How you can check for previous water damage claims

Photo Cred Tom Ryaboi

You thought you took your time and asked all the right questions…  Everything looked so freshly painted and well finished.   It wasn’t finished, It was masked and hidden.

We have had two major floods in Toronto in the last few years. Storm Damage has been swift and indiscriminate.

 

They sweep out the water.   The broadloom has dried and dehumidified for weeks / months.  Now, that house is up for sale.     How will you find out what happened in the past.    I do.

 

Home Verified Reports are available to real estate agents through Geo Warehouse. This provides a documented 5 year claims history of that property’s activity including if its been a GROW HOUSE.

 

   

HomeVerified Brochure by David Pylyp

The Home Verified Report allows you access to the exclusive database for property insurance claims.  Any claim by any insurer in Canada is recorded here incl; fire, flood, sewer back up, hail etc., going back a five year period.  Grow OPS Records are also included.

This  means that our team is able to provide you more details about the home you are considering as a resale home purchase and give you clarity and confidence to move forward.

Is this the type of information you need?

Lets get started buying your next home.

There is Danger Here – Will Robinson!

There is danger in the Real Estate market;  but it may not be the Bubble or Over Supply, Meddling and tinkering with Finance Programs or even the addition of higher lot Levy’s to the purchase price. Demand continues unabated.

The Toronto Real Estate market just seems to defying logic and continues to increase in price (5% yoy) [and competition] for single family homes.  Taking the average sale price in the 905 [ ring of homes around the 416]   Land Transfer Tax Calculator net of First Time Buyer Rebates.

Average Sale Price in 905          $598,708

Ontario Land Transfer Tax              8,449

Toronto Land Transfer Tax              7,699

Inspection Legals      +/-                 2,500

Mitigating Factors;

You are impacted by two land transfer taxes PLUS the legal fees to close.   I am assuming that CMHC Hi Ratio fees do not apply ( unless you are media where everyone is buying with 5 % down)   Average Mortgage in Toronto is $270,000.

Buyers have been reduced by the Bank of Canada reducing restricting amortization terms to 25 years.* (Yet other insured lenders continue to offer 30 year ams on insured mortgages) You will be taking a five year fixed rate because that is prudent with all the rhetoric about increasing interest rates.   

Selling after 4 years of ownership will incur the following expenses;

• Lawyer Fees      $ 1,600
• Mortgage Penalty at 3 months differential  $3,000
• Real Estate Fees   assumes 5% but we all negotiate  $30,000
• Irrespective of the property taxes and living expenses of heat, hydro, water, insurance repairs gardening, repairs and improvements….

The Toronto Real Estate market would need to gain just shy of 10% accumulated over the next 4 years JUST to BREAK EVEN.

Real Estate is something to buy and hold for decades; raise a family. Plant roots in a community, Join volunteer Groups and Community Watch.  Worship, have christenings and weddings.  Graduations.

I appreciate the benefits and concepts of home ownership and building equity.  I do not believe in Buying to Flip with our Expense and legal structure of ownership.

What do you think?  Ready to Buy a house?   You’re staying put, Right?

 

Landscape to make money Toronto West Homes

According to RE/MAX research Properties that have enhanced their curb appeal tend to sell 7 days faster and for more money. Some fresh planting or bush trimming could be the magic that you need to get your home sold.

Want to get your house sold faster and for more money?

 

http://youtu.be/mlSYYE0mLr4
Talk to your local real estate professional

My Name is David Pylyp
Call me at 905 272 3434

First Time Buyers Disappear According to TD Bank

TD Bank issued their economic forecast in March 2013.   While most are lamenting the additional strains placed on First Time Buyers, TD rightly graphs the reduction in the number of First Time Purchasers by age group.  Immediately beside this is a graph of How many will be over the age of 65 during the next few decades.   After 2030 the Mature market will continue at 25% of the entire Canadian Population?

 

What does this imply?   ZERO net growth over the cost of inflation. 

 

Thank you to Romy Alegria with TD for providing the following details;

•  We project a 3.5% annual rate of return on real estate to prevail beyond 2015 – this is the long-run rate of increase for home prices in Canada. However, this pace will be moderately lower than they have been historically (5.4%). (for more information see attachment)
• It comes as no surprise that new home construction has started 2013 on a soft note, given the fact that housing starts ran at a pace that has largely been deemed as unsustainable in 2012. Indeed, there is strong evidence that building construction grew faster than demand for new homes in 2012. With the 6-month average of housing starts at 195,000 units, new home building is still well above the 180,000 units that are needed to keep up with household formation
• The amount of overbuilding in the Canadian housing market has been a concern for the last decade. It is estimated that the Canadian housing market is oversupplied by roughly 250,000 to 300,000 units. As such, we expect starts to continue to soften in the coming years as the new home market works off some of these excesses
• The Bank of Canada held the overnight rate unchanged at 1.00%, but had a more dovish tone in its communique, suggesting lower for longer interest rates.

Long Run Rate of Return for Canadian Home Prices 1 by David Pylyp

Romy Alegria is forming a new group in Toronto for Women’s Prosperity.  Are you interested?  They even started a Facebook Group. 

Do you agree with the details in the News release?   The information in the Graphs?  Will you be downsizing or have you moved on from your parents home in the Toronto GTA.  Now its an estate sale.   Call me 

Did you think Storage Wars were only on TV?

We have a thriving Storage Locker Business in Toronto. Our Families will squirrel away items that could be used later, then We watch them find long lost and abandoned family heirlooms and items of value when abandoned and forgotten units are sold.  Our sense of curiosity peaked by the search through someone else’s life.  But its happening every day…

Your parents are running out of room yet saving everything later, for you, for the grandchildren.  Some things actually have value while others are past their prime.  How will you know?

It could so quickly become our parents who put things in storage to make space in their home and all is forgotten for the sake of a few index cards and organization.

Many people have off-site storage lockers Where they SAVE items that no longer have purpose. What may have started as a short term solution for their storage needs, but has become a long term issue.

The cost of paying for a locker can ADD up to thousands per year. Unless an index of all the items was made when the locker was filled, most people don’t even remember what is in the locker. 

In the end a storage locker becomes a very expensive garbage can to be cleaned out later

Lets deal with it Now 

Liz Manore   905 467 2400.
Liz@theCompanyofOrganizers.com

http://TheCompanyofOrganizers.com


Staging and Organizing your Toronto Home and preparing to sell.   I would be pleased to introduce you to Liz to get your organized, repurposed and staged for sale.

Call 647 218 2414

Why does it cost more Downtown? Propinquity

What is it?

So buying a place that is at the City Center is logically more expensive.  The trend to live downtown within the City Core or at the edge of transit (suburbs) is desirable. 

Having the place on the beach  YUP   I get that.

The question I’m asking is simple…

Is Toronto a Growth City that is continuing to expand or are we into a retraction?  A wise gentleman Barry Lebow recently said; 

Here is a simple fact that escapes these writers, the journalists who live with their noses against the windows of life, looking in and being envious of that which they do not personally have – no matter how bad the economy, no matter how high the prices, no matter how outrageous the interest rates, houses will be sold! Period. The “why” escapes them and that is the yearning for a place of one’s own, the yearning to have equity, to own versus rent and one of the major factors, our immigration. What is denied most citizens of the world? Rights, human rights and one of those is the right to own land, to own a home. The burning desire to own will outweigh the logic of all economists, journalists or others who analyze real estate like it is actually a rational market. Buying real estate is not rational, it is emotional. So let the gloom and doomers have their say, the public reaction to the market is still the only true barometer of where the market is going. 

The Canadian Business Magazine has a different perspective;

How Low will Prices Go? Investors are potentially more likely to sell when prices decline, which could ultimately flood the condo market with resale listings. With 240,000 more planned condo units yet to be built in the Toronto area, many are worried about a burgeoning supply-demand imbalance. Already, investors are backing away from the Toronto condo market  http://www.canadianbusiness.com/economy/how-low-will-house-prices-go/

All those with strong disposable incomes who want that LARGE Modern Bungalow [into their retirement] cannot find [IT] in the City MUST move themselves to the suburbs and outlying communities.  In the last few years I have seen bungalow demand continue to increase and wheel chair accessibility become more common questions. People want large condo units in the city but maintenance and taxes are prohibitive, In addition to the price per square foot.

Propinquity exists because the house is beside or near something you want or need. 

What do you think?

Add your voice…

Can we go shopping?

We are Global I help you here; That’s local

In an effort to explain reach;  I found this beautiful globe that permits visitors to PIN their location.

This globe is available to you also, free of charge, to install into a wordpress sidebar or a page as HTML code.  http://www.revolvermaps.com/?target=home

Large Visitor Globe

If I can assist with your move to or from Etobicoke [west Toronto] Ontario Canada, please reach out and say Hello.

If you are passing by POST your PIN! Thank you

Connect  http://www.Facebook.com/dpylyp

Connect  http://www.Twitter.com/davidpylyp

My Site  http://www.SellinginToronto.ca

Self Serve Window   http://homeswestToronto.tumblr.com/mobile

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Is your mortgage up for renewal? Toronto

You need to make BETTER Mortgage Decisions.

When you bought your home, you thought you were staying a while.  Either you continue with your mortgage to term and renew or you may need more options.  Circumstances have changed. It Maybe Job or Family.

Breaking your mortgage prior to the renewal or renegotiating may involve penalties.  You may have an opportunity to benefit from the new lower rates by renewing now; even with a penalty.

 We can Deal with a Renewal or Refinance

If your mortgage is with a Canadian Bank that is federally regulated by Financial Consumer Agency of Canada.(FCAC)  The Bank needs to provide you with a minimum of 3 weeks notice of the Offer to Renew and under what terms and conditions.

You knew this was coming and you should have been shopping around. But there is more here than just the interest rates.  Each Statement, each question posed to the LENDER resulted in additional costs. Now there are discharge fees in addition to Re Registration with another lender; so you need to factually examine your options. Get involved because your mortgage is a major component of your monthly household budget. 

Allowing your mortgage to renew automatically does not mean you are getting the best possible terms and conditions.

Switching to a New Lender will require re-document and re- registration. You are in effect applying for a new mortgage and the NEW Mortgage Rules will apply.  Verify exactly what those costs will be.  Your new lender may absorb some of those costs to attract your business. IE Legals, Appraisals, Registration Fees…   Negotiate!

Use an Independent Mortgage Broker that will shop the open market for you to secure the best interest rate and terms for you.  Compare the Mortgage Brokers Offer with the renewal from the Bank. This may be your opportunity to include some higher interest rate debt to lower your monthly payments. 

Your Mortgage Broker can help you understand and read your mortgage documents.  If you have a closed mortgage, you bank may or may not allow you to break the mortgage.  If you are permitted to break the mortgage you will be paying some fees and possibly penalties.

They will tell you if:

 

• you need to pay a penalty and what that amount is
• you need to pay an administration fee
• you need to pay legal or disbursement fees to discharge the old mortgage
• you need to pay legal or disbursement fees to register the new mortgage
• you MUST repay some or all of any “cash back” you may have received when you first obtained the mortgage
• the calculation of any prepayment penalty would be based on the posted rate at the time you signed your mortgage agreement, or on a discounted rate if you negotiated one for your initial mortgage.

A Mortgage Penalty can be reduced if you make a permitted PREPAYMENT prior to renegotiating.  This would appear counter productive if you are adding in credit card debt or other bills. 

 You could renegotiate PRIOR to the Renewal with a Blend and Extend option which simply put will mathematically average the mortgage balance and interest rates. This may be worthwhile if you have a higher interest rate mortgage to combine with Today’s low rates.

 If you blend and renew at a lower interest rate your payment stays the same; so even with a potential penalty added in to the mortgage balance you may effectively pay it off sooner because of the interest rate savings.

 The Decision is yours. A mortgage is often one of the biggest financial commitments you will ever make, so it is worthwhile to do your homework, include knowledgeable and experienced people to help you when you are mortgage shopping, compare the entire package offered by each lender. In seeking the lowest interest rates, consider the features (such as ability to make prepayments or to increase your regular payments) and the services that are important to you and addition fees that may apply.

 

How can I help you today?

 

Veronica Thompson, a Mortgage Agent with Mortgage Alliance Accumetrix (License #12036)

 

David Pylyp

Etobicoke Real Estate Agent

RE/MAX Realty Specialists Inc.,

416 233 9000 or direct at 647 218 2414      

 

Naughty or Nice Why Pack it Twice?

My friend, Liz Manore, at The Company of Organizers and I were talking about the lack of space and organization in our busy lives.   Family and friends will be dropping by shortly for Christmas Cheer and we really want the place to Sparkle.   Liz shared her best.

Liz’s Top Ten Christmas Organizing Tips…

 1) Make a list & check it twice. Actually the more lists you write, the more organized you’ll be. Make a list for all the people you are gifting & write the amount beside their name that you plan to spend. This will help you stick to your budget. Next, book a time when you will do your shopping. This will help you feel in control of your time & help avoid those costly last minute expenditures. Keep the list with you in your wallet or in your phone, so that it will always be with you.

2) If you are entertaining, write a list of what you are serving & again book your time to shop, prep & cook.

3) Buy all the wrap, gift bags, bows/ribbons & cards at once. Put all the gift bags, bows/ribbons in a box (banker boxes work well for this & are not expensive). This makes it easy to store & move to where you do your wrapping. Long rolls can be put in clear garbage bags or you can buy plastic storage bins designed for them. Often, It always takes longer than you think.

 4) If you send out a lot of cards, consider creating a mailing list on your computer to generate mailing labels. This will save you a lot of time. Put on some Christmas music to help set the mood.

 5) Consider buying a few extra hostess type gifts for those last minute invitations. 

 6) Ask for help from family or friends if you are feeling overwhelmed with all that has to be done. You will get the work done in half the time and enjoy it more when you share it with others.

 7) Keep a pad of paper beside your bed. If you are like me, you do your best thinking when all is quiet. This way you wont forget anything, because you’ll probably not remember it by morning.

 8) Consider giving charitable gifts for those hard to buy-for people. This helps avoid clutter, makes the receiver feel good and helps others.

 9) Try to make some time to do your own de-cluttering before Christmas. Out with the old, in with the new. This is especially true for children. It’s a great time to teach them how to donate toys, clothes etc., that they no longer want, need or use and are needed by others. 

 10) Having guests stay? Make room for them in your closet, cupboards or drawers. Its a good time to buy a stacking shoe rack for the extra boots etc that will be in your house. 

 When all your preparations are done, take the time to sit back and enjoy the true spirit of Christmas.

 Merry Christmas everyone.

 

Elizabeth (Liz) Manore is located in Oakville, ON and is a Professional Home and Office Organizer. She helped pioneer the Organizing Industry in the Greater Toronto area through the formation of Professional Organizers in Canada (POC). She is the Founder and President of The Company of Organizers Inc. – a company she created in 1993(formerly Wilful Units) to organize Corporations, Small Offices, Home Offices and Residences. As an innately organized person, Liz brings this unique ability and expertise to all of her work. She understands the necessity for being organized in all areas of life. She has seen the cost and effects of disorganization in her clients’ homes and offices with the loss of productivity, efficiency, and enjoyment. Liz can be contacted at 905 467 2400

Finding your Etobicoke Realtor thru Reviews

Unaware Consumers are becoming an Endangered Species   Where do you start your search?

The Endless path of opportunity

“I want to sell my rental property in Etobicoke Ontario. We’d like to find a great agent who won’t bait and switch us with over inflated estimates on what our property is worth or unrealistic time frames to sell it; just to get the listing.”

So [insert client’s name] sets out like they do in their hunt for any other product or service, digging online. Research.

A Google search for “Etobicoke real estate agent reviews”  provided 30 pages of results:

Not all are local Agents, but aggregators, lead sellers, directories and others who market their way into the keyword search online. Some are companies that just advertise listings.

In 2003

• We found Buyers with Ads in the paper
• Our daily Tear Sheets were organised into books by district and price.
• We were gatekeepers of the LISTING content.
• Yellow Page Advertising was effective.
• When Door knocking, more people were home and willing to open the door.
• Flyers had tangible penetration rates.
• Direct Mail was effective.

We are Smarter consumers

The Web has birthed a new graphic  as the Smarter Consumer. These are people who dig deep into the data points, content, images, video, news and reviews – the things that drive decisions.  They are either effective in their analysis or paralyzed by the myriad choices.

Five or even three years ago, you might write these folks off as “obsessed”, “power users” or even “NERDS”. Today, with more and better information available, they’re darn near everybody.

Do you look things up in the Yellow pages?

No,  Now You Google it …. Etobicoke Real Estate Agent Reviews

In 2013, How Will you find your clients online?

• Your Listings are on Realtor.ca or Your VOW* provides ALL Listings
• DO NOT CALL LIST
• 88% of Canadians are on Facebook
• 45% of Twitter Fans Follow Brands
• 96% of Home Shoppers begin their search online
• 8 Billion Videos are Viewed on You Tube Daily
• YouTube is the Second largest Search Engine [only to Google]
• Post Video Tours and Topical Content to get Viewers [and clients]
• Web 3.0 Provides interactive Content and immediate contact details

Lets start by making a plan for where you want to be.

Call me at today              647 218 2414

http://www.Facebook.com/dpylyp
http://www.Twitter.com/davidpylyp
http://www.SellinginToronto.ca
https://plus.google.com/u/0/109283965469179719942/about/

*VOW  Virtual Office Website   Map Based Listings of Every Listing in Toronto