Does the new HST have you stumped?  Are you shying away from selling or buying property?  Its not as scary as you think.  When buying resale homes, HST is only charged on the services associated with your transaction: real estate fees, home inspection fees, moving costs, legal fees, etc, and not on the overall cost of the home.  (Could you imagine?  13% of an average $450,000 home…that’s a whopping $58,500!!!).  New Home builds (greater than $400,000) are subject to HST, with homes priced between $400-500,000 subject to a proportional rebate.  Yikes! 

Here’s an example of how it all breaks down (old GST only vs new HST applicable):

CURRENT TAXES PAID, VERSUS THE NEW COMBINED HST TAX PAYABLE, ON A HYPOTHETICAL $360,000 REAL ESTATE TRANSACTION:

(1) CMHC premium of 2.75% for mortgage with a 5% down payment on a $300,000+ home.
(2) Consumers currently pay the 8% PST on mortgage insurance premiums.
(3) Real estate commissions are negotiable – 5% used in this example.
(4) Ministry of Finance, Public Accounts, 2007/2008.
(5) Altus Group, “Economic Impact of MLS(R) Home Sales,” June 12, 2007

So…perhaps not as bad as you thought? You can count on an additional $2K on the purchase of an average home as a result of the HST.  I think I’d still rather go shopping for a new comfy couch or consider some home improvements for that dough!

Questions regarding the HST outside of Real Estate transaction- check out the government website below for some helpful direction:

http://www.taxtips.ca/gst/onhst.htm

So, one of my clients, who is a big believer in Karma, has got it down to a T. We have their property listed and have had what appeared to be two solid deals signed and a day or two away from being firm. As it turns out, both of them for different reasons fell apart at the last minute. So my client says to me after the 2nd one fell apart…. “I jinxed both of these deals, by not making my bed the day after we acknowledged the deals.”
I really didn’t think much of it until today, my client called me and was upset by the fact that a showing had been scheduled for the property, and when my client arrived home…… the bed was left un-made… I’m still waiting to hear back from the other agent, hopefully this might break the curse?

On May 29th We are holding a Yard Sale for the cure at the RE/MAX office in Newmarket. Pack Rats Unite!! Bring us all your stuff that you’re to embarrased to admit you have. We’ll sell it for you, and donate the proceeds to the Canadian Breast Cancer foundation. Message me for more details

http://www.cbcf.org/en-US/Home/YardSale.aspx

Selling? Get rid of the clutter! Clear out those closets, remove bulky, unused furniture and rearrange the remaining pieces to make the best use of space. Fight your inner-pack rat at every turn.

Canada’s lowest-ever variable mortgage rates could soon be a fond memory. Eleven out of 12 analysts polled by Reuters now predict a June 1st rate hike.

REALTORS® understand the market, the process and the paperwork. And when it’s time to make an offer, a REALTOR® can negotiate on your behalf. I work for YOU

Wow, what happened to the week? Last thing I remember was talking to my broker on Monday morning about our respected weekends, next thing I know it’s Friday @ 9pm ! I am going to take some family time Saturday, and take my son to the fishing derby @ the local pond. The event is sponsored by the Uxbridge Canadian Tire, Huck Finn day is a event free to children that is put on every year. They’re calling for decent weather so let’s hope the fish are biting.

This is my 2nd video, again, please remember that I am not an actor.

Hope you like it!

So… I am a real estate agent, not a videographer or an actor, so bear with me, these will get better.  In taking things to the next level of client interaction,

Hopefully you find this a little bit more entertaining than scrolling through some pictures.

I’m having an open house @ 22 Wheler Crt this Satuday April 10th from 12-2 if anyone wants to stop by for some fresh Chocolate Chip cookies!