Davidbrandreth's Durham Real Estate

April still running strong

David Brandreth — Mon, 26 Apr 2010 17:47:26 +0000

DURHAM REGION April 20, 2010 – The Durham Region Association of
REALTORS® (DRAR) reported 503 sales in the first half of April 2010, an
increase of 33% from the 378 sales reported mid-month in April ’09. Year-to-date
sales are up a whopping 53% to 2,912 compared to 1,903 sales during the same
term in 2009.
“The average selling price for single family homes has also experienced a sharp
increase over the prior year” Dierdre Mullen, President of the Durham Region
Association of REALTORS noted. “With an April 2010 mid-month total of
$303,945, that is 11% higher than the $273,480 reported mid-month for April
2009. However, the expectation is that the average price will soon stabilize as
more new listings continue to be added to the market to match the demand.”

Many ways to cut energy costs…….

David Brandreth — Tue, 20 Apr 2010 13:33:14 +0000

April 16, 2010 — If there is one thing on which all homeowners can agree, it’s that there’s always something to do around the house.

If during these remaining weeks of winter you’re developing a list of improvements to get underway this spring, be sure to include energy efficiency enhancements, which contribute to your home’s overall value while also reducing your energy costs.

If you have an older home, renovations such as new windows, extra insulation or an Energy Star rated furnace can sizably diminish your energy costs. You can even qualify for government rebates to help you through the process.

There are a number of minor changes you can also undertake to make a big difference to your monthly energy bills. It’s estimated for example, that you can save two per cent on your heating bill for every degree that you lower your thermostat. Replacing your old thermostat with an Energy Star programmable unit that automatically adjusts while you’re asleep or away is therefore, well worth the cost.

Consider that adding a little caulking and weather stripping around doors and windows can also have a positive cumulative effect. If you have a traditional fireplace be sure to close the damper or preferably, have a natural gas insert installed so that warm air isn’t needlessly drawn out of your home.

Even your approach to landscaping can affect your heating and cooling bills. Situate deciduous trees on the south and west sides of your property to offer shade in summer and coniferous trees on the north and east perimeter to provide a wind barrier in winter.

Similarly, consider opening window coverings to allow the sun to warm a room and close them at night to help insulate it.

Simple swaps like CFL bulbs or low flow showerheads and toilets will also contribute to your home’s energy efficiency and often come with added money saving rebates. A tankless water heater can save you up to $100 year as well, by only providing the hot water that is needed rather than maintaining it in a cylinder.

Where electronics are concerned, shut off energy usage completely by unplugging them and with respect to appliances, replace them where possible with Energy Star rated units. Refrigerators for example, comprise 11 per cent of a home’s energy consumption and today’s units use 50 per cent less energy than those made 10 years ago.

Look for self-cleaning ovens because their added insulation means greater efficiency. Use a microwave or toaster oven for smaller meals.

Choose front-loading washers, which use 40 per cent less water and 50 per cent less energy than top loading models. Select a dryer with a sensor that automatically turns the machine off when clothes are dry. Most importantly, keep all of your appliances clean and fully loaded for maximum efficiency.

Contributing to a better tomorrow doesn’t have to require a large investment. To learn about features that are in demand in today’s housing market, talk to a Greater Toronto REALTOR® and visit www.TorontoRealEstateBoard.com for full details on government programs that are available to help your home function at its best.

What is CHMC mortgage loan insurance?

David Brandreth — Mon, 19 Apr 2010 14:43:23 +0000

Mortgage loan insurance is typically required by lenders when homebuyers make a down payment of less than 20% of the purchase price. Mortgage loan insurance helps protects lenders against mortgage default, and enables consumers to purchase homes with a minimum down payment of 5% — with interest rates comparable to those with a 20% down payment.

To obtain mortgage loan insurance, lenders pay an insurance premium. Typically, your lender will pass this cost on to you. The premium payable is based on a percentage of the home’s purchase price that is financed by a mortgage. The premium can be paid in a single lump sum or it can be added to your mortgage and included in your monthly payments.

Mortgage loan insurance is not to be confused with mortgage life insurance which guarantees that your remaining mortgage at the time of your death will not be a burden to your estate.

New mortgage rules effective today…

David Brandreth — Mon, 19 Apr 2010 14:40:44 +0000

1. All borrowers must meet the standards for a five-year fixed rate mortgage. This means that you can still choose a mortgage with a lower interest rate and shorter term, but must be pre-approved at the five-year fixed rate. (For some, it may be a little harder to qualify).
2. The maximum amount that can be withdrawn from your mortgage for refinancing, will now be reduced to 90%, from the previous 95%, of the value of your home.
3. Non-owner occupied properties (investment properties) will require a minimum down payment of 20%.
These are all the changes that will now be in effect.

There were no changes otherwise i.e. down payment requirements or length of amortizations for owner occupied residences

MLS sold statistics for Oshawa as of October 23rd 2009

David Brandreth — Sat, 24 Oct 2009 20:45:10 +0000

Property Type	Active	Sales	Avg $	Med $	Min $	Max $
Att/Row/Twnhouse	10	4 58	$200,250 $183,007	$199,000 $184,500	$170,000 $69,000	$233,000 $256,000	Month Year
Co-op Apt	0	0 0	- -	- -	- -	- -	Month Year
Condo Apt	22	6 56	$148,167 $167,621	$149,500 $165,000	$85,000 $68,000	$195,000 $295,000	Month Year
Condo Townhouse	41	14 125	$135,421 $124,572	$137,250 $125,000	$85,000 $1,100	$213,000 $213,000	Month Year
Det Condo	0	0 0	- -	- -	- -	- -	Month Year
Detached	361	111 1,362	$236,357 $239,356	$235,000 $230,000	$102,000 $55,000	$502,000 $635,000	Month Year
Link	8	6 47	$201,583 $196,776	$199,750 $195,000	$175,000 $147,000	$230,500 $248,000	Month Year
Semi-Detached	48	21 230	$171,781 $169,540	$170,900 $172,000	$109,900 $94,995	$219,000 $235,000	Month Year
District Total:	490	162 1,878	Month Year

Courtesy of toronto real estate board
http://www.davidsproperties.com/

Best Selling September On Record – September Statistics

David Brandreth — Wed, 14 Oct 2009 03:21:47 +0000

DURHAM REGION OCTOBER 7, 2009 –The Durham Region Association of REALTORS® (DRAR) reported 825 sales in September 2009, down .5% from August 09’s 875, but up 9% from the 752 recorded in September ‘08’.

Average selling prices were up 1.4% ($282,308) in September, from August’s $278,400, and up 5.5% from the $267,478 reported in September ‘08’.

“Durham’s fall market is starting stronger than ever,” said Debbie Dawson, 2009 DRAR President. “With the reported 825 sales this September, it is the best selling September on record!”

Total active listings are down 36% (1920) from September 08’s 2989, and up 2.9% from last months 1865.

“This year’s real estate market has been a rollercoaster ride,” commented Dawson. “With a weakened economy Durham’s first quarter started off rocky. Government incentives kicked the second quarter into gear and into a buyers market. Now with listings well below the same time last year the market has spun into a sellers market. In the first quarter we never would’ve anticipated setting any records, but with both June and September in the record books, the first quarter pessimism has come and gone with the changing of seasons.”

Home owner primer, Do you know the basics?

David Brandreth — Wed, 07 Oct 2009 20:38:53 +0000

New homeowners often find there’s more to keeping up a house than cutting the grass and clearing snow from the driveway.

Tools
To start with, a new homeowner needs to have on hand a ‘basic tool kit’. A number of basic tools are a must C a metal hammer, screwdrivers with a variety of heads, a small saw, electric drill, adjustable wrench, pliers and measuring stick. Sandpaper and an assortment of screws and nails are also very handy. These tools will help with simple repairs such as securing loose tiles, adjusting a door, installing a lock, etc.

Meters
Once you’re equipped to perform the most basic repairs, take a look around. Do you know where your gas/electricity and water meter are located? Usually these are found outside the home by a side or back wall. This makes it easy for the meter reader who can take the readings without bothering you. Sometimes these meters, especially the water meters in older homes, are located indoors — usually in the basement.

As new homeowners, it’s a good idea to check your meters on a weekly or monthly basis. This will help you gain an understanding of seasonal increases and decreases in consumption and enable you to take measures to become more energy/water efficient.

Plumbing
Another area where a little knowledge can go a long way is in the plumbing system. House plumbing is divided into two separate parts. One is the fresh-water system that provides cold and hot water from the various fixtures throughout the house; the other is the drainage system that carries waste out of the house.

The fresh-water system can be completely shut down by closing the main valve, which is usually located in the basement near where the underground water line enters the house. Most lines that branch out from the main line also have individual shut-off valves so water can be turned off to one area without disturbing the flow in another. Most plumbing jobs require at least the partial shut-off of your home’s water supply.

Meanwhile, the drainage system connects all the plumbing fixtures to a main sewer line that carries waste out of the house to a sewer or septic tank. The main sewer line extends above the roof of the house to allow gases to escape. The opening of this pipe, above the roof, is called a vent and must never be covered or allowed to become clogged with debris.

Electrical
Knowledge of your home’s electrical system is also valuable in case you have to turn off all power in case of an emergency, such as a fire. You should know the location of the main electric switch in the house and how to use it. You should also know the location of the fuse box or circuit breaker and how to reset a breaker or replace a fuse in case one blows.

The main switch, along with the circuit breaker panel or fuse box, are located near the electric meter at a point close to where the power lines come into the house. They may be in the basement, utility room, or even the kitchen. The older the home, the more likely it will have a fuse box instead of a circuit breaker panel. Always replace fuses with ones of the same capacity.

Heating
Another important aspect of your new home is its heating system. The more familiar you are with it, the less likely you might find yourself cold on a winter’s day. Heating systems are usually fueled by oil, gas, electricity or wood.

Gas-fired and oil-fired heating systems have burners and should be inspected regularly, usually once a year before the start of the heating season. Gas burners have pilot lights. You should learn to re-light the pilot light on your gas burner in case it ever goes out. You should also know the location of the gas shut-off valve so you can turn off the gas in case the burner doesn’t light or you smell gas escaping.

Heating systems operate in a variety of ways. The better you understand your system, the safer and more efficient you can make it.

Hazards
Fire in a home is a major hazard that all new homeowners should be aware of. Early detection is the key to protecting your family and keeping damage to a minimum. Ensure your home has smoke detectors installed in hallways and bedroom areas. Smoke detectors sound an alarm when smoke is in nearby air, even if there is no intense heat. Ideally, you should have a smoke alarm in each bedroom.

If you have a gas-fired heating system or a fireplace in your home, it’s also a good idea to install carbon monoxide detectors in the bedroom areas. Carbon monoxide is a colorless, odorless, tasteless toxic gas that, at high levels, can cause flu-like symptoms and even death.

While carbon monoxide detectors are not a substitute for proper care and maintenance of your home, they provide a good second line of defense by sounding an alarm when carbon monoxide reaches an unsafe level.

When we purchase a home, most of us want to turn it into a safe and secure haven for our families. The more we know about the home we have purchased, the more efficient and effective we can be.

“source Ontario realestate Association”

Bank of Canada keeps rate

David Brandreth — Mon, 21 Sep 2009 02:22:33 +0000

The Bank of Canada held its benchmark overnight lending rate steady at 0.25 per cent at its setting on September 10th, 2009. The trend-setting Bank rate, which is set 0.25 percentage points above the overnight lending rate, remains at 0.5 per cent.

As of July 21st, the advertised five-year conventional mortgage rate stood at 5.85 per cent. This is down 1.3 per cent from one year earlier, but has risen 0.4 per cent from where it stood when the Bank made its previous interest rate announcement on June 4th.

Winterize your furnace?

David Brandreth — Mon, 21 Sep 2009 02:00:00 +0000

With winter just around the corner, now is the time to give your home a winterizing “check-up.” Here are a few important steps you’ll need to make to ensure your home is ready for those cold north winds.

1. Have your heating system cleaned and tuned by a qualified contractor. A pre-season tune-up and filter change is a good investment. It reduces the chances of breakdowns in the middle of winter, improves safety, and pays for itself through more energy efficient operation.

2. Have your system checked for carbon monoxide. A good contractor will also offer to test your system for hazardous carbon monoxide, which can be produced by a dirty or malfunctioning gas or oil furnace or water heater. Install a low level carbon monoxide alarm close to sleeping areas, every home should have at least one carbon monoxide alarm.

3. Consider replacing your old furnace or heat pump. Just like a car, heating equipment doesn’t last forever. If your system is more than 12 year- old, and you are planning to stay in your home more than a few years, many authorities recommend considering replacing it before it fails permanently. A new system is safer, more dependable, and can pay for itself through energy savings, as it is up to twice as energy efficient. For more details on how to eliminate dangerous indoor air pollutants visit