Just a Thought

79% of RAHB Realtors Don't Read

2011-12-06T09:08:00.000-08:00

That's right. 79% of my fellow realtors on RAHB do not take the time to read notices or news articles posted by our board.

These same individuals speak up on issues without knowledge. Scary thought. Are you one of the 21%, who take the time to learn about issues? If not, think about it. What kind of service are you providing if you remain ignorant of the facts and technology affecting us today.

Factory Real Estate or Boutique

2011-10-22T15:32:00.000-07:00

We've been having some discussions in a linked in discussion group, about factory real estate companies, i.e. those mega brokerages with 100 sales representatives or smaller brokerages, and where there is more control.
Brokers are where the buck stops. So the behavior of the sales representative, good or bad, is the broker's responsibility. The bad creates liability issues for the company, and a bad reputation. So, where there are so many sales representatives how can the broker stay on top of all? Bigger brokerages mean more volume so the brokerage is richer. However, potentially it is in a worse or poorer position because bad behaviors are difficult to see until a regulatory board rears its head in proceedings.
So, does that mean the smaller brokerage, with more focus on quality is better even though volume is less?

Thoughts anyone?

What makes a duplex, triplex, etc... legal? or lethal?

2011-08-10T07:48:00.000-07:00

Investors look for legal in order to avoid being shut down. But, what is legal?
Depends on the municipality you are buying in. The NDP Government of the 1990's passed a law superceding local by laws to allow for the creation of "granny flats". But when the Conservatives came to power in 2002 this law was repealed and the onus of the law regarding legality of use returned to the municipalities in Ontario.
So, if it looks like a bird, flies like a bird, is it a bird? Maybe not. Along with the zoning, you have to conform to the Retrofit Status, you need to look at the Hydro Certificate, and if it is legal non conforming, where is the proof? The bank will accept the zoning certificate, or proof by way of affidavits from previous owners to present to show that the use superceded current by laws.
It is important never to waive financing conditions until after the appraisal is done because if you cannot prove "legal" use, many financial institutions put a factor into place to return the structure to its full legal use which means that your down payment is 20% of the reduced value and you need the difference to be made up with additional cash. If you are buying cash in the first place, no problem other than the city may shut you down. But, if you are financing, this could be critical. NEVER waive conditions in a contract, until all the conditions in a mortgage commitment are met - ESPECIALLY the appraisal.

Mortgages - Are all Mortgages Equal

2011-07-26T12:33:00.000-07:00

One rate may seem better than the others but.....

1) what are your long term plans?
2) what are your prepayment priveleges?
3) what fees are associated with making changes, payments, etc... to your mortgage?

Do you know that your first five years of mortgage payments are almost exclusively interest? So, if you revise your mortgage in the sixth year, you start back from scratch and never get ahead.

We know how to help you - that is if you want to save money and pay equity faster.....

Raising Funds for Research

2011-06-08T07:53:00.000-07:00

What would our medical system be like if people with ms, parkinsons, alzheimers, neuropathies, cerebral palsy, spinal cord injuries, or festering wounds, could be made better?
I think that it would reduce wait times and open up beds in hospitals, and make the life of boomers so much better.
Dr. Michel Rathbone & Dr. Shucui Jang of McMaster University are doing just that. There are several animals out there that regenerate injured parts to their body. The Doctors goal is to help humans do the same thing.
I have personally seen their limited success with one particular individual, a young soldier shot in Afganistan. He was originally told his prognosis was quite bleak (he has a bullet in his neck, close to his spinal column). But with the Doctors therapies, he is now holding down a job, and participating in the para volleyball team.
If you are looking to donate to a great cause, here it is:

How to make a Donation to Dr. Rathbone's Spinal Cord
and Neuroscience Research

To make a donation to the research please make your cheque out to Dr. Rathbone's Neuroscience Research Fund, McMaster University and mail to:

Dr. Michel Rathbone
711 Concession St.,
70 Wing, Ground Floor , G23
Hamilton, Ontario L8V 1C3

We will ensure that you receive an official receipt for tax purposes from McMaster University. All donors will be acknowledged in our research publications.

I personally support their goals. As an individual with spinal degeneration, I have a personal interest in seeing their research succeed.