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 August, 2009
GTA REALTORS® Report August Mid-Month Resale Market Figures
August 19th, 2009 Categories: Ajax, Buying real estate, Pickering, Pickering Village, Real Estate News, Selling real estate
TORONTO, August 18, 2009 - In the first two weeks of August, Greater Toronto REALTORS® reported 3,832 sales – up 27 per cent compared to the first two weeks of August 2008. The average price for these transactions was up three per cent year-over-year to $383,796.
“The results for the first half of August indicate that many households in the GTA remain confident in their ability to purchase and pay for a home over the long term,” said TREB President Tom Lebour.
Year-to-date sales, at 54,303 are up slightly compared to 54,138 in 2008. Average price, at $385,603 is down by less than one half of one per cent.
“Strong resale housing demand will contribute to broader economic recovery as each transaction results in substantial spin-off benefits to other sectors of the economy,” explained Jason Mercer, TREB’s Senior Manager of Market Analysis.
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10 Tips for First Time Homebuyers
August 18th, 2009 Categories: Buying real estate
Ready to make the plunge, here are some things to think about 
along the way:
- Be picky, but don’t be unrealistic. There is no perfect home.
- Do your homework before you start looking. Decide specifically what features you want in a home and which are most important to you.
- Get your finances in order. Review your credit report and be sure you have enough money to cover your downpayment and your closing costs.
- Don’t wait to get a loan. Talk to a lender and get prequalified for a mortgage before you start looking.
- Don’t ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion.
- Decide when you could move. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area?
- Think long-term. Are you looking for a starter house with the idea of moving up in a few years or do you hope to stay in this home longer? This decision may dictate what type of home you’ll buy as well as the type of mortgage terms that suit you best.
- Don’t let yourself be “house poor”. If you max yourself out to buy the biggest home you can afford, you’ll have no money left for maintenance or decoration or to save money for other financial goals.
- Don’t be naïve. Insist on a home inspection and, if possible, get a warranty from the seller to cover defects within one year.
- Get help. Call me.
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How to Find and Choose a Mover
August 12th, 2009 Categories: Area interest, Buying real estate, Selling real estate
I recently found a web site that has oodles of information that could help you when you are ready to put your stuff in boxes and move to your dream home.
Relocation.com has many articles, checklists and insights that can help things go smoothly.
Here is an example of what you will find there:
Before you buy a car, you read reviews, take test drives, and bicker with the car salesman.
Before you buy a house, you look at many different styles and sizes before choosing the right one — and then you hire an inspector to look at it even more closely.
Heck, you probably even check out restaurant reviews before going out to dinner.
So when you move, why don’t you spend as much time — or even more time — choosing a moving company?
Most people don’t.
An Important, Complicated Decision
Choosing the best moving company isn’t easy. The moving industry’s complicated, and to ensure you get a quality moving company, you have to put in some legwork.
However, it’s something you MUST do, because there ARE rogue movers out there that will take advantage of the unsuspecting.
The good news: You can spot them.
In fact, if done right, finding and hiring a moving company can be a smooth, painless exercise, so long as you follow a few basic steps and stay on your toes.
This article’s your first step.
It outlines the major parts of the process of finding and hiring a mover, with links to other resources to help you with more detailed information. It also comes with the Relocation.com Checklist – print it out and use it as a step by step guide to hiring the right mover.
So let’s get started.
1. Look for mover names. Ask for recommendations from family and friends, check out the phone book for local movers, and go to a Website that offers free quotes.Don’t assume that a big van line is your only option; there are plenty of quality independently-owned movers that can offer you a great experience at a reasonable price. (See this article for a background on the moving industry and the major players.)
2. Start calling. Don’t get quotes over the phone; the only solid estimate is one that you get after you have a moving company representative in your home looking at your stuff.
However, use this initial phone call as a good screen to to see if you’re comfortable with the movers – ask about the number of moves they make, whether they own their own equipment or contract out; how long they’ve been in business; and whether they’re a member of the American Moving and Storage Association. None of their answers should disqualify movers, but they’re a good way to give you a glimpse into the type of company you’ll be working with.
After talking to a handful of companies, arrange for at least three in-home assessments so you can get accurate estimates of how much your move will cost.
3. The in-home assessment Show the moving company EVERYTHING you plan to move. The more thorough you are in detailing what has to be moved, the more accurate the estimate will be.
Also, let the estimator know about any factors at your home – or the home you’re moving to – that could complicate the move, like stairs to climb, which might add to the costs.
Remember: Disclose everything so there are no surprises at the end.
The in-home assessment is a good time to get a feel about the company you’re thinking of hiring – a quality estimator probably represents a quality company. You should also get a lot of information about the company, because this interview will form the backbone of your decision. (See this article for a full list of questions to ask your moving company.) There are several factors that determine not only the price you will pay for your move but the quality of service you receive. For example, some moving companies will negotiate for your business. (See this article for how to get the best deal for your move.)
Above all, beware the low-ball offer. If an estimate is way out of whack compared to the others, it’s probably too good to be true – and you more likely you are to get hit up for more costs later by an unscrupulous mover. (See this article for tips on finding a trustworthy mover.)
4. The estimate. Now that you have the estimate, be sure you understand it completely. The documents you get from the moving company should include the estimate, which could be a combined document that serves as your order for service and your bill of lading – be sure to clarify with your moving company. (See this story for everything to know about moving estimate.)
For an interstate move (generally known as a long-distance move), make sure the estimate has a description of the type and quantity of goods you’re shipping, the distance of the move, delivery dates, as well as any additional services you’ve requested. (See this article for more on how your long-distance move estimate is set).
A local move estimate (generally under 50 miles, but it varies state by state) won’t go by weight, but by hourly rate plus any additional costs you’ll be responsible for; an intrastate move over 50 miles will be based on weight. (This article describes more in depth how a intrastate or local move is conducted.)
During the estimate process, you’ll also be asked to consider valuation coverage to protect your goods. You are covered up to the certain predetermined amount – and your existing insurance policies could cover you as well, be sure to ask your agent – but it’s barebones, so you might want more. (This article describes more completely how much moving insurance you should buy)
5. The Final Check. You’ve narrowed down your list of your movers; now you should check them out with the secretary of state, the Better Business Bureau, and the Federal Motor Carrier Safety Administration to make sure the mover is licensed and doesn’t have any problems with unresolved complaints – it’s easy to do it, plus you’ve
come this far, so why not? (See here a complete final checklist to vet your moving company.)
6. Choose your mover!
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GTA REALTORS® report resale record in July
August 6th, 2009 Categories: Ajax, Durham Region, Oshawa, Pickering, Pickering Village, Real Estate News
TORONTO - August 6, 2009 — In July 2009, Greater Toronto REALTORS® reported a record 9,967 sales, up 28 per cent from July 2008. The average price for July transactions was $395,414 – up by six per cent compared to the same month last year.
“Households confident in their positioning within the current economic environment have taken advantage of housing affordability in the GTA,” said TREB President Tom Lebour. “The real estate sector has been one of the sectors making a positive contribution to economic growth in the GTA, not to mention Ontario and Canada more broadly.”
Year-to-date sales, at 50,632 are down 1.2 per cent compared to the first seven months of 2008. Average price, at $385,808 is down by less than one-half of one per cent.
“The steep drop-off in sales experienced at the beginning of the year has all but dissipated,” explained Jason Mercer, TREB’s Senior Manager of Market Analysis. “With five months left to go in the year, it is probable that total existing home sales in 2009 will be at or above last year’s level.”
Median Price
In July the median price was $339,900, from the $325,000 recorded during July of 2008
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Land Transfer Tax Calculator
August 4th, 2009 Categories: Buying real estate
I was reviewing the closing costs with one of my buyer clients recently and explained what additional money they would need to have on hand before they received their new house keys. It struck me that having these numbers before a buyer signs on the dotted line can help alleviate sticker shock in the lawyers office.
One closing cost is the land transfer tax calculator. Ontario home purchasers pay a land transfer tax based on the price of their new home.
You can find a land transfer tax calculator here.
Now Toronto has its own land transfer tax, so if you are purchasing in metropolitan Toronto, there is an additional calculation. That calculator can be found here.
The government has introduced some land transfer tax rebate programs. They are explained here.
For a complete list of closing costs, call me.
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