Diesel Trains Through the Junction

Dr. David McKeown took the unusual step of speaking at a protest organized by the Clean Train Coalition, repeating concerns about the health impacts of Metrolinx’s proposal for the Georgetown south corridor.

“The trouble is the current proposal (is) built on a foundation of diesel – a mode of transportation we know is bad for air quality and not good for our health,” McKeown told an energetic crowd of more than 500 gathered at Sorauren Park in Roncesvalles Village.

Here is the complete article from the Star.

Diesel Trains Through the Junction

http://www.thestar.com/article/701673

So I asked Mark, (Father and Son, in captioned picture above) who took part in the march to Sorauren Park, his views. He lives in the Junction.

“If this all goes ahead, it’ll spell tragedy for this whole city, not just those of us who live near the tracks. Those who stand to gain financially and are all for it are quoting ’safe’ levels that are obsolete in most first-world countries.

It’s just another case of buy now, pay later. McGuinty and the pinstriped fatcats will be up north in their cottage retreats counting their profits while the rest of us stuck in the city will pay with more brutal smog alert days per year. My son Magnus already suffers from asthma, and if this goes through, we’ll have to seriously consider moving away from the Junction. Multiply this by the number of other concerned parents in the area and you end up with a loss of population (read: business), decimating what is currently a thriving community.”

David Pylyp; We all want a greener environment. We all want a cleaner city. Yet when given the opportunity to lessen diesel smoke emissions through a residential community, the Ontario Government, Metrolinx, and the City have turned their backs.

What are your thoughts?

10 Top reasons to sell your home this year!

10. There are rooms you haven’t been in for more than a year

9. Home prices are stable now but may decline as interest rates rise

8. You don’t remember what’s in the boxes in the basement

7. Affordability is at a 20 year best so there are a lot of potential buyers

6. You are paying to heat/cool at least twice the space you actually need

5. Guaranteed income growth of 7% each year before retirement

4. Your new neighbours won’t ask you to babysit every Saturday night

3. Buy your “new” downsized home before July 2010 and save up to 13% tax

2. Your capital will generate guaranteed 5% income for life with upside potential

And the #1 Reason to Downsize this year:

Your “30 something” kids won’t be able to move back in with you

Coffee, Dessert & Downsizing Event

When is the best time to downsize?
How much can I afford to spend on my next home?
What is the net effect on my future income and expenses?
What are the big risks in retirement?
How can I have a Personal Pension Plan for life?

Join US for a one hour presentation by:

Warren J. Huntley Financial Advisor

Retirement Income Specialist – Braley Winton Financial Group

Tuesday June 23rd 7:00pm

{Presentation begins at 7:30p.m.}

Homewood Suites by Hilton

2095 Winston Park Drive, Oakville {Winston Churchill north of the QEW}

RSVP Phone: (905) 815-1035
Email: seminars@braleyfinancial.ca

Hope you can make it!

Home Staging is older profession than…. Shakespeare

Frugal Home Staging – Toronto
Even if you’re not a fan of Shakespeare’s works, his words of wisdom have made their way into our common, everyday vernacular. Why? Because the Bard’s words prove true time and time again.

What does home staging have to do with Shakespeare? Well, the term “staging”, which refers to preparing a property for sale to maximize its appeal to buyers, was coined due to its parallelism with setting the stage of a theatre.

As Shakespeare wrote in ‘As You Like It’, “All the world’s a stage.” The same holds true for the house you’re trying to sell. And, just like the theatre stage, we are merely the players and we have our exits (sellers) and entrances (potential buyers). It’s a professional stager’s job to make sure the stage is set to encourage dialogue between the players.

Makes sense, but what else can the Bard teach us?

“Parting is such sweet sorrow” – Romeo and Juliet

Juliet’s famous line obviously was referring to her Romeo. However, our home is also something we love. It is very normal for homeowners to have a strong connection to the house they’ve turned into a home by personalizing the furniture, décor, and design. Detaching ourselves from our home can be a difficult process. Yet, it is also sweet because, often times, selling our home means we’re about to embark on another, new and exciting chapter of our lives. As well, for most people, a home is their largest asset and maximizing the return of that asset is very sweet.

Moral of the story: Detach yourself from your home and think of how you can create emotional connections for potential buyers.

“Delays have dangerous ends” – King Henry VI, Part II

When is the best time to stage a property? Regardless of which stager you’re talking to, you will hear the same thing come out of his/her mouth: BEFORE the property goes on MLS!

Occasionally, I hear a homeowner say, “We don’t have time right now to worry about staging, so we’ll list it first and see how it goes.” At first glance, that looks like a good way to go; however, as your realtor can tell you, the first 10 days on the market are crucial—, at open houses, and showings. As well, if you post photos online of your un-staged property, you are losing potential buyers from the onset and they’re gone for good. 78% of buyers look online FIRST before deciding which houses to go see—do you want to risk not being on that list?

Delaying staging can ultimately lose you a sale. Take the time before listing your home to properly get your house ready for market. If the thought of packing stuff away seems overwhelming, just remember that you’ll have to do it eventually when your house sell, so think of this as Step 1! Imagine how much easier your move will be at the end when you’re already half packed!

Moral of the story: Waiting to stage your home can cost you much more money than anything spent on staging. If you wait, it usually means that staging accompanies a price reduction. Why wait and leave money on the table? Squeeze as much equity out of your house as possible by being proactive and investing in the right changes to get a positive return on investment.

“Nothing can come of nothing” – King Lear

I sometimes hear clients protest with comments like, “I’ll just let the new owners make the changes they want.” or “Why do I need to stage anything for potential buyers? They’ll just imagine the house the way they want to.” Here are the problems with those statements:

Sure, potential buyers can always make the changes that need to be made to the property, but you can bet their offer will reflect these cost AND the time and effort to make these changes. If potential buyers are actually interested in making the changes (many aren’t though), they will likely go through the house making a list of “deductions” that will come right off their offer price.

Sure, potential buyers can visualize the property regardless of its current state…. If they’re part of the small percentage of the population that actually has the ability to do so (only about 15%).

Moral of the story: If you put nothing (staging, elbow grease, repairs, etc.) into your home before you sell it, don’t expect to get more from potential buyers. They’re looking for move-in ready homes that they can easily visualize themselves in the space. Help them do just that!

“Be not afraid of greatness” – Twelfth Night

And so we end our Shakespeare lesson with the most important lesson of all—do not be afraid of greatness when it comes to showing off and selling your property. Whether in a buyers’ market or sellers’ market, your house should always be ahead of the competition. In the case of a buyers’ market, staging your home will help it sell faster (about ½ the time of a comparable un-staged property) and for more money (about 6 – 10% more than a comparable un-staged property). In the case of a sellers’ market, staging your home will often lead to multiple bids!

Moral of the story: It is statistically proven that the time, effort, and investment that go into staging lead to faster sales and for more money. Why say no to greatness?

Christine LeLacheur is a Certified Staging Professional (CSP™) and has a Masters of Business Administration (MBA). She continually augments her formal education by keeping on top of industry trends and keeping an ear to the ground to ensure she provides homeowners with ideas and layouts that appeal to an array of potential homebuyers.

Christine and her team are committed to making your house looks its best, optimize its value, and add to your pocketbook without leaving any equity on the table! Contact Christine today to learn more about how The Frugal Stager can help you sell your home!

Add Railings to your Home Renovation

You have finally decided on the neighbourhood that your Dream Home will be built. Is it in Eatonville, or Princess Margaret? Will you decide to be near the Humberview Plaza at Royal York and Dundas or closer to the subway access at Islington or Kipling?

The house that you purchased was repainted and staged for sale, a bit of waste and shame given that the old house will be levelled and rebuilt with your Dream Home. When you commited to the purchase you didn’t even go inside, you walked the property and looked at the majestic oak trees in the backyard and wondered if it would survive the reconstruction. Will the yard allow you that outside fireplace as the family gathering point on chilly evenings or entertaining?

You already have plans in mind and have been in conversations with the Custom Home builder of your choice to finalize the floorplans and materials list. There are literally thousands of decisions to be made that cannot be undone just by changing your mind.

We realize that the focal point for family lifestyle is the kitchen, but the IMPACT point for first impressions is the front hall and foyer and the display of the centre staircase. How will you accent the open wood stairs? Have you decided on marble? Will you decide on white risers and a dark tread (steps) or will you you leave that natural wood stained finish shine? Have you consider a wrought iron staircase?

The best display that accents the foyer is the wrought iron railing that wraps the stairs and protects your family. The wrought iron work is a statement about yourself and your taste, your achievements and a compliment to the stylings of the house; whether they be ornate, olde world or contemporary.

Alex Gorgiovski from B O creative Steel (here in Toronto) said “The staircase and the railings make a statement about the house and it’s owners.” “The railings can be made to frame a Juliette Balcony from a second level that frames the foyer visually or run from the upper level direct down to the lower level as a continuation of the same theme.” He continued to add that repairs and restoration work was also available from his olde world trained craftsmen to expertly match existing work to make repairs.

Alex said “We specialize in wrought iron staircases, railings, gates, and fences. Everything we sell, we make right here in Toronto.” If you have any questions you can reach Alex at the office, 416 335 3409 or cell 647 407 0034

If you are considering the renovation of the interior of your home, take advantage of the home renovation tax credit; that you investigate Alex’s catolgue of available railings and decorative peices. You may find something that accentuates your home far from the ordinary.

If you are considering the construction of your Dream Home in Etobicoke I invite you to contact me to select a property suitable for reconstruction. Lets get you building!

As a Landlord… Thou shalt not

Larry the Landlord has owned this property for more than 20 years. In the last 10 years the same tenant (Tina the Tenant) has been the occupant.

Since Tina the Tenant paid relatively well, Larry the Landlord hasn’t kept pace with all the allowable rental increases available from the Landlord Tenant Tribunal.(LTB)

Larry has been watching the real estate market in west Toronto rather actively and finally felt the time was right to part with the challenge and obligation of looking after a rental property. He struck up a conversation with Tina about whether they might be interested in purchasing the property as they had been there 10 years.

Tina the Tenant, was interested in NEGOTIATING for the property but there were so many repairs that were required, including the MOLD in the basement.

MOLD When did that happen?

Larry the Landlord was shocked at the comment about mold in the basement and made further inquiries about what had happened to cause the mold to occur. Well… the laundry tub has been leaking for a few years now in the basement and the mold is forming around the base and studs of the bathroom wall so [we] removed that dividing wall that led to the drain so the water would run off. This could have been avoided with a 30 odd dollar laundry tub replacement or a 3 dollar washerplus the related labour cost.

Out of concern for the family and mold in the home; combined with potential liability; as well as continuing damage to the property Larry the Landlord, arranged for Certified Air to attend the property with a Mold Specialist. Steve Herzog from Certified Air, an indoor air specialist arrived with moisture sensors, Infra Red Readers and sample of Liters of air samplers for the labs to analyze.

The mold has indeed proven to be the toxic variety that needs to be removed by gutting drywall and framing in the basement, rewiring, removal of broadloom and flooring and baseboards. The repair will require the removal of the tenants for the duration of the repairs. That would constitute an eviction and actionable for damages. LTB Tribunal Form N5

Let’s Have the Home Insurance pay!

UMMmm ..No. There are specific riders that are required in your insurance riders that must stipulate damage or liability by/of tenants. The Insurance Company’s mission is to deny coverage of a claim wherever possible (to protect shareholders).

“Most currently written policies contain exclusions to any mold claims except where caused by flooding. There must be a sudden damage event” said Dmytro Badiwsky with Humberview Insurance. He continued to add “..should have specifically declared as in a tenant liability package.”

Will the Landlord and Tenant Board protect the Landlord?

Will the Courts?

Who will indemnify the Landlord for loss of income during the repairs and ultimately the repairs expenses?

As always, I would love your feedback and thoughts about this article. Was it helpful, what did you get out of it, how are you going to use it? Please email me your feedback at David@DavidPylyp.com or add your comments below.

The story will continue shortly, stay tuned or sign up for the sequel on the RSS feed.

Time is right for first-time homebuyers, housing experts say

TORONTO – Low mortgage rates and more affordable homes in many markets are pushing first-time home buyers to enter the market in droves, Canadian real-estate experts say.

Phil Soper, president and chief executive of Brookfield Real Estate Services (TSX:BRE.UN), said that when the Canadian housing market was hot, bidding wars forced many buyers to put in offers without conditions to increase their chances of being accepted.

This, combined with unprecedented increases in home prices in many parts of the country, scared many first-time buyers out of the market, he said.

“When first-time buyers stop entering the market it’s like sand in the gears of the housing market,” said Soper, speaking Tuesday at a BMO conference on the current and future state of Canada’s housing market.

But he said the economic downturn changed all that. As housing prices fell across the country and lenders lowered their mortgage rates to attract borrowers, the market became much more attractive to people looking to buy their first homes.

“The uptick in first-time home buyer purchases across the country is quite astonishing,” Soper said.

David Pylyp; What an incredible reversal of the doom and gloom that has overwhelmed the Media in Toronto. When all has been said and done Brad Lamb sums it up for Toronto by saying “There’s a fair amount of evidence out there that the market has bottomed and is starting to come back,” Lamb said, adding that while prices may not fall any further, they probably won’t rise in the near-term either.

I share the same sentiment. People are looking for 50 % off sales and not finding them. Those [buyers] holding off have been rewarded with home sellers holding back with their property listings. Buyers will start to see a trend shortly. There does not seem to be a glut of inventory available and that results in lower than expected vacancy rates.

Bob Dugan, CMHC’s chief economist, in a release said “These factors have put downward pressure on vacancy rates over the past year.”

There may be hope for us yet! What are your thoughts? Do you agree or disagree? Where do you think we are going?

Appraisals of Toronto Homes

Appraisals for the purpose of the Lender (Mortgage Company) are to ensure that their lending amounts are in line with the borrowers purchase. Simply put, The amount you are borrowing against a house, is valued in the range you are buying for.

In a Seller’s Market, where we had multiple offers, and Buyer’s furiously competing with each other, an appraisal was not as critical… in theory the house would /could be worth more tomorrow. Ostensibly by the time you moved in, 90 to 120 days later you may have instant equity.

But in a Buyer’s Market, the appraisal is ever so critical. The Appraiser, is taking real estate values from identical sales (historic values) similar homes on streets near your purchase, to compare values. An appraiser is not caught up in the emotion of buying, does not give the same weight to the landscaping and staging, or fresh paint, or how well the house showed. They measure the exterior, consider the general condition and make their recommendations. They may not ever go inside.

Although the Buyer usually pays for the appraisal in their bundle of services they will rarely see the final report as it is commissioned by the lending institution. If they do see the report it usually contains real estate jargon that concludes “Purchase within guide”.

Where the Buyer is working with a 20 or 30% downpayment the appraisal is not as critical, but where the buyer is funded with a 5% downpayment, plus the insurance fees, a difference of 5% to the appraised value may result in a request from the Lender to have the Buyer come up with additional downpayment from their own sources. (They effectively, feel you have committed to a strong purchase price.)

An interesting segway from this line of thought is a FSBO transaction, that was declined for financing just days prior to closing. The house appraisal came in, at whatever value but the line of thought was that since it was not on the MLS system, there was no way to establish fair market value as no comparibles could be used. This mystery is within the banks Offer to Finance conditions; that state a number of subject to clauses, IE appraisal, confirmation of Borrowers details, confirmation of down payment source, etc. This FSBO saved by selling himself, and is now in litigation against the bank.

Buyers will continue to buy homes, Sellers will continue to sell, but pricing a home for sale correctly from the onset has never been more critical. After the enthusiasm of the offer and the raw emotion of the purchase the supporting numbers must justify the Bank’s investment in your home.

There are deals out there, if you take your time to find that jewel that your family needs. Contact an experienced Realtor to find your Dream Home.
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How are other countries handling the Financial Crisis?

First Home Buyers Grant Sparks housing Boom.

THE housing industry is booming thanks to the First Home Owners Boost – and builders are having a hard time keeping up. The State Housing Minister, Jennifer Rankine, today joined other ministers in Adelaide to announce the latest statistics.

By the end of last month, 3351 South Australians had taken up the First Home Owners Boost, which in October was raised to $14,000 for existing dwellings and $21,000 for new homes.
“It’s a great problem to have,” Ms Rankine said. “There’s so much building under way that we’re worrying if we have enough builders.”

Federal Housing Minister Tanya Plibersek said that the jobs created by the boom were crucial to riding out the world financial crisis. “We’re talking almost a million jobs,” Ms Plibersek said.
“We’re keeping tradies and apprentices on the job, and putting people in homes.” Ms Plibersek said that the South Australian uptake of the scheme compared favourably with other states.
Statistics from the Government show that South Australian home buyers accounted for more than 10 per cent of the 30,000 national applications.

David Pylyp; While other countries are investing in the real estate construction sector, in Ontario and specifically Toronto, in the last two years, we have added the additional Toronto Land Transfer Tax, on top of the existing Ontario Land Transfer Tax. Lot Levys (New Construction Levy) were under review for increase over four years in the City of Toronto and recently frozen due to the protest from developers. Licencing Fees for Landlords? This month the McGuinty government announced its intention to harmonize the goods and services tax with the provincial sales tax. As a result of this change, provincial sales tax will now be levied on legal fees, appraisals, real estate commissions, home inspection fees and other services related to a real estate transaction. OREA believes that this tax grab will severely hurt the resale housing market and reduce affordability for Ontarians trying to buy a home.

I encourage you to participate by clicking the following link so that you can also email your MPPS on this issue here: www.orea.com/consumercfa.

Maybe we could learn a thing or two from our Australian friends. Have your say,

Your comments are always invited.

Home Energy Audit – Bill 150

If Ontario’s new Green Energy Act passes, Bill 150, You will be paying $300 for a home energy audit. This will be a tax only if you wait until you sell your home. The system will work in your favour if you do your audit now and make energy improvements.

The home energy audit could be a good investment. Once your home energy audit is complete (up to 18 months), you will be on record and won’t need to pay for another audit when you eventually sell; probably years from now. The audit visit and blower-door test takes a few hours and the energy consultants are knowledgable. The resulting 13-page report details where and why your home is not energy efficient, makes suggestions for improvement and educates you about grants. That in itself is a lot of value for $300.

The province will match the federal grants in the ecoENERGY Retrofit program, so you will be getting back twice the rebates. You could rent or hire help to blow in bales of cellulose insulation into walls and attic. With both grants for which you now qualify, you will get back more than $1,600. Buying a few tubes of caulking to seal up cracks that were letting in cold air will get you another $300 in federal and provincial grants.

You may need to replace your hot water heater soon and if you invest in an instantaneous gas water heater, you will get back another $500. And you will not have to fill out any forms to submit to either government.

The energy audit company does all the paperwork. You just sit back and wait for the cheques to arrive.

The focus is how much you can expect to save on your energy bills as a result of upgrading your older home. Imagine, our government paying us to “go green”. And imagine the energy savings in the hundreds of dollars every year because you knew the problems to fix.

You can bet potential homebuyers are more savvy and asking tough questions about energy efficiency. The old days of taking cheap energy for granted are over. In response to this, Royal Bank is offering a rebate on the cost of the Home Energy Audit for its Mortgage Clients.

Providing Value First; Contact David Pylyp in the west Toronto (GTA) for your buying or selling needs.

Well Its Official New PST GST Combined

Well, it seems to be official. The Ontario Government has decided to harmonize the Provincial and Federal Sales Taxes.  July 01st, 2010 the tax Kicks in.

Stephen  Dupuis, president of the Building Industry and Land Development Association, pointed out that buyers of new homes would be hit particularly hard if Ontario harmonized the PST with the federal GST. See previous Posting 

On a $350,000 new home, he wrote that the consumer would have to pay an additional $17,920. But it’s not just buyers of new homes who would be affected by a merging of the two taxes. Buyers and sellers of resale homes would also be hurt because a harmonized tax would apply to many services that are currently exempt from PST – including legal fees, real estate agent commission, renovation services, land survey reports, home inspections, landscaping and house cleaning services. Also affected would be the cost of labour for installations or repairs, including additions, kitchen renovations, driveways, roads, fences, swimming pools and patios. 

Assuming no change in the provincial sales tax rates, the seller of a $350,000 resale home would get hit with an additional $1,400 in tax on a real estate agent’s 5 per cent commission, plus a new 8 per cent provincial tax on moving expenses, legal fees, accounting and bookkeeping fees, renovations, painting and other services which are currently exempt.

Ken Gaudet from the Canadian Taxpayers Federation is quoted as saying that according to their understanding, the Provincial Sales Tax will now permit the (additional) taxing of Gasoline.

So what will happen to buyers looking at a $ 350,000 property, condo or house, with their downpayment of 5%. Their current downpayment is $17,500.00.  As the tax would be applied to all construction, and CMHC fees, lawyers, title Insurance and including movers, Buyers could see a tax bill payable on their Mortgage Insurance fee Increase from  $865 to $1405. This brings the total closing costs on a resale home in the City of Toronto (combined with the Miller Bite) to a total of $8,870.00. (Ontario LTT $3725  Toronto Land Tax $2,200.) *Assumes that LTT rebates may not be available.

Now your total downpayment requirement is really $26,300.00

Let’s get you purchased or sold prior to the implementation of the tax to make your dollars go further.Take advantage of the low interest rates!

Your comments are always invited.