TO RENT OR NOT TO RENT

TO RENT OR NOT TO RENT, THAT IS THE QUESTION
Well there is a lot to think about when it comes to renting, selling or buying. They are all intwinded together. Today we are going to talk about the SELLING END OF THINGS. If you are a seller you may want to rent instead of selling. You may want to Keep it for future income. Or you may want to avoid capital gains at this time. Rentals are a good investment overall. However there are a few challenges that come with it.
First you need to make sure you are making the best decision for you and your family.
Then make sure you find the best tenant possible for your property.
Make sure that you look at the potentials renters credit history, this you need their written consent.
Check the past two landlord referrences, very important, unless they never rented before
Check at least two personal referrences, that are not related. ( if possible)  
Check their employment, speak with their employer.
Make sure that their income can meet their living expenses or your will be paying them
Most important of all, trust your gut instinct.

Having the income each month is nice. If you have a mortgage on the property the tenant help you pay that. Also it is not a great idea leaving your property vacant. Unless of course you live in it. Keeping it and renting right now may be a good idea in today's economy. You MAY get more for the property in the future. Just take into consideration the cost to upkeep the property. Such as maintainance and repairs. Remember a happy tenant is usually a longer term tenant. Everytime a tenant moves out it will cost you money. Do your best to make the home as nice as possible, within your budget. It is a good idea to go into the home at least twice a year and check for repairs and maintainance, like leaky taps, clean out the eavestrough, check for mold in the basement. You may also have to do the grass cutting, yard work or snow removal, just depends on what is in your rental agreement. Be sure to keep open lines of communication with your tenant.
In my experience, and we have some rental properties, we feel it is a great investment. You must remember, whether you already own the property or you want to buy one as an investment, it is for the long term. In today's market it is a great time to buy. As for the selling end, it takes a little longer and prices are not as high. This will likely change in the future. Real estate cycles aways prove to increase over the year. When it dives it always comes back. It just takes time.  However at least you have something that you can liquidate if you need to. However at least you have something that you can liquidate if you need to. This is just a few things to think of when you are considering to rent your home. If you need any help making this decision, or would like some more information or help renting, just give me a call or email.
Thanks for taking the time to read this. I hope that it was helpful.
Have a great day!!
Until next time! Be sure to check back.
705-733-5821
jtalbot@remax.net
 

Here's a Driving Tour of Wasaga Beach

Have a look at this drive through the Beach, from Superstore to the Main End. Near the end, you'll see a short clip of Kite Surfing. I'd sooo love to try that! Listen for my daughter pointing out some important tourist attractions.

Wasaga Beach is a great place to live, no matter what the season!

Check out this Tour. It is a Must!

Well here we are. It is October already!! Wow! All the fall colours are here. We have been driving around videoing all the bits and pieces of our little piece of Heavenly real estate area. You will have to check it out. We have recorded some really neat places. Like the fishing Islands on Lake Huron, which are quickly becoming the non fishing, non islands. We were there and could just about walk to them. If the water was not soooo cold we would have. Someone drove their jeep right through the water, so it can not be that deep. We also were checking out the salmon jumping up and over the Sauble falls. WOW! Now that is cool. The power and determination these fish have is incredible. They must have a real keen built in GPS system. God designed them well. There is a lot of water running over the falls right now. We also checked out the Coran ruins at Spirit Rock, just outside of Wiarton. The ruins are really interesting . . . the size of the cut stone they used and how heavy the stone must have been. They also did not have the equipment that we have today to do all the heavy lifting. Also what was really interesting was the steel spiral stair case the led us down over the cliffs. We were about 150- 200 feet above the Bay at Wiarton. Look for the video on our website under current videos on the right side of this page. Would you like a really scenic drive that will take you about 2 to 3 hours round trip? Well, start in Collingwood head west on Hwy 26 towards Thornbury. Just past the mountain and Craigleith provincial park turn left on Grey road 40 towards Walters falls, continue on that until you come to Hwy 10. Then turn left and head south. Go into Markdale. At the lights turn left (the only stop lights).This goes east. Then turn right onto cty road 30 and follow to the stop sign, turn right, this is still 30, go to the next street and turn left, this is still 30. Go down the really big hill. Follow this to the stop sign at County road 13. Then turn right and go up the big long hill into Eugenia. Then turn left onto the 8th line on the edge of the village of Eugenia. This goes east. Travel until you come to the stop sign in Feversham. Go straight through. Keep going until you come to a T in the road, this is the 10 th line. turn right. Take this road until you come to the next T in the road and turn left this is county road 31. Then go for about 500 meters and turn right onto county road 91 and go east. Go down the big hill and this takes you into Duntroon and you can go straight to stayner or left to Collingwood.
I guarantee that you will not be disappointed with this trip. I promise you that it is one of the most beautiful drives in all of southern Ontario. There are many great things to stop at and take a look at along the way. Most important, do not forget your camera and or video camera. Your will really enjoy the fall colours and the beautiful hills. It is a VERY scenic drive. You will pass through Clearview township, town of BlueMountains,  Artemesia, Osprey, and other townships all in Grey County and Simcoe county. Please let me know how well you made out with my directions and how much you enjoyed to the trip. Thanksgiving weekend is coming up and the colours will be at their peak. Enjoy and thanks for visiting my blog. Stop by and visit my website as well http://www.clearviewlistings.com/ Have a great day! Joseph Talbot, ASA, sales representative, Remax Clearview Inc. 705-733-5821 direct line if you get lost.

See the Potenial In Real Estate That May Not Seem Quite What You Are Looking For

Sometimes, when you are in the market for real estate, viewing a property can be a little disappointing. You see the photos online and when you get there, it's not quite what you had hoped.

If you dig a little deeper though, you might be able to visualize something different.

That's what we did when we bought this investment property in Stayner, Ontario. It was pretty run down. It needed new doors, new windows, new siding, and we replaced just about everything else.

Now, the main floor is a large, finished, 4 bedroom, 2 bathroom apartment and the basement will begin soon. We'll keep you posted on the progress.

In the meantime, you can see Before, During and After photos at http://www.clearviewlistings.com/ and see view the finished video walkthrough of the Stayner Renovation Project below.




With my design qualifications and 20+ years in the building industry, I have an eye for detail and a knack for visualizing the potential in a property. Give me a call, at RE/MAX Clearview, Inc, and let me help you see your future home!

Joseph Talbot, Accredited Senior Agent, Green Agent
RE/MAX Clearview Inc. (705) 428-4500
Direct Line (705) 733-5821
www.clearviewlistings.com

SAVE THE HST!!!

Keep more of YOUR money in YOUR pocket!!!

Wow! What a Deal!

SAVE THE HST*

*On the seller's brokerage portion of commission only, when you list your real estate through the services of Joseph Talbot, Sales Representative, in the months of September & October 2010.

Call me at Remax Clearview Inc., 705-428-4500 or on my direct line, 705-733-5821. Visit www.josephtalbot.ca or email jtalbot@remax.net.

"ORDINARY JOE, EXTRAORDINARY SERVICE"

Secrets to Creating an Age Friendly Home

When people buy a home they intend to live in for the rest of their lives, they don't always consider if that home will suit them as they age. In fact, many people plan remodeling projects that won't help them at all when they get older, such as putting in a hot tub. Maybe that's something they can finally afford and have always wanted, but they don't take into consideration how useful - or not - something like that will be as they age. Here are a few things you should think about in creating an age friendly home. Keep in mind that everyone ages differently, and you may not know exactly what types of accommodations you'll need, but by planning ahead, you'll have some idea of what you may need.

The ideal home for seniors should include a no-step layout, including no steps up to at least one entrance of your house. If you have steps at every door of your home, be aware that you may need to add a ramp at some point in the future. This holds true even if you or your spouse isn't in a wheelchair; the fact is that negotiating steps becomes difficult for nearly everyone as they age. Doorways, both within the house as well as entrance doors, should be at least 32 inches wide to accommodate a wheelchair or walker, and doors should have lever handles instead of knobs for arthritic hands.

Your home should ideally have a full-sized bath and master bedroom on the first floor, as stairs may become difficult to navigate. Bathrooms should include toilets and counter tops that are at a comfortable height for seniors. Showers are ideal for seniors, since most falls occur getting in and out of the tub. You can get shower chairs with wide seats. If you already have a tub and choose not to remodel, add several grab bars and a bath bench to put across the tub so you don't have to stand up to reach necessary items. You should also add a grip mat in the bottom of the tub and a hand-held showerhead so you can avoid standing as much as possible. If you have room for it, you might also want to consider placing a sturdy chair near the tub to aid in mobility and dressing.

Bedrooms, particularly the first floor master bedroom, should have large closets with accessible storage and a bed that is low enough for seniors to easily climb into. Since older people need three times as much light as younger people do, you'll also want adequate lighting, not just in the bedroom, but also throughout the entire house. A good reading light will help, and you may want to consider a nightlight to make middle of the night trips to the bathroom safer. If the bedroom is connected to the bathroom, a sturdy chair near the bathroom door will be good if you need a little help getting to the bathroom.

Adequate lighting is particularly important in the kitchen because there are so many ways to get hurt in that room. You can add under-cabinet and can lights if you don't have enough florescent lighting. You'll also want to make sure cabinets are easily accessible, and add roll out shelves and more shallow shelves if necessary. Stoves should have large dials for easy viewing, and ovens should have pull out racks. Other senior kitchen necessities include a stool for resting, a lever style faucet on the sink, a garbage disposal and trash compactor, and a u-shaped galley kitchen layout so food does not have to be carried.

Other changes that will help you age in your home:

• Low pile carpet for easy mobility
• Low shine floors that minimize glare
• Pressure mats instead of motion detectors that interfere with hearing aids
• Buzzers instead of high frequency alarms and doorbells
• Adequate heating system so space heaters aren't needed
• Touch lamps instead of ones with knobs
• Out of the way extension cords
• No throw rugs
• Furniture with firm, high seats
• Chairs with arms and without coasters so they don't slide
• Light colored floors and bright walls, with a contrast between the two

Outside of the home, patios are better for seniors than are decks, because decks require more maintenance and tend to be slick when wet. There may come a time where maintaining an elaborately landscaped yard is too much for you. As you get older, you may want to consider either simplifying your yard so you have less to do in it, or hiring someone to take over yard care duties. Following these tips can make aging in your home much easier.

Joseph Talbot, ASA
Sales Representative
Remax Clearview Inc. brokerage
705-733-5821

Check out more at
josephtalbot.ca

This article was provided by www.worldreferrals.com

Buyer’s Title Insurance: Do You Need It?

When you purchase a home, the title of it must be researched to make sure the seller has the right to sell the house; that no one else has a claim on the house, for example. The title examiner will look closely at all available public records of the house, including past deeds, wills, and trusts to make sure the house is free and clear to be sold. If the title is clear, you can buy the house. If not, any legal problems need to be cleared up.

Title insurance protects you and your mortgage lender in the event that a problem occurs with the title at any point during your ownership. It can be a problem that just didn’t show up in the title examination, something the examiner missed, or because of an error in the public records. Let’s say a long lost heir claims a right to the house after you’ve bought it. Title insurance will cover the cost of untangling this legal problem.

There are two types of title insurance. A lender policy, usually issued for the amount of the mortgage, covers the mortgage lender. If you have to go to court with the long lost heir, the policy will cover the costs of that. If the long lost heir is indeed the legal owner of the house, instead of you, the policy will pay the mortgage back to the lender.

An owner policy covers the price of the house and pays the owner of the property for loss due to a problem with the title. If you have an owner policy and the long lost heir wins the court case, your owner policy will reimburse you for the loss of the property.

Title insurance does not cover any defects found in the property after closing, and some policies do not cover problems related to easements, mineral rights, and liens. Unless your state specifies differently, buyers must pay for title insurance, although that can be negotiated with the seller. The price is a one-time fee, usually part of the closing costs.

Most lenders require you to purchase a lender policy, but not all require an owner policy. Of course, if you’re paying cash for a property, you do not have to get title insurance, but it certainly wouldn’t hurt. It’s a good idea to protect your investment.

Joseph Talbot, ASA
Sales Representative
Remax Clearview Inc. brokerage
705-733-5821

Check out more at
josephtalbot.ca

This article was provided by www.worldreferrals.com