Buying and Selling in Orillia

INFO FOR YOUR EXECUTOS

darleneelder — Tue, 01 Nov 2011 17:29:45 +0000

If something happens to us–someone else is going to have to figure out our filing system. If you want your affairs handled a certain way, you have to communicate what that is. Hacker, Gignac and Rice Law Firm has set up a nice form that helps you to do just that. Info for Executors and Others

THE RESTORE IS HERE!

darleneelder — Wed, 28 Sep 2011 19:27:17 +0000

Finally, Orillia will have it’s own restore. Unfortunately suitable commrcial property could not be found in Orillia so the store is actually north on Hwy 11 in Severn Township. New address 3835 Campbell Rd. 705-327-3279. Official opening is October 15 but they are probably accepting items now. If you have never been to a restore, it is like a Goodwill store for houses. You can drop off unused paint, plus old items from renovations such as windows and cabinets. They also take fixtures such as taps, lights and doorknobs. It is a great place to shop if you have a rental–update to a better image without the cost of new. Maybe I’ll see you there!

WATER DAMAGE

darleneelder — Tue, 23 Aug 2011 16:51:50 +0000

Water is the most powerful force on earth. A home owner must be diligent and constantly looking for evidence that it might be leaking into the home. The most obvious places to keep an eye on are: supply lines to washing machines, ice makers and dishwashers that may crack with age; a sump pump that is not working at full capacity may quit during a major storm (always when the hardware store is closed or ou of stock); the bottom of water heaters can rust out over time. Finally, water can seep in through basement walls where gutters and water spouts are not directed away from the building.

Besides keeping an eye out, you can purchase a ‘water leak detector’ and install it at the floor level near water heaters, sump pumps etc. Simple, inexpensive wireless models are widely available and will sound an alarmwhen water is detected on the floor nearby.

Info taken from Pillar to Post

WELL SHOCKING

darleneelder — Wed, 10 Aug 2011 17:43:33 +0000

Buying a home in the country generally means you will have well water. Not only do you, as a buyer, want to ensure your water is safe to drink, your bank requires it before granting a Mortgage. Sometimes, particularly if the house has been vacant (as in a seasonal home or power of sale) the first water test may not pass with flying colours. I have had 2 this past year–one with a count of ’80′ and the other was off the charts, it was so bad. In both cases the well had to be ‘shocked’. My first seller actually consulted with a well driller on the correct way to do this. It is not just about about pouring bleach down and letting it flow out. The amount of bleach should be measured at one cup per 10 ft. of depth. The water should be run from an outside tap, away from the septic system. Bleach in the septic system will kill the bacteria that helps it work. This was something I had never considered, but it makes sense. You run the water til you can smell the bleach at the tap. Then you let everything sit at least 8 hours; after which you run the water (again away from the septic) until you don’t smell bleach any longer. Then you can take your sample. If you are taking it from the kitchen tap, you can remove the little strainer in the tap because it may be contaminated, before you take your sample. The Health Unit suggests 3 samples be taken a couple of weeks apart to ensure the water is safe. The bank is only looking for one sample at 0/0.

BALANCED MARKET

darleneelder — Wed, 01 Jun 2011 18:45:38 +0000

The number of proeprty sales for 2011 has been close to those of 2009 but 30-40% less than 2010. Generally speaking, listing prices have been coming in close to 2009 values as well. For those looking for a ‘deal’ there are still a number of estate sales and powers of sale listings. Properties that are overpriced are sitting on the market for longer periods as buyers refuse to pay more than they think a home is worth. This also means agents are often spending more time showing property to buyers until they find something that they like and they they feel is worth the price.

Those who purchased their home one or two years ago and are considering re-selling have had an unpleasant surprise as they are finding to resell now, they will be barely recoup the money they paid and not the cost of upgrades or the costs associated with selling.

The good news is that the market is moving and the experts say it should gradually show an increase as we move into 2012.

WHAT ARE YOUR RENOS WORTH?

darleneelder — Wed, 20 Apr 2011 19:27:21 +0000

When buyers are viewing a home, they all consider the same issues. Do the windows need to be replaced? Is it electric heat? How old are the shingles? What does it cost to heat? As they walk through the home I’ll hear them say–it needs new cupboards; this room needs to be painted; the bathroom needs updating; we want hardwood floors.

It stands to reason that if a seller wants to sell, they should consider doing some upgrades. How does a seller choose which issues to address to make their home more saleable? What improvements give the most bang for your hard earned buck? The appraiser’s have a great resource on their website that calculates this for you. Check it out at http://component.aicanada.ca/e/resourcecenter_renova_all.cfm

CMHC MARKET NEWS

darleneelder — Wed, 06 Apr 2011 19:55:38 +0000

Mortgage rates are expected to stay flat (stable) throughout the year–increasing gradually into 2012 as the market improves. From 2008-2009 Canadians dipped into their savings to make ends meet. The debt load is starting to come down as those who lost jobs are now finding employment. Employment numbers are starting to increase throughout Simcoe County and the sales of goods and services are picking up in all areas as employment grows.

We can expect homes to sell in 30-60 days as the economy improves with more activity in homes priced below $300,000 because buyers don’t want to spend more than they can afford. Thus house sales are expected to move forward slowly over 2011 and 2012. House prices are expected to increase moderately–staying close to the rate of inflation at 2-3%, over the next 2 years. As Toronto prices increase to a stronger degree we can expect more buyers moving north of the city where they will get better value for their money. The market for 2011 and going into 2012 is expected to continue as a balanced market–a reasonable time to sell for a reasonable price.

WHICH WAY IS BEST?

darleneelder — Tue, 22 Mar 2011 19:17:52 +0000

When people are looking for a cottage, sunset view is ALWAYS on the top of their wish list. We had a cottage for a while–it faced east–we got morning sun, which I love, and watched the moonrise. Many times we would be out playing in the water when our neighbours behind us, who faced west, were bunndled up against the wind. They had rough water and had to have boat-lifts so their boats would not crash against the dock with the high waves. The west wind was great for keeping bugs away, though.

Recently I heard someone comment about friends who had bought a condo in Panoramic Point facing the water (which in this case is north). They found it very dark and had lights on during the day while those facing Highway 12 were bright with sunshine. However, as the sun actually sets in the northwest, those on the water side have that view in the evenings.

Depending on the the location of the house on the lot, you may be able to get what you want, even though the property faces the wrong direction. Consider–north is cooler and may have partial sunset view; west has sunset view but may be windy; east has morning sun, less wind and moon rise in summer; and finally south facing properties have sunshine nearly all day long.

Which direction you face can be a critical factor whether you are buying a house or a cottage.

POSITIVE OUTLOOK FROM LOCAL PLANNERS

darleneelder — Thu, 24 Feb 2011 19:35:54 +0000

Doug Downey, busy lawyer that he is, took time to organize a seminar for Real Estate Agents giving updates from around the area. Some of the highlights included:

Dan Landry from Orillia reported that local businesses are concerned about the shortage of qualified machinists and welders in the area, which will come to a head over the next 5 years. Planner Jill Lewis is involved with the student housing initiative in the city—the city has brought the rules in line with the fire code—only 4 renters per household. Big commercial development in Oro-Medonte with 23 industrial lots for sale or lease across from the expanding airport. Ramara is set for major commercial/industrial development along the Rama Rd. which expects to bring 1900-2200 jobs to that area over the next 20 years. Severn Township’s new zoning bylaw and official plan is now on line. Growth is mostly concentrated in the Westshore area with 1800 building lots, including 78 waterfront condos to start construction soon. There are 2 solar farms slated for two hundred acre parcels and more applications to review. Simcoe County is encouraging upgrades to the trails as cycling is becoming a major tourist draw and all areas can take advantage of this.

Generally, speakers from all areas felt that we had left the recession behind and we could now look ahead to future growth!

PROPERTY vs PEOPLE

darleneelder — Tue, 15 Feb 2011 15:23:43 +0000

When we talk about Real Estate, we often talk about ‘Sellers’ and ‘Buyers’. That is not really what it is about, though. The Listing isn’t about the Sellers—it’s about the property. There is the location and size of the property; the staging of the home; the features of the home; the cost of utilities in the house; and finally, the price of the house.

Buyers are about wants and needs: good schools for their children; an extra bathroom for the teenagers; a guest bedroom for family when they come to visit; a fenced yard for the dog—a living space that suits their life style and they can be happy in.

Price is only important in so far as it allows an acceptable compromise in wants and needs.

When a house is listed, the Sellers need to begin preparing to transfer their ownership of the home—they need to distance themselves from it and prepare to pass it on, that is why we ask that they remove pictures and personal items to showcase a more neutral space—one the Buyers can picture themselves in.