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Multi Family Res

Tuesday Mar 07th, 2017

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We have often been asked how we select our investment properties and why we favour multi-family buildings. The residential market is our key area of focus, which is divided into owner and tenant occupied. As we delve into real estate for the purpose of investing, we are focused on tenant-occupied properties, rather than owner-occupied homes, as we firmly believe that it has the basis for greater returns. Although an owner-occupied property can appreciate, it is affected significantly more by... [read more]

The Land Transfer Tax In ontario

Tuesday Mar 07th, 2017

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The provincial land transfer tax can add an additional one to two per cent on the cost of a home purchase if you live outside of Toronto. If you buy in Toronto, the amount is almost double. The Toronto Real Estate Board has been lobbying for two years to remove this tax, claiming that it penalizes buyers in Toronto, who already face record high prices. It also reduces the number of potential sales in Toronto, and thus reduces overall economic activity. It is interesting that no other city in... [read more]

10 Myths About Realtors

Tuesday Mar 07th, 2017

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We’ve all heard these questions or statements at one time or another, so I decided to answer them in an easy-to-digest list you can forward to all your associates and misinformed friends. Whether buying, selling, leasing, or looking, many clients or prospective clients have offered at least one of these statements to us, and we’ve all done our best to suppress a vigorous eye-roll. So read on for a thorough debunking of the Top 10 Myths About Realtors: 1) You’ll get a better... [read more]

You can still lose your land by adverse possession

Tuesday Mar 07th, 2017

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Over 99% of the land in Ontario is now registered in the government protected system of land titles. However, that does not mean that your boundary lines are always protected. It is still possible to lose land based on the concept of adverse possession, or as we used to call it, squatter's rights. Here's a recent example. Leslie Truxa and Lydia Sani bought a home at 146 Humbercrest Drive in Toronto in 1989. Their driveway extends to the tip of the home to the north of theirs, at 148... [read more]

Expropriation

Tuesday Mar 07th, 2017

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Frank Meyers, a farmer in Trenton, Ontario, made the news last week about his 7 year fight to stop Canada's National Defence Department's plan to expropriate his farm, which has been in his family since before Confederation, in 1798. His case is a good example of how difficult it is to fight when the Government wants your land. The Defence Department wants Frank's land to build a new training and administrative campus for the Canadian Special Forces Command. Each of the Federal,... [read more]

Helping our children own their first homes

Tuesday Mar 07th, 2017

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As a result of the high prices in the Toronto real estate market, parents are assisting their children with the purchase of a home. Depending on the type of assistance provided, care must be taken in how the deal is structured so that the parents, kids and the bank are all informed and protected. Sometimes parents assist with the down payment. Questions need to be asked if this is intended as a gift or a loan. If it is a loan, there will likely need to be a second mortgage registered on title... [read more]

Protect your view

Tuesday Mar 07th, 2017

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When you buy a home from a developer expecting to keep your view in the years ahead, get it in writing. An interesting case in an Ottawa development shows what can happen if you don't. Some people who bought new homes from Monarch Corp. in the Sandgate Ridge community in Nepean are upset because of plans by Monarch to rezone greenspace behind their homes. Monarch wants to build 11 more homes, just behind the fifth tee of the Stonebridge Golf and Country Club. The owners claim that they paid... [read more]

Five Thing to consider when buying a resale home

Tuesday Mar 07th, 2017

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The decision to buy a resale home is one of the most important ones your family will ever make. In order to be properly protected, here are 5 things to consider: 1. What information is the seller providing in advance? Sellers used to provide property disclosure statements, telling buyers in advance about the condition of their homes and disclosing problems. Lawyers told them not to do this anymore, because of the potential for lawsuits. Some sellers are now conducting home inspections by a... [read more]

Get it in writing

Tuesday Mar 07th, 2017

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hen you buy a home from a developer expecting to keep your view in the years ahead, get it in writing. An interesting case in an Ottawa development shows what can happen if you don't. Some people who bought new homes from Monarch Corp. in the Sandgate Ridge community in Nepean are upset because of plans by Monarch to rezone greenspace behind their homes. Monarch wants to build 11 more homes, just behind the fifth tee of the Stonebridge Golf and Country Club. The owners claim that they paid... [read more]

Two Generation of buyers

Tuesday Mar 07th, 2017

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The millennials (known also as the children of baby boomers born between 1972-1992) and the post Second World War baby boomers (born 1946-1965) are making the greatest impact on the real estate industry today. “Both the boomers and the millennials want move-in ready homes,” says Century 21 Real Estate Canada president Don Lawby. His company, in conjunction with Rona, recently conducted a national home buyers preference survey that looked at the generations’ purchasing... [read more]

2013 Housing in Canada

Tuesday Mar 07th, 2017

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OTTAWA, November 8, 2013 — Housing starts in Canada were trending at 195,338 units in October compared to 191,557 in September, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts. “The trend in total housing starts has gained momentum since July, which is in line with expectations that new construction would strengthen over the second half of 2013. Gains since... [read more]

Space

Tuesday Mar 07th, 2017

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Good riddance long, dark, narrow hallways. Good-bye formal living room. Hello bright, airy space designed for today's homeowner. To see what the next generation is looking for in a family home, stop by The Forest by National Homes, now open for viewing in Bradford, Ontario. "The one thing we wanted to do in Bradford is to get out there and really present some forward-thinking designs," says Wayne Cassidy, principle, Cassidy & Co., which has worked with National Homes for two... [read more]

How to avoid condo board breakdowns

Tuesday Mar 07th, 2017

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When a condominium community goes to war, everyone loses. The owners lose trust in the board of directors’ ability to manage the condominium. Necessary repairs go undone. Not enough money is collected to pay for future repairs. Nothing gets accomplished, and the value of the units declines. Often, disgruntled owners try to replace the directors. In some cases, the courts have to appoint a third party to come in and fix things. The courts will get involved if it can be demonstrated that... [read more]

5 Key Questions when buying a new home from a builder.

Tuesday Mar 07th, 2017

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Here are 5 questions to ask when buying a new home from a builder to make sure that you do not make a mistake that you will regret later: What is the builder's reputation/references? This may be the most important research you can do before buying from a builder. Check any prior home/subdivision/condominium project that they have built in the past. Look at the Tarion website under the Licensed Builder Directory. Better still, go visit any prior homes and talk to the neighbours. For example,... [read more]

Jokes about Ggost

Tuesday Mar 07th, 2017

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Don't joke about ghosts, it could end up in court In an unusual case in Kitchener, the buyer bought a commercial building from a labour union. The union vice president later joked after closing in a newspaper interview that one of the reasons the property sold for less than market value was that there were rumours that it was haunted. The buyer found out and sued for damages, claiming that he should have been advised of this. The judge disagreed and the case was throw out before trial. The... [read more]

Housing horoscope: Bond creates astrological guide for real estate insiders

Tuesday Mar 07th, 2017

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With real estate – if you’re investing in it, selling it, buying it or renting it – you’re always rolling the dice to some degree. And brokers and real estate executives are a notoriously superstitious bunch. Bond New York has the solution: your real estate horoscope, a new monthly feature on the residential brokerage’s website. For each of the 12 astrological signs, Kelly Kreth, owner of Kreth Communications, a real estate public relations firm that represents... [read more]

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