Whether it was just another political promise that will never be realized, good intentions to the contrary, will the savings realized by the repeal of the tax actually provide a substantial benefit to wait?

The Tax launched in February, 2008 which on a $400,000 property has the Buyer paying $4475 to the Province and $3725 to Toronto account for $8200 or 2% or the purchase price. Not having the amount due to the City would save a Buyer approximately 1%….so why not wait?

As pointed out in recent posts from both the Toronto Real Estate Board  and the Canadian Mortgage and Housing Corporation , there has been a 5% increase in prices over the past year, so waiting to save 1% does not make a lot of sense. Also and most important, Buyers and Sellers are moving because the property that they live in no longer suits their needs. Although price fluctuations are part of any market, the reality of the real estate market is mostly based on the need to up-size, downsize, change school districts or moving closer to new jobs and opportunities.

If Rob Ford can get the votes he needs and find the 200 million dollars that the Land Transfer Tax has added to the City budget, then great for him. I have always had a problem with the TorontoLTT because it singles out a group of city taxpayers to fund services that are enjoyed by all of us. At the same time the Toronto Land Transfer Tax has encouraged some Buyers to choose between the 416 and the 905 regions.

Wait if you want, but you may be disappointed with the end result. Taxes are seldom repealed once they are bringing substantial funds to Government….

“Habitat for Humanity ReStores are building supply stores that accept and resell quality new and used building materials. They generate funds to support Habitat’s building programs, while reducing the amount of used materials that are headed for overflowing landfills! They are an environmentally friendly store that makes sense!” 

Toronto-East ReStore

HFH Toronto Greg Chandelier – Manager 29 Bermondsey Road Toronto, ON M4B 1Z7 Tel:  (416) 755-8023 (33)
Fax: (416) 755-8116 Email: gchandelier@torontohabitat.on.ca           salvagecoordinator@torontohabitat.on.ca Website: www.torontorestores.com/Click here to see the map.   

Toronto-Etobicoke ReStore

HFH Toronto Isaac Akbari – Manager
7 Queen Elizabeth Blvd Etobicoke, ON  M8Z 1L9 Tel: (416) 259-9220 Fax: (416) 259-7380 Email: iakbari@torontohabitat.on.ca           salvagecoordinator@torontohabitat.on.ca Website: www.torontorestores.com/

Click here to see the map.

Toronto-West ReStore

HFH Toronto Radka Zahradnickova - Manager
1120 Caledonia Road Toronto, ON  M6A 2W5
Tel: (416) 783-0686 Email: rzahradnickova@torontohabitat.on.ca           salvagecoordinator@torontohabitat.on.ca Website: www.torontorestores.com/

Click here to see the map.

Here is some information from Ann the Downsizing GURU! :

Has your home become overrun with clutter and you just don’t know how to deal with all the ‘stuff’ that you’ve collected? Don’t worry, there’s a new service in town designed specifically to help you with this dilemma – it’s called Declutter and Downsize.  We offer a range of practical and effective services for home organization. Depending on your situation, we will help you organize your current home or manage the details involved in relocating.

Ann Christie, Founder of Declutter and Downsize understands that everyone accumulates ‘stuff’.  Too quickly it’s a struggle, and often paralyzing, to figure out where to start or how you will ever get organized again.  That’s why Declutter and Downsize was started. 

The process begins with a free one hour consultation, in your home, to learn more about you, your requirements and wishes. From there a plan and timeline are developed for carrying out the decluttering or downsizing process together. We work with you to sort and organize your belongings to determine what to keep, what to give away to family or friends, what to sell or donate and finally, what to recycle or discard.  Your space will be transformed into organized functional areas that are easy to maintain, and if you are downsizing, you can look forward to a worry-free move. During the transition you will learn the skills involved in preserving an orderly home.

 To see how Declutter and Downsize can be of service to you, please call 416-961-1406 or email ann@declutteranddownsize.com.

Making sense of any market is difficult at the best of times but because of the lag time in reporting sales that are firm or sold conditionally, a chrystal ball can come in very handy….

Here is what I have noticed:

• There are a lot more houses on the market for sale.
• Showings have subsided but Open Houses are still quite busy.
• The number of sales has decreased leaving a lot more listings for buyers and hence a lack of urgency.
• Where move-up Buyers would have offered before selling, they are now holding back till their own property sells.
• The houses that are moving first have the most amenities: Parking, Schools, Garages, High-end Finishes etc.
• Sellers have to be calm, price realistically and manage their expectations.
• Sales are still happening, fewer with multiple offers, but they are happening.
• People are confused about the HST and think wrongly, that it is payable on resale housing. It is only payable on the services used during the sale of resale housing.

The difference in Today’s market is this:

• There was a shortage of listings in the market place from October 2009 till February 2010 contributing to a pent up demand this Spring.
• There is a strong ”Baby Boom” affect. A lot of Today’s Sellers are changing their lifestyles moving to apartments or to their Country properties. They are responsible for the spike in listings…
• Today’s Buyers are “surfers”, used to surfing Television, the Internet and Open Houses. They don’t want to see property by appointment but surf Open Houses on the weekends…

What does it all mean?

• More listings, giving Buyers more choice.
• Patience is needed if you are a  Seller or Agent.
• Buyers need to get their “ducks in a row” in terms of financing and deposits.
• Pricing can only be based on the value of the home, not the plans that you have for the money after you sell…

The reality is that most Spring markets are similar and that a market is a market: Prices go up and down, activity changes slowly at times and quickly at others… first and foremost your house is a HOME where you, your family and friends enjoy company, entertain and share your hobbies.

At the end of your life will you be thinking about the money you made in Real Estate or the great times you had in the home that you loved.

I am sure you have some thoughts so feel free to comment…

There are times when “Downsizing or Rightsizing” becomes a must and not an option. Sadly, the topic is often controversial with the person needing to “Rightsize”. The process means a lack of independence, and many will fight any suggestion to move to a more accommodating living space.

We live in a City where there are very few spaces, other than apartments, that can allow one to live on one floor. Bungalows only exist in certain areas and those are still mostly accessible by climbing stairs. Staying in your home also means having to maintain gardens, snow removal, and routine maintenance.

My guiding rule when I counsel clients needing to move is “Is this the safest place for you to live?”

In Ontario we have “Community Care Access Workers”  who can help you and your family make these decisions. They are trained professionals who can help you function in your own home for as long as possible and provide the guidance needed when it is time to leave. Sadly…most of us have a tendency to fight and rage against change and family becomes the target for that rage.

Until she passed a few years ago, my brother and I became the target of my Mom’s frustration as her independence diminished. We took different tactics: My brother was the realist and would point-blank tell my mom that she was in no physical shape to fly from Toronto to Edmonton for a Family event. That approach set my mom off in a rage…she was not interested in dealing with a point-blank “NO”.

My approach, wanting to avoid the argument, was to say that “YES”, I would take her from Toronto to Edmonton. Yes, we would have to drive out to the Airport. Yes, we would have to wait in a waiting room for at least an hour at the Airport. Yes, we would have to sit on the Airplane for almost four and a half hours. Yes, we would…At this point my mom would look at me, laugh and say…”I know that I can’t go…I just like to talk about it”. That would be the end of the discussion.

Restricting independence is a huge issue for everyone. However, staying in a home that is unsafe is worse.
Rather than telling someone they can no longer live in their own home you might try to asking how they would manage if something unforeseen happened. Go through the scenario as I did and if they still are firm, then you must do everything you can to make the home safe.

Sometimes though you must make a unilateral decision in the interest of safety…if so, best of luck. That can be one of the most lonely and painful decisions you will ever make.

For more information:

Real Estate: Downsizing with Style and Grace: Part Two

Real Estate: Downsizing with Style and Grace: Part One

There seems to be a universal response to the negative naming of the difficult process: Downsizing. However, I remembered with some friendly prodding that Barry Lebow, Founder of  The Accredited Senior Agent Designation refers to it as “Rightsizing”, a term defined as “to undergo a reduction to an optimal size”. I like referring to it as it turns a negative into a positive, so that works for me….Barry’s web site at http://www.thesenioragent.com/ has some great resources for seniors who are rightsizing but remember that people rightsize for all sorts of reasons.

Here are some of my further thoughts for today’s post:  I am a great fan of  writing up the plusses and minuses of any major decision. Sit down with your partner and family and decide what rightsizing will mean to you and your lifestyle. With older readers, those with health issues or caregivers, much of the discussion should be based on safety issues. The ruling decision should be based on “Is this the safest place for me to live?”.

When it comes to what should stay and what should go, call a professional…and listen to them. The Real Estate business is full of third parties we use called “Stagers” . They pride themselves on showing our sellers how to make their homes look spacious, when they may not be and have a very good unbiased eye. Owners, Family and friends may have vested interest in pieces or history around them and may be tied to “Stuff”.  My colleague, D’arcy Burkholder of Bosley Real Estate has a great perspective and points out “these are just possessions…ask yourself……Do you own them or do they own you?”.

I also hear people say that they are “saving these possions for their children”. As I child I heard that excuse used many times…strange that I was never asked whether I wanted those possessions or not. As my mom aged and passed those possessions on to me and my brother they occupied a large armour in my living room and his basement….they seldom got used, and when asked where they were, it became easier to say that they were in the dishwasher….course that never worked with chairs, a sofa or the dining table. The dishes were not dishwasher proof so I got a further talking to…with a gracious helping of guilt.

Ask your children what they want and give it to them now…without an editorial or history…especially if they tell you they cannot use it. Remember that you went through the process at their age, but also remember that this generation is known for not being as loyal as we were and seldom care how long you have had it around. With the recent generation we make a mistake branding ourselves with our History rather than our Services or recent successes. How long something has been around is not as important to them as its utility today.

Today’s tips:

• Hire a professional Stager and play “does it stay or does it go?” at home.
• Have new floor plans done and use your Stager to stage your existing place for sale making recommendations on the new space at the same time.
• Get sticky notes to place on what is to go… let your family or friends walk through the “to-go” group while you go for a short walk…if they want something in the “to go” group, it must go today. If it does not disappear, move it out as soon as you can but …don’t move it into a storage locker. Storage Lockers are often a cop-out!

At all times keep in mind where you are moving to and what the pluses of that new space are going to be. Get excited and get packing! Speaking of packing…at all times hide all packing boxes. There is little as depressing as half-empty or half-filled moving boxes. Always make your home a Moving Box FREE Zone!

Feel free to add your comments and suggestions below or read the earlier post at:

Real Estate: Downsizing with Style and Grace: Post One

Real Estate: Downsizing with Style and Grace: Part Three

Could we live in less space? Could we live in multiple locations at different times of the year by selling the larger home. Of course…but the enormity of the job ahead  hits with major depression and the reality is that Downsizing Sucks!

I thought I would give you some ideas from my home-selling experience that might help you deal with some of the challenges of this new adventure: Downsizing with grace and style.

When I start showing  smaller properties to those downsizing, I watch their faces trying to imagine their new lifestyle in terms of their existing furniture, art, entertainment options, cooking, etc….I can see that they are taking all their possessions and mentally cramming them in to tighter spaces. Don’t even try! It will never ever work.

Keep what you must but start looking at apartment-sized furniture. Most clients go wrong by not differentiating full size and apartment size furniture when they decorate. A couple of times I’ve suggested to small space Sellers that we replace existing furniture with more advantageous sized staging and to their credit, they did at great benefit to them.

The issue is the same: When downsizing, try to visualize the smaller space with smaller scale minimalistic accouterments. Start looking at Magazines, TV Shows and web sites that focus on “Living in Smaller Spaces” at HGTV.

It is amazing what you can do….visit the IKEA store or web site and look at what their designers do in managing space. I’ve been told by my friend and colleague Darcy Burkholder that IKEA now features their staged designer rooms with the square footage noted… to help you grasp the reality of smaller spaces and what can be put in them. A great idea!

Start fresh, reinvent yourself, create a new look, change styles…make it a fun project and approach the next step of your life as a challenge. Don’t focus on what you are leaving but on where you are going and the new lifestyle you can create there. You may be very surprised!

More to come but feel free to leave your thoughts and comments!

Related Posts:

Real Estate: Downsizing with Style and Grace: Post Two

Real Estate: Downsizing with Style and Grace: Part Three