Quite often when we’re out at meetings, events or even just a BBQ people will mention that they need a: Painter / General Contractor / New Roof / Windows,and the list goes on…
But one thing continues to surprise, is that they almost never ask us if we know anyone in those professions. And to clarify, when I say ‘we’ I mean Real Estate Agents. We work with these professions and trades on an almost daily basis and know which ones are comparable and which ones live up to their promises and which ones don’t follow through.
A lot of our day is spent assisting our clients (Buyers and Sellers) in solving problems and potential headaches by utilzing our contact database of tradespeople. A lot of times as well, when we call they know that the work being referred is from a qualified source as they’ve worked with us in the past.
They may not always be the cheapest, but one thing we can say is that should not always be the deciding factor! So feel free to reach out to us for any of your housing needs. We know that everyone has busy days, so don’t hesitate to reach out to us for a name, email address or phone number for someone you need for your home.
Its our pleasure to be able to refer our network, to show them that we appreciate their work by sending them customers who trust us to trust them.
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CONDOMINIUMS – WHAT’S THE DIFFERENCE?
With the Spring Market beginning (and likely in full swing at time of print) it’s the time of year that we fill up the gas tank, load up our Buyer’s and start looking at Condos! And then the inevitable question comes up:
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Magazine: Condo Contact – Winter 2013
CONDOMINIUMS – A SOUND INVESTMENT?
2. Tenant Relations: Working with your tenants to ensure they understand the By-Laws etc, will not only work to protect you from unwanted issues but it also engages the tenant to be responsible and involved in their living arrangement.
Terra Firma RE has chosen to focus on these four areas of real estate: residential – condominium – investment and commercial.where to buy modafinil frombuy modafinil germanybuy modafinil greece
By: Tim Cestnick
*special to the Globe and Mail*
My good friend Dave and his wife Linda got lost last weekend. They were following their GPS looking for a particular address when they ended up somewhere along a remote dirt road. “Dave, why don’t we just find someone and ask how to get where we’re going?” Linda suggested. Dave, like most normal men, believed that they weren’t all that lost. “I don’t want to stop to ask someone,” he replied. “We’re close – I’ll get us there.”
After two hours of wandering, they ended up pretty close to their destination. My hat’s off to Dave for a job well done. The searching they did paid off and he didn’t have stop for help. When they arrived at the address they were looking for, they liked the home they saw – and made an offer to buy it.
This will be the fifth time in seven years Dave and Linda are moving. You see, they’ve made some decent money buying homes, fixing them up and living in them for a short time, then selling them. “Every time we do this we make a profit tax-free because we’re selling our principal residence,” Dave boasts.
I’ve seen this strategy before. Investing in real estate is something that many Canadians understand. They also understand the tax break known as the principal residence exemption (PRE), which can allow each family unit to sell a principal residence free of tax. It seems natural to take advantage of this tax break by purchasing a home, fixing it up or otherwise increasing its value, then selling it for a profit. Then repeat the process. What’s not to like about tax-free profits?
This strategy is not foolproof. There are cases where the Canada Revenue Agency (CRA) has taxed these profits as business income.
On Sept. 6, 2012, in the case of Sylvie Giguère (tcc-cci.gc.ca), Ms. Giguère and her spouse lost a court battle on this issue. The couple had sold seven single-family residences within a six-year period, claiming the PRE on each sale.
In this case, they had owned the properties for periods ranging from just over three months to just under two years. CRA successfully argued that the profits should be taxed as business income and that, in addition, gross negligence penalties should apply for failure to report the income.
In this case, the court concluded that the intention of the taxpayers was to buy the properties and sell them for a profit, not to live in each property as a principal residence. This intention, along with the frequency of their “flips” led the court to the conclusion that, for this taxpayer, the real estate sales were an “adventure in the nature of trade.”
If the taxman considers your activity to be an “adventure in the nature of trade” he’ll look to tax you on any profits as business income. In its publication IT-459, Adventure or Concern in the Nature of Trade, CRA says that: “It is a general principle that when a person habitually does a thing that is capable of producing a profit, then he is carrying on a trade or business notwithstanding that these activities may be quite separate and apart from his ordinary occupation.”
The court case Happy Valley Farms Ltd. (1986) established certain criteria as the benchmark for taxpayers and the CRA to consider when assessing whether an activity is an adventure in the nature of trade.
That decision established the following criteria to look at: (1) the nature of the property sold, (2) the length of the period of ownership of the property, (3) the frequency or number of other similar transactions by the taxpayer, (4) the work expended to make the property more marketable or to attract purchasers, (5) the circumstances responsible for the sale of the property, and (6) the taxpayer’s motive or intention at the time he acquired the property.
It appears that, in the case of the sale of principal residences, the courts and CRA look most closely at your intention at the time you purchased the properties and the frequency or number of times you’ve completed similar transactions.
If you’re going to buy and sell properties and you hope to use the PRE to shelter the properties from tax, be sure to look at the six criteria established in the Happy Valley court decision and structure your transactions accordingly.
Whether you’re looking for a quick pick-up on the way to work or a relaxing brunch on the weekend, there are plenty of amazing restaurants to choose from in Ottawa. We did some research on Yelp and came up with a list of the top-rated breakfast restaurants near you. Check one out today!
buy modafinil in malaysiabuy modafinil in singapore is located at 510 Bank Street in Ottawa, Ontario. This address is in the K2P 1Z5 area. For more information, call 613-231-7959. They are open Monday – Friday from 7 AM – 3 PM and Saturday – Sunday from 8 AM – 3 PM. Because they strive to use the freshest ingredients, the menu changes per what is available. The Classic Breakfast comes with eggs, beans, meat of your choice, homies, and toast. Other options we spotted include French Toast, Florentine, and Daily Frittata. Beverage choices include Americano, Latte, London Fog, and Chai Latte.
buy modafinil in china is located at 388 Albert Street in Ottawa, Ontario. This address is in the K1R 5B2 area. For more information, call 613-914-7453. They are open Monday – Friday from 7:30 AM – 2 PM and Saturday from 10 AM – 2 PM. They update their menu each week with fresh new items. They offer vegetarian options and bake Gluten-free English muffins. Menu items we spotted include Mushroom Melt, Raisin Toast, Granola Cup, Breakfast Muffin, and Breakfast BLT. Order up an Espresso, Americano, Latte, or Tea.
buy modafinil israel is located at 119 Murray Street in Ottawa, Ontario. This address is in the K1N 5M5 area. For more information, call 613-789-6797. They are open for brunch of weekends from 10:30 AM – 2:30 PM. They are located behind the Byward Market, and they serve up a luxurious brunch. Brunch items include Benny’s Salmon Gravlax, Savory Buckwheat Crepe, Confit Albacore Tuna, and Double Smoked Bacon & Fingerling Potatoes. Don’t forget to order a Mimosa or Kir Royal with your meal. Menu is subject to change.
buy modafinil in mexicobuy modafinil in store is located at 117 Beechwood Avenue in Ottawa, Ontario. This address is in the K1M 1L6 area. For more information, call 613-695-6804. They are open Monday – Friday from 7 AM – 6 PM and Saturday – Sunday from 8 AM – 5 PM. Menu items are inspired by the seasons. Breakfast options we’ve spotted include Yogurt & Housemade Granola, Vegan Chia Seed Pudding, Overnight Pats, Scone Board, Kettleman’s Bagel with Smoked Ham, and Breakfast Sandwich. They serve a variety of pastries, cookies, and other baked goods.
buy modafinil in pakistan is located at 255 Montreal Road in Ottawa, Ontario. This address is in the K1L 6C4 area. For more information, call 613-740-9333. They are open Monday – Friday from 6 AM – 8 PM, Saturday from 7 AM – 7 PM, and Sunday from 7 AM – 3 PM. This local favorite is noted to have some of the best coffee in the area. Delicious diner menu options include Eggs Benedict, Waffles, French Toast, and Omelets. Beverages include coffee, tea, herbal tea, milk, hot chocolate, and canned pop.
This list of top-rated restaurants is brought to you courtesy of Michael Lewicki. Keep him in mind for all your real estate needs.
The best source of information about local communities and real estate topics is your real estate agent. Give Michael Lewicki a call today at 613-829-1818 to learn more about the area, discuss selling your house, or tour available homes for sale.
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As a seller, you get one chance to make a first impression that makes a potential home buyer want to see more of your house. Staging your home is one way to make your home more appealing to buyers. You may think that staging your house will empty the bank account, but here are some money saving tips to help you stage your home on a budget.
Begin with Curb Appeal
Grab their attention as soon as they pull into the driveway. Charm them with the outside views, and they will be happy to check out the inside of the house. Quite a few of the items in this list will cost you nothing but effort and time. That’s good news for the wallet.
- Look around the property with a critical eye and remove unnecessary decorations, toys, and debris.
- Store bicycles, skateboards, and other riding toys.
- Freshen the flowerbeds with new bedding.
- Keep the lawn and shrubs neatly trimmed.
- Plant few colorful flowers. Place a nice potted plant on the porch.
- Rearrange outdoor seating areas in conversational settings.
- Make sure all the outdoor lighting is working correctly. Replace any burnt out or dim bulbs.
- If you have a pool, keep it free of debris.
- Clean outdoor grills or cooking surfaces.
Kitchens Sell Houses
If you’ve ever watched a home improvement show, you know how important kitchens are to potential home buyers. It doesn’t cost anything to deep clean your kitchen and do a few things to make the space more appealing.
- Clean the space where appliances meet your cabinets and counters.
- Clean above cabinets, wipe down baseboards, and clean the stove vent.
- Check the drip pan under your refrigerator.
- Replace burnt out or dim bulbs.
- Keep the area around the sink free of sponges, clothes, and scrubbers.
- Remove magnets and photos from surfaces in the kitchen.
- Organize your cabinet and pantry items.
- Remove any themed decor and keep things neutral.
- Remove distractions and obstructions from kitchen windows. Natural lighting is a big plus.
Make the Living Room Special
Look at your living room with an objective eye. Making the following adjustments won’t cost you a thing, and they could make all the difference when a buyer sees the room.
- Remove large furniture pieces that make the room look crowded.
- Clean windows, blinds, and curtains.
- Remove personal collections and photographs from the room. Potential buyers want to see themselves living in this space.
- Put away toys. If you have small children, this could prove a challenge. Make picking up toys with a moment’s notice a game.
- Dust and clean lamps, ceiling fans, and baseboards.
Neutral Bedrooms are Best
While you may adore the bright pink bedroom, the chances that you’ll find a potential home buyer who feels the same is slim. It’s worth investing in a few cans of paint to make things appeal to a broad range of buyers. Painting will cost you a bit of money, but there are other things you can do that won’t.
- Clean out the closets. Remove all items from the floor. Organize clothing. It’s a plus if all your hangers match.
- Remove large pieces of furniture that make the room look small.
- Put away hampers and baskets.
- Remove personal collections and themed decorations.
- Remove anything from your closets or drawers that could prove to be embarrassing for you or a potential buyer.
With a bit of time and effort, you can make things look appealing without cleaning out your bank account in the process.
The best source of information about local communities and real estate topics is your real estate agent. Give Michael Lewicki a call today at 613-829-1818 to learn more about the area, discuss selling your house, or tour available homes for sale.buy modafinil japanbuy modafinil in kenyabuy modafinil london
Buying a house is a grand adventure that places you in new situations and allows you to meet new people. You’ll have many opportunities to learn real estate terms and increase your knowledge about the home buying process. One term you’ll hear often is closing costs.
What are closing costs?
The sum of all the service fees accumulated during the home buying process is referred to as the closing costs. No one person decides this amount because it’s the sum of fees for services provided by a variety of professionals and businesses. You’ll pay the closing costs on closing day. This is the day when you sign all paperwork, pay fees, and receive the keys to your home.
Who pays closing costs?
It’s important to prepare ahead for closing costs because you’ll be expected to pay these out-of-pocket. There are times when the seller will agree to pay all or part of these costs. If this is the case, it will be noted in your contract. Being willing and able to pay these costs could work in your favor if you come up against another buyer who is trying to outbid your offer.
What is a good faith estimate?
Your home mortgage lender provides a good faith estimate of the closing costs at the beginning of the home buying process. You can expect closing costs to be between two and five percent of the selling price of the property. This initial estimate provided by the lender is subject to change. Expect it to increase substantially by the end of the transaction. Before closing day, you’ll receive an itemized list of all fees. Go over this list with your real estate agent to make sure there are no over-charges or errors.
What are the typical closing costs?
- While it’s difficult to pinpoint every single fee that may be included in the closing costs, here is a list of items you may see included.
- Credit Report Fee – To determine your credit worthiness, the lender runs your credit reports. Some lenders cover this cost, but you may see it included in the closing costs.
- Attorney Fees – The attorney that works with you during the real estate transaction has fees that cover time on task and other specifics.
- Origination Fee –Any paperwork or labor required by the lender who is processing your mortgage loan is included in this portion.
- Title Insurance – The mortgage lender will secure title insurance for protection in case something is wrong with the title of the property.
- Title Search Fee – Completed by an attorney or other professional, a title search ensures there are no liens or negative issues with the title.
- Survey Fees – To make sure the size of the property and the borders are correct, your lender may order a survey of the property by a professional.
- Appraisal Fee – A professional real estate appraiser is hired to verify the value of the property. This is ordered by the mortgage loan lender to make sure they aren’t paying more for the property than it’s worth.
- Home Warranty – A seller sometimes offers this as an incentive for buyers. If not, you may choose to purchase one of these to give yourself peace of mind during the first year that you own the house. If anything needs repair or replacement, the home warranty company steps in to handle things.
- Escrow Deposit – This is the amount of any taxes or insurances required by the lender.
- Inspection Fees – Inspectors will be called in to check for damages, systems that aren’t working properly, and insects. The costs for these services will be included in the closing costs.
The best source of information about local communities and real estate topics is your real estate agent. Give Michael Lewicki a call today at 613-829-1818 to learn more about the area, discuss selling your house, or tour available homes for sale.buy modafinil legitbuy modafinil liverpoolbuy modafinil online