How Much Should You Pay for a Home Inspection?

by Pillar to Post

One size does not fit all when it comes to home inspection fees. As you will discover, inspection quotes vary greatly, depending on individual inspector’s criteria or methods. Some charge flat rates, while others charge according to space, estimated time, home selling price, or other factors.

Some home inspectors charge by square foot of living space or area under a roof. Some consider detached garages part of the main house and do not charge for them, but may calculate square footage into the overall size calculation; while others charge extra. Some inspectors charge mileage from their location to the site.

As a “general” rule, though, a $100 per hour rate applies. That fee will vary, and might or might not include optional items, such as swimming pools or septic systems.

As the age and size of homes vary, so can inspection times—ranging from up to two hours, to more than four for older, larger homes. Most inspectors will let you know the minimum amount they charge. You might find inspectors with web sites where you can submit information about the property and receive a quote by e-mail.

Beware of online home inspectors. You can find sites that claim inspection fees range from $175 to $300. But if a thorough inspection takes five to six hours, how accurate can an inspector be who handles three or more a day?

Besides the time invested, you can measure the value of a thorough report by its usefulness. If your inspection turns up minimal issues, you've bought peace of mind. If there are serious problems, your $500 could end up saving you thousands later. No matter how you look at it, the cost of a home inspection is a bargain when it’s done right.

For more articles on Home Inspections, visit Zoocasa's Before You Buy Section.

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About Pillar to Post

Named the leading home inspection company in North America for 2007 by Entrepreneur Magazine in its annual franchise rankings, Pillar To Post is active across the United States and Canada, now serving over 400 locations in 9 provinces and 43 states.

Every one of Pillar To Post's nearly 700 home inspectors is rigorously trained both in the classroom and on site, and required to continually upgrade his or her skills to keep current with new technologies and professional standards. Furthermore, all Pillar To Post inspectors must carry Errors and Omissions (E&O) insurance, which protects referring agents from liability.

Question of the Week

I realize the house I'm buying is overpriced. All documents signed and waiting for closing. Can I get out now?

This week's featured answer:

"Buying Real Estate should always been viewed as a long term investment and one day you will own. That is a good thing and a good deal. You bought the place because you liked it. It is your home. It is where you will reside 365 days a year. You like the area. One will never always sell for top dollar or buy for bottom dollar. Trying to get out of it would be like the seller trying to get out of a deal for selling too low. A deal is a deal. Value has a degree of subjectivity about it. Enjoy your home. Pay it off. 20 years from now you'll be glad to bought today."

See the original post and more PRO answers.

Best money-saving mortgage tips

Has the recent correction in the incredibly low fixed-rate mortgages that some major banks were offering got you thinking that you missed your chance? Mortgages in Canada are still at record lows so if you are thinking about jumping into home ownership, or have a current mortgage term coming to an end that will soon be up for renewal, the following mortgage tips can offer helpful info in your decision-making process, and some money-saving advice when it comes to getting or renewing a mortgage.

A variable-rate mortgage has the highest probability of outperforming a fixed-rate mortgage. That's what a 2001 university study concluded when comparing variable-rate with fixed-rate mortgages over 15 years. As well, often lenders do not penalize the borrower for leaving early when it comes to an open or variable-rate mortgage, giving you the opportunity to lock in to a fixed-rate mortgage later on should interest rates go up.

Lock in to a three-year term if you’re getting a fixed-rate mortgage. It's makes lenders more money to get you locked in to a five-year term but did you know that the average mortgage is held for a three-year term? Circumstances do arise unexpectedly that cause people to feel they need to break their mortgages so it may be a good idea to give yourself more leeway with a shorter term.

The"Break and Run" strategy - With the recent historically low drop in fixed-rate interest rates offered by some major banks, those who had locked in a couple of years ago are gnashing teeth; or pumping fists if they plan to use the "break and run" strategy. This is the name given to a borrowing trick of getting out of an existing mortgage whenever signing up for a new one results the end savings being greater than the penalty. But buyer beware, many borrowers have found that the mortgage penalty is much higher than they had expected. Typically the penalty for breaking a mortgage is 3 months interest or the IRD (Interest Rate Differential) - whichever is greater - and the lower the current rates are, the higher the calculation. Many banks have different calculations they use to obtain the IRD (it is not currently standardized) so if the rate you got was discounted from the standard at the time you locked in, or you took a cash back offer, the penalty may be very high.

Make a prepayment. Before you end your current mortgage, you may be able to make a prepayment on a percentage of the balance. Most standard contracts allow annual penalty-free prepayments and paying this lump sum will lower the overall penalty fee. Be sure to ask about this option as it may not be offered to you up front. If you are negotiating a new mortgage, pay attention to this clause in the contract as it can help you pay off the balance sooner as it allows you to put more money towards the principle sum.

Consider hiring a mortgage broker. Mortgage brokers work for you, the client rather than someone who is an agent of the lender, selling you a product. The mortgage broker can find ways to minimize the IRD penalty or negotiate on your behalf to get the right mortgage for you.

For more info on mortgages visit Zoocasa's Before You Buy Centre and Finance Centre page.

The Essentials of Packing a Portable Storage Container for Moving or Storage Original Moving

by Units Storage



When moving, many things need to be considered. Having a plan is the first step. Being organized can help take the stress out of your moving experience. Below is a list of tips for how best to pack a portable storage container both safely and efficiently:

• Pack old towels and blankets between boxes to minimize the shifting of boxes inside the storage container.
• Do not over pack boxes; bulging box sides can damage surrounding boxes.
• Place liquid containers in plastic bags to reduce the chance of leaking.
• Number each box. Create a list for each box and its contents.
• Keep all items from each room together. Sorting of contents will be easier and save you time.
• Purchase more boxes then what you think you'll use; you never can have enough and many companies will buy back unused supplies.
• Reinforce boxes with at least one strip of heavy-duty packing tape on both the bottom and top of each box.
• Wrap all items with paper to reduce scratching.
• Position heavy items in the bottom of the box and lighter items on top.
• Utilize over-sized boxes for lampshades, delicate cushions, bedding and pillows.
• Leave clothes in dresser drawers, and use wardrobe boxes.
• Wrap framed pictures and artwork in bubble wrap for added security.
• Remove light bulbs from lamps before packing.
• Utilize straps to secure large items such as couches, refrigerators, dresser drawers, and entertainment stands.
• Place large or heavy items in the back or sides of the container.
• Leave enough space inside the container for a hand truck; it makes life much easier when you're ready to unload.
• Make sure your storage pod is secure by placing a strong padlock on the container.
• Place packed boxes in order so unloading will take less time and you'll have the essential items up front.
• Never pack or store any items that could cause a fire or damage to the container (e.g. gasoline, chemicals or heavy machinery).
• Consider storing your valuable belongings in a temperature-controlled (A/C & heat) warehouse to ensure the safety of your antiques, photos, candles, etc.

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This article has been provided by UNITS Mobile Storage of Atlanta, which offers top quality in pod storage solutions across Atlanta. Rental options include temperature-controlled (A/C and heat) warehouse storage, onsite storage at a home or business, and local or long distance moves. To book, call 678-838-6556 Or, visit www.unitsstorage.com/portable-storage/georgia/atlanta .

Enough Already

by Simon Giannini



I am sick and tired of it all. Constantly, and for the last 10 years, the media pounds us with sensational headlines, or reports about affordability levels, or household debt, or average prices, and it makes me want to scream!

Usually, the press release and all media stories have some sensational headline like “Run down home sells for record $1 Million in Toronto.” (Those of you living in San Francisco, New York or London feel free to post in the comments.)

What virtually all of these studies do is look at median or average prices, and compare them to the median or average income. This metric worked okay in the 20th century in most cities when bungalows on modest lots were the first homes of young families. It is becoming increasingly meaningless in the 21st century. Here’s why:

1. Average and median home prices are being driven up by the larger, mature demographic (think those over 50) who have equity and are now trading homes. Some are buying a nicer location, some are downsizing to a penthouse condo. Everyone has their own reason. Regardless, they are not taking out a $1 million mortgage on their $80,000 salary.

Average prices are also being driven up in some cities, like Vancouver, by an increase in “Luxury Market” sales. Over 700 homes priced at over $3 Million sold in Vancouver in 2011, nearly doubling the previous record of 375.

This luxury product is not about homes for younger families. Therefore, we should stop including it in analysis of housing market affordability for young families.

2. With number one said, we can still see that demand today is strong and growing in walkable, mature cities and neighbourhoods; the detached houses are often in highest demand (even when more modest priced homes exist). Because you can’t make more detached homes on lots in these mature areas, demand exceeds supply for this type of product. This drives up the average and median price of even fixer-upper, non-luxury product; increasingly only those trading an existing home or coming in with cash can purchase them. Families are buying in these neighbourhoods, but they are typically not first-time buyers; they have above average incomes and often equity from a condo or suburban home.

3. Points one and two above illustrate that detached bungalows are no longer typical first-time buyer product. When individuals, couples or families buy their first home in larger Canadian cities (and many cities around the world), increasingly it is more likely to be a townhouse or a condo. According to Realnet, In the Greater Toronto Area, 62% of homes sold in 2011 were high rise condos. And from watching House Hunters on HGTV this is also happening in many US cities as well.

Therefore a statement like “Toronto is the most unaffordable city” is not that helpful if we are concerned about the “affordability” of buying a decent home for young families. Measuring something that is not first time buyer product against the incomes of first time buyers is comparing apples to Yugos.

If we are truly interested in understanding the ability of individuals with average incomes to buy a home in the higher priced, metro areas, then at minimum we need to look at townhomes and condos instead of detached homes. Ideally you also remove the product coveted by the multi-millionaire club from the analysis. Suddenly the income needed to get into the market looks more familiar to most of us — $50,000 for Metro Vancouver, $38,000 in Greater Toronto according to this study.

Flashy headlines about Toronto, Vancouver and other cities being unaffordable get the publisher of the reports and newspaper articles attention–this is why they publish them. Also it’s much easier to calculate median price and median income, and harder to do real housing market analysis.

What worries me is that politicians, policy makers and lobby groups are using this mis-information. I fear for the results. So banks and others, please move your thinking into the 21st century!

First Time Buyers: you can now lock in a fixed mortgage rate for a 10 Year Term for less than 4%. Any concerns about rate changes affecting you are out the window, AND, you can own for the same as rent. Your excuses are now gone. Anyone who has the ability to buy instead of renting and doesn't today, is in my humble opinion NUTS.

Investors: rents are on the rise, and costs ( mortgage interest rates) are dropping. In business terms expenses are down, and revenues guaranteed to rise. Any questions?

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About the Author

Simon Giannini is a Broker with Royal LePage Signature in Toronto, Ontario. Simon is also the Author of "Everything You Wanted To Know About Real Estate But Were Afraid To Ask", "Buy Low, Sell High", and "Get Rid Of Your Customers". Simon has over 25 years experience, and is a sought after speaker and trainer for the real estate and mortgage industry. You can check out his BLOG at : www.TheRealEstateCentre.com

Selling Your Home In The Winter

by David Ursino




Vaughan Real Estate agent David Ursino video blogs about the low amount of inventory of homes for sale creating a strong seller's market.

Vaughan Real Estate agent David Ursino video blogs about the low amount of inventory creating a strong seller's market

• Low inventory of homes for sale
  

• High demand from buyer's given low interest rates
  

• Open house during winter storm still brings in over 60 guests

• Selling in the winter time means less competition from other homes for sale
  

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About the Contributor

Vaughan real estate agent David Ursino brings a novel approach to real estate in Vaughan. Through over 10 years of successful sales and marketing experience, David understands the value of building great relationships with customers. He is dedicated to delivering the highest level of service and brings his passion to each and every real estate transaction. Being Vaughan's first real estate video blogger, David knows what it takes to succeed in today's online market. He specializes in the Woodbridge, Maple, Kleinburg and Thornhill areas. Learn more about Vaughan real estate agent David Ursino.

If you want to voice your opinion or if you don't care for David's comments please email your feedback to info@DavidUrsino.com and visit davidursino.com/for all the David Ursino Real Estate Video Blogs.

Who ought to do the home inspection? I worry as the seller this makes me liable.

Question of the Week:

Who ought to do the home inspection? I worry - as the seller, this makes me liable.

This week's featured answer:

A home inspection is usually requested in an offer to purchase a property. You as a seller have the right to refuse to accept offers conditional upon a home inspection but me as an agent working for a buyer would tell my buyer we need to find a new house - this guy must be hiding something if he refuses a home inspection.

As for you being liable for a home inspection, usually on the offer it specifies that the cost of the inspection is that of the buyer. Make sure you read the offer to make sure they didn't change it to the expense of the seller, but most agents wouldn't try to put that in an offer. As for liable for anything on the home inspection, the worst that can happen from a home inspection is that the buyer may refuse to buy your house unless you fix something; you have to decide if you want to fix it, or find another buyer.

A home inspection actually takes the liability off of you to some extent. Remember, the home inspector is a professional offering a service who provides prospective home buyers with a written report. This means that if a buyer moves in and finds a problem that was not noted on the report they are far more likely to pursue action against the home inspector rather then, you, the seller.

If you are concerned about what a home inspector may find in your home I recommend to my sellers that they pay for a home inspection prior to listing their home so that they can see what a home inspector will find.

See the original post and more PRO answers to this question.

Discovering Neighbourhood Gems: The Toronto Cricket Club

You're thinking about what kind of condo, house, size, style, price etc. of course when planning to buy a home, but there are other factors to think about. Your lifestyle needs outside of the home are very important considerations when looking to purchase a home because we don't just live in our home - we live in our neighbourhood and community. Home buyers often visit Zoocasa to see more than just what properties are for sale - they come to learn about the neighbourhoods and communities of the listings. Demographics, historical info, walkscore and more - home buyers want to see what the area can offer themselves and/or their families. It is essential to understand what a neighbourhood provides: from schools and shops, to recreational clubs.

Discovering a neighbourhood gem can be exciting and The Toronto Cricket Club is one such community hub. Within a lovely "park-like" setting, the historical club offers a large variety of member activities both social and athletic. As the club brochure describes, this family-oriented recreational establishment has been a long time neighbourhood tradition:

The history of Toronto Cricket Skating and Curling Club dates back to 1827, when The Toronto Cricket Club was founded. The Toronto Curling Club was organized in 1836, and The Toronto Skating Club sometime in the mid eighteen hundreds. In 1957 these three clubs amalgamated, and have now evolved into the successful family Club we are today.

About ten years ago, the club's focus became geared even more so towards families and $25 million was invested in renovations to improve its facilities. The club offers a wide range of programs - it's not just for cricket! Member activities include: squash, tennis, swimming, lawn bowling, croquet, skating and curling. As well, there is a fitness centre. Whether a beginner or at a more advanced skill level, all are accommodated - from children to adults, and even professional athletes (Olympic athletes do train at The Toronto Cricket Club), the facilities provide for all athletic levels. Three restaurants, a large outdoor patio and many organized social events, completes the “experience” at the “Cricket”.

About two thirds of the clubs' members live within walking distance and many of them consider it to be like a second home or even a "vacation-home alternative" due to it's lush setting in the summer and use it in place of a summer cottage. The Toronto Cricket Club provides a true community atmosphere and aims to remain a neighbourhood institution in the years to come. So for those who are thinking of moving to, Toronto, or are in particular considering the Avenue Road and Wilson Road area, knowing that the Toronto Cricket Club is a neighbourhood feature could actually be helpful in narrowing the home search.


The excitement of buying a new home includes getting to know your new community, such as discovering your new favorite haunts. But it is also very useful to assess your lifestyle needs before you start looking at homes and research about what is available in the potential areas of consideration.

For more info on membership visit the Toronto Cricket Club website: http://www.torontocricketclub.com.

To search for home listings and see their surrounding neighbourhood features, visit Zoocasa.com.

Mortgage Rules to Tighten

by Ratehub.ca


The Mortgage Crunch

Unless you’ve been living under a rock, you should have heard the Canadian housing market has been causing a stir, both locally and abroad. Mortgage rates in Canada are at record lows and Canadians have taken on more household debt than ever. The word on everyone’s lips is – bubble. The opinions differ on whether or not there really is one, but there are two people whose opinions matter a bit more than everyone else’s. They belong to Jim Flaherty, the Finance Minister of Canada, and Mark Carney, the Bank of Canada Governor. Mark Carney has been expressing his concern for a while over the growing amount of household debt Canadians are taking on. Jim Flaherty is concerned that lenders are loosening their mortgage standards and does not want to head down the same path as the U.S. lending market did. [1]

Recently, the Canadian Mortgage and Housing Corporation (CMHC) announced that it has $541 billion in insured mortgages under its books, drawing it ever closer to the agency’s limit of $600 billion. Theoretically, as the CMHC approaches its cap, it would have to start denying new borrowers or make it much harder to qualify. CMHC insurance is necessary for borrowers that have less than a 20% down payment.

There are three types of borrowers that may be hit the hardest if the CMHC so chooses to tighten the rules.

The Self –Employed: Self-employed individuals are motivated to expense as much as possible to minimise their income for tax purposes. Therefore, it may not be representative of their ‘true income’. Self-employed borrowers with less than three years of business operation can access CMHC-insured financing with a 10% down payment through a Stated Income mortgage program. With a Stated Income mortgage, the self-employed borrower must ‘state’ their earnings to the lender. The risk lies in the similarities to stated income subprime mortgages in the U.S despite being a much, much smaller segment of the market.

New to Canada Immigrants: For New to Canada immigrants, obtaining a mortgage is already difficult since they lack a credit and income history in Canada. In order to qualify for a mortgage, new immigrants will have to provide references such as letters from their home bank and credit card company, or obtain an international credit report. Due to the lack of a Canadian financial track record, immigrants are seen as riskier borrowers, even with these screening tools, right or not.

Condo Buyer: For mortgage applicants looking to finance a condominium, lenders will calculate their borrowing capacity using debt-to-income ratios that include only 50% of condo fees. If the government were to tighten rules to limit the number of borrowers, the condo fee calculation for debt-to-income ratios would likely be raised to 100%.

We still don’t know for sure what actions Ottawa will take, if and when they decide to tighten the mortgage market. If they do, the following borrowers may be left in the dark because they present more risk than traditional borrowers. If the government doesn’t increase the limit on the $600 billion mortgage insurance cap - the CMHC will have to take action and work to reduce the amount of mortgage insurance it issues.

[1] http://www.cbc.ca/news/business/story/2012/02/02/flaherty-mortgage-cmhc.html

[2] http://www.mortgagecentrebc.com/blogs/company/?tag=35-down-payment

March Break - Is your home protected while you travel?

by RBC Insurance




For many Canadians, protecting their home from burglary prior to a vacation is often secondary to preparing for the trip itself. But no matter where you live, your income or your lifestyle, crime is a fact of life.

Making sure your property is protected while you’re away will ensure you’re better able to enjoy your vacation.

Here are a few things to keep in mind before you leave:

➢ Ask a trusted neighbour to regularly check on your home for anything out of the ordinary.

➢ Set timers on interior and exterior lights or leave a few lights on in your house.

➢ Review your current home insurance policy to ensure it’s up-to-date.

➢ Ensure your house appears lived in. Hire someone to shovel your walkways or mow your lawn
and cancel newspaper and mail delivery or have someone pick them up.

➢ Ask a neighbour to park an additional car in your driveway.

➢ Don’t leave spare keys hidden outside. Burglars routinely check welcome mats and window ledges.

➢ Install reliable dead-bolt door locks and sturdy window latches to help prevent break-ins.

➢ Store valuable jewellery and documents in a safe deposit box.

➢ Notify your alarm company if you’re taking an extended vacation.

So when you leave for your next holiday, make sure you’ve considered all of these points. You’ll feel better knowing that while you are away, you’ve taken as many precautions as you could have to ensure your home is safe.


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If you want more information, you can contact a licensed RBC Insurance advisor at 1-800-ROYAL-68, visit rbcinsurance.com, or visit an RBC insurance branch near you.

Home, auto and travel insurance is underwritten by RBC General Insurance Company or RBC Insurance Company of Canada.

ecoENERGY Retrofit – Homes program deadline is June 30th

What is the ecoENERGY Retrofit – Homes program?

Energy efficiency is a concern for prospective homeowners who care about their carbon footprint, want to save money on home bills and increase their home value. If you are a prospective home owner conducting a home search, then keeping in mind the renovations that have been made on prospective homes that promote energy-efficiency is important as it will affect the comfort of your home and its resale value. Or, if you are looking at homes with an intention of possibly renovating, keep in mind the possible ways you may decide to retrofit a potential home for energy efficiency - and the grants that you can apply for.

The 2011 eco-ENERGY Retrofit program rule changes included pre-registration for the program to be eligible for grants up to $5000. Registered home owners who have yet to complete the renovation have an extended "post-retrofit evaluation" deadline:

All registered homeowners must still complete their retrofits by March 31, 2012. In order to allow homeowners registered with the program to receive a grant, the Government of Canada has extended the deadline for post-retrofit evaluations to June 30, 2012.

Visit the eco-ENERGY Retrofit Frequently-Asked Questions page for more details and contact information.

If you are not registered but are interested in other federal programs, below are links to further info about other incentives and home energy efficiency.

Related Links for Homeowners

• Green Incentives and Rebates across Canada - Discover green incentive programs available in your area and take advantage of the savings.
• Building a new home? - Find out about energy-efficient housing construction.
• Go with ENERGY STAR^® - Products with the ENERGY STAR^® symbol are the best in their class for energy efficiency.
• Available Incentives in Your Area: NRCan transfers file information to complementary regional programs in certain provinces and territories. Some of these programs remain open to homeowners who did not register to participate in ecoENERGY Retrofit.
• Energy Evaluations and Labels: The Government of Canada encourages homeowners to have an energy evaluation to identify improvements, and receive an EnerGuide rating label, even if they are not seeking a grant.
  
• Eco Action website: http://ecoaction.gc.ca/index-eng.cfm
  

The Buzz about B.streets.

by Heather Rovet

image from urbantoronto.ca

There is a lot of buzz around the B.streets condos which, once complete, will be situated on Bathurst Street just south of Bloor. I think this location has a lot to do with all the talk as we all know that in real estate it is location, location, location! This 9-storey contemporary building is going to be right in the heart of the Annex, one of Toronto’s most sought after neighbourhoods.

B.streets is brought to you by developers Lindvest Properties and is being designed by the world-renowned architectural firm of Hariri Pontarini, the team behind One Bloor and the Shangri-La. The proposed design of modular “cubes” will breakdown the elongated façade along Bathurst Street, while providing a clear sight line for pedestrian traffic and a generous walk way down the laneway. B.streets is intended to create a lively relationship with its immediate context and community by providing a playful exterior and a functional retail strip at the street level.

Future home to 195 units, ranging in size from studios to town home and pricing mid 200,000 to mid 900,000. Cecconi Simone is the interior designer and finishes appear to be contemporary and stylish. Building amenities include concierge, fitness centre, yoga studio, theatre room, internet lounge, outdoor patio and a hobby room where one can tinker around with out messing up their own space!

This project which launched late last year is already 60 percent sold out. I think this building is going to be a great addition to the vibrant neighbourhood which, people will enjoy for years to come.

For more information check out their website, www.bstreetscondos.com

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About the Contributor

Before Heather Rovet started matching people with the right home, she spent many years putting people in the right clothes as a wardrobe stylist for the television and film industry. Both are very much the same to Heather - it’s about listening to functional needs and understanding a person’s vision - and she brings those two key elements together to find the right solution. With a love for the unity of beauty and order within a space, Heather feels that our homes are the place in which this can be reflected and defined.

Coupled with a passionate and keen eye for style and design, Heather sees the potential in the reality and helps clients to really envision their dream space. Whether it is a starter property, an upgrade, an income property or one's own private sanctuary, Heather works with her clients every step of the way to put them in the home that is right for them.

New Features! Zoocasa App iPad/iPhone Release

Huzzah! Good news: we've just released a new version of the Zoocasa iPhone/ iPad with dramatic improvements. The release is more similar to our website and hence much easier (and fun) to use when you're on the go. Visit the Apple Store...

What's New in Version 2.4

• Hundreds more listings are available via the map and search results
• Back and forward buttons on listing details pages
• Performance improvements

Back and Forward buttons: On the listing details page, users can page back and forth between search results without having to return to the map.


Exponentially more listings: See thousands of listings at a time on the map (on an aggregated basis).

Get it now.

iPhone

Why you'll love the Zoocasa App

• Find homes for sale using iPhone’s built in GPS
• Touch quick link for description, photo of the home and agent info
• Get directions to the home you’re viewing from where you are
• Customized searches by filters: for price, beds and baths
• Galleries of homes for sale
  
• Email the details to friends, family or agent

Visit the Apple Store.

When is a front parking pad permitted?

Zoocasa Ask the Pros Question of the Week:

When is a front parking pad permitted?

Answer 1:

"Here are some of the issues.

1. If there are no parking pads on the street, you are likely to be turned down.

2. If there are too many parking pads on the street, you are likely to be turned down.

3. If a tree or a lamp post or a fire hydrant would be put at risk by your parking pad, you are almost certain to be turned down.

4. If your mutual drive is 7 feet wide or wider between the houses, you will definitely be turned down."

Answer 2:

"It's on a street by street basis, you need to call the city."

See the original post and more PRO Answers.

Buying a home? Think about the community

Where do you see yourself in five years?

What's more, where do you see your house in the next five years? When you buy a house, it's not just the inside that counts. How do you ascertain if your day-to-day indoors will be as well-accommodated as all the other regular components that are incorporated in your life that involves going outside?

Walk-ability

Do you drive everywhere, even to the corner store? Or do you prefer to be within walking distance to the local grocery store? Is having an indie fair trade coffee shop or yoga studio a must? Do you work in finance and prefer being able to walk to your office and also have access to after-work watering holes close by? Are you used to having a good brunch spot and sushi take-out place within a ten minute walk? For some, it may be good daycare or schools for the kids; a public library, community center or gym or a place of worship. Is being close to public transportation that allows access to all such establishments just as good living within walking distance?

Calculating Commute

How far is your work commute? Do you want to be able to take public transportation to get to work so you won't have to pay for parking and gas? It's a good idea to think about your normal routines then consider how accessible your neighbourhood will be in regards to those needs.

And it's not just about where it's at now but potentially where the neighbourhood will grow to be in the near future. Imagine how the residents of certain Toronto neighbourhoods felt, who moved into nice, quiet residential areas; then a few years down the line had to deal with a number of noisy bars and clubs that cropped up and lined the streets. You may wish to investigate the zoning designations too, during your home search.

Time Well Spent

You may think that Google Streetview will give you a good enough sense of how a neighbourhood looks and what types of businesses and recreational areas are nearby, plus you've driven around the area - but how about some real get-to-know-ya spending time? It's not a bad idea to go on some "dates" in your prospective neighbourhood. Spend both days and nights hanging out, plus weekends to really see what it's like to live there and truly know if it's where you want to be.

Use Zoocasa's mapping technology to get a look at the properties of interest on your list to assess what community features the area offers. You can also find walk score, demographics and school info, etc. on Zoocasa.com.

Real Estate Viewpoint

by Curtis D. Cossey, CDC Consulting




As an appraiser, business owner, homeowner and investor, I have been watching the world financial crisis and issues related to economic projections. I have followed the news, real estate reports, rumors, doom and gloom gossiping and many other sources which are all very confusing. I thought there has to be some way of painting a clearer picture to be able to confidently decide for myself how things are going to turn out. Economics and market history of what sparks downturns and upticks in the market would be a good start. Not real estate statistics but indicators of growth in past times, which is consistent every time. I have read several articles and stumbled across a few with this approach. Using this approach is now more important than ever with the current economic problems globally. It is hard to maintain your emotions when real estate increases or you think there is a deal, however the following model tests your patience but could benefit you in the long run.

If you are trying to predict what is coming in the real estate market, don’t look at the real estate statistics they only represent the past. Positive GDP Growth increases job growth which increases population growth and more jobs and more population growth. This will increase demand approximately a year later (depending on surplus inventory) in turn increasing rents and decreasing supply which leads to more demand therefore increasing prices. This cycle works in the opposite direction as well, over roughly the same time lines.

It is important to not try to predict your specific target region’s market using national numbers. This is especially true when analyzing markets in countries with a large geographic size such as Canada.

Averages do not represent the true market, similar to your property tax assessment. One high sale price can skew all the results. An example is an infill neighborhood where some homes are new and executive while others are renovated or dated and in original condition. This is also true when there are major influences in the area such as a view or ravine exposure. An average across the city could indicate a rise in prices of 10% in the last year; however some areas may have dropped 5%. This would not be represented by the average or median figures.

Influential market forces often prove to have a shorter term, yet dramatic effect, among specific markets. It may make it look like boom or bust is occurring when it really isn’t. These forces can be economic or government based. For instance, the Vancouver Olympics, HST and high speculation of industrial development for the oil industry.

Ensuring that your portfolio and each property within it, creates positive cash flow from the beginning is extremely important in economic times like these. Counting on the market going up at the right time for you is a substantial level of risk to your portfolio.

Identify how specific green choices being made across Canada by your future tenants and buyers can dramatically increase the value of your property. GREEN features are: accessibility to public transportation, walking distance to amenities, community connectivity (services, parks, etc.).

Currently, during the economic turmoil, we are a safe haven for capital and investment which support the economy. When the economic turmoil begins to disappear, we will then step into being the safe and secure supplier of the 4 key commodities (food, fuel, fertilizer and forestry) the world will need during its recovery. Each these commodities will bring strong job growth to specific regions of our country, and these jobs will further fuel demand for rentals and property purchases. Markets are very specific (regional), and the fundamentals must be heeded exclusively to each individual area


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About CDC Consulting

CDC Consulting Services Inc. was established in 1996 to provide superior real estate appraisal services to our clients. CDC Consulting Services Inc. is an independent firm with several Strategic Alliances, providing a full range of valuation services throughout Western Canada. We offer residential, commercial, assessment appeals, insurance appraisals, agricultural, personal property/machinery and equipment and business valuation services.

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How to Buy a "New" Home with your REALTOR®

by Kelley Skar

This is a "how to" post for most buyers out there that are new to the buying scene, but also for those that may have bought and sold a couple of homes by now but are thinking about going the "New" route.

New Home Construction

One of the first things you must understand about new home builders is that they are not going to "Give" their spec homes away. A lot of people that I have come across recently have thought that because the builder built the home a year or two ago and they are still trying to get of that you will be able to get that home for a song and a dance!

Builders build on Spec...meaning Speculation, not Specification - that there are going to be buyers out there who are going to purchase the home that has already been built under their design. They are in a sense, hedging the market, betting that if they "build it, the buyers will come".

So, if you are going to buy a Spec home and it's been on the market or the builder has had it for a while, by all means give it a good go to see if you get a good discount off the price. But do not expect that the builder is going to go BROKE if you don't buy it!

Buying a New Home with your REALTOR®

There a lot of people that think REALTORS® cannot represent you in the purchase of a new home; this is simply not true. We can and we gladly will help you so that you know the right questions to ask, what you can expect during the process and act as a guide, as we regularly would, just as if you were purchasing a resale home.

So here is a list of how you would go about making that purchase of a new home with your REALTOR®:

• Communicate with your Agent that New Homes are in your price range and are of interest

• Pick the areas that you want to look at those new homes and schedule it with your Agent to go out and look

• If you are working with a REALTOR® you have to understand we are commission based; if we do not Register you with the show home in the area you are interested in, we do not get a check.

• If the home you are interested in is a Spec home, and it is NOT listed on the MLS®, the contract WILL be written on the Alberta New Home Warranty Program contracts (rules may differ by province).
  

• If the Spec home is listed on Realtor.ca, the initial offer will be written on the standard AREA contract and once accepted will be transferred over to the Alberta New Home Warranty contract (rules may differ by province).

• You CAN Negotiate on the Spec homes. In my experience some builders are willing to throw things in like window coverings or sod for your yard. You just have to know how and when to ask for these things.

• Do you NEED a home inspection? Well that one is up to you! I have seen it on new homes, in fact I had one done on my home (but we also built during the "Boom" in Calgary back in 2006!).

• Closing costs: Typically the builder will allow you to use their lawyer and will cover the cost of the fees; of course if the home is not listed on Realtor.ca this scenario is more likely.

• A walk-through is planned usually upon possession day to identify deficiencies within the home so that the builder can come back in and fix them. This varies but there will also be a 3, 9, and 12 month walk-through to do the same.

So there you go: a quick and dirty list of how you might go about working with an Agent to purchase a new home. If I may impress upon any and every one who reads this post, please concentrate on the FIRST point that I made. Communicate with your Agent - make sure he/she knows you are interested in new homes - we can and will represent YOUR interests in the purchase.

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About the Contributor

Kelley has consistently been in the top 5% in sales since he started full time in the real estate industry in 2008. He went through a major shift in his marketing plan at the end of 2009, recognizing the trend, and making the move towards digital marketing including websites, video, blogging and social media. Kelley is incredibly passionate about the use of technology and social media in his business and is often sought out for advice from other Agents from across North America. Kelley’s primary websites are: http://nwcalgaryliving.com and http://kelleyskar.com.

To connect with Kelley through Social Media follow him on twitter.com/kelleyskar and on Facebook.com/kelleyskar. If you have questions or comments you can reach Kelley direct at kelley@kelleyskar.com.