Life is funny

It’s a beautiful day in Toronto, mid January, mild weather and the perfect morning for a walk. I set out to Sherwood Park, a great park, with some hills and various pathways to keep my walk challenging and interesting.  I had my Iphone in my pocket, ready to take calls as needed, but mostly so that I could listen to music if I decided to.

I like to take the time on my walks to reflect on things, work out issues and solve problems.  For some reason, this made me think of the song “Ironic” by Alannis Morissette, so I found it on my ITunes and played it twice, paying attention to the lyrics. It resonates with me, and really how ironic life can be, as the song begins:

“An old man turned 98

He won the lottery and died the next day

It’s a black fly in your Chardonnay

It’s a death row pardon two minutes too late

Isn’t it ironic, don’t you think”

My walk continues, my thoughts turn to other music I find inspirational. Van Morrison came to mind, so I found the only album I have on my Iphone and started to play “Mystery”. 

“Let go into the mystery

Let yourself go

You’ve got to open up your heart

That’s all I know

Trust what I say and do what you’re told

Baby, and all your dirt will turn into gold”

Somewhere during that song, and my “awakening”, it happened. Splat, I slipped in the mud, with my bright white jacket. Covered from head to toe and all I could do was laugh at myself. 

So what do you do when you’re in a park, covered in mud. You take a picture of yourself of course, immediately send it to your kids and post on Facebook. The first comment arrived, and summed it up perfectly;

“That’s what you get for trying to exercise! It’s a sign....cuddle up on the couch and eat cupcakes.”  Well said.

Life is ironic, life is a mystery, eat cupcakes.

Too much stuff!

When I'm getting a home ready for sale, the first step is to de-clutter.  Everyone knows you need to do it, but why? If your house or condo is stuffed with stuff, it says to potential buyers, "this house is too small, no wonder they are trying to sell it", or "I can't imagine where my things would go" because they are so overwhelmed with all the things you have that they can't imagine themselves living in the space.

I know for me it's a constant challenge. I spent a recent Saturday working on clearing the basement out, isn't it funny how everything you don't know what to do with ends up in the basement? On several occasions I have hired the expertise of Deanne Kelleher of Kaos Group to help me get my office organized and she was brilliant.  Deanne has a no-nonsense approach to clearing the clutter and knowing how things should be organized. So on my recent basement clearing task I tried to "channel" her energy, asked myself the questions she would pose to figure out where things should go.  But there is nothing like the real thing, so if you are looking for some order in your space, call Deanne, her website: Kaos Group

Another time people need to get some major clearing done is when they are downsizing to a smaller home, or moving a senior into a retirement home.   This can be a major undertaking, where does it all go? There is another company in the city that specializes in this type of work, their website is also full of great informaiton, check it out: Downsizing Diva

If you have too much stuff, get rid of it! You will feel so much better after it's done.

Davisville School Redevelopment

A few years ago North Toronto Collegiate was redeveloped. The school was badly in need of  very costly  repairs and renovation. The problem was there was no budget available from public funds. Therefore a deal was struck which involved  developers building a new school in return for land to build two brand new condominiums on the site. That's the simple explanation, but the entire consultation with all the stakeholders, approvals, permits etc. was far more complicated. Essentially a "Win-Win" solution was worked out, and my understanding is that it all worked out.

The same solution is being worked on now for Davisville Public School, located at Yonge/Davisville.  To read the full report of the Davisville Redevelopment Project, click on the link, it's very comprehensive and I think very interesting: Davisville Redevelopment Proposal

Here is a link to the Davisville Parent's site, which has detailed some of the meetings and discussions: Davisville Parent's Group

New Mortgage Rules Announced

Last week the Bank of Canada surprised us with some new rules around mortgage insurance.  The purpose of mortgage insurance is to help people buy homes, by providing insurance to the lender for the mortgage if you have less than 20% of the purchase price as a down payment. The idea behind this is that purchasers with a lower down payment may be more likely to default on their mortgage, so insurance is required by the lender.

As the cost of homes continue to rise, the need for insurance is even greater. As an example, if you were purchasing a home for $450,000, a 20% down payment would be $90,000.  Most first time home buyers don't have that large a down payment, so this is where mortgage insurance steps in. The new rules are in place to try to temper personal debt growth and cool down the Real Estate market.

Here is an overview of the changes:

• The maximum amortization period was lowered from 30 years to 25 years.
• The maximum amount that Canadians can borrow when refinancing their homes was lowered to 80% from 85% of the value of their homes.
• Households are now being constrained to a maximum gross debt service ratio and maximum total debt service ratios of 39% and 44%, respectively.
• Government-backed insured mortgages will now be only available on homes with a purchase price of less than $1million.

These new rules will take effect on July 9, 2012.

I think these changes are necessary to bring personal debt under control and to support our banking system.  Conservative measures keep everything in check, so we don't have a bust, as recently witnessed south of the border.

To learn more about mortgage insurance, check out the Canadian Mortgage and Housing Corporation website: CMHC

I fall in love

With houses. Yes, it's true, and a hazard of my profession. I'm in an out of houses most every day. Whether it's agent open houses during the week checking out all the new listings, making appointments to inspect homes I think a client might be interested in, or taking clients on a tour homes, the real estate hunting game!

On occasion I fall in love with a house. The features that catch my attention are an  incredible floor plan which creates bright space and great flow, beautiful kitchens, spa bathrooms, a landscaped garden, a fabulous deck.  They don't have to be "tall, dark and handsome", more like "Warm, bright and inviting".

I remember a few years ago when I was showing a home on Bedford Park, I fell in love and so did my clients.  Years have gone by, they have enjoyed it tremendously, and now it's time to move on.

If you want to have a look at a beautiful home check out the dedicated website for interior pictures, a video tour and floor plan. 362 Bedford Park Ave.

It's ready for someone else to love it.

Staging Works

As the saying goes, "you never have a second chance to make a good first impression".  That's where staging comes in, and it's become a standard in preparing homes for sale.  Whether it's a small condo downtown, or a large home in Toronto, adding a polished look to all homes can make the difference in how long the home takes to sell, and for how much.

The big de-clutter is the first step in getting a home ready.  They way we live in our homes from day to day, full of stuff everywhere, is not how we sell a home.  If there is too much clutter the message to potential buyers is "this place is too small", and it can have a negative impact on the way people feel in the home. So pack up all your extra stuff and take it to a storage unit, or order a portable storage unit that is delivered to your home, you fill it up and they take it away.

Next step is adding the glitz, decorative pillows, art work, bedding, fresh new matching towels in the bathroom and a few accessories to give your home that "showroom" kind on look.  This creates an inviting environment that potential buyers can see themselves living in, and they can focus on the size of the house and the layout, rather than on all your pictures and personal items.

I received this story in an email newsletter today from Monica Stanciu, from Staged2Sell, that can give you a clear picture of the impact of home staging:

"Although in a great location and a very good price, this property sat on the market for more than 3 weeks in April.  It had over 100 showings and received only one low ball offer that the seller could not accept. We did a bit of work in this townhouse: painting the hallways, fixing and cleaning the carpets and after all the work was done, we staged it. In less than 1 week this property sold firm for $40,000.00 more than the previous offer. A mere investment of $3000.00 for painting, cleaning and staging not only that made this property sellable, but put an extra 37K in our seller's pocket. I just wished he would've called us before he put his house on the market first time. The seller might have saved more in mortgage, property and maintenance fees. "

80 Carr St., Toronto after staging, it sold 40K more than the only offer it got while showing vacant. Have a look: Video

Visit their website for tips on staging and further information: Staged2Sell

MEMBER ALERT: Caller Impersonating REALTOR®

Real Estate agents and their clients become the target of some strange and bizarre behaviour.  This warning message was recently posted for Realtors on the TREB website.

May 10, 2012 -- A Brokerage has reported that an individual is impersonating one of their Sales Representatives.

The impersonator telephones Sellers who are listed with other Brokerages, sharing various negative opinions including that the Sellers’ homes are overpriced. In one case when a home was sold conditionally, the impersonator advised the Sellers that he could bring them a full price offer that evening.
The individual speaks non-stop in an aggressive tone and calls several times in a row until Sellers become so frustrated that they report the occurrence to their REALTORS®. As such, REALTORS® have been advising the Brokerage of their concerns.

The matter has been reported to police, who believe that the individual is placing the calls over the Internet and using software to alter caller identification so that it appears as that of the Sales Representative being impersonated.

Sellers who have received calls are located in various areas including Caldeon East, Oakville and South Parkdale. While there does not seem to be a pattern to the Sellers’ locations or housing types, many of the properties have been relisted or sold conditionally.

It has also been noted that the calls have been placed when Sellers are typically at home, such as on statutory holidays. While the situation has been occurring since January 1, the number of occurrences is increasing, with three reported during the first week of May alone. Members with clients who have been affected are asked to advise their clients to dial *57 immediately after receiving such a call, so that its origin can be located.

The prank call gone wild. How upsetting for everyone involved.