Durham Region Realtor

Early end to the energy audit rebate program

2012-01-31T20:15:00.003-05:00

After 250,000 energy conscious home owners received rebates of up to $5,000 each since 2007, the Canadian government has decided to pull the ‘ECO-plug’ by cancelling the eco-Energy Retrofit program early.

This is a disappointing announcement for homeowners who are considering going to a greener option with their home updates of items such as windows, heating, a/c, insulation, etc.

Many of my clients have taken part in the program and found it to be a big financial help. Let’s face it, these type of updates are not really for aesthetic purposes and don’t make your home look like it belongs in a magazine so, it is difficult to imagine spending the kind of money needed for new windows, roof, and so on.

Of course we can still make these earth positive changes by investing in energy saving products for the home on our own however, without the nudge of a rebate, many folks may opt to postpone this type of renovation to the home to a later date...or not do them at all.

If you are a home owner who has already had your initial energy audit and the renovation work is underway and will be completed on or before March, 31, 2012, you should still be able to submit post retrofit application up to June 30^th for your rebate funding.

If you are a home owner who was thinking of taking part in the eco-Energy Retrofit program in future, sadly, you have missed out.

More information on the Energy Audit Rebate Program

WHY do you still need a REALTOR?

2012-01-19T17:14:00.003-05:00

Are Realtors® as needed as they once were? With access to the Internet and the once excessively guarded information many buyers have asked…Do we still need a REALTOR®?

Similar questions were asked of us all when the Internet first started posting information about houses, cars, and well most everything else. There was the rumour a decade or more ago that shopping malls will CLOSE. After all, who will go to a mall when they can shop online???

Did you go to the mall this holiday season?

Yes, the internet is a fantastic resource. Whether you are 5 years old or 82 years old; checking out information for free is easily accessible on the net through your laptop, MacBook, Blackberry, Ipad, tablet, car dashboard, watch & even some refrigerators. The information is invaluable and it is fantastic to see so many educated and prepared sellers and buyers coming into the real estate market place.

So, do you still need a Realtor® when you have all of this internet information at your fingertips? ...absolutely! According to the National Association of Realtors (NAR), their 2010 profile of home buyers and sellers show 89 percent of homebuyers use the internet to search for homes and it does not diminish the use of professional realtors. Likely that number will prove to be even higher for 2011!

The NAR profile stated that home buyers who use the internet to search are MORE likely to buy through a real estate professional. The typical buyer spends two weeks searching for homes before they contact a sales person and on average look at twelve homes during the process.

While the internet is a wonderful tool that educates and communicates tons of information, this is only the beginning of the real estate process. It is even more enhanced with access to things like Google Earth so that one can check out the "hood". However, it is the Realtor® who steps in and pulls all the details together. Buying a home is more than looking at a pretty picture or a "you tube video" with instrumental music playing in the background that makes one think "Gee, I would love to live there".

REALTORS® are trained professionals who guide you through a very complex process step-by-step. We assist in the search process, the legal forms, the pricing, multiple offers, the negotiation, the staging and photography for sellers , the screening of buyers, mortgage information and so much more. REALTORS® are there to help with the multitude of pertinent questions and answers with the resources to get you what you want, where you want and for what you can afford. That hasn't changed in decades despite the internet being a vital tool we all use in every aspect of our lives these days.

For most people, this is the single largest investment of their lives. Finding someone you trust, someone with experience and someone who will get you the results is an important factor in protecting your investment!

For the buyer there is rarely an agent fee. For the seller, it's been proven time and time again to net you more money in your pocket and the fee is not paid until your home is successfully sold!

With world real estate markets still suffering, Canada and Toronto GTA in particular, are still active and extremely strong markets! Ask me how to help you...and we can blog, text, ping, tweet, email, SMS, google, BBM...until we get you exactly where you want to go!

MLS Real Estate Housing Statistics - December 2011

2012-01-08T13:49:00.047-05:00

MLS Real Estate Statistics for Durham Region

(including Whitby, Brooklin and Oshawa)
Housing market numbers for Durham Region held steady with the same level of increase in Sales compared with 2010's Region of Durham numbers. December did wind down when compared to last month as most buyers and sellers put moving on hold for the holidays. The number of active listings for December, as expected, dropped by over 300 listings from the month November. This will all change as we hit the new year and folks get ready to move once again. January is expected to be a fantastic kick-off to 2012.

Are you a home owner thinking of Selling your Durham Region area property? Are you wondering about the current market or when the best time would be to put the "For Sale" sign up?

Maybe you are planning on Buying and investing in your own home and are curious...read more

Annual Gingerbread House Build

2011-12-20T20:00:00.000-05:00

Children of both clients and family were invited to join in to build and decorate a Gingerbread House while having some good, old fashioned Holiday fun with the family.

Building and decorating a gingerbread house is a holiday tradition that can create magical memories for kids of all ages. The smell of gingerbread alone is enough to rekindle the child within us. Seeing how gumdrops, icing and candy canes transform into your very own edible masterpiece will surely entice the whole family.

Click on the link below to see a youtube video of the completed gingerbread creations. You will see that each one is a unique and tasty work of art. Way to go kids!

http://www.lj4homes.com/Ginger-bread-homes-houses-builders-challenge-contest.html

MLS Real Estate Housing Statistics - November 2011

2011-12-19T18:03:00.000-05:00

MLS Real Estate Statistics for Durham Region (including Whitby, Brooklin and Oshawa)

The latest housing market numbers for Durham Region show a positive increase in Sales, asking prices, and new listings compared with 2010 Region of Durham numbers. Looking at this month versus last month, it is clear that the market is winding down as most buyers and sellers put moving on hold for the holidays. The number of active listings for November, as expected, has dropped by over 250 listings from October.

Are you a home owner thinking of Selling your Durham Region area property? Are you wondering about the current market or when the best time would be to put the "For Sale" sign up? Maybe you are planning on Buying and investing in your own home and are curious to know about the current market in Whitby, Brooklin, Oshawa or other areas in the Region of Durham, Ontario?

Whether you are looking to Sell, Buy or simply interested in keeping up to date on the Durham Region housing market, the following data may be beneficial to you...Read more

Winter Home Maintenance

2011-12-05T14:11:00.013-05:00

This winter, create a cozy home environment in just one weekend. Start by filling in any cracks around the windows with chalking and add a new piece of weather stripping around your front door. Reduce drafts and heating bills by adding sheets of insulating plastic on windows and the attic door.

To help ensure that you have heat during the deepest winter freeze, keep your furnace operating at peak efficiency by replacing or cleaning the air filters, according to the manufacturer’s directions. Typically, this should be done each month during the winter. If you have baseboard heaters, vacuum them to remove dust. Chimneys should be cleaned periodically to remove creosote from the interior walls. Creosote is a residue left from burning wood and is a potential fire hazard. The safest way to clean your chimney is to hire a professional chimney sweep company.

Winter is also a good time to take steps to extend the life of your water heater. Sediment can accumulate in the bottom of the tank eventually clogging the valves. When this happens, pressure can build resulting in leaks. Check your owners’ manual for instructions on how to drain the sediment making sure to avoid scalding yourself with hot water.

Outdoors, check your eaves troughs and remove leaves and other debris that can block proper drainage from your roof. Ensure that your chimney flue and the exhaust grate are well ventilated. Also, look for signs of damage to the siding; crevices are open invitations to mice and other animals seeking warm shelter for the winter so fill these openings with chalking until you can do a more thorough repair job in the spring.

With your home maintenance complete, enjoy another lovely Canadian winter!

Seeing Spots?....on your Maple Trees that is

2011-11-03T13:51:00.076-04:00

If you've been noticing quarter sized black spots on the neighbourhood maple trees recently, you are not alone.

The unsightly spots found on our National trees are commonly known as Tar Spot and is cause in part by our record breaking rainfall this past Spring. Despite the fact that the leaves have...as my young niece describes as "polka dots" on them, it does not cause permanent damage to established maple trees.

Tar Spot does however, survive the winter on leaves that have fallen and not been removed. Therefore, we can do our part to diminish this fungal disease from spotting up our trees next year, by raking up and removing the fallen leaves before the snow flies. For more information, take a look at the attached Toronto Parks & Recreation info sheet on Forest Health Care and the 'What to do about Tar Spot' article in Canadian Gardening.

MLS Real Estate Housing Statistics - Fall 2011

2011-10-22T14:39:00.002-04:00

Are you a home owner thinking of Selling your Durham Region area property? Are you wondering about the current market or when the best time would be to put the "For Sale" sign up? Maybe your are planning on Buying and investing in your own home and are curious to know about the current market in Whitby, Brooklin, Oshawa or other areas in the Region of Durham, Ontario? Whether you are looking to Sell, Buy or simply interested in keeping up to date on the Durham Region housing market, the following data may be beneficial to you.

So far, the Autumn season Durham Region Real Estate market on the whole has been strong. With over 223 more active listings out there this month compared to last month, buyers finally have more homes to choose from, equalling the housing market playing field somewhat. A good indicator of which way the housing market is leaning is to compare home sales to newly listed homes, called the "sales to new listings" ratio. September sales to new listing ratio is at 55%, indicating a...READ MORE

MLS Real Estate Housing Statistics - July 2011

2011-08-17T15:29:00.002-04:00

Are you a home owner thinking of Selling your Durham Region property and wondering about the current market and when you should put that "For Sale" sign up?

Perhaps you are planning on Buying and investing in your own home and would like to be aware of the current market in Whitby, Brooklin, Oshawa or other areas in the Region of Durham, Ontario? Whether you are thinking of Selling, Buying or simply interested in keeping up to date on the Durham Region housing market, the following data may be beneficial to you.

When looking at the overall Durham Regional Real Estate market, we see that in July there were over two thousand fewer homes on the market to choose from over last year during the same month. A good indicator of which way the housing market is leaning is to...READ MORE

MLS Real Estate Housing Statistics - June 2011

2011-07-17T13:51:00.001-04:00

Are you a home owner planning on Selling your Durham Region home and wondering about the current Real Estate market? Perhaps you are considering Buying to invest in your own home and would like to be more aware of the current Real Estate market in Whitby, Brooklin, Oshawa or other areas in the Region of Durham, Ontario? Whether you are a Seller, Buyer or simply interested in keeping up to date on the Durham Region Real Estate market, the following data may be beneficial to you. The The Real Estate market for the mid-point of 2011 shows a slow but steady climb for Durham Region according to the Toronto Real Estate Board MLS statistics.

Resale housing inventory is noticeably lower than last year at this time with over 1000 less homes on the market for Durham Region. That said, homes in Durham Region are in demand and the steady increase in asking prices is evidence of that fact. The average listing price is up by over...READ MORE

MLS Real Estate Housing Statistics - May 2011

2011-06-11T16:54:00.042-04:00

MLS Real Estate Statistics for Durham Region including Whitby, Brooklin and Oshawa
Are you a home owner thinking of Selling your Durham Region property and wondering about the current market and when you should put that "For Sale" sign up? Perhaps you are planning on Buying and investing in your own home and would like to be aware of the current market in Whitby, Brooklin, Oshawa or other areas in the Region of Durham, Ontario? Whether you are a Seller, Buyer or simply wishing to stay in the Real Estate Market loop, you may find the following data beneficial.

In May 2011 we had a total of 3964 active listings on the marketing in Durham Region compared with the 5330 homes in May 2010. With a "homes available for sale" inventory drop like that, it explains why, if you are a potential seller, you may have been advised to move forward on working with your Realtor to place your home on the market as soon as possible...as the buyers are out there!

First glances would make one think that sales are down however, this is not the case. Dispite the lack of inventory, the homes that sold this May overall was actually higher than last year with 2182 homes sold this year compared with 2151 last year. In addition, the average asking price for a home has increased by over $15,000 in the past year. Not surprising when you consider the decrease in supply and the increase in demand. Buyers are anxious to invest in a home when the right fit is made.Below is a compilation of the various Toronto MLS System statistics comparing May 2011 with May 2010.H The Durham Region area had 2182 Sales in May 2011 compared with 2151 Sales in May 2010
H The average asking price for a home in the Region of Durham in May 2011 was $365,942 in comparision to $349,402 in May 2010
H The number of days it took to sell a home in Durham Region in May 2011 was, on average, 22 days which did not fluctuate from the same month last year.

For selling information, buying information or more MLS property listing statistics, please visit www.LJ4Homes.com. In addition, if you should have any Real Estate questions, whether big or small, please feel free to contact me. I appreciate the opportunity to help.
Want to review the current Real Estate documentation you will likely be asked to sign when purchasing a home or placing your home up for sale? Check out my "understanding Real Estate forms" guide.

Client ID - Why are you being asked for it?

2011-05-03T16:26:00.017-04:00

Whether buying or selling a home, your Real Estate representative will ask you to provide legal (government issued) identification such as your drivers license, birth certificate or similar documentation. In addition, you may be asked if you are acting on behalf of a third party. This measure of requesting client identification is a fairly new requirement.

FINTRAC (The Financial Transactions and Report Analysis Centre of Canada) was developed by the Canadian government as an initiative to fight money laundering and terrorist financing both in Canada and abroad.

The Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) legally requires all businesses such as Real Estate Brokerages, Insurance companies, Banks, etc. to provide client identification information; regardless of how well you know the client you are providing service to. Yes, even family members must provide this information. This ensures that the financial institutions, etc. can adhere to their legal obligations and sustain the battle against money laundering and terrorist financing.

Money laundering is when criminals disguise the source of money or assets acquired by illegal activities such as drug trafficking, fraud, extortion, smuggling, etc. The techniques used are countless and can be quite highly developed. In fact, the yearly estimate of this criminal activity, as determined by the International Monetary Fund (IMF), adds up to five hundred billion U.S. dollars being laundered globally every year.

Terrorist financing is somewhat different than Money laundering as it allows a means for terrorist activities which represents a major threat to worldwide security including Canada and Canadians. Many terrorist groups obtain a flow of funds through legal avenues as well as through criminal activities. Charity organizations have been known to unintentionally be donating funds that are ultimately channelled to terrorist organizations.

Money laundering and terrorist financing is a substantial concern; we must do our part to eliminate it.

If you should have any Real Estate needs or questions, whether big or small, please feel free to contact me. I appreciate the opportunity and am always glad to help.

MLS Real Estate Statistics - March 2010

2011-04-23T11:55:00.018-04:00

MLS Statistics for Durham Region including Whitby, Brooklin and Oshawa

If you are a potential seller who keeps hearing "don't wait, list your home now!", let me explain why.

If you are a prospective buyer interested in investing in your own home and curious about the current market in Whitby, Brooklin, Oshawa or other areas in the Region of Durham, Ontario, then read on.

Statistics show the average asking prices in Durham Region are up by an average of $5,000 and the amount of newly listed homes placed on the market has dropped by over 700 in the Durham Region area compared to the same month last year.

Mix the lack of inventory with an escalating number of buyers (especiallly first time buyers) eager to purchase a home in time to enjoy the summer in their new backyard and you have quite a concotion. Compition for homes priced correctly and presented well is fierce; resulting in a surge of multifple offers and a deluge of frusterated buyers.

Before long however, the tide will change and folks looking to buy will once again have plenty of houses for sale to choose from allowing them to be more selective.

Therefore, if you are thinking of buying a home, you can be assured that the selection of homes for sale will improve and your dream home will be out there on the property market soon.

And, if you are considering selling this year but your strategy thus far has been to wait it out...do yourself a favour and act now by getting that "for sale" sign up before everyone one else does and you are lost in the sea of homes for sale!

Here is a compilation of the various Toronto MLS System statistics comparing March 2011 with March 2010.

The Durham Regional area had 2013 Sales in March 2011 compared with 2293 Sales in March 2010.
The average asking price for a home in the Region of Durham in March 2011 was $352,226 compared to $346,989 in 2010.
The number of days it took to sell a home in Durham Region in March 2011 was, on average, 23 days compared with 19 days in March 2010.

For MLS property statistics on Whitby, Brooklin and Oshawa, please visit my website at www.LJ4Homes.com where you will find more buyer and seller information. In addition, if you should have any Real Estate needs or questions, whether big or small, please feel free to contact me. I appreciate the opportunity and am always glad to help.

Title Insurance

2011-03-28T20:03:00.007-04:00

Title insurance is an insurance policy that offers compensation for property owners and their lenders from losses relating to the title on the property.

The policy covers areas such as liens, encroachments, title fraud, survey errors, and other issues relating to title that may prevent you from having unencumbered ownership of the property and can have an effect on your future ability to sell your home.

Although not mandatory in Ontario, Title insurance is a one-time fee usually presented as an option to purchase when you buy a home. Your lawyer’s office normally takes care of this for you, with your approval. The policy protects you for as long as you own your property and can also cover your legal expenses relating to restoring title as well.

Existing home owners can also purchase Title insurance. Those interested in Title Insurance are recommended to speak with their Lawyer (or Insurance Company) to get all of the facts so that they are fully aware of the protection Title insurance can provide, what losses are covered as well as excluded in the policy, and to determine whether they need this coverage or not.

For further information on Title Insurance visit the Financial Services Commission of Ontario (Ontario’s insurance regulatory agency) at www.fsco.gov.on.ca

Feel free to contact LJ for all of your Real Estate questions or needs at

http://www.lj4homes.com

Title Fraud – What is it?

2011-03-18T17:56:00.001-04:00

Title fraud or real estate title fraud is when your home ownership title to property is transferred illegally to a fraudster through forged or documents and or stolen identity without the registered owners knowledge. Most commonly the fraudster obtains a mortgage on the subject property then takes the mortgage funds leaving the homeowner confused when start receiving late payment notices or worse, leaving the homeowner in a legal nightmare when they go to sell.

Although it is impossible to completely avoid fraud in any system, the cases of title fraud are limited. Especially when you consider that in Ontario alone there are more than two million real estate transactions taking place each year. In fact, Ontario is the world leader in land registration and the first jurisdiction in the world to provide electronic land registration with a constantly improving system that has introduced automation, electronic registration and enhanced security to land registration. Ontario’s land registration system has a proven track record for security, accuracy and efficiency built on 200 years of legal and regulatory best practices, using the best technology currently available.

Protect yourself from identity theft:

Store Personal information (birth certificates, Social Insurance card, credit card details, bank account information) in a secure place
Leave your birth certificate or SIN card safely at home and not in your wallet
Shed important documents (bank or credit card statements) before recycling them
Delete emails or spam when asked for personal information (passwords, bank or credit card details, etc.)
If renting out a property, take care to check references of prospective renters
If you have more than one property (rental or otherwise), be sure to check it regularly

Warning signs of identity theft:

Discrepancies on your bank or credit card statements
Bills not arriving as expected
Tax statements or bills mailed to your home that are addressed to a different individual
Contact from an individual regarding a new mortgage that has already been arranged for your property
Contact from creditors regarding purchases you did not make

Information provided by: the government of Ontario under Land Registration Information http://www.ontario.ca, Real Estate Council of Ontario http://www.reco.on.ca and the Ontario Ministry of Consumer Services http://www.sse.gov.on.ca

Feel free to contact LJ for all of your Real Estate questions or needs at http://www.lj4homes.com

Highway 407 East Extension – Our voices were heard!

2011-03-11T13:16:00.003-05:00

Overwhelming community demand results in Highway 407 extension going further East in phase one of construction to Harmony Road in Oshawa instead of Simcoe Street. Great news for this Durham Region Realtor and for you!

In response to overwhelming community demand (including pressure from Toronto Real Estate Board members), the first phase extension of Highway 407 East will now go to Harmony Road in Oshawa by 2015 then, continue plans to expand Highway 407 East all the way to Highway 35/115 by 2020.

Originally, the Provincial plans to extend Highway 407 East were expected to be implemented in one continuous phase all the way to Highway 35/115. Then, the provincial government had indicated that the extension would then be phased with the first phase ending at Simcoe Street in Oshawa. After an overwhelming amount of municipal opposition and a petition with over 5,000 names was delivered to Queen’s park on February 24, 2011, the Provincial government did some re-thinking.

The Toronto Real Estate Board views transportation projects such as this as being critical to the current and future growth of the Greater Toronto Area including Durham Regional areas such as Whitby, Brooklin, Oshawa, Clarington and beyond. Investing in this sort of infrastructure is important for the continued vibrancy of the area, including the Real Estate market. This will not only ease traffic flow, it will create approximately 13,000 jobs in just the first phase of the Highway 407 expansion project. This will be huge positive impact on the quality of life for many living in the Durham Region and beyond.

More detail on the Hwy 407 construction is available at the city of Oshawa’s campaign web page. Here’s the link http://www.oshawa.ca/cit_hall/407campaign.asp

Feel free to contact LJ for all of your Real Estate questions or needs at http://www.lj4homes.com/

MLS Statistics for the Durham Regional area - February 2011

2011-03-09T07:18:00.022-05:00

WANTED…more homes for sale in Durham Region!!

According to the Toronto Real Estate Board statistics for Durham Region there were 341 less new homes fresh on the market this month (February 2011) than in the same month last year (February 2010).

Durham Region has buyers but, where are the sellers? Sure it’s still chilly outside and although March is here the promise of spring still seems to be in the distance. Guess what?...This could be one of the BEST times to put your home on the market. What better than a market full of buyers eager to buy a home with their mortgage pre-approval in hand!

So if you’re thinking of waiting until the Spring blooms burst through the garden ground before you call your Durham Region Realtor, you may miss out.

I have put together a mixture of Toronto MLS system statistics comparing February 2011 with February 2010 and this time I have included February 2009 numbers as well.

Durham Region:

The Durham Regional area had 1342 Sales in February 2011 compared to 1623 Sales in February 2010 and 1030 in 2009.
The average price for a home in the Region of Durham in February 2011 was $349,940 compared to $326,461 in 2010 or $291,508 in 2009.
The number of days it took to sell a home in Durham Region in February 2011 was 27 days compared to 24 in February 2010 or 44 days in February 2009.

Whitby:

The number of days it took to sell a Whitby home in February 2011 was 23 days compared to 17 in February 2010 or 37 days in February 2009.

Oshawa:

Oshawa had 170 Sales in February 2011 compared to 215 Sales in February 2010 and 132 in 2009.

Brooklin:

The average price for a home in Brooklin in February 2011 was $350,947 compared to $382,956 in 2010 or $303,580 in 2009.

For more detailed statistics go to http://www.lj4homes.com/brooklin-whitby-oshawa-housing-market-homes-for-sale.html

To contact LJ visit www.LJ4Homes.com

MLS Statistics for the Durham Regional area - January 2011

2011-03-07T08:03:00.005-05:00

The resale market kicks off 2011 with a slow albeit steady foundation. The number of properties sold through the TorontoMLS system in Durham Region in January 2011 was slightly less than January 2010. Growth is expected in the coming months as the weather warms up.

I have put together various TorontoMLS system statistics for all of Durham Region and also for Whitby, Brooklin and Oshawa comparing January 2011 with January 2010.

Durham Region:

· The Durham Regional area had 1000 Sales in January 2011 compared to 1123 Sales in January 2010

· The average price for a home in the Region of Durham in January 2011 was $332,396 compared to $313,741 in 2010.

· The number of days it took to sell a home in Durham Region in January 2011 was 36 days compared to 29 in January 2010.

Whitby:

· The average price for a home in Whitby in January 2011 was $321,435 compared to $293,111 in 2010.

Oshawa:

· Oshawa had 149 Sales in January 2011 compared to 132 Sales in January 2010

Brooklin:

· The number of days it took to sell a Brooklin home in January 2011 was 28 days compared to 26 in January 2010.

For further statistics, go to http://www.lj4homes.com/whitby-brooklin-oshawa-homes-houses-for-sale-realtor.html

For more information or to contact LJ visit http://www.lj4homes.com/

After the SOLD sign goes up

2011-02-26T12:02:00.007-05:00

Book your movers well in advance to get the moving date and times best suited to your needs.

Check insurance coverage for moved items (if you deem necessary). Confirm what the movers cover first.

Long distance moves are usually billed according to weight. Note the weight of goods you are moving. Some heavy items like used appliances may be less expensive to replace than move.

Have a "first to open" box with the items you'll need most:

paper towel
toilet paper
soap
trash bags
scissors
hammer
screwdriver
pens
paper
cups & plates
water and snacks

Arrange with the Post Office to forward your mail to your new address

Arrange to have utilities disconnected a day or so after the scheduled closing date (speak to your Lawyer about his/her help with this as some take care of this for you)

Send change of address notifications to banks, schools, credit card companies, employer, accountant, dentist, doctor, magazine subscriptions, etc.

Cancel the newspaper, lawn service, snow removal company, security service, etc.

Notify friends, relatives, and business colleagues of the move

Clean out appliances and prepare them for moving (if applicable).

Items to leave for the new owners

Owner's manual or Warranties for appliances or other items left in the house.
Extra sets of house keys.
Garage door openers.
Remote controls for ceiling fans, lights, curtains, etc.
Code to burglar alarm (or reset to all zeros).
A list of service providers:

house cleaner
lawn service
snow removal company
pool service
electrician
plumber
handyman
etc.

Buying Basics

2011-02-15T14:00:00.005-05:00

Buying Basics

Buying a home is probably the most important investment that you will make in your lifetime, for this reason, special care and consideration must be taken every step of the way.

Finding just the right home can be quite an exciting adventure, especially when you know the basics ahead of time.

Get a mortgage pre-approval

Before purchasing a home we have to make sure a Bank will loan you the money.

Through this process, a lender will review your finances in great detail and will pre-approve you for a certain amount.
A Pre-approval can give you a leg up during the offer process, especially when multiple buyers are competing for the house. When you've been pre-approved by a mortgage lender, it's the next best thing to having the money in hand.

I can connect you with mortgage specialists to make sure you are taken care of.

We go shopping

Shopping will help us to narrow down your wish list as best as we can.
Let me know the “criteria” of your dream home and I will send you back several listings, then off we go to view the properties you desire.

We found it…your perfect home!

We put in an offer, along with a deposit cheque (5-10k) to hold the property.

The offer has the date in which we want to close (move-in) and any conditions (i.e. conditional on Financing approval and satisfactory Inspection)

Once the offer is accepted, your new home is “Sold Conditionally”
We book a Home Inspection and contact your Lender to move forward on your mortgage.
Once all Conditions are met, we give the accepted offer to your Lawyer for the “final touches”

(*Remember to put aside approximately 1.5% of the purchase price of the home for closing costs: legal fees, land transfer costs, home insurance, adjustments, moving expenses, etc.)

Clarifying HST confusion

2011-01-23T19:03:00.004-05:00

As the old saying goes, “time flies”, and it sure does feel that way about Ontario’s new Harmonized Sales Tax (HST), which has already been in effect for almost 7 months. Even though consumers have been dealing with the HST since July 1st, it appears there is still confusion about its applicability to housing.

Allow me to clarify. When it comes to housing, there is good news and bad news about the HST. The good news is that if you are buying a re-sale home, you will not (I repeat, NOT) pay HST on the purchase price of the home. On the other hand, if you are buying a newly constructed home, HST will apply.

The purchase price of re-sale housing was never subject to the old Provincial Sales Tax, or the federal Goods and Service Tax. When the provincial government began considering implementing a Harmonized Sales Tax, REALTORS fought hard to ensure that the old exemptions for re-sale housing were maintained, which is exactly what happened. As a result, if you are buying a re-sale home, you don’t have to worry about paying HST on the price of the home. That’s money that you can keep in your pocket, or use to keep mortgage costs down.

Unfortunately, the same is not true for home buyers of newly constructed homes, which are subject to additional tax under the HST. Newly constructed housing has always been subject to the GST, meaning thousands of dollars of tax for home buyers choosing this option. Now, with the HST, new housing is also subject to PST, meaning thousands of dollars in added costs for home buyers of new housing.

There is a silver lining for new housing: the provincial government provides a rebate of 75 per cent of the PST on the first $400,000 of a newly constructed home, or a maximum of $24,000. For example, someone purchasing a new home priced at $500,000 would face $40,000 in additional tax from the provincial portion of the HST, which would be reduced to $16,000 with the rebate. Obviously, the rebate softens the blow, but an extra $16,000 of tax (in this example) for a newly constructed home is nothing to laugh at.

Taxes are not a topic that most people like to spend a lot of time thinking about, so I’m not surprised that there is still a lot of confusion out there about how the HST applies to housing. With that in mind, I hope this has helped to make the HST a little easier to understand, and, for home-buyers of re-sale housing at least, a little easier to swallow.

Source: Bill Johnston - President of the Toronto Real Estate Board

Excerpt From: The Home News

Published: November 2010

Updated: January 2011

HST - Move is on to repeal an unfair tax

2011-01-22T14:36:00.003-05:00

For years, GTA REALTORS® have been telling the City that the fair way for it to address its financial challenges is to get its finances in order, instead of burdening homeowners and homebuyers with additional taxes, like the Land Transfer Tax.

REALTORS® fought strongly against the idea of a Toronto Land Transfer Tax when it was first proposed in 2007. We heard the public's concerns and we stood up for home buyers, who we believe were being unfairly targeted by this tax. TREB's efforts were strongly supported by the public who also spoke out strongly against the Land Transfer Tax. The public spoke loudly then, but they spoke even louder last October when they gave Mayor Ford an overwhelming and clear mandate to repeal this unfair tax.

The City's proposed 2011 Budget is an important step to delivering on the Mayor's Land Transfer Tax mandate. In particular, it begins the process of addressing the City's financial challenges with fair options, including cost-containment measures. Furthermore, it sets the stage for a forthcoming detailed program and service review, which Mayor Ford has announced will begin in March. This is an important process, and one that REALTORS® have been calling for.

For years, Toronto's taxpayers have been bearing the burden of unsustainable City budgets. We believe that the proposed 2011 Budget stops the bleeding, and that by moving forward with Mayor Ford's commitments, including repealing the Land Transfer Tax, next year's budget will allow the City to flourish.

Source: Bill Johnston - President of the Toronto Real Estate Board, a professional association that represents 30,000 REALTORS® in the Greater Toronto Area.

Excerpt From: Toronto Sun

Published: January 21, 2011

New Mortgage Regulations

2011-01-18T15:40:00.002-05:00

Finance Minister Jim Flaherty has announced new mortgage regulations aimed at reducing Canadians' soaring household debt.

Flaherty has unveiled three new rules:

(1) Mortgage amortization periods will be reduced to 30 years from 35 years.

(2) The maximum amount Canadians can borrow to refinance their mortgages will be lowered to 85 per cent from 90 per cent.

(3) The government will withdraw its insurance backing on lines of credit secured on homes, such as home equity lines of credit.

The new rules come on the heels of a Bank of Canada announcement that Canadians' domestic debt burdens have hit record levels.

The change in amortization and refinance borrowing limits will go into effect on March 18, 2011 and the change in insurance on home equity lines of credit will go into effect on April 18, 2011.

Price Price Price! Assessing Correct Value

2011-01-17T22:40:00.003-05:00

Of course what most of us promote is location, location, location. It is important to understand how price and location fit together. When it comes to selling, the importance of pricing a home is superior to everything else. A simple illustration is to picture a home for sale in the best location you can imagine. Then put a price on it that is too high by market comparison. The result will be that the home may be admired by many but no offers will come since the price is attracting the wrong crowd. To further illustrate, take a less popular location and market-price it, the buyers will be lined up with offers. Location factors in to correct pricing the way other important features do when assessing the likely sale price of a home. Correct pricing then, when it comes to selling, plays the leading role followed by strategic marketing and negotiating in order to obtain optimum value.

Location is paramount on the other hand when assessing where the highest rate of appreciation might be expected over a period of time. Locations that are superior for neighbourhood, proximity to schools and shopping, receive a steady demand on the part of buyers and usually produce a higher increase in value and of course a quicker sale when that time comes.

When buying, there is a trade-off for location. A home for sale on a main street for example will usually have more features for the price, than the same home on the nearby crescent. So a main street may be just what a consumer prefers knowing that they are getting more of the features they want for their money. On the other hand, a buyer may prefer to take the "crescent" home with less features for the money preferring the added safety that comes with that location, especially where small children may be a concern.

It is by and large a matter of choice and most folks whether buying or selling want to come away from the process feeling they were well informed and pay or receive a fair price.

Home Buyer Advice to Getting the Best Service

2011-01-15T08:53:00.003-05:00

If you are planning to purchase a home, you will be faced with many decisions. What comes first buying the next home or selling your present home? What is your price range? What will be the location, size and style of your next home?

Before getting the answers to these questions there is one major decision to be made: which Realtor shall you choose to help you get through the maze of forms and give you the direction needed to successfully complete your real estate transactions?

Buying a home is too important to leave up to a committee. Some buyers like to leave their name with three or four salespeople. Although it may seem to be to the buyer's advantage to have a number of people to work with, it is usually a very ineffective approach. The basic assumption is that a committee of agents can produce more results than working exclusively with one realtor. Like most committee assignments--everybody's responsibility is nobody's responsibility.

ONE REALTOR = COMMITMENT
You need the total commitment of one Realtor whom you feel comfortable with and who will get to know and understand you and have compassion and empathy for your particular situation. Buying and selling a home is a journey that must be carefully plotted and mapped from the start to completion. Tell this Realtor that you will work with them exclusively as long as you see the effort and work needed to get the job completed. In fact if you are a Buyer you should sign a Buyers Agency form with this agent to show your commitment, as well the agent should put in an escape clause for you the buyer if they do not perform or work actively for you. In this way you will have a dedicated Realtor who will make it his personal responsibility to handle all the details to get you to a successful completion of this real estate journey.

A REALTOR NEEDS CANDID FEEDBACK
A good agent will listen to your needs and search through properties that are available both their own office and the Multiple Listing Service, then sort out the inappropriate ones. They will likely show you a number of homes and get your feedback and then continue the process until you have found the right home.

Be very candid with your feedback, point out your likes and dislikes of the properties. Your Realtor should have a copy of each of the listings you will be viewing with a space on each of the pages for your written notes. You will not remember the likes and dislikes you have of each home after you have finished your entire showing tour. Make your notes immediately after viewing each home. Also remember it is in your best interest to view only a maximum of 4 to 5 homes on any one showing tour. It is easy to become confused when viewing too many homes at one time.

A Realtor is paid on a straight commission basis. They do not receive a salary or have an expense account. They are paid only after they have sold something and it successfully closes. This is why working with more than one Realtor is not a good idea. None of the Realtors will know if it will be to their financial benefit to spend any of their time or effort trying to find you a property, when you could possibly buy through another Realtor.

Believe it or not, you will be best served by dealing with one committed Realtor as opposed to shopping the field with a variety of Realtors and Brokerages. By giving your commitment to one Realtor, the Realtor will work with the enthusiasm and diligent efforts required to successfully complete your transaction.