden fee

                      One of the main factors, when choosing a new home, for many new home buyers, is deciding which city is the right fit. Most people will choose a location close to their work. Others may pick a location associated with higher social status. Whichever factors go into your decision, property tax is something you should consider. Property and land transfer taxes are required to be paid to the owner on your Closing Date. The money is split between the city, region, and province. In this article, we will outline the property tax and land transfer taxes associated with purchasing a property in the Square One region of Mississauga.

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                      • This entry was posted on Wednesday, March 5th, 2014 and is filed under ALL Articles, First Time Home Buyer. Tags: , , , ,

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