Realtor Vishnu Gabbula

Let's say your car was severely damaged in a hailstorm, and you're looking to claim it as a total loss. Car Details: Car Make and Model: 2018 Honda Civic Actual Cash Value (ACV): $15,000 Repair Estimate: $18,000 Deductible: $500 Remaining Loan Balance: $16,000 (optional for gap insurance example) Steps to Claim a Total Loss: 1) Report the Damage: You contact your insurance company immediately after the hailstorm and provide details along with photos of the damage. 2) Assessment: An insurance adjuster inspects your vehicle and determines that the repair cost is $18,000, which exceeds the car’s ACV of $15,000. 3) Total Loss Declaration: Since the repair costs ($18,000) are higher than the car’s ACV ($15,000), the adjuster declares your car a total loss. 4) Settlement Offer: The insurance company offers you a settlement based on the car’s ACV minus the deductible: ACV: $15,000 Deductible: $500 Settlement Amount: $15,000 - $500 = $14,500 Transfer Ownership: You sign over the car title to the insurance company. Receive Payment: You receive a settlement check for $14,500. Example with Gap Insurance: If you have a remaining loan balance of $16,000 on the car, you would be in a negative equity situation because the settlement ($14,500) is less than what you owe ($16,000). This is where gap insurance comes in: Loan Balance: $16,000 Settlement Amount: $14,500 Gap Insurance Coverage: $16,000 - $14,500 = $1,500 With gap insurance, the additional $1,500 would be covered, ensuring you don’t owe money out-of-pocket on the remaining loan balance. Summary: Without Gap Insurance: You receive: $14,500 You owe: $16,000 Out-of-pocket: $1,500 With Gap Insurance: You receive: $14,500 Gap insurance pays: $1,500 Remaining loan balance: $0 Understanding how the total loss process works and the financial implications can help you navigate the situation more effectively and ensure you make informed decisions. #calgaryhail #calgary #haildamage #car #totalloss #realtorvishnu #calgaryre #calgaryrealestate

Heartwood is an exciting new community adjacent to Seton, set to offer 2,000 homes across 200 acres over the next five years. This area will feature a mix of single-detached homes and high-density projects, including potential townhomes and duplexes, designed to meet the growing demand for affordable housing. With its strategic location near Seton YMCA and the Seton Health Campus, Heartwood is the perfect opportunity for those who missed out on Seton and Rangeview. I currently have access to 53 lots in this promising community, offering a unique chance to be part of Calgary's rapidly evolving housing landscape. #realtorvishnu #calgary #newhomes #firsttimehomebuyers #brandnewhomes #setonymca #setonhealthcampus #rangeview #seton

What do you think about this? #realestate #realtor #canadiannews #calgaryrealestate #canadianpolitics #politics

🏡 Condo vs. Townhome: What's Right for You? 🏡 Choosing between a condo and a townhome depends on your lifestyle, preferences, and financial situation. Here are some key factors to consider: 1. Ownership and Maintenance: 🔹 Condos: Less maintenance since exterior upkeep is often handled by the condo association. 🔹 Townhomes: More responsibility, including exterior maintenance and possibly yard work. 2. Privacy: 🔹 Condos: Units above or below can limit privacy, but often offer security features and a sense of community. 🔹 Townhomes: Typically offer more privacy with no units above or below. 3. Amenities: 🔹 Condos: Often come with amenities like swimming pools, gyms, and communal spaces included in your association fees. 🔹 Townhomes: May have fewer shared amenities but offer more personal outdoor space. 4. Cost: 🔹 Condos: Generally less expensive than townhomes, but this can vary depending on location, size, and amenities. 🔹 Townhomes: Can be pricier, but you get more space and privacy. 5. Resale Value: 🔹 Townhomes: Historically appreciate faster than condos, though this can vary by market conditions. 6. HOA Fees: 🔹 Both condos and townhomes may have homeowners association (HOA) fees, but they can vary significantly. Factor these fees into your budget. 7. Location: 🔹 Consider neighborhood amenities such as schools, shopping, and transportation options. Ultimately, the decision between a condo and a townhome comes down to your individual preferences, lifestyle, and financial situation. It's essential to thoroughly research and consider all factors before making a decision. Ready to make a choice? Let's connect and find the perfect home for you! 🏠✨ #RealEstate #CondoLiving #TownhomeLiving #PropertyInvestment #HomeOwnership #RealEstateAdvice #CalgaryRealEstate #HousingMarket #InvestSmart #DreamHome #RealtorLife #BuyersGuide #HomeBuying

🏡 Are Unconditional Offers the Only Way? 🏡 Hey wannabe homeowner! This video is for you. Like it and share it with your friends and family. 👫 Wondering if an unconditional offer is the only way to win a property in today's market? Let me share some insights that have helped me win bidding wars consistently. Here’s the strategy: 🔹 Understand Seller's Timelines: Call the listing agent and understand the motive behind the sale. Tailoring your offer to meet the seller's needs can make a big difference. 🔹 Huge Deposit: A substantial deposit, which is refundable, shows your seriousness and commitment. 🔹 Quick Home Inspection: Schedule your home inspection ASAP and limit your finance condition to 5 days. This shows the seller you're ready to move quickly. 🔹 Know the Market: No home has a realistic price set unless it’s listed at high 700s. Understand the market, check recent sold data, number of similar homes, and the number of offers they received. Decide how much you want the house and make a competitive offer. Try these steps and stay tuned for more insights soon! 🌟 #RealEstate #HomeBuyingTips #PropertyOffers #WinningBids #CalgaryRealEstate #MarketInsights #HomeOwnership #RealEstateAdvice #DreamHome #SmartBuying #HomeBuyerTips Thinking about making a move? Let’s connect! 🤝

🏠 To Buy Now or Wait? Here's My Take 🏠 I always get this question: "Vishnu, should I wait and buy a better home in 2 to 3 years, or start with a condo now?" It's simple: get into the market when you feel comfortable. With rents increasing by 10-20% yearly and home prices skyrocketing, owning your place is becoming more advantageous! 📈 Consider this: ➡️ Condos saw an 11.8% YoY growth ➡️ Townhomes saw a staggering 22.5% YoY growth These gains can significantly boost your down payment for a bigger place in the future. 🏡 One key takeaway: Always be part of the growing trend rather than waiting and analyzing too much. Dive in when you're ready! #RealEstate #HomeBuying #Condos #Townhomes #PropertyInvestment #CalgaryRealEstate #MarketTrends #InvestSmart #DreamHome #RealEstateAdvice #HomeOwnership Thinking about making a move? Let's connect! 🤝

Is the Canadian Real Estate Market a Bubble? 🏡 Will the market crash? This question lingers in everyone’s mind! Let's dive in. My aunt purchased her home in Brampton for $550k in 2014, which soared to $1.6M in 2021. Yes, the market dipped in 2022, bringing the value down to around $1.3M to $1.4M. But guess what? It didn't plummet back to $550k, $600k, or even $700k. As far as Calgary goes, the boom used to be driven primarily by the Oil & Gas sector. Today, the landscape has shifted: - Interprovincial Migration: People are moving for better affordability. - Growth of New Sectors: Diversification beyond oil and gas. - Influx of New Residents: Attracted by Calgary’s affordability and opportunities. With these factors in play, a complete market crash seems unlikely anytime soon. 🏠📈 What do you think? Share your thoughts in the comments! #RealEstateCanada #HousingMarket #CalgaryRealEstate #MarketTrends #HomeInvestment #PropertyValues #EconomicGrowth #HousingBubble #MigrationTrends #Affordability #FutureOfRealEstate #InvestSmart 🚀 Stay informed and make smart investment decisions! 🚀

🚀 New Townhomes Releasing Soon in Livingston! Brace for Impact 🚀 Hey Everyone, Are you feeling the pinch of increasing prices in NW Calgary? 🌆 Wait no more! New lots are being released for townhomes in the vibrant Livingston community. 🏠 Key Highlights: 5% Deposit - Price includes GST - Garage included for all models - Pricing starts from the low 500s But that's not all! 🌟 Why Livingston? - Established Community: Close to schools, perfect for families. - Year-round Active Living: Enjoy a vibrant lifestyle with endless activities. What are you waiting for? 📞 Let’s connect before the lots are gone! #CalgaryRealEstate #LivingstonHomes #Townhomes #NewListings #RealEstateDeals #FamilyLiving #InvestInCalgary #HomeBuying #ActiveLiving #CommunityLife #CalgaryHomes #AffordableLiving 🌟 Act fast and secure your dream home today! 🌟

🚨 Attention Tenants! Could You Be Liable for Your Landlord's Tax?🚨 Stop scrolling and share this crucial information with your friends and family. 📢 Did you know that if your landlord fails to pay taxes, you could be held liable? Yes, it’s true, and it happened to a tenant in Montreal. Here’s what you need to know: A Montreal tenant was audited and ordered to pay six years' worth of taxes, plus interest and penalties, because his **foreign landlord** didn’t pay taxes. According to Canadian law, tenants are required to withhold and remit 25% of the rent to the CRA if their landlord is a non-resident. The CRA couldn't collect from the overseas landlord, so the Canadian tenant was on the hook. Despite the tenant's argument that he didn’t know his landlord was a non-resident, he lost the tax court appeal. The court ruled that tenants must ensure 25% of the rent is withheld and sent to the CRA if the landlord is a non-resident. This case highlights a little-known rule that can have significant financial consequences. Key Takeaways: 1. Know Your Landlord's Status: Confirm if your landlord is a Canadian resident. 2. Withhold and Remit: If your landlord is a non-resident, withhold 25% of your rent and remit it to the CRA. 3. Avoid Penalties: Stay informed to avoid unexpected tax liabilities. Honestly, 99% of tenants might not be aware of this rule. Make sure you share this to spread the word! #TaxAwareness #TenantRights #CRA #CanadianTaxes #LandlordTenant #TaxLiability #FinancialAwareness #RealEstate #TaxCompliance #Montreal #CanadaRevenueAgency #KnowYourRights #StayInformed #ProtectYourself 🛡️ Stay informed and protect yourself from unexpected tax liabilities! 🛡️

🏡 Live in Hotchkiss! Your Dream Home Awaits in SE Calgary! 🌟 Discover the brand-new community of **Hotchkiss** in SE Calgary, offering affordable laned and duplex homes starting from the mid-500s to low 600s! 🌆✨ Why Hotchkiss? 🔑 Affordable Homes: Prices starting from the mid-500s. 🔑 Convenient Location: Close to Stoney Trail, Mahogany, and Seton. 🔑 Flexible Payments: Only 5% down payment needed to book your unit. 🔑 Quick Possession: Move in within 10 to 12 months. Phase 3 is in full swing, and new lots are being released very soon. Don’t miss your chance to be part of this thriving community. 🌳🏠 What are you waiting for? **DM now** and secure your lot today! #HotchkissLiving #NewHomeCalgary #SECalgary #AffordableHomes #LanedHomes #DuplexHomes #RealEstate #CalgaryRealEstate #NewCommunity #HomeOwnership #DreamHome #MoveIn2024 #InvestInCalgary 🌟 Book your dream home in Hotchkiss now! 🌟