How to host a successful yard sale

If your annual spring cleaning ritual has produced a mountain of unused and unwanted items, you may want to think twice before you simply toss them out. How about a yard sale to turn some of that "junk" into someone else's "treasure?"

Each weekend in spring and summer you'll find yard sales popping up in neighbourhoods everywhere. And, where there are yard sales, there are yard sale "junkies." For many people, scouring yard sales for a bargain on a Saturday morning is an art. Why not take advantage of that fact to make some cash off your cast-offs and have fun while you're at it.

The Ontario Real Estate Association and your local REALTOR® offer the following tips to host a successful yard sale:

First, settle on a date and time for your sale. Weekends are virtually universal for yard sales, and most run from 8 or 9 a.m. until 4 or 5 p.m. You'll also need to set a rain date, usually the next day if your sale is on a Saturday, or the following weekend if your date is Sunday.
Most sellers advertise by posting signs on lamp posts and hydro poles. This is a more effective way of letting people know you're open for business than you might suspect. Veteran buyers (see below for more) will scout a neighbourhood during the week looking for telltale flyers. Many of your customers will use this method.

Have someone present at all times. Theft is unlikely, but many sellers have learned the hard way that it does happen. Placing valuable items closer to your sales desk is a good idea.
Running out of change is also a problem that plagues many sales. As most of your transactions will involve small amounts, it never hurts to have $50 or more in small bills and loonies and twoonies at hand. Buyers will often stop at a bank machine before they come, so expect to get a lot of tens and twenties early in the day.

Think like a yard sale buyer. The ability to deliver the kind of goods and service that buyers want is perhaps the most important factor in the success of your sale. There are a number of items that are always in high demand: art, antiques (even distressed pieces), furniture, appliances, electronic equipment, tools, and lately, computer games and accessories. If you have goods in any of these categories, mention them in your flyer or ad.

Surprisingly, many veteran yard salers are not interested in old clothing. Unless you've got something special to offer, you can expect to turn much of your old wardrobe over to charity.
As to pricing your goods, nothing turns away a potential buyer more than a price that is too high. You can always expect haggling, but most won't even bother if you price an old lamp at $20, when similar items can be had for $5. The best plan of action is to attend a few sales the week before, and find out the going prices.

How you physically place your goods can also make a big difference. Don't clutter up your yard, and make sure your items are separated by category. This is a great opportunity to be creative. For example, there is a mini‑boom in memorabilia from the 50s, 60s and 70s. Believe it or not, the old Lava Lamp you consider trash, might be exactly what someone else is looking for.

Another good tip that will help make a sale is to offer free coffee to your visitors. A friendly face and a free cup of java can do wonders. Or if you want to get the kids involved, have them set up an old-fashioned lemonade stand and charge five cents a cup.

Depending on the type of items you're selling, you can expect to make as little as $20 or as much as a couple of hundred.

Finally, the success of a yard sale is measured by the amount of additional space you have in your house after the yard sale is over, and the amount of money you make. Now you may be tempted to run out and purchase more items that will likely end up in your next yard sale. But, why not celebrate your success by spending the money on dinner at a nice restaurant for the family and whoever helped at the sale.

REALTOR® is a registered trademark of REALTOR Canada Inc., a company owned equally by The Canadian Real Estate Association and the National Association of REALTORS® and refers to registered real estate practitioners who are members of The Canadian Real Estate Association. Used under license.

Don't Miss Out on this Opportunity

Get Your Home Energy Saving Audit Today!

For More Information Go to http://www.mei.gov.on.ca/en/energy/conservation/?page=ohesp1

Read Before Breaking Your Mortgage - By Rob Carrick

Hi Everyone,

We've got an interesting article we'd like to share with you from the Globe and Mail written by Rob Carrick published March 25, 2o10.

http://www.theglobeandmail.com/globe-investor/investment-ideas/read-before-breaking-your-mortgage/article1511428/

It's a very informative article that you don't want to miss out on.

Cheers.
Leslie Benczik Team

The Housing Market

STEVE LADURANTAYE a real estate reporter for the Globe and Mail wrote a really great article about the housing market. Have a read. Click on the link below.

http://www.theglobeandmail.com/news/national/frantic-housing-market-ready-for-calm/article1501678/


Enjoy,
The Leslie Benczik Team
Free Home Evaluations Anytime!
905-477-7766
1-888-762-7081

The Spring Market has really heated up!

How Can I Get Multiple Offers for My Home?

We are starting to see more inventory coming out and are talking to many sellers about whether holding offers to try to accomplish a multiple offer scenario is the right strategy for them and their home.

While multiple offers are still prevalent in today's market, there are a few key strategies for making sure your home is positioned well for this type of sale.

PRICE: Consider pricing your home just below market value to attract more buyers to your home vs. the competition. When we meet you with a comparative market analysis, we can help you determine the best marketing price depending on the strategy you are comfortable with.

STAGING: The condition of your home is very important, especially when buyers have more homes to choose from and you want to attract more than one offer. Consider hiring a professional stager to transform your home. As part of The Leslie Benczik Team's service, we provide a complimentary consultation with our professional home stager. Home builders spend thousands of dollars upgrading and decorating their model homes. When you put your home on the market, it's imperative that you set it apart from the other homes your buyer's may consider.

MARKETING: While it seems that buyers are everywhere today, as more listings hit the market, you need to differentiate yours from the competition. How and where your home is advertised is as important as the price and condition. It is our job as realtors to expose your home to as many people as possible. This results in more money for your home!

We are always happy to discuss a tailored strategy for you and your home!

Happy Spring Market!

Leslie Benczik Team

Low inventory levels set stage for heated Spring market in most major Canadian centres, says RE/MAX

Lack of inventory will be the greatest challenge facing housing markets across the country this Spring, according to a report released today by RE/MAX.

The RE/MAX Market Trends Report 2010, which examined real estate trends and developments in 16 markets across the country, found that unusually strong activity during one of the traditionally quietest months of the year has led to a sharp decline in active listings in 81 per cent of markets surveyed. The threat of higher interest rates, tighter lending criteria, and in British Columbia and Ontario, the introduction of the new HarmoSnized Sales Tax (HST) have clearly served to kick-start real estate activity from coast-to-coast, prompting an unprecedented influx of purchasers. As a result, 87.5 per cent of markets posted an increase in sales in January. Average price appreciated in 81 per cent of markets surveyed.
"There have never been so many motivating factors in play at once," says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. "We're in for a heated Spring market that will, in all probability, spill over into the summer months, as the window of opportunity draws to a close. The supply of homes listed for sale has been drastically reduced, housing values are once again on the upswing, and banks and governments are moving in unison toward stricter lending policies."

Source : Re/Max Ontario Atlantic
Wednesday February 24, 2010

Flaherty Moves to Cool Mortgage Boom

New Rules and Their Effects! Read More About What the Government is Planning On Doing! Great Article From the Globe and Mail, published by JEREMY TOROBIN, TARA PERKINS AND STEVE LADURANTAYE on Wednesday, February 17, 2010.

Read More Here http://www.theglobeandmail.com/report-on-business/flaherty-moves-to-cool-mortgage-boom/article1470693/?cmpid=tgc

GOVERNMENT OF CANADA TAKES ACTION TO STRENGTHEN HOUSING FINANCING

Ottawa, February 16, 2010 2010-011

The Honorable Jim Flaherty, Minister of Finance, today announced a number of measured steps to support the long-term stability of Canada's housing market and continue to encourage home ownership for Canadians. "Canada's housing market is healthy, stable and supported by our country's solid economic fundamentals," said Minister Flaherty. "However, a key lesson of the global financial crisis is that early policy action can help prevent negative trends from developing."

The Government will therefore adjust the rules for government-backed insured mortgages as follows:

Require that all borrowers meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter term. This initiative will help Canadians prepare for higher interest rates in the future.

Lower the maximum amount Canadians can withdraw in refinancing their mortgages to 90 per cent from 95 per cent of the value of their homes. This will help ensure home ownership is a more effective way to save.

Require a minimum down payment of 20 per cent for government-backed mortgage insurance on non-owner-occupied properties purchased for speculation.

"There's no clear evidence of a housing bubble, but we're taking proactive, prudent and cautious steps today to help prevent one. Our Government is acting to help prevent Canadian households from getting overextended, and acting to help prevent some lenders from facilitating it," said Minister Flaherty. "If some lenders aren't willing to act themselves, we will act. These measures demonstrate the Government is committed to taking action when necessary to support the long-term stability of a sector that is so vital to our economy and the financial well-being of Canadian families."

These adjustments to the mortgage insurance guarantee framework are intended to come into force on April 19, 2010.

To discuss how this affects your next real estate purchase, please contact us any time.

The Leslie Benczik Team
905.477.7766

Buying a home : What you can afford

If you're thinking of purchasing your first home, you probably have a lot of great ideas about what you'd like, but it may be time for a reality check. Most first-time buyers want their dream home right away. The best way to deal with this reality is to match your financial capabilities with the home that meets as many of your needs as possible.

Many first-time buyers purchase what is commonly known as a "starter home." There's nothing wrong with this approach. In fact, it's good common sense to avoid buying a home that will stretch your budget to its breaking point. Remember, the starter home is just that - a way to get started in long-term real estate investment.

To see how much you can afford, you should take a close look at your financial situation. The vast majority of home buyers lack the funds required to buy a home without assistance from a bank or other financial institution (commonly called a "lender"). So, for most of us, buying our first home means combining our savings with money borrowed through a special type of borrowing arrangement called a "mortgage." Borrowing to purchase is not only acceptable, it's desirable. Even people buying millions of dollars' worth of real estate borrow to make the purchase.

There are two types of costs in buying a home: the amount of money you'll need for the initial purchase; this consists mainly of the down payment and other costs such as legal fees and taxes; and the ongoing costs of paying back your mortgage, along with monthly operating costs for utilities, maintenance, insurance and annual property taxes.

Costs of buying a home =

* Down payment & * Mortgage

* Legal fees

* Utilities

* Inspection fees

* Maintenance

* Taxes

* Insurance

* Property taxes

When lenders assess your ability to buy, they look at your ability to pay both types of costs in determining how much money they will lend you. Before you ever visit a lender, you can predetermine this amount, using the same formulas they do. Lenders use several factors in judging your ability to handle a mortgage, including your income, employment record and credit worthiness. However, one way you can estimate the price range you can afford is to look at the amount of money you have available for a down payment.

The most common mortgage is a "conventional mortgage." In this type of arrangement, lenders will loan up to 75 per cent of the "appraised" value (estimated market value) of the property or the purchase price - whichever is lower. The remaining 25 per cent is the amount you will contribute as down payment. If you want to buy a home that has an appraised value of $200,000, a lender may loan you 75 per cent or $150,000 on a conventional mortgage when you contribute a down payment of $50,000. If you plan to borrow funds through a conventional mortgage, multiply the money you have available for a down payment by four. For example, if you have access to $40,000, you may be able to purchase a home with an appraised value of $160,000 ($40,000 x 4 = $160,000). This assumes, of course, that you have sufficient income to make the payments on a $120,000 mortgage (75 per cent of $160,000). Most lenders will not permit a borrower to take on a debt load the borrower can't carry. That's why reputable lenders "qualify" potential borrowers before issuing mortgages.

Most lenders say that your monthly housing expenses (mortgage payment and taxes), plus condominium maintenance fee, if applicable, would not exceed 30 per cent of your monthly gross family income. This is called your Gross Debt Service (GDS) ratio. Some lenders will go as high as 35 per cent, depending upon a number of variables. Lenders also use a second calculation in qualifying you for a mortgage. It's called the Total Debt Service (TDS) ratio. Generally speaking, no more than 40 per cent of your gross family income may be used when calculating the amount you can afford to pay for mortgage payments and taxes plus other fixed monthly expenses.
These other fixed costs are your ongoing commitments and can include auto, student or personal loans, as well as revolving charge accounts. Again, the 40 per cent calculation may vary slightly among lenders.

By knowing exactly what you can afford, you can make your home purchase with confidence.

Source: Ontario Real Estate Association

Marketing Your Home

If you're thinking of selling your home in the near future, you may think that all that's required is a "for sale" sign strategically placed on your front lawn -- but any real estate professional will tell you there's much more to it than that.

While a sign on your lawn is of paramount importance to the sale of your home, a well-thought-out marketing plan is also essential. Your realtor's marketing plan, of course, is another vital component in the process, and one of the first things he/she will discuss with you is a marketing strategy designed to give your home maximum exposure.

Keep in mind that effective marketing of your home requires a lot of communication between you and your realtor and there are several things you can do to make sure your home gets the best possible exposure.

Be Candid

Disclose everything you can about your property and information you have about the neighbourhood in general. This information will help us a great deal and we can choose how and when this information can be related to prospective purchasers. For example, there may be something about your home or the area you live in that you may take for granted, but that characteristic could be a major selling point for your home. It's also wise to be candid about any potential drawbacks as well, so we can be realistic in arriving at a suitable list price. Where possible, we are likely to have some suggestions as to how these problems can be improved upon. As well, we may notice some serious flaws in you home or even some basic elements that are missing. They may not bother you, but could work to your detriment when it comes to selling your home. As a result, we are likely to make helpful, reasonable recommendations that will enable you both market your home successfully. It's important to keep an open mind.

Operating Costs

It's also a good idea to have information on hand that will give your realtor an idea of the costs of running your home -- annual heating bills, along with documentation of any recent major repairs or upgrades -- such as a new roof or new wiring or plumbing. These can be very effective marketing tools.

Clean and Clutter-Free

Before any showing or open house, it's imperative to make sure your home is clean and uncluttered -- both inside and out. Get rid of junk (don't forget the garage) and any unpleasant odours from smoke, cooking or pets. A neat exterior is inviting and a clean and neat interior just makes good, plain marketing sense. Consider having your home painted. It's a relatively inexpensive way to show it in its best light. Meeting with a home stager is another great idea for showing your home in its best light.

Stay Informed

Your realtor should keep you informed by following up after each showing and providing you with a weekly update on how the marketing of your home is progressing. By the same token, if you have any questions or ideas, don't hesitate to share these with us.

You'll find that a team effort, combined with a realistic approach will help you market your home much more effectively.

Source: Ontario Real Estate Association

Is it time to "move up?"

Chances are when you bought your first home in Markham or Stouffville, you were thinking of it as a "starter home" and dreamed of owning a larger and better home one day. With today's mortgage rates in the lowest range they've been for almost 30 years, you might be pleasantly surprised that you can afford that "move up" house now. Using the equity you've built up in your current home, your carrying charges may not be much larger than what you've been used to paying. If you're curious to find out, us to help you calculate carrying costs on a "move up" home.

There are many reasons why you may wish to have a larger home including a growing family, the desire to have more bedrooms so the kids can have their own space. Or maybe you want a larger yard, a garage or a home with a private driveway. Whatever your reasons, moving up to a new home can be very satisfying. It's also a smart move because the equity in your home will continue to grow and the value of a bigger and better home will be ultimately greater over time. As well, the pride of ownership in a bigger house will probably be even greater than you had when you bought your first home.

When you decide that moving up is the way to go, be sure to enlist our services. Your options can be confusing at times, but we can help you make the right choices. We will help you determine the market value of your current home and therefore the price range you should be considering in a move up home. You'll need to determine where you want to move. Do you want to stay in the same neighbourhood or move on? There are almost as many individual choices on location as there are homes.

Moving up to meet your changing lifestyle and needs can be an exhilarating experience. Your home is probably the best investment you'll ever make so why not take advantage of current market conditions and enhance your investment today.

Source : Ontario Real Estate Association

Do I Buy when I Haven't Sold My House?

Buying a home today is different from February of 2009. Last year buyers had more homes to choose from in Markham, Unionville, Cornell, and Stouffville. This year, with interest rates still very low – there are not as many homes for sale.

People hear of homes selling in multiple offer situations. So how do you buy if your dream home comes on the market and you haven’t sold your own home?

Call the Leslie Benczik Team to give you a free home evaluation and ask us
About our guarantee home selling program. We have been actively selling homes this year in Markham, Unionville, Cornell and Stouffville.

Talk to us – we are here to help selling and buying home as stress free as possible.

Written by Rosemary Mauro, Sales Representative
Leslie Benczik Team, Re/Max All-Stars Realty Inc., Brokerage
www.GetBenczik.com

Sales Start Off Strong in 2010

February 3, 2010 -- Greater Toronto REALTORS® reported 4,986 transactions through the Multiple Listing Service (MLS®) in January 2010. This result represented a large increase over the 2,670 sales in January 2009 when the home sales were in a recessionary trough. Last month’s sales were slightly higher than the January average in the five years preceding 2009.“The GTA housing market has rebounded well from the lows in sales experienced at the beginning of 2009. Sales climbed back to healthy levels across the GTA because the cost of home ownership remained affordable in the Toronto area,” said TREB President Tom Lebour. “Increasingly confident consumers moved to take advantage of affordable home ownership.”The average home selling price in January 2010 climbed 19 per cent to $409,058, compared to 343,632 in the same month last year.“Expect strong annual growth rates for existing home sales and average price through the first quarter as we continue to make comparisons to the weak market conditions at the beginning of 2009,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “The rate of sales and price growth will be lower in the second half of 2010.”
Median PriceIn January, the median price was $350,000, from the $303,000 recorded during January of 2009.

Source: Toronto Real Estate Board

No Change to the Bank of Canada Rate

The Bank of Canada has left the key lending rate as is at 0.25%. There has been no change since April 21, 2009.

According to the January 19th report, “Conditional on the outlook for inflation, the target overnight rate can be expected to remain at its current level until the end of the second quarter of 2010.”

The Bank of Canada introduced a system in 2000, of eight dates each year to announce any changes to the target rate.

The next meeting will be on March 2, 2010.

Current Mortgage Rates

Prime Rate 2.25%

Variable Open Prime +.60%
Variable Closed Prime - .20%

1 Year Closed 2.55%
2 Year Closed 2.95%
3 Year Closed 3.45%
5 Year Closed 3.89%
7 Year Closed 5.25%
10 Year Closed 5.34%

**Lower “quick close” rates available

CINDY MASON
MORTGAGE AGENT,
FSCO LIC.# MO8004144
MORCAN FINANCIAL INC.
Tel. 1-800-441-5425 ext. 1
Cel. 1-800-441-5425 ext. 2
Fax. 905-852-1379
cmason@morcan.ca

Home Buyer's Check List

Home Buyer’s Checklist

For most people buying a home would represent the largest purchase they will ever make in their lifetime, therefore it is essential to make sure that any home, new or old, is inspected by a qualified and insured home inspector prior to finalizing any transaction. Real estate sales representatives fulfill an important role in this process as well and can save you time, money and aggravation by pointing the important factors that will determine the value of your new home.
Below you will find a check-list that will help you identify some of the issues that would come up on the home inspection report:

Exterior
Driveway and Walkway – Cracks and level (interlock)
Trees – Size and proximity to house.
Foundation – Cracks and slopes (down spout and -grade away from foundation)
Garage door – Age, condition of paint and condition of wood, safety sensors.
Fascia, Eaves trough – Type and overall condition (wood/aluminum)
Roof – How many layers of shingles and how old? Noticeable repairs and defects (sagging)
Chimney – Condition of bricks and mortar.
Doors & Windows – Are there any signs of leaks or rot? Do they open and close properly? (settlement)
Air condition unit – Age, signs of rust. (check noise if working)

Interior
Floors – Type, age and condition (are they leveled or squeaky?)
Walls & Ceilings – Any signs of cracks or leaks? Any discoloration? (ceiling underneath bathroom)
Kitchen – Age, type, condition of appliances (any signs of insects? leaks?)
Bathrooms – Condition of tiles and overall fixtures. Is there a vent? Any signs of mildew?
Windows – Any signs of water leaks? Condition of wood and overall operation.
Patio door – Age, type, condition of locking mechanism.
Fireplace – Type(wood/gas)? does it function properly? Condition of mantel?

Basement
Finished or not? – Water leaks? Water trails on foundation, walls, carpets, windows etc.
Cracks – Are there any major cracks in the floors or walls. (settlement cracks)
Ventilation – Is it adequate? Is there any sign of moisture?
Windows – Size, how many? general condition, any window well?
Furnace – Age, type, signs of rust, what kind of filter? Is there a humidifier?
Water heater – Type (gas/electric), size and general condition. Is it a rental?
Electrical system – Type (fuses/breakers), size (60/100/200 amp) wiring (aluminum/copper)
Plumbing – Type of water and waste lines (plastic/galvanized) water pressure? Overall drainage?
Termites – Any signs of mud tunnels, damaged wood or wing sheds.

PLEASE NOTE!! IT IS STRONGLY RECOMMENDED TO USE A HOME INSPECTOR PRIOR TO PURCHASING ANY HOME.


Alon Hillel
Sales Representative
www.GetBenczik.com

We Have Motivated Buyers Looking For A Home

If you are looking to sell your home in the Markham, Stouffville, Unionville or GTA, we might have the right buyer for you!

Markham/Unionville Area
- 2 Bedroom Condo at Hunt Club or Austin Building, 1,800-2,300 Sq. Ft.
- Unionville 4 Bedroom Home with In-Ground Pool, $650K-$850K
- Bungalow or Semi-Bungalow with Basement Apartment, $350K-$450K

Stouffville Area
- URGENT buyer looking for a newer 2,800-3,200 Sq.Ft. Home in Stouffville, $500-$600K
- Stouffville Estate Lot with Pool & Finished Basement $675K - $750K

If you are thinking of selling your home please call us at 905-477-7766. The market is very active and it's a great time to sell!

We give Free Home Evaluations, Any Time, No Cost, No Obligations!

What is a Home Energy Evaluation and why should we care?

A Home Energy Evaluation is an audit performed on a residential property by an Energy Advisor that's been licensed by Natural Resources Canada. The goal is to assess how energy efficient and environmentally friendly your house is. The Energy Advisor will assess this by examining your existing heating and cooling systems, measuring drafts coming through windows and doors, examining ductwork and plumbing, etc. The Advisor will provide you with a report that gives an "EnerGuide Rating" to your home, along with recommendations on things you can buy or implement to improve your home's energy efficiency.

The table below illustrates the typical EnerGuide Rating based on type of house.
Home EnerGuide Rating Chart

Type of House / Average Rating
Older house not upgraded /0 - 50

Upgraded old house / 51 - 60

Energy efficient upgraded old house or typical new house / 66 - 74

Energy efficient new house / 75 - 79

Highly energy efficient new house / 80 - 90

An “advanced house” that uses little to no purchased energy / 91 -100

ENERGY EVALUATION TO SELL YOUR HOME
Of course, if you are considering selling your home, being able to show a report with an acceptable or above-average EnerGuide rating to potential buyers will make your home more attractive.

In the near future, Energy Audit reports may be required as a condition of selling your home. There are a few variables, and a few directions that legislation can go, so I won't get into all the details here.


ENERGY EVALUATION WHEN STAYING IN YOUR HOME
A happy biproduct of having an Energy Evaluation is that by purchasing items or services that your advisor has officially recommended, e.g. Install a new furnace, replace a toilet, you become eligible for huge rebates from both the federal and provincial government.

Therefore, if you're considering doing a renovation anyway, it definitely makes sense to invest in an audit because it may allow you to apply for rebates for items you may have been planning to purchase all along.

This table is an example of just some of the grant amounts available to owners of Single Family Residences from the Federal and Ontario provincial government:

Item / Grant
Windows, doors, skylights (must be Energy Star compliant)
/ $80 per unit replaced
Instantaneous hot water heater (must be Energy Star compliant)
/ $750
Low flush toilets (max of 4 units per home)/ $130 each


I hope you find this information helpful! Bottom line is, implementing Energy Efficient systems in your house is a way to save the environment, save you money, and add value to your house.


Susan Taylor
susan@getbenczik.com
Salesperson
Leslie Benczik Team
Re/Max All-Stars Realty Inc., Brokerage

Fasten your seatbelts, home buyers

Rob Carrick from The Globe and Mail had published a great article early this month. If you didn't catch it, here is the link to the article title "Fasten your seatbelts home buyers." (Published Tuesday, January 5, 2010).

This article is definitely worth the read. http://www.theglobeandmail.com/globe-investor/personal-finance/fasten-your-seatbelts-home-buyers/article1419098/

Enjoy!