Mortgage Minute- February 2019

Aleem Peermohamed - Senior Mortgage Planner

Paragon Mortgage Group

aleem@themortgagespecialist.com
778-233-2377
http://www.themortgagespecialist.com/

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Experts Say These 5 Real Estate Tips Are Now Totally Outdated

 

Like lots of things in life (including yourself!), the real estate world keeps rapidly evolving. Though some things will stay the same, at least one thing your Realtor told you a decade ago is no longer relevant. Here, five once-common pieces of advice experts say that you should now take with a grain of salt.

Old advice: Overprice your home

"This advice is outdated because today—more than ever—people want to feel like they are getting 'value' in what they purchase. Real estate is no different," says Mark Cianciulli, co-founder of The CREM Group, a real estate company in Los Angeles. "So, if you list your house for too high of a price, a lot of buyers won't waste their time, or perhaps even see it, since it won't show in their search criteria."

Old advice: Spring is the time to sell

"Listing your property in the spring to launch during the spring selling season is no longer the case," says Noemi Bitterman, a real estate agent at Warburg Realty in New York City. "With the internet and social media, properties sell all year long. In January, when big bonuses are given, many buyers are out and in full force—even in a snowstorm."

Old advice: If they like it, they will buy it as is

"Instead, I always say 'if you don't want to make repairs, just lower your price,'" says Dolly Hertz, an agent at Engel & Voelkers in New York City. "A buyer walking into a home with glaring defects—like peeling paint, missing moldings, a broken refrigerator—or large projects that clearly need attention—like new decks, roof, or siding—is going to say hello and goodbye in the first five minutes."

Instead, do what you can to make the place as move-in ready as possible.

"That may include repainting the kitchen or re-facing the cabinets—not necessarily re-doing the entire kitchen," Hertz says. "You may not recoup every penny you spend on preparing for the sale, but, if you get a buyer willing to engage, you've met your objective."

Old Advice: List in your local newspaper

"The days of searching in a print medium are over as most buyers are looking at online real estate websites for potential homes to buy," Cianciulli says. "What I would recommend is having a virtual walk-through done of your property and asking your agent to upload that for you. This allows you to show buyers more features of your property versus still photos that don't show off everything about your home."

Article taken from: https://www.apartmenttherapy.com/real-estate-tips-outdated-265291



Foreclosures

 

Feb 2019 Burnaby Attached
Feb 2019 Burnaby Detached
Feb 2019 Chilliwack Attached
Feb 2019 Chilliwack Detached
Feb 2019 Commercial
Feb 2019 Coquitlam Attached
Feb 2019 Delta Detached
Feb 2019 Land
Feb 2019 Langley Detached
Feb 2019 Maple Ridge Attached
Feb 2019 Maple Ridge Detached
Feb 2019 Mission Detached
Feb 2019 Multifamily
Feb 2019 New Westminster Attached
Feb 2019 New Westminster Detached
Feb 2019 North Vancouver Detached
Feb 2019 Pitt Meadows Detached
Feb 2019 Port Coquitlam Detached
Feb 2019 Richmond Attached
Feb 2019 Richmond Detached
Feb 2019 Squamish Detached
Feb 2019 Surrey Attached
Feb 2019 Surrey Detached
Feb 2019 Vancouver Attached
Feb 2019 Vancouver Detached
Feb 2019 West Vancouver Detached

Above is a list of foreclosures in the Lower Mainland.

There are some great deals to be had for either your own home or as a rental property.  Check them out at the links above.



6 Lies We’re Told About Money Growing Up

 

These common lies and myths are hammered into most of us as we grow up. Some are just outdated beliefs that no longer work. Others are misconceptions from those with a limited perspective on life and money. Some may be the result of billions of dollars in marketing and programming. It is good to be aware of them and reprogram yourself to harness empowering beliefs that can deliver on what you really want.

1. Money can’t buy happiness.

Simply having more money in your bank account may not make you happier—at least, not after a certain point. However, anyone who has both been broke and has enjoyed an abundance of money can tell you it’s a lot better to have it than not.

Money does provide a gateway to more experiences in life. It allows you to solve more problems quickly and easily. Imagine you have a relative who gets sick. If you have the funds, you may be able to pay for whatever surgery they need. Conversely, if you’re broke, you may be powerless to help them. No amount of money is better than your health or your family’s health, but having some can empower you to provide resources in times of need.

Money can also buy you freedom. It can give you security and reduce stress, as well as allow you to focus on things you really care about and want to do, whether that is traveling or giving your kids all the advantages to live their passions.

2. Wealthy people are thieves.

There are both broke and rich people who seem to believe they can only win, get rich, and feel good if they take from others. Still, to say all wealthy people are thieves and must have gotten there by ripping others off is far from the truth. In fact, those who share and give the most value to the most people are able to gain the most wealth and keep it long-term. This myth is just something told by those without money as a way to justify why they don’t have it.

3. Money is the root of all evil.

Money—just like political titles, big houses, and fancy cars—is not inherently good or bad in and of itself. This quote has been twisted from what it originally stated, which is “the love of money is the root of all kinds of evil.”

If you are only chasing the money to get rich at all costs and don’t care about anything else, then yes, at some point it is probably going to get you into trouble. Perhaps make a few enemies on the way.

Money is just a tool. It can be used for incredible good. There are lots of problems out there, from famine to lack of clean drinking water and sickness, that can be cured with money. It’s all about the priority it has in your life compared to your other values—and what you do with it.

4. Save, save, save

Some of us with smart and hard-working parents or grandparents were told all our young lives to “save, save, save.” That was supposed to be the key to success.

It just doesn’t work. You can’t save enough, quickly enough to get ahead or stay ahead. The average retirement account balance of a Canadian  right now is only around $184,000. That includes those who have been working a lifetime to accumulate that and maybe even some who inherited money. You might need several million to get through retirement. The numbers just don’t add up.

If you want to keep up or get ahead, your mantra should be “invest, invest, invest” or “earn, earn earn” instead.

5 . Money doesn’t grow on trees.

This is a scarcity mindset. If you always think and act out of scarcity, that’s what you get. So many people have gotten into real estate investing and have woken up to just how much money is out there and freely available. Some people dream their whole lives of winning a million dollars. They think that if they hit that golden number, they’ll be set forever. In reality, you can blow through a million bucks pretty fast. There are cars that sell for over $1M. In many cities, the average house starts at $1M.  Millionaire is the new middle class.

There is definitely enough in the world for everyone to have abundance. It’s about logistics and bridging the gap from where you are now to where you want to be. Increasing the cash flow in your own life is about investing and finding more ways to serve more people.

6. Go to college.

They tell you to go to college to get an education that will land you a good job that pays well, so you can ride it out until retirement. That strategy might have worked a few decades ago, but it doesn’t anymore. Chances are it will just make you even more broke with lots of student loan debt.

Learning is good. It is important. But many may be better off learning real financial skills and how to invest and make money work for them, instead of trading their lives for just enough to get by.

If you’ve heard these things, I urge you to consider who told them to you. They may have been shared out of good intentions, but that doesn’t mean they’ll work. How wealthy have these beliefs made those who perpetuate them? Learn from those who are living how you want to live.



9 Bad Habits That Can Lead to Unhappiness

 

Almost every action we take in life is aimed at achieving or maintaining happiness that elusive state where we feel contentment, satisfaction, and even bliss. 

Some habits lead to unhappiness more than others do. These traps are easily avoided once you’re aware of them. Here are nine of them so you can be more conscious next time you are defaulting into them.

1. Holding your feelings in.

One of the great misconceptions concerning emotional intelligence (EQ) is that it is about repressing our feelings and holding them in. While it is true there are feelings that high EQ individuals do not allow to erupt on impulse, that does not mean those feelings are not expressed. Emotional intelligence means honoring your feelings and allowing yourself to experience the catharsis that comes from embracing them for what they are. Only then can you express them in a manner that helps rather than hinders your ability to reach your goals.

2. Numbing yourself with technology

Everyone deserves the opportunity to binge watch a TV show now and then or to switch on your Kindle and get lost in a book. The real question is how much time you spend plugged in (to video games, the TV, the tablet, the computer, the phone, etc.) and whether it makes you feel good or simply makes you numb. When your escape becomes a constant source of distraction, it is a sure sign you have fallen into the trap of too much of a good thing.

3. Spending too much time and effort acquiring "things".

People living in extreme poverty experience a significant increase in happiness when their financial circumstances improve. There’s an ocean of research that shows that material things don’t make you happy. When you make a habit of chasing things, you are likely to become unhappy because, beyond the disappointment you experience once you get them, you discover that you’ve gained them at the expense of the real things that can make you happy, such as friends, family and hobbies.

4. Waiting for the future.

Telling yourself, “I’ll be happy when …” is one of the easiest unhappy habits to fall into. How you end the statement doesn’t really matter (it might be a promotion, more pay or a new relationship) because it puts too much emphasis on circumstances, and improved circumstances don’t lead to happiness. Don’t spend your time waiting for something that’s proven to have no effect on your mood. Instead, focus on being happy right now, in the present moment, because there’s no guarantee of the future.

5. Fighting change.

Change is an inevitable part of life, and those who fight it do so because they are struggling to remain in control. The problem with this approach is that fighting change actually limits your control over the situation by putting up a barrier between yourself and the actions you need to take to improve your situation.

6. Pessimism.

Nothing fuels unhappiness quite like pessimism. The problem with a pessimistic attitude, beyond it being hard on your mood, is that it becomes a self-fulfilling prophecy: If you expect bad things, you’re more likely to get bad things. Pessimistic thoughts are hard to shake off until you recognize how illogical they are. Force yourself to look at the facts, and you’ll see that things are not nearly as bad as they seem.

7. Trying to keep up with the Joneses,

Jealousy and envy are incompatible with happiness, so if you’re constantly comparing yourself with others, it’s time to stop. In one study, most subjects said that they’d be OK with making less money, but only if everybody else did, too. Be wary of this kind of thinking, as it won’t make you happy and, more often than not, has the opposite effect.

8. Not improving.

Because unhappy people are pessimists and feel a lack of control over their lives, they tend to sit back and wait for life to happen to them. Instead of setting goals, learning and improving themselves, they just keep plodding along, and then they wonder why things never change. Don’t let this be you.

9. Staying home.

When you feel unhappy, it’s tempting to avoid other people. This is a huge mistake, as socializing, even when you don’t enjoy it, is great for your mood. We all have those days when we just want to pull the covers over our heads and refuse to talk to anybody, but understand that the moment this becomes a tendency, it destroys your mood. Recognize when unhappiness is making you antisocial, force yourself to get out there and mingle, and you’ll notice the difference right away.

Changing your habits in the name of greater happiness is one of the best things that you can do for yourself. But it’s also important for another reason—taking control of your happiness makes everyone around you happier, too.



Is Your Mortgage Up For Renewal In 2019?

 

If your mortgage, or someone you know, is up for renewal in 2019, make sure to explore all of your options.

Your current mortgage lender does not always automatically offer you the 'best' rate because they know that statistically, most people (upwards of 70%) will simply sign whatever offer they present to you as your mortgage maturity date approaches. There may be better options and strategy's out there for you.



7 Mental Hacks to Be More Confident in Yourself

 

Confidence is the cornerstone of leadership. If you don’t believe in yourself, how can others believe in you? Here are seven ways  to boost your confidence—mental hacks you can use to be more confident in yourself.

1. Push through self-limiting beliefs.

Find your limits by exposing yourself to different situations and pushing through the uncomfortable. Once you have confidence in yourself, you’ll be amazed what you can accomplish.

2. Never confuse memory with facts.

Revisit the facts of a memory loaded with self-limiting beliefs and try to gain a more accurate perspective on the event. Talk with others that might have a different perspective.

3. Talk to yourself.

Be positive, because the way you talk to yourself influences your neurobiological response to it. When you say, I know what to do here or see things as a challenge rather than a problem, you’ve turned your response into a positive one.

4. Think positive to overcome your negativity bias.

* Come up with five positive thoughts to counter every one negative thought.

* Let every positive thought sit for 20 seconds before moving to the next positive thought.

* Acknowledge both good and bad emotions.

* Do not try to suppress negative ones.

* Label the emotions for what they truly are and move on. Do not enter into inner dialogue about the negative emotion because then it becomes more powerful.

5. Raise your curiosity levels.

Ask questions and be curious because:

* It makes your mind active instead of passive.

* It encourages you to be more observant of new ideas.

* It opens up new worlds and possibilities.

* It creates an adventurous response that leads you in a new direction.

6. Overcome self-doubt.

No one but you is stopping you from achieving what you want to accomplish. It’s time to identify the areas in which you doubt yourself and remove those barriers.

7. Face your fears.

Think about your worst fear. Spend time with it. Now make your fear worse by getting closer to it. Imagine the worst that could happen. Now focus on your breathing. Feel your body relax. See, you didn’t die, did you? You’re on your way to conquering your fear.

If you don’t believe in yourself, how do you expect anybody else to? Start today.



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