Sorry this is NOT Real Estate Related!

Sorry everyone, this is not Real Estate related however it is (to me) hilarious!

I hope you enjoy it.

http://www.youtube.com/v/hkOYQV4wTMM?fs=1&hl=en_US&rel=0&color1=0×006699&color2=0x54abd6&border=1

Is it time for you to get a New Furnace or Hot Water Tank?

Today my wife and I woke up at 4:30 am to find a flooded basement caused by a broken hot water tank. Definately not a good start to our 7th Wedding Anniversary none the less life goes on. 

We called Reliance Home Comfort; the company we rent our hot water tank from and they gladly came out and replaced our tank at no cost however, we still ended up having to pay $250.oo.  We were informed that the existing venting does not meet code and that it had to be replaced at the home owners expence before they could install the new hot water tank. The cost to for the Reliance Technician to install the venting is…                                                                                                                    2″ venting up to 10 feet: $155.00 + $9.00/additional foot + 13% HST                                                         3″ venting up to 10 feet: $257.00 + $13.00/additional foot + 13% HST

This is not a huge cost but, it can be an unexpected cost so please be aware that you may need to pay for new venting if you are installing a new furnace or hot water tank.  This new change in the venting regulations took place in 2007.

For more details you can follow these links…                                                                                        http://kw-homesellers.com/documents/System636TSSANewsletter.pdf                                  http://kw-homesellers.com/documents/B149_1S1_EN.pdf                                                          http://kw-homesellers.com/documents/B149_1U1_EN.pdf

Canada home resales rise for first time since March

By REUTERS, , Updated: September 15, 2010 10:27 AM

TORONTO (Reuters) – Sales of existing homes in Canada in August rose 4.1 percent from July, the first monthly increase since March, the Canadian Real Estate Association said on Wednesday.

The industry group said 32,807 homes changed hands in August, with most of the monthly gains concentrated in the two biggest markets, Ontario and British Columbia, a reversal from the previous month.

Compared with a year earlier, sales were down 22.5 percent on a seasonally adjusted basis.

Despite the modest monthly rise in sales, the general trend is still likely to be of further moderation in Canada’s housing market, which was a major growth engine as the economy emerged from recession last year.

Sales volume and prices heated up in the first half of this year as buyers sought to avoid stricter mortgage rules and new blended sales tax regimes in Ontario and British Columbia that came into effect at midyear.

Transactions were also packed into the first half of the year to avoid rising interest rates. The Bank of Canada started raising rates in June and has increased its key rate three times, bringing it to 1 percent.

“Rising interest rates and a projected slowdown in job growth mean that the Canadian housing market is expected to continue to cool,” said Georges Pahud, the president of Canadian Real Estate Association.

CREA said the national average price in August was C$324,928 ($315,464), on par with the same month last year at C$324,843. The number of new listings rose 1.9 percent in August from July.

($1=$1.03 Canadian)

(Reporting by Ka Yan Ng; Editing by James Dalgleish and Peter Galloway)

Breithaupt Community Carnival

It was a great time with the RE/MAX Hot AIR Balloon at the 2010 Breithaupt Community Carnival that was put on by the KW Optimists Club. 

This was my 5th year bringing to the RE/MAX Balloon to this great little Community Carnival.  As soon as the balloon started to rise the line up started.  We managed to give tethered rides to about 300 people with the last mini flight taking place at around 7:30pm. 

I would like to thank the KW Optimists for having us, My Pilot Keith, his crew, Steve and everyone who came to visit me. 

Here’s looking to next year’s carival!

Canada existing home sales fall, sales tax blamed

Here is an article for your reading pleasure…

Do you have any thoughts of comments?

By REUTERS, , Updated: August 16, 2010 1:11 PM

TORONTO (Reuters) – Sales of existing homes in Canada fell 6.8 percent in July, almost entirely because of fewer sales in the big provinces of British Columbia and Ontario, the Canadian Real Estate Association (CREA) said on Monday.

The figures are the latest to show that Canada’s recently hot housing sector is no longer playing a major role in the country’s economic recovery. Signs of a slowdown in the housing market have also cropped up in home-construction data and new-home prices.

“It looks like anyone who wanted to buy a house this year in Canada got their shopping done early,” said Doug Porter, deputy chief economist at BMO Capital Markets.

CREA said a total of 31,536 homes changed hands in July, for the smallest month-on-month decline in two months. Compared with a year earlier, sales were down 30 percent.

CREA said the national average price in July was C$330,351 ($317,645), edging up 1 percent from the same month last year. The number of new listings fell 7.2 percent from the previous month.

The slowdown in existing-home sales has been much forecast due to stricter lending rules, rising interest rates, and the introduction of harmonized sales taxes in Ontario and British Columbia.

“A slowdown in demand in these two provinces had been widely expected in July, as many purchases were brought forward into the first half of the year in advance of the introduction of the (harmonized sales tax),” CREA said.

The harmonized sales tax (HST) was introduced in July. Sales in British Columbia were down 14.1 percent, and in Ontario, they were off 8 percent. The two provinces accounted for 85 percent of the change in national activity.

Scotia Capital economists Derek Holt and Gorica Djeric said there were other factors outside of the HST that were weighing on the housing sector as every province recorded a decline in the volume of sales except Quebec.

“Rather, we’re going through a medley of influences that are taking away the momentum from Canadian housing in more than just a transitory response to the HST,” they said in a written commentary.

“Tighter mortgage rules, higher variable mortgage rates, and a return of supply in the resale and new home segments all provide a fuller picture of why Canadian house prices are correcting.”

Last month, CREA revised its forecast for Canadian home sales to say they will decline 1.2 percent this year, not increase as it previously forecast, but average prices should climb more than expected.

Porter said the next several months will probably bring “soggy” headline numbers for sales, “although with long-term mortgage rates dropping, employment improved and prices stabilized, the longer-term outlook is far from dire.”

Separately, RBC Royal Bank cut some of its residential mortgage rates by 0.10 percent on Monday. A posted five-year closed mortgage was at 5.49 percent, effective Tuesday.

($1=$1.04 Canadian)

(Reporting by Ka Yan Ng; Editing by Peter Galloway)

Home Sellers Guide

Thinking of making a move?  Here are a few things to keep in mind as you prepare to Sell your home.

When getting your home ready to sell, you need to look at your house in a new way. Think of your house as a product about to go on the market where it is probably competing with brand new housing. It needs to show well – which means clutter-free and well kept.

Today’s homebuyers lead busy lives and may not be interested in taking on major repairs or improvements upon moving in. You need to make your house a “10”. This Guide will help you spot what is right and what is not so good about your “product”. It will give you the opportunity to take corrective action to ensure your house looks fresh, clean and well maintained when the “For Sale” sign goes up.

Fix It First

If you need to make improvements to your home, do the work before it goes on the market. Potential buyers are not interested in hearing about your good intentions to look after defects before a transfer of ownership takes place. Even if fix-up work is underway, buyers may not be able to visualize what your home will look like when the work is finished. They will just remember it being in a state of disrepair.

Find a Realtor

Realtor Professionals will help in the process of selling your home.  They will help advise you on what needs to be corrected before your house goes on the market.  He or She will also be responsible for the marketing of your home as well.  Sign a Listing Contract with a realtor you are comfortable with and someone you who will have time to provide in the sale of your home.  Listing agents could be the difference if your home sells or not, ask for past history and examples from a realtor.  Meet with a few different Realtors before making a decision ask them about there marketing strategies there experience and the cost of hiring them as your Realtor.  This is very common to Realtors and will be more then willing to share this information to get your business.

Professional Inspection: Yes or No?

A serious buyer may want to have a professional home inspector check your house from top to bottom before making an offer. Even though this guide will help you identify problems on your own, the option of hiring a professional home inspector is open to you as well. If you can afford it, an inspection in advance of putting your home on the market is a good idea. It is your best way of finding and taking care of serious deficiencies before an inspector hired by a potential buyer discovers them.

Homeowner’s Inspection Checklist

This practical, easy-to-follow guide for homeowners will help you identify common house problems and deal with them. In it, you will find illustrated how-to tips offering effective solutions for every room of your house. Use the ordering instructions on the back page of this fact sheet.

Let’s Begin Outside

Check Your House’s Curb Appeal

How does your house look from the street? That is where prospective buyers will be when they first see your home; and, that is where they will form that all-important first impression. Stand at the curb in front of your house and note what you see.

• Remove any clutter in your yard.
• Repair cracked or uneven driveway or walkway surfaces.
• If your lawn has bald spots, apply some top dressing and re-seed. Prune trees and  shrubs of dead wood. Weed and mulch flower beds, if you have them. If it is the right time of year, consider buying some flower-filled planters to enhance the eye appeal of your property. Make sure your lawn is mowed regularly. Ensure that the composter area is tidy.
• Are your windows and walls clean?
• Does your front door need paint?
• Ensure your eaves and downspouts are clear of debris and in good repair.
• Are your backyard deck and walkways clean? If not, use a power washer and do any necessary painting, staining or sealing.
• If you have a swimming pool, are the deck and pool clean (when in season)?
• Do all outside lights work? Replace any burned out bulbs, and clean fixtures of dirt and cobwebs.
• Is there a shed? Does it look presentable?
• Do windows and exterior doors need recaulking? Even at 6-7 years of age, the caulking may be dried out and in need of replacement.
• Do you have decorative wooden poles on the porch? Is the wood at the bottom in good condition? Overall, does it need a new coat of paint?
• If you have a gate, is it well oiled?
• When you have completed the curb appeal inspection, carefully check the rest of your home’s exterior.

Will Your Roof and Chimney Pass Inspection?

If you are uneasy about climbing onto your roof, you can inspect most items from the ground using binoculars. Otherwise, be careful when working or moving about on your roof. Unless roof repair is a simple matter of applying new caulking, you will probably need the services of a professional.

• Check the general condition of your roof. Sagging sections, curled shingles, pooled water on flat roofs and corrosion on metal roofing mean it is time for repair or replacement.
• Both masonry and metal chimneys need to be straight and structurally sound, have proper capping on top and watertight flashing where they penetrate the roof.
• All roofs undergo stress from snow and rain loads, so a truss or rafter may become damaged, resulting in a noticeable small depression. A professional should do this inexpensive repair.

Examine Your Walls

The condition of your exterior walls directly affects the look and curb appeal of your home.

• Replace old caulking. You may have to cut or scrape away old caulking to get a good seal. Do not seal drainage or ventilation gaps.
• Is your exterior paint looking good? If you see faded colours and cracked or peeling surfaces, you need to repaint. Be sure to get competitive bids if you hire professional painters.
• You can clean vinyl siding but defects or damage to it and to metal siding usually means replacement.
• Stucco can be repaired but some skill is required to blend patches with existing stucco.

Now, Let’s Go Indoors

A prospective buyer will usually enter through your front door; so, that is where you should begin your interior inspection. You want your buyer to see a neat, clean, well-lit interior. Get clutter out of sight; ensure that carpets are clean and floors are scrubbed and polished; and that walls and trim show fresh paint (preferably neutral or light colours).

Take a sniff. Are there any unpleasant odours in your home? If so, track them down and eliminate them. Ensure all your lights work and are free of cobwebs. You want your home to look spacious, bright and fresh.

If you have considerable family memorabilia, consider thinning it out. Your objective is to help potential buyers feel as if they could live in your home. That mental leap becomes more difficult for them if your house resembles a shrine your family.

Professional realtors and decorators say the most important areas of your home to upgrade and modernize are the kitchen and bathrooms. Buyers also want to see new or recently installed floor coverings throughout.

General Interior

• Check stairs for loose boards, ripped carpeting, and missing or loose handrails and guards.
• Most problems with interior walls are cosmetic and can be repaired with spackling compound and paint.
• Ensure doors open and shut properly. Minor sticking is normal but excessive binding indicates possible structural problems.
• Open and close all windows to ensure they work properly. Fogging between the panes of a sealed window indicates the seal is broken and the unit needs to be replaced.
• Keep furniture to a minimum so rooms do not appear smaller than they are. Ensure that traffic can flow in or through rooms unimpeded. If they contain bookshelves or cabinets overflowing with books, magazines and knick-knacks, remove some of these items.
• Ensure closets look spacious, organized and uncluttered. Create space by getting rid of old clothes and junk.
• Remove or lock away valuables such as jewellery, coins, currency, cameras and compact discs.

Kitchen and Bathrooms

• People splash water around in the kitchen and bathrooms so check around sinks, tubs and toilets for rotting countertops and floors. Problems could be due to poor caulking or plumbing leaks. Fogged windows, molds and sweating toilet tanks indicate high humidity levels, which you can remedy with exhaust fans.
• In the kitchen, clean all appliances, including your oven. Clean or replace your greasy stove hood filter. Clean your cabinets inside and out, as well as your countertops and backsplashes. Repair dripping faucets.
• Remove anything stored on top of your fridge and remove artwork and magnets.
• Remove any items stored on countertops.
• Remove items stored under the sink.
• In bathrooms, scrub sinks, tubs and toilets, taking care to remove any rust stains. Remove mildew from showers and bathtubs. Fix dripping faucets or trickling toilets, and vacuum your fan grill.
• Clean mirrors, light switch plates and cupboard handles.
• Consider installing new 6-litre toilets if you currently have water-guzzlers.
• If you have ceramic tile in either your kitchen or bathroom, ensure grouting is intact and clean.

Basement

The condition of the foundation and main structural members in the basement are critical to the fitness of any house. The purpose of your inspection is to make sure these are sound and durable.

• Look for cracks, water seepage, efflorescence (white powder-like substance), crumbling mortar or concrete, and rotting wood. If any of these problems are present, you need to do further research to learn about causes and possible solutions.
• If your basement is damp or musty, consider using a dehumidifier.
• Like all other areas of your home, your basement should be organized and clutter-free.
• Change the filters in the furnace and have it cleaned–this is the number one item purchasers want done after a home inspection.
• If you have a pet with a litterbox, ensure the litterbox is clean.

Garage

• Get rid of the broken tools, old car parts, discarded bicycles, empty paint cans and the hundreds of other useless items that accumulate in garages. Again, you want a clutter-free zone.
• Use cleaning solutions to remove oil stains from the floor.

When It’s Showtime!

You have inspected your house and taken care of problems. Now you are ready for showings. You will need a plan of action that assigns duties to each family member so the place can quickly be whipped into shape.

• Open all drapes, blinds, etc. and turn on lights to make the house bright.
• Air out the house to get rid of cooking, pet odours, and so on.
• Have fresh flowers in view.
• Pick up clutter, and empty garbage.
• Make sure everything is spotless.
• Set your thermostat at a comfortable level.
• Remove pets from the house or put them outside.
• If you have an agent, leave when the house is being shown. If you are selling it yourself, you need to strike a balance between being helpful and crowding the buyer.
• In poor weather, provide a place for boots, overshoes and umbrellas.
• Display photos of the house in summer to show landscaping if selling in the winter months.
• Leave out heating and hydro bills.
• For those on a septic system and/or well, leave out inspection and maintenance information.

 

Taken from MYRealtyHub.com

Where to buy: Top 10 cities

Here is an interesting article writen by Jesse Kinos-Goodin, Financial Post

Check out where Kitchener, Waterloo, Cambridge rank…

When investing in real estate, sometimes it’s necessary to look beyond your own backyard. The Real Estate Investment Network (REIN), a national organization of investors, has compiled what it says are the top 10 Canadian cities in which to invest. Few are major cities and some are surprising. Don Campbell, president of REIN, as well as one of the researchers on the study, says the results are based on factors such as planned transportation improvements, or if the area’s average income, population growth and job growth are increasing faster than the provincial average.

Oddly enough, nothing east of Ontario shows up on the list, and while Mr. Campbell says cities like Halifax, Saint John and Moncton “still provide decent returns,” the top cities are ones that will outperform the national average between 2010 and 2015.

1. Calgary, Alberta - Calgary is “poised to outperform the average by a wide margin,” says Mr. Campbell, making it the top-ranked city.

After two years of declining average resale housing prices, the Canada Mortgage and Housing Corp. has predicted they will increase year-over-year in 2010.

The REIN report credits the downturn to a much-needed correction, and that it was “economically impossible for the [Calgary] market to continue at the pace at which it was heading.” But now that it is coming out of the recession, along with economies elsewhere, Calgary’s strengths in producing food, fuel and fertilizer will boost its growth.

“Calgary is in a unique economic and geographic position to take advantage of the direct and indirect jobs this increase in demand will create,” says Mr. Campbell, who adds that with strong in-migration and renewed affordability, the city provides a good buying window for long-term investors.

2. Kitchener-Waterloo-Cambridge, Ontario – REIN refers to Canada’s Technology Triangle as the “economic Alberta of Ontario.” That means KWC is not only seen as the economic engine of the new Ontario economy, but also that it “will outperform all other major regions in eastern Canada,” Mr. Campbell says. For indicators, he points to job growth, student growth and a new light rapid-transit system.

3. Edmonton – Edmonton sits near the top of the report’s list because of its future potential. Calling it a “perennial overachieving market,” REIN says the city is a “growing market, [with] an increasing population, and a forward-looking leadership.”

It will also be the main benefactor of energy development in Western Canada, says Mr. Campbell, resulting in a “very affordable, strong rental market with strong in-migration from across Canada.” Major infrastructure improvements, such as the ring road and LRT expansion, will be key.

4. Surrey, B.C. – British Columbia’s second-largest city is growing so fast it could become even bigger than Vancouver.

“Just a decade ago, it was known as the punch line to many a joke,” Mr. Campbell says. But with two border crossings to the United States, links to five major highways, deep sea docks and four railways, Surrey is a prime location to do business, he says.

Although there may be a strong rental market, it’s a city that requires a closer examination, taking “neighbourhoods and even the street’s characteristics into consideration when deciding where to purchase,” REIN warns.

5. Maple Ridge & Pitt Meadows, B.C. – The Translink and Gateway Project infrastructure improvements have made these B.C. towns the “most accessible regions in [Vancouver’s] Lower Mainland,” the report says. They’ve come a long way, Mr. Campbell says. The unofficial motto of Maple Ridge used to be “You can’t get there from here.” As a result of poor infrastructure in the past, property values have been historically low in this area. But with the improvements, it’s predicted an additional 400 business will move into the area, REIN says, improving the demand for both residential and commercial property.

 6. Hamilton, Ontario – “The perception no longer matches the reality of Hamilton,” Mr. Campbell says. “The city’s leadership, as well as local business owners, have transformed what was once a rough-and-tumble steel town to a city with economic vitality, diversification and population growth.” REIN applauds Hamilton’s leadership as being innovative in revitalizing the city, adding Hamilton “has beaten its overall building permit value for the second year in a row.” 

7. St. Albert, Alberta – “Long thought of as a satellite of Edmonton, St. Albert is poised to be the biggest benefactor of the new Edmonton Ring Road,” says Mr. Campbell, who adds that as the transportation access improvement is completed, the city will begin to experience “a flood of not only new residents, but also the relocation of companies and jobs into town.” Other attributes of the city include consistently low vacancy rates, high rents and strong property value increases. It also helps that the city has “turned itself into a major retail centre for the northern region while adding to its industrial and commercial job base,” REIN says.

8. Barrie & Orillia, Ontario – These two cities have been shedding the perception of being just cottage country and have become a “hot bed for growth,” Mr. Campbell says. University and college expansion campuses have brought new life to the area, and the addition of Go Train access has made them viable commuter towns for the Greater Toronto Area, REIN says. For investors, this all adds up to healthy property appreciation, a respectable vacancy rate of 4.7% and the youngest residents on average in a given Census Metropolitan Area (CMA).

9. Red Deer, Alberta - In the centre of the Edmonton-Calgary corridor, Red Deer is not close to either. But REIN suggests reviewing city plans, as there will be a lot of hidden opportunities. “The whole central Alberta region has witnessed very strong population and job growth, as well as a real estate market that has continually outperformed most other regions of the country,” Mr. Campbell says. He adds that with a continually expanding industrial and commercial job base, Red Deer is in a good position to “take advantage of the inevitable growth in demand for food, fuel and fertilizer.”

10. Winnepeg, Manitoba - Winnipeg is often left off the real estate investment radar, but Mr. Campbell says it’s a good city for “consistent economic performance — not too high during booms and not too low during downturns.” But people should stick to buying top-quality properties. REIN also notes that housing prices, after dipping last year, are back to double-digit increases, which could “lead to an influx of inventory on the market.” But with one of the lowest vacancy rates in the country, at 1.2%, there is room for movement. Another positive factor for the city is international immigration is expected to increase under the provincial nominee program being undertaken by the government.

NEWS RELEASE – Kitchener-Waterloo Real Estate Board – August 6, 2010

TEMPERATURES HOT, HOMES SALES…NOT SO MUCH

KITCHENER-WATERLOO, ON (Aug 6, 2010) – While temperatures were heating up in July, home sales were cooling off.

There were a total of 499 home sales through the Multiple Listing System (MLS®) of the Kitchener-Waterloo Real Estate Board (KWREB) in July, compared with 654 sales the same month one year ago, a decrease of 23.7 percent.

July’s residential sales included 332 detached homes, 80 condominium units, 39 semis, and 41 townhouses.

“While the hot summer we’ve been experiencing has reportedly been great for beer sales, it hasn’t quite had the same effect on home sales,” joked Ted Scharf, President of the KWREB. “The good news is that while sales may have decreased, in July the average price rose one percent to $284,344 compared to the same month a year ago, which clearly illustrates the value of Waterloo region homes is stable, and in no way inflated.”

On a year-to-date basis, the number of residential transactions is up 9.2 percent to 4,135 units relative to 2009. Similarly, the average price of homes sold so far in 2010 has increased 9 percent to $290,740 compared to last year.

The most popular price bracket in July was for homes selling in the $225,000 to $275,000 range, where 30% of the residential sales activity occurred, compared to 26 percent a year ago. Meanwhile, the number of homes that sold for more than $350,000 declined by nearly 30 percent last month relative to the same period a year ago.

According to the president of the KWREB, July’s dip in activity shouldn’t come as a surprise. “July tends to be a quieter month,” said Scharf. “And when you add in the recent implementation of the HST, after the record pace we saw during the first half of the year, the slower pace is to be expected.”