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09/09/2022
Construction of the new Réseau Express Métropolitain, or R.E.M., is currently underway. This metro system will span the greater Montreal area and will give people living outside the city much easier a...
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Construction of the new Réseau Express Métropolitain, or R.E.M., is currently underway. This metro system will span the greater Montreal area and will give people living outside the city much easier access to downtown. What a lot of people are asking me is: I live near one of the future stations, will this positively impact the value of my property? The short answer is yes! We’ve already been seeing it contributing as a factor in the valuation of people’s homes and advertised as a highlight for a few years now. Once people are able to start using it and seeing just how easily accessible downtown is, I think there will be an even bigger effect on the gains of your property. Being close to public transportation is always a winning factor, and I think the R.E.M. will have a huge impact on the value of properties all over the greater Montreal area. What are your thoughts on the R.E.M.’s effect on property value? Let me know in the comments below!
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02/09/2022
This week I will be discussing a topic that is important to landlords and tenants alike: tenant insurance. It is prudent for tenants to take out an insurance policy to cover $2 million civil liability...
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This week I will be discussing a topic that is important to landlords and tenants alike: tenant insurance. It is prudent for tenants to take out an insurance policy to cover $2 million civil liability & their contents. This way should anything happen to the unit, such as flood or fire, insurance will cover the cost of them staying elsewhere and they will be protected financially. For the landlords, when your tenants have insurance it actually makes your own insurance policy cheaper. I have seen a situation with tenants who weren’t covered and it ended with them losing everything. Ever since then, I have made it a requirement for all my tenants to get insurance. That way we all have peace of mind knowing that all parties will be protected should anything happen. Do you require tenants to have insurance when they’re renting your properties? Let me know in the comments below!
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26/08/2022
This week I’ll be discussing a segment of the market that is currently on the rise: the rental market. With the recent increases in interest rates, some buyers are getting qualified at lower prices th...
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This week I’ll be discussing a segment of the market that is currently on the rise: the rental market. With the recent increases in interest rates, some buyers are getting qualified at lower prices than they previously were. If they were looking at a $500,000 home last year, a $400,000 home that they are currently qualified for might not meet their standards and criteria. Some of these buyers are pivoting to rentals until the interest rates stabilize a little bit more. That being said, the demand for rentals is going to go up. The thing is, the supply of rentals has not increased. This is a time for landlords to stay on top of their rental increases and stay firm on their prices. The rental market has bounced back and become very strong, so now is the time to capitalize. If you’re looking for advice on prices and increases for your rental units in Montreal, reach out to us today!
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19/08/2022
My Thoughts on the Forecast for Canada's Housing Market
This week I’ll be discussing an article that was backed by RBC Research about a forecast on the Canadian housing market. It has been sending pe...
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My Thoughts on the Forecast for Canada's Housing Market This week I’ll be discussing an article that was backed by RBC Research about a forecast on the Canadian housing market. It has been sending people into a bit of tailspin because it predicted a price decrease of 15%-20%. Now, I do not believe there is any reason to panic because this prediction is on a national level. The markets that really move real estate in Canada are the major ones, such as Vancouver and Toronto, and these are the markets that will feel a shift before Montreal does. We may see a correction of 5%-10% here, which may bring us back to January 2022 prices. When someone buys a property, I tell them to plan to stay there for at lease 5 years to really be in the money. So even if there is a correction, things will bounce back over a couple of years and your investment will be fine. What are your thoughts on this forecast? Let me know in the comments below!
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05/08/2022
This week I will be discussing a topic that has fallen by the wayside a little bit in the past couple of years: location, location, location! When the market was fast and furious, the criteria of loca...
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This week I will be discussing a topic that has fallen by the wayside a little bit in the past couple of years: location, location, location! When the market was fast and furious, the criteria of location became secondary to a lot of buyers and some compromises were being made. Now that the market is more balanced, buyers are going back to being more selective about what an area has to offer and really making it a priority in their property search. That being said, location will absolutely affect the value of your property. Is the home close to where they work? Are there good schools in the area? What kind of public services are available to residents? Are you close to the highway? Underneath a flight path? All kinds of factors will add and subtract to the potential value of your property. What is essential to you when considering the location of your home? Let me know in the comments below!
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29/07/2022
This week I will be discussing an important property document: the certificate of location. This document can tell you important information about a property, such as the official dimensions, the prop...
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This week I will be discussing an important property document: the certificate of location. This document can tell you important information about a property, such as the official dimensions, the property limits, any encroachments, servitudes, and any other important information about it. When selling your property, it is important to have an up-to-date certificate of location, meaning one that is under 10 years old as they become invalid after that amount of time. Should you change anything on your property, such as building a deck or removing a pool, you would need to get a new certificate drawn up in this situation as well. But be sure to only do this when you are ready to sell so that it doesn’t expire; don’t do it immediately after the change if you’re looking to stay! Do you have any questions about the certificate of location? Reach out to us today!
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22/07/2022
This week I will be discussing some good reasons to get a pre-sale inspection. When thinking of selling your property, it can be prudent to do an inspection prior to hitting the market. Understanding ...
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This week I will be discussing some good reasons to get a pre-sale inspection. When thinking of selling your property, it can be prudent to do an inspection prior to hitting the market. Understanding existing issues before entering negotiations gives you a lot more power in the transaction. You will have knowledge of the current state of your property and the opportunity to fix issues that may scare away a potential buyer. You will find out important things to note that you weren’t even aware were there. By having the property inspected and being aware of any potential problems, you can also give yourself more negotiating power. As a team, we always suggest strategies to protect you as a seller, and the pre-sale inspection does a great job of this. If you’re ready to list your property with some peace of mind, reach out to us today!
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15/07/2022
This week I will be discussing something that has recently come into effect for real estate brokers and buyers alike: a mandatory brokerage contract to purchase. The BCP has always existed, but it is ...
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This week I will be discussing something that has recently come into effect for real estate brokers and buyers alike: a mandatory brokerage contract to purchase. The BCP has always existed, but it is now a requirement set forth by our governing board. Previously, we had worked under a verbal contract that I, as an agent, would do my utmost to get the best deal for you as a buyer. Without a signed BCP, a broker could still write an offer for you but technically is not contractually obligated to guide you and go out of their way to get you the best price possible. By singing a BCP, you are ensuring that the broker you are working with will be able to go above and beyond for you. At LJ Realties, we have always prided ourselves on providing the best service to our buyers, and will continue to do so under the new BCP regulations. Reach out to us today!
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08/07/2022
This quarter, the real estate market has definitely changed. We have shifted from a very strong seller’s market to a buyer’s market. Due to the rise in the interest rates, some buyers have become a l...
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This quarter, the real estate market has definitely changed. We have shifted from a very strong seller’s market to a buyer’s market. Due to the rise in the interest rates, some buyers have become a little wary and have taken a step back, all while properties are still hitting the market. Now the the supply is outweighing the demand and properties are spending more days on market, buyers are presented with an opportunity: time and the ability to negotiate. We’ve been seeing less multiple-offer situations, the average number of days on market is rising, and buyers won’t miss out on a house if they happen to be away for a weekend. This is the time where listing brokers are going to focus on really selling a property, and doing all they can to make sure it gets the exposure it needs to sell. At LJ Realties, we have strong listing techniques and incredible marketing systems in place to ensure that our clients’ properties will sell, nom matter what the market situation is. Wether you are a buyer or a seller this quarter, reach out to us today!
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01/07/2022
This week I’ll be discussing a topic that is at the forefront of everyones mind and newsfeed: interest rates. There has been a significant increase, and it has been causing concern and leading people ...
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This week I’ll be discussing a topic that is at the forefront of everyones mind and newsfeed: interest rates. There has been a significant increase, and it has been causing concern and leading people to believe that there will be a “crash”. I do not believe this will be the case. The increase will simply cause the market to shift, and that presents buyers with an opportunity. We will be seeing less of paying $100,000 over asking price for a property, you can see the property more than once, and there is now room for negotiation because there is less demand. The current 5 year fixed rate is at about 5% and you could probably get a variable interest rate of about 3.2%. Because I believe that the interest rate will slowly go back down in the next 6-12 months, I would suggest going for a variable rate. We make sure to stay informed on the changes, so if you have any questions reach out to us today!
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24/06/2022
This week I will be talking about financial literacy. This term covers a broad spectrum of understanding your finances, but what I’d really like to focus on is how much you’re making versus how much y...
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This week I will be talking about financial literacy. This term covers a broad spectrum of understanding your finances, but what I’d really like to focus on is how much you’re making versus how much you’re actually keeping. It’s great to say that you made a million dollars last year, but how much did you keep? A book that I like to reference is called “Profit First” and it really dives into the idea of paying yourself first by taking out your profits and working backwards from that to make sure you’re running a profitable business. What are your expenses compared to what you’re bringing in? What are you keeping after taxes? Are you working with a profit margin that is comfortable for you? These are important questions and the answers will bring you closer to financial literacy and eventually to financial freedom!
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17/06/2022
Are You Still Playing Safe With Your Money?
This week I’ll be discussing the way that you’re strategizing your investments. Markets, real estate or otherwise, can make some people uneasy. This causes...
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Are You Still Playing Safe With Your Money? This week I’ll be discussing the way that you’re strategizing your investments. Markets, real estate or otherwise, can make some people uneasy. This causes some people to sit on the sidelines or play it too safe. When you’re young, you have your whole life ahead of you and that makes it the perfect time to take risks. With time on your side, you can easily recover from losses, and start compounding things to yield better results. I’ve seen many people sit on the sidelines of real estate, waiting for the perfect opportunity, and never making any moves. Then there are those that put in the work, took the risks early on, and are now enjoying their portfolios. When it comes to real estate investments, we are here to help you with your due diligence: weighing the facts, and making sure it makes sense. Don’t let fear stop you from taking that risk and getting in the game, reach out to us today!
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10/06/2022
This week I'm joined by Francesca Sgambetterra, and she's here to help you maximize your rental property. Presumably as a landlord, your goal is to have supplemental income by owning a rental property...
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This week I'm joined by Francesca Sgambetterra, and she's here to help you maximize your rental property. Presumably as a landlord, your goal is to have supplemental income by owning a rental property. One of the most important ways to ensure this happens is by keeping up with your yearly rental increases. Keeping your rents aligned with inflation and market value allows you to stay in the money, and makes it much easier to resell the building when the time comes. When it comes to calculating what you are allowed to increase the rent by, you can simply go to the Tribunal Administratif du Logement’s website for a calculator that takes your operating and any renovation expenses into account to calculate the increase. We have extensive property management experience so if you need help maximizing your rental property, reach out to us today!
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03/06/2022
Real Estate Taxes: Everything You Need to Know
This week I’ll be discussing the different kind of taxation in real estate. One thing is certain: we will always be taxed. When you are purchasing a new...
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Real Estate Taxes: Everything You Need to Know This week I’ll be discussing the different kind of taxation in real estate. One thing is certain: we will always be taxed. When you are purchasing a newly constructed property, you will be paying the PST and GST just like you would with a purchase in a store. Investment properties present different tax scenarios because they yield an income for you. And with any property you own, you will always pay municipal and school taxes to the city and school board. In any case, you should always consult your accountant to be sure of what kind of taxation you’ll be exposed to with your property. We make it a point to stay up to date and help you understand the basics, so if you have any questions reach out to us today!
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27/05/2022
This week I will be discussing the next book that we read in our LJ realties book club: Rich Dad Poor Dad by Robert Kiyosaki. This was another great read, especially for those who are looking to expan...
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This week I will be discussing the next book that we read in our LJ realties book club: Rich Dad Poor Dad by Robert Kiyosaki. This was another great read, especially for those who are looking to expand their financial literacy. Robert compares and contrasts two version of a father figure to illustrate important lessons and skills for success. There are a lot of really valuable takeaways and the main ones I’ve picked out are: use your knowledge in exchange for money instead your time, surround yourself with the smartest people you can, and not to avoid risks. Another key point that is discussed is our mentality. People with a negative mentality will not make it far and give you reasons not to do something. Learn to tune that out and invest in yourself so that you can always be levelling up. Did any of Robert’s lessons resonate with you? Let me know in the comments below!
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20/05/2022
This week I’ll be discussing what’s being going on for the rental market in Montreal. Where real estate is concerned, the rental market took the biggest hit during COVID. With schools and offices adop...
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This week I’ll be discussing what’s being going on for the rental market in Montreal. Where real estate is concerned, the rental market took the biggest hit during COVID. With schools and offices adopting a learn/work from home model and no foreign students or workers coming into the city, landlords had to lower prices and offer free months as incentive to get people through their doors. Post-pandemic, we are seeing a huge uptick in the demand for rentals and prices have returned to normal. People want to be in the city again to be close to work, school, or just the action with restrictions lifting and everything opening up. With July 1st coming up fast, everyone is getting ready to move. Check out our website for all of our rental listings that might fit your criteria and reach to us today!
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13/05/2022
This week I’m here for a market update for Q1. Across the Island of Montreal, sales are up! Even with less active listings and therefore less sales, the prices are still on the rise. The condo market,...
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This week I’m here for a market update for Q1. Across the Island of Montreal, sales are up! Even with less active listings and therefore less sales, the prices are still on the rise. The condo market, which took the biggest hit during COVID, is up by 11%. Single-family homes are up by 5% and multiplexes up by 9% If you look to North & South shores, condos and homes are up by an average of 20%. Q1 was still very much a seller’s market because the demand is still outweighing the supply. While it is still tough for buyers in the current market, we continue to successfully help our clients purchase their dream properties, so reach out to us today!
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06/05/2022
This week I’ll be discussing the common questions I get about down payments when purchasing property. It’s usually: what is the minimum? Which is easy: 5% if you plan on occupying the property, 20% fo...
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This week I’ll be discussing the common questions I get about down payments when purchasing property. It’s usually: what is the minimum? Which is easy: 5% if you plan on occupying the property, 20% for an investment. The next question is: how much should I put down? The answer really depends on you! What is your financial situation? What are you willing to pay monthly? At the end of the day, wether you put down 5% or 20%, your property is going to appreciate the same amount. We are here to help our buyers make the best decisions for themselves when it comes to purchasing property, so reach out to us today!
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29/04/2022
This week I am going to discuss the question: do you need to sell your home in order to buy a new property? And as everyone’s situation is different, there are different scenarios that might apply to ...
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This week I am going to discuss the question: do you need to sell your home in order to buy a new property? And as everyone’s situation is different, there are different scenarios that might apply to you. Some buyers will be required by the bank to sell their home in order to have the purchasing power, and some might not. In both of these cases, we have developed strategies that have been successful for our clients. The trick is to always give yourself enough time to find a new property that you really love. It’s also important to understand that the market can change at any time. So if you have a sale price in mind for your home, you have to know that waiting to sell might yield very different results. If you find that you’re unsure of what to do in your own sell-and-buy situation, reach out to us today!
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22/04/2022
This week I’ll be discussing a book that we recently read as a team: “The Subtle Art of Not Giving A…” by Mark Manson. If you don’t mind a bit of strong language, there are so many valuable takeaways ...
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This week I’ll be discussing a book that we recently read as a team: “The Subtle Art of Not Giving A…” by Mark Manson. If you don’t mind a bit of strong language, there are so many valuable takeaways from this book. What really resonated with my team and I was that we need to audit our core values and really figure out what matters to us as individuals. You don’t need to worry about what other people are thinking of you because in reality, they aren’t! This book encourages you to live an honest and purposely fulfilled life by directing your energy to what actually matters. If you haven’t already read, I highly recommend you do. For anyone who has read it, what were your biggest takeaways? Let me in the comments below!
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15/04/2022
This week I’m going to be listing the many advantages to listing your property for sale with a real estate broker. When choosing to work with a broker, you are really giving yourself a leg up because ...
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This week I’m going to be listing the many advantages to listing your property for sale with a real estate broker. When choosing to work with a broker, you are really giving yourself a leg up because you are choosing to have someone represent you and your interests throughout what can sometimes be a complicated process. At LJ realties, we pride ourselves on being there for our clients every step of the way throughout a transaction. From starting with a strong listing strategy & marketing, informing ourselves on your property and its surroundings, negotiating to ensure you get the best sale price possible, and helping you fulfill any conditions of the sale. When we assist you in a sale, you are our #1 priority! What are your good experiences with your listing broker? Let me know in the comments below!
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08/04/2022
This week, I’m here with an update on the current interest rates. Fixed, variable and prime are still on the rise, as was to be expected and I predict they will continue to increase. The real estate m...
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This week, I’m here with an update on the current interest rates. Fixed, variable and prime are still on the rise, as was to be expected and I predict they will continue to increase. The real estate market is still moving fast and furiously, even though the government is trying to step in with these increases. The hope was that with an increase in rates, the market would cool. However, this has not happened and I predict that we won’t see things slow down until 2023. My team and I make it a priority to stay in the know by speaking regularly with our trusted network of professionals. We want to ensure that we are armed with up-to-date numbers to help our clients make informed decisions when it comes to the current market. We are here to help you navigate it, so reach out to us today!
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01/04/2022
This week I’ll be discussing the steps that go into buying a home. It can seem like a daunting process, but the general breakdown is quite simple. Last week, I discussed the pre-approval which should ...
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This week I’ll be discussing the steps that go into buying a home. It can seem like a daunting process, but the general breakdown is quite simple. Last week, I discussed the pre-approval which should always be your first step in the buying process. The second step is to consult with a real estate broker. Not only will they be able to assist you in tailoring a property search, but they will also be involved in all the other steps. Your broker will schedule visits, draft offers, and be there with you every step of the way through negotiations and realizing conditions of the sale. It’s important to work with a broker who you trust to properly represent your best interests when purchasing a home. We have a roster of experienced brokers who are ready to help you. Reach out for a buyer’s consultation today!
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25/03/2022
This week I’ll be discussing a very important document when it comes to purchasing real estate: the pre-approval. This is a document that you obtain from a bank that proves your capacity as a buyer by...
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This week I’ll be discussing a very important document when it comes to purchasing real estate: the pre-approval. This is a document that you obtain from a bank that proves your capacity as a buyer by presenting what your debt capacity is. In the current market, it is very difficult to have you offer considered if you don’t submit your pre-approval along with it. Depending on wether you are an employee or self-employed, they will asses different information such as your earnings, your notice of assessments, recent pay stubs, your credit history, and any other pertinent information on what makes you a good candidate for a loan. The pre-approval should be your first step when preparing to buy a property. If you’re ready to start the process of purchasing real estate, reach out to us today and we can put you in touch with the right people to get pre-approved!
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