Monthly Archives: August 2009

Vague Real Estate Terms: How to avoid misunderstandings

Posted on August 10, 2009 | Leave a comment

By Carson Dunlop & Associateshome inspection house

Through the years humorous articles have been written poking fun at comments in real estate ads. We all know that “close to public transportation” should be interpreted as “built over the subway”. But the following are vague real estate terms that can get real estate salespeople into trouble. The age of consumerism has become the age of litigation, and the following terms should be avoided or used judiciously.

New Roof
The term “roof” is misleading in that it implies the roof covering plus the roof sheathing, rafters or trusses. The word “new” is rather nebulous as well. “Shingles replaced in 1990″ is a more accurate description.

Updated Wiring
Does updated wiring mean the size of the service has been increased or additional circuits have been added? Does it mean that the older knob tube wiring has been torn out (which is usually not necessary)? Sometimes it means that the old outlets have been replaced with modern-looking ones, however the wiring has not been changed at all.

A better approach may be to comment on the adequacy of the incoming service and more importantly the adequacy of the distribution network. Both of these however, are very difficult to assess without a solid understanding of electricity. We all know that you cannot determine the size of an electrical service by reading the sticker on the main box in the basement. It may be best to leave this one alone.

Thermal Windows
There is really no such thing. The R value (resistance to heat transfer) of a typical wall in a modern house is approximately R12 to R20. The R value of a single glazed window is R1. What about a double glazed window? R2! The window manufacturers call this a 100% improvement! The real benefit of double glazing is that it increases the surface temperature of the inside pane of glass so that condensation does not form on the windows in the winter time.

If the second pane of glass is a separate storm window, there will be a separate frame for the storm. This creates a second barrier to air infiltration and in some cases, it is a better arrangement than a double glazed window in a single frame.

Upgraded Plumbing
Are we talking about new bathroom fixtures or new copper pipes? If we are talking about new pipes, are we talking about all new pipes within the house or just the accessible ones in the unfinished portion of the basement? When we say “all copper plumbing” do we mean the waste piping as well? From the mid 1950′s to the late 1960′s, waste plumbing was also copper.

In the vast majority of houses where old galvanized supply plumbing has been replaced with modern copper, the line coming in from the street has not been replaced. Back in the days when galvanized plumbing was installed, the line coming in from the street was not galvanized steel. Instead it was lead. Recent newspaper articles and television programs have people all in a knot about the lead in houses. This is not to suggest that this is a problem, however, terms such as upgraded plumbing may make purchasers believe that the supply line coming in from the street has been changed as well.

Totally Renovated
One person’s idea of a total renovation is quite different than another’s. If a house has eight year old shingles on the roof at the time of the renovation, there would be no need to replace the shingles unless the renovation includes changes to the roof line. The term “totally renovated” leads some purchasers to believe that every part of the house that shows wear has been replaced. Therefore, they expect new shingles and are disappointed to find that the roof is “older” even though it does not require replacement.

There are many more expressions that cause confusion. With the degree of professionalism on the rise in the real estate community, there is no place for ambiguity.

Carson & Dunlop Associates is a consulting engineering firm which has been devoted exclusively to building inspections since 1978.  Their website is located www.carsondunlop.com and they can be reached at (416) 964-9415.

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Muddy York Quick Tip: Can my landlord include a no-smoking clause in my lease agreement?

Posted on August 9, 2009 | Leave a comment

Yes, in the Province of Ontario, it is legal for a landlord to ban smoking in private rental units.

A decision by the Landlord and Tenant Board in 2008 supported this concept.  The legal community states that landlords also have a right to impose additional obligations or restrictions on tenants over and above the standard lease agreement terms.  As long as these obligations do not contravene the Ontario Human Rights Code, the Residential Tenancies Act or other federal laws.  A landlord does have the right to protect their investment.

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Posted in Rental Information

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Why get a Pre-approved Mortgage

Posted on August 8, 2009 | Leave a comment

keysWhen you are purchasing a home, it is highly suggested that buyers get a pre-approval done by a licensed mortgage broker.

You may be asking yourself “why is it necessary?”

The answer to this question is simple; with a pre-approved mortgage you are showing the seller that you are serious about purchasing the house and that if the offer is accepted. You can afford to buy the property off the seller.

If you do not have a pre-approved mortgage then you are simply a ‘risk’ to the seller; they are looking at a conditional offer which is based on whether you get the proper financing for the purchase.

This will give you an advantage in buying the house when there are multiple offers being made. A seller is more likely to accept your offer if you have a pre-approved mortgage, compared to another buyer who does not have a pre-approved mortgage.

With a pre-approved mortgage you will know exactly how much you can afford. Best of all when you show your real estate your pre-approved mortgage, it is telling them your price range and from there you will have eliminated a number of homes out of your price range.

With a pre-approved mortgage, the lender certifies that you are financially qualified and creditworthy for a specific loan for an amount up to a specific maximum.

Keep in mind that just because you have a pre-approved mortgage does not mean that you should be spending that specific amount on a home. You have to calculate your expenses; primarily your mortgage payments, utilities and taxes.

Do not forget to budget in closing costs, which are typically around 2% to 5% of the loan. Not to mention moving costs, a good way to move if you are running low on funds is to rent a truck and have a few good friends help you move. You will save hundreds of dollars compared to hiring a professional moving company.

Generally you will find that a pre-approved mortgage will be effective for 90 days from approval. With this you are guaranteeing the financing on the home you may buy and can easily negotiate a house which falls within your budget.

Do not waste time, if you are looking for a house, then you should be getting a pre-approved mortgage today.

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Adding Privacy to your Toronto Yard

Posted on August 6, 2009 | Leave a comment

By Susan Eickmeierbackyard

Privacy is what we all seek when we are at home, looking for our very own morsel of tranquility…not only in our home, but in our backyards as well. When your fence is not giving you enough privacy or beauty, it leaves you feeling that something is missing.

One lovely solution that will help give your yard an added elegant look, is planting hedges around the perimeter.   This will help provide privacy, and also add a great deal of beauty.  Hedges are a practical, natural and alternative way to fencing; and there are a variety of wonderful plants to choose from to create the perfect hedge for your garden.

When considering the placement of hedges, you need to consider the growing conditions for the type of shrub you choose. No matter how wonderful a shrub might look, you may not have the appropriate growing conditions for that specific shrub. This will severely limit the potential growth your scrubs will have, ultimately limiting the potential privacy you will gain in your yard.  Other growing conditions will also depend on how your house is situated.

Another point to take into consideration is whether you want to plant fully grown shrubs, which will immediately give you the perfect screen and privacy; or smaller shrubs.  The smaller shrubs while less expensive, will take time to grow, taking a little longer to give you the privacy you want.  There fore, if it’s to add privacy right away, you will want to purchase fully grown shrubs.

Hedges will provide a tall screen for your yard giving you the privacy you want while enclosing your yard in a graceful manner. You will no longer have to worry about painting your fence to give it a fresh look. Your only maintenance will be trimming the shrubs to keep them in perfect condition and of course giving the required amount of water to keep them looking perfectly green.

Keep in mind, if you have a wooden fence, which you don’t want to replace; or you want to improve your garden on a budget; a few strategically placed lush cedars can be just as effective.  Plant them in groups of three, and don’t forget to check out the sales!  Sheridan Nurseries (416 481 6429) at 2827 Yonge St. have gorgeous, large cedars, and they are currently being offered at 30% off!!

I hope you consider this as an option when you want to add some privacy, elegance and lush beauty to your yard.   From here, you will be ready to work on your flower beds, and garden itself, creating your own private oasis!

Susan Eickmeier is a Sales Representative with Royal LePage R.E.S. Ltd/Johnston & Daniel Division working in the Central Toronto market.  Susan is also a regular contributor to the Muddy York Blog. Susan’s website is located at www.susaneickmeier.com

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Picture Perfect Neighbourhood: Governor’s Bridge

Posted on August 5, 2009 | Leave a comment

By Morgan Dumas and Diti Dumas

Just minutes from downtown Toronto, sits an exclusive enclave of approximately 115 homes in a neighbourhood called “Governor’s Bridge.” The area spans west of Bayview Avenue to the Moore Park Ravine and is bordered to the northwest by railway tracks. This desirable neighbourhood overlooks the Don Valley and Moore Park Ravine and is an ideal location for families with its excellent school district and many nearby parks.

In 1912 this neighbourhood was subdivided by William Douglas and Wallace Nesbitt, who were both distinguished lawyers in Toronto. Despite the time of the subdivision, the actual building of the homes did not begin until 1923 when the neighbourhood’s name sake bridge, “Governor’s Bridge was opened connecting this new neighbourhood with Rosedale. This bridge spanned across a large section of the Moore Park Ravine and received its name because of its closeness to the Lieutenant Governor’s residence (where Chorley Park remains today). That same year, Nesbitt and Douglas decided to change their original plan of subdivision for the neighbourhood by changing all the original street names in this new plan. The former “Southview Avenue” became “Nesbitt Drive”, “Oakdale Crescent” became “Douglas Crescent” and “Hawthorne Avenue” was changed to “Governor’s Road.” During the early years of this neighbourhood’s development it was often affectionately referred to by locals as “Little Hollywood. The reason for this nickname was because many of the first homes built in the area featured Spanish-style architectural accents, similar to the ones in California. The homes were built in all shapes and sizes and even included some bungalows that were built 50+ years ago and more recently have been demolished and new larger homes have been built in their place. The prices of these homes range from $700,000 and up. The homes on Douglas Crescent sit on the edge of the wooded hills of the Moore Park Ravine and all residences experience wildlife right outside their back door.  Also on Douglas Crescent sits the historic Governor’s Manor at 67-93 Douglas Crescent. In recent years this residence has been transformed into an upscale condominium townhouse complex adding a grand quality to this already prestigious enclave of homes. At the eastern edge of the community a collection of sixty high-end three-storey homes have recently been built. Each is beautifully designed and includes many expensive finishes. These newly constructed residences are known as the “Governor’s Bridge Estates.”

At the heart of this neighbourhood is Nesbitt Park which is an ideal place for children to play and neighbours to meet one another and make new friends. For residents looking for exercise, the neighbourhood is nearby to the Rosedale Valley which has a network of pathways for joggers, walkers and cyclers. The closest shopping area to this neighbourhood is the small collection of stores found at the top of the Bayview Extension at the intersection of Bayview and Moore.  The area includes a grocery store, bank, cleaners and drug store. If you travel through Rosedale you will also find the exclusive Summerhill Market which is a favourite of many Governor’s Bridge residents with their wide variety of delicacies.  Residents can also travel a little bit further and enjoy the benefits of the stops in Leaside and on Bayview Avenue south of Eglinton.

Governor’s Bridge is located in one of the best school districts in the city including; Bennington Heights Public School (Kindergartan-Gr.6), Bessborough Drive Public School (Kindergarten- Gr. 8), Rosedale Heights (Gr.9-12), Leaside High (Gr. 9-12), Branksome Hall (Private: Kindergarten-Gr.12) and The York School (Private: Kindergarten- Gr. 12).

When it comes to transportation, residences have the option to catch the bus on Summerhill Avenue (just across the bridge) which will take them to the Rosedale Subways station (part of the Yonge/University/Spadina Subway line) or travel by car. When traveling by car, residences have access to the Bayview extension at the Northeast section of the neighbourhood which is one of the quickest ways to travel to downtown Toronto.

One thing about this neighbourhood is the low turnover of homes in the area. The reason for this is because once people move in they never want to leave this picture perfect neighbourhood and when a home does go on the market, it is a rare and treasured find.

Diti Dumas is a Sales Representative with Royal LePage R.E.S. Ltd./JOHNSTON & DANIEL DIVISION, Brokerage.  Diti is a regular contributor to the Muddy York Blog.  Diti’s website is located at www.ditidumas.com.

Morgan Dumas is an aspiring writer and journalism student from Ryerson University in Toronto.

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Posted in Governor's Bridge, Rosedale

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A 10 Step Guide to Successfully Sell Your Home – Part 2 of 4

Posted on August 4, 2009 | Leave a comment

By Evan Sage

Step 4: Disclosures
While the house is being staged the Agent should coordinate some of the other prep work for the marketing of the property. This work includes a pre-inspection if it is a house or ordering the Status Certificate from the property manager if it is a condo. While the Agent is doing this the Seller can fill out a ‘Seller Property Information Statement’, SPIS, form. This is a form that was generated by the industry in order to help bring better transparency to the home buying process. It is filled out by the current homeowner and discloses any issues that may exist and asks questions about the age and state of the property. These items show that there is nothing to hide and discloses all the deficiencies up front so that hopefully there is no need for a conditional offer. It also saves the Seller from going through problems after an agreement has been made and potentially saves them from a law suit.

Step 5: Floor Plans
Another thing that can be done while the staging occurs is to have professional floor plans drawn up. Floor Plans are technical measurements that show each aspect of the house, walls, doors, windows, radiators, etc… They should be made available both online and included in the feature sheets. The floor plans will allow people to understand the layout of the home before they see the home, remember where everything is after they see the home, and can be shown to other interested parties who could not physically see the house.

Once the house has been staged, the pre-inspection done, and the floor plans drawn up it is time for the fresh flowers and photographer.

Step 6: Professionally Photograph the Home
It is well worth an Agent’s money to bring in a professional photographer to capture a home at its very best. These photos form the foundation of the marketing for the property. I have had Buyers refuse to “waste their time” visiting a home because of poor quality grainy pictures that they see on line, even though the house had everything they want. I know that it sounds crazy, but the photographs really make that big a difference.

Photographs are used in many different ways, all of which are critical to the effective marketing of the property. They are used for Feature Sheets, Newspaper ads, MLS listings, personal agent websites, company websites, affiliated corporate sites, syndicated sites, custom property websites and various other sources necessary for marketing the home effectively. Sometimes they are even used as Christmas cards by the new purchasers, but that is a long story.

Point and shoot photography simply lowers the perceived value of the Home and all of the marketing. It also tells you that the Agent may not know where to wisely invest their marketing dollars. During your Agent interviews be sure to ask prospective Agents if they use professional photographers. If they scoff take note.

The third part of this series will be released next week, it will cover developing a listing’s marketing plan.

Evan Sage is a Sales Representative with Royal LePage R.E.S./Johnston & Daniel Division. Evan is also a regular contributor to the Muddy York Blog.  Evan’s web site is located at www.evansage.com.

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6 Tips for Home Buyers

Posted on August 3, 2009 | Leave a comment

business-peopleWhen you are buying a home, it can be a stressful task; more than you can imagine. To help ease the stress, I have come up with 6 tips which ultimately make the process less stressful.

1.Know your Budget
When you are trying to buy a house, in the Toronto marketplace you have to know how much you can spend. For this you should be getting a pre-approval from a mortgage broker. This will allow a real estate agent to find a home within your specific price range. From this point forward it becomes a much easier process in locating that dream house of yours.

With a pre-approval you are telling the seller you are serious and ready to commit to the purchase; having a pre-approval helps you also when you are negotiating for the property.

2.Home Inspections are  a Must
This might be redundant, but for any home you are considering to purchase you need to have it inspected by a licensed home inspector. A home inspector will locate any problems with the property, at times home inspectors find major issues and it could be a deal breaker.

3.Closing costs
You have to remember that when you are ready to buy a house, you have more to pay than just the down payment. There is a long list of closing costs that may come up, have your real estate agent compile the expenses so you can get the appropriate funds available.

4.Do Not Get Emotional
Some people may fall head over heels with their “dream” home and end up paying a price far over market value because they do not want to give the house up. You cannot let your emotions get in the way of your purchase, remember it is a business transaction and you do not want to regret any decisions you make.

5.Bidding Wars
When you find a great home that is underpriced you should be aware of the chances of a bidding war. Bidding wars are great for the seller, but not for the buyer(s). You may end up paying more than you anticipated because of it. Remember you have a budget and should not stretch it too far.

6.Date of Possession
Try to set a date where you can move into your new home right away, rather than having to find a short term location to stay at. Having to move once is more than enough work.

With these 6 tips I hope you are able to find your house and get settled properly. Do not forget, no matter how stressful buying a home is it will never beat the feeling of knowing you are done and satisfied with your purchase.

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Rees WaveDeck Official Opening Community Celebration

Posted on August 2, 2009 | Leave a comment

Saturday, August 8th – 1p.m to 4p.m.toronto-waterfront

The Rees WaveDeck is now open!  To mark this important revitalization milestone, Waterfront Toronto invites you to a community celebration on Saturday, August 8 from 1p.m. to 4p.m.

Join Waterfront Toronto and Toronto City Councillor Adam Vaughan on the Rees WaveDeck for an afternoon of festivities including:

• Sailboat and pontoon boat tours (first come first serve)
• Kayaking and other boating demonstrations
• Music and family friendly entertainment
• Waterfront Toronto walking tours and information

Following in the footsteps of the Spadina and Simcoe WaveDecks, the Rees WaveDeck is the third in a series of four urban docks designed to create more public space along one of the most heavily used parts of the Toronto shoreline. Built in less than 10 months, this 480 square-metre wavedeck is uniquely Canadian and a fantastic new addition to Toronto’s waterfront.

Getting There
Festivities will take place in and around the Rees WaveDeck and slip located on Queens Quay Boulevard West just west of Rees Street (at the water’s edge next to the Harbourfront Centre Sailing and Powerboating).

If you are traveling to the event by TTC, exit the 510 or 509 waterfront streetcars at the intersection of Queens Quay Boulevard and Rees Street. If you are travelling to the event by car, paid parking is available at Harbourfront Centre’s York Quay South lot at the south side of Queens Quay just west of York Street.

For more information, please contact Amanda Flude at info@waterfrontoronto.ca or 416-214-1344 ext. 276.

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Posted in General Information, Neighbourhood Information

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Prioritizing your Staging Needs

Posted on August 2, 2009 | 1 Comment

Whenever you are selling a house, it will always require some staging to be done. Staging requires a lot more hard work than money, so with a good budget you will still stage your home great.

For staging you need to set level of priority and from there it will only be a matter of getting the job done. Here are the levels of priority you should follow.

1.Create a Budget
First things first, you should create a budget and stick to it. Apply your budget to complete any major repairs or unfinished projects first because if you do not fix them it will definitely detract value from your home. From there you start to buy anything to add to your house to make it show better.

2.Curb Appeal
The first impression is always important on any potential buyer when they are driving up to your home. Clean your entrance, make sure any light fixtures work well and make sure you’re landscaping looks perfect – tidy lawns and flower beds.

3.Paint is Necessary
A fresh coat of paint can do wonders to any room. When you feel the room is a bit dull and is lacking ‘something’, choose a color and begin painting. Once you finish painting any rooms you move onto the next priority.

4.Kitchen and Bathrooms
One of the biggest sellers in your home; you should keep these areas spotless and have a great smell to it. You can do this with some scented candles or oil diffusers. Keep these areas clutter free to show a potential buyer that they have a spacious area to work with if they decide to buy your house.

5.Master bedrooms and Living Area
You have to make these rooms look bright and comfortable. Remove useless items that just clutter the rooms; extra tables, toys, etc. Add throw pillows where needed when you want to add a splash of color

6.Remove Personal Items
The final step to staging is to get rid of any personal items around your home. Family portraits, awards, etc; let the potential buyer see what they can do with the house, not what you have done to it.

By following these steps you will have prioritized what needs to be done in your home before you put it on the market. Staging your home can be both a fun and stressful task, but once you finally get done it will be a great moment in your life because you will know that you have done everything you can to prepare your home.

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Posted in Staging Information

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