Marketing Plan for selling houses Fast

A well crafted Marketing Plan is based on the experience an agent has developed over decades of trial and error, observing what works best. By specializing in resale homes in the west neighbourhoods of Toronto, within a half hour of the QEW and 427, I am not wasting my time commuting, seeking address's or dealing with gridlock and traffic. I am now using the newest available technologies and web 2.0 based marketing available combined with video marketing and IMPACT internet advertising to expose your property to a larger buyer pool.

I have been successful in driving thousands of views to mls.ca online video's and the West Toronto Homes site thereby creating High Impact Marketing and a Buzz about your property. This dedication and commitment to attract and entice shoppers to have a look at your property enables a competition or multiple offer situation; Better for you.

This can demonstrated and quantified with specific testimonials and property histories.

By combining Video Marketing, with a well priced property that has been thoughtfully presented with slideshow of features and locational placement mapping, we will be able to obtain the highest potential dollar for you from a motivated consumer. Previous open houses have received almost a hundred visitors in one weekend resulting in multiple offers.

In addition to the marketing plan, I have attached a list of documentation that will be required to proceed with your listing and to comply with PIPEDA and FINTRAC reporting.

You can obtain these by signing in and requesting the documents or directly by telephone and making an appointment. Simply placing them online here you will be able to compare what different agents offer in their marketing.

Avoid the Dollar Store MLS Pitfalls

Yes! We all want the lowest price. One company has made this their business credo. The Lowest Price is the Law! But for every benefit there is a cost.

With Real Estate Listings I have observed with fascination the brokerages that are racing to offer the lowest prices for just listing a house; [the concept is termed mere listing] We are merely providing a Listing Facility.

Contained within the listing is a Schedule B, The terms and conditions of selling your home.

It usually contains a clause that indicates a) You have the opportunity to seek outside advice [ILA] b) the real estate company is responsible for none of the information or declarations or statements or people involved in this Agreement of Purchase and Sale.

So... The Owner can say anything they like, make any statements or promises and the Real Estate Brokerage will not be liable.

Well here the first problem. You cannot AVOID your legal obligations by adding a clause that says I am not responsible.

Here is the second issue;

You have listed your property; You have posted the Selling Broker Commission as $1 or as $50, some nominal fee. Since I am under a Buyers Agency I am required to present all properties that fit my Buyers requirements. I will arrive on your door step PRIOR to the showing appointment and present you with a Seller Commission Agreement.

Seller Commission Agreement

Yes, the Buyer has engaged my services to find them a home, yes, they need a mortgage and their downpayment is a large concern. Yes, they will be borrowing against the intended purchase. Banks will not finance commissions, appraisals, surveys or inspections as part of the transaction. They will not finance taxes for Land Transfer Taxes. How much is that you ask?

A very wise person said to me recently "Sometimes, we don't know what we don't know".

Your agent is not present because you are a mere listing and now you want explanations and details. I have a Buyers Agency that requires me to keep their confidences and bargaining position. I do this for a living.

I am not obligated to explain the sign back, counter offer process, timing, inspections, declarations, waivers, obligations or requirements. That is the job of a full service brokerage.

So Lets recap. Usually I would be;

• doing your photo's
• uploading your photo's to the listing
• Loading your 30 - 40 property photo's to a slidesviewer
• providing you advertising.
• promotion on a Top 5 Google Site for Living in Toronto.
• searchable video virtual tours by address
• blogs and address websites
• Online advertising on many varied sites for Maximum Impact.
• Unfiltered access to direct dial my number and seek explanations or guidance.
• Appointment booking
• Inspection scheduling and attendance
• Financing verification and Payouts
• Refinancing Options
• Transaction Management
• Fintrac Record Keeping
• Completion of all Forms

I do not believe that the general Selling Public will be interested in buying or selling a property with this type of service, once they understand. Even the newspapers posted for months in error that everyone would be able to add their listings to the MLS. There well may be investors or landlords that could deal with issues prudently and use mere listings to their own advantage.

What are your thoughts?

Where are the sales happening in Toronto?

Steven Hurst with Real Net - Since January 2000, up to October 31, 2010, RealNet has researched and recorded 428,954 new home sales in the Greater Toronto Area.

Total new home sales are comprised of 161,999 High Rise sales – orange dots including apartment, loft, and stacked townhouse product types; and 266,955 Low Rise sales – green dots including detached, semi-detached, link, and row townhouse product types.

The following video illustrates the monthly sales at every High Rise and Low Rise site over the last 129 months. The bigger the dot, the more monthly sales.

David Pylyp It's Interesting to see the month sales numbers reflected and mapped monthly to show ]how the 905 ring of sales and the transportation corridors compare with the 416 inner city and the down town core near the Toronto Waterfront.

Especially telling is the Humber Bay Shore condo strip ( Lake Shore at Park Lawn to now Windermere) vs the Leslie 401 Bayview growth that has seemingly exploded.

What are your observations?

Avoid 5 common mistakes

The 5 Mistakes that Home Owners make; There is more than Location, Location, Location to Condo or house selection in west Toronto.

Sell Faster; sell with less headache, Sell with someone who understands all the elements in your real estate transaction.

Incorrect Pricing, asking too much merely attracts Buyers and shows that your neighbours house is a better deal. In effective marketing does not attract the correct eyes to your home in Toronto. Poor negotiation gives away thousands that you could have had in your pocket. Poor maintenance issues can make a Buyer think about other unseen repairs.

I will work closely with you to ensure all the elements of your move at considered.

Flat Fee Commissions Now $1 to Selling Broker

Is this the way that you would like to see homes sold in west Toronto?

While many are rubbing their hands with glee about the impending "savings" that will be available as soon as the Competition Bureau invokes the freedom for Providers of Listing Services to list your home on the MLS for a flat fee the lawyers are already hard at work.

You listed your property with a limited service brokerage; who for the sum of IE $199 , $399 or $799 uploaded your listing to the MLS system. They are responsible for nothing else.

You, in the course of your listing agreement were recommended to pay a selling brokerage commission, but hey, why bother, what do you need an agent for?

The Lawyers have been busy also.

Form 202 – Seller Commission Agreement with Co-operating Brokerage for a Listed Property

October 26, 2010 -- Please be advised that Standard Forms has developed a new form to assist Co-operating Brokerages where the Listing Brokerage has indicated in the Remarks to Brokerage field that you can contact the Seller directly for showings and to negotiate payment of commission.

If the listing so indicates, then the Co-operating Brokerage is at liberty to deal with the Seller directly and this form can be used before the showing to establish a commission payment from the Seller.

This form is now available in the REALTOR® STORE. It is also accessible through TorontoMLS and will be available on WEBForms™ as of the first week of November.

Here is a link to the form.

Now, Prior to showing your home, You and I, will need to have a face to face with each prospect that shows up at your door to show the house. My clients respect me enough to sign a buyers agency. They are paying for a service that is paid with funds funds they borrow as a mortgage to pay you and pay via the lawyers from the proceeds of the sale in the course of concluding a real estate transaction. The service that I provide is counsel; we discuss at length is this is the deal for them.

While the sellers are trying to save the commission; the Buyers are calling and asking if they can have the same commission rebated to them!

Its a wonderful house market in Toronto!

Does Brand Power Still Matter?

What Agents do for you!






Does market share matter anymore? Is everything about a personal connect and engagement on Facebook or Social Media?

What do you think?

If you have clients that are relocating to Toronto or Mississauga I would be pleased to send you a referral and a tin of Tim Horton's Coffee. Its the Canadian way eh.

Tech Savvy Agents in Toronto

Real Estate agents in Toronto that are tech savvy are now adding qr codes to their for sale signs and business cards.



If this is on the back of their business card; they are providing you with all their contact information for the Linked In, Facebook and Twitter [amongst others] that people are now using to integrate social media into their marketing. This will also contain their contact telephone numbers and a short 250 character text field.

The extra edge would be to print this one time code, on the for sale sign of a house as you drove by and snapped it with your smart phone, to collect a link to all the property details including a copy of the listing, a direct photo array of the interior and other mundane issues like how to contact me.

Simply put, we need to stay on the leading edge or someone else will.

If you are ready to start planning a purchase or sale give me a call at 647 218 2414.

Ask John Scholl... What about Mom's house?

One of my clients, Jeremy, phoned me and as usual was concerned about a potential tax liability.

He is married with 2 kids and has a house in Toronto. His father recently passed away, and his mother Bernadette, is getting on in age. She has lived in their principal residence under joint ownership in Vancouver for well over 15 years and does not rent out any part of it. She and her husband bought the house for $225,000 and it is now worth over $500,000.

His concern was that when Bernadette passes away, how much tax would be payable on increased value of the Vancouver house and who would have to pay for it. Bernadette updated the will leaving the house in Vancouver to Jeremy. Initially, he was thrilled because it is a beautiful home that he always envisioned he could use as a vacation property. He and his family have visited his parents every year for short vacations and have always been impressed with its upkeep and surroundings. Then he got worried… will he be nailed for capital gains when she dies? Will her final tax bill reflect the growth and have no cash available to pay all the tax? Should he convince his mother to put his name on the deed now to reduce the impact?

This has caused Jeremy and his wife, when he told her of his concerns, a lot of stress as he really didn’t have a lot of spare cash and to cash in RRSPs to pay the cap gains tax bill would also incur tax on his behalf because withdrawals from RRSPs are 100% taxable at his marginal tax rate.

I managed to relieve their stress dramatically. Here is what will happen.

Normally when you are the final survivor in a marriage/common law relationship, upon your death, you are deemed to have disposed of your assets at Fair Market Value. This would be shown on your final tax bill and taxed to the deceased accordingly. The asset then would pass to your estate at that Fair Market Value and dispersed according to the will. The executors role is to ensure the final tax bill is paid.

There are a lot of exceptions…..e.g.: if spouse was alive under joint ownership, then the asset passes to the surviving spouse outside of the will (no probate).

For principal residences in Canada, growth is not taxable, so when Bernadette passes away, the house and property would pass to the estate at Fair Market Value and no tax from its growth in value is payable on Bernadette’s final return.

Jeremy however, should ensure a fair market value assessment is done on BOTH his own Toronto property and Bernadette’s Vancouver property shortly after her death because he already has a principal residence and any growth from here on is a capital gain.

If Jeremy shortly after were to sell his mothers property, no capital gains would be incurred.

If Jeremy shortly after were to sell his Toronto property and move to Vancouver, there would be no capital gain on this either (Principal residence exemption on Toronto property).

If Jeremy were to keep both properties, live in one and visit the other property at least once a year (CRA does not define a lower limit to number of days/year you must live in a property to call it a principal residence), but not rent it out, then, at the time he sells one of the properties, he can determine which residence he wishes to treat as principal residence. He would choose as his principal residence the one that grew the most (tax free principal residence exemption), but the principal residence election can be split year by year for the two properties. Suppose he keeps both properties for 10 years. Growth in value of the Toronto property for 6 of the years was greater than the Vancouver property , but in the other 4 years Vancouver prices took off. Then, he could choose principal residence exemption for the Toronto property for 6 of the years and the Vancouver property for 4 years to maximize that capital gains savings.

The worst option Jeremy would be to have his mother add him as joint owner on the Vancouver property. They would have to get a fair market value assessment done for the date of sale (because that’s what it is). There would be no capital gains on the 50% sale to his mother because it was her principal residence, but what does it do for Jeremy. He would immediately start to accrue capital gains on the Vancouver home from the date of the registration as joint owner because it is his second property. Eventually, when he sold the Vancouver home, he would owe capital gains tax on the growth of the home from the date of joint ownership instead of having the options above from the date of his mother’s death.

Jeremy, was just so relieved that he had options and wouldn’t have to sell his mother’s legacy to pay a tax bill.

John Scholl , CLU (Chartered Life Underwriter),CGA, B. Mathematics,

Financial Consultant - Investors Group Financial Services Inc.

& Investors Group Insurances Services Inc.

Wealth Management & Financial Planning

Phone: (905) 450-2891 X529 Toll Free: 1 (866) 799-2223 x529 Cell (416) 731-3660 Fax: (905) 450-9747

Maybe there is a question that you would like answered; Why not post it below or add an email to david@davidpylyp.com

Fall Market Update Toronto west Real Estate

I want to keep you updated with the Fall Toronto Real Estate Market. There have been many negative stories in the media recently about how the market is “slipping” or that “prices in a housing bubble”.

Here is some interesting news that will take another week to be released to the media .... & because it isn’t Headline grabbing doom and gloom, they likely won’t report it. After reviewing the latest sales figures for the Toronto Real Estate Board;

We are continuing in a “SELLER’S MARKET”!

In the entire Toronto area as a whole, we currently have a 3 month’s supply of homes for sale. Experts consider this a “seller’s market”!

Yes there are over priced listing based on hope and what sold in the spring But Fall prices are historic What I mean is that we compare what sold before Not setting new price levels.

The vast majority of neighbourhoods in the Toronto are still experiencing a seller’s market.

There are a few that are in what could be described as a “balanced market”.

September 2010 there were 6,300 sales for the month The number of homes for sale IS STAYING LOW at 19 thousand. We thought many would be listings but that has not happened. The Reduced supply is holding prices firm. Most were predicting a sharp increase in new listings for September.

Proper pricing and presentation will find you buyers quickly. Buyers do have more choices this year. So in contrast to what you may be seeing in the news, we are doing just fine in Toronto.

Go out and Vote! We need your voice.

Oakville Power Plant Victory

Oakville's Citizen movement to halt the Power Plant at the QEW inspires the voters and residents, Comments on Grass Roots organization, Flip Flop from McGuinty But what are the factors? We all use electricity.... So what is the solution? These are but a few of the polarized comments that are posted at the Globe and Mail. http://www.theglobeandmail.com/news/politics/province-pulls-plug-on-gas-fired-plant/article1747600/comments/

DGC traveler...

1:05 PM on October 7, 2010

They are going to need a lot more transmission lines if the residents of Oakville want to keep the AC and the pool heaters running.

You know Latte machines do not work well during a brownout.

NIMBY - They need power, but don't want the generators to produce it....

2 replies1 reply 2 replies1 reply Please wait while we perform your request.

Catcity

1:27 PM on October 7, 2010

Before accusing Oakville of NIMBY-ism do some research about the issue.

The transmission lines already exist. They run from Nanticoke who has requested that this plant be located in their community.

Natural gas fired plants of this size are hazardous and should not be built in any neighborhood - Oakville or others. These kinds of plants need buffer zones.

Rosehill Ave

2:10 PM on October 7, 2010

The Nanticoke site is being reserved for a nuclear plant to be constructed in the 2020+ time frame.

You don't waste firm transmission capacity on a smaller peaking gas plant like this, that would be stupid.

The transmission capacity from Nanticoke supports its former capacity of 3,600 MW, which is about the size of small nukes.

Sorry Catcity, but constructing a smaller plant like this at the Nanticoke site would be a waste of transmission capacity, and thats a fact. http://www.theglobeandmail.com/news/politics/province-pulls-plug-on-gas-fired-plant/article1747600/comments/

David Pylyp This is such a charged issue. I don't want to see a power plant near residential housing, But Hydro lines and transmission corridors are also a blight on the landscape. (Transmission corridors also consume the power they transmit) While Oakville may be waining in its Hydro consumption I seem to recall that Toronto News Media was talking about record consumption levels of Electricity in Toronto with the warming summers.

What are you grateful for this Thanksgiving Toronto?

Here we are just a few scant weeks away from Halloween and approaching Thanksgiving this long weekend. This year, we have a new mouth to feed in my household. http://twitpic.com/2sa485

Canada has many things to be grateful for; We have seemingly avoided the housing crisis that plagues the United States, Retailers are expecting a banner year for new electronic gadgets, Auto sales are up! Homes Sales and renovation construction are still driving forces in our economy, Apple and iPAD sales are through the roof!

I am a believer that Toronto is a Top 10 City in North America. If you agree go out and Vote.

http://www.youtube.com/watch?v=v8wVUgujTfU

Have a Condo with a Balcony? The fall colours are magnificent! DOT furniture put together a wrought iron bistro set for me. http://twitpic.com/2q3409

The real estate market has not collapsed as has been proposed by so many, people are simply withdrawing to see what will happen and accordingly there is less for sale. Less for Sale means that a 3 – 4 month supply of houses keeps us in a balanced market and some product choices (select neighbourhoods and price ranges) still enjoy bidding wars. We are up about 2% over the rate of inflation from last year.

http://www.eleganthomesinwesttoronto.com/ShowResources.cfm?Pageid=47833&TypeOfPage=1

The Competition Bureau says that discount brokers are permitted on the MLS system and agents are rushing to be first offering flat fee mls programs. A la carte may mean you answer your own sign calls and do your own showings and negotiate your own offers or as one agent posted $150.00 per property showing. The a la carte menu could run you more for the appetizers. OH, counter offer? That will be an extra $400.00, please.

A mechanic is a mechanic because [he] has all the necessary tools; the garage, the lift, the compressed air and the knowledge to use them. The mechanic is not a financing specialist or home stager or home inspector/ mechanic. But If you are aware of someone looking to buy or sell, please send me an email david@DavidPylyp.com with how best to reach them with their contact information. If you are considering a change, tell me about your dream home http://Bit.Ly/GetDave I can be their housing mechanic.

As always, stay well and enjoy each moment you can. Drop something off at the Food Bank.

Property Guys FSBO update

What does it Mean when Property Guys says that Joe Schmo the agent will rob you? Are we in the robbing business? Are you aware that Property Guys post these hangers on Seller's door knobs? When the listing expires? How does Property Guys, the FSBO imply that when you advertise your home it is listed with them? What listing service do they provide? Are they licensed realtors to LIST your home for sale?

Have a look at the Picture below from a door hanger that was removed from a listed property.

Property Guys

We are obligated to provide honest and factual representation.

We must adhere to a level of skill and service.

We are not permitted to make False Advertising Claims.

We provide marketing, negotiation, help with your presentation and if need be staging; coordination of services with Lawyers, bankers, brokers, appraisers, tradesman, Surveyors, Insurance Brokers and especially transaction management and financial prudence.

There is security in knowing who was in your home instead of a fresh knock at the door. Who are you inviting inside?

Why do Buyers use a Realtor? They use a realtor, a professional full time realtor, to cut through the thousands of erroneous reports about nothing down, rent to own, find a house beside the train track, credible local market data that of interest to the Buyer. Help sifting through the hundreds of ads on various sites that sold in 2005 and are still there, looking like the best deal since sliced bread. The Buyers are knocking 10% to 30% off of all offers because they read it in a newspaper somewhere that the values are dropping by 30% this year! Have you read about the Housing Bubble in Toronto Condos?

Buyers who are out shopping for a deal do not wish to enter into negotiations with a Donald Trump Pretend to be Make a deal at My price kind of guys.

What value do I bring? When we are out after seeing homes, we will discuss at length and on paper, homes that have sold in that subdivision, that neighbourhood recently. We will look at the Terranet and GeoWarehouse Mapping to see what sold near you. We can look up all those FSBO ads on the computer by address and we will see that they were sold by Agents after they were listed and buyers were found.

FSBO sites like Property Guys can make whatever claims they like. Licensed Realtors have Errors and Omissions Insurance, decades of experience over hundreds of transactions and access to more information that the general public.

Need more incentive? Were you a Private for Sale and Got ripped off? What mis steps happened in your transaction because you did not know any better? Tell me about it. How many people are suing you because you bought and didn't close and there is a string of related failed transactions. Add your posting.

So many new ways to promote your home

There are so many opportunities and tools to promote your property for sale as well as connect with new families that are considering Toronto as their home. Today it is not just about a sign in your front lawn and an MLS listing. With the market sensitivities we need an exact proper price, professional marketing, superior presentation, savvy negotiation and an experienced hand showing you the options available to you.

The newest Twitter Tool Twitvid.com is displayed with a few of my video's rebroadcast.

If you are considering the trade of a property this year in west Toronto, Etobicoke or Mississauga I could like to meet with you.

Buying your First Older Home - Etobicoke

So we have all seen the stats that home buyers are now beginning their home buying experience on line. That makes sense. But what happens when that home buying process starts in the fall and then runs for a 6 month period into the next spring?

So lets recap the chain of events;

• 50 - 60 homes viewed.
• 4 different multiple offers, winning in the final competition only.
• Two separate home inspections.
• Declined to remove conditions on one property.
• Continued with the same Buyer's Agent
• Stayed with the initial budget.
• Attended with Buyer at Lawyer's Office on closing
• Scored a CBC Interview!
• Willing to provide a video testimonial.

If you are a First Time Buyer or a seasoned Real Estate Investor, possibly you are single and seeking your own place then check out our Buyers Guide, for information that will be useful in your home purchase journey.

Don't be rushed, don't feel that you are being pushed. A successful home search is concluded when you have seen all your available choices. Then together we will work on a market comparison of Home Values to ascertain that we are making a sound financial decision.

David Pylyp can be reached at 647 218 2414 or through his office at 905 361 3387.

What rock have you been hiding under Toronto?

##Subject## MLS

##Feedback##

DAVID: RE YOUR WEBSITE AND MLS ACCESS. I'M NOT SURE WHAT ROCK YOU'VE BEEN LIVING UNDER BUT MLS ACCESS TO ALL LISTINGS INCLUDING DETAILED INFO ON PROPERTIES THROUGHOUT CANADA HAS BEEN AVAILABLE TO THE PUBIC FOR SOME TIME NOW.

So... The end is nigh. The flood gates of Internet information are open and there will be no need for anyone. You can be your own plumber, your own dentist, your own seamstress, your own tailor. There are books and sites for everything.

Knowledge is a dangerous curse. Just because we know "IT" we assume that everyone else does also. Hence the phrase common sense.

But searching any address today, on the internet will deliver the previous photo stream of pictures that reference this property. You know, the pictures they took with the garbage cans out front, Ted will deliver the local scenes, and Google earth will provide the 3D perspective and additional pictures. You will also find every private for sale vendor that ever "tried" to sell the house, prior to selecting a Realtor and their pictures online. FSBO sites exchange photo's and listing to cross populate their sites and embellish their success. MLS.ca serves the membership and provides an advertising feature / service to its (Realtor) members.

When you are listing a property, I am requested to collect photo ID, as you are making a financial transaction and in compliance with FINTRAC and PIPEDA we collect and record these details. Given that the average property is $350 to $400 thousand, that seems prudent.

Now, you are at work, you have a chance to surf for a few minutes you are looking at neighbourhoods, schools, amenities, the community itself, sports associations for the kids, neighbourhood watch information for crime stats and safety. The internet will provide all these details for you in a Google search. All of it. The results most times will be; the most recent, sometimes the oldest, occasionally a blatant lie or advertorial or just general propoganda that someone has posted.

The MLS system is much the same way. For the most part listings are accurate but sometime deals that have fallen through, or sold conditionally stay for years, cluttering the information stream with what is vital and timely information. You as the Seller, (Vendor) of the home have the choice of complete control to decide about internet denial, no posting online at all, the restriction of your address or a complete and full posting.

What do I have? I have the Key. I have the experience translator module that you lack. I have looked at these houses while they were for sale and when they sold. I have the sold information and the days on market that reflect those values. You and I, together will examine what has recently sold (IE the last 90 days not in the last 4 years) so that you have the comfort to go forward with confidence that you are making a sound financial decision. Your bank will verify your conclusions in their appraisal; Your Lawyer will check and enforce the details of your real estate contract. You home inspector will help you understand future maintenance issues and concerns. We are all here to answer your questions.

When you call a plumber, you hired a tradesman who has the tools and experience to solve your situation. By making observations about your circumstance and predicament, [he] can recommend an instant and painless solution. You always have the option of Buying a Book online, installing a How to Program and Trying yourself, Buying the correct tools and knowing how to use them. My tool box is available to you at anytime. I have a financial services background and 22 years or residential resale experience.

Many real estate agents in Toronto are running mashup's of the MLS.ca site integrated with Google Mapping. Great application, But, they are permitted only to advertise those brokers that permit or share data, display those listings that are released to MLS.ca and those may be sold or sold conditionally. It you want a true Market Tracker, You need to sign up here. On a daily basis I see claims about the newest best, most recent, instant riches programs. You too? I am confidant as the internet grows there will be a continuing and dramatic increase in the number of interpreters and translators needed for real estate information in Toronto.

What rock have I been hiding under? Sorry, I was reading pages on the internet. I will be here when you want sold data or factual explanations of a real estate transaction in the GTA Toronto.

What are your thoughts?

Going into the fall, Living in Toronto

As we enjoy the last few weeks of summer weather, the kids are gathering their effects and looking at going back to school. Thoughts have returned to the Toronto Real Estate Market and the lack of suitably priced homes.

The listing you have looked at on line and at Open Houses really appear tired and over priced; yet when something tasty comes along it seems that buyers are lined up and multiple offers ensue.

You, yourself will need professional marketing, presentation, correct pricing and transaction management from a full service group of realtors, like my team.

Google is your friend on Prezi

If we are truly are the internet generation that is embracing technology, there should be more presentations like this to market your home, reach more prospective Buyers and promote your listing. If you are not receiving this type of marketing you need to ask why not?

The fall market is expected to be brisk as we all speculate on future values. There will be deals out there. Give me a call at 647 218 2414

The Fixed Rate vs Variable Rate Conundrum

At Astrum we have noticed an increase in the number of questions being asked about the future direction of interest rates. Clients want to know how to decipher the relevant information in order to understand their choices and what risks are associated with a variable rate mortgage compared to a fixed rate mortgage. This article looks at how short term interest rates impact variable rate mortgages and, at the other end of the scale, how long term interest rates impact fixed rate mortgages.

With the move in the bank’s prime interest rate upward for 2 months in a row, mortgage consumers are looking at whether they should choose a fixed rate mortgage or a variable rate mortgage.

Fixed rates, which are tied to the interest rate paid on the Government of Canada 5 year bond, have softened resulting in some minor downward changes in 5 year term fixed interest rates for closed mortgages. In fact, we are seeing small declines in the 5 year fixed interest rates with current offerings at 3.79% for both purchases and re-financing. A couple of months ago we had only one lender at 3.79% with the majority above 4%.

Variable interest rates are directly tied to the bank’s prime interest rate, currently at 2.75%. The one consistent prediction by both economists and forecasters is the bank’s prime interest rate is rising and, in the long term, will continue to do so. Bank of Montreal is forecasting an additional 0.25% increase before the end of 2010, plus another 1.5% increase for 2011 taking the bank’s prime interest rate to 4.5%. The Bank of Montreal then forecasts the rise in interest rates to continue with the bank’s prime interest rate reaching 6% in 2015. Therefore using Astrum’s prime minus 0.9% 3 year variable interest rate mortgage as an example, the borrowing cost would be 5.1% in 2015.

What does this mean to a borrower? Well, today you can obtain a 3 year term variable interest rate closed mortgage at prime minus 0.9% or 1.85%. For example, using a $250,000 mortgage with a 25 year amortization period the monthly payments equal $1,040.62. In 2015 assuming the same mortgage is available, with a forecasted bank prime interest rate of 6.0% minus 0.9% equaling 5.1%, the monthly payments are $1,468.28. This is an increase of $427.66 per month or an increase of 41% in the monthly payment.

You might ask, won’t the 5 year term fixed interest rate move up as well? Yes, the 5 year term interest rate will move up, but not by the same incremental amount as the bank’s prime interest rate. In July of this year, the major Canadian banks issued independent forecasts which showed an average increase in the Bank of Canada overnight rate to 2.57% which correlates to the bank’s prime interest rate increasing from today’s current rate of 2.75% to the 4.5% - 4.75% range by the end of 2011. During the same time period, the same banks forecast the interest paid on the 5 year Government of Canada bond to rise 1.06% to 3.59% which equates to a 5 year term mortgage rate of 4.75% - 5.00% compared to a 5 year term fixed mortgage rate of 3.79% - 4.09% today. The key point here is the bank’s prime interest rate is forecast to increase nearly 2% by the end of 2011 while, during the same time frame the 5 year term mortgage rate is forecast to increase 1.25%. If you accept the general concept put forward by this forecast, the interest rate difference between the variable rate mortgage and the fixed rate mortgage is becoming less and less.

As stated by some economists and financial analysts, the variable rate mortgage is an excellent product during a declining interest rate cycle, but during an increasing interest rate cycle the fixed mortgage interest rate may offer some advantageous benefits. At Astrum we have the expertise and resources to respond to your questions which will assist you make the decision that will allow you to sleep at night.

David Pylyp You can click here for the lowest rates I have seen recently from a virtual lender. The clients that purchase or sell with me ( available to the Purchaser's of my listings) has a huge competitive difference if you are buying a property and can save an additional $500 per month on interest costs alone.

This is limited to my clients only. Would you like to become my client? Give me call at 647 218 2414 or email David@davidpylyp.com

Never let a good idea go to waste!

I read today that the Youtube commercial and Social Media explosion over the performance of Isaiah Mustafa had doubled the sales for Old Spice.

I can only hope that the same attention will befall my listings and benefit the Sellers that I work with in the Toronto West GTA that is Etobicoke to Oakville.

If you would like your property marketed with creativity and determination then give me a call at 905 361 3387.

David@DavidPylyp.com

A Survey About Owning your condo

We Want to Learn From Condo Owners

Across Ontario, condominium ownership is becoming increasingly popular.

Owning a condo means you have different rights and responsibilities than if you own a house or rent.

Our online condo survey asks condo owners across Ontario to share their experiences about condo buying, maintenance issues, boards of directors, and other areas.

This survey also gives condo owners valuable information about their rights and responsibilities so they can make informed condo-buying choices.

Visit www.ontario.ca/condos to share your experiences.

Did you as a consumer Understand what you were buying? Are you happy with your Board of Directors? Incredible that with the Building industry, real estate agents and lawyers all have some form of hand out for your inclusion in this process.

The Biggest Problem? No one does their homework [incomplete reading assignments] then they are shocked at Phantom Mortgage Costs; Development Fees and Building Managements selection of the initial Board of Directors and the most exciting Adherence to the Rules and Regulations.

Buying a Condo

Audrey Loeb is an accomplished Lawyer who published this pamphlet years ago. I have been handing out this 16 page booklet on my website for some time as a PDF file. Maybe Our Ontario government could just add a link to this wonderful publication. Lets Save a little money!

If you are looking for an investment condo in Toronto west ..... Give me a call

Credit report request? DONT LET THESE 'LANDLORDS' FOOL YOU

While looking through my Google Alerts for Landlord information in Toronto and updates I was drawn to this advertorial (RANT) on Kijiji (an internet advertising site)

THERE IS ABSOLUTELY NO REASON FOR AN OWNER OF A HOUSE TO REQUEST YOUR CREDIT REPORT - ALSO KNOWN AS YOUR LIFE.

It is an EXTREMELY personal file and is only allowed to be requested by authorized individuals, i.e, you have a license to be giving loans/lines of credit which require a credit check or you are employed by a company that involves credit.

If anyone feels uncomfortable with this request, no problem. By law, this is not a reason to refuse tenancy if there is no lease being signed. Instead, you may provide a letter from your bank or manager / supervisor / boss/ current landlord stating and validating your dependability as well as your rent-history.

On an extremely unprofessional but required note : screw you guys. Just because you saw one idiot stating that they needed it, does not mean you do. You most likely don't know how to READ a credit report and attribute the credit score with a tenants capability to produce rent. Shame on you, dogs. As if you're not already over-charging tenants, you feel you have the authority to impose yourself like this as well.

Now, Lets assume that you are the landlord, Do you feel that you are entitled to ask if they have a) employment b) income c) credit history in your selection of a tenant?

If You were the bank lending money on a mortgage, Is it any different that you expect to be repaid and are seeking confirmation of that capacity?

Now, we will have Tenants (who read somewhere something online) that believe the ranting of someone who writes these missives, to be the law.

The internet is a great thing but some of the posting need to be thought about with common sense. But then again, as my Father often remarked if Sense was common everyone would have it. What are your thoughts?

Would you take a tenant without a Credit Bureau Report? Would you rent merely on a hand shake. These are all great questions for my ongoing series with Larry the Landlord. Have a place that needs a tenant I can help.

A balanced market Wil time to shop

http://www.yourhome.ca/homes/realestate/article/830967--weisleder-balanced-market-favours-buyers

I agree

http://www.theglobeandmail.com/globe-investor/investment-ideas/features/lets-talk-investing/your-home-isnt-an-investment/article1592178/

Fighting the HST in Toronto Real Estate

Save the HST on Toronto GTA Real Estate

When they say that there are only two truisms in Life; Death and Taxes, let me at least help you with one. The Toronto Home HST TAX Buster!

During the malaise of Summer 2010 and to help with seemingly unmotivated buyers, we are prepared to absorb the entire HST portion of your real estate transaction as it pertains to the sale of your home.

This is intended to apply to Resale Homes.

We will establish a reasonable asking Price. Promotion, Provide you with a property video that will be seen by hundreds of inquiring shoppers on Realtor.com, MLS.ca and featured on my sites. Dozens of Photo's in addition to the limited photo stream that is available on MLS.ca, Adverting on myriad related real estate sites to get viewership and discovery, Presentation; the assistance of a professional home stager for the initial consultation. Most importantly, Negotiation. I will do my best to inform you of ALL the options that are available to you during the marketing period, especially during the offer and through transaction management.

How to avoid a Bad Romance in Real Estate

http://www.youtube.com/watch?v=4sYUxpvAZAc

How will your home be presented to the Buying Public online? With Google streetview so that buyers can place the homes photo's in context to neighbours and neighbourhood, A Picassa Slide presentation of the interior photo's and street that didn't make it into the top 9 with the Toronto Real Estate Board but still need to be seen, Video to place it all in a framed package. keyword advertising that is product specific to whom you are seeking as a buyer.

Bungalow in Etobicoke for Sale Sample

http://livingintoronto.housingstorm.com/2010/05/24/property-showcase-bungalow-on-nineteenth/

There will be a surge of homes coming off the market as listings expired at the end of June and Sellers need to re evaluate the Marketing, Promotion and Pricing of their homes. These listings will be competition for your buyer. How will we attract them? Marketing and Promotion do matter.

David Pylyp Listing Presentation What do I actually do?

http://www.youtube.com/watch?v=fGrhUlFl_-k

Interest Rate Specials are available from Astrum at Prime Minus 90 Get the current rates here;

http://www.davidpylyp.com/homeresources.cfm?advertiserid=1206 Your participation could save you $6 - $9,000 over the course of five years in a mortgage. This savings program is available to my clients only.

Thats not all, If you are selling.... You will need legal services. Stan Gelman, Lawyer, Mississauga, has graciously offered a Summer Sizzler of his own for all new deals closing in July and August 2010 of $400 per sale plus disbursements. Your own situation may cause this to change slightly.

Have a look at Stan Gelman's Land Transfer Tax Calculator to see how much Land Transfer Tax is payable on your next purchase. http://www.davidpylyp.com/ShowResources.cfm?Pageid=52214&TypeOfPage=6

To Contact David Pylyp Call 905 361 3387 or email david@davidpylyp.com

I invite you to call me over for a coffee and ask whatever questions you like. Its not as important to know what I know, Its more important for you to know that I care.

Lets start with the easy part

Call David Pylyp

RE/MAX Realty Specialists Inc.,

905 361 3387 or cell 647 218 2414

If this is not the type of marketing and service you are receiving, what are you getting?

Google David Pylyp Toronto yourself

Canada -- a great place to retire!

Canada Day is our annual opportunity to proudly celebrate Canada’s history and heritage and our achievements as a nation. On that happy holiday, many of us will likely pause for a moment to consider why living in Canada and being a Canadian is so great. Each of us will have our own reasons and, of course, there will be many we all share. One shared reason you may consider -

Canada is a great place to retire!

Maybe that’s because a comfortable retirement is something we take for granted but when you look at the many benefits available to Canadian retirees – benefits not available to retirees in many other countries – it’s clear we have much to celebrate.

 All wage earning and self-employed Canadians are eligible to receive either Canada Pension Plan or the Québec Pension Plan (CPP/QPP) retirement benefits, which are indexed for inflation. There are also CPP/QPP survivor and dependents’ benefits as well as a lump sum death benefit. A couple can choose to share CPP/QPP benefits for tax purposes.

 Canadians can take advantage of the tax-deferred, compound growth benefits of Registered Retirement Savings Plans (RRSPs) and Registered Retirement Income Funds (RRIFs). Any Canadian resident who receives periodic payments from a registered pension plan can potentially reduce their taxes by splitting pension income with a spouse/common-law partner. Those over age 65 who receive RRIF income are also eligible for the federal and provincial Pension Income Credit and can allocate up to 50% of their RRIF income to a spouse for tax purposes.

 Those who have lived in Canada for at least 40 years after age 18 will receive the full monthly Old Age Security (OAS) benefit, which is indexed for inflation. Canadian residents who have lived in Canada for at least 10 years after age 18 will receive a prorated OAS monthly payment.

 Seniors with a lower income may be eligible for the Guaranteed Income Supplement (GIS), a tax-free monthly payment, which is indexed for inflation.

 Canadians can invest in Tax-free Savings Accounts (TFSAs) that generate tax-free investment income that does not affect income-tested federal benefits.

 Every tax-eligible Canadian gets the Basic Personal Tax Credit and those over age 65 also receive an Age Credit. Other tax credits that can benefit retirees include the Medical

Expense Credit, the Dependent Credit, the Disability Credit, and the Caregivers Credit. There are also generous tax credits for those making charitable donations.

 And, of course, Canadian retirees have access to a wide range of health care services at little or no direct cost.

Yes, Canada is a great place to retire! But to make your retirement all it can be, you need a plan that includes retirement income from other sources such as your company or personal pension plan and your own investments. Your professional advisor can help make sure your first day of retirement is as much a cause for celebration as the first day of July.

John Scholl CLU,CGA, B. Mathematics,

Consultant - Investors Group Financial Services Inc.

& Investors Group Insurances Services Inc.

Case dismissed against sellers of house with hidden defects

Back in April, 2006, Walter and Shelley Cotton signed an agreement to buy their dream home in Brantford. After closing, the house turned out to be the worst nightmare they could have imagined, requiring them to spend more than $85,000 to bring it up to building code.

Before the Cottons signed the offer to purchase, they reviewed the Sellers Property Information Statement (SPIS) provided by the sellers, Gary, Laurie and Carey Monahan.

The Cottons and their agent went over each question and answer thoroughly. The form disclosed that extensive renovations had been done to the house by the sellers without any building permit.

Finding themselves in the midst of a “hot” real estate market, the Cottons instructed their real estate agent to submit an unconditional offer without a home inspection clause — despite the agent’s advice to the contrary.

It was only after the transaction closed that the buyers conducted a home inspection and an electrical safety inspection, both of which revealed numerous problems.

Eventually, the Cottons had to gut a significant portion of the house so repairs could be done. The house, they said, was “in chaos” for the next six months.

The Cottons then sued the Monahans for the cost of the repairs, alleging that the Monahans actively concealed the many hidden defects in the house. The defence was that the Monahans did not actively conceal anything that they knew to be a defect, that they honestly answered the questions in the SPIS, and that the buyers failed to exercise due diligence by conducting a home inspection before committing themselves to the purchase.

The trial of the case took 10 days last December and January. My own estimate of the combined legal fees involved for a court case and trial of this length would be well north of $100,000.

Justice Harrison Arrell released his 19-page decision in late April. He began his analysis with the often-quoted words of the late professor (and subsequently Chief Justice) Bora Laskin in a 1960 Law Society lecture, when he said, “Absent fraud, mistake or misrepresentation, a purchaser takes existing property as he finds it . . . unless he protects himself by contract terms.”

Arrell also quoted a 1979 decision of the Ontario Court of Appeal which stated that a seller who is aware of a hidden (or latent) defect in a resale house has an obligation to disclose it to the purchaser only if it makes the house dangerous or unfit for habitation. Otherwise, a seller is not obligated to disclose either hidden or obvious defects in a house.

To be successful in a lawsuit, purchasers like the Cottons have to prove that there are hidden defects in a property making it dangerous or unliveable, and that the defects were known to the sellers who purposely concealed them — or that the sellers recklessly disregarded the truth or falseness of any representations made about known defects.

The judge dismissed the Cottons’ claim. He ruled that the defects in the house were not known to the sellers and that there was no evidence that the Monahans purposely or knowingly concealed any defects. He also decided that the sellers accurately and truthfully filled out the questions in the SPIS form.

This case is just the latest in a long string of recent cases which would never have gone to court but for the existence of the SPIS form.

In my opinion, the SPIS form, which is published and promoted by the Ontario Real Estate Association, is probably the single most frequent cause of Ontario real estate litigation. It poses huge, unjustified risks to buyers and sellers of real estate.

Two lessons emerge from the Cotton v. Monahan case:

First, unless you enjoy expensive court battles, never sign a Seller Property Information Statement. Agents who encourage their use may not be protecting the best interests of their clients.

And second, buying a house without conducting a professional home inspection is a very risky business indeed.

---

Bob Aaron is a Toronto real estate lawyer. He can be reached by email at bob@aaron.ca, phone 416-364-9366 or fax 416-364-3818. Visit the column archives at http://aaron.ca/columns/toronto-star-index.htm for articles on this and other topics.

Expired Listing Solutions Toronto - Oakville

Expired Listing Solutions for Toronto Real Estate

If your home has expired from the Toronto MLS system; You need to examine the potential reasons.

Did you receive the advice of a professional home stager?

Getting your home ready for sale can include a touch up of paint, a rebroadloom, a general declutter or actually engaging a professional home stager to prepare your home for sale. The only impression that your home can make is the first impression.

We will provide the services of a stager for you for the initial consultation.

You need to understand the Current markets conditions.

Are you pricing your home based on past sales from a year ago? The market has shifted into a Buyer's Market and people need to price their property to attract Buyers. Some neighbourhoods have adjusted more than others according to demand. The Market Watch Report is available monthly to review general market trends.

Of the almost 20 million Canadian internet users, 85% of those looking for a home use the internet. Prospective buyers who visit these various websites and want more information on listings can secure an immediate e-mail display of the actual listing and virtual tour. Shoppers can print the Featured Listing Page. We also include provide a LINK to view a video FLASH presentation.

http://www.youtube.com/watch?v=4sYUxpvAZAc

I welcome your questions about online marketing for your home, that actually present your home to more potential shoppers. By using innovative high IMPACT marketing on multiple websites, Buyers that are not necesssarily local to our market will have an opportunity to preview your listing.

Contact David Pylyp
RE/MAX Realty Specialists Inc.,
905 361 3387 647 218 2414


If this is not the type of Marketing and Promotion you are receiving; What are you getting?
Google David Pylyp Toronto Professional and Persistent in Getting things done