Betty Bartusevicius

Home alone - not anymore. Your adult child is back. Is It Time To Downsize?

Call ‘em Boomerang Kids or KIPPERS (Kids In Parents' Pockets Eroding Retirement Savings) - but by any name, the number of adult children living with their parents is on the rise. And for Boomers, that can be a double whammy because many are being sandwiched between caring for their adult children and for their aging parents.

A recent survey of Boomers revealed that four-in-ten who care for both children and parents say they have been forced to reduce the amount they're investing for retirement, one-quarter say they have adopted a less comfortable lifestyle, and one-quarter expressed concern that this financial assistance will jeopardize their retirement security.

There's no doubt that having adult children at home creates financial challenges by increasing the cost of living, creating a drag on savings, and even causing a loss of freedom. Here are some practical ideas about how to reduce stress, hard feelings and avoid potential financial disaster:

Pay to stay: Treat your child as an adult and try to replicate ‘real world' conditions by having them contribute to household expenses, chores, and even pay rent. If they aren't employed, encourage them to actively seek work.

Invest in a secure future: As an alternative to paying rent, insist that your adult child establishes an investment plan to help pay a future down payment on their own home.

Tax relief: If your stay-at-home adult kid is also a student and has no tax to pay, you can relieve some of the pinch on your finances by taking advantage of unused federal tuition and education credits (combined). Up to $750 can be transferred from the student to a parent. (Provincial tax credits may also be available.)

Define ‘rent': Is your child paying you fair market value rent or just enough to cover their share of home upkeep and the cost of groceries? If it's the latter, the Canada Revenue Agency (CRA) says you don't need to report that income on your tax return but you cannot deduct expenses. If you attempt to claim a rental loss, the CRA will put you to the test of proving the rental rate is at fair market value, and there is a reasonable expectation of profit.

With children taking longer to become self-sufficient and aging parents expected to live longer, Boomers could be in for a rough ride. The first step is talk openly with your children about money and responsibility. And a good second step is to discuss your situation with your professional advisor to make sure your financial plans stay on track.

The above article has been provided to me by John Shcoll. For further information or to discuss your financial future, give John a call.

John Scholl CLU (Chartered Life Underwriter),CGA (Certified General Accountant), B. Mathematics, Consultant - Investors Group Financial Services Inc.
& Investors Group Insurances Services Inc.
Wealth Management & Financial Planning
Phone: (905) 450-2891 X529
Toll Free: 1 (866) 799-2223 x529
Cell (416) 731-3660
Fax: (905) 450-9747

Compliments of:
Betty Bartusevicius, Sales Representative
RE/MAX Realty Specialists Inc., Brokerage
905 828 3434
Fine Homes In 905
416 427 1875

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By now we have all heard that the Bank of Canada has raised the interest rate another quarter point. It was in the paper early this morning. The prediction is that it will go up some more by the end of the year.

As I have been telling my buyers, this is an opportune time to purchase a home and still get a great interest rate. Do this before rates go up some more. There are plenty of homes on the market so there is choice. With many enjoying the holiday season and all the activities that come with the summer, it may be a good time to sit down and chat with me about a home purchase, or even the sale of your existing property.

The following article was provided to me by Kristian Harris of Monster Mortgage, an independent Mortgage Broker.

"The Bank of Canada Tuesday raised its benchmark lending rate for the second consecutive month while cutting its forecast for economic growth over the next two years because austerity measures in Europe and economic fits and starts in the United States will make for a slower global recovery and a "more gradual" Canadian rebound.

In the statement on its decision to lift the overnight rate by one-quarter of a percentage point to a still low 0.75 per cent, Bank of Canada Governor Mark Carney and his rate-setting panel reiterated that future moves will largely depend on developments around the world and, in turn, how they may impact Canada's export-heavy economy.

Canada's economy will grow at a 3.5 per cent annualized pace this year instead of the 3.7 per cent rate that policy makers projected in April, and 2.9 per cent next year instead of 3.1 per cent, the central bank said. The following year, however, the domestic economy will grow at a 2.2 per cent pace instead of the 1.9 per cent predicted in April.

A flurry of belt-tightening measures in Europe have lowered the risk of an ``adverse outcome'' to the continent's debt crisis and raised prospects for ``sustainable long term growth,'' but will slow the worldwide turnaround, the central bank said. Also, in the United States, Canada's main export market, the bank said private demand is ``picking up but remains uneven.''

The revisions -- which will be explained more in a new forecast that the central bank will release on Thursday -- are due to ``a slightly weaker profile'' for global growth but also to ``more modest consumption'' domestically as the housing market cools, government stimulus spending runs out and business investment remains tepid, the bank said.

``Given the considerable uncertainty surrounding the outlook, any further reduction of monetary stimulus would have to be weighed carefully against domestic and global economic developments,'' the central bank said, using identical language from its statement on June 1, when it became the first in the Group of Seven to raise borrowing costs since the recession.

Investment by Canadian companies ``appears to be held back by global uncertainties'' and hasn't bounced back from a sharp drop during the recession even as many firms are hiring, the central bank said. Without being more specific, policy makers said that over their projection period they anticipate business investment and net exports will make a ``relatively larger'' contribution to economic growth -- a hint that the domestic consumption that powered Canada's economy out of the recession can't be relied on as much to fuel the recovery going forward.

Inflation will stay near the central bank's 2-per-cent target throughout the projection period, policy makers said, but the economy won't return to full capacity until the end of 2011, or six months later than they had forecast in April."

Thank you, Kristian, for your insight and for the speed at which you provided this to me.

If you have any questions regarding your finances, contact Kristian. For all your Real Estate needs, call me, Betty, directly at 416 427 1875. Let me help you get into a new home or sell your existing house.

Betty Bartusevicius, Sales Representative
RE/MAX Realty Specialists Inc., Brokerage
905 828 3434
Fine Homes In 905
416 427 1875

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Providing you with honesty and integrity, qualities you deserve from your Realtor

Double-digit gains characterize average price appreciation in most Toronto neighbourhoods in 2010, says RE/MAX
Mississauga, ON (July 14, 2010) - Toronto's

I have been trying to tell my buyers that Lorne Park is the place to live. I chatted with an new owner about his new life in Lorne Park. he said that for few years now his children had been enrolled in a private school. Now that he lives in Lorne Park, he has taken his kids out of private school and has enrolled them in the Lorne Park School District. He is so happy with the education and sports that are offered in these schools, and he is extremely happy with the teachers. "Well worth the move" were his words.

Here is a report that was provided to us thanks to Michael Polzler:

Mississauga, ON (July 14, 2010) - Toronto's housing market roared back to life in the first half of 2010, with single-detached homes and condominium apartments and townhouses posting unprecedented double-digit gains in average price in most districts, according to a report released today by RE/MAX Ontario-Atlantic Canada. This is in stark contrast to the July 2009 RE/MAX report that found that values in approximately 80 per cent of neighbourhoods surveyed in Toronto had depreciated over the same period in 2008.

RE/MAX examined 63 Toronto Real Estate Board (TREB) districts in the single-detached category between January and June of 2010 and found that 85.7 per cent experienced double-digit gains. Mississauga's Lorne Park (W13) led in terms of percentage increase in average price with a 30.2 per cent upswing in the first six months of the year, bringing year-to-date values in the area to $880,373 (vs. $676289 in 2009 and $830,041 in 2008). Markham (N01) ranked second with a 27.7 per cent jump to $779,168 (vs. $610,322 in 2009 and $683,050 in 2008) while Armour Heights, Bathurst Manor (C06) came in a close third at 27.5 per cent (rising to $732,535 from $574,599 in 2009 and $589,808 one year earlier). Mississauga's Creditview, Erindale area (W16) secured fourth spot with an average price of $561,973-up 26.5 per cent over 2009's $444,221 and 2008's $476,877. Rounding out the top five was York Mills, Hogg's Hollow, Bridle Path (C12) with a 26.2 per cent increase over last year and an average price of $1,868,591 (vs. $1,480,296 in 2009 and $1,580,851 in 2008).

"While first-time buyers dominated housing markets during the first half of 2009, move-up buyers ruled during January to June of 2010," says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. "Rising interest rates and the introduction of the Harmonized Sales Tax (HST) in the province helped drive activity, with more than 50,000 sales reported year-to-date-a figure on par with record 2007 levels."

Now that the summer market has arrived, the rising interest rates have been dealt with, HST is here and complaining about it doesn't help, and summer holiday season has kind of taken it's toll on the market. I am finding that homes are not coming on the market as was previously expected. I'm still hoping for more. It is still a relatively stable market. For more information, give me a call directly at 416 427 1875.

Visit my web site and find information that should be useful to you as either a buyer or a seller.

Can I help? Call me. No pressure tactics. Your decision is the decision that I will respect.

Betty Bartusevicius, Sales Representative

Re/Max Realty Specialists Inc., Brokerage

905 828 3434

FINE HOMES IN 905 416 427 1875

betty@bettybart.com

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bettybart.com

Good Morning Canada!!! Happy Canada Day !!!!
Here we are at the beginning of summer and all of us enjoying a beautiful day of celebrations. There is so much going on this weekend. Where do you live? Just check out what is going on in your own community. Each and every city surrounding Toronto is celebrating. Fireworks are going to be exploding in the skies! It will be easy to find a park to watch some explosions. Bring a blanket, some popcorn, and the kiddies and enjoy this.

If you are reading this on the morning of the 1st of July, you are now going to be paying a new tax. Yes, folks, the dreaded HST is finally here. I've been talking about this for a while. Life is not going to stop! We are going to continue with our lives! We're going to continue to pay taxes. I did fill my car up with gas today just so that I could get one more tankfull without HST. We have all 'enjoyed' paying over $1.oo for gas, so this is not going to be a surprise. I have talked to contractors and builders, and they all said that they are not investing in anything because they don't know how HST will affect them. Well, unless you decide to retire from Ontario and possibly move to a different province (not BC) you will be paying HST.

Now, as HST pertains to Real Estate:
New Homes up to $400,000 - Still pay GST but no PST
New Homes Over $400,000 - will be paying HST
Resale Homes - no HST, no GST, no PST
Condo Fees - no changes therefore no HST
Residential Rents - no changes therefore no HST

There are lists upon lists of when HST will be charged. It's all provided at ontario.ca/taxchange

Now, go out and enjoy a day off! HAPPY CANADA DAY!!! And have a great start to the summer.

Any questions? Want to just chat?

Call me, Betty, directly at 416 427 1875

Betty Bartusevicius, Sales Representative
Re/Max Realty Specialists Inc., Brokerage
905 828 3434
Fine Homes In 905
Directly at 416 427 1875
Email: betty@bettybart.com
Web Site: bettybart.com

PSST: IF YOU KNOW SOMEONE WHO IS THINKING OF BUYING OR SELLING A HOME AND NEEDS MY HELP...FEEL FREE TO PASS ALONG MY NAME AND NUMBER TO THEM! ALL REFERRALS ARE GREATLY APPRECIATED

not intended to solicit buyers or sellers under brokerage contract

Welcome to an elegant condominium for sale at 1915 Broad Hollow Gate in Mississauga. This is executive living at its finest in this exclusive wooded community in Mississauga . This gem is tucked away for quiet and privacy. It has a popular open concept design with 9 foot and 18 foot ceilings. Picture windows line the rear of this home with majestic wooded views. The kitchen has an upgraded Bellini Kitchen with granite counter top wrapped to backsplash with under valance lighting and wall to wall furniture finish twin pantry with a granite topped desk. Parking for 6 vehicles.

For more pictures of this home click here

This home also offers a built in dishwasher, all blinds and window coverings, garberator, all electric light fixtures, central air conditioning, pot lighting throughout, hardwood flooring, 7.5 Inch baseboards, large deck with a privacy wall overlooking the woods, garage door opener and remotes

If not this home, perhaps I can show you something else?

Feel free to give me a call and let's discuss your real estate needs. Your decision is the decision I will respect.

Betty Bartusevicius, Sales Representative
RE/MAX Realty Specialists Inc., Brokerage
905 828 3434
Cell: 416-427-1875
Email: betty@bettybart.com
Web Site: http://www.bettybart.com
Fine Homes in Nine Oh Five

PSST: IF YOU KNOW SOMEONE WHO IS THINKING OF BUYING OR SELLING A HOME AND NEEDS MY HELP...FEEL FREE TO PASS ALONG MY NAME AND NUMBER TO THEM! ALL REFERRALS ARE GREATLY APPRECIATED

not intended to solicit buyers or sellers under brokerage contract