Free Real Estate Seminar – Presented by Friends of Queen West Bosley Real Estate Ltd. Brokerge
Queen West Bosley Real Estate is offering a FANTASTIC seminar for anyone interested in the following:
-First Time Home Buyer
-Condo Investor
-Residential Investment Property
Then check out the invitation below and RSVP through my blog, www.facebook.com/amywilliamsonqueenwestrealestate or amedal@bosleyrealestate.com and I will reserve you a ticket.
Tickets are limited, so please let me know ASAP if you would like to attend.
Cheers,
Amy
Home Inspectors…what to look for
A good read about Home Inspections by Cam Allen, Kingston Whig Standard Jan. 27, 2012
Every year about this time I get a growing number of e-mails from readers who are starting to think about buying another home this spring. The common theme of their e-mails is ” why is there no provincial government certification for home inspectors?” The answer is very simple……. it’s like the train tracks that do not have crossing arms; no one has been seriously harmed as yet. In the provinces of British Columbia, Alberta and from what I understand soon to be in Quebec, there is a licensing standard however the most populous province in Canada has nothing in place nor on the horizon to protect the home buying public.
The CMHC has some excellent information on buying a home and their most recent booklet says it all. “In most area of Canada there are no licensing or certification requirements for home inspectors. Anyone can say they are a home inspector without having taken any courses, passed tests or even inspected houses. So look for a home inspector who belongs to a provincial association that demonstrates training and experience, provides inspection reports, carries insurance, provides references and has strong experience with the type of home to be inspected” They go on to say that CMHC does not recommend any individual home inspector or association. CMHC does support national standards of competency for home inspectors” The truth behind that comment is that CMHC funded millions of dollars a few years ago to develop and initiate a National Certification Program that was promptly squashed by a number of individuals in provincial associations who saw their influence disappearing. They recognize that far too high a number of provincial home inspector associations are ”clubs” in which the standards they set are their own. Ontario has seven such associations operating in Ontario to my knowledge. The Canadian Association of Home Inspectors and the Ontario Association of Home Inspectors are one of the same, The Professional Home and Property Inspectors of Canada are basically an Ontario group with a few members out of province, Canadian National Association of Home Inspectors is another splinter group as is the Alliance of Canadian Home Inspectors who tout alliance to the Teamsters Union, the Canadian Federation of Home Inspectors and the most advertised is the web based International Association of Home Inspectors where anyone with a basic knowledge of a home and a credit card can become a certified home inspector overnight. Even Mike Holmes got in on the act a couple of years ago and started his own franchising of local home inspectors; they have their own set of standards and reporting system too. It is not that indifferent from most of the associations listed here. His home inspection charges are by far the most expensive in the industry and you are not getting Mike himself, rather a home inspector certified with one of the previously listed associations and some extra training they are providing….nothing more.
Where does this leave the home buyer? The CMHC booklet says it very plainly, “a home inspection is a visual inspection” ……period. You are buying the inspectors experience and his visual ability to assess the conditions found and offer his opinion, that is all. His report should tell you what he saw and remember he is not allowed to move furniture of any kind both inside and out, personal effects or storage of any kind. He/she should advise on safety issues, something not working or needs to be
changed and possible repairs. CMHC has a home inspection checklist on their web site. It is very basic; there are better check lists available. Go to www.homeinspectiondirect.com.They have a respectable home inspection check list on their site.
The home buyer is also subject to a vast array of marketing by home inspectors and ”favourites” of the real estate industry. Every association seems to have some short form of certification that is tacked to the end of the inspector’s name. One card I saw recently advertised that the inspector had eleven initials after his name; one of them was for a 3 day seminar course. This is where licensing would really help.
He is a few questions every home buyer should ask before hiring a home inspector:
Are you a licensed tradesman in a construction related trade? This means the inspector has upwards of 4000 hours of on the job training in construction. If you are not skilled in a home building trade, how can you inspect one?
Have you ever built a home yourself? The internet is filled with home inspectors who advertise they are/were home builders or contractors, yet if pinned down most have difficulty proving such a claim.
How long have you been in business? Ask if they are full time, this industry is filled with part time inspectors who are supplementing their income with a few home inspections a month.
Do you belong to an association? While the majority of these associations are suspect for training and certification at least this does give some credibility other than the internet based organizations.
Lastly ask your friends, neighbours, co-workers and family for references, good home inspectors survive on their reputation.
Medal-Mind…aka Master Mind
What an honour to be asked to run Mark McLean’s infamous Master Mind this week. 
Mark took the day to transform the Queen West office into a Christmas wonderland for our annual Bosley Holiday party and asked if I would run Master Mind.
And here is what we talked about today:
1/ When negotiating shifts from Selling Agent - Buyer Agent, to Buyer Agent - Buyer. One of our agents stumbled into a rather precarious position when a condo/loft he showed his buyer was not actually on the market (back storey here). The Seller wanted ‘X’ for the unit and the Buyer was only willing to pay ‘Y’ and was quick to ask the buying agent to reduce his co-operating commission to make the deal happen. Buyer then tried to do further negotiations with the Seller…eeeek! Our Bosley agent acted quick on his feet and shared his validation for the work he had done on getting the client to this situation. If it wasn’t for the buyer agent, perhaps this property would never have been found - he knew of this property coming on the market and made a point to sit with the Seller Agent and Seller to see if they could put something together. Agents do a lot of work, not just driving clients around, but finding the right properties for clients and negoitating contracts…our agent was correct in taking a moment to validate his work cost. Buyer ended up buying the property and was thrilled that he did not have to ‘compete’ against any other offers. To summarize…make sure that negotiations stay between the correct parties, that’s what the agents are for!
2/ How do you advertise an Exclusive Listing? One of our agents has an ‘Assignment Listing’, which in this case is a condominium unit that has not yet been registered to the unit owner but can be sold as an ‘Assignment’. These sales can be quite challenging to say the least, and advertising can be even more difficult. As you lack the means of the Multiple Listing System (MLS) and are faced with finding new and creative methods to get the word out. Some suggestions were to print up postcards of the listing and see if you can promote them at other broker offices. Try going back to the builder, specifically to one of their sales offices to leave a stack of postcards or ask agents in the office who have good web traffic to see if you can advertise on their personal websites.
3/ Right to Rent Out. In the event that you have a buyer looking into a new condo purchase, see if you can put something into the builder forms that allows the buyer the right to rent out their unit during an interim occupancy phase. Some condos take longer than others to register, so if your client doesn’t want to move in during the interim phase, then perhaps renting it out and gaining rental income will help keep the buyer’s overal costs down. It never hurts to ask the question, especially at the point of sale vs. the occupancy phase.
4/ Testing the Market and Incurring Expenses. How do you handle a Seller who wants to ‘test the market’ and take the property off the market if it doesn’t sell within a week? Some hot properties will sell quickly, especially if they are priced well, staged and in a great location. However, some houses take a little longer to sell and agents still incur the same expenses. Consider pre-list home inspections, photography, printed material, advertising and in some cases staging/decluttering/junk removal. I personally put in approx. $800-$1000 into each listing and certainly don’t expect my clients to pay that…however if right off the bat they tell me that they will take it off the market if it doesn’t sell on a scheduled offer date, then I have them sign off on a ’Bosley form’ stating the Seller will re-imburse my marketing costs – after a tactful explanation, clients will understand this and either absorb the costs or better yet, NOT terminate the listing after 7 days. To summarize, keep an open dialogue with your clients from the beginning of your working relationship to the end, start by setting realistic expectations from both parties and agree to your work schedule and associated costs.
Cheers!
Amy
How much is my treehouse worth?
No matter what type of abode you have chosen; 3 storey detached, 1 bedroom condo, row house or treehouse there 
is an approximate value for these homes in various neighbourhoods. Example, you can buy a 3 bedroom detached house that is totally renovated in Trinity Bellwoods for $1million or you can buy a similar house in Brockton Village for $600,000.
In this post I have taken 4 Toronto Neighbourhoods that I focus on, broke them down into three types of houses (detached, semi detached and row house) to give you an idea of value. Please note that the values are based on houses that are either “WOW” or those that “Need Work”…and I used 3 bed, 2 bath with 1 parking as my guidelines.
As you review these value ranges, please take consideration into factors that effect value of your house: parking (number of spots), garage vs. no garage, lot size, level of upgrades, location within a neighbhourhood (busy street vs. quiet street and boardering area), income potential (with a basement apartment)…all of these factors would effect which part of the range your house falls under. That is why it is important to use a knowledgable real estate agent when deciding to sell your house and to help establish the value of your house.
Roncesvalles or Roncey Village
WOW Detached House - $850k-$990k
NW (needs work) Detached House – $680k-$800k
WOW Semi Detached House – $700k-$800k
NW Semi Detached House – $540k-$650k
WOW Row/Townhouse – $650k-$720k
NW Row/Townhouse – $490k-$570k
Little Portugal
WOW Detached House – $600-$900k
NW Detached House – $560k-$680k
WOW Semi Detached House – $650k-$850k
NW Semi Detached House – $400k-$520k
WOW Row/Townhouse – $570k-$820k
NW Row/Townhouse – $420k-$520k
Dufferin Grove
WOW Detached House – $700k-$900k
NW Detached House – $500k-$680k
WOW Semi Detached House - $550k-$700k
NW Semi Detached House – $470k-$550k
WOW Row/Townhouse – $550k-$620k
NW Row/Townhouse – $350k-$510k
Dovercourt-Wallace Emerson-Junction
WOW Detached House – $580k-$710k
NW Detached House – $460k-$550k
WOW Semi Detached House – $500-$730k
NW Semi Detached House – $420k-$550k
WOW Row/Townhouse – $500k-$540k
NW Row/Townhouse – $350k-$400k
Thinking about buying or selling? Do these numbers peak your interest? Call me today to set up a time to discuss your real estate needs.
Cheers,
Amy
Buying for less than $500k IS possible!
A recent report by the Toronto Real Estate Board stated that prices were escalating to close to $500,000 in the GTA. Check out this report for the full story http://torontorealestateboard.com/market_news/release_market_updates/news2011/nr_mid_month_1011.htm
However, I have seen more houses in the $349,000-$499,000 price point in one of the hottest growing neighbourhoods of East York.
A commute from Woodbine/Danforth area to the city centre will take you approximately the same time as it would if you were living in The Beach, High Park or North Toronto. Buyers should take note of growing areas of the city and get in before the neighbourhoods BOOM and prices start to escalate.
My listing at 192 Barker Avenue is at the lowest side of the scale at $349,000 and offers parking, backyard, finished basement and room to grow.
http://www.realtor.ca/propertyDetails.aspx?propertyId=11228203&PidKey=1356992908
With condo fees affecting your mortgage approval, it is important to see what is out there on the market and to make smart decisions. Your first house will likely not be your last house…so buy now with interest rates low and hold onto your investment and watch it grow. Over time you will be able to take the return from your first purchase and re-invest it into your second house and so on.
You don’t just buy one stock and hope it increases, you generally re-invest when the timing is right. Real Estate is the same thing. Get in when you can, and I tell buyers to ”buy yesterday” when they ask “When do I buy?”
Don’t be discouraged by escalating prices, as these figures are based on wide based statistics of varying neighbourhoods. Buy into a gentrying neighbourhood at a lower price, make the necessary improvements to continuously add value to your investment and sell when you are ready to make the next investment.
IF you have more questions about buying real estate in Toronto or specifically seeing my house on Barker Avenue, give me a call today!
Cheers,
Amy
Trendy King East – SOLD IN 2 DAYS!
Sorry this unit has SOLD…looking for something similar? Contact me to start your condo search!
A sought after building in a high demand area of King Street East!
Make this address your HOME – SOLD
Sorry this unit has SOLD. Interested in a unit like this? Contact me to start your condo search!
Welcome to 45 Carlton Street, The Lexington – Check out the virtual tour! www.45carltontoronto.com
http://www.youtube.com/watch?v=ZTZ_E0ym0EU
Extensive amenities also include a running track, whirlpool, rooftop deck, hobby room, billiards, library, BBQ deck, security & visitor parking. Plus a recently updated gym!
This gorgeous split bedroom plan also offers two ensuite storage closets and parking.
Interested in more informtion or would like to book a showing? Please contact me at 416 530 1100 or awilliamson@bosleyrealestate.com
Bosley Real Estate Ltd., Brokerage
SOLD in 7 days! Brockton Village Modern Townhome
Welcome to the hot and trendy Brockton Village. This Victorian inspired townhome has everything you need in a modern home.
Sorry this home has now SOLD!
http://www.131florencestreet.com/
Three stories of open concept living, boasting 9 & 10 foot ceilings and dark hardwood floors, give this home a warm and inviting feeling. With a family room on the main level, you can choose to set up a home theatre or an inviting office space. This floor also has a 3 piece washroom, laundry room, lots of closet storage and direct access to the over sized built-in garage.
The second floor of this contemporary home is currently used as a living space/family room with two large north facing windows, crown moulding, freshly painted and a powder room. The large eat-in kitchen is what draws in your guests; bright, open, upgraded with fabulous stainless steel appliances, tumbled marble and more than enough storage for all your fancy cookware and mixers. The kitchen opens up to a private 200 sqft terrace outfitted with a functional and funky pergola and natural gas line bbq to create an entertainers dream!
The hardwood staircase with wrought iron spindles lead you to the top floor of the townhome where natural light cascades through the hall and 3rd bedroom through two skylights. The master bedroom wall was moved to increase the size of the room and to create direct access to the 3rd bedroom (currently used as a walk in closet). The 2nd bedroom has a charming bay window and an oversized storage closet.
This Victorian townhome has all the appeal of its original predecessor and all the features of a modern family home…just move in and enjoy!
SOLD in 2 days! A sweet and lofty lifestyle…
What was once Pattersons Chocolate Company is now home to one of Toronto’s most desirable addresses…
Welcome to The Historic Chocolate Co. Lofts!
Step inside this true hard loft, showcasing original brick walls, wood beams and ceiling. Wrap around windows and juliette balconies frame this serene south west tree top view. Full day sunlight cascading over 1033 sqft of inspired living space set in the historical portion of the conversion.
Master bedroom is nestled at the back of the loft, creating a quiet sanctuary and is larger than most with his/hers walk in closets, 4 piece ensuite bathroom and continuous exposed brick along west wall.
Upgraded kitchen Features: 8ft maple hard wood cabinets balancing out the marvellous 10ft ceiling height, custom island with clever storage and breakfast bar.
Original owner with an eye for detail handpicked this spacious loft boasting the best features and split bedroom plan – 2nd bedroom currently being used as an open concept den. This loft features both an ensuite and exclusive locker as well as an owned parking space. Owner has thoughtfully integrated the wiring system to expose full brick wall potential.
Want to book a showing?…contact me at awilliamson@bosleyrealestate.com or send me a Facebook message
PUBLIC OPEN HOUSE THURS. MAY 5, 5-7PM
PUBLIC OPEN HOUSE SAT. MAY 7 & SUN. MAY 8, 1-4PM
Too Much Candy!
On Monday October 31 we celebrated Halloween…and at my house in Brockton Village we had a total of 6 kids come to the door, 6!? I was shocked and surprised as previous years we would see quite a few more ghosts and goblins so I prepared myself with over 200 pieces of sugary treats. We even decked ourselves out in homemade Yip Yip Martian costumes from Sesame Street to entertain our annual trick o’ treaters!
So what am I left with? You guessed it, a bowl full of Smarties, Coffee Crisp, Aero and Kit Kats and I mean a BIG BOWL! I would love to tape up the box and store it away until Halloween 2012 but I really don’t think I should pass out year old candy to next years rug rats. So what do I do with all this left over Halloween candy?
Initially I thought about taking it to a neighbouring school or community centre, but then I thought to myself are schools really going to take candy from a stranger? Do teachers really need more sugar filled kids running around in circles when they should be doing long division?
So I am wondering if anyone has any suggestions as to what I can do with this candy…because I know that no amount of duct tape will keep me from ripping into this sugary box of goodness when I need a quick fix.
Freeze it, bury it, what to do?!
Cheers,
Amy