Canadians in the housing market will pay less in realty commissions and fees if the federal Competition Bureau has its way.

It was reported across Canada that the MLS system needs to be opened up to give consumers more options.

As a realtor, I know that my services are valuable to consumers.  There have always been options where you can do it yourself.

Let’s look at why you would use a Realtor:

Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions today usually exceed $200,000. If you had a $200,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $200,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without the professional assistance of a Realtor.

But if you’re still not convinced of the value of a Realtor, here are a dozen more reasons to use one:

1. Your Realtor can help you determine your buying power — that is, your financial reserves plus your borrowing capacity. If you give a Realtor some basic information about your available savings, income and current debt, he or she can refer you to lenders best qualified to help you. Most lenders — banks and mortgage companies — offer limited choices.

2. Your Realtor has many resources to assist you in your home search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties.  Sometimes, a realtor knows about properties that are coning available or would be available, for the right buyer.

3. Your Realtor can assist you in the selection process by providing objective information about each property. Agents who are Realtor have access to a variety of informational resources. Realtor can provide local community information on utilities, zoning. schools, etc. There are two things you’ll want to know. First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?

4. Your Realtor can help you negotiate. There are myriad negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.

5. Your Realtor provides due diligence during the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your Realtor can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a preliminary report on the title of the property. Title indicates ownership of property and can be mired in confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Your Realtor, title company or attorney can help you resolve issues that might cause problems at a later date.

6. Your Realtor can help you in understanding different financing options and in identifying qualified lenders.

7. Your Realtor can guide you through the closing process and make sure everything flows together smoothly.

8. When selling your home, your Realtor can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.

9. Your Realtor markets your property to other real estate agents and the public. Often, your Realtor can recommend repairs or cosmetic work that will significantly enhance the salability of your property. Your Realtor markets your property to other real estate agents and the public. In many markets across the country, over 50% of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. Your Realtor acts as the marketing coordinator, disbursing information about your property to other real estate agents through a Multiple Listing Service or other cooperative marketing networks, open houses for agents, etc. The Realtor Code of Ethics requires Realtor to utilize these cooperative relationships when they benefit their clients.

10. Your Realtor will know when, where and how to advertise your property. There is a misconception that advertising sells real estate.  Studies show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts. When a property is marketed with the help of your Realtor, you do not have to allow strangers into your home. Realtor will generally pre-screen and accompany qualified prospects through your property.

11. Your Realtor can help you objectively evaluate every buyer’s proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing — a lot of possible pitfalls. Your Realtor can help you write a legally binding, win-win agreement that will be more likely to make it through the process.

12. Your Realtor can help close the sale of your home. Between the initial sales agreement and closing, questions may arise. For example, unexpected repairs are required to obtain financing or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. Your Realtor is the best person to objectively help you resolve these issues and move the transaction to closing.

http://www.realtor.com/basics/allabout/realtors/why.asp

The MLS is just one tool that I use to sell you home.  Let me show you the value I bring to the table and you can decide.rr

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OTTAWA, November 2, 2009 —

“We expect housing markets across Canada to strengthen leading into and over the course of 2010 as economic conditions improve”, said Bob Dugan, Chief Economist for CMHC.

“Demand for existing homes has rebounded since the beginning of the year. In addition, lower inventory levels characterize both the new and existing home markets. As a result, stronger housing demand will be reflected in higher levels of housing starts in 2010”, said Mr. Dugan.

The strong pace of MLS^{® 1} sales seen in the second and third quarters of this year reflects, in part, activity that was delayed in the previous two quarters and is not likely to be sustained. The level of sales is expected to move back closer in line with anticipated economic conditions. As a result, existing home sales, as measured by the Multiple Listing Service (MLS^®), will reach 441,300 units in 2009 and increase to 445,150 units in 2010. The average MLS^® price is expected to be $312,950 in 2009 and $324,500 in 2010.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

* The forecasts included in the Housing Market Outlook are based on information available as of October 1, 2009. Where applicable, forecast ranges are also presented in order to reflect economic uncertainty.

¹ The term MLS^® stands for Multiple Listing Service and is a registered trademark of the Canadian Real Estate Association (CREA). Data are for 10 provinces.

Information on this release:

Charles Sauriol
CMHC
Media Relations
613-748-2799
csauriol@cmhc-schl.gc.ca

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 I think I need a mobile home…

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Located south of the 401, this community has quite defined boundaries.  There are only 2 ways into this community:  Granite Court, through an business section of Pickering or Rougemount Drive, off Kingston Road.

Isolated from North Pickering by the 401, we are also isolated from other areas by the Rouge River Valley to the west, Lake Ontario to the south and the GO Train tracks and Petticoat Creek Conservation Area to the east.  Therein lies some of the appeal of this neighbourhood.

I can walk to the waterfront trail along Petticoat Creek or over the bridge to the Rouge River beach.  The trees are putting on a vibrant display right now as we look down the valley.

In the summer, we can spend time throwing stones into the lake or wonder up to the cement pond swimming pool at Petticoat Creek.  Or walk up to our neighbourhood plaza for fresh organic produce from Tiano’s, delicious meal planning from Bruno’s and, don’t forget the Tornados, an ice cream treat, from Quickerts (they recently changed their name from Reid’s Dairy).

All of this community fun is at most a 15 minute walk away.

And Toronto is a 15 minute drive away.  I am two minutes from the highway and 15 minutes from the DVP.

There is a public school that services this community, Rosebank Road Public school and Blaisdale Montessori’s main campus is on Toynevale, down the street from it.  The students can walk to Dunbarton High School or step on the city bus to St. Mary Catholic Secondary School.

The price range for homes in this area start in the mid to high $300,000 and end upwards of $1,000,000 for river or lake front property.

Convenience and community.  The Rosebank Road South community is a great place to call home.

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Looking to take advantage of great home affordability?  Here are some steps that will help you make your move:

1.      Decide how much home you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.

2.      Develop a wish list of what you’d like your home to have. Then prioritize the features on your list.

3.      Select three or four neighborhoods you’d like to live in. Consider items such as schools, recreational facilities, area expansion plans, and safety.

4.      Determine if you have enough saved to cover your down payment and closing costs. Closing costs, including taxes, attorney’s fee, and transfer fees average between 2 percent and 7 percent of the home price.

5.      Get your credit in order. Obtain a copy of your credit report.

6.      Determine how large a mortgage you can qualify for. Also explore different loans options and decide what’s best for you.

7.      Organize all the documentation a lender will need to pre-approve you for a loan.

8.      Do research to determine if you qualify for any special mortgage or down payment-assistance programs.

9.      Calculate the costs of homeownership, including property taxes, insurance, maintenance, and association fees, if applicable.

10.  Call me.

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 I was not too surprised by what was written.  We had received the statistics earlier.  I was taken back by one thing I read that I hadn’t paid too much attention too.

In North Pickering, which covers the area North of Taunton in Ajax-Pickering, including Claremont, but not Unxbridge.  The average price of the sales in September 2008 was $327,125.  The average price for September 2009 was $770,500–-more than double.

As a realtor, my first thought is sell if you live in North Pickering, but a closer look at the statistics shows that there might not have been a price increase at all.

In September 2008, there were 4 sales.  The lowest sale was a 2 bedroom, one bath home for $221,450.  The highest sale was $469,500 for a 4 bedroom, 2 bath home.

In September 2009, there were 7 sales.  Two sales were vacant land for around $300,000.  There were 4 sales of homes over $700,000, the highest being $980,000 for a 4 + 2 bedroom, 4 bath home. 

There were no homes sold in either month that you could compare to each other to say that the prices have risen that much.  Only when you look at comparable homes can you more accurately talk about price increases.

There are many wonderful reasons to live in North Pickering, sky rocketing prices is not one of them.

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