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RE/MAX Balloon

David Schooley

April 23, 2021

Does a young adult need a will?

Should you pass away without a will, the province of Ontario has the power to decide how your assets will be dispersed and can settle your estate according to its own rules.
April 16, 2021

Finding an agent, Helping grown kids get into the market

The Buyer Representation Agreement is like having a matchmaking service for your property search.
April 9, 2021

“Tenants in common” ownership in a will, our appraisal came up short

The cottage may be grouped with other assets in your estate and funnelled down through your spouse or other beneficiaries.
April 1, 2021

Are listings taking longer to sell this spring?

Buyer demand has been outpacing supply for years, and a normal drop in listings over the winter only amplified the problem.
March 26, 2021

How much should we spend over asking price?

To help my clients decide what to spend, I take market conditions into account by essentially performing a mini appraisal on the property before they submit an offer.
March 19, 2021

What happens when a tenant-in-common passes away?

At this point, your dad will need to decide what the next chapter of his life will look like. First and foremost, he’ll want to consider whether owning this home still makes sense.
March 5, 2021

Neighbour’s basement apartment

Is the existence of the rental unit your main concern, or is it the tenant who is “hanging out” between your houses?
February 26, 2021

Can I fund my retirement by selling in a hot market?

As a Seniors Real Estate Specialist (SRES), I’m seeing more clients choose to leave the city for cottage-type communities where boat docks and fishing spots are minutes from home.
February 19, 2021

Why did a buyer need to pay their agent’s commission?

No buyer’s agent wants to ask their client to pay a fee that the seller usually covers.
February 12, 2021

Why are there so few houses for sale right now?

Our local real estate market is a lot like a near-empty shelf of Cottonelle.
January 29, 2021

Should we buy a fixer-upper?

You may not be able to afford a ready-made version of the house you want right now, but adding the components over time can get you there eventually.
January 22, 2021

What goes into an offer?

In reviewing thousands of offers, I often see agents who could protect their clients to a higher degree with just a few extra words.
January 15, 2021

Vacant Land Condo vs. POTL

When a vacant land condo complex is complete, it looks pretty much like a regular subdivision.
January 8, 2021

How do I spot a scam rental listing?

Cheap rent in a great neighbourhood can be a sign that something is amiss.
December 18, 2020

Steep competition can result in wildly different offers

We’re currently experiencing a heavily skewed seller’s market, which means there’s a shortage of listings and more potential buyers than homes.
December 11, 2020

Choosing an agent early in your home search

It’s essential for buyers to seek professional advice early on, if they are to navigate their home search effectively.
December 4, 2020

Why are MPAC assessed values so different from market values?

MPAC valuations are, at best, a single snapshot within a four-year assessment cycle.
November 27, 2020

How do we improve our credit score?

Credit scores are critical, as lenders use them to help gauge the creditworthiness of mortgage applicants.
November 20, 2020

How do I choose a listing price for my rental property?

From a valuation perspective, your listing price needs to target the range between what the property is earning today and its full earning potential.
November 12, 2020

Why some houses get more offers, is your agent avoiding Purple Bricks listings?

A listing that feels overpriced may see fewer offers and represent the “less competitive” buying opportunity you’ve been waiting for.
November 6, 2020

Invest or buy a bigger house? My agent isn’t available

With a growing family and a solid investment portfolio, a move to a home you expect to live in until your kids leave the nest would be well within your means.
October 24, 2020

Can buyers and sellers share a lawyer, retirement units taking longer to sell

Sharing a lawyer with your buyer is not the way for home sellers to save money.
October 16, 2020

Agent won’t present our bully offer

If offers are being held on a property, a buyer may try to side-step a potential bidding war by submitting a bully offer.
October 9, 2020

COVID Mortgage deferral is ending, I’m not back to work

COVID-19 measures have left many homeowners unemployed or reduced their hours to a point where they worry about making mortgage payments.
October 2, 2020

Fall Open Houses, Keeping buyers & sellers apart

Open houses are permitted in Phase 3, but OREA recommends they only be used as a last resort.
September 25, 2020

Importance of a separation agreement, Rising deposits

It’s common for divorcing couples to assume the equity in their matrimonial home will be split 50/50, but the division of assets can be complicated.
September 18, 2020

Out-of-province downsizing, Paying capital gains tax on an investment property

There are small but significant differences in the way that real estate is practiced from one province to the next.
September 3, 2020

Is a “free market evaluation” the same as an appraisal?

Market evaluations are subjective. As such, they can be vastly different. If an evaluation sounds too good to be true, make sure the Realtor can back up their numbers.
August 28, 2020

Why sign a Buyer Representation Agreement?

Dear David, I want to buy a cottage. I’ve called about listings in a few different areas but am having a hard time getting local agents […]
August 21, 2020

Low rates & high prices, selling during divorce

In the last fifty years of sales data, there have been only a few months here and there in which average sale prices have declined, and they’ve always recovered quickly.