Below is the Stats for Millwoods November 2015 stats.
 

Rising real estate is pricing many out of starting a family:

Rising real estate prices have made starting or expanding a family a luxury for more than half of Canadians, according to a new study.

According to a survey by RateSupermarket.ca, 55.6% of Canadians say their ability to start or expand a family is directly impacted by real estate prices. That number spikes to 72.11% among millennials.

“While it’s no surprise that kids are hard on the wallet – at a quarter of a million dollars to raise a baby to college-age – it is disheartening Canadians increasingly feel they must choose between home ownership and their desire to be parents,” said Penelope Graham, editor at RateSupermarket.ca. “Rising home prices, especially in Canada’s urban centres, are making it tougher for millennials to follow their family dreams.”

Rising home prices combine with the other expenses of raising a family to simply put it out of reach for many, according to the survey. For instance, more than 46% of millennials say existing debt prevents them from growing their family, and only 15.21% of all survey respondents saying that childcare was affordable in their area.

Graham said the high cost of raising families meant millennials needed to be serious about bargain-hunting when searching for homes.

“It’s more important than ever that would-be homeowners compare their mortgage options and boost their affordability with truly competitive financing,” she said.

Other survey highlights: •54.5% said family costs were greater than they expected
•52.8% said they couldn’t start or expand their family in their current home
•49.4% said they had changed their minds about their desired family size because of the expected costs

courtesy of :
http://www.repmag.ca/news/rising-real-estate-is-pricing-many-out-of-starting-a-family-199742.aspx
 

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OPEN HOUSE FROM 2 -4

This stunning brand new 2 Storey home is located in the quiet neighborhood of Allard. This luxurious home features 4 spacious upper floor bedrooms, 4 full baths with an incredible master ensuite (his & her sinks, large Jacuzzi tub), walk-in closets, and upper floor laundry. The main floor has a large living room with massive windows, soaring ceilings, gas fireplace, a gourmet kitchen, large island, tile backsplash, granite countertops throughout, beautiful stainless steel appliances, walk through pantry, and a beautiful nook area bathed in sunlight. This stunning home is completed with a full undeveloped basement awaiting your personal touch, and a massive tripe car garage with much more!
 

An owner of a condominium unit may feel secure in the knowledge that he owns title to his little piece of the building and can do as he wishes, subject to certain reasonable rules and general constraints on use and behaviour that apply to all owners, and which are found in the condo corporation’s governing documentation (the declaration, bylaws and rules).

But it may surprise you that in more than a few cases, condo unit owners have been forced against their will to vacate and sell their units, under powers granted to courts under the Ontario Condominium Act, 1998. In other words, courts can evict condo owners. While the circumstances are admittedly unusual, the common thread among them is that courts were forced to take drastic measures against one misbehaving owner in order to effectively keep peace and harmony among the others.

In these kinds of cases – which typically involve egregious, dangerous and disruptive owner behaviour over a period of time – the courts’ intervention will be prompted by an application by the condominium corporation itself, almost always after it has given the offending owner ample warning to stop.

Courts must evaluate the behaviour against the provisions of the provincial condominium act to see whether it is “oppressive and unfairly prejudicial” towards either the corporation itself or the other owners. They will also scrutinize the provisions of the particular corporation’s declaration, bylaws and rules, and will also consider whether the offending owners’ conduct poses a health risk.

Once it has concluded that a particular unit owner is disruptive, unruly or unmanageable, the court has a spectrum of remedies at its disposal. While not the most common, the most drastic is for the court to force the intractable owner to vacate and sell his unit, almost always after several prior requests and warnings by the condominium corporation have gone unheeded.

Even where the court-ordered remedy falls short of forcing the owner to sell and move out, courts will frequently force the owner to pay for any remediation or clean-up costs arising from his misconduct, and may even require payment of the legal costs incurred by the condo corporation to bring the matter before the courts in the first place. For example, in a recent case, York Condominium Corporation No. 41 v. Schneider, 2015 ONSC 3919 (CanLII), the court declined to add the corporation’s legal costs to the common expenses, concluding that “to have the (condominium corporation) and the other unit holders bear the legal costs of this application, which are incurred due to the conduct of (one misbehaving unit owner), would be unfair.”

A parade of troublemakers

So what kinds of situations will attract the courts’ intervention? A round-up of Ontario decisions from the past few years shows the types of owner misconduct that attracts a court-ordered, forced-sale remedy.

One of the early cases in this category is Metro Toronto Condominium No. 747 and Natalia Korolekh, 2010 ONSC 4448 (CanLII. It involved an incorrigible and unmanageable unit owner in a senior citizens’ building. The court described her transgressions as “serious”. It includes physical assaults on other unit holders, acts of mischief against their property, racist and homophobic slurs and threats repeatedly made against other unit holders, playing extremely loud music at night, watching and bothering other unit holders and using her large and aggressive dog to frighten and intimidate other unit holders and their children, as well as failing to clean up the dog’s feces.

After confirming that it had the requisite power under the act and the corporation’s own governing documents, the court ordered the owner to vacate and sell her unit within a stipulated period of time.

The outcome was the same in a more recent case, York Condominium Corporation No. 301 v. James, 2014 ONSC 2638 (CanLII). The owner in question had a long list of worrisome and dangerous conduct, including starting two fires in her unit, threatening others and leaving human excrement on their doorsteps, punching someone in the face, exposing herself and making obscene gestures, and forcing her way into another owner’s unit. Even though the court found that the owner clearly had a mental illness, and commented that ordering her to sell her unit might impose hardship on her, it had no other choice. It had to keep in mind the welfare of the other men, women and children in the building “who have been confronted with behaviour that ranges from disturbing to disgusting to threatening.”

In yet another decision featuring excrement (a recurring theme?), the case of Peel Condominium Corp. v. Pereira, 2013 ONSC 7340 (CanLII), had a different result. There, the offending unit owner engaged in many troubling incidents, but among the most disturbing was his established habit of throwing cat feces and litter from his balcony (and on one occasion, hitting a landscaper on the head with it). He blatantly denied the recurring behaviour, yet continued to do it even after he was repeatedly warned. He also failed to pay a $170 bill for cleaning up the litter, assaulted the building superintendent (which resulted in criminal charges that were later withdrawn), stole a bench from the building lobby (which was caught on surveillance video) and engaged in numerous incidents of verbal assaults of other residents and the property manager.

Despite finding his conduct to be “extremely serious and troubling”, the court was more temperate in its ruling: it expressly ordered the owner to comply with the act, to abide by the condo corporation’s declaration, rules and bylaws and to refrain from future verbal or physical assaults and intimidation. Perhaps most importantly to the other owners, he was specifically ordered to refrain from throwing anything from his balcony in the future. However, the court cautioned that the breach of any of these conditions would result in a court-ordered immediate sale of the owner’s unit.

Lesser misbehaviour counts too

These cases may not surprise you, since the owners’ misconduct clearly put the safety and right to peaceful enjoyment of other owners in jeopardy; it seems only fair that the collective rights of all owners should outweigh those of the individual. However, courts will readily step in even where the conduct is not so egregiously harmful to others.

For example, in the earlier-mentioned case, York Condominium Corporation No. 41 v. Schneider, 2015 ONSC 3919 (CanLII), the problem was not excrement but rather cockroaches – an infestation of them – and a pair of unit owners who refused to comply with a prior court order requiring them to facilitate access to their unit to allow for clean-up. Specifically, the court had previously ordered the owners to allow condo corporation representatives and extermination crews to enter and clean the unit, and to carry out pest extermination measures. They were also ordered to keep the unit clean to avoid future infestation and foul odours (for which they refused to accept responsibility and blamed on the neighbours’ cooking). Yet the owners completely refused to co-operate. Faced with this impasse, and since the owners had received numerous warnings in the past, the court had no choice but to order them to vacate and sell for the overall good of the owners and the corporation.

Finally, it was contraband beer sales that prompted the court to intervene in a case called York Condominium Corporation No. 82 v. Singh, 2013 ONSC 2066 (CanLII). Despite repeated warnings from the condo corporation (which were wholly ignored), as well as prior court orders (which were deliberately and wilfully disobeyed), the owners continued to sell beer from within their unit to outside parties. The court found that this was not only illegal, but also breached the corporation’s declaration and rules. Moreover, it enabled “disorderly and often lawless activities” and some violence that took place in the common areas near the unit. The court ordered the owners to sell their unit, and also barred them from the complex, seeing it as the only way to ensure that the owners’ offending conduct would stop.

What’s the bottom line?

What these cases illustrate is that Ontario courts are more than willing to take drastic steps in the face of unreasonable, dangerous and intransigent misconduct by owners, particularly where it impinges on safety or on the enjoyment by others of their individual units or the condo development as a whole.

More to the point, the decisions implicitly acknowledge that while condo unit owners have defined legal ownership rights, they still remain subject to a certain level of restriction on their conduct. These two competing rights and interests must sometimes be re-balanced; the Condominium Act, 1998 allows courts to step in and do so, when the greater good is at stake.

Courtesy of – http://www.remonline.com/courts-can-evict-condo-owners-for-bad-conduct/?utm_source=REM+Inbox+Update&utm_campaign=d17042c696-17_November_201511_16_2015&utm_medium=email&utm_term=0_3f4c7c7b65-d17042c696-62537557
 

Courtesy of Pillar to Post- A Local Inspection Team

Roof leaks are one of the leading causes of preventable property damage. A leaking roof can be disruptive and costly, and can eventually cause mold, damage to interior finishes, and even structural damage.

While it’s true that older roofs or those in disrepair are at greater risk for leaks, one of the most common causes of roof failure is poor workmanship during installation. This is not always readily apparent because it often takes a few years for a poor installation to manifest itself as a leak. Using a licensed, qualified roofing contractor for any installations or repairs is always recommended.

Let’s take a look at some of the factors that affect how a roof handles water and what they can mean when it comes to water leaks.

Pitched/sloped roofs: Pitched or sloped roofs are designed to shed water from one shingle to the next down to the roof edge, where the gutters and downspouts will carry the water away. Many people are surprised to learn that sloped roofs are not actually waterproof but instead rely on gravity and engineering to quickly move water off of the home.

Flat roofs: The most common type of flat roof is the built-up, or tar-and-gravel, roof. Flat roofs are designed to be waterproof and use a membrane such as roofing felt or specially-engineered foam to seal the surface. These roofs will have just enough slope to conduct water to a drain, which will funnel water down and off the roof surface. It’s critical to keep drains on flat roof clear of debris so water won’t back up and damage the integrity of the roof.

What causes leaks? Most roof leaks can be traced to poorly installed or worn flashing. Flashing usually consists of pieces of metal that cover gaps between the roofing material and items that penetrate through the roof such as chimneys, skylights, dormers, and roof/wall intersections. Wind and rain in just the wrong combination can cause a pitched roof to leak by compromising its water-shedding capabilities. In cold climates, ice can cause a perfectly good roof surface to leak. Ice can block the flow of water to the edge of the roof or to the drain. The water can then back up under the shingles and leak into the house.

Water leaks can have interior causes as well. Condensation in the attic due to leaking household air, or heating and/or air conditioning ducts can cause damage to the roof decking and structural framing. In severe cases it can cause water to drip back into the house. This can lead to mold and even structural damage if not corrected.

Proper installation and maintenance of roofs are key to preventing problems down the road. Homeowners should monitor their roof and attic, and contact a qualified roofing contractor at the first sign of any problems.
 

Penalties And Rates Should Be Considered When Mortgage Shopping!
CRAIG WONG
OTTAWA — The Canadian Press
Published Thursday, Oct. 15, 2015 5:30PM EDT
Last updated Thursday, Oct. 15, 2015 5:57PM EDT

Mortgage rates are near record lows, but brokers say those shopping around for a loan should look beyond the rates they’re being offered and pay close attention to how much it will cost to break their mortgages.

Divorce, a desire for a new and bigger home or an opportunity to move to another city for a new job all may prompt people to want out of a five-year mortgage early, and the penalties vary depending on the type of mortgage they have and the lender involved.

Greg Williamson, founder of the Canadian Home Buyers Academy, says nobody signs a fixed-rate five-year closed mortgage thinking they’re going to have to break it, but a significant number don’t make it the full term.

“It doesn’t really become a problem until two or three years down the road when I get divorced, or whatever happens, and I’ve got to break the mortgage and then I get absolutely whacked,” Mr. Williamson said.

Whether you’re dealing with a mortgage broker or your bank when negotiating a mortgage, he added, you should have them walk you through the penalty calculation so that you fully understand how much it will cost if you need to get out of the loan early.

Focusing on the rate may save you a few bucks on your monthly payment, but if don’t pay attention to the penalty fees, it could cost thousands more if you have to get out of the mortgage early, Mr. Williamson said.

The penalty for breaking a closed mortgage is generally the greater of three months interest on the remaining balance or the interest for the remainder of the term on the remaining balance – all calculated using something called the interest-rate differential.

While mortgage rates are at historical lows, the posted rates offered by the big Canadian banks have remained much higher. That means borrowers have received substantial discounts from the posted rates – but that can work against them when calculating the interest-rate differential when a big bank determines how much they’ll have to pay to break their mortgage.

The interest-rate differential is meant to compensate the lender for having the loan paid early, but Frank Napolitano, manager partner at Mortgage Brokers Ottawa, noted the penalties differ depending on the lender – something to keep in mind when shopping around for a mortgage.

Mr. Napolitano says smaller lenders that specialize in mortgages may offer better terms if you need to break your mortgage early, and that could save a homeowner thousands.

“It could mean whether they get any equity out of the home after three years,” he said.

Mr. Napolitano noted that penalty calculations are different if you hold a variable-rate mortgage. Getting out of such a loan will generally set you back three months’ interest, which is for the most part less than the cost to break most fixed-rate mortgages.

But if that makes variable-rate mortgages seem attractive, borrowers need to be comfortable with the other aspects of such a loan, including the possibility that the interest rate you pay could go higher.

“Don’t take a variable-rate mortgage just because the penalty is less,” Mr. Napolitano said. “You want to take a variable-rate mortgage because you think it is the right mortgage to have.”

Curtsy Of-
CRAIG WONG
OTTAWA — The Canadian Press
Published Thursday, Oct. 15, 2015 5:30PM EDT
Last updated Thursday, Oct. 15, 2015 5:57PM EDT
http://www.theglobeandmail.com/globe-investor/personal-finance/mortgages/penalties-and-rates-should-be-considered-when-mortgage-shopping/article26831348/
 

Curtsy of- http://www.edmonton.ca/residential_neighbourhoods/property-tax-assessment.aspx
 

Are you looking for something fun to do this week? Look no further, the Edmonton Home Show is in town this weekend down at the Edmonton Expo Center! Photo curtsy of : http://www.edmontonfallhomeshow.com/EHS/EventsHome.aspx