Our Christmas Party!

It’s Christmas... It’s Christmas, that wonderful season, when children are good for a very good reason.  They’ve almost got wings sprouting out of their backs, and that’s when their guardian angels relax.   

Well the guardian angels could certainly take a break last Friday.  Coldwell Banker Horizon Realty had their Christmas party at the Beautiful venue of the Kelowna Golf and Country Club.  For the last 10 years the REALTORS®, staff and owners of Horizon Realty participate in collecting cold hard cash and fund raising for the benefit of the Salvation Army Toys for Tots campaign.  Every year they step up to the plate at their annual Christmas Party, in a very big way. 

With the theme “Christmas in Paris” to inspire them, the party goers opened their hearts and wallets by buying draw tickets  for door prizes donated by Coldwell Banker Horizon Realty and Mortgage Alliance Homeline Mortgage.  

As well, they purchased extraordinary long stem roses from the Kelowna Rose Garden  and cigars that were generously donated by the Watson Brothers Real Estate Team. 

 In total $2,000 was raised!!  (rounded up from $1400 with an additional $600 graciously donated by the owners of Coldwell Banker Horizon Realty) I'm so proud of the crew I work with!!!

In addition to the party fund raising the REALTORS® involve their clients by pushing out invitations to participate with us for this worthy cause.  Other businesses like Turner Audi, and Montgomery Miles Law Offices have also joined in.  The front office of our Harvey location is getting full – but there is still time to help us make a difference in the lives of local families over the holidays so bring in your new, unwrapped toy before December 16th.  

In another complimentary effort, Coldwell Banker Horizon Realty has partnered with the Kelowna Ten Thousand Villages for a designated shopping day on December 13th.  The Partnership program supports the “Fair Trade” philosophy,“helping to build a sustainable future” . Through Fair Trade, artisans receive the respect, dignity and hope that comes from working hard and earning fair value for their work.  When purchases are made at this store, proceeds skip the middle man and go back to the artisans and their families.   On the Partnership day – December 13th – 15% of the sales achieved will be shared with our charity of choice – the Salvation Army Toys for Tots”.  If you still have shopping to do – please consider doing it at Ten Thousand Villages in Burtch Plaza on Highway 97, on December 13th. Enjoy the exception selection of unique, artistic and practical gifts to choose from and the pride in knowing your dollars are helping to fill TWO very deserving needs.

 

Christmas giving – warms the heat - the soul

.... and can be fun too.

When the going gets "Tough"...just call me.

Susan Tough

Things Italian...

Yes it's spectacular   There are, however, some unique ........  features – 

TRAINS: train travel is fast, really affordable, especially if you pre buy before you go over, and very efficient- they are always on time so don’t ever be late. Not all are created equal. The fast track ones even offer first class - pretty cool. Cloth seats, air, even a lovely attendant that goes by and offers hand sanitizers (good to have) snacks and coffee and wait for it..... Clean washrooms. Don't be fooled... there are different standards.

The smaller the towns you are traveling between, the more the standard falls: No attendant. Plastic seats, no place for your luggage (that's easy to use) and the washrooms- just hold it-- really!    Even the yucky trains run on time though. In any case be very very prepared to walk down a lot of stairs in order to cross under the platforms and walk UP A LOT of stairs to the platform you need- remembering you are on your own with your luggage. Be wary of nice young men at the platforms offering to help you with your luggage.  After they have helped you it’s made very clear they want money and get quite cranky if you don't pay. Other than in the major cities, don't expect to find 'staff' or ‘info counters’ to help you read the schedule. There is usually an equally confused fellow tourist, or even helpful local, to confer with. 

PUBLIC WASHROOMS are not their strong suit. Often no paper – ladies, there is even less chance you'll find an actual toilet seat - low dirty bowl and sometimes (like the ones on Mykonos in Greece) a hole on the floor.   The ones you have to pay to use (1 euro is common) are usually very presentable. Good value for that euro! Always have a couple of coins in your pocket handy so you aren’t caught off guard.

The AUTO GRILL – Italy may not have the corner on the market for these but they are fabulous to come across.  Located along the busiest of highways, an Auto Grill is a huge gas bar, tourist info, maps, clean washrooms (pay one euro), Macs or 7 Eleven on steroids for pop and junk food AND They also have a huge buffet restaurant – usually suspended over top the multilane highway so it can be accessed from either direction. You walk through – (1) see what you want – (2) line up to pay telling them what you are going to get, and (3)then go back through to get your food – mac and cheese and pastas of many varieties, pizza, sandwiches’, soups, great salad bar options, burgers, I even think I remember seeing fried chicken once. They are very clean and very well staffed.  Usually have picnic area/tables to use as well.

Smoking and Cell phones – everyone does it and has one – and do both – EVERYWHERE.

BEDS –small, hard but very clean-even two star. - In my experience. 

HOTELS – 2 -3 STAR Small, simple and usually clean, but in my opinion – their average standard and ours are quite different.  One of my travel buddies called it, “relaxed”.  4 star come quite close to our Best Westerns or Sheratons but the beds are still small and hard. Usually offer an above average continental breakfast – we always had fresh fruit, fresh waffles or omelettes made upon request.

COFFEE:  Oh they do that sooooooooo well.   Cafe Americano is close to what you expect from home only top notch beans. Many hotels have self serve machines in their breakfast rooms (which are common) with all the options: cappuccino, Latte, espresso, Americana - even the basic places make good coffee.

OLIVE OIL at every meal even if you don't ask for it. You always have to ask for (and may not get) burro (butter).  Get with the program- use olive oil. It is as detailed and defined industry as wine making. Almost every winery& wine shop sells many varieties of olive oil.  Most wineries farm their own.

WINE – well –that’s a whole other Blog. It is as superb, as available and even more affordable than you could imagine.  ‘Geographica Typica’ means the ‘wine of the region’.  Making that choice is a great rule of thumb to follow and always a safe bet if you’re not sure what to order.  The least expensive house wine is usually fabulous.  A couple of times we would make our choice and the waiter would say, “ That’s too expensive – try this one instead – it’s even better” –they never led us wrong.  YUM!

Overall – the Italians are welcoming and helpful.  If I had to choose only one adjective to describe them and their beautiful county it would be PASSIONATE!

They are passionate about the coffee they drink, the wine they make, the clothes they wear, the conversations they have, the music they listen to, the work they do and they way they play.  We could take some lessons from them on enjoying life to the fullest.

 When the going gets "Tough"...just call me.

Susan Tough

Is it a reliable source?

These notes are a follow up from my BLOG about first time Buyers from a couple of weeks ago and the many, many questions consumers can have when looking for and buying real estate.


While the internet is a useful tool for prospective home buyers, sometimes people forget about other aspects of the home searching process when looking for a home.
As useful as the internet is, and as much information as REALTORS(R) have placed online, buying a home is still a complex process, especially for those with little experience. 


Many studies show that people shopping for a home sometimes assume they can do everything themselves. Depriving themselves of the assistance of a real estate agent can make it harder for home buyers to find an appropriate property and leave them unprepared for what's next if they locate one.


Using narrow searches


One pitfall many home buyers fall into is relying on a single search engine to find possible homes. REALTORS® do not necessarily use every site available to them when they market a property so this may eliminate a lot of available prospects from the search.

While narrowing down your search criteria is a necessary step, focusing on one resource can remove good choices from consideration as easily as poor ones.


MSN Real Estate suggests selecting several search tools and using them in tandem. This can fill in gaps and allow home buyers to compare results. That way, the home buyer has a better overall picture.


Missing out on resources


Real Estate search engines consistently report that one major time-waster among home buyers is looking at homes they cannot afford. Getting pre-approved for a mortgage is one way to determine what price range to shop within and avoid wasting time on properties over the budget. My previous BLOG addresses the huge benefits of working with a Mortgage Broker – one Broker that knows all your information – rather than shopping it out through many.  Refer back to that BLOG to remind yourself of the benefits a preapproval from a trusted Mortgage Broker can bring to the success of a transaction.


Another resource home buyers may be unaware of is real estate auto search feeds or email alerts. They can help fill in knowledge gaps about the market and provide current information.


A good Real Estate Agent can have years of experience in a locality, and may know what neighbourhoods to look in just from a description and price range of what the home buyer wants. In addition to finding more listings and their ability to narrow things down more efficiently, agents stay informed about current developments in an area, which may be difficult for home buyers not from the area.


Communicate clearly and concisely with your REALTOR® – they are in the best position to weed out the bad and highlight the good – they will look at your options with a more open mind and help you to consider possible properties or areas you may not know exist.  After all, that’s what they are there for!  The Multiple Listing Service® provides much more detail to the professional REALTOR® than it does to the public. While you shop on your own - you could be making decisions based on incomplete information. 

Personally, I am extremely grateful that I am associated with what is considered to be the strongest and most reliable MLS® available to the public; it makes my job as Broker/Manager easier, and simply put, without their innovation, talent, and dedication to the partnership REALTORS ® would be dead in the water and your search for your next home would be much more frustrating. www.realtor.ca

 

When the going gets "Tough"...just call me.

Susan Tough

Why should I use a Mortgage Broker?

At our office meeting the other day one of the agents stood up and gave his appreciation to our in-house mortgage broker for helping his clients acquire financing.  The story was that the clients had gone to their bank for financing for the home they wanted to purchase and were refused.  This agent then recommended they talk to a mortgage broker.  The mortgage broker was able to help them and even got them a better rate of interest. The clients were very happy to be able to purchase the home.

Here is a list of reasons to use a mortgage broker:

1. You get independent advice on your financial options. As independent mortgage brokers and mortgage agents, they’re not tied to any one lender or range of products. Their goal is to help you successfully finance your home or property. They’ll start by getting to know you and your home ownership goals. They’ll make a recommendation, drawing from available mortgage products that match your needs, and you will decide together on what’s right for you.
2. Save time with one-stop shopping. It could take weeks for you to organize appointments with competing mortgage lenders — and they know you’d probably rather spend your time house-hunting! They work directly with dozens of lenders, and can quickly narrow down a list of those that suit you best. It makes comparison-shopping fast, easy, and convenient. 
3. We negotiate on your behalf. Many people are uncertain or uncomfortable negotiating mortgages directly with their bank. Brokers negotiate mortgages each and every day on behalf of Canadian home buyers. You can count on their market knowledge to secure competitive rates and terms that benefit you. 
4. More choice means more competitive rates. They have access to a network of major lenders in Canada, so your options are extensive. In addition to traditional lenders, they also know what’s being offered by credit unions, trust companies, and other sources. And they can help you take care of other requirements before your closing date, such as sourcing mortgage default insurance if your down payment is less than 20% of the purchase price.
5. Ensure that you’re getting the best rates and terms. Even if you've already been pre-approved for a mortgage by your bank or another financial institution, you’re not obliged to stop shopping! Let a mortgage broker investigate to see if there is an alternative to better suit your needs.
6. Get access to special deals and add-ons. Many financial institutions would love to have you as a client, which is why they often offer incentives to attract creditworthy customers. These can include retail points programs, discounts on appliances, shopping clubs, and more. The mortgage broker does the math on which offers might be worth your attention when it comes to financing or mortgage insurance — so you get the perks you deserve. 
7. Things move quickly! Their job isn't done until your closing date goes smoothly. They’ll help ensure your mortgage transaction takes place on time and to your satisfaction.
8. Get expert advice. When it comes to mortgages, rates, and the housing market, they’ll speak to you in plain language. They can explain the various mortgage terms and conditions so you can choose confidently.
9. No cost to you. There’s absolutely no charge for their services on typical residential mortgage transactions. How can a mortgage broker afford to do that? Like many other professional services, such as insurance, mortgage brokers are generally paid a finder’s fee when they introduce trustworthy, dependable customers to a financial institution. These fees are quite standard and nearly industry-wide so that the focus remains on you, the customer.
10. Ongoing support and consultation. Even once your mortgage is signed and paperwork is complete, your mortgage broker is here if you need any advice on closing details or even future referral needs. They are happy to be of assistance when you need it.

I think that says it all.  Thanks to Mortgage Alliance Homeline Mortgage for providing this information to me.

When the going gets "Tough"...just call me.

Susan Tough

Why do I have to tell you what they paid me?

Question:   We have a client who has a rental property and has offered our REALTOR® a referral fee if we send renters their way.

Is this allowed?

If a REALTOR® is not licensed to provide property management services and, as above, refer a tenant to a client – the referral fee (if received) must still be paid through the Brokerage as Property Management activity is included in the ‘trading services’ definition.

Licensed REALTORS® and Property Managers are under the obligation to report any and all remuneration (referrals, finder’s fees, commissions, expense reimbursements, bonuses) that is earned as a result of ANY ‘trading services’ activity, to their Brokerage.  Funds must be remitted to the Brokerage from the client and then paid out to the REALTOR® through the Brokerages Commission Trust account.  If a licensee accepts any remuneration directly from a client (Buyer, Seller, Landlord) they are in breach of their agent agreement to the client and the rules of their licence and Brokerage. Under the definition of Trading Services in section 1 of the Real Estate Services Act, “finding real estate for a party to acquire or finding a party to acquire real estate”, includes tenants and/or leases and as such licensees with a trading service license can provide this service however; they could not provide any of the other services defined under Rental Property Management Services in section 1 of the Real Estate Services Act they risk a suspension, fine, both or loss of their license issued by the Real Estate Council of British Columbia.



Something an innocent as a REALTOR® pocketing money a client reimbursed them for some special advertising they requested can cause the REALTOR® and the Brokerage many hours of investigation, reports and possible Hearing with the Real Estate Council.
To put it simply – Don’t do it!!

When the going gets "Tough"...just call me.

Susan Tough

Out of the mouths of babes……

Do you remember when you bought your first home??  I do.   My REALTOR® was a girlfriend and long time, very experienced one.  She looked after everything.
 My daughter bought her first home a while ago.  She was not near me or in a city I was familiar with so providing her with my assistance was difficult.  I thought I had hooked her up with a good REALTOR® – turns out…..not so much.
After the process was done and I had returned from Israel– I received an education in “first time buying” from Samantha (my daughter).
As productive REALTORS® we do things over and over again – we often forget to address some of the many details we take for granted.

• How do we know what inspector to use – are they all qualified and insured? What and when do I have to pay them?  Can we use any little thing that’s found in the inspection to get  out of the deal?
• Do we get qualified for financing  first or do we look around for what we want first?  Do I need a Bank or a mortgage broker?  What is mortgage insurance and why do I need it?  It’s expensive – do I have to come up with that extra money or can the mortgage amount include it?
• The down payment is a gift - how does it have to be recorded?  Is it OK that we receive it a couple of days before we have to close the purchase?  When do we need the deposit money to be available? Does it matter to our qualification for a mortgage?
• Is an appraisal always required?  Why or why not and do we have to pay for it?
• Property transfer tax – what is that? How do you avoid it?  Does it matter if you are a First time buyer in BC or anywhere?
• Do I need a lawyer? Will I have to pay them – how much? – Before they do the work or does it come from the financing? 
• How much time do we need from writing the offer, doing our due diligence, removing our subjects and then completing the purchase?
• If we ask for the appliances can they switch them out for older ones – or different ones? 
• How expensive is house insurance?  When do we have to have it arranged? What do we need to know about the house to tell the insurance company in order to get a quote?
• Utilities – are they automatically hooked up?  What if we have never had a utility account before?
• If the seller paid the property tax do we have to pay them back?  Are there different ways we can pay our property taxes every year?
• What are strata fees?  What do you mean – there are rules we have to follow to live in a strata complex?

As a REALTOR® reading this, ask yourself if you have provided the answers to all of these questions in a timely manner to your Buyers.  Are they worried about things they have not communicated to you?  Do they even know what questions to ask? – Not likely.  With something as big and new as a first time home purchase, the clients have no idea how much they don’t know.  It’s the REALTORS® job to anticipate those questions, provide guidance and answers to help the clients be prepared for each step that comes along.  It will make the process much less stressful for the Buyer and likely facilitate the transaction closing smoothly, without issue.
As a Buyer reading this – did your REALTOR® have the answers to all of these questions?  DO you feel you were adequately prepared and helped through the process – did it go smoothly?  If you are just now contemplating a purchase – interview potential REALTORS® - ask them for references. Arm yourself with the questions above and be sure you feel confident they know the answers.   Purchasing a property, whether it’s your first or fifth, is a very big deal.  One that should be exciting, positive and with minimal stress (it’s hard to avoid completely).  The right REALTOR® can make a huge difference to your experience.

If you need help finding one or if you would like the answers to these questions – just ask. 

When the going gets "Tough"...just call me.

Susan Tough