Marco Moranelli, Courtier immobilier

09/14/2022

The City Has Re-Evaluated Your Property’s Municipal Value

The property assessment roll is drawn up every three years and consists of establishing a property value for all buildings on the territory.

This is the basic tool for calculating municipal and school taxes (not to be mistaken with appraising a property's market value with intent to sell).

On average, the city’s property values have increased 32.4%, a hefty rise that last compares to 2007’s 38.6% uptick.

The increase is broken down into the following categories;
- residential at 35.5% (single family homes at 38.6%, condos at 30.7%)
- non-residential at 23%
- vacant lots at 42.8%.

The previous roll was completed on July 1st, 2018, and the latest values refer to July 1st, 2021.

The impact of the new roll on homeowners' tax bills will be known with the filing of the city's 2023 budget later this year. Tax changes will occur as of January 1st, 2023.

At this moment, you can view your most recent municipal evaluation at:

https://servicesenligne2.ville.montreal.qc.ca/sel/evalweb/index

Let's hope that the city's policy makers take into consideration the current inflation/affordability issues and decide to ease up on the multiplier. 🤞🏻

NO ONE LIKES TAXES, and no one looks forward to being the bearer of bad news, but it's our job to prepare you for what's around the corner.

Begin to budget for the upcoming tax increase in January, a tip from your neighbourly real estate brokers.

More details to come!

09/01/2022

Rise and shine early bird. 🦅🌄

You’ve got funds available for an investment and hope to take advantage of an honest market correction?

Let’s discuss two popular types of revenue properties: the plex (duplex, triplex, four plex, etc.) and the condo.

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FINANCING:

A secondary property (both condo & plex) will generally require a 20% down payment.

Want to live as an owner occupant in a plex? In fact, a duplex permits you to live interest-free, as your tenants’ rent covers that portion, and then some.

Owner-occupant plex down payment:
- Duplex: 5%+
- Triplex & Fourplex: 10%+

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THE PLEX:

☑️ GREATER PURCHASING POWER due to multiple rents counting towards income
☑️ DIVERSIFIED asset that includes land, building & rent generating income
☑️ CAPACITY TO OPTIMIZE units, hallways, exterior, landscaping and tenant selection
☑️ RESELL UPSIDE; Lower inventory & unique product vs cookie cutter condos
☑️ Successful plex strategy: Buy, Renovate, Re-rent, Refinance (BRRR)
☑️ Possibility to CONVERT a plex into an undivided condo ownership to sell as individual units at a higher profit
☑️ BUILD EQUITY FASTER due to multiple rental units
☑️ Average COST PER DOOR is generally lower vs. individual condos
☑️ LESS POLITICS vs. condo’s syndicate
☑️ FREEDOM: you are the only one to decide how to update the property and you don’t have to ask anyone else for permission to undertake your work (unlike condos).
🚩 MORE RESPONSIBILITY/HIGHER RISK; the landlord is the owner of the property’s interior units/hallways/exterior/land
🚩 More TENANTS to manage
🚩 HIGHER PURCHASE PRICE
🚩 LARGER CONTINGENCY FUND required for repairs (ie; brickwork, roof, foundation, plumbing, electrical, etc.)

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THE CONDO:
☑️ LOWER BARRIER TO ENTRY (considered a stepping stone to real estate investing)
☑️ potential short-term opportunities with PRE-SALE CONSTRUCTION
☑️ Better suited for NON-LOCAL INVESTORS due to minimal responsibilities, only liable for private portion
🚩 LIMITED with potential value add on a condo
🚩 POLITICS – ask for permission
🚩 Building management & financials can IMPACT RESELL
🚩 Possible UNEXPECTED EXPENSES for assessments on building repairs and maintenance

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Is one better than the other? No, just different.

Like any other investment vehicle, you’ll opt for one depending on your profile, objectives, risk tolerance, available down payment, etc.

If you need help with this, it’s right in our wheelhouse.
____________________mtl

Photographed by ⚡️📸

08/25/2022

A common misconception in real estate is that the Spring/Summer window is the ONE & ONLY opportunity to sell a home.

Have you considered Autumn?

Let's take a moment to debunk this myth; here's six convincing reasons to list your property in the Fall. 😬🍂

https://groupebaronello.com/6-reasons-why-fall-is-a-great-time-to-sell-your-home-%f0%9f%8f%a1-%f0%9f%8d%82/?fbclid=IwAR3lsP7oX_RsMfSQ0hFpzLoKV547Syv8_GDRKi-OKlnl8V-2zrspTK0KeVo

A common misconception in real estate is that spring/summer is always the best time to sell a home. Well today, we are going to debunk that theory and give you six great reasons to sell your home in the fall! 1. Less Competition With the majority of Canadians opting to list their home between Februa...

08/18/2022

TRADING UP, Should You Sell or Buy First?🤔🏞

If you are a homeowner and you decide to enter the market, you’re faced with a difficult question, “Do you buy your next home before selling, or vice-versa?

We get asked this question all the time.

Each situation is unique, and several factors need to be looked at to determine the answer of that question. For example: What are the current market conditions? And are you financially capable of carrying two properties with ease?

The most common tactic is to sell first. By doing so, we are accomplishing the following:

- Taking the time to ensure the property is sold correctly; highest price & best terms.
- By clarifying the purchasing budget; finalizing a sale and concluding the profits to plan the next step
- Allowing for a competitive offer with fewer conditions
- Planning a suitable timeframe to find a home: Understanding the market dynamics - inventory levels for your neighborhood of choice & days on market. Following, we can offset the notarization and occupancy by a 3-6 month gap, depending on the market conditions and personal preference.
Uncomfortable with the no. 1 recommended strategy?
You have other options! 💁‍♂️

Plan b.

Can you afford to pay two mortgages at a time? Then you can buy first.

Plan c.

The 72 hour clause.

Faced with the prospect of taking on two mortgages, even if only for a short period of time, one option for the buyer would be to submit an offer to purchase that includes a 72-hour clause.
You can include a condition in the offer to purchase, specifying that you need to sell your home. This way, you don't have to shoulder the financial burden of two mortgages at the same time.

It allows you to make an offer to purchase while putting your house up for sale. However, the seller retains the possibility of finding a new buyer. If this happens and the new buyer makes a higher offer than yours, they have 72 hours to react. After this time, their offer would no longer stand.

If the number of potential buyers exceeds the number of houses offered, the seller is likely to refuse the conditional offer with the 72-hour clause. Then, you may want to make a tempting proposal to make it worth their while, offer above the asking price?
We don't want to risk missing the opportunity to buy our dream home? What can we do?

We have a few creative financial solutions to solve the problem. Bare in mind, they are more expensive (shoulder the cost of borrowing funds temporarily).

- Bridge loan: The equity from the first home is used to finance the down payment on the second. It's a short-term loan, often for up to six months, that bridges the gap between the two real estate transactions. Available under various names, most financial institutions offer this type of product which provides peace of mind to those who are in a hurry to acquire a new home.

- Home Equity Line of Credit (HELOC): A homeowner could also apply for a line of credit by offering their home as collateral. The amount of the line of credit would serve as a down payment for the purchase of the new home.

These forms of short-term financing allow you to proceed with the acquisition of a new property, while saving time so that you don't sell your home at a discount.

Ensure that you apply for a bridge loan or HELOC as early as possible before putting the house on the market.

Contact a real estate broker and mortgage specialist to understand the current market and to make the suitable decisions to get the transactions done in the right order. This is the way to ensure success!

“ Give me six hours to chop down a tree and I will spend the first four sharpening the ax.”
- Abraham Lincoln

Learn more at our blog:
https://groupebaronello.com/trading-up-should-you-sell.../

As always, DM to chat. We're closer than you think!
____________________mtl

07/12/2022

Q. Over the last 25 years, the average bank prime rate was 4.15%. Currently, we're sitting at 3.7%, and still below the average. Where is the ceiling, at what point do we better control inflation and why?

A. The prices of household goods have exploded during the pandemic. Increases in groceries, electricity bills and gas at the pump, have caused the central bank to tighten the screw on inflation (which sits at 7.7% in Canada as of May 2022). The bank of Canada will meet another 4 times in 2022 to review its monetary policy. Many experts see its Prime Lending rate to increase by another 1.00% to 1.25%, which would bring the Prime Lending rate within the 4.70% to 4.95% range. I wouldn't want to say that this is a ceiling, but we haven't seen this type of Prime Rate since June 2008 when it was set at 4.75%.

In order to control Inflation, usually governments tend to use the contractionary monetary policy which is a more popular method of controlling inflation. The goal of a contractionary monetary policy is to reduce the money supply, which many Canadians benefited during the Covid19 pandemic with various relief programs, by increasing interest rates. This helps slow economic growth by making credit more expensive, which reduces consumer and business spending. Only time will tell if this policy will work!

Make sure to check out our 6 part series. Your mortgage will thank you.

As always, DM to learn more!
____________________mtl

05/27/2022

Did you hear? As of June 10th, 2022, representation without a buyer’s broker’s contract is no longer permitted.

Verbal consent is no longer valid, as it only allows for the buyer to be treated fairly.

Without a contract, you can solely receive objective information and relevant facts to the transaction.

With a written contract, the broker will represent or defend a buyer’s rights, exemplifying loyalty and good faith.

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Groupe Baronello’s Take 🙋‍♂️

We’ve always practiced with a buyer’s contract because it is in the best interest of both parties. Aside from a broker's fiduciary duty, how does putting pen to paper benefit a buyer? 💯🚀

⚡ No surprises. A contract providing transparency, reasonable commitment and set expectations from day 1.

⚡ Results. The resources to drive weekly conversation to help you attain your objectives.

⚡ Quality control. It permits for a more focused buyer capacity, allowing us to consistently deliver a AAA client experience. In this manner, all buyers are considered serious and treated equally.

⚡ Flexibility. It gives buyers peace of mind, offering the possibility to opt out at any time, and without penalty.

---mtl

No. 1 in ACCESSIBILITY, pick up the phone and good things happen. 💯

05/03/2022

Live affordably in the city, while by the water. 🏙 🚣‍♂️

Just Listed | En Primeur

#28003660
3+1 BR | 1+1 BATH | Tandem Garage parking
Asking $399,900

Welcome to 4770 rue du Tremblay, an ideal starter home that underwent numerous updates over the years. The highlights: a spacious dining and living room to entertain the extended family, 4 bedrooms (3 upstairs) including a comfortable primary with walk-in and access to full bathroom, a designated laundry space, tandem garage, and a private veranda at the back to host the Sunday summer barbecue. Excellent value, but an even more attractive quality of life.

Visits start Saturday May 7th from 13h-16h, don't hesitate to book your tour!

By the water.

Situated along the Riviere des Prairies, and insulated by the Ile du Tremblay and Ile Paton, a relaxing slower paced lifestyle awaits you. The neighborhood offers an enclave of natural beauty, ranging from the mature tree-lined streets, to the peaceful bird chirpings, numerous parks and green spaces; including pedestrian access to the striking river views. Rarely do you get an opportunity to escape the city, while still enjoying immediate urban services and amenities. Moreover, a 5 minute walk to Boulevard Samson provides a melting pot of greek culture, offering authentic cuisine, bakeries, Mediterranean grocery stores and various other family-owned service providers.

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Vivez à un prix abordable en ville, tout en demeurant au bord de l'eau.

Bienvenue au 4770 rue du Tremblay, une maison idéale pour débutants qui a subi de nombreuses mises à jour au fil des ans. Les points saillants : une salle à manger et un salon spacieux pour recevoir la famille, 4 chambres à coucher (3 à l'étage) dont une primaire confortable avec walk-in et accès à une salle de bain complète, un espace de lavage séparé, un garage tandem, et une véranda privée à l'arrière pour accueillir le barbecue du dimanche en été. Une excellente valeur, mais une qualité de vie encore meilleure. Visites samedi 7 mai de 13h-16h, n'hésitez pas!

Vous voulez en savoir plus ?

https://www.remax-quebec.com/en/house-for-sale-laval-rive-nord/4770-rue-du-tremblay-chomedey-28003660.rmx

🤙 514.245.1490
📧 [email protected]
🖥 groupebaronello.com

Groupe Baronello | RE/MAX Alliance
Selling | Buying | Investing | Advisory

04/01/2022

Le centre-ville de Lachenaie vous attend. 👋🎉

En Primeur | Just Listed

#26496320

2 CAC | 1 Salle de bain | 1x stationnement ext.

Prix demandé $349,900

Superbe condo style penthouse, au gout du jour, tranquille et bien insonorisé, unité de coin, situé au dernier étage avec plafond cathédrale, fenetres abondantes sur trois cotés, luminosité incroyable et deux balcons avec rangement. Le confort et les commodités s'hormonisent à merveille. Situé dans un emplacement de choix, au coeur de Lachenaie, près de l'ile de Montreal avec accès direct aux grands axes routiers (A-40 et A-640). À quelques minutes du train de banlieue face à l'hopital Le Gardeur, polyclinique médicale, Coscto, cinéma, restaraunt, épicerie, école primaire et plus! Visites privés le samedi 2 avril de 13h à 16h.

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Presenting #402 800 rue de la soeur-marie-rose, a top floor 1110 sq ft 4 ½ corner unit that boasts towering cathedral ceilings and well-designed social spaces offering an abundance of all-day natural light. Enjoy a handful of extras with this superb 2011 build;
🔹bathroom heated floors
🔹 two terraces (one being a 7x18, ideal for hosting the sunday afternoon barbecue)
🔹 a recently installed wall-mounted thermopump
🔹 crown moldings
🔹 granite bathroom and kitchen countertops
🔹 central vacuum
🔹 natural gas fireplace and barbecue entrance
🔹 1x exterior parking

Got a loved one looking to lay roots in one of Greater Montreal’s most desirable hubs? Tag them below! 👇

Book a tour to validate that the pictures really do the home justice; Sat. April 2nd from 1-4pm. 😉

🤙 514.245.1490
📧 [email protected]
🖥 groupebaronello.com

Professional Real Estate Services
Groupe Baronello in collaboration
with Re/Max Alliance Inc.
Selling | Buying | Investing | Consulting

02/24/2022

Instead of listening to reply, listen to understand.

Listening to customers is about connecting with them. It involves paying close attention to their needs and understanding how you can help them achieve their goals.

- Don’t interrupt.
- Acknowledge that the other party is heard.
- Pay attention, be present.
- Repeat what they said, summarize for clarity.
- Respond honestly without hijacking the conversation.

“Blockbuster could have avoided its downfall if the company knew right away that customers were leaving the stores upset. If customers could leave feedback, they might have complained about movies being out of stock or the newest titles not being on shelves, multiple inconveniences associated with an in-store rental model.”

At Groupe Baronello, we remain accessible to not just hear your story, but to understand what moves you.

"If you want to go fast, go alone; if you want to go far, go together." 👨‍👩‍👧‍👦👨‍👩‍👧‍👦🚀

514.245.1490
[email protected]
Groupebaronello.com
Real estate brokers without borders