If you had to put your home on the market tomorrow, how ready would it be for showing? According to Atlas Van Lines, Canadians move every 7 years on average, so whether you’re preparing to sell or happily staying put, it’s important to keep in mind what you’ll need to do when the time comes:

1) After finishing your dinner do you? :

a. Leave everything on the table and return later to clean up. You’ve got better things to do!
b. Take dishes off the table and put away leftovers. The dishes you piled in the sink can wait until your favourite TV programme is over.
c. Clean the table, put leftovers in the fridge and wash the dishes. You want to be free to enjoy your evening.

2) Your home office has a desk that is:

a. Covered with papers and random objects. You can never seem to find important documents when you need them.
b. Somewhat organized with enough free space to do work. It may look slightly messy, but you know exactly where everything is.
c. Extremely clean and organized. Librarians would admire the efficiency of your filing system.

3) In your household you have:

a. An indoor pet who seems to shed non-stop and a smoker who often smokes indoors.
b. One of the above.
c. None of the above.

4) How do you accessorize your home?

a. With mementos, souvenirs and family photos. You like being surrounded by lots of memories.
b. With eclectic artefacts and antique items. Your style is uniquely you.
c. With few decorative or personal items. Less is definitely more.

5) Which best describes your home?

a. You haven’t had the time to decorate or organize. In fact, you’re using the guestroom for storage.
b. The main areas are decorated, furnished and organized, but you haven’t had the chance to do the same in the basement or guestroom yet.
c. Each room is properly furnished and decorated. You are currently planning your next renovation.

Mostly As

Your home may need a deep cleaning and de-cluttering to prepare it for sale. Pack unnecessary items away, making sure counters and tables are free of appliances and personal items. If pets or smokers reside in your home, have the carpets, draperies and upholstery professionally cleaned to rid the house of undesirable odours.

Mostly Bs

There are a few easy steps you can take to make your home more appealing. Clean your home from top to bottom, paying special attention to kitchens and bathrooms. Organize closets and storage areas. Brighten and lighten your home with a fresh coat of neutral coloured paint and fix any minor repairs that you’ve been neglecting.

Mostly Cs

Your home is in top shape and will only benefit from a little added flair to bring in that sale. Place fresh flowers on the mantle and set the dining room table for a formal dinner. If it’s a cool day, light a fire in the fireplace. Look at your home through the buyers’ eyes and create an atmosphere that will help them envision themselves living there.

Before any work begins, I would be happy to help you see your home through the objective eyes of a prospective buyer. Making the right impression is critical. It will help you sell your home more quickly and at a better price. Please contact me and let me put my expertise to work for you.

With same sex orientation and unions being more widely recognized and accepted, LGBT buyers have burst into the real estate market. Finding a Realtor© who understands your lifestyle and needs is important. A LGBT Realtor© can be more in-tune with your needs, style, and budgetary requirements.

Toronto has many ‘gay friendly’ neighbourhoods outside of the Church Wellesley village but unfortunately not all Realtors© know of them. As a rule, in my experience, I’ve found most people generally accepting but some neighbourhoods are more accepting then others with services and shopping geared towards the LGBT community.

In my opinion, the most gay friendly neighbourhood outside of Church Wellesley village & downtown core is Riverdale / Leslieville. This neighbourhood sits just east of the Don Valley Parkway and south of The Danforth. Queen Street East is dotted with gay owned cafe’s, galleries, restaurants, & boutiques. It wasn’t long ago that this part of Toronto was tired and run down. It’s no longer this way. The appeal for Gays and Lesbians is it’s close proximity to the downtown core, Church Wellesley village, shopping, and recreation. Home prices in Riverdale range anywhere from approximately $350K for a fixer upper to approximately $900K or more for a larger home in prime Riverdale. The neighbourhood has a high concentration of gay and lesbian white collar professional couples who are ‘house proud’. There are also ultra chic lofts at Carlaw & Dundas that offer larger spaces and the advantages of condo loving without living downtown.

The Beach also offers some excellent choices for Gay and lesbians. Homes range from condos along the Boardwalk to large homes in the Glen Manor area. Queen street east is a shoppers and diner’s mecca. Quaint cafes and restaurants line the street with plenty of patios. A wide range of retail is available. The Beach tends to appeal to Lesbian and Gay couples who have a more laid back down to earth lifestyle but are still active. The boardwalk provide a large area for recreation, and running. Real Estate prices in The Beach tend to be higher around the $500K mark and up. It’s not uncommon to see Million dollar and up properties offered for sale in The Beach.

Cabbagetown, which is considered to be located downtown Toronto, sits east of Parliament Street & south of Bloor has always had an appeal to Gay and Lesbian home owners. It’s tree lined streets and quaint yet spacious Victorian town homes offer curb appeal, potential and a strong community feel. Cabbagetown is within walking distance to Church Wellesley Village, restaurants, transit, entertainment and more. It offers downtown living without the noise of living directly in the core. Having a house this close to the downtown core does have it’s price though. It is not uncommon to see homes for sale in this neighbourhood for approximately $700K and up. Particularly in the North end.

Church Wellesley village is considered Toronto’s primary gay village. Restaurants and shopping are king in this neighbourhood not to mention social venues & services geared towards Toronto’s LGBT community. At one time it was difficult to own property in this neighbourhood due to the limited selection and the abundance of rentals. In the last 10 – 15 years the neighbourhood has seen growth and gentrification with numerous new condo developments being erected. For active singles and couples this is a prime location with relative stability in real estate prices. A 1 bedroom condo can be purchased in this neighbourhood for approximately $270K and up.

Other ‘gay friendly’ neighbourhoods include:
-Queen West
-The Annex
-Yorkville
-Kensington Market
-The Distillery District
-St. Lawrence Market area
-Corktown
-Yonge & Eglinton / St. Clair
-Dufferin & Davenport
-Parts of Mississauga

If you have any questions about any of these neighbourhoods I would be happy to answer them for you.

Recently I tackled what will probably be the most difficult staging of my real estate career.  The smaller home, situated on a large lot in a desirable neighbourhood, was quite frankly a disaster when I first laid eyes on it.  Clutter ran rampant.  Dated wall paper adorned the walls. The pungent odour of cat urine assaulted my nose.  The walls, windows, and floors looked dingy.  I thought to myself, “What have I gotten myself into?  Where do I start?”

When consulting with the executors of the estate it was evident that they were overwhelmed by the state of the house and were not quite sure where to start.  Many of the homes like this one in the neighbourhood were being torn down and new monster homes put in their place due to the large lots sizes.  This posed the question of whether to completely empty it out and leave ‘as is’ or stage the home.  Ultimately we decided to stage the home but with a limited budget using the existing furniture in the home.  By doing so I wanted to appeal to the widest margin of buyers possible: Builders and people willing to move in and live.  If we left the home as it was the amount of persons interested in the home would be significantly reduced to builders.  Builders only make up a small percentage of prospective buyers.  If we didn’t do cosmetic changes, people not interested in remodelling would have difficulty visualizing themselves in the home, not to mention be turned off by the odour and grime.

When prospective buyers view a home many psychological factors come into play.  Something as subtle as a marked up wall can turn buyers off.  Clutter distracts from the architectural features of the home.  A piece of missing trim or loose door hardware can raise doubts about how the home has been maintained.  I’ve had buyers in this situation who raise the question, “What else has not been properly maintained and what problems are there that we can’t see?”   Bad odour is a big turn off.  Most people want to get away from unpleasant odours and as a result, when viewing a home with bad odours, buyers will often speed through and not take note of the features.  Quite often when recalling the property they’ll remember the home as the one that smelled bad.   Smell is also one of the biggest triggers of memories.  This is why many Realtors will bake cookies before an open house.  It triggers good memories and smells great.

Back to the subject house.  The first thing I wanted to do was go through the home and label all the furnishings and accessories we could use for staging.  Once this was done I arranged for the family to gather as many people as possible and order a dumpster.  Anything that the family did not want and was not salvageable for local charities was to be disposed of.   In one day we filled a large dumpster.  By cleaning out the home it created room to carry out the necessary improvements to get the home ready for sale.

Next up it was a thorough cleaning.  This entailed washing walls, spot removal, window cleaning, dusting cobwebs out of the corners and off the ceilings, thoroughly scrubbing down the bathrooms and kitchen, and polishing the furniture.  Already the home was smelling better and looking bigger.  All the clutter and odour were distracting from the great features that the home had to offer.  We also had the broadloom professionally steam cleaned.  Although this didn’t get rid of the cat urine odour completely it helped immensely.  The areas causing the odour were treated afterwards with an enzymatic spray that breaks down the urine on a molecular level to get rid of the smell.  Simple Solution

Once the cleaning was completed, wall paper was stripped and required painting completed.  We also decided to paint the vanity, walls and replace the dated floor covering and accessories in one of the bathrooms.  Surprisingly it cost less then $200 to bring the 1960′s powder room into the 21st century & look like a million bucks.   The window treatments in the bedrooms where also updated with simple white cotton shears to give the rooms a bright airy feel.

Furniture was then moved from one bedroom to another.  The difference was night and day.  One of the most common mistakes people make is placing too much furniture in their bedrooms.   This often makes a room appear smaller than it really is and distracts the viewer.  We followed suit with the rest of the rooms.  Organizing, repositioning furniture, & placing accessories.

As a result of our labour we had a home that appealed to the largest array of buyers and were able to offer it for sale at a higher price.  Here’s a recap of things to do when staging.

1. De-clutter.
2. Clean thoroughly.  Light fixtures, walls, ceilings, windows, and the obvious things like kitchens(this includes de-greasing and cabinets) and bathrooms.
3. Touch up paint and repaint if necessary.
4. Consider stripping outdated wall paper.
5. Reposition furniture to improve flow and openness.
6. Get rid of offensive odours.
7. Consider renting furniture to update a room’s look.
8. Place accessories but not too many that they distracts from the room and house itself.
9. Consider doing minor cosmetic updates to bathrooms and kitchens.  They’re more affordable then you think.
10. Use nice bedding and make use of pillows and throws to create an inviting look. Good, fluffy towels in the bathroom help create an image of luxury and comfort.

If you are interested in viewing this property or selling your home please contact me.

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THE CANADIAN PRESS

Home ownership became more affordable for Canadians in the last quarter of 2008, reversing a trend that began four years earlier, according to Royal Bank of Canada.

The RBC Affordability measure tracks how much of a typical family’s pre-tax income is required to pay for different types of housing and expresses it as a percentage.

From mid-2004 to early 2008, RBC found the cost of home ownership consumed a greater and greater portion of family income.

RBC said that trend reversed in the final three months of 2008 – a period that many economists say marked the beginning of what’s become the deepest recession in decades.

The national rating for a detached bungalow, which RBC uses as a benchmark, fell to 43.7 per cent in the October-December quarter – down 2.1 percentage points from the July-September quarter.

Other types of housing also become more affordable, RBC said, with standard townhouse costing 35.4 per cent of family income (from 36.9), the standard condo to 30.1 per cent (from 31.4), and the standard two-story home to 50 per cent (from 52.0).

RBC Economics said the biggest factor affecting the improved affordability in the final three months of 2008 was falling mortgage rates, while improved family income also contributed.

Lower house prices were only a factor in Calgary, Edmonton and Vancouver, which had been among the hottest real estate markets, the bank said.

“Going forward, low mortgage rates and persisting downward pressure on housing prices will continue to help repair affordability although slowing income growth will act as a restraint,” RBC economist Robert Hogue said in a statement.

There were wide variations in affordability depending on the region. A detached bungalow in Vancouver, for example, cost a sky-high 70.3 per cent of family income.

In Toronto, the figure was significantly lower at 51.3 per cent. Calgary’s reading was 42.7 per cent, Ottawa was the same at 42.7 per cent, Montreal was 39.4 per cent.

Finally a victory for Leslieville, Riverale and The Beach in Toronto.  I’m am thrilled beyond words at the judgement made by the Ontario Municipal Board today to not permit the development of the former site of Toronto Film Studios into a 700, 000 square foot retail complex.  This will help to keep the vitality of the surrounding area and help ensure the survival of the neighbourhoods small family owned business’ which give this part of Toronto such a unique feel.

Click here for the full article.

TORONTO, December 10, 2008 – Supported by a study on the impact of the Toronto Land Transfer Tax, recently authored by the C.D. Howe Institute and two University of Toronto Economics Professors, Greater Toronto REALTORS® are renewing calls for this tax to be rolled back.

“The housing sector is one of the most significant parts of Toronto’s economy,” said Maureen O’Neill, President of the Toronto Real Estate Board (TREB). “Unfortunately, the study prepared jointly by the C.D. Howe Institute and Economics Professors from the University of Toronto shows that the Toronto Land Transfer Tax has had a negative economic impact, which TREB estimates to be $170 million in 2008.”

The study found that the Toronto Land Transfer Tax, which costs average Toronto homebuyers approximately $4,000 in addition to a similar amount for the provincial Land Transfer Tax, has reduced sales of re-sale single-family homes (condominiums not included in study) by 16 per cent, which means approximately 3,500 lost re-sale transactions in the first year of the tax. If condominiums are included, REALTORS® estimate that the impact could be in excess of 5,000 lost re-sale transactions in the first year of the tax.

A separate recent study, conducted by Altus Clayton for the Canadian Real Estate Association, determined that every re-sale housing transaction in Ontario generates approximately $33,425 in economic spin-off activity on things like renovations, furniture, and appliances. This means that losing 5,000 re-sale housing transactions because of the Toronto Land Transfer Tax costs the City’s economy approximately $170 million in consumer spending.

“When people buy a home, they usually spend thousands of dollars on related things like renovations, furniture, and appliances. Thousands of Toronto jobs depend on this spending,” said O’Neill. “Any City policy that impacts housing sales has a direct impact on the City’s economy and jobs.” With the City currently preparing a recommended operating budget for 2009, TREB is calling on City Council to roll back the Toronto Land Transfer Tax.

“REALTORS® have been clear that we believe that the Toronto Land Transfer Tax is unfair and now a study by respected economists is validating that view. Not only is this tax unfair to home buyers and sellers, but also to the thousands of people whose jobs depend on the housing sector,” said O’Neill. “City Council can, and should, show leadership by rolling back the Toronto Land Transfer Tax.” REALTORS® are looking forward to opportunities to provide input to the City’s 2009 Operating Budget.

Greater Toronto REALTORS® are passionate about their work. They adhere to a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 28,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.

1. Be prepared for dust, dust and more dust.  Even away from the part of your house being renovated you will find layers of dust.  I’ve found that a bucket with warm water and a cloth works best at getting rid of.  Stay ontop of it otherwise it will become a huge cleaning job at the end.  Dust isn’t very healthy for electronics either.

2. I’m happy that we decided to get permits….. MAKE SURE YOU GET THE PROPER PERMITS… It turned out that the new breaker installed in the electrical panel wasn’t the correct one for the new line.  If we hadn’t insisted on an inspection from the ESA (Electrical Safety Authority) we wouldn’t haven’t known the different.  Even though it may have been minor it was a risk I wasn’t willing to take.  Everything else electrical passed with flying colours.  Moving plumbing requires a permit.  Replacing stairs and railings requires a permit (Although it’s not structural the permit is for safety)…. another lesson learned.  If your contractor says it’s not neccessary double check with your local building authority or city hall.

3.  When your contractor tells you 3 weeks for completion of the work, DOUBLE IT for the sake of preparation and planning.  We just passed the 3 week mark and it’s probably going to be closer to 5 or 6 weeks.

4.  Keep the communication lines open with your contractor.  Good communication is very important and it’s averted some disaster in my case.  I’m happy with our contractor and that he’s able to communicate.

5. Make sure you have funds set aside for extras and emergency items.  Yes it turns out an error was made and a thermostatic valve was not ordered.  It added ontop of the cost. Oh… also… 3 weeks for the part to arrive.  (Refer to tip #3).

6.  If something doesn’t seem right or make sense speak up.  Don’t assume that it’s okay or that it will be done correctly.  Don’t feel pressured into accepting it.

7. Have your HVAC system (ducts and furnace) cleaned professionally after the work has been completed.  Also during the renovation make sure that your furnace filter is changed and not clogged with dust and debris.

8. When interviewing contractors ask how many people (labourers) will be working on the job at a time.  If it’s just one then it’ll take longer than 3 or 4.

9. Make sure you have a written and signed contract with your contractor.  Ensure that time lines are written into the contract of when phases of the job will be complete.  To ensure that the contractor does not drag their heels work into the contract financial penalties if deadlines are not met.  Also include a warranty of workmanship.

Other tip:  Habitat for Humanity will take away your old fixtures (If they’re in good shape and reusable) for free.  It’s just a matter of picking up the phone to arrange a pick up date.

1. Seller’s Agent
When a real estate company is a “seller’s agent,” it must do what is best for the seller of a property. A written contract, called a listing agreement, establishes seller agency. It also explains services the company will provide, establishes a fee arrangement for the Realtor’s services and specifies what obligations a seller may have. A seller that enters into a non MLS Exclusive Listing Agreement has great flexibility in the terms and conditions of the contract. A seller entering into a MLS Listing Agreement has somewhat more limited flexibility being required to conform to the standardized rules and regulations of the MLS system. See: Exclusive or MLS listing agreements… what’s the difference

A seller’s agent must tell the seller anything known about a buyer. For instance, if a seller’s agent knows a buyer is willing to offer more for a property, that information must be shared with the seller. Confidences a seller shares with a seller’s agent must be kept confidential from potential buyers and others. Although confidential information about the seller cannot be discussed, a buyer working with a seller’s agent can expect fair and honest service from the seller’s agent and disclosure of pertinent information about the property.

2. Buyer’s Agent
A real estate company acting as a “buyer’s agent” must do what is best for the buyer. A written contract, called a Buyer Representation Agreement, establishes buyer agency. It explains services the company will provide, establishes a fee arrangement for the Realtor’s services and specifies what obligations a buyer may have. Typically, buyers will be obliged to work exclusively with that company for a period of time. The buyer representation contract is a contract between an agent and a client and is usually based on the Ontario Real Estate Association’s Buyer Representation Agreement. This contract can be modified by written agreement of both parties to their satisfaction. There are no MLS requirements for buyer contracts as there is no Buyer MLS system in place at this time. Confidences a buyer shares with the buyer’s agent must be kept confidential. Although confidential information about the buyer cannot be disclosed, a seller working with a buyer’s representative can expect to be treated fairly and honestly.

3. Dual Agent
Occasionally a real estate company will be the agent of both the buyer and the seller. The buyer and seller must consent to this arrangement in their Listing and Buyer Representation Agreements. Under this “dual agency” arrangement, the company must do what is best for both the buyer and the seller. Since the company’s loyalty is divided between the buyer and the seller who have conflicting interests, it is absolutely essential that a multiple representation relationship be established in a written Representation Agreement. This agreement specifically describes the rights and duties of everyone involved and any limitations to those rights and duties. Current legislation in Ontario deems all sales representatives and associate brokers working for one brokerage company, no matter how small or large, to be the same agency. This automatically puts all buyers under contract with any representative from that company, who are interested in any of that companies’ listings, in a Multiple Representation situation for those listings.

Who’s working for you?
It is important that you understand who the Realtor is working for. For example, both the seller and the buyer may have their own agent which means they each have a Realtor who is working for them. Or, some buyers choose to contact the seller’s agent directly. Under this arrangement the Realtor is working for the seller, and must do what is best for the seller, but still may provide valuable services to the buyer. If the seller and the buyer have the same representative, this is multiple representation and the Realtor is working for both the seller and the buyer.

A Realtor working with a buyer may even be a “sub-agent” of the seller. Under sub-agency, both the listing agent and the co-operating agent must do what is best for the seller even though the sub-agent may provide many valuable services to the buyer. Sub agency is created when a buyer chooses not to make a contract with a buyer’s agent and indicates in writing that they would prefer the agent they are dealing with to be the agent of the vendor and for them (the buyer) to have ‘customer status” only with the agent they are dealing with.

Code of Ethics
Realtors believe it is important that the people they work with understand their agency relationship. That’s why agency disclosure is included in a self-imposed Code of Ethics which is administered by the Real Estate Council of Ontario. The Code requires Realtors to disclose in writing the nature of the services they are providing, and encourages Realtors to obtain written acknowledgement of that disclosure. The Code also requires Realtors to enter into a written agency agreement with any sellers or buyers they are representing.

Realtors are governed by the legal concept of “agency.” An agent is legally obligated to look after the best interests of the person he or she is working for. The agent must be loyal to that person. A real estate company may be your agent – if you have clearly established an agency relationship with that Realtor. But often, you may assume such an obligation exists when it does not. Realtors believe it is important that the people they work with understand when an agency relationship exists and when it does not — and understand what it means.

Getting to that point is an adventure. It can be daunting and stressful, but if you follow some simple rules, the whole experience will be a positive one for you. Below we present some tips to make sure that you realize your dreams.

Set Your Goals

Your first task to set your goals. What kind of home do you want? What area? What features (schools, parks, recreational facilities, proximity to work, etc?). What price range can you afford? Answering these questions with the help of your agent will allow you to develop an effective plan for searching out that perfect home.

Your agent can set you up on Property Match so that you receive new listings in your area and price range directly from the Toronto Real Estate Board database. That way you will never miss out on a hot new listing.

Know Your Limits

How much can you afford to pay? The rule of thumb is that your Total Debt Service (TDS) ratio should not exceed 40% of your monthly income. You can work this out by dividing your principal, interest, property tax, heating, half of condo fees and any other monthly financial obligations such as credit card payments, car payments, etc against your gross monthly income and multiplying by 100.

You will also have to factor in closing costs if your offer is successful. These will include some or all of the following: lawyers fees; land transfer tax; survey; home inspection; CMHC fees if you have a high-ratio mortgage; registration fees; compliance letters; title insurance; utility connection charges, etc. Your agent can help you with all of these details.

Get Pre-Approved

Nothing is more frustrating than losing an offer on a home because your financing fell through, or that your offer was conditional on getting financing approved. Get pre-approved first through your mortgage manager or mortgage broker so that you can submit an offer confidently. Your agent can help arrange meetings with your choice of different mortgage experts.

Start Looking

This is the fun part. Go to open houses, or get your agent to arrange private showings of the homes you are interested in. Take notes to keep track of the homes you have visited. If you find a home you think is the one, have your agent register an offer. At this point, the listing agent will require a deposit, which varies by area and type of property, but is usually around 5%. The deposit will be held in the listing agent’s trust account until the transaction closes, or is mutually aborted. If interest has accrued on the deposit it will be paid after closing.

The Dance

Negotiating is a delicate dance whereby everyone wants the best possible outcome for themselves. The vendor wants the best price they can get, while you as the buyer want the best price you can get. There will be offers and counter-offers, and if there are multiple offers on the property, it may start to resemble a feeding frenzy as agents go back and forth between their clients and the vendor.

Again, know what your limit is, and how much you are prepared to go above it, if at all. Your agent will advise whether it’s worth it to sweeten the pot or walk away. Ultimately, however, it’s your decision.

The Winning Offer

Congratulations! Your offer was accepted! Now comes the closing phase, where your lawyer and the vendor’s lawyer transfer title and all the paperwork necessary to put your new property into your name. As stated above you will incur closing costs so make sure those are factored in. On the closing date, the keys will be transferred from the vendor’s lawyer to yours, and you can walk in to your new home and crack open the champagne.