Archive for May, 2019

May 21, 2019

How do you perform your condo searches?

Just like any other property, condo searches are helpful for finding the latest opportunities and offerings for your clients.

But it can sometimes be difficult to search for a condo in the same way you would for another property. Even if you know where a building is located, you might not be able to see as easily if there are any available units, or what is included with the unit.

That’s where GeoWarehouse comes in.

With GeoWarehouse, you can perform online condo searches quickly and easily.

You can search by street address, with a suite number or without a suite number, view a list of all condo units in the building, select by level to find condo units on any level, and more. You can also see if the condo includes a locker or parking.

Find detailed information such as overview, property details, condo details, site and structure information for the development, valuation and sales data for the unit, and plans and surveys for the site.

The report features a condo details section, which is unique to condo properties. This includes the condominium legal corporation legal and common name, the condominium declaration registration date, suite number, and related PINs where available.

Want to learn more about how to search for a condo using GeoWarehouse? Watch our training video:  https://vimeo.com/194399303 

GeoWarehouse offers in-depth data and reports for many types of properties. Become a subscriber today. Call 1-866-237-5937 or visit www.geowarehouse.ca.

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May 14, 2019

April: Eighth consecutive month without a rise in the composite index

In April the Teranet–National Bank National Composite House Price IndexTM was flat from the previous month.[1] Apart from the 2009 recession period, it was the first April in 21 years of index history in which home prices showed no rise. And the run of months with no rise in the composite index has now extended to eight straight, for a cumulative decline of 1.7%. Component indexes were down on the month for six of the 11 metropolitan markets surveyed – Winnipeg (−2.0%), Halifax (−1.1%), Vancouver (−0.4%), Quebec City (−0.4%), Calgary (−0.3%) and Montreal (−0.2%). Indexes were up on the month for Ottawa-Gatineau (0.9%), Hamilton (0.8%), Toronto (0.3%), Victoria (0.2%) and Edmonton (0.1%).

The downtrend of prices has been especially marked in Calgary – 10 consecutive months with no rise, for a cumulative fall of 4.0% – and in Vancouver – nine consecutive months for a cumulative fall of 4.7%. The index for Winnipeg declined in six of the last seven months for a cumulative slide of 4.2%. The April advances in Victoria and Hamilton followed six-month runs of no rise, for cumulative declines of 3.4% and 1.7% respectively since September. The index for Edmonton is down 3.1% from last August despite advances in the last two months. The Ottawa-Gatineau index has declined 1.6% since December. On the other hand, Toronto, the largest housing market, has moderated the countrywide downtrend by retreating only 0.3% since August, thanks to a 2.4% rise in condo prices offsetting a 1.6% decline in other types of housing.

Teranet-National Bank National Composite House Price Index™

In only four of the 11 markets has the weakness of recent months resulted in 12-month declines: Calgary (−3.1%), Vancouver (−2.8%), Winnipeg (−0.8%) and Edmonton (−0.1%). The 12-month change was positive for Victoria (0.7%), Halifax (1.2%), Quebec City (2.0%), Hamilton (3.3%), Toronto (3.3%), Montreal (5.1%) and Ottawa-Gatineau (6.2%). The 11-market composite index was up 1.2% from a year earlier.

Indexes exist for seven urban areas of the Golden Horseshoe other than the Toronto and Hamilton indexes included in the composite index. In April most of them were down from last August: Oshawa (−2.1%), Guelph (−2.0%), Brantford (−1.0%), St. Catharines (−0.9%) and Kitchener (−0.2%). Peterborough was flat over this period and the Barrie index edged up 0.2%.

Indexes not included in the composite index also exist for seven markets outside the Golden Horseshoe, five of them in Ontario and two in B.C. Since August four of them have trended down: Abbotsford-Mission (−5.3%), Kelowna (−3.8%), Sudbury (−3.4%) and Thunder Bay (−0.9%). Three have risen: Kingston (0.5%), London (3.8%) and Windsor (4.0%).

For the full report including historical data, please visit www.housepriceindex.ca.

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Open houses aren’t just for the physical world any more – have you considered using a digital open house?

Hosting online Open Houses using Facebook and Instagram Live is an excellent way to:

  • Enable more people to attend because it’s more convenient.
  • Interact in the chat thread and answer questions as a reference point for new people who join the feed.
  • Easily transmit documents, like your GeoWarehouse property report, in the thread or privately through direct messages if someone is interested in more information.
  • Transmit additional photos and information about the property and neighbourhood.
  • Link to things of interest.
  • And more!

An added bonus: with each digital open house and live event you promote and perform, you will add followers.

Facebook and Instagram Stories can also be useful methods for taking your open house online. These can be used a number of ways.

For instance:

  • You can include the live feed of the digital open house on your story and even pin it on your profile until the property is sold.
  • You can also use the Stories feature to post pictures of properties and ask a question or invite someone to ask you a question and then take the sale opportunity or use it to post the answers to the questions on your stories.

The possibilities of digital open houses are only just beginning! Have you hosted any yet?

In today’s real estate market, it pays to be innovative and use the best digital tools to get the job done and stay competitive. That’s where GeoWarehouse comes in.

With GeoWarehouse, access accurate, up-to-date property information at your fingertips. Learn more today by calling 1-866-237-5937 or visiting www.geowarehouse.ca.

 

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May 6, 2019

With major advances in technology, we’ve seen leaps and bounds of growth in the capacity of real estate tools – which is good news for anyone working in the industry!

Gone are the days of lengthy, paper-heavy trails (at least for some services). There are three tools in particular that you may not know you can access online…

  1. Property Surveys

Most buyers require a property survey – even if there is title insurance. Whether you are a real estate sales professional, developer, investor, surveyor, or appraiser, the ability to access property surveys can greatly expedite a closing.

Before asking the owner to have a survey performed, consider checking if one is available for purchase online. This is faster and often more affordable than the homeowner or buyer paying to have one performed.

  1. Condo Certificates

Some legal and real estate professionals still obtain condo certificates from the condo corporation by paying a fee and waiting 10 days. This process can be expedited online.

For instance, with the recent integration of GeoWarehouse and ShiftSuite’s Conduit property management system, status certificates can be ordered and fulfilled online from participating property management companies using your credit card. Now you can obtain condo status certificates without the hassle of couriers, car trips, and certified cheques.

  1. Lien Checks

While you can gain a lot of information through property data reports, if you want to dig deeper, enhanced searches in the GeoWarehouse store include Parcel Registers*, which reveal liens. This is particularly important because you can see if there is a registered encumbrance on a property you’re dealing with well ahead of time.

If you do find a lien and want to see the actual lien registration, you can also get the Instrument Image*.

Before the advancement of real estate technology, these processes (and more) would have been done offline and they would have taken up valuable time and money. Now they are quicker than ever and allow you to make more empowered decisions.

Access all of these tools in the GeoWarehouse Store. Become a subscriber today by calling 1-866-237-5937 or visiting www.geowarehouse.ca.

* An official product of the Ontario government pursuant to provincial land registration statutes.

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Congratulations to Teranet Inc., who took home the Centum Award for Industry Service Provider of the Year at the 2019 Canadian Mortgage Awards!

This award recognizes the mortgage industry service provider that that adds the most value to its customers’ businesses.

Teranet’s tools for real estate professionals include GeoWarehouse, which makes it effortless to obtain valuable information about a property, its sales history, comparable sales, neighbourhood demographics, and more.

Learn more about the recognition and the Canadian Mortgage Awards in the full press release: https://www.teranet.ca/teranet-news/teranet-inc-wins-the-centum-award-for-industry-service-provider-of-the-year-in-the-2019-canadian-mortgage-awards/

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