Monthly Archives: January 2010

Toronto’s Ukrainian Community

Posted on January 31, 2010 | 1 Comment

By Krystyna Cap

Ask most Canadians where the heart of the Ukrainian Diaspora can be found in this country and they’ll likely answer Alberta or Manitoba, calling to mind images of Clifford Sifton’s sheepskin-clad farmers who began settling the Canadian west in the 1890s. Few would cite Toronto, despite our city’s own distinct Ukrainian heritage, now over a century old. Yet, the War of 1812 brought the first Ukrainians to the city (then called York) as mercenary soldiers. For their service in the de Meuron and de Watteville battalions, these men were granted land near present-day Perth, Ontario and Winnipeg, Manitoba, although it was not until the late nineteenth century that the first Ukrainian immigrants began arriving in significant numbers to form the “nuclei for [Ontario's] Ukrainian communities today.” [1]

For the complete article, click here

Source:  Toronto Heritage Organization

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The risks of over-sealing your home

Posted on January 30, 2010 | Leave a comment

Lately, all the media seems to talk about is going “green” and being energy-efficient. The number one way your home leeches money and wastes energy is when you have older, drafty windows that are improperly sealed – the money you use for your heating and cooling bills is literally going out the window.

More recently, the news is riddled with stories about asbestos, lead paint, mould, radon, and other scary, invisible problems that are hiding in your home, waiting to “get” you and your family. Over-sealing your home can increase the concentration of these problems within the indoors. So what is the average, environmentally-conscious homeowner to do?

If you’ve already got these problems, over-sealing your home will only increase how much you notice them and how much they affect you. You may feel weaker, tired, become ill for unexplained reasons, or develop “sick building syndrome”, an ailment directly related to poor air quality that is usually prevalent in newer office buildings and remodeled homes. While these are not slight problems by any means, solving the problem at its core is much more effective than putting off re-caulking your windows.

While they are a good start, HEPA filters alone will not remediate these issues. It is interesting to note that many over-sealed sky scrapers in Canada are finding success in the installation of UV lights throughout their floors to eliminate sick building syndrome. UV lights are known to kill microorganisms such as mould and bacteria, and can be installed in ventilation systems to take care of some of these issues.

However, this does little to rectify the other toxic problems, like asbestos fibers, lead dust and radon gas. There are many DIY testing kits available at the larger home renovation stores and these can assist you in determining the extent of your problem, or whether you have one at all.

Indoor air quality testing, either DIY or by a professional company, paired with a well-sealed home can significantly boost the resale value of a house.

Many indoor air quality specialists also offer free consultations in which they will actually come to your home. A good property remediation company should do free testing and help you determine what kind of problems you have before you sign anything or agree to have them remediate your home. This way, you can get a decent idea of how you can remedy the situation at a cost that fits your budget – DIY, or have it done professionally.

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Posted in Home Inspection Information

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What’s a Ponzi scheme?

Posted on January 29, 2010 | Leave a comment

The original Ponzi scheme occurred in 1920, when Charles Ponzi amassed almost $10,000,000 by conning people in Boston by having them invest in a fake enterprise.  

While a Ponzi scheme can range from simple to very complex, its basic elements are the same: Find investors and pay them returns using the money from new investors. Once there are no more new investors it’s pretty much over, and the entire scheme implodes on itself.  

The original Ponzi scheme dealt with stamps, but many translate over to the world of real estate fraud.  

A recent case in New Jersey found investors falling for a house-flipping scam: the fake company said they would make their money by investing in old, rundown homes and reselling the fixed-up homes, only to really keep the money themselves. By the time investors and law enforcement got suspicious, the money was gone and spent, hidden with relatives in a foreign country or in an offshore bank account.  

Police and forensic accountants have made it clear to the public that it is nearly impossible to reclaim the lost investments due to the very nature of the crime. The money is rarely hiding in a safe somewhere – instead it has been funneled through many investors and spent. The victims often have little recourse as their life savings are wasted, and their finances have been hit so hard they can’t afford an attourney or private investigator.  

One Canadian forensic accountant told the Canadian Press this week he estimated that there are over 100 unnoticed Ponzi schemes operating in the country and that Canada is especially at risk because of its weak penalties.  

These cases are all over the news of late mostly due in part to investors panicking over the failing market and wanting to take their money out of the investment, only to find it wasn’t there anymore. As always, if something is too good to be true – it is.

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Bank of Canada maintains Interest Rates (CREA)

Posted on January 28, 2010 | Leave a comment

Reiterates commitment to hold until end of second quarter of 2010

As was widely expected, the Bank of Canada held its benchmark overnight lending rate steady at 0.25 per cent at its setting on January 19th, 2010. The trend-setting Bank rate, which is set 0.25 percentage points above the overnight lending rate, remains at 0.5 per cent.

With the economic recovery under way, the Bank acknowledged that the outlook for global growth was “somewhat stronger” than it had predicted in October, but stressed that this was still very much dependent on “exceptional monetary and fiscal stimulus, as well as extraordinary measures taken to support financial systems.” The Bank did, however, remove its comment regarding “significant fragilities” in the global economy, which had featured prominently in the previous two announcements.

Read more, CLICK HERE

Source:  CREA

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Posted in Mortgage Information

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The final days of the Home Renovation Tax Credit are stressing out renovators

Posted on January 27, 2010 | Leave a comment

When most construction workers, contractors, homeowners and big box stores think of ripping out walls, breaking up foundation, new plumbing removing windows and exposing home interiors to the outside, they all seem to agree on the perfect time of year to get the job done – January.

Actually, no they don’t. January is smack dab in the middle of the freezing, unforgivable dead of winter and everyone is still dealing with the lingering financial effects of the holidays.

That fact hasn’t slowed the huge boom in renovations that many homeowners are scrambling to get finished before the qualifying time period expires. Statistics Canada has said that the larger home renovation stores have seen rises in sales while other retail sectors have seen dips in profits.

The Home Renovation Tax Credit program offers tax credits of up to $1,350 for homeowners completing renovations that cost between anywhere $1,000 and $10,000. Any work must be completed and all supplies must be purchased by February 1st of this year.

Some construction and contracting companies have been able to keep workers on full-time this year instead of laying them off during the season lull during winter, but companies like window frame maker Acrylon Plastics wonder how sustainable this boom actually is.

“My concern is that there’s no momentum behind this recovery – we’ll return to where we were a year ago where demand drops off and people throughout the industry get laid off,” CEO Craig McIntosh told the Globe and Mail last week.

Along with other industry leaders, McIntosh was lobbying to have the expiry date of the credit period pushed back by at least six months to give workers and the market a break. However, this doesn’t look too likely as the federal Ministry of Finance said last week that the program wasn’t cheap, and that the government would stand firm on the set date of the HRTC expiry.

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More on Going Green

Posted on January 26, 2010 | 1 Comment

If you’re looking to purchase a home and are trying your darndest to be environmentally-conscious, there are a few things to consider when attempting to purchase a “green” home, other than the typical well-sealed windows and abundance of EnergyStar appliances. You may not have considered that where your home is located is a factor, or that sealing up your windows can have an adverse effect on your family’s health.

The Materials
What kinds of materials have been used to build the home? Are they local and sustainable or do they have to be shipped over from far away using extra fuel? What colour is the roof? A darker roof will absorb heat and overwork your air conditioning system in the summer. Is there a skylight? A skylight might provide necessary indoor light at times during the day that you would ordinarily use electricity.

The Plumbing
How conservative is the home, speaking in terms of water-use? Are the fixtures prone to leaking? Are water-utilizing appliances, such as dishwashers and washing machines, water-conserving in design? Are there signs of water damage or a leaky basement?

Location, location, location
Is it far enough away from everything useful that you’ll need to drive just to get to the store? Or would you be able to take public transportation? A home within walking distance to the grocery store, schools, restaurants and parks will have you creating far fewer greenhouse gas emissions to get around to all of the amenities you enjoy on a daily basis.

The Air We Breathe
The over-sealing of a house for energy efficiency and heat retention purposes can also have a negative consequence: it traps toxic compounds, like mould and asbestos, within the home because of decreased ventilation. There are many companies around who conduct indoor air quality testing, and since we typically spend most of our time within the home, it’s a good idea to see where your home stands.

Already own a home that’s not so “green”?
Don’t forget about the Government of Canada’s Retrofit Rebate Program. Not only that, but the Government of Ontario and the City of Toronto have also developed their own special programs to encourage “greener” homes.  Using all three of these programs, you could be entitled to up to $11,000 in grants and rebates from both governments and the city, just for updating or replacing appliances or systems in your home with ones that are more energy-efficient, or by insulating your home effectively. After a home energy audit conducted by a certified ecoENERGY specialist, you’ll be given information on how you can upgrade your home on the government’s dime.   This also tangibly increases the value of your home: a survey by the Ontario Home Builders Association has found that 68 per cent of first time home buyers would consider paying $5,000 more for a “green” home, and that 40 per cent of those buyers would consider paying up to $10,000 more. Homeowners have until March 11, 2011 to make any changes.

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Putting on a few extra over the holidays: dollars in debt, not pounds

Posted on January 25, 2010 | Leave a comment

The holidays are indeed a time of indulgence. Even those on a strict budget may be faced with living a bit beyond their means to get through the holiday season. But along with the month of January and the New Year come the bills leftover from the end of last year, and some households are carrying debt they won’t be able to afford when interest rates rise again.

Consider consolidation: there are many ways to consolidate your credit, like obtaining a line of credit at a lower rate than your cards, resulting in less debt and a better credit rating. The do-it-yourself method of snipping up all of your more expensive cards with higher interest rates and leaving one for emergencies works too, eliminating the accumulation of further debt and letting you concentrate on paying off what you already have. This will also help with one of the most recommended methods of paying off credit card debt, by paying off the highest interest rate cards first. Pay as much over the minimum payment as you can each month, otherwise that $3 cup of coffee (it’s okay, we all do it) will end up costing you $10.

Always be prepared: before shelling out extra cash and spending what you might not be able to afford by using your credit card, make a list of items or big purchases you’ve been planning for. Ask yourself if you really need it, and if not, scratch it off the list. Only bring your credit card along if what you plan to purchase is on the list, because otherwise you probably don’t really need it. If you budget appropriately for these expenses, you’ll be able to just sit back and watch your savings grow.

When trying to increase savings, most people consider buying fewer unnecessary items or looking for savings on things they need to buy every month, like groceries. They don’t consider their “fixed” bills, like cable, internet, home phone or cell phone to be negotiable. Call your providers, and ask what they can do for you. The worst they can do is say no, and many companies offer larger discounts if you have more than one service with them. If you’re at the end of your contract, mention that you’ve been considering moving to another company that has a better rate. Even if you’re still in a contract, the fees for breaking it may only be $100 or so depending on your provider. Do some research and shop around, that $100 might be peanuts when it comes to the perks and savings you’ll get signing up with a new company.

Lowering the strain on your finances can help you prepare for higher interest rates if necessary, or let you hold onto a bit of extra cash just because you can.

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Lighten your load with a garage sale

Posted on January 24, 2010 | Leave a comment

By Julian Merry

Instead of putting your unwanted items in storage or paying to have them moved for you, make some extra cash by selling them at a garage sale. De-clutter, make money and familiarize neighbours or locals with the neighbourhood home that’s going to be on the market soon.

Things to buy or do before a successful garage sale:

  • Place an ad in the paper for one or two days before the sale.
  • Make and distribute paper flyers.
  • Ensure you have plenty of change.
  • Hide anything not for sale, if buyers can see it, they might want it and be disappointed.
  • Double check electronics or other items so you can sell them in working order (all DVD cases have a DVD in them, etc.).
  • Have some spare grocery bags on hand to encourage the purchase of multiple items and help customers out who may be walking or biking.
  • Buy stickers or labels and a marker for making price tags.
  • An ad in the paper a couple of days before shouldn’t cost more than $20 to $40. It’s money well spent, as there are some people who think garage sale shopping is a sport.
  • Print off a few flyers and tape them around telephone poles or other designated sign-posting areas. Use bright, attractive, coloured paper if possible. Don’t forget to write what you’re selling, even broadly glossed over: Videos! DVDs! Electronics! Furniture! And more! This will get people to your garage sale who are looking for specific items.

Don’t think you can ask nearly what you paid for the original item at a garage sale, as that’s part of the bargain shopping ideal when it comes to used items. Garage sale hunters also know that the best stuff is usually gone first, so expect people before the sale opens, or set up half an hour to an hour earlier than stated in your ad.

If you have kids, the garage sale experience gets that much better for you. They can make and hang up the signs, help you set up on the day of the sale, run the till and earn a bit of money along the way.

Julian Merry is a Broker with Royal LePage/Johnston & Daniel Division.  Julian is a regular contributor to the Muddy York Toronto Real Estate Blog.  Julian’s website is located at www.julianmerry.com.

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Photographing homes to yield the best results possible

Posted on January 23, 2010 | Leave a comment

Internal photographs

The best time to take photos of the inside of a house is in the middle of the day. It will eliminate any odd tints or colours produced by direct sunlight, dawn and sunsets. Additional lighting may be unnecessary, but turning off all of the existing lights while relying on natural light can assist in revealing as to whether you may need to use it.

Composition

Incorporating compositional elements into your photographs can go a long way. Photos taken to sell a home do not have to be National Geographic-worthy, but the most interesting, eye-catching and memorable photographs usually contain an element of composition or two.

  • Try different angles and perspectives from within the room for something different.
  • Utilize leading lines: stairways, railings, floor tiles, any lines running throughout or into the photo to draw the viewer’s eyes in.
  • Crop thoughtfully. Zoom into the photo to avoid showing the cracked sidewalk, garbage bins, or power lines.
  • Patterns (like floor tiles) and colour (like a bouquet of fresh flowers) can attract attention and make the viewer want to keep his or her eyes on it just a bit longer.
  • If taking outside photos at dusk, turn on all of the lights so that the windows are illuminated and take a new photo every few minutes as the sun sets to capture the changes in the sky for a unique look each time.

Fill flash

The camera’s flash is not only for use in low-light situations or as the main light source in a photograph, it can also be a flexible lighting tool. Not using flash in the day time or in seemingly well-lit rooms can result in shadows, darker corners and unflattering light. However, using too much flash can also overexpose the part of the picture that is closer to the camera, leaving bright white areas around the edges.

Instead, use fill flash – a short burst of light that will subtly illuminate hidden details in the photo while only just adequately lighting other areas.

Fill flash is perfect for using when windows only brighten up some of a room and leave furniture in the dark, make the room look more spacious or provide a better representation of what the view through a window actually looks like while taking a photo from within the room.

Using fill flash might be one of the best options for taking well-lit indoor and outdoor photographs if additional lighting is impossible. Try taking photos with and without it, and you’ll be able to see the difference easily. Most cameras can be easily set to fill flash mode, but because every camera is different, you should consult the manual.

Otherwise, you can fiddle with the flash power output levels until your photos look nicer.

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