Thursday, January 21, 2016

MPAC and My Home


This was a question that was asked of me just recently. Well, some of this may always remain a mystery. One may never know fully how these entities really operate. But this is my understanding and professional knowledge of this question. 

I can tell you the way that professional real estate agents evaluate a home or property. But first, in all my experiences, MPAC seems to be mysterious in some evaluations. I have seen some of their assessments right on, what the market would allow. Other times, they have been way lower and yet other assessments are so high, it makes for a good laugh. Then we have to figure out why they are so high. 

MPAC may or may not actually come to your home to see the property. Some MPAC evaluators may knock on your door and ask you a few questions just after you purchase a home.  They use their own system to determine a value to base your property taxes on. They may tend to base their assessment on factors such as:

  • location;
  • lot dimensions;
  • living area;
  • age of the property, adjusted for any major renovations or additions; and
  • quality of construction. 

  • Just know that when you get your assessment, it may not be an accurate assessment of the true value of what your home would be worth in today's real estate market.
    It is typical, that we all want our MPAC assessment to be lower than what it would really sell for in today's market. That way we pay less taxes, and no one I know wants to pay more taxes! However the assessment turns out, don't panic. Did you know, you CAN contest the assessment if you feel it is unfair?

    As for the real estate end of your home's value, that is not a real mystery, but must be considered carefully. Some of the factors that I, as a Professional Real Estate agent, take into consideration are:

    • past sold homes that are similar in many ways 
    • current homes for sale that are similar
    • the average length of time it takes to sell a home in your neighbourhood
    • the current condition of your home
    • the amount and type of product (homes) on the market
    • the location
    • the available services and ammenities
    • the MPAC assesssment (Although it may not reflect the actual market value, this still carries some consideration.)
    • this is not a full list, just some of the things I take into consideration.  

    There are other factors as well. These would actually be specific to your home and would be determined at the time you are considering to sell. Every home is different, even if they look the same from outside. Since there are so many factors that help determine a home's true value, and these can vary in every market, you need someone to help you who knows the area and the condition of the comparable homes and all the other factors. 

    A professional REALTOR® will help you determine the best value in today's market. Our real estate markets are always changing so you need to be in touch with a knowledgeable agent. Feel free to call me, if you are interested in selling or (buying), and I would be happy to help you determine what your home is worth. I never charge any fees for a consultation prior to listing your home for sale. I enjoy helping folks plan for the future. I look forward to helping you in the near future. If you have any questions or comments, I always encourage you to send me an email or call me at 705-733-5821 or email at  or visit my website at

    Thank you very much for reading this blog and I look forward to serving you in the near future. 

    Make it a great day!

    Joseph Talbot

    Monday, January 11, 2016

    Is the winter a good time to sell or should I wait until spring?

    This is a question that I get asked all the time, especially in the winter or in the months of December and January. There are many reasons why folks sell in the winter. A lot of buyers think that if a person is selling their home in the winter, they are desperate or have to sell their home. I might ask the same question as to why the buyer is looking at this time. Are they desperate? Not likely.  There are so many reasons as to why folks are selling. For example, the seller may be moving for a new job, maybe the seller is getting married, maybe they want to be closer to family, the family has outgrown the home because baby number 7 is coming in 7 months, or perhaps the home is just too big and has too many stairs and they would like to move into town into a home with no stairs. We also see folks selling their vacation home because the kids are too busy with sports in their home town and can not make it often enough to keep the home. These reasons could go for a buyer or seller. Whatever the reason is, it will not have much bearing on what the home is really worth. Every seller has a number in mind and whatever the reason is for selling they can not or will not go below that. It is my job as your Realtor to help you determine what a property is worth to you, not to someone else. Value is perceived by the people involved. If the value is not there for those involved, then they move on from that home, regardless of why the folks are selling. It is my job as a Realtor to help determine the value of a home. I would never push a buyer into making a purchase they are not comfortable with, nor would I recommend a client sell their home if it were not a good decision for them. I give you all the facts that I am aware of and my expert opinion, then you make your decision. So, there are many reasons why people are selling at this time of the year. There are definitely good reasons to sell or buy in the winter. Such as a lot less competition for both the buyer and seller. If you are interested in selling or buying this winter we would be very happy to come and have a consultation with you, with no obligations. Winter can be a great time to sell or buy. Want to find out why, check out more of our blogs and website or call/text or email us today. We would be very happy to help you make an informed decision.

    Be sure to also check out more of our video blogs, more coming every week!!

    Thank you for reading this blog and I look forward to serving you this year!!!

    Joseph Talbot, ABR®, ASA, SRES®, AGA, SRS®
    Peak Lifestyle Realty Ltd., Brokerage