Category Archives: Real Estate

1 Yorkville Condo

1 Yorkville Condo

Units are selling now, please follow the like to the official sales sit

We build condominiums that exemplify luxury, creativity and community.  According to our architect Rosario Varacalli, “1 Yorkville Condo will stand out from other projects in Toronto because of three things: preservation, porosity and changing perspectives.”

One Yorkville Condo Preservation
Yorkville has a rich history and it’s important to us that we respect heritage. We are preserving and restoring a collection of very refined Yorkville Village buildings that date back to the 1860s.

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Realtors and the National Associatioon

The Securities and Exchange Commission (SEC) may agree with the National Association of REALTORS (NAR) and other industry professionals – that commercial REALTORS should be allowed to sell Tenant in Common (TIC) securities and receive a commission. NAR has been negotiating with the SEC to determine a process by which real estate brokers can legally be paid commissions on TIC security deals. Under the SEC exemption, REALTORS, who are predominantly engaged in and have substantial experience in the commercial real estate market (see below), can offer TIC securities to all individuals; not just accredited investors, and receive referral fees from TIC broker sponsors. The SEC exemption further states that: · REALTORS must have an investor sign an agreement allowing the real estate broker to advise him/her on TIC deals being sold as securities. · The REALTOR cannot advertise TIC investments. · The securities broker dealer determines eligibility of the investor. · The seller discloses and pays the buyer’s broker a referral fee. · The REALTOR must show the buyer traditional real estate opportunities as well as TIC deals. · The REALTOR must also be familiar with commercial real estate investments.

Prior to the exemption, only real estate brokers who were registered as securities brokers with the SEC and real estate brokerage firms as securities broker-dealers were able to sell, and earn a referral, from TIC deals. Investors who like TIC deals are passive; they prefer the freedom of not having to deal with property management issues and tenant concerns. The SEC exemption application defines “substantial experience” to mean a commercial real estate professional who has received a Certified Commercial Investment Member (CCIM) designation, or a designation from the Society of Industrial and Office REALTORS, or an Accredited Land Consultant designation from the REALTORS Land Institute.

Equivalent education and transaction experience can substitute for commercial real estate professionals who do not have any of those designations.

For example, a professional who has participated in at least five commercial real estate transactions having an aggregate value of at least $3 million in the prior five years, or at least 10 commercial real estate transactions having an aggregate value of at least $10 million in the prior 10 years, can sell, and an earn a referral, from a TIC deal. The TIC investment industry has grown exponentially since the issuance of Internal Revenue Service Procedure 2002-22 in March 2002. The sale of TIC interests in commercial properties has grown from $163 million in equity placements in 2002 to over $8 billion in 2007.

The SEC exemption will open a number of opportunities for new revenue. Be cautious, however, to only work with a TIC sponsor who understands the industry and one that has a successful track record. Increased real estate commerce, controlled cap rate compression, impressive occupancy rates and expanding job growth, are all indicators of a strong market for TIC investments. But, do you have access to that specific research? The relationships? The deals? You can!

Real Estate and Flipping Houses

What’s involved with flipping houses?

There are a few key points that need to be known if you’re planning on flipping houses. The first is financing and money management. The whole idea behind house flipping is that at the end of the project, a profit will be made. If you’re spending more money on renovation, land and labor, then you are never going to see that profit. The age old rule of buy low and sell high applies here. The majority of people who flip houses buy their houses from foreclosures which helps to ensure that a lot of money is saved when buying the actual property. These houses are generally in pretty good condition and most will only need a few touch ups here and there before they’re ready to be put back on the marker

The second major factor when it comes to flipping houses is the restoration or renovation of the house itself. A lot of the times, this is the most costly part as the houses are generally bought fairly cheaply from foreclosure sites or from desperate sellers.A clear budget needs to be laid out to ensure that the minimum amount of money is spent on renovating and restoring the house. Materials and labor will be the biggest money sinks when flipping houses. To save the most amount of money possible, some people even decide to renovate the houses themselves, thereby eliminating all costs needed to hire a work force to do the work for you.

One of the best benefits of doing all the work yourself, besides saving a load of money, is that the risk of hiring a shoddy contractor is completely eliminated. If you do decide to hire a contractor, no matter what their profession, you should always ask for a list of references and if possible, a portfolio of their previous work to make sure that they aren’t going to leave you with any nasty surprises when you are flipping houses.

A few things to look out for when flipping houses

When you’re flipping houses, there are a few things that you should always be wary of. They include, but aren’t limited to:

  • Over pricing your work. You may think that all the work that you’ve put into the house is worth a couple of extra zeros on the end of the price tag, but by over pricing and over evaluating the work that you’ve put into renovating or restoring a house, you run the risk of not selling it at all
  • When flipping houses, it is important that you don’t skimp out on the important things in order to save a couple of dollars. While the cheaper materials may seem attractive while you’re restoring a house to flip, the chances of them causing you troubles down the line is increased.
  • And finally, while you’re flipping houses, make sure that have a clear time table set out before you start a major project. A time table as well as a brain map are great resources that can save loads of time and money simply be keeping you and your workers organized while flipping houses.

There is a lot of confusion between HAMP and HAFA

There is a lot of confusion between HAMP and HAFA. HAMP is the Home Affordable Modification Plan and HAMP is the Home Affordable Foreclosure Alternative program. Under one program (HAMP) you are trying to get a loan modification on your loan/s. Under the other program (HAFA) you are trying to find an alternative to a foreclosure by selling your home using the short sale process or giving your property back to the bank using a Deed in Lieu of foreclosure.

If you qualify under HAFA to sell your home and your lender is identified as subscribing to the HAFA program, you, as the borrower will be fully released from all liability for repayment of the loan.

Because, in any case, there could be significant tax and credit issues, it is always best to check with your attorney and tax adviser as to your personal situation.

Beware of Short Sale Scammers

Because of the large number of short sales and because they promise to remain strong for the next five years, they are the perfect playing field for unscrupulous scammers.
Unlicensed “Short Sale” negotiators are approaching homeowners in distress and asking for upfront money to negotiate with lenders. This is illegal. Only attorneys and licensed brokers can ask for money up front – and only after the Department of Real Estate approves the agreement with an individual seller.
These “so called” Short Sale negotiators, including some real estate agents are lowballing offers to overwhelmed banks. This is called “flopping.” The home is then flipped to a waiting buyer for a much higher price. Beware when you are asked to use one of these “floppers” title companies. This could be a clue you are involved in a flop.
Another practice that is happening with regularity is that often the holder of a 2nd mortgage on the property is demanding extra money outside of escrow in a “secret deal”, because they don’t want the primary lender to know. If you don’t play ball with them they will refuse to approve the sale. It is out and out blackmail and extortion. The government really needs to crack down on this practice.
Some homeowners, especially savvy, well-off owners who owe far more than their houses are worth, are hiding savings and income to persuade lenders to agree to short sales. Many can afford their mortgages, but know it will take them years to recoup their 2006 values.
If someone asks you for money to negotiate a Short Sale, you should probably look elsewhere for help. HELP IS FREE! There are many well qualified people who can help for free. Look for an agent who holds a CDPE or SFR designation. These agents have been trained to help you through the process.

Can you guess the 10 most recession proof cities in the U.S?

What characteristics do the 10 Most Recession-Proof U.S. Cities have in common?

The most recession-proof cities didn’t see home prices surge in the first place, so they didn’t experience a big housing bubble followed by a crash, and their economnies weren’t rooted in the auto industry.

The top 10 stable cities identified by MetroMonitor are:

1. Albany, N.Y.
2. Augusta, Ga.
3. Austin, Texas
4. Baton Rouge, La.
5. Buffalo, N.Y.
6. Columbia, S.C.
7. Dallas, Texas
8. Des Moines, Iowa
9. El Paso, Texas
10. Honolulu

The Ontario Home Ownership Savings Program

There are some government programs in place such as the Ontario Home Ownership Savings Program (OHOSP). If you or your spouse have never owned a home, before this Government of Ontario program will help you save for your first home, whether it is new or resale, provided the price does not exceed $ 200,000. This is achieved by receiving a tax credit of up to $500 annually, depending on your income and the amount that you invest into the OHOSP. Each individual can invest as much as they want into the plan however you will only receive a tax credit on up to $2,000 annually, of $4,000 per couple into the plan. For further information, see your local bank for a brochure.

Typically, this program is only open to Ontario residents, that are over 18 years of age, and are earning less than $40,000 per year, or if you and your spouse have a combined income of less than $80,000 per year. You must have a social insurance number and you or your spouse have ever owned an eligible home anywhere, whether it was occupied or not and neither of you have previously help an OHOSP.

You can be considered a spouse is you have been living in a common-law relationship for at least the past 12 months, or you are living together and are the parents of the same child. If you or your spouse have previously owned a home, you can not participate in this program.

The plan must be closed and the funds used to purchase a home by the end of the seventh year, otherwise you will have to repay your OHOSP tax credit with interest. You must contribute by December 31 of the current year in order to receive the tax credit in the year of contribution. If you close your plan without purchasing a home, you are not eligible for an OHOSP tax credit for that year. You will receive 75% of the funds in your plan from your financial institution. The balance of 25% is forward to the Ministry of Finance for a tax recovery credit. Any balance owing (with interest) will be returned to you.

Eligible homes include detached or semi-detached homes, townhouses, mobile homes with permanent foundations, condominiums, shares in co-operative housing units or duplex, or triplex.

The Land Transfer Tax refund was originally a part of the plan but it has been discontinued, however if your plan was opened prior to January 1, 1994 you may still be entitled to this refund.

Realty Directory Guide

Companies, real estate agents and listings of fractional ownership,cottages, homes, properties,  and commercial businesses for sale, can register today at Realty Guide to have real estate traffic driven to their site.

Realty guide is vast and quickly growing real estate directory, register today before the free listings expire.

Providing a wide variety of categories, potential partners can list their business in very specific and targeted traffic areas. Realty Directory Guide will help your website grow to new heights.

Register today and see your real estate traffic grow at Realty Directory Guide

Realty Directory Guide

Realty Directory Guide

Luxury Real Estate

When you are looking at homes online, what’s the first thing you do? You look at the huge ones!

When you go to the Parade of Homes, where do you go first? You go to the mansions, of course! Most of us wouldn’t actually move in, but they’re the funnest to look at.

On that note, there is website that you have got to see. UtahLuxury.com showcases the finest that Utah has to offer. The showcase on the front page is a visual feast, and it only gets better as you click on each home. I spent quite a bit of time on the site and was awed by the architecture and design of some of these homes. Shouldn’t some of them be museums instead?

I really don’t know what else to say – you just have to see them.

Best U.S. Cities To Buy Real Estate And Homes

Eager to know the leading cites in America where one can safely invest? Here are the greatest real estate markets in the entire country according to a recent report from Company Magazine. The magazine lists the top ten cities that are perfect to get a house. These are – Panama City and Vero Beach in Florida, Bridgeport in Connecticut, Lakeland in Florida, McAllen in Texas, San Luis Obispo in California, Wilmington in North Carolina, Manchester in New Hampshire, Fort Collins in Colorado and Atlanta in Georgia. The report cites the appreciation rates of home costs projected over a period of five years.

Florida enjoys the status of having 3 of the leading four cities to invest in. Panama City, which tops the list of greatest places to acquire real estate is expected to have a real estate appreciation of 72% over the next five years. Main real estate development projects such as the constructing of a new airport and low property prices are expected to increase the economy and the housing marketplace.

Vero Beach, projected to have an appreciation of 64%, comes second for its superb weather, low property taxes and a lower cost of living. Lakeland, with a 59% projected gain in residence costs is a tempting option with houses selling for a fifth much less than the national median cost.

Acquiring a property in Bridgeport, CT is a bargain now with median home prices at a extremely low ,000 compared to the rest of the Fairfield County. Residence costs in McAllen, TX which holds the fifth location, are expected to soar by 57%.

It is estimated that houses in the McAllen, TX region may appreciate 57 percent with an improve in the median residence cost from ,000 to 9,000.

Homeowners producing an investment in San Luis Obispo, California, right now, are expected to get a very good appreciation (40%) on their houses over the next five years.

The median property cost in Wilmington, NC is expected to increase to 7,000 by 2011, up from the present price of 7,000, an boost by 37%.

Manchester, NH, which has twice been rated as the ‘best place to live’ in America by Money Magazine, sits at eighth place with an expected appreciation of 35%.

Fort Collins and Atlanta follow in the ninth and tenth locations of leading cities for real estate investment in the USA. Fort Collins, 1 of the most common cities in America, has been ranked as the ‘No.1 little city’ this year by Cash Magazine. Recent price reductions in the housing market makes ‘now’ the very best time to buy a residence or condo in this city with an estimated property appreciation of 28%. Atlanta is poised for a significant appreciation too with an expected rise of up to 24% in house prices over the next five years.

So, if you are a prospective homebuyer set to take a plunge into any of the leading ten real estate markets, it is the right time to enlist the services of a great real estate agent who can guide you via the complicated residence acquiring procedure.

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