Is Storage A Problem In Your Garage?

  Space in and outside our homes is often a problem for many of us but there are solutions. One, you can get rid of stuff (which I have done) and or two, you can create some additional space especially in the garage.  Besides having my own needs to address as real Estate Broker I am always helping clients solve various issues with the properties or ones they are looking to purchase. 

  Like my father (deceased) I am a car nut, actually anything with a motor in it gets my attention. Back in the fifties, sixties and seventies all the new car models came out at the same time usually in early October. It started when I was about four or five years old and my Dad would drag me around on a Friday night and Saturday to the various dealerships looking at all the new cars. I still remember staring at the first Mustangs, Camaros and Firebirds that came out.  I have owned and restored many cars over the years as well as motorcycles and boats.  

  Between my wife and I we have three vehicles, plus a boat and I have a motorcycle.  She has always loved Corvettes particularly the mid-sixties models but they have become very expensive. Looking for something more affordable that she could use and enjoy we found her a great, low mileage 1980 model, fully optioned with a factory four speed transmission which is somewhat rare. With all this "stuff" at home space was becoming s problem so we decided that a car lift in the garage was an potential option to look at. As with most major purchases we shopped around looking at the various vehicle lifts on the market, comparing features and of course price. We settled on a unit made here in Ontario (Oakville) that was well engineered and unlike some others used North American parts versus components imported from abroad. 

  The lift was delivered and installed this week and we are very pleased with the results. Taking advantage of the available ceiling height the lift allows us to store three vehicles plus my motorcycle in our double car garage. For hobbyists like myself a car lift is a low cost option that will pay for itself while de-cluttering your driveway. The lift allows you to raise a vehicle to different heights for cleaning and or doing other maintenance tasks including underneath the car. If you are interested visit The Lift Superstore in Oakville or I would be happy to answer any questions you may have so feel free to Contact Me.

What's In A Seller's Best Interest

  Late in 2016 and early 2017, real estate For Sale signs began appearing in our market with the added message "Coming Soon To Realtor.ca."  Consumers were and still are often confused not knowing what this statement implies so let's clear the air.

  Many of us visiting a movie theatre to take in a film often sit through a parade of ads highlighting upcoming films that are coming to the theatre soon.  "Coming Soon To Realtor.ca" signs have been used in markets such as Toronto and elsewhere for years and are a way in which a listing REALTOR® may choose to pre-market a property for sale before it hits the Multiple Listing Service (MLS).  Often this is done while the property's owner(s) complete some last minute preparations to list their home or condo for sale on the local MLS and this may include such tasks as interior or exterior painting, decorating, the staging of furniture, yard clean up, completing property photos and so on.  While the overall intent of using a Coming Soon To Realtor.ca sign on a property may seem legitimate the big question is, does doing so best represent a seller in exposing the property to as many potential buyers as possible thus helping to ensure they get the best sale price and terms possible?

  As REALTORS® we are governed by provincial law namely the Real estate and Business Brokers Act (REBBA 2002).  This act includes a variety of requirements pertaining to advertising none of which can be viewed as being false, misleading or deceptive.  Let me ask this question. If as a buyer you noticed a property with a For Sale sign that further said "Coming Soon To Realtor.ca," you had a potential interest in the property only to find out that it was sold and never got listed on MLS, how would you feel?  Falsely excited? Mislead? Deceived? I certainly would.

 As a licensed real estate Broker, this is not a practice that I have or would use.  First, installing a For Sale sign of any type on a property must include written consent from the seller(s).  This consent must have an effective date as well as written direction from the seller(s) as to how and when showings of the property are to be managed as well as the date on which offers will be accepted.  Too often these details are overlooked.  Too often the listing REALTOR® may just be trying to find a buyer on their own.  Again, is this in the best interest of the seller(s)?  The answer is probably no!

 The Canadian Real Estate Association (CREA) owns and manages www.realtor.ca.  The only "Coming Soon" sign allowed and or endorsed by CREA is "Coming Soon To Realtor.ca."  "Coming to MLS" is not allowed neither is just "Coming Soon" as is begs the question coming soon to what?  Some real estate boards and associations across Canada do not allow the use of such signs as part of the MLS rules and regulations, personally I think it's time to perhaps consider the same here in our market.  Seller's deserve and are entitled to the best possible service we as REALTORS® can deliver and the same applies to buyers. 

  Ultimately a property is either for sale or it's not.  Let's stop playing games and service our seller and buyer clients in the best way possible with knowledgeable, timely and forthright service that demonstrates the value that we as REALTORS® bring to the real estate transaction.  I would love to hear your opinion on this or feel free to Contact Me with any questions you may have.
        

  Back in 2008, the City of Toronto brought in their own "municipal land transfer tax" MLTT which was applied to purchases and paid by the buyers of real estate within the city.  For years, buyers of real estate in Ontario have paid a provincial land transfer tax based on a scale that increased as the total purchase price went higher. 

  I have been a full time REALTOR for 16+ years and the provincial land transfer tax rate has always been the same.  On the first $55,000 of the purchase price, the buyer pays a tax rate of .5%.  From $55,000 to $250,000 the tax rate increases to 1% and for any amount over $250,000 up to $400,000 the land transfer tax payable is $1.5%.  Above $400,000 and up to $2 million the rate increases to 2.0% and for any amount over $2 million the land transfer tax increases yet again to 2.5%. 

Example: It a home outside of Toronto sells for $500,000, the total provincial land transfer tax payable is as follows:

- On the first $55,000 @ .5%  (1/2%)             $275.00

- From $55,000 to $250,000 @ 1.0%          $1,950.00

- From $25,000 to $400,000 @ 1.5%          $2,250.00 

- From $400,000 to $500,000 @ 2.0%        $2,000.00

TOTAL LAND TRANSFER TAX                  $6,475.00 


 The total land transfer tax payable on that same property if located in Toronto would be the provincial tax of $6,475.00 plus the Toronto land transfer tax of another $6,475.00 for a total payable of $12,950.00.

  Municipalities across the province in general have not been prudent managers when it comes to managing expenses forcing them to look elsewhere for sources of revenue and implementing a municipal land transfer tax in Toronto was a good example.  Based on Toronto's success, many other municipalities jumped on the same tax grab bandwagon hoping to increase their revenues while jeopardising the dream of home ownership for many.  Thankfully the province stepped in and with some added pressure from the Ontario Real Estate Association (OREA) the opportunities for municipally implemented additional land transfer taxes was thwarted.

  Is it now safe to go back in the water?  No so according to an email I received today from OREA.  Apparently municipal Councillors in York Region north of Toronto have demanded that the province give the them the required municipal power to implement their own MLTT. 

  Here we go again, municipal spending continues to drain a region's economic well-being and the answer is?  Let's pass on another tax to the public.  The same politicians that advocate increased property and additional land transfer tax implementation are the same ones that lament about the lack of affordable housing.  They just don't get it.

  This is not only a provincial election year but a municipal one as well.  We had all better get out and make sure our voices are heard.  I know that I will.