Oshawa, Whitby & Clarington Real Estate & Durham Real Estate News

“So what does life expect of you in 2012?”

By Lindsay Smith | Published: December 8, 2011

Better yet, what do you expect of yourself? Well, here’s the defining truth of the new year; we are all being held to a higher standard. The age of indulgence ended on Sept. 11. it’s now the age of accountability.

10 of the Best New Year’s Resolutions for 2012:

1. Resolve to stay brutally optimistic. See the opportunity in every difficulty and anticipate the most favourable outcome out of every situation. Whatever you look for, that’s what you’ll find. We can get better or we can get bitter; it all depends on the lessons we draw from each experience. Optimism is like electricity – very little happens without it. Know this truth: you have all the resources you’ll ever need to handle all the challenges you’ll ever have. It’s in the true emergencies that the true you emerges.

2. Resolve to identify the most powerful benefit you offer to the people around you and then deliver it. “The purpose of life.” Said George Bernard Shaw, “is a life of purpose.” What’s yours? Where are you investing your personal energy; self-preservation or adding value to others? Here’s the well-being paradox: if you’re only concerned about yourself, you cannot take care of yourself. Only by helping others can you succeed.

3. Resolve to pump up your personal vitality. In the game of life it’s not about whose right, it’s about whose left. Over 60% of us are more than 36 years old. The real currency of the new century is not cash, it’s about vitality. It’s the ability to keep going every day of every week of every month of the year with vigour and verve. All you are to the people around you is a source of energy and you cannot give what you don’t have. Ninety per cent of all adults do no physical exercise at all. More than half of us are overweight. A third of us still smoke. So, this year, resolve to enhance your physical, emotional and mental vitality. Take just a small step. First you’ll amaze yourself and then you’ll amaze everybody else.

4. Resolve to be habitually generous. Success is not something you pursue; it’s something you attract by what you become. The more you give of yourself, the more favours you attract from others. People have a deep-rooted drive to give back. So resolve to search for ways to contribute to others. Here’s an interesting aphorism: live above the line. If the line represents other’s expectations of you, consistently surpass those expectations. You’ll develop what the business author Ken Blanchard calls “raving fans,” people who become walking billboards for you.

5. Resolve to go on a mental diet. Sticks and stones can break your bones, but words can scar you for life. It’s humans, not elephants, who never forget. So resolve to use the language of conciliation, not the language of confrontation. Avoid the temptation to vent your negativity on others. Instead, use words that express your joie de vivre and connection with others.

6. Resolve to be a global citizen, fully open to the cultures and influences of others. There is a direct correlation between personal well-being and openness to other peoples’ ideas and cultures. If someone has a different point of view, they’re probably right as well. There are no absolutes anymore, so welcome different opinions. Become a one-person champion of plurality. Not only will you make lots of new friends, but you’ll also gather multiple reference points to help you resolve personal challenges.

7. Resolve to take control of your destiny. Don’t be so busy trying to make a living that you forget to make a life. Decide who you want to be and what you want to achieve and then stride boldly towards your vision. The most precious human commodity today is confidence.

8. Resolve to increase your human connectedness. The person with the best connections wins. The wider your network, the more opportunities you generate. It’s all about trust. And it’s all about profile – your presence in the minds of the people who matter. So invest at least 10 per cent of your time broadening your sphere of influence. Connect with other people to opportunities within your network: cross-pollinate their potential. When you are with others, make every encounter a pleasurable one. When you listen, truly listen. And burn your fear of rejection.

9. Resolve to increase your creativity by letting go of the familiar. Nothing is as far away as yesterday. Try to see the world through fresh eyes every day. As Salman Rushdie writes, every year is the stone age to the year that follows it. Listen to your intuition and follow your instincts, they’ll tell you what to do before your head has had a chance to figure it out. You are a Picasso or Einstein at something. Discover what it is and then develop it to the maximum.

10. Resolve to be you because others are already taken. You and I are at our best when we’re being authentic. We’re at our best when we’re being positively spontaneous because that’s when all our energy is being invested in the person in front of us or the task at hand. In a hyper-competitive world, we cannot afford to second-guess ourselves. Success in the new, new age is all about speed. So act now, because if not now, when?

So there you have it, 10 New Year’s Resolutions to help improve your life in 2012. So decide. And act”

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Published Articles: “should I make an offer $50,000 less than the seller is asking?”

By Lindsay Smith | Published: November 22, 2011

Lindsay: my husband and I have been looking for a home for the past few months and we are determined to get a fantastic deal. Our agent is not in agreement in how we want to negotiate when we find the property we want to buy. We want to start by offering $40,000 or $50,000 less than the sellers are asking and see how low we can buy the home. Do you advise buying a home this way or would you negotiate in a different way?

Tara

Tara: after reading your question and discussing it with some of my colleagues I would start by defining “market value.”

Market Value: is an estimate of the market value of a property, based on what a knowledgeable, willing, and unpressured buyer would probably pay to a knowledgeable, willing, and unpressured seller.

I think the most important words in the definition are knowledgeable and unpressured. Many feel that the way to purchase real estate is to offer a low price and then work their price up to an acceptable number. Sometimes this works and other times it either hinders the process or totally stalls it.

Lets cover a few local facts:

In our local area when homes sell they sell for 98% of the asking price.
In our local area 75 homes have reduced their prices in the past week.
83 homes have been taken off the market not sold. (terminated or expired)

So we are now “armed” with valuable information. We know how fair market value is defined and that homes are selling for pretty close to full asking price. (this would be another definition of fair market value) Also, many homes are coming off the market not sold. This tells us that there are many overpriced homes on the market and the ones priced accurately are selling.

The million dollar questions are: 1) how do we proceed when we find a home we want that is listed too highly? 2) What do we do when we find a home priced at or below market value?

Properties are unique and each brings not only bricks and mortar into the sales mix but also a seller with a unique situation. Some sellers have the attitude that they will move if they get a price over market and others have financial issues causing the price to drop to a point that will cause it to sell quickly. Doing some investigation usually helps in finding the best strategy. The one thing to remember is that all situation are different. This is where experience pays off in either securing a property that is below market value or negotiating a fair price with a seller asking more than market.

When the buyer finds a home that appears to be overpriced and is considering an offer that is dramatically below the asking price, the approach is different than if the home is price realistically. Gathering information helps you create a strategy and a plan to establish how to buy the home at market value. Having your agent talk with the listing agent might give some reason for the price. Sometimes homes are priced too highly due to an error the agent has made. In the end the best approach is to offer what you feel is fair based on recent comparable area sales. It is always hit and miss as to how successful you will be in your attempt to have an offer accepted. This is where an experienced agents skills shine. There are times that no matter how good the strategy is that a seller will not entertain a reasonable offer, so be prepared that this may influence the outcome.

When you encounter a home priced at market value or below the strategy changes dramatically. I was recently in a offer situation where a home hit the market and the day the seller was entertaining offers there were 4 in total. We offered $10,000 over asking and in our opinion we still negotiated a good deal for the home. On a regular basis, homes are placed on the market at really amazing prices and the strategy at that point becomes one of moving quickly and offering a very fair price with a clean offer.

When a buyer offers on a property, they enter not only into a contractual exchange with the seller but also a relationship with them. What I mean by “relationship” is that how the buyer manages the negotiation process can smooth the process, hinder it, or actually put a stop to the negotiations. An offer that is viewed as a “lowball” really sets the tone of how the negotiating process will play out.

Buying a home should be a fun process. The many “speed bumps along” the way can be smoothed out using an experienced agent. The more educated you are as a buyer means that if you encounter a home you like, you become an integral part of the process. I have had some of the best ideas come to me from buyers I have worked with when attempting to buy homes. Good luck with your home search and when you find that perfect home, I hope it is at or below market value and the negotiation process is a smooth one. Tara, more info on buying homes can be found at my online home at www.soldbylindsay.com

Published Article: Oshawa, Whitby, Clarington This Week – Do I Choose a Local or out of town Realtor to sell my home?

By Lindsay Smith | Published: November 10, 2011

Lindsay: we are considering selling our home and have interviewed a couple of local agents. My sister who lives out of town has recommended that we interview the agent who sold her home. The agents office is about a hour drive from our property. What are the differences in choosing a local agent as opposed to one from another town such as Toronto or Mississauga?

Carole Thanks for the great question Carole. When I first started selling real estate in the mid 1980’s things were considerably different, with limited access to information on homes. With the public having more access to homes online one would think that using an out of town or a local agent would make little difference. Let’s take some time and explore the differences.

Choosing either agent, your home will most likely be marketed on the Multiple Listing System; this is a given. (the only MLS system is with the Toronto Real Estate Board) However, once the home is on the MLS system you might see some differences that can help or hinder.

Once the home is placed on MLS how does the agent attract serious buyers to your home?

- Go thru the leads in their database that they have collected. Contacting all of the leads that have called or emailed the agent on other properties similar to the one listed for sale.

- Advertise the home in the best local newspaper (Oshawa/Whitby/Clarington This Week) – Network the property with your office colleagues and the sphere of local agents.

- Hold an agent open house – Upload the property to your website and place the virtual tour on web sites that buyers who are local frequent.

- Host a public open house and advertise the home to the public in ways that have been proven effective.

- Market the home to the data base of agents who have shown other local listings.

Having the experience to market homes in ways that are effective is one of the most important issues to selling a home. Marketing a home in the country is much different than a condo in downtown Toronto. Knowing the tools the local buyers use to look for homes allows the marketing to placed in front of the most buyers. Once the agent has attracted a buyer who is interested other factors come into play.

Buyers tend to ask similar questions when responding to an ad. Questions such as: where is the closest Catholic school, where is the best shop to buy steaks or which bus takes me to the GO Train are some of the common questions buyer ask. Buyers purchase homes to meet their lifestyle needs. It is not unusual for a buyer to ask dozens of questions about services, schooling and leisure options when “scoping” out a potential home. I recently had a client looking in a particular area because their son played for a rep hockey team and with other parents living in that neighbourhood the car-pooling would be much easier.

Once the buyer has found a home from some marketing method and made the decision to view the home, how fast can the agent be at the property to show it to the buyer? It is not unusual for a buyer to call me from a brochure on the sign post or from the “for sale” sign and request a showing in the next half hour. If the agent’s office is close by, the showing can happen quickly. Many out of town buyers wander our area and ask for showings of homes they in front of in their car. If the agent is unavailable the buyer moves on. If the agent is available the showing happens. Buyers like easy. Homes that are easy to find with effective marketing, easy to view when they get excited about the property and agents that are flexible and easy to contact.

Carole, local and out of town agents offer very different services. I would suggest interviewing several agents, using the above ideas to help you form your questions and choosing the best person for the job. For more information on how to choose an agent to help sell your home or for archived articles on the home selling/ buying process go to www.soldbylindsay.com

Posted in Absorption Rates - Whitby, Bowmville Real Estate, Courtice Real Estate, Oshawa Real Estate, Whitby Real Estate | Leave a comment

How are the increases in home values affecting young buyers in Oshawa, Whitby and Clarington?

By Lindsay Smith | Published: October 20, 2011

Interesting article in the Globe yesterday. They talked about how the median family wage has not increased since the late 70′s but housing prices have jumped on average 76%.

What is interesting is that the average home in Canada in ’76 was worth $192,400 and with the mortgage rates of the time it would carry for $1886. if a buyer bought a home in 2010 the average in Canada was $339,000 and if they mortgaged is with 5% down (as above example) it would carry for $1,525. Cost of living has risen, it is more expensive for the youth to get by but still when it comes to housing, the rates over the past decade have made the cost of ownership drop dramatically. One of the biggest impacts I have seen on younger peeps buying homes is the amount of student debt many carry.

One client recently just sold a rental home I had helped him buy years ago and he funded his kids education with the increase in value. If you can read this article.. it is very interesting. If you have children and would like to explore how to help them buy their first home or find ways of investing in real estate to ofset the cost of their education feel free to call or email.

A generation under pressure

Wednesday, October 19, 2011
Meet Generation Squeeze, caught between rising housing costs, stagnant incomes and dwindling services
INGRID PERITZ
MONTREAL

After Generation X and Generation Y, here comes a new name for young Canadians: Generation Squeeze.

A British Columbia study finds that young families in the country are facing growing financial and time pressures even as their baby-boomer elders head into easier-than-ever retirement.
It all has the makings of a “silent generational crisis,” according to researchers.
“The baby boomers as parents lucked out, and their children for the first time will not enjoy the same standard of living as their parents,” said Paul Kershaw, a political scientist at the University of British Columbia. “It’s become hard to raise a young family and easier to retire.”
Prof. Kershaw, an associate professor at the Human Early Learning Partnership, released a study on Tuesday with colleague Lynell Anderson showing that new families today have a lower standard of living than the baby-boomer generation, even though the Canadian economy has doubled in size since 1976.

And while the share of young women contributing to household incomes is up 53 per cent, average household incomes for young couples overall have remained static since the mid-1970s, after adjusting for inflation. Yet housing prices during the same period rose 76 per cent nationwide.
That’s left Canadian parents raising young kids today squeezed for time, money and child-care services, Prof. Kershaw said.

“What we have now is Generation Squeeze,” he said.
It’s a far rosier picture for boomers, according to the study. Compared to their counterparts in the 1970s, they’re heading into retirement well off because the housing market has nearly doubled over their adult lives, the study shows.

“They’re approaching retirement with higher incomes and more wealth than any previous generation of retirees,” Prof. Kershaw said.

The findings come as no surprise to young Canadians who have grown up in the shadow of the demographic juggernaut of the baby-boom generation.
Louis-François Brodeur, a 32-year-old PhD management student in Montreal, says the study resonates with a generation tackling growing debt and shrinking services.

“Between student debts, precarious jobs, the public debt and tough access to homes, it’s normal to feel cornered,” said Mr. Brodeur, head of a Quebec group called Force Jeunesse, which studies policy issues around young workers in the province. “I don’t want to call it a war between the generations, but young people know we’re going to have to find solutions. [Baby boomers] are very numerous and there are fewer of us.”
Rémi Bourget, a 29-year-old Montreal lawyer with a six-month-old baby at home, says his generation faces the “worst of both worlds” with high taxes coupled with growing user fees for health care and other services.
“I’m paying the debt for the previous generation – plus I’m paying for their retirement and health-care costs,” he said. “These are our parents and grandparents, but we feel like we’re cleaning up after their mess, while normally it’s parents who clean up after their children’s mess.”
The gap between haves and have-nots is playing itself out at Occupy Wall Street protests across North America, and it can only be addressed by tackling tensions between the generations, Prof. Kershaw said. But young Canadians can’t just blame boomers for their woes; they need to follow their elders by becoming more politically engaged, he said. That means turning out to vote.
“They need to care less about who’s being voted off some island on TV,” he said, “and more about who’s being voted into our legislatures.”
*****
The rise in Canadian median household income
Adjusted for inflation
FOR COUPLES AGED 25-34 – up 4.93%

FOR COUPLES AGED 55-64 -up18.2%

COUPLES 25-34                                                COUPLES 55-64
1976 – 1980 - $65,360                                 1976 – 1980 – $64,600
2005 – 2009 – $68,580                                 1976 – 1980 - $76,360

Incomes haven’t risen …

MEDIAN HOUSEHOLD INCOME
For couples 25-34, adjusted for inflation
76-’80 ’05-’09 PERCENTAGE CHANGE
CANADA……$65,360……..$68,580……..5%
B.C. …………..$72,820……..$68,600……..-6%
Alberta ………$70,780……..$79,080……..12%
Sask. ………..$62,720……..$66,300……..6%
Manitoba …..$59,660……..$63,100……..6%
Ontario ……..$67,540……..$72,920……..8%
Quebec …….$61,300……..$63,440……..3%
N.B. ………….$53,380……..$59,280……..11%
N.S. ………….$55,900……..$56,400……..1%
PEI …………..$54,060……..$56,920……..5%
Nfld. ………….$51,660……..$61,580……..19%
… but housing prices have
AVERAGE COST OF HOUSING
Adjusted for inflation
1976 2010 PERCENTAGE CHANGE
CANADA ..$192,390……..$339,045……..76%
B.C. ………..$202,635……..$505,178……..149%
Alberta ……$223,448……..$352,301……..58%
Sask. ……..$144,097……..$242,258……..68%
Manitoba ..$145,618……..$222,132……..53%
Ontario …..$203,234………$342,245……..68%
Quebec ….$128,984……..$248,699……..93%
N.B. ……….$136,953……..$157,240……..15%
N.S. ……….$156,604……..$206,186……..32%
PEI ………….$90,829……..$147,196……..62%
Nfld………..$141,007……..$235,341……..67%
THE GLOBE AND MAIL // SOURCE: UNIVERSITY OF BRITISH COLUMBIA

Posted in Bowmville Real Estate, Courtice Real Estate, Oshawa Real Estate, Whitby Real Estate | Tagged gm oshawa, home buying in oshawa, Homes for Sale Whitby, lakeridge hospital, Lindsay Smith Oshawa Homes for sale, ontario real estate, Oshawa Real Estate | Comments closed

Published Article: Oshawa, Whitby, Clarington this week – How do we choose the right Moving Company?

By Lindsay Smith | Published: October 14, 2011

Dear Lindsay: we have sold our home and are in the process of hiring a mover. Any thoughts on how to find one that is reputable?

Sam

Sam: very interesting question! (I have been getting the best questions lately) Hiring the right mover can be tricky… similar to hiring the right realtor. I contacted Steve DeBoer, owner of Two Men and a Truck, a local mover and his thoughts were: “Go with experience. Interview the company and ask how long they have been in business. Check with friends and ask for referrals. Call your local Chamber of Commerce or the Canadian Association of Movers for their recommendation.“ When asked what to be wary of Steve shared this: “make sure that the Moving company has WSIB Insurance. If they do not have this insurance and there is an injury on your property you may be responsible.”
Sam, hiring a mover should be no different than hiring a realtor, furnace contractor or accountant. Movers are service providers and the first place I would suggest would be to approach your family and friends and ask who they have used and what their experience was like. Next place to research might be to check with your realtor and ask for a personal referral. As a realtor I have helped more than a thousand families move, and have had many conversations with buyers about moving companies so I can be a good resource. (as can most seasoned agents)

Is the internet a good resource to find a mover? One great thing about the internet is that you can do quite a bit of homework online, however a CBC radio interview I had the opportunity of listening too recently indicated that the City of Toronto is in the process of voting on licensing moving companies. The City Councillor said that they get hundreds of calls per year from people who felt like they had been taken advantage of by movers. The councillor advised using the internet as a tool but being cautious and digging deep to find out the address of the mover, making sure they are a bona fide business. A quote from the staff report:

“Recent police investigations indicate that some household moving companies and individuals holding themselves out to be household movers… including but not limited to over charging customers and extorting extra service fees from them under the guise of purchasing insurance.”

A checklist for you to research a mover might go something like this:

1) Ask family and friends for a personal referral.
2) Ask your realtor for a personal referral. Check with the local Chamber of Commerce and the Canadian Association of Movers.
3) Check the local ads in the Oshawa/Whitby/Clarington This Week.
4) Cross reference personal referrals online to see what people are saying.(this can be as simple as googling the company name)
5) Using social media for research. If you have large list of friends on facebook, put the question out to the group. (or ask a friend who has a long friend list to used their facebook account)
6) Interview several companies and ask them for names and telephone numbers of recent customers. Ask how long they have been in business. Also, review the contract that they will want you to sign and if you are nervous have your lawyer look the contract over.
7) Use price as one reason to select a company, but really explore what they are offering for the price they charge. Ask what other expenses are common with their company.
Ask to see proof that the company has WSIB (Workplace Safety and Insurance Board of Ontario)

Sam, I hope this information helps. For more information on a “smooth move” visit my website at http://www.soldbylindsay.com/ Thanks to Steve DeBoer at http://tmt.twomenandatruck.ca/oshawa/.ca/oshawa/

Posted in Bowmville Real Estate, Clarington, comfree, Courtice Real Estate, Homes for Sale in Oshawa, Homes listed for sale by owners, Lindsay Smith, Lindsay Smith Oshawa Real estate, oshawa, Oshawa Real Estate, Remax Jazz Inc., Remax Oshawa, Whitby Real Estate | Comments closed

Whitby/Oshawa/Bowmanville Real Estate Absorption Chart December 2011

By Lindsay Smith | Published: October 7, 2011

	Absorption Rates for Whitby
	(Absorption rate is the time it would take to sell the current supply of homes for sale – in months)
	Price Range				December Sales		Active Listings		Months of Supply
	150,000 – 175,000				0		0		N/A
	175,000 – 200,000				0		1		N/A
	200,000 – 225,000				0		0		N/A
	225,000 – 250,000				8		6		.75 month
	250,000 – 275,000				13		12		.92 month
	275,000 – 300,000				12		19		1.5 months
	300,000 – 325,000				4		12		3 months
	325,000 – 350,000				16		27		1.6 months
	350,000 – 375,000				9		14		1.5 months
	375,000 – 400,000				12		14		1.1 months
	400,000 – 425,000				4		9		2.2 months
	425,000 – 450,000				0		10		N/A
	450,000 – 500,000				5		15		3 months
	500,000 +				8		33		4.1 months
	Absorption Rates for Oshawa
	Price Range			December Sales			Active Listings		Months of Supply
	150,000 – 175,000			10			16		1.6 months
	175,000 – 200,000			15			55		3.6 months
	200,000 – 225,000			12			24		2 months
	225,000 – 250,000			19			40		2.1 months
	250,000 – 275,000			15			24		1.6 months
	275,000 – 300,000			11			11		1 month
	300,000 – 325,000			7			27		3.8 months
	325,000 – 350,000			6			15		2.5 months
	350,000 – 375,000			4			12		3 months
	375,000 – 400,000			5			15		3 months
	400,000 – 450,000			3			15		5 months
	450,000 – 500,000			2			11		5.5 months
	500,000 +			2			26		13 months
	Absorption Rates for Bowmanville/Courtice
	Price Range			December Sales			Active Listings	Months of Supply
	150,000 – 175,000			0			3	N/A
	175,000 – 200,000			5			8	1.6 months
	200,000 – 225,000			8			7	.87 month
	225,000 – 250,000			8			21	2.6 months
	250,000 – 275,000			8			15	1.8 months
	275,000 – 300,000			8			15	1.8 months
	300,000 – 325,000			4			10	2.5 months
	325,000 – 350,000			2			12	6 months
	350,000 – 375,000			7			9	2 months
	375,000 – 400,000			0			17	N/A
	400,000 – 500,000			1			16	16 months
	500,000 +			3			14	4.6 months
Absorption Rates for Whitby/Oshawa/Bowmanville
Price Range		December Sales	Active Listings			Months of Supply
150,000 – 175,000		10	19			1.9 months
175,000 – 200,000		20	64			3.2 months
200,000 – 225,000		20	31			1.5 months
225,000 – 250,000		35	67			1.9 months
250,000 – 275,000		36	51			1.4 months
275,000 – 300,000		31	45			1.4 months
300,000 – 325,000		15	49			3.2 months
325,000 – 350,000		24	54			2.2 months
350,000 – 375,000		20	35			1.7 months
375,000 – 400,000		17	45			2.6 months
400,000 – 500,000		7	61			8.7 months
500,000 +		13	73			5.6 months

Keller Williams Energy, Brokerage

905-430-2320

www.soldbylindsay.com

Lindsay Smith, Broker

Posted in Absorption Rates - Whitby, Bowmville Real Estate, community, Courtice Real Estate, listing, market update, Oshawa Real Estate, Whitby Real Estate | Comments closed

Published Article: Oshawa, Whitby, Clarington This Week – When I buy a home how do I know that the Sellers will not remove items that come with the home?

By Lindsay Smith | Published: October 6, 2011

Hi Lindsay: We are currently looking for a home and a friend mentioned that they had moved into a home and the seller took some things that they asked for in the offer. How do I make sure that what we think will be in home will actually be there when we make our move?

Jaime

Hi Jamie, this question always arises when I am showing homes or working with a contract on behalf of a buyer. For starters, two of the key elements in buying a home are “good faith and trust.” If you think about the buying process, the closing date typically is 1 – 4 months from the time the sold sign is hung on the lawn. Houses are complicated products so I would like to divide your question into two specific answers.
Items in the home that break down prior to closing: in the event that there are issues that arise between the time the buyer purchases the home and closing date the seller is responsible to bring the issue back to good working order. I remember a home I sold in the mid 1990’s and about a week before closing my AC unit stopped working. I had a repair man in to repair the unit and he said it was so old that there were no parts available. Alas, I had to replace the unit. Things such as furnace, hot water tanks, air conditioning units and appliances need to be in good working order on closing. (assuming they were working when the home was purchased) A good protection in the offer is a clause that reads similar to this:
“The Seller represents and warrants that the chattels and fixtures as included in this Agreement of Purchase and Sale will be in good working order and free from all liens and encumbrances on completion. The Parties agree that this representation and warranty shall survive and not merge on completion of this transaction, but apply only to the state of the property at completion of this transaction.”
This clause is one of the best protections for ensuring that the home will be delivered to the Buyer in the same condition as it was purchased in.
Items that were intended to stay but removed by the Seller: I have found that when item has been taken when the contract indicates it is staying it is usually done by mistake. This is not always the case and sometimes a Seller knows that they should leave a fixture but decides to take it with them, however my experience indicates that most times an honest mistake has been made. So how do you protect yourself against this happening? I would suggest taking a digital camera or video camera on your home inspection in order to have a record of what you are buying. You would be wise to jot down all of the appliance brand names and models and serial numbers. (many times this is done by the home inspector) I would highly suggest a digital camera. Recently I found that a homeowner had switched a beautiful fan in the kitchen with a less expensive one. We picked up the change when comparing the pictures to what was in the home on our last visit.
Jaime, buying a home involves good faith and honesty, but a good digital camera and list of serial numbers goes a long way to making sure on closing you get what you think you purchased. More info on buying a home can be found on my website at www.soldbylindsay.com

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Published Article: Oshawa, Whitby Claritngon This Week: Should I have a Builder Sales Contract Checked by my Lawyer?

By Lindsay Smith | Published: October 5, 2011

Lindsay: I am considering buying a new home from a builder. Should I have the sales contract that I get from the builders sales person looked over by my lawyer before I sign it?
Shane

Shane: I have had conversations with my lawyer over the years about the importance of having a sales contract checked prior to signing. Jane McCarthy, from Palter McCarthy Law Offices in Oshawa reminds clients of the importance of having a legal opinion prior to signing. With a resale property, real estate agents use the same forms that are generated from a data base connected to either the Canadian Real Estate Association or their local boards. (sometimes the forms are the same) This allows a level of protection to the buyer, with the confidence that the forms are “tried and true” and have been proven to offer protections to both buyer and seller.
Builder sales contracts are totally different. These contracts are typically created for the builder and can contain some clauses that are not in the buyers best interests. Many of the clauses in the contract offer protections for the builder. Some of these are understandable, such as the unavailability of material or identifying how a buyer pays for upgrades. Other clauses, can cause some issues but are again necessary: the one clause that seems to get more buyers upset than any other is the one that allows the builder to postpone the closing date.
A recent small claims court decision in favour of a buyer dealt with a builder who had plans that denoted where the furnace was to be placed and when the buyers did their pre-delivery inspection it was moved to a very cumbersome space. (this was in an apartment condo) The wording in the builder offer that was at issue was; “the location of the furnace would be determined by the architect and may not be located as shown on the brochure and buyers will accept any alternative location.”As you can see this wording is not in the interests of the buyer.
When meeting with a lawyer to cover the contents of a builder offer the main talking points revolve around, HST, payment of upgrades, closing date changes and extra charges. (ie: utility hook-up fees, survey costs) Your lawyer will also cover any clauses that may cause concern between signing and closing. Like the line from a Tom Waits song, “the big print giveth and the small print taketh away.”
I would suggest doing your research on the builder and the location you are considering. Use social media to see what their past clients are saying about the sales experience. Once you get into an offer to purchase situation have it reviewed by a lawyer. In the end the more cautious you are in the process will pay off in a nice home and a smooth moving in process. More info on homes can be found at www.soldbylindsay.com and Jane McCarthy can be reached at (905) 576 7501.

Posted in Bowmville Real Estate, Courtice Real Estate, Oshawa Real Estate, Uncategorized, Whitby Real Estate | Comments closed

Eco-Energy Audits: Are there grants available for upgrading homes in the Oshawa, Whitby and Clarington Areas?

By Lindsay Smith | Published: September 22, 2011

This is an article that appeared in the Oshawa, Whitby, Clarington in September 2011.

Dear Lindsay: we are currently shopping for a home and I have been reading that along with a home inspection an “eco-energy” audit would help us evaluate the home before we commit to buying it. What are your thoughts on eco-energy audits being done at the time of the home inspection?

Cal

Cal: excellent question. I must say you are the first who has raised the idea of doing inspections at the same time, before you commit to buying the home you are interested in. For starters, you can only do an eco-energy audit if you are the owner of the home so until you take possession you cannot do the audit. That being said, I did some research on these audits and can share some thoughts on the value of getting them done once you take possession of the home.
I posed the question to Dan Silcox, owner of Amerispec Home Inspection Services who operates a service organization employing licensed eco-energy auditors: “Dan, what are the benefits of doing an audit on a home and would you encourage someone to do an audit on a new or newer home?” Dan explained that “the savings are very different when doing audits on newer and older homes. With newer homes the current building code ensures that the homes are relatively energy efficient. When we do an audit on a newer home we can usually identify areas of savings with heat loss. The true savings come when we do audits on older homes. These homes get savings in two ways: one in ongoing utility savings but also, with Federal grants available to upgrade windows, insulation, heating and air-conditioning systems. The savings can really add up for our clients.”
The money available for this program comes both Provincially and Federally:
Provincial money: Provincially, the only available money comes as a credit to offset the cost of the audit itself. The Provincial Gov’t offers up to $150 toward the cost of the actual audit. There is no Provincial money available for work done after the audit is completed.
Federal money: Federally, grants are available for a multitude of recommended changes. Furnaces, ground source heating systems (up to $4,375), thermostats, air conditioning units (both fixed and window units), heat recovery ventilation systems (HRV), hot water tanks, insulation (wall, ceiling, floor and crawlspace insulation), air sealing, windows and toilets.
As you can see if the audit is being done on a home that is older the savings happen not only with grants but also in utilities and the savings will pay for the cost of the audit itself many times over. According to Dan Silcox the basic cost of the Audit is $325 with the follow-up visit $165. Again, the Provincial gov’t covers $150 of this so really it costs you a total of $340.
Cal, you can find more information on home inspections at my website www.soldbylindsay.com or on eco-energy audits at Dan Silcox’s website amerispec.ca The info on grants can be found at saveonenergy.ca and just look for the eco-energy program.

I hope this helps with your question Cal, thanks for coming up with a question I have never had before.

Lindsay Smith
Broker

Posted in Bowmville Real Estate, Clarington, comfree, community, Courtice Real Estate, Homes for Sale in Oshawa, Lindsay Smith, Lindsay Smith Oshawa Real estate, oshawa, Oshawa Real Estate, Private home sales, property for sale by owners, Property guys, Remax Jazz Inc., Uncategorized, Whitby Real Estate | Comments closed

What do Buyers Want?

By Lindsay Smith | Published: September 6, 2011

What Do Buyers Want?

Remember just a few years ago if you wanted a cupcake you could get vanilla or chocolate and maybe just a few other flavors in between. Now all you see are elaborately flavored and decorated cupcakes. Today, it’s almost that way with buyers. Instead of a reasonably priced and relatively plain home in a nice area, many buyers have eaten one too many fancy cupcakes and want it all. Homes with sprinkles or a sparkler or two are the ones that sell.

The buyers we are talking about are young families and adults between the ages of 31 to 45. These buyers are in full course with their careers and are busy with their growing families and don’t have the time or money to update a house. Watchers of HGTV, they also have strong opinions about design features their new home will include. Take a look at some of these items and ask yourself how your home stacks up if you decide to sell.

1) Buyers want a deal! We are in a very price sensitive market and buyers want to know that they are getting the most value for their money. Saying that, Buyers are willing to pay more for homes that are in model home condition but either won’t buy or will discount significantly a home that needs work.

2) Kitchens and Baths Sell Homes! We know many Sellers do not like granite counters and stainless steel appliances but at this moment Buyers do! Bathrooms with dated tile should be updated and older vanities, sinks, medicine cabinets, hardware and light fixtures should be replaced.

3) Paint is an Easy Crowd Pleaser! Buyers want a house with a neutral palette to help them imagine their own decorating plans. Plain white, however, is mostly out and “Pottery Barn” colors are in. Wallpaper no matter how expensive and dear to a Seller must go as well as dated carpet. And, if you have carpet over hardwood floors, show the hardwoods. They are in and most desirable.

4) Let there be Light! Your brass or crystal Dining Room light fixture is no longer fashionable. Brush nickel and antique bronze are in. And, the overhead light fixtures that you have in your bedrooms and halls for the last 20 years must go. Good news, however, they are relatively cheap to replace.

5) Energy Efficiency! While most buyers won’t pay substantially more for green” and “energy efficient” improvements, they do want to know what it will cost to heat and cool the house and they do question whether windows, doors, the furnace, air conditioner, and hot water heater have been replaced.

6) It’s Clean Up Time! Buyers want a clean house. Not just a house where the beds are made and toys are put away but a house with clean windows, baseboards, siding, and refrigerators. Clean carpets, bathrooms, kitchens and flooring are essential as well.

7) Smelly Houses Don’t Sell! Any pet odors need to be eliminated, cooking food with strong odors (unless it’s bread or cookies) needs to be avoided, and if you are a smoker, your home will need to be de-odorized and you need to smoke outside-no kidding! If you do plan to sell, do not light any scented candles or install plug-ins. Today many Buyers and their families are allergic and will run out of a house no matter what the smell.

Oh Give Me Land! Buyers want a home with a connection between indoor and outdoor spaces. So even if your lot is relatively small, landscape it, deck it, fence it or do whatever is necessary to create a perception of another wonderful living area, even if that area is used only part of the year.

9) Size Matters! Buyers want more storage space as well as flexibility in the garage. If you have a storage room or area, make it look big by straightening it up and getting rid of anything that you haven’t touched in years or that you don’t plan to take with you. If you have a garage, clear it out so that cars can easily fit in. And if you have a carport, the only thing visible should be your car.

10) Beauty Counts! Today’s buyers start their search on the Internet and if they are not impressed by the pictures they see, they are not coming in. You simply don’t get a 2nd chance to make a 1st impression. To help you make your first impression GREAT, call The Soldbylindsay team at (888) 430 2320 Lindsay Smith, Broker