For over 35 years R. Bursey Real Estate Ltd, Brokerage has serviced the Greater Toronto Area, and feel as a home owner or future home owner, there are many changes in the Real Estate world that you should be aware of.

Since May 2003, our website ( www.rbursey.com) has been informative with our property listings, mortgage information, closing costs, moving tips, as well as other information that would be helpful when buying or selling your home.

We have had so many inquiries recently regarding the pros and cons of banks versus broker mortgages, City Tax Assessments, state of the present resale market, grow houses, rental market, estate planning, fire insurance, mould, oil tanks, 60 amps wiring, lawyers, and building inspections. Our newsletter will highlight certain areas of interest that pertain to the continually changing market.

TAX ASSESSMENT NOTICES
We have had a number of inquiries about the recently received Property Tax Assessment for home owners in the province of Ontario. “How did they come up with this value?” “How will this affect my property taxes?” “Can I do anything about this if I don’t agree with it?” The property taxes owners will face in 2006 will not be fully known until your Municipality sets their tax rate ( Mill Rate) in the spring of 2006, and that rate normally is adjusted up or down based on the overall assessment base. If you feel your assessment is too high, you have the right to appeal. Property owners have access to this information “free” of charge, by calling MPAC at 1-800-296-6722 or on the internet at http://www.mpac.ca/. Once you have registered, you will have access to assessment roll information and assessment roll values on comparable properties. Home owners and property owners who decide to file the notice of complaint must do so by March 31,2006. The ARB (Assessment Review Board) required filing fee for a residential or farm property is $75.00. Further information can be obtained by contacting MPAC directly.

RENTING VS BUYING
The kids are grown and we are now left with an empty nest, and house maintenance is becoming increasingly burdensome. Do we sell the long-time family home and downsize? Where do we go? This is a legitimate concern for a lot of us. For most of us, our home is our single largest investment. If we sell, do we buy a smaller home/condo or rent? The answer depends on many variables. One major variable is how long do you plan to stay there. If the answer is longer than 10 years, then ownership may be the way to go. Renting for more than 10 years will leave you nothing at the end of this time period. Renting may free up your equity to allow you to do other things, such as traveling or making major purchases that you may not have otherwise been able to afford. The long term affect may leave you financially insecure. Buying a condo might be the answer. It frees up some of your equity as well as having the security of knowing you will always have a roof over your head, as well as pride of ownership. Knowing that some of your investment will be returned in the form of higher resale values is also a plus. The bottom line is that you will have to work out the numbers to determine what is in your best interest. Your accountant, financial adviser, and real estate agent can assist you in your decision.

CUTTING YOUR ENERGY BILLS IN HALF
12 ways to take the heat off your budget

1) Start at the top - Check the insulation in your attic. Most attics need a R-value of 38, which translates into at least 12 inches of insulation or more.

2) Dodge the draft - If replacing with airtight windows is not an option, then apply peal and stick weather stripping or purchase a plastic insulation kit (less than $10).

3) Mind the gap - Fill in cracks with silicone or acrylic caulk around outdoor pipes, dryer vents, fixtures and outlets.

4) Know what’s watt - Replace your light bulbs with new compact fluorescents.

5) Scrap that old toaster - New model home appliances with the “Energy Star” insignia are major energy savers.

6) Snuggle up - Lowering your thermostat a few degrees for part of the day can shave your heating bill.

7) Roll out the duct tape - Tapping leaky joints in ducts in cooler areas like the basement keeps heated air from escaping; your heating system won’t need to work as hard.

8) Earn your degrees - Dropping your water heater setting by just a few degrees to 120 F is both safer and energy efficient.
9) Plug the plugs - Heat can be lost through uninsulated outlets and light switches.
Remove plates, and fit foam gaskets on backs and replace.

10) Catch the flue - A warm cozy fire can be enjoyable, but remember to close the damper once the fire has gone out.

11) Flip the fan - Turning your ceiling fan in the reverse direction recirculates warm air which rises to the ceiling, and puts it back in the room.

12) Do an energy audit - This will gauge the energy efficiency of your home. This can be done by calling your gas/oil company or entering information in The Office of Energy Efficiency program http://oee.nrcan.gc.ca/english/.

FAST FACTS
Gram for gram, strawberries contain more vitamin C than oranges.

A sneeze travels 160 KPH.

The Eiffel Tower always leans away from the sun because heat expands the metal.

Apples are made of 25% air, which is why they float.

Fingernails grow fastest on the right hand of a right-handed person and the left hand on a left-handed person.

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We invite your feedback and suggestions for topics of interest in our future newsletters.

We are always available. If you have any questions, please do not hesitate to call Bob and Ray.

THANK YOU FOR YOUR MANY YEARS OF TRUST AND SUPPORT

Bob Bursey Ray Bursey
905-831-6400 416-298-1848

www.rbursey.com