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How To Escape Debt Prison!

When you’re selling your home, you want buyers to love it as much as you did. So you may be tempted to tell them all sorts of interesting stories about living there. Unfortunately, some of your stories may actually reduce your chances of getting the best price. That’s why it’s a huge advantage to work with a local real estate professional who can handle all contact with buyers. 

1. Don’t attend open houses. Some buyers may find this awkward and off-putting.

2. Don’t talk to or correspond with buyers. Again, leave this to your Realtor. You may inadvertently say something that buyers could see as negative. Also, it’s best for you not to know anything at all about potential buyers, in case they later claim they lost the deal due to being a member of a marginalized group.

3. Don’t tell neighbors and friends how negotiable you are. Motivated buyers may ask around and use this information to make a very low offer.

4. Don’t tell anyone how desperate you are to sell quickly. Again, buyers could use this information to get a lower price.

5. Don’t share why you’re selling the home, especially if it’s being sold as-as. This is information that can reduce your negotiating power.

6. Don’t tell anyone how many buyers have toured your home or how many offers you’ve received. If your numbers are low, this can potentially cause buyers to make a lowball offer.

7. Don’t share your financial situation. If buyers find out you’re having difficulty, they may offer less. Even if they hear you’re wealthy, they may still offer less, assuming you’re not concerned about a few thousand dollars.

8. Don’t knowingly misrepresent your property. Provide your Realtor with any information you’re legally required to disclose. It’s essential to have a Realtor who can guide you through all the legal requirements.

Your home is a big investment, so make sure you protect it with regular maintenance. By taking the steps on this checklist, you can help preserve your home’s resale value, safety, energy efficiency, comfort, and curb appeal. Here’s what to do over the next 3 months:

 Take down and store holiday lighting and decorations.

 Check for and remove ice dams on eaves troughs.

 Clean the filter on your stove exhaust fan, vacuum your dryer vents, clean or replace furnace filters

 Update your possession inventory for insurance purpos

 Inspect all exposed pipes around sinks, hot water heaters, etc. If you find a leak, get it fixed immediately

 Do any required interior painting and touch-ups on walls and doors.

 Lubricate hinges, locks and door handles.

 Inspect caulking around showers and bathtubs. Repair as needed.

 Clean or vacuum curtains and blinds.

 Clean blades of ceiling fans.

 Test smoke and carbon monoxide detectors. Replace batteries.

 Inspect roof for missing or damaged shingles.

 Inspect caulking around windows and doors, and replace if necessary..

 In some climates, start refreshing your landscaping. Add mulch, plant perennials, reseed bare spots in the lawn, and start pruning shrubs and trees.

 Declutter your closets and spare rooms.

 Clean the winter dirt out of your garage, and get gardening tools organized.

 Get your air conditioner serviced for spring and summer

Investing in real estate can be a great way to earn extra revenue. But buying a property and renting it out yourself can be a lot of work. On the other hand, when all or part of the property is rented through Airbnb, things can be easier. Here are some pros and cons of renting through Airbnb: 

• An Airbnb rental can be more profitable than a self-managed property. This is because you’re charging “hotel rates” per night instead of a monthly rental. BUT it’s only more profitable in high-demand areas, like San Francisco or Vancouver, where you can charge high rates and vacancies are low. In less popular cities, the nightly rate will be less and vacancies higher, so profits will be limited.

• Airbnb charges renters a maintenance fee, so owners may save on repair costs.BUT unlike a monthly rental, you have to furnish and decorate the property, and include utilities and streaming services. Plus, your insurance will be higher.

• During the pandemic, Airbnb cabins and cottages in rural areas did very well. BUT most urban locations had very high vacancies.

• You can own and manage an Airbnb property without living nearby. BUT you’ll probably need to hire a manager to make sure the property and guests are well taken care of.

If you’d like to meet a Realtor who can help you buy an Airbnb-ready property, call us today.

• RSV(respiratory syncytial virus). This common and highly contagious respiratory virus causes cold-like symptoms, mostly in children and the elderly. Due to Covid precautions, many kids have never been exposed to RSV, so large numbers are now getting infected. Even though there’s currently no RSV vaccine, effective treatment is available. The problem is there’s such a volume of kids with RSV, some hospitals have become over-crowded.

• Seasonal flu. Like RSV, Covid precautions prevented us from getting the flu over the past few years, therefore many more people are getting sick now.

• Covid-19. Covid is still hanging on, partly because many of us have stopped taking precautions

The good news is that we already know how to prevent ourselves from getting sick with the tripledemics. Since Covid is spread primarily through respiratory droplets, it’s important to wear a mask, stay well back from people who are infected, and of course, get vaccinated. But RSV tends to spread through contaminated surfaces, so frequent hand washing and sanitizing are key precautions. Seasonal flu spreads both through respiratory droplets AND contaminated surfaces, so it’s important to wear masks, regularly clean surfaces, and of course, get a flu shot. Bottom line: the best way to prevent spreading the tripledemic is to stay away from sick people, and stay home when you’re feeling sick yourself.

As we prepare to celebrate a New Year, what is the name of the calendar used in most parts of the world?

a. Gregorian

b. Julian

c. Lunar

d. Alexandrian

In “How the Grinch Stole Christmas!”, what is the name of the town that the Grinch visits?

a) Crumpitville

b) Howville

c) Grinchville

d) Whoville

ANSWER: d) Whoville

Congratulations to Sarah and Dan Penner of North Vancouver for winning last month’s quiz contest! They have won a FREE dinner for themselves and another couple at the Salmon House in West Vancouver. Enjoy!

The first person to respond with the correct answer will win a FREE Dinner for themselves and another guest couple of their choice!  (Limit of one Trivia Prize per year)

To submit your answer, visit gocanadianmortgage.com/cont...

Yes, it’s true: most of us are imprisoned by our debt. Bankers and credit card companies keep us locked up in financial prison by charging HUGE interest rates on debt that we have little chance of ever paying off. 

For example, when you include the total interest accumulated on a mortgage, you end up paying two or three times what the home was worth. There’s no way the average person can get out from under that kind of debt! 

But as your local mortgage expert, I offer you the key to that financial prison—in the form of a special FREE report. “How To Escape From Financial Prison” is packed with insider tips on how to manage debt, reduce interest payments and pay off loans fast while still managing to save for the future.

Inside, you’ll learn:

 How to determine how much equity you have in your home.

 How to harness that equity to pay off your expensive credit card debts.

 How to save money by paying off debt at affordable “mortgage rates”.

 How to use those savings to start building your financial future!

Don’t waste another day in financial prison. Get your no-obligation copy of this exclusive report, and start enjoying financial freedom today. Request “How To Escape From Financial Prison” by clicking here:  

As you can see, we’ve got a growing selection of FREE REPORT that are jam-packed with valuable tips and proven strategies to help you and your friends and family avoid costly financial pitfalls. If you’d like us to rush you one or more of these free reports, please fill out the reply form below and submit it by fax: 1-800-XXX-XXXX or snail mail it to: 123 any street, any town, any province, postal code.

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Do You Have All the Information You Need To Make An Informed Decision About Buying, Selling, or Refinancing Your Home?

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