ty lacroix: Key Points to Understand About HST for Real Estate - 02/11/10 06:18 AM
Home buyers and even some new home builders and renovators could be under the impression that any contracts entered into before July 1 will not be affected with HST.
Not so!
Here are some key points to understand:
Determining whether HST applies to a new home purchase is based on the date of transfer of ownership or possession. The amount of the HST depends on the price of the home. For homes under $400,000 HST will apply. Currently every home has a provincial tax of 2% included.In Ontario, there is the Ontario Housing Rebate so you may not see an increase … (10 comments)

ty lacroix: Fanshawe College Fine Arts in Downtown London? - 02/10/10 03:27 AM
Fanshawe College and the City of London are proposing an education and arts district in London bounded by Talbot, Kent, Clarence Streets and Market Lane.Fanshawe is looking to buy and renovate heritage-type buildings for as much as 100,000 square feet and hopes it's downtown-based school for applied and performing arts would ultimately have 1,000 students!
This would be another great economic spinoff for the city, for downtown and the Province of Ontario.
… (0 comments)

ty lacroix: Stop The Confusion: A REALTOR®'s Guide Of Medical Terms - 02/09/10 08:08 AM
Are you confused when your doctor says you have this or you are going to get tested for_________? With years of detailed research and many months of trials, I am pleased to offer you this breakdown of the most popular medical terms.
A word of caution. You should seek another opinion if you feel any of these pertain to you.
Artery................    The study of paintings
Bacteria................  Back door to cafeteria.  
Barium...................What doctors do when patients die. 
Benign..................   What you be, after you be eight
Caesarean Section........    A neighbourhood in Rome.  
Catscan..........................   Searching for Kitty. 
Cauterize........................   Made … (12 comments)

ty lacroix: I've Never Heard Of You Before - 02/09/10 02:11 AM
"I've never heard of you before". I have had prospective buyers or sellers say that to me. I have had other REALTORS® say that to me as well.One of the main reasons you have not heard of me or my brokerage is that we promote your property and not ourselves when we list your home. If and when we produce an ad in print, if we use a picture of us, it is not larger than your house.
People don't care about me or Envelope Real Estate Brokerage, they want to know about your property, what are the features and how can I see … (15 comments)

ty lacroix: What Do Men Really Want When They Buy a House? - 02/06/10 02:50 AM
I posted a blog yesterday about :What Do Women Really Want When They Buy a Home? http://tyslondonontarioblog.com/post/1476546/what-do-women-really-want-when-they-buy-a-house- and I was asked if there was a survey done on what men want.
For years it was the standard garage, games or recreational room, or a place for a shop etc. My experience recently has been kitchen work area, den or office, hot tub or jacuzzi type tub.
What has been your experience? I think we may be surprised with some of the comments.
Ty
… (21 comments)

ty lacroix: January 2010 Was a Good Month For Real Estate in London & St.Thomas - 02/05/10 11:25 PM
 472 homes exchanged hands in the jurisdiction of the London and St.Thomas Association of REALTORS(LSTAR). The ten-year average for January home sales is 450 so we are in a stable market with February being quite promising.
This month's sales include 377 detached homes and 95 condos. The average price of a detached London home in January 2010 was $235,416, up 3.1% over December 2009, while the average price of a condo rose 7.3% to $172,722. The average price of total residential (both detached and condo) was up 3.5% over December, 2009 to $222,798. Over the last three years the average year to date … (4 comments)

ty lacroix: What Do Women Really Want When They Buy a House? - 02/05/10 07:48 AM
What do women really want when they buy a house? A recent survey of 1000 women done by a national bank asked:"Describe the best things about home ownership". The poll was to probe their motivations and needs:
44% said they bought their home to feel "financially secure".
40% wished they had more knowledge about the fees associated with buying a home.34% bought a home to be able to "decorate or renovate the way they want."
32% wanted more information about the annual costs of ownership.
30% wanted more information on mortgage options.
I found the above quite interesting and in turn have … (15 comments)

ty lacroix: Oakridge Houses Sold For 101% of Asking Price in January - 02/02/10 04:14 AM
There were 7 houses that sold in the Oakridge area of London in January at an average price of $307,543 which was 101% of the asking price of $305,329 and on average these homes were on the market 52 days!
There were 4 condos in Oakridge  that sold at an average price of $178,453 which was 97% of the $184,200 asking price and on average those condos were on the market for 68 days.
At the present time there are 10 resale houses for sale in Oakridge and 7 condos available. As you can see by the January numbers, fence sitting … (0 comments)

ty lacroix: Variable or Fixed Mortgage? Both Have Merit! - 01/31/10 02:24 AM
You have just decided to purchase a home or your mortgage is up for renewal and you have a decision to make. Do I get a variable or a fixed mortgage?I get asked this all the time as a REALTOR® and my first question to you is what is your comfort zone? I cannot predict the future but I can help you prepare for the future by finding out what is most important to you regarding your financial health.
Some people are risk adverse and want to know what their payments are going to be consistently for the next 5 - … (9 comments)

ty lacroix: Ethics of Defaulting On A Mortgage - 01/30/10 12:53 AM
Where do you stand if some one defaults on a mortgage that they still can afford to pay, but choose not to, because their property value has dropped way below the amount of their mortgage?
Jeffery L. Seglin, a professor at Emerson College in Boston who teaches ethics was posed this question and in turn his reply was twofold.
A mortgage agreement is not a promise to do one of two things, either to make the payments or to give up the house. It's a promise to make the payments, period. Giving up the house to a bank is a penalty  for … (10 comments)

ty lacroix: 2010 Condo Guide for London Ontario Real Estate Prices - 01/28/10 06:03 AM
In this guide you will find pictures of condos that are representative of the different condo styles you will find in London Ontario.  This guide also includes a helpful link to a map outlining the city and city information and  phone numbers. School boards, utilities and much much more.
The condos each have descriptions and a price range. The current prices range as follows:
   A= UNDER $100,000
   B= $100,000 - $150,000
   C= $150,000 - $200,000
   D= $200,000 - $275,000
   E&F= Over $275,000
To receive this valuable free report go to www.condosinlondon.com
 You can also receive upon request, … (2 comments)

ty lacroix: Upscale Condo Bungalow For Sale in Exclusive Riverbend - 01/28/10 04:55 AM
Welcome to Rembrandt River West, an elegant and upscale community in North West London.
This Delaware Builders Show home is a bungalow with1352 square feet on the main floor and has a finished basement.Oak Hardwood flooring in foyer, main hall, great room and dining room. Ceramic flooring in kitchen and bathrooms.  Upgraded carpet in master bedroom and second bedroom/den on main floor. Master bedroom has a walk in closet with shelving, the ensuite has a jet tub and a separate shower with a quartz countertop.Maple kitchen cabinets with quartz countertop. Basement is finished with electric fireplace, 3 pc bath, french door … (2 comments)

ty lacroix: LondonWorks in London Ontario Canada - 01/27/10 02:15 AM
LondonWorks in London, Ontario, Canada
London is a dynamic community with a solid foundation of diverse business and industry sectors.  We welcome employers, workers and jobseekers and are pleased to provide you with access to information that will help you succeed in our community. 
This website reflects the London Economic Development Corporation's (LEDC's ) acknowledgement and commitment to the importance of workforce for a flourishing economy.   The workforce initiatives of the LEDC work to ensure a sufficient and appropriately skilled workforce is in place to support new business investments by companies wishing to locate in the London area and by businesses … (0 comments)

ty lacroix: Condos in London One Floor Bungalows - 01/21/10 06:17 AM
We have just made arrangements with Rembrandt Homes, a quality builder in London Ontario to represent their executive one floor condos in the upscale neighbourhood of Riverbend in west London.A quiet enclave of 55 units of attached bungalow condominiums from London's premiere builder of condominium residences.
Located 5 minutes west on Oxford Street, just past Sanitorium Road in London's fastest growing executive community. Continue along Oxford to Westdel Bourne, turn right and continue two blocks.Walking trails, parks, golf, shopping at the new Oakridge Mall just minutes away. Five minutes from Springbank Park, London's foremost recreational park. Only 20 minutes from the London Health … (8 comments)

ty lacroix: If You Co-Sign A Loan, What Are The Consequences? - 01/19/10 01:59 AM
     What are the consequences if your daughter and her husband want to buy a home, but recently asked you to "Co-Sign" on the loan?
    There's nothing wrong with helping a family member or close friend with buying a home.  However, co-signing on a loan should be done with great care and knowledge of the consequences.  Co-signing means that you are extending your personal credit for the benefit of someone else.  Problem is, if the borrower defaults, the lender will look to you for full repayment.  So you're not really a co-signer, you're a co-debtor.  Here are a few tips … (10 comments)

ty lacroix: Why You Should Get Pre-Approved For Financing Before Buying A Home - 01/19/10 01:35 AM
  Why would you consider getting pre-approved before buying a home? Years ago, buyers didn't worry about financing their home purchase until after they found the home they wanted to buy.  Once they had an accepted offer, they'd shop around for a week or so and then submit a loan application.
 The recent low inventory of homes for sale (in general) has made home buying highly competitive in some areas.  To compete, many buyers are now getting pre-approved for a mortgage.  This way, the buyer is seen as more stable, has greater influence in negotiating a purchase price, and can act quickly … (8 comments)

ty lacroix: Real Estate Sales, Are They Taxable? What About My House? - 01/18/10 04:27 AM
Real estate sales - are they taxable?  What about my principal residence?
The gain on the sale of real estate is a capital gain unless the property has been purchased with the intent of reselling at a profit, or developed and sold as a business endeavor.  If it is considered a business transaction, the entire profit or loss on the sale is taxable or deductible.  If the transaction is a capital gain (principal residence, summer cottage, second home, rental home, etc.), only 50% of the gain is taxable.
If the property is the taxpayer's principal residence, the principal residence exemption may eliminate all or … (12 comments)

ty lacroix: Should You Get A Home Inspection Before You list Your House? - 01/18/10 04:09 AM
  Should you consider  haveing a professional home inspection performed before  you put your home on the market? Why could you even consider this?
  Getting your home professionally inspected before you put it on the market seems like a strange thing to do at first glance.  In fact, many people don't even think of having homes inspected before they list them.  But once you understand how it can benefit you...the home seller...it turns out to be a very prudent decision.  Here's why...
 Home inspections eliminate any "surprises" that can delay or even kill a home sale.  They also help the seller negotiate better.  In most cases, … (6 comments)

ty lacroix: Remodelling Your House to Sell or To Stay In? - 01/17/10 03:16 AM
Are you planning to make major home improvements.  Are you worried about getting your  investment back when you decide to sell?  How do you  know if you are spending wisely?
  When remodeling, you must weigh the cost of the remodel versus the value of the finished product.  When I say "value," I am not only talking about resale value, but I am talking about the value of the remodel to you personally.  Some important questions to ask are how long you will be staying in your home and what benefits will the remodeling project bring to your daily life.
 Regarding resale value, your remodeling project needs … (2 comments)

ty lacroix: How To Influence Your Parents - 01/14/10 08:42 AM
Dear Mom and Dad:
   Since I left for university I have been remiss in writing and I am sorry for my thoughtlessness in not having written before. I will bring you up to date now, but before you read on, please sit down. You are not to read any further unless you are sitting down, OK.
    Well, then, I am getting along pretty well now. The skull fracture and the concussion I got when I jumped out the window of my dormitory when it caught on fire shortly after my arrival here is pretty well healed by now. I … (5 comments)