ACCOMPLISHMENTS

• AWARD WINNER FOR 19 YEARS
• LICENSED REALTOR SINCE 1978
• MASTERS OF BUSINESS ADMINISTRATION- YORK UNIVERSITY

PERSONAL PHILOSOPHY

• ETHICAL/ STRAIGHT FORWARD/ RESULTS ORIENTED
• REGULAR FEEDBACK AT EACH STAGE OF THE PROCESS
• PROVIDE THE FACTS- AN INFORMED CLIENT IS MY SALES PARTNER

EXPERIENCED IN…

• CORPORATE RELOCATIONS
• POWER OF ATTORNEY
• ESTATE SALES
• VACANT LAND
• POWER OF SALES
• TENANTED PROPERTIES
• PROPERTY MANAGEMENT
• CONDOMINUMS



BRIAN BAIRD M.B.A
SALES REPRESENTATIVE
HM OFF: (905) 840-4658
EMAIL: bbaird@trebnet.com
WEB SITE: bbaird.com

       I WILL PROTECT YOUR INTERESTS

Ontario residential activity in April is running stronger than predicted. The Canada Mortgage and Housing Corporation (CMHC) reported 95,400 residential housing starts across Ontario’s urban centres, up from 85,000 units in March. A significant growth was noted in the areas outside of the GTA.
Ontario housing starts for April are running 30 per cent above the starts seen a year ago. The growth is mainly credited to the increase in multi-family home construction with a more moderate increase in detached construction.
Nationally, a booming condominium market pushed housing starts to 244,900 units in April, which is 40,000 units over what economists expected. Most of the gains are coming from the multiple-unit construction. 

FEBRUARY ECONOMIC UPDATE

Canadian industry level GDP for February contracted by 0.2% - a weak

reading on both an absolute basis and relative to the consensus estimate of a

0.2% expansion. The poor data spurred a strong rally in Canadian bonds, with

the curve steepening as 2s outperformed versus the belly and long-end. There

was a commensurate drop in money market rates, with 1-year OIS falling by

7-8 bps and a strong rally in BAXs. We had been looking for a print that was

slightly below consensus at 0.1%, and the weaker growth in February

suggests that Q1 GDP could print somewhere below 2.0% - well below the

Bank of Canada’s forecast of 2.5%. In our view this report substantially

reduces likelihood of an earlier tightening in monetary policy (prior to GDP, a

rate hike in July was priced as a 2 in 3 probability). We expect the Bank start

withdrawing stimulus in the fall, with the first hike likely to occur in September.

The poor Canadian GDP data was reinforced by a broader softening in risk

sentiment, as equities sold-off in the European session following news that

Spain had re-entered recession. The weaker market tone spilled into North

American trading, with Treasury yields modestly lower, along with oil and US

equities. The USD and JPY were amongst the best performing currencies on

a safehaven bid, while the CAD sold-off materially following the Canadian

GDP release.

The day’s US data was mixed with the Chicago PMI falling from 62.2 in March

to 56.2 in April, well below the consensus forecast of 60. While the weakness

was fairly broad-based across the various subcomponents, a sharp drop in the

production index (from 68.6 to 57.1) stands out at as the largest contributor to

the decline. This was the weakest print for the Chicago PMI since November

2009, though the news was not universally negative as the employment index

did manage a slight improvement.

The other major US release this morning was the personal consumption data

for March, which showed spending growth of 0.3% and a 0.4% increase in

personal income. Core PCE inflation was accelerated slightly to 0.2% m/m (inline

with expectations), while yearly core PCE inflation printed at 2.0% (also

in-line with expectations). The savings rate rose marginally, but still remains

very low at 3.8%. Later in the day the Federal Reserve released the April

edition of the Senior Loan Officer Survey (SLOS), which suggested that credit

conditions had eased modestly during the first quarter, with demand for

business loans picking up sharply. The one dour point in the survey was that

credit conditions for residential mortgage loans were marginally tighter, though

lenders did suggest that the demand mortgages grew during the quarter.

Tomorrow’s highlight will be the ISM-Manufacturing index for April. The

consensus estimate is for a slight deceleration in manufacturing activity, from

53.4 to 53.0, but the negative surprise on the Chicago PMI suggests a

downside risk relative to consensus (we are looking for a reading of 52.5). We

also receive data tomorrow on US construction spending for March, as well as

April’s vehicle sales totals. Looking further ahead, the focus for the week will

be the April non-farm payrolls number, with markets looking for a modest

rebound from the 120K new jobs added in March.

33 CENTRE ST. N BRAMPTON-$184,900.00

Prepared by BRIAN JOHN BAIRD, Salesperson IPRO REALTY LTD., BROKERAGE 30 Eglinton Ave W. #c12, Mississauga, ON L5R3E7 905-840-4658 (Direct Line & 24 Hr. Voice Mail)

Taxes: $2,464.65/2010

Legal Non-conforming Duplex (2 storey)

Rooms: 6

Bedrooms: 1+1 (2-1 bedroom apartments)

Dir/Cross St: Church & Centre

Washrooms: 2 (1x3 upper /1x4 basement)

Lot: 24X180 Feet Irreg: As Per Assessment

Occup: Tenant

Possession: Immed/Tba

Kitchens: 1 + 1

Basement: Part Fin. (1x4 washroom)

Heat: Electric Baseboard

CAC: N Central Vac: N

Laundry : facilities in basement

Drive: Mutual

Garage: None

Parking Spaces: 3

AREA INFLUENCES:

Arts Centre (ROSE THEATER)

Public Transit (ZUM BUSES 1 block)

Zoning: Legal Non Conforming Duplex

Water: Municipal Water Supply:

Sewers: yes

Garden Sheds

# Room Level Dimensions (m)

1 Kitchen Ground 3.75 x 3.06 W/O To Patio Eat-In Kitchen

2 Living Ground 3.57 x 3.38

3 Br Ground 3.55 x 2.95

4 Living 2nd 3.83 x 2.80 Laminate

5 Kitchen 2nd 3.43 x 2.00 Galley Kitchen

6 Br 2nd 2.86 x 2.58

Remarks : Legal Non Conforming Semi Detached Duplex

Deep Lot With Parking For 3 Cars,

Walking Distance To All Downtown Conviences Such As The Rose Theatre,Ymca, Gage Park, Farmers Market To Name A Few.

1 Block From Queen & Zum Bus Stop,

New Medical Complex Being Developed 2 Blks Away,

Several New Condo Towers Recently Completed.

Great Potential For Area Appreciation.

Shingles Replaced Approx. 2 Years Ago.

Extras:

2 Fridges, 2 Stoves, Building Recently Inspected By Esa And Approved. Currently Has Work Order Regisitered By Fire Services, Unit Can Be Converted Back To Single Family Residential Or Work Can Be Done Contact L/A For Details.

Remarks for Brokerages: Contact L/A For Details On Fire Dept. Requirements To Allow Legal Non Conforming Zoning To Continue. Tenant Willing To Stay.

Mortgage Comments: Clear

Toronto Real Estate Board (TREB) assumes no responsibility for the accuracy of any information shown. Copyright TREB 2011

Closing Costs -Big Part of Home Buying

Hidden costs seem to be an unpleasant fact in business these days and they apply to the real estate and mortgage industries as well.

The issue of hidden costs may be more critical for first-time home buyers because they’re generally green when it comes to matters of real estate. Also, they tend to have the bare minimum down for that first home, so costs that are hidden or extra may be even more overwhelming for them.

For example, on fixed-rate mortgages – the kind obtained by two-thirds of Canadians – there are “shocking” hidden costs to those who need to pay out their mortgage early, says independent Toronto mortgage planner David Larock. “You may be shocked when you see the penalty charged by your lender,” he says, “and even more so when you realize that you could have avoided most of that cost by simply choosing another lender offering the same interest rate.”

As it now stands, the major banks can get away with big penalties because they do not have to disclose their method of calculating mortgage penalties, says Larock. While these penalties – Larock says they are often double or more that of other lenders – don’t surprise him, it’s the customers, who assume the banks are giving them fair terms that do.

Sukkau recently experienced this “hidden cost” issue when listing the home of a young military couple in Niagara. A transfer prompted the need to sell their home and Sukkau hoped the bank might show clemency on the penalty given that the couple was moving to a military base in an effort to serve the country. That, however, didn’t happen. The couple had to pay the bank a $7,500 penalty and because they didn’t have enough equity in the house, the couple took their home off the market and decided instead to rent it out.

“It did adversely affect them,” says Sukkau of her clients. “It’s an excellent, but unfortunate, example of a hidden cost that home buyers wouldn’t be aware of. I think its something that will become more of an issue. We may see CREA (Canadian Real Estate Association) picking up on this as a lobbying item. The penalties are awfully high. When you think about it, is it a fair way to treat consumers?”

Closing or hidden costs vary depending on the price of the property, but are generally estimated to be 3 or 4 per cent of the purchase price. Expect to recommend that clients should earmark at least a few thousand dollars for these costs.

Here, thanks to CMHC, the Manitoba Real Estate Association and the Nova Scotia Association of Realtors, is a list of more unusual or lesser-known costs:

Mortgage application fee --Some lenders may charge a fee to process your mortgage application. However, with the highly competitive nature of the mortgage industry, many will waive the fee entirely, especially if you have other accounts with them.

Mortgage broker's fee -- If you use a mortgage broker to find you a lender, you may be charged a fee which is payable at the time of closing when the mortgage transaction is complete. In many cases, brokers are paid directly by the lenders, so you should ask the mortgage broker about who pays the fee.

Mortgage insurance -- If you have a high-ratio mortgage, the government requires that it be insured against default and that you pay the cost of insurance. The cost to you ranges from .51 to 2.90 per cent of the mortgage amount and is added to the mortgage principal.

Property and title insurance - Besides high-ratio mortgage insurance, mortgage lenders require your client to have property insurance in place. This insurance covers the cost of replacing the structure of your home and the premiums depend on the value of your home, according to CMHC. The lender may also recommend title insurance. For a home worth $500,000, the cost would be about $350

Appraisal fee -- While it’s beneficial to know how much any prospective house your client is looking at is worth in order to negotiate price, home appraisals are also used to protect the lender’s interests. It’s likely a lender will ask for a recognized appraisal in order to complete a mortgage. Usually, the cost of an appraisal ranges from $250 to $350. However, some lenders will pay for the appraisal fees to get the business.

Home inspection -- an independent look at the house and property can cost in the $350-500 range for most single-family homes. Home inspections are recommended to identify if there are any other potentially costly expenses – issues not visible to the naked eye – that may impact the costs and upkeep of the home.

Property survey -- always a good idea, but not always carried out. A land surveyor can make sure the buyer is getting the property they think they are buying. A surveyor can properly install property markers on the corners of the lot. With those, the buyer will precisely know the boundaries.

Water testing -- for properties not on a municipal water system, most - if not all - financing institutions require the water source to be tested to ensure it meets standards for human consumption. Some areas also have compounds in the water the prospective buyer may wish to know about.

Status certificate fee -- When making an offer to purchase a condominium, it’s a good idea to ensure an offer is conditional upon obtaining and having time to review an Status certificate. This fee (not applicable in Quebec) applies when buying a condominium or strata unit and could cost up to $100.

Land transfer tax -- Land transfer tax is specific to each province and is a percentage of the purchase price, usually 0.5%. However, provinces such as Alberta and Saskatchewan have no land transfer tax, while others offer a full or partial exemption for first-time buyers.

Legal Fees -- A lawyer will help protect your clients legal interests and negotiate the terms of any offers made. Legal costs will depend on the complexity of the transaction and the lawyer’s experience.

Prepaid property tax or utility bills -- If a closing date is mid month, a seller may have already prepaid taxes or utility bills. Buyers should be prepared to reimburse the seller for prepaid property tax and utility bills should they request it.

6 STEPS TO FINANCIAL PLANNING

These 6 steps are designed to help you get started on the road to financial security. By following the six steps, your journey will take you from where you are now to where you want to be for the future.

Setting goals and objectives is the first step of any financial planning process - if you do not know where you are going, how can you know when you get there, or even decide which route to take? Setting goals and objectives is the foundation of any sound financial plan.

No matter where you are heading, you need to assess where you are now, and what you already have in place for the journey. Data gathering and organizing will ensure that your personal documents are up-to-date and that you know your current financial situation.

Heading in a general direction won't guarantee success in reaching your final destination. Before heading out on your journey, do your analysis and find solutions. This strategy will assist you in reaching your stated goals and will provide you with a roadmap to help you achieve these goals.

Your financial plan should confirm that your goals are achievable, and appropriate recommendations will help define what you need to do to ensure that you reach these goals.

A financial plan is only helpful if the recommendations are put into action. Implementing strategies will assure you reach your destination.

Finally, follow-up and annual reviews are critical to ensuring you maintain a clear focus in order to succeed.

Setting Goals and Objectives

Give some thought to your financial goals. Some may be short-term in nature, others long-term. Assign each one a time frame and put them in order of importance to you. These goals are the building blocks to any sound financial plan.

Data Gathering

Begin by Organizing Your Financial Documents. Assess your current financial situation by completing a Net Worth Statement and a Cash Inflow/Outflow Worksheet.

Analysis And Solutions

Depending on the goals that you established in Step 1, you will need to perform some further analysis to define a roadmap to help you achieve your goals. This may include analyzing your retirement, education, debt or insurance needs.

For most Canadians, Retirement Planning is a major goal that requires considerable financial commitment. By completing a Retirement Contribution Calculator you can see where you are today and how much you need to save to meet your retirement goals.

With the costs of a typical four-year Canadian university undergraduate degree program currently estimated to be about $40,000 including room and board, and that figure rising, most parents consider Education Planning an important long-term financial goal, and a regular investment plan is an important part of this strategy. An RESP can help you save for this.

While you may not wish to drastically alter your lifestyle, a budget is important for planning purposes and to determine the availability of funds to set aside for savings. Debt Management is the ability to handle your current debt and whether one can assume further debt. Since most of us incur debt at some point in our lives, effective debt management is critical to a sound financial plan. Debt reduction often ranks as a primary financial goal, especially if it includes paying down a mortgage. The first step is to determine how much you currently owe. The second step will determine your Total Debt Service Ratio (TDS), which Financial Institutions use to measure your current debt situation in order to assess and approve your credit and loan applications.

Life can be unpredictable. Whatever your age and personal situation, make sure you have a plan in place to provide for your survivors. life Insurance should be considered.

Any goal, regardless of the amount, can best be served by applying a systematic approach to savings. Consider investing regular amounts to your plan during the year as opposed to attempting to come up with large amounts when it is required. Not only do you avoid the rush and pressure, but you take advantage of dollar-cost averaging.

Now that you have established goals and objectives, you will want to begin by implementing the recommendations that will ensure that you reach these goals.

Implementation

Once the preparatory work of analyzing, determining and calculating is finished, the most important step is implementing the recommendations to ensure your goals are reached. A well-diversified portfolio that will help you meet your goals by spreading risk, reducing volatility and enhancing the potential for solid long-term returns. No matter what the goal, a well-balanced portfolio, based on your individual investor profile is a requirement of any financial plan. A financial planner may assist you in either implementing the recommendations or in coordinating with other professionals.

Follow-up and Periodic Reviews

Finally, follow-up and annual reviews by both yourself and your financial planner are critical to ensuring your success. Your financial situation should be reassessed at least once a year to account for any changes in your life cycle or economic conditions. Achieving your goals and objectives are the ultimate measure of success in the 6 steps to a personal financial plan.

HOME INSPECTORS-LIMITED BUYER PROTECTION

The buyers entered into an agreement of purchase and sale conditional on a satisfactory report from a home inspector. The inspector gave the buyers a card that said, "Written reports performed to ASHI standards." He also presented the buyers with an authorization form, which they signed, stating that the report would be based on a visual inspection of the accessible features of the building. The inspector's report identified several problems, including electrical system problems, but noted that the concealed electrical components were not inspected.
The buyers bought the house, but major electrical problems were later found by a contractor they hired to do renovations. The buyers attempted to sue the inspector, alleging that he breached the standards required for a home inspection because he didn't complete the inspection in a competent manner and in accordance with standards set by the American Society of Home Inspectors (ASHI). The buyers incorrectly believed the inspector was a member of ASHI.The court does not stipulate whether ths inspector did perform to the ASHI standards as his card stated.(The court decision seems to indicate that he did.)

The buyers lost because the court decided that the usual home inspection was general in nature and done by visual inspection. The home inspector did report problems that he could identify visually and could not be held responsible for a problem that was not noticeable by visual inspection. Furthermore, the court found that the inspector did not misrepresent himself to the buyers because his card did not state he was an ASHI member.

If your buyer clients submit an offer conditional on a home inspection, you should advise them to:

1) Carefully read the home inspection contract
2) Ask questions about what the final report will and will not include ie.what are the limitations in terms of what an inspector will look at.(the furnace heat exchanger,pools and septic systems are other areas that may not covered by a general inspection.)
3) Find out what the inspector's qualifications are
4) Find out what standards will be followed. 5)Ask what recourse is provided if there is an error in the inspection.(Sometimes the contract states the inspector will refund up to the amount paid for the inspection.)

Home inspectors in Ontario:

Not licensed or controlled by a specific statutory law relating to home inspection.
The 1995 Ontario Home Inspectors Act allows home inspectors to be self-regulated and to set ethics and education standards.
Two organizations in Ontario: Ontario Association of Home Inspectors (OAHI) and Provincial Association of Certified Home Inspectors (PACHI) offer membership subject to professional and educational requirements. Members of OAHI may use the Registered Home Inspector, or "RHI", designation; members of PACHI may use the Certified Home Inspector or "CHI" designation.
Both OAHI and PACHI offer information to assist REALTORS® when buyers request a home inspection as a condition of sale.
The following websites offer more information on the standards set for home inspectors:

http://www.oahi.com/
http://www.ashi.com/
www.cahi.ca/
http://www.pachi.ca/

BOTTOM LINE -DO NOT CONSIDER A HOME INSPECTION TO BE A WARRANTY ON THE CURRENT AND/OR FUTURE CONDITION OF THE PROPERTY.

"CAVEAT EMPTOR" (LET THE BUYER BEWARE)IS STILL PART OF ANY REAL ESTATE TRANSACTION.