Betty Bartusevicius

Is the Housing Market Rebounding?

First-time home buyers are holding up our market as the sales of existing homes in the month of May rose by 2%. This is the first increase in more than a year. Take a look at the market watch and do some figuring.

If you compare to last year, it is still down by 1%. But, I think that most buyers and sellers are now realizing that the market is quite different from a year ago. It has taken us a few months to adjust our expectations when selling a house and not thinking of, " If I would have sold a year ago....".

We are hearing reports of multiple offers on some properties. Milton has been experiencing multiple offers for a couple of months now. And, the same is happening in certain areas of Mississauga. Price your house according to the market, and it WILL sell and the possibility of multiple offers may occur.

I am seeing a turn towards a seller's market in some areas as less homes are being listed for sale, but there are buyers out there for homes. I did an open house one weekend in Mississauga and I had approximately 30 buyers come in to view the home. This is between Saturday and Sunday. Watch for my signs in Mississauga!!!

I await in anticipation what the nay-sayers will say about the summer market. As per usual, I am prepared to see it slow down as the summer holiday season approaches.

Here is some information for the Market Watch that is provided:
"June 2, 2009 -- In May 2009, Greater Toronto REALTORS® reported 9,589 sales, up almost two per cent from May 2008 - the first annual increase since December 2007. The seasonally adjusted annual rate of sales in May was 81,300.
"The resale housing market in the GTA has remained resilient in the face of challenging times globally," according to TREB President Maureen O'Neill. "Many home buyers have taken advantage of extremely low mortgage rates."The average price for May transactions was $395,609 - down less than one per cent compared to the same month last year."The average resale home price has moved in line with last year's level because of tighter market conditions experienced this Spring," stated Jason Mercer, TREB's Senior Manager of Market Analysis. "Home sales have increased strongly relative to new listings, bolstering home prices."

For further information regarding the Market Watch feel free to contact Betty directly at 416 427 1875 or by email.

I can help you save time and money by shopping smarter

Are you an Owner? If you own property in the Mississauga, Oakville, or Burlington Communities, and you would like to sell your residence, contact Betty Bartusevicius at 905 828 3434 or directly at 416 427 1875 and get a free market analysis.

Are you a Buyer and are interested in purchasing a home in the 905 area code? Contact Betty to receive FOR SALE/SOLD data of neighbourhoods to enable you to make an informed decision and do some comparable shopping.

If you know of friends, family, or colleagues who are thinking about making a real estate move, feel free to pass along my contact information. Know that their real estate needs will be well attended to with kindness and professionalism. Your referrals will be greatly appreciated.

There is no time like the present to begin your investigations into a property purchase or sale that will lead to sound decision making.

Interesting article in the Toronto Star this past weekend!! It was written by Bob Aaron. Bob is a Toronto real estate lawyer and board member of the Tarion Warranty Corporation.


There were certain points that I have spoken about in previous blogs, and also have on my web site. So, feel free to get the free information.


The article talks about buying a condo from a builder and the problems that buyers can encounter. Remember, this can also happen when buying freehold homes from the builder. Bob states: " I had the opportunity to review a condo builder purchase agreement with clients. They had been told in the sales office what they thought was the total purchase price and asked me to see if there were any surprises in the 39-page offer."


"The salesperson had failed to mention that the price on the front page was not the final one and that there were a great many extras not included in that figure."


Here are some items that the builder forgot to mention and that now they were responsible to pay at closing in addition to the purchase price:

• - The unit's proportionate share of the cost of installation of gas, hydro, sewers and water service and meters, to an unlimited amount
  
• - Any new taxes imposed on the unit by any level of government after the agreement was signed (think HST) -- also an unlimited amount
  
• - The Tarion warranty enrolment fee of $502.
  
• - An unlimited levy against the unit for parks or other municipal charges.
  
• - Provincial sales tax on the appliances included with the unit.
  
• - An extra $300 for the paperwork to hold the purchasers' deposit in trust.
  
• - $150 to discharge the builder's construction financing and give clear title after closing.
  
• - The builder's $52.50 transaction levy payable to the Law Society.
  
• - $150 to subsidize the builder's legal fees.
  
• - Interest on the balance of the purchase price from the day of final closing to the next banking day.
  
• - The amount of any increase in municipal, education or transit development charges imposed between October 10 2008 and closing.
  
• - An unlimited contribution to the builder's proportionate share of all costs associated with a development agreement entered into with the city.

As you can see, the cost of these extras could easily exceed $10,000 to $20,000. And, "since they are classified as extras or "adjustments," they are typically not eligible for mortgage financing. Not one of them was mentioned in the sales office."


"To make the purchasers' cash flow worse on closing, the offer requires that the buyers prepay to the builder estimated property taxes for the year of closing and the year after - another $4,000 - $5,000 for taxes that won't even be assessed for at least another year."


In that 30 pages, Bob points out to more disclosure materials:

- A requirement for all the condo owners to jointly buy from the builder a $185,000 guest suite and a $215,000 superintendent's unit. The unit owners have to pay this money over 11 years with interest at 4% over the 10-year Canada Bond rate. The extra cost for this would total about $555, plus interest for 11 years. This charge is not mentioned in the purchase agreement.


The buyers were advised by Bob to go back to the builder and amend the agreement to cap the extra charges. Some builder will and some won't.


Extra charges always occur, and I don't think that any buyer has a problem with that. The problem is that there is a lack of disclosure of the charges in the sales office. This is typical in many builder sales offices. This is why I recommend taking the purchase agreement to your lawyer to review it before you sign anything with the builder.


This may scare you out of buying from a builder. Remember, there are very reputable builders out there and they will tell you everything. It's the ones that may forgo disclosure to ensure a sale. There are also many ways that a real estate agent can help. We know what questions to ask.


What a great article. I was very pleased when I saw this because I have talked about the hidden costs. You may question why a lawyer is even necessary in a real estate deal. Well, a real estate lawyer will find all the hidden points that could be missed and point them out to the buyer. They are available to answer questions that require legal interpretations. They are the experts.

Contact Betty Bartusevicius at 905.828.3434 or directly at 416.427.1875.

Re/Max Realty Specialists Inc., Brokerage

Contact me by email: http://www.bettybart.com/AgentProfile/contactme.cfm

Need a quick home evaluation?

Are you an Owner? If you own in the Mississauga, Oakville or Burlington Communities, and you would like to sell your residence, click here and get a free value analysis.

Are you a Buyer and are interested in purchasing a home in the 905 area code? Contact Betty Bartusevicius to receive For Sale/Sold data of neighbourhoods, to make an informed decision and do some comparison shopping.

If you know of friends, family, or colleagues who are thinking of making a real estate move, feel free to pass along my contact information. Know that their real estate needs will be well attended to with kindness and professionalism. Your referrals will be greatly appreciatedb

In the Real Estate News insert added to the Toronto Star this morning, I spotted an interesting article. It was written by Maureen O'Neill, President of the Toronto Real Estate Board. It spoke of the technical tools of my trade -- Real Estate.



When I first started in this business, I signed up to have a web site. I didn't know what to do with it so I let it sit and fester as many of agents do. I kept asking around, "Why is my site not doing anything for me?" Well, I learned in the last year that it will only do for me what I do for it. I got connected with David, my computer guru and he keeps me on my toes. I sometimes go kicking and screaming, but I get things done and when I see results I know that it was all worth it. I still don't have a wireless handheld device because my cell phone does everything that I need it to do. I have invested in a small digital camera which I carry along with me and I take my own pictures to provide sellers CD's or DVD's of the properties that they are selling. I can also provide these same devices to include all forms of the transaction that you have signed and pictures of your old property and new home. My laptop has become my best friend. Although I don't like to carry it outside my office space, it is within reach of my fingertips when I need it.



As we all know, approximately 85% of buyers and sellers begin their search for information on the internet. Networking sites are becoming more important in helping you to achieve a purchase or sale in cooperation among my profession. I have a couple that I work with and it has proven to be very beneficial to myself and my clients. With your consent, I can upload your property information to the multiple listing service for exposure that gives sold, expired and active listings. This is used highly by Realtors. I also expose your property to public websites and have become quite handy at advertising through various ads available. All this is done at no extra cost to you, the buyer or seller.



If you register on my web site, you are able to view homes that are for sale in areas that you are considering. If you are considering the purchase of a home, and are registered, you may sign up for my prospect match that will match your criteria to new listings which will be automatically sent to you each night.



If you are interested in selling your home, you can do a quick evaluation of how your home may stack up to the others in your neighbourhood that are for sale or have sold recently.



Besides having home search information, I have provided interesting facts that will help you to make the real estate experience as stress free as possible. I believe that the more information you can get, the more prepared you are in making an informed decision. I have all the forms that you could possibly need to sign, and they are in your terms, not lawyers terms. As per usual, I am always available for further explanations.



I am in this business for the long term. Being a full-time agent, I am committed to providing you with excellent service and I continue to share my real estate knowledge and thoughts with you. I want to be known as your "Real Estate Advisor". Whether you want some reliable information about the Real Estate Market, or if you are just curious about how your home might stack up against neighbourhood listings, remember I'm just a call away.



Are you an Owner? If you own in the Mississauga, Oakville or Burlington Communities, and you would like to sell your residence, click here and get a free value analysis.

Are you a Buyer and are interested in purchasing a home in the 905 area code? Contact Betty Bartusevicius to receive For Sale/Sold data of neighbourhoods, to make an informed decision and do some comparison shopping.

If you know of friends, family, or colleagues who are thinking of making a real estate move, feel free to pass along my contact information. Know that their real estate needs will be well attended to with kindness and professionalism. Your referrals will be greatly appreciated.



Doug Larson is quoted as saying: "Spring is when you feel like whistling; Even with a shoe full of slush!" So, let's get into action this spring, and call me even if it's just to chat.

The hottest topic for everyone these days is the market. Although the forecast for 2009 promises more of the same, most markets are expected to weather the storm, says RE/MAX.

Housing market performance will clearly be contingent on economic performance at a local, provincial, and national level in 2009. Issues affecting the overall economy are impacting housing markets across the country and the situation is not expected to be remedied until consumer confidence is restored. With inventory levels remaining stable, pent-up demand kicking into gear, and low interest rates stimulating home-buying activity, we are seeing a bounce back in various areas surrounding the GTA.

While the economy will dictate real estate performance this year, it's important to remember that demand still exists in the marketplace. In the midst of stock market turmoil, sold signs continue to appear on lawns across the country. With affordable lending rates and increased selection, first-time and move-up buyers with good credit may choose to play their investment strategy safe and purchase a home. The comfort of a tangible investment like real estate goes a long way in tough times.

Are you an Owner? If you own property in the Mississauga, Oakville, or Burlington Communities, and you would like to sell your residence, contact Betty Bartusevicius at 905 828 3434 or directly at 416 427 1875 and get a free market analysis.

Are you a Buyer and are interested in purchasing a home in the 905 area code? Contact Betty to receive FOR SALE/SOLD data of neighbourhoods to enable you to make an informed decision and do some comparable shopping.

If you know of friends, family, or colleagues who are thinking about making a real estate move, feel free to pass along my contact information. Know that their real estate needs will be well attended to with kindness and professionalism. Your referrals will be greatly appreciated.

Contact Betty Bartusevicius at 905 828 3434 or directly at 416 427 1875
Re/Max Realty Specialists Inc., Brokerage

Contact me by email; http://www.bettybart.com/AgentProfile/contactme.cfm

I can help you save time and money by shopping smarter;
http://www.bettybart.com/createnewclientuserid/whyregister.cfm

There is no time like the present to begin your investigations into a property purchase or sale that will lead to sound decision making.

Experience is not expensive; it is Priceless.

Spring Landscaping
Here are some spring tune ups for your yard. If you are thinking of selling, these hints will get you ahead of your competition in creating the best curb appeal.

Survey Your Yard
Make note of tree limbs that should be removed. The ones that need the attention are those that overhang structures. Hire a specialist to maintain large trees. Rake mulch from the beds planted with bulbs before foliage appears, and refresh the mulch in other planting areas after soil warms. Check fences, steps, and pathways for disrepair caused by freezing and thawing.

Clean Tools and Order Plants
Tune up tools so everthing is ready when things start growing. Make note of what is missing, and order tools for the new growing season. Choose new plants for the garden so that you are ready for your spring planting.

Get Ready To Mow
Get your mower and leaf blower (if you have one) serviced. If you are able to do it yourself safely and properly, sharpen the mower blades yourself. Refill the mower with oil, install fresh spark plugs, and lubricate moving parts if necessary. Clear the lawn of winter debris and look for areas that need reseeding before you mow the lawn for the first time for the season.

Prune Trees and Shrubs
Remove dead and damaged branches from trees and shrubs after these plants resume spring growth. Thin and trim summer-blooming shrubs after they flower.

Prepare Beds
Clear the planting areas as soon as the soil can be worked. Remove sod, weeds, and debris. Spread your compost or manure over the soil and then cultivate it into the soil.

Fertilize
Apply balanced fertilizer around trees and shrubs when new growth appears.

Start a Compost Pile
Start a compost pile or start a compost bin if you haven't done so in previous years. This has to be turned regularly. This will be ready next spring.

Contact Betty Bartusevicius at 905 828 3434 or directly at 416 427 1875
Re/Max Realty pecialists Inc., Brokerage

Contact me by email; http://www.bettybart.com/AgentProfile/contactme.cfm

Would you like a private conversation regarding curb appeal?

Experience is not expensive; it is Priceless.

I am in this business for the long term. Being a full-time agent, I am committed to providing you with excellent service and I continue to share my real estate knowledge and thoughts with you. I want to be known as your "Real Estate Advisor". Whether you want some reliable information about the Real Estate Market, or if you are just curious about how your home might stack up against neighbourhood listings, remember, I'm just a call away.

Are you a Buyer and are interested in purchasing a home in the 905 area code? Contact Betty to receive FOR SALE/SOLD data of neighbourhoods to enable you to make an informed decision and do some comparable shopping.

If you know of friends, family, or colleagues who are thinking about making a real estate move, feel free to pass along my contact information. Know that their real estate needs will be well attended to with kindness and professionalism. Your referrals will be greatly appreciated.