Archive for the 'GeoWarehouse' Category

November 23, 2018

The Canadian real estate market is in a state of fluctuation, which can make determining a listing price difficult to say the least.

Between rising interest rates, mortgage stress testing regulations, uncertain house prices, increased competition, and the like, there are many factors that might be affecting your usual process for determining property value.

That said, there are several practices that you can use to set a listing price no matter what is happening in the Canadian housing market. Here are our top picks.

  1. Assess the Property Details

This is step number one because it should be on your list regardless of market conditions. You need to understand the property details. For instance, what year was the home built? What data is included in the Land Registry?

In order to start thinking about your listing price, you need to know the answers to these questions and more.

  1. Get an AVM

You may have considered getting an appraisal done — this can be a great idea. But have you thought about an automated valuation model (AVM) report as well?

An AVM report can confirm home value, ownership, and other details quickly and efficiently. It can estimate property value by comparing and analyzing property characteristics against public record data.  It doesn’t replace an appraisal, but it is a good companion to one.

While an AVM can’t review interior and exterior property conditions, some include street view imagery that can help identify issues with exterior conditions, such as property boundary discrepancies. It’s great to leverage automation and historical data analysis to generate the latest information on pricing and ownership and create a big picture report.

  1. Consider the MPAC Assessment

MPAC is the largest assessment jurisdiction in North America. It determines revenue requirements, municipal tax rates, and property tax collection for the Government of Ontario.

An MPAC assessment isn’t always the same as a property appraisal, and often listing prices are different from MPAC’s valuation. That said, it is still valuable information that can be used in your determination.

  1. View the Sales History

Along with the property details, you will also want to consider the sales history. While today’s market may be very different from the last time this house sold (particularly if it is an older home), that data is still important to review.

  1. Look Up Comparable Sales

One of the best ways to determine home value is to see how comparable properties are selling. You can get a real-time view of what similar houses have sold for and use that to set your listing price.

You can also narrow your search by neighbourhood to specifically understand the area where you are selling. Certain regions will be more desirable based on factors like school proximity, parks, shopping areas, and the like. This will stay in style even with a market shift.

  1. Use a House Price Index

The Teranet-National Bank House Price Index is released every month with up-to-date information on house prices across Canada. This digs into 11 different markets and the house price trends those regions are experiencing.

This is important for you to know when making your assessment.

  1. Examine Market Insights

In a shifting real estate market, you want to stay on top of the latest real estate trends. For instance, if you know that condos are some of the most popular dwelling types for millennials, and you are trying to set a listing price for a condo in an area that appeals to millennials, that will help make your decision.

The Teranet Market Insights Report is released regularly and contains data that you can use for your property valuation needs.

While it may be simpler to set listing prices during non-turbulent housing market conditions, it’s still possible to do so in more uncertain times. Be sure to do your due diligence and assess information from multiple sources. Trends can change so fast that you need to stay on top of the data.

Luckily, GeoWarehouse makes it easy to stay informed up-to-the-minute. Our property reports take data from the Province of Ontario Land Registration Information System (POLARIS), so you can trust the reports you receive are accurate and timely. They are also available almost instantly, so you can make a decision with the latest figures.

Learn all about our GeoWarehouse reports today. Call 1-866-237-5937 or visit www.geowarehouse.ca.

Want more information on determining a listing price? Download our free eBook, Digital Property Evaluation in 1-2-3! Get your copy here: http://www2.geowarehouse.ca/property-evaluation-general/.

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NOVEMBER 15, 2018

Home price index down in October in all component markets except Montreal

In October the Teranet–National Bank National Composite House Price IndexTM was down 0.4% from the previous month.[1] An October decline is not the norm – this was only the fourth in 20 years of index history. It was also the first index decline in eight months. The most striking aspect of the retreat is its diffusion. For the first time since December 2014, the component indexes for 10 of the 11 metropolitan markets surveyed were down on the month – Victoria (−0.1%), Toronto (−0.2%), Winnipeg (−0.2%), Calgary (−0.3%), Ottawa-Gatineau (−0.4%), Hamilton (−0.5%), Edmonton (−0.7%), Vancouver (−0.8%), Quebec City (−1.0%) and Halifax (−1.0%). The exception was Montreal, whose seventh consecutive monthly gain (+0.2%) was consistent with its seller’s-market conditions. For Calgary it was the 10th month without a rise in the last 13 months, hardly surprising considering the worsening of market conditions over the period. For Vancouver it was the third consecutive month without a rise.

Teranet-National Bank National Composite House Price Index™

In October the composite index was up 2.8% from a year earlier, a larger 12-month rise than in August and September because a year earlier the index fell abruptly in those two months. October 12-month rises were well above the countrywide average in Victoria (5.2%) and Vancouver (4.6%) thanks to gains earlier this year and in Montreal (5.0%) and Ottawa-Gatineau (5.0%) thanks to gains in the last six months. Indexes were also up from a year earlier in Winnipeg (3.4%), Hamilton (2.8%), Halifax (2.4%) and Toronto (1.9%). Indexes were down from a year earlier in Edmonton (−0.5%), Quebec City (−0.6%) and Calgary (−1.4%).

Besides the Toronto and Hamilton indexes included in the composite index, indexes exist for sevenother urban areas of the Golden Horseshoe. In October, all of these were down from the previous month. Two of them, Barrie and Oshawa, were, like Toronto and Hamilton, below their peaks of Q3 2017. 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. In October. Three of these were down from the previous month. The 12-month rise of these indexes varied widely, from -0.1% in Thunder Bay to 11.4% in Windsor.

Of the 25 metropolitan-market indexes, only five did not decrease in October, the smallest diffusion of gains since December 2012.

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

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October 2, 2018

Happy Thanksgiving weekend from all of us at GeoWarehouse!

This year we are thankful for being able to live and work in this beautiful country and getting to engage with all of our wonderful clients.

We hope you spend the holiday with family and friends. What are you thankful for?

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Happy Canada Day from GeoWarehouse

Author: GeoWarehouse
June 26, 2018

Happy Canada Day from our team at GeoWarehouse.

Today, on Canada’s 151st birthday, we are taking time to appreciate our nation’s legacy, history, diversity, and incredible community.

Each and every day, we feel grateful to live and work in Canada.

Enjoy the day spent with family, friends, and loved ones.

 

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Expands Financial Solutions Business, Including Canadian Lien Searches

Teranet Inc. announced this week that its affiliated entity, CM Solutions Inc., entered into a definitive agreement with D+H Corporation to acquire D+H Collateral Management Corporation, a division of Finastra Holdings Inc.

D+H Collateral Management is a market leader in Canadian lien searches, lien registrations, asset recovery services, and insolvency management.

The agreement will significantly extend Teranet’s financial services business across Canada, including for those who need to mitigate real estate risk.

Learn more about the agreement here.

GeoWarehouse has tools that make you the expert in mitigating real estate risk and more. Find out about our solutions today at www.geowarehouse.ca.

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April 19, 2018

Our GeoWarehouse® Solution will be down from Friday, April 20 at 10:00 p.m. until Saturday, April 21 at 2:00 a.m.

During this maintenance window, you will not be able to login to our online solution or make purchases through the e-store.

We apologize for any inconvenience this maintenance might cause you.

If you have further questions, or need assistance, please do not hesitate to call us at 416.360.7542 or 1.866.237.5937 or email us at GeoWarehouseFeedback@teranet.ca.

 

 

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February 27, 2018

Our GeoWarehouse® Solution will be down from Friday, March 2 at 7 p.m. until Saturday, March 3 at 2 a.m.

During this maintenance window, you will not be able to login to our online solution or make purchases through the e-store.

We apologize for any inconvenience this maintenance might cause you.

If you have further questions, or need assistance, please do not hesitate to call us at 416.360.7542 or 1.866.237.5937 or email us at GeoWarehouseFeedback@teranet.ca.

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Happy Holidays from GeoWarehouse

Author: GeoWarehouse
December 20, 2017

Happy Holidays from all of us at GeoWarehouse!

We wish you and your family peace, love, and joy this holiday season and a prosperous new year.

See you in 2018!

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November 22, 2017

Please note, due to system maintenance, we will experience a service interruption affecting our Title products during this period:

Friday November 24th 9:00 PM to Saturday November 25th 8:00 AM

You will experience the following:

  • Inability to view or purchase Parcel Registers, Plan Images and/or Instrument Images in the GeoWarehouse Store.
  • Searching Instruments/Plans in the new GeoWarehouse will not yield any results.

If you have any questions please call us at 416.360.7542 or 1.866.237.5937 or email us at GeoWarehouseFeedback@teranet.ca.

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Happy National Real Estate Day!

Author: GeoWarehouse
May 17, 2017

We want to wish homeowners across the nation a very happy National Real Estate Day!

You’ve worked hard to get into your dream home.

So congrats on getting to where you are!

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