Cobourg, ON

Cobourg ON - former short-list candidate for national capital of Canada. Neighbour to Port Hope, original trading post in early settler days. Respectively called Hamilton and Toronto prior to the larger and more well know modern cities were named as such. Home to a great many well preserved and restored century homes - from starter to magnificent mansion.

The enduring appeal of of historic homes is unquestionable. There are legions of fans out there who troop through house tours and a few who will drop seemingly endless quantities of money into them in restoration efforts. And they do so for the love of something that today's newer built homes lack in many ways - character. These are houses built at a time when you finished the building you were working on before moving on to the next project, unlike today where houses are built in stages, row on row. Even modern custom homes are usually one of several projects any self respecting contractor or designer is working on. And the character that is added to these homes can easily be bought by the linear foot at your local hardware store or lumber yard.

But love can sometimes hurt you, and when entering into a relationship with a Century Home caution is always the wise approach. There may have been gold in the hills when the house was built - but in the walls of that house today can be heaps and heaps of trouble! More the caution if the house has been completely fixed up... surface work can seemingly increase the value of an old house tremendously, but what's behind all that new plaster and hardwood? Knob and tube? Dry rot? Vermiculite? Asbestos? Lead Paint? Sub-par construction by today's standards?

That last point could raise the ire of some Century Home fans I'm certain - but it's true, many of the oldest homes were built with what is known as "balloon construction." Balloon construction built outside walls of the house first then suspended the flooring in between... you know, with nails-n-stuff. Now, a floor that has been secured to a wall for over a hundred years with fasteners (rather than sitting on top of each level's wall) is going to be reaching its useful age sometime much sooner than when it was originally built. And the "stuff" of a typical modern family dwarfs that of a century plus ago. So the additional weight of more books, computers, clothes, bathroom fixtures and so forth will only add to that eventual failure if not addressed in the meantime. But can you find out if this is the case for your century home before you buy it?

Well, anything not visible becomes difficult to verify - so one must rely primarily on two elements of research before buying. First, seller disclosure - particularly if there have been renovations, repairs or upgrades to the house. Find out from the seller what they know, in writing, so you can be more assured you aren't buying a liability instead of a home. And this is a good point for Century home owners to pay attention to as well. If you are sinking that endless pot of money into upgrading and restoring your house, keep meticulous records of everything. There'll be gold in them there files! Future buyers who can see invoices, written proposals of work done and photographs as restoration is done will have a very good idea of what they are buying and likely value this knowledge in the homes final sale price.

Secondly, look into the house's provenance. Most towns and cities have historic archives available that may hold some useful information about when the house was built and by who, which can also lead to a better understanding of how the house was built and perhaps by reputation how well it was built. You may also find alterations to the house that should have had permits... which if not on record could indicate more recent concerns to the homes integrity. This isn't always easy work, and doesn't always bear fruit, but it's a good way to find out if concern is at all warranted about the overall soundness of an old building.

If neither of these approaches get you all the answers you need, then there is of course the option of doing a more thorough inspection - but these are expensive, often difficult to negotiate with the seller (who may have to lower the price of a house if a significant problem they previously knew nothing about is discovered) and can become messy if repairs are required and the present owner refuses to be satisfied. So really, if the seller isn't prepared to find out what's needed to make the buyers comfortable in purchasing the house... it may be best to just walk away.

This post just scratches the surface of Century home ownership, purchasing and selling as the issues are as wide and varied as the number of century homes available. Making certain you choose to work with a Realtor who is knowledgeable about the specific issues old buildings present is critical for all those who aren't themselves expert. But the character these historic houses - Jacksonian, Victorian, Edwardian (in our region at least) and others - are well worth investing in if you know what you're getting yourself into. Just don't let your love blind you to what lies in store because love lost can quickly turn into a nightmare, expensive and drawn out - just like any divorce.

Interest rates centrally have been set to stay where they are for about another year... but that's not the rate we consumers pay. And the banks aren't beholden to the central rate either, which is why this week we see rates creeping back up again for mortgages. Anyone wh is thinking about buying and requires a mortgage to do so would be well advised not to drag their feet too much because the rates for us normal folk can start going up as market activity increases, or just becaues the banks decide for business reasons they want to.

If you are looking to get pre-approved then contact a Realtor you are interested in working with first - they will have Mortgage Representatives they work with (usually a few so you still have choice) which will help if there are any complications during waivers (waiving conditions on a purchase). A Mortgage Broker who has a relationship with the Realtor involved will inherently be more inclinded to make certain everything is done correctly and quickly so that the relationship remains intact.

Prices are low, choices high, money cheap - it has never been this good a time to buy and won't be again for a long, long time - if ever!

The Victoria Park Garden Clock:

Cobourg was founded in 1798 and known as Hamilton, after the township. The town was renamed in 1819 in honour of the marriage of the Princess of Wales to Prince Leopold of Saxe-Coburg-Saafieldonce. Cobourg has played an important role in the history of confederation, including being on the short-list of cities vying to become the nation's capitol, along with Ottawa and Kingston. In the April 2006 edition of MoneySense Magazine, Cobourg was named the sixth best place to live in Canada - when considering economy, home prices and leisure as measures.

Home to some of Ontario's most prominent citizens, Cobourg continues to attract many of the province's elite. Egerton Ryerson founded Victoria College here (later Victoria University - now part of the University of Toronto's downtown campus) before moving on to establish the groundwork for the education system we know in Ontario today. The former Victoria College building, was designed by Kivas Tully (who also designed Queen's Park) and was officially opened in 1860 by the Prince of Wales who would later become King Edward VII. Now it is known as Victoria Hall and, with it's prominent location in the middle of King Street, Cobourg's main centre of business , the building today houses Cobourg's municipal offices, a museum and a concert hall. Other notable Cobourg residents are: the first Anglican Bishop of Toronto John Strachan; Marie Dressler of silent film fame; frontier artist Paul Kane; and one of the fathers of Canadian confederation James Cockburn.

Along with Cobourg's rich history of famous residents, it is today home to 2006 Stanley Cup winning-goal scorer Justin Williams of the Carolina Hurricans, and librarian and author Ed Greenwood, who co-wrote the original stories the Dungeons and Dragons role playing games are based upon.

With over 250 different stores and businesses, Cobourg's downtown hub is considered the economic centre of Northumberland County. For a list of businesses and their contact information you can go to HodgesLodges.ca and look under "Local Resources" on the left menu bar.

By: Christine & Stephen Hodge

While the market has warmed somewhat in recent months, let's face it, it's still a tough slog out there. But just because it's tough, doesn't mean one should give up - Realtor or Seller. Simply put, those who put forth the effort will be justly rewarded - and that's a sentiment all Realtors and Sellers should heed!

What helps sell in a tough market? Here's a list of what we find works to sell a house while the market is in the buyer’s favour:

1.) CLEAN: Do not underestimate the power of a hair, or a stain in just the wrong place (think bathroom here in particular) to cause a potential buyer to go scurrying from your home. It shouldn't matter that much, but to some it really, really does! Pay close attention to bathrooms, kitchen and windows.

2.) CLUTTER: Or, more to the point, a lack thereof. A homey, but relatively uncluttered living space is more appealing, feels larger, and allows buyers to better perceive their personal objects in the space they’re thinking of buying. Pay particular attention to counter tops, storage areas, kid’s rooms, family areas - everywhere junk tends to collect! Insert “more” or “less” in front of each word in this equation:

Space = Property = Value.

3.) LIGHT: A bright house is a welcoming one. If you’re living to save energy and have reduced the wattage in all your bulbs - good for you! But while you house is up for sale, boost that wattage back up so the house lights up for showings. And don't let burnt out bulbs hang around - especially in entrance ways, dark corners of basements or in walk-in closets. Buyers want to see everything – so make it easy for them!

4.) ODOUR: Have pets? Smoke? Forgot to take out the garbage or diaper pail? Every house has a smell and bad smells can kill a deal faster than anything! Conversely, a nice, clean, mild smell (baking bread, fresh cut flowers and such) can really help people feel at home. However, avoid strong smells of any kind, good or bad. Pet odour, cleaners, masking agents (like plug-in air fresheners), smoking and other strong scents tend to have a negative impact either by actually smelling bad or, and perhaps even worse, suggesting a bad smell is being hidden (even if it’s not).

5.) COLOUR: The right colours really help set a mood in a house. Too bright and garish will give some people a headache. Too muted and dark will make the home feel cavernous or too small. Too many and you create a chopped up feeling. There's no one rule here, but go for what appeals to a broad base, and lose the personal preferences - especially if they tend to one extreme or another. And never, ever, underestimate the value of a fresh coat of paint where it’s needed!

6.) CURB APPEAL: First impressions count. If you have an untended garden, a broken railing on the front porch, or paint that's peeling, then you’ve already set a tone for the buyer - even if inside the house is gorgeous. A little elbow grease out front is always well worth the effort. Weed, edge, paint, and repair to help create a positive start to your showings.

7.) INFORMATION: Make sure information on the house is readily available to people during showings. If they like the house, a nice feature sheet will give them something tangible to discuss later and keeps them closer to the good feeling they had for the home. Also make sure Realtors have all the background info they can use - carrying costs, taxes, maintenance records, etc. A speedy answer can prevent a tough question from lingering in a buyer's mind. Information pamphlets on the outside for passersby and neighbours can also help bring people in to see what's on offer.

8.) APPLIANCES: Particularly if you have a house appealing to first time buyers – leave them in! Appliances being purchased on top of the home buyer’s financing for the house will most often come right off the deposit. A lower deposit can, in turn, increase CMHC costs, possibly mortgage rates and just add to what’s already an expensive process. Suddenly an extra $5,000 is playing as though it’s an extra $20,000. With few exceptions, you will lose more on the value of your house than the appliances are worth.

9.) LOCAL REALTOR: If a real estate sales professional isn’t good enough to compete in their own local market… why would you think they’d do a better job for you in a market they know much less about? Local Realtors will be up-to-date on issues affecting local market conditions for better and worse. They will also have established local marketing and attract buyers to their web site looking in your local area. Local is always the way to go.

10.) PRICE COMPETITIVELY: A buyer in a buyer’s market is well aware of what your house is worth – even if your home is priceless to you. And, even in a buyer’s market, a correctly priced home will sell quickly and for close to asking. Just because you ask more doesn’t mean a buyer will go higher. Buyers perceive value based on comparably sold properties – not what you’re asking. If you’re way overpriced, more than likely an interested buyer won’t even attempt an offer, opting instead for the easier negotiations of a house priced closer to what it’s worth.