I believe that relationships are more important than transactions I started a career in real estate in 2006, and since that time I have built a Regina real estate business around that philosophy. My goal is a personalized one-on-one service to fully understand you, and your real estate goals and to be 100% accountable to you. In my latest blog post, I share advice for folks considering investing in revenue properties in Regina, with a view to becoming a landlord. 

Things you need to know before you become a landlord.

If you’re looking to become a landlord investing in Regina real estate is a solid way to generate passive income! However, before you invest in Regina revenue property, it’s wise to know if you’re getting a good deal.

Here are some tips to consider when buying an investment property in Regina. 

1. Buy the right Regina property that is sure to rent easily.

- Select Your Target Regina Neighbourhoods Carefully - remember this is not where YOU are going to live

Consider the following before you invest:

• Is it a safe neighbourhood? ( Check out Regina Police Crime Map ) 

• What amenities are found locally

• What is the rental vacancy rate in that neighbourhood?

• How close are you to local shops, parks or recreational facilities? 

• How far away are you from the bus stop or transportation hub?

• If you are considering buying property suitable for a family are you close to schools? 

You may want to consider duplexes for the peace of mind they bring. With duplexes, you have two units, so if you go for a while without a tenant, it’s usually just one apartment, not both, so you still have some revenue coming in. As an experienced Regina realtor, I can provide a lot of support in your search! 

2. Treat your rental like a business

You can make good money being a landlord, through both monthly cash flow and appreciation on your property. But it’s not like buying a mutual fund. You need to be ready to handle the types of struggles you’d face with any business. You must have a budget for emergency fixes for example! 

Know your rights as a landlord in Regina! 
 

3. Be sure to properly screen potential tenants 

We’ve all read stories of nightmare tenants who generate endless noise complaints, damage property and even stop paying rent. To protect yourself, I recommend credit checks (available through agencies like Equifax and TransUnion) and asking for references from employers and past landlords. I  also recommend matching landlord references to the credit check, which shows past addresses, to ensure the applicant is being truthful. Once you’ve found great tenants, you’ll want to hold on to them for as long as possible.

4. Check your insurance coverage

If you’re renting an apartment within your home, your existing home insurance policy could be enough coverage. But if you’re renting a building that you don’t live in, you’ll need to look into additional insurance While it’s not legal to require your tenants to purchase insurance, it’s important they know that they’re not covered by your policy. It’s a good practice to recommend they take out their own tenant insurance policy so their personal property is covered. 

5. If you aren't handy or good at DIY - find folks you can trust that are! 

You can save even more time by making sure you’re set up for success from day one. Build a network of professionals — electricians, plumbers, handypeople This way you can handle most routine problems, like a leaky faucet, with a simple phone call.
 

Have questions about buying revenue properties?
Contact me today, I am here to help!  

• Read More Reviews From James's Clients Here 

• SELL Your Home With James Wruth. 

• See The Regina Real Estate Market Trends

• Search For A Home On James' Website 

If you are looking for a Regina Realtor who works tirelessly on your behalf and always offers honest and candid advice, I will be an expert at your side. 

 
Source article : https://www.maxrealestateexposure.com/how-sell-house-relative-dies/ 

I believe that relationships are more important than transactions I started a career in real estate in 2006, and since that time I have built a Regina real estate business around that philosophy. My goal is a personalized one-on-one service to fully understand you, and your real estate goals and to be 100% accountable to you. In my latest blog post, I share tips and tricks to help sell your home in Regina! 

GETTING THE BEST PRICE FOR YOUR REGINA PROPERTY

Hiring a Regina realtor who knows how to use the psychology of sales can really pay off. Choose an experienced real estate agent who understands how to use the art of negotiation, who can salvage a potentially sour deal, apply pressure and use other successful strategies to increase your sale price.  

1. ESTABLISH A PRICE

As a Seller, you may believe your property is worth more than the Realtor wants to Initially list it. An agent may agree to list your home at a higher price, but I am of the opinion that this should only apply if you agree to drop that price within a specified period (usually in 15-day increments). Realtors who use this technique may actually be looking out for your best interest. Agreeing on a plan to reduce the price gradually helps build rapport and trust with clients who may be stuck on a number. My job as a Regina realtor is to know the market and I do my research to make sure I know the optimum listing price for every property I agree to sell based on the individual seller's unique set of circumstances. 

2. PREPARING YOUR HOME FOR SALE 

You need to shift your perspective and view your home through the eyes of the prospective buyers. Ask yourself what you would expect. My role as your Regina Real Estate agent will be to help guide you and give you tips on de-cluttering and other things that will help your home be more sellable. Now is not the time to be attached or sentimental about furniture, art and belongings. 

3. BE AVAILABLE FOR SHOWINGS 

Potential buyers may ask to see your home on short notice. It is best if you can accommodate these requests, you never want to miss a potential sale. After each showing, be assured that I will follow up with the people who viewed your home to hear their feedback, which I will share. 

4. YOU GET AN OFFER ...OR MULTIPLE OFFERS

If everything goes well, a buyer’s agent will present your agent with an offer. You have three choices – accept the offer, counter the offer or reject the offer. Be assured that my knowledge of your needs will enable me to represent you in the best way possible.

Next Steps!  

5. UNDER CONTRACT 

At this point, you have accepted an offer and have agreed to all the terms set forth in the contract.

6. CONDITIONAL PHASE 

When the agreement of purchase and sale is accepted and signed by all parties, the conditional phase begins. The buyers will have a pre-determined amount of time to fulfill items likely including home inspection, financing, home insurance, etc. The date the conditions are removed, you now have a firm and binding contract for the sale of your home.

SOLD!

7. CLOSING

This is the date of transfer of funds and ownership that was agreed upon in your binding contract. I will make sure that you know that you are packed up and ready to go before this date

Have questions about Selling Your Regina Property?
Contact me today, I am here to help!  

• Read More Reviews From James's Clients Here 

• Sell Your Home With James Wruth. 

• See The Regina Real Estate Market Trends

• Search For A Home On James' Website 

If you are looking for a Regina Realtor who works tirelessly on your behalf and always offers honest and candid advice, I will be an expert at your side.

 
Source article : https://www.maxrealestateexposure.com/how-sell-house-relative-dies/ 

Greetings Friends,

I am pleased to be able to share my 2022 May Regina Real Estate Market Report! 

I believe in personalized one-on-one service to fully understand you, your real estate goals and to be 100% accountable to you. I also want to bring value before, during and after the sale of your home!  

If you are looking for a real estate agent who works tirelessly on your behalf and always offers honest and candid advice, please contact me today! 

How Does This Compare to National Data? 

May 2022 Monthly Housing Market Trends Report

Canada’s housing market saw a slowdown in sales during the month of April 2022 as rising rates tempered homebuyers’ appetites, right as Canadian home prices fell from record-breaking levels. For April 2022, the average home price in Canada's housing market was $746,146, up 7% from last year. While Canada’s average home price has risen by over $50,000 in the span of one year, home prices have fallen compared to the previous month. March 2022’s average home price of $796,068 means that the average home price in Canada has fallen by over 6% in just one month.

Meanwhile, the MLS Benchmark Price increased 27% year-over-year to $882,400 for April 2022, yet is down by 0.3% month-over-month. This marks the first time that Canada’s MLS Benchmark Price has decreased on a month-over-month basis in two years. The last time that Canada's benchmark home price has fallen month-over-month was in April 2020.

June 4, 2022