Will you pay the $500 Basement Apartment Fee?

The City of Mississauga has finally made a response to Bill 140 and the affordable Housing Act.  As of January 2, 2014, legal second units must have a City of Mississauga licence per City By-law 204-13 

The Mississauga City Council approved a plan to permit second units on July 3, 2013. The plan includes official plan policies, zoning regulations and licensing requirements. It will be in full force in January 2014. 

‘Second units’ are self-contained apartments within existing homes. They have their own kitchen facilities, a bathroom, a bedroom and sometimes have a door that separates the unit from the rest of the home. They are often called basement apartments, in-law suites or secondary suites. 

The Second Unit Implementation Strategy includes: 
• Official Plan policies permitting second units in detached, and semi-detached homes as well as townhouses 
• Zoning By-law regulations including parking and distance from the property lines for entrances and stairs 
• A licensing program to ensure zoning, building and fire codes, as well as property standards, are met 
• An Education Program that will include information materials and sessions to help the public understand what is required for a legal second unit in the City and 
• Partnerships with professional and organizations interested in second units 

An existing second unit will only be legal if it complies with the official plan and zoning by-law, meets building and fire codes, and there is a license for the unit. 

The initial second unit license will cost $500 for owner-occupied properties and $1,000 for investment properties . The annual license renewal will cost 50% of these values. 

Any person who is charged with an offence under this By-law and found guilty is liable to a fine of not more than $25,000 or $50,000 (for corporations).
http://www7.mississauga.ca/documents/ByLaws/second_unit_licensing.pdf

Back Grounder  City of Mississauga Feb 25, 2013.

http://www5.mississauga.ca/agendas/planning/2013/02_25_13/Item01HousingChoices.pdf

http://www.mississauga.ca/portal/residents/housingchoicesfaq;jsessionid=QWO1TNPT5FJELTRPH3XT44WOF25W2PW0?paf_gear_id=3700008&itemId=114600169n&action=faqAnswer

Keeping it or Selling it?

https://plus.google.com/u/0/+DavidPylypToronto/about

How Lazy is your Agent?

You want your home sold.

You want Buyers to see the value of your home. You negotiate aggressively for the best commission deal. 

Buyers want Pictures, Video, Floorplans and details. Here is a SAMPLE ad of mine from earlier in 2013 for a condo at Humber Bay Shore, Toronto, ON.

Your Pied a Terre in the City.
A newly built and Freshly Painted Two bedroom Suite with two spacious bathroom at the luxurious Park Lake Residences, located at Lake Shore and Ellis Ave., right at Sunnyside Beach.
This building is a two tower structure with a centre podium that houses an open air terrace for BBQ's and Lounging. Sight lines are to Humber Bay Shore, the bay, The Humber River Bridge, The North Views include dramatic vista of High Park. There is a strong management team in place here with a Large Reserve in compliance with the Reserve Fund Audit. All parking is above grade with 4 levels for resident garage parking and a main floor open air garage for visitors.  No Flooding!
On the #TTC The access to transit is fed from the #80 #TTC Queensway Bus to Keele Subway, a Lake Shore EXPRESS #508 bus to Union Station and a 24 hour transit line alone Queensway / Queen Street ensures prompt and continuous access.
UPGRADES include Hardwood Floors, Stainless Steel Hardware and Stainless Steel Appliances, Fridge, Stove, Microwave, Built in Dishwasher PLUS Stackable Washer and Dryer. Kitchen has a Granite Counter top, under mounted Cupboard lighting and a subway tile ceramic back splash. All existing window coverings remain with the property. Bathrooms include marble wall trim, marble or ceramic floors and upgraded plumbing.
This Suite measures 860 square feet as per the builders floor plan. (Available)
Property Brochure left on site. 
Is the Top Picture  11 x 17 two sided  Next panel provides interiors.

Additional Property Details http://davidpylyp.com/search/feature.cfm?ml_num=W2551722   Link to my site and Financing details.  This will now appear as unavailable.
Virtual Tour on Property http://www.youtube.com/watch?v=gwaI5mCTiw4&feature=youtu.be
Additional Property Pictures https://picasaweb.google.com/109283965469179719942/February4201303#slideshow/5841275256762724242
Realtor.ca Search W2551722
This property is available for showings and occupancy Effective Feb 05th, 2013 (This listing will not appear at this site)

Do I Sound Grumpy?  Yes!  Agents claim to do the same job but do not. Sellers are disappointed. Agents are taking pictures with iphones and not a series but only one or two. Video with an ipad...  Agents are not producing booklets with closing calculations for your property because they cannot afford to. There are now in excess of 40,000 agents competing for your business in the Greater Toronto Area. I am not going to Markham, Thornhill, Richmond Hill, Vaughan or Scarborough. I mean them no disrespect.  I serve within a half hour of the QEW at 427.

How much would you have received for your property with professional marketing?  A colour brochure, video and property take aways for Buyers to "THINK ABOUT IT" 

My job is to attract as many prospects as possible to your property in a reasonable length of time.  Is it time to call me?   647 218 2414

What views would you like?

Let's make a few assumptions
We are aging
We are considering retirement.
One of you may have already retired.
We [will] need single storey living.
We [will] require the services of Health Care Professionals and Hospitals.
We want the community of living in the city.
You have no aspirations for a country estate with a mile long driveway.



I have met a number of SAVVY mature recently retired couples who are carefully selecting where they would like to spend their retirement years, something that gives them a jumping off point for travel and adventures yet is secured and locked in their absence. You would like to buy it now, rent it until you need it for yourself. Then clean and fix what you need with the perfect amenities and views. This now begs;  What is the View that you would like?

The last condo purchase may have been to be near work, a trendy loft with dramatic second storey views or a Pied de Terre in the City's core.   This time you want the subway tiles in the bathroom, with a jetted tub, The marble in the kitchen with an eating area that isn't actually in the Living Room.  Two separate non adjacent bedrooms that are served by two full bathrooms.  Your list is very specific as to trims and finishes, ease of care,  

Unless you are well heeled financially for retiring in place, maintaining a home in Toronto is becoming expensive and impractical. We can make the old home work for us by adding / improving the Kitchens and Bathrooms, modernize, the stair climbing becomes a challenge. Why is laundry in the basement? An elevator or Stair Slide is the answer.  

But If you are doing all these things,  you and I need to get together to find you a great Lake or Park Views along Humber Bay Shore...   Call me   647 218 2414

Islington Village - Ruby Lang and Cormier Heights

Islington Village by Dunpar Homes is located at Evans Avenue and Islington Avenue wrapping behind and beside the south service road wall to the QEW. Homes are freehold town houses with double car garage that is in tandem. There is a condominium corporation for management of common elements, landscaping and garbage removal. All addresses are Ruby Lang, Cormier Heights, with the south exposure on Evans Ave and the North on Oxford Street.

There are 176 units in total. All units are built on slab, main level is upstairs, second floor is two bedrooms, third floor is master bedroom with juliette balcony. All units are 1950 square feet. First Occupied in 2008 this complex has had enormous success. 

Ping Me for Additional details or availability.

This week's Featured Home

Canada's Housing Market Bust

Why is the Canadian [Toronto] real estate Market so resilient? How is it pushing itself every month with strong numbers in detached home sales. Even with LOUD warning bells from Flaherty on increased Household debt, Condo's continue at an annual pace of approximately 25,000 units. Houses Prices Rocket as the Number of available units dwindle. Instead, Home buyers are migrating further into the 905 while others steadfastly ride the elevator higher. 

We don't have financial silliness in Canada;
No NINJA loans.   No Income No Job  No Assets   NINJA
Interest only payments with a Balloon payment at 5 years - Why?   Tax deductibility
Borrowers Need to Qualify (apply for the debt) and demonstrate the ability to repay
Canada is a Full Recourse Lender - They sue you and take ALL you stuff.

Yes, Debt levels are rising; We are using our home as security for lines of Credit [Heloc] to purchase and pay for tuitions, weddings, divorces and finally that Porsche 911 or retirement savings.

Our house is earning 8 - 10% annually while inflation has stayed at 3.5%.  My bank however pays me a paltry 1.5 - 2% annually for locking my money.

The US housing crisis that occurred a few years ago will be a data point that analysts, economists and the public will remember for decades as it serves as a reminder of how precipitous the market can get when we sign up for more than we can actually afford. Other countries experienced this same economic downfall as well, but a study published by Bank Credit Analyst (BCA) Research shows that Canada did not fall victim to the housing bust that affected the U.S. While the US debt to income ratio fell as much as 30 percent beginning around 2006 until now, Canada’s has been on the rise since 1990 and has already hit more than 160 percent.
Why the disparity in income to debt between the two countries? Canada has safeguards against some of the factors that fueled the flames of the US housing market crash, such as its government requiring mortgage insurance when home owners are being considered for a loan. There are also requirements for credit checks and a minimum down payment in order to ensure that interested home owners have a proven history of handling and paying down debt, as well as that they have enough cash flow to handle the responsibilities of paying a mortgage. The US has these forms of checks and balances as well, but in past years, mortgages were being approved at a far less stringent rate and often to people who could not reasonably take on that amount of debt. http://agbeat.com/economic-news/canadas-housing-market-didnt-crash-americas/

Toronto may be in its infancy as a City and all the squabbling about expansion, but the land is already built out.  We have a lake to the south and the periphery is the 905. Residents continue to arrive for safe haven, employment, education and most importantly medical services as we age.

I see seniors selecting the condo with a view where they want to spend their retirement years. They buy it and rent it, until they are ready to move in. This adds to their nest egg. Are you ready to join in? Call me.   There are incredible choices at Humber Bay Shore.

Toronto Home Prices Hit Glass Ceiling

There seems to be no ceiling at all to the Home Prices.

Yet condo sales have actually declined since 2009;  The number of units sold in the 905 vs the 416 implies an exodus of shoppers but that may merely be a reflection of what can be purchased within commuting distance.

Three times as many homes are sold in the 905 at prices competing with Semi's in the City Center.   

This has led to the largest price gap on record between the various types of new homes. And it’s a dramatically upward price trend that shows no sign of easing, as new detached homes become ever more scarce across the GTA.
What can be done? Not much, unless you’re rewriting policy. The solution is evolution. The province’s push for intensification has triggered fundamental changes in the housing market and we will all need to adapt to this new environment.
Condominiums are becoming a more attractive — and certainly more affordable — housing option within this environment, particularly for first-time buyers.  http://read.thestar.com/?origref=?origref=#!/article/5269ee92cb00716fe017e9a4-toronto-detached-home-prices-hit-record-as-condo-gap-widens

George Carras RealNet talks about the first time buyers looking at condos as an alternative. The Millennials are not the home shoppers for condos or investment condos. [they are credit impaired with debt, student loans and a lack of FULL TIME jobs that pay sufficiently to qualify for mortgage debt.]  This market is being absorbed by the ZOOMERS who are:

• Looking at downsizing eventually and buying a condo to invest till they are ready.
• The Zoomers and CARP participants are being very careful and selective in their purchases. 
• Selecting condos because Bungalows are just out of reach financially.

Which category applies to you?

Will you be buying a condo to prepare for your retirement?

Can I help you plan your purchase?

You Can't hit a home run every time!

Roberto Alomar Photo Cred Spokeo.com 

We all want those plum commissions for sales of $700k to 800 thousand dollars. While out door knocking, I happened upon a nice fellow who did want to sell his Etobicoke townhouse. 

I had the grande tour; made some housekeeping and staging suggestions and prepared for the big question. 

How much is your commission rate?

I responded with a variety of options to select what might be suitable; The Plus, Premium and Prestige Commission Programs.  Was there another property involved? Was there a purchase on the other side? Was there another "end" somewhere to soften the commission concession.

No matter how I responded I seemed to frustrate the seller. Then he said 

"You can't hit a home run with every deal."

We all talk about justifying our value proposition, but unless the Seller can see tangible value our real estate commission rate has become a commodity. We need to be competitive and intune with our local market.

My conclusion is that it is better to earn less and more often than hold out for the higher commissions in a business where everyone claims to do the same job.  Other times you may indeed be blessed with a full commission.

Sometimes you need to just keep hitting those single base hits, to load the bases and keep those runs adding up!

Photo Cred  http://img.spokeo.com/public/900-600/roberto_alomar_1993_08_19.jpg

Self Represented House Purchase

I go to Sobey's and select my grocery purchase.   I fill my cart; wait in the self checkout line, bag my own groceries, pay by card and leave.  Where was my discount?

Who started this SELF REPRESENTED Nonsense... I filled my own shopping cart at STAPLES. Now you do the paperwork but I want CASH BACK?

Try that at your Bank for a mortgage! You're doing your own appraisal? How about the dentist? Your own fillings?  When you are closing a real estate transaction; tell your lawyer you will handling FAXING and Delivering documents yourself to save on courier fees.  No, I don't want anything explained; because "We know it all! We read it online."

The people with the highest interest in the outcome of the checkout process are the very same people that self-checkout puts in charge: me! How could it not work? It's the perfect alignment of self-interest.  Of course you will be fair and want to pay market value.  Its the Perfect Storm

#BREAKING NEWS FLASH
The Seller pays the Buyers Agent for procuring an offer. Thats COMMON LAW. Sellers clear all charges and debts related to the sale of the property. That's COMMON LAW.  If you are trading in real estate and think you are capable of receiving NO service from me, whatsoever, thats fine.  

BUT...

Are you biblical?  You cannot serve two masters  - Matthew 6:24

I have a contractual obligation and agency relationship with a home owner to procure offers for sale on their property.   NOT switch sides and work to get you the best deal.

It costs you [The Buyer] nothing ... To Give me a try. Call me or http://Bit.Ly/GetDave

If you lived Here - What do you see?

33 St Charles St East, Toronto ON
CASA Condominiums

https://plus.google.com/photos/109283965469179719942/albums/5901665250956753121
PHOTO ARRAY 

What's the View like?



Would you like to be here?

Give me a call at 647 218 2414
or suggest a different criteria  http://BuyinginToronto.ca

Why do you expect me to present your offer?

Why am I presenting your offer to my Sellers?

They expected an offer presentation where we would negotiate. You sent me an email or faxed the offer.

I don't know your clients capacity, intent, top price, ability or wherewithal to conclude the transaction. If you told your clients the market is up/ down 10% They want a deal, a discount and they want to negotiate.

Let's presume the following;

• There are two offers
• Both offers are relatively equal with small differences
• One agent is in attendance.
• His Buyers are in a Horton's nearby and anxious.
• The OTHER agent sent his offer by fax.

The Seller's of the home have a strong history and attachment to the property. They have demonstrated pride of ownership, duty of care and dedication to the maintenance and upkeep. It was the curb appeal that attracted your buyers. This is the second time they have entered the real estate market in 26 years. 

The agent with the Buyers outside has an opportunity to explain their financial capacity to  close on the purchase, how much downpayment, where they work, what types of financing they are taking.  There is a deposit cheque with the offer.  He goes on to create a bond between buyer and seller by describing the family that will replace theirs on the street. The new kids that will fix the tree house and update the swing set.

The agent with the faxed / emailed offer has what?

Yes, we have the capability to send offers by email.  Sign on your ipad. Deliver Acknowledged copies of contracts electronically, instantly.

Bring 4 copies of your offer.

Real Estate is about pricing, presentation, promotion and negotiation of all my offers in person.  We attend with you at the lawyers, together, so that you understand everything is as was explained to you.  Thats what I do. 

Call me.

Toronto doubles condo development fees

Condos at Square One Celebration Square.

In the condo sales office there may be licensed or unlicensed sales representatives. Their obligation is simply to get you to sign and commit to the staged deposits.  They are not obligated to have you to understand.

It is incumbent upon you during the 10 day rescission period  [you have 10 days to take the contract to a lawyer to have it explained to you]  so that you clearly understand what addition closing expenses may be included in the documents.

Recent discretionary items I have seen are;
Lobby Art Contribution
Park Land Tree Planting
AND any additional levy's as yet unassessed by the municipality.
There may be individual meters for your condo.

That means you without knowing how much expense, you have committed to that amount of money. No debate. No Negotiation.

The time to CAP the closing costs and development charges is prior to the Conditional Period expiring. This is done by the lawyers in writing.  If it's not in writing it doesn't exist.

If you’ve purchased a preconstruction condominium in Toronto that has yet to close, take a close look at your Agreement of Purchase and Sale – you could be stuck paying a price increase of almost $15,000.
Like most municipalities, Toronto charges development fees when constructing a new building, adding new residential units to an existing building, or substantially redeveloping a building.
Since developers have no control over these fees, most Agreements of Purchase and Sale for preconstruction condominiums contain a clause stating that if the fees levied by the city increase, the developer can pass these increased fees onto the purchaser.  http://www.condoreporter.com/toronto-considers-substantial-increases-to-condominium-development-fees/

All the new charges added to your closing could easily be between 12 and $17,000 given what was talked about at Toronto City Council. PLUS any ART or Tree planting contributions.

Let's go back to Para 1...   If you had taken a Buyer's Broker with you,  Yes, I understand, you understand the buying process but you would not be so angry right now about that Toronto Condo where you did not cap the closing fees, consult a lawyer and understand clearly Phantom Mortgages and Land Transfer Tax Rebates if I had come along.  You didn't get a better deal.

That's what I do.

Search House History for Previous Water Damage

Photo Cred Tom Ryaboi

You thought you took your time and asked all the right questions...  Everything looked so freshly painted and well finished.   It wasn't finished, It was masked and hidden.

We have had two major floods in Toronto in the last few years. Storm Damage has been swift and indiscriminate.

They sweep out the water.   The broadloom has dried and dehumidified for weeks / months.  Now, that house is up for sale.     How will you find out what happened in the past.    I do.

Home Verified Reports are available to real estate agents through Geo Warehouse. This provides a documented 5 year claims history of that property's activity including if its been a GROW HOUSE.

   

HomeVerified Brochure by David Pylyp

The Home Verified Report allows you access to the exclusive database for property insurance claims.  Any claim by any insurer in Canada is recorded here incl; fire, flood, sewer back up, hail etc., going back a five year period.  Grow OPS Records are also included.

This  means that our team is able to provide you more details about the home you are considering as a resale home purchase and give you clarity and confidence to move forward.

Is this the type of information you need?

Lets get started buying your next home.

The Dilema - Do you rent or do you buy?

The Toronto Real Estate market just seems to defying logic and continues to increase in price [and competition] for single family homes.  Taking the average sale price in the 905 [ ring of homes around the 416]   Land Transfer Tax Calculator net of First Time Buyer Rebates.

Average Sale Price in 905          $598,708
Ontario Land Transfer Tax              8,449
Toronto Land Transfer Tax              7,699
Inspection Legals      +/-                 2,500

Mitigating Factors;
You are impacted by two land transfer taxes PLUS the legal fees to close.   I am assuming that CMHC Hi Ratio fees do not apply ( unless you are media where everyone is buying with 5 % down)   Average Mortgage in Toronto is $270,000.

Buyers have been reduced by the Bank of Canada reducing recommended amortization terms to 25 years. You will be taking a five year fixed rate because that is prudent with all the rhetoric about increasing interest rates.

Selling after 4 years of ownership will incur the following expenses;

• Lawyer Fees      $ 1,600
• Mortgage Penalty at 3 months differential  $3,000
• Real Estate Fees   assumes 5% but we all negotiate  $30,000
• Irrespective of the property taxes and living expenses of heat, hydro, water, insurance repairs gardening, repairs and improvements....

The Toronto Real Estate market would need to gain just shy of 10% accumulated over the next 4 years JUST to BREAK EVEN.

Real Estate is something to buy and hold for decades; raise a family. Plant roots in a community, Join volunteer Groups and Community Watch.  Worship, have christenings and weddings.  Graduations.

I appreciate the benefits and concepts of home ownership and building equity.  I do not believe in Buying to Flip with our Expense and legal structure of ownership.

What do you think?  Ready to Buy a house?   You're staying put, Right?

List of Sold Homes

You can find out instantly what that house down the block sold for.

Instantly.

Complete the simple sign in sheet for what neighbourhood, condominium community or group of streets you want and we will generate an immediate 6 month sales history report for you.   


When you know the TRUE values of the other homes that have sold in your community it is vital as you plan your financial affairs to decide when you will be selling your home.

Send me an email with the neighbourhood details you wish, just the street or even for one house.

I'm really sorry I bought this condo



Have you ever found yourself saying that?
Maybe its too small for your needs now...  Your daughter is learning to ride her bike in the hallways.  You don't like the neighbours selection of music or cooking.  All your sports gear needs an extra storage locker.

Maybe its too far from where you are working today. Your place of employment has changed and the reliance on Transit is greater.  TTC is not at the door step.

Maybe your needs have changed.

Possibly the maintenance fees are too high for what you are getting. Could be the repairs are not being made or adherence to Reserve Fund Studies are being ignored. Are you making your requests specific and in writing?

If this is your situation,

I can help; Give me a call @ 647 218 2414

NDP want to CAP RENTAL increases on NEW condo units

The Lack of Affordable housing has been problematic in Toronto for decades. Metro Housing is in decay and has a huge backlog of repairs in addition to a long waiting list of applicants.   Rent geared to income housing is a small portion of the rental pool and in the last 20 years individual investors have purchased units for rental purposes and placed them in the secondary markets

It's not that a landlord has a tough time finding tenants;  The Residential Tenancies Act provides free legal services to Tenants in addition access to Duty Counsel at Hearings.  The Landlord must now be represented by a licensed Paralegal or Lawyer, unless they are experienced in the process.

The Human Rights Tribunal has decided that Credit Bureau's and Beacon Scores can not be used to determine the applicants ( tenants ) worthiness for an apartment or rental unit. (I would like to try that at my Bank with a Mortgage Application)  http://www.ohrc.on.ca/en/about-commission

But the governing Liberals are unlikely to see the rent control question the same way. Ontario’s Minister of Municipal Affairs and Housing Linda Jeffrey said this in a statement at the end of April:
The post-1991 rent exemption was originally introduced – and has been maintained over time – as an incentive for private landlords to build new rental accommodation. This incentive not only helps to renew the rental housing stock but also creates jobs in the construction sector. As such, any changes to this incentive could have an adverse effect on the rental housing sector, the economy and job creation.The NDP are hoping for a change of heart, especially as the provincial opposition have the Liberals survival — with a crucial budget vote yet to come — in their hands. They’re also arguing that the construction boom intended by the rent control changes haven’t been successful.
Forster notes that most of the new construction have been condos, sold to investors and then rented out second-hand, and not rental buildings.
“This misguided rule has not accomplished what it was meant to, and very little new rental housing has been built,” said Forster. “For tenants living in these newer buildings, it has been 20 years of uncertainty and unfairness.”http://o.canada.com/2013/06/04/ontario-ndp-wants-to-close-rent-control-loophole-open-since-1991/

Backgrounder - Rent Increase Loophole

Governments control increases to HST/GST that have increased maintenance fees; The Ontario Government controls the Hydro Billing Rates (because they need approval)   Cities and Municipalites control Tax rates, water and sewage pick up fees billed directly to Condo Buildings.  NONE can be lawfully passed to a tenant in a Rent controlled building.

Vacancy Factors in Toronto are current near 1%.

If there is no available social housing, and Independent Condominium Investors have stepped up to invest in their properties and the Government then CAPS the rental increases [while clearly charging more for different services] there will be a sharpened increase in the number of TENANTS looking for units as landlords EXIT the rental pool as their profit margin is impacted.

If the NDP are successful in capping the Rent will you keep your rental unit or sell?

I personally think there are too many PLAYERS  tinkering with the real estate market; from double Land Transfer taxes in Toronto to increasing Lot Levies, Shortened Amortization Periods, multiple providers of tenant counselling services and well meaning but hazzardous legislation setting profits and ROI.

When did it become embarrassing to make money? What's your opinion?

You can afford the HIGH Rent but can't Buy

We all want to own our own home;  Its an emotional issue.  Belonging.  Stability. Your refuge.  Your own lawn or Balcony away from the world.

The New dynamic of Contract Employment and Now YOUR responsibility to remit taxes is creating a strata of Strong Income Earners who are paying very high rents to live in Toronto, [ yes albeit in modern clean well appointed new condo developments,] that may have missed a payment or two, missed a filing deadline, still have a student loan, become divorced or simply had a reversal of fortune that dramatically changed their circumstances and the CREDIT BUREAU report. 


Lets Get your credit repaired and Go Buy you, your own place, so you can stop feeling like you are throwing your money away on rent.

If you are in the Toronto GTA, I would like to meet with you.

http://Bit.Ly/GetDave  or write http://Bit.Ly/CallDavid   or  email

Of course;   You could just call 647 218 2414

You are a good Client - Best Rates on Mortgage Renewal

The Mortgage is up for renewal. You expect a competitive quote!

The average mortgage is Toronto is just under 300K.  Source.  While watching current rates offered to new borrowers we received our Offer to Renew.



I was shocked to see that as a new Buyer my Trusted Mortgage Advisor could obtain 3.0%  (a few basis points below) fixed for 5 years. Why was I being offered 4.4% for the same term?

• Had I missed any payments?
• Had I been problematic?
• Was it in collections?
• Values dropping and they want out?
• Advance to Value declining?

Here are the hard numbers...

The lending institution is gambling that you will not spend a thousand to $1,500 to refinance and move your business elsewhere. We contacted another lender who waived their appraisal and application fees, needed only redocumented legals and a registration on title (lawyer fee). Yes we paid a discharge Fee and Leave Lender Fee; and extra $500.00

They gave us the 3.0% refinance package for 5 years saving me a HARD DOLLAR amount of $4,200 in the first year and the same in each following four years.  An actual savings of $20,000 that can go to principal reduction or other debt repayment instead of bank profits.  Do you have other bills you could have paid?

When we contacted the existing Mortgage Company they said; "Why are you moving your mortgage?"  We responded "We received a better rate." Their mortgage rep then said  "We can match that to keep your business!   Me:  "Why didn't you give us that in the first place?"    Silence.....

We had already signed the commitment with the second Lender.  Legals had been obtained and quoted. I don't have a [money] large enough accounts like UNIONS to threaten the bank with a withdrawal.

Have you had a similar experience?   

Can I recommend a Trusted Mortgage Advisor?  It may even be with the same bank! 


There is The better way to buy or sell a house in #Toronto or #Etobicoke  http://bit.ly//CallDavid  It's all about being part of the conversation....  All the detached houses you can handle.   http://homeswesttoronto.tumblr.com/mobile

https://plus.google.com/u/0/109283965469179719942/about

2013 Immigrant Buyers Program

So many changes recently to the CMHC Home Ownership programs I asked for a Summary of the Current programs and what requirements need to be met;

Product : New Immigrant policy changes·         All applicants are required to simply confirm 12 months of principal, interest, and (property) tax (PIT) payments in savings in Canada in addition to their down payment·         Maximum aggregate loan amount has increased for select areas in GVA to $1,250,000 and remains at $1,000,000 for properties located in the rest of Canada. Maximum of 2 properties applies.
·         Where limited or no credit bureau exists, credit worthiness can be established by one of the following:
o    Satisfactory letter of reference from a bank in the country of origin; or
o    Confirmation of rent payments supported by 6 months of bank statements from primary account; or
o    Documented 6 months of paid utility bill payments confirming no late payments (e.g. utility bills, cable, telephone etc.)
From our Vice President Mark Clearihue …
·         TD is #1 in market share since 2010 (see chart)
·         Total portfolio exceeds $218 Billion…LARGEST in Canada
·         2012 was a tough year – tighter regulations introduced by Dept of Finance for all banks
·         2013 will continue to see an extremely competitive market place in slower real estate market
·         Low interest rates, strong rental markets, and immigration still provide a foundation for reasonable markets. Spring sales season should be solid, but more modest

 Td economics·         The Bank of Canada left the overnight rate unchanged and downgraded its forecast for Canadian economic growth in 2013 to 1.5% (from 2.0% previously).
·         The global economic outlook remained more or less unchanged as growth has evolved “broadly as anticipated”. There was a slight upgrade to growth in Japan due to the recent announcement of new policy stimulus. Meanwhile, the Bank expected fiscal drag in the US to weigh more on growth in 2013 as opposed to being evenly spread between this year and next. Overall, the U.S. economy is expected to grow by 2%.

Romy Alegria | Manager, MMS | TD Canada Trust

P: 416.278.2540 | F: 1-866.222.5708

E: Romy.Alegria@td.com

W: http://mms.tdcanadatrust.com/romy.alegria

If you have a question please post it....

Ask people who can answer your questions  Not just make them up...  

Call me  

David Pylyp

Amazed and Amused by Storage Shows

We watch them find long lost and abandoned family heirlooms and items of value;   Our sense of curiosity peaked by the search through someone else's life.

Yet It could so quickly become our parents who put things in storage to make space in their home and all is forgotten for the sake of a few index cards and organization.




Many people have off-site storage lockers Where they SAVE items that no longer have purpose. What may have started as a short term solution for their storage needs, but has become a long term issue.

The cost of paying for a locker can ADD up to thousands per year. Unless an index of all the items was made when the locker was filled, most people don't even remember what is in the locker. 

In the end a storage locker becomes a very expensive garbage can to be cleaned out later

Lets deal with it Now 

Liz Manore   905 467 2400.

Staging and Organizing your Toronto Home and preparing to sell?

Toronto Housing Bubble

Tell me again about the lack of faith in Toronto real estate.

Where would you like to put your 20 or 25 % in the GTA's continuing real estate market.

Just be careful what you buy...   http://www.buyinginToronto.ca

Maybe you would like to conduct your own search. http://homeswesttoronto.tumblr.com/mobile

How can I help you?

Join a New Women' Prosperity Network

Celebrate, Mastermind & Grow with WPG! Women’s Prosperity Group (WPG) is a true “Network” of extraordinary women who are committed to excellence in every area of their lives.  WPG is the community where you can “Be Real, Get Real and Achieve Real Results.”

You have the ability and knowledge to do better at work, get a promotion, plan for your future growth, retirement, gaining equity with investments,  stock market and buying a home on your own for long term asset growth and stability.  
Who are you?
Women who are creating and embracing life on their own terms.
Women with a commitment to excellence.
Women with drive, passion and talent that they willingly share with others.
If you want to create and develop lasting and trusted relationships, in an environment of mutual respect, trust and support, that allows your inner brilliance to shine, you’ve come to the right place!

Check out the wonderful opportunities we have created both online and offline for you to connect, grow and prosper with the most inspired and focused women making a difference in today’s world.

Romy Alegria Mobile Mortgage Specialist is hosted an open Forum for women to network, make friends socially and improve their financial position through being informed and up to date about investing and gaining equity through property ownership.


The Meeting is held Saturday Mornings during March at 11 AM till 12:30
PM on the second floor of the TD Bank 443 Queen Street, Toronto.  Parking is street level with parking meters at $3.00 per hour.  Elevators to Second Floor.TD Canada Trust Map / Directions   at QUEEN and SPADINA. Address: 443 QUEEN ST W TORONTO , ON M5V2B1

David Pylyp is an Accredited Senior Agent with RE/MAX Realty Specialists Inc., has established a new level of excellence in Real Estate through in-depth knowledge and a combined connection of services.

Our innovation is unlike any other; our creative thinking and determination separates us from 99%.  With these Videos we aim to bring you all the information available regarding the west Toronto Real Estate market.

The David Pylyp Real Estate Group at RE/MAX Specialists handle, every type of transaction from Toronto or Mississauga Homes, Condos and Investments properties.

http://en.wikipedia.org/wiki/Empowerment#Ways_to_empower_women

Ways to empower women

One way to deploy the empowerment of women is through land rights. Land rights offer a key way to economically empower women, giving them the confidence they need to tacklegender inequalities. Often, women in developing nations are legally restricted from their land on the sole basis of gender. Having a right to their land gives women a sort of bargaining power that they wouldn’t normally have, in turn; they gain the ability to assert themselves in various aspects of their life, both in and outside of the home.^[4] Another way to provide women empowerment is to allocate responsibilities to them that normally belong to men. When women have economic empowerment, it is a way for others to see them as equal members of society. Through this, they achieve more self-respect and confidence by their contributions to their communities. Simply including women as a part of a community can have sweeping positive effects. In a study conducted by Bina Agarwal, women were given a place in a forest conservation group. Not only did this drive up the efficiency of the group, but the women gained incredible self-esteem while others, including men, viewed them with more respect.^[5] Participation, which can be seen and gained in a variety of ways, has been argued to be the most beneficial form of gender empowerment. Political participation, be it the ability to vote and voice opinions, or the ability to run for office with a fair chance of being elected, plays a huge role in the empowerment of peoples.^[2] However, participation is not limited to the realm of politics. It can include participation in the household, in schools, and the ability to make choices for oneself. It can be said that these latter participations need to be achieved before one can move onto broader political participation.^[6]When women have the agency to do what she wants, a higher equality between men and women is established. It is argued that Microcredit also offers a way to provide empowerment for women.^[7] Governments, organizations, and individuals have caught hold of the lure of microfinance. They hope that lending money and credit allows women to function in business and society, which in turn empowers them to do more in their communities. One of the primary goals in the foundation of microfinance was women empowerment. Loans with low interest rates are given to women in developing communities in hopes that they can start a small business and provide for her family.^[8] It should be said, however, that the success and efficiency of microcredit and microloans is controversial and constantly debated.^[9]

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