The Brazeau Team » Milton Ontario Real Estate – Royal LePage Meadowtowne Realty - uncategorized

By: The Brazeau Team  09-12-2011
Keywords: Real Estate, Resale Homes

November 1st, 2011

It’s Movember, the month formerly known as November, which is dedicated to growing moustaches and raising awareness and funds for men’s health. I have joined the movement and will be donating my upper lip to the cause for 30 days. My Mo will spark conversations, and no doubt generate some laughs; all in the name of raising vital awareness and funds prostate cancer.

Why am I so passionate about men’s health?
* On average men live 4-5 years less than women
* 1 in 7 men will be diagnosed with prostate cancer in their lifetime
* 25,500 men will be diagnosed with prostate cancer this year in Canada

Movember Canada, 119 Spadina Avenue, PO Box 65, Toronto, ON M5T 2T2

Thank you in advance for supporting my efforts to change the face of men’s health. All donations are tax deductible.

Joseph Brazeau

October 6th, 2011

Jennifer is a graduate of the University of Waterloo with a degree in Psychology and holds a Master of Divinity degree from McMaster University. Jennifer is joining us with a variety of work experience in Ministry settings, from Third World missions with women and children, to Hospital Chaplaincy, as well as speaking, teaching, writing and programming.

Jennifer and her family currently reside in the rural community of Carlisle and will be a wonderful asset, not only to the Brazeau Team, but to Royal LePage Meadowtowne Realty.

June 8th, 2010

July 1st is Approaching Quickly!

Nineteen years after the implementation of GST, we are now entering a new era – HST.  In Ontario, as of July 1st, 2010, this “harmonized sales tax” will be a combination of the 8% provincial sales tax and the 5% GST, resulting in a 13% tax.  But how much will this “new” tax actually affect us?

Note that resale homes will not be subject to HST.  Where you will experience HST in a residential real estate transaction is on the services associated with it: legal fees, appraisal fees, home inspection fees, moving costs, high ratio mortgage insurance premiums and real estate commissions.

Impact of HST on the Sale of a Home

Example 1: Between January 1st , 2010 and May 31st, 2010, the average sale price for a resale home in Milton was $390,000.    The table below indicates the additional costs that you would pay on the sale of a home with the price of $390,000.  The implementation of HST will result in $2,219.84 of additional taxes.   (This works out to be 0.57% of your original purchase price.)

Cost (Before Tax) Current Tax Paid Total New Tax Paid Difference

Mortgage Insurance Premium(1)

$10,188.75 $815.10(2) $1,324.54 $509.44

Legal Fees

$1,000.00 $50.00 $80.00 $30.00

Real Estate Commission(3)

$19,500.00 $975.00 $2,535.00 $1,560.00

Home Inspection Fees

$400.00 $20.00 $52.00 $32.00

Title Insurance

$480.00 $24.00 $62.40 $38.40

Total

$31,568.75

$1,884.10 $4,103.94 $2,219.84

Notes:
(1)   CMHC premium of 2.75% for a mortgage with a 5% down payment on a $390,000 home.
(2)   Currently only PST is paid on high ratio mortgage insurance premiums.
(3)   Based on 5% real estate commission.

Example 2: The average sale price for a home in rural Milton between January 1st,  2010 and May 31st, 2010 was $808,000.  The table below indicates the additional costs that you would pay on the sale of a home with the price of $808,000.  The implementation of HST will result in $4,437.85 of additional taxes.   (This works out to be 0.55% of your original purchase price.)

Cost (Before Tax) Current Tax Paid Total New Tax Paid Difference

Mortgage Insurance Premium(1)

$21,109.00 $1,688.72(2) $2,744.17 $1,055.45

Legal Fees

$1,000.00 $50.00 $80.00 $30.00

Real Estate Commission(3)

$40,400.00 $2,020.00 $5,252.00 $3,232.00

Home Inspection Fees

$400.00 $20.00 $52.00 $32.00

Title Insurance

$480.00 $24.00 $62.40 $38.40

Total

$63,389.00 $3,802.72 $8,240.57 $4,437.85

Notes:
(1)   CMHC premium of 2.75% for a mortgage with a 5% down payment on a $808,000 home.
(2)   Currently only PST is paid on high ratio mortgage insurance premiums.
(3)   Based on 5% real estate commission.

Is the sale of your home subject to HST?

If you have a firm deal in place for the sale of your home prior to July 1st, 2010, then you are only required to pay GST on your real estate commissions.  (This is because 90% or more of the agent’s services were completed before the implementation of HST.)   Note that the closing date of your home need not be prior to July 1st to avoid HST on real estate commissions!  However, other fees (mortgage insurance premium, legal fees, etc.) will be subject to HST if the service occurs after July 1st.

May 14th, 2010

Tomorrow there is a garage sale that is happening all across Canada. Many of the Royal LePage offices are opening their doors (and parking lots) to people to come and buy something with the knowledge that all of the money raised will be going to support local women’s shelters.

Royal LePage Meadowtowne Realty is no different. Our brokerage is having a RLP Shelter Garage Sale at all 3 of our locations (Milton, Mississauga and Georgetown).

Please choose one (or all 3) and come out (and buy something) to support a great cause.

Check out the video below.

May 3rd, 2010

Here is an excerpt from an article by Dan Richards, CTV.ca.

“The affordability verdict

If mortgage rates in December had been at normal levels, the percentage of income to carry a house in most cities would have been well above its long-term average. The good news: In most cities those percentages would still have been well below their highs – prices may be a bit elevated but this doesn’t suggest a bubble or a big drop ahead.”

April 13th, 2010

THIS IS BIG NEWS!!!!! The Ontario Government has legislated that there will be NO QUARRY!!! Residents of Rural Hamilton (Formerly Flamborough, including Carlisle, Freelton and Waterdown) and Kilbride and all the surrounding areas should (will) be ecstatic.

For six years we have been having to explain, educate and inform the public and prospective buyers and sellers (and their Realtors) of the implications that a quarry would have on property values and sales for LOTS of people (not just those who are immediate neighbours of the proposed site west of Milton, Ontario).

CONGRATULATIONS to F.O.R.C.E.!!!

Check out some of the news stories:
From the Spec –

April 9th, 2010

I was on the listing representation end of multiple offers tonight.

884 Maple Ave. in Dorset Park (Milton) received 4 offers tonight. One clear standout was signed back with minor “house-keeping” changes. The “signback” was accepted by the buyer and the property is now SOLD (conditionally for now).

The sellers took two weeks after our initial visit to do ALL the things our wonderful stager/decorator told them to do (6 pages of tasks) and the sale price is a testimony to the hard work and strong attitude that was embraced by the sellers. The property came on the market properly with a splash and the sellers are ecstatic with the result.

Another living example of how to sell your house quickly for the best dollar possible.

March 17th, 2010

It is with mixed emotions that I announce that as of March 9, 2010, Kim Coulter has left The Brazeau Team to go back out on her own as a Sales Representative with Royal LePage Meadowtowne Realty. Kim will however be staying with our Brokerage as part of the Milton office. I’d like to take this opportunity to thank Kim for her commitment and contributions over the past 15 months. Please join me in wishing Kim every success in her future real estate endeavours.

Regards,

Joseph

January 17th, 2010

If you take a look at the front page of today’s Toronto Star, you will see a story regarding .  This is, in my opinion, worthy of the front page.  However, if you look to the left of this, you will see a story about me (and about 24,999 others) who were all awaken early Saturday morning by an .  Seriously… front page?!?  Sgt. John Faught, who was the 139th Canadian soldier to be killed in Afghanastan , made page 3.  For some reason, 25,000 Halton residents getting a 5 a.m. wakeup call takes priority over a brave man who served his country with honour.

To the woman from the Halton District School Board that was responsible for the fiasco, I say congratulations!  Not many of us can make a simple mistake on the job and have it so widely publicized.  It is quite easy for people who are already in the public eye to have their simple gaffes blown out of proportion, as the paparazzi are all sitting waiting for them to screw up.  But to make the front page of a major newspaper without already being famous and when there are many other newsworthy events occurring, that is an accomplishment!  I hope that you (and the school board) are able to laugh at your mistake, hold your chin high and point to the story and say, “That was me!”  We all make mistakes.  And I am sure that you were not able to roll over and go back to sleep after you received the early morning call.

The automated service provided by the Halton District School board serves more good than harm.  If the service saves me from sitting in front of the radio waiting to see if my children’s school is closed for a snow day, I am all for it.

I think that the Star owes the family of Sgt. John Faught an apology, for he truly deserved the front page over the many tired parents of children in the Halton school board.

Jodie Near

The information in this article was current at 06 Dec 2011

Keywords: Real Estate, Resale Homes

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09-12-2011

The Brazeau Team » Milton Ontario Real Estate – Royal LePage Meadowtowne Realty - buying

This release discusses additional details provided in the information notice published by the Ontario government on November 19. One industry that will be significantly impacted by this new measure is the housing industry. The spring real estate market in urban Milton has been interesting to say the least. Average Days On Market (includes conditional period) = 16. Here are some statistics for you. Resale Homes Sold = 387.