Most Ontarians confused about HST and resale homes

Kitchener-Waterloo Real Estate Information – Andrew Fielding Sales Representative

56% mistakenly believe HST applies to purchase price

 An Ipsos Reid survey commissioned by the Ontario Real Estate Association (OREA) and released today reveals that 56 per cent of Ontarians mistakenly believe that the new Harmonized Sales Tax (HST) applies to the full purchase price of a resale home. In fact the HST is only levied on the various transaction fees associated with the purchase of a home that has been previously occupied (i.e. not a newly-built home).

Do you really understand your financial situation when it comes to buying a home?

Kitchener-Waterloo Real Estate – Andrew Fielding

I was reading a publication that came across my desk today and an article caught my attention. One of the most important parts of all realtor’s jobs is ensuring that our clients are as educated as possible about every aspect of the transaction.

Top tips to de-clutter your home.

Kitchener-Waterloo Real Estate

Having your house clean and ready for selling is one thing, but getting it de-cluttered is another. When somebody comes in to see your home, they’re trying to invision their “stuff” in the home.

I came across an article today that I think sums up the idea really well.

10 Things you should know about property taxes

Kitchener-Waterloo Real Estate – Andrew Fielding Sales Representative Prudential Grand Valley Realty

I was reading an article about property tax today writen by John Spears in the Toronto Star, and thought it might be good to share.

For homeowners property tax is one of the most painful and visible taxes going. Instead of having the tax skimmed off their pay cheques at source, they generally have to cough up hefty installments either monthly or four to six times a year. Alternatively, they can see their mortgage payments swollen even more, if their lender insists on making the tax payments.

Marketing your home

Andrew Fielding – Sales Representative Prudential Grand Valley Realty, Kitchener-Waterloo Real Estate

If you’re thinking of selling your home in the near future, you may think that all that’s required is a “for sale” sign strategically placed on your front lawn — but any real estate professional will tell you there’s much more to it than that.

While a sign on your lawn is of paramount importance to the sale of your home, a well-thought-out marketing plan is also essential. Your REALTOR^®, of course, is another vital component in the process, and one of the first things he/she will discuss with you is a marketing strategy designed to give your home maximum exposure.

Closing the deal

I had the chance to work with a first time buyer the other day and it got me thinking… How many people actually know what’s involved in closing “the deal?”

Here is a little information that may help shed some light on the situation…

Location Location Location

Kitchener- Waterloo Real Estate…

I was talking to a friend of mine the other day about location and how it effects where people buy and how much they’re willing to pay.

Here’s an outline of our conversation…

Location Has a Price Tag
Two thirds of future first time home owners* would consider paying more than the asking price for a home based on its location- Bank Of Montreal (BMO) survey

A recent BMO Bank of Montreal survey revealed that among current and future first-time home owners, location is the main reason they would consider offering more than the asking price for a home. The survey also highlighted notable differences of opinion between men and women when it comes to home buying.

The survey found that:
• 70 per cent of current home owners would consider offering more for a home based on its location
• 63 per cent of future first-time home owners would consider offering more for a home based on its location.
• Future first-time home owners who are men are more likely (70 per cent) than their female counterparts (57 per cent) to consider offering more for a home based on its location.

“Especially in today’s heated market, it’s easy to get caught up in the emotions of a home purchase,” said Jane Yuen, Senior Manager of Mortgages, BMO Bank of Montreal. “It’s hard to walk away from a home you believe is ‘the one’ but homebuyers need to avoid getting caught in a bidding war that pushes their mortgage payments outside their comfort zone. In short, you need to know your limit and stay within it.”

If you have any questions about the market in Kitchener-Waterloo, please call me! 519-745-7000 or drop me an email andrew@fielding.com

Should I get a home inspection?

Kitchener-Waterloo

A home inspection prior to purchasing a home or condominium can bring peace of mind when you sign the sales contract. Knowing what to expect both inside and out will help you make an informed decision about the value of the home and the future upkeep.

A home inspection accomplishes two important goals. First, it gives you a chance to determine the condition of the house, its structural soundness, and the condition of its mechanical systems. Second, it brings any problems to the seller’s attention at a time when they can be resolved before closing a sale.

I recently received some exciting news!!!

Kitchener-Waterloo Real Estate News.

I recently received some exciting news that I couldn’t keep to myself. So many people I talk to still ask whether or not the tough economic times are still affecting the real estate market. Is now a safe time to sell? Will you get a good price for your property? Can you expect interest in my home from the community?

The short answer… absolutely YES!

Economists predict higher interest rates in fall

Kitchener-Waterloo.

I read this article in a recent real estate publication and thought it was important to share.

According to many of Canada’s top economists, higher interest rates – and debt servicing costs – may be just around the corner. Exactly when rates will rise is unclear and depends on who you talk to.

In its latest Financial System Review, The Bank of Canada judges that vulnerability of Canadian households to adverse wealth and income shocks has grown in recent years. “At present, Canadian household finances appear quite healthy,” Governor Mark Carney says, but it is the responsibility of households now to ensure that in the future, when the recovery takes hold and extraordinary measures are unwound, they can still service their debts.”