Barrie Home Inspector

Home Maintenance and Tips for Home Owners

Tag: buying

New Home Inspections

Home Inspection

New home inspections for Barrie ON. New home buyers in Ontario are protected under the Ontario New Home Warranties Plan Act. This offers protection against defects in material and workmanship, delayed closings, unauthorized substitutions and deposit protection up to a total of 300,000 dollars. Many of Tarion’s material warranties do not compare well with any premier manufactures warranties.

In Canada hardly anyone buys a home without having a Home Inspection performed by a trained professional. This is to protect the buyer from buying a home with defects or problems that he or she would probably not have found themselves. CHMC says, “One of the best ways to see if a home is in good condition, livable and safe is to hire a professional home inspector. A properly trained home inspector will review your house as a system, looking at how one component of the house might affect how another component works or how long it will last.” It is strange that an organization which receives its money from the home buyer, as the fee is added onto the cost of the home, does not recommend a Pre-Delivery Inspection by a Qualified Home Inspector. One would think that maybe they did not have the best interests of the “Home Buyer” at heart?

Tarion currently operates independently of the government and any regulatory agencies. Although all the funding for Tarion ultimately is paid for by the Home Buyer, there is no protection for the Home Buyer other than the Tarion Ombudsman, which works at Tarion and is paid by Tarion. There have been Private Members bills submitted to the Ontario Government to have Tarion held accountable to the Ontario Ombudsman but there has been no progress against the powerful home builders lobby at this time.

The situation in Ontario concerning Tarion’s lack of accountability has spawned groups like the “Canadians for Properly Built Homes” (CPBH) which is fighting on behalf of new home buyers for some accountability for The Tarion New Home Warranty Corporation. In 2008 they issued a Press Release: “Canadians for Properly Built Homes (CPBH) is very pleased with the Ombudsman Ontario’s report “Building Clarity”: Investigation into how the Ministry of Government and Consumer Services represents its relationship with the Tarion Warranty Corporation to the public:, and supports its recommendations. With Ombudsman’s findings, the Government of Ontario and Tarion can no longer continue to deny the very serious issues with Ontario’s new home warranty system. It is clear that the current system of home warranty in Ontario has not adequately protected may Ontario purchasers of newly built homes. This have been devastating for many Ontario families.”

When buying a new home you are also incurring the cost of the building permit which is issued by your local building department prior to construction starting on your new home. As part of the building permit your home has specified inspections that are required for each stage of building. Many times deficiencies are either overlooked or the inspection is not made which allows the builder to provide a substandard product without proper supervision. Some of the items typically found by home inspectors on new home construction include: missing attic insulation, loose heat registers, drains to weeping tile left open, improper slope on furnace and hot water tank vents, damaged floor trusses, improperly nailed joist hangers, wrong nails used in joist hangers and improperly installed shingles.

Your Home Inspector and lawyer are the only persons involved in your new home purchase that work entirely for you. Everyone else that is ultimately being paid by you has a vested interest that is not with the buyers. When you attend your pre delivery inspection the home is still in possession of the builder, and is often not even finished, and this is the best opportunity for you to have deficiencies addressed and corrected. Do not listen to builders who ask that you put items on your 30 day inspection. This will only lead to disputes about who caused damage etc and can lead to endless paperwork and issues with the builder and Tarion. If you fail to produce on piece of documentation or fail to also send that documentation to both Tarion or the Builder, Tarion will disallow your claim, Bingo, you lose. Investing $300.00 for a Professional Home Inspector to accompany you on your Pre Delivery Inspection will be the best investment you make in your new home purchase.

Learn about What is a Home Inspection, then visit The Barrie Home Inspector’s site on Home Inspection Articles for all your projects.

Real Estate Market in Innisfil

Real Estate

Real Estate Market in Innisfil.  Today’s market for buying and selling homes if very competitive and you will want to ensure you have picked the best possible real estate agent to represent you. Here are some tips we have gleaned from some professionals.

Does your professional Realtor provide a staging service for his or her listings, many do in this competitive market. What information did your agent bring to your home prior to listing? How many agents are in his office, how many listings does he currently have? There are many people who are doing “on the job training” make your agent isn’t one of them.

How is your Realtor intending to market your home. What type of ads and how many open houses will they be having. It is always better to have an understanding on how the process will take place prior to listing, then there is no confusion.

When listing your home ensure you are using the current market conditions and not a two year old appraisal that does not reflect the current market prices. Mortgages rates are low and vacancy rates are declining which is good news for investors and sellers of properties.

Many people try and save money by utilizing the same Realtor and will even use a Home Inspector recommended by the Realtor. This saving can have dire consequences when you don’t have someone whose only duty is too look after your interests. Pay for the services of a professional and they will ensure your interests come first and foremost.

When buying a “used” home or property it is very important to ensure all work was done by qualified trades persons and all permits were taken out. Patio’s and decks are often erected illegally without using the proper building techniques or materials. You could end up paying to remove structure and erecting a new one if your local building authority inspects your property.

Your Local Angus Real Estate Agents

Real Estate

Your Local Angus Real Estate Agents.   People who own property are typically 26% wealthier than non-home owners.  When house values increase the home owner benefits even though they may only have a small equity position in the home.  Just imagine if you owned a $150,000 house with 5% down ($7500) and house values increased by just 3%. In one year you would have had an increase in equity of over $5,000

Many people who have been turned down by traditional mortgage lenders are turning to the Rent to Own method of home buying.  For many, the rent-to-own home may be the best option. Also called a lease-to-own house, the process works similarly to a car lease : Renters pay a certain amount each month to live in the house, and at the end of a set period — generally within three years — they have the option to buy the house. Each month of rent they pay is income for the seller, while a portion of it goes toward a down payment to eventually buy the home.

In many Rent to Own agreements the renters also have to pay an option fee and then a rent premium. The option fee is a set amount that the renter pays the seller. If, at the end of the lease period, the renter buys the house, the option fee becomes part of the down payment. If the renter doesn’t buy the house, the option fee becomes income for the seller. Rent premiums are an amount slightly above the typical rent, with a portion of that money going toward a down payment.

The finances of the Rent to Own property are usually based this example situation.  The average house is worth $300,000, and typical rent would be $1,500 a month. Someone who’s renting to own might pay $1,700 a month in rent and then receive a $200 rent credit each month. Add the option fee, in this case $5,000. On a three-year lease, the renter would earn $7,200 in rent credits. Adding the earned rental credits to the option fee, the renter has accumulated $12,200 for a down payment.

Rent to Own properties will require a deposit, the same as if you were buying your own home.  Most companies will require a minimum of $15,000 as a deposit.  The monthly payment for a rent-to-own agreement will depend on your budget.  The larger your payments, and the longer you make them for, the larger the accumulated downpayment will be when you exercise your purchase option and get a mortgage in your own name.

At the end of your rent-to-own agreement, the sum of your initial deposit and your monthly payments will count as a downpayment for your own mortgage.  To know exactly how much of a downpayment you will

Angus Real Real Estate Agent

need to consult with a mortgage broker to discuss getting the best possible rate.
Your local Angus Real Estate agent can help you find a property that will fit your budget.  Choosing a Professional agent with local knowledge and experience will greatly enhance your real estate shopping experience.  Choose from our Best Angus Real Estate Agents to ensure your receive the best possible advice when making your next property investment.

Buying or Selling a Home in Innisfil

Real Estate

Buying or Selling a Home in Innisfil. There are a lot of emotions involved when buying or selling a home, but negotiating the price shouldn’t be.  Having a plan prior to negotiating is key to preventing stress during the turbulence involved in high-stakes negotiations.  Your Innisfil Real Estate Agent can guide you and advise you but eventually you must make the final decision.

First time home buyers get a lot of tips from friends, family and co-workers, much of which is probably good advice gleaned from their own home buying experiences.  Your Professional Innisfil Realtor has bought and sold hundreds of homes and is more prepared to advise you on many obstacles that may arise and often do.  The more you know, the better equipped you are to negotiate.

Plan your attack.  Determine what features you want and what they are worth to you. Know in advance the most you’re willing to pay, and with your agent work back from that number to determine your initial offer, which can set the tone for the entire negotiation. A too-low bid may offend sellers emotionally invested in the sales price; a too-high bid may lead you to spend more than necessary to close the sale.

When selling your home you want to present the best possible view of  your home.  Most Professional Innisfil Real Estate agents will help you in this area using their years of experience to guide you.  From making minor repairs to plumbing, electrical, caulking, sidewalks and painting, what your prospective buyer first sees when initially walking through your home is what is most likely the deciding factor in whether to entertain an offer.  Some Realtors will suggest you have your home Professionally staged to improve your homes presentation.

Most upscale homes now use professional staging companies to fully stage the property.  These professional companies supply furniture and accessories to enable prospective clients to see the home in the best light possible and so they can envision themselves living there.  Some Home Staging companies advertise that many of their homes will actually sell for more than the listing price.

People who earn a good salary but fail to qualify for a typical mortgage are frequently turning to the Rent to Own option, Rent to Own has become very popular in the Innisfil Real Estate market. A rent to own transaction is when a landlord agrees to lease a home to a tenant and the tenant has an option to buy the home for a pre-negotiated price before the end of the lease. The primary components of a rent to own transaction are the rental term, the purchase price, the upfront deposit, and the monthly rent credit.

When deciding to start looking for a new home, the first step you should take is getting yourself pre-approved by your financial institution of choice. When seeking preapproval, talk to a few different mortgage lenders to find the best mortgage package that suits your needs. Two or three lenders is usually enough to give you a reasonable idea of the amount of money to can afford to spend on a new home.

Your local Innisfil Real Estate Agent can share his knowledge and expertise to allow you to get more money from the sale or to save you money when buying your next property.  Utilize their tools and expertise and help ensure your next real estate transaction is a pleasurable experience with the knowledge that you got the best price possible whether buying or selling.

Innisfil Real Estate Agents – Terms and Info

Personal Interest, Real Estate

Innisfil Real Estate Agents – Terms and Info.  The common definition for a real estate broker, real estate agent or realtor is a party who acts as a go between for sellers and buyers of real  property and attempts to find clients who wish to sell and buyers who wish to buy. In the Canada and the United States, the relationship was originally established by reference to the English common law of agency, with the broker having a fiduciary relationship with his clients.

Many of the newer Real Estate agents are linking up with agents in other provinces or even other countries to obtain referrals to new clients. The internet has allowed potential clients to contact agents in their prospective purchase area without leaving the house. Globalization has had an immediate and powerful impact on real estate markets, making them an international working place. The rapid growth of the Internet has made the international market accessible to millions of consumers. A look at recent changes in homeownership rates illustrates this. Minority homeownership jumped by 4.4 million during the 1990s, reaching 12.5 million in 2000, according to the Fannie Mae Foundation. Foreign direct investment in U.S. real estate has increased sharply from $38 billion in 1997 more than $50 billion in 2002 according to U.S. 2000 Census data.

Flat Fee MLS generally refers to the practice in the real estate industry of a seller entering into an ” la carte service agreement” with a real estate broker who accepts a flat fee rather than a percentage of the sale price for the listing side of the transaction. The buyer’s broker is still typically offered a percentage though that could be a flat fee as well. A Flat Fee MLS brokerage typically unbundles the services a traditional real estate brokerage offers and lists the property for sale in the local Multiple Listing Service (MLS)  la carte without requiring the seller to use its services for valuation assistance, negotiating, transaction management and showing accompaniment.

 

The listing Real Estate agent or broker  anticipates receiving a commission for the services the agent has provided at the conclusion of selling the listed property. Usually, the payment of a commission to the agent or brokerage is contingent upon finding a sucessful buyer for the real estate listed, the successful negotiation of a purchase contract between a satisfactory buyer and seller, or the settlement of the transaction and the exchange of money between buyer and seller.

When listing a property the seller agrees to a selling commission.  This commission used to be set around 6% of the purchase price, which was typically paid by the seller of the property.  There are newer Real Estate companies that are advertising discount commission fees for selling properties.  These are typically not full service companies but usually will offer full service for an added fee.

Controversy exists around how commissions paid to real estate agents are disclosed to buyers and the effect additional seller incentives may have on the negotiation process and final purchase price. If a listing agent sells a property above the listed price, they make additional income. In theory, this motivates them to get top dollar for the seller. However, if an agent representing a buyer obtains a lower sales price for their client, then they make a lower commission. Thus, it could be considered to be in the agent’s best interest to advise his client to purchase the property at a higher price

In a flat fee MLS listing, the listing agreement between the real estate broker and the property owner typically requires the broker to enter the property into the MLS and provide other contracted services, with the broker acting as what the traditional industry has coined a “limited service broker”. However, the flat fee industry prefers the term  la carte broker because the services are not limited. Instead freedom of choice is expanded to allow sellers to pick from a menu of services. For example if a seller opts to purchase marketing in MLS, Realtor.com and other distribution channels only, that does not imply that the listing broker would not have negotiated or offered more services if the seller wanted to pay for those services. In fact many flat fee brokers offer upgraded packages that sellers often contract for. Consequently, the services is not limited but instead custom crafted to the needs and wants of the seller.

Title Insurance is now replacing searches in the Land Registry Office. Title insurance originated in the US. The Law Society of Upper Canada, the group that regulates and oversees lawyers in Ontario, spent a long time looking into the implications of title insurance on the law profession. At the end of the day, they decided the best thing to do was to get into the business themselves and are offering their own package called Title Plus. Some lawyers in Orillia believe that soon you won’t need a lawyer (or a surveyor) to close a real estate transaction. Are they worried? Not really, with insurance companies paying for litigation, the extra court cases will more than make up for the lost business. Many people too want a real survey so they can see exactly what they’re buying, so the survey business won’t die.  The real winner here is the consumer, which is why many observers expect title insurance to quickly become the norm, especially now that the Law Society is backing it.

When buying property in the Alliston Ontario area choose your agent from the www.innisfilrealestateagents.info site to get a professional agent who will provide you with personalized service and ensure your buying or selling experience is a pleasant experience with no surprises.

Real Estate in Orillia

Personal Interest, Real Estate

Real Estate in Orillia. In Canada and the US,  real estate broker, real estate agent or realtor is a party who acts as an intermediary between sellers and buyers of real estate and endeavors to find property sellers who wish to sell and buyers who wish to buy. In the Canada, the relationship was originally established by reference to the English common law of agency, with the broker having a fiduciary relationship with his clients.

The Real Estate market has broadened widely with the advent of new technology. Globalization has had an immediate and powerful impact on real estate markets, making them an international working place. The rapid growth of the Internet has made the international market accessible to millions of consumers. A look at recent changes in homeownership rates illustrates this. Minority homeownership jumped by 4.4 million during the 1990s, reaching 12.5 million in 2000, according to the Fannie Mae Foundation. Foreign direct investment in U.S. real estate has increased sharply from $38 billion in 1997 more than $50 billion in 2002 according to U.S. 2000 Census data.

In consideration of the brokerage successfully finding a satisfactory buyer for the property, a broker anticipates receiving a commission for the services the brokerage has provided. Usually, the payment of a commission to the brokerage is contingent upon finding a satisfactory buyer for the real estate for sale, the successful negotiation of a purchase contract between a satisfactory buyer and seller, or the settlement of the transaction and the exchange of money between buyer and seller.

The median real estate commission charged to the seller by the listing (seller’s) agent is 6% of the purchase price. Typically, this commission is split evenly between the seller’s and buyer’s agents, with the buyer’s agent generally receiving a commission of 3% of the purchase price of the home sold.
In North America commissions on real estate transactions are negotiable. Local real estate sales activity usually dictates the amount of commission agreed to. Real estate commission is typically paid by the seller at the closing of the transaction as detailed in the listing agreement.

Flat Fee MLS generally refers to the practice in the real estate industry of a seller entering into an ” la carte service agreement” with a real estate broker who accepts a flat fee rather than a percentage of the sale price for the listing side of the transaction. The buyer’s broker is still typically offered a percentage though that could be a flat fee as well. A Flat Fee MLS brokerage typically unbundles the services a traditional real estate brokerage offers and lists the property for sale in the local Multiple Listing Service (MLS)  la carte without requiring the seller to use its services for valuation assistance, negotiating, transaction management and showing accompaniment.

 

Title Insurance has become a product that has changed the way property is transferred in Canada.  Title is at the very heart of every real estate transaction. A purchaser needs proof that the property being bought is free and clear of liens, that the seller really owns it, and can sell it. To do this the buyer must “search title”. This can be a long, complicated process. Lawyers (or their assistants) sometimes spend hours at the registry office going through books and then checking with various authorities for liens etc. Often, they have to search back 40 years before they can give their “opinion of title”, which is still not a guarantee – just an opinion.

 

Home inspection in Canada requires the services of a qualified and experienced professional. When selecting a Canadian home inspector cost should not be the only determining factor. It is vital that you know as much about a property as possible before you make the commitment to purchase it, so be sure to choose a home inspector that can perform a reliable inspection service.  I would always recommend using the home inspector who places first in Google rankings for the area you are looking to purchase.  Being first in Google is a good indication that he is a professional and will be the “go to person” in that area.

 

When buying property in the Innisfil Ontario area choose your agent from the www.innisfilrealestateagents.info site to get a professional agent who will provide you with personalized service and ensure your buying or selling experience is a pleasant experience with no surprises.

Barrie WETT Inspection

Home Inspection, WETT Inspections

Barrie WETT Inspection. Most people love the idea of having a natural wood burning fireplace in their home, but they sometimes do not realize all of the responsibilities that come with it. Fireplaces do take a bit of care to ensure that they do not cause any problems. Just one little issue with a fireplace could result in your house catching fire, so having a regular WETT inspection by a trained professional is very important. WETT inspections are performed for a variety of reasons, including insurance company requests, code compliance, and inspection after and overheat or chimney fire.

Most Insurance Company’s require a WETT Inspection anytime a Wood Burning appliance is installed or when buying a new home. There are strict requirements that affect clearances that many older stoves and fireplaces will not meet.

There are several things inspectors will look at when they perform a WETT inspection. Unsafe Chimney & Flue Items such as the chimney, the liner, the smoke chamber, damper, firebox and other working parts inside the fireplace or woodstove to make sure that they are working properly. The inspector will also make sure clearances to combustible materials are sufficient so you can use your wood burning appliance safely.

Complete inspection of any wood burning appliance involves an evaluation of every part of the heating system, from the floor pad to the chimney cap. All of these parts are covered in the codes, so compliance can only be determined if every part is inspected.

The chimney is usually the most difficult part of the system to inspect properly. Flue liners are subject to cracking inside masonry chimneys, or buckling and corrosion in the case of metal chimneys. It is difficult to inspect a chimney liner unless it has just been cleaned.

Inspectors only become certified after at least 80 weeks of work in the field and require a WETT Certified Certificateletter of reference. WETT Certified Inspectors must take and pass a two day Code Compliant course with a passing grade of 70 percent. WETT Inspectors then have the choice of becoming a certified tech or advisor, earn their certification in chimney sweeping, or earn a WETT certification in SITE basic.

In many cases, insurance companies will require you to have your units WETT certified, although this is a bit of a technical problem because of how the process works. WETT inspectors do not certify appliances, although they do provide certified inspections for the insurance company to show that all parts of the fireplace are in good working order.

The Barrie WETT Inspector will include a WETT Inspection of one appliance for $50.00 when included as part of Home Inspection package.  We also provide Alliston WETT Inspection services to the Town of Alliston and New Tecumseth.   We have been WETT Certified for over 10 years and have a wealth of knowledge concerning Wood Stoves, Pellet Stoves and Fireplaces.

Resale housing forecast revised

Real Estate

Resale housing forecast revised.   OTTAWA – July 30, 2010 – The Canadian Real Estate Association (CREA) revised its forecast downward for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations, and elevated its average price forecast.

Weaker than anticipated sales activity during the crucial spring home buying season in Canada’s four most active provincial markets prompted the revision. The decline is consistent with the exhaustion of pent-up demand from deferred purchases during the economic recession, and sales having been pulled forward into early 2010 due to changes in mortgage regulations.

National sales activity is forecast to reach 459,600 units in 2010, representing an annual decline of 1.2 per cent. Additional expected interest rate increases will keep homebuyers in a cautious mood, with sales activity expected to continue easing over the second half of the year as a result. In 2011, weaker economic growth and consumer spending will contribute to a decline in national sales activity of 7.3 per cent, with annual sales totaling 426,100 units.

“The Bank of Canada recognizes that inflation remains well contained and that economic growth will soften, so interest rates will rise slowly and at a measured pace, which will keep home financing within reach for many homebuyers,” said Georges Pahud, CREA President.  “While the jump in national sales activity earlier this year likely borrowed from the future, local markets trends are not necessarily in sync with national trends, so buyers and sellers would do well to consult with their local REALTOR® to best understand the outlook in their market.”

Average price trends have remained stable as new listings began to shrink in the last two months of the second quarter. Supply is expected to continue to adjust to lower demand, keeping the resale housing market balanced on a national basis and in most provinces.

The national average home price is forecast to rise 3.5 per cent in 2010 to $331,600, with increases in all provinces.

“Slowing first-time home buying activity means lower- and mid-priced homes are making a smaller contribution to the average price calculation, causing the average price to be skewed upward as a result,” said Gregory Klump, CREA Chief Economist. “It also means pricing momentum will lose steam due to rising competition among current homeowners looking to trade up.”

Although modest average price gains are forecast in 2011 in most provinces, the national average price is forecast to ease by 0.9 per cent to $328,600.

“The hangover from accelerated home purchases earlier this year is expected to persist over the rest of the year, but positive economic and job market trends bode well for home price stability,” said Klump. “Sales activity and new supply are both expected to continue to ease, so inventories are unlikely to pile up the way they did during the recession.

“Transitory factors that resulted in big swings in housing supply and demand may now be largely in the rearview mirror, so while resale housing activity is expected to ease, the pace of declines should begin to slow,” he added. “Homebuyers will no doubt welcome a more relaxed housing market in places where there was a shortage of supply earlier in the year.“

http://www.crea.ca/public/news_stats/pdfs/media_july30rpt_en.pdf

CREA LAUNCHES NEW FALL ADVERTISING CAMPAIGN

Real Estate

CREA LAUNCHES NEW FALL ADVERTISING CAMPAIGN.  OTTAWA (August 23, 2010) – The Canadian Real Estate Association (CREA) debuts a new national television commercial today featuring production and editing techniques developed specifically for this project and never before used in Canadian television advertising.

Shot in HD, the new commercial is called “Faces”, and it highlights the value REALTORS® bring to one of life’s biggest financial decisions – home buying and selling.

“REALTORS® help meet the unique needs of people who are buying or selling their home,” says CREA President Georges Pahud. “Just as peoples’ requirements are diverse, so too is the knowledge, expertise and services of the REALTOR® working to meet them. Whatever your needs, a REALTOR® can help.”

In the 30 second ad, viewers see and hear testimonials from several individuals about their experience with their REALTOR®. Women and men representing people from all walks of life talk about their unique needs when buying and selling a home. While they talk, their faces continually change, eventually becoming another person with another positive story. The commercial was created for CREA by Toronto ad agency CP+B Canada and uses special effects to bring traditional portraiture to life. The end result is a memorable and visually arresting spot for the digital age.

The television commercial is part of CREA’s 2010 fall advertising campaign, which runs from August 23rd through the week of October 18th.

CREA’s national ad campaign program started in 2006 and runs twice a year, in the spring and fall. Last fall’s ad, entitled “Never-ending Negotiations”, won a bronze award at this year’s national Marketing Awards.

To view CREA’s latest television commercial, please visit howrealtorshelp.ca.

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