The Duncan Fremlin Blog

Last Will & Testament

You have a will, don't you?  What?  You don't?  Are you out of your mind?  Don't you love your family?  Or are you one of those types who want to inflict grief on your family long after you're dead? 

If you have assets of any value and you have children and/or siblings who value your "stuff", do them a big favour and draft a detailed will outlining exactly who gets what.  Don't leave the disbursement of this "stuff" to the sole discretion of the Executor, particularly if it's one of the family.

I'm in the middle of preparing a house for resale and I'm representing the Executor.  This is not  a pretty scenario.  Being a Realtor, I'm often on the front line of an ugly battle and I seldom see a winner emerge from these things.  In this case there is a will but it's hand written and poorly drafted.

I won't get into the sordid details but this is not a pleasant or orderly process for anyone involved.

I've sold many houses for "the estate of" over the years.  If there is a clear and concise last will and testament with an executor that is preferably a non family member, it usually goes smoothly.  If there is real estate involved, I highly recommend that the deceased pay particular attention to how this is to be divided up.  If there are potential disagreements over it's value or who contributed what over the years or who took care of mom and dad or whatever, then please leave instructions for the house to be liquidated before the funds are distributed.

When family members disagree on what items are worth or how they should be dealt with, quite often brothers and sisters end up never speaking to each other again.  This will not occur if it is attended to if the will is clear on how these things are to be attended to.  If the executor is a lawyer or someone once removed from the family, then they will be in a better position to make tough decisions that are in the best interest of all the heirs.

Reminiscing in Radio

In our quest to make Bach In The Saddle Again the most successful concert series in the world, the Gala String Quartet (or at least two of them) and Whiskey Jack (or at least 5 of them) visited Steve Fruitman, host of Back to the Sugar Camp on CIUT-FM, 89.5. 

As you can see from the photos, the confines were "old time radio" style in their decrepitude (is that a word) and their drabness.  Many of us there last night had many experiences with the old CBC Jarvis Street studios and we shared fond memories of our times with Peter Gzowsky, Don Harron, Vicki Gabereau, Joe Cote and the like. 

We learned last night that CIUT is relocating to the top floor of Hart House where the studios will be clean and modern with up to date technology.  All in all, the station should operate more efficiently.

Seven of us (actually 8 if you include the cello) crowded into this tiny room and belted out a few tunes to the listening audience.  To hear the damage, the pod cast is available here. 

Whiskey Jack was interviewed by all of the famous CBC broadcasters I mentioned  and much of it is fresh in my mind.  Gzowsky for example was barely visible through the cigarette smoke.  Harron on the other hand was visible.  I just wasn't sure he was awake.

They were grand old times never to be seen again.

Internet more valuable than ever

Each day, I receive at least one email from an agent asking if I have a buyer for their "motivated" seller.  As I mentioned before, they sometimes offer incentives like larger commissions, barbecue's, teak garden sets and I even heard recently of a car being offered.

In the email I received today, the agent was advertising a $60,000.00 price reduction on a house that was listed at least $60,000.00 too high in the first place.  You can see that I'm not particularly impressed with these mammoth reductions.  I can't help but think if they were so darn motivated, why didn't they price it right in the first place?

The agents are using the Internet to advertise these tactics because they can focus on those that are actually working their area and in particular, they can focus on agents that are actually selling houses.  It's easy and it's cheap!  It's also quick and doesn't require a more systematic approach to selling a difficult property.  The problem with this is that it's too passive.

The new reality is that  passive isn't good enough.  This is a market that requires a more proactive approach. 

For example, if I had a duplex for sale, I'd search on the system for other duplexes presently listed and I'd call the listing agents.  Those agents would have been accumulating prospects from their sign, their ads and the Internet.  They even have a list of selling agents who showed their listing to buyers looking for a property like this.  I'd offer up a trade.  "I'll call my leads and tell them about your duplex if  you do the same.  I'll even call the agents who showed my listing and tell them about yours if you do the same.  Better still, I'll trade those names straight up."

There's something much more real about a phone call to someone who matters than an email to hundreds who don't.   

Commercial Real Estate

Searching for Commercial real estate, be it for lease or for sale, is dramatically different than the residential side of the business.

The biggest and most frustrating obstacle is the lack of a centralized listing site.  Yes, I can search on the Toronto Real Estate Board site but many of the available properties are not there.  It seems that commercial agents have this annoying habit of hoarding their available listings and not sharing them except by networking and word of mouth. 

I'm presently working with a couple of keen and wise investors who are looking to expand their operation into the downtown Toronto market.  In my quest to find them a good space, I called the Commercial specialist here at RE/MAX Hallmark, the manager of our Fairview Avenue office, Steve Tabrizi.  

Besides being a brilliant communicator (he teaches a popular Commercial real estate course here at Hallmark), Steve has extensive commercial experience with knowledge of franchising and related activities.  We met yesterday for an hour or so and that short meeting probably saved me a few days work.

So it was quite opportune that today's Globe and Mail had an article on searching for commercial real estate. One site they identified is particularly good.  ICX.ca, according to the article, "was launched in 2003 by CREA and now lists 90,000 commercial properties for sale and lease across the country."

After a few short minutes on this site, I have four possible properties to introduce to my clients. 

Different Approach to getting a house sold

Challenging times demand creative solutions to difficult problems. 

I received an email from an agent this morning informing me she has two sellers who have offered a bonus to the agent that sells their house.  She was also given permission to tell me the sellers have bought and closed on their new house and they HAVE to sell their home.

This email caught my attention right away. 

I had a look at the listings in question and they're way overpriced so I'm not sure if this new offer will work.  I somehow doubt it.  They can offer the selling agent any kind of commission they want but if the asking price is ridiculously high, it won't make any difference. 

Then, a few hours later, I received another email from an agent.  His sellers are offering "buyer incentives".  Included with this house, that may or may not be overpriced, and that has been listed for sale for almost a month, and that has been reduced from $419000.00 to $377,000.00 is the following:  "Broil King BBQ and cover, 5 piece Teak patio set, electric lawnmower, gas weed eater, all pots and gardening tools, screened in awning for second deck. 4 piece Plastic patio set and umbrella."

Let's see now.  That "stuff" is worth, oh, say $2,000.00 (and I'm being generous here)?  If I was a buyer, would this inspire me to offer on the house? 

This isn't the Lastman Bad Boy operation we're dealing with here.  Scrap the incentives.  If the seller absolutely has to sell this house and if it hasn't sold after 30 days in spite of a $42,000.00 reduction, it's time for a reality check and soon.  Christmas is coming and getting buyers into this house is not going to get any easier anytime soon.

The question the seller has to have answered honestly is "how much is it really worth?".

 

More Buyers Not Deterred

In yesterday's Toronto Star, Michael Moldenhauer, president of the Building Industry and Land Development Association wrote about October statistics for new home sales.  He noted that 2,111 buyers signed up to buy a new house or condo and certainly, to those of us who refuse to be manipulated by the alarmist headlines, this is good news. 

 

In his view, this "suggests that savvy home buyers are taking a long-term view of the market".  

 

In the resale department, there were over 2000 transactions in Toronto in October.   This means there were over 4000 buyers and sellers who entered into a binding real estate contract.   Who the heck are these people?

 

The buyers are people who do not want their cash in stocks, banks or mutual funds.  They want it in a prime piece of  property that has immediate value and represents the single most reliable investment anywhere, anytime.  They say "I can't live in a Mutual Fund".  (I love that line.)

 

The sellers are relocating, divorcing, marrying, downsizing, up-sizing, dying or going through any number of personal experiences.    Occasionally, though not often, the bank or lender has taken possession of a property and listed it under the Power of Sale legislation.

 

To those of you fence sitters who are waiting for the "right"  time to move.   How are you going to know when that "right" time is?  Is there a formula that you can follow?  Will a star in the sky magically appear or will a booming voice from on high yell down, "NOW!  BUY NOW!?  

 

The answer of course is no.  The only thing you can be certain of is, the Toronto real estate market is a buyer's market NOW.   All other bets are off. 

 

There's Busy.... and then there's BUSY!

I'm busy.  However, not in the way I like to be. 

Being self employed, if there isn't business happening around me, I have to "make" business.  I'm lucky.   This profession allows me to do this.  I'm not sure Hummer salesmen can "make" business in the same way.

Also, by "making" business, I'm actually helping my clients make good decisions by offering on shrewd investments which in turn will make them money.  This my friends is a very good thing. 

So, how do I make business? 

I begin by knowing my product.  This allows me to quickly identify value.  I can do this in a matter of seconds.  Sometimes it takes a bit of research and so it might take a few minutes but generally, this is not a long process.  Sometimes it happens when I walk through a house.  Often it happens when I see a new listing on my computer screen.  What takes time is analyzing my data base and identifying prospective clients who might be interested in this opportunity. 

The other thing I can do to make business is talk to as many people each day as possible.  When life is scary and nerve wracking, human beings cluster together for reassurance and so when I call around, 99/% of the time, the person on the phone is friendly and talkative.  I want to know their thoughts and they're keen to learn about what's going on in real estate.

For example, yesterday I called a client who I met door knocking over 15 years ago.  We chatted for a few minutes and I told him about the recent changes in how lenders qualify borrowers.  They're being a bit more particular than they once were.  He was pleased to hear this because he was recently asked to lend a friend $300,000.00 as a mortgage on a house and he wasn't sure he wanted to do it.  I exclaimed "you have $300,000.00 cash in the bank"?  One thing led to another.  I am now looking for a $300,000.00 investment property for him.  He's a smart guy and knows where his money is most secure.

Don't forget.  You can't live in a Mutual Fund.

Message about Toronto Real Estate from RE/MAX Head Office (Headquarters)

This is good stuff.  

November 18, 2008.

Toronto Real Estate Board stats for October created some heated dialogue in the industry in recent weeks. While many believe that the dismal statistics reflect the recent volatility in financial markets, some are now asking if they also identify an emerging trend in the Greater Toronto Area.

The simple answer is no. Although there are some serious negative factors influencing the marketplace, one month does not make a market. We need several consecutive months of momentum – one way or another – before we can really determine the direction of the market.

Make no mistake. 2008 has presented our industry with challenges across the board. Unit sales are down 16 per cent from one year ago, hovering at approximately 70,000, while average price at $380,654 is up marginally over year–to–date figures for the same period in 2007. And the prognosis will get worse before it gets better, considering the new land transfer tax rate implemented in January, 2008 artificially inflated housing values during the fourth quarter of 2007. Average price hovered close to $400,000 in October, November, and December of last year – which will be the measuring stick in the months ahead.

Clearly, market conditions have shifted in favour of the buyer. There are more homes listed for sale than one year ago and houses are taking longer to sell. Our forecast for 2008 – released in October of 2007 – said as much.

Sellers are adjusting to new market realities – albeit reluctantly – while buyers are taking it all in. Some are sitting on the fence, waiting for housing values to fall further or interest rates to decline a percentage point or two more. The courageous are jumping into the market, taking advantage of lower prices, greater selection, and less competition.

For those that are trading in the same market, it’s all relative. Sellers may get less than they thought for their homes, but they’ll also pay less on the other side of the transaction. With market conditions stabilizing, first–time buyers now have the luxury of time in making their housing decisions. They also have greater purchasing power than they had one year ago – and their dollar will go much farther.

Unlike other investment vehicles, residential real estate serves two purposes. It’s still considered an investment, but it is also a roof over your head. We know from past experience that housing appreciates at a rate of five per cent annually. It’s cyclical, so it may rise and fall, but the risk involved will never be as steep or as serious as in the stock market, where the value of your portfolio can drop 30 per cent overnight and some of your stocks can fall to 0. You also can’t live in your mutual fund.

Real estate in the Greater Toronto Area has faced many challenges over the years but continued to experience steady growth. In 2009, there are some announcements that are expected to have a positive impact on the housing market and they are as follows:

1. The Bank of Canada has indicted that lending rates may fall further in 2009.
2. Federal government intervention in the form of a $75 billion mortgage purchase from the CMHC will free up additional credit.
3. Measures will be introduced by both the Federal and Provincial government to bolster the economy. In Ontario, that could mean a bailout package for the ailing manufacturing sector.
4. A lower Canadian dollar – hovering at 85 cents American – may provide a much–needed boost to manufacturing.
5. Job employment rates continue to hold steady in the GTA, despite upward momentum at the provincial level. The unemployment rate was 6.8 per cent in October, down from 6.9 per cent in September.
6. Population in the GTA continues to grow through migration, with 60,000 plus households expected to form in 2009.

Last, but not least, we must remember that the Greater Toronto Area generates about 10 per cent of the country’s total wealth – that’s comparable to what New York, Chicago, Boston, and San Francisco make to the US economy. There’s no question that we are a world–class city – in a have–not province. We may be in for some challenges over the next six to nine month period, but we should see clear signs of recovery by late 2009. The good news is that lifecycle events will continue to occur, whether real estate is experiencing a bull or bear market.

Sincerely,

Michael Polzler
Executive Vice President and Regional Director
RE/MAX Ontario-Atlantic Canada Inc.

Another Book on Happiness? Give it a rest.

Tonight, the Borden Book Club meets to discuss another book of "non fiction".  This time it's Stumbling on Happiness by Daniel Gilbert,  published by Alfred A. Knopf.  This Gilbert fellow is a psychology professor at Harvard and all I can say about that is "so what?"  It sure doesn't make him any smarter than anyone I know without a Harvard degree. 

This was not a fun read and with all his credentials and education, he contributed nothing to my happiness.  In fact, the book made me feel empty and cold.

Trying to describe happiness in empirical terms is like playing a hockey video game on a computer.  It is mildly amusing and interesting for a few minutes but ultimately has no meaning or substance and leads nowhere important.  You can't elbow a guy in the face on a computer screen and you can't achieve happiness by reading about it.  

My approach to happiness is simple.  Get up each day, treat your fellow man as you would like to be treated, elevate honour and integrety to the forefront of each act and decision and guess what?  The universe will unfold as it was meant to unfold.  Some of the day will be happy.  Some of it won't.  Sounds like life to me.

Experience tells me that if I think too much about it and structure my activities with happiness as the preferred destination, this will in no way increase my chances for happiness. 

Edith Wharton said it best:  “If only we’d stop trying to be happy, we’d have a pretty good time.”

Who's responsible for our moods? We are!

Years ago, when my kids were 7 and 10, they asked me to watch a movie with them.  It was Flatliners, a thriller about student doctors experimenting with how long they could induce heart stoppage without dying.  It was a tense movie.  When it was over, the kids were argumentative, annoyed and upset.  The movie had had an immediate impact on their mood, or state of mind.

This was not only a lesson for the, I too changed my own habits because of that movie.

As a commission salesman, I have no choice but to be enthused and upbeat about all things at all times.  If I'm discouraged and down, this will influence my effectiveness as a Realtor and I can't let this happen.  Therefore, I only read what I must and only listen to newscasts that I must.  The alarmist headlines and desperate columnists do not contribute anything of value to my life as far as I can see so I avoid them, and I'm a better man for it. 

I thought of all this last night.   We dined with a good friend who's worked in the money markets, at the  TSX, for 30 years.  We of course talked about the world and the money markets etc.  She mentioned that she is surviving quite nicely partly because she controls the information and non-information that crosses her desk each day.  We all agreed that the only fact we're sure of is, "no one knows for sure how this will play out".  My opinion in this instance is as good, if not better, than most of the so called specialists. 

So, to ensure I walk to work with a bounce in my step,  I alone determine how I will feel about my day.  I'm not going to rely on headlines.

CSPP - no, it's not a Baltic state

In real estate lingo, CSPP stands for Conditional on the Sale of the Purchaser’s Property. Since houses are now taking longer to sell, this condition is making a come back.

If I’m representing the Seller and we see this condition in an Offer, there are some questions we need to have answered before we proceed.

1. Do I have a possible client for the Purchaser’s Property in my present inventory of buyers? This is my favourite solution. It would prevent the need for this condition and it would satisfy all of parties involved.

2. Is this the right time to consider this condition? If the listing is new to the market and special in terms of style, location and asking price, the Seller might want the other active buyers to have a chance to view the house before proceeding. Why stigmatize (see #6) the listing unnecessarily?

3. Where is the buyer’s property? Is it ready to go to market? One of my duties as the Seller’s agent will be to inspect this home to see how salable it is.

4. What will be the asking price? If the buyer’s price is reasonable and they’re realistic and motivated, then the condition becomes less of an issue. I’ll also need to know if the buyer’s finances are solid. If they don’t have a lot of equity in their home and there’s a chance the deal won’t close, then obviously we need to know that before entering into an agreement like this.

5. Is the buyer’s agent skilled and experienced? This may not be a popular question to ask but it must be considered.   The Seller will need to be confident that everyone is doing everything necessary to get this house sold as soon as possible.  I too would expect to take an active role in this and solicit the resources of my own company and fellow agents.   The clock would be ticking.

6. Is the Seller aware of all the implications that accompany this condition? For example, we can continue to market the house. We can even consider other offers. However, should a second offer be accepted, the first buyer will then be given 24, 48 or even 72 hours to firm up his offer. Also, the sale (but not the price) and the CSPP will be public knowledge. Perhaps some buyers will be discouraged from offering on the house knowing someone else has first right of refusal.

The clause in question may look like this:

"This Offer is conditional upon the sale of the Buyer's property known as 1 Graceland. Unless the Buyer gives notice in writing delivered to the Seller not later than 6:00 p.m. on 4th day of July, 1975, that this condition is fulfilled, this Offer shall be null and void and the deposit shall be returned to the Buyer in full without deduction. This condition is included for the benefit of the Buyer and may be waived at the Buyer's sole option by notice in writing to the Seller within the time period stated herein.

Provided further that the Seller may continue to offer the property for sale and, in the event the Seller receives another Offer satisfactory to the Seller, the Seller may so notify the Buyer in writing by delivery to the Buyer or to the Buyer's address hereinafter indicated. The Buyer shall have 72 hours from the giving of such notice to waive this condition by notice in writing delivered to the Seller, failing which this Offer shall be null and void, and the Buyer's deposit shall be returned in full without deduction. "

If I’m representing the Buyer, there are other questions I’ll need answered.   More on that later.

Bach in the Saddle Again gets more press

Norm Nelson, a local reporter with the East York - Riverdale Mirror called me a couple of weeks ago.  He was reading the press release that I sent out and expressed interest in writing an article about the Bach In The Saddle Again show. 

The detailed and correct article on Bach In The Saddle Again is in today's edition, page 6, huge headline.  Click here to view it. 

This is amazing support from our local newspaper.  It's delivered to the door of every home in our neighbourhood.  Each area of the city has their own version of this publication. It's a Metroland Community Newspaper and the parent company is called Toronto Community News. 

If you want to know what's going on in your neighbourhood, this is the newspaper you turn to.

Photo of course by Gary Beechey from BDS Studios.

Do What It Takes To Sell A House!

When I was in Florida last March, I spent some time with an agent who has become one of my real estate heros, George Coloney.  He's making the best of a dreadful situation, that being the Florida real estate market.  In the process, he's selling lots of houses and condos.

I've written before about his new idea to attract buyers.  He's offering Canadian and foreign Realtors a full 3% commission if they send him qualified buyers for his listings.  Realtors (and all entrepreneurs come to think of it) are partially motivated by the earnings we receive so this has been very popular in the industry I'm sure.   This is simply one of the methods George uses to sell his listings but it's simply the market reacting to an obvious need - capitalism working as it was meant to.  

So, George is simply using this incentive to help his clients sell their homes in difficult times.  He's doing them a favour by charging more for his valuable services.  (Is that a stretch?  My friend Murray thinks so.)

Similarly, in today's Toronto market, some agents I've spoken to are beginning to have a new conversation with their sellers.  I'm referring to the idea of offering a bonus to the agent who brings them a buyer.     

I don't know the exact year but somewhere in the 1990's, we started to see the commission offered to the Cooperating Broker go from 3% to 2.5%.    Again, this was capitalism at work.

Today however, sales volume is down and the number of listings is up.  In a hot market, it was not unusual to get 35-60 showings within the first week.  That is 35 to 60 qualified buyers taking the time to view the subject property.  Wow.  That is a huge number.

Now, many listings are getting 1 to 3 showings in four weeks.  that's 1 to 3 qualified and interested buyers.  In fact, I'm sure many, certainly not mine, are not getting any showings at all.  If it's your house and you "have" to sell it, what do you do? 

Two things spring to mind.  REDUCING THE LISTING PRICE is the most obvious.  The second is to OFFER A HIGHER COMMISSION to the Realtors with motivated buyers.  The first motivates the buyers and the second motivates the agents.  Either way, it's better than sitting on the market with no one viewing the home.

Fixed rate or variable?

I received a call from a client yesterday.  She was mulling over her mortgage renewal and wasn't sure what to do.  We spent a half hour talking it through and this is what we concluded.

If she went variable, her mortgage rate would be 3.5%.  This type of mortgage would be completely open and she could pay whatever she wanted on the principal, whenever she wanted.  At the very least, she only had to pay the interest. 

If she chose a fixed rate mortgage, the rate would have been 5.7% but it would be guaranteed with fixed payments over a 5 year term.  In this scenario, the payments for the first many months of this mortgage would be primarily applied to the interest owing so the principal would be paid down very gradually.  Of course there would be prepayment privileges with this closed mortgage but they would be quite limited. 

Part of our discussion was about my client's income and life style.  She makes pretty good money, has no dependents, nor does she have a car.  She is almost debt free so most of her take home pay is for food, entertainment and the like.  In other words, she is in a good position to pay off a good chunk of this mortgage very quickly.  In the next three years, her situation may change and her spending power may be reduced so what to do now?

If she were, for example, to set aside $2,000.00 each month for a house payment and she had a fixed rate closed mortgage amortized over 25 years, a small amount of that would be applied to the principal.  If however, she paid that amount on an open, variable rate mortgage, MOST of it would be applied to the principal and it would be paid down very quickly indeed.  If, in a year or so the variable rate (tied to the prime rate) were to go up, even by 2 percentage points (which is quite a lot and not likely to happen),  she would have paid off a lot of the principal.  Then, if she were to lock into a fixed long term closed mortgage (even if the rate was higher then than today), she would still be ahead of the game because the balance owing on the house would be that much less.

She opted for the variable, determined to pay off as much of it as she could in as short a period of time as possible.

Weekend Sales in Toronto

Attached is the list of solds for this past weekend.  Note the relationship between the asking price and the sale price.  Also, note the presence of two CSPP (Conditional on the Sale of Purchaser's Property).  We are now selling houses in a market we could only dream about one year ago.  Click on image for full size.

 

Queen Street West, Toronto, Ontario

I'm on a mission to stroll the many commercial strips in downtown Toronto.  I sell houses in all of these neighbourhoods so I view this exercise at fun research. 

So far, we've walked the Danforth from Logan to Woodbine and last spring, we walked Queen Street East from Logan to the Beach.  Each stroll has been enlightening and surprising.  Refer back to the postings in this blog for the details if you're interested.

Saturday's walk was the most exciting yet.  Queen Street between McCaul and Dufferin is easily one of the most interesting strolls I've ever taken, excluding Delhi India.  This stretch of commercial real estate has everything except a big box store and we must thank our lucky stars for that.  It boasts the best music, the best restaurants, the best video store (Queen Street Video), the best button store, the best pool hall and on and on....

As a musician, I get to visit Queen Street mostly at night and I discovered that it is quite different during the daylight hours.  Nowhere else in the city are there music venues like the Cameron, the Rex, the Cadillac Lounge, Mitzi's Sister etc.  Nowhere else in the city are there so many art galleries like Loop, Engine and the Ontario Crafts Council. 

Every block has a surprise.  The independent retailers outnumber the franchises 10 to 1 or better.  Their storefronts were dazzling and enticing.  I wanted to enter each one just to see what adventure would ensue.  You can buy everything from textiles and bows to fancy clothing for very short people, sex toys (more on that later), custom guitars, fur coats for dogs and original art in every shape size and style.  You can even have a tattoo designed and applied at more locations than you can shake a stick at.

It is Queen Street West don't forget so there are the mandatory long time residents who have been enjoying and will continue to enjoy animated conversations with themselves.  I've been visiting Queen Street for many years and these fine citizens were here long before the rest of us.  So, in many ways, I felt like I was intruding on their turf. 

However, the pinnacle of the street has to be Miss Behavin', an exotic female friendly adult boutique offering the latest in lingerie, fetish wear and adult toys.  Now, the products they sell are terrific and very useful, at least so I've been told.  However, on Saturdays, they feature, much to my surprise, "live models in the front windows". 

At first, I thought these gyrating creatures of beauty were very attractive blow up dolls, much like you would buy in the Scandinavian countries.  Then, one of the girls winked at me and she quickly, at least in my mind, went from a rubber fantasy to a fleshy aspiring actress working a day job to finance her budding career.  Quite a transformation considering it occurred in a matter of nano seconds.  I had my camera and would love to share this with the reader but the batteries died before I could snap a quickie.  

Next walk?  Perhaps St. Clair Avenue West or Roncesvalles Avenue.

Toy Drive, 2008 - Bigger than ever

WE'RE FINALIZING PLANS FOR OUR BIGGEST TOY DRIVE EVER:

Last time Karen and I sponsored a toy drive, it was in our home. The turnout was beyond our wildest expectations. I made four trips to WoodGreen Community Services, the station wagon loaded to the roof with “some” of the toys we collected. Many more were delivered directly from the store.

After my last trip, Susan Melnick, Manager, Fund Development gave me a tour. I had been to WoodGreen many times before, for meetings and seminars, but had never seen the real work going on there. Believe me, it was impressive indeed. These toys make a real difference in the lives of hundreds of families.

This 2008 Toy Drive will be our largest endeavor to date. Everything is pretty much in place and here’s the scoop as described in the Press Release that was just sent out.

On Saturday, December 6th, 8:00 p.m. at the Eastminster United Church, 301 Danforth Avenue, eleven musicians will treat the audience to a very special night indeed!

The recipe is simple – you take all seven members of Canada’s most venerable country vocal band, WHISKEY JACK (www.whiskeyjackmusic.com), add 4 members of the GALA STRING QUARTET and you have BACH IN THE SADDLE AGAIN (www.bachinthesaddleagain.com)!

Members of the Gala String Quartet have played individually and collectively with: Quartetto Gelato, the Royal Winnipeg Ballet Company, the National Ballet, Hamilton Philharmonic Orchestra, Canadian Opera Company and on and on. They’ve been around the longhaired block a few times.

Whiskey Jack on the other hand has been around the country music block a few times, starring on the CBC’s Tommy Hunter Show and touring and recording frequently with Canada’s own Stompin’ Tom Connors.

And the MC for the event is none other than Alexa Petrenko from the New Classical 96.3 FM, the nation’s classical station.

A huge thank you goes out to our friend and neighbour, Lili Starasts, proprietor at Treasure Island Toys. She has been a great supporter of this (and many other events) over the years and we are very grateful. Also, our friend and associate, Ken McLachlan, the Broker/Owner RE/MAX Hallmark Realty Ltd. has been an enthusiastic sponsor of pretty much anything we organize. Many thanks Ken.

Admission is: Buy a $20.00 Gift Card from Treasure Island Toys, 581 Danforth Avenue (416-778-4913) for WoodGreen Community Services Toy Drive and present it at the door. Treasure Island will match this amount dollar for dollar, in effect doubling your contribution. This can all be done by phone. You can call the store with your credit card number and they will select a toy for you and match it. Even if you can’t attend, your donation will be appreciated.

Or, buy a ticket for $25.00 at the door and the proceeds will also go to the Toy Drive for WoodGreen Community Services. For photos of previous concerts by these fine musicians, go to www.BachInTheSaddleAgain.com

It's all about affordability

There was another Realtor whining about the Land Transfer Tax again this morning in the newspaper.  Even the President of the Toronto Real Estate Board whines about this.  They're trying to explain the drop in the volume of sales in the City of Toronto as opposed to the outlying areas. 

I still don't buy it as "the" factor.   It may have contributed to the drop in average sale price but SO WHAT! 

In the past, when there has been an increase in interest rates,  house values came down accordingly.  Buyers can only afford, and are only qualified, to pay so much on principal and interest each month.  Therefore, they offer an amount that fits their budget.  In the 1970's when interest rates were 24%, houses still sold.  They just sold for less. 

After the Land Transfer Tax was implemented, if the total added tax was $6,000.00, my suggestion to buyers was to offer $6,000.00 less than they would have before.  In other words, make the seller pay the tax.   Since it had been a seller's market for over 10 years, by my calculation, they could afford to take a small hit.

Assembly of Realtors

I convened a meeting of Realtors at my house yesterday.  I've done this often in the past.  Usually, I do this to steal ideas from them under the guise of a friendly brain storming session.  Hee Hee Hee.  Usually works.  Yesterday was no exception.  I came away with some humdingers.

When I first started doing this, I would invite many of the same people.  Then, after a few times, I learned that I had already picked through their ideas and incorporated the good ones and discarded the bad.  Yesterday was a new group.

Actually, I invited yesterday's group because they are all thoughtful and generous business people first, and excellent Realtors second.  That is the formula for a successful business, regardless of what is being sold.  Also, they had all been in sales for over 20 years so we had much experience to draw from as we conferred.

My plan was to ask everyone to comment on the world affairs and how it is affecting their day to day business.  In preparation for this, I emailed Larry Yatkowsky, a fellow blogger from Vancouver.  That town is experiencing a bit of a real estate melt down right now and being the thoughtful, opinionated man that he is, I thought it would be fun to hear his take on the new world. 

He prepared a detailed stimulating message that we absorbed with great interest.  In short, Larry told us to "Get up and get at it". 

This is one the best things about selling houses.  If it's a slow day, there's much I can do to get busy.  I can either get on the phone and talk to people;  or I can go to people's houses and talk to them;  or I can, as Larry suggested, "stand on the street and introduce myself to strangers and talk about real estate". 

In fact, I think I'll do some of that today.  Off I go.

Zoomer Show 2008

It was billed as the Zoomer Show.  Moses Znaimer, in his quest to redefine old age, hosted this event on the weekend.  I attended with bells on.  Apparently, since I'm over 45 years of age, and since this was  "Toronto's First Consumer Show for Boomers With Zip!", I am officially a Zoomer and I simply had to be there.

Good grief!  There were very few booths that spoke to me.  I don't need a free flu shot.  I don't need home care.  I don't need to begin shopping for retirement homes.  I don't need help packing up my belongings in preparation for the big trip to the seniors residence.  I don't need a hearing aid yet.  Oh, and the fashion show?  Nothing there for me. 

I came away thinking my life is lookin' pretty good.  Having said that, I do very much like being part of "a vast group of more than 14.5 million and accounts for 44 percent of the population, while controlling more than 70 percent of Canadian wealth " 

Perhaps I'll wake up next year with my aches and pains a bit more pronounced, my last few follicles floating down the drain and with no memory of having attended this year.  Should that happen, I'll likely return to next year's show and enjoy it all over again.