Tuesday, January 29, 2013

The CNN Effect

The CNN Effect: A theory that seeks to explains the effect that 24-hour news networks, such as CNN or CBC, have on the general political and economic climate. 

Because media outlets provide ongoing coverage of a particular event or subject matter, the attention of viewers is narrowly focused for potentially prolonged periods of time. The CNN effect can therefore cause individuals and organizations to react more aggressively towards the subject matter being examined. 

For example, It can cause real estate consumers to think and believe any number of things such as the market is crashing or we are in a bubble or properties don't sell in winter months etc. 

This effect first came into light in 1980s and has since been used to describe the effects of media on general consumer behaviour. What can you do? Watch the news but don't get caught up in it. Don't hold or change your plans based on news. Definitely change or hold your plans based on advice from your consultant. 

Jagdeep Singh, B. Arch.
Real Estate Broker
Direct Tel: 647-287-4644
Direct Fax: 866-450-9199

Formally educated as an Architect, Jagdeep Singh is Toronto REALTOR™ consulting on both resale real estate and new developments. Powerful Local Focus on Real Estate with a Global Perspective™
This post is for information purposes only. Though effort has been made to ensure the accuracy of the contents, the reader is advised to verify the information independently. This post may contain contain information that is privileged, confidential and exempt from disclosure under applicable law. The reader is not allowed to reproduce it in any medium without the author’s prior written permission. Jagdeep Singh is a broker with Century 21 Heritage Group Ltd., brokerage (416) 798-7133 which is independently owned and operated. This message is not intended to solicit parties currently under contract.

Friday, January 25, 2013

Real Estate that Got Expensive Very Fast

The following were apparently the top global destination for super rich in the world. This of course is as indicated by the gains in real estate. The criteria was to look at individuals with a high net worth of more than $25 million in investable assets. 

The first number is the price per square metre (divide by 10.76 for price per square foot). The second number is the price change in last 5 years for luxury homes. Enjoy :)

Beijing              $17,500  +96%
St. Petersburg   $20,200  +77%
Shanghai          $19,600  +69%
Hong Kong        $28,300   +60%
Mumbai            $11,400  +64%
Jakarta             $2,900    +32%

Close to home Manhattan was at +24% or $23,300 per square metres.

The price per square metre in Hong Kong is for apartments.

Jagdeep Singh, B. Arch.
Real Estate Broker
Direct Tel: 647-287-4644
Direct Fax: 866-450-9199

Formally educated as an Architect, Jagdeep Singh is Toronto REALTOR™ consulting on both resale real estate and new developments. Powerful Local Focus on Real Estate with a Global Perspective™
This post is for information purposes only. Though effort has been made to ensure the accuracy of the contents, the reader is advised to verify the information independently. This post may contain contain information that is privileged, confidential and exempt from disclosure under applicable law. The reader is not allowed to reproduce it in any medium without the author’s prior written permission. Jagdeep Singh is a broker with Century 21 Heritage Group Ltd., brokerage (416) 798-7133 which is independently owned and operated. This message is not intended to solicit parties currently under contract.

Thursday, January 17, 2013

Problematic Factors for doing Business in Canada

The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas. Among other reports it publishes Global Competitiveness Report that highlights world economies, their strength and weaknesses, and provides the competitive landscape of these various countries. 

The report also an insight in to the drivers behind the productivity and prosperity of various countries. It is by far the most comprehensive assessment of national competitiveness. Here are Canada's top 5 "Most Problematic Factors for doing Business in Canada".

5.  Tax Rates - why is this not a surprise? Don't we all feel this regularly. Taxation in Canada is almost stifling. 
4.  Inadequately educated workforce - This came as a surprise to me. Let me know your thoughts on this one. I think we are suffering as a nation because as a country made up of immigrants, we need to have a better program for assimilating the immigration influx and utilize their talents effectively. When our doctors, lawyers and engineers are driving taxis, trucks or working in call centres, no wonder we are ranking poorly on this. 
3.  Access to financing - Is Jim Flaherty reading this? 
2.  Insufficient capacity to innovate - I don't know anything about this one, and the number one is
1.  Inefficient Government Bureaucracy - Wake up Ottawa. 

Screen_shot_2013-01-17_at_9

Overall Canada is ranked number 14, behind countries like Switzerland (1), Singapore (2), Germany, US and UK ranked 6, 7 and 8. Get this, Hong Kong, Qatar and Taiwan are better than us at 9, 11 and 13. Last on the list is Burundi ranked at 144.

From a real estate perspective specifically in Toronto, if you are not in the above list, you may want to consider moving to the lovely city we call home - with one of the most vibrant economy and multicultural place to be in Canada. 

Jagdeep Singh, B. Arch.
Real Estate Broker
Direct Tel: 647-287-4644
Direct Fax: 866-450-9199

Formally educated as an Architect, Jagdeep Singh is Toronto REALTOR™ consulting on both resale real estate and new developments. Powerful Local Focus on Real Estate with a Global Perspective™
This post is for information purposes only. Though effort has been made to ensure the accuracy of the contents, the reader is advised to verify the information independently. This post may contain contain information that is privileged, confidential and exempt from disclosure under applicable law. The reader is not allowed to reproduce it in any medium without the author’s prior written permission. Jagdeep Singh is a broker with Century 21 Heritage Group Ltd., brokerage (416) 798-7133 which is independently owned and operated. This message is not intended to solicit parties currently under contract.

Thursday, January 3, 2013

Sell Your Home Yourself


For Sale By Owner or FSBO websites and advertisements make selling your own home sound easy but there are some very real FSBO Challenges to consider. Understanding how FSBO listings work plus the advantages and disadvantages of selling FSBO versus listing with a real estate agent assures you select the right choice for your individual situation.

The most often cited advantage of listing a house for sale by owner is saving the real estate commission, but a closer look at how real estate commissions work deserves attention. A typical real estate commission is usually .06% to .07% of the selling price of the home. To keep things simple let's use .06% for this example on a $200,000 home. The total commission would be $12,000 but it is often shared by as many as four people. It works like this; when you list your home the listing agent and broker would be responsible for .03% of the commission (Approximately $3,000 or .015% each) while the selling agent and broker would be responsible for the other .03% or .015% each.

One of the challenges of listing your home for sale is enticing other real estate agents to show your home to their clients. To successfully do this you will need to provide an incentive by paying a similar real estate commission such as the typical .03% for the selling agent and broker. In our example above that means your total savings is now only .03% or $6,000. From that amount you must deduct the MLS listing fees, signs, advertising, lost wages for showing the home and much more.

To calculate if listing your home FSBO really makes sense, calculate the true cost of doing it yourself. Remember, it takes an average of six months to sell a home so when calculating the cost of advertising and other expenses use a six month average estimate of: Selling agent commission, MLS Listing fee, Signs, Posters, Flyers, Internet Advertisement with photographs, Newspaper Classified Advertisements, Missed Wages to Show Home, Market Research, Legal Fees to Create & Review Contracts, Escrow Company and Other Miscellaneous Costs.

Now compare the total savings against the time and money you will pay a traditional real estate agent and broker for listing and selling your home to decide if facing the FSBO challenges is the right choice.

Jagdeep Singh, B. Arch.
Real Estate Broker
Direct Tel: 647-287-4644
Direct Fax: 866-450-9199

Formally educated as an Architect, Jagdeep Singh is Toronto REALTOR™ consulting on both resale real estate and new developments. Powerful Local Focus on Real Estate with a Global Perspective™
This post is for information purposes only. Though effort has been made to ensure the accuracy of the contents, the reader is advised to verify the information independently. This post may contain contain information that is privileged, confidential and exempt from disclosure under applicable law. The reader is not allowed to reproduce it in any medium without the author’s prior written permission. Jagdeep Singh is a broker with Century 21 Heritage Group Ltd., brokerage (416) 798-7133 which is independently owned and operated. This message is not intended to solicit parties currently under contract.

Friday, December 28, 2012

5 Things you need to know before selling your Home

You are planning on selling probably your single biggest asset and perhaps moving up or moving into something manageable, either way, you want to get the most for your house. 

1. First of all you need to know what is your house worth. 
2. Declutter - I am sure you have lots that you have accumulated over the years that you can get rid off. Perhaps a garage sale
3. A REALTOR - Do yourself a favour and choose a REALTOR who does it, perhaps full time, for a living. Guaranteed REALTORs sell more houses than you ever will and the commission is worth it. For every $1000 that a REALTOR will get extra for your house, you get to keep $950 and the REALTOR only takes $50. Even that is split in to two (for the listing and the selling REALTOR). 
4. Depersonalize your home - It is simple to do. It should look like a hotel room.
5. Motivation - Do you really need to sell or want to sell? If yes, then do everything accordingly including pricing it at the optimum price.

Jagdeep Singh, B. Arch.
Real Estate Broker
Direct Tel: 647-287-4644
Direct Fax: 866-450-9199

Formally educated as an Architect, Jagdeep Singh is Toronto REALTOR™ consulting on both resale real estate and new developments. Powerful Local Focus on Real Estate with a Global Perspective™
This post is for information purposes only. Though effort has been made to ensure the accuracy of the contents, the reader is advised to verify the information independently. This post may contain contain information that is privileged, confidential and exempt from disclosure under applicable law. The reader is not allowed to reproduce it in any medium without the author’s prior written permission. Jagdeep Singh is a broker with Century 21 Heritage Group Ltd., brokerage (416) 798-7133 which is independently owned and operated. This message is not intended to solicit parties currently under contract.

Wednesday, December 26, 2012

5 Tips to Hiring a Contractor

1. Check credentials and complaints.
2. Be thorough with references.
3. Beware of low bidders.
4. Get everything in writing.
5. Don't pay too soon.


Jagdeep Singh, B. Arch.
Real Estate Broker
Direct Tel: 647-287-4644
Direct Fax: 866-450-9199

Formally educated as an Architect, Jagdeep Singh is Toronto REALTOR™ consulting on both resale real estate and new developments. Powerful Local Focus on Real Estate with a Global Perspective™
This post is for information purposes only. Though effort has been made to ensure the accuracy of the contents, the reader is advised to verify the information independently. This post may contain contain information that is privileged, confidential and exempt from disclosure under applicable law. The reader is not allowed to reproduce it in any medium without the author’s prior written permission. Jagdeep Singh is a broker with Century 21 Heritage Group Ltd., brokerage (416) 798-7133 which is independently owned and operated. This message is not intended to solicit parties currently under contract.

Monday, December 17, 2012

Positive Thinking

Aren't we all guilty of misusing and abusing the single most important asset we will ever have? Our mind can be defined as “the human consciousness that originates in the brain and is manifested especially in thought, perception, emotion, will, memory and imagination.”

If you need a simpler and more practical definition, it is “the faculty of thinking, reasoning, and applying knowledge.” Why, then, is it the most abused and misused asset man possesses?

One of the most enlightening and inspiring books I have ever read is “As a man thinketh” by James Allen. In this book he compares the mind to a garden. He says: “A man’s mind may be likened to a garden, which may be intelligently cultivated or allowed to run wild; but whether cultivated or neglected, it must and will bring forth. If no useful seeds are put into it, then an abundance of useless weed-seeds will fall therein, and will continue to produce their kind.”

Whatever is planted in that garden is what will be reaped. Just as you cannot plant corn and reap oranges, so you cannot plant destructive thoughts and reap a happy and successful life. If you plant positive thoughts you will reap positive results. Plant negative thoughts and you will reap negative results. Neglect to plant anything at all and the weeds will inevitably take over.

Positive thinking - it's all in Your Control

There is a reason why a lot of people don’t believe in positive thinking. It is simply that they do not want to face the fact that their lives are totally in their own hands. Believing in positive thinking would mean that they cannot blame their lack of education, their parents, teacher or spouse for their failures.

It is much easier to think there is some force out there called “destiny” that is just against you and takes pleasure in seeing you suffer. We would be so much better off if we didn't have anyone else to blame. 

Choose your response

I am not saying that bad things don’t happen in life. Sometimes they do happen. However, your response to what happens to you, whether good or bad, is your choice. Here is my favourite equation: E X R = O where E is Event, R is Reaction and O is Outcome. Event is something we can't always control. We can however control the R, which is our reaction. And by applying the appropriate R factor, we become in control of the outcome. It really is that simple. 

Positive thinking: Feed your Mind Right

Your mind will work just as hard to make you fail as it will to make you succeed. It does not discriminate between good seed and bad seed. That should be great news. The amount of effort it takes to fail is the same amount of effort it takes to succeed as far as the mind is concerned. It is your responsibility to provide it with the right seeds of thought.

How do you change your negative thoughts into positive thoughts? It has taken years, if not decades for some of us to develop the negative thought patterns that we may have. So it would be absolutely impractical to expect to change these thought patterns overnight. Like the gardener who takes tender care of his garden, slowly weeding out the unwanted plants and giving care and nurturing to the desired plants, we must get rid of the negative thoughts and replace them with positive ones.

We cannot simply decide that you will stop thinking negatively. The mind cannot be a vacuum. Something has to be there. So we have to start thinking positive. It should be a process of replacement of the negative with the positive.

The Power of Association

By far the best way to change your mind set is to associate with other great minds. The saying “show me your friends and I will show you your future” is right on the spot! The company you keep says a lot about who you are and how you think. If you do not have company worth keeping, do not lose heart. This is, after all, the information age. Through books, music, movies and the internet you can have access to the greatest minds that ever lived. Reading in particular has great potential to break the chains on your mind and expand it to greater dimensions.

Take every opportunity you have to read inspiring, uplifting and motivational books that will slowly but surely help you to create a beautiful garden in your mind and weed out the suffocating thoughts that so easily control our lives.

Guard your mind jealously. Stay away from any form of negativity. This includes “good” friends that are a danger to your thinking. You don’t have to read everything in the paper about murder, death and suffering! Don’t join the pity party about how “the economy is tough and you are just barely managing.” Stay positive in all circumstances.

Enjoy the holidays, eat healthy, exercise and stay positive. 


Jagdeep Singh, B. Arch.
Real Estate Broker
Direct Tel: 647-287-4644
Direct Fax: 866-450-9199

Formally educated as an Architect, Jagdeep Singh is Toronto REALTOR™ consulting on both resale real estate and new developments. Powerful Local Focus on Real Estate with a Global Perspective™
This post is for information purposes only. Though effort has been made to ensure the accuracy of the contents, the reader is advised to verify the information independently. This post may contain contain information that is privileged, confidential and exempt from disclosure under applicable law. The reader is not allowed to reproduce it in any medium without the author’s prior written permission. Jagdeep Singh is a broker with Century 21 Heritage Group Ltd., brokerage (416) 798-7133 which is independently owned and operated. This message is not intended to solicit parties currently under contract.