Your rental property can be seized as Proceeds of Drug Money Laundering

Here is the situation;

Couple owns a few rental properties that they rent to [second chance] ex cons, people down on their luck, homeless people trying to re establish themselves, low income housing.

Police decide that rent payments made to the Landlord in cash must be the proceeds of crime since the only form of income for the tenant is dealing drugs.

This very scenario is playing out right now in the Ontario Courts under the Civil Forfeiture Act.  

Here are the details in Broad strokes;

Margaret and Terry Reilly are from Orillia, Ontario. The Reilly's own several rental properties, some of which are former single-family homes that they have converted into rooming houses for low-income tenants. Margaret has been involved in alleviating poverty and homelessness since her father became the priest at an inner-city Anglican church in Toronto and opened a youth hostel there, while Terry has served on the City of Orillia Homeless Committee. Providing housing to marginalized members of society has always been a deliberate choice for the Reilly's.In 2008, after police surveillance confirmed drug activity at two of the Reilly's rental properties, a branch of the government called the Director of Asset Management took control of them. Since then, the properties have languished largely unoccupied, falling into progressively worse repair. Stripped of their rights as landlords, the Reillys had no choice but to watch their properties deteriorate physically and depreciate in value. Then, in 2012, the Government of Ontario brought a motion to permanently seize and sell the properties on the grounds that some of the tenants’ rents may have been paid, in part, with the proceeds of their drug activity. There is no evidence that any funds paid by tenants was derived from drug money; the state merely assumed that cash payments must have come from the proceeds of illegal activity. http://theccf.ca/r-v-reilly-civil-forfeiture/ 

This property(S) were seized under the Forfeiture Act without anyone being charged.
This family has NEVER had their day in court but had their property taken away.

The lesson here is monitor your tenant activity; visit twice of more time per year to ascertain the activity in YOUR PROPERTY.   Be more diligent in your tenant screening. Bad things can happen to good people. 

#ASKPYLYP

Use a realtor to screen tenants in your rental condos.

Ready to invest?   If  I haven't scared you call me at 647 218 2414
http://Davidpylyp.com 

AirBnb is finished inside Toronto condo

Now it is up to the individual condo boards to remove them from the buildings.



The condominium declaration in this case provided that the units could only be used “for the purpose of a single-family dwelling, which includes a home office . . .  and for no other purpose.” The declaration did not contain any provision which specified a minimum lease term for any rented units.

 OCSCC No. 961 v. Menzies, the Ontario Superior Court of Justice concluded that the short-term leasing of a condominium unit was in essence the operation of a hotel and thus constituted a breach of the single-family provisions in the condominium declaration and also a breach of the condominium rule that prohibited leases with terms of less than 4 months.

http://www.lashcondolaw.com/ontario-court-decision-on-short-term-rentals-in-condominiums/

I think that is rather conclusive.  You?

Would you like to talk about condos?

Ping me or email

Why is AirBnB Bad?

Condos are fighting back against AirBnb

• Wild parties
• Never Ending Visitors
• Over Use of Common Elements
• Owner Apathy causes values to decrease   

Pick one!

Here's what Lash Condo Law had to say...
What do you think? 

With the growth in the “sharing economy”, many condominiums have been forced to turn their minds to the issue of short-term rentals.  While some investor owners are listing their units on short-term rental sites in order to maximize the revenue generated from their units, many resident owners do not welcome short-term rentals.From the perspective of resident owners, short-term rentals have negative ramifications:§ They detract from the sense of community that many residents desire
§ There are increased concerns about safety with so many strangers coming and going at all hours
§ There is increased wear and tear on the common elements
§ Inappropriate behavior by many short-term renters interferes with the quiet enjoyment of residents
§ The condominium is in effect an unlicensed, unregulated hotel.
Without any legislation that prohibits short-term rentals in condominiums, many condominium corporations are finding it quite challenging to put a stop to this type of activity in their building. However, there have been recent reports in the media about some condominium corporations that are winning the battle against short-term rentals.CBC News reported about a condominium where owners were able to successfully oust from the board, directors who favoured short-term rentals, even though the condominium documents prohibited rentals for a term less than a year. In this case, there were two short-term rental companies that leased units from investor owners and then in turn, advertised and rented the units on a short-term basis and had been doing so for five years.  It took two years for the resident owners to get control of the board so that the prohibition on short-term rentals in the condominium documents would be enforced.The Globe and Mail recently reported about a condominium concierge who was spending several hours a day scanning short-term rental websites looking for units being offered in his building.  He was also keeping a diligent lookout for strangers arriving with luggage and refusing to allow them entry into the building.While it may not be easy or quick to put a stop to short-term rentals, these two stories show that it can be done.Click here to access our Practical Guide to Short-Term Stays (Hoteling), which provides practical steps to condominium boards to effectively address this issue.

 What do you think? 

David Pylyp
http://Humberbayshore.com

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

http://variety.com/2015/dirt/real-estalker/jennifer-lopez-pocket-lists-hidden-hills-estate-1201419521/  

Toronto has more millionaires per capita than any other city in North America, and they love their privacy and anonymity.  http://www.macleans.ca/news/canada/99-reasons-why-its-better-to-be-canadian/


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

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

What is it about you that is different?

We need a truly open and transparent system that has the consumer's confidence.  MLS.ca that is now Realtor.ca

Not harboring secrets - which is really just a simpler, easier-to-execute conception of “transparency” - can be really powerful.  We have all heard the phrase The truth will set you free.

I am a Realtor with RE/MAX Realty Specialists. Inc.  here in Toronto

I have been practicing real estate sales for over 25 years now.

I love what I do 

I enjoy providing real estate services to my clients because I feel that I provide them with much more than just buying and selling advice or real estate opinion.

I go well beyond that....

Being able to provide them with a common sense approach...

Its really important for me to maintain long term relationships with my clients.

We find that within our Accredited Senior Agent group we can draw on the skills and resources of many different people, expertise in Appraisal, Taxation, Donations of goods,  to much needed Financial and Retirement Pension Income Planning.

This works very well for our Mature Clients.

I'm always looking for ways to improving what I do and offering that added service to my clients.

I feel the need to get the information to Home Owners and especially Boomers. There are so many issues with aging and clients not having the proper information.

The way I do this is through Social Media. So whether it is Video, through my website, through blogs, or thru Facebook and Twitter, 

I make sure, almost on a daily basis, I'm communicating with my audience.

Etobicoke Real Estate; Is really about dealing with people and their needs.

How can I help you?    Call me!  @ 647 218 2414 

Can a single image define your brand?

I am trying to develope a singular video image that will relay who and where I am in less than 2-3 seconds as an intro for video's  

Branding Can you articulate your USP?: How could I better describe I'm in Toronto?  A single Concept to visually engage you to stay a few seconds or minute longer on my video
There is huge competition for attention span



Is image A or B better?

If I can help you reach out.... 

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

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.

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 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

Why Bother owning a Home.

Home ownership is family’s life – both financially and from a quality of life perspective. You invest in your neighbourhood and community, put down roots, let your equity grow tax free of capital gains. When its paid off or before, you can refinance and pay for weddings or university ( again ) of your cottage.

http://www.cbc.ca/news/canada/story/2012/09/21/home-ownership.html
Home ownership is often connected to the notion of living the “American dream.” But it is as much a part of Canadian identity as it is in the U.S.

Indeed, statistics show that the percentage of home ownership in Canada is edging close to 70 per cent, which is actually higher than the ratio south of the border at the moment – 65.4 per cent, a 15-year low, according to the most recent data. Many economists believe the Canadian government has played an active role in spurring home ownership, particularly by forming the Canada Mortgage and Housing Corporation back in 1946.

“I don’t know that home ownership should be a right and that it should be backed by taxpayer dollars and kind of be the prime mandate of a Crown corporation,” says Ben Rabidoux, creator of the Economic Analyst blog, which looks into housing and mortgage trends.

DO you agree that we should all live in government provided housing?  After all, why would you want to be debt free in your house, decide what you want to so repair repaint or resell.  Move according to your schedule?  When you downsize to a retirement home? wouldn’t that money come in handy?  Most don’t have substantial savings at retirement other than their home equity.

What do you think?

Competition Bureau and Consumers VS Organized Real Esate

The Competition Bureau has been outspoken about Real Estate practices and access to data.  The solution of a VOW may not bring the intended effects.  The Toronto Real Estate Board went for the Hail Mary pass with a procedural Charter Challenge...

But Vistnes argues more open access would put more information — and power — in the hands of consumers and bring an end to costly and questionable real estate practices.
Making commission agreements public, for instance, might discourage realtors who now refuse to take potential buyers through homes where the owner has negotiated a lower commission, pushing them instead to other homes that may be less ideal but have better payoff.
It would also be more obvious when an agent is engaging in “gaming” — removing a property that’s been languishing on MLS for weeks and reposting it a day later to create the illusion of a new listing, says the report. That can be a red flag to buyers that a home is overpriced.
Consumers would also be able to tell when a realtor has acted as both the listing and the buying agent, a “conflict of interest” that occurs in about 10 per cent of all GTA transactions, says Vistnes, who analyzed several years of TREB’s MLS data.
By denying a new generation of Internet-savvy homeowners and buyers access to information, as travel agents did years ago, realtors remain the only real “gateway” to critical property details, says Vistnes.
“VOWs are not simply a vehicle by which consumers can access raw MLS data and conduct searches. Brokers can also offer VOW-based tools through which consumers can then analyze those data,” says the report.
“VOWs often attract buyers by offering a convenient means to search listings, to learn details about individual listings, to learn how home prices differ by neighbourhood, to see how quickly homes are selling and the extent to which final prices differ from the list prices and, in some cases, by offering a commission rebate.”

There are some glaring inaccuracies;

Realtors acting for both parties are indeed in a conflict of interest. You sign for and specifically acknowledge whether you are receiving Customer Service or Buyer Representation.  The solution is to  Bring your own agent!   Yet, Consumers, feel they will SAVE by using only the Listing Agent. Client or Customer? 

Posting and reposting listings to the MLS system is easily solved when you use your own agent to search the property history and provide an impartial CMA when purchasing the home.

Undisclosed  closing costs are dealt with in a detailed summary of costs, expenses and proposed funding costs available here.  This is used with each transaction.

Commission rebates sound wonderful;  What about those listings posted by REALTORS who post one penny or one dollar to selling broker?  The Sellers set the commission payable to selling broker when they list the house.  Listing agents do not necessarily "SPLIT" listing fees equally. No. They may discount their fees to induce you [listings] into a transaction. 

Lenders will not permit you to add your purchase expenses, surveys, loan application fees, appraisals,  lawyers fees, land transfer taxes, taxes on CMHC insurance to the purchase price of the  house in addition to Real Estate fees that you committed to in the Buyers Representation Agreement. What do we do when the commission is ZERO? *

* It is not my responsibility to explain your options to you as an unrepresented Seller or Mere Listing.  My duty is to get the best deal for my client. 

VOWs will permit; an out of Territory Agent to post your home for sale  IE  Windsor or London or Burlington Posted to MLS.ca.  They then field those inquiries.  That listing may or may not appear on the Toronto System.  Are all potential Buyers viewing your home? 

More power into the hands of the consumers Yes!  I am in favour of the VOW's.  I am also favour of real Brick and Mortar offices where complaints or disputes can be aired, meetings take place, and  live telephone answering occurs.  Those appointment front desks are the lifeblood of getting your listing seen and showings booked.  What services will I continue to provide? 

Personally I think it permits Brokerages /Agents to provide a lower level of service under the pretense of SAVINGS.   More data requires context.   Context needs insight and experience.  That's what I provide.  Add your comments...

Will we slip into Recession?

Excessive Taxation, Overheated bidding Wars, Lack of Inventory, Inner City Issues, Transit, Tightening Mortgage Rules, Reduced Amortizations, Double Land Transfer Tax in Toronto, Proximity to Employment;

What is your hot button issue?   Have we hit the tipping point for bidding wars?

The Toronto Real Estate market seems to be slowing, pensive, waiting for a sign....  or is that a stall?

TREB figures released mid September;

September 18, 2012 -- Greater Toronto Area (GTA) REALTORS® reported 2,544 transactions through the TorontoMLS system in the first 14 days of September. This result was down by 15 per cent compared to the 2,995 sales reported during the same period in 2011.

“The combination of stricter lending guidelines, rising home prices and the added upfront cost associated with the land transfer tax in the City of Toronto resulted in a slower pace of sales during the summer of 2012 compared to a year ago,” said Toronto Real Estate Board (TREB) President Ann Hannah.

The average selling price for sales during the first two weeks of September was $496,786 – representing an annual rate of increase of more the 9.5 per cent. Average selling prices were up for both low-rise and high-rise home types, including condominium apartments sold in the ‘416’ area code.http://www.torontorealestateboard.com/market_news/release_market_updates/news2012/nr_mid_month_0912.htm

The CBC Peter Mansbridge and Crew have interesting conversation.  Worthy of the time investment.   Interesting conversation about employment incomes, spin off employment from construction and rebuttal and how discretionary spending from your personal piggy bank [Home Equity Line of Credit] has been curtailed.

http://www.cbc.ca/player/Shows/Shows/The+National/ID/2281458681/




Following up on CENSUS DATA released Sept 2012, the Normal family is now blended.  This is further confused by a generation that doesn't leave the nest;  Read the balance of the article here. http://www.thestar.com/news/canada/politics/article/1259537--census-data-shows-more-young-adults-opting-to-live-with-mom-and-dad-in-905-regions



Conversations with colleagues, as we show and inspect houses, is that there is hesitation. We are starting see price reductions posted on desirable properties.  Where IF you over priced by 5% you merely waited 5 or 6 months for the market to catch up.

What do you think?
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David Pylyp
Accredited Senior Agent
RE/MAX realty specialists inc., brokerage

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