Anthony Ibhahe Personal Real Estate Corporation

Royal LePage West Real Estate Services
#6 - 9965 152nd Street, Surrey, BC
P: 604-581-3838 F: 604-581-6761
Email

August 2010

Anthony Ibhahe, B.A.Sc.

Direct Cell #: 604-788-0179
Office #: 604-581-3838
Office Fax: 604-581-6761

Website: www.aibhahe.com Email: aibhahe@gmail.com

DID YOU KNOW...

There’s a simple path to greener laundry: pick the cold water wash cycle! Around 90% of the energy used by washing machines goes to simply heating the water. Many people assume that they’re getting extra cleaning power by washing in hot water but, in most cases, washing clothes in cold water is just as effective as washing clothes in hot water. Hot water is sometimes beneficial when you’re trying to remove oily stains or sanitize heavily soiled items but, otherwise, wears out clothes quickly, causing them to fade, stretch and wrinkle. The hot cycles on most residential washing machines don’t even heat water to the temperatures required to destroy or remove a majority of allergens (55-60°C).

MORTGAGE MATTERS

Homeowners who break a closed mortgage before maturity will often make a pre-payment before the mortgage is discharged. The idea is to reduce the mortgage balance and thereby pay less of a pre-payment penalty. It’s a great idea if you have the funds to do it. Remember, however, that lenders have different policies on how close to the payout date you can make a pre-payment.

HOMEOWNER TIPS

Paint Brush Tips:
When it comes to painting, many people will buy the big package of brushes for $7. But the bristles on these brushes may be coarse or could fall out. In addition, they can end up looking ratty after a while and the paint won’t spread evenly. The key is to buy a good quality brush and clean it properly as specified on the label. And if you have a big job and find yourself having to paint in intervals, you can wrap your wet brushes in kitchen wrap. Place the oil-based brushes in the freezer and the latex-based in the fridge. When the job has been completed, you can then clean them and put them away. In many cases a good brush will last for dozens of paint jobs.

Welcome to the August issue of the Real Estate Journal, which is designed to help you make a more informed decision the next time you’re buying or selling a property!

This month’s edition discusses the importance of avoiding overpricing your home when you’re ready to sell, as well as highlights the positive correlation between homeownership and overall financial fitness. Please feel free to ask questions or offer feedback regarding anything outlined below via phone or e-mail.

Thanks again for your continued support and referrals!




It’s essential that you price your home as accurately as possible in any market to help ensure it sells at a reasonable price within your desired timeframe. Sellers can often be reluctant to price their home in line with the marketplace as they feel they may be giving away too much of their home equity. The reality is, however, that pricing your home correctly from the start will benefit any seller in the long run. Here are some of the reasons why pricing your home at the current market value is extremely important: Potential buyers may not look at your home if they believe it’s out of their price range. Buyers comparison shop when considering a home purchase. When a buyer compares an overpriced home versus one that is priced at market value, it will likely convince them to place an offer on the well-priced property instead of yours. Properties that have been on the market for extended periods often come under scrutiny from buyers who question why the properties have yet to sell.		Perception is a key factor in how a seller’s home is viewed by the average homebuyer. Real estate agents may skip over showing an over-priced home as they may believe the seller has little motivation to actually sell the property. Buyers’ agents are always keen on getting their clients through the doors of a well-priced home first in order to give their clients first crack at getting the home of their dreams. The longer a listing stagnates on the market, the more likely it will sell for less than had it been priced right in the first place. The key to pricing your home to sell for the most amount of money in the shortest period of time is to work with a local real estate professional. We know how to do an accurate market comparison and arrive at an asking price that will offer some room for negotiation, but not scare off potential buyers. As always, if you have any questions about buying or selling a home, your answers are just a phone call or e-mail away!




According to a recent survey sponsored by mortgage insurer Genworth Financial Canada, homeowners are in the best shape when it comes to financial fitness in Canada. Sixty-five percent of homeowners pay off their credit card balances each month (versus 48% of non-homeowners). Furthermore, a quarter of those homeowners with mortgages have managed to make a lump-sum payment or accelerate their mortgage payments in the past year. Nearly half (44%) of homeowners were able to pay all of their bills and save some money in the past year, suggesting a strong correlation between homeownership and financial fitness. The Financial Fitness survey was conducted in conjunction with the Canadian Association of Credit Counselling Services. Compared to the same survey undertaken in 2007 when the economy was booming, Canadians are even more likely now to say their financial fitness is good (55% versus 50%).		Other key survey findings show: Mortgage holders more likely to have accelerated or made a lump-sum payment include those with incomes $75-$99k (32%) or $100k+ (30%), and women more than men (26% versus 21%). 49% of homeowners made down payments of 20% or more on their purchase 13% of homeowners say they are in great financial shape 12% of homeowners say they have requested a credit report within the past 12 months 59% of Canadians say they pay their credit cards in full each month 39% of Canadians say that in the past year they were able to pay their bills and save some money. A further 41% were able to pay their bills but not save First-time buyers/those who intend to buy a home as well as those requiring mortgage insurance are more likely to have spoken to a financial planner/coach in the past 12 months Click here for complete survey findings.

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