Sunday, December 13, 2015

Toronto's Million Dollar Homes are HOT

The luxury market in the Greater Toronto Area was very active during the first seven months of the year. Sales of properties over $3 million increased 119 per cent year-over-year. The increase of sales at the top-end of the luxury market can be attributed to two factors.

One is overall price appreciation in both markets, driven by low inventory and high demand for single-family homes that has led to more homes meeting the higher dollar threshold. A second factor is high demand for luxury homes from foreign buyers in both markets. 

Two demographics make up the majority of buyers in Toronto’s luxury market.  One is families with older children and parents with professional jobs who have built up enough equity in their previous home to upgrade. The second are families from outside of Canada, primarily China, with school-aged children. These buyers typically choose four or five-bedroom homes and are strongly influenced by proximity to good schools.

Average sales prices now exceed $600,000 for a detached home.  Our year over year gain for 2015 is expected to be at or near 10%

Canada Mortgage and housing has introduced new rules for additional down payments requiring 10% down after the $500k threshold.   I doubt these measures will have any effect to slow sales.

Rates continue sub inflation
Inventory Remains Low
Immigration for Jobs and Safe Haven Continues

Are you Selling or Buying?  Come see what's new!

What do you think?

NEW Improved Protecting Condominium Owners Act now in place

With almost 600,000 condominium units in the Province of Ontario and more coming; the Condominium Act was slated for review.

I disagree with an additional layer of government that is ruled by Tribunals that require paralegal representation and will require funding [ we pay ] as compared to legal redress. This also will cure many self managed Condo buildings that run rogue over residents.

However the Top Talking points are;

A new Condominium Authority will be established in 2015 to prevent common disputes and serve as a cheaper alternative than the court system to resolve problems. It will be an independent, not-for-profit corporation self-funded by a $1-per-unit monthly fee and will fall under the oversight of the provincial auditor general.

There will be mandatory licensing and education requirements for condominium managers. The new administrative authority is designed to regulate condo managers and property management companies through a compulsory licensing system and a code of ethics.

Governance requirements for those on condo boards will include training of directors. Boards would no longer have to pass a by-law in order to hold a conference call or virtual meeting online. And they would be required to update owners regularly on insurance and any legal proceedings.

There will be clearer rules to protect owners from sticker-shock costs after purchasing newly built units. Developers will be required give buyers a guide to condominium living at the time of sale and the Ontario new home warranty will soon also apply to some condo conversion projects in older buildings.

Improved regulation for condo corporations should help curb financial mismanagement and organizational bungling and reduce fraud. It would forbid condo corporations from finalizing some maintenance contracts unless they have sought competing bids for work and give owners more information about their corporation’s finances and clarify rules about reserve funds.

The Protecting Condominium Owners Act 2015  Bill 106 
is available here

Better or Worse Its here

What do you think?

Tuesday, June 23, 2015

No matter what he says; Tell him we need to think about it

My guess is that before this meeting took place, you agreed not to make a buying decision today. That's perfectly understandable. Most of my clients want to think over my proposal. I've done the same thing myself.

All I ask is that if you see something that is a good fit for your needs and may bring your great benefits and may even save you money that you won't let that pact stand in your way.   That's fair isn't it?

Thank you Tom Hopkins

Ready to go shopping now?    For that forever house you've talked about? 

Computer Generated Virtual Tours now included with each NEW* listing

Wednesday, June 17, 2015

Smoke Smoke Smokin' in my condo


Trudeau...   The Past Prime Minister said it best when he said the "Government has no business in your bedroom"

What would he say about this?

Section 2(1) of the Human Rights Code provides that:
2.  (1)  Every person has a right to equal treatment with respect to the occupancy of accommodation, without discrimination because of race, ancestry, place of origin, colour, ethnic origin, citizenship, creed, sex, sexual orientation, gender identity, gender expression, age, marital status, family status, disability or the receipt of public assistance.
For the purposes of section 2(1) “occupancy of accommodation” has been interpreted to include living in a condominium corporation and “disability” includes a medical condition which may be irritated by the presence of smoke.
It is crucial to note that the Human Rights Code takes precedence over all other Ontario provincial laws, including the Condominium Act.

Meanwhile, those who smoke on balconies and carelessly flick their butts away are responsible for fires.   Who says so?    The Fire Department.

In the last five years, cigarettes sparked 97 fires on condo and apartment balconies, tallying $45M in damage, said fire chief Ken Block.
That includes the Clareview condo complex fire in May sparked by cigarette butt discarded into a diaper pail, which left more than 300 people without a home.
"Fires caused by the improper disposal of smoking material are completely preventable, and yet are the cause of some of our city's most dangerous and devastating fires,

So where will we go for a cigarette?

What about marijuana?   Legal Medical use...  I have a permit / script for that...   right?

What are your thoughts?

Saturday, June 6, 2015

Digital Imaging arrives in Toronto

When home sellers see that you’ll be presenting their property online in immersive 3D, they will be blown away. A Matterport 3D Showcase™ makes you the clear choice to list any property. 

Digital Imaging Toronto is revolutionizing how real estate photographers, brokerages and agents showcase residential and commercial properties. The Matterport 3D technology is simple, powerful and effective. The ultimate home Viewing instrument that allows you to measure and create floorplans. 

A 3D Showcase™ is an online experience that lets home buyers move through a property and see it from any angle. Even get a completely unique sense for the place with our “dollhouse” view. Try it here!


Matterport 3D Media Platform Demo from Matterport on Vimeo.

... BUT there are thousands of other professions and services that could use this technology; 

  • Restaurant or Pub displaying their venue 
  • Homes under construction displayed in stages of completion 
  • Stores that have an online shopping presence 
  • Commercial Real Estate Brokers to display retail or office space. 
  • Home designers to display what could be changed. 
  • Insurance Companies for Claims or Verification Museums, 
  • Art Galleries and other Venues 

 Matterport is a key part of the optimal “click and mortar” showroom and commerce experience. The Matterport Pro 3D Camera and Capture App for iPad automatically produces high-quality immersive 3D models in the hands of any user. As the camera gently spins, it captures the colors and contours of a space—and calculates dimensions and spatial relationships between objects. Other laser-based camera systems are cumbersome, expensive and take days to create a 3D model. Access and organize your 3D models. 

The Matterport 3D Portal is a management and distribution platform for all of your 3D models. Access and organize your scan jobs and models, collaborate with your team, share models with clients, and publish models to the general public. All of your 3D models are uploaded into the folder you designate for each user. Cloud-based creation and hosting of high-fidelity 3D models. 

The Matterport Cloud executes an extensive set of computer vision algorithms to process the photography and 3D data, creating a 3D model that combines HDR-quality imagery with dimensionally accurate geometry. In this way, geometrical data is converted into an efficient polygonal mesh, which can be easily streamed to the Matterport 3D Showcase media player. 

Be there. From anywhere. Once a Matterport 3D model is hosted in the Matterport Cloud, viewers anywhere in the world can explore these spaces from their desktop or mobile device. The result? A totally immersive experience that literally transports you. 

 This functionality is now available on Virtual Reality platforms like VR Googles. News Releases 

Call Digital Images Toronto to arrange your Virtual Tour - starting June 20, 2015

Friday, June 5, 2015

Digital Imaging for Home Tours 3D with Matterport

New Technology now available in Toronto

Matterport digital imaging combines 3D and 2D technology and renders a drive-able video tour. You control what you want to see and from what perspective.

3D Showcase Navigation Help. 

3D Showcase features a new help experience designed to drive greater engagement with your models. Navigation Help educates users on key features, such as walking around inside the model and viewing the Dollhouse. 

Click the question mark icon to open Navigation Help. Navigation Help automatically appears once for each user. If you wish to display help every time a particular 3D Showcase runs, you can add the query parameter help=1 to the embed code, as shown below:

Call to create a Digital recreation of your home today 647 218 2414

Virtual Tours Are available Approximately June 20th 2015
Condos from $200    Houses from $300
Engagement is 4'x that of a normal virtual tour
Book Now! 

SAMPLE condo showcase

Saturday, April 11, 2015

I should be asking you...

If you are legally married and how the property is held?

Recently had an older couple downsizing; where they had already purchased a condo. When selling the house I asked if it was held jointly? The husband said in his name only and didn't need the wife's signature. The wife said they took VOWs in front of the Priest but they did not get a marriage license. I pressed to have the wife sign as a party to the transaction.

The Husband's lawyer called demanding I stop insisting on Spousal Consent to Sale of the Matrimonial home, I simply responded "If [he] provided me with a letter of indemnity to Save me harmless from any subsequent claims I would be pleased to follow his lawful instructions"


Other things I need to ask;

How to Validate Information Your Clients Provide
validate informationThe word “lie” is a noun that is defined as “an intentionally false statement”. Has a client lied when they provided inaccurate information to you? Some industry professionals think so – we are not so sure.
When a client provides you with their information or information about their property, and then that information turns out being incorrect, more often than not it’s because your client was:
  • Confused
  • Forgot
  • Didn’t know
You can have a whopper of a lie, when someone knows they are concealing from you, right down to little white lies (as perceived by the client) where a problem or two in the home is not disclosed to you and the client hoping it will slip by. While little white lies are far more common than whoppers, both can cause big problems.
This is why, as a real estate sales professional, you have to:
  • Ensure that you are clearly asking your client the right questions.
  • Ensure that you are equipped to validate information your clients provide to you.
In real estate, it seems that there are key areas/circumstances where omissions and non-disclosures often come into play:
  • Issues with the property that a homeowner may be aware of.
  • The client thinks that the property is worth far more than it is.
  • Someone else on title to a property.
  • Financial challenges with the borrower or the property – perhaps there is no equity, the mortgage is in default or there is a lien.
Here are some tips for you to validate clients’ provided information:
  1. Try to have as complete information as possible. Ask lots of questions and be calculated about the questions that you ask. Doing so may uncover an issue before you spend time and expense and enable you to guide your client as to how they can navigate their issue.
  1. Perform some basic due diligence. You can run a search on GeoWarehouse to validate homeowner and mortgage information, as well as check the sales history on the property and sales comps. If you suspect that there is a lien, you can use the GeoWarehouse store to obtain a Parcel Register* to validate same.
  1. Financial challenges – this can be 2 prong. Financial challenges with the client could mean that they may have difficulty getting a mortgage, and financial challenges with the property could mean that there is not enough equity to pay your fees. You can learn of financial challenges with the property using step 2. You can learn of financial challenges with the client by asking them (if they require a mortgage) for a pre-approval or to speak with their broker to confirm that there won’t be any surprises on that side.
  1. Undisclosed problems with the property itself – in these instances the homeowner may not even be aware of a problem with a property. You may not be a home inspector but there are some noticeable things that may tip you off. It’s better that your client know and address it than to have potential buyers come through who notice and then decide not to make an offer. Here are some things inside your client’s home that you can take a look at – or take a look at when showing other homes to your clients:
  • Plumbing – in the kitchen and all bathrooms:
  • Open cupboards and check if you see visible leaks or signs of water damage
  • Run water to check water pressure
  • Water heater – check the age
  • If appliances will be included – ensure that the fridge, stove, oven, dishwasher, washer and dryer all work by turning them on.
  1. Finally – Google is also an excellent source for information. Through a Google search you can learn if there was a disaster in the area where the home was, a flood, fires – all sorts of things.

Conduit provides a snap shot of any insurance claims related to a property going back 5 years.   So water damage or sewer back up's and repairs will be found.

The Home Buyer's Insurance is available with a purchase to protect you from wiring plumbing and major appliance failures.

It's time to call me to sell....  Call today! 647 218 2414  

Friday, April 10, 2015

When the square footage is wrong

Agent takes the square footage of the condo floor plan and rounds up!   Then ROLLS the square footage of the balcony into the square footage of the condo unit.  [balcony is a common element that is exclusive use]  Next year the agent uses that as the Square Footage.   You move in and find the unit SMALLER than advertised.

What are the rules?

5 Things to know about square footage I have received calls from buyers and real estate agents complaining about finding out that their home or condominium had less square footage than was represented on their original MLS® listing.
My immediate thought was "did the home shrink after closing?" In other words, if the square footage was really important to you, why didn't you measure it yourself before you bought the home?

Here are 5 lessons to remember about square footage:
1.    When you buy from builder plans, nothing is guaranteed
Some builders attach plans with square footage to their agreements, other don't. Even if the plan is attached, The Tarion Warranty Programme permits registered builders to make errors up to 2% and unfortunately, there are no penalties if the error exceeds 2%. While buyers can request a price adjustment if the error exceeds 2%, in my experience, most builders will not agree with this. In addition, there is confusion as to whether the measurements are just for interior living space or whether it goes to the exterior walls, and it may not account for pillars or other obstructions inside the unit.
So even if you are relying on builder plans when figuring out the square footage, there may be errors in them.
2.    Buyers may be able to sue if the difference is substantial
The case law has gone both ways as to whether a buyer can successfully sue if they find that the seller misrepresented the square footage and the difference was substantial, say over 10%. In some cases the listing brokerage was held responsible for not properly verifying the information. But it is not guaranteed.

3.    Will disclaimer clauses protect sellers and real estate salespeople
A disclaimer clause will likely protect a seller from liability, unless they knew the information was false and gave it out anyways. However, a real estate salesperson is required to do their due diligence. That does not mean that you can just copy the square footage from an expired listing. If you do not do any due diligence, you may still have violated the Real Estate Council of Ontario Code of Ethics, even with a disclaimer clause.

4.    If you are acting for the buyer, ask how the seller came up with the square footage
While buyer salesperson can normally rely on a listing salesperson to conduct due diligence, it is a good idea to always ask where the number for the square footage came from. Was it on plans, through MPAC or just from a prior MLS® listing when they bought in the first place? In addition, if you see a disclaimer clause, explain this to the buyer and consider having the property measured by the buyer themselves for verification.
5.    If you are not sure, just measure it yourself
It is easy to be fooled when it comes to square footage. Professional home stagers are experts at making rooms appear larger than they are by the furniture that is used. If you are acting for a seller, discuss with the seller the advantages of hiring a professional to verify the square footage before putting the home on the market. If you are acting for a buyer, ask them if the square footage is important to them, and if necessary, take the time to do some of the measurements with the buyer to make sure the area is close to what is being represented.

By asking the right questions both before listing and during the offer negotiations, there should be no complaints or claims about square footage after closing.If you have any stories to share about the GTA housing market or just need some advice, please contact me at  

Same rules apply when your two car garage has an interior hall closet protruding into the garage space or a staircase and landing added inside the garage to deal with the elevation [height] of the garage that renders your two car into a single car garage.

The plan and elevation drawings [and municipal tax department] now indicate you have a two car garage where two cars cannot fit.

Good advice from Mark Weisleder 

Tuesday, March 31, 2015

Betting on Toronto Condos

With so many cranes visible on Toronto Skyline we might be a little concerned about who will buy these suites.

The book, ‘When the Bubble Bursts,’ written by financial analyst and author Hilliard Macbeth, warns Canadian homebuyers about Canada's “inevitable” housing crash and says the market is 50 per cent overvalued.

Yet people continue to arrive in Toronto and driving the need for rental accommodation; This is being filled by large asset companies like Insurance companies and Pension Funds that want long term assets that provide cash flow.  SIMPLY PUT Tenants pay rent.  Rental prices are geared to market.

  ...a proposed 49-storey condo building near one of the city’s main intersections at Yonge and Bloor into a de facto rental when Cityzen Development Corp. received an offer.“Pension funds have always liked rental. Condominiums don’t fit. But rental does because they are trying to get long-term cash flow,” said Mr. Finkbeiner, adding the key is price with institutions acting opportunistically when condo prices come down. “You’ve got a lot of condo developers who may have two sites beside one another and as time goes on they say, ‘I don’t want to take all that risk.’ So they offer the land from one of them, and [the rights] to build it, to a pension fund.”

Pension Funds and Investment Fund managers are canvassing builders and developers directly to purchase projects before they are off the ground because Toronto continues to be a sound investment. Vacancy Factors continue at near 2% levels. (Source CMHC) Condo Construction in Toronto now exceeds 53% of all new builds.

Ready for your own investment purchase?    Chose Wisely!   Call today   647 218 2414

Monday, March 30, 2015

Estate Administration Tax (EAT) 2015

Effective January 1st 2015 you must evaluate every item in an estate for taxable value within 90 days of the funeral. What a challenge to get all those statements and appraisals in place for an estate and then PAY the tax prior to any FINES.

The Ontario Government circulated the EAT rules without much fanfare;   The complete copy can be read here.

What is the estate administration tax?

The estate administration tax is imposed on the value of all the property that belonged to the deceased at the time of his or her death less the actual value of any encumbrance on real property that is included in the property of the deceased. It is a requirement under the Estates Act that this value be disclosed when the estate representative files an Application for a Certificate of Appointment of Estate Trustee with the Superior Court of Justice. The estate administration tax must be paid as a deposit at this time.
Cheques for paying the estate administration tax are made payable to the Minister of Finance.

Is estate administration tax the same as an inheritance tax?No. The estate administration tax is paid by the estate and is based on the value of the estate.
Inheritance tax is a tax imposed on someone who inherits property or money from the deceased's estate (i.e., the beneficiaries). Ontario does not impose an inheritance tax.
The estate administration tax is payable only if an estate certificate is issued by the court.
In Ontario, the estate administration tax has been imposed on estates that receive estate certificates since 1998. Before 1998, this tax existed in Ontario as probate fees for many decades.

This will impose a hardship on the estate administrator to comply quickly and prepare the tax to avoid penalty that would be levied against them.

I guess SOMEONE #onpoli needs the money.
Are you dealing with an estate?    Can I help?  Call me today 647 218 2414 

Thursday, March 26, 2015


Should we be collecting PHOTO ID at open houses?

Do you regularly ask for and obtain names and phone numbers for all visitors that come thru your open houses?   Does posting a SIGN help?

It is someone's home and personal contents that are readily visible.

What about my personal safety?

If it was your house I hope you would request the same information.

Its about the results.
Call Me today to schedule an interview.

647 218 2414

Coming Soon - Pre Marketing BUZZ

Toronto - RECENT PHENOM is the hype of a New Business advertising their arrival into a local community.   Building HYPE. OPENING SOON!  Creating a BUZZ.  Future Anticipation. It's Different for a house.

Our Toronto MLS  **forbids** us from talking about listings in advance, in that, to be valid a listing it  must be available to show.  [and Not JUST by the Seller's Agent]

The Listing Agreement (MLS contract) prohibits sellers from chatting about things too. Because doing so is NOT in [YOUR] the best interest of THE SELLER!

We have a couple listings coming soon (that will remain undisclosed until loaded onto the MLS system and OPEN HOUSE invitations are circulated). It's a challenging situation because of Fence Chatter.  Neighbours hanging over the fence and talking about how Bill and Arlene  will be Selling Soon! Despite our best efforts, the neighbours are SHARE THE SECRET with their friends and family about a house in their 'hood!

So, Now what happen's? Guess?  They already have someone "begging" to talk with them in advance.

Why is that? What's the motivation? Well of course, to pay LESS. But why? Because they KNOW there is no inventory!! And what might this mean? That the seller could expect multiple offers and the BUYERS  want avoid a BIDDING WAR thus the end run!

Multiple Offers mean you could have MORE MONEY!!

 "Supply & Demand" is a basic concept.   Buyers are willing to may more when there is less for sale.

Are you selling?
I am all about the numbers without the drama.
Call today.
647 218 2414

Saturday, March 21, 2015

Can I fill 'er up while we visit? Hybrid Charging Stations

Living in a condo myself I have contemplated an electric vehicle or hybrid.  This questions; Where will I charge my car where there is no community charging station.  This will become more prevalent as more hybrid cars come onto the market [roadways] and Toronto Condominium Buyers see this as an added value.


I attended at the Tridel Parc Nuvo at 15 Viking Lane in Etobicoke, ON    This is a 36 storey tower with 10 units per floor.  [ I have a unit for sale there that is part of a managed rental pool] 

I was taken with the 10+ spaces available in the Guest / Visitor Parking area that were clearly marked as a Hybrid Vehicle Refueling Station.  Your guest could come for dinner drinks or a night out and retrieve their vehicle fully charged.  Actual costs of the charging stations and consumption are to the building [ and condo corporation]

Are you using this technology?   Would this enhance your purchase?

David Pylyp
647 218 2414
Call me

Monday, March 16, 2015

Back Up Offers

The house you went to see was sold in multiple offers.  The frenzy of the Bidding War created an atmosphere of an auction. The momentum overtook a few buyers and they over stepped their capacity to conclude the transaction.  This did not come up until a few days or weeks later.

An experienced and wise REALTOR® would solicit BACK UP OFFERS for his sellers in the event that the transaction was in jeopardy.

This very event occurred on a recent listing, where competing offers were made. The WINNING offer was better and with a stronger deposit. After the deposit was received and deposited the Purchaser upon reflection backed away from the sale.

Other PURCHASER's had expressed their interest and dismay that they had missed the opportunity to bid and would be pleased to step in should that situation arise.

With a short list of 10 names and numbers, they were individually contacted to ascertain their ability and capacity to purchase the home.

Quickly ( within one day ) a suitor had been found.

A new contract was drafted and concluded. (A Mutual Release was in hand)

Bank Appraisals and Status Certificates are causing many challenges for the uninformed or inexperienced buyers to react at the speed of the market.

I strive to make it easier and seamless for you. Ultimately it's the results that matter.

Call me. 

Exclusive Whisper Listings for Luxury Homes

Why didn't we see that one?  Some houses are sold as POCKET or Whisper Listings.

Recently a Hollywood movie star sold her house in a whisper listing.  Yes, You can have a look at Jennifer 's House  

Toronto has more millionaires per capita than any other city in North America, and they love their privacy and anonymity.

What is a POCKET LISTING?  Simply, I protect your privacy.

It is a Listing, that at this time the Seller has no intention of placing on the open MLS.

These are listings that I sometimes have that are in better closed neighbourhoods.  This may be because of school district or simply pricing. [or the owner's privacy]

We have met at an open house and  a specific buyer that wants this particular subdivision.  There are very few or none available.  I will write and canvas the individual homes for pocket listings.

Notes and Direct Mail; Receiving a few replies will lead to previews of specific properties, that will agree to showing their home discreetly.

These one party signed exclusive [pocket] listing agreements, may prove suitable or may not.  They nevertheless become available inventory to my clients.

What are the advantages?
Some want privacy...
Some do not want the open MLS knowing they are for sale
No people [shoppers] through the property that are unqualified to make the purchase.

Are you ready to be previewed for Whisper Listings?

Call Now....  If it's busy .. call back

647 218 2414

Condos charging for Parking

Q: Now condo builders start charging monthly fee for parking and locker,which is also around $55 dollars per month. 

Condos are not charging for parking.  You own the parking spot.  You can sell it or Rent it as you decide what you need.  Previously where EVERYONE had multiple parking spots they were an asset of the corporation and could be easily rented from management.  

Today with parking a premium; many buildings do not possess one parking spot for each car [indeed some buildings have no parking] 

Q: Is there any rule for construction levy one builder charge $6000 and another charge $2500.  Who they work out.

Lot levy is assessed by the City at the time 

Ask the question of people who can answer.

David Pylyp

Wednesday, March 4, 2015

When Did your house become a Dollar Store Item?

You want to sell your house on the Bridal Path; maybe Markland Wood or another GLAM upscale neighbourhood, like the Kingsway. The agent you hire to sell your house recommends that you list for "one dollar."

When did your house become a dollar store item?

Your comments are welcome

Monday, March 2, 2015

Was there really another offer? Lies and Toronto Real Estate

Toronto - Etobicoke   You have found THE perfect house and you love it!  Now you are pondering an offer and the agent says:

"There are other offers registered."

How do you know?  Who can you trust?

I would include a clause that indicates;
This offer is being submitted on the basis that it is part of multiple offers. If the seller receives no other offer by 9 pm on {INSERT DATE}, the seller or the seller's salesperson will notify the buyer or the buyer's salesperson and the buyer will have one hour to revise or revoke their offer. If the seller accepts the buyer's offer, the seller shall provide, within 24 hours, the name, address and phone number of the salesperson and brokerage company that submitted the competing offer(s).
It has happened (to me) that in the heat of the moment, agents will register an offer [this means that its printed and signed, ready to present] only to not attend the presentation or neglect to email or fax the contents.   Their Buyers have simply grown cold feet and withdrawn.

New Guidelines from Bill 55 from RECO are very specific about what you are entitled to.

Q: What are the requirements for the summary document? A: The summary document can only be used for offers that did not result in a transaction. The summary document must include:
• The name and signature of the buyer.
• The name and contact information of the seller.
• The name of the buyer’s brokerage and their representative.
• The name of the seller’s brokerage and their representative.
• The address, legal description or other identifier of the property.
• The date and time the offer was made.
• The date and time the offer was received by the brokerage, and how the offer was received, such as in person or by fax.
• The date of presentation, if the brokerage presented the offer to the seller.
• The date and time, if any, until which the offer was irrevocable.

Best course of ACTION?

Be there with me!

I'm available in West Toronto at 647 218 2414
Call me

Tuesday, February 24, 2015

How many Condo Investors are out there? CMHC Condo Survey

The Canada Mortgage and Housing Corporation (CMHC) recently released the results of its 2013 Condominium Owners Survey. This is the first year CMHC has released the results of such a survey. It is intended to provide an enhanced understanding of the activity and role of condominium owners and investors in Toronto and Vancouver, two major Canadian condominium markets.

Highlights of the survey include the following results:

82.9% of the condominium owning households surveyed reside in their unit and 17.1% are condominium investors.
42.1% of condominium investors (the subset of condominium owners who own their primary residence and at least one secondary condominium unit) surveyed had no mortgage on their last purchased condominium unit.
About half of the condominium investors surveyed rent out their last purchased unit, while one third have their last unit occupied by family.
25.7 per cent of condominium investors bought at least one unit in the presale phase of the project (i.e. before the start of construction phase).

Work with Facts   Not fiction or Assumptions

David Pylyp

Thursday, February 19, 2015

Presentation Techniques in Multiple Offers

What are the top tips on winning multiple offer battles for that detached house in Toronto?

Sure   we can all say have the highest bid, Or make sure there are no conditions.

Baking a Pie? 

Maybe a Video about yourself and your family?  Hand written letters?

In the heat of the moment are you prepared and ready?

Present in person if possible. Avoid the trap of having your offer SENT IN BY EMAIL.  That makes it impersonal, and you are not there to advocate for acceptance. Provide a certified bank draft for 5-10% of the purchase price with the offer; this validates your capacity and intention to Close the transaction. Remove all conditions if possible (pre-inspect if necessary, push your mortgage lender for a commitment) 

Clearly Advise Seller that if the property doesn't appraise at the price paid, the BUYER may need to fund the difference from savings.

If you have an opportunity to introduce your buyers; face to face, with the Sellers, this is the time to do it.  Ask the Sellers [since your buyers are outside] if the buyers can come in and have a second look around the home.   Use this opportunity to have them befriend each other and discuss neighbours.

Are you ready?

Let's get started 

We don't meet people by accident; you were meant to cross my path

David Pylyp  647 218 2414

$10.00 Bad Debt Scuppers house purchase

How long should things stay on your credit file?
5 years ?
10 years?
Is there a statute of limitations?
Should it matter in 2015 that you filed a Consumer Proposal in 1980?

A recent situation came to light on a purchase transaction that an outstanding credit card balance of $10.00 had remained unpaid for eight years and showed R9   Revolving Charge Bad Debt.

Since there was no other credit information their home purchase was declined.

Another had a Bankruptcy filed in 1980 where a discharge as never recorded.  Who is responsible for this error?


You have a obligation to search your credit bureau annually and see what others are saying about you and if indeed it is accurate.   You have the right to challenge the information and provide proof that entries are disputed or provide proof that things have changed.

Need a conversation?

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Tuesday, February 17, 2015

Seniors on the Move - Smart Sizing

Seems that everyone in my peer circle is talking about their parent's houses!   Mom or Dad has finally decided to let go of the homestead. And they are looking at housing alternatives.  The dilemma becomes what to do with that stuff?

  • Donate
  • Estate Sale / Yard Sale
  • Dispose
  • Take with you to the new place
then, I received this email from Liz...

​​​​​​​Is it just me, or are a lot of seniors on the move?
This past  year, almost all of my new clients were seniors on the move. They were 'Right-sizing'. They were moving from a large home to a smaller one.
Why were they moving?  They were looking to let go of the challenges with older homes, large lots with landscaping & gardening, too much to clean & too many stairs. They were getting more 'real' with their needs now & not from the past.
My staff & I helped them to purge (unwanted items, including selling, donating & removal) pack everything & made all the arrangements for the move.Once they were in their new home, we un-packed & put away all of their belongings that made sense for the new home. Each one of them, without fail, was so glad to have made the move. We helped remove a lot of the stressors of the move & got them settled quickly.
Who do you know who, is considering 'Right-sizing' and might need some help?
Cheers, Liz
Liz Manore - President, The Company of Organizers Inc.905-467-2400www.TheCompanyofOrganizers.comFacebook: The Company of Organizers LinkedIn: The Company of Organizers Inc.Twitter: @Liztheorganizer

I read recently that any task can be accomplished if divided into half hour intensive bursts, or actually to have someone working with you to assist each decision.

Give me a call when you are ready.

David Pylyp
Accredited Senior Agent  647 218 2414 

Sunday, February 15, 2015

How long Should Appliances work after closing?

A client moves into a home, and within half a year the appliances all have to be replaced one by one. They were in good working order on closing. How do you address this?

With Home Insurance available from CHS Safe Close TM  
You are protected from irrecoverable costs related to Premium Home Systems and Appliance Breakdown for a 6 month period commencing 15 days post the closing of the sale.

Simply put, you are not only covered for appliances, you are also covered for major systems like your Central Heating System, Built in Wall Units, Central Air Conditioning, Heat Pumps, Interior Plumbing, interior Electrical or Owned Hot water Heater.

This exclusive offering is only available when you purchase your home with the David Pylyp Home Buying Team TM.   Insurance is provided by Rhodes and Williams Limited.

Call for details today. 647 218 2414

Saturday, February 14, 2015

Let's Negotiate the Maintenance Fees - Toronto Condo

In a recent Star Article the Author suggested that Maintenance Fees can be negotiated.

A Condo Building like a house needs operating expenses;
Heat, Hydro, Water, Garbage, Sewage are all controlled by the City or Province.

Now you have security, concierge, cleaning, repairs and maintenance.  IE elevators, gates, sidewalks, door openers, BBQ's etc.

What expenses will you cut?

Provincial requirements, like an adequate reserve fund to cover major maintenance and repairs, are also a major fixed cost, says Eracles, and those costs could increase further as the province revamps the Condominium Act.
But Gagliano strongly disagrees.
What’s needed, he stresses, are more condo boards with “the collective courage required to make difficult decisions” like reducing staff. (Selvagio points out that Indigo has 24-hour security, at owners’ insistence.)
Gagliano went line-by-line through The Toy Factory’s reserve fund, along with engineers who have to give it final approval, questioning every assumption of future costs, some far beyond a reasonable rate of inflation.

When a Building is finished, the owners move in and create the new condo Board. The New building OWNER's then commission a performance audit. Simply put. Did they deliver what we committed to purchase and is anything defective? The cash flow summary is what will break or need replacement in the next 30 years and where will that money come from. 

Would I buy a building that's 10 years old with ZERO reserve because some LUGGANS negotiated their way down with the licensed and regulated engineers?  [because nothing ever goes wrong......] 

You can answer that for yourselves. The reserve fund is an asset of the condo owners.

If you would like to talk Condo....   reach out 647 218 2414