Markham/Stouffville Tomato

How to host a successful yard sale

2010-04-22T08:19:00.000-07:00

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

2010-04-01T12:50:00.000-07:00

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

2010-03-26T13:28:00.000-07:00

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

2010-03-17T11:59:00.000-07:00

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!

2010-03-06T06:44:00.001-08:00

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

2010-02-26T17:23:00.000-08:00

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

2010-02-19T07:02:00.000-08:00

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

2010-02-19T05:33:00.000-08:00

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

2010-02-16T05:33:00.000-08:00

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

2010-02-14T16:12:00.000-08:00

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?"

2010-02-09T14:08:00.001-08:00

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?

2010-02-08T05:32:00.000-08:00

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

2010-02-06T16:27:00.000-08:00

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

2010-01-28T07:28:00.000-08:00

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

2010-01-27T13:55:00.000-08:00

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

2010-01-25T08:29:00.001-08:00

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?

2010-01-22T15:24:00.000-08:00

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

2010-01-21T12:49:00.000-08:00

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!

Harmonized Tax - How Will It Affect Me?

2009-12-11T07:39:00.000-08:00

With the introduction of the harmonized tax on July 1, 2010 resale homes will be exempt from PST. The real estate commission fee with be subject to PST and GST.

New homes over $400,000.00 will be subject to both PST and GST.

If you are thinking of selling - take advantage of this strong sellers market and list your home sooner rather than later.

Rosemary Mauro
Salesperson
Re/Max All-Stars

Home Renovation – How can you save $$$

2009-12-02T12:23:00.000-08:00

Wow... The government is helping us renovate our homes!
Yes, it’s true. The Federal and Provincial government teamed up and will pay you up to $10,000 through grants and rebates.

How does it work?
To qualify for Canada ecoENERGY grants, and matching Ontario government rebates, Ontario homeowners must get a home energy assessment before and after their home improvement work. As of this moment these programs are in effect until March 31, 2011.

The first step is to book a home energy audit with an Ontario Energy Advisor. Your Advisor will help you make the right energy saving choices for your home and describe the benefits and limitations of the program. Next, it’s time to upgrade your home and finally have your advisor come in for a second audit in order to document all the improvements and report back to the government. The time between the 1st and 2nd audits should not be more than 18 month, which is plenty of time to finish all the work necessary.
The 1St audit cost about $325 and the 2nd is a $150. Some companies, like Sears, will rebate you $150 towards the audits.

Below are few samples of rebates available:

Furnaces — high-efficiency gas or oil, up to $1,580
Central air conditioners — replacement $500
Hot water heaters — condensing gas $750
Hot water heaters — tank-less gas, condensing-type $750
HRV — heat recovery ventilator $750
Solar — hot water system $2,500
Attic or roof — insulation up to $1,500
Exterior wall — insulation up to $3,750
Basement — insulation up to $2,500
Crawl space — insulation up to $2,000
Air sealing — for your home up to $860
Windows & doors — $80 for each replacement unit
Toilets — $130 for each replacement unit

Last but not least is another great incentive that will save you money by renovating your home - The Home Renovation Tax Credit (HRTC). The HRTC is a non-refundable tax credit based on eligible expenses for improvements to your house, condo or cottage. It can be claimed on your 2009 income tax return only. It applies to work performed or goods acquired after January 27, 2009, and before February 1, 2010.
The HRTC applies to eligible expenses of more than $1,000, but not more than $10,000, resulting in a maximum non-refundable tax credit of $1,350 [($10,000 − $1,000) × 15%].

For more information visit the following websites:
http://www.taxtips.ca/filing/hrtc.htm
http://www.homeperformance.com/

Alon Hillel
Sales Representative

Preparing Your Home To Sell!

2009-11-30T07:17:00.000-08:00

Some tips and tricks for showing your home in it's best light:

- Clean up, dust, and hide the clutter.

- Pack away any personal items in cupboards or closets. This may include photo frames of
family and friends covering the surfaces of your home.

- Any toys that belong to your children or your pet should be put away, as well as your pet's
food and water bowls.

- If any repairs are needed to be done to the walls or furniture, have them done in advance.

- The bathrooms should also be clean and tidy, with a clean set of matching towels on the towel
rack.

- Turn on the lights! If you don't think the lights in your home are bright enough, you can
always buy a few floor lamps.

- You can lighten up a dark room or dark furniture with colourful pillows and throws, or neutral
area rugs. If you still think some places are too dark, let the photographer know so they can
bring extra lighting.

- Open up the drapes and blinds. It will look good from the inside of the house and the outside.

- Clean the windows to get rid of all dust and visible streaks.

- If you can, get rid of any extra furniture from the bedrooms. The rooms should look as simple
as possible, so as not to look small.

- A vase of fresh flowers on the kitchen or living room table never hurts to add some colour.

- Don't forget about the exterior! Put away garbage cans, prune the bushes, and make sure the
lawn is mowed.

- If necessary, have your driveway power-washed.

- If needed, have touch-ups done the the exterior paint job.

- If you have a garden, make sure to weed it, and also check the weeds in your driveway and
patio.

- Make sure your gutters, roof, and the rest of your property is clear of twigs, leaves, and other
debris.

- Wind up exterior hoses, and put away any outdoor children's toys in the garage.

- If you have a pool or hot tub, uncover it, and make sure it is clean.

- Check to make sure the address numbers on your house or mailbox are straight.

- Think like a buyer. Think about what made you purchase your home and show off its best
assets. Be prepared. Know ahead of time which rooms will be photographed so you can set
them up properly.

- Before the photographer arrives, move all vehicles out of the driveway or away from the front
of the house. This is to ensure a great exterior shot, and also any interior shots that might
include the view of outside.

- Lastly, clear the people and/or pets out of the house as much as possible to make the process
easier for the photographer. Everything will run quickly and smoothly this way.

A Piece of Heritage

2009-11-06T12:16:00.000-08:00

Over the years Markham has become a safe haven for Heritage Homes. In a town increasingly blanketed with housing developments and subdivisions, the Markham Heritage Society was able to preserve some of our heritage by keeping a lot of homes from being demolished.
While many heritage homes are scattered all over Markham, one pocket was uniquely created for that purpose. Heritage Estates, which is located off 16th Ave just west of Markham Rd. has become a sanctuary of last resort for threatened historic houses and is very unique in North America. Created by the Town of Markham, the neighbourhood includes 38 homes and has room for 5 more. Among these are a number of homes built by the Berczy Settlers, their descendents and some of the Pennsylvania German Settlers attracted to Markham by the existing German settlement.

The lots in the town owned subdivision are sold to owners of heritage buildings at below market value with the caveat that the heritage properties are relocated to the site and restored. The savings on the price of the building lot is designed to offset the cost of relocating the structure to the subdivision. The sale of the lots is also conditional on the completion of period landscaping as part of the restoration to insure that the buildings sit on those lots are keeping with the historic nature of the building.
For more heritage homes locations visit the following website: http://www.historictours.ca/default.asp

Did you know? Heritage property owners get tax relief
A number of Ontario municipalities have initiated programs to provide tax relief, grants and loans to heritage property owners. Under the Ontario Heritage Act, municipalities can not only pass bylaws to formally designate properties of cultural heritage value or interest, but they also have the authority to offer financial relief to designated heritage property owners such as Heritage Property Tax Reduction Program, Heritage Loan Program, Commercial Façade Improvement Grant and Commercial Signage Replacement Grant.
Note that programs vary from one municipality to another and may exist in one, while not in another. If more authoritative information is required, reference should be made to the relevant legislation or to the municipal office in which the property is located. In all cases however, to be eligible for the programs the property must be designated under Part IV (individual property designations) or Part V (heritage conservation districts) of the Ontario Heritage Act.
For eligibility check with the town of Markham: http://www.markham.ca/Markham/Heritage/

Alon Hillel
Sales Representative
www.GetBenczik.com

FREE SEMINAR - NOVEMBER 12, 2009 @ 7:00PM - Please R.S.V.P

2009-10-23T11:33:00.001-07:00

The Leslie Benczik Team* is Hosting A

FREE SEMINAR
Setting The Stage for Multiple Offers
Learn How to Get TOP Dollar for Your Home in Today's Market

Special Guest Speakers
***DOOR PRIZE***

Thursday, November 12, 2009
At 7:00 P.M.
At the Old Unionville Train Station
7 Station Lane, Unionville

Invite Your Family, Friends & Neighbours!
Light Refreshments Will Be Served

Please R.S.V.P by Tuesday, November 10, 2009Call Tiffany or Frances at 905-477-7766
*Re/Max All-Stars Realty Inc., Brokerage

What's up with the number "four"?

2009-10-23T08:38:00.001-07:00

You may have heard that last week, the Town of Aurora has decided to let residents apply to change their addresses if their street number “4”. Some Asian cultures consider the #4 to be unlucky.

It’s made the local news – City TV ran a segment (click here to watch), and the Toronto Star ran an Article (click here to read) last Friday.

The number “4” is not the only superstition that can affect the value of your home. A front door facing a “T” intersection is also considered unlucky by some Asian cultures. There are some Eastern cultures that prefer a kitchen on the East side of the house. Some South Asian cultures believe the number “5” is unlucky. And the list goes on!

Rightly or wrongly, all cultures have at least some superstitions, and it’s important to be aware of anything that may affect the value of a property you own or are considering to purchase.

It’s also important that your realtor is sensitive and savvy on these subtleties and can market your home appropriately, or ensure you’re aware of any issues some cultures might have with a house you’re buying. You might not be superstitious, but when you’re ready to re-sell, you might find that a whole demographic group is not interested because of a certain feature that is in conflict with their beliefs.

Of course another question would be: is the Town of Aurora confusing visitors to their Town by switching up street addresses? Late last year I had the opportunity to list a home for sale in Cornell, Markham, with the street address of #4. I spoke with the Town of Markham to understand their policy on changing house numbers, and was told that Markham used to offer it years ago, but there became too many requests and it got too crazy. In an emergency, ambulances and police need to be able to get to an address quickly. If a house were to change its address from a #4 to a “#2a”, for example, it could mistakenly result in emergency workers wasting time by knocking on the backdoor of the real #2 instead of the house next door.

I was told by the Town of Markham that it might consider changing an address if the next number is available (e.g. the street is currently numbered 4, 8, 12, etc., a 4 could be changed to a #6). Or, if a house sits on a corner, the Town might consider switching its street name address to that of the other street.

But again, this information was provided to me a year ago, so it will be interesting to see if Aurora’s decision has any impact on other cities in York Region.

http://citynews.video.citytv.com/video/45101909001/Is-The-Number-Four-On-The-Outs-In-Aurora-/

http://www.thestar.com/news/gta/article/711189--may-the-4-s-be-with-you-not-on-aurora-s-streets

Buying New Construction

2009-10-19T15:21:00.001-07:00

In today's market we are assisting more buyers with their purchase of New Construction real estate. There are some great deals out there.

Here are some things to consider before visiting builder's offices & model homes.

1. Work with a Realtor. In many cases, your realtor has invitations to special sales and events that are not available to the general public. The sales person at the new home site works for the builder. It is not their job to represent you as a buyer. Many builders will cooperate and pay your realtor to represent you. In those cases, you will have full representation at no additional cost to you. Choose a realtor with experience in new home/condo sales. Representation can save you thousands of dollars and headaches in the future. Remember that in most cases you do have to have your realtor with you the first time you visit and register at the builder's site/sales centre. This also applies to registering online.

2. Model Homes/Suites. Model homes/suites can be very tempting. They are usually upgraded with all the most gorgeous finishes available. Make sure you ask: what's standard and what's an upgrade. Discuss upgrades you think you'll make with your realtor. He/she may be able to negotiate upgrades on your behalf.

3. Recission Period "Cooling Off Period". When buying a condomium in Ontario, a buyer will have a ten (10) day cooling off period. That means that you can cancel your contract with the builder by giving notice in writing within ten (10) days. Keep in mind that this is not banking days and refers to any ten (10) day period. This applies to condominiums only and homes do not qualify. Discuss this with your realtor, builder and lawyer before signing a firm agreement of purchase and sale for a home or a condominium.

4. The Contract. Builder's contracts are almost always written in favour of the builder. That's the way it is. However, understanding your contract is extremely important. Very often there are additional charges embedded in the agreement. In addition to discussing these additional costs with your realtor and the builder, it is highly recommended that you take your agreement to your lawyer for review. Keep in mind that unless this is a condominium purchase, you will have you write a condition in your agreement for your lawyer to have adequate time to review your documents.

5. Conditions. Discuss this with your realtor. You may want to add conditions for financing, home inspection (depending on the extent of work completed on your home), lawyer's approval, etc... Your realtor can advise you on conditions depending on the circumstances surrounding your transaction.

6. Deposits. The realtors on the Leslie Benczik Team have had success negotiating deposits and timelines for such deposits. This can vary depending on the market conditions and particular builders, however, the deposit structure is an area you may want to consider negotiating.

7. Tarion New Home Warranty. Many new homes today, if brand new and not a conversion project, come with a Tarion Warranty. This is a very helpful program which can bring peace of mind to your experience of purchasing new construction. Depending on the type of home you are purchasing, your realtor can explain the details of your Tarion New Home Warranty to you. While this will be included with your purchase, you may be required to pay the enrollment fee under the adjustments in your contract.

8. Upgrades. This is the fun part! Upgrading your home can be enjoyable! Make sure you go to your design consultation with a plan and a budget. Consider upgrading the things you can not or will not do on your own. Builder's upgrades can be costly, however, things to consider upgrading if it makes sense for your budget are: hardwood flooring, smooth ceilings, fireplaces, kitchen, bathrooms, trim, gas hook ups, bathroom roughed ins (basement).

9. Closing Dates. It is not uncommon for builders to be delayed. Check with your builder on a consistent basis as to whether or not they expect to be on time. This is especially important if you are selling your current home or giving notice to a landlord. There are cases where closing dates just don't match up, so have a back up plan for where you can stay short term if your closing date is delayed at all.

More information is available at www.tarion.com

Your Best Investment Is the Roof Over Your Head

2009-10-15T17:44:00.000-07:00

JOHN HEINZL

From Globe and Mail

September 22, 2009 at 7:42 PM EDT

What if I told you there was an ultrasafe investment that paid 6 or 7 per cent annually, guaranteed? Would you be interested?

No, it's not a Ponzi scheme. It's not a stock, either. Neither is guaranteed, in case you needed any reminders after the past year.

And it's definitely not a guaranteed investment certificate. These days, you'd be lucky to earn half of that on a five-year GIC.

So what is this fabulous investment opportunity I'm talking about? It's paying off your mortgage.

I believe – and I know some of you will scoff at the notion, but hear me out – that paying off your mortgage is the best investment you could make. Period.

Why? Because, even with today's ultralow mortgage rates, it's almost impossible to find an investment that is guaranteed to yield a higher after-tax return than you'd get by paying your mortgage down – the key words here being guaranteed and after-tax .

Let's look at an example.

Suppose you have a fixed-rate mortgage at 4 per cent, which is about the lowest rate you can get right now on a popular five-year term. So, for every $100 in principal, you'd be paying $4 in interest annually.

Now, let's say you make a lump-sum payment of $100. You'd be saving yourself $4 in interest, for an effective after-tax return of 4 per cent.

That's pretty good, right? But it's even better when you consider what you'd have to make on a taxable investment to generate the same return.

If you're in a 40-per-cent tax bracket, for example, you'd have to earn 6.7 per cent on a GIC to end up with 4 per cent after Ottawa takes its pound of flesh. If you can find a GIC that pays anything close to 6.7 per cent, let me know.

Remember, we're talking here about guaranteed returns. Sure, you might do better in the stock market. You could also do a lot worse. The beauty of paying off your mortgage is that the return is risk-free.

(True, inside an RRSP interest income isn't taxable, but you'd still have to find a guaranteed 4-per-cent return to match the benefit of paying down your mortgage. But the highest five-year GIC rate now is about 3.3 per cent. You'll always encounter such a spread, which is how banks make money.)

That raises the question: If the math is so favourable, why don't more people focus on paying off their mortgages early? David Trahair, an accountant and author of Enough Bull, says the wealth management industry has a vested interest in encouraging clients to accumulate financial assets. After all, the more assets a client has, the more the adviser makes in fees and commissions.

“If you pay your mortgage off [aggressively], you have no money to invest with them,” he says.

He adds that, unlike in the United States, mortgage interest in Canada is not tax-deductible, which is another reason it makes sense to focus on becoming mortgage-free as early as possible.

Of course, by fiddling with the assumptions, one can make paying off the mortgage look like a terrible idea. If one assumes, for example, that the stock market will generate returns of 10 per cent annually, then investing in stocks is the way to go. But that's all it is – an assumption – and if you're prepared to take the risk, then go for it.

Let me be clear: I am not against owning stocks. I own some myself. A few are even higher than they were a year ago.

On the other hand, in these uncertain times – with the recovery still fragile and stocks having already had a big run – a guaranteed return counts for a lot.

That's one reason Derek Moran, president of Smarter Financial Planning Ltd. in Kelowna, B.C., puts “every extra cent we get” into his mortgage, even though he has a very low variable-rate mortgage.

“I'm a big fan of paying it down because I don't think interest rates are going to be this cheap for that long, I really don't,” he says. “The after-tax return on paying off debt is quite good ? and you're taking risk off the table.”

Once your mortgage is paid off, you can always borrow against your home and invest the money, he says. In that case, as long as you're earning investment income, the interest would then be tax-deductible. As for emergencies, a credit line should suffice.

Focusing on paying off the mortgage has other benefits, both financial and emotional. It's a forced savings plan, and it gives you a goal to work toward. When you finally pay the mortgage off, you'll have far more financial flexibility – to invest, save for your kids' education, cut back to part-time work, live on one salary instead of two, take a vacation, or countless other things.

So the next time you're sweating about where to invest for the highest – and safest – return, look no further than that roof over your head.

School Ranking and Home Values

2009-10-06T10:42:00.001-07:00

Often we notice an influx of home buyers rushing to
A certain area and we wonder why…..?

Neighborhood characteristics such as school quality, taxes, public services and capital investments have a very significant affect on the value of your home. People tend to pay significantly more for properties in locations with top notch schools, nice parks, light traffic and access to public transportation so it is very important that you choose wisely if you are shopping for a new home.

One of the most common questions asked by home buyers is how the school district in a particular area is? And the most accepted measure of quality is the EQAO score. The EQAO test is administered to students in grades 3 and 6 and it measures 2 basic components which measures benchmarks in Ontario with regards to Math, Reading, and Writing. Whether or not the scores accurately reflect a school’s quality is another debate altogether but this score does provide a comparative measure. Good public schools are always in demand and in turn affect real estate values. Presumably, home buyers are willing to pay a premium for public schools that are considered better than average, just as supermarket shoppers are willing to pay more for name brands than for generics.
Typically, communities with high scoring school districts appreciate more or in a down market, depreciate less than communities with low scoring school districts. As a result, many eagerly await the EQAO scores.

For the best performing schools in York Region check the following website: http://eqao.yrmg.com/index.php (click on the link or cut and paste to your browser)

Alon Hillel
Sales Representative

2009-10-02T10:20:00.000-07:00

Where are all the houses for sale? They've all sold! This market is unbelievable. A house gets listed, and if it’s priced reasonably and shows well, it sells!! And quickly! In the past, the guidance I would give people was to sell first before buying something new. Now, no way! No worries that your house won't sell...so buy first to make sure you'll have somewhere to live when your home sells! The good news is that your house will sell, and if it shows well and is priced within the ballpark, it will fetch a good price!

Why is this market so nuts? Because of Change! The Bank of Canada has indicated interest rates will go up by June 2010 if inflation rates remain in check… So buyers are out in droves to buy while the rates are low. Sellers, however, think that prices are still going up and want to hold out. Or maybe they just can't find a new house to live! Why is it so rarely a balanced market? Wish I knew.

Saw a GREAT speaker at the Fall Re/Max Sales Rally on October 1. Craig AlexanderSenior Vice President & Deputy Chief Economist, TD Bank Financial Group, spoke with us about market trends and what’s likely to happen in the real estate market in Canada and the GTA in the near future. Here’s what I took away from his presentation:

There was nothing structurally wrong with Canadian economy, but we got a shock to our Export business due to the US Economy. However, Canadian Provinces should return to growth by next year. Canadian housing prices and sales dipped late last year and early 2009 but because the Bank of Canada was so quick to respond by dropping interest rates to all-time lows, housing prices rallied after that dip despite the recession in other parts of our economy. Alexander thinks that right now we are half-way through this Sellers market, and as housing prices rise, the housing market will become more balanced.

Inventory of unsold homes in the USA is lessening. However, a “healthy market” is defined as having 4 months of inventory (i.e. when 1 in 4 homes for sale are selling in a month) and the USA still has 8 months of inventory. Housing prices in the U.S. may drop another 5%.

Consumer spending in the USA is improving, although slowly. In part, this improvement has been spurred by government incentives such as “cash for clunkers”. The US consumer market makes up 70% of the US economy, so consumer spending is critical. Alexander says that Americans have lost $14 trillion in wealth and spending will be slow to rally. Now is a good time to buy real estate in the USA.

Back in Canada, the Bank of Canada a few weeks ago decreed "the recession is over", however this is a very broad statement. The Leading economic indicator of any economy is the state of the stock market, which is typically about 2 months ahead of the economy...and after a deep dive, it started to rally in March of this year. The Lagging economic indicator is typically the labour market, and this is why it still may feel like a recession now.

Susan Taylor

Good Time to Buy, Good Time to Sell!

2009-09-03T11:37:00.000-07:00

For those stats-junkies out there, here are some numbers for recent housing sales in Markham.

In August 2009, there were 298 home sales in N11* with the average sale price being $450k.

Compare this to 172 home sales in August 2008 with the average sale price being $465k.

At the same time, while the average sale price is slightly down, a higher percentage of homes are actually selling: In August 2008, only 25% of homes on the market sold in the month. Same period this year, almost 100% of homes are selling.

This is good news for both buyers and sellers…… Hear me out!

For Buyers, housing prices are cheaper. End of story.

For Sellers, while they might get less money for the home they sell today, they will also pay less money for the house they purchase next. And, a higher percentage of homes are selling. Last year in August, only 25% of homes on the market sold in the month. Same time this year, almost 100% of homes are selling.

Houses are selling quickly, of this there is no doubt. If you are thinking of selling, you are now in the fortunate position of not having to wonder “if” your home will sell, but “for how much” it will sell.

If you are going to sell your home in this climate, the important thing is to align yourself with a Real Estate Team that is going to get you the most money for your house. When interviewing Realtors, be sure to ask their plans for marketing and staging your property. Be comfortable that the Realtor you choose is going to invest significant effort and resources to showcase your home to its full potential.

Cornell
The real estate market in Cornell, Markham (east of Ninth Line, south of Bur Oak and North of Hwy 407) is something I personally follow closely because I live and work in the area. I’m pleased to see that selling prices of houses in Cornell are actually higher year-over-year. As well, the numbers of houses listed for sale vs. houses sold were comparable to the rest of the N11 district last month.

*the district of N11 encompasses the area between 19th Avenue to the north, York/Durham Line to the east, Hwy 407 to the South, and Hwy 404 to the west.

August Sizzler

2009-08-20T10:24:00.000-07:00

Sales for the first two weeks of August in the GTA are up 27%
compared from August 2008.

How do you get the most money for your home?
Ask our team to give you a free home evaluation
to make sure that your getting the most money possible for
your home.

As a buyer how do you make sure that your not
over paying? Ask us to help you navigate your
way thru the selling and buying process.

We look forward to hearing from you

Rosemary

RECORD SALES

2009-08-17T13:47:00.000-07:00

In July 2009, Greater Toronto REALTORS® reported a record9,967 sales, up 28 per cent from July 2008.

The average price for July transactions was$395,414 – up by six per cent compared to the same month last year."Households confident in their positioning within the current economic environment have takenadvantage of housing affordability in the GTA," said TREB President Tom Lebour.

"The realestate sector has been one of the sectors making a positive contribution to economic growth inthe GTA, not to mention Ontario and Canada more broadly."

Great Time to Consider Selling

2009-07-30T10:36:00.000-07:00

Great Time to Consider Selling

In all the years we have been in business, we have known July as a generally slower month. Over the years, we have noticed that traditionally in July many people take vacations and staycations to enjoy the normally sunshiny days of summer. Not so much this year. With interest rates low and buyers still out looking, it’s more and more common to find multiple offers on homes of all shapes, sizes and prices. This has helped keep prices that increased over the Spring up and even increase prices further in some cases. While it is still a great time to buy with interest rates at an all time low, it is ideal for sellers now. As some wait for the kids to get back to school, listing inventory is quite low making this summer a great time to get the house on the market with little competition. Houses also show their best in the summer months with gardens in full bloom and with all the rain we’ve had, many of our lawns are rich green in colour.

At the Leslie Benczik team, we offer many services to help both sellers and buyers make positive, informed decisions. We offer no obligation, free initial consultations to both sellers and buyers to help you determine the best course of action for yourself and your family. When you are ready to talk to someone who can help you with your real estate needs or wants, please contact us. We are happy to help.
Wishing you a happy and healthy summer!

Rachel O'Hearn, Salesperson
The Leslie Benczik Team
Re/Max All-Stars Realty Inc.
905.477.7766

LIST NOW!

2009-07-26T15:19:00.000-07:00

What a great time to list your home for sale.

Recent sales in the Markham area showed that

we are in a very strong sellers market. So how

do you make it work for you?

Get the most exposure possible for your home.

We at the Leslie Benczik team, market your home

thru professional photography, virtual tours, website and

weekly newspaper advertising.

If you have a home to sell ask us how to make sure

your getting the most money possible.

Rosemary

Investment Property - Why Now??

2009-07-17T11:45:00.000-07:00

When was the last time you remember prime interest rate at 2.5%??? For those who are asking why, I have many reasons. For those who are asking when, I say, RIGHT NOW!

PROPERTY buyers . . . On your mark, get set, go… The race is on for residential investment properties and you must take action before the competition gets too hot. Both investors and owner occupiers are still holding back because of uncertainty about the economy and job security. This is only making prices and choices even better for those people with funds to buy.
The window, however, could be about to shut… For many investors, record low interest rates and high rents means their new rental properties will be profitable from day one.

The Toronto Real Estate Board is reporting that sales in the GTA have increased in May 2009 compared to last year, however, prices are still within reach. We have experienced a vibrant market that was affected by low inventory and hungry buyers that finally realized that the world is not coming to an end and properties are still selling. With the comeback of ‘multiple offers’ the market has started to show some signs of life and prices have stabilized.

Often buyers behave like hunters and wait until there is ‘blood on the streets’ before buying and that exactly what makes real estate so interesting. Buyers think that if they wait a little longer then prices would be lower. For those I have an exercise. STOP READING right now and take a pen and a piece of paper. Draw a line down from the top left corner to the right in a 45 degree angle. Imagine that this is the market. Can you tell me where the bottom is as long as you keep drawing down? Probably not. Now, start going up to the right. Can you see it now? My point is, predicting the bottom of the market is almost impossible. You have to focus on market conditions and make an informed decision. If you have seen the bottom, you probably missed it. There are many opportunities out there including many distress sales and motivated sellers.

History shows that buying and holding real estate long term is one of the safest forms of investment that grows your money and for some people force saving.
So, what are you waiting for?? Get out there, pick up the phone and call one of your trusted representatives at the Leslie Benczik Team 905-477-7766 or Toll Free 1-888-762-7081!

Alon Hillel
Sales Representative

2009-06-17T10:55:00.000-07:00

THE MARKET
The rebound that we’ve seen in the market in the last 60 days is absolutely astounding!

According to the Toronto Real Estate Board, the volume of sales in May 2009 is up by two percent over May 2008. Selling prices are still slightly less than they were last year, but we’ve come a long way, considering that in Cornell and other pockets of York Region, we saw selling prices drop by about 10% between the spring of 2008 and the end of that year. According to TREB, Selling prices are now down by just 1% year over year.

It’s a tremendous Seller’s market right now. Buyers, excited by the lowest interest rates we’ve seen in years - if ever - are out in droves looking for homes to acquire. I’m amazed by how many multiple offer situations we’ve had in Markham in the last month. Who knows it if will last? The news is still full of doom and gloom about job losses close to home and the poor economy around the world. Regardless, it’s been proven that over the centuries that there is no better long-term investment than real estate.

CORNELL
I specialize in Cornell, so here are some numbers that may be of interest to home owners or potential buyers in this area:

Original Cornell: In May, the average Selling price of detached homes in original Cornell was $433,291 (with prices ranging from $335,000 to $562,000), and the average days on market was 41 (the shortest being 1 day, the longest being 85 days).

Upper Cornell: To the North, in Upper Cornell, the average Selling price of detached homes was $380,950, and the average days on market was 62. It should be pointed out that there were only two detached home sales through TREB in Upper Cornell in May, and one of those was sold by the Leslie Benczik Team for $410k, which was 106% of asking!

Grand Cornell: Just north of Highway 407 and south of Highway 7 in Grand Cornell, the average Selling price of detached homes in May was $368,500, and the average days on market was 22.

Cornell Rouge: To the East, in Cornell Rouge, there was only one sale of a detached home in May through TREB. Again, it was sold by the Leslie Benczik Team and it sold for $480,000 after 10 days on market.

In 2009 to date, the Leslie Benczik Team has done 22 transactions in the Cornell area.

Please don’t hesitate to call or write with any questions on the real estate market in Cornell or Markham!

Susan Taylor
Salesperson
susan@getbenczik.com
905-477-7766

2009-04-02T13:22:00.000-07:00

The Classic Real Estate Catch 22

The Spring market has really picked up! The Leslie Benczik sold 18 houses in the month of March, some even in multiple offers!

The do I buy or sell first catch 22 is still on many people's minds... Expecially since it has become more challenging to sell a home.

We have some options for you to consider:

1. It is always the safest route to sell first. What happens is that your home gets listed, and while it is being shown to prospective buyers, you are looking at houses. Once your home gets an offer, you should have a clear idea about what homes you would like to buy. Once your home is sold firm, you will know exactly what you can afford and what closing date will work. This puts you in the strongest position for negotiating as a buyer in this market.

2. You make an offer conditional on the sale of your home. While this is becoming a more accepted practice in today's'market, making an offer conditional on the sale of your home does impact your negotiating power as a buyer. Many sellers are relunctant to accept this condition and some do consider if the other aspects of the offer are strong. Generally you can negotiate a better price with less cumbersome conditions.

3. Buy first, sell later. Unless you know for sure that worst case scenario is that your home does not sell and you can carry both houses. This can happen when people buy new. Just because the closing date is far away, does not mean there is little risk. In a declining market, we are cautioning people to trade in the same market and avoid committing on a home before having sold your current home.

4. The Leslie Benczik Team offers a Guaranteed Home Sale Program*. Details of this program and specifically how it can benefit you can be discussed after analysis of your home and plans for moving. This program can be a great benefit if you would like to purchase first and know that you have an option in your back pocket if the worst should occur.

If you have any questions or specific needs we can help you with, please dont hesitate to contact us at 905.477.7766 or by email at Rachel@getbenczik.com

*Some conditions apply to the Guaranteed home sale program. OAC. Not all properties qualify.

What is Mortgage Loan Insurance?

2009-03-21T05:50:00.001-07:00

If you are a first time home buyer, you may be wondering about Mortgage Loan insurance and if it will apply to you.

Mortgage insurance is required by the mortgage lender to protect the mortgage lender if, for any reason, the borrower cannot pay their mortgage. The cost of obtaining this insurance is passed on to the consumer.

If your downpayment is less than 20% you Mortgage loan insurance will be required. There are some instances where the lenders will want to insure your mortgage even if your downpayment is less than 20%. This usually depends on the risk associated with the financing. The three main mortgage insurers in Canada are CMHC, Genworth and AIG United Guaranty.

Here is an example of how an insurance premium is calculated for a buyer with a 10% downpayment:

Purchase Price: $300,000 (A)
10% saved downpayment: $30,000 (B)

Price less downpayment (A)-(B) $270,000 (C)

Mortgage Loan Insurance Premium: $5,400 (D)
**2% of (C) $270,000

Total Mortgage Amount: $275,400

.
**Please note that the mortgage loan insurance premium is subject to provincial sales tax. This amount cannot be included in your total loan amount and you will have to pay it at time of closing.
(using the example above, with a premium of $5,400, 8% PST = $432)

Here are the typical mortgage insurance premiums based on the financing required on the purchase:

Financing Required Premium
Up to and including 65% 0.50%
Up to and including 75% 0.65%
Up to and including 80% 1.00%
Up to and including 85% 1.75%
Up to and including 90% 2.00%
Up to and including 95% 2.75%

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

Spring Market

2009-03-13T13:58:00.000-07:00

The Spring market is in full swing! Although temperatures are still low, the sun is shining and more homes are being listed every day. Now is a great time to start your home search while there are more to choose from!

Thinking of selling? The nice weather and lack of snow is bringing those home buyers out. While we saw a buyer's market from October, 2008 through January, 2009, Febraury and so far March have been more balanced.

Be sure to check out our ad in the Economist and Sun this weekend for a preview of our new listings and go to our website at www.GetBenczik.com to learn more about the services we offer.

PRICED RIGHT AND A BEAUTY CONTEST…..

2009-02-20T04:58:00.000-08:00

Is your home is priced right to sell in today’s market?

What is the first impression that your home makes to a buyer?

These are the most important factors in selling your home.

A home that is priced right and shows well SELLS.

Buyers have more to choose from and homes that are well furnished, decluttered and well maintained have a huge advantage.

Having your home staged makes a huge impression on prospective buyers.

The first impression is that the home shows perfectly and makes the buyers want to stay longer in the home. First impressions are made in 30 seconds or less.

Staged homes are here to stay. It is a new standard in today’s selling market and more and more people are taking advantage of this service. Why? It gets more money for the home and they sell faster.

Call our office and talk to us about selling your home today

Home Buyer Highlights of the 2009 Federal Budget

2009-02-10T10:05:00.000-08:00

Tax credits for home buyers and home owners

Home renovation tax credit
Under a new temporary renovation tax credit, home owners can claim a 15 percent non-refundable tax credit for eligible expenditures over $1,000 but not more than $10,000, for a maximum credit of $1,350 ($9,000 × 15%). The credit is available for eligible costs of work performed or goods acquired after January 27, 2009 and before February 1, 2010 (unless the expenditure is made under an agreement in place on or before January 27, 2009). Family members (spouses or common-law partners and their children under 18) are subject to a single limit based on their pooled expenditures. The credit is only available for a dwelling that is eligible to be the family’s principal residence or that of one or more of their other family members. Expenditures will qualify for the credit if they are incurred in relation to a renovation or alteration of an eligible dwelling, provided the renovation is of an enduring nature and is integral to the dwelling. Examples include new furnaces, windows and decks. Eligible expenditures include labour costs, professional fees, building materials, fixtures, equipment rentals and permits.

First-time home buyers’ credit
First-time home buyers who acquire a qualifying home after January 27, 2009 may be entitled to claim a new non-refundable tax credit up to $5,000 and worth up to $750 ($5,000 × 15%). To qualify, neither the individual nor his or her spouse or common-law partner can have owned and lived in another home in the calendar year of the new home purchase or in any of the four preceding calendar years. The credit can be claimed by either the purchaser or by his or her spouse or common-law partner. The credit will also be available for certain home purchases by or for the benefit of an individual eligible for the disability tax credit.

Home Buyers’ Plan threshold increased
The budget increases the amount that first-time home buyers can withdraw tax-free from a Registered Retirement Savings Plan (RRSP) to purchase or build a new home to $25,000 (up from $20,000). The new limit applies to withdrawals made after January 27, 2009.

Information provided by KPMG.

For more information, please contact us anytime!

Exciting Mortgage Rates!

2009-01-27T12:08:00.000-08:00

CURRENT MORTGAGE RATES

As of January 21, 2009

Prime Rate 3.00%

Variable Rates:

Fully Open Variable 4.00% (Prime rate + 1.00%)

Variable Closed 3.80% (Prime rate + 0.80%)

Fixed Rates:

1 year closed 3.99%
3 year closed 4.75%
4 year closed 4.39%
5 year closed 4.49%
7 year closed 5.50%
10 year closed 6.35%

*Quick close preferred rates available**No down payment? Cash back mortgages available

CINDY MASONMortgage Agent Lic. No. M08004144
TEL. 1-800-441-5425 EXT.1
FAX: 905-852-1379
CELL: 1-800-441-5425 EXT.2

CMASON@MORCAN.CA

Start of 2009

2009-01-19T08:17:00.001-08:00

The Toronto Real Estate Board releases statistics for the first half of 2009.Greater Toronto REALTORS® reported 888 sales during the firsthalf of January compared to 1,776 in the first 15 days of 2008. “According to Statistics Canada, the economic situation throughout Canada changed noticeably over the past year with job lossesin the fourth quarter of 2008. Toronto is not immune to this, the GTA housing market has beenimpacted,” according to TREB President Maureen O’Neill.Prices have been affected, as expected.

Homes are still selling, but it is increasingly important to price accurately, stage professionally and hire the right agent to aggressively market the property.This is good news for anyone moving up in real estate now. Although, you will accept less money for your current home, if you are buying up, you are likely to buy lower.

We are recommending now as a great time to buy investment properties or move up to that larger home you have been dreaming about. Many people, if moving from a smaller home, are considering keeping their home as an investment property. I highly recommend this option if you are in a financial position to do so and only if the home can carry itself (the rent can cover all expenses). There are obviously risks involved when investing in real estate and it is important to educate yourself with the advice of a professional realtor, lawyer and accountant.

In every market, there are people who see the negative only and there are people who see the opportunities.

WHAT A KICK OFF....

2009-01-14T14:52:00.000-08:00

What an optimistic start to 2009 for The Leslie Benczik Team, we have 5 homes that have sold in the last week! Serious buyers for real estate in Markham, Unionville, Stouffville, and Ballantrae were out looking and they bought!

It is great to see this kind of activity in the real estate market! We were happy to see multiple offers on two of our listings which we haven’t seen in awhile.

If you are considering selling, it’s a great time as the inventory has dipped in Markham, Stouffville, Unionville and Ballantrae. Buyers are waiting for new listings to come onto the market!

Give us a call and we would be happy to answer any questions you may have about buying or selling your home.

We invite you to take a look at our website http://www.getbenczik.com/ and see our new listings with virtual tours and our ad in this week's edition of The Markham Economist and The Stouffville Tribune.

Open houses for Sunday January 18, 2009

Cornell in Markham
2 to 4 pm
251 Country Glen Road - Hosted by Susan Taylor

41 Yale Lane – Hosted by Rachel O’Hearn
And Cindy Mason, Mobile Mortgage Specialist!

Stouffville
2 to 4 pm
26 Ivandale Road – Hosted by Rosemary Mauro

We look forward to seeing you!

Experience Matters.....

2009-01-05T08:16:00.000-08:00

In today’s real estate market it is crucial how sellers market their homes. We at the Leslie Benczik Team have over 20 years of experience in helping people sell their homes in the Markham, Stouffville, Unionville and surrounding areas. If you are considering selling your home, talk to us to see the difference!

Over 80% of all homes searches start on realtor.ca. The photographs of your home are so important! We know this and that is why our listings have pictures taken by a professional photographer. We also offer a free home staging consultation to help make sure that your home looks its best. Once people are in the door, let us help you to negotiate the sale of your home. In 2008 we sold approximately 145 homes in the Markham, Stouffville and Unionville area. Let our experience work for you in selling or buying a home.

What a great time to buy a home in Stouffville!

2008-12-22T05:16:00.001-08:00

With interest rates at an all time low, now’s the time to purchase your home in Stouffville. Buyers have the choice of buying in established neighbourhoods that have premium lot sizes in “old” of Stouffville. There also is a wonderful selection of newer homes that are less then 2 years old.

Why buy a resale in Stouffville when so many new homes are available? When purchasing a new home the cost of upgrades are significantly higher than purchasing a resale home. Your buying dollar will go much further for upgrades than purchasing upgrades from a new home builder.

There is a wonderful selection of homes on the market in Stouffville and we would love to show you what’s out there. Now is the time to buy!

Opportunities to Buy - Cornell!

2008-12-17T07:51:00.000-08:00

Wow has the market changed over the last few months. Time to look for opportunity! We read it in the paper, we hear about it on the news, but from “the trenches”, I can tell you what I’m seeing here in Cornell.

Buying prices are 8% – 10% lower than they were in the summer. Mortgage interest rates seem to be dropping every other week. First time home-buyers are seeing the opportunity and going for it! We’re seeing movement in the sub $350k market.

We’re not seeing as much movement in the $500k+ market, and I really think this is a missed opportunity for people who are outgrowing their first homes. Yes, their home might sell for less today than it would have a year ago, but they’ll also pay proportionately less today than they would have a year ago for that larger home. There are some great deals in the 3000 sq ft range available in Cornell right now, and I happen to know of a couple of others that may be on the market in early 2009. Ping me if you want more info!

This Weekend's Open Houses

2008-12-05T07:33:00.000-08:00

Markham & Stouffville Real Estate Open Houses - Sunday, December 7, 2008

We will be holding Open Houses on Sunday, December 7th from 2:00 p.m. to 4:00 p.m at the following locations:

4 Cornell Meadows Avenue, in Cornell

24 Reesorville Road, in Markham Village

6 Arnie's Chance, in Ballantrae Golf & Country Club

We look forward to seeing you there!

A Changing Market

2008-12-01T06:41:00.000-08:00

At the Leslie Benczik team, we are committed to keeping our customers informed as much as possible. We have decided to start blogging on a weekly basis to bring you the important information you need to stay knowledgeable in this changing market.

We are changing with the times too. We have created a "Best Buys" list of all the homes we have seen that we feel are priced exceptionally well. Call us or come in to the office today to browse our "Best Buys" list or discuss your move and how we can help you get exactly what you want.

HOME STAGING

We are pleased to announce that we now offer a free home staging consulation with a professional, experienced home stager as part of our listing service. As homes become more challenging to sell, the need to price your home accurately and stage your home professionally becomes more critical in setting your home apart.

Call us today at 905.477.7766 to discuss how we can help you get your home sold fast and for top dollar.