Worth

Checking Out

In

October

Successful Offer Secrets Revealed: Top 10 Questions About Buying A Home

Compiled for happy clients by:

Bruce Johnson Sales Representative

Mary Johnson Assistant

RE/MAX of Wasaga Beach Inc.

1263 Mosley St., Box 490 Wasaga Beach, ON L0L 2P0

email: brumar@simcoe.net

www.thehomehunt.com Tel: 705-429-4500 Fax: 705-429-4019

A Lively Source of Real Estate & Community News October 2000

Y ou’ve just found your dream home and are

ready for the next step: The Offer of

Purchase and Sale. So what’s the best way

to decide how much to offer for a house? Consider

the following factors: 1. What is the advertised price of the house? Most buyers treat this as an estimate of what the

seller would like to receive and recognize that different sellers price houses differently. Some

sellers deliberately overprice, others ask for close

to what they want and a few (often the cleverest!)

underprice their houses in the hope that potential

buyers will compete and overbid. 2. What can you afford?

Be sure to factor in mortgage and legal fees, land

transfer tax and closing costs along with heat,

hydro and municipal tax payments. 3. What are the recent comparable sales?

Before making an offer, you should know the

selling prices of nearby houses similar to the ones

you're interested in buying. For reliable comparable

prices (or "comps"), follow these guidelines:

The sale should have occurred within at least

six months. The hotter the market, the more

recent the comp should be.

It should be for a similar house in terms of age,

size and type and number of rooms.

It should be geographically close to the

house you want to buy. 4. Is the market “hot” or “cold?”

In competitive areas, homes sell

quickly—and often for more than

the asking price—as bidding wars

erupt among frenzied buyers. 5. What are the seller's needs?

Price alone is not the only

factor for sellers. Your flexibility and sensitivity to the seller's

needs—whether it's a quick closing or

extending the closing date for a seller

who can't move for a few months—may

make or break your offer. 6. Is the house uniquely valuable to you?

A modest house near a school listed at a

reasonable price may be a bargain if you have three

kids. However, the same house may be overpriced

for a couple not planning to have children.

Remember your personal needs.

7. How much are you willing to pay?

While tactical considerations—the temperature of

the market, the seller's needs—are important,

nothing should outweigh your own honest

assessment of how much you are willing to spend. 8. How can I protect myself in an offer?

Offers almost always contain conditions—events

that must happen within a certain amount of time or

the deal is void. Buyers make offers conditional on

financing, home inspections and the sale of their home. However, the more conditions in an offer,

the less likely the seller is to accept it. 9. What are useful offer strategies in a competitive market?

When demand is high, homes sell quickly. Think twice before you get caught in a bidding war. Even

if you decide that a house is so attractively priced

that you want to try to preempt other bidders by

making the highest offer, it's crucial that you stick

to a set limit. To force a quick decision, buyers

often give the seller a short time period to deal with

their offer. 10. Does a home seller have to take the first offer that comes in?

Whether it's the only offer or the first of many, a

seller does not have to accept any particular offer.

If a bid is far below asking price, the seller is likely

to reject the offer on the spot. But even attractive

offers are rarely accepted as written. Sellers usually

respond with a written counter offer accepting

some, even possibly most, of the offer terms but proposing certain changes. Most counter

offers correspond to these provisions:

Price—the seller wants more money

Occupancy—the seller needs time to

move

Sale of buyer’s home—the seller

doesn't want to wait for this to occur

Inspections—the seller wants the buyer

to schedule them more quickly.

The buyer may accept the counter offer, reject

it or present a “counter counter” offer. The negotiations then continue until either a deal or an

impasse is reached. A contract is formed when the

seller or buyer accepts the terms of the other's offer

or counter offer in writing within the time allowed.

—Bruce

7th-8th—Art Show & Sale

Oakview Community Centre

11th—Autumn Colour Hike

Ganaraska Hiking Club 12th—Firearm Licence

Assistance @ Chamber of

Commerce Boardroom:

11am to 5 pm (don’t take

your guns to town!!)

13th-15th—Beach Boys

Oldtimer Hockey

Tournament (Call Gerry @

705-429-1931)

14th—Adopt-a-Road (Call

Tim North 429-6250) 14th—Comedy Night / Silent

Auction / Dance in support of

Georgian Pontiac ladies Slo-

Pitch team (Call Kari Gerrard

@ 429-0055)

21st—Chamber of

Commerce Annual General

Meeting & Dinner (429-2247)

21st—Blood Donor Clinic @

Oakview Community Centre

22nd and 25th—All

Candidates Meeting @ Oakview Community Centre

27th—Youth Costume Dance

@ Wasaga Stars Arena

28th—Rotary Club Gala

Dinner and Dance

28th—Minor Hockey Dance

OUR SERVICE PLEDGE

As product and service providers we are 100% committed to a level of excellence that will make

you say “WOW” and keep you coming back. We

are aware that if we don’t exceed your expectations the first time and every time, you may be just a “satisfied customer”....and that’s not enough. Our desire is to have you so satisfied as clients that you will make a point of referring us to your friends, family and business associates.

Window on Wasaga Homeowner Service Centre October 2000

Frequently Called Numbers

Ambulance Office: (705) 429-4655

Arena: 429-3321

By-Law Department: 429-2511

Chamber of Commerce: 429-2247 Fire Department Office: 429-5281

Hydro Office: 429-2517

Library: 429-5481 Municipal Office: 429-3844

O.P.P. (Police): 911 (emergency only)

Provincial Park Office: 429-2516

Public Works Department: 429-2540

A good realtor keeps you up to date on current market conditions and trends within the area real estate

market. This report shows you the number of MLS properties listed and sold in our area recently:

By Area Sales Average

Price

Av. Days

on

$1 to

$80,000

$80,000 to

$100,000

$100,000-

$120,000

$120,000-

$140,000

$140,000-

$160,000

$160,000-

$300,000

Over

$300,000

Clearview 13 $184,415 75 0 1 1 3 2 4 2

Collingwood 36 $160,521 71 2 6 5 5 5 11 2

Town of the

Blue Mtns 14 $220,286 74 1 0 1 2 1 6 3

Tiny

Township 2 $152,500 114 1 0 0 0 0 1 0

Wasaga

Beach 27 $150,893 88 2 3 3 4 3 11 1

Total Sales Statistics from Sept. 1st, 2000 to Sept. 30th, 2000

THE “WOW” TRIVIA CONTEST

Win A Wednesday Night Dinner For Two at:

“Where will the “all-candidates meeting”

be held at the end of October?”

Call Bruce at 705-429-4500 to win!

Congratulations to last month’s winner:

Kim Murray

Goodies Cafe

CALL 1-800-396-POST

Michelle Reichart 65 Cedar Pointe Dr., Suite 105

Barrie, ON L4N 9R3

33 Ste. Marie St. 1263 Mosley St. P.O. Box 490 Riverbend Plaza Collingwood, ON Wasaga Beach, ON L9Y 4B2 L0L 2P0 (705) 445-9300 (705) 429-5199

Fax: (705) 445-2269

The advertisers herein are owned and operated independently. The Publisher cannot and does not guarantee or assume any liability for the services advertised.

BRIAN GREASLEY, B.Sc., LL.B. Barrister and Solicitor

BROWN’S MOVING, MAINTENANCE & PROPERTY

We do it all for You! Moving & Storage

Yard Maintenance

Home & Trailer Washing

Odd Jobs

Loads of topsoil/gravel

DAN BROWN: (705) 429-4323 Toll-Free Pager: (416) 550-2960

862 Mosley Street

Wasaga Beach, ON L0L 2P0

Tel: (705) 429-6166

http://www.tdbank.ca/Your Home 24 hours, 7 days a week: 1-800-9TD-BANK

Your Family’s Full Service Lawyer

WE’RE HERE TO HELP MAKE IT EASIER

of Wasaga Beach Inc.

Bruce Johnson, Sales Representative

BANK

NORLITE

Financial Services YOUR RE/MAX APPROVED

MORTGAGE BROKERAGE

Residential / Commercial Mortgage Consultant

1226 Mosley Street, Unit #2,

Wasaga Beach, Ontario L0L 2P0

DIRECT LINE: (705) 429-5492

Res: (705) 429-3112

Fax: (705) 429-1175

DONNA M. MULLEN

587 River Road West, Suite 8 Wasaga Beach, ON L0L 2P0

Dr. Mardi Charlton B. Sc., D.C., Dip. Acu.

Chiropractor, Acupuncturist

Ph. (705) 429-5073 Fax: (705) 429-8168

Nottawasaga Chiropractic

W.D. Redick & Associates Inc.

John Redick Sales Representative

47 Ste. Marie St.

Collingwood, ON L9Y 3J9 Bus: (705) 445-0301 Fax: (705) 445-1400

587 River Road West

Wasaga Beach, ON L0L 2P0 Bus: (705) 429-7600 Fax: (705) 429-7610

TIMLOCK CONSTRUCTION

Al Timlock Box 186 Wasaga Beach, ON Tel: (705) 429-6870

“Building Fine Homes in Wasaga Beach Since 1964”

R.F. Hale Construction

Decks Renovations General Carpentry

705-428-5067

Published by Bruce Johnson, Sales Representative, RE/MAX of Wasaga Beach Inc. Not intended to solicit properties currently listed.

RE/MAX of Wasaga Beach Inc. Independently Owned and Operated

Bruce Johnson Sales Representative 1263 Mosley Street, Box 490 Wasaga Beach, ON L0L 2P0 email: brumar@simcoe.net

www.thehomehunt.com

Tel: 705-429-4500 “A MOVING EXPERIENCE”

BEACHFRONT LOTS Two picturesque beachfront lots in

Wasaga’s west end beach area. Stone

breakwall already in place, and

water, sewer and gas are all at the lot

line. Each lot is beautifully situated

and brimming with mature trees,

shrubs and perennial flowers. If

you’ve ever dreamed of owning a

beachfront property, this is your

chance! See listing office for

encroachment information. Each lot

is listed at just $179,900.

*Note: If you’ve been tracking the price of

beachfront the past few months, you know

this is a scarce commodity.

Unique Mortgage Study Released:

I n one of the more interesting studies released about the real estate buying public,

MortgageIT reports that people would much rather live next to a movie star than a politician, and there aren't as many arguments over mortgages as you might think. Also:

55 % of women do most of the research for

couples' mortgages and split responsibility evenly with spouses when it comes to submitting applications.

Husbands are still the primary borrowers listed

on 74 % of mortgage applications.

Couples made a joint decision on which home

to buy 48 % of the time. In cases where one spouse was responsible for the home selection,

wives' decisions slightly outranked their mates' by 28 % to 24 %.

58 % of couples said they had no arguments in

the course of buying their home. 27 % said they fought 1 to 3 times. 8 % reported four to six fights. 7 % said they quarreled more often.

FUN POLICE QUOTES

“The handcuffs are tight because they're new. They'll stretch

out after you wear them awhile.”

“If you run, you'll only go to jail tired.”

“So, you don't know how fast you were going. I guess that

means I can write anything I want on the ticket, huh?”

“Yes sir, you can talk to the shift supervisor, but I don't think

it will help. Oh, did I mention that I am the shift supervisor?”

“Warning! You want a warning? O.K., I'm warning you not

to do that again or I'll give you another ticket.”

“The answer to this last question will determine whether you are drunk or not. Was Mickey Mouse a cat or a dog?”

“Life's tough—it's tougher if you're stupid.”

“No sir, we don't have quotas anymore. We used to have

quotas, but now we're allowed to write as many tickets as we

want.”

“Just how big were those two beers?”

“In God we trust; all others are suspects.”

Bonus: How To Interpret a Police Report

“The motorist was cited for multiple traffic violations.”

(I wrote one citation for each swearword he used.)

“This officer went out-of-service to obtain intelligence

information from a street informant.”

(It was too hot to ride in the car.)

“While on routine patrol…”

(I was in the car because the coffee shop was closed.)

“The accident scene and the victims’ safety

prevented this officer from doing traffic control”

(It was raining.)

“Knowing the suspect had a criminal history…”

(He puked on my uniform one night.)

DEAL OF THE MONTH You’ve been waiting for this building

lot! Super close to the pure sand

beach on 27th Street N. Lot measures

68’ x 93’ and has water and sewer

connections (locals paid). Lot has

some mature trees and is centrally

located. Asking $64,900

GREAT COTTAGE/HOME LOT Super building lot with water, sewer and

gas at the lot line. This lot is partially

cleared and has a useable garage on it. Vendor will remove mobile home unit

currently on property. Very quiet street,

few neighbours, close to schools and

stores and, of course, just a short walk to the beach. Offered at $29,900.