LeapZipBlog: shahab

shahab's blog

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Downpayment For a Condo

February 21, 2020 by shahab  

Many first-time home buyers, or current tenants have the dream of owning a home. In Toronto’s real estate market, climbing the property ladder for first time buyers mostly start from buying a Condo. For the first-time buyers providing down payment for a condo can be challenging. Minimum downpayment for a condo is 5% if you can be approved for an insured mortgage.

If you are a condo investor, the typical condo down payment would be 20%. The Loan to Equity ratio however depends on your Debt Service and affordability too. But for first time-buyers who get insured mortgages, the average downpayment is 10%.

 

Purchasing a condo, other than down payment, includes other costs too. Such as land transfer tax, moving costs, etc. However first-time home buyers have some exceptions when it comes to land transfer tax. In this article we’ll tell you how you can save money on land transfer tax if you are a first-time home buyer.

 

If you are short in terms of down payment, there are numerous creative ways to gather the downpayment for your home, especially for first-time home buyers. We’ll discuss that in this article. Any of our top Toronto real estate agents can help you with getting your first condo.

Downpayment for a Condo

Downpayment for a condo in various areas of Toronto:

In the Greater Toronto Area ( GTA) the average condo down payment is based on the average price of a condo apartment. The average price of a condo in GTA, beginning of 2020, is $612K, so the average downpayment for a condo in GTA is between $30,000 to $120,000 depending on how much you approved for the mortgage.

In downtown Toronto however the numbers are slightly different. Average condo downpayment for a condo in downtown TOronto is between $38,000 to $150,000. The average down payment depends on how much you get approved for a mortgage. The average price of a condo in Downtown Toronto beginning of 2020 is $772K.

In the other parts of TOronto however the amount of average condo down payment is slightly lower though. The minimum down payment for a condo in other parts of Toronto is between $33K to $130K, depending on how much mortgage you get approved for.

Where to get the downpayment for a condo from:

For many young people the dream of owning their first condo ties with the Down Payment. I, as a Toronto Real Estate Agent, have helped many first time buyers with purchasing their first condo. Not everyone has a hundred or two hundred thousand dollars to put down as their condo’s down payment. Thus young buyers sometimes can get creative to find ways to leverage and put together the down payment for their first condo.

 

Below you can see the ways that my clients used to put together the downpayment for a condo:

1. Personal Savings

The first place and easiest source that you can think of, is personal savings. Many of us have left money in savings accounts to grow. If you have money in your savings account, or you have Stocks in your Tax Free Savings Account that are not performing very well, you can liquidate them and put them towards your home ownership. 

 

2. The RRSP under Home Buyers’ Plan

With the Federal Government’s Home Buyers’ Plan now you can use up to $35,000 of your RRSP savings to put towards your condo’s downpayment. If you are a couple you can use up to $70,000 of your RRSP towards the downpayment of your new home. This method could save you taxes as well. How? Read below.

However, to qualify for that, the funds need to be in your RRSP for a Minimum of 90 days prior.

The cool part is that withdrawal of your funds from your RRSP is not Taxable if you pay it back within 15 years.

Another great advantage that this method has, is tax deductions on your income. For example, if you have already saved $35,000 for a down payment, you could move your savings into an RRSP at least 90 days before your closing date, if you have that much contribution room in your RRSP.  This way your $35,000 of RRSP contribution will count as a tax deduction this year. Then you can use any tax refunds that you get, and put that towards the downpayment, or moving costs etc. Remember that you still need to return that amount within the next 15 years.

 

3. Bank of Mom and Dad, or Grandma

 

In recent years, many of the homes in TOronto have seen huge capital gains. Older parents who own their homes, and bought it 20 years ago for a few hundreds of thousands of dollars. Now usually they have a paid off, or nearly paid off home, worth over a millions of dollars. That will make them able to get a line of credit on their home equity in order to help their adult children with the downpayment for their condo. Some parents have savings who are willing to help their children with, to make their home ownership come true.

In a recent survey from CreditCards.com , around 90% of people have mentioned that they would give their adult children the money to pay off their debts. Of course that depends on How much Money you need, and how good of Child you’ve been, just kidding.

So you might be able to ask your parents or family for a little boost if they are willing to help you to become a homeowner.

4. Co-Ownership

This option is a great one for millenials. I personally as a Toronto real estate agent help many millenials to get into their market. And with the housing price in Toronto, and the fact that millenials would like to live closer to the central areas and core, this options has come in handy. That’s how it works, for example two people who each can afford up to $500,000 and would love to live near downtown Toronto, but can not find what they want with that price range, join forces and get into a joint ownership. That way they buy a Duplex property for $900,000 and live in that property. This can be done for smaller families or younger couples. For more details and locate the best properties for co-ownership, you can contact us.

What is Network Virtualization?

January 26, 2020 by shahab  

Network virtualization or in other words Network virtualization is one of the ways that has just entered the technology world.
Network virtualization is actually a way of separating network resources and computing resources as well as assigning them to a virtual network, which is to integrate multiple programmable and independent virtual networks.
In this case, the virtualization of the network is all hardware as well as software within a virtual network. Another type of network virtualization works this way The various segments of the network are shared by a known physical segment.
Network virtualization can be called the creation of virtual networks within a server that can communicate with virtual systems and form a virtual security zone.
Network virtualization is actually a new way and achievement to facilitate the deployment of Internet services.
An advantageous technology to use infrastructure due to better utilization of physical or logical resources for multiple networks or greater congestion than multiple sources.
(These are the same network components that can include routers, virtual machines, switches, and so on) and are created to gain more capability and benefit.
For this reason, network virtualization reduces the overall cost of sharing network resources. In fact, the end product of network virtualization is the virtual network.

 

Source: http://vipromise.com/

What is World of Warcraft?

January 16, 2020 by shahab  

On December 23, 2004, I rolled my first character in World of Warcraft. It seems almost impossible to imagine that this was a little over nine years ago, but I still remember the day clear as a bell. A friend told me where to make a character and what faction to use, and offered me a guild invite the moment I logged in -- an Alliance guild that, to my knowledge, no longer exists. That began a journey that was a long, impossible at times, climb to level 60. Along the way, I made a ton of friends both in the guild and out, and when I hit level 60 it seemed like an incredible accomplishment. But as I shook off the haze of congratulations and cheers, I realized I had little to no idea what came after you hit level 60 -- and frankly, neither did anyone else.

Ironforge was the place to be. If you were Alliance it was the only place with an Auction House. Players spent hours upon hours outside the front gates dueling each other. There was no PvP as we know it today -- Battlegrounds didn't exist, so PvP was relegated to long, drawn out battles between Tarren Mill and Southshore. The options seemed to be as follows: Run Stratholme, Scholomance, and UBRS to collect your blue dungeon set. Go raid either Molten Core or Onyxia's Lair. And ... that was it. Needless to say, my next option was to roll an alt and find a raid guild. What other choice did I have, at the time?

As the game has progressed over the last nine years, those choices have expanded into a flurry of content that dwarfs everything that has come before it. And that makes me wonder -- just what is World of Warcraft, now?

 

Reputation and dailies

In the early days of vanilla, dailies and reputation didn't exist. You could gain reputation for a few different factions, if you were crazy enough to grind mobs for hours, but it was by and large optional content that really didn't have a point. It wasn't featured content for hitting level 60. Going back to do old quests was pointless -- the experience to gold conversion didn't appear in WoW until March of 2006, making doing those old quests in the early days a needless waste of time. This also made making any kind of gold once you'd hit level 60 an excruciating experience.

In Burning Crusade, the two major daily quest hubs, Ogri'la and Skettis, were both introduced with an entire wheelhouse of daily questing -- the first reputation based daily setup we'd ever seen, and a repeatable way to make extra gold. Wrath of the Lich King embraced this model as a method for gaining reputation all over Northrend. Cataclysm had only a handful of reputations, some that involved daily quest hubs, and some that only offered reputation gain by wearing a tabard and running dungeons. Here's where the breakdown happened -- even the reputations that had daily quests also had that tabard option.

So imagine, if you will, you're a player trying to get things done. You're offered two options of doing exactly the same thing: one is a slow and steady progression completed over weeks of doing quests. The other is a fast-forward method of getting everything done at once, without any kind of artificial gating in front of it. Why, when given a choice between the two, would you ever in a million years choose the slower option?

This is why tabard reputation was easily the biggest mistake Blizzard made in Cataclysm. Because once you open that faster, easier, race-to-the-end floodgate, you can't shut it again. You can remove those tabards with the next expansion -- which Blizzard did, in fact, do -- but players will forever remember the days in which they could hurriedly speed to the end and reap all the rewards with no gating and no real effort. And they will long for those days, because for some reason, getting to exalted has become a big "The End" on reputation grinding, rather than the process itself being an enjoyable journey. Do you know what happens after "The End?" Absolutely nothing.

So why is everyone in such a hurry to get there?

What is Endgame?

World of Warcraft is several different games wrapped up into one. There's your questing element, usually experienced through the leveling process, your PvP content, for those that enjoy the challenge of facing off against other players, and then there's this mysterious "endgame" element that most people have taken to mean, over the years, as raid content. There is also a giant influx of players who surmise that the game itself doesn't really begin until endgame, which is about as far from the truth as you can get. The game begins when you log in and create a character.

That game, the leveling game, is a giant portion of content that seems to be overlooked in favor of rushing to the end. When you reach that magical "endgame" portion of Mists, you'll find that there are more choices than ever before as far as things to do. Heroic dungeons, scenarios, heroic scenarios, challenge mode dungeons, PvP battlegrounds, arenas, the Brawler's Guild, Proving Grounds, legendary quest chains, the raiding scene itself -- and an obscene number of daily quests for various reputations.

That mythical promise of "endgame" seems to be a lure that causes players to leap through any leveling or questing content as fast as they can. Even when reaching endgame, the thought of doing daily quests bothers players -- because they want the reputation immediately. They want the upgrades immediately. They don't want to be artificially gated through some sort of daily system, they want to be able to get all the rewards as quickly as humanly possible. And it's weird seeing this progression, because in the early days of vanilla, this mysterious "endgame" was nothing more than a handful of activities to be repetitively run.

The idea of a game

What is a game? A quick jaunt to Google defines the term as "A form of play or sport, esp. a competitive one played according to rules and decided by skill, strength, or luck." It's a hobby. It's something you do for enjoyment. It's a pastime. It's something that you do, quite literally, to pass the time -- and it's supposed to be fun. When you take out the passing time portion of gaming, aren't you defeating the purpose of it being a pastime in the first place?

And how does WoW fit into that equation? World of Warcraft is nearly ten years old. When you pay for the game and start from ground zero, you have almost ten years of content to play through. When you phrase it in that fashion, it makes it seem like the most daunting task in the world. But leveling up to 90 has never been easier -- players will find themselves out-leveling zones before they even finish the main storylines in the area, shuffled down the line and moved on before they really comprehend what was really going on. Before they know it, they'll be at level 90, faced with a daunting list of things that need to be done before they can "really start playing the game."

At this point in Mists of Pandaria, if you reach level 90, you still have a lot of catching up to do. Before you can leap into full raiding content with your friends, you have to be geared to do so. There have been several shortcuts implemented to get people there -- the most notable being the addition of plenty of high-level gear tokens on the Timeless Isle -- but even if you collect all of those tokens, you'll still likely be in LFR or Flexible raids for some time gathering pieces before you're considered viable enough for normal-mode raiding. There is no rushing through that process.

WoW's evolution

Somewhere in between vanilla and now -- I'm not sure when, exactly, perhaps in Burning Crusade -- the definition of what World of Warcraft is changed. Level 60 was a milestone celebrated by players in vanilla, and now hitting max level means nothing. There's so much to do beyond level 90 that the actual act of getting to 90 isn't really worth recognition -- it's become a footnote in the long crawl of things to do after you get there. It's become so much of a footnote that in Warlords, players will be able to take a character to 90 in the blink of an eye, shuffled off to the brand new shiny content available with the expansion.

That original level 1-60 experience means absolutely nothing now.

And that bothers me on some obscure level, one that I can't quite pin down. What's at the end of WoW? Another level of gaming to do. And what happens when you reach the end of all there is to do at max level? Nothing beyond waiting until the next expansion comes out. Is that really what people are racing for?

Why do you continue to play the games you play? Is it the lure of repeatable content at the end of it all, is it the familiarity of hanging out with friends and family, is it the story that winds itself through all the content? Are you more concerned with the journey, or with getting there in the end? And when you get to the end, what do you expect out of the experience? What do you want out of the game you play, what makes it all worthwhile to you?

In the dawn of a new year, I'm trying to figure out my own answer to that question. Until then, I'll be doing what I always do -- playing with my friends, killing some dragons on the internet, and trying to puzzle out stories that have yet to be.

 

Source:https://www.engadget.com/2014/01/03/what-is-world-of-warcraft/

Tehran Gargo

January 7, 2020 by shahab  

Tehran Cargo under the name of Salam Bar with over 20 years of experience in the transportation industry is ready to provide freight services to our dear compatriots. Carry home cargo and furniture throughout the 21 districts of Tehran safely. Powerful and experienced cargo and handling personnel will handle you with integrity.

Carrying Home Supplies (Toys)
Tehran freight to the city
Packaging of cargo and home furnishings
Carrying bridal dowry Tehran and the city
Freight Forwarding Offices And Organizations
Provide a valid bill of lading
Cargo insurance
Professional and ethical personnel
Complete and modern equipment

 

Home Supplies (Toys)
You may want to move one or more pieces of your home. If so, our freight company is with you.

Transportation by refrigerator, bypass, stove, washing machine and dishwasher, heater, treadmill, stationary bike, furniture, air conditioner or other home appliance are part of the home furnishing services provided by skilled personnel. Hi-speed is done with high accuracy and speed.

 

Source: باربری تهران

What does a real estate agent do?(for buyers and sellers)

December 17, 2019 by shahab  

If you are planning to buy or sell a home, you might ask yourself:

In order to answer those questions, first look at different positions:

  1. I want to buy a home, why do I need a real estate agent? What does a real estate agent do for a buyer?
  2. I want to sell my home, why do I need a listing agent? What does a real estate agent do for a seller?
  3. I want to sell my home and buy another home, how an agent can help me? (Upsizing or Downsizing)

In this complete guide we are gonna go discuss thoroughly the above questions in different positions and how a real estate agent can help a buyer or a seller.

If you are a buyer, whether first-time buyer or an investor interested in investing in real estate and generate cash flow from your investment property, the next part is for you:

What does a real estate agent do for a buyer?

A real estate agent representing the buyer, which briefly we call it a Buyer Agent, helps his/her clients or customers, to navigate through the ups and downs of acquisitioning a home. Purchasing a home, whether you are a first time buyer, or a seasoned investor, is a big decision. A knowledgeable real estate agent can help the buyer with: 1. finding them the right fit, 2. Assessing the pros and cons of each option 3. Pointing out if there is any red flag 4. negotiating the deal, 5. Providing support till the deal closes, 6. Our agents even try to go further and not stop at the closing of the deal, but to make sure the buyers will have a smooth transition.

1.How a real estate agent can help you find the right property?

A seasoned and qualified REALTOR® should have both technical knowledge about A. the property class that you are looking for, i.e. Detached House, a Townhouse, or a Condo Apartment and B. The area that you are looking to live in.In addition to technical knowledge, a top real estate agent, has good listening skills, he/she would listen to the buyer’s needs, what are the wants and what are the requirements. For example if you are looking for a specific school boundary, or you need to have the east or west light, or you want to have a CN Tower or Lake view from your downtown condo.On top of that, a great real estate agent would EDUCATE his/her clients along the way. Analysing the real estate market trends in TOronto’s market, collecting neihgborhood’s trends, providing demographic information to the buyers and such and such.

2.How a real estate agent can help with assessing the pros and cons of each property?

One of the things that you might face is when you shortlist 2 or 3 properties and are looking to narrow down your options to The One. A real estate broker can help you by listing each proeprty’s pros and cons, based on your future usage ( i.e. you see a property that might look great at the first glance, but your kids are gonna grow up in a few years, so you might need the property to have room for expansion, a top Toronto realtor can give you ideas about the future expansion, and those hints may save you extra cost to sell in a few years and move to a bigger place, instead of doing small renos or expanding the current property)

3.Pointing out red flags of a property.

An experienced real estate agent in a vast market like Toronto can point out red flags to you while you see the properties during the showings. An average consumer buys and sell a property 5 times in their life span, but a top real estate agent could do tens of real estate transaction in just one year.

4.How a real estate agent negotiates a deal?

When it comes to purchasing a property, a top agent can negotiate not only the price, but the conditions of the deal too.Negotiating on the price starts with a CMA ( Comparative Market Analysis), which literally means the appraisal or evaluation of the property that you wanna put an offer on. By analysing the area, and comparables, your realtor will give you an idea of a fair value of the property, thus your real estate agent can protect you from overpaying for a property. Sime times a top Buyer Agent may even get the property with a Cheaper price ( a good deal) for the buyer if he sees an opening in the negotiation process with the seller’s side.In pricing a property there can be different scenarios, a property may be under listed, or over priced, or fairly priced to sell. In another Article we’d explain about the different methods of pricing.The conditions of the deal are important, conditions can vary from the closing date, vacant possession, inspections, financing, any repairs if needed, any buy-out of the rental items in the house and similar things.

5.Support until the closing

After the acceptance of the offer, an agent should get in touch with the buyer to make sure the conditions of the contract being met, such as helping the buyer with home inspection, following up with the buyer to get the financing and or mortgage approval done, and inspecting the property again before the closing date to make sure the seller is handing over the property in the same state.

6.Smooth transition

If you are new to the city, or moving to a new neighbourhood, you might wonder who are the reputable movers, what is the utility provider, how to set up your utility accounts. If you are moving to a house from a condo you might have tons of questions, how to take care of the lawn, what if the garage door opener doesn’t work and other concerns that you might have. A great real estate agent would go above and beyond, by continuing the support, even after the closing of the property.

Now that you’ve learned about services a real estate agent can provide for a buyer, it’s time to discuss the seller’s position. Next part is a complete review about what a real estate agent do for a seller:

What does a real estate agent do for a seller?

A real estate agent representing the seller, is briefly called the Listing Agent, has duties to his client ( the seller) and will navigate the process of selling a home. Selling your house can be a stressful process, and in order to manage and deal with the stress when selling your property, you can use the help of a top listing agent. A top real estate agent can help a home seller by: 1. Evaluating your home’s price and doing the CMA 2. Setting the Pricing Strategy 3. Setting the Marketing strategy 4. Preparing the home for sale 5. Setting the strategy and managing the offer presentation 6. Following up to make sure you are gonna have a smooth transition and buyer closes the purchase successfully.

1.Home Price Evaluation or appraisal

The first step to sell your home is to know how much your home is worth. If you simple are wondering “ how much my home is worth? “ you can submit your request in this page in order to get an approximate home valuation.But if you are looking to sell a property, this is what a top listing agent will do for you first. Your real estate agent Agent would evaluate your home’s price by creating a CMA report.CMA stands for Comparative Market Analysis, basically, the listing agent uses comparables, and the features, in addition to other market factors and Indexes to come up with the right price for your home.Evaluating the property based on CMA in most cases needs the listing agent to walk through your property to see the condition of your home.

Actually that’s a great opportunity for both you and your REALTOR® to walk through the home together. While you show your home to the agent, you can serve two purposes, first is that you can show all the upgrades or renovations that you’ve done and can add to or increase the value of your home. Second purpose is that you can also evaluate the listing agent that you are interviewing and decide if you want to hire or not.

2.Setting the pricing strategy ( it really matters, and is not one strategy fits all home sales)

In Toronto’s real estate market, there are various micro markets. Each neighborhood has a different behaviour when it comes to economic factors, supply, demand, and demographics. You may ask yourself if I price my home high to leave room for negotiations? Or should I low price my home to get more attention? The answer is: It depends on the micro market your property is located at. In some markets, pricing low and waiting for multiple offers can be a good strategy, whereas in some markets you have to price it at the market price. Even pricing it high can have backlashes, what if for example your home worth $800,000 but you price it high, in that case you might lose the potential buyers who are pre approved for a mortgage and can not go higher than $800,000 , if they set their limit around or below that number, you’ll lose them by pricing your house high.

3.Setting the marketing strategy

This is another important step that a great listing agent has to come up with marketing strategies that actually work for you type of property, neighbourhood and the area that you are looking to sell. A top  listing agent in addition to the above, would define a picture of the potential buyer, and make sure that your property get that exposure too. ( i.e. for a two bedroom condo townhouse near downtown Toronto, a potential buyer image can be a young family, without a kid, or with one kid, professionals, aged between 30 to 40, and so on). Your listing agent should make sure to get the maximum exposure for your property. There are different marketing strategies, from open houses to online to Virtual reality, each marketing strategy has to be curated based on the audience you are targeting.

4.Preparing the home for entering the market ( make it more marketable)

In order to get the top dollar, after planning a property marketing strategy, you have to make your home presentable. It can include staging consultation, de cluttering, painting, small renovations, landscaping and curb appeal, final staging before hitting the market, professional videography, and so on. ( You can read more about it how to make your home more presentable for sale? )

5.Managing offers and offer presentation

Offers when starting to come, can contain different clauses and conditions, which a seasoned real estate agent can explain to you the pros and cons of each clause or condition, and advise which offer can be the better offer, ( the price is not always the only important thing, there might be clauses in the offer that make an offer obsolete.

6.Following up to make sure buyer closes the deal

After you as the Seller, receive an accepted and Firm Agreement of Purchase and Sale, the job is not done yet. You may think that I have sold my house, even though the agreement is firm, a prudent Listing Agent would keep continuing to advise his/her client and follow up the deal to make sure the deal closes successfully, according to the agreement. On top of that a great Listing Agent would do his best to make sure the seller’s transition to their new place happens smoothly.

If I want to sell and buy, should I sell first or buy first? What does a real estate agent do for someone who wants to sell and buy?

If you want to sell your current home and buy a new home,the services that your real estate agent will provide for you is a combination of the above two services, helping you buy and sell. However you might already be wondering which one you shall do first? That’s a great question.

Shall I buy first or sell first? Best real estate agents know that answering to that question is totally depending on the Type of the property and Where about of your current and target micro markets ( where your current home is located, and where do you want to buy in) .

To put it simply, look at the below scenarios:

  1. You own a house in 905 area, for example, York Region, Richmondhill, and you want to down size to a condo Downtown Toronto and enjoy what the city has to offer. In your case, right now as I write this article, the level of inventory for a Detached house in Richmondhill ( Absorption rate or month of inventory) is around 5 month of inventory. And the MOI in Downtown Toronto, for a Condo apartment is 1.5 Months of inventory. That means the average house in Richmondhill will take longer to sell, than a Condo in downtown. So if you buy your condo first and try to sell your house later, you may face difficulty if you rely on the proceedings of the sale of your house to close your condo purchase. So in this given scenario, it’s better to sell your home first, preferably with a bit longer closing, then buy a Condo in downtown.
  2. You own a condo downtown, and are in the stage that planning to expand your family and you would need more rooms. You want to sell your condo downtown and buy a house or a townhouse in 905 area. Depending on your target market, your agent shall consult you whether to sell or buy first.

There are different levels of organizations that govern real estate and make sure that it works in ways to protect the consumer.

A summary of how real estate is organized in Canada and Toronto:

Real Estate in Canada is organized and operates in 3 different levels, CREA ( The Canadian Real Estate Association ) represents the agents in the national and international level. A REALTOR®  or a real estate agent working in Ontario has to be registered with Real Estate Council of Ontario. Real estate boards, such as TREB ( Toronto’s Real Estate Board) operate at a local level. A real estate agent in Toronto would be part of TREB, and with access to TREB’s MLS®, the realtors working in Toronto, can list the properties on TREB’s Multiple Listing Service® and benefit from a high exposure.



Source: https://torealestateagent.com/what-does-a-real-estate-agent-do/