Archive for July, 2010

Real Estate activity slowed slightly in St Thomas as compared to June 2009.

Although listings were up slightly by 9.6% with 126 listings as compared to 115 in June 2009, sales slumped by 30% in June 2010 with 63 sales as compared to 90 sales in June 2009.

However sales year to date are up slightly by 6% with 371 sales as compared to 350 sales at this time in 2009.

The average sale price of homes remains steady averaging $181,954 year to date as compared to $180,079 as of June 2009.

Is this the right time to buy or sell?

Buyer’s and Seller’s must remember that the newly implemented HST does not apply to the sale price of a resale home – it only applies to “new” homes. And interest rates remain low making mortgage payments a better option than rent payments.

Contact Earl Taylor – Broker with Coldwell Banker at Success Realty for more information call me at 519-633-5570 http://www.realestateinstthomas.com


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Fire Insurance

No one plans on or expects a fire to happen to them. But it is possible, and fire insurance on any dwelling is an absolute necessity. If you have a mortgage on your home that is insured by the National Housing Act the fire insurance policy you take out must be equal to the full replacement value of the building. And as housing costs rise so should the amount of your policy. Also, your policy should be large enough to help you recover your own investment in the building as well.

Policies are generally renewable each year. If you are building or having a home built, you should also consider having insurance to cover the building period as an added security measure.

Third Party Insurance

Civil liability or third party insurance is highly recommended to cover your personal liability in the event that a visitor to your property sustains an injury. It protects you in the event the visitor sues you for damages. Package policies are available to homeowners to provide them with a full benefit package. Fire and third party insurance can also be included in a package protecting you against theft, loss or destruction of contents as well as property damage caused by Mother Nature.

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Jumbo the ElephantColdwell Banker at Success Realty welcomes you to St Thomas…
St Thomas is a city on the move. A thriving community with a population of over 36,000 strategically located, just minutes from the 401 corridor and halfway between Detroit on the west; Toronto and Buffalo on the east. Each is just a little more than 2 hours away.
Rich in History… St Thomas was named after Thomas Talbot who helped promote development of the region in the early 19th century and was incorporated as a City in 1881. Visitors are drawn to the dramatic statue of Jumbo the famed African elephant and star of Barnum & Baileys circus who died in a train accident in 1885. A total of 26 railways have passed through the city since 1856 and St Thomas is known as “The Railway Capital of Canada”. Today children are drawn to Thomas the Tank Engine who visits every summer.
Outdoors… Visit the Pinafore and Waterworks Parks for an afternoon, the Port Stanley beach on the north shore of Lake Erie, camping and Conservation Areas and many excellent golf courses are only minutes away.
Shopping… Downtown St Thomas is the cultural and civic heart of the city. The city’s indoor shopping centre is Elgin Mall featuring a Galaxy multiplex cinema.
Recreation and Leisure… St Thomas boosts an excellent choice of leisure and recreational facilities including the Douglas Tarry Sports Complex, the Timken Community Centre plus a modern Seniors’ Centre, YMCA and Curling Club.
Arts and Culture… There’s plenty to get involved with including the St Thomas – Elgin Public Art Centre, the St Thomas Public Library, the Elgin Theatre Guild, the Elgin County Museum and Archives, the Elgin Military Museum, the Elgin County Railway Museum and the CASO Train Station.
Community Facilities… Residents depend on the excellent medical care at the St Thomas – Elgin Hospital, superb schools including Fanshawe College – Elgin Campus and we are only minutes away from the University of Western Ontario.
Come for a visit to explore our city. When you decide that St Thomas is the perfect place for your retirement or to raise your growing family please contact us today.
We’re here to help.
For more information about St Thomas visit http://www.city.st-thomas.on.ca

Earl Taylor -Broker
Coldwell Banker at Success Realty, Brokerage
566 Talbot Street, St Thomas ON N5P 1C4
Direct 519-670-9223

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Resale Home Buyers Exempt From New HST Charge
I have just received a booklet in the mail titled “What changes – and what doesn’t change – under HST”.
Under the heading of “Home Purchases” it states that for “New Homes up to $400,000″ prior to July 1, 2010 there was a 5% GST charge and No PST. But after July 1, 2010 “there is No Change to the amount of tax payable under HST”.
But the fine print reads “The new housing rebate will be 75 per cent of the Ontario component of the HST, up to a maximum of $24,000″.
I ask myself, if there’s No Change to the tax structure why would a new home buyer get a 75% rebate? The 8% Ontario tax portion of the HST for a $400,000 home equals $32,000 but a new home buyer will get a maximum rebate of $24,000 leaving the buyer with an $8,000 hole in their pocket.
Where does the “No Change” come into effect?
I visited MPP Steve Peters’ office and was also told that in most cases there was no change to the tax structure but that I should read the fine print regarding the 75% rebate.
I called the 1-800 number in the pamphlet and they admitted that the booklet is misleading and that yes a new home buyer would be paying more tax for their new home. Plus labour, materials and land will all attract a new 8% tax.
On the bright side, a buyer of a resale home pays no tax on the purchase price of their home.
Which would you rather have?
Earl Taylor
As published in the St Thomas Times Journal on July 13, 2010

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Its July 5th and the bracket holding my Canadian flag pole to the front of my house decided to break. So I made and installed a new bracket to hold my Canadian flag.
But as I stood back to admire my flag it made me take a look up and down my street looking for other flags. But I was disappointed because I saw none. I know that a friend of mine at the end of my street does have both a Canadian flag and a Union Jack proudly displayed on the front of his house – I can’t see it from here but I drive by it everyday and think wow! So why doesn’t everyone have a Canadian flag on display?
As a nation we proudly celebrated Canada Day just 4 days ago! Canada replaced the Union Jack with The Maple Leaf design on February 15, 1965.
Take a look at your neighbourhood. Does anyone have a Canadian flag on display? If not, why not start a trend and get one installed now.
Let’s make it a goal to have a Canadian flag installed on every home and business in Canada by Canada Day 2011. It starts with you!

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