Real Estate
How much should a lawyer cost you?
Posted by admin on July 20, 2010 in estate planning, Real Estate
Every year, Canadian Lawyer Magazine releases its legal fee survey. The survey’s accuracy is subject to some question since it depends on the voluntary participation of lawyers cross country. With a relatively small sample size of almost 600, a regional concentration or a cluster of results in the low or high end of the fee [...]
The greatest threat to your home…
Posted by admin on April 26, 2010 in Real Estate
…is actually not fire or theft of property but water damage. On August 19, 2005, Toronto experienced up to 150 mm of rain in a 2-3 hour period. The Insurance Bureau of Canada estimated $40 million of water damage claims were paid to compensate insurance policy-holders from mostly basement damage. The City of Toronto alone [...]
The hidden skills of successful real estate investing
Posted by admin on April 21, 2010 in Real Estate
Somewhere along the way, one typically becomes a stocks/bonds person or a real estate person. I very rarely come across someone who invests large portion of their savings in both. The complexity of understanding and executing stock/bond investing or real estate investing successfully generally precludes someone from becoming proficient in both. Through a geographic accident, [...]
The top 3 myths of the Competition Bureau vs. CREA battle
Posted by admin on March 29, 2010 in Real Estate
The Canadian Real Estate Association (CREA) owns MLS in Canada. In response to the Competition Bureau’s (the “Bureau”) allegations that it was engaging in anti-competitive practices, CREA members voted to change the way its members could access MLS; in essence, members could access MLS by offering more than just the traditional brokerage service whereas they [...]
Condos are eligible for the home renovation tax credit
Posted by admin on March 8, 2010 in Real Estate, Taxes
Congrats to Veselin who won a free copy of the QuickTax tax preparation software. As many Canadian taxpayers know, the Home Renovation Tax Credit (HRTC) was a one year tax credit for eligible home renovation expenses incurred between January 27, 2009 to February 1, 2010. The 15% credit applies for eligible expenses between $1,000 to [...]
What are these mysterious cash flow positive real estate vehicles?
Posted by admin on March 4, 2010 in Real Estate
For anyone who is interested in investing in real estate, one undoubtedly runs across individuals or groups who speak or write about cash flow positive joint ventures or some other variation of this phrase linking real estate, passive income and investment returns. The pitches tend to have a familiar refrain: there a generalized notion of [...]
Are you better off with a non-monopolistic MLS?
Posted by admin on February 10, 2010 in Real Estate
Multiple listing service (MLS) is short-hand for a system that co-ordinates the orderly buying and selling of real estate. One of the key components of the MLS system is a centralized database of listed homes for sale. Owned by real estate associations like The Canadian Real Estate Association (CREA), it can effectively shut out competition [...]
What is in store for condo investors in 2010?
Posted by admin on February 8, 2010 in Real Estate
If you are a condo owner or a condo real estate investor investor, or are contemplating investing in a condo, there are a few key factors to consider in 2010. Maintenance fee escalation on new units: In the last 5-7 years, there have been a staggering number of new condos built in many major urban [...]
Is there a relationship between savings rates and real estate values?
Posted by admin on November 16, 2009 in Money Saving Techniques, Real Estate
To paraphrase the words of the SteadyHand blog, is this a financial crisis well wasted? Last week, ING in Canada and the UK warned of the possibility of a real estate bubble in the residential and commercial real estate market spurred by the low interest rate environment. Beside the obvious bubble and double recession concern [...]
Bought a home with problems? Part 2
Posted by admin on October 29, 2009 in Mom2KG Columns, Real Estate
Today is a continuation of yesterday’s post on what to do if you buy a home with a problem; a dialogue between myself and my regular columnist, Mom2KG. Today we talk about how real estate lawyers help (or don’t) and how to approach the vendor in solving problems in the house they are selling you. [...]
