Now is the time to invest in property for your business: BMO

Low interest rates, low vacancy rates and tight supply are a cue to look at buying a building for your business, according to the Bank of Montreal.

“Now may be a particularly good time for businesses to invest in commercial property for their own use,” said Steve Murphy, senior vice-president of commercial and treasury management at BMO. “There is strong demand for these properties by users, who are often able to lease out part of the property for additional rental income.”

BMO says overall the real estate market continues to show signs of strength and that will likely continue to in the face of low interest rates over the medium term.

Earl Sweet, senior economist and managing director at BMO Capital Markets, said the market is attractive to investors for several reasons.

He notes supply is limited, vacancy rates are lower than historical norms across segments in many cities and risk-averse operations have helped to improve balance sheet performance of developers, construction firms and realtors.

“After a severe and protracted market downturn in the 1990s, the commercial real estate industry in Canada has been characterized by cautious development and prudent lending practices,” said Mr. Sweet.

“Higher occupancy, spurred by steady growth in employment, manufacturing, wholesaling and retailing, is reducing office, industrial and retail vacancies, while lease rates are edging upward. Meanwhile, large U.S. retailers are targeting what they view as the underserved Canadian market for expansion.”

He expects the market to grow at a more “tempered pace” this year and next as Canada’s economic growth eases to 2%.

“Furthermore, the still-unresolved Eurozone crisis and slowing momentum in the United States and several major emerging markets will continue to weigh on investors’ risk appetite and adversely affect the industry in the short run,” said Mr. Sweet.

http://business.financialpost.com/2012/07/25/now-is-the-time-to-invest-in-property-for-your-business-bmo/

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In Toronto, the high end real estate market takes no holidays

Lots of Toronto homeowners are looking at the eye-popping prices houses and condo units in the city are fetching these days and deciding it’s time to cash in.

In most years, Toronto’s real estate market slips into somnolence by the mid-summer and agents head to their own cottages to recover from the spring maelstrom. But 2012 is different - especially in the upper echelons of the market. On just one day this week five agents put forward interesting and luxurious properties as candidates for “Home of the Week” in Globe Real Estate. That’s a pace that feels more like April than mid-July.

Ross McCredie, chief executive officer of Sotheby’s International Realty Canada, says high-end real estate sales have been hot in all of Canada’s big cities and nowhere more than Toronto. Calgary and Montreal are bustling too. Sales and prices in Vancouver have retreated from their 2011 peaks but lots of high-end houses are still selling above the asking price, he adds.

“The Toronto market is really the story,” he says.

He cited the relative strength of the Canadian economy, low interest rates, a migration from the suburbs toward the downtown and an influx of wealthy immigrants as the main factors driving the action. “A lot of people who weren’t thinking about selling their home are now thinking about it,” says Mr. McCredie. “It’s all about timing.”

The results of a study commissioned by his firm show that the number of listings in the GreaterToronto Area for houses valued at more than $1-million swelled by 29 per cent in the first half of 2012 compared with the first half of 2011.

The increase was surprising to Mr. McCredie, who thinks that many people are selling with the intention of sitting on the sidelines for a couple of years and then getting back into the market after a downturn.

But Mr. McCredie thinks the strategy may be mis-guided.

“You need to plan these things in advance an not just react,” he says of the sudden rush to list.

He doesn’t mind if people want to list, mind you, but he doesn’t see a big correction in prices coming in Toronto. Downturns are typically fuelled by a catalyst such as a sudden spike in interest rates, he points out. He doesn’t see rates rising sharply any time soon.

He know there’s lots of talk of over-heating in Toronto but he doesn’t believe the market is in a bubble.

“We actually don’t see it from our perspective.”

All of the new listings bring more choice for buyers, who so far have continued to step up. Sales in this segment in the first half of the year jumped 29 per cent to 3,113 from 2,405 in the first half of 2011.

The inventory of houses on the market for asking prices at above $1-milion in the GTA stood 31 per cent higher at the end of June than inventory at the same time last year.

In the first half of the year, the average number of days on the market for a property in this segment slipped to 31 from 34 in the same period last year.

Mr. McCredie says the jump in listings could erode some of those numbers in the GTA just as they have in Vancouver, but he believes sales will remain robust.

Besides, marquee condominim projects such as the Four Seasons Private Residences and the Shangri-La are set to open this year.

“You’ve got a lot of high-end product,” he says. “Those are condo markets like we’ve never had before.”

http://www.theglobeandmail.com/life/home-and-garden/real-estate/in-toronto-the-high-end-real-estate-market-takes-no-holidays/article4442376/

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SAVE YOUR HEART IN 5 STEPS

Your head throbs after a night in Vegas. Your joints ache after a 10K. But your heart? You’re less likely to realize something’s wrong until something’s really, really wrong. And that’s troubling, given that cardiovascular diseases now account for nearly 1 in 3 deaths in America every year. Heart disease now leads the way as the number one killer of men. Worse, 38 percent of adults meet at least three of the seven criteria for “poor” heart health set out by the American Heart Association. 

These five strategies will help keep your ticker going strong.  

Assess Your Risk. “An assessment of cardiovascular risk factors—including a cholesterol test and blood pressure exam—should be done in early adulthood, say during one’s twenties,” says John Elefteriades, M.D., professor of surgery and director of the Aortic Institute at Yale. Those results will help determine your next move. If you have high blood pressure, high cholesterol, or a family history of heart disease, a more thorough risk assessment should be one of your top priorities. Many doctors recommend an exam modeled after something called the Framingham Heart Study. It combines factors like age and blood pressure to determine your risk of heart disease, and gives you an actual percentage score. One version of the test relies on a complex algorithm, while the other is points-based. Go with the algorithm. It’s more accurate, according to a study published in BMC Medicine. 

Understand LDL. It’s often cast as the villain, but not all LDL is as bad as it seems, says Ronald Krauss, M.D., senior scientist and director of atherosclerosis research at Children’s Hospital Oakland Research Institute. New ways of studying cholesterol have shown that you can parse LDL into at least four sub-categories—some very bad, and some relatively benign. While researchers work on the best ways to laser-target the worst of the LDL, stick to more traditional methods. Have oatmeal for breakfast—it contains betaglucans, soluble fibers that help reduce the amount of cholesterol absorbed in the intestines. Click here for 5 Cholesterol-Fighting Foods.

Consider These Tests. If your doctor needs to know more information about your risk, he has a few options. If you have a moderate to high risk of heart disease, your doctor may request a C-reactive protein (CRP) test. “CRP is an indicator of inflammation, or internal irritation, of the blood vessels. Fortunately, it can be brought down from high levels by exercise,” says Elefteriades. There’s also the CT scan, which allows a doctor to see directly if arterial buildup is an issue.

Watch Your Blood Pressure. Cutting your sodium intake alone won’t always do the trick: In a recent review of seven studies, people who lowered their salt intake were just as likely to have a heart attack or stroke as those who didn’t limit sodium, according to research in the American Journal of Hypertension. Shedding pounds is a better solution: Getting in shape can yield as much as a 10- to 29-point drop in blood pressure. And regular aerobic exercise can make it fall another 10 points—it causes your blood vessels to expand and contract, which they’ll need to do when you’re stressed. In the office, keep a rubber ball nearby. Click here for The 3 Best New Cardio Workouts.

Look Beyond Total Cholesterol. Some tests can also give you a more detailed look into your cholesterol, if it’s necessary. One of them is the non-HDL test. “I recommend that everyone gets it,” says Krauss. “It’s determined by simply subtracting HDL cholesterol from total cholesterol. These are both standard tests, so there’s no special testing required.”

: http://www.menshealth.com/health/save-your-heart#ixzz21k1hKETp

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How to care for your car's leather interior

There’s no need to hide from leather interiors – while some experts recommend leather cleaners and conditioners, Honda says your seats just need dusting, vacuuming and the occasional wipe down.

“The simplest way to prolong the life of your leather interior is to vacuum it regularly,” Honda Canada spokesperson Chris Wood says. “Chances are, if it can’t be solved with a vacuum, a soft cloth that’s been slightly dampened with water will do the trick. Just be sure to remove any remaining moisture by buffing the area with a dry cloth.”

It sounds simple, especially since there are lots of leather care products on the market. Wood says they don’t recommend any products in particular.

“Some are cleaners while others are conditioners. Choose the wrong one and you may regret it,” Wood says. “Our recommendation is to consult the owner’s manual and follow the instructions.”

Those instructions say to clean the leather with a soft cloth dampened with a 90 per cent water and a 10 per cent “neutral wool detergent solution,” then buff with a clean dry cloth.

Again, Honda won’t specify a specific brand of pH neutral or near-neutral detergent, but products for wool and delicates fit the bill.

“It’s important to avoid detergents that use any kind of dye or bleach and anything that can be harsh, abrasive, or cause the leather to dry out and shrink,” the auto maker says.

The Good Housekeeping Research Institute agrees that leather seats don’t need much maintenance, but preventing tears and stains is crucial.

“There’s really not much to do to take care of a leather interior,” says the Institute’s Carolyn Forte. “Obviously, you want to keep sharp or rough objects away from it to prevent rips, tears, and scrapes, but that’s [the case] with fabric, too.”

Aside from keeping keys, cell phones and zippers off leather surfaces, Forte says drivers should use a leather cleaner and conditioner for cleaning.

“Stains can be tougher to remove on leather than on fabric, so be sure to keep pens away and blot spills as soon as they happen,” she says.

Good Housekeeping doesn’t recommend any particular leather product, though, and neither does Consumer Reports.

In a March 2012 article on detailing car interiors, Consumer Reports says drivers should gently clean vehicle leather with “leather cleaner, saddle soap, or another mild leather soap on a damp cloth.” Be sure to remove all soap and moisture – especially on seams and folds.

Wood says Honda recommends checking with your dealer before getting your leather surfaces professionally cleaned.

“Without knowing how a professional cleaner gets the job done, it’s hard to predict how it will affect the surface or whether it will void the warranty,” Wood says.

http://www.theglobeandmail.com/globe-drive/car-tips/how-to-care-for-your-cars-leather-interior/article4421020/

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Easy Bathroom Upgrades

Over a weekend, you can make your bath look and work a lot better. Here's how.

Three quick add-ons to max out a small space

Get bottles off the sides of the tub with a toiletries organizer. Oxo's Bathtub Corner Shelf ($6, oxo.com) is a plastic triangle that suctions to a bathtub's corner (and can go right in the dishwasher).

Hang towels where you need them with stylish metal-look adhesive hooks, like the Command line by 3M (from about $6).

Expand elbow room: Install a curved shower-curtain rod. A double-rod style like Polder's ($45 and $50, polder.com) lets you dry towels or hand-washables out of sight.

Little changes, big impact

Swap out the toilet seat. Having a pristine seat in place is just...nice (and inexpensive, too — as little as $15). Unbolt the old one from the rear of the bowl and attach a new one; some have nuts that can be tightened with your fingers.

Replace your showerhead. WaterSense-labeled ones, as in the multi-spray Moen Nurture line ($29 to $39, lowes.com), could save your home 2,300 gallons of water a year. To replace: unscrew the old showerhead (you may need pliers or a pipe wrench), remove the plumber's tape, apply new tape (available at hardware stores) to the threads, and twist on the new showerhead. Done!

Re-caulk the tub or sink. Discolored caulk makes a bathroom look dirty even when it's not. Remove the old caulk with a scraper (with any luck, it'll peel right off), then wash and dry surfaces. Mind your "45s": Snip the tube's tip at a 45-degree angle, then apply to seams at a 45-degree angle. GE Silicone II Kitchen and Bath caulk ($6, caulk yourhome.com) sets in three hours and has a five-year no-mold guarantee.

Ambitious, but still easy

Put down a new floor. It's easier than you'd think. Armstrong self-adhesive vinyl floor tiles (starting at $1 a square foot, armstrong.com) can be cut to fit with a utility knife. Peel off the backing and stick right atop the existing floor (linoleum, tiles, etc.). Tip: A faux-stone pattern like granite is almost foolproof — geometric styles can be tricky to align.

Dress up the mirror. Add a frame from MirrorMate ($135 to $235, mirrormate.com). Unlike others, these are precut and have adhesive backing so they'll stick around your existing mirror. Or, if you have a medicine cabinet, consider replacing it. Robern makes handsome cabinets that are mirrored inside and out ($190 to $468, robern.com).

Not a handy-woman?

Leave the tools in the box and try one of these chic, simple trade-ups:

• A NEW SHOWER CURTAIN
The vivid stripes of Kate Spade's latest ($40, Bed Bath & Beyond) add a splash of color to a neutral space. Not so bold? The graphic-yet-subtle patterns of West Elm's spring styles ($40 each, West Elm) are eye-catching, but not overwhelming.

• LUXE TOWELS
Who doesn't love to cuddle up in a fresh set? Pottery Barn's plush Hydro Cotton ($6 to $19, Pottery Barn) shrank little in GHRI tests and can be monogrammed. Swank!

• A FRESH BATH MAT
For secure footing — and a spa-like look — splurge on a wooden mat, like a teak one ($69, VivaTerra). Prefer a softer style? Pick a cotton mat (it'll be superabsorbent) that's machine-washable and reversible so you can clean it less often.

http://www.goodhousekeeping.com/home/renovation/easy-bathroom-upgrades 

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Real estate advice: Toronto condo market gives renters plenty of choice and better prices

For the first time in more than a decade the GTA condo market is showing signs of slowing down. Bad news for those trying to sell their unit perhaps, but great news for renters.

There so many new units coming on stream, prices are softening. Many owners who bought them as investments may have no choice but to rent them out rather than sell. This means plenty of choice, room to bargain and better prices if you want to rent.

In Toronto in June there were 13 per cent fewer condominiums sold than in June 2011. There are rumours that some projects may be put on hold. In many buildings, there are multiple units for sale and they have been unsold for more than 30-60 days, almost unheard of during the first three months of the year. Some blame the slowdown on the double land transfer taxes payable in the city of Toronto. Still, because interest rates should continue to remain at historic lows for the balance of the year, there should not be any major reduction in overall selling prices.

Here are some ways you can get a better deal if you are renting.

Ask if a parking spot is included in your rent. Many downtown condos do not have them.

Make sure that you insert a cap on the maximum a landlord can increase your rent in any year, for example 2 to 3 per cent. Rent review does not apply to condominiums, or any other apartment unit or home built after November 1, 1991.

Do not agree to pay any security or damage deposits except for last month’s rent. These are illegal in Ontario.

Do not pay any deposits for keys or other entry cards unless they are refundable at the end of your lease.

Include a right to renew the lease for an additional year, at your option. This way, landlords cannot take the unit back for their own family use at the end of the first year.

Get contents insurance to protect your contents should something like water damage occur. Otherwise, you will not be compensated for this.

If you are asked to pay for utilities, ask for copies of prior bills to make sure you understand how much this may cost you going forward.

Visit the building during different times of the day. See how long it takes to get an elevator and how many people are using the swimming pool.

Make sure you are familiar with all the condominium rules before you rent. A swimming pool may not be suitable for you if you cannot swim before 7 a.m. If the declaration says no pets, then you can’t bring a pet onto the premises.

Landlords should still not be in too much of a hurry or panic before renting out their units. They still need to conduct the proper credit and background checks to make sure the rent is always paid in a timely manner, and that tenants take proper care of the rental unit.

http://www.moneyville.ca/article/1228288--real-estate-advice-toronto-condo-market-gives-renters-plenty-of-choice-and-better-prices

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5 New Brain Foods

When it comes to brain chow, blueberries, spinach, and omega-3-rich foods get all the cred. But did you know there are a host of other brain-boosting bites—many of which you probably already eat—that can safeguard your grey and white matter against disease?

Case in point: Antioxidants in onions may protect the brain from stroke-inducing damage, according to a brand new study in the journal Nutrition. Read on for more about onion’s cerebral benefits, plus four other items that can help you keep your dome sharp. (And for more mind-enriching tips, follow these 27 Ways to Power Up Your Brain.)

Onions
In the study, researchers fed some mice a regular diet and gave others a diet supplemented with an onion extract. When they induced stroke in all the animals, the onion-fed critters suffered significantly less brain damage. The reason: Antioxidant enzymes, such as catalase and glutathione peroxidase, in onions may block the formation of reactive oxygen species—compounds that damage the protective blood-brain barrier during a stroke.

Eggs
Choline, a nutrient found in eggs, chicken, and kidney beans, may protect your brain as you age, reports a study published last year in the American Journal of Clinical Nutrition. In the nearly 1,400 adults studied, researchers found that those with the highest choline intake performed better on memory tests and were less likely to have markers of blood vessel disease in the brain that could contribute to dementia. Choline is needed to make the neurotransmitter acetylcholine, which may play a role in memory and brain health. The recommended amount of choline for men is 550 mg per day—about the amount in five hard-boiled eggs. (Sick of your boring old morning scramble? Check out these Easy New Egg Recipes.)

Coffee
Order your java fully loaded: Caffeinated coffee might help protect against Alzheimer’s disease, according to researchers at the University of South Florida. In a study, scientists gave mice that were bred to develop Alzheimer’s disease either caffeinated coffee, decaf, or straight caffeine. They found that the regular coffee increased the levels of a brain-boosting hormone (granulocyte colony stimulating factor), which reduced symptoms of the disease. The hormone spurs the production of new neurons and creates connections between existing ones, researchers found. The key to reaping the benefits is the amount of coffee you take in: You’ll need about four cups of drip coffee each day spread out until about 4 p.m. (Later than that, and it could keep you from falling asleep.)

Citrus
Make it your main squeeze: People who ate two or more servings a day over 14 years had a 10 percent lower stroke risk compared with those who ate fewer than two servings a day, reports a 2012 study in Stroke. Credit a certain compounds found in oranges and grapefruits called flavones. The chemicals may improve the function of blood vessels and have anti-inflammatory effects that could reduce the risk for strokes due to blood clots. Reach for whole fruits—juices are often packed with sugar.

Red Wine
Compounds in grape seeds may help fight Alzheimer’s disease, a 2011 study in the Journal of Alzheimer’s Disease reports. Researchers found that grape-seed extract significantly reduced levels of proteins that contributed to the development of the disease in mice predisposed to develop memory problems. Red wine also includes the compound, so ahead and enjoy a glass with dinner. Need suggestions? Here are the 10 Best Wines for Under $15.

http://news.menshealth.com/5-new-brain-foods/2012/07/17/

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What to do - and not do - if you are in a car accident

In August, my husband and I will pack the car with suitcases, snacks, toys and movies for the kids, and drive to our annual family reunion. The river tubing, berry-and-mushroom picking, reminiscing and general relaxing that awaits makes the nine hours trapped in the car with two restless toddlers worth it, but the drive there is long and painful.

For many other Canadians, summer is synonymous with road trips. And as more vacationers take to the road, the greater the potential for an accident, be it a minor fender-bender or a major collision.

Natalie Dupuis, senior product manager of auto with RBC Insurance in Toronto, says that car accidents can be emotionally jarring. “They really do throw people for a loop, leaving them nervous and anxious, no matter how old they are or how long they have been driving.”

In the wake of a collision, it is important to know which steps to take – and which ones to avoid – in order to avoid making a potentially expensive mistake.

One thing not to do after a collision is apologize. “It is a natural Canadian reaction to say: ‘Oh my God, I am so sorry.’ But that might not be the best thing to do,” Ms. Dupuis says. An apology or an admission of being at fault could be used against you later when determining who is responsible for the collision.

To avoid seeing their auto insurance rates rise, some drivers choose not to file a claim with their insurance company and pay for the damage to the cars out of their own pocket. The danger with that, says Ms. Dupuis, is there is no guarantee that the driver responsible for the collision will agree with the repair quote or pay up in a timely manner.

Drivers involved in an accident can always call their insurance company, get advice and then decide whether or not they want to file an insurance claim.

“A major misconception that people have is that if they alert their insurance company of an accident, their rates will automatically rise,” Ms. Dupuis says. “If you were not at fault, your rates should not go up.”

If you are found to be at fault, how much will your rates rise? Ms. Dupuis offered this example of a car accident in Ontario, although she cautioned that there are many variables at play that can impact a driver’s premiums:

If it is the insured driver’s first at-fault accident, the premium can increase anywhere from just 6 to a whopping 140 per cent, depending on the situation. An experienced driver with a perfect record could see an increase of about 40 per cent or $600 a year. A new driver who has completed driver’s training will see an increase of about 30 per cent but on a much-higher premium, which could add up to a couple thousand dollars.

Some insurance companies offer accident forgiveness, Ms. Dupuis says, in which case a driver’s first collision would have no effect on their premiums.

An at-fault accident will stay on a driver’s record and be seen by insurers for at least six years and as long as 10 years.

A second at-fault accident could see your premiums rise 20 per cent, a third accident could boost them 50 per cent, and every subsequent accident beyond the third would add additional 25-per-cent surcharges.

If you have an accident, no one has been injured and the damage is minor, it is not always necessary to call the police, Ms. Dupuis says. “Some police would rather you did not because they don’t have time to come out there and deal with it.” In that case, her advice is to exchange pertinent information with the other drivers and call your insurance company.

Ms. Dupuis gave us this list of dos and don’ts after a car accident:

Do:

• Stay calm, keep yourself and others safe. If you can’t get out of your car, turn on your hazard lights.
• If anyone is injured, call 911.
• Look at the accident scene and make sure that you are not in danger of being hit by another vehicle.
• Exchange information with the other drivers involved. Get their names, addresses, phone numbers, licence information, insurance company name and policy number.
• Obtain the contact information of any witnesses who are at the scene.
• Take photographs of the accident, including the damage to the car and road conditions.
• Call your insurance company right away.

Don’t:

• Move anyone who is injured – wait for medical help to arrive.
• Leave the scene of the accident.
• Accept a direct offer of payment of damage from the other driver. Settling for direct payment may not be as advantageous as it seems. If you’re not at fault, the accident won’t affect your driving record nor will you have to pay a deductible.
• Sign any documents other than the police report.
• Get your vehicle repaired without clearing it with your insurance company; they may refer you to a repair facility where the work is guaranteed.

http://www.theglobeandmail.com/globe-investor/personal-finance/home-cents/what-to-do---and-not-do---if-you-are-in-a-car-accident/article4408382/

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Five tips for perfectly clean windows

All of the recent warm weather and sunshine in Toronto has happily meant all windows open at my place lately. The downside is that it's become all too apparent that my windows have accumulated a lot of grime over the winter and are downright embarrassing. When I tried my usual routine of spray cleaner and paper towels, it didn't work and left streak marks instead. So I started looking for tips on how to get crystal clear glass. Here are a few of the best tips I found:

1. Forget the glass cleaner with paper towel routine. To breakdown any built-up film on really dirty windows always start by giving them a good scrub with a sponge and a simple mixture of water and dish soap.

2. While vinegar and water is a popular alternative to harsher chemicals, many people find that it can leave windows with streak marks. You can avoid this by adding a dash of basic dishwashing detergent to your solution. Use 2 cups of water, 1/4 cup of vinegar and 1/2 tsp of dishwashing detergent. For squeaky clean results, the less suds the better.

3. The best way to wash windows is to start at the top and work your way downwards in an 'S' pattern. Then, wipe off any excess water with a squeegee or a microfibre cloth.

4. Wash your windows on an overcast day. Direct sunlight can often dry the windows too quickly, resulting in streaks on the glass.

5. Wash your windows twice a year to keep your home looking its best.

http://www.chatelaine.com/en/blog/post/38508--five-tips-for-perfectly-clean-windows 

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U.S. real estate: It might be time to invest

Now just might be the time to buy that vacation dream home south of 49.

The loonie is still within sight of par, taking the bite out of the currency transaction. Add to that glimmers of hope for a turnaround in the killing field of U.S. real estate, where the average house price dropped 34 per cent from its peak in 2006, and you have a situation that may not come around again for many years, if ever.

Americans still feel pretty grim about their economy, spending and income. June marked the fourth month in a row that consumer confidence has fallen, according to the U.S. Conference Board. Despite that, house prices are not only firming up but rising in 19 of the 20 cities that comprise the S&P/Case-Shiller composite index. The index gained (jumped said many market watchers) 1.3 per cent in April, the most recently reported month.

Canadians have become accustomed to a real estate market that has been attached to a balloon. A monthly gain of 1.3 per cent doesn’t even seem worth talking about. However, what it may signal in the U.S. is not so much a market poised to boom but one that is no longer bust.

“The key point here is that the price collapse is over, and potential homebuyers need not be put off now by the prospect of big capital loss,” said Ian Shepherdson, chief economist at High Frequency Economics in a note to clients that was reported by MarketWatch’s Washington bureau chief Steve Goldstein.

Canadians are attracted to the south and winter escape states such as Florida, Arizona, Nevada and California — among the hardest hit during the Great Recession. The major cities in all states posted gains led by Phoenix where prices rose 2.5 per cent in April and 8.6 since April 2011. (There have even been bidding wars on some Phoenix properties.)

Before you get out your chequebook, pause and consider these six tips for buying U.S. property.

1. Don’t rush The market may well have bottomed out but there are foreclosures galore clogging up the system. Depending on how they hit the market they can have a big impact on house prices. Also, many areas are still in the negative over the past 12 months. In the foreclosure capital of Las Vegas, prices inched up in April but are still down nearly 6 per cent compared to last year.

2. Rent first Unless you vacation frequently where you want to buy, try renting. A hotel stay doesn’t give you the same feel for a city or community as living in a condo or house. Also neighbours are great sources of information. For instance, when Winnipeggers Charlaine and Jason Horne zeroed in on dirt-cheap Spring Hill, 45 minutes north of Tampa, they rented for two weeks. “We were looking at nice 3 bedroom ranchers with pools going for $60,000. Then I heard about all the sinkholes in the area from a neighbour. We’re thinking about something closer to Orlando now.”

3. Run the numbers Many Canadians finance U.S. home purchases with a home equity line of credit. Ensure you can afford the payments based on higher interest rates that will likely come sometime before 2014. And while you’re at it put together a budget for your expenses in the U.S. Can you handle the costs if the dollar drops to 90 cents against the greenback? In the past six years alone the loonie has ranged between 62 cents and $1.07 vis a vis the U.S. dollar.

4. Get tax advice This is important if you intend to buy a vacation rental. Over the last couple of years the IRS has ramped up its interest in foreigners who earn income but don’t submit tax returns. There are many accountants who specialize in tax advice for Canadians with U.S. investments and income.

5. Check the HOA Homeowners associations across America are struggling because condo fees are in arrears. You may get a great deal but be saddled with unexpected costs as solvent owners are tapped for money for maintenance and repairs.

6. Check the title Title companies take care of closing real estate deals in the States but aren’t required to disclose existing liens. But if you ask they must tell you. You can also use a lawyer, as is the practice in Canada. Even so, ask the question.

No one believes that the U.S. housing market is down for good, but recovery will be very uneven and slow. Don’t plan on making a quick buck and prepare for doing far more research and asking many more questions than you would if buying in Canada.

http://www.moneyville.ca/article/1218558--u-s-real-estate-it-might-be-time-to-invest

Posted via email from Markham Real Estate Today with Asif Khan

Real Estate Today....with Asif Khan

MARKET WATCH   Low-Rise Home Types Drive June Price Growth July 5, 2012 -- Greater Toronto REALTORS® reported 9,422 home sales through the TorontoMLS system in June 2012. The number of transactions was down by 5.4 per cent in comparison to June 2011. The year-over-year decline was largest in the City of Toronto, where sales were down by 13 per cent compared to June 2011. Sales in the rest of the Toronto Real Estate Board (TREB) market area were comparable to a year ago. Read more...   Melanie Aitken to quit during TREB tribunal hearing Competition Commissioner Melanie Aitken announced today that she will resign on Sept. 21. She will be leaving in the middle of the evidentiary portion of the long-awaited Competition Tribunal hearing between the Competition Bureau and the Toronto Real Estate Board, which begins Sept. 10.  Aitken was appointed in 2009 for a five-year term. No reason was given for her resignation. Read more...  Ottawa tightens mortgage rules: What the analysts say The federal government is taking another stab at getting Canadians to rein in their borrowing and spending, introducing new mortgage restrictions Thursday to cool the housing market. The tighter rules, which include lowering the maximum amortization period on mortgages to 25 years from 30 years, lowering the maximum amount of refinancing to 80% from 85%, capping the maximum debt ratios for households and limiting government insurance to mortgages on homes with a purchase price of less than $1-million, will come into effect on July 9. Read more...      Friend on Facebook Follow on Twitter Forward to a Friend  Asif Khan TV  Search Listings  Today´s Best Rates Asif Khan As a sales representative with Re/Max All-Star Realty Inc. Brokerage since 2005, Khan works and plays in the town he's lived in for over 30 years. As a father of 3, Khan is very active within the community. A member on the parent council committee at Unionville Meadows, he organizes fundraising. Khan also donates a portion from each sale to The Children's Miracle Network. Read more...  follow on Twitter | friend on Facebook | forward to a friend  Our mailing address is: teamkhan@asifkhan.ca YouTube Hiring Great Realtors for our team! - Apply with resume to Asif@AsifKhan.ca     Please visit  :   http://asifkhan.ca                                www. TeamKhan.net

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Posted via email from Markham Real Estate Today with Asif Khan

Car insurance: 10 things you need to know

Most people see car insurance as a necessary evil and who can blame them? The monthly payment is among the most expensive household costs you have and all for something you hope you never have to use. The good news is that with a little bit of research you can make sense of car insurance and save money in the process.

Here are ten things you need to know.

1. Keep a good driving record

The single best way to keep your premium low is to build a good driving history. Accidents and convictions stay on your driving record for years. It’s the number one thing insurance companies use to determine your rate.

2. Shop around

Many people think all insurance companies charge about the same for the same coverage and driving profile. Not so. Rates vary significantly.

This is primarily because insurance companies assess risk independently. They all consider such things as where you live, the type of car you drive, how long you have been licensed and your driving record to build a risk profile. But each company has different claims and loss experience and so rates can vary significantly from one company to the next for the same car and driver for the same level of coverage.

3. How brokers work

You may also think that your broker is able to shop the entire market for the lowest rate available, but he or she isn’t. He or she is limited to providing quotes from the limited number of insurance companies he or she represents, typically no more than four or five. An insurance company agent can’t shop the market at all and is only able to provide you with the rate available from the single insurance company he or she represents.

Since there are more than 30 companies selling car insurance in Ontario alone, the only way to be sure you are getting the best rate is to get competitive quotes from as broad a sample as possible. There are a number of online sources that can help including ours, InsuranceHotline.com.

4. Consider increasing your deductible

A deductible is the amount you must pay before your insurance company will cover any expenses related to a claim. Generally, higher deductibles translate to lower premiums. This means increasing your deductible can be an effective way to lower your rate. However, it’s important to realize you must be comfortable paying the higher out-of-pocket cost if something happens to your car and you need to make a claim.

5. Review your coverage

Depending on the value of your vehicle, you may want to speak to your broker or agent about the type of coverage you require. For example, if you drive an older model, you may want to consider removing or opting out of collision and comprehensive coverage which typically represents a significant portion of your premium.

6. The Porsche factor

The type of car you drive is another important factor used to set your rate. Generally speaking, new cars cost more to insure than older cars, sports cars more than family sedans and insurance companies look at statistics on theft, safety ratings, and claims history of each when setting their rates.

Visit the Insurance Bureau of Canada to see the difference in the frequency of theft and claims for various cars and to better understand how your choice will affect the amount you pay for car insurance.

7. Ask for discounts

The worst thing that can happen is the insurance company can say no. Some of the more common discounts are for bringing all your insurance needs to the same insurer, maintaining a clean driving record and installing an anti-theft device.

8. Accident forgiveness coverage

Accident forgiveness coverage protects your driving record and rate increases in the event of an “at-fault” loss. Costs for this coverage can vary from one company to the next, but it could save you hundreds of dollars on your next renewal.

Check if this coverage is offered by your insurance company and consider the additional cost as a way of buying “insurance” on your driving record. Some companies may even provide it free of charge.

9. Loyalty can be costly

Some insurance companies may offer discounts if you’ve been with them for a long time and there are benefits to not moving too frequently. But a loyalty discount can give you a false sense of security and may distract you from finding a better rate. In some cases, the savings associated with switching can outweigh any loyalty discount. The only way to know for sure is to shop around.

10. Drivers training

New drivers should take an accredited driver training course. It not only prepares you to become a better driver, but usually qualifies you for a significant discount with many insurance companies.

This article wsa prepared for Moneyville's launch. Andrew Wicken was  the general manager ofInsuranceHotline.com , a free online insurance rate comparison service.

InsuranceHotline.com , which is partly owned by The Toronto Star, is one of three free comprehensive online services that offer free insurance quotes. The others are MyInsuranceShopper.ca, which is run by Ontario’s independent insurance brokers and Kanetix.ca a private company which has been in business since 1999.

http://www.moneyville.ca/article/848315--car-insurance-10-things-you-need-to-know

Posted via email from Markham Real Estate Today with Asif Khan

Cough! I can’t quit this summer cold

The question

I’ve been battling a nasty summer cough, sniffles and sore throat for three weeks now. Aren’t colds suppose to be mainly a winter problem?

The answer

Having to deal with irritating cold symptoms after getting through our long Canadian winter can be frustrating and confusing. The reality is, however, we can all get colds in the summer, and they can linger longer than winter colds.

While summer and winter colds may feel different, they are caused by the same viruses. The most common bugs that cause colds in the winter are rhino/corona and parainfluenza viruses and in the summer, enterovirus can join the mix.

Enterovirus, like the others, is spread through droplets dispersed by coughing, sneezing and fecal-oral contamination. Beyond the regular cold symptoms such as runny nose and cough, enterovirus can also cause diarrhea and abdominal pain.

As in the winter, though, the key to colds is to prevent them in the first place. Viruses can survive for hours on surfaces and are easily transferred to the eyes, nose and mouth through touch. So take special precautions to regularly wash your hands or use a hand sanitizer after touching contaminated surfaces.

But some summertime activities do increase the risk of contracting a cold. For example, we tend to travel more during summer. When we travel in enclosed spaces, such as planes and trains, we share the air with others who may be sources of infection. The chance of catching a cold is directly related to the number of hours exposed, so being on a long-haul flight heightens the chance of catching a virus compared with a shorter trip.

In addition to travel, we tend to get out more and interact with others in the summer, which also increases our exposure to viruses.

Another risk factor for summer colds is air conditioning. While air conditioning makes our lives more comfortable, it also exposes our body to recirculated air. By breathing in this recycled air, we can irritate the lining of our nose, thus breaking down our natural barrier and allowing entry for viruses.

While summer is meant to be a time of fun and relaxation, the stress of entertaining and travel can also have an impact on our immune function.

Another factor in catching summertime cold has to do with the heat. In very hot weather, we may change our sleep patterns or lose more fluids than normal, leading to dehydration. Both of these situation weaken our body’s ability to fight off infection, which is why summer colds may linger longer.

Finally, for those of us who suffer from allergies, the spring and summer months can take its toll on our respiratory system. Allergies can also trigger a reaction in the nasal and sinus passages, making us more sensitive to viral infection. If you suffer from allergies, treating them with antihistamines, nasal saline or steroid sprays can help decrease the irritation of the protective barrier in the nose and decrease infection.

If you do get a cold, take care of yourself by getting plenty of rest and hydrating well. Colds typically last approximately five to seven days. Antibiotics do not help with viral infections, so focus on treating your symptoms with analgesics, such as ibuprofen and acetaminophen and nasal saline sprays.

http://www.theglobeandmail.com/life/health-and-fitness/ask-a-health-expert/cough-i-cant-quit-this-summer-cold/article4400016/

Posted via email from Markham Real Estate Today with Asif Khan

Building permits hit highest level in five years

Statistics Canada says municipalities issued $7-billion worth of building permits in May, up 7.4 per cent from April and the highest level since May 2007.

The jump followed a 4.4 per cent decline in April.

The agency says the increase was largely due to higher construction intentions for institutional buildings in Alberta, British Columbia and Saskatchewan and for multi-family dwellings in British Columbia.

The value of residential building permits increased 8.5 per cent to $4.1-billion, following four consecutive monthly declines.

Non-residential construction intentions rose 6 per cent to $2.9-billion after a 7-per-cent decline the previous month.

The value of building permits increased in seven provinces in May, led by British Columbia, Saskatchewan and Alberta.

http://www.theglobeandmail.com/report-on-business/economy/housing/building-permits-hit-highest-level-in-five-years/article4394018/

Posted via email from Markham Real Estate Today with Asif Khan

Sunny Forecast For The Real Estate Market, Optimism Growing Among Some

by Phoebe Chongchua

The real estate market has had an ominous cloud looming for a long while with sunshine trying to break through. Now, according to a recently released second quarter survey by HomeGain, optimism is growing and a sunnier forecast is anticipated by some.

The survey results are taken from a pool of more than 400 agents and brokers and 1,700 homeowners. Perhaps not surprisingly the optimism is a bit unequal. Regarding the general direction of home values, about 48 percent of industry professionals expect home values to increase compared to only 27 percent of homeowners. However both percentage figures are up from first quarter 2012.

The outlook for the next two years? The forecast, according to the belief of those surveyed, gets even better. Real estate professionals (82 percent) and homeowners (59 percent), both believe home values will increase in the next couple of years. However, a small percentage group, 6 percent of real estate professionals and 15 percent of homeowners, think the exact opposite.

Meanwhile, 14 percent of industry professionals are warning to prepare for yet another decrease in home values. The percentage shoots up to 24 percent of homeowners who agree with this prediction.

Forecasting no change: 38 percent of real estate professionals and 49 percent of homeowners expect home values to remain the same over the next six months.

In a press statement, Louis Cammarosano, General Manager of HomeGain said, “Optimism among real estate professionals spiked in the second quarter. Real estate professionals are optimistic about home prices in the short term and especially optimistic in the coming two years with 82 percent of real estate professionals and 59 percent of homeowners expecting prices to rise.”

But where are these anticipated increases in home values expected? The survey results show expected increases are scattered throughout the country. Here are the lists of the top 10 states where home values are expected to increase in the next six months, according to real estate professionals and homeowners.

Real estate professionals expect increases in home values in the next six months: Virginia, Arizona, Colorado, California, Texas, Florida, Massachusetts, Ohio, New York, and Georgia.

Homeowners expect increases in home values in the next six months in: Arizona, Colorado, Oregon, Texas, Pennsylvania, Virginia, Maryland, Washington, Florida, North Carolina.

As for declining home values in the next six months, real estate professionals expect the following top 10 states to get hit hardest in this order: Pennsylvania, Ohio, New York, Georgia, Maryland, Florida, Colorado, Virginia, Texas, and California.

Homeowners think the top 10 states to experience a decline in home values in the next six months will look like this: Illinois, North Carolina, California, Oregon, Georgia, New Jersey, New York, Maryland, Pennsylvania, and Florida.

Breaking down the information. If you're planning to sell your home, be sure to showcase your home's features. As buyer confidence builds in the real estate market, it's important as a seller to think like a potential buyer would. See your home from a buyer's perspective. Before you put your home on the market make it as "buyer-focused" as possible which means the following things should be implemented: de-cluttering, maintenance repair, home staging, and curb appeal. The more you make your home "buyer-focused" the greater the chances of a faster and higher priced sale. For more information read my column " Buyers Want Move-In Ready Homes. "

http://realtytimes.com/rtpages/20120706_optimism.htm

Posted via email from Markham Real Estate Today with Asif Khan