Carl Stars - Burlington Ontario Real Estate Condominium MLS Listings » Buying A Home

UPGRADES TO REALTOR.CA

Carl — Tue, 24 Jan 2012 20:36:45 +0000

Upgrades to REALTOR.ca enhance, improve and simplify the user experience

Published December 1, 2011 Uncategorized Leave a Comment

Ottawa, ON – December 1, 2011 – Earlier this week, a new version of REALTOR.ca was released. This version introduces exciting new features and tools that allow users to customize REALTOR.ca to find what they’re looking faster and easier.

Collapsible panels on the map search page for customized views (Red arrow #1)

The map search page is currently divided into three panels with the search criteria on the left, the interactive map in the middle and the property thumbnail list on the right.
Users can now collapse either the criteria panel or the thumbnail panel to have a larger image of the map, allowing much greater flexibility in customizing their view of REALTOR.ca

Draw an area – Custom map search tool (Polygon Map Tool – BETA format) (Red arrow #2)

Using their mouse, users can now draw free form shapes on the map to more accurately define the location criteria for their search.
Users will be able to map a specific neighbourhood or region and use that as their location criteria to find properties that are located within the defined area.
The map tool is being released in BETA format as we continue to fine-tune its capabilities.
Please note – we are continuing to improve functionality and enhancing the user experience.

Auto-sizing to fit high resolution (HD) monitors

Currently REALTOR.ca’s display area is a fixed size on every monitor. The new version will automatically re-size itself to eliminate the white space now seen on high resolution (HD) monitors.

Social media links

REALTORS® and Offices now have the ability to display links to their Facebook, Twitter and LinkedIn pages.

SAVING MONEY ON UTILITIES

Carl — Wed, 07 Dec 2011 19:08:58 +0000

I THOUGHT IT WOULD BE INTERESTING TO INITIATE A ENERGY SAVING PROGRAM. OUR HOUSE DOES HAVE ELECTRIC HOT WATER. TWO ADULTS NO CHILDREN. WE IMPLEMENTED LAUNDRY ON WEEKENDS. UNPLUGGED ALL PHANTOM POWER. WE ALSO GOT IN THE HABIT IF YOUR NOT IN THE ROOM TURN THE LIGHTS OFF. AFTER A FEW WEEKS IT BECAME THE NORMAL. IT WAS VERY ANNOYING AT FIRST. OUR HYDRO PLAN WAS 153.00 A MONTH. SINCE WE STARTED WHAT I CALL CARL'S ENERGY PLAN OUR LATEST BILL CAME IN UNDER 200.00 THATS LESS THAN 100.00 A MONTH. I AGREE TIME OF USE BILLING IS A PAIN IN THE BUTT AND I THINK IT IS UNFAIR TO PUNISH SHIFT WORKERS. NONE THE LESS IT CAUSED US TO TAKE A LOOK AT OUR CONSUMPTION. MY COUSIN CAME OVER AND CALLED OUR HOUSE THE BAT CAVE BECAUSE IT WAS SO DARK. I IMAGINE SAVING $ 53.00 A MONTH IS NOT THAT SIGNIFICANT TO SOME PEOPLE BUT A FAMILY OF FOUR WITH YOUNG CHILDREN I THINK IT IS SUBSTANSIAL. WHATEVER YOUR OPINION ON THE HYDRO ISSUE HERE ARE THE RESULTS.

2011-12-05	BILLING Electric 144.11 Water 24.04 Sewer 24.04	192.19
2011-12-01	PAYMENT	153.00
2011-11-01	PAYMENT	153.00
2011-10-05	BILLING Electric 204.28 Water 28.55 Sewer 28.55	261.38
2011-10-03	PAYMENT	153.00
2011-09-12	PAYMENT	20.00
2011-09-01	PAYMENT	153.00
2011-08-12	BILLING Electric 237.45 Water 34.18 Sewer 34.18	305.81
2011-08-02	PAYMENT	153.00
2011-07-05	PAYMENT	200.00
2011-07-04	PAYMENT	153.00
2011-06-03	BILLING Electric 283.80 Water 37.55 Sewer 37.55	358.90

Customer Service The best advertising there is !

Carl — Tue, 15 Nov 2011 14:15:45 +0000

Recently I have made a few transactions. One was a furniture delivery that resulted in delivery guys destroying my house. The usual not taking shoes off. Leaving hand prints on the wall. Ripping a thermostat of my wall. After two weeks of Pain we purchased another set from a different store with success.

Throughout that week my wife and I encountered "horrific customer service". Being in Sales I find it funny when walking into a retail store and the sales clerk says "may I help you" OF course I reply no thanks Im just looking. A professional would introduce themselves and say Im here to answer questions and if you need me I would be right over here. Leaving me time to shop.

After a very long week we did go to a store "speedy auto glass" in Burlington where the service was outstanding. Now these guys totally get it. They were awesome.

I realize in Real Estate there is customer service, and then there is exceptional customer service. The best way to monitor how you are doing in your business is if you your business can rely on "word of mouth" service. How often to you get a card where the sales rep informs you referrals are the life blood of my business, but doesn't give you the service.

I am proud to say my business thrives on referrals and I have to do very little self promotion.

After a week of basiclly receiving "horrible" service I have been reminded how important it is to raise the bar on customer service.

So if your business or company is slow, take a look and examine your business. Are you giving and being the best you can be.?

Real Estate Profits and Retirement

Carl — Tue, 25 Oct 2011 16:24:25 +0000

Recently I had a client contact me who's only concern was profit in this real estate boom. I recently read the Wealthy Barber Returns by David Chilton and was so happy to read his book. His views are very similar to mine. We all understand his viewpoint but do we do it? I fail to understand the following? Why do clients focus so much on Mortgage Rates But don;t pay of their credit cards ( which is much higer interest) ? Why do clients use there home line of credits to excess , when they fail to realize they are actually renting? Why do clients ignore other wealth building income producing investments? Why are clients only concerned with investment potential rather than buying a house that will make them happy? We are on a good run and eventually when and if interest rates go up it will cause some diffulculty for new home owners that have too much consumer debt. As a Realtor I will always push clients to buy a home THEY CAN TRULY AFFORD. I realize I may be unique and I value the referrals I receive from my clients but I have never gone for the quick sale. I always try to help clients. To me real estate is shelter and although and important part of your retirement it is not the only component. I am very concerned about the consumer debt out there and feel we have to focus on basic fundamentals of real estate to avoid pitfalls in the future. We need more books like the wealthy barber and less books by the so called experts.

What goes around comes around….

Carl — Fri, 29 Jul 2011 16:45:11 +0000

A month ago or so I was showing houses and showing signs of being tired. Sounds crazy but showing houses can be tiring. It is rewarding when your buyer finally finds a home.

I was on a way to a showing in Burlington and I stopped into a Tim Hortons. What I did wrong was a I cut a lady off in the Tim Hortons drive through. I felt bad but did not notice her car . When I got to the window I payed for my coffee and payed for the order behind me. It was a small gesture but cutting off someone when you dont mean too is a crappy feeling. Im sure she was surprised when she got her donut and coffee for free. I figured oh well its not much but at least I did something to correct my ways. The counter person also apoligized on my behalf as I was not in a position to leave my car.

In Real Estate or any self employed business you learn quickly what goes around comes around. Well funny thing I was in Costco last week in Burlington. I did not have cash and the lunch counter is cash only. So I went to the ATM machine to get cash. When I returned the counter person said you dont need any money.

A lady had paid for my lunch and drink ! ! You are hearing of this pay it forward thing and I have not looked into it. But I am so amazed that I received this gesture from a complete stranger.

It just goes to show what goes around comes around. I do believe most people are good people but we do sometimes get sidetracked. But the lunch at Costco (Hot Dog and a Coke ) never tasted so good. The rest of the day was a gratifying one as there was only positive thoughts for the rest of the day . Its a good day when you are above the ground.

March Update

Carl — Mon, 07 Mar 2011 19:08:00 +0000

Recent stats that have recently come in indicate an 8% increase in house prices since last year in Burlington. For surrounding areas such as Hamilton we are enjoying a 3.7% increase.

I still have too many clients that are coming back to me and clearly they have used their homes as a line of credit. Consolidate "run" the credit cards up again consolidate and the road to no where continues ! !

As of this morning there are 561 Active Listing in Burlington which includes Condominiums. Inventorys are low and interest rates are low. Give credit to the government right now who are consistently warning Canadian's to pay down their personal debt.

Consumers most realize a $ 200,000 mortgage at 3% is approximately $ 948.42 amrt 25 years and should rates go up to 7% the payment jumps to $ 1413.55.

A home is a great investment but it is only one component of wealth building.

Mortgage changes are here !!

Carl — Mon, 17 Jan 2011 14:53:03 +0000

1) Maximum amortizations to be reduced from 35 yrs to 30 yrs

2) Refinance(equity take outs) of existing mtges to be reduced to a maximum loan-to-value of 85%

I personally welcome these changes. I have always hated paying more interest than necessary to the banks ! ! I hope this helps consumers realize houses are not ATM machines. The private lenders will benefit as some people facing the need for a second mortgage unfortunately may have to refinance at higher interest rates.

Buying Real Estate

Carl — Mon, 10 Jan 2011 19:15:43 +0000

Thinking About Buying Your First Home?

With interest rates low, many renters are starting to think about purchasing a home of their own. While simple rental cost vs. mortgage cost comparisons can be very attractive, buying a home is a serious commitment, and there are many factors to consider:

How long you plan to live in the home.
Selling a home costs money. If you potentially may have to move in the short term, the value of your home may not have appreciated enough to cover the costs of buying and selling.

The length of time that it will take to cover those costs depends on various economic factors. Average appreciation tends to sit at around 5% per year. In this case, you should plan to stay in your home at least 3-4 years to cover buying and selling costs. The real estate market can be particularly volatile, however, and dramatic swings up and down are not uncommon.

How long the home will meet your needs.
What features do you require in a home to satisfy your lifestyle now? Five years from now? People tend to remain in homes longer than they initially intend, primarily due to the work and expense associated with moving. Therefore it is worth considering a home with room to grow. Could the basement be turned into a den and extra bedrooms? Could the attic be turned into a master suite? Having an idea of what you’ll need will help you find a home that will satisfy you for years to come.

Your financial health – your credit and home affordability.
Is now the right time financially for you to buy a home? Would you rate your financial picture as healthy? Is your credit good? While you can always find a lender to lend you money, people with poor credit tend to pay far more to borrow.

Some say that you should refrain from borrowing as much as you qualify for because it is wiser not to stretch your financial boundaries. The other school of thought says you should stretch to buy as much home as you can afford, because with regular pay raises and increased earning potential, the big payment today will seem like less of a payment tomorrow. It is, however, important to stay within your comfort zone. Purchasing a house involves many up-front and ongoing costs, and the stress of worrying about those costs often outweighs the satisfaction that may come from owning a slightly nicer home.

To determine how much home you can afford, talk to a lender or go online and use a home affordability calculator. Good calculators will give you a range of what you may qualify for. Then call a lender. While some may say that the “28/36″ rule applies, in today’s home mortgage market, lenders are making loans customized to a particular person’s situation.

The “28/36″ rule means that your monthly housing costs can’t exceed 28 percent of your income and your total debt load can’t exceed 36 percent of your total monthly income. Depending on your assets, credit history, job potential, and other factors, lenders can push the ratios up to 40-60% or higher. While we’re not advocating you purchase a home utilizing the higher ratios, it’s important for you to know your options.

Where the money for the transaction will come from.
Typically, homebuyers will need some money for a down payment and closing costs. However, with today’s broad range of loan options, having a lot of money saved for a down payment is not always necessary – if you can prove that you are a good financial risk for a lender. If your credit isn’t stellar but you have managed to save 10-20% for a down payment, you will still appear to be a very good financial risk to a lender. High-ratio mortgages can be a good option for those who haven’t managed to save a large chunk of money (who has?), but naturally, these have additional costs associated with them.

The ongoing costs of home ownership.
Maintenance, improvements, taxes, and insurance are all costs that are added to a monthly house payment. If you buy a condominium or townhouse, a monthly homeowner’s association or maintenance fee will be required. If these additional costs are a concern, you can make choices to lower or avoid these fees. Be sure to make your Realtor® and your lender aware of your desire to limit these costs.

If you are still unsure if you should buy a home after making these considerations, you may want to consult with an accountant or financial planner to help you assess how a home purchase fits into your overall financial goals.

Inventorys remain low again !

Carl — Mon, 01 Nov 2010 17:40:11 +0000

As of today the total active listings in Burlington remain at 680. Despite all the theorys and "experts" . The fact of the matter in Burlington , Ontario inventorys remain low and we do have an active market.

Recent changes to mls will add more exposure of private sales, however agents will be negotiating their commissions with some Sellers direct. It is unclear how these rules will change mls if at all. ( In a already very competitive business)

Realtors do provide a valuable service without question , but as we all know Buying and Selling real estate can have high emotions. The Realtor must remain grounded and professional and not get caught up in the drama.

In a hot market and slow market Patience is a virtue .

There is no shortage of buyers especially in the low price range of Burlington $ 200 to $ 260 applying more pricing pressure on the Condominium Market.

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Facebook Fan Page : New Facebook Fan Page now live and on line. Hope to make it another excellent source of information.

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Carl

How to calculate Land Transfer Tax

Carl — Fri, 20 Aug 2010 17:04:10 +0000

ONTARIO GOVERNMENT LAND TRANSFER TAX COSTS

On transfers of residential real property in Ontario, Ontario Land Transfer Tax (LTT) is calculated on the purchase price (less a calculation regarding HST, if the property purchased is a newly built home). The Ontario land transfer tax is payable by the purchaser on the purchase price upon registration of a Transfer/Deed of Land in the Ontario Land Registry Office on closing based on the following upward sliding scale:

0.5% on the first $55,000 of the purchase price, plus

1.0% on the amount exceeding $ 55,000 up to and including $250,000, plus

1.5% on the amount exceeding $250,000 up to and including $400,000, plus

2.0% on the amount over $400,000.(Be aware that for non-residential properties, such as industrial or commercial real estate, there is no 2% charge since the tax rate is 1.5% for any amount of purchase price over $250,000 regardless of the total price.)

Example:
The Ontario land transfer tax on a property transferred for $200,000 is calculated as $275.00 on the first $ 55,000 (0.5% = $ 275.00), plus $1,450.00 on the next $145,000 (1.0% = $1,450.00), for a total of $1,725.00.