Interest Rates are very low , I have seen 4.99 for 10 years at 3.65 for 5 years.

Certain pockets in Burlington we have seen some very slight price declines in Condos but for the most part, for example I have been in 3 Bidding wars in the last few weeks.

So if it is priced right, staged  I argue it is not a Buyer's Market.

Statistics never seem to match whats going on ?? Just a thought .

I have had a great deal of inquiry's regarding the local Burlington Real Estate Market and I am expecting a very busy fall.

For a updated Market Evaluation in Burlington/Hamilton  go to carl@carlstars.com.

Have a great Fall  Season !!

Carl

Dont ignore curb appeal and outside landscaping. The trick is to keep things simple , Grass cut small gardens and the  improvement should add significantly to the enjoyment of the home.  Here is the Before and After shot of a deck in Dundas .

When your selling its important to get your home ready on the outside not just the inside.  

HST is 13% . It is considered value added Tax.  

If you are Selling your home:

Real Estate Agents who normally charge 5% GST on commissions will have to charge 13%. This is regarding resale homes and is on the commission only. This  will be on July 1, 2010. There are some exceptions but on a regular resale home. This is the tax that would apply.

If you are buying a Resale home extra costs will be incurred HST will be charged on home inspections, legal services, high ratio mortgage premiums, fire insurance premiums.

OREA estimates the HST will add $1,449 in new taxes to an average resale home costing $302,354. And, OREA claims the HST will add an estimated $262 million in new taxes annually to residential resale real estate transactions.

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RE new Homes:  Builders would use the same process they use with regard to GST. The Buyer must qualify for the rebate. ( The new home would be a primary residence )  Clarify your HST before signing on the dotted line and read the fine print.

Under the HST, new homes worth less than $400,000 will qualify for a 6% tax rebate, but new homes worth more than $400,000 will be subject to an additional 8% tax. To explain if a buyer pays $500,000 the net tax would be $ 16,000.00 after receiving the rebate of $ 24,000.00

Here are some helpful Links.

http://www.servicecanada.gc.ca/eng/goc/gst_new_housing.shtml

http://www.fin.gov.on.ca/english/index.html

http://www.rev.gov.on.ca/english/guides/rst/206.html

http://www.cra-arc.gc.ca/tx/bsnss/tpcs/gst-tps/menu-eng.html

All information deemed reliable but not guaranteed.  Please seek the advise of your tax professional and contact government agency to clarify your costs. As I  deal with residential resales it appears the impact will be minimal. I encourage real estate to be a long term investment.  Hope this information helps.

Carl

1948: “Houses cost too much for the mass market. Today’s average price is around $8000… out of reach for 2/3 of all buyers.” Science Digest, 1948

1969: “The goal of owning a home seems to be getting beyond the reach of more and more Americans. The typical new house costs about $28,000.” Business Week, 1969

1970: “You might well be suspicious of ‘common wisdom’ that tells you, ‘don’t wait, buy now.’” NEA Journal, 1970

1977: “The median price of a home is approaching $50,000. Housing experts predict price rises in the future won’t be that great.” Nations Business, 1977

Kinda makes me want to hop in a time machine and buy a few of those “out of reach” $8000 houses in 1948! Despite what the “experts” might say - it’s always the right time to buy the right piece of real estate!

I came across this post on the active rain real estate network and thought it would be interesting.  Article has been reposted for www.carlstars.com  for all your real estate needs. 

Carl   

Article Provided by Jamie Carrol Vancouver Washington

The S&B Real Estate Team assists people in buying and selling real estate throughout Southwest Washington. We are proud members of Keller Williams Realty – Premier Partners in downtown Vancouver. Our local expertise covers: Vancouver, Battle Ground, Camas, Washougal, Brush Prairie, Hockinson, Ridgefield, Woodland and La Center. If you or someone you know is considering living or investing in Clark County, please contact us. Jamie Carroll can be reached at 360-609-6775 or via the “Contact Us” page at www.MyRealtorIsJamie.com. Steve Borwieck can be reached at 360-241-7305 or via the “Contact Us” page at www.SteveBSellsHomes.net. We are here to help!

We need your help.

The Ontario Real Estate Association is urging the provincial government to amend Bill 150, the Green Energy Act, to make home energy audits voluntary.

Mandatory home energy audit reports can cost home sellers thousands of dollars in lost home equity. Those with less than ideal energy audit ratings will face pressure from homebuyers to either spend thousands of dollars to improve the energy rating of their home or lower their sale price.

Your e-mail will reinforce the message OREA will be sending to the Government of Ontario when we appear before the Standing Committee on General Government on April 22^nd.

Please tell your MPP that the government should be helping Ontarians achieve their dream of homeownership by amending Bill 150 to make home energy audits voluntary.

Send an e-mail to your MPP on this issue now by clicking here.

Thank you for your help.

Issue Summary
Press Release
OREA Government Relations on Facebook
OREA Government Relations on Twitter

Ontario’s Budget 2009 dealt the real estate market a significant blow with the announcement of the harmonization of the Provincial Sales Tax (PST) with the federal Goods and Services Tax (GST).

The Provincial government will, starting July 10, 2010, convert the PST (8%) to a value-added tax structure and combine it with the GST (5%) to create a single federally administered harmonized sales tax. The single sales tax would have a combined tax rate of 13 per cent.

Under the government’s proposal, new homes under $400,000 will be exempt from paying the HST.New homes priced between $400,000 and $500,000 will receive a reduced rebate based on a sliding scale (details are yet to be finalized). Homes over $500,000 will be taxed at a harmonized rate of 13%.

The price of resale homes will continue to be exempt from sales taxation under the proposed HST. However, for the first time, services associated with resale closing costs will be subject to both sales taxes, under the proposed sales tax harmonization, legal fees, real estate commissions and home inspection fees will get taxed at a harmonized rate of 13 per cent. Currently, these services pay only the GST at a rate of 5%. OREA estimates that these new taxes on services related to resale transactions could add over $2,000 to a resale home transaction.

In response to the Government of Ontario’s proposal, OREA issued two ‘Call for Action’ notices to all REALTOR® members, asking them to send an email to their MPPs and alert their clients about the detrimental impact of a HST on housing. To date over 11,500 emails and letters have been sent to MPPs at Queen’s Park, the Premier and the Finance Minister.

If you are against the HST Please contact your Local MPP.

Whether you’re buying or selling a home, you’re likely to experience a roller coaster of emotions. It’s important to keep your feelings in check during every situation, especially since many people fall victim to their emotions when negotiating the final offer.Make sure you don’t take things personally. Letting emotions rule judgment usually causes negotiations to fall apart. Now is the time to think of your home as a house, so don’t be offended if someone wants to strip off your wallpaper or paint over the wood trim. Often times, home owners who have invested many years of hard work and personal love into a home are put off by a low offer even though it’s just a starting point.Conditional offers can also try your emotions as they sometimes fall through and lead to disappointment. Real estate involves a lot of negotiation in order to get the best deal and low balling is another tactic that can lead to disappointment. This is where an attractive price is initially offered only to be adjusted at a later point claiming that circumstances have changed. The result is that your hopes are raised while you envision yourself in the home. Recognizing these common negotiation strategies will help you keep a balanced perspective.

If you’re lucky enough to generate multiple offers on your home, make sure you look at more than just the price that’s being offered. There’s nothing worse than accepting an offer that’s over the asking price only to have it fall apart later on when you could have accepted a firm cash offer that was almost as good. Pay close attention to not only the purchase price but also the closing dates and any conditions included in the offer.

Always undertake extensive research before buying a home in order to avoid emotional shopping. You need to know not only your financial limit when purchasing a home, but also how much work you’re prepared to put in. Falling in love with a ‘fixer upper’ when you’re looking for a house that’s in move in condition will probably end up being a mistake. Making a hasty decision based on an emotional reaction will likely lead to buyer’s remorse.

It’s also very important to control your tone of suspicion in negotiations even if you have reason to believe a deal is shaky. Accusing someone of being dishonest is never going to win you any points in real estate. Maintaining professionalism and reason is essential in negotiating a fair deal. Having a Realtor as your third party negotiator is critical when buying or selling a home, as not only are they able to provide objective information but they can also help remove emotion from the negotiating process by eliminating direct contact with the other side.

It’s completely normal for home buyers and sellers to experience a full range of emotions as they go through the complex real estate process. Just remember not to take things personally or let your emotions rule every decision. Keep a cool head and it should be smooth sailing!

ARTICLE PROVIDED BY REAL ESTATE WORLD/CARL STARS NEWSLETTER

A proven real estate strategy, used by successful home sellers and realtors across North America, home staging is the art of preparing and packaging a home for sale. When your home is listed for sale, it becomes more than just a home; it becomes a product on the market. Just like any other product, there’s a lot of competition, ranging from new homes with carefully appointed display suites to the multitude of resale properties within the same price range.

Home staging is about showing your house in its best possible condition. It includes the basics like cleaning and painting but also includes creating space and defining spaces with furniture and accessories.

Tips on Preparing for Home Staging:

Remove all clutter from the house Inspect all walls and floors Vacuum carpets Clean and polish tiles or hardwood floors Clean all Kitchen & Bathroom surfaces Pet owners: is the house fur-free? Consider purchasing or renting furniture to replace any worn items

Click here to read more on Home Staging.