Friday, November 25, 2011

What is your take on 2012?

What is your plan for 2012... Have you talked about what to do? Will you economize or spend heartily through this Christmas season?

Are the interest rates even an issue given that they will hold firm at 2.0% +/- Var and 3.15% F?

I was watching the coverage of the Black Friday shopping line ups and cross border time delays and thought, so many, taking a day off to shop for bargains, yet there seem to be so many sales here in Mississauga and Toronto.

The Apple store is always busy So lets take that one out of the equation, but, our own Rodeo Drive in Mississauga and the Big Box Stores that surround Mavis and Brittania, Brittania at McLaughlan is always busy.

The cranes around Toronto and Mississauga indicate the confidence others have in our economy, academia, business and long term growth. We continue to be a destination for cash, safe haven for the tired and oppressed and even our own citizens that made claims #occupyToronto of Corporate Greed and Tyranny. Yet it's those very same corporations that employ the majority of the work force. So lets strip a few issues further down and we come to the issue of Affordable Housing. This is indeed being addressed with Bill 140 and the Affordable Housing Act 2011 that comes into effect Jan 1st 2012.

Why is no one discussing this. I have emailed a few reporters but they seem more interested to paraphrase a news release than research a story.

Are you house shopping in 2012? New updated PRE Listing Kits are available if you are screening agents to represent your property next year. Accordingly I have also updated the Buyer Home Purchase Packages for Toronto and Mississauga; You need merely to call or email and I 'll get one to you.

Our own situation is a little different. We may be graced with a job lock out at the City of Toronto, and my BFF may become my Assistant instead. This lockout will cause financial drain to many families notwithstanding the impact to City Services. In favour or against is academic. The reality is budgeting cashflow. The City needs to balance its budgets as household's do.

Our Festivities this year might be modest because of the uncertainty of next years income; I do not relish the Rob Ford's lump of Coal in my Christmas Stocking.

How are you planning for 2012?

Friday, November 11, 2011

Sellers Property Disclosure with Barry Lebow

Very proud to have some of my content for Toronto Real Estate and the Seller's Disclosure (SPIS) picked up by Bob Aaron and the Toronto Star. article posted here;

Few real estate experts know more about the Ontario disclosure statement than Barry Lebow, who has testified as an expert witness in as many as 600 trials involving real estate issues.

In a video Lebow posted on YouTube, this question was posed to him: If a client asked you “should I or should I not sign a Seller Property Information Statement,” what would your definitive answer be? Lebow’s one-word response: No.

In the same video, Lebow says, “If I had my choice there would only be four questions on an SPIS form.”

Lebow’s suggested questions for sellers to answer are:

Is there anything in your home that you are aware of that could negatively affect my buying decision?

Is there anything on or below the surface of your land that could negatively impact my buying decision?

Is there anything within the neighbourhood either in place or pending that could negatively affect my buying decision? Lebow explained the concerns referred to in this question would be issues like whether a pedophile lives in the neighbourhood, or whether there are any area plans for new developments like a new highway, airport runway or recycling plant.

Is there anything about your house that would prevent me from getting a mortgage or insurance?

Using these four simple questions during a listing presentation [Seller Interview] solves a myriad of issues that can impede a Buyer from obtaining a mortgage; simple issues like water and electricity nullify an Occupancy Permit. Maybe its the additional cost of removing all the knob and tube wiring. If you can't live in it, you can't finance the purchase. If you can't get insurance you cannot get a mortgage.

Link to Video I am personally pleased that we are finally making a stand on a document that was poorly crafted and hoisted upon unsophisticated. Thank you to Bob Aaron and Barry Lebow for your influence.

Would you answer those four questions?

Friday, November 4, 2011

She's on Vacation Lets sell it!

She's on Vacation.... visiting her Mom So..... You May as well sell the house right?
The Matrimonial Home is treated as a distinct Asset under the Family Law Act. The Act says there is spousal equality that deals with the orderly and equitable disposition of spousal affairs after the marriage has broken down.

The FLA stipulates that the full value of the matrimonial home must be shared even if you received the house as an inheritance, owned the home prior to the marriage or received it as a gift.

So ... We may need to sit down and present the offer twice; once to each spouse. You could and should seek independent legal advice. (ILA) If your spouse refuses to sell; you may need to obtain a Court Order to force the sale.

When listing a property ALL registered owners need to sign the Listing Agreement, the Agreement of Purchase and Sale and subsequent related documents. If only one spouse is shown on title; we still need to obtain a Consent to the Sale, even if the property is not the matrimonial home.

Under the Family Law Act a spouses are "persons" who are married to each other. In Ontario this includes same sex couples where were married in a legal ceremony. Common Law Situations are a touch different and the spouse may be entitled to support payments and repayments for contributions to the property. Yup Get a Lawyer.

All of these articles can be found on
Need to sell or Want to sell? I am available at 647 218 2414