Archive for the 'GeoWarehouse' Category

February 19, 2019

Has a lack of property survey ever delayed your deal from closing? If so, you’re not alone.

A property survey can be immensely important — even more important than the deed, say some.

While not all lenders require property surveys, if you are dealing with one who does you know that it’s necessary. But what can you do if you don’t have, or can’t find, a survey?

The long answer might be to arrange for a new surveyor to come out, but this can get expensive and time-consuming — especially when you are waiting on a deal to go through and the survey is the last piece you need.

The short answer is simple: access it online!

GeoWarehouse has existing historical surveys available online in our e-store. If a survey for the property in question is available, you’ll be able to obtain it at the click of a button for much less than it would cost to get a new one.

Even if your lender doesn’t require a survey for the deal to close, it’s still a good idea to see if a historical copy exists.

According to the Toronto Star, a 2015 study by the surveyors at Protect Your Boundaries showed that of 1.2 million freehold residential properties in the GTA, an estimated 49% have significant boundary issues, most of which would not be covered by title insurance since they involve fences, hedges, and retaining walls.

Plus, if an issue comes up at the last minute, you’ll want to be prepared. The same Toronto Star article references a vendor who owned a house on the wrong side of a street, and one who owned the wrong half of a semi-detached house.

These may seem like extreme cases, but it is often better to be safe than sorry — particularly when it comes to closing a deal.

Obtaining a property survey can just be good due diligence. And accessing it online makes it so easy to do that you’ll want to make it part of your regular process.

Access your property surveys today through the GeoWarehouse e-store. If you don’t have an account, call us at 1-866-237-5937 or visit www.geowarehouse.ca.

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February 11, 2019

Valentine’s Day is almost here, the most romantic time of year — using you’re flying solo. If you’re alone, there’s no need to feel sad. Why not take your date in a different direction — say, to the office?

It’s possible that your love of real estate has been dwindling lately. With tougher market conditions, colder weather, and higher home prices, you may have lost the spark you once felt. This Valentine’s Day it’s time to bring back that loving feeling once and for all.

Instead of wining and dining your significant other, why not wine and dine yourself and jumpstart your business at the same time?

Here are the oh-so-romantic ideas you won’t want to miss:

  1. Set up an open house for singles.

Chances are high that you’re not the only one spending this Valentine’s Day alone. So how about making the most of it? If you have an available property on the market, schedule an open house for February 14 and advertise it as a singles mixer. Break out the champagne and chocolates, put on some feel-good music, and perhaps even set up a dance floor or a movie.

You could spark a love connection or make the sale!

  1. Play matchmaker with clients.

The real estate agent who pairs up the single mom and single dad living two blocks away from each other sounds like the romantic comedy of our dreams. But that’s not all that we’re talking about here. (Although if you have done this, please, let us know. We’ll help sell the rights to Hollywood!)

Today’s housing market is shifting, and more people are opting for buying homes together in the non-traditional sense. Take for example these two friends who bought a home in Niagara Falls, or these real-life Golden Girls.

Do you have a few clients who want to break into the housing market but just aren’t sure how they can afford it? You could be their real estate cupid!

  1. Have a “no bad ideas” brainstorming session.

Being a real estate sales professional is a busy job that involves a lot of nitty-gritty details. While those are necessary, they can sometimes suck the fun out of work.

Take the night to remember why you fell in love with real estate in the first place. Pour a glass of wine or sparkling water, light a candle, and make a list of your most creative ideas for revitalizing your business. Give yourself a number to hit — say between 20 to 50 — and don’t stop until you’ve filled out your list. No ideas are off limits; the wackier and kookier, the better.

Steve Jobs used to have his staff brainstorm 100 ideas and then narrow the list down to three. It’s how Apple developed so many great products. You can do the same!

  1. Remind yourself of past loves.

No need to walk down the ex memory lane. That’s not what we’re getting at here.

Instead, open up your old reviews and testimonials to remind yourself of past successes and happy clients. If you haven’t started an “I’m the best” folder yet (where you save all emails, notes, clippings, etc. from people complimenting you) take the time to build one now.

  1. Look for divorce leads.

Valentine’s Day is viewed as the most romantic day of the year but it’s also statistically one of the days with the highest rate of breakups. Couples getting divorces are highly motivated to sell for obvious reasons… Start thinking about a marketing campaign now and set the wheels in motion.

Admittedly this idea isn’t quite as romantic as the others on our list, but you’ll be feeling the love if it results in a sale so we’re calling it even.

  1. Find someone new.

You know those relationships where you give and give and give, but no matter how much you put into it you always end up… disappointed? This can happen with real estate, too!

If you’ve been putting the majority of your effort into single-family homes, for example, but are finding that the market is dwindling, it may be time to get a wandering eye — only unlike a real relationship, you won’t be breaking any hearts by exploring your options.

There are a lot of great new prospects on the market these days. Condos, multi-family units, even commercial spaces. Look at your listing opportunities with an open mind and an open heart. What areas are calling to you?

If you want to get scientific about it (online dating algorithms have nothing on you) you can access property data to really understand the potential opportunities in your area.

Need a date for Valentine’s Day? GeoWarehouse is happy to be your plus one. Contact us to learn more about our property insight data today. Call 1-866-237-5937 or visit www.geowarehouse.ca. We also won’t say no to a flower delivery 😉

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Real estate professionals, the Teranet Market Insights Forum on February 12, 2019 is almost full. Don’t miss your chance to attend and receive exclusive insights into the Canadian housing market.

Details:
Tuesday, February 12, 2019
8:30 a.m. to 11:30 a.m.
MaRS Discovery District
101 College Street, Toronto, Ontario

Speakers

Stéfane Marion
Chief Economist and Strategist at National Bank

Stéfane Marion is Chief Economist and Strategist for National Bank of Canada and National Bank Financial, a position he has held since November 2008. Mr. Marion is a sought-after speaker on economic trends and their financial implications and is ranked among the leading economists in Canada, according to Brendan Wood International.

National Bank Financial’s Economics and Strategy team is regularly ranked among the top Canadian forecasters and has won recognition for the accuracy of its projections.

In 2012, the C.D. Howe Institute appointed Mr. Marion to its Monetary Policy Council and to the newly established Business Cycle Council. He also sits on the National Bank Pension Committee.

Mr. Marion joined NBF’s Economic Group in 1999. Previously Mr. Marion worked for several years in the federal departments of Finance and Industry in Ottawa, where, in addition to economic analysis and forecasting, he also worked on microeconomic policy impact studies. In particular, he participated in the development of forecasting models and the analysis of the FTA and NAFTA free-trade agreements with the United States and Mexico.

Mr. Marion holds a bachelor’s degree and a master’s degree in economics from the Université de Montréal.

Roger Vandomme
Chief Data Scientist at SMC

Roger’s career has been built on the fundamentals of data analysis, predictive modeling and related decision-making. With 20 years in the credit bureau industry, creating credit scores all around the world, Roger has an outstanding unmatched skill-set in the field of predictive modeling. He has completed numerous studies and research on decision heuristics and biases, developing reasoning methods and processes around systemic design and game theory.

Roger created and manages a decision science boutique, SMC, that helps companies and institutions to optimize their strategic decision-making process through the application of mathematical models, machine learning, and artificial intelligence.

Roger teaches business analytics and machine learning at University of Toronto, as well as operational planning at the Canadian Forces College.

Roger holds a master’s degree in applied mathematics from Paris University, an MBA from Queen’s University, and a Master in Defense Studies with the Royal Military College.

Mark Huttram
Director of Business Development and Marketing at Teranet

Mr. Huttram will reveal exclusive market insights and updates from Teranet.

Don’t miss this opportunity. Register for the February 12, 2019 Market Insights Forum here: http://ci23.actonsoftware.com/acton/media/2216/teranets-market-insight-forum

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January 28, 2019

Last year in 2018 we saw many changes to the Canadian housing market. Now that 2019 is here, what will this year bring?

We’re breaking down real estate predictions for the year ahead. Here’s what’s on our radar:

1. Interest Rate Increases

In 2018, we saw Canadian interest rates rise from 1% to 1.75% and more hikes are on the horizon for 2019. Economists speculate we may see interest rates reach 2.25% by 2020.

This may seem small, but it could have a big impact on Canadian household debt. It may change what kinds of houses Canadians are able to afford and how well they can keep up with expenses, like utility payments.

2. Housing Prices

Overall, in 2018, house prices in Canada rose at a slow rate — the slowest since 2009 in some months. The Teranet-National Bank House Price Index has captured all of the data from the past year. Toronto and Vancouver have struggled, but other markets, like Montreal and Ottawa-Gatineau, have recorded larger increases over the past few months.

In 2019, we may see more stabilization, but it will likely take more time before we return to where we were.

3. Dwelling Shifts

With increased interest rates and mortgage stress tests, homebuyers are gravitating towards different dwelling types — in particular condos and multi-family units. Supply for single-family residential homes is tight in major cities.

This may mean that multi-family units continue to rise in popularity. It could also mean that more families seek out different areas to reside in — for example, opting for an affordable small town instead of a bigger urban centre.

4. More Affordable Housing

In 2018, the Ontario Real Estate Association (OREA) joined forces with other agencies to lobby the provincial government for more affordable housing options for millennials. Particularly in Toronto, OREA has said there is a housing crisis.

This conversation is taking place across the country about how to create more affordable housing, especially with home prices on the rise. We expect these talks will continue into 2019.

5. Insurance Premiums May Rise

As of January 1, 2019, new MICAT (mortgage insurer capital adequacy test) guidelines are in effect, which could see default insurance premiums rise.

6. Technology

Digital transformation has been a buzzword for a while, but in 2019 we are entering a new age of real estate technology. On the residential front, this will look like more smart devices in homes — such as voice technology using Amazon’s Alexa or the Google Home

systems. Home buyers may also want to control lighting and other utilities from mobile devices and the like.

On the real estate sales front, more technology also amounts to more opportunities for sales professionals. We may see a surge in paperless real estate, or more automation being included in property evaluation, like aerial imagery from drones or viewing a home through virtual reality (VR).

No matter what changes affect the real estate market in 2019, GeoWarehouse can help you adapt. Our tools are accurate, up-to-date, and easy to access, meaning you’ll be able to stay agile and competitive.

Learn more by calling 1-866-237-5937 or visit www.geowarehouse.ca.

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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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