Articles for Sellers

My Square One Condo Team

Mississauga Condo Status Certificates

Written by My Square One Condo Team Saturday, February 25th, 2012
  • What is a Status Certificate?

    A condominium status certificate is a detailed report about the status of a Mississauga condominium. It outlines valuable information including but not limited to; the amount of money in the condo reserve fund, whether or not any major work needs to be done on the condominium, any claims or lawsuits made against the condominium, any special assessments made against the unit owners, the condo budget, insurance information, number of units leased and more.

    Also included within the documentation is the exact cost of monthly condo maintenance fees as well as any outstanding payments.

    The status certificate not only includes the above financial statements but also the condo declaration and condo bylaws. The declaration outlines all of the rules and regulations of the condo. For example, the pet provision which states whether or not pets are allowed in the building.

     

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    • This entry was posted on Saturday, February 25th, 2012 and is filed under ALL Articles, Articles for Buyers, Articles for Sellers. Tags: , , , ,

    My Square One Condo Team

    Will the Mississauga Condo Real Estate Market Crash?

    Written by My Square One Condo Team Tuesday, February 14th, 2012
    • It’s all over the news! As we say goodbye to 2011 and enter a new year, we once again hear the debates about the Canadian real estate market. The news is speculating that 2012, with too many building constructions going on within the GTA and putting the buyer in the driver seat, the market will go soft; stating that there are too many condos and not enough people buying (CTV news- CEOs sound alarmed over Toronto, Vancouver condo markets ). Other sources such as CMHC, predict stable market conditions with the national average of a house hovering around the $368,900 benchmark.

      Despite all this, as I stated in my previous article, there is no shortage of buyers for Square One condos. Properties are disappearing fast from the market and are being sold to distant buyers. Just last week alone, two of my buyers were both in a multiple offer situation and both were forced to pay over the asking price for the unit they wanted. I discussed this phenomenon with my colleagues and they shared similar encounters. Seeing multiple offers in the first 2 months of the year is uncommon, as it’s generally seen as the slow real estate season.

      Mississauga’s condo market is still a baby compared to other places like Toronto and Vancouver. Over the next 15 years, there will be over 20 new condominiums constructed. The question that is often raised is whether or not there will be an oversupply of condos in the market which can, in turn, perpetuate a real estate crash.

       

       

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      • This entry was posted on Tuesday, February 14th, 2012 and is filed under ALL Articles, Articles for Buyers, Articles for Sellers, Investment, Market Statistics. Tags: , ,

      My Square One Condo Team

      9 Tips for Selling your Mississauga Condo

      Written by My Square One Condo Team Monday, February 6th, 2012
      • featuredinselling tips

         

         

         

        1. Establish the Correct Listing Price Establishing the right price for your property is the most vital thing when selling your Mississauga condo. If your listing price is too high, the property may stay too long on MLS and not get sold. If it’s too low, you don’t receive your fair market value. Also, if the price is too low, buyers might walk away, believing that there is something wrong with the property.

        2. Correct Listing Information Your listing agent should make sure that everything is filled out correctly. This includes professional pictures, correct square footage, and an accurate description.

        3. Allow the Lockbox and Easy Access– Access via lockbox is certainly the industry standard. The code to your lockbox is only released by our office to real estate agents in order to minimize any risk to you. Prospective buyers don’t have direct access to your home and are always accompanied by their representative agent. It is also important to make your home accessible during afternoon and evening times, not just certain hours of the day. You do not want to make it too difficult for prospective buyers to make an appointment to see your home. This will allow for more showings and your home will disappear much faster from the market.

         

         

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        • This entry was posted on Monday, February 6th, 2012 and is filed under ALL Articles, Articles for Sellers. Tags: , ,

        My Square One Condo Team

        Mississauga Condos Selling Fast and Attracting Distant Buyers

        Written by My Square One Condo Team Monday, January 30th, 2012
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          Over the past 2-3 weeks I have been working with several buyers, all looking for a condo at or near Mississauga’s downtown core. The universal problem I am experiencing is locating a property, that fits my clients’particular criteria and which doesn’t sell within the first 5 days, while on the market. By the time my clients get to see the condo, think it over and give me the “go-ahead” to make an offer; that property ends up being sold. Just last Saturday, I had 9 showings booked ahead of time, only to be told that there are no more viewings for 4 of those condos as the properties were already sold conditionally.

          What does that mean for Mississauga condo buyers? The Mississauga condo market is hot and time is of essence. If you see a property you like, consider the fact that it might be off the market in a few hours. Also be prepared to go into a multiple offer situation and don’t be surprised if a unit ends up selling over asking price.

           

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          • This entry was posted on Monday, January 30th, 2012 and is filed under ALL Articles, Articles for Buyers, Articles for Sellers, First Time Home Buyer. Tags: , ,

          My Square One Condo Team

          Canadian Real Estate Prices Recap

          Written by My Square One Condo Team Tuesday, November 15th, 2011
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            Statistic Canada released information today, stating that home prices in Toronto gained 0.3 per cent from August to September.

            Re/Max conducted their own study and found some interesting results. The Re/Max study was based on 16 major house markets (including GTA, Vancouver and Calgary) across the country. Between the years of 2000 to 2010 the value of Canadian homes has doubled. Back in 2000, the average home was worth $163,951 and 10 years later the nation’s average of studied homes was worth $339,030. The study also showed that condos have become more and more popular as freeholds become less affordable

            It’s not surprise that the Canadian Real Estate Association has boosted their forecast for sales activity for 2010. According to CREA, 397,561 units have been sold this year to date. This is up 1.8 per cent from the levels in the first ten months of 2010

             

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            • This entry was posted on Tuesday, November 15th, 2011 and is filed under ALL Articles, Articles for Buyers, Articles for Sellers, Investment, Market Statistics. Tags: , , ,

            My Square One Condo Team

            The importance of walk-in closets and secondary bathrooms

            Written by My Square One Condo Team Wednesday, November 9th, 2011
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              With Square One condo prices on the rise, it’s no surprise that this, in turn, has sparked a debate over the efficient use of square footage within units. Over the past decade, we have seen bedroom sizes shrink, and secondary washrooms along with walk-in closets become mainstream. This transformation has Mississauga condo shoppers closely scrutinizing condo unit layouts, trying to decide how to get most for their money. Let’s examine some of the advantages of having a 2nd bath and a walk-in closet.

              A second bathroom establishes an automatic sense of luxury in a condo. The second washroom is usually accessed through the master bedroom suite, which creates a sense of additional privacy. Aside of the luxury aspect, an additional washroom really comes in handy when having guests over. Your personal bathroom belongings can be kept in the ensuite washroom and out of sight from the guests. Other residents take advantage of having two washrooms by assigning each of the bathrooms for exclusive use to different family members.

               

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              • This entry was posted on Wednesday, November 9th, 2011 and is filed under ALL Articles, Articles for Buyers, Articles for Sellers, Condo Features, Investment, Pre-Construction Condos. Tags: , , ,