Houses formerly used as meth labs, called meth houses, put their residents at risk of serious health consequences. Upon moving into a meth house, people have experienced short-term health problems ranging from migraines and respiratory difficulties to skin irritation and burns. Long-term problems may cause cancer in humans. And because children have small, developing bodies and a tendency to play on the ground and put things in their mouths, they are especially susceptible to adverse health effects from meth toxins. The chemicals used in methamphetamine production are highly toxic and range from pseudoephedrine—the main ingredient in meth and the active ingredient in decongestants—to any one of 32 other precursor chemicals. These include acetone, the active ingredient in nail polish rem... 02/04/2015

Most Sellers I encounter have no idea how the Selling Commission is allocated, and what it actually covers. Here is a short video synopsis explaining how commission is structured, who get what, and how it is allocated.                 Here is an excerpt from my booklet… A Real Estate Guide for Sellers .... where I explain to clients how the commission structure works.   How Commission Is Allocated … and What It Covers   Real Estate professionals are independent business people who must pay fees to their broker, to their boards, and must cover ALL of their business expenses before they acquire net earnings. Most professionals receive an hourly fee for services as the work is done, but real estate agents are paidONLY when have successfully completed a transaction. All work leading up to t... 02/03/2015

A reverse mortgage is a loan that is designed for homeowners 55 years of age and older. A reverse mortgage is secured by the equity in the home, which is the portion of the home’s value that is debt-free. It allows homeowners to obtain cash, without having to sell their home. Not all lenders offer reverse mortgages. Unlike an ordinary mortgage, you don’t have to make any regular or lump sum payments on a reverse mortgage. Instead, the interest on your reverse mortgage accumulates, and the equity that you have in your home decreases with time. If you sell your house or your home is no longer your principal residence, you must repay the loan and any interest that has accumulated. The loan amount can be up to 50 percent of the current value of your house. However, you must pay off any outs... 02/03/2015

The OREA Seller Property Information Statement (SPIS) asks questions about the condition of the home. It states that the answers are being provided for information purposes only and are not warranties. It also warns that sellers are responsible for the accuracy of all answers. 
The use of Disclosure Statements is mandatory in some places, but in Ontario, and elsewhere in Canada, they are voluntary although strongly recommended by real estate agents. The questions in the SPIS may require complex answers and many lay people may not understand the questions. It is arguable the SPIS asks sellers to disclose more than they are required to do by the law. A problem with the forms for Real Estate Agents is that if the seller gets sued, then the agent may be joined in the action for their role i... 02/02/2015

The market remains brisk in the Mississauga and Greater Toronto area due to a lack of inventory… not enough houses on the market right now. That along with the exceptionally low interest rates, makes it a Seller’s market right now… too many Buyers.. not enough listings. Great situation for Sellers but if you are a not selling a property and are a first time home buyer, you must be careful not to overpay on a home you are submitting an offer for. I have had many buyers who refuse to even participate when this occurs, but they could be missing out on an opportunity to buy the home they want. Just because there are multiple offers doesn’t mean you have to over spend…I counsel my Buyers to put forth their best offer that falls within their budget and comfort level. Since the other offers re... 02/02/2015

You should always know the risks and rewards of flipping a property. It is a riskier type of investment and the rewards can be great if everything goes according to plan, or it can become a horrible mistake if the plan goes south. Here are some things to consider. Advantages 1. Quick Profit The main reason people enter into a real estate flip is with the hope of making money quickly. If done correctly, a real estate flip can provide very large profits. These returns can be achieved in a very short period of time. 2. Gain Experience Through repairing, renovating or remodeling a property, you will gain insight into aspects of construction. You will start to understand the costs of materials and various plumbing and electrical repairs. You will learn how to spot big issues such as structur... 02/01/2015

The most perfect scenario would be to sell your current property at exactly the same time as buying your next one. Unfortunately, this rarely happens. There are people out there who could afford to pay two mortgages. However, the majority of us would be a little worried about having to do so. Therefore, most of us have to choose either one option or the other. So then the question is should I buy first or sell first? In general, selling first will most likely put you under time pressure to buy another house in a really short time. You may end up settling for less than you want or overpaying for your new house or you might even have to look for a place to stay until you can find a new home. If you decide to buy first, and then you can’t sell your current house, there is a possibility of ... 01/29/2015

A mortgage is one of the largest expenses a consumer will ever take on in their lives. That monthly payment eats a very large part of most people’s monthly budget. Imagine the options that would open up to you if that payment disappeared. You can use strategies to accelerate your mortgage payments for paying off your mortgage early. Most financially successful people have figured this out and do everything they can to destroy this expense. This is non-deductible debt, the type of debt we all need to reduce and eliminate if we want long-term financial success. Below is a list of mortgage reduction strategies tips you can use to help remove that mortgage at a reasonable pace. 1). Never get an open mortgage at a fixed rate unless you plan on paying it off within its term. Today’s closed mo... 01/28/2015

The matrimonial home is a family law concept. The term and laws governing matrimonial homes vary from province to province. The matrimonial home is deemed as part of the assets that make up “matrimonial property,” or “family assets.” My article is intended to enlighten Canadian couples and families about the concept of the matrimonial home, some insights on the Canadian Matrimonial Property Law and points regarding exclusive possession of the matrimonial home. The use of a residence by the spouses or their children creates matrimonial home status. This status restricts the owner’s power to deal with the property. The owner of a matrimonial homeowner cannot sell or mortgage it without the permission of the other half even if that other spouse has no ownership rights to the property. Matr... 01/27/2015

Have you ever wondered why you need title insurance? Your home may be new to you, but every property has a history. A thorough title search can help uncover any title defects tied to your property. And, subject to the terms of the policy, your title insurance provides protection for you from title problems that may become known after you close your transaction. Here is a list of the top 10 common title problems. 1. Errors in public records: To err is human, but when it affects your home ownership rights, those mistakes can be devastating. Clerical or filing errors could affect the deed or survey of your property and cause undo financial strain in order to resolve them. 2. Unknown liens: Prior owners of your property may not have been meticulous bookkeepers – or bill payers. And even tho... 01/26/2015

Here is an interesting article that was written by Susan Smith of the National Post. It outlines the pitfalls when it comes to mortgage financing for cottages. A very interesting read for those interested in the acquisition of cottage properties. No furnace? No foundation? When it comes to buying a cottage, that could mean no financing. City dwellers are beginning to think of ducks and docks as a respite from concrete and congestion. But unless you have the cash on hand, it’s important to understand mortgage options before you start looking for your slice of paradise. “We like to make sure clients are fully educated so they’re not wasting their time,” says Jeremy Ridley, a Barrie, Ont.-based senior residential mortgage specialist at RBC Royal Bank. “Also that they don’t fall in love wit... 01/25/2015

Many people want to move these days, but aren’t sure if it’s the right time to sell a Mississauga home. Is it the right time for you and your family? There are definitely a few factors that determine when it is the right time to sell your home. First, it’s important to understand that it can be a tough market out there these days. Mortgage companies have tightened their purse strings and many buyers are having to wait to look for a new home. That can undoubtedly impact how easily you are able to sell your home. Does that mean no one is buying? Absolutely not! Good real estate agents are in contact with people who want to buy a home every day. The buyers are out there — and it’s more important than ever before to know how to attract them. With that out of the way, you need to decide if t... 01/22/2015

Compromise is key to a successful relationship. But that doesn’t mean it’s easy, especially when it comes to buying a home with your spouse or partner. How do you strike a balance between each person’s needs and wants? To begin with, start with a plan. Have an honest conversation about what each person wants and needs: Detached or townhome? New build or old? What neighborhood? How much of a down payment? Work through these questions and put together a list of what you must have, and what your deal breakers are. Look through home magazines together and watch real estate shows. Knowing each other’s taste will help during the search. But keep the focus on the way your home should function rather than room color. Changing these are easy; adding a bathroom is more difficult and costly. Nail ... 01/21/2015

Home ownership and estate planning – the two go together. For most people their home is their largest asset. But many homeowners have not adequately protected this asset by taking the time to prepare a will. Preparing a will is one of those things they will “get to” sometime. The only problem is that “sometime” may be too late. You may be at the wrong place at the wrong time or have some unexpected health event that leaves you mentally incapacitated and therefore unable to prepare a will. Under new legislation anyone 16 years of age or older can make a will. So why should you have a will, regardless of age? 1. If you do not have a will, government legislation determines how your estate is distributed. In many instances this is not how you would like to see your assets distributed. One o... 01/20/2015

You found the investment opportunity you have been looking for. Your offer has now been accepted and you are eager to waive the financing condition. You have submitted a financing application through your lending advisor or directly to the lender and are anxiously waiting to hear back. Declined! Not the answer you were hoping to hear. Here are the top common reasons for why your mortgage financing was denied. It is important to recognize that not all lenders are equal. Lenders differ in terms of: 1. The geographic focus of where they lend. Some lenders are not willing to lend in cities or towns where property value fluctuates or the local economic fundamentals are weak (i.e. lack of job growth, infrastructure expansion). 2. The property types they lend against. Some lenders for example ... 01/19/2015

It’s tough being a buyer in today’s real estate market. There are few houses for sale and to make matters worse, assuming the property is well priced, you may have multiple offers and bully offers to contend with. Every day buyers and their agents have to be on alert and ready to act or someone else may snatch the property even before you get a chance to see it. With so much demand and so little supply putting upward pressure on prices, how to survive in a seller’s market? Do you throw your hands up in the air and give up or do you try to take control? Is this even possible? The good news is that it is possible more often than you think. There are mistakes buyers make which make the process of buying a house more expensive and more painful in a seller’s market brought on by buyers thems... 01/18/2015

Selling your home is one of the most important financial decisions you will make... and it involves more than hiring a competent agent, putting a sign on your front lawn and listing it on the MLS system. You should take an active role when your home is on the market and here are just a few ways you can participate in getting your home sold faster, and for top dollar! Your participation will pay off in dividends...                               Remember, when you buy a home with my partner, Chad McMahon and me.. you're not just buying a home..you're investing in a lifestyle...the lifestyle that suits your needs.. 01/17/2015

WHO DOES THE BUYER REPRESENTATION AGREEMENT BENEFIT THE MOST?    The words "Client" and "Customer" seem pretty clear cut, but in real estate they mean completely different things. Here is a short video synopsis of who it benefits most…then read below for a more detailed analysis.. You will clearly see the difference and know what your options are.   There is also a distinct difference in how seriously you are taken as a Buyer.  These two words and how they relate to the Realtor® as individuals make an important difference in the type and level of service you receive.  Please take a few minutes to read,  and after reading you will fully understand what the major difference is, you will know then which one you want to be. When listing your home for sale with a Realtor® you are required to... 01/15/2015

If a resale home isn’t what you are looking for and you don’t feel like buying a new home, then here are a few things to think about before having a home built. When you want to find a reputable builder, first decide on the region, area or neighbourhood where you want to live. Then visit local show homes to find builders offering the size, price range and quality you are looking for. Or identify custom built homes you like and find out who produced them. Don’t be afraid to knock on someone’s door and ask “Who built your home?” – most people will be flattered.If you want custom building or special features, choose a builder who stresses those aspects. Your best bet is a builder who produces what you want on a regular basis. Look for a proven track record in the style, size and quality yo... 01/15/2015

MY INTERVIEW WITH “THAT INTERVIEW GUY,” MICHAEL KRISA In November, 2011 (I was 67 years old then) I was approached by an innovative realtor and video blog expert to talk with him about how real estate has evolved over the years.  Since 1987 when I became a locenced realtor i have seen it change in so many ways.  There were no computers or Internet, offers we're typed on an electric typewriter with 6 carbons!!  There was no online access to MLS or your local real estate board. We were provided a book that was published weekly with a small black and white photo of the property and short one or two sentence description.  We have evolved to the point of almost going paperless with an iPad and things are so much easier with the elecronic innovations throughout the years.  The tools we have t... 01/14/2015