Property Tax Assessment Appeals

Recently homeowners in Toronto have received their property tax assessments in the mail and I have been asked for advice on what they can do if they feel the assessment is not an accurate reflection of the value of their home. You can appeal the assessment, and I myself have had success in lowering my property taxes by doing so. This may not be the case for everyone, but it might be something you are interested in pursuing nonetheless.

Metropolitan Property Tax Consultants (416-482-3000) are one of the companies in Toronto that provide such a service. They will charge you half of the amount of the savings on your property taxes, and in the case that there are no savings, there is no charge.

By lowering your property taxes you may not only save yourself money, but also increase the appeal of a property you have listed or are thinking of listing.

Going Green - Making Your Home Environmentally Friendly

In this day in age with increasing advances in technology and higher standards of living, everything seems to be at our disposal. However, we have and continue to take the earth for granted.

There are varied opinions on what effect global warming will have on the earth in the future but It is there are steps that we can take to rectify this situation. Aside from buying a hybrid car it’s the small choices that can prove to be most beneficial.

Make your home energy efficient - by installing florescent blubs (these cost more than the average blub but last longer). When buying appliances, choose the ones that have the energy star symbol on them and in some jurisdictions, the city will offer up to a $100 rebate on the product you buy. Unplug unused appliances – even though the appliance maybe turn off it is still draining energy.

Change your windows- on newer homes this isn’t necessary but changing your windows in an older home will allow for better insulation of the home and hence better air circulation for heat or air conditioning.

Switch to unsustainable flooring – if you’re thinking of changing your flooring think about making the switch to unsustainable flooring. This type of flooring is made of natural materials such cork or bamboo and acts as a insulator for the floor because it retains the heat (great for those cold winter mornings).

Low flow faucets – come in a variety of styles that fit the theme of your bathrooms or kitchen and best of all you are conserving on your water consumption.

Keep recycling - there is a website www.greenhome.com where you can find a variety of earth friendly products. From cleaning products to bedding to personal care product this site allows you to shop from the comfort of your home all while making your contribution to saving our earth.

Top 4 Features to look for in a Neighbourhood

Now that you’re in the market for buying a home, you may or may not have decided what type of neighbourhood you would like to live in. Choosing a neighbourhood is not just simply choosing a “nice area” based on a location that you prefer but buyers should also be looking for neighbourhoods with sustainable features when purchasing their home.

The Canada Home and Mortgage Corporation defines sustainable features as “an area that meets your needs while protecting the environment and leaving an affordable legacy.”[1] These types of features in an area can help to improve the quality of life as well as being a safe and pleasant place to live. These neighbourhoods can also include the following.

1. They provide close, convenient access to amenities such as work, schools, shopping, etc...This allows for people who are in these neighbourhoods to spend less time in cars driving and more time either commuting by public transportation or walking. This is a two pronged benefit because you are not only lowering the emissions levels being sent out into our environment, but also taking the time to invest in your health by walking or biking wherever possible.

2. They offer a variety of house types that give you the option of establishing a foundation within a neighbourhood that allows you to build roots, but also being an area that is able to move through life’s changes with you. For instance, you can find a neighbourhood that will allow you to purchase a home that you can start a family in. Then, as your family changes you can still stay within that same neighbourhood and find a home that best suits your changing needs.

3. They provide a safe and friendly atmosphere. No one wants to be stuck in a neighbourhood where they do not feel comfortable walking to the store. If you are going to build roots in this neighbourhood you want it to be somewhere that you will enjoy being.

4. It offers the best value for your dollar not just within the physical property but this refers back to the neighbourhood being easily accessible. Nowadays, most families have two cars for their household. However, if you are able to get around without the use of a second car then this cuts back on your costs for fuel and maintenance for two cars and therefore giving you a higher ROI.

As advantageous as sustainable features are, this option for choosing a neighbourhood is not for everyone. It isn’t advisable to look for a neighbourhood with these features if you are a home buyer who doesn’t want a smaller home to maintain or if you don’t mind commuting in traffic. However, with the benefits of sustainable features why wouldn’t you incorporate this into your home search?

You can find a list of Canadian cities that offer neighbourhoods with these important features at http://www.cmhc-schl.gc.ca/en/index.html.

[1] Thinking of Moving to A Different Home – www.chmc-schl.gc.ca/en/index.html

A night of Celebration

In 1983, Elli Davis took a chance and left teaching and became a Real Estate agent. Elli had a flair for the field and it showed with her first sale occurring three weeks after receiving her Realtor’s license. For Elli it has been her passion ever since.

Fast forward to April 10th 2008, where over 400 guests gathered to pay tribute to Elli’s 25 year career. The venue was the Round Room of The Carlu,a Landmark in downtown Toronto where guests mingled while enjoying a variety exquisite foods and desserts throughout the evening. The room was elegantly decorated and the atmosphere was infused with sounds of chic music as guests were entertained by Brian Master Productions.

Highlights of the night included a speech from Gino Romanese – Senior Vice President of Royal LePage. Mr. Romanese gave statistics on Royal LePage and Elli’s contribution to the company and the Real Estate profession. Pamela Kempthorne – Director of the Royal LePage Shelter Foundation was also at the event to speak about Elli’s generous donation of a play set to Interval House, which is one of the shelters supported by the foundation. Royal LePage Shelter Foundation is proud to partner with local women’s shelters to help make a difference in the lives of women and children who have been affected by violence.

The night was enjoyed by all who attended as they celebrated and reminisced on Elli’s career. One partygoer reflected on the time when Elli sold his home; “so it was 10 am and she rings my door bell on Hazelton, I come down the stairs with bed head and little dazed, I open the door and I hear “Michael, you’ve got to move out of your house I sold it… Ah, the good old days.”

Another guest was quoted as saying “wasn’t that a great tribute to her and her career?” Not only was it a night of celebration but truly a night to remember for Elli and all those who were fortunate to be a part of it.

Congratulations Elli! Check out video footage from the party here:

http://www.brightcove.tv/title.jsp?title=1511107483

When to Sell Your Property??

Is now a good time to sell your property?

Thinking of selling your home but not sure if now is the “right time?” Talk to Elli Davis for sound advice on when to sell your home in the least amount of time for the best possible price.

First Elli will help you examine your reasons for wanting to sell. The most common reasons why people decide to sell their homes include changes to their financial status, an employment transfer, a growing family or retirement. Today’s low interest rates have also made it attractive for many homeowners to “move up” to a larger home.

Whatever your reason, selling a house is a complicated procedure so it’s imperative to have a qualified real estate professional on your side. Because selling a home involves large sums of money and complicated legal documents, Elli's expertise can help you avoid costly mistakes.

Real estate cycles-Buying your home was probably the best investment you ever made. That’s because over the long term, real estate has proven to be a sound investment while at the same time offering you and your family shelter and a feeling of pride of ownership.
However, real estate is subject to the law of supply and demand which creates cycles in the market. A shortage of homes generally means prices rise. This cycle is commonly known as a “seller’s market.” Alternately, a surplus of homes can result in a slow down in home sales or even a reduction in prices and is often referred to as a “buyers market.”

One of the most important services Elli Davis provides is market analysis. Most people don’t have the time it takes to conduct the comprehensive market research required to accurately price a home. Elli can give you up-to-date information on what economic and other factors are impacting current market conditions.

Which market is best?Obviously, you will want to sell your home quickly and for the highest possible price. In a “seller’s market,” you often see many buyers competing for the same house resulting in top prices -- sometimes even over the original list price. However, if you are planning to purchase another home after the sale, chances are you will be competing in the same seller’s market faced with higher prices.

In a buyer’s market you may find you have to wait longer to sell your home for a fair price. The upside to selling your home in a buyer’s market is you’ll have more selection and pricing options when you go looking for your new property.

Although the current market cycle should influence your decision to sell, remember there are trade-offs to selling in either a buyer’s or seller’s market. Some people are concerned that if they trade up to a larger home in a buyer’s market they will lose some of their home’s equity in the sale. But, while you may sell your home at a “discount,” it’s likely you will purchase your larger home at an even greater discount. The advantage is you then own a larger asset with even greater potential for appreciation.

Seasonality In Ontario, changing seasons and the weather can affect buyer demand. For example, fewer buyers may be out looking at homes during the cold and snowy winter months, but as a seller you will be competing with fewer homes on the market. Spring tends to be an attractive time for real estate sales as gardens start to look nice again and people come out of hibernation. Buyers with school-aged children like to purchase in the spring so they can move in over the summer. However, homes sell throughout the year so think of the season as only one factor in deciding when to sell your home.

There are many important issues that come into play when deciding to sell your home.Elli Davis can help you to determine if now is the best time for you!Call her today 416-921-1112/1-800-622-9536