Kitec Lawsuit Ends this Jan + kitec facts for Ontario Home Owners

Helpful Information for Ontario Home Owners with Kitec Plumbing.  Here is a little update that might be of interest.
Feel free to pass this along to anyone you know that has been affected  by Kitec Plumbing in their units.
– The claim filing deadline is January 9, 2020
– Piping with the names Kitec, PlumbBetter, IPEX AQUA, WarmRite, Kitec XPA, AmbioComfort, XPA, KERR Controls, Plomberie Améliorée are included in this settlement
– At this stage, only people who have experienced a failure in a Kitec plumbing system are eligible to receive settlement payments
– If you have not experienced a leak, you should still file a Claim Form
If there are sufficient funds remaining at the end of the claims filing period, you might be eligible for some compensation
– Per the plan of allocation, a payment will occur per each qualified leak experienced. The payment is approximately one half of the estimated costs to repair or replace the affected fitting or pipe
– If you had to replace your plumbing to sell your house, you should file a Claim Form and include documentation showing that you were required to replace your Kitec System and the costs. Depending on fund sufficiency you might be eligible for compensation at the end of the claims period
– The laws regarding the disclosure of information to potential buyers vary depending on the state or province. If you are planning on selling your home and have a Kitec System you should disclose this information.
* For full details of the lawsuit go to http://www.kitecsettlement.com/
* If you are not sure a house has piping related to the Kitec Lawsuit contact ACISS for a pipe inspection. 905-464-6967 or email aciss@sympatico.ca
Sutton Group Realty Systems Inc Brokerage
416-896-3333
http:/www.SuttonRealty.com
http://www.iTorontoCondos.ca

First Time Home Buyer? We Can Help!

Are You A First Time Home Buyer? We Can Help!

Call Sutton Realty Today To See If You Qualify For The First Time Home Buyer Incentive!

Sutton Group Realty Systems Inc., Brokerage
416-896-3333
www.SuttonRealty.com

Looking To Downsize Your Home? We Can Help!

In The Market To Downsize Your Home? This Could Mean For Greater Savings & Financial Opportunites!

Call Sutton Realty Today – We’re Here To Help!

416-896-3333 / 905-896-3333
www.SuttonRealty.com
#Downsizing #SuttonRealty #Vacations #Budgeting #Finances #Savings #RealEstate #HomeSellers #HomeBuyers

Has Your Toronto House Prices Increased In The Last Five Years?

According to an analysis Zoocasa did on detached and semi-detached housing prices in Toronto, the average house prices have doubled in two neighbourhoods, while 16 out of 35 neighbourhoods’ prices have increased by at least 50% or more in over five years.

 

If you already own a home or condominium in Toronto, it continues to be a great investment.

A new survey found that homes in two neighbourhoods and in eight condos have increased by more than 100 per cent in five years.

The survey by real estate website Zoocasa used data from the Toronto Real Estate Board to check how much how much prices have gone up between July 2014 and July 2019. Toronto house prices in 2014 were on average just over $821,198, and now the average price is $1,167,968. That’s an increase of 42 per cent.

As detached and semi-detached homes become out of reach for many home buyers, the condo market continues to be a hot spot for Toronto real estate. Condo prices five years ago were on average were $379,002.

The average across the city this year is $627,927, an increase of 66 per cent.

Penelope Graham, Zoocasa’s Managing Editor, says the fact that many people can’t afford a detached home in Toronto is driving the increase in condo sales.

“Five years ago, if you had a budget of $700,000, you were a house buyer, but now we have more competition in the condo segment,” Graham said.

With real estate, it’s all about location. House prices more than doubled in the neighbourhoods of Forest Hill, Oakwood Village, Regent Park, St. James Town and Corktown. Condo prices increased in eight zones across the city, including West Hill, Centennial Scarborough, Scarborough Village, Guildwood and Malvern Rouge.

The rising prices may be frustrating first time home buyers, but Zoocasa says there are still deals to be found.

“These are averages, so there will always be some higher than the average and lower than the average” said Graham.

Condos in Toronto’s downtown core and those close to public transit were the most sought after with prices between $500,000 and $700,000.

https://toronto.ctvnews.ca/some-toronto-homes-and-condos-double-in-price-in-5-years-1.4561632

 

How Much Has Your Home’s Value Increased In The Last Five Years? Call Your Sutton Neighbourhood Realtor For A Free Home Evaluation At 416-896-3333!

Landlords: Is An Inspection Report Important On Move-In & Out Days?

“One Ontario resident learned the hard way about the importance of inspections. When she initially moved in, neither she nor her landlord formally inspected the property. When she moved out, she found herself legally and financially responsible for removing a wall that the previous tenants had constructed in the unit.”
It is critical that the condition of the rental unit be documented on moving day.
This will help:
  • Note previous damage
  • Establish a baseline to evaluate normal wear and tear
  • Decide who is responsible for paying for any potential damages that might occur in the future.
For tenants, it will also waive any liability for damages that existed prior to moving in.
Tenants and landlords should always conduct the move-in inspection together.
[call-out: Did you know? In some provinces, the security deposit is only repayable if the move-in inspection matches the one completed upon moving out.]
Located in British Columbia or the Yukon?  (not Ontario)
A Condition Inspection Report is required by law. Both the tenant and landlord should complete, sign and date the form at move-in and move-out.
Final inspections
When a tenant moves out, the Move-in Report will come in handy.  Refer to the initial inspection that was completed upon moving in, and compare it with the condition of each room on moving out.
We strongly recommend taking photos prior to move in, ever little bit helps to avoid confusion at move out.
Ask your Sutton Realty for any photos available from the time you listed the property.

The New First Time Home Buyers Government Incentives Program!

Exciting News For First Time Buyers!

New Government Program offering Qualified Buyers up to $48,000 interest-free down payment incentives with no monthly payments! Up to 1.25 billion dollars has been set aside to help lower mortgage costs for eligible Canadian first time home buyers, on a First Come First Service Basis.

Buyers will need to have a minimum down payment to be eligible, which can be from your qualified R.S.P.  Just keep in mind this is a C.M.H.C. insured mortgage program. The total down payment is to be “less” than 20% down.

You can then apply for the 5% Down Payment Incentive, giving you an extra 5% down on resale purchases or 10% on new construction.  Simplified, this is a shared equity mortgage program with the Government of Canada.

Again is all Interest-Free and includes No Monthly Payments.

You can repay the Incentive at any time without a prepayment penalty.  However, the repayment is based on the property’s fair market value.

How the First Time Home Buyers Program Works

The new program scheduled for September 2nd, So call today about this and “other” Government Incentives to ensure you have a well-planned home purchase.

Visit us online at www.SuttonRealty.com for more information.

Call Our Office Today and Speak to a Representative anytime 905-896-3333 or 416-896-3333.

You can even register for one of our upcoming Home Buying Seminars!

Brand New Luxury Condos For Sale In The Heart of The Annex, Toronto!


This Brand New Development Includes 4,000 Square Foot Of Elegant Living Space & Minimalist Beauty!

Each Suite Offers A Private Balcony, And Inside You Will Find A State-Out-The-Art Gym & Rooftop Pool!

Don’t Miss Out On This Opportunity To Experience The Modern Luxury Of The Annex, Toronto!

For Floor Plans & Pricing – Call Sutton Realty Today
416-896-3333 or visit us online:
www.SuttonRealty.com

Sutton Group Realty Featured Open Houses!

Call For Times & Details: 416-896-3333

1. 125 Weston Rd, Toronto
2. 921 Canyon St, Mississauga
3. 1047 Atwater Ave, Mississauga

Does Toronto Have The Lowest Property Tax Rates In Ontario?!

New study shows Toronto has the lowest property tax rate among the 25 major cities in Ontario – Beating Markham, Milton & Richmond Hill at roughly 0.615 per cent.

To put this in perspective, a home priced at $500k in Toronto would require owners to pay $3074 in taxes but a home at the same price in Windsor would require $8,947! Although this may seem too good to be true if you are thinking of purchasing a home in Toronto, you must remember that by keeping taxes down, Toronto faces a number of serious challenges such as housing affordability, public transit, road repairs, etc… All which come with a cost.

A main reason the property tax rates are higher in other cities is because the housing prices are much lower. An average cost of a home in Toronto is around $915,481 while Windsor homes sit at around $337,923.

Another thing to think about are the separate charges the City of Toronto bills homeowners (i.e water consumption, garbage pickup) while some cities in Ontario include all of this on a property tax bill.

Exciting Civic Holiday Weekend Events!

Looking For An Exciting Event For Your Family This Long Weekend? We’ve Compiled A List Just For You!

Plan On Spending Your Weekend Home-Hunting? Our Office Is Open & We Have Agents In House Ready To Help!
Call Sutton Realty Today: 416-896-3333 / 905-896-3333
Or Visit Us Online: www.SuttonRealty.com