Check out a great article that explains the Real Estate Market in Montreal – things are becoming more balanced.

http://extranet.centris.ca/MONTREAL/Upload/STATSMLS_FEBRUARY2011.pdf

For more information, please do not hesitate to contact me.

Diana

GMREB TV – an excellent explanation on the current Montreal Real Estate market – take a look, it’ll only take 2.5 minutes of your time!

 to access the Montreal Market TV broadcast….CLICK HERE!!

January/February 2011

Buyers and Homeowners – read on….this might affect you!!  A few changes are being made that might cause some minor road-blocks in the approval process, but at the end of the day these new rules work to preserve the value of your investment and stop those who cannot afford a property from over-leveraging themselves.

As always, for more information please do not hesitate to contact me.

New Mortgage Rules Announced 

On Monday, Finance Minister Jim Flaherty announced some changes to mortgage rules in Canada. 

1. The maximum amortization period is now 30 years (down from 35 years) for government-backed insured mortgages, when the down payment is less than 20 percent.  This new amortization limit will come into force on March 18, 2011. 

2. The maximum amount that can be borrowed when refinancing a mortgage is now 85 percent the value of the home, down from 90 percent.  This new refinance limit will come into force on March 18, 2011. 

3. The government will no longer provide insurance backing for home equity lines of credit.  Government backing for home equity lines of credit will end on April 18, 2011. 

Exceptions will be allowed after these new changes come into force, if necessary, to satisfy a home purchase or a sale and financing agreement arranged before the above-mentioned March and April dates. 

Be sure to talk to me about how these changes could affect you, and for advice or a referral to a mortgage speciallist – it is important to set a mortgage strategy that fits your needs.   

Bank of Canada news…..
Bank of Canada Leaves Key Rate Unchanged 

The Bank of Canada said today that it will leave its key interest rate unchanged.  This means that Canadian lenders are expected to keep their prime lending rate steady.  Products typically linked to a lender’s prime rate include variable-rate mortgages, variable-rate credit cards, and home equity lines of credit.  The pricing of fixed-rate mortgages is more affected by trends in the bond markets.

Information provided by Joe Saray (Mortgage specialist)

Joseph Saray
Courtier immobilier hypothécaire

Tel: 514-262-3032
Fax: 514-669-3374
j.saray@migroup.ca

Heating our homes efficiently  

As February approaches so does some of the coldest weather of the year, which usually means higher heating bills. Fortunately there are many Fireplace options on the market today using innovative technologies in heating to efficiently provide you with warmth and ambiance while reducing your energy/heat consumption.

Here are some fireplaces that will help give you some visuals to keep in mind what can work in your current home, upcoming remodeling project or new house plans. With so many options, it is difficult to go out to one store and see them all first hand; to narrow down your search, it is best to understand and acknowledge the benefits and differences between Gas, Electric and Wood burning fireplaces, this will allow you to choose which option will provide the most efficiency for your home.

1 . GAS FIREPLACES

• These three images are amongst many looks offered by a Gas fireplace. They range from Traditional to contemporary and are available as insurts or free standing units.
• Natural gas fireplaces enhance the appearance and marketability of any home.
• They come with mantles and frames (wood,iron,stone,tile,etc.) which can easily and affordably be changed if you choose to remodel your home or simply desire an uplift.
• They are easily operated, usually activated by a switch or a remote controle.
• They are very low maintenance as they produce no soot, no ashes, no messy clean-up, no creosote buildup in your chimney and most importantly no chimney fires.
• They provide clean flames which in return produces less air pollution.
• Most operate independently of electric power, providing an auxiliary home heating source during power outages.
• Complete fireplace inserts can be retrofitted into existing wood-burning fireplaces.   

2. ELECTRIC FIREPLACES

• Electric fireplaces are extremely easy to install and require no previous ventillation systems or existing fireplces.
• You really don’t need much space to install an electrical fireplace;as they range in many sizes and can be wall-mounted. Most Electric fireplaces are portable.
• Commonly to Gas fireplaces,they come with mantles and frames (wood,iron,stone,tile,etc.) which can easily and affordably be changed if you choose to remodel your home or simply desire a change.
• You can select the color and speed of the flame, as well there is an option to turn the heat off and simply have the flame to create ambiance in your space even during the hottest days of the year.
• The electric fireplace comes with a thermostat which can be adjusted to suit personal preference. This also helps save on cost.
• They are economically friendly as they do no emit any fumes or additional Carbon Dioxide.
• Electric fireplaces are always cool to the touch; therefore, if a child reaches out to touch the logs or exterior of the fireplace, he or she will not be burnt.
• Electric fireplaces require zero maintenance.

3. WOOD BURNING FIREPLACES

• Esthetically a wood burning fireplace is always a focal point in a room; it also provides a warm , peaceful and relaxing atmosphere.
• A wood-burning insert features a costlier ventilation system than a gas insert does but allows you to avoid the additional cost of running a gas line to your home.
• With a wood burning Fireplace you don’t have to worry about losing heat during a power outage in a winter storm.
• A Wood burning fireplace is wonderful for lowering heating bills, especially if a blower is installed, which helps push the warm air throughout the house. If the proper blower is installed this fireplace can provide heat to several rooms in a home.
• With the purchase of FSC certified wood, you are ensuring that for every log you are using to create heat for your home there is a tree being built to replace it; therefore you are being eco-friendly.
• Wood burning fireplaces are versitile as If you wish to enventually switch to a gas burning fireplace you simply need to purchase a set of gas logs and a proper kit. (See heat&glo website for further details)
• There is an undeniable sense of welcome,warmth and overall well being exerted from the glow and crackling sounds provided from a Wood burning fireplaces that cannot be provided or replaced by any other sources of heat.      

NOTE:

“Most inserts will not heat an entire home. Like a fireplace, the heat comes directly from the unit and is not forced throughout the home through ventilation. Although there are models of wood burning stoves that will do this, most inserts do not. So, when you are considering the size of the area that fireplace inserts will provide heat for; make sure to check the specifics of each model. In most cases, you will find they are able to provide heat for a small home or several rooms near the unit otherwise. What heat that inserts do provide, though, will be highly efficient air.” – Heat and Glo website
Sources:

http://www.heatnglo.com/Browse/Fireplaces.aspx#

http://www.alternative-heating.com/

http://grillsandfireplaces.com/fireplace-doors.html

http://fireplaces.home-webzone.com

http://www.napoleonfireplaces.com/

 Brought to you by:

KMT  D    E    S    I    G    N

Katie Thomassin is the co-founder of KMT Design. With over 5 years of interior design experience, Katie specializes in eco-friendly design concepts for all types of projects and budgets. She can be contacted at info@kmtdesign.net or 514-264- 5755

Cold-Weather Fun for the Kids

“I’m bored!”  No matter how many movies, video games or toys the kids have, you’re going to hear those two words sooner or later. So what do you need to keep your kids happy when they’re stuck indoors?  All it takes is a little imagination! 

Bottle-bowling. Find a soft-textured ball to use as a bowling ball. Place some pillows against the wall at the end of a hallway. Line up some empty plastic water or pop bottles a metre in front of the pillows and you have an instant bowling alley. Letting the kids keep score can be great practice for counting too. 

Camping trip, anyone?  Ask the kids if they’d like to go on a camping trip without leaving home.  You’ll need some grass (a green blanket or towels), a tent (a sheet or blanket placed over two chairs), and a few pieces of bristol board for the kids to cut out trees, flowers, or a campfire. A few stuffed animals placed around the campsite will help set the scene.

Little bakers. Mix up some gingerbread dough and let the little ones use different shaped cookie cutters to make cookies.  Once cooled, they could decorate them with colourful icing and candies (messy but fun and yummy).

Shadow-drawing. Get a roll of plain brown paper and have each child lie on it, and then trace their outline.  Once cut out, they’ll enjoy drawing in their own features, or creating a funny character that will have them chuckling.

Make your own book. Ask the kids to make up a story that they have to write down and illustrate with paint or markers. Use binders to keep all their stories together so you can enjoy reading them in years to come. A great keepsake.

Future film-makers. Pull out some dress-up clothes, charge up the video camera and get the kids to make a movie. They can act out scenes from their favourite movies, or just run with their own ideas.  Next stop, Hollywood!

Storytime. Having everyone curl up with a cup of hot chocolate and marshmallows to listen to a story is one of the coziest of winter pastimes – and best of all, no batteries required!

Here’s a great article provided by Royal LePage – please take a few minutes to read it as it might help you maximize the space you have! Happy reading.

Are you constantly misplacing household items like your screwdriver or tennis racquet? If so, perhaps your household needs a little re-organizing. Whether your home is a compact condo, cozy semi, or spacious detached, we can all benefit from a periodic check-in to see if we are making the best use of our space.

For house owners…
Take a peek inside many Canadian garages and chances are you won’t see a car. Garages and basements often become a dumping ground for all the things we rarely use. Here are five quick ways to makeover your garage and/or basement:
•Clear the clutter! Have a yard sale, sell your unused goods online, or donate items to your local charity.
•Add tall utility shelving to free up floor space, keeping any hazardous cleaning, garden, and automotive supplies out of reach of children by placing them on the top shelves.
•Store lesser used items on utility shelving in plastic storage containers with lids to keep out dust and moisture. Use bigger bins on casters for more frequently used items and roll them out of the way, such as under a worktable.
•Clear off your workbench and use a wall or pegboard to hang frequently used tools and store the rest in a tool chest. Use jars or plastic bins for storing and organizing smaller items like nails, screws, and nuts.
•Hang skis, bikes, brooms, shovels, wheelbarrows and other unwieldy sport, garden, and household items off purpose-built wall hooks or in specialty containers to keep them free from damage.
For condo owners…
Even in the smallest of condominium units, there is often under-utilized space. Here are a few ways to help you optimize it:

•Transfer your music collection to a digital format and sell your space-hogging records and CDs.
•Keep out-of-season clothes and spare linens in vacuum-sealed storage bags under the bed. Use hooks for bathrobes, clothes, purses, or even jewellery.
•Use decorative baskets for small items like magazines, hats, scarves, mittens, and children’s toys to keep things neat and organized.
•Open or floating shelving will create the illusion of space while providing stylish storage for household and decorative items.
•Invest in multi-functional furniture versus individual pieces which can take up valuable floor space. For example, a padded ottoman can be used as coffee table, storage space, and extra seating.

As you may know – I publish me E-newsletter every few months – here is the most recent one – I hope that you find the information and content useful.

Visit: http://www.royallepagemc.ca/20/44820/337801/337801.html

Have a great day

Diana

As many of you know, Crea and the Competition Bureau have been in negotiations: It is important that everyone understand the changes and how they affect Real Estate in Quebec.  Below you will find a Q&A section provided by the Greater Montreal Real Estate Board;

*The Greater Montréal Real Estate Board has received many questions from its members following the agreement reached between The Canadian Real Estate Association (CREA) and the Competition Bureau. Here are some of the more frequent questions we received, as well as the appropriate answers.

1- Is the agreement a new law?

No. It is an agreement reached between CREA and the Competition Bureau, aimed at quelling the Competition Bureau’s concerns about certain CREA rules. The Bureau believed that CREA’s rules restricted consumer choice and prevented innovation in the brokerage services offered to sellers in Canada’s residential real estate market.

The fundamental point of this agreement is that it specifies that CREA and real estate boards/associations cannot prevent or discriminate against “mere postings” or against real estate broker members who offer mere postings.

2- What is a “mere posting”?

According to Section  1h) of the agreement, a “mere posting” is a listing on a real estate board’s MLS® system for which the member has chosen or agreed not to provide services to the seller, other than submitting the listing for posting on a board’s MLS® system.

3- Can a seller list his or her own property on the MLS® system?

No. In Québec, only the holder of a real estate broker license who is a member of a real estate board can list a property on the MLS® system.

4- Are mere postings allowed in Québec?

Under the Real Estate Brokerage Act, which is in force in Québec, mere postings as defined in the agreement are not allowed in Québec. Real estate brokers in Québec are required to comply with the Act’s requirements regarding information, verification and advice. Brokers must ensure the accuracy of the information contained in a real estate listing, they must respect their obligation to collaborate, and they must present all of the promises to purchase they receive.

5- Will the seller’s contact information be displayed on centris.ca™ and realtor.ca?

No, the agreement stipulates that the seller’s contact information can only appear in the member-only section of an MLS® system, and it cannot be published on centris.ca™ and realtor.ca® system, and  it cannot be published on centris.ca™ and realtor.ca.

 6- Are real estate brokers obliged to provide mere postings or à-la-carte services?

No. This agreement is aimed at CREA and real estate boards, and they cannot prevent real estate brokers from offering mere postings. However, real estate brokers are not obliged to offer mere postings or à-la-carte services. They are free to choose the business model that suits them.

7- If a broker offers a fee to list a property in the MLS® system, can this broker charge his client once he lists the property, even though the property has not yet been sold?

In accordance with the Real Estate Brokerage Act, real estate brokers are required to deposit all money collected prior to the sale of a property into a trust account according to the terms and conditions prescribed by the Organisme d’autoréglementation du courtage immobilier du Québec’s (OACIQ) bylaw. Brokers can recover the money once the property is sold and the deed of sale has been notarized.

8- Is a brokerage contract still required to list a property on the MLS® system?

Yes, a brokerage contract is required to list a property on the MLS® system and this contract must provide compensation for the selling broker ($0 is not acceptable). For residential properties, this contract must be drawn up on the mandatory form with the OACIQ’s Transitional Annex.

9- Can real estate brokers waive their obligations stipulated in section 10 of the brokerage contract?

Brokers cannot modify the brokerage contract if the result of the modification is a decrease in their client’s rights. Furthermore, under the Regulation Respecting Brokerage Requirements, brokers cannot avoid or attempt to avoid their civil responsibility.

10- What changes will the agreement bring in the future?

The agreement will not have a significant impact in Québec as the practice of real estate brokerage is governed by the Real Estate Brokerage Act. This Act takes precedence over the agreement and brokers are required to comply with the Act.

The agreement was reached between the Competition Bureau and CREA. It is therefore a Canada-wide agreement and will have a greater impact in provinces where the practice of real estate brokerage is not governed by a law that defines brokers’ obligations.

 *information provided here was courtesy of thee Greater Montreal Real Estate Board 

I am always being asked if it is worth it to renovate or finish a basement – the answer is ABSOLUTLY! In many cases, when a basement is finished properly, one can expect to recoup a large percentage of the renovation cost on the sale.  More and more buyers are willing to pay a premium for a “turn key” home (meaning a house that doesn’t need any immediate renovations). 

Here are some great tips to consider when taking on a basement renovation to ensure that you do it right!!!

Tips for Renovating Your Basement

Want to add more space to your home without building up or out?  Look no further than your basement.  According to the Appraisal Institute of Canada, renovating a basement can give you a 50-75% return on your investment when it comes to selling your home. Here’s how to get it done right:

Start with a plan
What type of space does your family require?  Is it an extra living space for your teenager, a playroom for the little one, or perhaps an entertainment area for all to enjoy?  Once you decide on how you want to utilize the space, you can layout your design.  If budget allows, an architect or interior designer could assist you with the layout design and make valuable suggestions. 

Do it yourself or hire a professional
Depending on your skill set, budget, and time, you may want to enlist the services of a contractor who has the expertise required to finish a basement.  If you do it yourself and don’t have the required time or skill to do the job correctly, you may find yourself looking at a repair bill far exceeding the amount you originally thought the project would cost.  Make an informed decision.  Be sure to carefully weigh all factors when deciding which option is right for you, while considering costs, material, labour, and equipment requirements.

Framing
Framing basement walls and ceilings is one of the most important aspects of any basement renovation. Two popular wall framing options are wood or steel studs. Wood is the classic choice.  It is versatile, easy to work with, and cost-effective.  Whereas steel, although more costly, adds a level of strength, rot resistance and won’t warp and crack like wood might over time.  Two popular ceiling framing options are dropped ceiling tiles or drywall. Dropped ceiling tiles provide easy access to pipes and wires which can be a saviour if a tub or toilet on the main level floor springs a leak.  Alternatively, dry wall ceilings offer a smooth finish and require less vertical space – a great option if your basement ceiling height is already low.

Flooring
There are plenty of basement flooring choices to choose from including laminate, linoleum, vinyl, wood and ceramic tiles.  Be sure to match your flooring choice with the intended use of the space and your geographic location.  For example, a game room may require more durable flooring than an office.  Do you live in an area with a tendency for flooding or is your location dry?  Carpet with high density under pad will offer cushion and moisture protection from the typical condensation found in basements.  Engineered hardwood made for below grade installation will flex and handle moisture better than traditional hardwood. Ceramic tile is great for bathrooms and laundry rooms and is easy to install on concrete.

Add a bathroom
Installing a bathroom in the basement is a great way to add value to your home.  Determine if you require a full bathroom or if a powder room will suffice.  Powder rooms are relatively simple to install, easy to keep clean, and won’t take up too much room.  Full three or four piece bathrooms can provide a comfortable, private, and even luxurious, space for overnight visitors to enjoy. With either option, time and costs can be reduced if bathroom fixtures are located near existing plumbing and are arranged in a line on one wall.  Be sure to check local codes for plumbing and electrical aspects of your project.

Add storage
No matter what kind of plan you come up with for your basement, remember to factor in plenty of closet or storage space.  This will enable you to de-clutter the rest of your home to keep it tidy and inviting.  Further, if you ever decide to move, having this extra storage space should appeal to just about any prospective buyer.

A finished basement can not only increase your home enjoyment but it can also add valuable square footage.  From everyday living to financial value, finished basements provide many benefits to you as a homeowner.

***For a referral to a Designer/Architect/Contractor, please ask – I have a long list of qualified professionals.

 This article was provided by Royal LePage Canada. For more info on home improvement, decor and design, do not hesitate to contact me.

If you have countertops in unusual shapes, concrete may be a good choice. They are often cast right in your kitchen for the perfect fit. The concrete slabs are made from an aggregate mix of cement and water, which are all natural elements. And, low-VOC sealers are used in order to protect the counters and also add to its eco-friendliness.

What To Consider When Opting for Concrete Countertops:

 Advantages 

Concrete material is easily moldable compared to the other materials. If you get the form right, you can shape it into angles and curves.

You can extend concrete beyond countertops and useit for cabinet below or above too. Concrete also easily accommodate sinks and drains.

You can color-stain concrete with with dyes to give it a natural or polished look.

Concrete has high resistance and can withstand heat, scratches and stains.

Concrete counters can be easily cleaned and are less prone to decay. If taken care of properly, concrete will last for generations.

Compared to other materials which usually require professionals for installation, concrete can be installed by anybody.

The design of concrete blends well both with traditional and contemporary designs. 

Disadvantages 

The cost of hiring someone to mold concrete according to design is fairly expensive. It then becomes at par with the cost of using granite or marble.

When you are installing and finishing yourself, you have to be prepared to work hard and long.

Concrete is very heavy. So, it becomes essential  for you to add foam to reinforce and lighten the weight on the cabinetry below.

Light weight concrete material is now found in the market. This material is much lighter than regular concrete, however, it is less durable.

Paper or glass composite countertops may include recycled paper, wood pulp, recycled glass or crushed stone. Strong and durable, these materials do include resin or epoxy, but they do not off gas.

Made from 85% recycled glass and cement pigments, these counter tops appear as smooth as polished granite. These counter tops are heat resistant, scratch resistant and stain resistant. You should always look for low-VOC resin usage, and in the case of paper products, look for FSC certification. 

What You Really Get with Paper or Glass Composite Countertops

Advantages

You will contribute to a positive environmental impact.

Paper or glass composite coutnertops are durable and stain resistant. The products that use a large percentage of recycled glass in a cementitious mix offer strength and stain resistance similar to the quartz and engineered stone products. Because 80% to 90% of the surface area is glass, which is non-porous, most of the countertop will be impenetrable to staining. A sealer can protect the remainder of the surface from stains.

You get an innovative and individual look. Some composite and recycled countertop products offer unique looks and design possibilities and haven’t yet reached the level of “everybody has it”.

Disadvantages

There is variability in the amount of “green-ness”. Certain makers of recycled countertops use recycled materials but combine them with petroleum-based binders or other less-green processes. If you’re looking for products with a high environmental impact, look closely at what goes into their makeup and production.

Products that use concrete or other type of cement-based ingredients require care similar to stone countertops. This usually involves sealing the surface periodically. To do that requires you to move everything off your countertop to seal the surface and let it cure.

Consider how and if the type of composite or recycled countertop you might choose can be repaired if necessary. A countertop whose surface area is made up of 80-90% of recycled glass might chip if something hard enough is dropped on it. Most product makers eventually develop means for repairs but newer products may not achieve that level of market maturity for a while.

Concrete and paper or glass composite countertops are your « greenest » options. Although many beleive their style can be too unique or contemporary, they can also be made to ressemble polished granite stone, without the heavy industrial impact of open-pit mining and shipping of granite, marble and natural stone. In terms of pricing, as seen below, both these options are affordable. This is contrary to the current popular belief that going green is too expensive.

General overview of how concrete countertops compare in pricing to other countertop materials: (average cost per square foot)

Granite : 100$-200$

Composites (Glass/Paper) : 90$-120$

Tile : 10$-90$

Laminate : 25$-50$

Quartz: 100$-200$

Concrete: 65$-135$

*Source: HGTV Kitchen Design’s Guide to Kitchen Countertops. Prices include installation.

Brought to you by :

KMT Design. Katie Thomassin is the co-founder of KMT Design. With over 5 years of interior design experience, Katie specializes in eco-friendly design concepts for all types of projects and budgets. She can be contacted at info@kmtdesign.net