Durham Region Real Estate Blog

Well, they’re doing it again. Promising one thing and delivering another.

Have you heard the news that the provincial government is now planning on stopping the next extension of the 407 at Simcoe Street rather than taking it through to the Highway 35/115? Do the powers that be really think Simcoe Street has  the capacity to handle traffic resulting from a 407 terminus? In 2007 the Prime Minister of Canada and the Premier of Ontario committed to the completion of the 407 East Extension from current terminus at Brock Road in Pickering to Highway 35/115 in Clarington by 2013. This commitment has been reiterated on many occasions by Ministry of Transportation staff and Ministers in your Government.

I’m including a link here to a letter written by Roger Anderson, Regional Chair and CEO, The Regional Municipality of Durham. I encourage you to put his letter into your own words and then forward it on to the following representatives by fax or mail.

Region MPPs:

Christine Elliott, Whitby-Oshawa (905.430.1840)

John O’Toole, Durham (905-697-1506)

Jerry Ouellette, Oshawa (905-723-1054)

Joe Dickson, Ajax-Pickering (905-427-6976)

Wayne Arthurs, Pickering-Scarborough East (905-509-0334)

Also, think about contacting:

Premier Dalton McGuinty                                                   1-416- 325-9895

Minister of Transportation, Kathleen Wynne                       1-416 -327-9188

Minister of Energy & Infrastructure, Brad Duguid                1-416-327-6754

I believe that the 407 extension is needed. They’ve been promising it to us for years and now need to deliver. The last thing we need is to have the 407 end at Simcoe Street – a road that is already substandard. Together, we can make our government accountable to us. We need them to hear that all we want is what has been repeatedly promised to us!

Each season it is your well-maintained entryway that gracefully welcomes friends and family to your home. The fact that most passers by can see it readily provides plenty of incentive for homeowners to make this first impression a good one.

Clean and clear walkways, pretty landscaping and plenty of lighting will all enhance your home’s main feature, a gracious entrance. But here we will focus on the doorway itself.

Have you thought about replacing your front door? If is is poorly hung or has an improper fit, not only will you have a disappointing first impression, it could contribute to energy loss and security risks. In these cases, the door requires replacing. You may wish to consider a complete entry system, instead of just a door exchange. With the system, the door is pre-hung in its frame, with each of its components designed to work reliably together – your best bet when it comes to dependable energy efficiency and overall strength.

Your existing door may be in great shape, so a simple update may be all that is required. Painting will allow you to change the colour in the future, while staining a wood door will lend to a sophisticated, formal entrance.

In choosing a paint colour for the front door, it is important to decide on the overall look and feel you wish to achieve. Do you want to draw attention to the entrance as a bold focal point? Then choose a standout colour that contrasts (but is complimentary) to the exterior of the house.

If you prefer to have a discreet front door, then opt for a more subtle colour. Choose this option if your door is awkwardly placed so as to avoid disturbing the overall balance of your home.

Classic black makes a formal and grand statement. Navy blue and deep green work beautifully with terracotta brick exteriors, while stone or siding in grey looks best with a selection from the red family. Keep in mind that secondary doors and garages should not compete with the front door. For these areas, use an entirely different colour or one that blends closely with the exterior.

And don’t forget the hardware. As your top priority choose security over aesthetics. You want protection for any forced entry attacks. But there are several great options in the market today. Coordinate door knockers, kick-plates, house numbers, mail slots and light fixtures for a harmonious appearance.

An improved appearance pays dividends in enjoyments and will increase the resale value of your home. Buyers will spend some time waiting for their agent to open the lockbox to obtain the key for your home. You want them to be able to see a pretty door, that is well-maintained, giving them a preview of what to expect when they see the inside of your home. So go ahead and splurge a little. You never get a second chance to make a good first impression!

I’m a real estate salesperson, so I think it’s a given that my answer to this question is, “Yes”! But let me go a little further with my answer. The real estate market has always been a good, long term investment so whether you buy in an up or down market, if you hold onto your property long enough, you will see a return (and sometimes a substantial return) on your investment. Is that true of just about every investment? Likely, but I’m not a stock trader, so you’ll have to go elsewhere for that answer!

Today the market in the Durham Region is great. News reporters are going to tell you that the market statistics are down and the “bubble” has burst because they sell based on sensationalism. Do they think we can’t remember that they were saying the bubble had burst at the end of 2008? I don’t think there ever was a bubble and most real estate analysts will tell you the same thing. We have had a slow and steady increase in sales and prices within the Durham Region and any dips we saw at the beginning of 2009 have been regained. There are always going to be ups and downs in the market, just as in any business.

So should you buy a house now? Or for that matter, are you thinking “Should I sell my home“? Sure, maybe you will get a little less for your home this month than you would have received last month, but the house you buy is going to be worth less also, so it’ll all work out in the end. And if you are buying now, don’t worry that the house might have been $5,000 less if you waited another 30 days, instead, buy your own home, start paying your own mortgage and building up the equity in your house. In five years, you’ll wonder why you ever hesitated. Mortgage rates are still really low. Go to my website and see a banner/link to Kyle Erickson’s website for amazing mortgage rates. He has lenders that he saves just for my clients and you won’t believe the deal he can get for you!

So call and see what type of mortgage you qualify for, then call me and we’ll go find the home of your dreams!

July 1st is fast approaching and that means the HST will be here, in full force. There is plenty of news surrounding the implementation of this revised tax, but are you really prepared for it? How will it affect your home buying and selling experience?

The government has released general transition rules with regard to the HST and how it will apply to Realtors’® services. It is assumed that the commissions on a sale become due when the property is sold or leased and the portion that is subject to HST is determined to the extent, expressed as a percentage, that the services are performed on or after July 1, 2010. However, if 90% or more of the services are performed before July 1, 2010, the HST will not apply.

For example, a Realtors’® services are performed from June 1, 2010 to July 2, 2010 with the sale of the property closing on July 2, 2010. The Realtors’® commission becomes due at that time of closing. More than 90 per cent of the Realtors’® services were performed before July 1, 2010. In these circumstances, the GST at the rate of five per cent will apply to the REALTORS® services. In another example, a Realtors’® services are performed from May 1, 2010 to July 31, 2010 with the sale of the property closing on July 31, 2010. The Realtors’® commission becomes due at that time. In this case, two thirds of the services were performed from May 1, 2010 to June 30, 2010 and one third of the services were performed from July 1, 2010 to July 31, 2010. The Realtors’® will charge GST on two thirds of the amount charged for the services and HST on the remaining third.

HST highlights
• Starting July 1st, the HST will be in effect in Ontario.
• Purchasers of newly constructed homes for primary residences up to $400,000 would not, on average, be subject to an additional tax burden in view of the new housing rebate up to $24,000.
• There is a new rental housing rebate, similar to the enhanced new housing rebate, for new residential rental properties.
• For new homes constructed in full or in part prior to July 1, 2010 that are subject to the HST on or after July 1, 2010, a PST transitional housing rebate is available to provide relief in respect to the PST embedded in the home.
• HST will not be applicable to a used residence for re-sale.
• For those who sell their home in Ontario, there will be a 13 per cent tax payable on the real estate commission (an eight per cent increase on top of the current five per cent.).
• Lawyer’s fees will also be subject to the 13 per cent HST in Ontario, as will the cost of a Condominium Status Certificate, however the total cost of that status certificate will remain at $100.
• Moving costs, the cost of a home inspection and even home staging will increase to reflect the HST.

There will be some room to discuss whether you will owe HST on the commission paid when you buy or sell a home in Ontario. Each individual transaction will need to be reviewed and a decision made on the particular circumstances surrounding the sale or purchase. Stay tuned here, for the most up-to-date information.