Frank Steinhausen, Broker
FSteinhausen@REMAX.net
RE/MAX Rouge River Realty Ltd., Brokerage
Phone 905-428-6533
Fax 905-668-1850
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Archive for March, 2008
Too Much Information: Municipal Tax Calculator for Your Durham Home
March 31st, 2008 Categories: Ajax, Buying real estate, Durham Region, Pickering Village, Real Estate News, Selling real estate
The average detached 3 bedroom home in Eagle Ridge of Ajax is about $410,000. For the privilege of living in Ajax, you will pay about $4753 in property taxes, or $194 more than last year.
What if you could move your home to Markham?
The same home would carry property taxes of about $3222.
If that’s not enough to question your location, if you moved it to Toronto, it would be about $2505 for 2008.
I appreciate that property taxes usually don’t figure into people’s home buying decisions. With the difference between an extra $200 a month or an extra $400 a month, maybe they should.
In case you were wondering, you could move to Pickering and pay $4607 or Whitby and pay $4831.
For more property tax fun, check out this article in the Toronto Star, from March 30, with it’s property tax calculator.
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Saturday afternoon hockey: A Pickering Village perspective
March 31st, 2008 Categories: Ajax, Area interest, Pickering Village
Like most people I know, it seemed, this weekend, I was enjoying rounding up the hockey season with play-offs. My daughter has been sitting on the sidelines for a while after losing their elimination rounds in the Provincial and Lower Lakes Girls Hockey divisions. My son, being a first year goalie, has enjoyed a little less intense hockey playing at house league level. I can tell you, though, it was no less exciting for the fans.
My son had the privilege of playing for a welcoming group of players and coaches at SU Sportz on Saturday afternoon at the Village arena. SU Sportz welcomes all comers. No skill level or player is turned away.
This did present a challenge for my son when for two minutes he had to block sleeper shots fro junior players and the next two minutes, he had to brace himself for wrist shots from the senior line.
This past Saturday, after an up and down season, his team, the Toronto Maple Leafs, played for the bronze medal, against the Detroit Red Wings. And, unlike their namesake, pulled off an outstanding win.
The teams were deadlocked at the end of three periods of play, despite some aggressive rushes on the goalie, Detroit failed to get the red light on.
Overtime, proved to be more of the same. The players were up and down the ice and neither team capitalized on their opportunities.
Then, a goalie’s parent’s worst nightmare—a shoot out. It was the fifth 
skater for Toronto who finally got the best of the Detroit net-minder. Toronto won 4 – 3.
Well, it is not quite the Stanley Cup. It is a great way to spend a Saturday afternoon. And a great way to get your kids into a little bit of hockey.
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Top Three Rooms To Invest In: Upgrading to Sell Your Home
March 28th, 2008 Categories: Buying real estate, Durham Region, Pickering Village
My colleague, David Wall, at Pillar to Post Home Inspection sent me this information that I thought you would be interested in if you are thinking of upgrading before you sell your home:
Homeowners are continually exposed to the latest and greatest in remodeling and renovation trends on TV programs, in magazines, and on home improvement web sites. It seems there isn’t any place in the house that’s off-limits to improvement, expansion, or updating. If a homeowner is planning to remain in their home for many years to come, they should consider projects that genuinely suit their own needs - the custom kitchen, a fabulous master suite, a new home office. But if the plan is to sell the home in the not-too-distant future, homeowners should focus on projects that will have the best chance of getting the highest return on their investment.
Let’s take a look at the 3 rooms that rise to the top of the ROI list of midrange projects (our list does not include home additions or necessary repairs):
- Kitchen
Average ROI = 83% (minor remodel), 78.1% (major remodel)*
Even within a particular room, project costs can vary widely depending on the extent of the improvements. A major kitchen remodel -custom cabinetry, expensive surfaces, high-end appliances, and engaging a designer - may cost upward of $100,000 and, on average, get a return on investment of about 78%. A minor kitchen “facelift”, on the other hand, averages a similar ROI in percentage terms, but will cost far less. This more-modest project may entail cabinet refinishing, replacement of countertops and flooring, and perhaps swapping out dated appliances for new but inexpensive models that improve the room’s appearance.- Bathroom
Average ROI = 78.3%* Bathroom remodels consistently rank at or near the top in term of return on investment. Whether it’s a powder room or a master bath, beautiful, updated surfaces, water-saving fixtures, and neutral tones are the minimal improvements that should be considered. Taking another step up, enlarging the room itself and adding luxurious “spa” elements such as a deep soaking tub, heated floors, and a double shower will obviously increase the budget and, likely, the appeal of a master bath.- All Rooms—Window Replacement
Average ROI = 81.2% (wood), 79.3% (vinyl)*
Replacing windows may not rank high on the glamour scale, but buyers appreciate the appearance and improved energy efficiency of new windows and are willing to pay for them. Insulated windows are a smart improvement for homes in any climate, and will make the house look better both inside and out.Here are a few more thoughts to keep in mind:
Regional differences
While the above figures are average, what’s most in demand in one geographical area may differ elsewhere. Do your homework before committing to a project.Aim for universal appeal
Avoid highly unusual designs, strong colors, and unique custom components that can be polarizing to potential buyers. Remodeled spaces should look great to the widest possible audience.Don’t over-improve
Homeowners should be careful to keep upgrades and improvements within the range of similar homes in their neighborhood. The most expensive home in the area, however attractive, is rarely the easiest to sell.
*Source: 2007 Cost vs. Value Report (Remodeling Magazine and REALTOR® Magazine)
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Help Sick Kids Care for Sick Kids
March 26th, 2008 Categories: Ajax, Area interest, Durham Region, Pickering, Pickering Village
I was out on errands today and I was listening to Mix 99.9. They are sponsoring a 3–day radio-thon to raise money for Sick Children’s Hospital in Toronto.
Each story moves me. I hear the children’s and parents’ courage and faith and persistence. I also hear about the courage, faith, and persistence of the staff. You can’t help become involved with their story.
I have my own story.
When my daughter was 18 months old, she severely burned her foot. She was treated at Sick Kids with care and persistence.
One memory is burned into my mind as what it means to have this world class hospital at our doorstep.
My daughter needed a skin graft. The doctor scheduled the surgery for Christmas Eve. As I sat in the surgical waiting room after handing my daughter over to the nurse, I woke from my own reverie to watch the only 2 other families waiting.
I knew that I was taking my daughter home that evening to spend Christmas at home. The other families were not so lucky. They did not know if they would ever take their child home. One group waited to hear if the doctors had stopped the bleeding their 16 year old son was experiencing as part of his treatment for leukemia. The other couple conversed with the doctor about their day old baby who had not fully developed before he was born.
I don’t know what happened to the other families that spent that Christmas eve in that waiting room. My daughter is healthy and strong.
I want to encourage each of you to contribute as much as you can to this wonderful place. Please go to either Mix 99.9 or Sick Kids to donate.
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Is Durham Region Growing? A Tale of New Home Starts
March 24th, 2008 Categories: Ajax, Durham Region, Oshawa, Pickering, Real Estate News, Whitby
I was flipping through the Durham Business Times that comes with my News Advertiser once and month and I hit on an article with the headline, “Oshawa’s February housing starts edge higher.”
I am a kind of scanner when it comes to the newspaper, so I immediately dropped down to the table included in the article to see if I was interested in reading on.
This is what I saw, as the Oshawa numbers:
Single family starts: February 2007–-46; February 2008–-33
Multiple family starts: February 2007–-0; February 2008–-0
Total: February 2007–-46; February 2008–-33
It’s been a long time since grade school—although I do help my daughter with her math, those numbers don’t look like they are edging up. To me, they are sliding down.
Here are the totals housing starts for February for the rest of Durham:
Whitby: 2007–25; 2008–49
Oshawa: 2007–46; 2008–33
Clarington: 2007–29; 2008–34
Pickering: 2007–2; 2008–4
Ajax: 2007–39; 2008–23
Uxbridge: 2007–16; 2008–2
Brock: 2007–0; 2008–0
Scugog: 2007–0; 2008–0
Oshawa CMA: 2007–100; 2008–116
Source: Canadian Mortgage and Housing Corporation (CMHC)
The numbers that show an increase are Whitby and Clarington. They push the numbers up for the Oshawa Census Metropolitan Area (CMA). I guess that is the broad brush that they paint the east end of Durham with.
You can also see that development is a little slow for the other areas of Durham for February. For us in the resale market, seeing a slowing of new builds means that people might be looking at existing homes to purchase.
What I also see, it pays to read the small print, not just the headlines.
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Lazy Saturdays in Pickering Village: Coffee and a Muffin and Sunshine
March 15th, 2008 Categories: Area interest, Durham Region, Pickering Village
I had almost forgotten how clear the blue in the sky can look after the brooding gray of winter. The brown haze of summer hasn’t settled in yet and the snow still brightens everything.
Last week I was complaining about shoveling one more time. This week I ventured out along the cleared sidewalk to meet friends and neighbours who are coming out of hibernation with the sun. I can even see some grass peeking out from under the shade of a tall pine tree.
As I walked I noticed some windows cracked open along Kearney Drive to let the fresh crisp air inside, clearing out the cob-webbed air of winter. I smell spring cleaning on the wind.
My stroll took me to the quaint Pickering Village Courtyard for a luscious hot coffee. Whipping (or chugging, depending on the line) through the drive-thru for a “Roll-up-the-rim” coffee has nothing on the fresh, smooth taste of the coffee at Hot Beanz in the Village.
If you haven’t checked it out yet, you need to give your taste buds a treat. You can even get a free coffee from the web coupon on the Hot Beanz web site. They feature fresh baked treats and fresh ground coffee.
Stroll on by, sit for a brew and enjoy the blue March sky.
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Thinking of Greening Your Durham Region Home: New Energy Initiatives Good To Know For Homeowners
March 12th, 2008 Categories: Ajax, Durham Region, Pickering, Pickering Village, Real Estate News
Grants are available for homeowners going green. Both the provincial and federal government have programs designed to encourage energy reduction. By staying up-to-date on the latest programs, you can offer clients valuable information that could save them money.
Natural Resources Canada (NRCan) is offering a new residential energy efficiency assessment service to owners of single family homes, including detached, semi-detached and low-rise multi-unit residential buildings (MURBs) that are no more than three storeys high. Under the ecoENERGY Retrofit program, property owners can qualify for federal grants by improving the energy efficiency of their homes and reducing their home’s impact on the environment.
How it works
NRCan-certified energy advisors conduct a detailed on-site assessment of the home’s energy use from the attic down to the basement. They provide a personalized report, including a checklist of recommended retrofits to improve the energy efficiency of your home and, in some cases, to reduce water consumption. The report also shows the grant amounts for each eligible upgrade that you can receive by carrying out these energy-saving improvements. The maximum grant you can receive for a home is $5,000.
For instance, if you replace an old natural gas furnace with the most efficient unit available (92% AFUE or annual fuel utilization efficiency gas furnace with DC variable speed motor) you could qualify for $1,350 in rebates: $500 (Federal) plus $500 (Provincial) plus $100 from Enbridge plus $250 from the Ontario Power Authority (Cool Savings Rebate). According to the Ontario Ministry of Energy, replacing an old system (63% AFUE) with a new high efficiency condensing furnace (93% AFUE) in an average 1,200 square foot, detached house will result in savings of approximately $450 per year.
Because of its high-tech design, a high-efficiency natural gas furnace squeezes the most heat out of every heating dollar. For every dollar you spend on energy, it produces 88 to 97 cents worth of heat. It could save up to 24% in energy and related energy costs and will also help insulate homeowners from increasing energy prices.
The high efficiency furnace and many of the other retrofits eligible for rebates come with a higher price tag, but environmentally conscious homeowners believe the energy cost savings – and reduced greenhouse gas emissions – are well worth it. Also, from a resale perspective, many potential homebuyers will view “greener” appliances as a desirable feature.
For more information on the ecoEnergy Retrofit Rebate program visit the following sites:
- Natural Resources Canada (Federal) Web site at www.oee.nrcan.gc.ca/residential/personal under residential housing, home improvements.
- Ontario Ministry of Energy Web site at www.energy.gov.on.ca and click on the Rebate update.
- For information on qualifying toilets from the federal and provincial perspective, go to www.veritec.ca under Reports, 11th Edition (test results start on page 16)
- For information on residential rebates from the Ontario Power Authority - Cool Savings Rebate Program, go to www.everykilowattcounts.ca.
- For information on Energy Star appliances go to www.energystar.gc.ca.
- For information on Enbridge rebates, check under Residential, Rebates Incentives and Energy tips at https://portal-plumprod.cgc.enbridge.com.
Check out other OREA news at their web site.
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Ontario Property Assessment Freeze Lifted
March 11th, 2008 Categories: Ajax, Durham Region, Pickering, Pickering Village, Real Estate News
The end of a three-year assessment freeze could mean homeowners in some parts of the province may face double-digit hikes in property taxes. The provincial assessment freeze ended on January 1st. However, the Ontario government says it plans to spread out any assessment increases over the next four years.
The freeze was initiated following several complaints from property owners to the Ontario Ombudsman’s Office that the Municipal Property Assessment Corporation (MPAC) was conducting inaccurate and unfair assessments. Following an investigation, the Ombudsman’s Office made 20 recommendations for improvements to MPAC’s assessment system including changes to the way the Crown Corporation communicated with property owners.
As of the last report, the Ombudsman stated that MPAC had completed 10 of the 20 recommendations and was moving forward on the remainder. Among the completed recommendations is a revised brochure that is sent out with reassessment notices. This brochure now mentions how important it is that MPAC’s information be accurate and urges people to report any inaccuracies. It tells them clearly how they can review their assessment and look at up to 24 property comparables, through a section of its Web site called “About My Property.” It also stresses: “If an error has been made, we will correct it. We are also happy to explain how we arrived at your assessed value and answer any questions.” Finally, it explains all the various ways you can complain about or challenge your assessment. In addition, the MPAC Web site now offers a lot more information about how properties are evaluated, and has posted many of its procedures online.
A new Property Taxpayer Web Portal is also being developed, through which owners will be able to access their Property Profile Report and comparables. The assessment notice form itself is also being redesigned for 2008. MPAC has done internal consultations, focus groups and property taxpayer customer interviews about this new form – but it is still reviewing it, because of the potential impact of the province’s new four-year reassessment schedule.
In the meantime, the revised assessment process is under way and property owners will be receiving their assessments in August and September. Current property taxes are based on market value assessments conducted by MPAC for January 1, 2005, and are determined by comparisons with the average city property value. If the estimated value of a property increases at a rate below the city average, the homeowner’s property tax will decrease. If property value increases at a rate above the city average, the tax will increase. The reassessed values, with a valuation date of January 1, 2008, will apply to the tax years 2009 through 2012.
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Real Estate Market Update: GTA Resale Housing Down but Healthy
March 7th, 2008 Categories: Buying real estate, Durham Region, Pickering, Real Estate News, Selling real estate
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“To get an accurate perspective of current market conditions, a number of factors have to be considered,” said Ms. O’Neill. “With 18,018 properties available for sale, inventory has decreased seven per cent from last February.” “This indicates that despite moderate sales, there is not an over-supply of homes on the market. Generally, properties that are listed are selling fairly quickly and with a list to sale price ratio of 99 per cent, for the most part, sellers are realizing their asking price,” O”Neill added. Despite the decrease in the number of sales from this time last year, there was positive news with respect to prices in February. At $382,048 in the Greater Toronto Area and $424,235 in the City of Toronto, the average price increased four and two per cent respectively compared to February 2007. As well, the time on market in February was 30 days compared to 35 days a year ago. Despite the overall decline, some GTA neighbourhoods experienced strong sales in February. In Pickering (E13) sales rose 28 per cent overall compared to a year ago due to a strong increase in condo townhouse and condo-apartment transactions. Strong condo-apartment sales also drove transactions in Rexdale (W10) to an overall increase of 18 per cent compared to February 2007. Richmond Hill North (N05) experienced a 19 per cent sales increase compared to a year ago primarily as a result of strong detached home transactions. “All economic indicators are in place for an active year in the GTA, and as the weather improves sales are expected to increase as well,” said Ms. O’Neill. Toronto REALTORS® are passionate about their work. They adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service. Serving over 27,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com. |
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TORONTO, March 5, 2008 - President Maureen O’Neill announced today, Toronto Real Estate Board Members recorded 6,015 resale home transactions last month, down 11 per cent in the Greater Toronto Area overall , 14 per cent in the City of Toronto and 9 per cent in the 905 suburbs compared to February 2007.| Currently No Comments »
Pickering Village Real Estate Market Moves: February Market Update
March 6th, 2008 Categories: Ajax, Buying real estate, Durham Region, Pickering Village, Real Estate News, Selling real estate
Our little pocket of community seems to hold on to its residents. Only 25 of the Pickering Village families sold their homes in February and moved on. That is about the same as last year with 22 homes selling in February.
Pickering Village registered the top sale price of $845,000 and the lowest sale price of $215,000. That kind of split puts the average price at $354,252 for the month. The average price might be skewed with that high sale as the average price for last February was $325,159.
The beautifully groomed homes in a mature setting like Pickering Village continues to draw buyers. And things are looking up as Ajax continues with its plan to enhance the arts and craft-pedestrian appeal of the area.
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