Episode 1: How's the Canadian Real Estate Market?

Faeine:
Hi.

Jennifer Foley Realtor:
Hi. It's been so long.

Faeine:
It's been forever. How are you?

Jennifer Foley Realtor:
Good, good. So how is real estate and having babies?

Faeine:
Oh my gosh. It is crazy. So the first time around was like I had no idea what I was doing. And then, six years later, surprise, at 37 years old, I'm like, "Let's have another one. Why not, right?"

Jennifer Foley Realtor:
That's awesome.

Faeine:
You know what? This time around, it's like I was able to prepare for it so much better than the first time around. So I feel as though my entourage of support is just night and day difference which is great. And Jordan's such a good baby. He's such a good baby.

Jennifer Foley Realtor:
That's awesome. Congratulations.

Faeine:
So it's good. It's really good.

Faeine:
I've had to hire a nanny, though, so we have... I swear, my life is chaotic. We've got school. We've got after-school care. I've got Jordan's daycare, and I've got an evening nanny for the first half of the week while Marty is working.

Jennifer Foley Realtor:
Well, you have to, right, because real estate is ongoing. You have to be on call, and everything else [crosstalk 00:01:11].

Faeine:
Totally. Exactly, exactly. And it's like, it's cute when you can take your baby to a showing every once in a while, but [crosstalk 00:01:21].

Jennifer Foley Realtor:
How does that work for you now? How does that work... so let's back it up a little bit. I work in Ontario, and I'm working just outside Toronto, about 30 minutes east of Toronto in an area called Durham region which is Ajax, Whitby, Oshawa, Bowmanville, Newcastle, those areas.

Jennifer Foley Realtor:
So, Faeine, where is it you're from?

Faeine:
Right. So I'm based out of Abbotsford which is about 45 minutes east of the city of Vancouver in British Columbia. And I cover, I want to say, Fraser Valley being deep valley. So I cover Abbotsford all the way up to Chilliwack and then the surrounding sort of areas in between. Used to be in Vancouver, but now I primarily focus on Abbotsford and Chilliwack and sort of the Fraser Valley region. Vancouver's too busy for me now.

Jennifer Foley Realtor:
So [crosstalk 00:02:16].

Jennifer Foley Realtor:
Right? And [inaudible 00:02:16] then we become community resources because we're right there in the hub of things, and we know what's going on and all that other good stuff, right?

Faeine:
Exactly. Exactly. And I really like the small community feel. I was actually born and raised in Vancouver. And so now having spent 10 years in the Valley, I couldn't be happier. It just... it has a completely different way of... just a completely different feel in life. And it's nice to be... I think the biggest thing is that we're surrounded by mountains in nature here, so that's what a lot of people from other provinces, especially Alberta, they come to BC, and they're like, "Oh my gosh. It's so green. It's so... the mountains everywhere." And it's amazing what you take for granted, right?

Jennifer Foley Realtor:
So how long have you been living in the Fraser Valley area?

Faeine:
Going on 10 years.

Jennifer Foley Realtor:
[crosstalk 00:03:07]. That's awesome. That's awesome. [crosstalk 00:03:11].

Faeine:
Born and raised in a big city, and then slowly over the years, I've kind of come farther and farther east.

Jennifer Foley Realtor:
So you and I, we were talking... well, I don't know. How long ago was it we started our video series and then kind of got busy, and work got busy, and we got sidetracked from it.

Faeine:
Gosh. I think what happened was the 2018 market, that the last time we kind of... we got... everybody got slammed with the 2018 market, and we were like, "What are we doing?" And it just became... life got so busy, and [crosstalk 00:03:43].

Jennifer Foley Realtor:
[crosstalk 00:03:43]. So what's happening in Abbotsford? What are you seeing?

Faeine:
The market? The market is very, very busy, overall. Obviously, it depends on exactly what type of property you're looking for, but the average home, I would say, is your basic... your single-family detached and then your townhouse. Those are the primary properties that are selling off the shelf and going into [crosstalk 00:04:17].

Jennifer Foley Realtor:
And hat's the same here. That's the same here. Single-family, two-story, and townhouses seem to be what is the big draw right now. And correct me if I'm wrong, but you're probably seeing a lot of people migrating out of Vancouver into the outlying areas because that's what we're seeing here because we're kind of a suburb outside of Toronto, then they're migrating, and they're coming out of the bigger cities, right? Is that what's your finding?

Faeine:
100%. 100%. That's exactly... so in and around Metro Vancouver, people are all of a sudden realizing that, "Hey, I can work from home now. I can have the backyard and sell my $2 million property in Vancouver and then [crosstalk 00:05:02]," right?

Jennifer Foley Realtor:
And get a bigger house and a bigger property.

Faeine:
So-

Jennifer Foley Realtor:
[crosstalk 00:05:06] commute intermittently when they need to.

Faeine:
Exactly. Exactly. That's exactly right. And we've seen prices increase dramatically because of this over the last... I want to say, even since February and March, the last 30 to 60 days, prices have absolutely skyrocketed and so many people. It's great for people that are coming from outside of town because they're probably selling their property that is more expensive and then living the good life coming out here.

Faeine:
Yet, the people that are sort of just getting into the market or they're wanting to upgrade from, say, their townhouse to a condo, all local, they're the ones that I find are having the hardest time with this type of a market.

Jennifer Foley Realtor:
And that typically seems to be across the board. I think in the province of Ontario, and I think across Canada, right, I think as a seller, sellers are happy to see people coming in and paying good money for their properties, but for local people that want to stay local and they start seeing the changes in the price, prices being elevated, then it makes them very hard to make that move.

Jennifer Foley Realtor:
So you keep seeing this domino effect where people are moving further and further east, or they're moving further and further west or north or south or wherever from the major city, and they're willing to commute because... well, and in some cases they have to, right, just to get into home ownership, right?

Faeine:
Right. I agree. 100%. And so in your area, if people are coming... if they're in your area to begin with, what areas are they going to? Do they have... how far are they going? Does it... are there still communities that are close enough around you? Do you have suburbs in where you're primarily located?

Jennifer Foley Realtor:
Not really because the region of Durham is made up of a number of towns and cities and it's the municipality, right? So what I'm finding is the majority of people are moving east, right, because if they move west, they were going back into Toronto. So the locals are moving east and basically going as far as an hour east.

Jennifer Foley Realtor:
So typically... and I'm finding too, there's a lot of retired people and people downsizing, and they're basically cashing out and looking for lifestyle in smaller communities where they can sell their house, say, for 800, try to buy a house for 400, which almost that 400 mark is getting near impossible, even in some of these outlying "cheaper areas" outside of our own area.

Jennifer Foley Realtor:
So things are changing. I think it'll be interesting to see what happens in the next six months here, especially with pricing and... because I'm starting to look at our own municipality where you can live 15 minutes west, and it's not all that much cheaper, right, because people have been paying more for prices further east. Anyhow, it'll be interesting to see what happens here.

Faeine:
I agree.

Jennifer Foley Realtor:
So I mean, I think there's some remnants of 2017 here. And if you recall, 2017 was that timeframe when it seemed like house prices were going up about 10,000 a day. I mean, that's not exact, but that was kind of what it felt like. And when you look at how fast prices went up in the last... well, what month are we now? April. So let's say the last six months even, right, and even the six months before that, prices were still going up. But the last six months, it seems to have really, really gone up fast. I mean, I don't have the exact percentages.

Faeine:
And especially after the pandemic, which, this time last year, we were all wondering what was going to happen. Nobody knew. Nobody had any clue as to what was going on, and the market literally stopped. I don't know if that was the same there, but it just completely stopped here. And nobody really knew what was going on. Prices dropped here for quite a bit.

Jennifer Foley Realtor:
And they pulled back quite a bit, so [crosstalk 00:09:42].

Faeine:
And then as soon as things started to open up again, I know you guys are still very much under lockdown, but things have opened up.

Jennifer Foley Realtor:
I just went into that province-wide lockdown on what was it? Friday? I don't even know. [crosstalk 00:09:57]. It was so weird. I went into Costco today because Costco now, they can't sell anything outside of groceries or just essential things or whatever it is. So all the clothing is blocked off by stacks of food and all this kind of stuff. You can't [crosstalk 00:10:17] any of the aisles. You can't buy... if you need a blender or you need any of that stuff, you can't get any of that stuff there which was kind of weird, but...

Faeine:
I bet.

Jennifer Foley Realtor:
... I'm interested to go into Walmart and see what they've done too because they [inaudible 00:10:34] block off their toy aisle, all that kind of stuff, right?

Faeine:
Wow, really? My goodness. That's... I mean, I guess they do what they have to do, but I mean, that's a whole other topic of conversation in and of itself.

Jennifer Foley Realtor:
So we're finding that. I mean, there's some changes that the government is looking at doing which is sort of a little bit of a topic of conversation that I've had with a few people recently, where they're looking at changing the eligibility criteria for anybody that's on an uninsured mortgage. So the stress test, right? It's going to make it a little harder to... they're trying to cool off the market a little bit, so it'd be interesting to see.

Faeine:
Well, and I was talking with my business coach the other day, and we were trying to sort of replay the 2017, 2018 market and try and replay what events triggered the cool-down.

Jennifer Foley Realtor:
[crosstalk 00:11:37].

Faeine:
And it was the stress test.

Jennifer Foley Realtor:
Government?

Faeine:
Government implemented the stress test as well as the foreign-buyers tax. I think the foreign-buyers tax was the first thing that came about, and-

Jennifer Foley Realtor:
Was the stress test then as well, in 2017?

Faeine:
... what's that?

Jennifer Foley Realtor:
Did they did implement the stress test in 2017 as well?

Faeine:
Either 2017 or 2018. I can't remember which, but it was around that time, though.

Jennifer Foley Realtor:
Well, we'll see, right, so...

Faeine:
It'll be really interesting to see what happens.

Jennifer Foley Realtor:
Save your pennies for [crosstalk 00:12:12].

Faeine:
Exactly.

Jennifer Foley Realtor:
I think it's about time for people that have some money to invest.

Faeine:
Absolutely. Absolutely. And so who are you finding? What are the challenges that a lot of your clients are facing? If they look at the sale or the value of their home and they say, "Oh my gosh. Look at the value of our home. We want to sell and move and [inaudible 00:12:39]." What challenges comes with that? So say you get that call, and you go over to your client's home, explain, "Yes, your home has gone up in value." And what's the next piece of advice that you give them from there?

Jennifer Foley Realtor:
I thought you were going to say what would be their next question? A lot of times, they are wondering how they want to buy first before they sell, right? They want to know where they're going, so that's one of the biggest challenges.

Jennifer Foley Realtor:
So my response to that is that that's not going to work, really, in this marketplace unless you're in a position to buy two properties, and especially, right now with the market changing, I don't think it's solid real estate advice to give to somebody that, "Hey, just put an offer in on this property, and we'll get your house sold" when you don't know, right? The market's changing and can always change, and when it starts to get a little bit fragile, the way that... I should... maybe fragile is not a good word, but when you start to see glimpses of change in the market, as a realtor, it's a little bit... I don't want to be saying to them, "Do this," right?

Jennifer Foley Realtor:
So that is just... that would be the conversation. If you were a seller, that's what I'd be saying to you that I think that you basically have to make a decision about whether or not you want to sell and make this move, and whatever you decide, I'm okay with that. That's your decision, right? But, you have to realize that we're reverting back to the way things always were where people sold first and then bought, right?

Jennifer Foley Realtor:
And the advantages is that you know how much money you've got to work with. You have a closing date to work towards. If you're worried about your house closing too fast, then we'll just negotiate the terms with that buyer and say, "Hey, you know what? Let's see if we can negotiate a longer close date. Let's try and negotiate something with the buyer that says that if we have a certain date on our agreement of purchase and sale that maybe we can extend that out, right, and have that already negotiated ahead of time that we have a window of time that we can change that fixed date to a different date." Does that make sense?

Faeine:
Absolutely. And that's key. And that's the same thing with me as well. I think that a lot of people are... they're seeing what they see on the media, and they think that the market is solid, solid, solid, and fast, fast, fast, fast, fast, and yes, you're going to for sure, for sure sell. And it's like, it's not that easy, though.

Faeine:
I don't know about you, but the few weeks before Easter, we noticed a very big change and rather than people getting 15 offers, maybe they'd be getting four or five? So [crosstalk 00:15:33].

Jennifer Foley Realtor:
And that's it. We're seeing that here too. [crosstalk 00:15:36].

Faeine:
Exactly. And I know that there was talk, and I forget where I saw this information, but a talk about perhaps interest rates rising up again. Did you hear that by chance? Have you heard talk of that?

Jennifer Foley Realtor:
Yup. And I think, too, I think the buyers are a bit fatigued. I think there's a lot of buyer fatigue out there, and the buyers just are like, "Well, had enough. Tired of seeing a house listed at 500, went into 650,000."

Jennifer Foley Realtor:
Not just the buyers. I think the realtors too.

Faeine:
Exactly.

Jennifer Foley Realtor:
I think the realtors... let's not just say the buyers. Let's be real. The realtors don't like when things happen like this either when you're on the buying side. It's great when you're on the selling side, and so I think there's a lot of fatigue going on there with... and they're just stepping back.

Faeine:
For sure. For sure. Well, it's not sustainable. If it just keeps rising and rising and rising, I mean, something's got to change. It can't keep going, right? Something is going to have to change in order to be able to return the cycle and sort of reset it back.

Faeine:
And I mean, we see these every five or six years of the business cycle, but I was actually surprised to see this busy of a market so soon after the 2017, 2018 market. I thought that we would be another two years out from seeing the surge like we're seeing right now. I've actually thought we would be seeing a bit of a... well, and I thought because of all of the real estate predictions, I was with the understanding that all of the predictions [inaudible 00:17:26] that 2021 would be a recession.

Jennifer Foley Realtor:
I know, right, and COVID. But, you know what? Our mentor and head coach, Tom Ferry, says to us that COVID, like interest rates, would trump COVID, and that was in an interview that he did with, I can't think of her name, but anyhow, somebody that studies that stuff and basically, that's what they had said. And that was March of 2020 that they had this interview, and it was like, "I don't know," right? Sure enough, low interest rates. That's what fueled the market here, and people's buying power got really crazy.

Faeine:
Exactly. Exactly. I'll be happy to see slightly more of a balanced market. And mostly because, I mean, being in the industry, our business is based on relationships with buyers, and I think I can speak for both of us when I say that we genuinely care about our clients and their experience with real estate and experience with working with us and making that transition.

Faeine:
And it gets really [inaudible 00:18:50]. It gets very heavy when you keep writing offers with buyers, and they keep getting their hearts broken. I don't know about you. That affects me too, right?

Jennifer Foley Realtor:
[crosstalk 00:19:01].

Faeine:
I can't wait until I start to get happy buyers again.

Jennifer Foley Realtor:
[crosstalk 00:19:05] because you know what? Buying a home is very emotional, right? So we're not... our jobs are not to just help people, show them properties, and do the offer negotiations. I mean, we're there as their mentors and their advisors and the shoulder for them to lean into and cry on. Not during COVID, though, but... I'm just kidding, but-

Faeine:
Zoom cries. Zoom cries.

Jennifer Foley Realtor:
... we're all of those things to them, right? We're the ones that listen to... we're like hairdressers. We hear everything that's going on. Well, not everything, but a lot of things, right, that's going on in their lives.

Jennifer Foley Realtor:
So no, it becomes very tiresome. That's why I said to you, I think the realtors get fatigued too, right, because it takes a lot of time, effort. You're trying to do the best for your client. You're advocating for them when you submit these offers. And it's hard because we're not getting face to face with sellers. I don't know about you, but I like to present my offers for my clients, and during these times, especially right now with our province on lockdown. Are you guys on lockdown? No.

Faeine:
There are... we're not in a complete lockdown, no. Our restrictions have, overall, been quite a bit more lenient than your side of the country, but they did just recently implement some new restrictions.

Jennifer Foley Realtor:
Ontario.

Faeine:
I believe this was last week, about a week ago. So we are on a very small period of time where everything is locking down. It's hard to know what's going to happen over the next little bit here, but from what I see in the media, our numbers are increasing. So I wouldn't be surprised if we see some other changes coming up pretty soon here.

Jennifer Foley Realtor:
Well then, we'll have lots of time for video.

Faeine:
Exactly. Exactly, right?

Jennifer Foley Realtor:
So, all you people that may be watching this, hit that Subscribe button, hit the Like button, give us some love. Come on, show us some love. Hit the Like button. Right?

Faeine:
And we'll link all of our social medias and YouTube and everything as well too.

Jennifer Foley Realtor:
That's it. So we'll see you again. When are we going to do this again?

Faeine:
This time next week.

Jennifer Foley Realtor:
All right. Well, there we go.

Faeine:
Weekly updates with Jen and Faeine.

Jennifer Foley Realtor:
All right. Well, we were doing Wednesdays, What's Happening Wednesdays.

Faeine:
Wednesdays just don't really... Wednesdays don't work.

Jennifer Foley Realtor:
Too busy.

Faeine:
Horrible jokes. I know, and I laugh at my own jokes. It's great.

Jennifer Foley Realtor:
All right. Well, all right, so everybody, so tune in next Friday at 1:00, and we'll be looking forward to [crosstalk 00:22:01].

Faeine:
10:00 AM Eastern. Sorry, 10:00 AM Pacific time. 10:00 AM BC time.

Jennifer Foley Realtor:
That's right. And 1:00 PM Eastern time. And if you guys have any questions or anything burning in your brains, then put them in the comments below, and we will try to answer them.

Jennifer Foley Realtor:
All right. Thanks, guys.

Faeine:
Awesome. Thanks, everyone. Bye.


Episode 2: What To Do With My Kids When I Have A Showing On My Listed House.

The Jenn And Faeine Show EP 2: What to do with your kids during showings during COVID?
Selling your house and keeping your life under control while your house is up for sale, working from home, having kids at home - can be crazy and stressful in itself, this can be a juggling act for sure, like a three ring circus act . Today we are talking about a few ideas that we suggest to our clients when they've listed their homes for sale, have a showing or showings booked, working from home, have kids at home, often as realtors we are asked how to manage and handle showings while kids are at home. We are moms, We are Fulltime Realtors, We are moms in Real Estate. Two Rockstar Realtors here in Canada chatting about overall state of the market in each of their respective areas, what is market like today, challenges buyers/sellers maybe facing . Your hosts: Jennifer Foley, Real Estate Broker/ Realtor in Oshawa, Ontario (just 30 min east of Greater Toronto Area) & Faeine Grant, Personal Real Estate Corporation/Realtor from Abbotsford, BC ( outside Vancouver, BC) www.JenniferFoley.ca www.themodernrealtors.com Tips and tricks of the trade shared here. Subscribe to my you tube channel for weekly tips, every Friday at 1pm on The Jenn and Faeine Show Don't have time to watch a video, subscribe to our podcast.... Moms In Real Estate #momsofrealestate​ #sellinghomes​ #workingmoms​ #momsofyoutube​ #momsof​instagram #realtorlife​ #jenniferfoleyrealtor #bowmanville #oshawa #momlife #realtorlife #whitby

Faeine Grant:

... gray sweat pants from-


Jennifer Foley:

Your what? Your what?


Faeine Grant:

I'm in gray sweat pants from the waist down.


Jennifer Foley:

Oh, well I look like I'm in sweat pants from the waist up but that's because we're on Ontario lockdown here.


Faeine Grant:

Exactly. Yeah. That's what work looks like during COVID right?


Jennifer Foley:

Yeah. Working from home. Are you guys on lockdown too out there in BC?


Faeine Grant:

Not to the same degree, but definitely our office, we're not allowed to go work in our office and bring clients there or anything of that nature. So yeah. They're encouraging us all to stay home basically.


Jennifer Foley:

Yeah.


Faeine Grant:

As much as possible. I have a feeling that our restrictions are going to actually increase over the next little bit here, to be honest, just because the numbers are increasing. Yeah.


Jennifer Foley:

Well, they're posing a curfew here so we will see what-


Faeine Grant:

Oh hey, yep. Quebec has that already. Marty's family, he's from Montreal, so all of his family, they've been on lockdown for a while and they've had a curfew for a number of months now.


Jennifer Foley:

Yeah. So our office too, we've now got our offices closed and our front desk staff-


Faeine Grant:

Yep.


Jennifer Foley:

Are going to be working remotely. And-


Faeine Grant:

Okay.


Jennifer Foley:

So we're going to be doing emails, Zoom, I guess they'll still answer phones and all that, right?


Faeine Grant:

Yep.


Jennifer Foley:

And yeah. And our deposits for offers, we're still doing the same thing we've been doing for months where they can wire transfer them to the TD branches. I mean, I don't know how much longer the TD brand thing will happen but, or they can e-transfer, so yeah. So anyhow.


Faeine Grant:

It's changing the world. It's really going to change the world on how we do things in the future. It really is.


Jennifer Foley:

It is, it is for sure.


Faeine Grant:

Yeah. Yeah.


Jennifer Foley:

So today we're going to talk about the Parent's Guide to Selling a Home With Kids and specifically when you have a showing when you're selling your house and you've got to keep your life under control, it can be a little bit tricky juggling all this, keeping your house clean, getting out for showings because we can't be home for showings, especially during COVID, right? We want to minimize as much contact as possible. And then you add kids to the mix. So holy smokes-


Faeine Grant:

Totally, yeah.


Jennifer Foley:

A three ring circus, right?


Faeine Grant:

So I find that a lot of my clients, a lot of the moms, they stress out even when we're not during a pandemic, even just selling in general or shopping for a home in general with having kids in the house, that's stressful enough. And so I'm finding that more and more and now yeah, moms are like, "Well, what do I do? What do I do with my kids if I have a showing at the house? Or what do I do when I want to go look at the house and I've got three kids? What do I do with them?"


Jennifer Foley:

What do we do?


Faeine Grant:

So yeah, exactly. So-


Jennifer Foley:

What do you tell them?


Faeine Grant:

So, just to back up. Yeah, exactly. Yeah. So first and foremost, I say, you know what? People will understand. I mean your home is set up to the point where they know you've got kids and I think to a certain degree there is going to be a certain level of understanding. But I've been kind of having to get a little bit creative with some of the ideas that I'm telling them. And before I would say, "Oh, go to the mall or go to a movie," and we can't really do those things anymore. Go out for dinner, go for lunch. We can't really do those things anymore.


Faeine Grant:

So one thing that one of my clients did the other day, which I thought was kind of genius actually, is they just piled up into their van or into their car, whatever kind of vehicle they have, they made some popcorn and they said, "Faeine, we're going to be still in the garage because we need to stream our internet, but we're just going to have a movie night in the car off of the iPad." And I was like, "That's perfect."


Jennifer Foley:

You know what? I like that idea because they could even go just onto the curb, right?


Faeine Grant:

Yeah.


Jennifer Foley:

Get out of the garage, go out on the street and still probably have wifi access and do a movie night. That's a great idea. One of the things that I would tell clients, we would discuss it again. These are just recommendations and ideas depending on the clients, but sometimes we ask the clients if there's a possibility of them moving out, like in a hot market like now where we know that the property is likely going to move fairly quickly. So it'll be minimalist in terms of disrupting their life.


Faeine Grant:

Yeah.


Jennifer Foley:

Maybe they go and stay with family or they'd go up to a trailer, especially this time of year when we've got spring and people have trailers, the go-to, right? And basically move themselves from the house, especially a property that we think might be a hot property where the showing numbers may be quite high and it could be a disruption if they're in and out, in and out, in and out and then you got cranky kids and all the rest of it, right?


Faeine Grant:

Yeah, exactly. And I think too, for a market like right now, what we're doing, what a lot of people are doing is they're having two days of showings, right? Have two full days of showings and then they're doing offer presentations. That's just sort of the regime that people are taking here. And so even doing like a little staycation or now that the weather is getting nice they can go camping, even if it's just for a couple of days, right? I find that some people are almost relieved when they say, "What? You mean we can go take a staycation even if it's just in the hotel in Vancouver or whatever?" It's still close, but it's still just being able to actually be able to get away and not feel guilty about it because there's a reason for it.


Jennifer Foley:

Exactly, exactly.


Faeine Grant:

Right? And then if you're not traveling too far, then obviously you're not contradicting the COVID restrictions in your area as well. So, there is something to be said for that.


Faeine Grant:

Another thing that some people are doing is, I don't know in your area if they have these, but some areas where we are, we're in the Fraser Valley so there's a lot of farmland very close by. And so some of the zoos, like the petting zoos, they've reconstructed themselves so that they're drive-by zoos. So if you want to go for like a drive through trip to the zoo, you can actually do that now. But also what I've seen people do too, is just, they go, they know the areas very well, obviously. So they just go and say that there's a sheep farm or there's a bunch of cows or horses, they'll just go and park. And assuming that the weather's nice, but they just show the kids the animals and half the time people understand and most farmers enjoy when the kids are looking at the horses, right? They think it's great.


Jennifer Foley:

I agree. I agree. I think there's lots of things like that where you can take the kids out into nature, right? Hikes and-


Faeine Grant:

Yeah.


Jennifer Foley:

And again, we're not getting paid for any promotion on this stuff, but like All Trails app, you can find out kid-friendly trails, hiking trails, that kind of stuff. So if you have a lot of showings and you want to take the kids out for a few hours.


Jennifer Foley:

The other thing is too, I think you can, as a home seller with kids, you can try to coordinate with your realtor. Like I try to coordinate with my clients. Okay, what time do your kids go to bed? So let's try to minimize any showings after a certain period of time so that they can settle the kids into bed. Or we'll set up a showing schedule, like 11:00 to 7:00.


Faeine Grant:

Yes.


Jennifer Foley:

Right?


Faeine Grant:

Exactly.


Jennifer Foley:

So then that's every day, the parents know that mom is taking the kids out between this time. And yes, go ahead and book the showings.

Faeine Grant:

Yeah.


Jennifer Foley:

Some other things that I've heard parents doing is just basically taking the kids for a walk around the block. I had that the other day. Some clients of mine in a property who basically when we went in to do the photos and the virtual tour and all that kind of stuff, they took the kids out, right?


Faeine Grant:

Yeah.


Jennifer Foley:

For a short walk. And the playgrounds are still open here so that is an option as well.


Faeine Grant:

Yep.


Jennifer Foley:

I know myself, being a dog mom, I have two large 100 pound dogs that when I sold my house I understood the pains of being a seller and having to get out for showings and basically took my dogs with me and we just went down the street. Now in saying that, another tip I would say that I give to my clients is that we'll minimize the length of the showings. Right?


Faeine Grant:

Yes.


Jennifer Foley:

So prior to COVID, we would block out a one hour time. We would overlap those appointments between realtors. Now we've reduced it down to 30 minutes or 15 minutes, depending on how busy the property is, so that also lessens the time. And I think realtors then become better at getting to properties on time so that-


Faeine Grant:

Yes.


Jennifer Foley:

I mean, sometimes that doesn't work. If you're showing 11 homes, that 15 minute window, we always had that one hour window to allow us that travel time. If we got a little delayed at one property, right, then we would stay a bit longer. But that would be another suggestion that I would give to my clients or discuss with them about options, right, to kind of minimize the disruption with kids.


Faeine Grant:

Definitely, definitely. Yeah, for sure, for sure. And I think also I get a lot of moms asking me, "Well, what do I do with all of these big toys that I've got?" As far as hiding the big toys, I mean, there's tons of [inaudible 00:09:46].


Jennifer Foley:

You're talking about when they're listed?


Faeine Grant:

If they're listed, yeah, exactly.


Jennifer Foley:

That's a great topic for our next video-


Faeine Grant:

Exactly.


Jennifer Foley:

So we'll talk about all that. You know what? I think if anybody watching this has any great suggestions for the moms-


Faeine Grant:

Oh, yeah.


Jennifer Foley:

Out there, post them in the comments below. We'd love to hear from you and find out what exactly you're doing with your kids these days-


Faeine Grant:

Absolutely.


Jennifer Foley:

Listed. And yeah. Let us know because we'd love to hear from you. Hit the subscribe button. Hit the like button. Give us lots of love and appreciation to you all for watching this video and stay tuned for next Friday at 1:00 PM for

Jen and Faeine and moms in real estate.


Faeine Grant:

And 10:00 AM Pacific time.


Jennifer Foley:

Oh yes. I keep forgetting that. I'm so sorry.


Faeine Grant:

And before I go, I would just like to give a big shout out to all the moms out there because you know what? I mean, we're both moms, we get it and we-


Jennifer Foley:

We're realtors, we're moms, we're sellers or we've been sellers.


Faeine Grant:

Exactly. Oh yeah. Yep. And we get it. And we just want to give a big shout out to all the moms because we know how fun it is and-


Jennifer Foley:

And [inaudible 00:11:02] put a lot of work into it, right, to make this happen.


Faeine Grant:

Exactly.


Jennifer Foley:

Help your realtor, right?


Faeine Grant:

Sure. 100%. Awesome. Thanks guys.


Jennifer Foley:

Bye.


Faeine Grant:

Bye.


Episode 3: How To Sell My Home Fast? 6 Tips To Prepare Your Home For Sale

Jennifer Foley Realtor (00:01):

Hey everybody welcome. It's Friday, April 23rd, 1:00 PM. Eastern time and


Faeine (00:08):

10:00 AM Pacific time.


Jennifer Foley Realtor (00:12):

Right? So I'm Jennifer Foley and I work in the Durham region, uh, real estate markets here in Ontario. And my,


Faeine (00:21):

Well, my name is my name is Fain grant and I'm a realtor here in Abbotsford and the Fraser Valley area here in British Columbia.


Jennifer Foley Realtor (00:28):

Yeah. Awesome. So thanks everybody for joining us, getting this video after the live recording, um, post any comments below or any questions that you have, we'd love to answer, uh, or help you out with anything today. Fein and I are talking about, um, how to sell my home fast as real estate professionals. We've been asked this question a lot, don't we?


Faeine (00:51):

Absolutely. That's the first thing people ask me is Fain, how quickly can you sell my home? And what can I do to help it sell quicker? Okay.


Jennifer Foley Realtor (00:58):

Right. And so the sell quickly, and for top dollar, there are a few things that are home high that a home sellers should do to increase your homes, uh, marketability decrease your time on the market and attract strong offers. And so today we're going to cover some ways on how to sell your home fast. So,


Faeine (01:20):

You know, what's funny is because I F I find that so much of the magic of having a good listing and having it present properly is that so much work is before that listing actually hits the market before they hit the thing hits the market. I always do a walkthrough. I always take a, I always make a list of things that the sellers need to do in order to be able to have the photos turn out as best as possible. Um, and first thing is hire a professional photo or photographer,


Jennifer Foley Realtor (01:49):

Right. That's important as realtors for us to do that. Right? Like, I mean, literally I wouldn't do, I wouldn't do, uh, you know, home photos without one. I mean, there's the odd, odd exception to that rule, but, you know, that's in really extreme circumstances, but we know the difference between really good photos and, you know, it all starts online now. Not no longer is it when people drive by. I mean, they do do drive-bys, but it all starts online for sure.


Faeine (02:15):

And I find, especially if you're, if you're in a multi-family complex, such as a condo or a townhouse, you don't get that same instant curb appeal if somebody were to do a drive by. So that's where, um, that's where the photos and the presentation online comes in. So, so importantly,


Jennifer Foley Realtor (02:30):

Exactly. And the other tip that we're going to give today, so tip number two is to clean and declutter your home. I Oh my goodness. Right. And I always tell people, you know, what, you're preparing for this move. So why not start packing up stuff that you know, that you're going to take with you, that you're going to move that maybe is your, your family pictures, your grandmas, uh, you know, I don't know, vase that she gave you when she passed on and all these other things that maybe aren't necessary have out. And we want to convert, uh, the home back to being a house when we're selling. Right. So even though it's the person's home and we live with all this stuff, it really is an opportunity to get started on packing.


Faeine (03:14):

Absolutely, absolutely. And a really good way of thinking about it is which I tell all my sellers is that when somebody walks into a room, naturally the, the eye is going to flow from left to right. And think of, you want as many straight lines as possible. So for example, in a kitchen, you have the counter space you have above the cupboards. Naturally your eye is going to go from left to right. And the, the, the, the items that are placed on those straight lines, they catch your eye. And regardless, they might be super cool things to look at, but it distracts the eye from taking that glance at the full room. And it could give the impression that it's cluttered, or they might not be able to like subconsciously the buyer when they're going through it. They're going to get distracted by the extra items that are in the room or on the counter or above the cupboards. Yeah.


Jennifer Foley Realtor (04:06):

I think that's a great tip. Yeah. The other thing too is, you know, you need to pick up selling strategy. So some people, you know, consider selling privately. Um, and you know, that works in some cases, if you have a family member, like, you know, a cousin Bob that has loved your house forever and he wants to buy your house, uh, but generally speaking, you know, hiring an agent is, um, you know, they know how to get home sold quickly.


Faeine (04:31):

Absolutely. It's what we do day in, day out. And we've been doing it for multiple years. Um, and not only that, but we know the markets, we know, um, you know, certain safeguards to how to protect our clients, um, as well as we know what things are actually selling for, and we know market values so that our clients don't get taken advantage of either because some people, unfortunately that's the sad truth is that it does happen


Jennifer Foley Realtor (04:57):

A hundred percent. And there's some private buyers that are out there now that are really, um, you know, I've seen they're buying homes, at least, uh, it seems like about 50% less than what market value is. The other thing that's important if you're thinking about selling to one of these private buyers, if you picked up, uh, a flyer in the mail or anything like that, uh, in your mailbox, then you know how a realtor, there's no cost to you to do that. Right. Yeah. Real true. Before you even signed paperwork with, with a private buyer. Absolutely. All right. So tip number three, tip number four. Yeah. What do we have,


Faeine (05:36):

Um, write a great listing description. So, so many times I've seen one or two sentences in the little description box. Yeah. And how are, how are people supposed to really get a good feel on how I mean and how the actual home is and what all of the features are? I mean, sure. You know, visuals are equally important, however, that description box and what you can fit in there is so it's so useful because all of these things, you may not be able to see by, by just looking at the photos. And so, you know, knowing about the location or telling them about certain upgrades that have been done, or, you know, certain things about the complex or the strata that, you know, you don't know these things, unless you write it all in the description


Jennifer Foley Realtor (06:21):

A hundred percent. So tip number five, handle any repairs. So if there's anything that you need to do to prepare your home for sale, um, it's really important to take care of these things before you put them up for sale, because are things can deter your buyers from, from wanting to move forward. Right? So even, you know, if you have an old, like you bought a house and, you know, the seller disclosed to a previous, uh, ceiling leak or something like that, and, you know, you just, haven't had time to take care of that. It's really important to take care of that because it's going to be a question that's going to come up in the minds of, of a new buyer, right. Looking at it. It wasn't an issue for you. So that's just an example, but, um, it could be the door handles not working properly or as a realtor. Uh, the one I really don't like is when the key doesn't work to go into the, the law might get back to the house, right? Like there's a big tip right there. If, you know, you have a front lock that doesn't work properly, there's nothing more frustrating as a realtor than not having to be able to get into the house and your clients standing there with you. Right.


Faeine (07:33):

Yep. And when you have a home inspection, I mean, all of the little things they all add up and I mean, if it's just one, one or small one or two small things, that's one thing. But the thing is, is that usually it's not just one or two small things, usually it's a bunch of small items that you've been meaning to get to forever. So I always just, I always say to people have a handyman come in, write a little list, have them come in for a couple of days, get all these things taken care of buyers will then see, Oh, wow. This home is completely move in ready. And then if they do get the chance to do an inspection, um, the, the smaller items will be less intimidating because they'll probably only be it just to, you know, two or three, as opposed to maybe nine or 10 small little things. Um, so, and especially for a newer buyer too, that hasn't gone through the process before, it's a lot easier to digest, um, and way less overwhelming if there's only a couple of small things rather than a long list.


Jennifer Foley Realtor (08:26):

Exactly. Yeah. Tip number six is staging and adding curb appeal. So pardon


Faeine (08:33):

A hundred percent. Yeah, absolutely. Oh my gosh. Yeah


Jennifer Foley Realtor (08:37):

I mean, you know, every, every seller, you know, benefits from spending time to spruce up their home, both inside and outside, you know, making a really good first impression is, is crucial. And, um, you know, I think recent, you know, if you look at buyers, you know, if, if the home is stage, then it is important to them when they're making their decision on, on a house that is staged and they can dream of living in that home versus something that's unstaged or cluttered or, um, full of things that, you know, the seller, the dis distracts the buyer, I guess, is what I'm trying to say. That, um, you know, the viruses, I don't, I don't want to buy this house. I can't see myself living here. Like this is not the kind of house I want to be in when really it's personal items of, uh, making that property, a home versus living in Bach to being a house. Right.


Faeine (09:32):

Absolutely. And it's all in the presentation. And, you know, I, if you think of a buyer, like we want to touch all of their senses when possible, so you want to make it visually look nice. You want to make it smell nice. You want to, um, have some music, maybe, you know, playing in the background. And, you know, I think of as many senses as you can touch for the buyer, when they come through, the more emotionally attached that they'll feel compelled to come and buy it, I'm connected to the home. Yeah, for sure. Right.


Jennifer Foley Realtor (10:02):

Yeah. My awesome tips and advice now, let's, let's put ourselves in the position of, um, somebody that has kids or, or pets and the things that are, um, really, really, really important, right. Is, uh, you know, if you have kids, you know, I mean, understandably, there's going to be toys and players who's and all that kind of stuff. So if you do have a designated area for that stuff, my suggestion would be making sure that it looks clean, tidy. Neat. If you have space in the basement, that's a really good spot for it, so that people aren't coming in and it's in your living room and yeah. Toys are overflowing in the bedrooms and all that kind of stuff.


Faeine (10:45):

Yeah. And bit bins and baskets are very popular right now because you can put them side by side. They can have the impression of looking very cohesive and look nice and clean, and you can just still hide the toys in there. Um, and you know, the, some of the larger pieces, I mean, I know I have an eight month old and my living room is full of, you know, exercisers and Dolly jumpers. And, you know, I, I would say for those, if I was personally showing my home, or if I was giving advice, I would suggest taking those out. Um, and either, you know, if the weather's nice, maybe pop them out on the patio or put them in the backyard and tucked away, um, I've also seen some people, um, you know, put them in there, their minivans while they're there doing a showing. And then that way it's, um, it doesn't pull, pull the attention, um, to that buyer who maybe doesn't have kids and that doesn't speak to them emotionally.


Jennifer Foley Realtor (11:37):

Can I, can I bring this up too? Like for people that have children that are still in diapers, do not leave a dis like one of those diaper dispenser things full of diapers, you know, odors those kinds of things. I mean, when we, when we go through the properties with the buyers, I mean, offensive owners like that, um, absolutely. You know, it just kind of turns people off from looking at anything else in a home, um, same with pets, right? So


Faeine (12:07):

Pets. Yep. The litter boxes, Oh my goodness. The litter boxes, even the cleanest of letterboxes will smell. So, um, you know, and, and air fresheners and air diffusers, they don't, they don't cover that. So those things, you absolutely need to take those out of the home and, you know, put them, you know, put them in the garage. But I mean, well, I would advise not to put into the garage cause then that would smell the garage, but I'm trying to set at least take them out of the main living space. Um, but just because people are very sensitive to those kinds of smells as well. And those with allergies too, um, they can pick up, they can pick those up very easily,


Jennifer Foley Realtor (12:46):

Put them in the basement, the litter boxes. Yeah. Yeah. So, and you know, um, sometimes people don't realize too, like odors, like, you know, if you have cats, sometimes you can walk into the front entrance, you can smell, um, cat smells and, uh, or when you walk into the home, it smells like the cats have maybe, uh, been doing something that they shouldn't be doing or dogs, you know, have


Faeine (13:08):

Dogs. Yeah. Slobbery dogs, wet dogs. Yeah.


Jennifer Foley Realtor (13:13):

Doctor said me too, but you know, I mean, we don't realize that those odors are in our homes. So if you're uncertain then ask, you know, ask the realtor. Right. And, uh, yeah. And, and we never meet


Faeine (13:27):

Any sense when we, and I think I find it smells are the biggest, the hardest thing to communicate to clients too, because I find that people really take offense to those kinds of things. And it's not anything against you where your home or your cleanliness or anything like that. It's just that the majority, like, you know, not the majority, but a fair amount of buyers out there, the sensitive buyers are so sensitive, like as far as smells and whatnot. So we want to meet, we want to be able to cater to everybody and


Jennifer Foley Realtor (13:57):

Kind of like cooking smells, not totally cooked fish, you know, whatever different flavors from foods that people are looking. Right. It's, it's kind of along the same idea, so. Yup. Yup. So, well, hopefully everybody found these tips helpful and yeah. Posted in the comments below and, uh, hit that subscribe button, hit the follow button. I will be doing this every Friday at one o'clock. So next week we're going to be talking about how to stage your home. Amazing.


Faeine (14:30):

And 10 o'clock Pacific time.


Jennifer Foley Realtor (14:34):

Eastern time. Yeah. I keep forgetting that. I'm so sorry.


Faeine (14:38):

That's okay. That's all right. Thank you so much, everybody. We looked forward to seeing you then


Jennifer Foley Realtor (14:46):

Bye.


Episode 4: Tips For Selling Your Home During Covid-19

As a homeowner or tenant you may wonder if you can still sell your home at this time? Today's episode of Jenn & Faeine #RealtorMoms Canada Eh show we are talking about how we can safely and effectively show homes during these times during Covid-19.



Jennifer Foley Realtor  (00:01):

Hi, Hey everybody Friday, April 30th.


Faeine (00:07):

It is the 30th.


Jennifer Foley Realtor (00:10):

And we're here today and we're live to talk to you again, but today's topic is going to be Ms. Faeine. What are we talking about?


Faeine  (00:20):

How to safely stage your home and sell your home during this pandemic and what precautions can we take to ensure that you're being as safe as possible when you have people through your home.


Jennifer Foley Realtor (00:34):

Right? So, so when you take a listing, what are some of the things that you educate your sellers on? What are we, are we talking about?


Faeine  (00:42):

So first and foremost, what I do is I tell them, so there's certain things. There's certain ways that you can set up your home that allows minimal touching, for example have all the lights on already so that nobody needs to touch the light switches, have all the doors propped open wherever possible, right. Closet doors as well. Yep, absolutely. So really all they're doing is walking through and they're looking, they don't need to touch anything and it's all there ready for visual, ready to all be seen really


Jennifer Foley Realtor (01:14):

That's right. So tip number two would be making sure that they wiped down all the lights before and after and not, it also includes store handles. So there should be wiping down door handles. And again, by wiping down, I mean, with Lysol wipes or some sort of other product like that, that you know, you can cleanse those, those touch spots, right. Those what do you call them? Like


Faeine  (01:37):

High traffic touching spots, but yeah, yeah, I guess. Yeah, absolutely.


Jennifer Foley Realtor (01:42):

Yeah. Cause I mean, and the other tip number three that I would say is if you can be out of the home during the time that you're, you're going to be showing it whether it be you can go and stay with family or you can go to a hotel or you know, be out for a couple of days while you're going to have showing some, and it's not always possible, but if that is an option for you, then that's certainly one way to reduce down your exposure, right. And risk, you know, knock, knock on wood. We haven't really had any cases that I'm aware of. So things have been pretty safe. I think realtors and sellers and buyers and buyers, agents have been quite safe in what they're practicing to be able to show homes and see homes.


Faeine  (02:33):

Absolutely. is to have, have scent hand sanitizer available right at the front of the door. You know, if you want people to wear masks in your home, have masks readily available for them. Because as we were saying, when you come into a home and the sanitizer is right there along with masks, I mean, obviously I shouldn't say obviously, but I wear masks anyways and it's general practice for people here in BC to masks. But if for some reason, somebody forgets it or for whatever the case may be, if the seller has masks, they're available as well as hand sanitizer that sends us the message, that that's what they want us to do upon entry. And that's what we do,


Jennifer Foley Realtor (03:12):


Right? Yep. So our practice here is, is that yeah, we do. When we give a confirmation for a showing to the buyer's agent that, you know, it is a requirement for masks and to hand sanitize before you enter the home. And, you know, obviously as a showing agent, I'm going to do that after we leave the home as well, just to put cautionary for the buyers. So not just the sellers, but also for the buyers. Right. now another thing we do is we screen, right? So when a buyer's agent books, an appointment, there is a screening tool that we can use. And basically that just says you haven't left the country, you haven't had any symptoms of COVID and you know, there's other things on that screening tool as well. And yeah, so that's another thing


Faeine  (04:02):

As a buyer's agent as well. I find that you know, in the, when we do show homes that aren't easily accessible and we need to turn on lights and we need to open doors and closets and whatnot. I try and have that conversation with my buyers beforehand. That me as the realtor, if you want something opened up, I will be the one to open it up. And then that way it's only me as the realtor, that's taking the responsibility of touching anything. And that's a conversation that we have usually before entering the home.


Jennifer Foley Realtor (04:33):


That's right. That's right. Yeah. So is there anything else that you can think of that that you would suggest?


Faeine  (04:41):

No, I think we've pretty much covered it. I mean, that was,


Jennifer Foley Realtor (04:44):

So we talked about lights on doors, closet doors sanitizing before and after showing with Lysol waves


Faeine  (04:54):

Providing the sanitizer.


Jennifer Foley Realtor (04:56):

Yeah. So hand sanitizing before and after a showing wearing masks, when you enter into the home for both buyers and buyers agents


Faeine  (05:07):

And if anything does need to be touched, have your realtor do the touching


Jennifer Foley Realtor (05:11):

That's right. There you go. So that's yeah. So if anybody has any questions about that, feel free to post them below.


Faeine  (05:19):

Absolutely. Thanks so much. You guys happy Friday?


Episode 5 A Day in the Life of a Realtor Mom

Jennifer Foley Realtor (00:00):

Two. So there we go. I am awesome. How are you? Well, it's so funny because of course we're doing a show about moms as you're doing your lipstick. And I'm talking about my messy mom, but here we go. Well, um, just got back from driving my kids to school and daycare. That's what, uh, what I do every morning. And then, um, yeah, I've got showings today. I'm working on offers. It's uh, yeah, it's busy. It's


Faeine (00:43):

Sure. I know. I just, yeah, I took my daughter with me and we did some, uh, some video stuff. We were putting a sold sign on and getting her to my right hand woman of, uh, videography and marketing while we're homeschooling here in Ontario.


Jennifer Foley Realtor (01:04):

That's right. Yeah, you are too. Wow. And so how has, how do you, have you found that beat like homeschooling, I mean, some people are doing that here, but I couldn't even imagine doing that, especially while working and running a business.


Faeine  (01:17):

Yeah. Well, it doesn't come with those challenges. That's for sure. So our routine kind of looks like we get up in the morning, we get breakfast some days she's on time for school. Cause she starts early. Uh, sometimes she's still in her pajamas, messy hair like that hat. And uh, yeah, I've moved my computer up to our dining room table. As most folks are doing these days. And that way I can keep an eye on what she's doing. Um, and she's also got a tutor to help her go through some of these, uh, challenges of not, um, being in school and that gives her one-on-one support. So that has been great. And um, the whole virtual online stuff is really challenging because even I'm not everybody like sh should not pay attention this morning. They had three students online, like normally issue class. So yeah, it's, it's, it's challenging and it's challenging trying to schedule appointments around that. And uh, yeah. What about you? Well, how old is your daughter now? Anyways, she is a seven.


Jennifer Foley Realtor (02:25):

Seven. Okay. Yeah. So she's not old enough to stay home by herself. I don't think right. That's no, not even close. No


Faeine  (02:34):

With me she's she sometimes jumps in the front of my Jeep. She's driving an IgE, not literally, but like, you know, doing all this crazy nonsense stuff that kids do and yeah, it's just crazy. So, and you, you were before you've been taking your baby with you?


Jennifer Foley Realtor (02:54):

Oh my goodness. Yeah. Well, so, so I, of course, as you know, I, a six-year-old son as well, who's in grade one and thankfully he's in school right now. They're, they're still doing regular school days and then I also have a nine month old baby. And um, yeah, I found that, um, I have been taking baby to, to work with me and to doing some showings and whatnot. Um, I find that during the evening time is when we do so many of our showings because people with quote unquote, regular jobs have nine to fivers. Right. And when they want to go look at properties, it, it tends to usually be on evenings and weekends. So I've had to, um, we've had to hire another, like an evening nanny for the first half of the week while, uh, my, my husband's at work cause he typically works graveyard shifts. So it's, uh, it's kind of like being solo, um, you know, for the first half of the week anyways, but, um, have having, and I hate to say this, but having iPads when you're driving. Um, and when you're doing showings, I find that that has been almost a bit of a saving grace just because, um,


Faeine  (04:05):

Is there anybody else there that can agree with it or not? Right. Like what's the word I'm looking for? I feel like I have COVID brain or something.


Jennifer Foley Realtor (04:20):

Right. Well, green tea, like screen time. Right. And, uh, you know, but I also find that, yes we do. We do want to limit the screen time of course. But, um, yeah,


Faeine  (04:31):

Be real. Let's be real. Let's be real because all your kids, oh, 30 minutes a day and yet then they want to play or they're only children. And then they're like wanting you to come play Barbie or whatever, whatever, all this stuff do they want to call it, they want to, uh, you know, I don't know. They want to go outside. They want to play and you know, just take a big deep breath. Right. And like, okay, let's put aside, we'll do some chalk. And you know, I'm trying to message at the same time. And I'm like, you know, we're in, we're in that, on demand society. So we have to totally responsive. Right. And that's part of our role and our job and, and all that kind of stuff. So yeah.


Jennifer Foley Realtor (05:21):

Well, it's funny because the transition going from having one child to having two children, I found that that was like the transition of having one was, you know, okay. I like we managed. And then of course now having to it's like, okay, you need to entertain one while the other one is now needing also to be entertained and, or fed or give him a bottle or whatever the case may be. Right. Okay. Yeah. And you know, my six year old he's, I mean, I love him to bits, but he talks so much he's going through. Okay. Lovey, just, you know, um, I'm like, I'm trying to talk. He's like,


Speaker 3 (06:05):

Mommy, mommy, look at my game. Cause he's so


Jennifer Foley Realtor (06:07):

Into Minecraft rate and I'm like, oh my gosh. Okay, honey, I love you. Just, you got to stop talking for just one second. Mommy just needs you to stop talking. Right. And then I need to, you know, like deal with my, whatever the case may be on my phone. And then I'm like, okay, okay. What were you saying? And he's like,


Faeine  (06:27):

The same thing happens. Like people saw and look at me and they're like, whoa, cause she's talking so much. And I don't know if that's just because like, I don't know, we're busy and they've got her attention. And so they're like chopping it up or I don't know.


Jennifer Foley Realtor (06:45):

Well, and then, and then, so now I've got the nine month old, my, my younger baby. And he's just in this, he's now exploring his voice box. So he's funny, funny noises. And thankfully he doesn't cry all that much. Like he's definitely not one of those babies that just cries all the time. So I am so grateful for that, but he'll be, you know, baby talking and talking and baby babbling and you know, sometimes these like high pitched screams just come out of nowhere and I'm like, whoa, okay. So if I'm on the phone, if I'm on the line, I mean, I find that for the most time, or like for the most part, people are pretty understanding about it. I always say, oh no, well, sorry. This is what have my son's in the background here. And normally I find that people are pretty understanding about it. Well,


Faeine  (07:32):

I think people are really understanding of it. Like you call to order a pizza and the guy's like that kids battering in the past. And I was like trying to mute stuff and I'm like, I'm like, oh, you're at home. You're working for Walmart too. And he started laughing. I'm like kids. And then I was talking to this guy from Google who, um, uh, like he's his, uh, he's working out of India and I could hear this like BP, BP, like, where are you? Cause we don't have any beat beats here, kid. I write. And I go, I feel, I don't know why I said to him, are you India? Or if he said, well, I'm an E and I, and yeah, anyhow, he says, I'm an Indian. I'm like, oh, that's what I'm hearing those like beat beats. It was the buses. Right. And he's like, well, I was so hot. I'm like, oh my gosh, it's not hot here as like Bergen snow in here. It's yeah.


Jennifer Foley Realtor (08:36):

Oh yeah. It's the world we live in today. Right. It's what we do


Faeine  (08:41):

A hundred percent, you know? And even now like I'm checking stuff, I've got people messaged and I'm checking, oh yeah, this is what we do. Right. You know,


Jennifer Foley Realtor (08:52):

Actually almost, I w to be honest with you, I actually woke up a little bit this morning and I almost thought, you know what, I'm just going to keep baby home today because then it's, you know, like school and daycare or on three opposite sides of the city that I live in. So I have to go from my house to all the way to school, drop my older son off, drive all the way to the other side of town and then go drop my baby off and then come all the way back home and circle back and come back to my home office here.


Speaker 2 (09:21):

Then you have to like schedule times and all that kind of stuff, right? Yeah. Yeah. Go ahead.


Jennifer Foley Realtor (09:31):

Oh, well I was just going to say like, it's, you know, it can be kind of a lot because all of the hours don't all happen at the same time. Right? Like I've got


Faeine  (09:44):

Like their school hours or their daycare.


Jennifer Foley Realtor (09:46):

Right. And so school, I don't know what it is there, but when I was in school, school ended at three 10 there, none of this two 20 stuff. And so now I have to go pick, pick my son up for two 20. And of course the school buses don't go like the daycare school buses, don't go to my, my son's school. So I have to go pick him up, drop him off to daycare. And he's got like, you know, it's like a sun, it's a, it's called sun hang dose. So it's like a martial arts daycare. And then, you know, then I have to hang out there for a little bit. Then I have to go pick up my other son up and then take, pick my, pick them back up from sun, hang don't, bring him back home and then give them to the nanny who stays until eight o'clock at night. And then sometimes, you know, I don't even see either of them all day, except for when we're driving. And I'm like, okay, get dressed,


Faeine  (10:32):

Get going, wait, wait, you see them when you sneak in late at night. Oh, let me check on you. Are you okay?


Speaker 3 (10:41):

It's so cute when you're sleeping and not tell her


Faeine  (10:48):

It's dark. And when they see you dessert, when you come home, right.


Jennifer Foley Realtor (10:54):

Yeah. Yeah. I know. And oh God, there's a lot of guilt that comes along with that though. You know? Like it took me a long time to really, you know, cause I mean there's no, there's no maternity leave for realtors. I mean that


Faeine  (11:10):

Right. I know. Yeah. Well, if anybody out there can relate to what we're talking about and you've got this far in our video, that is awesome. We love you and give us a huge thumbs up or some perhaps remotely you're watching us on. We would greatly appreciate it. And we'll see you all next Friday at one o'clock absolutely 10:00 AM.


Speaker 3 (11:40):

You love it. Bye everybody. We'll see then. Or nobody.



Episode 6: 6 Questions to Ask Yourself Before you Sell your Home

Jennifer Foley Realtor (00:02):

So here we are. We're live again. And, uh, this is the Jennifer Dean show and, uh, what's the day today. Oh yeah. There's kids in the background. So Friday, June the fourth, 2021. And, uh, we are joining you guys live so welcome. Yes, buddy. All right. So today day we were talking, oh my God, where's our board here to, so episode six. So today we're going to talk about, should I sell my house and six questions to ask before you sell? And, uh, this is a great topic because, you know, there's a lot of people that are questioning today, whether or not they should put their home on the market. Um, you know, considering life circumstances, financial circumstances, um, you know, do we have enough, uh, you know, do we have an opportunity to do this, um, you know, costs of selling ability to afford a new home, all those kinds of things, right?


Faeine (01:02):

So besides local housing market info and, um, seasonal trends that can impact, uh, home sellers goals, um, you know, there are some important questions to ask yourself, so Fain and I are going to cover those, those questions today. So I'll let you take it away. What's the first thing that they should be considering. Yeah. So I think it's, you know, first and foremost, it's, um, it's, you know, is the, is it the right situation? I think that this is almost like a good assessment in order to figure out and determine whether or not it makes sense for you to make that move right now. And the very first thing you should be doing is finding out how much your home is worth, because ultimately, how do we do that thing? How do I, if I'm a homeowner, how do I find out how much my home is worth?


Jeniffer Foley Realtor (01:50):

Absolutely. That's a great question because a lot of people are still, um, you know, looking at their tax assessments and they think that that's going to be their market value. Their tax value is their market value. And that's a huge misconception, um, for property taxes. You mean the assessed value that comes in for property tax free tax? Yes. Yes. Thank you for clarifying. Yeah. Um, but I, I, the best way to get a current market value analysis evaluation of your home is to call a realtor and have them come in, right? Somebody could have a realtor come in. Typically these realtors are happy to do these at no cost. And I think that that is a huge misconception that people have as well. They think it costs money to have a home evaluation done. And that's not really the case. Sometimes people have two or three evaluations done with two or three different realtors just to get different opinions.


Faeine  (02:43):

And it's almost like a job interview, right? Not only do you get to meet a potential realtor, that's going to be selling your home and hopefully helping you buy your home as well. But it will also give you a few different perspectives on different personality types of realtors, because that's face it. Every realtor is different and, um, you know, a few different, um, you know, opinions of value as well. I think, no, I want to, I do want to add to that though, that if somebody is, um, looking at a value for certain purposes, then you know, there's other avenues for that. So, you know, our, our values and our presentations on market value are more for the purpose and intent of listing your home. So if you're looking to refinance your home, if you're looking, you know, if you're getting separated or divorced and you're looking for value for division of assets, or you're looking for, um, an opportunity to buy out the other partner and, um, you know, then an appraiser would be a more appropriate route for that.


Jennifer Foley Realtor  (03:47):

It's not a realtor. And I know that, um, you know, I've heard from, uh, people, potential sellers that, you know, they're being advised to get three opinions on value, but that's, for all these other purposes that are not, um, relevant to us, because our role is more when we're assessing value or presenting value on a property than it is more, uh, for the purpose of an intent of listing your home. Absolutely, absolutely. Well, and that's just it, right? I mean, we're, you know, and you know, when we're looking at, um, you know, assessing the situation to see if it is the right time to sell, um, that's, that's essentially what we're looking for. Yeah. But no, I agree a hundred percent if you're looking to refinance or doing anything, um, that is a little more behind the scenes then. Yeah, absolutely. That's where, um, most lenders or lawyers are gonna watch a third party appraisal company as well.


Faeine (04:44):

But, uh, that's a very good point. Um, so the next thing that we need to talk about is sometimes sellers will ask themselves, do I have enough equity to sell my home? Right? There we go. Yes. Yeah. So typically you want to have enough equity in your home to pay off your mortgage, or at least be able to port that mortgage, uh, cover your costs for selling and your costs for moving. Right? So, um, most people, especially if you've owned a home for any period of time and you haven't over leveraged that property by refinancing it over the years and taken out most of that equity to pay off debts or whatever else you might've done with it, then, you know, most people do have substantial equity in their homes. It's not really, um, an issue. Um, but, uh, yeah, that's something that, uh, you know, so you might ask yourself, well, what is home equity, right?


Jennifer foley Realtor (05:36):

So it's the percentage of your home that you truly own. So, you know, based on, uh, the value of your home minus all the debts against that, um, then what you have left right, is, is what, uh, what that is. Yeah. And I think also, um, you know, calculating what you're going to need for a down payment on your purchase as, and here in British Columbia. I'm not sure if you guys have the same thing, but we have something that's called property transfer tax. So every time you purchase a home, there's a certain percentage of a tax which can add up quite a bit to thousands of dollars every time you do purchase a home. And that's something that you're also going to have to take into consideration when determining your, your equity as well. And also mortgage penalties. That seems to be, um, a little hidden cost in there that can sometimes be overlooked.


Faeine (06:24):

Um, so that, that covers point number three, right on how much will it cost us on my home. So you're going to have real estate commissions. You're going to have, uh, the closing costs typically on a sale here in Ontario, and probably the same for you because you're talking about a property transfer taxes on a purchase, but on a failure, you're going to have real estate commissions plus the applicable HST. Plus you're going to have, um, lawyer's fees and any mortgage penalty fee. So again, we can't calculate the mortgage penalty fees. That's something that you have to obtain from your, your lender, whoever your, your banking is, uh, through, but certainly keep in mind that when you're having that discussion, that you can discuss with that lender about, um, being able to port that mortgage, uh, or is it better to pay that penalty, get a new mortgage at better rates, all those kinds of things, right.


Jennifer Foley Realtor (07:17):

And then on the purchase and, you know, that's where taking into consideration exactly what you said, think that, uh, you know, you're going to have PST on, on the purchase, right. Um, which is usually very minimal, but you're going to have lawyers fees. You're not going to have real estate fees in most cases. Um, because those are already covered, uh, through the seller when, when they're selling, they're offering out a commission to the realtor to bring a buyer, um, what else have we got on there? So land transfer taxes, non transferred. Yeah, exactly. Yup. And also the adjustment costs for property taxes as well, too for the year or any other adjustments could be oil tanks or propane tanks. So I always like to say, put a little bit extra aside for that. So that was a great point. So I think that was a really good to bring that up in a downward market.


Faeine (08:09):

I find that these questions hold a lot, a lot. These questions are very important questions to ask. Um, the first three that we've covered in a downward market. I mean, obviously as we're going into an upward market, you're at a home is gaining, you know, as prices are rising so quickly, like they have been, um, obviously your value is going to be a lot higher, but you know, there are markets where we see prices decreasing and for somebody who hasn't been in their home for that long, that's a really important question to ask, do I have the equity and how much is it going to cost, et cetera, et cetera. Yeah. So I'll let you cover point number four. Absolutely. How long will it take to sell my home such and, yeah. So, um, typically when you know there as, as your realtor does the research for you, um, what we typically do is we look at other similar homes which are listed on the market and also recent sales.


Jennifer Foley Realtor (09:05):

And we can actually see, um, how many days on market they've been listed. Um, we can also pull property history and see how many times they've been relisted, if that's the case. So usually by, you know, looking at, um, previous trends and similar home sales and, you know, that really does give us a good indication of roughly how long it will take to sell your home. Um, and of course it has to be in, you know, the, the, it has to be in a similar market condition, um, when we're comparing, you know, the other sales of course. Um, but, uh, but yeah, based on, based on trends and activity, we can usually determine a pretty good timeframe, um, for how long we can anticipate your home will be for sale. So I also want to add like here in Durham region, on our Toronto real estate board or Durham region, real estate board, um, we can access information that gives us an average for all the areas across Durham region, um, or Toronto or Northumberland county.


Faeine (10:03):

I have access to all of that info. So then I like to pull that out. So if I'm, uh, working with a client in a certain area like Bowmanville or Oshawa, or, uh, Newcastle, or any of those areas that I cover, then I want to be able to say to the seller, okay, here's some, here's some stats, here's some real hard facts on, you know, based on the number of homes that have sold in a certain period of time. Here's what the average number of days are. And certainly, you know, there's variances in, in the marketplace and, uh, from one marketplace to another in terms of how quickly that will sell. Right. And obviously as realtors, we have no way to know for sure exactly how long it will actually take. So, you know, we can't confirm that with, with our crystal balls or anything like that only we had those crystal balls.


Jennifer Foley Realtor (10:54):

Oh my goodness. Right. So we do have, we, we have, we have similar step programs that do provide us with those. And I find here in the freezer valley where I'm located is that every little pocket is so different. So, you know, oftentimes I look at the stats and I think, okay, well, these are so broad. And they don't really necessarily dig into the, to the bones of every particular property types. So we have to go a little, you know, one step farther to, to kind of really pull the accurate stats, but some, but yeah, that's essentially, that's essentially what we do. That's the process we look at, um, you know, what certain trends are happening in similar, similar market conditions and similar properties. Right. So a fifth question that a seller might ask themselves is, should I make repairs? So, you know, as a seller.


Faeine (11:45):

Yeah. Right. So, um, you know, again, you're not required to make repairs unless they're, you know, but if there's any issues with a home, then certainly about something you're going to want to disclose to a buyer and, uh, you know, that would be through your realtor. And, um, you know, because we don't want to have any, um, backlash on that. So, um, but certainly minor repairs or painting a home or, you know, staging a home, all those kinds of things are not requirements they're just, uh, suggestions or recommendations. And, uh, yeah. So, you know, one of the advantages, one of the advantages to actually making the repairs I would say is that, you know, it's going to give buyers, uh, more confidence to buy that home. And also to, you know, depending on the type of buyer for your home, you know, they may not have the funds readily available to do that.


Jennifer Foley Realtor (12:41):

That's a great point. Yes. And I find that if the, the list of fixes are long that newer buyers, or, you know, shaky buyers, or, you know, not experienced homeowners. And I say experienced as in, you know, fix it and, you know, being, being savvy with home repairs that potentially could scare people off. Um, and I think also really if a whole needs a lot of work, then the price is going to have to be reflective of that. And even if you do price it, um, with that in mind, people will still want to deduct those items off of your already previously lower price listing. I find that that does happen quite a bit as well, too. So, you know, I think it's, you know, assessing your personal wherewithal, how much energy you have, how much time you have, what's your, what's your strategy. I think as long as you plan out a good listing and selling strategy with your realtor, um, you know, that's, that's the key, right? Um, uh, the French fries are beeping. So


Faeine (13:48):

We got like one minute, we've got to cover a point


Jennifer Foley Realtor (13:50):

Here. So I've got French fries cooking in the oven here for personally the most important question. How should I sell my home? Yes, it is so higher. If you're looking to sell an Auburn for BC and hire Jennifer Foley realtor, if you're looking to sell your home in the region of Durham or Durham region and Northumberland county. So, uh, that would be Oshawa would be Bowmanville, Newcastle, port hope, Coburg area. We've been more than happy to help you, but in all seriousness Chillowak mission, maple Ridge surrounding areas in British Columbia here. Fraser valley, Metro Vancouver. Yes. Thank you so much. Okay. Go get your French fries and we'll see everybody next Friday. All right. Thanks.


Faeine (14:38):

Done.


Episode 7: How much do I Need for a Condo/ Townhouse/ Detached in Abbotsford, B.C or Oshawa Ontario?

In this video, we are going to talk about the average home prices in Oshawa and Bowmanville, Ontario, and what type of property can you buy for around $700,000. My name is Jennifer Foley Realtor and I'm a Real Estate Broker in Durham Region (Oshawa, Bowmanville, Whitby), here in Ontario. I'm here to answer some of your questions about buying or selling homes in Oshawa and Bowmanville. Covering things like the average price of a home in Durham Region, based on recent stats put out by our local real estate board. My co host is Faeine Grant Realtor in Abbotsford, BC is here to answer questions about buying or selling a home in Abbotsford, BC. Talking about what you can expect to buy at various price points. www.jenniferfoley.ca #realestate #bowmanville #oshawa #durhamregionrealestate #oshawarealestate #bowmanvillerealestate #bowmanvillerealtor #oshawarealtor #oshawalife #bowmanvillelife


Jennifer Foley Realtor (00:00):

Here we go, Hey guys, it's Friday, June the 18th, 2021. I'm Jennifer Foley, realtor in Durham region, just outside of Toronto, Ontario covering the areas of Oshawa with the Bowmanville new castle. Um, and I'm here with [inaudible].


Faeine Grant (00:19):

My name is France. I am a realtor here in the Fraser valley in British Columbia. So, um, we are about 45 minutes east of, uh, Vancouver. And, um, I'm based out of Abbotsford, but I cover all of the Fraser valley. So, um, Abbotsford, uh, Chillowak mission and, uh, Langley, and then even going into maple Ridge as well, too. Awesome.


Jennifer Foley Realtor (00:44):

Today, we're going to talk a little bit about, um, what our average prices have been in each of our respective areas and, uh, what buyers can expect if they're, if they're looking to buy a home, whether it be in my area here in Jersey region, uh, in Ontario or in your area in Abbotsford BC. So I'm gonna let you hear it. So,


Faeine Grant (01:06):

Yeah. So how I've kind of looked at it is that, you know, I kinda, I kind of broke it up into categories, right? So, um, you know, our first kind of our first kind of milestone, like sort of the, the, the lowest cost homes, uh, in Abbotsford, I find are they going to be the condos that are age restricted, so that are primarily for 55 plus, uh, people that are over 55 basically. Um, and so I find that those are the ones that you're going to get for anything 300,000 in less. Um, sorry, the camera just went weird there. Am I still lying


Jennifer Foley Realtor (01:42):

Or I just put you on by yourself.


Faeine Grant (01:45):

Okay, awesome. So, um, yeah, so basically if you have a budget of about 300,000, you're either going to be, um, in the category of everything, a lot of what you're going to find online is going to be for ages 55 plus, but there are also some options, you know, in some older buildings, um, you know, 1970s, 1980s buildings that can still get you somewhere in between 300, 400,000 and older buildings aren't necessarily bad, just so everybody knows what, what can, like, what can, what can between three and 400,000 get you in, um, in Oshawa?


Jennifer Foley Realtor (02:23):

Um, not a whole lot.


Faeine Grant (02:26):

It used to be that 300 K was like, Hey, you can decent condo for that right on.


Jennifer Foley Realtor (02:34):

No. Um, yeah, no, you can't in, in the areas that I work in, primarily Oshawa and, um, the Bowmanville Clarington area, um, you know, you're looking, I'm just looking at the last two weeks of sales is actually only one sale. Uh, that's a 212,000, but that is not even really, um, something to even talk about because that's like student housing. So like a little, um, flat, but everything. I mean, for the last two weeks, I mean, your sales start at 400. So you're looking at a condo apartment, two bedrooms, uh, in the downtown Oshawa area, uh, for Bowman, the lowest sale was in the low four hundreds. That was actually for a two bedroom bungalow, which actually is pretty low considering. Um, you don't see a whole lot under six to be quite honest. Um, a lot of the condos, uh, whether it be a townhouse, they are edging up in the five high, five hundreds, uh, standard range and, and going up from there.


Jennifer Foley Realtor (03:43):

So we're not seeing a whole lot, um, in terms of the last, uh, housing report that came up from our local Durham region association of realtors from May, 2020, uh, the average price for a detached home in Clarington, which is Bowmanville, new castle Curtis, and some of the outlying areas 964,561. You were looking at Oshawa, you're looking at 847,000, um, dollars for that. And condos again, Oshawa average price is 455,000 and clearance is 523,000 for, for a condo apartment. Now, condo town is a little different. Um, the, uh, the price point was average debt 7 0 6 and then for Oshawa 5 36. So, I mean, there's some variances there, depending on what sold and the locations though. Uh, but anybody looking to get into the market should expect that they need to at least, um, be fairly honest with themselves that they're going to be looking at buying and over 500,000. Right. So,


Faeine Grant (04:53):

Yup. Yup. Same here, you know, um, in BC we have something, um, for first-time home buyers. I'm not sure if it's the same in Ontario, but it's called the, um, the first time home buyers grant. And so basically if a first time buyer purchases a home under 500,000, then they don't need to pay the what's called the property transfer tax. Um, and you know, it used to be that first time home buyers could get into a townhouse and they're like, Hey, you know, it's okay. They can, they can kind of just bypass that condo stage and get a townhouse for 4 99, but that's not the case anymore. Like if you're, um, you know, to get a decent, a decent condo, you're lucky if you can get something for under 500,000 for two bedroom, that's relatively new. And if you're looking at a townhouse, my goodness, you're looking at at least five 50 and they go right up into eight 50 here. So, um, yeah.


Jennifer Foley Realtor (05:45):

Do you have a lot of, um, do you have a lot of townhouses or condos? I mean, like, is that the majority of your marketplace or is it more detached homes or what, what specifically could I expect if I was moving there? What could I expect in terms of, I'm sorry, I'm just trying to disconnect my AirPods from my phone here. Um, yeah, so, um, of course, uh, yeah, go ahead.


Faeine Grant (06:16):

Places that I primarily work in. So Abbotsford, Chilliwack and mission. I would say that in Abbotsford, it, when I first moved out here, it was just about 10 years ago. Um, there were hardly any condos at all. Like a lot of the, the property here was predominantly townhouses and single family detached. Now, of course, over the last 10 years, because there's still so much land here, lots of condo buildings have been being built. There's lots of new construction here. So a lot of them is, um, is definitely something that's more common. And I think that that's kind of, you know, how it is throughout the valley. Now seeing with Chilliwack, it's kind of the same thing out there, right? Prices are a little bit softer, but really not that much mission on the other hand, um, is primarily single family detached and townhouses. The only condos that are, that I can really think of in mission are, um, the 55 plus and, and catered towards seniors, uh, in my marketplace here in Abbotsford.


Faeine Grant (07:15):

Yeah. You really have a healthy mix of everything, which is, which is nice. We're getting, we're getting a lot of, um, I don't know if you have this there, but like their land strata. So a lot of, um, single family detached, but they're in kind of like a gated communities. So you're not like, yeah, you're not sharing walls, but, um, typically your backyard in your property lot is going to be a little bit smaller and that's how there, the developers are able to fit. Yeah. They're able to build that one or two extra hosts in the subdivision by making it a bare land strata.


Jennifer Foley Realtor (07:47):

We don't call them that. Um, but they're a little bit different. Most of our properties are detached or a link style home. So a lot of two stories in Oshawa, Bowmanville and Newcastle. Um, you've got some older bungalows, some of the newer subdivisions you're gonna find bungalows. Um, I would say for somebody that's maybe moving out of the city out of the Toronto area that is looking to capitalize on, you know, selling, uh, selling their home in Toronto for a good chunk of money and, you know, keeping some in their bank account and maybe moving east, which is what we're, we're experiencing now. And, um, ensure in your area, you are as well.


Faeine Grant (08:27):

Exactly with Vancouver. People are coming east yeah. Into where we are. That's right.


Jennifer Foley Realtor (08:32):

Yeah. So we don't have a lot of condos. So if somebody's looking for condo living, that's not really something, we have a lot of here more and more that are cropping up and coming up, but the majority of what's being built and what is already established here in terms of resale homes, two stories, somebody attached, um, townhomes, you know, typically the townhomes find are in the 15 to 20 year range and newer, um, a lot of, uh, like I said, two-story homes that seems to be the bulk of our, our sales here is


Faeine Grant (09:07):

Paying. Okay. Yeah, yeah.


Jennifer Foley Realtor (09:10):

Right now houses are very hot semi detaches wounds, which is they're attached by one wall to help, to separate homes. So they share a common wall. That's a hot price point as well. That, yeah. And the detached homes, I mean the average for Durham region is actually, we finally reached a million dollars, which unbelievable really because, um, I was, I just sold a house in a great neighborhoods, um, just off harmony road in Oshawa here. And the neighborhood sales a couple of years ago were, uh, so for 2019, the average price was around the low five hundreds and unbelievable that, that neighborhood now, not because there's anything wrong with the neighborhood, but just shockingly the price acceleration. Um, it's now sold in the mid 800 to 900 range. And so those homeowners are really, really reaping the benefits, but you know, the cons to buying in this market right now and will things change, who knows, right. I mean, we have no idea, but we know that money is cheap. So interest rates are still historically low. And, um, it's a great time to be, um, investing in your real estate future, whether you're building your portfolio or looking to move up, you know, there's a lot of people that, you know, different reasons that, um, COVID has changed the way people view their homes and move. Right.


Faeine Grant (10:42):

Yeah. Well, it's crazy too, because it used to be that being an Abbotsford for 800,000, you could get like a decent detached home. And now it's like, just for your basic home for a million bucks probably doesn't have a suite or it needs a lot at work. Right. And you know, the homes that do have suites there, you know, in decent neighborhoods, I mean, they're all going for, you know, one point, gosh, I want to say like 1.3 to 1.5 and then the high end is like one, five and up. Right. And, um, it's just, yeah, like it's, it's re it's shocking how prices have gone up even just over the last year. Like, wow. It's, it's mind blowing. I have to keep checking the prices all the time because


Jennifer Foley Realtor (11:28):

Too, right.


Faeine Grant (11:28):

Yeah. Like if you miss, if you miss an area for like a month say right. This tiny little pocket, you know, I have to, I find myself, I'm like, okay, I better go check and just see what things have done over the last four weeks. Right. Just because it's changed so much.


Jennifer Foley Realtor (11:42):

Yeah. It's constantly changing. Right. So I do find that our marketplace, um, I don't want to say it's softening, but it's, it's softening in that you don't have the competitive offers. The, we did a month ago or two months ago, or even three minutes ago. Interesting. So we still have, you know, uh, properties if they show well, and they've been staged and you know, they're in that entry level, semi-detached townhouse home. That's quite popular right now. Then they may get, um, oh, and also too, you know, if they're pricing it ridiculously low. Yes. You know, those properties will, these buyers that seem to jump in and, you know, just pay astronomical amounts of money. And, uh, but yeah, those homes are still getting a good number of offers. But then the other ones that maybe, I mean, for me in the last month, I've been negotiating on properties where I'm not really competing against anybody else. Wow. Yeah. And same with, on some of my listings, we may not be getting, um, tons of offers, but we're still selling over, are asking and we're pricing it at fair market value. So buyer demand is still there. It's just not the degree. It was so


Faeine Grant (12:57):

For sure. Yeah. We're seeing, we're seeing less competitive offers, but, um, it depends on what type of product it is. Right. Like if, um, you know, yeah. If it's like, um, you know, just if it's like priced at like 4 99, for example, you get all those first time home buyers that are trying to, you know, stay under the $500,000 price point. And that's always going to be popular here no matter what, just because of the rules of the property transfer tax exemption. But right now, um, the single family detached with a rental suite underneath is, um, that's our hot, hot priority. Like hot,


Jennifer Foley Realtor (13:31):

Just not a lot of them.


Faeine Grant (13:32):

Yeah. Yeah. We've, that's like, that's the hot, that's what everybody is, is kind of wanting right now. Um, I had a buyer that fought with them night, 14, 14 other offers. So


Jennifer Foley Realtor (13:45):

Are those properties vacant then that they're competing on those? No. So they have tenants in them?


Faeine Grant (13:51):

No, not necessarily. Like, so typically owner lives upstairs and then downstairs has a tenant.


Jennifer Foley Realtor (13:57):

Um, but I'm seeing it as the properties that have those types of scenarios where there's two units in our area here in Oshawa and vulnerabil new castle during the, uh, you know, you're seeing, uh, those properties that have two units, whether they're legal or, or, um, you know, they just have a second kitchen, those cities that are vacant or owner occupied and vacant, um, second, like lower level, then those offers are those properties are selling for huge amounts of money, you know, like 800,000 plus or minus on either end of that. Um, and if they have tenants in them, typically they're not getting that much money because the rents are so low. Right. So


Faeine Grant (14:42):

I see what you're saying. Yeah, absolutely.


Jennifer Foley Realtor (14:46):

When some of these properties, um, you know, they're, they're much lower. So then that impacts the ultimate, um, selling price right. Through these properties because the new owners are looking at well, what's our, what's our expenses. What's our costs going to be. And how much are we getting in? Right. So, well, I think we're running 15 minutes now. So if anybody's made it this far, certainly I can be found at Jennifer Colu, realtor and love to hear from you. So DM the words, a hot market, and we'll know you got this far in our video. Thanks so much for watching and you can reach me at my website, the modern realtors.com and also on Facebook, Instagram, and come visit our page on Instagram as well to what's it called? Fame. It's the Jenny Fein show. All right. Thanks guys.




Episode 8: The Pro's & Con's to a Home Seller Selling to a Private Buyer/ Investor

THE JENN AND FAEINE SHOW EP 8 Today we are talking about The Pros & Cons of Selling your Home to A Private Buyer Or Investor Have you had thoughts of selling your home privately to avoid real estate fees, avoid having to do renos & have a buyer buy your home "AS IS", purchase a "cash" deal "without conditions", to avoid no open houses, no stress & to make the sale "easy and simple"? Watch this episode of The Jenn & Faeine Show to hear a Realtor's view on the pros and cons to this type of transaction with a private buyer looking to buy your home. Selling a home can be complicated and contacting a Real Estate professional to help you with your biggest asset should be your first step before you do anything. If you have contact with a private buyer or private investor, be sure to speak with a Real Estate Professional about the value of your home in today's market. It might be worth the time and worth knowing the potential money you could be leaving on the table and not putting in your own pocket.

#homebuying #homeselling #sellingahome #homeinvestment #realtor #jenniferfoleyrealtor #bowmanville #oshawa #whitby #durhamregion #ontario

www.JenniferFoley.ca



Jennifer Foley Realtor (00:00):

Right in June 25th. Hey guys. It's uh, Friday, June 25th, it's 1:00 PM. And a welcome to the Jen and fiends show. Thanks for watching and tuning in. So today today's topic we're going to talk about, have you had thoughts of selling your home privately to a private buyer here in Ontario? Um, I'm seeing more and more fame where private buyers are, um, out there, private investors where they're looking to buy, um, properties. And, um, so, you know, they're putting out postcards, they're putting out mailers and, uh, they're making visits to people's homes who are looking to sell. And, um, some of the, uh, idea behind that is that the, um, the home seller will potentially be selling their property as is, as I understand it. And, uh, they won't have to do any rentals to get their home ready for sale, and they can have a buyer who will purchase their home as is, and they get a cash deal out of this without any conditions.


Faeine (01:08):

And basically they can avoid having open houses and no stress. And these guys make these guys and gals make the deal, uh, easy and simple for these home sellers. It's interesting because, um, you know, like you were saying, so you've got actual people that are advertising this where it's not, it's not here in BC yet that I've seen anyways, what we're seeing as far as private sales go, we see a lot of people that are super frustrated with, um, losing out and losing out on all of these multiple offers. And so they say like, okay, well, I'm just going to go start knocking on doors and just ask people directly if they want to sell their house. And then they pick and choose kind of which area they want to be in that being said, you mentioned that you actually have people that are putting out some pretty heavy advertising around Ontario.


Jennifer Foley Realtor (01:58):

Is that right? That's right. So in the area that I work in, in Durham region here, I have personally seen these ads. There's a lot of, um, street signage, you know, where they put those little metal posts in the ground and I've seen stickers on like stop signs, um, you know, call me, uh, you know, we'll buy now whatever, like they all have different sort of slogans, but the indication is, is that they'll pay cash and they'll buy it as is. And, um, those kinds of things. So just wanted to touch a little bit on that because I think as a home seller, I think you're doing a disservice to yourself to not at least have a realtor come in and speak with you and educate you on what the value of your home is. And the reason I say this is I did have a property that I was called into list last year, and they were considering selling their property to one of these private investors, um, who was looking to buy their home, converted into two units and, um, buy it at a price that was probably in, around not probably, I mean, the number, I can't remember the exact number, but it was at least half of what we sold it for, if not a hut.


Faeine (03:16):

So somewhere between 150 and 200,000 less than what we actually sold it for when we did put it to market. Wow. Yeah. Yeah. And recently I have seen, um, another one of these properties that they, um, have been working on where the property, again, sold for at least 150 to 200,000 less than it may have, should it have hit the, the, uh, the market with a realtor. And so, you know, my, my belief is that, um, a lot of these people are offering prices and yes, they may offer cash. But the way that I see it as is that the price tag that they're offering is a lot less than what a home seller may, may sell it for on, on the open market. And certainly I want home sellers to understand that there's, you know, given the fact that there's a lot of people out there that are, um, interested in buying these properties as private investors and private home buyers, that you're not always getting the best deal, right?


Jennifer Foley Realtor (04:23):

So we have a lot of buyers that are buying properties without conditions that, you know, there's no financing, they're paying cash. Um, and you know, they're buying as is, this is what we've been seeing in this, this crazy real estate market in the last year or two. So, you know, again, I can't emphasize enough that as a home seller, if you're even thinking about selling your home to somebody privately, that you really, really need to talk to a realtor first and get a good indication. If it's, if it's a family member that you're looking to sell to, and that family members, you know, you're giving them a little bit of a discount because you're saving on real estate fees and, you know, those sorts of things, then that's different. Um, but you know, when you're talking thousands and thousands and thousands of dollars that a potential homeowner is missing out on for a lot of people, you know, that's one to two years wages, right.


Faeine (05:21):

And if you're somebody that's older or retired or in financial distress, um, you know, not able to carry the property anymore, or if you're just looking for a quick sale, I mean, our average days on market these days are really, really low, um, compared to, you know, the past. So, you know, I'm just going to stop here for a second, because when you said, um, financial distress, I'm looking at one of the companies that you mentioned earlier, and I won't say their name, but, um, I'm looking at their website right now. And that's part of what they, they advertise is if you're, if you're experiencing financial distress, if you want to save on realtor commissions. So it's almost like they're, they're hitting the people when they're at a vulnerable time in their life too. It's like, oh yeah, somebody might think I'm, I'm experiencing financial distress.


Jennifer Foley Realtor (06:14):

Maybe I should just sell my summer clothes. I think if somebody has been in their home for a period of time, they lose track of where housing prices have gone, especially in the last year with the percentage hikes. Um, even from last spring to this spring, anybody that bought last spring is at least in my opinion, about a hundred thousand dollars more than what like that home value is at least a hundred thousand more than what it would have sold last spring. Like I have clients that bought in the 600 range that, you know, it would be near impossible, you know, today in today's market to purchase it at say 600,000, it'd be at least seven, if not more right. Depending on the property. So again, these are exact, but you know, certainly the percentages have gone up so much. So I think that, um, you know, so in that one example, like I said, um, these guys came in and they offered them in the low two hundreds.


Faeine (07:16):

And I said, if I said to this seller, if you're going to sell it for in the low two hundreds, I will buy it. Right. This is an, and they looked at me and said, yeah, we kind of thought that this was a little bit low. Yeah. And so can you imagine, so we ended up selling it, um, closer to the 400 range. Like I think it was like three 80. Um, initially we had an offer for four something. I want to say four 20, but there were some stuff that came out of the home inspection that, uh, you know, we had to tend to. And so anyhow, put it back on the market, all that kind of stuff. But I think the point is this, again, I can't say this enough, that if you are thinking of selling your home and you want to avoid real estate fees, you want to get it sold quick.


Jennifer Foley Realtor (08:11):

Um, you know, all of those things that yes, if you, um, bring a private investor or a private home buyer into your home, then take note of what they say. Um, but do yourself a favor and have a realtor come in, um, and give you a price or an evaluation of what they think in today's market, you will get for that. And I think that goes along with what you're talking about with the product. Yeah, well, exactly right. And I think the, you know, the moral of the story too, is that, um, you know, you kind of have to think, think about it from the other's perspective too, is if something sounds too good to be true, like something like this, like, oh, it sounds amazing. They're trying to, you know, trying to think, oh, I can go this alternative route. We've got think, okay, these are these, what's their motive.


Faeine (08:57):

What do they get out of it? Okay. So they're running they're if they're advertising all of this, I mean, they're basically running a business. So of course they're going to want to get, you know, the proper margins to make money. And that's, it, that's an exhausted once they fix it, once they put it back on the market, some of them are not putting it back on the market. Some of them are converting them to two units. Right. And so if they're buying a property at 400,000, which is nearly unheard of you, and I did an episode last week and in our marketplace that we do not have any detached homes that you can purchase under 500,000 really. I mean, maybe few and far between, and it might be a very small one bedroom house that is, you know, a postage stamp on a decent lot on average.


Jennifer Foley Realtor (09:46):

Right. But even at that, I just had some first time buyers that bought a property for 550,000 and that we almost thought we weren't going to get them into a home at that price point. So, um, you know, it, it's almost unheard of. And like, I would say, if your budget is not over 600 to get into a property, like a detached home, then, you know, it's, it's very slim chances that you're going to, um, in today's market. So again, if somebody comes into your home and you have say a two-story a 1400 square foot single car garage, and they offer you 400, please call me first because I will buy it from you. Right. I'm so happy that I have the heads up from you now that there's people that there are companies like this that are starting to advertise. I mean, we get the odd, you know, um, private sale company, but definitely not to, um, the same degrees that you're getting in Ontario.


Faeine (10:44):

So I think everybody here in BC and especially the lower mainland, um, you know, keep an eye out for, for advertising because it's just a matter of time before we get them out here. If you've got them in, it's heavily happening out there, it's just a matter of time before they make it across Canada and come to BC because usually things in BC and sorry, start in Ontario. And then they jumped right across to the other side and then starting BC. Right. Just because the state is so expensive, both in, in both provinces here. So at least something to watch out for both. Yeah. Both province and to your, um, your comments about people going door to door in terms of trying to find a seller directly, who's willing to sell to them again, you know, that's, um, you know, can be advantageous, but I've also seen situations where home sellers have sold it for a lot less because they don't realize the market.


Jennifer Foley Realtor (11:38):

And, you know, let's say they paid 150,000 for it. And I don't know, 1995, you know, then like, I mean, and somebody comes to you and says, I'll give you 500 or 450,000 for your two story that could be going for about 700,000. Now that number might sound appealing to you because you have no. Yeah. Right. And you have no like no real knowledge that that's under, under selling and grossly under selling, and you're leaving thousands and thousands of dollars on the table. So, you know, I mean, I think in that case, buyers are trying to get a jump on getting something that's not on market. And I can see the advantageous point to that. And I would even hope that a buyer would want their realtor involved in that as well, because, you know, I mean, that's part of why the government kept us as essential services because the government did not want buyers and sellers doing transactions.


Faeine (12:43):

I think that they, um, you know, the legalities that go around that can be huge as well, right. There is why realtors exist in that so that we can absorb the liability. And I mean, we're held to a higher standards. Um, you know, just as the, you know, they educate us and they're, you know, like we're, we're meant to know more than the average person about real estate. This is our profession. This is why we absorb such well, we do it day in, day out. Right. So, you know, so if anybody has any questions about that, feel free to reach out to us. You can DM me on Instagram at Jennifer Foley realtor, or you can, um, reach out and connect with me at 2 8 9 4 6 0 2 5 6 4. Thanks for watching 7 7 8 3 4 7 4 6 6 3. And my website is the modern realtors.com. Awesome. Yeah. Thanks everyone.


Episode 9: What does $X buy you in Abbotsford, B.C & What does $X buy you on Oshawa, On?

EP 9: THE JENN AND FAEINE SHOW What does $x buy you in Abbotsford, BC versus What does $x buy you in Oshawa, Ontario IG @jenniferfoleyrealtor @faeine.themodernrealtor #sellingahome #buyingahome #subscribe #like #follow #youtube #facebook #realtormoms #realtorlife #thejennandfaeineshow #abbotsford #britishcolumbia #oshawa #ontario #durhamregion #jenniferfoleyerealtor #themodernrealtor #faeinegram #jenniferfoley#homeseller #homebuyer #buyahome #sellahome #durhamregionrealestate


Jennifer Foley Realtor  (00:01):

Hey guys, it is Friday, July the second, 2001, or to believe


Faeine (00:08):

It's already the second. Right. And we're


Jennifer Foley Realtor (00:11):

Halfway through the year, which is awesome. I got something really cool to show you. Yeah, look it behind me.


Faeine (00:21):

Oh yes. Someone's organized


Jennifer Foley Realtor (00:28):

Realtor. Oh my gosh. Okay. Now I can see that. I love it. Oh my goodness. That's amazing.


Faeine (00:34):

Maybe the next time I'll put the Jen and Bain show. I


Jennifer Foley Realtor (00:37):

Love it. I love it. I'm thinking it's a back of what's behind me and I see my son's blocks like right there. He built me a tower yesterday when I was working and your mom, I made it right here for you just in case you want to use it later.


Faeine (01:02):

So today we're going to talk about what we can buy in average seabirds, uh, BC and, and Oshawa Ontario. Yeah. Yeah. So are you ready to go?


Jennifer Foley Realtor (01:14):

Yeah, absolutely. Well, I'm, you know, Jen, I was going to ask you what can AI, like as an example, what can eat 50? Get you like what, in the realm of like the 800 to 900 mark, what can that get you in Austin? Well,


Faeine (01:27):

That is a great question. So you know what, we're going to showcase a listing that I have, and I'm just going to screen share and show you, um, what we've got here. Let's just share this screen and we have this beauty rate here. Can you see that?


Jennifer Foley Realtor (01:46):

It's pretty small.


Faeine (01:49):

Okay. So let me see, uh, um, all right, well, uh, let me see here. So screen, let's try it again. Um,


Jennifer Foley Realtor (02:10):

I don't know. You gotta love technology. Hey, I wonder, I wonder if it will work on my screen. Should we try


Jennifer Foley Realtor (02:23):

A second? Okay. So we've got this triplex, this is a three unit in Oshawa. So this is my listing. So this is just interior photos. So by TriFlex we mean three apartments and yeah. So on the upper floor, we have a two bedroom on the main floor. We have a two bedroom. The layout on these is pretty much the same for the main floor and the upper floor. You've got two bedrooms on the left side and you've got your living room and Eden kitchen on the right side. And it's got a four car, uh, double-wide driveway. Um, and it's got double car garage. So this is the basement. It's a little smaller and it's a one bedroom down there. So for 850,000, uh, you get this beautiful, um, apartment building, which, you know, ideally suited for somebody who, uh, is looking to get into home ownership and, and get into maybe buying their first investment property, you know, either living in one and, uh, keeping the existing tenants in the other two, or looking at, uh, taking over the whole building for you and your family. I mean, what a great opportunity, right? So just, uh, tell me, you know, I'm curious because you have a listing as well. So let's talk about what 2.3, four, 8 million buys you in Abbotsford BC.


Faeine (03:56):

Exactly. Yeah. So this one is a beautiful listing that I've got, um, it's actually on, um, a two and a half acre parcel. Um, let's see. Hmm. It's not sharing it. Is it? Nope. Share screen, screen number two and share, and it's not working. All right. So, um, it's yeah, I've got, well, I've got it on ML MLS, um, through my program here. Um, oh, you know what it says, Chrome has lost permission to share your screen. Hang on. Oh, I got to go to security and privacy. Okay. System preferences. Oh my gosh. I guess we should have tried this beforehand. Right. Well, tell us, grow your list. Yeah. Okay. So we'll just do that. Um, or


Jennifer Foley Realtor (05:15):

Maybe in the last number two and I'll pull it


Faeine (05:17):

Up. That's a great idea. Okay. So it's MLS number are 2 5 9 6 9 7 1.


Jennifer Foley Realtor (05:28):

Oh, hang on. I lost it again. So our 2 5 2 5 9 6 9 7 1


Faeine (05:39):

Is that, what's the address? It's 3 7 1 61 Wieland road.


Jennifer Foley Realtor (05:47):

Okay. So I'm gonna share the screen.


Faeine (05:52):

Let's do that. I see. Um, and I'll make sure I have my system preferences changed the next time we do it. Okay. Can we see that? Yes. Yes. Wonderful.


Jennifer Foley Realtor (06:11):

All right. So tell us about this problem.


Faeine (06:14):

Oh, we lost it there. Um, so this one here is while you're getting it. Yeah. So this one is, um, it's two and a half acres almost. So it's 2.47 acres. And as you can see by the photos, it's, it's completely surrounded by, um, yeah. Uh, that was a drone, a drone shot that we took, but yeah, it's completely surrounded by nature and greenery. Um, this is a part of Abbotsford that's called SU massive mountain. And as you can see, it's very much situated right on like the mountains. So it's, you know, the heart of, of what you think about BC with the lush and green and valleys and mountains. This is exactly what you get. Um, and, uh, so the house itself, it's a five bedroom, four bath, um, custom built by the previous owners, um, to, to suit the property. Um, it's 4,800 square feet and you've got a ton of room in there.


Faeine (07:10):

And, um, yeah, so that's the master bedroom there. That's the unsweet, which is the size of a, of a condo downtown Vancouver. And this is the whole lower level there as well. So right now they're just kind of using it as like a rec room, but some, you know, they've got a sauna, they've got their home-based business there. That wraparound deck goes all the way around the home. Um, they actually also have, um, yeah, there's the floor plan there. They've also, um, constructed, um, like a back, like they have two driveways going on the property essentially. Um, simply because they've got, um, I believe it's a concrete business there. And so they have, um, like their business trucks that come in on the backend. Um, so you've got like your nice front driveway where you and your guests would use that on the main, you know, on the regular basis.


Jennifer Foley Realtor (08:01):

And then the, um, the back driveway is what you would use if you have your, your machines and your work truck, basically. So yeah, it's a beautiful piece of property. The views are absolutely amazing. Um, especially this time now when the flowers are in bloom and everything you go there and it's just, it's so quiet. It's unbelievable how quiet it is. There's only five houses on the whole street on Wieland road. There's only five houses. So it's like, you're really are right in the middle of, um, of MaineCare. So it's a really nice spot. Beautiful looks beautiful that maybe


Jennifer Foley Realtor (08:37):

Looking to move somewhere within BC or out of province, right. This is a great property to, uh, to get into,


Faeine (08:47):

Um, two and a half acres. Yeah. Yep. So private yet, you've got like a front part on the back part. So yeah, that's why I tried to some drone pictures just to really kind of give the effect, but, um, but yeah, a lot of people that are from out of province that are used to seeing like a flat terrain, um, when they come to BC, this is what they, you know, they're, they're very captivated by that and definitely the surrounding that, um, would, would fit that bill for sure. So, uh, so yeah, it's a beautiful, beautiful home. That's awesome. Yeah. So


Jennifer Foley Realtor (09:18):

We were going to touch a little bit too. I don't know if you pulled up any numbers, but, uh, I certainly did for the Oshawa area when you're considering what you can buy in our area for between 800,000 and 850,000 last month, I looked at the recent stats, uh, on our local MLS board. And, uh, what I found was mostly detached homes that you can purchase within that price point. Um, a few of these homes. So out of the 81 sales for Oshawa in Durham region, then we had 68 of those were detached and yeah, four of them were somebody attached. The nine of them were townhouses, right. When you're looking at the average type of detached home, you're looking at a three bedroom, three bath home with either mostly a single car garage, but some of them have a double car or a car and a half garage. So, and the taxes are about 4,600 a year. So if you're looking to, to make a move here, then, uh, that's something to keep in mind. Right. And what about your area, if you're yes.


Faeine (10:18):

You know, I didn't, um, I didn't actually pull the numbers. I don't have them in front of me, but, um, what we did, we did another video and you had done a bunch of, I had all the numbers for last one. Yeah. But I mean, really, um, you know, you're, you're, you're home with a suite that's, you know, built within the last 20 years or so. Um, like your typical single family home, that's relatively new and, you know, large size with a suite unauthorized probably, um, or, or, or legal. It doesn't, um, there's, there's a lot of both in, in Abbotsford, but I would say that it can range from about a million, 1.1 to about 1.3, 1.4. Um, some of the nicer homes that are built in the last 10 years, you're looking into, you know, some of the nicer areas, 1.4, 1.5 even, um, you know, some of the, uh, some of the building lots that are, um, you know, large enough in, you know, 9,000 square feet approximately, um, you know, we're seeing those go for a million.


Jennifer Foley Realtor (11:18):

Right. So there's definitely, um, yeah, we've seen a huge surge in pricing. Um, in Abbotsford specifically, it used to be that Abbotsford was like, you know, the affordable place and, uh, it's yeah, over this last year, the prices have, have gone up dramatically, um, you know, for, for the million dollar price point. Um, it is still possible to find a home single family detached, but you're probably not going to get a suite, um, with the, you know, just to have that, um, that mortgage help her. And, um, you know, if you're looking for a townhouse, I mean, their townhouses are very popular. Um, so I would say that, you know, you're probably looking for something, you know, decent and, um, with, with at least two parking stalls, um, you're probably looking at about 500, 5 50 to about the six or 700 range. Um, you know, some of the larger townhomes can range for up to 909 50, even so very similar to us too. Yeah, yeah, yeah, for sure. For sure. And there's different parts of Abbotsford too. Right. So I mean, you know, the little pockets and everything, and there's, you know, some of the newer developments and some of the older homes as well, too, so it really just depends on where you're going, but yeah, I would say as an overall whole, that's kind of what you're looking for, for sure.


Jennifer Foley (12:35):

All right. That's awesome. All right. Well, it's been great talking to you, so yeah, we'll see you next Friday. Absolutely.

Episode 10: What did you do before Real Estate

The Jenn & Faeine Show Ep 10 - What the heck did we do before Real Estate Jennifer Foley, Real estate Broker / Realtor is a full time Realtor / Real Estate Broker in Durham Region, serving clients in Oshawa, Bowmanville and nearby areas (Ontario). Jennifer became her own Real Estate Boss Babe in 2004 when she left her 9 yr career of working as a Registered Nurse. Making the transition was not an easy one, giving up financial security and steady pay for her and her family. She decided to take a leap of faith and jump in with both feet, quitting her job as a nurse and starting a career in Real Estate. Fast forward 17 years, she still has a love for this business 👩‍💼. She has never looked back! Faeine Grant is a Realtor in Abbotsford (British Columbia) who was working as a front desk admin at her local Real Estate office when she was approached by her brokerage and encouraged to get her license. From there she got her license and never looked back. #bossbabe #realtormoms #realtormom #realtorlife #durhamregion #oshawa #bowmanville #ontario #abbotsford #bc #britishcolumbia #career #careerchange #careerchanger #realtor


Jennifer Foley Realtor (00:00):

All right guys. It is Friday, July the ninth. Hey Payne. Hi. How's it going? How are you


Faeine (00:07):

Doing? Doing really good. Really good. Yeah. Awesome. Awesome.


Jennifer Foley Realtor (00:13):

Saturday, July the ninth. And, uh, our topic for today is what'd you do before real estate cause you, and I don't really know what we did before for real estate. Absolutely.


Faeine (00:22):

And it's so interesting to find out what people's past lives were before they got into the world of real estate.


Jennifer Foley Realtor (00:29):

Let's start by telling us a little bit, how long have you been in real estate? So if I, so I have been


Faeine (00:36):

In the business for about eight years now. I started out as an assisted watching, going before that I actually started at the front desk at a very small Remax office, um, up in Northern BC. And, um, and yeah, I was, um, you know, that's kind of how I got into real estate because the owner of the brokerage up there was like, Fein, you should get your license. And at the time I was still in college and I was like, it was a part-time thing, but that got me. Um, this would have been in like, oh, four


Jennifer Foley Realtor (01:12):

Licensed at the same time.


Faeine (01:13):

No, I didn't get licensed until 2010. Oh yeah. So I went from like front desk reception to like, um, I was an assistant for a couple of years before actually becoming licensed. And then I transitioned from the assistant position to, um, a team member position with the, the team that I was working with. So, so yeah, I got to see a lot of behind the scenes, um, before, before actually becoming licensed. And uh, yeah, so, I mean, it definitely got me, got my feet wet before actually diving right in.


Jennifer Foley Realtor (01:47):

So you knew what you were getting into that


Faeine (01:50):

Did yeah. Picked up, um, you know, as far as like contracts and you know, like, I, I just learned so much from, you know, before like actually how to be a realtor because they don't teach you that kind of stuff in, in realtor school, in the corner,


Jennifer Foley Realtor(02:04):

It was life lessons along the way, right.


Faeine (02:07):

Yeah. Yeah. But so you were licensed in 2004 then, is that right?


Jennifer Foley Realtor (02:11):

I was licensed in 2004. So I'm into my 17th year, this August selling my or selling, um, oh God. Now I'm having a total brain fart. Um, I'll be, uh, yeah, August it'll be seven. Yeah. So celebrating, celebrating is the word.


Faeine (02:32):

Nice. Nice. That's amazing. And so what did you do before real estate?


Jennifer Foley Realtor (02:37):

So before real estate, I was working as a registered nurse and uh, yeah. Oh,


Faeine (02:45):

Shocking. That's like totally two different sides of the, of the brain, right? Like you're working like healthcare and then real estate, which are like two completely different worlds. Well,


Jennifer Foley Realtor (02:55):

Yeah, but they do sort of, um, you know, they overlap terms of skills that I bring to the table from being a nurse. Um, you know, in terms of listening skills and assessment skills and all those kinds of things. And sometimes I have had nursing clients where I can totally relate to explain something to them, um, from a nursing perspective to transition it into a real estate perspective. And, um, but yeah, so I'm still actually licensed, um, in the province of Ontario. Oh my


Faeine (03:26):

Gosh. Wow.


Jennifer Foley Realtor (03:30):

So technically I could still call myself a registered nurse, but I just can't practice. So I'm a, non-practicing registered nurse and, uh, but yeah, I always figure, I worked so hard for that, um, designation that I don't want to give it up. And I'm very proud to say that I'm a, an RN. Yeah. And, uh, so I did that for, oh about nine years before I got into real estate. And when I, when I left nursing, I met a broker. His name was John Hill and he was the broker owner of a Remax office and wonderful, um, inspirational motivational, uh, broker of record, happy that I started with him, but he just said, basically we don't hire part-time agents. So if you're going to do this, then you need to quit your job and jumped in. So that's good. I was, I was a single mom and, uh, so yeah, I jumped in and, uh, away we went and I always tell people wasn't easy in the beginning. Certainly, you know, I never looked back and I was determined that I was going to be successful in this career. And yeah. So that's, and I always tell people too, like I like to share that I'm a nurse because I know that on the levels of trust, people, view nurses as like way up here and the trust level. Yeah. You can't see that way and salespeople are down here. So I always joke with people, I say, well, I've gotta be somewhere in the middle. Right. And, uh, so yeah.


Jennifer Foley Realtor (05:03):

What about you? What did you, where are you going into this, this real estate world?


Faeine (05:09):

So, well, I was actually, um, I was going to school. Um, I was actually pretty young when I started becoming, you know, like when I kind of got into everything, but I was, um, after high school I took a few years off, you know, just to kind of live life or what have you. And then I was,


Jennifer Foley Realtor (05:25):

That's what we should call it. It's just living life wildly.


Faeine (05:31):

Yeah. I left and I, I, you know, kind of moved around BC a little bit just to kind of, you know, I was born and raised in Vancouver, so it was kind of like very, um, very busy city, like, and so I wanted to kind of experience what small town life was like just a little bit. I moved around a little bit to, uh, yeah, different, different parts of BC. You got to experience kind of different, you know, just completely different environments. And, um, I was at the bank for a while. There was a bank teller. Um, I realized very quickly that that was so monotonous, um, that I did not, like every day, it was just like every day was the same thing, same thing, same thing. And, um, I needed, I realized very quickly that I needed something a little more, um, you know, fast paced and interesting and,


Jennifer Foley Realtor (06:22):

And real estate certainly is that either be really fast pacing, you're crazy busy, or it can be like, it was a snail and there's nothing going on, especially when you're, you're new in the business. Right. And you're trying to like chase after every bone that is out there. Right.


Faeine (06:43):

Yeah. So we went back to school and then that's kind of, they had like an internal, like to the, to the business school that I was attending. And, um, yeah, they had a, like the Remax office had an internal job posting for, you know, part-time reception slash you know, assistant. So that's how I got, that's how I got into the Reeboks and that's how I got into real estate. Wow.


Jennifer Foley Realtor (07:04):

That's great. Right. That's grounded experience between working at the bank and I'm working in a real estate office and then jumping into being a realtor. That's all right. So yeah, that's great. So, all right. Well that's all, that was our episode today. We want to talk and share with everyone about what, what our past lives were before we got into, I mean, I've been doing this a long time. We've got 20 years combined experience. So if there's any topics you want us to cover, then feel free to leave a comment below. And we'd love to,


Faeine (07:39):

I think, because I was thinking, okay, we're both so busy. You're, you're like just coming off of an appointment and I'm just going on to an appointment. And we're like, okay, well, this is what we're talking about. We committed to you in this video. Right. Well, thanks for watching.




Episode 11: Becoming a Real Estate Agent in 2021

EP 12: THE JENN & FAEINE SHOW. In today's episode long time Real Estate agents Jennifer Foley and Faeine Grant discuss becoming a Real Estate Agent in 2021 and what you need to know, Alot of great Tips given, especially for those looking to become a real estate agent. #realtorlife #realtors #realtormoms #oshawa #bowmanville #whitby #courtice #durhamregion #showinghomes #balance #worklifebalance #boundaries #abbotsford #britishcolumbia #jenniferfoleyrealtor #faeinegrant

Jennifer Foley Realtor (00:00):

You're talking go. I was just going to say, my day is absolutely ridiculous today. So in BC here, it's 10:00 AM


Faeine (00:10):

Just getting started. My day is just


Jennifer Foley Realtor (00:11):

Getting started. I just drove the kids to daycare and day camp, of course, because it's a weekend or summer. It's Friday. It's Friday. Yes. Yes, it is Friday, but you know what? It's not really a Friday. I like


Faeine (00:26):

Friday. It doesn't matter when you're a realtor right. Everyday. This is my busiest days.


Jennifer Foley Realtor (00:32):

So today's kind of like, it's almost like my Monday today. Um, anyways, I'm looking at my schedule then. I'm probably not going to be done. I'm going to be non-stop throughout the day until about nine 30 or 10 tonight.


Faeine (00:43):

That's good. So you guys pick up the kids and all that. They're not going to be in daycare until then, or they,


Jennifer Foley Realtor (00:49):

Um, no. I've, I've made plans for today. Yes. Yes. I've picked up


Faeine (00:56):

A couple of appointments this afternoon, too, so yeah. Yeah. So today we're going to be talking about some, uh, tips that we have for people that want to get into the real estate business. And especially if you're a mom, uh, to get into the real estate business. And, uh, you know, it's something that you have to juggle, you know, being a realtor who is on call and on demand and scheduling appointments, and also doing all your marketing and all your research and keeping up on housing markets and what's happening and all that other good stuff. So, um, yeah. So, you know, if you could say anything, what would be your first tip thing for, for somebody?


Jennifer Foley Realtor (01:42):

Um, so, you know, first and foremost, and I think that, um, this is important, no matter, no matter who you are, I think it's defined a mentor or find some kind of, some kind of person who inspires you almost like, um, see if you can either find somebody online, like how we do with Tom ferry. I mean, we coach of course with Tom ferry and that's who inspires us. Um, but I also think it's really important to find somebody who's


Faeine (02:08):

Local. So what you think, somebody


Jennifer Foley Realtor (02:12):                                                                                                                                                                                                                                                                                                                                                           

In your office, whether that be like a managing broker or, you know, a team leader, but somebody who can really spend some one-on-one time with you, um, to not only show you how to, I mean, learning like the contracts and the business side of things, um, or, sorry, I should say like the legalities of certain types of things. That's, that's one side of the business, but


Faeine (02:33):

There is a team join the team. I think if I was gonna start over again, I would join a team. Yeah. I would pick one that, uh, is doing very well and I would learn the basics from them, how to present it all over again. That's what I would do. That was the only thing I would do is I would definitely interview with different brokerages and different firms and find out what they have to offer. And, um, I think the training, the training is really key when you're, uh, when you want to get started and where you want to build your roots


Jennifer Foley Realtor (03:11):

And every different brokerage is going to have their own forte, right? Like there's some brokerages that are, you know, they're not, they're not meant to take in brand new realtors and kind of start them from the ground up. They're more for established agents, I guess you could say. And then there's some brokerages that really have built, built their brand and their, you know, their, their whole structure on bringing in new agents and really focusing on how can we get these new agents into the business and how can we get them trained and how can we show them how to work the business and, um, you know, um, you know, cause there's the legality side of things. And then there's the business side of things, right? In both of those two things are very important.


Faeine (03:53):

It's really important to have a brokerage that has your back, right? I mean really business and you need somebody that's willing to be there and be on call for you. The other thing I think is if you do choose a brokerage that, um, you know, there's certain things you like about it, but maybe the training is lacking that I would definitely say getting a business coach is, uh, something that's very beneficial and, uh, can get you on the right path. And, um, I think you need to work the people that, you know, right. So that would be another tip is, you know, don't be afraid to get on the phone, uh, make those calls to your people. Um, I know a lot of times realtors think that, uh, you know, they're, it's hard to ask their friends and family, you know, who, who might need their assistance or their services, but really, and truthfully that is the bread and butter of our business, right. We need to


Jennifer Foley Realtor (04:46):

Secret agent, right? Like let people know inadvertently whether it be through social media or through mail or through, you know, um, you know, car advertising or best bet. Like if there's, so everybody has their, everybody finds what works for them, as far as letting everybody know that you're a realtor and


Faeine (05:07):

One realtor doesn't work for another, right. That's absolutely starting to find your niche. Right. So for me, um, you know, I'm really good face-to-face and getting in front of my clients and having visits with them and that kind of thing. Um, other people are really good at open houses or, you know, talking to complete strangers and still sitting for business that way, whether it be through, um, making phone calls or those kinds of things. Right. So don't be afraid that, you know, what works for one person doesn't work for another, um, another thing that I don't want to forget is that, um, you know, there's enough business out there for all of us. Right? Absolutely.


Jennifer Foley Realtor (05:48):

Absolutely. I agree with you. And a lot of people, I think, especially with like geographic, like, um, densely populated areas that one realtor of has kind of taken over so to speak and we call that geographic farming or geographic farms. And, you know, if one person, like there can be more than one person that has, you know, a good portion of the market share. And like you said, there's enough business out there for everyone. And one realtor might not be the right fit for, for that person. Right. So, um, it is good to have the variety and, you know, the, the, the, the saying find your tribe. That's like, there's a lot to be said for that, for sure.


Faeine (06:27):

Yeah. And I think another thing that's important, especially if you're getting started is keep yourself educated. You know, I mean our, our real estate, uh, boards do a great job of allowing us the opportunity to have different training sessions, uh, throughout the year. So I think it's very beneficial to dive in deep on that stuff and, uh, try to learn your face off as much as you can.


Jennifer Foley Realtor (06:50):

Absolutely. Absolutely. Whether that be, you know, with new rules and regulations that are being implemented, or even if that's just knowing your market, get on the hot sheets every day, see what sold, see what's active, um, one year ago, right? Like, do your research, know your market, figure out your niche and know your market extremely well. And knowing the stats, knowing your numbers, that's going to give you the confidence to answer all those questions when anybody throws it at


Faeine (07:19):

You. That's right. And I think if you're, um, a mom, I think, you know, you have to have resources available to you that if you need to work on the fly that you can, um, I think once you get established, then you can sort of tailor your time management a little bit different. One thing I learned very early in from, um, a seasoned agent when I first started was to run your business, uh, around your life, not your, or no, sorry. I got that wrong. So run your life around your business. No, yes. Right. So that was always a philosophy I, um, took, you know, grab, hold of and, and sort of, uh, lived by that when I was working, because it spoke a lot of truth to me, especially because when I got in this business as a single mom, you know, um, it, it was very challenging to me.


Jennifer Foley Realtor (08:13):

And sometimes you get bullied by other agents. Sometimes you get bullied by clients, um, you know, and never let somebody get in the way of, you know, those kinds of things when you have family responsibilities and things like that. So if you have somebody that you can tie into that can help you out with, you know, if you've got to go somewhere on the fly, which is often what we, you know, have happened. Um, but setting boundaries, I guess that's where it comes down to, to, you know, around all of that. That's really key. So yeah,


Jennifer Foley Realtor (08:46):

Like resonating, if there's one thing that actually, honestly, that I could take as advice, best piece of advice is what you just said, run your business around your life. Like, there's so much truth to that. And I wish somebody had told me that when I first started, because when I first started, I didn't have any kids. And I was, you know, like I just, I did this 24 7 and that was okay. Cause I had the, the drive and the energy for it. And I think the biggest, um, you know, one of the biggest challenges that I've faced is, you know, going from being able to work 24 7 to all of a sudden now having a baby, and then that was life changing. And then you kind of get used to that and then having another baby, and that was life changing. And now I have to, and I'm like, oh my gosh, right now, you know, husband and two babies.


Faeine (09:30):

Right? Like, and, uh, and, and yeah, it's, and I think, you know, not even realizing it, I've actually been running, like modifying my business around my life now because so much of my business involves my kids. Like I do, you know, children's events in my neighborhood and I bring my kids along and I just meet people. And honestly, like, that's worked amazingly well. And most of my family or my clients are young families as well, too. So if they have babies and Hey, I'll bring the baby, they can still sit in their little chairs and stare at each other while we're doing the showing. It's great.


Jennifer Foley Realtor (10:04):

I think one other thing too, a lot of people, and I struggled with this a long time myself is balance right. Finding balance. And everyone used to say, oh, do this and do that. And you know, you'd hear different business coaches say, do this, do that. And finally, I heard one say, one day they'll never be any balance. And it was like, thank you, thank you. Somebody honestly said the truth here. That, yeah. Yeah. I know. But you know, you try to, again, work your business around your life. There's, there's certain pluses and advantages to being an entrepreneur. And then, you know, the other spectrum too, is, is that, you know, there are great demands and it's a, it's a constant work.


Jennifer Foley Realtor (10:47):

Absolutely. Absolutely. And I think, you know, striving for like, I think in the past too, like a lot of the coaching that I had before, you know, you know, this is what, when I first came into the business, right. Um, a lot of influence was all male-based and they don't, you know, it's just, I mean, I'm not saying that there's not single dads out there. There's not dads that are very involved. Of course they are, but it's very different. I think, you know, being a mom on that side of things and you know, they're always like, oh yeah, find the balance, find the balance. And you feel like such a failure when you don't feel like it. Like, gosh, you know, I'm really trying hard to find frigging balance here and it just is not happening. What am I doing wrong? I feeling something, no, you're not mom, you know, like perfect balance. And you just have to, you know, just do your best and just understand that sometimes you're going to be more family, um, you know, heavy and other times you're going to be more business heavy. And that's just kind of the way that the business goes


Faeine (11:42):

Well. And even if you're not a real estate, you know what, that's life, well, I'm going to, I'm going to end us on this one last piece of that. I'm going to give, and you may have one too, is that I learned a long time ago from some of my senior agents never get attached to the outcome.


Jennifer Foley Realtor (12:02):

Uh, yes. 100%. Holy moly. Yeah. Never get attached to the outcome. Yeah. Yeah. Things can change all the time and you just gotta be okay with that. You gotta like, Hey, things are fluid. Right. And that's just how it goes.


Faeine (12:15):

Yep. That's right. All right. Well, thanks guys. Thanks for watching. If you guys have any questions, please feel free to reach out to us. Just post a comment below and we'll get back to you.


Jennifer Foley Realtor (12:28):

Thanks everyone. Bye.



Episode 12: Why is it Important to work with an Area's Local Real Estate Agent?

Jennifer Foley Realtor (00:00):

You're talking go. I was just going to say, my day is absolutely ridiculous today. So in BC here, it's 10:00 AM


Faeine Grant (00:10):

Just getting started. My day is just


Jennifer Foley Realtor (00:11):

Getting started. I just drove the kids to daycare and day camp, of course, because it's a weekend or summer. It's Friday. It's Friday. Yes. Yes, it is Friday, but you know what? It's not really a Friday. I like


Faeine Grant (00:26):

Friday. It doesn't matter when you're a realtor right. Everyday. This is my busiest days.


Jennifer Foley Realtor (00:32):

So today's kind of like, it's almost like my Monday today. Um, anyways, I'm looking at my schedule then. I'm probably not going to be done. I'm going to be non-stop throughout the day until about nine 30 or 10 tonight.


Faeine Grant (00:43):

That's good. So you guys pick up the kids and all that. They're not going to be in daycare until then, or they,


Jennifer Foley Realtor (00:49):

Um, no. I've, I've made plans for today. Yes. Yes. I've picked up


Faeine Grant (00:56):

A couple of appointments this afternoon, too, so yeah. Yeah. So today we're going to be talking about some, uh, tips that we have for people that want to get into the real estate business. And especially if you're a mom, uh, to get into the real estate business. And, uh, you know, it's something that you have to juggle, you know, being a realtor who is on call and on demand and scheduling appointments, and also doing all your marketing and all your research and keeping up on housing markets and what's happening and all that other good stuff. So, um, yeah. So, you know, if you could say anything, what would be your first tip thing for, for somebody?


Jennifer Foley Realtor (01:42):

Um, so, you know, first and foremost, and I think that, um, this is important, no matter, no matter who you are, I think it's defined a mentor or find some kind of, some kind of person who inspires you almost like, um, see if you can either find somebody online, like how we do with Tom ferry. I mean, we coach of course with Tom ferry and that's who inspires us. Um, but I also think it's really important to find somebody who's


Faeine Grant (02:08):

Local. So what you think, somebody


Jennifer Foley Realtor (02:12):

In your office, whether that be like a managing broker or, you know, a team leader, but somebody who can really spend some one-on-one time with you, um, to not only show you how to, I mean, learning like the contracts and the business side of things, um, or, sorry, I should say like the legalities of certain types of things. That's, that's one side of the business, but


Faeine Grant (02:33):

There is a team join the team. I think if I was gonna start over again, I would join a team. Yeah. I would pick one that, uh, is doing very well and I would learn the basics from them, how to present it all over again. That's what I would do. That was the only thing I would do is I would definitely interview with different brokerages and different firms and find out what they have to offer. And, um, I think the training, the training is really key when you're, uh, when you want to get started and where you want to build your roots


Jennifer Foley Realtor (03:11):

And every different brokerage is going to have their own forte, right? Like there's some brokerages that are, you know, they're not, they're not meant to take in brand new realtors and kind of start them from the ground up. They're more for established agents, I guess you could say. And then there's some brokerages that really have built, built their brand and their, you know, their, their whole structure on bringing in new agents and really focusing on how can we get these new agents into the business and how can we get them trained and how can we show them how to work the business and, um, you know, um, you know, cause there's the legality side of things. And then there's the business side of things, right? In both of those two things are very important.


Faeine Grant (03:53):

It's really important to have a brokerage that has your back, right? I mean really business and you need somebody that's willing to be there and be on call for you. The other thing I think is if you do choose a brokerage that, um, you know, there's certain things you like about it, but maybe the training is lacking that I would definitely say getting a business coach is, uh, something that's very beneficial and, uh, can get you on the right path. And, um, I think you need to work the people that, you know, right. So that would be another tip is, you know, don't be afraid to get on the phone, uh, make those calls to your people. Um, I know a lot of times realtors think that, uh, you know, they're, it's hard to ask their friends and family, you know, who, who might need their assistance or their services, but really, and truthfully that is the bread and butter of our business, right. We need to


Jennifer Foley Realtor (04:46):

Secret agent, right? Like let people know inadvertently whether it be through social media or through mail or through, you know, um, you know, car advertising or best bet. Like if there's, so everybody has their, everybody finds what works for them, as far as letting everybody know that you're a realtor and


Faeine Grant (05:07):

One realtor doesn't work for another, right. That's absolutely starting to find your niche. Right. So for me, um, you know, I'm really good face-to-face and getting in front of my clients and having visits with them and that kind of thing. Um, other people are really good at open houses or, you know, talking to complete strangers and still sitting for business that way, whether it be through, um, making phone calls or those kinds of things. Right. So don't be afraid that, you know, what works for one person doesn't work for another, um, another thing that I don't want to forget is that, um, you know, there's enough business out there for all of us. Right? Absolutely.


Jennifer Foley Realtor (05:48):

Absolutely. I agree with you. And a lot of people, I think, especially with like geographic, like, um, densely populated areas that one realtor of has kind of taken over so to speak and we call that geographic farming or geographic farms. And, you know, if one person, like there can be more than one person that has, you know, a good portion of the market share. And like you said, there's enough business out there for everyone. And one realtor might not be the right fit for, for that person. Right. So, um, it is good to have the variety and, you know, the, the, the, the saying find your tribe. That's like, there's a lot to be said for that, for sure.


Faeine Grant (06:27):

Yeah. And I think another thing that's important, especially if you're getting started is keep yourself educated. You know, I mean our, our real estate, uh, boards do a great job of allowing us the opportunity to have different training sessions, uh, throughout the year. So I think it's very beneficial to dive in deep on that stuff and, uh, try to learn your face off as much as you can.


Jennifer Foley Realtor (06:50):

Absolutely. Absolutely. Whether that be, you know, with new rules and regulations that are being implemented, or even if that's just knowing your market, get on the hot sheets every day, see what sold, see what's active, um, one year ago, right? Like, do your research, know your market, figure out your niche and know your market extremely well. And knowing the stats, knowing your numbers, that's going to give you the confidence to answer all those questions when anybody throws it at


Faeine Grant (07:19):

You. That's right. And I think if you're, um, a mom, I think, you know, you have to have resources available to you that if you need to work on the fly that you can, um, I think once you get established, then you can sort of tailor your time management a little bit different. One thing I learned very early in from, um, a seasoned agent when I first started was to run your business, uh, around your life, not your, or no, sorry. I got that wrong. So run your life around your business. No, yes. Right. So that was always a philosophy I, um, took, you know, grab, hold of and, and sort of, uh, lived by that when I was working, because it spoke a lot of truth to me, especially because when I got in this business as a single mom, you know, um, it, it was very challenging to me.


Faeine Grant (08:13):

And sometimes you get bullied by other agents. Sometimes you get bullied by clients, um, you know, and never let somebody get in the way of, you know, those kinds of things when you have family responsibilities and things like that. So if you have somebody that you can tie into that can help you out with, you know, if you've got to go somewhere on the fly, which is often what we, you know, have happened. Um, but setting boundaries, I guess that's where it comes down to, to, you know, around all of that. That's really key. So yeah,


Jennifer Foley Realtor (08:46):

Like resonating, if there's one thing that actually, honestly, that I could take as advice, best piece of advice is what you just said, run your business around your life. Like, there's so much truth to that. And I wish somebody had told me that when I first started, because when I first started, I didn't have any kids. And I was, you know, like I just, I did this 24 7 and that was okay. Cause I had the, the drive and the energy for it. And I think the biggest, um, you know, one of the biggest challenges that I've faced is, you know, going from being able to work 24 7 to all of a sudden now having a baby, and then that was life changing. And then you kind of get used to that and then having another baby, and that was life changing. And now I have to, and I'm like, oh my gosh, right now, you know, husband and two babies.


Jennifer Foley Realtor (09:30):

Right? Like, and, uh, and, and yeah, it's, and I think, you know, not even realizing it, I've actually been running, like modifying my business around my life now because so much of my business involves my kids. Like I do, you know, children's events in my neighborhood and I bring my kids along and I just meet people. And honestly, like, that's worked amazingly well. And most of my family or my clients are young families as well, too. So if they have babies and Hey, I'll bring the baby, they can still sit in their little chairs and stare at each other while we're doing the showing. It's great.


Faeine Grant (10:04):

I think one other thing too, a lot of people, and I struggled with this a long time myself is balance right. Finding balance. And everyone used to say, oh, do this and do that. And you know, you'd hear different business coaches say, do this, do that. And finally, I heard one say, one day they'll never be any balance. And it was like, thank you, thank you. Somebody honestly said the truth here. That, yeah. Yeah. I know. But you know, you try to, again, work your business around your life. There's, there's certain pluses and advantages to being an entrepreneur. And then, you know, the other spectrum too, is, is that, you know, there are great demands and it's a, it's a constant work.


Jennifer Foley Realtor (10:47):

Absolutely. Absolutely. And I think, you know, striving for like, I think in the past too, like a lot of the coaching that I had before, you know, you know, this is what, when I first came into the business, right. Um, a lot of influence was all male-based and they don't, you know, it's just, I mean, I'm not saying that there's not single dads out there. There's not dads that are very involved. Of course they are, but it's very different. I think, you know, being a mom on that side of things and you know, they're always like, oh yeah, find the balance, find the balance. And you feel like such a failure when you don't feel like it. Like, gosh, you know, I'm really trying hard to find frigging balance here and it just is not happening. What am I doing wrong? I feeling something, no, you're not mom, you know, like perfect balance. And you just have to, you know, just do your best and just understand that sometimes you're going to be more family, um, you know, heavy and other times you're going to be more business heavy. And that's just kind of the way that the business goes


Faeine Grant (11:42):

Well. And even if you're not a real estate, you know what, that's life, well, I'm going to, I'm going to end us on this one last piece of that. I'm going to give, and you may have one too, is that I learned a long time ago from some of my senior agents never get attached to the outcome.


Jennifer Foley Realtor (12:02):

Uh, yes. 100%. Holy moly. Yeah. Never get attached to the outcome. Yeah. Yeah. Things can change all the time and you just gotta be okay with that. You gotta like, Hey, things are fluid. Right. And that's just how it goes.


Faeine Grant (12:15):

Yep. That's right. All right. Well, thanks guys. Thanks for watching. If you guys have any questions, please feel free to reach out to us. Just post a comment below and we'll get back to you.


Jennifer Foley Realtor (12:28):

Thanks everyone. Bye.



Episode 13: What & How should we be Teaching our Kids About Saving Money for Investments/ Home ownership

Let's jump right in, offer us your comments and insight and we'll offer ours.



Speaker 1 (00:00):

Well, all right. Hey guys. It is Friday. What's the date today? September


Speaker 2 (00:06):

The 10th,


Speaker 1 (00:08):

2021. Welcome to the Jen and beans show. I'm a realtor broker and mom working in Durham region.


Speaker 2 (00:19):

And I'm saying grant all the way across Canada in Abbotsford, British Columbia with home life, uh, advantage Realty and, uh, we're both moms and realtors.


Speaker 1 (00:30):

Wow. We are so welcome back to our weekly show where every Friday we jump on here, we talk about what's happening in the exciting world of real estate. Uh, sometimes we throw in a component about being moms and real estate and wives and girlfriends and all that other good stuff, right. With a spin, uh, on all of that stuff, uh, from our perspective. So


Speaker 2 (00:52):

That's great. So yeah. Oh my goodness. So today we have a, really, what I feel is a really important topic. So now that kids are back in school, um, you know, it kind of made me think, well, what's something that I wish I had learned in school, in the school system that they didn't teach us. And that is money management, investing and home ownership. They don't teach us anything about that in, in, in, in the school system. I mean, I didn't learn about finances until I was in college when I was in my business and new school learning.


Speaker 2 (01:30):

And you'll never, it's always a learning in progress. Right. That's the thing it's, it's never, you know, you never know everything all at once. So it got me thinking, okay, well, as a parent of two young boys, what can I do to, in order to, um, you know, teach them early about money management, savings, staying, like what, how can, what are things that we can do now in order to really be able to instill those beliefs and habits? It's, it's good habits that we're, we're trying to, you know, we're trying to, um, pass on to the next generation. I would say


Speaker 1 (02:07):

Truthfully homeownership begins long before you even speak to a realtor or a mortgage broker or a bank person or anything like that. I mean, where are you going to apply for a pre-approval or, you know, start house hunting and the process begins, you know, at least a year before you start buying a home. Yeah,


Speaker 2 (02:25):

Absolutely.


Speaker 1 (02:27):

Well, we're talking, we're going back even years back, right?


Speaker 2 (02:32):

Absolutely. Because you could be saving for your down payment for five years before you're actually ready and, um, yeah, it starts, it starts early on in life. Um,


Speaker 1 (02:44):

How old were you when you bought your first house?


Speaker 2 (02:47):

20. Okay, so here's the thing. I was 21. I thought I knew everything at 21. And really, so did I, I didn't know. I know anything, What I know could fill a library, put it that way. So, you know, like I think like the, the concept was there, but yeah, like it just, it didn't, it wasn't really clear in my mind and looking back, you know, the healthy money habits that I have now, I did not have when I was 21 by now,


Speaker 1 (03:21):

What would you say are some of them healthy money habits you have now that you didn't have say, uh, well, I don't know how old you are, but, uh, I'm going to guess 20 years ago.


Speaker 2 (03:30):

Exactly. So, um, how can I say this? So it's funny. Cause I was actually just talking with my coach about this, about business finance management. And so it's just, it's also relevant. Like the concept is the same, no matter who, no matter what way you're looking at it, but there's basically there's your, the money that you make. And then how do you break that down into, you know, savings or long-term savings or investing or, you know, living expenses versus


Speaker 1 (04:02):

It all comes back to a budget, right? Cutting through things. And if your goal is to get the home ownership, then I think you need to start, um, looking at those things. But again, we're kind of getting a little off topic cause we wanted to talk about how do you teach your kids?


Speaker 2 (04:16):

Exactly. Well,


Speaker 1 (04:18):

How do you teach your kids? Cause I mean, I struggle right now with, um, a daughter who gets money and wants to spend at once suspended online now. Right. Doesn't understand the long-term concept of banking it, but then you can have the opposite extreme where you have kids that every penny they get for their birthday and everything else, they've got it stashed in a drawer in the bank, not spending any of it. So I don't know we're the, to colleges, but just on the,


Speaker 2 (04:49):

Yeah, I think the very first thing I think is, yeah, it's a piggy bank. Um, it's one thing that, you know, now I'm seeing this out loud. I don't actually have one for my six year old yet. And I think, you know, the online spending is a huge part of that. Like when we were kids, there wasn't any such thing as online spending. So I would do my chores and then I would get like, I dunno, a dollar or $5 every week. And I would put an a in a piggy bank and I don't remember ever really. I mean,


Speaker 1 (05:16):

We come up with a down payment, if you were 21 years old, where did you come up with the down payment to buy her first house?


Speaker 2 (05:23):

Um, there was a combination of things. Um, there was a small portion of inheritance. I mean, it was a very small portion, but it was something right. And I think that, you know, back in the day when, you know, we were buying a house for a hundred thousand, you know, the S the smaller portion went a lot farther than it does today. Right. So, um, yeah, I would say, you know, a little bit of savings, a little, like,


Speaker 1 (05:50):

And from your parents, it didn't come from your parents. It came from money that you actually had saved For myself.


Speaker 2 (05:58):

I know that my story goes that, um, I bought my first house when I was 24 and my parents co-signed to help me get that house. I was working as a visiting nurse. And, uh, so it wasn't that I couldn't financially afford it, but I didn't qualify for it. So my parents did help me out with that. And then very thankful for that, because I mean, you know, I mean, the reality is, is that people have to look at long-term with real estate and investing that it's not a short-term gain. Like yes, in the last year we've seen huge gains in real estate values, but, um, traditionally that doesn't actually happen. Right. So my down payment actually was from money that I had had saved from the time I was like 11 or 12 and I was babysitting and I was saving all that money.


Speaker 2 (06:51):

And then my parents took that money and they, um, put it with a financial advisor and I, yeah, and it didn't like grow exponentially or anything like that. But, um, when I went to buy my first house, I did have my down payment. And again, like you, my price point, um, on the house I was buying was 120,000. And yeah, I had that 5% down in the closing costs. And I remember how scary that was. And actually I love working with buyers that are in their twenties. I'm proud of them. I have some clients that come to mind and I'm like, you know, what, if you were my child, I would be so, so proud of you. Right. Because I think nowadays, like you're saying you were 21, I was 24. You don't see that as often. And now I'm looking at that, like, that seems so young. Right. But completely. And, you know, we also, in my experience as well, like we had three people going in on the purchase together. And so that's how, that's how we came up for it. Cause I was still a student.


Speaker 1 (08:00):

So there's another idea. So this is stuff that I'm seeing people do right now. Yeah. And again, this doesn't circle back to kids, but I guess, you know, given where we're at in life, some of these young people that are like 20 or kids to us yeah. Of course. And, uh, you know, getting their friends to go in on a house with them. So if you have a best friend and you know, you both are working and cause you know, almost today it's taking two incomes.


Speaker 2 (08:30):

Absolutely. Especially with house prices to the fact that the market is so it's that much harder to get into. Right. And I think that, yeah, thinking outside the box like that and, and, you know, getting something with someone that, you know, like that's such a great idea. Um, you know, I think the other thing that, um, you know, when I was, I was talking with, uh, you know, Marty, this is my husband, Marty this morning, you know, kind of brainstorming the topic. And um, you know, I thought we came up with the, you know, just in conversation that, you know, starting with a piggy bank young that's, that's great. Um, teaching them towards


Speaker 1 (09:07):

The only problem is like my daughter will steal the piggy bank money.


Speaker 2 (09:11):

Well, yeah, exactly. So, I mean, you know, that's a whole nother


Speaker 1 (09:16):

Thing.


Speaker 2 (09:18):

And then, but then from there also is to, um, you know, teach them, working for your money is going to make them value it that much more. And then when you get the bank account, um, rather than just getting them one bank account, you know, what, if you were to get them, uh, three bank accounts, right? So you have one for the money that you make two for savings on the side and then three, like long-term savings.


Speaker 1 (09:46):

Let's be real if they're going to be entrepreneurs, which I think a lot of these young people are going to be this my opinion, get the better open a fourth and a fifth for HST and taxes.


Speaker 2 (09:59):

All right. So I was thinking about that too, right? Yeah, exactly. So exactly right. But then like, you know, what, if you, you know, when they get into high school or like, you know, when they're 15, like I think that might be a good age to, you know, as they're about to get their driver's license and start doing that, like sit down with a financial advisor and just to make them have that experience of so with,


Speaker 1 (10:24):

So my dad did was my dad when I was working from 16 to 1920. Yup. Not the year age.


Speaker 2 (10:36):

Right. It's all about how you're at heart, honey. I get ya.


Speaker 1 (10:40):

No, my dad made me take half of my paycheck and put it in a bank account and the other half was mine and that's what I had to spend. And I remember my friends, like spending money, like their whole paycheck. And I'm like, what do you mean? You get to spend your whole paycheck? And they're like, yeah, it's my money. And I made it. And I'm like, so like, I, that also was part of that savings originally. It wasn't to buy a house. The money was to go to university. Okay. Well, here I am a realtor. I didn't go to university.


Speaker 2 (11:16):

Right. The concept. And so when you were growing up and you were a teenager and you were like, dad, why can't I spend my whole paycheck? Like, did that bug you as a T? Like, did that drive you crazy? Was that one of those


Speaker 1 (11:28):

Looking at my bank account. Right. And realizing that, Hey, there's some money in there. Right. So my parents were including me in some of those financial decisions, but yeah. They were like, uh, no. And you know, I'd say the part that they allowed me to do was when they gave me half the paycheck.


Speaker 2 (11:46):

Yeah. I get that for sure.


Speaker 1 (11:47):

Yeah. So I was buying all my own clothes. So I was learning at an early age. Those were the things that you, with your money, like my parents, aren't there to take care of me forever and ever. So like, I really had to differentiate between wants and needs. And I learned at an early age that saving money was a habit. Right. You can take time to build, um, as an adult, do I still have that skill mastered? I probably could still use a little fun tuning.


Speaker 2 (12:18):

Yup. For sure.


Speaker 1 (12:18):

Dave Ramsey coming into my life and you know, it's a money in a jar, all that kind of stuff. So yeah. A hundred percent.


Speaker 2 (12:29):

Yeah. You know, starting them young. And I think, but at the same time, you know, like if you're a parent and you know, your kids are already, you know, 18, 19, it's never too late to say like, Hey, you know, I'm going to go sit down with, you know, financial advisors to talk about, you know, like it's never too late to really kind of want to, um, you know, install those, um, you know, those, those healthy habits. And, um, even if they're resistant to it, I think that, that's the thing it's like, you know, the tough love, right. You can't always, you know, they might not like it at the time, but


Speaker 1 (13:01):

My parents were acting as my creditor. Right.


Speaker 2 (13:04):

Yeah, exactly. Yeah. Yup. Tough love parents. Right.


Speaker 1 (13:10):

I love parents. Absolutely. You know? Um, so if anybody has any comments below, um, things that they could share in terms of tips, please feel free to comment below and hit that subscribe button and we'll be posting videos every Friday.


Speaker 2 (13:25):

Absolutely. Thanks guys.


Speaker 1 (13:28):

Bye.


Episode 14: 5 Tips when Home is not Selling in a Hot Market

Selling a home in a hot market and your home is still on the market may have you asking the question 'Why is my home not selling in a hot market?' In this episode of The Jenn & Faeine Show, we offer 5 tips when a Home is not selling in a hot market. Even in a hot market, some homes, for whatever reason, don't resonate with a buyer at first glance. I am a big believer that every home has a buyer, and that there is a home for every buyer out there! Here are five tips to refresh your listing and your approach to the sale process, without having to spend a fortune.


Tip #1: Home Staging - When buyers go thru a home, they need to see and feel how it would be living in that home. This is why staging and depersonlizing is so key for home selling. For example, Buyers need to visualize where they would relax, watch tv, cozy up with a good book or enjoy dinner with their family. We sell a lifestyle with home staging.

Tip #2 Curb Appeal - Take a look around outside to make sure your listing is checking all the boxes in the curb appeal department, it's the first thing buyers note when they get to the home. Things like peeling exterior paint, poor driveway condition, overgrown or an unkept garden does not create a great first impression.

Tip #3 Listing Photos -Home Buyers are shopping so much online these days & the first thing they see of the home is the listing photos. Creating a good first impression begins with good photos. In the past, I've even asked fellow agents to review the images of my listing for their feedback when a home is not selling. Sometimes changing out the photos works too.

Tip # 4 Changing the writeup about a property - Making sure it's easy to read, includes speciall features / elements about the home and compelling to the home buyer come visit the home. Changing the narrative to compel to the right home buyer for this home.

Tip # 5 Marketing Campaign - Revisiting who the ideal buyer might be, be creative and thinking outside the box. Perhaps all the listing needs is an eye-catching video, a different image on the front of the listing or a refreshed copywrite in listing description. There is a homebuyer out there right now searching for their dream home — your listing.

You just need to make sure that they find each other using these tried-and-true techniques. Ultimately, it comes down to 3 things, Location, Price & Condition. You may need to look at lowering the price, &/or improving the condition to get your. home sold. www.jenniferfoley.ca



Jennifer Foley Realtor (00:00):

Thing, even in a hot market, there's some homes that for whatever reason, just don't move you. And I both know that, right? Absolutely. They just don't seem to, uh, with buyers for one reason or another. And, you know, we're firm believers that there is a buyer out there for every home. So today we're talking about five things to bring new life, your listing. So let's get started. Absolutely.


Faeine Grant (00:25):

And this is primarily for, even in a busy market. Um, not every home is going to sell. And I find that it's the unique properties that maybe have some quirks in them that, um, you know, maybe still are the reason that it's not selling. And, um, I mean, at the end of the day price and, you know, price really does play a factor. However, um, I think, uh, you know, the best way to, to, yeah. I mean, number one, of course, the setting the stage, um, I mean, presentation is absolutely everything. And I know that we've talked about this before, as far as staging goes, um, and making the home visual appealing, make it feel nice, touch all of the five senses. Um, you really have to create that perfect, um, that perfect showing to make people want to buy it. I mean, if you don't, so


Jennifer Foley Realtor (01:14):

In saying that it doesn't have to be, you know, show stop or staging, I think, no, it doesn't comes down to being simple and basic even if the furniture's not ultra modern or anything like that. It, that is all part of staging as well, minimizing stuff and, um, removing personal belongings. Right?


Faeine Grant (01:33):

Yeah. Decluttering and cleaning is the biggest thing that you can do and, and, and lighting too, actually. Yes. Um, cleaning, lighting, and decluttering. Um, if it's dated, it's dated, that's fine. Yep. Um, but people are more likely want, sorry, what I'm trying to say. People are going to be more likely, um, more excited about a project home. If, if it's at least clean, if it's really dirty and, you know, I mean, that's, I mean, also that, I mean, that could really affect your price point as well too, but, um, but yeah, I mean, at least if it's a clean project, people can move in and still kind of feel like they're not moving into somebody's filthy, you know, um, mess. They're kind of moving into a dated home, but it's still nice and clean and they can pick and choose what they wanna work on first. Yep.


Jennifer Foley Realtor (02:20):

So I think tip number two is upping the curb appeal. And I have a, of an example of that. Um, I went through a property today and the people that have the property for sale have done a fantastic job. They've painted, they've cleaned and the house is staged. Um, but when you take a really good look around there's overgrown trees on the property, um, so much so that the number of bushes and trees that are like way overgrowing, um, that really should be cut back or dug out and, and gotten rid of. Um, and funny enough, I was talking to the neighbor and it was somebody that I knew and we started having a conversation about his neighbor's house. And he said, and I didn't say it. He said, <laugh> said was, I'd get rid of all those bushes and trees. And I said, exactly.


Jennifer Foley Realtor (03:09):

I said, I was thinking exactly the same thing. So, you know, that is, um, something also I noticed, um, from looking at the windows, the we're full of, um, you know, debris from the trees and leaves and all that kind of stuff. Um, so things like that, right. And having, you know, plants that are overgrown or, um, you know, not cutting back the summer plants, if it's fall, like we are we're in fall right now. I don't know what else, ideas you might. I have sometimes, you know, getting the driveway, um, with the code of that black stuff, put on it, you know, the, the black, um, tar stuff and, uh, you know, just presentation, right? Yeah. The windows


Faeine Grant (03:52):

It up completely. Right. Just getting rid of the extra stuff so that you see the nice clean lines along the driveway and you don't overgrown, you have a nice, you know, um, freshly cut lawn. Again, it's not hard to do. It's just basically, you know, simple simplify everything. And if you wanna get a little creative, which of course I always do. Um, I, I like to add a little bit of color into even, you know, even the, the gardens and the walkways and the window SI even if they don't have, you know, um, beautiful gardens or anything like that, I like to get some fake flowers and I know a lot of people laugh and they think, how can that even work? But I have photos that people don't even know that these flowers are fake. So I come in there with a bag of fake flowers and I say, gardening for you. And I pop them in and people are just like, wow, that looks amazing. And so it just, you know, it shows what you can do with the property, right. So if you have a nice walkway with, you know, two strips of, um, soil on either side yeah. Get four or five, you know, flowers and, and, and place them along that, um, the, that walkway there. And it's amazing. It'll make. Yeah. Yeah. I love it.


Jennifer Foley Realtor (05:01):

Yeah. So I think too sometimes, um, when we choose as realtors, um, or homeowners, whoever is choosing, uh, the photos to go up on the listing, I think sometimes, you know, it's, it's a matter of maybe switching up the photo cause we don't always realize how it's perceived. Right. So, um, leveling up the listing photos, you know, um, substituting I had a list once and didn't realize it, but there was, uh, a picture in the photo that was quite strange and I'm sure to anybody else, uh, it might have looked a little bit odd. So we made sure that we took that photo out of all the photos, um, because we were getting a lot of showings. Right. So that was one of the things that myself and my sellers, um, took a look at is okay. And it was only because I had consulted with another realtor and said, you know, do you have any other suggestions? What are your thoughts? And she said, that photo right there with that picture in it, I think is a total turn off. Right. It was a, the homeowner actually had, and it, it presented itself in the photo. And, um, yeah, it was just probably, you know, when we're, when we're considering photos and staging and all the rest of it, we have to like appeal to the majority, not the minority. Right. So, absolutely. Yeah.


Faeine Grant (06:15):

That's, that's a really good point. Yeah. Um, to have something that maybe could be showing the home in a, in a negative light, I mean, that's, you know, typically that's a really good point that you make. I mean, usually what, what my mindset is, is to, um, re refresh and, and change the cover photo every once in a while. So that people look are, you know, when they're scrolling through all the listings, they don't see same stale photo all the time. And then I find even just switching up the order of the photos, um, sometimes we'll take, um, you know, more than 20 pictures, our MLS system allows us to have 20 pictures in the system. So if we take more than that, maybe we will, you know, kind of re you know, switch them up and, you know, pull some out, add some new ones in, but taking that look of the, you know, if something's actually turning the, you know, if there's one photo, even that's, that's turning off of the property, um, that's a make a really good point is to, yeah. Really take a look at, you know, maybe you should just remove some photos. You don't need to have all, all the allowable photos in there. Right. So, right. That's right.


Jennifer Foley Realtor (07:18):

Another tip I would, uh, say is that I've done this in the past where, um, maybe not in so much a hot market, but in a market where, you know, the property should be selling and not sitting on the market and looking at reasons why it might not be moving as a listing realtor. I'll take a look at the, the written, um, client remarks or client copy, you know, of, of what the verbiage is about the property. And sometimes I will, um, get that, uh, professionally written up. Right. And do that rather than just the standard three bedroom, three bath home on a grade street or great.


Speaker 2 (07:56):

Yeah, exactly. Revamping the comments for sure.


Jennifer Foley Realtor (07:59):

And another thing too, and we should point this out is that some realtors actually put fixer upper fee, right. Like who wants to put fixer upper in their, their mm. Cause then you're eliminating buyers and you're attracting certain types of buyers. So if that's what you wanna do you're


Faeine Grant (08:18):

Is what you're.


Jennifer Foley Realtor (08:19):

Yeah. So, um, that's another tip and, uh, I'm, I'm thinking you have one more tip. Do you have one more tip


Faeine Grant (08:27):

For us? Well, you know, um, yeah, I am actually, and I just wanted to add one more thing. Yeah. Um, is when you're, when you're looking at the comments, um, I think, you know, to revise, like re revisiting all of the, the input, the listing input that you've got in there too. So having the description is one thing, but, um, with our MLS system, when we're inputting a listing, there's a whole bunch of dropdown boxes. Right. And every once in a while, a glitch can happen on the, the board side. And when the listing goes up, um, like, like certain information, it changes sometimes. So maybe it'll be, you know, the incorrect, um, heating or the, the, the fireplace has gone from wood burning fireplace to now gas stove or gas fireplace. And so, like, those are the types of things that you wanna also take a, a look at as well to, and revisit those. Has there been any glitches when, you know, during the processing? Uh, because we input it and then it gets it processed with the board and sometimes, you know, technology, sometimes things happen. Right. <laugh>


Jennifer Foley Realtor (09:26):

Yeah. No, I think that's a great, uh, recommendation. What about, uh, marketing makeover? I think that would be our, our fifth tip. Maybe we need absolutely.


Faeine Grant (09:34):

Yeah.


Jennifer Foley Realtor (09:35):

Where we're, um, marketing and who we're marketing to. Right. Who's our ideal buyer. And how do we, yes. How do we get this property in front of that ideal buyer? Right. In some of those ways, some people don't want for sale signs, believe it or not. I do still hear that on occasion


Faeine Grant (09:50):

All the time. Yeah. Especially in the luxury home market.


Jennifer Foley Realtor (09:53):

Yeah. Like they don't want a for sale sign on their, a front lawn, but, you know, for somebody that maybe not actively looking, um, that is something that is, uh, you know, really crucial and part of the marketing chain. Right. For sure. I also, well, what other ideas do you have? I mean, I think, and I


Faeine Grant (10:12):

Marketing. Yep. I think also analyzing, um, who, which buyers have been coming into your home and are they attracting the right buyers? Are they attracting the right target market? Mm-hmm <affirmative> um, have there been any surprises and I think just really paying attention and tracking to what the current activity is versus what you want. Mm-hmm <affirmative> um, yeah. I mean, you know, sometimes if you've got like doing a second photo shoot, sometimes I do that a as well. Um, if some of the, you know, if the weather changes and, you know, we get your photos done when it was snow outside or vice versa, it looks like it still listing. If your spring pictures are still showing when there's clearly snow on the ground and vice versa. Right.


Jennifer Foley Realtor (10:52):

That's a great example because last March, so March of 22, funny, we had some great weather and then, um, we were on this, this was the beginning of the pandemic. Yeah. And so I had some sellers that said, yes, we're gonna, we're gonna move forward. We're gonna put our property in the market. We wanna get moved and all this kind of stuff. And we understand our market time could take longer. So I scheduled the photographer, scheduled, the videographer, sent them out. And of course, when you know it, the day that they went out, we had a huge snowfall and it was of course, right. So all the pictures were star on the ground and like the next day it melted. And so,


Faeine Grant (11:30):

Oh my gosh,


Jennifer Foley Realtor (11:32):

We did post it. But there was comments about, um, oh, how long has this been on the market? And this, that, so it was like, all right. So we set the photographer back out and, and got new pictures for it. But yeah. I mean, those are things that are realities, right. It's, it's part of our, yeah. We have to sometimes make choices like that. Right. Where, you know, at the time we had it listed, so we had to go with the photos that we had, but then when we began to do our marketing, it wasn't effective because it wasn't snowing. It wasn't winter. So exactly what


Faeine Grant (12:10):

It doesn't feel current and also doing a refresh, like a re-list as well. I mean, I see some people, you know, they put these listings on for a year and when you see something that's been listed for 200 days, I mean, what does that tell you? Nobody wants to buy it. It's been on the market for a long time and oh, the sellers must be, you know, they, and people start making up, you know, the, the, the second part of that sentence, right. The sellers must be a, B, C, or D. And then they, they make up these stories, um, or assumptions, I should say. And, um, and I think, you know,


Jennifer Foley Realtor (12:40):

That there's something wrong with it.


Faeine Grant (12:42):

Exactly, exactly. Or they're, you know, gonna be more willing to, to budge on price and, oh, we'll give them a low ball or, you know, we've been listed forever. And I mean, there's a lot of things that kind of go along with that. That's kind of negative. Um, you know, has a negative spin on it. So I think that, you know, as soon as you get to the 90 day, mark, that's my opinion. Anyways, as soon as you hit 90 days, um, that's when I really start wanting to push for ALIST because once you hit that 100 day mark, mm-hmm, it looks stale. It really looks stale. So what's


Jennifer Foley Realtor (13:12):

Your large, uh, days on market right now?


Faeine Grant (13:16):

Um, it really depends for the most part, things are still selling within one week. Um, you know, they typically list they market for, you know, however many days have offer presentations. Um, I think it's a little bit different for the luxury home market. So like, you know, as soon as you get into a bit of a higher market, um, price point, um, you know, it's not uncommon for properties to be listed for, you know, three months, six months, and then once you get into the larger acreages, um, you know, it, it just, it really depends on where price points at. Um, some of the unique properties it's really hard to, to find pricing for. It's really hard to find the comparables. Um, so sometimes you have to just, you know, go with what your sellers want, and then the market's gonna talk to you. And this is, I think this video here, what we're talking about here, this is so relevant for properties like that. Um, because this, you know, this is exactly what we need to really be looking at, um, if, if the properties aren't selling right away. So yeah, the, the luxury home markets and, uh, and acreages, for sure.


Jennifer Foley Realtor (14:18):

We're starting to see more, um, listings that are terminated and either they're brought back on new pricing. Yeah. Or they're not brought back on at all because they didn't get what they were hoping to attain.


Faeine Grant (14:30):

Yes. Oh, absolutely.


Jennifer Foley Realtor (14:32):

So, yes, I guess the question is, you know, where we will see the mark in the next three months here. Right.


Faeine Grant (14:39):

He's very interesting to see what interest rates do. Hey,


Jennifer Foley Realtor (14:43):

All of that interest rates. Um, yeah. Just everything when things were opening up a little bit more right. As they're starting to now, so anyhow, we'll have to stand, we'll break a video about that the next time around <laugh> that's right. That's right. All right. Well, if anybody has any questions or comments, please post them in the comments below. Thanks so much for watching and on Fridays. So, um, yeah, like see you next week, like our social media, and we'll see you guys next week, guys.


Episode 15: Pros & Cons to Buying a Home Without Conditions in your Offer to Seller

Buying a home for the first time, buying a home for the first time 2021



Jennifer Foley Realtor  (00:01):

Hey guys, Jennifer bow, your local realtor here in Ontario in the region of Durham, which covers OWA, Wii, Bowmanville, Ajax, and a few other lying areas, Pickering, all that kind of stuff. We're just east of Toronto. And I'm here with my co-host. Oh,


Faeine Grant (00:17):

Fay grant here in, uh, BC Fraser valley. British Columbia. Yes. So I'm based out of Abbotsford and I cover all of the lower mainland in, um, greater Vancouver, Fraser valley area, primarily, um, Langly to about hope so. Yeah. Excited to be here.


Jennifer Foley Realtor (00:34):

Awesome. So today we're gonna be talking about the pros and cons of submitting an offer or from a buyer's perspective, uh, submitting an offer with no conditions or as you call them, but do you call them subject?


Faeine Grant (00:48):

We call them subject free offers. So there's no subjects and you call them unconditional offers, right? Yep.


Jennifer Foley Realtor (00:53):

So that means, uh, the buyers are submitting offers with no conditions in them. Um, so no condition on financing, no condition on, um, home inspection in a lot of cases. Yeah. Not, not every offer, it's not every offer, but certainly we wanna chat today about what the pros and cons are of that. No different than we would have that conversation directly with you. So I'm gonna let you, uh, start take it away. Fay.


Faeine Grant (01:17):

Absolutely. Yeah. So this is something that, yeah, I think that, um, you know, I, I feel like a lot of different mortgage brokers and, and bank specialists have really different opinions on this. So there's a lot of confusion out there as to, um, what buyers should do. And the reality is, is there's certain products that, um, unless you go in unconditional or subject free re realist, realistically, you're probably not gonna get it. So, um, I think, you know, one of the pros definitely is


Jennifer Foley Realtor (01:43):

That why, why wouldn't you


Faeine Grant (01:44):

Get it seen? Right. So, um, good question. Yeah. So there's, there's certain things that, um, may, once you go in, you go in, regardless of what the bank says, what the appraisal says, what the inspection, like, you don't get the, the opportunity to do any of that. So if something doesn't go the way that you want, then all of a sudden you could find yourself in some hot water. So, I mean, the pro is that, you know, within 24 hours you submit your deposit and you're in you, you're, you're done like sellers are happy. You're happy you beat all of these people that had subjects.


Jennifer Foley Realtor (02:17):

I would, I would add to that. You're not necessarily done, but you're done with the negotiating with the


Faeine Grant (02:23):

Yes. Yeah. Well, exactly. From, from the offer presentation, you know, purchasing of the properties type of, you know, standpoint for sure. Um, definitely not done though.


Jennifer Foley Realtor (02:33):

And I wanna back up too to say that, um, when I said to you about, you know, why would buyers put an offer with no conditions it's typically in multiple offer scenarios? Yeah. Or if they're submitting an offer where, you know, maybe there isn't any other offers, but the market is so hot that they want to get their offer accepted right away. Yes. And, um, you know, if all the other terms and condition, uh, terms that are in the offer, um, are agreeable to the seller, then you know that, um, you know, it's gonna be something that the seller's gonna accept.


Faeine Grant (03:06):

Exactly. Exactly. Yeah. So, um, what, what is, I mean, what's the biggest risk? What do you think is the biggest risk of going in subject


Jennifer Foley Realtor (03:16):

Free? Yeah, well, I think the biggest risk is you don't get the financing or there is something wrong with the house that if you had, have had a home inspection, um, certainly, you know, as realtors, we do our best to find out if there's any disclosure, but there may be things that a homeowner doesn't know about a home, um, that certainly a home inspection would bring light to, you know, most home, uh, most home sellers don't look up on into their, at, on a regular basis. Yep. Um, you know, they're not inspecting their foundations, they're not, you know, the key components, right. They're not aware of the inner components and nor should they be, you know, those are not, uh, most people's areas of expertise. Totally. Yeah. You know, unless you have that type of background that, uh, that, you know, you know, that should work.


Jennifer Foley Realtor (04:06):

Um, so yeah, so I, and, and along with the financing, I think that there's always the risk of not securing the financing. And, you know, if you put your offer in unconditional, I mean, one, you know, you know, uh, the appraisal, if the banks do an appraisal to see, and, and why would they do an appraisal? Well, because they wanna secure their asset. Right. Their asset is if you don't make your payment on your mortgage, um, and they have to take that property back, they wanna make sure that they haven't over leveraged, uh, absolutely. Right. In terms of what they've, what they've led out. Um, well, especially


Faeine Grant (04:42):

With the market being, you know, changing so much lately as well, they need to make sure that they're doing their due diligence and ensuring that the value is actually there on the property that they're gonna


Jennifer Foley Realtor (04:50):

Be lending on that's. Right. So, you know, there's, there's many factors there that, uh, somebody has to consider. Yeah. Um, so I think that's where really, so moving forward, we know that this is happening. Yes. Um, some of the suggestions, uh, I think for a buyer, um, would be to have a really good relationship with whoever your lender is. Yes. Um, you know, whether it be a mortgage broker or directly with someone at the bank, I think that, you know, they have to have made sure, uh, that, you know, that person has done what they to do. Um, talk to that lender or mortgage broker prior to submitting an offer. Um, they may have some suggestions to, uh, I don't wanna say solidify, that's probably not the right word, but yeah. Give you more assurance. Um, and, and some of those lessons and mortgage brokers won't even say, yes, you can do this. Right. So


Faeine Grant (05:42):

A lot of them won't, and I think it's getting tighter and tighter. They're getting more tightlipped about that. Um, but you know, I, I am starting to hear I'm, I am starting to hear some of the, the brokers, you know, suggesting maybe try and get, um, like a true pre-approval, as opposed to just doing the calculation. So whereby, you know, if you give your, you know, you do your credit checks, you submit all up your documentation, you have everything in the list already done, so that there's no surprises later on down the road. So say you have, you know, your taxes or your employment letter, like that's all done and pre that, I guess you could say it's already been reviewed.


Jennifer Foley Realtor (06:19):

Yep. But, but that being said, I mean, when, when the lenders are looking at this, um, this purchase, I mean, they're looking at it from two perspectives, they're looking at it from the house. Yeah. They're looking at it from the individual or individuals that are buying it. So two components, yes. You can have everything in check for your side with the individual or individuals, but the house component may not comply. And again, these are not things to scare someone, but these are things to make people aware of. Right. When you're, when you're taking this on that, um, you are once you sign and that offer gets accepted. Yes. You are on the hook.


Faeine Grant (07:00):

Exactly. Yeah, exactly. Um, and I think too, you know, some people are talking about doing pre-inspections and pre appraisals. Right. And I mean, that's not always an option. Like you don't always get the opportunity, especially if things are moving relatively quickly. Um, but certainly it doesn't hurt to at least explore the option. Um, as well as having a plan B as far as financing goes. So say, you know, the appraisal doesn't come in exactly where you want and you have to shift some money around as far as down payment goes, do you have a plan B if that happens?


Jennifer Foley Realtor (07:34):

Yep. And typically it's the people that are, are, um, putting a lower down payment. Yeah. Right. That would be more that's, that's my understanding. And again, we're not mortgage people, but you know, that would be, um, something, a conversation you'd wanna have with your lender. Like what happens if absolutely. If it doesn't, um, come in where it needs to be. Right. Exactly. Again, back circling back to the home inspections and yeah. And, uh, you know, that's just, again, is something you're gonna have to deal with after the fact. Right. If something comes up and how, uh, can you think of anything else?


Faeine Grant (08:16):

Um, you know, one thing I would just add as well is that if you can, you know, pre-read any of the strata documentation, so if you're purchasing a multifamily or, you know, in a strata corporation review the documents beforehand, that's certainly something that you can do.


Jennifer Foley Realtor (08:29):

And tell me what that is. I dunno, what a strata document is. We don't use


Faeine Grant (08:33):

That. Okay. So it's like a condominium, um, same idea, right? So typically when there's, you know, multiple families, you know, um, like a townhouse, for example, or a condo, so


Jennifer Foley Realtor (08:45):

Same certificate is what we have here, which right. Same


Faeine Grant (08:48):

Idea. Yeah. So usually there's two years worth of meeting minutes that we wanna look at. We wanna look at financials.


Jennifer Foley Realtor (08:54):

That is something that we should say yes. Yeah. A good point. Because some people might put an offer in, on a property that is a condo. Yes. You call it a strata strata. Yeah. Yep. So if it's a condo and there's a, a status certificate, which is a document that lawyers typically review, they look at the status of, of that, uh, corporation and who's managing the funds and make sure it's all in good standing. What are all the rules and regulations, all that kind of stuff, all that stuff. Yeah. That is not something that you don't wanna have looked at. Absolutely. Strat documentation is like, well, that's what we call it. Right. Strat doc are definitely something that you wanna look at without a question. Yeah. Right. Because typically we would have a lawyer review those before that would be a condition. So yeah. And we do that here.


Jennifer Foley Realtor (09:43):

<laugh> we would have a, no, we would have a lawyer. That's what I'm saying. We would have a lawyer review it. Oh, I see. Yeah, yeah, yeah. But some people, you know, may think that they don't need to put a condition in, on the lawyer reviewing it. So I like your point of having it reviewed ahead of time. Right. For the offer conditional date. Um, if there is one set on the, on the, uh, listing, uh, yeah. That's, that's a great point. Yeah. Yeah. All right. Well, if you guys have any questions, please leave them below. Let us know. We'd be happy to answer any of your questions that you have. Absolutely. Thanks so much. See you.




Episode 16: Buying a Real Estate when you are a Realtor

It's Friday afternoon, and time for our weekly show.



Jennifer Foley Realtor (00:00):

So, do you ever wonder what it's like to buy real estate when you're a realtor? Well, guess what, <laugh>, we're talking about buying real estate when you're a realtor, because when you're a realtor and you're buying real estate, it is no different than when you're just a buyer buying.


Faeine Grant (00:20):

Right.


Jennifer Foley Realtor (00:21):

It's bananas,


Faeine Grant (00:23):

It's bananas. Exactly. And it's emotional too, right? Like if it's, you know, you're, you still go through all of the emotions as if you would. Um, if you're just, if you're not, if you're not a realtor and you're just going through the transaction, you still go through all the emotions a hundred,


Jennifer Foley Realtor (00:39):

Hundred percent. So, yeah. So you were saying that you bought a property. So tell me a little bit about that what's


Faeine Grant (00:46):

Going on. Yeah, so we, um, we bought it, uh, so we bought it in presale. Um, so it's actually a condo which we purchased for an investment and it's, uh, both of our first investment properties. So we're pretty excited about that. Right. Um, and, uh, and so we bought year ago and we, you know, in our market at the time we thought, okay, well, you know, the market's not doing great. It's not doing terrible, but it's not doing great. And it's probably, you know, we expected things to kind of dip a little bit. So we thought, you know what, it's a long term investment that's okay. Um, and then of course, you know, a year later the, the values have gone up dramatically. So's like,


Jennifer Foley Realtor (01:25):

Like an emoji,


Speaker 2 (01:27):

Right? Like who would've thought, like, we, we didn't think that, I mean, you know, we lost money when we first bought the, the place that we're in right now. Right. We bought in the high market and then it went down and so we weren't sure if that was gonna happen. And we were like, no, you know what, it's okay. Because it's a long term goal. We're not planning on selling in another two years. So it's, you know, we have the time to be able to kinda go with it. But, um, but yeah, so anyway, so we end up, um, we complete on it, uh, the end of November. And, um, and I think I just found a tenant last night actually. So, um, we're pretty excited about that. Yeah. Yeah. She's um, a friend of a friend and, um, you know, for, for the right tenant, we're, you know, willing to kind of yeah. Get the right tenant in. So


Jennifer Foley Realtor (02:17):

Were you in multiple offers or not, or


Faeine Grant (02:22):

No, no. Thankfully we, we weren't, um, we bought right from the developer. Right. So this was at the time we were like, okay, polygon, I don't know if you guys know who polygon is. They're a large developer here. And I was like, okay, what's the, you know, what's the, the best value that you have right now for your two bedroom, two bath. And, uh, and so they, me and I was like, I dunno about that, but okay. You know, we saw the value in it and we saw, okay, long term plan, let's do it. And I mean, thank goodness we did. We kind of, you know, we took a risk and you know, this time it paid off. So yay. Now are going through a completely different scenario though,


Jennifer Foley Realtor (03:03):

Right? Yes. So can you talk about that? Yeah, so we bought a property and, um, yes, I played realtor, but I also was buyer and, uh, yeah, so six offers on the table and, uh, so we had to offers and I went through the house three times to really figure out if I really wanted this house or not. Right. Yes. Because I have been searching and really trying to figure out where do I want to be for the next so many years. Right. Yeah. And, um, yeah, so this property crossed most of the boxes. It didn't cross off all of the boxes. Um, but it had certain features about it that, um, sort of swayed me to make a decision. And actually I waited to the very end to put the offer in. So there were already five or six offers and oh, wow. I think five or six. Cause initially she said one extra one, and then I don't know what happened, but there was one less. So, um, yeah. So talk about really stressful and emotional and you know, you know, all of that. And so I really had to put my realtor hat on and say, okay, so realtor, hat, what would you tell your clients? Right. You


Faeine Grant (04:20):

Wrote the offer for yourself then representing


Jennifer Foley Realtor (04:22):

This. Yes, yes, yes. OK. And, uh, so yeah, so I wrote the offer for myself and presented for myself. And, but the whole time I was talking to the realtor, she said to me, I love that


Faeine Grant (04:36):

Laughing. Like


Jennifer Foley Realtor (04:38):

I, that I had. Right. Like that it was, I never told her that it was me ever. Right. And so she said to me after like, um, I said to her, uh, we were chatting and she's like, yeah, she goes, you were playing hardball all this time. Right. And I, she goes, then it was you. And I'm like, yep. It was me. So anyhow, it's really good. It's exciting. Hey, uh, just like all the emotions that buyers go through, like we wanna move in next week. Right. Like we don't wanna wait. Yeah. But you know, we have to wait and I'm so just busy planning, getting everything ready to go. Mm-hmm <affirmative>.


Faeine Grant (05:18):

So what day did you write this? Like, is this like how recent, how many hours ago?


Jennifer Foley Realtor (05:22):

<laugh> oh, this is like within the last week. Okay.


Faeine Grant (05:25):

Awesome. Awesome. So, okay. So you've had like a couple days to, you know, kind of let it sink in. Yeah. And when do you move?


Jennifer Foley Realtor (05:33):

Uh, well, this year, this year.


Faeine Grant (05:37):

Nice.


Jennifer Foley Realtor (05:38):

<laugh>


Faeine Grant (05:39):

Yeah. Yay. That's so exciting. We'll good for you. I'm happy for you. That's amazing. Yeah. Thanks. Yeah. Good way to end 2021. And it's like 20, 22. Let's start it on a high note,


Jennifer Foley Realtor (05:51):

Right. That's right. It'll be new beginning. So I'll be able to get us settled in there and uh, yeah, we'll have a little more space and all this other stuff, so it'll be


Faeine Grant (06:00):

Exciting. Yay. Oh, that anybody


Jennifer Foley Realtor (06:03):

Has any questions about whole process of buying a home and um, you know, please post your comments in the comments below, because we'd be more than happy to answer any questions that you might have and help you with that out process, because it can be a very stressful process. Um, and let's face it moving sucks.


Faeine Grant (06:23):

Yeah. Moving is not fun. Yeah.


Jennifer Foley Realtor (06:26):

And moving sucks. So, and on top of all that, I'm moving myself, but I'm also, you know, I've got some new listings that are coming on. So, you know, if we want work to start and happen and get busier, well, we just have to move vacation.


Faeine Grant (06:43):

Congratulations. We're gonna have to do like a, a live video for when you get possession of So totally. Hey, what, you got one cheerleader at least. Right. <laugh>


Jennifer Foley Realtor (07:05):

Have any questions. I dunno if there's anything you wanna add thing, um, about the whole process of buying and what


Faeine Grant (07:11):

It's like. Um, I think just the thing is, is that, you know, we, we can relate just, um, you know, we're human too, and we go through the process too. And, and just because we're realtors and we see it every day. Yeah. We might see it in a different light, but the emotions are all still the same, you know? Well, yeah,


Jennifer Foley Realtor (07:25):

We, we don't have the emotions, right? Yes, exactly. And, and that's what the listing realtor said to me. She said, you know, almost as a realtor, we need to go through this process to remind us how our buyers feel. Right. Because as a realtor, definitely we stand, we stand back and we're we're with a different view. Right. And then when we're in those shoes as buyer and as, um, a realtor, and I try to explain that to my clients. Like they think that, you know, there's, it's easier. It's not easier. It's much harder. Yeah.


Faeine Grant (07:58):

Yeah. Cause it's like, what hat do we have? Do we have the client hat? Do we have the realtor hat you


Jennifer Foley Realtor (08:03):

Objective and your objective. Yeah. Right. So you're playing both those roles and you know, you really have to step back and yeah. Just say, well, what would I tell my client? Right. Exactly.


Faeine Grant (08:16):

Exactly. Yep. For sure.


Jennifer Foley Realtor (08:19):

So we'll see you.


Episode 17:

Friday November 19, 2021

Jennifer Foley Realtor (00:01):

So, Hey, FA how are you doing out there?


Faeine Grant (00:04):

Yay. Well, you know what? I feel very, very lucky that I'm okay. My house is okay. Um, we're far enough west in Abbotsford. Yeah, but


Jennifer Foley Realtor (00:16):

What's going on in Abbotsford right now? Like it's


Faeine Grant (00:21):

Yeah. This, our city, yeah. Half of our city is underwater right now. Um, so what's happened is, is that we've had a month's worth of rain last weekend, um, all in the span of like two days. And so, because we're, we're in kind of the Fraser valley that kind of goes into a Prairie, what I'm learning. And actually I knew this, but I didn't totally know this. Um, so what happened was, is all of Sumas Prairie, which is kind of the area like slightly east of our city, and then all the way into, um, Chi whack, right. To the border. That was all built over a lake at one point in time. So they dried up the lake, they built, um, some like, like water pumps, like a water pumping station. And it wasn't enough to sustain all of the water that we got over the weekend. And so what's happened is that it started overflowing and all of


Jennifer Foley Realtor (01:17):

Drainage system is not strong enough to support the amount of water.


Faeine Grant (01:21):

That's right. That's right. So everybody in the Sumas Prairie, all of the farm LA like all of the farmland is completely, I know


Jennifer Foley Realtor (01:30):

I saw, I saw the farmers are like taking, I mean, one guy had his cattle in his office on the news and


Faeine Grant (01:37):

You know, yeah, yeah. One of my girlfriends actually. Yeah. A friend of mine, she is actually a real here as well. She lives on a farm. Right, right. In the heart of where it's happening. And she sent me a video of her leaving her house in a search and rescue boat with her dogs and cats in the cages. Right. And, um, last few days I've been trying to help find a spot, you know, a rescue boat in this place to store her goats and you know, like, it's crazy. But then, so that's, that's one side of it. Right. But then you get the other side of it where it's like halfway between like highway one runs right through Abbotsford. Right. So I guess it would have probably five exits starting from Mount Leman all the way to, I would say Watcom in number three road.


Faeine Grant (02:24):

So highway one, that's like a major, major access route to get from east to west. And literally you see the highway it's like here one, one minute. And then at a, like a major, major exit, it literally just goes right under water and I've never, ever, ever seen anything like it. So it's like where, so where I'm, I'm at Mount Lehman and then you have clear book exit, and then, uh, Mac Callum exit we're. Okay. But then right next to the Mac Callum exit, you get Sumas and that's where it closes for, um, for the flooding. And so you can literally drive up. So when I take my kids to school and daycare, I drive up the hill and you look down and I can see the like waves and oh, wow. Water. Yeah. Which is where I would normally go. Like the, the route I would normally take is now literally submerged underwater. Wow.


Jennifer Foley Realtor (03:17):

So how is all of this impacting, um, impacting real estate? Like what are


Faeine Grant (03:24):

People? So, um, a couple things are happening right now. I was actually just watching the news this morning. And, um, so what they're doing is they're, the city has made a decision to destroy, which between six and 10 properties to, for the sake of keeping all of the other properties safe. Um, so they're having to kind of rebuild the, um, and right.


Jennifer Foley Realtor (03:50):

Like to create


Faeine Grant (03:51):

Like a needs to it out, it needs to divert it. Right. But unfortunately six to 10 properties are gonna be affected. And all of these people are just finding out about this now. And I'm, it's gonna be really interesting to see what happens over the next few days, because I mean, they don't have a choice, unfortunately, that's kind of what they're saying is that they're gonna have to be forcefully removed from their properties if they choose not to go, which is a really scary thing. What


Jennifer Foley Realtor (04:16):

Sort of things do you see that, uh, you know, are, are needs there? Right?


Faeine Grant (04:21):

Um, well I'm so there's a lot of people there's probably about, I think it's between seven and 10,000 people that are without accommodations. So I'm actually doing a, a, a donation drive to tomorrow, all day tomorrow. I'm, I'm going around to everybody and just picking up food supplies, diapers, tampon, um, for the paper, like all of the necessities that people would need, cuz they're literally without anything right now. Um, but, um, but you also had asked what, how that affects real estate, um, just to touch on that. Um, so in the Fraser valley here, a lot of areas are on, what's called the flood plain and we haven't seen a, a acid floods since 1990. And this was even before I was realtor leaving before I was living out here. And, um, and, uh, so, you know, in real estate, like, you know, we have a little box that we tick in our listings, whether or not the property's in a flood plain or not.


Faeine Grant (05:16):

And this really puts into perspective how that affects property and in insurance. So one of my clients phoned me yesterday and, um, they had a family member that were completing on a property purchase in Chi whack, uh, two days ago. And it almost didn't close because the insurance, uh, insurance companies, they weren't insuring to Chi whack right now because of everything that's happening. Also, they said that, um, people, everybody that's affected by it, they're cons, uh, they're probably considered high risk areas. And, um, a lot of people are gonna be really surprised and saddened to find out that they're probably not gonna be covered for all of the flood damage that has just happened. So it's, you know what, it's all still happening. Like as we speak, literally I'm watching the, the news and I mean, I know the news is so depressing, but you know, it's like I'm watching it all the time just because I'm wanting to see, you know, if my son's gonna go visit his dad this weekend, we don't know <laugh> the roads have been closed.


Faeine Grant (06:16):

<laugh>, you know, um, we've had schools closed for the first portion of the, of the week. Um, I kept him, I kept my son home from school on Wednesday just because where his school is and where the flood risk area is. There's like maybe three blocks. I mean, luckily his school's like on a huge top of the hill, but, uh, but you just don't know what's gonna happen and I'm more concerned about the roads to get from here to the school. So, yeah. Yeah. It's been interesting times, right. It's um, it's, it's really sad, but, uh, but yeah, so I'm doing, um, uh, a donation drive. So I'm just going around to anybody that I can, anybody that has any kind of donations I'm just dedicating the entire day tomorrow to just go pick stuff up and, and just bring it all to the, um, uh, the trade X center.


Faeine Grant (07:01):

So that's, um, the trade X center is, is kind of the, um, it's right next to the Abbotsford airport, which is about a five minute drive from where I am mm-hmm <affirmative> so, um, really easy access and all of those roads are still open, thankfully. So I have access west. And so that's why I'm hoping the, that I can just, you know, go to past clients or anybody that I know from, you know, Langley or, um, anywhere, anywhere west in the lower mainland really. And, uh, and come bring it over to, to people for, yeah. All the via evacuees and, uh, yeah, it's really crazy. It's really crazy. <laugh> it's real, right. Yeah. Yeah. But then in merit, you know, uh, two hours inward in the interior, the entire city of merit has been evacuated and it's like, it's 10 times worse out there. It's crazy. So yeah, we paid a big bucks to live out here in BC and, uh, yeah, we get nice weather, but like, this is I unprecedented. It's just crazy.


Jennifer Foley Realtor (08:02):

Yeah. Well, you know, I hope that, uh, you have much success tomorrow. Thank you. Your drive and your donation drive and, uh, you and your family stay safe. And, uh, you'll be thinking of you and putting prayers out there for


Faeine Grant (08:20):

Thank you so much. Yes. And I'm gonna be doing the same too. All of the, uh, all of my friends and neighbors here. Yes. <laugh> sure I'll keep you posted. I'll let you know next week how it all goes. <laugh> sure.


Jennifer Foley Realtor (08:36):

For sure.


Faeine Grant (08:39):

Okay. Sounds by.


Episode 18: Canada Housing Market 2022 Predictions

As 2021 comes to a close, many people are wondering...can this market continue. Today we discuss our opinions on this HOT topic!

Jennifer Foley Realtor  (00:01):

All right. So it is Friday, December 17th and FA and Jennifer, we are back on. Hi. Yes. And, uh, so I was thinking we would talk today a little bit about, uh, what can we expect in the housing market for 2022?


Faeine (00:21):

Oh my gosh. This is like the magic question that everybody is asking us and


Jennifer Foley Realtor (00:26):

Yeah. But, but I have to laugh. I have to laugh. Do you know, I, I asked you that question. I asked you that question, not even one minute before we went live and you were like, do you know <laugh>? No, I don't know. Really don't know. Let


Faeine (00:43):

Me just pull out my crystal ball and, um, let's see. While we're looking at that, let's all pull the, um, winning lottery numbers as well, too, that we're gonna see in 2022. And then we just all make millions off of real estate and retire. Wouldn't that be great? <laugh> that's


Jennifer Foley Realtor (00:58):

Right. That's right. Well, you know, I both, no, this is a question that a lot of people, um, especially realtors, you know, are, are wondering, you know, what is 2022 gonna look like considering 2021 looks or has looked nothing like what I expected it to look and in terms of sales and demand and, um, just this whole pandemic and what it has done to our real estate world. And, um, you know, in terms of sales and, you know, a lot of


Faeine (01:30):

People think interest rates as well too, have continued to stay this low for this long. And I don't think anybody was expecting that as well. Mm-hmm


Jennifer Foley Realtor (01:39):

Mm-hmm and, you know, uh, so like, we're gonna make some predictions today. I wanna talk about, uh, you know, the truth right now, and really let's talk about what's going on in your market out, uh, in Western Canada and my market here in Eastern Canada. Um, I mean, there's a lot of parallels, right? I mean, absolutely what happens in one spot that's happening in another. And, uh, yeah. So what are you seeing right now in your current market? Are you seeing higher than normal levels of inventory or lower levels? Or what are you seeing?


Faeine (02:14):

Right. So, um, we are basically at an all time low of inventory supply. Um, I've never seen anything like it, to be honest with you, um, you know, all the years I've been doing this, this has been the, um, lowest inventory I've ever seen. Um, even, you know, people are still scheduling multiple offers for December 20th and December 21st. And I mean, I, before ever. Yeah. Like normally, yeah, things have slowed down though. I'll tell you that, like, things have slowed down. Um,


Jennifer Foley Realtor (02:45):

But they're also saying things have slowed down because I'm seeing the same things. I'm seeing, um, a higher number of listings, uh, but sales down, but that's not changing things in terms of buyer demand. Like buyer demand is still strong and still up there. Um, and there's still buyers that are shopping and our typical, um, seasonal norms no longer exist for us, you know? And, um, as you're saying, you know, all of those things, like people are holding off offers and I have a situation where I just list to property and it's gonna be the exact same situation. And it's like, okay, Christmas is next Thursday, Friday, Christmas is Christmas day. And we're taking offers Tuesday.


Faeine (03:30):

Yeah, yeah, exactly.


Jennifer Foley Realtor (03:32):

When most people are


Faeine (03:33):

At shopping. Yeah. Oh, absolutely. Well, and the other thing too is, um, one that's kind of unique to our area is that the floods have created a bit of a, uh, an uncertainty, um, in, in our neighborhood. Well, my, my part of, you know, BC, I guess you could say, and, um, there's been a lot of people that have not wanted to, um, list their property because they're scared about what the perception is on Abbotsford and the floods, um, or people are worried about insurance and anybody that's on the Sumas Prairie, which is where they've, um, experienced most of the floods. Um, those properties, unfortunately, are all still sitting on the market. None of them are selling. Um, and, and we're seeing a lot of, um, discussion about, um, potential problems with, uh, home insurance.


Jennifer Foley Realtor (04:27):

OK. You know, not


Faeine (04:28):

That makes sense. Yeah. Not for many companies that are local necessarily, but I think when, you know, when you've got, um, the higher ups within the insurance companies, they just hear Abbotsford or, um, Fraser valley and Southern DC floods. And, you know, they're making people kinda jump through, uh, a few more hoops. Um, so I think there's a little bit of uncertainty there. Um, and people just have not wanted to list their property. The it's the new listings that are coming on the market right now. There's hardly anything. And it's crazy. It's


Jennifer Foley Realtor (05:00):

Crazy. Yeah. I mean, I looked at the numbers and I mean our total number of listings and that's when I say they're up that's year over year. I don't mean just generally. Um, you know, and our average list price is still strong. Everything we're not seeing any sort of real decline. Um, and certainly, uh, you know, demand is still there for how, but again, we don't have the floods here in Ontario going on that you have been experiencing, but, you know, certainly, uh, the recent, uh, COVID stuff I've been hearing that some people have pulled back on having their homes on the market. I really wanna emphasize though that, um, even with this, I mean, for those people that are maybe a, a little bit nervous with respect to this pandemic and inviting people into their home, we do have ways that we can virtually sell your home as well.


Faeine (05:50):

So, absolutely. Um, absolutely. Yeah, absolutely. So, um, that's key as well. Um, and you know, like they were talking about foreclosures and I haven't seen any bank sales or power of sales or anything like that. Yeah. And I listened to a presentation yesterday by, um, our coaching organization, uh, put it on in conjunction with, with, uh, keeping current matters. And they were indicating that, um, these are American numbers, but a lot of what happens there parallels with us in some ways. And, uh, foreclosures are not a thing they're seeing as well right now that people, despite all this stuff with, um, pandemics have sort of, uh, it it's nonexistent really. Um, which is, which is a good thing. And certainly there's a lot of people that have a lot of equity in their property. So they're able to refinance. So in 20, 20, 20, 20, 22 coming forward, um, what do you think prediction wise?


Jennifer Foley Realtor (06:56):

What do you is gonna happen? I just sent a text out the other day to a couple of people. Yeah. Um, one of them, uh, the Canadian real estate association, uh, released, uh, housing demand, uh, statistics. And they said that housing demand OPAC is supply and showing national existing home sales rose 0.6% in November following a whopping 8.6% surge the month before. And it said that sales could have been higher, had it not been for the limited supply of homes for sale. Yeah. Um, and that home buyers are anxious to finalize purchases before the bank of Canada hikes interest rates next year. Yeah. I did read another article, um, with respect to interest rates. And again, I mean, there's, there's some talk about April and, and may, um, not to say that that's to scare people to hold off a weight and think that, you know, if house prices go down, what people have to understand is if, if interest rates go up, house prices go down, mm-hmm <affirmative>, you know, you're, you're still, you're paying more monthly. Totally. Right now. Perfect example is, um, a mortgage that I had a few years ago. Uh, I now have a higher mortgage, but the mortgage I had was lower at a higher interest rate mortgage I have now is higher, but at a lower interest rate, almost a point and a half difference that's and I'm paying the same money. It's


Faeine (08:28):

Not wild. That is so crazy. Well, and it's true. And I think, you know, and I, I agree with you. I think that there's a few, um, you know, I think there's a few determining factors on what's going, what's gonna have to potentially have happen or what's gonna have to happen in order to, um, you know, depict how next year is gonna go. I think, um, I, I have heard many different sources are saying that, yes, there's probably going to be an interest rate, uh, increase next year. I don't think it's gonna be that much. I mean, from, based on what I'm hearing, I don't think it's gonna be going up that much. However, I also think that, um, you know, the, the government can implement any new changes, rules or changes at their,


Jennifer Foley Realtor (09:10):

At their, which we saw we saw in 2017. Right. Absolutely. With the


Faeine (09:13):

Foreign buyers, first thing that we saw. Yeah. And


Jennifer Foley Realtor (09:17):

Then, and you, and I, I think it happened at different times, but it was terrible. We just


Faeine (09:20):

Behind you guys. Yeah. So there's that plus there's also the stress test that also slowed things down the last time. And then also, um, the NBC, I don't know if it's the same with, with Ontario, but, um, they're proposing new changes on how we operate our day to day, um, business here in NBC, as far as conditions go, they're talking about having like a mandatory, um, a mandatory seven day, almost like a seven day rescision period, just like new construction. Um, so they're putting all the feelers out right now and they're, you know, taking surveys and the same know we saw a ton of change that happened after the busy market in 2018. Right. Mm-hmm <affirmative> they decided, okay, no, the way we're running real estate, isn't how we want to, it doesn't protect the public. So, you know, they implemented all of these different changes. And, um, I think really, I mean, any of those things could happen at any point in time and that can change the market like that. So exactly. You know, I think that if we continue going the way that we're going, well, it, this can't last forever. It's, it's lasted longer than I thought it was going to. But I think also, um, COVID and, you know, the, the need to keep the economy going has kept interest rates low.


Jennifer Foley Realtor (10:33):

Yeah. The other, the other thing to keep in mind too, that I think impact thing is, will be if immigration opens up.


Faeine (10:41):

Right. Ah,


Jennifer Foley Realtor (10:42):

Yes. Yeah. So, so there's a lot of variables here and we don't really know what's happening behind the scenes, uh, with the major banks or lending institutions or the government or any of that other stuff. So like you said, things can change day by it. Right. So, but, but I'm a firm believer. I mean, we've seen price appreciations. Oh my gosh. I think, uh, let's see here. So the average sale price increased 27.95% year over year for the last week, from December 5th to 11th in my local area here in Durham region, which is, uh, just 30 to 40 minutes outside of, uh, Toronto. Yeah. And you know, so normal appreciation let's, let's go back to that is about 5%. Yep, absolutely. Right. It, it, it's not almost 30%. It's not 25%. It's not 20%. Right. So that's where, um, you know, I think things have to slow down so that we're not, cuz we can't continue to see like there's no way house prices could continue to go up 30%. There's no way. No, but let's add this because we are 12 minutes in and we have to go here soon. Oh my gosh. I know we're having a great conversation here. Uh, now I lost that thought, oh my God. Um, it was along the lines about price appreciation and 30%. Oh, anybody that bought in the last year or two needs to talk to us.


Faeine (12:11):

Absolutely. Oh my goodness.


Jennifer Foley Realtor (12:14):

Like they need to talk to us. They need to talk to a realtor because if you bought a house last year, say for 600,000, which I know a year ago, the house that I just bought, I could have bought for a lot less. Yep. And it is worth much more. Absolutely. Right. So absolutely.


Faeine (12:36):

Yeah. People in the last few years, anybody that's purchased in the last few years, I remember when people,


Jennifer Foley Realtor (12:41):

It's almost three times from 2018 to now the house is no, no, I shouldn't say three times. It's at least double, I would guess. Yeah. That's a guess just based on


Faeine (12:52):

Absolutely. Almost double for a us as well too. Yeah. And I remember people saying, wow, I'm paying so much money for this property. Oh my gosh. And now it's gone up, you know what, 80% like <laugh> it's, you know, it's it's. Yeah, exactly. Yeah. Definitely. You know, if you guys are interested in knowing how much your home is increased in value, I mean even buying in the last 12 months, you're gonna see a drastic change. So definitely a hundred percent question to ask us for sure. Yeah.


Jennifer Foley Realtor (13:20):

A hundred percent. So if anybody has any questions, reach out to us again, we're here, we'll put our contact info in the comment. Love to hear your thoughts and comments on this subject and wishing you all a happy holiday season, happy year and post your questions, comments below. We'd love to hear from you.


Faeine (13:41):

Yep. And any topics that you'd like to hear us talk about maybe in the new year as well. Um, it'd be really great to get your guys' suggestions. So yeah. Have a safe and happy holiday and we'll see you guys in 2022.


Jennifer Foley Realtor (13:52):

All right. Awesome. I.



Episode 19: Will the Canadian Housing Market Crash in 2022?


Jennifer Foley Realtor  (00:00):

So I'm Jennifer Foley. I'm a realtor working in Durham region, which is just east of, um, Toronto, about 30 minutes. Uh we're in the Eastern GTA. And, uh, my colleague FA here, I'll let you introduce yourself.


Faeine (00:14):

Absolutely. Hi, I'm FA I'm, uh, FA grant with home life Realty in Abbotsford. So I am low just in the FRA valley, which is, um, about 40 minutes, uh, east of Vancouver. Yep.


Jennifer Foley Realtor (00:27):

Excellent. So FA you know, you and I were talking a little bit before we got started and, um, you know, we wanna talk about, you know, what, uh, the Canadian real estate association has been putting out some information that, uh, we've been reviewing and breeding and, and add in our own thoughts as well. Absolutely. And, uh, you know, if anybody has any questions, feel free to, to put them out there and ask us, we're, we're both doing this, uh, on YouTube live and we are on Instagram live. So anybody have any questions, you know, if you're on YouTube watching this in the replay, please post your questions down below. And if you're with us live here, thanks so much. All right. So the Canadian real estate association, um, you know, saying that host sales will moderate in 2022. So, I mean, we've seen great leaps and bounds in appreciation, I think, both in your BC market and here in Ontario. A


Faeine (01:22):

Absolutely.


Jennifer Foley Realtor (01:23):

Yeah. So, um, you know, they're saying that they're not expecting prices to ease anytime soon mm-hmm <affirmative> and, uh, what are, what are you seeing where you are in terms of


Faeine (01:34):

Yeah. You know, I think that a lot of people, um, you know, I think the, the mindset of a lot of people is that there could potentially be a quote unquote crash for 2022. Um, but all of the, all of the predictions that we're seeing is that it's still going to continue to rise just as it is. Um, we're seeing absolutely no sign of anything slowing down, um, multiple offers even here in Abbotsford, which is not even the, the, the city of Vancouver, which, um, of course is one of the highest, the highest cities, of course, as you know, uh, most expensive cities to live in, but even out here in Abbotsford. Yeah. We're seeing multiple offers, single family, detached homes are still, you know, there's, there's still always going to be, uh, offer presentation date as soon as the, the home lits, uh, hits the market. It's okay. Not when can we go and see it? It's when are you doing showing, and what's your off for presentation date and time? So this tells us too, I mean, it's definitely, you know, cohesive with the, the concept of there being, um, you know, a lot more buyers than there is inventory. And I think that that's, what's been, um, you know, that's, that's been the challenge and that's how it's 10% continue to look, right? Yeah.


Jennifer Foley Realtor (02:41):

Yeah. And they were saying about sales being down in these, and I think a lot of that is because listing numbers were down. So like even that's exactly


Faeine (02:48):

It. Yep.


Jennifer Foley Realtor (02:49):

Yeah. Like right before Christmas, we were seeing huge number of offers on, um, mm-hmm <affirmative> on a single property. You know, I saw one property, uh, couple days before Christmas had like 23, 24 offers. It was in a price point that was great for entry level buyers, like first time buyers to get into the market. Um, and they're predicting that they're not, um, gonna see any prices easing anytime soon. Um, so I think it's a good time that if people want to get into the market, that they should still consider to get in there with interest rates being as low as they are. Yeah. Um, I know you and I did another video on this and, uh, I think it's, it's a great opportunity and time for people to get into the market, for sure. Um, other than, I think for first time buyers, I think some of the challenges are around that buying under a million now that our average home prices up in the million range now.


Faeine (03:40):

Absolutely. And, and seeing that first hand with, um, so I, I think that's where we're gonna have to come up with, uh, some ways around that to get these buyers into the market. Um, but for move up buyers, certainly there's the leverage of taking some of the equity that they've built over the last few years and getting into another property, but supply continues to be really low. And I think there's a number of different reasons for that. Not just builders, but I think, you know, people buying investment properties or, you know, their they're refinancing and keeping properties and buying a second or third property mm-hmm <affirmative>. And so those properties, we're not getting them coming to market either. So then that creates this huge demand for people, for sure, from the buyer end. Um, well,


Jennifer Foley Realtor (04:27):

And to add to that as well. I also think that, um, you know, smaller cities that are outside of the, the epicenter of the, you know, center center of, you know, Toronto or Vancouver with people working from home, we're seeing a lot of people move into the areas where we're typically used to seeing quite a bit more opportunity, more bang for your bucks to speak. And while that is still the case dollar for dollar, the demand is still there. So even in Abbotsford, SIAC even hope the, the demand is, is quite quite high. And we're not used to seeing that. Right. I mean, typically, you know, yes, in Vancouver it's quite busy, but then once you get into, you know, the smaller areas, then, you know, um, usually you think it's gonna be quite easy to get yourself a home and it's just not the case.


Jennifer Foley Realtor (05:12):

Yeah. So we've got a question, which is a question that we've been talking about today is will the Canadian home prices go down in 2022? And, uh, uh, you know, they're saying that, um, we're not really seeing any forecast for that, Melvin. No, it's, uh, it's not looking that way, at least right now, mm-hmm, <affirmative>, um, we've got a couple of, uh, mortgage people that have joined us here. And, uh, I don't know if you can see it on your end, their thing. Um, but we've got a people that are watching that. It would be great if one of them wanted to join us. I'm not sure if we can do like, uh, have three people on here on Instagram, but it would be great to get their insight. Um, absolutely. Yeah. But, uh, anyhow, we'll finish up our YouTube live and there's saying that, uh, Louis, uh, prices being still Newfoundland and new Brunswick. So the east coast and your area in BC and my area here in Ontario is still gonna be the highest price point. Um,


Faeine (06:13):

Yeah. That's your lucky as right? <laugh>


Jennifer Foley Realtor (06:16):

Yeah. Yeah. Well, they think that right with realtors, but, you know, it gets frustrating with those buyers that can't, um, compete at a, you know, at a, at a level that they want to. Absolutely.


Faeine (06:27):

I think that's been the hardest part this year too, is just being the bad news bear for so many buyers, you know, and it's heartbreaking to see they keep, you know, it, their struggle becomes our struggle because of course I, we care about our clients so much and exactly, uh, it's hard not to, to feel the, the, the pressure really of, of, you know, it's hard to buy a property. Well, it's quite hard on us too. And, um, we don't like seeing, we don't, you know, we wanna, we wanna a good experience and a good outcome for our clients. Um, one thing that I all just wanted to mention is I was actually looking@pwc.com and they gave us, um, you know, a few cities that are not part of the five main cities, but other key, key Canadian cities to kind of look out for. And, um, apparently Ottawa on the rise. So is Halifax, Winnipeg, Edmonton <affirmative> Quebec, city and Saskatoon. Wow, wow. Yeah. I was actually pretty surprised to see that.


Jennifer Foley Realtor (07:25):

Oh, so I think mortgages with Tyler would like to join us. Um, yeah, so let's just wrap up our YouTube video quickly and then we'll carry on with, uh, we'll see if we can bring Tyler in there. Maybe Tyler, uh, you can, um, asked to join and, uh, we'll see if we can bring you in, but in terms of, uh, national home prices, they say from November, 2020 to November, 2021, they're up 19.6% nationally, um, across Canada. Um, you've talked about the key cities to follow we talked about, and then, you know, just wanna quickly talk about the next test, um, when interest rates go. Yeah. So they are talking about that. So, um, you know, what's your take on that? How it will impact things?


Faeine (08:12):

Oh, definitely. Um, well I think, you know, if they start talking about interest rates rising and it actually starts to happen, what I think, I mean, you know, historically speaking what's gonna happen is that we're gonna see a slight search because everybody's gonna wanna get their purchase locked in. And so there's gonna be this crazy demand for a short period of time. And then it will, all of a sudden it will just go like crickets for a little while, because everybody's just gonna be kind of waiting to see what happens. And, um, good percent. I, I


Jennifer Foley Realtor (08:38):

Agree with on that. Yeah. Right. So, and you, you know, and that answers Melvin's question right around, you know, home crisis going down. I think that if they raise interest rates, we're going to see a bit of a pullback in for sure. In some of the pricing. Um, I don't think it'll be anything long term. I think it'll be that initial, you know, like you said, search yeah. Slow down sort of plateau out and then you'll have that, that moderate increase in, in pricing. Not anything like we've seen in the last year, so


Jennifer Foley Realtor (09:06):

For sure. Well, and I mean, and just like anything as well, I mean, the market can't stay like this forever, like long term wise. Yes. It feels like it's been like this for quite a long time time being that, you know, 20, 20 it's kind of started. And then it's just been getting progressively more ex you know, more, uh, tight and, and more pressure, but it can't see like this forever. There's just, there's no, there's no way. Right. So we're gonna have to see a correction eventually. Um, and I do think that, you know, also if there's going to be other rules, um, implement such as, you know, something equivalent to the foreign buyers tax or, you know, changes in the way people, you know, um, the industry is done. I know that there's some, um, conversation and here in NBC about, um, you know, uh, having a mandatory seven day rescision period, um, for resale properties. So, and that's, mm-hmm, <affirmative>, you know, to eliminate the, a, the, the risk that's required with, with subject free offers. And we don't know how that's gonna impact the, the market, but I, I mean, any, any change in real estate and how things are gonna happen. Um, I do think is going to, um, oh, I lost the thing on my phone. <laugh>. Ah, okay. Sorry. I just had a call there that I had.


Faeine (10:16):

Am I back? No, you're back. You're back. Okay. You're back. Sorry. I had a call coming in on that. I, I, I, we're used to doing things over the computer and I'm doing things on my phone right now. I wasn't expecting that, but anyways, yeah. So, um, any change in real estate, we're gonna see a little bit people, you know, they always sort of stop and freeze, but everything will balance out eventually. So I, I do, I do really think that that's gonna happen here as well, too. It's just gonna take


Jennifer Foley Realtor (10:37):

Some time. I think it'll be across Canada for sure. Yep. Definitely. So let's, let's end our YouTube. Thanks guys for watching.


Faeine (10:44):

Thanks everyone.


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