Mississauga Real Estate Blog

Energuy - The Game

Wed, 19 Nov 2008 02:33:17 -0600

This is an entertaining (and educational) online game from the folks at Quebec's Agence de l'efficaté énergétique ("Agency of Energy Efficiency"). Grab Energuy's hand, lead him around rooms, and point out the energy savings. You'll play it over and over until you find every one (20 in all), or maybe you can't get enough of the celebratory dance moves. B-)

GREEN - Residential Elective Course Now Available Online

Fri, 14 Nov 2008 08:32:19 -0600

The Residential elective course for NAR's Green designation has been launched at Realtor University. Check out the Featured Product link.

Enter the Discount Code "GREENRE08" (that's zero-eight for the last 2 characters) on this screen (not at checkout) to get the promotional pricing, i.e., 10% off the elective course, or 20% off the ABR+elective bundle.

Investing in Tax Sale Properties

Thu, 13 Nov 2008 23:38:16 -0600

Does this sound familiar?

I just submitted a sealed bid on a tax sale property, and I think I bid too much. Is it too late to back out?

Sounds similar to buyer's remorse. Here's the scoop when bidding on a property being sold by public tender for tax arrears (i.e., municipal property taxes, interest, penalties, and other reasonable costs incurred by the city):

Contact the City. Theoretically, you should be able to withdraw your tender (e.g., by written request) any time prior to the closing date/time for receiving tenders.
The City reserves the right to cancel a sale up until a tax deed is registered.
If your tender is rejected, the City will either send back your bid documents and deposit, or provide you with the necessary information for other arrangements.
If you are the successful bidder, you have 14 days to close. If you fail to close, your deposit is forfeit.
If the successful bidder fails to complete the sale and you're the second highest bidder, you are then given 14 days to close. And if you also fail to close, your deposit is forfeit.

That said, remember, "Nothing ventured, nothing gained." To avoid an expensive learning lesson, do your due diligence.

By its very nature, a tax sale property is a problem property. You can't include conditions on your tender, i.e., subject to financing, insurance, inspection, etc.
The "assessed value" is not the same as its "market value". Use conservative estimates, and budget for overruns. If this is an investment, treat it like one. You're in business to make money.
Consult a lawyer. Chances are you won't receive a survey, nor be able to tour the property, get vacant possession, or even obtain a key. Know the risks. Know your rights.

November is NAR's Designation Awareness Month

Sat, 01 Nov 2008 21:04:00 -0500

Yes, it's that time of year again. NAR would like to remind all of us of the value of professional development, and in particular, a NAR recognized/approved designation (or certification).

According to Realtor University, the "At Home with Diversity" online course is currently half-price ($24.50, reg $49).

For those of you attending the 2008 NAR Annual Conference and Expo (Nov 5 & 6), and taking the Green designation core course live, I'm looking forward to reading your reviews. The residential elective is slated to be available later this month as an online course, with the online version of the core course following in December.

Me, I just wrote my Professional Real Estate Brokerage exam this past week, and I'm hoping to wrap up my EcoBroker and NAGAB courses this month, after pushing them to the backburner for a few months. (*blush*)

Free Car and Upgrades with Purchase of Home

Sat, 25 Oct 2008 11:29:22 -0500

I don't think it's the start of a trend, but sooner or later, someone in Canada was going to borrow this incentives idea from the Brits.

Country Wide Homes took out a half page ad in the weekend Toronto Star. The builder is offering a 2010 fuel efficient vehicle (ok, it's a Kia Rio, valued at $7500) with another $7500 in builder upgrades with the purchase of a new home in Newmarket. (Alternatively, pick a different Kia vehicle and pay the difference, or get $15000 in builder upgrade.)

Also worthy of mention is that the 90 detached homes planned (on 36' wide lots) for this community are all designed to Energy Star energy-efficient standards.

Privacy vs Prospecting Expired Listings

Fri, 24 Oct 2008 19:54:53 -0500

Back at the start of 2004, REALTORS in Ontario (members of the Ontario Real Estate Association, OREA) were required to comply with the Personal Information Protection and Electronic Documents Act (PIPEDA). As a result, MLS systems later introduced an opt-in field indicating whether or not the sellers consented to be contacted after expiry of their listing.

And last month (September 2008), Canada rolled out its own National Do Not Call List (DNCL), where Canadians could register their number(s) and opt-out of telemarketing. Again, REALTORS are expected to abide with its associated rules. Single number look-ups on the web are free (guarded by a CAPTCHA), so prohibitive cost isn't an excuse.

What's troubling is that there are still registrants who prospect "expireds" in blatant disregard of these privacy provisions. In the past two days, I've come across two cases. In the first case, the registrant blocked the caller ID of her number and failed to identify her brokerage. The incident was reported to the DNCL privacy coordinator. The number was *57'd (call trace) but follow-up may require follow-up with law enforcement authorities. In the second case, after questioning the salesperson and reminding him of the Do not "contact after expired" flag on the listing, I sent a follow-up email to his broker-of-record.

I've got better things to do than police other registrants.

Reference: Privacy Tip Sheet (pdf)

ecoENERGY Retrofit - Homes Program Stats

Mon, 20 Oct 2008 13:30:57 -0500

Since the inception of the ecoENERGY Retrofit - Homes program (on April 1, 2007), the Office of Energy Efficiency (a part of Natural Resources Canada) reports that:

195,000 'D' audits (pre-retrofit assessments) performed
46,000 'E' audits (post-retrofit assessments) performed
$48.9 M in incentives (grants) paid out
average grant: $1060

NRCAN doesn't have any ready stats available on the distribution of homes by type (e.g., single detached vs semi-detached vs townhouse etc), but there is a breakdown by age of the home. As might be expected, owners of newer homes (less than 20 years old) were less likely to perform ecoENERGY retrofits than older homes. But an interesting observation is that nearly half the homes retrofitted were around 20-40 years old.

Higher Heating and Cooling Costs Due to Drafts and Poor Insulation

Fri, 17 Oct 2008 20:39:55 -0500

I've been researching polyurethane spray foam (or spray polyurethane foam, SPF) insulation (for the rim joists and pony wall in my basement), and I'm feeling a bit mixed about the idea.

A bit of background: Polyurethane spray foam insulation is mixed at the nozzle from two liquid components (proprietary to each manufacturer). The R-value is around 6-8 per inch (it appears to degrade a little over time), making it more space efficient than either rigid foam or fibreglass batt insulation of the same R-value. Another benefit is increased air tightness as spray foam insulation expands into gaps.

As part of my ecoENERGY retrofit, these seemed to be negatives:

the components contain either CFCs (ozone depleting) or HFCs (greenhouse gas estimated to be 12000x worse than carbon dioxide) as a propellant or blowing agent
off-gas during the first 24 hrs (note: some products claim no VOCs)
more expensive (per sq ft) than rigid foam or batt insulation

DIY Kits:

Zerodraft Z2 (from Mississauga-based CanAm Building Envelope Specialists); a 200 board foot kit is $556.65 CAD
Tiger Foam ($335 USD + shipping/duty/taxes, or $499 CAD + $75 shipping from a Canadian distributor)
Fomo Foam ($335 - 360 USD + shipping/duty/taxes)

Do-It-Yourselfers should read the instructions! For example, the temperature of the components at time of application is quite critical.

DIY isn't for everyone. Zerodraft has authorized applicators. WALLTITE is the blue spray foam that viewers of Holmes on Homes (starring Mike Holmes) have seen several times; BASF has a list of "Foam Masters", trained specialists in the proper application of their WALLTITE product. The Canadian Urethane Foam Contractors Association also provides a membership lookup.

Canadian Banks Cut Rates

Fri, 10 Oct 2008 12:56:00 -0500

I should also point out that Canadian banks are tightening up in other ways. Gone is the "prime minus discount" rate (e.g., "prime minus a quarter"), and expect to hear more "prime plus" quotes.

Keep this in mind if you're seeking a new or second mortgage or considering to re-finance.

Via Anthon Pang, Sales Representative, e-PRO, SRES:

On the heels of the Bank of Canada's announcement to cut its key overnight rate by half a percentage point (50 points, or 0.5%) to 2.5%, the big Canadian banks are also cutting their prime rate to 4.5% -- a reduction of only 25 points, no longer following the central bank in lockstep fashion. I'm curious to see where more nimble lenders will be offering for residential mortgages. Prior to the central bank's move, the best residential variable rate (3 yr and 5 yr terms) was 4.15%.

What's My Home's EnerGuide Rating?

Fri, 10 Oct 2008 12:46:15 -0500

All homes are not created/constructed equal. According to the pre-retrofit energy evaluation for my home, it only rates 65 points on the EnerGuide scale. For comparison, the average energy efficiency rating for a house of the same age (3 years) in Ontario is 74! This is overshadowed by the highest rating achieved by the most energy efficient houses in this category: a whopping 89!

Not surprising, an estimated 20-30% of the heat loss is through my unfinished basement.

My report also shows a combined leakage area of 1468 square centimetres ... roughly 1.58 square feet, or a hole big enough for a 17" (radius) beach ball to pass through. Yes, that's bigger than the basketball shown in this powerWISE commercial with Canadian environmental activist, David Suzuki.

I'll be exploring ecoENERGY grant statistics and comments from contractors in a future post.

Floor Plans of Your Home

Sat, 04 Oct 2008 18:25:23 -0500

Following up on my ecoENERGY audit, I obtained a copy of the mechanical drawings and heat loss calculations for my home, from the City of Brampton.

Since it's a reference plan for a model, it isn't necessarily accurate for my "as built" home. Differences include site elevation (percentage below grade), construction details (e.g., ceiling height, location of registers and return vents), furnace sizing, and furnace efficiency. Other sources of variance include infiltration (theoretical vs actual tightness), and assumptions, e.g., thermal resistance of uncompromised insulation.

One observation: for the walk-out basement elevation (unfinished basement), nearly half the heat loss is attributed to the basement's below grade (exterior) walls and floor. It gets worse quickly as the percentage of wall below grade increases.

Still, it should be relatively easy to determine the theoretical improvement (reduced heat loss) of insulating my basement. Of course, the only true test is seeing heating and cooling costs go down!

Via Anthon Pang, Sales Representative, e-PRO, SRES:

Would you like to see or have a copy of your home's floor plans? Well, the City of Brampton should have a copy of your home's building plans on file.

Just head over to the Building Division of Planning, Design and Development, now located at Flower City Community Campus (a "block" south of Queen St), address: 8850 McLaughlin Rd., Unit 1.

Once inside the building, head downstairs to Document Services. Don't forget to bring picture ID (e.g., Ontario driver's licence). The clerk will verify your identity against their tax roll information for the property. For a recent transfer in title, you may have to bring a copy of your Purchase Agreement to show that you are the new homeowner.

The clerk will then retrieve the microfiche for you to view. If you live in a subdivision, there's a reference set of plans submitted by the builder for each model, and a separate file specific to your lot. Among the things you might find: HVAC heat loss calculations, mechanical drawings, floor plans, elevation drawings, cross-sectional drawings, etc. (The city may not have a copy of your survey though.)

There's no cost to view your plans. If you'd like copies made, it's $5 per page + GST (capped at $25), plus a $5 access to information fee (per Municipal Freedom of Information and Protection of Privacy Act, R.S.O. 1990c. M56.). As an example, the reference set alone for my home was 30 pages.

What's My Credit Score? (Free Credit Report)

Fri, 03 Oct 2008 20:15:00 -0500

Your credit score is a measure of your credit risk at a certain point in time. The higher your score, the more favorable lenders may be. A proprietary version of the credit score by Fair Isaac Corporation is the FICO score which ranges between 300 and 900.

If you want to know your score, you can order (for a fee) an online credit report containing your credit score from Equifax and/or Transunion.

If you just want to see what's in your file, you can request a free copy of your credit report be sent to you through the mail. In fact, it's recommended that you review your credit report annually, and dispute/correct/update it as needed. (By the way, your credit report is also known as a credit file disclosure, credit history report, or consumer disclosure.)

	Equifax	Transunion	Experian
Online Credit Report	$15.50	$14.95	N/A
Online Credit Report + Credit Score	$23.95	$22.90	N/A
Request Credit Report by Mail	Free	Free	Free
Request Credit Report by Phone	Free	N/A	N/A
Request Credit Report by Fax	Free	N/A	Free
Request Credit Report In Person	Free	Free	N/A

How long does it take? (Note: your mileage may vary.) For example:

	Equifax	Transunion	Experian
Request Sent	September 15, 2008
Processed	Sept 23	Sept 25	Sept 19
Response Received	Sept 29	Oct 1	Sept 23
Elapsed Calendar Days	14	17	8
Elapsed Business Days	10	13	6

How do the reports compare?

Equifax's credit history goes back about 6 years from the last transaction. The report also listed residences from the past 10 years. On my report, seven (inactive) accounts should have been shown as closed. Of the residences, one wasn't -- it was a work address.
Transunion's credit report is the most comprehensive. The credit history and list of residences goes back almost 20 years. On my report, I had no knowledge of two accounts, in addition to two accounts that should have been shown as closed. Of the residences, one was a work address, one was a PO box, and one I had no knowledge of.
Experian is the newcomer on the block. While it was the quickest turnaround response, it was also the most incomplete, especially with respect to active accounts.

Conclusion:

Both Transunion and Experian provided the more up to date reports on active accounts. While Transunion provides the most comprehensive report, it also raises the most concern. None were 100% accurate or complete.

Advice:

An interesting pattern emerges. Don't simply let an unwanted credit card lapse. Call the issuer and close it.

Buy a Bulb, Plant a Tree

Thu, 02 Oct 2008 15:09:26 -0500

One of the "Every Kilowatt Counts" coupons is $4 off a decorative or covered CFL bulbs. Until October 24th, if you use your coupon at Canadian Tire on a 2 pack of Blue Planet energy saving bulbs, your net price is $3.99, roughly $2 per bulb, and comparable in pricing to regular, uncovered CFL bulbs. And for each pack that you purchase, Canadian Tire will donate $2 to Tree Canada and Trees Ontario. Details follow.

My Basement Leaks ... Air

Thu, 02 Oct 2008 10:47:41 -0500

While I haven't seen the final 'D' audit report, this much is clear: my basement leaks air like a seive. The main reason is because the basement is unfinished. Sure, there's batt insulation in the rim joists -- there just isn't enough, and there are gaps. (There's a little breeze in one corner.) Yeah, there's a polyethylene vapor/air barrier -- but it doesn't work well when it's hung loosely by a staple or two. And there is a foundation insulation blanket -- except it only partially covers the foundation wall (i.e., it doesn't extend all the way down to the floor) and its original R-8 value has been comprised by compression.

Otherwise, the house is pretty tight. (It should be...it's only 3 years old.) Attic insulation is R-32 and the furnace is 91% AFUE.

So, the planned improvements/retrofits are:

Goal #1: insulate 100% of the basement's exterior wall area to R-23. Objective: $2000 in federal and provincial grants.

Goal #2: seal the basement header area and increase insulation value by R-20. Objective: $200 in fed/prov grants.

Goal #3: air sealing to increase airtightness, at least 20% better than the target. Objective: $600 in fed/prov grants.

If I replace the existing toilet in the upstairs powder room with an approved one, I could also qualify for a regional rebate. And because the existing toilet is a low flush toilet, but not on the approved list, it could be reused in a basement washroom, where there's currently a 3 pc rough-in. So:

Goal #4: replace toilet with low-flush or dual-flush toilet rated at 6 L/flush and meets Los Angeles Supplementary Purchase Specification (SPS), with a flush performance of 350 grams or more, and is on the Region of Peel's "Water Smart Toilet Replacement Program". Objective: $200 in federal, provincial, and regional grants/rebates.

Happy "Every Kilowatt Counts" Day!

Thu, 02 Oct 2008 09:05:36 -0500

No, not really. The "Fall Every Kilowatt Counts Power Savings Event" runs from October 1st, 2008 to November 16th, 2008.

Visit Every Kilowatt Counts for more information. You can download coupons, get energy efficiency tips, and find contests and educational activities for your kid.

I kicked off the day with an ecoENERGY evaluation ('D' audit). Later in the day, I installed insulating switch and plug outlet foam gaskets (aka insulating sealers, draft outlet seals, or insulators). You can find a pack of 10 seals at Canadian Tire (made in Canada, CSA and UL approved), currently on sale for $3.59. The best online price (unfortunately, they only ship within the US) is 20 cents per piece at GoodCommonSense.net. (Disclaimer: I have no personal shopping experience with them.)

ecoENERGY Retrofit Grant - Money for Your Home Improvement...

Mon, 29 Sep 2008 15:44:57 -0500

A little background history: In 2006, the Conservatives scrapped the Liberals' Energuide for Houses program, tinkered with it a bit, and relaunched their own ecoENERGY program in 2007. Instead of a federal subsidy paying about half of the cost of audits and a portion of the retrofit costs, the new plan simply increases the coverage for retrofit costs.

Getting your grant money in 5 "easy" steps:

Hire a qualified energy advisor to perform an energy evaluation of your home. A list of qualified energy advisors can be found on the NRCAN web site. This pre-retrofit audit is also known as a 'D' audit.
Select any of the recommended improvements from the home energy action checklist prepared by your advisor.
Implement the desired energy upgrades within 18 months.
Call your energy advisor to perform your post-retrofit evaluation (also known as an 'E' audit), to confirm your new energy rating and to submit your application on your behalf.
Wait to receive your cheque in the mail (up to 90 days) based on the eligible upgrades performed.

Note: You're under no obligation to perform all 5 steps. Maybe you just want to know how energy efficient (or inefficient) your home is. In Ontario, the province will rebate up to half of the cost (max $150) of the 'D' audit, whether or not you implement any retrofits or perform an 'E' audit. If you do apply for the grant, Ontario matches the federal amount, dollar for dollar.

BTW a list of qualifying improvements can be found on the NRCan website.

For more information:

p.s. I've booked my ecoENERGY audit/evaluation for this Wednesday. I'll be blogging about my progress here.

Conservation Day Coming To Brampton

Sat, 13 Sep 2008 11:24:41 -0500

This is open to all Region of Peel residents (i.e., Mississauga, Brampton, and Caledon).

Coincidentally, Conservation Day in Mississauga was held last week during an exemption period (to the 2 bag limit) when residents were already permitted to place an unlimited quantity of acceptable waste at the curbside on scheduled pickup days.

Via Anthon Pang, Sales Representative, e-PRO, SRES:

Conversation Day is coming to Brampton!

Formerly known as Environment Day, this special one day event will be held at Fletcher’s Meadow Secondary School, located at 10750 Chinguacousy Rd., in Brampton, on Saturday, Sept. 27, 2008, between 8:30 a.m. and 3 p.m. Only residents arriving in vehicles will be allowed entry (i.e., no walk-in traffic).

Residents may drop off the following items free of charge:

household hazardous waste items (e.g., batteries, household cleaners, solvents, paint, motor oil, pesticides)

electronics (except TVs)

confidential fine paper for shredding, and

reusable goods for Goodwill (e.g., clothing, furniture, books, and small appliances).

The following items are not accepted at the event. Instead, you can take these to a local Community Recycling Centre (CRC):

waste wood

scrap metal

tires

TVs

(By the way, if you make a non-perishable food donation at the event, you'll receive a $10 voucher which you can use at a CRC.)

For more information, visit the Region of Peel Waste Management site.

The Green Shift or the Green Shaft - Canada - Election 2008

Sun, 07 Sep 2008 15:43:41 -0500

Well, it looks like Canadians will be going to the polls on October 14, pre-empting our American neighbours by a couple of weeks (November 4).

There may well be some historical stats to support this "rush" to the polls. I don't know. It's backroom political strategy. I get that.

And while I'm in favor of fixed date elections, the fact is we don't have an American style House of Representatives. Non-confidence votes can unseat a party in power. There are times that a party in power needs a strong mandate (e.g., a majority goverment) to pass more effective legislation. For a minority government, passing legislation can be a constant tug-o-war struggle, seeking consensus, compromise, and support. It has its advantages and disadvantages. And I get that.

What I don't get is "the green shift". If you look at the Chicago Climate Exchange, the market value of carbon offsets is currently under $3 per metric ton. (It briefly spiked over $7 per metric ton earlier this spring/summer.) The Liberals say: [and my editorial comments follow.]

The excise tax on gas is equivalent to $42 per tonne of carbon. [Say, what?!]
The carbon tax will start at $10 per tonne of greenhouse gas emissions and increase annually to $40 per tonne in 4 years. [What you talking' 'bout Dion?]
The carbon tax will be revenue neutral. [So, just to be clear, the Liberals would increase consumption taxes to offset income tax reductions or additional credits. Classic "robbing Peter to pay Paul."]

Increasing the cost of a product lowers demand. So, it must be good if we lower our demand for products that harm the environment.

But it must be that if we lower our demand, then consumption tax revenue declines. So, how do you fund those income tax cuts and additional credits? By increasing the carbon tax, of course. (Hence the annual increase.)

Here's a better idea. Stop greenwashing. Take 1/14 of the excise tax on gas (currently, 10 cents per litre) and buy carbon offsets, so we can all feel good about driving our SUVs.

OREA Pre-Registration Course and Exam Changes - Course 1, Course 2, Course 3

Sat, 06 Sep 2008 09:59:03 -0500

A number of changes (visible to students) are planned, starting April 1, 2009. These include:

Phasing out the real estate encyclopedia and provincial reference manual. Every course will eventually have its own textbook.
Courses to be renamed. Phase 1 becomes Course 1 ("Real Estate As a Professional Career"). Phase 2 becomes Course 2 ("Land, Structures, and Real Estate Trading"). Phase 3 becomes Course 3 ("Residential" or "Commercial").
All pre-registration exams will be multiple choice, in addition to being closed book (as of January 1, 2008).
With an automated exam administration system, every student will write a different exam (random ordering of questions, different questions) and receive their marks within days.

Free Tutoring and Exam Preparation for OREA Real Estate Exams - Phase 1, Phase 2, Phase 3

Tue, 19 Aug 2008 21:08:21 -0500

So you want to be a REALTOR? You're enrolled in a pre-registration or articling course and you're feeling a little lost. You see individuals offering to tutor, teach, and/or assist in exam preparation for OREA's real estate exams, but some look a little dodgy. Some may even tempt you with the lure of obtaining your "license" in as little as four months. Rest assured, I'm not one of those people. I'm different.

Instead, I am going to present you with an irresistible offer so amazing that I will confidently back it up with a no-questions-asked, 100% money back guarantee. Read on.

By the way, to thank you just for reading this far, I'm going to start with a no-obligation gift -- that's right, "GIFT" as in "FREE".

Your Free Gift. The "Top 10 Questions to Ask a Prospective Tutor":

What professional qualifications do you have as a tutor?
What is your professional real estate experience? Are you a registered real estate salesperson or broker, mortgage agent or broker, lawyer, or appraiser?
How long have you been in the business of providing tutoring services? How long have you had this phone number and web site?
How many students have you tutored?
What is the pass/fail rate among your students?
How many of your students have completed the articling phase and are still in the business? Can you give me some names and numbers to verify these "references"?
How have you adapted your tutoring/materials as a result of the closed book policy effective January 1, 2008 and resulting changes to exams?
How have you adapted your tutoring/materials to reflect changes to the Provincial Reference Manual?
How have you adapted your tutoring/materials to reflect changes to the workbooks as a result of REBBA 2006?
Do you provide a money-back guarantee? If so, how many requests for refunds have been given vs. denied?

But wait, that's not all. When you order, I'm also going to throw in an amazing bonus offer.

Your Bonus Offer. "Diggin' Deeper" (TM)

Google search the tutor's name. Can you verify anything he/she says? How credible is this person?
Check the Better Business Bureau and consumer complaint sites, like RipOffReport.com.
Ask yourself how this tutor markets his/her services. Does he post signs on lawns, lamp standards, etc? (FYI: these signs are usually a violation of local sign by-laws.)
Does this tutor send spam or bulk post his ads on lots of websites, multiple times, across numerous boards/forums?

You must be satisfied with all the answers to the above, and all before you even ask, "how much" or hand over your credit card and/or cash.

But before I get to the offer ... there's more. If you continue reading, you'll receive a mystery gift containing some incredible, little known, and underutilized tips.

Your Mystery Gift. If you have any course content questions, you can:

in class, raise your hand or seek out the instructor at the break or after class, and ask your question
call OREA's Instructor Support Line (1-866-444-5557, M-F 9:30am-4:00pm)
post your question on the new My OREA Community forums and receive responses from course administrators and fellow students

Don't be afraid to ask for help, to admit you don't know, or to question your understanding. Now is the time to seek clarification.

And remember:

The mini-review CD is just $10.
If you fail an exam, you can request a review with an instructor to discuss problem areas requiring further study. ($50 admin fee)
If you fail an exam, you can schedule a rewrite for a 2nd attempt. ($50 admin fee)
You have 18 months from the successful completion of Phase 1 to complete your final pre-registration course (either Phase 3 Residential or Phase 3 Commercial).

And now, what you've all been waiting for, the Offer. The offer is this piece of advice.

Do your due diligence when selecting a tutor. "Caveat emptor" applies -- buyer beware! Tutors are unregulated, and in this capacity, are not bound to any standards of practice or code of ethics.

You get all this, the free gift, yours to keep, the bonus offer, the mystery gift containing free assistance information, sage advice, and my personal guarantee, for the amazingly low low price of ZERO DOLLARS and ZERO CENTS. That's right folks, all this, the complete package, absolutely no-strings-attached F-R-E-E, FREE.

Order now. Operators are standing by.

Free Service - Certified Copy of Passport

Mon, 04 Aug 2008 17:37:14 -0500

There will be times when it's preferable to use a certified copy of a document rather than the original. For example, if you're a Canadian applying for an ITIN (Individual Taxpayer Identification Number) from the IRS, you may not want to send your original passport with your Form W-7 application. Thus, you might consider the service of a notary public. Certification of a copy of a document can cost between $40-$60. (Note: your lawyer, depending on your relationship, may charge your more or less.)

For a certified copy of a passport, there's an alternative. Passport Canada provides a little known service where they will provide a certified copy of your Canadian passport for free. (This isn't mentioned anywhere on the Passport Canada web site.) That's right, there is no fee for this service.

Simply, bring your passport into a Passport Canada office. Processing time is 5 working days.

If time isn't of the essence (that is, you don't mind waiting up to 6 weeks for processing), you can send your passport and letter/request by registered mail to:

Passport Canada
Foreign Affairs and International Trade Canada
Gatineau, Canada K1A 0G3

or by courier to:

Passport Canada
22 de Varennes Street
Gatineau QC J8T 8R1

Why You Shouldn't Be On A Pre-Authorized Payment Plan...

Sun, 20 Jul 2008 17:37:01 -0500

How 's your weekend? Hopefully better than my client's recent hair-puller...

Last month, the local utility decided to swap out his residential gas meter -- which was only a little over a year old -- as it had somehow been deemed defective. In any case, when swapping meters, the technician read both the old meter and the new meter (which starts at zero).

Well, it seems someone in the billing department goofed in the consumption adjustments. My client received a bill on a Friday for over $22,000 !!! Unfortunately, the billing department was already closed for the day and wouldn't re-open until Monday morning. Talk about sleepless nights...

Thankfully he was able to resolve the billing problem this past week. (In fact, after adjustments, he ended up with credit.) I'm so glad that I'm not on a pre-authorized payment plan with my local utility.

Builder Quality -- How I Hate Those Words

Sun, 20 Jul 2008 12:54:12 -0500

As a homeowner, I grit my teeth whenever I hear or read those dreaded words: "builder quality". *argh* Perhaps I'm a bit too meticulous. Maybe my expectations are too high. But "builder quality" seems to be increasingly used as a shorthand explanation or excuse for mediocrity...

"Builder quality" implies:

bare minimum code (or worse, what someone was able to get away with and/or slip past the inspectors)
not following the manufacturer's recommended installation practices (particularly where not covered by the building code)
cutting corners (substandard materials and/or workmanship); aka: why your new home looks nothing like the model homes
subcontracting to trades who provide the lowest bid or quote
inattention to detail
poor customer service

But over the years, I've become increasingly aware of "builder quality" red flags:

during the pre-delivery inspection, you find the light switches to the "his" and "hers" walk-in closets are reversed; while this isn't a compliance issue, such an obvious oversight might hint at latent electrical code violations
sub trades arrive on job site in a beat-up non-descript white van with expired plates
contractor/builder's favorite response during the warranty period: WONTFIX; worse yet, the phone number is no longer in service a week after the job is "done"
while running new electrical cable to install a potlight, you find a <insert food or beverage container> inside a space that had been drywalled over
nails or screws that pierce electrical cabling, network data cabling, plumbing, or otherwise miss the studs entirely (example: kitchen sink energized when the kitchen lights are on; or a clogged toilet traced back to blockage in a compromised waste line)
the condo corporation conducts a reserve fund study, and based on the 3 year old building being built to minimum code, and raises maintenance fees significantly (this is on top of other increases to property management fees, utilities to common areas, etc)

Not to say I've become desensitized to "builder quality", but as a real estate professional, I'm much more pragmatic. The perfect house doesn't exist. The reality is that "builder quality" applies to most homes, both new homes and resales, alike. (And while the codes have evolved, there's still room for improvement.) The truth is that there's little incentive for builders and contractors to substantially exceed the building code or electrical code, when they must largely compete on price, and buyers are generally sold on the cosmetics vs the underlying structure.

Ok, I'm getting off my soapbox now. Back to my weekend DIY project.

Ontario Real Estate License

Sat, 28 Jun 2008 07:12:02 -0500

How do I get a real estate license?

It's different in every jurisdiction. In Ontario, you'll want to visit the RECO and OREA College websites for requirements and pre-registration courses (Phase 1, Phase 2, and either Phase 3 Residential or Phase 3 Commercial).

How do I become a REALTOR?

In Canada, REALTOR is a trademark and its use granted to members of the Canadian Real Estate Association. It is not a title or a synonym for one's registration or license status, e.g., salesperson or broker.

Why should I join a local board/association?

For many, to access that board/association's Multiple Listing System. That MLS is the single most powerful co-operative marketing tool for active listings in that market. In addition, members can obtain historical listing information for comparative market analysis. When you join a local board, such as the Toronto Real Estate Board, you also become a member of the Ontario Real Estate Association and the Canadian Real Estate Association. Each of these organizations serves its members at different levels (e.g., statistics, education, lobbying, etc.).

Which brokerage should I join?

That depends on you. Brokerages differ in terms of business model, management, service offerings, in-house support and training, commission splits, fees, performance targets, etc. Even brokerages which are franchisees of the same franchiser will differ in some respects.
And remember, in all likelihood, you will be a self-employed, independent contractor, responsible for establishing your own client base, bookkeeping, personal medical benefits, schedule, etc.
By the way, if you're in the GTA or Hamilton-Burlington areas, feel free to contact me about our training program for new registrants and our platinum package for all agents: 100% commission, $69 monthly office fee, and $275 transaction fee.

Now, that said, you should know that competition is strong. RECO reports that the number of registrants has grown 31% in the past 5 years, and currently, 17% of the total number of registrants are in their 2 yr provisional period. In addition, competition is growing from external forces as well.

And like all businesses, there are both startup and ongoing expenses in real estate. (Note: some fees are prorated, so the full magnitude of these expenses may not be felt until the next calendar year.) If this is a full-time job, veterans recommend having the equivalent of 3 months income as savings that you can draw from. In fact, more is better. Why? Because commissions are payable on closing, which may be 90 days after the deal is signed, and it might be some time before you seal that first deal.

Sellers Upset That Buyer Agent (and Prospective Buyers) Are A No-Show?

Fri, 27 Jun 2008 16:12:07 -0500

Know Your Rights

Here's a hypothetical situation (or maybe it really has happened to you).

You've confirmed a showing and now you're making a mad dash to do some last minute clean-up while changing your dinner plans because that's when the buyers booked their appointment.
You decided not to have a lockbox, so you (or your agent) are now present for the showing. The porch light is on and the buyer agent was instructed to go direct.
You wait. The appointment window passes by. And you wait some more, just in case they're late.
But no one shows up. Not even a phone call.
And now, you're mad. And you have a right to be. You and your time should be respected.

That's why the Toronto Real Estate Board has a rule, R-515, that obligates the buyer agent to contact the listing brokerage (who in turn advises you, the seller) in advance if he/she (the buyer agent) is unable to make an appointment. (This applies whether or not you or your agent is/are present.)

A Word of Advice

When selling your home, consider getting a lockbox. You won't be stuck at home and you'll still be able to salvage the rest of your evening. Moreover, a lockbox will often get you more showings. Some buyer agents won't show a home if the sellers are present. And on the flipside, some sellers, unintentionally sabotage their own deals. Rely on the professionals you've hired to represent you and protect your interests.