Homes, Condos for sale, Remax MLS Real Estate Listings in North/South Pickering|Ajax, Whitby, Brooklin, Power of Sale Listings, Townhouses

Homes, Condos for sale, Remax MLS Real Estate Listings in North/South Pickering|Ajax, Whitby, Brooklin, Power of Sale Listings, Townhouses

The Vanilla Ice Project - Real Estate

Make money in real estate and live life like a Rock Star !!! Vanilla Ice Did ! You can too !

Thinking of moving? READ THIS !



Looking for a home?

Most people are familiar with hiring a real estate agent to sell a home, but fewer are aware that as buyers, they are also able to hire an agent to work diligently, protect their interests and find the best possible property for the best possible price. Many people assume that the best person to call when interested in a property is the listing agent, when this is not the case!


Buyers often approach the task of finding a new home by calling the number on “For Sale” signs, searching real estate magazines & newspaper ads and using web sites such as MLS.ca. What they may not realize is that by contacting the listing agent directly (the name on the “For Sale” sign or the ad), they are actually calling the agent who’s first and foremost responsibility is to protect the interests of the seller!

This is not to say that listing agents are not to be trusted – they are licensed professionals and are obligated to work with a buyer in a fair, honest and ethical manner as their customer, but they do not necessarily owe buyers the fiduciary duty that they owe their client, the seller. Without a signed Buyer Agency Agreement, anything that you disclose to the listing agent about your budget, motivation or otherwise, can and will be used to benefit the position of the seller during negotiations.

What is a buyer to do? Hire your own Buyer Agent! You can interview potential buyer agents and choose the one who you feel will work the hardest for you, has the best track record, and whom you feel comfortable with. Furthermore, a buyer agent’s services are almost always paid out of the gross commission that the seller has paid to their listing brokerage!

When you have found the sales representative that you want to work with, you will sign a contract called a “Buyer Agency Agreement” which legally obligates your agent to provide you fiduciary duty, confidentiality and to protect your interests and motivations. In return, you agree to work solely with your agent for the time period stated therein, and allow them to collect their commission from the sale of the property that you purchase.

Once you have chosen your Buyer Agent, you will be in a much better position to find the best property for you. Many listings are sold before the “For Sale” sign ever goes up and there is a time lag between realtor’s MLS and the public MLS website, so your Buyer Agent is able to notify you about a hot listing before it hits the public portals. Once your agent understands your preferences, they will also keep their eyes open for you as they inspect properties daily. Remember that during the day, while you’re at work, your agent will be out inspecting and comparing properties to find you the perfect fit! In addition to helping you find a property, a good agent will also be able to help you with things such as mortgage pre-approvals, lawyers, insurance, and home inspector referrals.

Buying a home can be an intimidating task. Hiring a Buyer Agent to guide you through this process is one of the best ways to ensure that you will be prepared to make a confident and informed decision when the time comes to place your offer.

For more information, please call Michelle Makos at 905-831-3300 or 416-300-3004 or email at michelle.makos@rogers.com

1675 Goldenridge Road, Pickering - NEW LISTING !

Looking for a prime Pickering location.  A superb Marshall built home with all the bells and whistles.  This fabulous home is waiting for you.  For a private viewing, call Michelle Makos at 905-831-3300 or visit my website at www.michellemakos.com

First Time Home Buyer? Don't know where to start?

Getting Your Foot in the Door.


Like many would-be first time homeowners, you may be wondering how you can possibly afford to buy your first home. Even if you think you can't afford a home, these saving tips and financing strategies can take you there sooner than you think and turn you from a renter into an owner.

Develop a plan for saving

The first priority for you should be to develop a culture of saving. This not only helps you in budgeting and planning for the future, but also to satisfy banks and other lending institutions that you have a clear commitment to save.

Start an automatic saving plan

Saving for a down payment can be a financial challenge but it's a step forward to owning your dream home. Make saving automatic by setting up an automatic savings plan at your bank to regularly move a specific amount of money directly from your chequing account to a savings account. You'll be surprised at how much you can save and how quickly the "pay yourself first" approach adds up.

Borrow from yourself

The federal government's Home Buyer's Plan (HBP) lets you borrow from your Registered Retirement Savings Plan (RRSP) to help purchase your first home. You and your partner can each withdraw up to $20,000, provided it's not locked-in and the money has been in the RRSP for at least 90 days. You have to repay the loan in installments over the next 15 years to avoid a tax hit.


Take a holiday from tax

If you open a new Tax-Free Savings Account (TFSA), you won't pay any tax on earnings, which will help you compound your savings. You can contribute up to $5,000 a year to a TFSA, and save for anything you like, tax-free.

Review your mortgage options

Once you make the decision to purchase a property, the next choice is the type of loan to suit your budget. The two most common types of loans are the variable interest rate loan and the fixed interest rate loan.

You can now choose to pay back your mortgage over 25 years, instead of the traditional 20-year amortization period. This means you will pay more interest over the long term, but you can reduce monthly payments to get into your starter home. You can always change this later, once your income rises and you can pay your mortgage down faster.

Get into a starter house

Try to be as flexible as possible when choosing your first home. Unless you are status conscious, your first home doesn't necessarily have to be your dream home. You could settle for a starter home, which you can afford with a small down payment and easy mortgage installments. There are plenty of lower-priced houses out there in need of repair, with some "Do-It-Yourself" projects where you can add more value to the house. Just be careful not to buy a place where the cost of repairs will eat up any profits you might make when you sell.

In just a few years you will build enough equity in your starter home to make it easier for you to sell and move into to your dream home.

Buying your first home is an exciting process. After all, your home could be the largest asset you'll ever own. Being able to finance most of its cost will take a load off your back in the future.

Have a question?  Please don't hesitate to contact me.  I would be happy to answer it or assist you in finding an answer.  Buying your first home is an exciting process.   Happy House Hunting !

COMING SOON - 1675 Goldenridge Court, Pickering

SNEAK PREVIEW - MONDAY APRIL 1st, 2013

Superb Marshall Built Executive Home in High Demand Prestigious Enclave.  Many luxury upgrades, fabulous kitchen with quartz countertop, Chefs Desk, Upgraded floors and trim, Soaring Ceiling in Family Room w. Gas Fireplace, 50 Ounce Carpet, 5" Baseboards,  9' Ceilings on main level.  This home truly has the "WOW" factor. Inspection Report by Global Home Inspections.  Shows to perfection !!!

New Listing in Bowmanville !

Fantastic Opportunity To Own This 2 Bdrm. Condo On The Ground Floor.  No Stairs.  Ensuite Laundry, Breakfast Bar.  ** Includes Two Parking Spots **  Great Starter Home.  Walking Distance To Schools.

Includes Fridge, Stove, B/I Dishwasher, Washer, Dryer, All Electrical Light Fixtures And Two Parking Spots.  Please Exclude Drapes In Living Room All Other Blinds/Window Coverings Are Included.

FALSE GROW OP RUMOUR KILLS HOUSE DEAL

If you learn that your home was once owned by a drug dealer, must you disclose that to a potential buyer when you sell?

Disclose?

Donald and Jodi Dietrich bought a home in Winterbourne, Ont. in 2001. They were told by a neighbour several years later that an earlier owner was a drug dealer. In 2007, the Dietrichs contacted Waterloo Regional Police because they had heard that their property had been a grow house. The police told them there was no record of any grow op on the property.

They sold their home on January 31, 2010 to Mark and Elizabeth Leech for $655,000, with a $10,000 deposit. The deal was scheduled to close on May 14, 201. They did not say anything about the rumours, but before closing, the buyers also heard that a prior owner was a drug dealer.

The Leechs also went to the Waterloo Regional Police who told them the property had been identified as having a “clandestine or secret lab”. On March 29, 1995 a large quantity of hash oil was seized at the property although police did not find any grow operation or meth lab.

The Leechs wanted out of the deal. They argued that since the sellers must have known about this, they had a legal duty to disclose it and since they didn’t, the deal was off.

The Dietrichs claimed they knew nothing about a grow operation or meth lab, but the deal didn’t close. The Leechs sued for the return of their $10,000 deposit and the Dietrichs sued for damages suffered in not being able to close the deal, which came to $12,237.68.

In Small Claims Court, the Leechs submitted a March, 1995 newspaper article that suggested seven pounds of hash oil was seized, and a police report that said a room beneath the garage may have been at one time a hydroponic grow room. The police report suggested that charges were laid against several people as a result of that criminal investigation.

Deputy Judge Sebastien Winny of the Kitchener Small Claims Court determined on October 17, 2012 that a prior owner of the property manufactured some hash oil in the garage as a clandestine or secret laboratory. No evidence was provided that those activities caused any damage to the property. There was no proof of there having been any marijuana grow operation or meth lab on the property.

The judge also found that the sellers had no actual knowledge of anything related to the drug manufacturing except the rumour from the neighbour. The information the sellers received from the police suggested the rumour was false. There was no duty on the seller to disclose vague, unsubstantiated rumours.

As such, the judge held that the buyers had no legal justification for refusing to close, so the sellers were given all damages that they proved as a result of the buyers not closing, including extra rental costs and lost wages in dealing with the matter. If the sellers did have actual knowledge about a grow house op or meth lab on the property, they would have been required to disclose this information.

If you are thinking about buying a home that used to be a grow house operation, there may be damage caused by excess moisture. You will need to make sure the property has been remedied and certified by a company that provides these services. This could also require having the electrical system inspected and cleared by the Electrical Safety Authority. This will be the minimum required by any insurance company. Some companies that provide these services are Restoration Environmental Contractors Ltd. and Tri-Star Disaster & Recovery Inc.

More real estate columns by Mark Weisleder

Mark Weisleder is a Toronto real estate lawyer. Contact him atmark@markweisleder.com

NEW AJAX LISTING !

35 Hughes Crescent, Ajax

Freehold End Unit Townhouse with Separate Side Entrance - $299,900

This 3 bdrm brick townhome in Central Ajax is close to all amenities.  Modern kitchen with stainless steel appliances, basement in law suite, perfect for student or teenagers ... side entrance and more.

Looking for your first home or an investment property???  This may be the perfect choice.
For more information CLICK HERE !

To book a private showing, call me.   

Who gets the family home when a marriage breaksdown !

ANOTHER GREAT "MUST READ" by Mark Weisleder.

Without a marriage contract, most assets accumulated by a couple will be divided 50-50 on separation. But in order to minimize the impact of divorce on a family, in many cases one spouse stays in the house with the children while the other spouse leaves.

Here are some questions about this issue from readers:

How is the matrimonial home valued vs. a family business?

This is a tricky question. Although you can appraise a home and a business and put values on them, the tax treatment for each is very different. For example, let’s say you have a home and business and each are appraised at $500,000. They were each purchased for $100,000. When you sell a business, you will have to pay tax on any gain that you made. Yet when you sell your home, which is your principal residence, no tax will be payable. Therefore, in most cases, a home that is appraised the same as a business is actually worth more than the business. This must be taken into account when negotiating any division of property.

Can you be forced to move out?

Can one spouse be forced to move out?

Each married spouse has the equal right to live in the family home. Let’s say the house is registered in the wife’s name alone. They decide to separate. The wife cannot demand that her husband leave. If this cannot be worked out amicably, then the couple will likely have to go to court to get an order as to whether one spouse leaves, or whether the home is sold and the money divided.

Does it matter who stays in the house?

In many cases, upon separation, one spouse will move out of the family home. It will still require the permission of both spouses to either mortgage or sell the home, even if they are not on title. However, while the spouse who lives in the home will not be paying any rent, the spouse who moves out will have to pay rent in another location, and will likely still be responsible for 50 per cent of the mortgage and other expenses in the matrimonial home.

Can the spouse who stays put a mortgage on the home and keep the money?

The answer is no. Even if you leave the home, and even if the property is registered solely in the spouse’s name who stays, you cannot mortgage a family home without the permission of both married spouses.

Do common law spouses have the same rights?

The answer is no. Common law spouses have no entitlement to a share in a family home, unless their name is on title, or if they can prove that they have contributed financially to the purchase of the home. If you are buying a home with your common law partner, you must get your name on title to protect yourself.

Family lawyer Elliot Birnboim of Toronto also tells me that when one spouse gets possession of the family home, this will also affect child and spousal support calculations.

The lesson here is to obtain expert family law advice before you make any decision about what to do with your family home if you decide to separate. The goal should be to balance what will be best for all members of the family, while also ensuring that any property is divided fairly.

More real estate columns by Mark Weisleder

Mark Weisleder is a Toronto real estate lawyer. Contact him atmark@markweisleder.com

Real Estate Slowdown? Where?

Real Estate Slowdown

So all I have heard from the media lately is .... Housing market is going to flatline (National Post),  Housing market shows signs of cooling (CTV),  Housing market slows, Numbers are down, etc.  You are starting to get my drift !!

Well, I eat, breathe, sleep real estate and all I can say is: WHERE???  This sure isn't happening in Durham Region or in the east end of GTA.   I can only speak of what I see and what I know.  I heard the President of CREA last week speaking at a Leadership Conference I was in and she used a line that stuck in my head. "Is this what you THINK or is this what you KNOW?"   And it very true.

People run around saying all kinds of negative things and yet all the buyers I have that find the house they like, usually end up in multiple offers.  It is happening everyday.  SO?  I ask you - where is all this negativity coming from ???

Interest rates are at an all time low !  I remember in 1989 my mortgage was 18%...so let's stop with all this "end of the real estate market" as we know it.  House prices are still 2-5% higher than last year and if the home is presented properly, it SELLS in a minimum amount of time.

Don't feed the negative frenzy.  Agents are looking for listings because we have buyers and not enough good inventory out there.  If you want to sell you home quickly, do your homework.  Clean, fresh, less clutter, a good agent and comparable market price and you won't have a problem.

So if you are thinking on buying or selling your home, don't listen to all this nonsense.  It seems whenever the media has a slow day, they pick on real estate.  LOL  :)

Real estate STILL IS and ALWAYS WILL BE your best investment.  Ask your parents, or think about 20 years ago if you knew then what you know now !!    The rate of  return is second to none !!  Ok, my rant is over !!
On that note, if you are thinking of buying or selling an want a candid honest opinion, I would be happy to come by and meet you and discuss it.

Have a super day !  Cheers xo