Tomorrow is Da-Day

I get the results of my accounting exam tomorrow. It's been nearly 3 full months since I've written it. Last year at this time, I was petrified. This year I have not yet panicked about it. I'm only slightly more confident than last year. I could still fail just as easily. I'm hoping that all goes well tomorrow. I don't find out until 12 -noon. Wish me luck! Ciao!

Bandwagon blogging...

This is a little different. I'm jumping on the blogging bandwagon. Well, the hot topic the last couple of days has been Canadian politics??? I guess we have the ying to Obama's yang? Not really, but at least people are taking an interest in politics a little bit. I had a discussion with my friend the other day, and I decided that there were enough emails back and forth to be able to blog about. I have copied some parts and threw together multiple emails. Things may seem a little fragmented, but I hope that I can make it flow. Originally, this was a set of emails going back and forth, and this blog only displays the "forth" part.

I have paraphrased and edited my comments below:

I don’t think a coalition government is a very democratic parliamentary option in Canada. Canadians may have chosen to vote against a Harper majority, but they still voted to give him power and not power to a coalition government. I hope it’s just a big game of chicken. We certainly do not need another election at the moment. We need a government in place to deal with the financial crisis.

The issue has started from mistakes that Harper has made. First, he refused the right to strike for public servants. Second, he wanted to take money away from political parties that received compensation for their election expenses. Given the strength of the Conservatives in fundraising in other methods, this seriously jeopardized the independence parliamentarians need in order to be effective in a democratic government. A saavy political move to weaken opponents, fundamentally it was wrong as it would give lobbyists more power. Lobbyists would essentially become the funders of elections and their money would be used to further their causes, not the will of the people. Therefore, in order to stop Harper from pulling the fundraising carpet from under other political parties, a strong opposition is beneficial.

I take this line from the Citizen - "The craziest part is that the Liberals have done precisely what any decent Official Opposition should do --dig in hard against unacceptable government action to force change. The Harper government has also reacted the way minority governments should, by bending to the will of rivals and rethinking a bad move." This is how a minority government should work.

I voted for a strong Liberal opposition, and not a coalition. Coalitions work in other parts of the world because they are openly discussed. We haven’t had a coalition in Canada since WWI. The current buzz on parliament has been created by a bunch of backroom deals (not very democratic in my books). I don't want to generalize too much about all coalition governments, but the proposed merger is a slap in the face to Canadian voters. I think parliament worked very effectively as a minority government during the last session, and Canadians voted for more of the same. It might have frustrated many people, but that is what we voted for.

Brace yourself.

I think there is a fundamental difference between voting down the government and forming a coalition. Just because Harper has proposed items that have stirred the pot, it does not mean that the opposition has the right to revoke the choice of Canadians during the election. To say that he is using a dictator’s approach by railroading his policies through, and, he needs to have his powers revoked, is buying into the media rhetoric. Harper has subsequently backed down from some of his proposals, thus, the opposition parties have no basis to form a coalition as they are being effective in controlling him. The only unresolved issue is the economy, but this issue was openly discussed in the election and Canadians have entrusted Harper with its management. It was the biggest issue during the election, so, again, the opposition has no basis to seize power.

Fundamentally, the reason for the coalition is so that the NDP and Liberals can manage the economy with a $30 billion stimulus package. They are doing this despite a clear an open debate during the election on the economy. Canadians were able to evaluate this and obviously preferred the Harper approach where he urged that our economy is in better shape than the American one, and there is no immediate need to panic. Harper has been in consultation with other world leaders and economists to help him decide the best course of action. They are attempting to clean up spending, and are releasing a new budget early next year.

On the other hand, the package proposed by the new “coalition” primarily is supposed to benefit the auto sector and other manufacturing. These are unionized environments, and Jack Layton is simply succumbing to the power of his primary source of electoral support. There is a reason that the NDP was forcing the issue, first with the Bloc then with the Liberals. If Layton didn’t do this and help the automotive and manufacturing sectors, he would not have the support in future elections.

Now, I don’t know the exact details of the stimulus package, but $30 billion is a lot of money. My concern is that the automotive sector and some manufacturing have been on life support for quite a while. Automotive giants Chrysler, Ford and GM have been flawed with poor designs and out of date manufacturing processes. They have survived for years on subsidies and tax breaks from governments just to keep plants open in key electoral battlegrounds. This probably sounds cold as many people would end up losing their jobs, but the $30 billion is just a one-time fix up. It will only be a matter of time before the money runs out and Canadians are both out of a job and $30 billion dollars.

Finally, I feel bad for Dion. He is being villified by the conservatives, but at the same time, his new "coalition" is simply leaving up to hang. Party leader hopefuls are acting like cowards behind the scenes. If Canada was in a true crisis, why do they not come forward? How is it that a man deemed not fit to lead the Liberal party be deemed to lead our country during a financial crisis? Overall, the current political environment stinks as there appears to be rampant opportunism on both sides of the political spectrum. Ultimately, I think parliamentarians should respect the will of the election which was a minority Conservative government. This government should be more cooperative and make parliament work.

Lost a friend on facebook... Tear.

When you share a kitchen or a bathroom with your landlord. You are not under the regular landlord and tenant responsibilities. As this is the case, contract law is used to decide disputes with such arrangements.

Now, I decided to forego a written agreement for a couple of reasons. First, I didn't want to be bound by the agreement. If the term of the agreement was for a year, I may be bound to that agreement despite the way that I may or may not get along with my co-habitant. I wanted to protect myself. Second, I wanted to sell the room and a month to month type of verbal arrangement becomes much more appealing to renters. From new jobs to lifestyle changes, there are a thousand reasons for why a tenant wants the flexibility to move.

When my co-habitant decided to move out, I want not upset that she was actually moving out. In fact, she barely lived in the house and did not make the house feel like any sort of home. In a way, she was the perfect tenant; because, she paid rent; and, she didn't require space for food, did not dirty dishes, or even breathe my air. That being said, it was always an awkward feeling when she came home and didn't talk to me or my roommates.

The understanding that I had with her was that we were under a month to month type of arrangement and all that she had to pay for was rent. Utilities were included. She understood that month to month meant that she could move out at any point. She was right because we never had a written deal, and it would be difficult for me to prove anything else. If she had gotten a new job, decided that she could no longer afford the room, or even another decent reason, I would have less pissed off about it.

I thought she had pulled a classless, gutless, and cowardly move by announcing 10 days before the end of the month by announcing her termination over a facebook message. She stated in her message "I will be vacating the backroom of 75 Arlington at the end of November. I have been looking for something more private." More private? Give me a break. You agreed to the room knowing that it was at the back of the kitchen. If you had a need for privacy, you would have never taken the room. If it was a serious problem, why not discuss that you are looking for a new place in the meantime? I just wanted to be informed. I do not want to lose rent money.

Since she pissed me off, I decided to retaliate. Nobody fucks with me like that and thinks that they can feel good about themselves. I decided to threaten to sue her. I told her that she owed me two months rent due to the fact that she did not give me 60 days notice. She fought back claiming that we did not have any written agreement. I told her that a verbal agreement was reached and I have evidence. She had terminated our "non-written" agreement over facebook. Verbal agreements are enforceable and I intend on taking her to small claims court.

She then quoted a definition of a verbal agreement. I will finish my discussion using the last two messages that were exchanged between us. I have subsequently lost a facebook friend. Tear.

Krystine:

"And I quote:"Three Elements of a Verbal ContractIn order to be considered valid, a verbal contract must contain three elements: offer, acceptance, and consideration.

• Offer: The person making the offer in a verbal contract must communicate their intent to enter into a contract. A verbal contract is not considered valid if all parties do not agree to the terms of the offer. Also, verbal contracts are only valid for a specified period of time and not indefinitely.

• Acceptance: A verbal contract is not valid until the offer is accepted. The acceptance of a verbal contract occurs when the person to whom the contract is offered voluntarily indicates agreement to its terms and conditions.

• Consideration: In addition to an offer and acceptance, verbal contracts must contain consideration. This means that each side must give the other something of value for the agreement to be binding. In most verbal contracts, this is an exchange of money, such as a down payment. However, in some cases, it is not money but a promise that is exchanged."There has been no verbal agreement.

We discussed Rent, payment and when. That does not imply a notice. Agreement by omission is unethical!I am done communicating this with you. The Landlord and Tenant Board has backed me and says I have nothing to worry about, legal or otherwise and I am free to move out at the end of the month. I will have vacated the room by November 30th.

Krystine, Tenant."

Chad:

"This will be my last statement.

First, there has been a verbal agreement by virtue of the offer and acceptance of the terms of what we had discussed. You wouldn't have sent me a notice of intent if there had been no agreement. Consideration was your promiss to pay me on the first of every month. Therefore, a verbal agreement has been reached and I have evidence from these facebook messages.

Second, unethical? I have not hidden anything from you. If you were unclear about any elements, you certainly did not address them. The fact that you told me over facebook your intention to leave with only 10 days notice is classless, sneaky, cowardly and malicious. 60 days is standard. I may have been more forgiving if you had of come to me directly when things weren't working out, but you have given me no indication whatsoever and now I'm about to lose out on rent money. I'm prepared to fight for this.

Finally, the Landlord and Tenant board has no jurisdiction over this matter, and frankly, I do not care what they have to say. I will seek my own legal advice, and you can be sure that I will follow that advice.

Have a nice day,
Chad, Landlord

P.S. Please be sure to ensure the property is vacated in the same condition you inherited it. Otherwise, you will be billed."

Sens game in a box tonight!

I am going to the game tonight against the Leafs. I am super-excited. The Leafs will show how much they suck. I predict a 6-2 final for the Sens. I thought I would post this to remind people of the incentive to use me as a real estate agent in the future. Even if you live out of town, I will be able to give you some great references to help you. Go Sens Go!

PS. I think I will talk about "the incident" in the next day or two...

Room for rent

I have a room for rent. $500 gets you everything you need. Cable and high-speed internet are included. The only catch is that the room is a little bit drafty, but I will buy you a space heater to ensure your comfort. The room is on the ground floor behind the kitchen. There are 3 guys currently living in the house.

Now, if I don't get to rent the room, I might consider some other options in the future. I'd like to make it an office at some point. I think the rooms is better served as an office than a bedroom. That being said, I like money and having two mortgages becomes a lot more affordable when someone is living in the room.

The only other option that I forsee is to create a bedroom in the basement. That way, the room will not be so drafty and that I will be able to collect some more rent money. In fact, I may consider doing some insulating work in the spring if I can muster up enough money.

Results of poll...

Awhile ago, I asked people to vote on their favoured method of compensation when it comes to a referral program. Options included: tickets to a hockey game, cash, steak dinner, gift certificates, or even something else. The vote was nearly unanimous. People want hockey tickets. Now, I know I haven't started to do any buying or selling of real estate, but this gives me a good start to know what I need to do to get the word out.

This is what I am thinking. If you come to me and buy or sell a property, you'll obviously get some tickets. If you refer me to a friend that leads to a real estate transaction, I will get some more tickets for you. Therefore, you don't even need to buy a house to get some tickets. Now, I'll make sure they are good tickets. My clients will not be sitting in the nose bleeds. I am going to make the extra effort to ensure that my clients are completely satisfied. Hopefully, they will be completely satisfied in working with me achieving their real estate goals, and the hockey tickets will serve as the cherry on top.

Again, this is likely very dependent on where I end up working, but this is what I want to do for my clients. I'm not sure what to do for some of the non-hockey fans out there...

PS. I'm not ready to comment on the previous post just yet. I need a new roommate though, so if you know anyone please drop me a line.

As the world turns...

An interesting development today occurred with one of my rental properties. I'll discuss this more when I feel that all of the issues have been properly addressed or resolved. Stay tuned.

Another assessment...

Before people start thinking of me as a cheap prick, I have asked for my home to be re-assessed on only one of my homes. My Stittsville property has increased in value, but ultimately, I do not have any objections to the assessed value. My Ottawa property on Arlington, however, was a different story.

Now, I want to say that I think that the municipal property assessment corporation (MPAC) is somewhat poorly organized. First, they had re-assessed the value of my home at $191,000 in the spring. I was perfectly happy with this number as it saves me a lot of money when it comes to property taxes. Despite the re-assessment only being 6 months old, they re-performed the valuation of my property and my property's value increased to $253,000!!! A $62,000 increase in only 6 months! Although this would be a nice return on my investment, it means that my property taxes have just shot through the roof. To make matters worse, the City of Ottawa is proposing a minimum 4.9% tax increase next year as well.

Now, I think a 32% increase in my property value over 6 months is a bit ridiculous. This is especially true given the fact that all I've done to renovate the place is get rid of the garbage, and paint a couple of the walls. Therefore, I got on my horse and called MPAC. They agreed to re-assess the home yet again.

This time, however, they decided that they needed to inspect the inside of the house. I had no problems with this as I could easily justify the value of the house being lower. I have the advantage of having my neighbour having his home listed for sale. He is asking $214,900 at the moment. His home is in worse shape though than mine, but nonetheless it is likely the best comparable. Given the fact that my house isn't in perfect condition, I was able to get an idea of what my home should be valued at.

Before I say what the home was re-assessed at, I want to give people a warning if they are thinking about getting a re-assessment performed. MPAC has access to records of house listings. I had listed my house in the summer to see if I could sell it. I listed at $259,000 at the time. Hence, they had made a valuation of my home based in part on my listing price for my home. Arguably, this is a decent estimate of the value of the home. Thankfully, I had received no formal offers on the house and only received calls of interest. I had a verbal offer for my house, but nothing written on paper. This saved me hundreds of dollars on my property taxes as a result. Therefore, if you plan on living in a home, please be careful in listing your house unless you truly want to sell. You may be re-assessed on your property taxes as an undesired consequence.

After all of this, my home was re-assessed at $218,000. I am okay with this amount. It still represents a 14% increase from my original assessment, but it probably accurately reflects the value of my home. I could argue the amount further by appealing the decision to a tribunal, but ultimately, I am not going to be able to save that much more money. I did manage to lower the tax base by $35,000, so I am quite happy with that.

Ottawa Real Estate Market

I'm sorry to those government workers that read my blog on a nearly daily basis. I know that you are constently busy looking at stuff on the internet, and you stop by my blog to kill a little time by reading what I have to write. I said that I would post my opinions about the Ottawa Real Estate Market, and since I've said that I was going to post, my opinions have changed somewhat. I wanted to digest some of the recent economic news before I decided to make an opinion. I'm sorry for waiting a few days between posts.

Now, Ottawa is a unique town. We are a government town. We are somewhat protected from economic boom and bust cycles. We are not immune, but protected. What does this mean for real estate? Well, first, it means that you are not going to double your money on your real estate investment in one or two years. We never have such a hiring spree that we have excess amounts of workers in our city looking for houses. We also do not have the mass exodus of workers when times have taken a turn for the worse. Ottawa doesn't suffer the ups and downs of gold-rush-like town, so our growth is usually modest and steadily increasing.

That being said, the Ottawa job scene has deteriorated somewhat in recent months. Nortel, a former darling of the pageant, continues to cut jobs. In addition, the City of Ottawa is facing a budget crisis and are thinking about cutting jobs. These seem like troubling times for our city, but the news isn't as bad as it looks. Although, housing prices will cool a little bit as a result of these job cuts, this presents a good opportunity for those that continue to work.

Housing prices do not fall instantly. They take time because home-owners want to maximize what they pay for a house. They can always start high and come down later. Therefore, I think you will see the prices coming down in the next few months. It will be a chilly winter for real estate sales, but things should warm up in the spring again. With mortgage rates at near all-time lows, it seems ludicrous to me as to why you wouldn't want to lock in a mortgage at these rates. I think, from an investment point of view, you have to like the current conditions to buy. As the old saying goes, "buy low, sell high".

If you've already bought a house, don't feel bad. You've likely locked in a great mortgage, so over the long-term, you have made a great investment decision. I'm just outlining when the housing prices will reach its bottom. It's pure speculation, but I think it's an interesting concept to discuss.

A lesson in economics... with today's news.

If you believe recent headlines, we are heading for the next depression. Now, I don't disagree that the markets are in a bit of a slump, but there are no real reasons for panicking in Canada except for the paranoia that has been created by various news media. There is no question that the housing market in the United States has plummeted. In Canada, recent job reports have been somewhat encouraging, so I don't see why the media is drawing parallels between the economies.

Granted, the US is our largest trading partner, so their economic troubles do have an impact on the success of the Canadian economy. That being said, our country is running, albeit small, a surplus, compared to the massive deficits created by President Bush. In addition, the US economy required a bailout package for its financing institutions due to their problems with the sub-prime mortgage crisis. In Canada, we have essentially provided our banks with an asset swap to help them out. We've given them now a total of $75 billion in the swap. I've been reading comments on news site and a lot of people are misstaking this for a bailout.

This is not a bailout. The Canadian government is providing cash to the banks to ease their liquidity problems. What does this mean?? Well, the banks have mortgages to individuals that they are expecting to collect over the next number of years. The banks are stretched to the point where they no longer have the cash to continue lending at current rates. The mortgages are still good, but they eat up the banks reserves. Banks can only lend so much money despite their abilities to make billion dollar profits.

I may make things more clear if I used an example. If I lent you (consumer)$1000 at a rate of 5% for one year, you would pay me $1050 in one year. As the lender (bank), I would make $50, but I lose my ability to loan another $1000 to someone else unless I can borrow another $1000. This is where the government can step in. The government can pay me (bank) $1025 for the ownership of the mortgage. The government will earn $25 when the loan matures, and I (bank) will earn $25 plus maybe another $50 from another loan that I could create.

The reason the government wants to do this is because these types of loans are critical for the success of our economy. First, the person that needs the first loan may be able to receive the needed cash to purchase a home. Next, if someone else needed money to start a business, they would not be able to acquire any cash. On a macro-level, a person would only be able to get the financing if they were willing to pay a higher interest rate. A lot of people may not want to get into business if they have to pay too high of an interest rate. The risk would be too great. By providing a mortgage swap, the Canadian government is assuring Canadians that they can borrow at low rates and be able to continue to stimulate the economy.

In my next post, I will discuss my outlook for the Canadian real estate market. I'll make a prediction for Ottawa, and when will the best time will be to get into the market. Obviously, I'm talking strictly from a investment point of view, dollars and cents. When purchasing a home for your own use, dollars and cents matters, but it is only a part of the overall satisfaction with living in your own particular home.

Phase 1 - OREA exam

For anyone looking for a real estate agent in the near future, I am one step closer to being able to officially help you out. I passed the exam I wrote on Saturday. I thought it was pretty easy except that I really don't think that I had taken enough time to study for it. I did the whole course in 3 weeks. It was a crunch to study for as I was painting in the house, going curling 3 nights a week, working overtime at work, going to Tweed for a curling bonspiel, and doing various other things.

Next, Phase 2. I've already signed up, but I don't expect to write that exam until January 17th. This should give me a little more time to study a little better. This will allow me to study a lot during the Christmas holidays and ensure that I will know all of the requireds inside and out.

So, the next set of results that I will be waiting for are my results from writing the UFE. They arrive on the 5th of December at noon. Of all of the exams that I am planning to write in the next little while (or have already written), this is the exam I want to pass the most. It is, by far, the hardest exam I've ever written. I'm not sure that I could go through the process again. It's very stressful for even an even-keeled individual like myself. I'm not sure I am willing to go though it again.

Calling all tradespeople....

I was asked today by a friend about referring a mason. Unfortunately, I do not know any masons. I figure that it's probably a good idea to start to get to know some tradespeople. In fact, if you know someone or you are one and I don't realize it, I'd be happy to post things on my blog with respect to some of the work that you've done or had done to a home.

I know a newly licenced plumber, my cousin Jason. Jason has been working now for a few years in the plumbing business and, this past weekend, we had a party to celebrate his passing of his plumbing exam. Jason is now sub-contracting to his former employer, and will likely accept other jobs that come available if you need a licenced plumber.

Jason was able to help me with an issue at the time of the purchase of my Arlington home. During closing, the seller had tried to slip some information in the agreement about the water and sewer. As my home was built in 1905, this was standard practice back then, but now the standards have changed. Jason was able to advise to me that the water and sewer really do not pose much of an issue, but simply that the standards are simply different for semi-detached homes.

MPAC - My new enemy...

If you've been reading this blog for awhile now, you might remember the time when I bought my Arlington house that I decided to get my house re-assessed for property tax purposes. I was successful in my endeavors as I had my assessment base change from $233,000 to 191,000. This reduction of $42,000 meant that I saved this year on my property tax bill. I probably saved close to $500 this year. I was very happy with my work.

Unfortunately, the Municipal Property Assessment Corporation (MPAC) has decided that all homes are being re-assessed for 2008, as most properties were assessed last in 2005. Since they were doing all properties, I had both my Fringewood and Arlington properies re-assessed. Now, the standard increase has been 3.36% in the City of Ottawa. This translates into that my Fringewood home is now assessed at $214,000, an increase of 3.16% year over year, from 190,000. I have no real issue here. In fact, I can likely find evidence that the Fringewood property is worth more, but I will keep my mouth shut for now.

On the other hand, my Arlington property was a bit of a shocker. Despite having a re-assessment performed only 6 months ago, my property tax base increased from $191,000 to $253,000. $62,000!!! This translates to an 8.12% increase year over year since 2005. This is more than double the rate of the rest of the City of Ottawa. I am planning to appeal this decision. This means probably $3-4K over the next few years in extra property taxes. The increase is supposed to be phased in, but I'm going to do everything in my power to reverse this decision.

I have evidence to support my position. Although it's nice to see the assessed value of my home increase (as it means my home's value has increased), I do not want to be spending a fortune on property taxes. I have started the appeal process, and along with my evidence, I will present everthing in future post (maybe tomorrow even).

Happy Hallowe'en!!!!

Boo! Geez, I can be scary. Well, I have a bunch of boxes and such now in the house, so I am going to have to make sure that Scotty gets settled in. He brought a newer couch, so I guess there isn't as pressure on my part to get the new furniture right away. This is good news for me cause I am pushing to get my real estate licence and that costs money. The sooner I get my real estate licence, the sooner I can try to recoup some of these expenses and re-invest in other things for the home, like furniture.

I'm just finding that although I am saving a lot of money by renting out the rooms, I am spending a lot of money on things like tuition and curling tournaments. It's all part of investments, so hopefully I will start to see some larger returns on my money in the near future. For the time being, the money will continue to come into my pocket and leave it by the end of the month. I can't wait to be able to start selling homes.

Test #1 of 3 is tomorrow. I haven't covered all of the material yet, but hope to do so tonight. I haven't found the material to be terribly difficult yet, but I could be surprised tomorrow on the exam. I guess we'll just have to wait and see. Let's hope I can continue my torrid pace through these courses and I don't have any bumps in the road.

Full House.. and some tidbits...

Although not quite the Danny, Joey, Jesse, Becky, DJ, Steph and Michelle, the rooms are now full in my house. Scotty moves in today and I had spent last night trying to get a new coat of paint on his walls before he moved in. I've been so busy lately that I have been postponing some of the household repairs, but this weekend should see an improvement in that regard.

On a side note, there are no more houses listed in the Fringewood area of Stittsville. Since I own a house in that area, it will be interesting to see how the market develops over the winter. It's not an overly active area, but the surrounding area is seeing a lot of new development. I'm thinking of disposing of the property in the spring or summer next year, but I think it will be more market dependent.

Good news on the international front today. In the roller coaster that is the economy, the US has reported a better than expected performance in the 3rd quarter. Since it had been doom and gloom in the US, any news of this sort is expected to help the world's markets, and hopefully will make this economic slowdown a very brief and mild one.

Time is short.

I don't have much time today, so this is more just an update. I am writing my real estate exam this Saturday, so that means that I will be inside studying on Hallowe'en night. I'm a little behind in the material at this point, but the material is pretty easy so far, so I do not anticipate many problems on Saturday.

This is exam one of three before I can go and get my license.

Budgeting

When you are going to go and buy your home, there are a few extra costs that you might not consider. For example, I've mentioned lawyer fees and home inspections in previous posts. All of these costs can add up quickly. They can eat into your downpayment, and although you may be approved for a larger amount, you likely want to keep your mortgage to a minimum.

I would say that you should plan to spend between 4-5 thousand in cash, outside of your downpayment. Why is this important? Well, if you are planning to take advantage of the Home Buyer's plan, you will need cash to pay for your deposit (usually about $2000), plus things like home inspections and lawyer fees. These items add up quickly and you may not be able to get the cash out of your RRSP's quickly enough to close a deal. The last thing you would want is a house of your dreams slipping through your fingers because you have your money "tied-up".

This is also important when it comes to mortgage insurance. Canada's mortgage system requires that you purchase insurance on a mortgage where you do not have a minimum of 25% deposit. 25% deposit is a very large sum and if you are near that amount, you'll want to ensure that you will have enough cash to pay for any extra costs that might incur. You don't want to buy the insurance because it gets expensive in the long-run.

Now, I'm being conservative by estimating $4-5K. You will likely not need this much cash for everything, but it will be good that you have an extra buffer of cash. Not only can things come up during the buying process, there is a good likelihood that things will occur after you purchase a house. I'm not saying that these items will be house related, but you need to ensure that you can pay for that car repair, plane ticket, or anything else that comes at you unexpectedly.

Buying a home will likely be your largest commitment in your life. With marriage's getting shorter, a 25-year mortgage is a hefty burden and it becomes a larger burden than most marriages, financially and in terms of length.

Lawyer fees

The other day someone had asked me about lawyer fees on a real estate purchase. This is a bit of a tricky area. It's sort of like the Southwest Airlines commercials. You know, the ones where the guys are scuba diving when one of the men realize that is no oxygen tank, and finds out after he's under water that there was an extra charge. There are always extra costs to consider.

First, I was charged $400 by my lawyer, but that did not include many of his disbursements. Some lawyer's may include their disbursements in their quotes, so the quotes can differ quite a bit. When I went for a mortgage, the mortgage broker had estimated costs of about $1400 for a lawyer. I am assuming that this amount included many of the disbursements. All in all, I paid about $1000 for all of my legal work. This includes title registration and other various things lawyer's do. I recommend that you budget for the worse (say $1400) just in case, but realistically it should be less if you have a decent lawyer.

ORIEO

Unfortunately, I was unable to attend last night's meeting of OREIO (OttawaReal Estate Investors Organization). I had curling to attend. It was our first night at Carp's Tubman league. For the record, we won 8-1 after 6 ends. It was a slow start for our team, but we managed the game well and made shots when we really needed to.

So, I diverted a little bit from what I wanted to talk about. At this point, I do not know much about OREIO, but it looks like the perfect type of organization that meets my needs as a potential real estate agent/owner. I would like to go to the meetings, which are held about once a month, but they fall on my curling night. I think I am going to have to wait until there is a meeting that appeals to me directly, and I'll miss a night or two of curling.

From what I understand, there are a ton of real estate people at these meetings. It allows for some really good networking to occur. From mortgages to investment opportunities, there is a lot of information and contacts to gather. I think it will be quite worth it for myself and any of my potential real estate clients.

I know most people that read this aren't going to be real estate investors, but I wanted to let you know that I am continuing to gather information about real estate and how that may help you in the future if you happen to use me as your real estate agent. I'll have good contacts for mortgages, home inspections, repairs, etc.

New poll... reward program!

Ok. If you're reading this on facebook, I'd like you to take a moment to visit featherslam.blogspot.com. On this website, I have included a new poll asking visitors their preferred compensation in a referral reward program. I'd like for you to go and vote. It will give me an indication to what might motivate people to use word-of-mouth to help me out in my little real estate venture.

Why a referral program? Well, real estate is all about relationships and my network is only so big. In order for me to be a successful real estate agent, I believe that I need to do two things. First, get the word out. Second, work hard to gain the knowledge and trust that is needed to deliver to my clients.

What kind of people am I looking for? Pretty much anyone that is looking to get involved in real estate, either buying or selling. If you're a buyer, I'm free. I do not charge any fees to help you look for a property. I earn a commission only when I help you purchase a home. The money that I am paid comes from the seller's proceeds, so I can help you choose the right home at no cost to the buyer. Nothing! Therefore, if you're referring a buyer to me, I will compensate you if I am able to make a sale. It's a pretty good deal. You get a reward and it does not cost your friends a dime.

Planting the real estate seed...

I'm not going to say that real estate is easy, but getting the word out that I'm going to be a real estate agent is pretty easy. It's a good introduction for people. It allows me to let them know that if they ever need someone to buy or sell a home that I would be available to them. The person may not be ready to buy or sell right away, but at least they know that I will soon be able to help them out.

So, when do I get my licence? Well, that isn't for certain yet. There are three courses that I need to pass first to be eligible. Typically, as I understand, it should take about 6 months to complete. Unfortunately, I don't think I want to spend that much time waiting for the exams to occur. I'm going to push myself to write right away, so that I can begin selling in 2009. I'm not sure if it's even possible with the way the exams are scheduled, but I will push for that.

So, if you're sitting there thinking, I think I would like to help Chad out with getting started in real estate, well, here's something I can do for you now. I'm going to give you a little bit of planning advice. If you're seriously thinking about buying a house in the near future, begin by putting money into an RRSP. You're going to need a downpayment for the house, so you might as well do this. Under a program called the Home Buyer's Plan (HBP), you can withdraw up to $20,000 from your RRSP for your first home. The only catch is that the money has to have been in your RRSP for 90 days. Therefore, before you go and start looking for your home, you should be putting your downpayment into an RRSP, so that you will be able to save on your taxes next year, and have a decent downpayment for your home.

So, how does this help me? Well, first, it gets me 90 days closer to my real estate licence. :P Next, it will also give you a natural buffer for giving yourself enough time to make the right decision on likely your biggest investment decision of your life. That way, I can ensure that you will be a very satisfied customer and that you will refer me to anyone else you know that may be looking at purchasing a home.

Chad the Real Estate Agent

Ok. Maybe I'm nuts. Two careers? I always liked the idea of things like new home sales, residential resales, commercial properties, and property management, but it seems as if I have jumped into the real estate game a little faster than I really had originally expected.

I've ordered the course materials and now I am studying to get my real estate licence. I write the first of 3 exams November 1st. It's a little bit rushed, but I want to complete it before I get too busy with my other job. Once the new year rolls around, I'm not going to have much time to study with all of the curling that I will be doing as well.

Someone told me that it takes about 6 months to complete the set of exams, but I'm going to push myself to try to be done most of my work by the new year. That only gives me about 3 months, but I really don't mind reading the materials because it is of great interest to me.

So, if you're thinking about buying a house in the near future, I'd like to hear from you. As an accountant, I can help you plan different ways to help you save for your house and save some money. As a real estate agent, I can help you find the house you want for the price that is reasonable. The earlier we start the process, the better you will be in the long-run. Buying a house is serious business. It will likely be the single-most important investment in your life, so you want to do your homework. I'm helping people because its what I want to do with my career. I can help you ensure that you will be comfortable with your home purchase.

Bedroom painted

I painted the bedroom at the back of the kitchen before Kristyne had moved in. I wanted to get a coat of paint on the walls because the room looked especially dirty due to a lack of care from the previous tenants. I think the room looks 1000 times better than it did, and that I am proud that I was able to install a light fixture without too much hassle.

I'm not a handyman, but I am learning. Electrical work is definetely not my specialty, so I was glad I was able to do it without any help. I'm also glad that I have not burned down the house either. I guess I am more Al "my mother is huge" Borland than Tim "the tool man" Taylor, but there are plenty of other household improvements that I can certainly screw up, but things are coming along decently.

Hopefully, I will have the ground floor all painted by the weekend (except the kitchen).

Realtor.ca

It looks like there is a new website to check out properties. Formerly, mls.ca the site has now changed to realtor.ca. It appears as if they property search function has combined with google maps to provide precise details of property locations. I have mixed feelings about this. First, I probably just don't like adjusting to something that is new. That being said, I do like the feature where properties are imuputed on a map, so that detailed locations can be seen. This is an added feature for those people that may not be familiar with all of the streets in the area.

Now, I encourage you to keep an eye on properties in your area if you are interested in purchasing a house in the next couple of years. It's good to know the market a little bit, so that you know what you can expect to pay when it comes time. It gives you an idea of what it costs, and it also gives you an opportunity to plan your down payment a little bit better. You may consider investing in RRSP's, tax savings account (new in 2009), or other investment choices while trying to build up a down payment. It's important to plan because there are certain rules and regulations that you need to follow in order to be able to take advantage of tax savings.

I'll probably talk about tax implications a bit more in a future post, but I want people to check out realtor.ca today, so that they can plan on where they would like to live and begin the planning process as soon as they can.

US subprime crisis

In a previous post, I mentioned my desire to become a real estate agent. I want to be able to access some key information and networks that will allow me to maximize the potential in a home that I buy or a home that I buy for someone else. I think it will be a key part of being able to get some deals completed. This doesn't come without consequences.

With the housing market in the US taking a huge hit, many Canadians are concerned about the economy north of the border taking a dive as well. Canadians are stretched financially with 40 year mortgages with no money down. There is a real risk that the market does take a hit as banks have been generous with their loaning policies. To me, this indicates that it may not be the best time to enter the market as a real estate agent. The markets are too volatile.

There are two reasons I believe that there will not be a crash in Canada. First, the banks are still loaning money at rates affordable to them in Canada. Even though they are taking on bigger risks, they are protected with rights to the underlying assets. Mumble jumble to you? Simply put, in the US, the banks borrow money at rate A, but loan out at rate B. Due to the intense competition, rate A is higher than rate B thus the banks are poised to lose money. In Canada, rate A is still lower than rate B.

Why would the banks do this in the US? To make it simple, they want to do business with you. Customer loyalty translates into extra revenue in forms of fees and surcharges. However, when the economy started to slow down in the US, people lost their jobs are were forced to try to sell their homes. Subsequently, the price of homes dropped because there are more sellers than buyers.

My second reason for why Canada will be better off than the US is that our economic fundamentals are better. What does this mean? Well, first off, Canadians are continuously paying off their national debt. We are saving billions of dollars in interest charges while the US is poised to sink $700 billion more this week. This is not including the future interest costs.

Next, we are running surpluses in Canada. Albeit, they have been smaller in recent months, but, nonetheless, our revenues exceed our expenses. Given the slowdown in the US economy, we are poised to feel a slight pinch from our biggest trading partner. What does this mean for the housing market? Well, it means that if we needed a bailout package such as the one in the US, we are in a much better position to fight off a recession. Therefore, people will be better suited to keep their jobs and not be forced to sell their homes. I could be wrong, but I think I make sense.

Therefore, given all of the housing market volatility, I am still poised to become a part-time real estate agent. I have an interest in this kind of stuff and I want to be able to help people as much as I can. This is merely a hobby for me, and not a career. My approach as a real estate agent is that I have information available, but I'm not going to force a sale down your throat. I don't need you to buy a house to put food on my table. I'm an accountant, but I like investment decisions.

2 new roomies

I've finally got a full house. Unfortunately, not in the Mary-Kate and Ashley Olson kind of way. All of the rooms in my house have been spoken for. I originally had wanted to have 2 girls move in so that the house has a better chance to remain clean, but I decided to go with a friend of a friend instead.

Both people moving in appear to be mature, and hopefully respectful to my property. I'm going month to month with them as I need to be sure that I will get along and not necessarily committed to them for a whole year. There is one guy and one girl moving in. The girl is moving in this week, while the guy, next month.

I could have had another girl move in, but there was some comfort issues. First, I was supposed to meet her one night to show her the house. After 30 minutes, I decided that I would leave the house and go to the gym because she hadn't shown up yet. Graham, my roommate, happend to be home when she finally showed up and showed her the house. Graham tried to engage in conversation with the girl and was unable to do so. She then emailed me to tell me that she would take the place. I wasn't comfortable with this so I asked my new roommates to accept the rooms quickly. I feel a lot better now.

With two more people moving in, this means another $1000 a month coming my way. This is huge in terms of speeding up the renovations. I'm very excited. I'll probably end up getting some new furniture first though. The seating arrangements in the living room are not quite where I want them to be.

Sold???

It looks like my neighbour at 73 Arlington will have a sold house very soon. While I was at the gym last night, a man stopped by my house and left Graham, my roommate, a note to call him back. The man is buying the neighbour's house and wanted to talk to me about something.

Of course, I called him back right away to discuss the purchase. I mentioned that I originally had been interested in purchasing that side of the house as well when he asked me if I was selling my half of the house. At that point, I told him "no". I just bought the house and was planning to do renovations on my side. This guy was an investor and he was looking to buy both halves like I did. Unfortunately, he has the money to do so, but the news is not all that bad.

I like the fact that the guy is willing to do renovations. I had asked whether or not he was going to continue to rent the property or do a quick flip. He did not know the answer. It doesn't matter. The fact that he will be using a lot of money on his side of the house (he estimated 50-60K) means that the direct comparable to my house will increase in value. If it's a quick flip, I can probably see him re-listing in the spring and setting a new precedent for the value of my house.

Now, his side is very different than mine. Well, not completely different, but with some notable differences. First, I have a living room and dining room on the main floor. He has a living room and a bedroom. Next, I have a larger kitchen due to the fact that he has a small bathroom located on the back portion of his kitchen. Finally, his basement is not finished while I have my second bathroom located there. Therefore, I think my home has two things. First, it has more potential. Second, it will cost less to do the renovations.

I think it has more potential due to the size of the kitchen for example. It is big and capable of becoming a very sellable feature of the home. In the other side, for example, the bathroom would have to be removed to get the same effect. Regardless, if the investor wants to do that on that side of the house, by all means, I hope he does.

These are the days that I love real estate the most. They are the surprises that you don't expect. It gives me optimism and confidence that I am doing the right things with respect to my investment. My "hobby" is getting serious.

When hobbies get serious...

Over the course of my short real estate hobby, I have had many people ask me questions about the process, my experiences, and my thoughts on various things relating to real estate. I am always glad to help and that is part of the reason that I have created this blog. I try to share my experiences so that people can read and learn and figure out how to best go about purchasing a home for themselves or as an investment.

The problem is that the questions have started to become more pointed. They are no longer general inquiries, but questions relating to specific properties. Unfortunately, I do not have access to all of the information that is needed to make a proper assessment for people, and this frustrates me. I usually have to refer them to a real estate agent, so that the person can properly assess the situation.

Now, I've had a great experience with my real estate agent, Jeff, but I think its more prudent that I take the next step in my hobby. I'm going to start looking into becoming a part-time real estate agent. Weekends and evenings are usually showing times, so I should be able to manage my duties on a part-time basis. In addition, I'm going to be able to list my investment properties without the fear of losing 5% on real estate commissions.

Also, it's going to give me a better opporunity to get better information for people when they are looking at homes. If there has been one thing that I really like about real estate, it is that I gather information to help make a decision. How long has it been listed? What does a place like this rent for? What are the costs of renovations? Is it a bargain? Is it overvalued? What's the expectation for this area in terms of property values? Can I afford it? Where should I buy?

Chad meets Exit Realty on Monday.

1st coat

I have started to paint in the house. It's taking awhile, but it's coming along. I really think that it has given the house more character and cleanliness at the same time. I'm not sure that I am 100% sold on one of the colours, but it seems complimentary to the brown that I have chosen, so I don't know whether or not I want to change things.

I also want to wait until I post any pictures of the rooms. I would really like to do a before and after type of analysis. Since I have not bought any furniture for the living or dining rooms yet, I do not want to post the pictures for that reason.

Painting is a slower process than I had anticipated. This house had many scratches and dent in the walls, so it took awhile to try to mud and sand the walls. It's more in the waiting for things to dry, but it makes the nights go by a little quicker when I can work for a little bit each night and then go to the gym or do some other house chores.

The other night I got a lot of help and I am very thankful for it. Beer currency works wonders except when you make someone work overtime. I'm now at the point where 90% of the cutting is done and 80% of living room and dining rooms have at least one coat of paint.

Done!!!

For those that didn't know, I finished my studying and wrote the UFE last week. The UFE, the exam that I had failed last year, is the final exam in the process in trying to become a chartered accountant. There are a total of 3 exams in the process and there are 3 days worth of exams for the UFE. It's a heavy load and it uses a lot of mental resources to succeed. Not only does it take a bunch of knowledge, it also puts a lot of stress on a person. It is more of a mental marathon than a sprint, so its exhausting and daunting, but its important to keep studying even if you think you are ahead or behind.

But, now I am done! Hopefully, I passed though. It's a terrible experience in terms of dealing with stress and anxiety, and I really do not want to go through the process again.

To the unformed, writing the UFE is similar to writing an essay in school. In many ways, you can prepare properly and think you've created a masterpiece only to find out that the teacher didn't like what you wrote and you end up with a miserable grade. The reason for this is because the exam is relative to your peers. The exam is bell curved, so that the "best" students are passed. CA students are usually recruited before they graduate, so students are often very smart individuals. Therefore, like pimpin', its not easy.

So, how did I do this year? I don't really know obviously, other than I know that I prepared better this year. I knew I didn't kill the exam, but I thought I had managed to cover as much material as I needed to without getting frustrated. I think that's a key component to the exam, so hopefully it translates into success. I just have 2 and a half months till I get my results. Cross your fingers for me.

Garbage done.

So, I moved into the house at Arlington, but there was enough work to do. There's a few things still lying around for garbage day next week, but most of the stuff involve large pieces of furniture, so I'm keeping the stuff until I get stuff to replace them.

The garbage didn't go on the first weekend. It was outside, but because the previous tenants had just tossed things outside, the garbagemen didn't pick anything up. I had to, unfortunately, pick up the existing garbage and clean-up some of the inside of the house. Since there was so much garbage outside it began to stink. On Sunday night, magots had even found its way all over the garbage outside. I was very happy to see the garbagemen take the garbage Monday morning. In fact, when they came, their eyes lit up and took my garbage away with a smile.

Next, I am cleaning the walls so that I can paint. I need to take out the nails, pins, and screws. Mud the walls, and sand them. Then, I will begin to paint. I pay in beer currency if anyone would like to get some experience in painting.

Almost a month

Well, I certainly did not expect to stop writing in this blog, but the reality is that I've been super-busy with things. First, I was playing nearly every night in ball back near the end of August. It was playoff time, so it meant that I was playing about 4 nights a week. The DNTW Eagles lost in the first round against the Stittsville 56ers. We had a good season, but unfortunately left on a sour note with a couple of blowouts.

Exit Realty fared slightly better. They made it past the Rogues in 2 games, but failed to give the Guzzlers any real competition in the 2nd round. Unfortunately, we lost our last game by the score of 1-0. A tough loss, but reflected our inability to get the bats going all year.

The biggest reason for my blog departure is the fact that I have moved to 75 Arlington. I have found a new roommate in Graham Conners, but we're still in the process of doing clean-ups after the tenants have left. It has been a very hectic few weeks trying to get things organized, cleaned, repaired, or bought. Things are coming along nicely and I will try to post before and after pictures of the house in future postings.

No more showings...

The house is essentially off the real estate market. I talked to Jeff today and I asked him to stop the showings on the house. Technically, the place is still listed until September 8th or so, but people will not be able to see the house anymore. Although I could be very disappointed, I am optimistic about the resale value of the place as I received a couple of generous offers without having done any improvements to the home.

I am going to move in for sure September 1st. I am on the hunt for the right roomates, but I am confident that that won't be a problem.

By taking the house off the market, I am essentially going to hold it for at least another year to allow for home improvements to be completed.

Runs for high, Runs against Lowe

Last night in the nightcap, Exit Realty was able to defeat Stan's Diner Draughts 4-0 after some outstanding pitching from ace Will Lowe. Lowe has been great this year despite the lack of wins in the BMFL. A statistical anamoly, Will has been able to dominate against some of the best hitters the BMFL has to offer. He is the Roy Halladay of the BMFL. He does not get the run support when needed most.

Last night appeared to be one of those nights for Will. He had pitched his way into the 6th inning with Exit only up by a score of 1-0. With 3 more runs in the bottom of the sixth, Exit was able to provide Will with the insurance he needed to get the win. Will's composure has been a lot better this year. Although Will is handicapped, he is a physical force that can dominate.

With 2 outs in the bottom of the sixth, Exit's rookie Scott Cassidy provided a very, very clutch single that was able to score 2 runners. Scott may still be trying to settle in at the plate, but he comes through when needed the most.

Exit Realty will be busy this week. They have multiple rain-outs that they must make up before the playoffs start. They are hoping that they will have a shot at second place with a string of wins.

The search continues...

I'm still looking for people to co-habitate with. I've posted my place on facebook and the Carleton housing website to help with the search. Although I've received some interest, people have not committed to renting the place. In fact, I've only shown the place to one person so far. That being said, I do have one renter, so I am batting 1.000 on that one.

Ball "Exits" Blackburn

Tuesday's early game featured a battle between the corporate sell-outs. Recently renamed Mr. Electric and Exit Realty battled hard to jockey for some key points before the playoffs.

In a game that saw Exit Realty go down early and hard, Exit's bats came alive on Tuesday night. After giving up a 3-run homerun in the top of the 1st to the hot hitting Steve "My wife loves my swollen finger" Walman, Denis "Pickle" McNicol seemed to settle into a pitching groove. Unfortunately, Exit's defense didn't get into the same groove until about the 3rd.

Thankfully, Exit had the long ball working. With 3 homeruns, a couple of balls off the fence, and a handful of other base hits, Exit made Mr. Electric's ace look old (he's only about 20, so it's hard to do). Will "I am a cartoon" Mood hit 2 dingers while "Pickle" had 1 single dinger. Eric "Pedro" Sanchez had a hard line drive off the fence in right center. Of Sanchez' hit I commented, "Hey Pedro, trouble getting it up, eh? They've got drugs for that now."

Later, Pedro had a chance to respond after I hit a ball to the warning track. "Nice hit Chugger, but it looks like you're a typical young guy. You can get it up, but not for long enough."

It's fun when we are hitting.

Nothing much to report.

My house is still listed and I am still getting quite a few showings. It certainly does appear as if my place is overpriced as I am not really getting many offers. It probably has more to do with the condition of the house, and not the "true" value of the home. However, it likely means that I will be definetely moving in in September. This was my original plan, and I am not losing out as a result.

Secondly, I have given a deadline to sell the house. I am going to go and visit my sister in Thunder Bay in a couple of days, for a few days. When I return, I will begin showing the house for renters. I need to get some people before September actually arrives. I have no doubt that I will be able to find some people to rent, but I will not be seeking any buyers for the home. The deadline will probably be about a week from tonight.

More showings...

The other night I made the decision to remain firm on my price, and every day I become more and more confident that I made the right decision. Each day I receive a phone call from Remax about showing the house again. I feel bad for my current tenants for all of the intrusions, but business is business, and I need to sell my house.

Well, I don't need to sell my house. I need to sell my house at a price that I will be very comfortable accepting. When I listed the house, I was not expecting to sell it. I was merely trying to help establish a solid base for which my house is worth. With the neighbors house on the market, I want him to sell his place to set a new precedent for the value of a house in the neighborhood. Given that I am directly next door, his house is the most relevant comparable, so I need for him to sell at a premium.

Little did I know, our houses weren't priced out of the market. We have had showings left, right and centre. I've gotten a couple of offers, but nothing worthwhile at this point. It gives me a lot of hope that my neighbor will be able to sell his home very soon and establish that new threshold that I am looking for.

The biggest problem that I have is the fact that I know that, if my house was fixed up, I could draw an offer closer to $300,000, if not more. A similar house went on the market recently for that amount, and given a little bit of market appreciation, I could stand to make even more money. That being said, mo' money, mo' problems is the rationale for trying to sell the house now. If I can make a quick buck without the headaches and hassle, I plan on doing so. It will free up a lot of cash for me, and I will have many other options in which to invest in.

Up the ante...

The offer of $224,500 has increased. It's up to $231,000. Jeff and I wanted some more movement on their part before negotiations got serious. Verbally, Jeff and I agreed that we would counter with $257,000. I have 2 more showings, so I feel no pressure to have many significant deviations from my original asking price.

The neighbor's house should sell before any deal on my part. His is listed at a lower price, but I am not planning to undercut my competition. I want to set a new precedent for my house. When his house is sold, I will have that much more leverage and will be able to make that much more money.

Another offer...

I got an offer last night while I was playing some ball. $224,500. This offer is better than the first offer and its in writing this time. Again, I am very doubtful that this will turn into anything as the neighbor's house is still listed. I am going to remain firm on my price, but we'll see if things do pan out.

Jeff still needs to get back to me about what our course of action should be because I trust his experience. I know what I want to do with the house, and Jeff has been great about trying to achieve that goal, but I'd like to use his experience to see how we should react given this particular situation.

I want to remind people that I am under no duress to sell this place. If I don't get close to my asking price of $259,000, I do not plan to sell the house.

Blackburn tournament

Exit Realty finished the weekend with a 3-2 record. This meant a trip to the semi-finals in a game which we lost to the eventual victors, Mr. Electric.

Despite some really close games on the weekend, the game between Mr. Electric and Exit Realty must have been the most dramatic. Keanu Reeves could not have even provided for that much drama. In a close 1-0 game going into the bottom of the 7th, Mr. Electric scored the tying run with only one out remaining. To them, it would be like picking up a hot chick at closing, nearly impossible, but an amazing finish.

Exit Realty opened the scoring in the 4th inning. While pitching a perfect game until that point, Nick Bowmann walked the first batter of the inning (me). I advanced on a beautiful sacrifice bunt by Terry Jones. I later scored on a ground ball that went through the infield.

Will Lowe, Exit's pitcher, was pitching an equal gem of a game. After pitching 7 innings in the quarters, Will never looked tired in the semis. With two outs already in the 7th inning, Exit Realty looked poised to win the game. Unfortunately, the defence behind him got unlucky.

With Nick Bowmann running for Steve Walman, Shannon Borho hit a slow grounder towards emergency 2nd baseman, Will Mood. Mood, waiting for the grounder, positioned his body directly behind the ball, but the ball hit a divot and the game became tied as it rolled past him. Exit would get out of the inning without any further damage.

With international base running rule in effect for the 8th inning, Exit Realty was able to score Al Tomlinson from 2nd base. This was no easy task. Terry Jones mentioned that he was going to time Al's speed from 2nd to 3rd, but he didn't bring his calendar. Regardless, Wayne Hunter was able to single him in. Exit Realty, however, could not provide any more offence in the inning.

In the bottom half of the inning, Mr. Electric didn't waste any time. On an attempted sacrifice bunt, the runner was able to make it to first before the throw. The runner from 2nd made it safely to third as well. Exit Realty was in a big hole. Will Lowe could not stop the bleeding and Mr. Electric would eventually score 2 in the inning on some clutch hits. They got advance to the finals.

It was a great game for the fans to watch. There was some classic small ball, and Mr. Electric were deserving champions. They eventually beat the Good ol' Boys in another tight 3-2 game.

4 showings this weekend

Just to keep people informed, I had 4 appointments to see the house this past weekend. I've received no offers so far. I doubt I will see much of an offer until the place next door sells. It is listed $20,000 less, so I definetely expect it to go first.

I want to remind everyone that I am not really trying to sell my home. I'm more or less testing the market. I am getting a lot of viewings for the place, but the general consensus is that people want to move into a home where renovations do not have to be done. Listed at $259,000, this means that I can put a lot of money into renovations and still expect to get people interested in the home because I only spent $200,500 on on the home.

In a way, I hope that the neighbour's house does not sell. At first, it would have provided me with a new basis on which to value my home. With the new listing price, I can now see what the guy is likely to accept upon an offer in the future, from me. With all of the viewings, I know that I can make some quick money on the properties if I am able to renovate.

House next door...

I'm not sure if I have mentioned this before, but the house next door to my house is for sale. It is part of the reason that I have listed my home. I thought it might make for a good investment opportunity for someone to own both homes. Except, I'm not really offering any sort of market discount to encourage this type of sale.

Anyways, the point of this blog posting is to update the status of the house next door. They have a new price. The owner has listed it at $239,000 from $249,000. I'm slightly disappointed by this as I would have preferred the base price for my hom to be higher, but there is very little I can do about the market. The thing I don't understand is the fact that I had approached the owner about a month ago and pretty much agreeing to pay about $230,000 in a private deal next year.

The reason this does not make sense for the guy is the fact that real estate commissions are going to eat away at his profits. Realistically, he will have to settle for about $230,000 and then he will lose 5% on commissions. Essentially, he will walk away with only $218,500. This will be in addition to any adjustments and legal fees he incurs.

This guy does not know business. If the house does not sell during the listing period, I think I know what kind of price I will be able to offer him when I am prepared to purchase. In fact, I've seen a couple of more places that would be a prime investment. I'll discuss these later.

Videos posted

The other day I posted some videos that I found of a guy named Bo Burnam. I'm not sure if you guys had seen him before, but I thought I would post his videos on the blog. I think he's hilarious.

2 types of showings tonight

First, I will be taking a local student around the house tonight to see if they are interested in renting one of the rooms. This will mark the first showing of the house and it will give me an idea of the interest there is from the rental market on the home. I had decided to begin the showings before August as the number of viewings of the house have declined since the past weekend. I expect the number of viewings to continue to decline over time.

That being said, I did get a call last night for another viewing tonight to see about selling the place. As much as it would be nice to take the money from a sale and run with it, it makes more financial sense for me to continue to rent the property and sell the property at another point in time. Therefore, I have convinced myself to remain very firm on my price.

High School Party!

My Whole Family

Rehab Song

Apple pie

A Love Ballad

This is bo yo!

Math is now cool!

1st offer...

Not much to get excited about here. I received a call yesterday from Jeff, my real estate agent, while I was playing at Hope Beach Volleyball. Jeff had left a message on my phone, but with all of the music playing at Hope Beach, I could not make out what he was saying. It didn't help that I might have had a couple of Gin and 7's at that point.

Nonetheless, I did end up finding out that there was a verbal discussion with another agent in the amount of $221,000. This is somewhat encouraging. When I bought the house for $200,500 in February, I didn't really think that I could have made so much money so quickly. It's nice to know that my house is appreciating in value without any work done to the place.

Now, with a listing price of $259,000, there was no way that I was going to sell. In fact, 221 is almost insulting. Mind you, I did the same thing essentially when I bought the place. Call it business...

Anyways, the offer is a start. I'm not expecting to sell within the next month for my asking price, so I will likely be taking it off the market shortly. It's more of a market experiment. It's good to gauge what people are looking for when it comes to a home purchase. I've already learned a lot about my house.

The next step will be to find some roomates. I'll be trying to show the house in August when I have some time off of work for my study period. For now, I have been receiving a lot of requests to see the place, so I have no fear about finding roomates. It will be tricky though to find some good ones.

Some new pics of my home...

As expected...

As expected, I have not received any offers on my downtown Ottawa home. I think the market is hot in the area, but people do not necessarily want to take the time and money to make the home into its true value. I had two showings last night and there was another appointment this afternoon, but these individuals came to look at the home without seeing any of the interior pictures. I'm not optimistic yet about receiving an offer.

As excited as I am about selling the home, I am pessimistic about my opportunities to sell it at this point in time. This is not necessarily a bad thing as I found out yesterday at lunch it only takes me 4 minutes to go home from work. I really like this feature about my home. The access to the Queensway will be a key component to making the house work for me. It is probably the single biggest reason I purchased the home. This will also be the biggest reason for me to hold firm on my asking price.

The other reason to hold firm on my asking price is the fact that another home has been placed on the market in the same neighborhood as my home. 225 Arlington has been listed at $349,000. This is a single family home in a good condition. This gives me some indication as to the upside potential of my home. Since my home is a semi-detached, I am probably looking at the neighborhood of $320,000 as the upper limit of the market. I'd have to do a lot of work to get that price, but it still leaves me with a lot of wiggle room for improvements.

To further support my argument, there was a home recently listed at $300,000 that sold within a couple of days on Arlington. This was a semi-detached similar to mine and was obviously in decent shape. I have the opportunity to do a nice flip, but at this point, I'm hoping to make the money without sweating.

We'll see what happens.

Downtown market report

Pictures to come...

The house is listed and today Jeff and I are going to go and take some pictures of the interior. I'm hoping that the showings will yield an offer. I'm doubtful as I am not sure the buyers are necessarily aware that the house is in need of a little bit of TLC.

Again, here is the the listing.

FOR SALE!!!

My house is listed on MLS here.

A little fun...

I've decided to add another poll to the blog. Please vote on whether you think I should sell or hold my downtown property. For those people that read my site through facebook, please visit featherslam.blogspot.com.

Another whim...

Tonight I go and visit Jeff. I've convinced myself to try and sell my downtown property. What prompted this? Simple. Money!!!

The house next door, which I once considered purchasing, is now listed on the market for $249,000. Now, I believe that my house is in better shape. Therefore, I think I should be able to get a decent return on my original investment of $200,000. This is a nice little chunk of change. There are many costs on my end that I need to worry about, but I am going to discuss this with Jeff and we're going to see if the numbers are going to work for me.

There is still a strong chance that I keep my place. I'm thinking that I will offer my home up in the hope that an investor would be coming along that wishes to purchase both halves of the semi. If that's the case, I'm hoping that he's going to pay a slight premium and that I will have made some money without actually doing anything to the property except hold it.

If I sell the place, I think I will go with a condo centrally located. Realistically, I do not really want to live with anyone. I'd like the privacy that I get with a condo. The place would also be smaller so I wouldn't have to spend a fortune on furnishing the place either.

This is my latest whim, but I expect that not much will happen from it. I have set a short timeline to help gauge interest, but if nothing happens too soon, I will continue to look for renters and move in September 1st.

Canada Day in Kenmore

Tomorrow, Canada Day, I will be participating in a fastball game between the Greely DNTW Eagles and Team Easton. This event is being hosted by the Kenmore Community Association and the Kenmore Minor Ball Association. As the Eagles have given the community free clinics on fastball for the kids, the Kenmore community is doing a HUGE favour by showcasing some of the best fastball in Eastern Ontario.

Team Easton is slated to compete in the World Championships in Wisconsin later this year, and the Eagles are looking to take flight in the GOFL with a big win. There would be nothing sweeter than a victory in front of a group of potential fans and supporters. Frankly, this is a huge event for the Eagles as they will be showcased in the local papers and newsletters. The Eagles could not be prouder to be a part of the main attraction to the Kenmore Community's Canada Day festivities.

Getting some nibbles...

I posted on facebook's marketplace program the rooms up for rent in my Ottawa home. Although, I have not shown the place to anyone yet. I am confident that I will be able to rent it out in September. In fact, given the amount of time that there is left before school starts in September, I may consider increasing the rent a little bit. I doubt I will, but at least I know there is some demand for my place and that a little bit of an increase would ease the financial burden on myself once I decide to move in.

Ideally, I am still going to prefer someone I know versus someone I don't know. Therefore, if you know someone that would be a good roommate, and is looking to move in September, send them my way. The rent is $500/month with all utilities included.

Patience...

It looks like I will be waiting about a year before my next property purchase. I had thought that I would act quickly on a tip, but since there are expected to be some high transaction costs, I am going to wait a year to re-evaluate the decision to try to buy my neighbor's house.

This weekend I'm...

ETT Gets first victory... by default

The A's should be ashamed of themselves. They only had 4 players show up on Tuesday night for their game against Ed Taylor's Team. If the A's want to compete for the regular season title, they will have to do a better job of showing up. Our apologies to the replacement players that were generous enough to spare some of their time. Our apologies to Ed Taylor's Team for not being able to play the game. I'm just as angry about it because I drive from Stittsville to play. I also gave up my opportunity to play in Quyon for the Eagles. Hopefully, this will never have to happen again this summer.

Decent batting practice though.

A's win short game

Wally's A's played against the Rogues tonight in a rain shortened game. Will Mood started for the A's, while Kevin Wilson started for the Rogues. The A's wasted no time in their offensive attack. Serge Gauthier led of the bottom half of the first inning with a single.

Alex Davies was the next one up to bat. He layed down an excellent bunt and was able to get down the line quickly. The Rogues, seemingly unprepared for the bunt, misfired on the execution of the out and the A's had 2 on with nobody out.

Eric "Pedro" Sanchez was up next. He too layed down a beautiful bunt. This time the Rogues were ready and were able to get the speedy Sanchez out at first. 2 on, 1 away.

Next, Will Mood, our most dangerous hitter came up and surprisingly struck out. Usually clutch in RBI situations, Mood must have had a touch of rust from returning from his 2 game suspension.

Thankfully, with 2 outs, we had Sheldon Howard come up to the plate and deliver a beautiful single to score a pair of runs. The A's got another hit in the inning, but failed to score.

The A's would have runners on in the second, but again had failed to cash them in.

In the third, the A's had a chance to break open the game as they had loaded up the bases. They managed to do a little bit of damage, but ultimately the Rogues escaped relatively unscathed.

The final score was 4-1 after 4 1/2 innings. The rain had began to fall pretty hard and the teams pushed hard to get the game in.

It looks as if the Rogues are an improved team this year. Their two new guys look like they will fit in quite nicely. Defensively, Matt Peters looked solid at second base. He pitched in tonight offensively as well. Kevin Wilson was on the mound tonight and although he was tagged for 4 runs, he kept most of the A's hits in the infield or just through. I played with him for Ed Taylor's Team the other night, and had noticed his agility while he was playing centerfield. He looks like a player that can fill any hole in the lineup. The Rogues did well with their drafting it seems from a one game analysis.

House for Sale - Stittsville

Alright, in order to buy the downtown place, I have to sell my place in Stittsville. I'm going to let the current tenants have the first chance at buying it, but I need to sell this place if I want any chance to buy my neighboring property downtown. If you know someone that is looking for a starter home in the West end. Please send them my way.

A's vs. Blues

From a centrefielder's viewpoint, this was a lousy game. I did not have one ball hit to me. From a pitcher's point of view, it was nearly a perfect game. Denis McNicol pitched a gem on Thursday night against the Blues, a 2-hitter. The A's ended up winning the game 4-1.

After going perfect through 4 innings, McNicol gave up a line shot to right field. With an excellent diving attempt by Martin Desjardins, the ball bounced in and out of his glove. Blad, of the Blues, took advantage of the dropped ball and moved to second on the play. With the scorekeepers still scratching their head as to whether or not an error should be charged on the play, Kelly Burchill hit a bloop single to help score the Blues only run of the game.

The A's had jumped to an early lead. With the bases loaded, I hit a hard grounder to 2nd base. The 2nd baseman had bobbled the ball, and everyone was going to be safe on the bases. Thanks to some heads-up baserunning by McNicol, he was able to score from 2nd on the infield error. The A's were up 2-0 after one.

The A's continued their hot sticks in the 2nd inning. They managed to score 2 more runs on some nice hits. Unfortunately, the A's were playing with only 8 batters, so they had to deal with an automatic out. This out seemed to stall any sort of rally that we would have in the later innings.

Jason Smith, of the Guzzlers, pitched for the Blues. He had struggled early in the game with his control, hitting two batters, but settled down nicely after some encouraging words from Steve Walman, "Keep pitching... don't worry about the hit batters. Just focus on pitching". Steve's words seemed to work as Smith was able to settle down and keep the A's bats quiet for the rest of the game.

The player of the game had to be McNicol. From a centrefield perspective, he was hitting the glove on most occasions. His curveball was working, and he seemed to control the outer half of the plate. It seemed, if he fell behind at all, he could always go back to that pitch on the outside.

The A's look forward to their upcoming game against the Rogues. This will mark the return of Will Mood from his 2 game suspension for throwing a bat.

Downtown is hot!!!

The downtown market is hot! As I usually do, I check the prices on mls.ca regularly and noticed that there was a property listed on Arlington. It was a semi-detached, so it is a direct comparable to the property that I had purchased in February. I contacted Jeff, my real estate man, to possibly scope out the place. I wouldn't mind stealing a couple of ideas to make the home worth that particular listing price. It would give me a good idea on how to budget myself.

Unfortunately, the place has already sold! There is a conditional sale on the place, but given the fact that the property was sold in 5 days, there is a good chance the property went for list price or even higher. The offers were presented only a couple of days ago. I'm hoping this means that I can make a lot of money.

I purchased my place for $200,500. This place was listed at $300,000. I've only been able to see $$$ all day!

A's initiate Ed Taylor's Team

When a rookie joins a team, existing players will often torment their new teammates with some form of hazing. When Ed Taylor's Team joined the BMFL, the A's could think of no better way than to beat EDT. On Sunday night, the A's faced off against EDT and won 8-4.

Much credit needs to be given to EDT. They had the lead late into the game with some good pitching from Mike Goodfellow. They had given the A's a run for their money, and kept the game in their favour for most of the game. Unfortunately, in the top half of the 7th inning, the A's exploded for 6 runs.

Crazy Will led off the inning with a surprising triple. This seemed to motivate the A's hitters as they kept pounding away at cutting the 4-2 lead that EDT had built up. When it was all said and done, the A's proved again that they can never be counted out.

The A's started the game without centre-fielder Will Mood. Will was serving game 1 of his 2 game suspension. As he is usually our clean-up hitter, the A's had a huge offensive hole in their line-up. The slack would have to be picked up by the rest of the roster. In addition, Shelley Howard's recent ankle injury has limited the A's defensive options. Clearly, the A's would have to pull up their socks and grind out a win.

The A's missed many opportunities in the game to score and build a lead. With runners in scoring position, A's batters got stymied and struck out at keys times. They were not capitalizing on their opportunities. Thankfully, they were able to find their touch before the end of the game.

The A's play the Blues on Thursday night at 9pm.

I survived!!!

For those that knew, I survived. For those that didn't, I went skydiving today and made it!

Lowe dominant again

After giving up a first pitch hit, thus ending Lowe's no hit streak, Will settled down nicely to lead Exit Realty to a 4-1?? victory against the Guzzlers. In a game where Exit lost one of their game-breakers, Exit was never quite able to break the game open. With the bases usually pretty full, Exit was never able capitalize with a timely base hit. Their bats have yet to awaken this spring.

Moody Mood

In a game where umpires made us scratch our heads, Will Mood grounded out and, in frustration, threw his bat against the nearby fence. Without hesitation, Mood was tossed from the game and is doubtful for the next game contingent on a review of the league's constitution. Losing Will will be a huge loss for us, so lets hope that the rest of Exit Realty's bats pick up the slack.

In the second inning with one strike, Lowe had thrown a nice strike on the corner of the plate. Surprisingly, from behing the plate we heard, "YOU'RE OUT!!!". Did the umpire just call a strikeout with just 2 strikes??? Clearly, we were going to have a long night with some of the calls from behind the plate.

Equally head-numbing was when Will Mood was at the plate for the first time. The first pitch came in and the ball missed the plate; the umpire announced ball 1. The second pitch was a riseball and went over the catcher's head to the backstop, the count was 1-1. WTF??? Again, it appeared as if something was missed. Mood was getting a little Moody.

At his second plate appearance, there was another call that was unfavorable to Mood. A ball seemed low and away, but it was called a strike. Mood grounded out shortly thereafter, and in frustration threw his bat against the fence.

Most nights, blue does not get a lot of respect. They have a tough job and, naturally, with so many judgement calls, they will be questioned on a regular basis. It's a thankless job, but for the most part, most mistakes can be forgiven. On nights where arithmetic becomes a problem, I begin to have a problem. I can accept a wrong call on a judgement play, but calling a strikeout with only 2 strikes is unfair to both teams in the game. Granted, the call was in our favour, but the attention of the game changes from the game itself to the men wearing blue.

Busy weekend ahead...

2 games tonight - Exit Realty vs. Guzzlers, Eagles vs. Orleans
1 game Friday - Eagles vs. WC Electric
2 games Saturday - Williamburg tourney
1 Skydive Sunday
1 game Sunday - Exit Realty vs. Ed Taylor's Team
1 game Monday - Eagles vs. Manotick Lomor Printers

check this out...

http://www.greelydntweagles.ca

Living room furniture

Ok. I might be getting ahead of myself a little bit. I haven't quite set out a budget for my new place. I had some time before some of my fastball games this week, so I stopped by a couple of furniture stores. These are some of the items that I happend to like.

I will likely be definitely getting a sofa.

I might get the loveseat. I have to check my room dimensions again.

I am hesitant to purchase the chair as I might want to purchase a recliner instead, if not now, in the future. If I don't have room for the loveseat, I will probably go with the chair option.

This is how it can look all together...