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Real Estate Investment Mistakes

Posted by: Navtaj Chandhoke in LearningInvestors blog on

Navtaj Chandhoke
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* Real Estate Investment Mistake #1 - Quick Buck Schemes & Scams

Real estate wealth was the road to riches of 9 of every 10 Canadian millionaires. That's why in looking at real estate we agree you are definitely going in the right direction. But few made their fortunes in overnight changes of value, or by buying their real estate for less than it was worth when they bought it. They made their fortune in buying the real estate for less than it was worth over time as they owned it. Pre-foreclosure, foreclosure, pre-construction, fix and flip, remodeling, probate, lease options, and a million other schemes count on your buying something for less than it is worth at closing. That can happen, but the most predictable real wealth from real estate comes from appreciation from market forces over time not the stupidity or lack of knowledge of sellers at the closing table.

It's been said you never get a second chance to make a first impression. In fact, your front door is telling people things behind your back! How come? What does it say? Since your front door is one of the first things guests and neighbours see, making your front entrance magnificent can go a long way in enhancing your home's attractiveness and your pride of home ownership. It is one way you can use to maximize both the curb appeal and the enjoyment of your home.

In recent years with the advent of technology and the internet there has been increased focus of privacy and identity theft but this is nothing new. Theft and fraud has always been a constant threat but especially in our society where your credit is everything and everything can be bought on some form of credit. And the largest form of credit most people have is their home mortgage. But what if the mortgage you have is not even yours and on a property you did not know even existed. This is mortgage fraud and it can happen to anyone.

"This is a transaction in which the government of Canada, the taxpayers of Canada will not lose money....quite frankly, because the costs of our borrowing are lower than the value of these mortgages, we'll probably make money when this transaction is over."

Stephen Harper saw a buying opportunity and he pounced. Not with his own money, obviously, but on behalf of all Canadians. Most of us are too stupid or broke to see the buying opportunities that are out there and that's why Pappa Harper, our leader who's still sort of a leader, acted.

If Harper's statement is true, though, then why isn't the government permanently in this business?

mls.ca website is now REALTOR.ca

Posted by: Jarek Bucholc in Market NewsLearning on

Jarek Bucholc
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October , 2008 -- Moving day has arrived, which means the mls.ca website is now REALTOR.ca. As a result of two years of study and re-design, the site has evolved into a portal providing consumer access to all of the public web sites operated on behalf of REALTORS®.

The re-branding of the website was recommended by a task force of The Canadian Real Estate Association, and approved by the membership at the CREA Fall Assembly in 2007. While the site is re-branded, the old address - http://www.mls.ca/ - will not disappear. CREA will maintain ownership of the old URL, and consumers using it or referring to bookmarks will be automatically re-directed to the new site.

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