Messages

1

Introduce Yourself / Re: Just arrived

« on: March 10, 2009, 05:47:05 AM »

Call the township.  The minimum bid is the minimum, the highest bidder wins the tax sale, bid above minimum and you have a better chance of winning.  Its similar to a silent auction, we do not know what others are bidding.  Its a 'sealed bid' which when you contact the township, you will be instructed on how to obtain a 'tender package'.
An excellent website with tons of info.  is ontariotaxsales.ca

2

Questions and Answers / Re: Florida properties

« on: February 21, 2009, 09:13:12 PM »

Like I said.  There are many mobile homes in Florida and people can't make their payments.  When the economy was good, a lot of people and developers started building vacation homes in Florida, now they can't afford the payments.  I've seen a few foreclosures that needed TLC.  If they can't make their mortgage payments, they certainly can't afford maintenance.  I've seen foreclosures homes that aren't completely built, no kitchen or bathroom cabinets etc...  someone started building and couldn't finish.

3

Questions and Answers / Re: Florida properties

« on: February 20, 2009, 05:20:48 PM »

You know what they say 'if the U.S has a cold, Canada eventually catches it', we are not immune to the deepening recession in the U.S.  There are still people that have job security, mostly those that work in the public service.  Perhaps Obama will make a difference in his 4 year term and see the U.S out of a recession and into recovery, Canada will follow.

4

Announcements / Re: Results

« on: February 13, 2009, 10:48:57 PM »

The taxes were $32 per year.  I can't believe someone couldn't afford to pay $32 per year.  Perhaps someone trying to get a building permit and had too much trouble?  Certainly a structure on the property would greatly increase the value and assessment, considering its a ravine lot, the zoning is recreational residential though not on a lake.  Either someone didn't do their homework or did and knows something that we don't know.

5

Announcements / Re: Results: Bluewater

« on: February 13, 2009, 07:50:08 PM »

Bluewater, min.tender: $5,166.99
Assessment value:   RT $2,400.00
Highest Tender:         $16,270.00

Vacant lot on ravine, possible to get building permit.  Why pay so much considering assessment and economy? 

6

Property Information / Re: Rutter Lake

« on: February 11, 2009, 10:36:00 PM »

There is no public road access.  I haven't called the municipality to check if there is a private road to the property.  Its vacant but zoned residential.  Wondering why there is no building permit available, its on a lake.

7

Questions and Answers / Re: Florida properties

« on: February 10, 2009, 01:56:39 AM »

I'm not old enough, but there's quite a few 'gated communities' down there.  They range for 80K to 1 million, depending on the type of amenities and type of home (mobile, manufactured or solid).  Many of the keys are built up, there are very few homes on Big Pine Key or marinas, as these areas develop, the prices of other homes will go down.  Since the real estate bust in the states, the keys are probably the only place that haven't gown down, homes have maintained their values, keep in mind the retired people have a fixed income, they do not have jobs to lose, many of the them are living of past investments, 401K plans and good pensions.  The other places in Florida have gone down quite a bit and of course, our dollar isn't as high now as it was a couple of years ago but a lot higher than it was in the 90's.

PFM:  Aren't you also part of a mutual fund, stock market investment forum that also deals in real estate?  Whats their website?

8

Questions and Answers / Re: Florida properties

« on: February 08, 2009, 03:24:31 AM »

What is a 'short sale'?

I have been looking at Florida properties since Steves announcement of his southern acquisition. A short sale means the seller's lender is accepting less than the mortgage balance to release an existing mortgage. This doesn't  mean the lender will accept your offer, even if the seller accepts it.  Lender acceptance may depend on the percentage of your down payment, closing date, etc. Proof of funds may be required.
As a general rule, the seller will  be in default on their mortgage and must have stopped making mortgage payments, before a lender will consider a short sale. Next is the foreclosure process.
There are great deals down there.  I was looking for a house on the water ie gulf access canal but I am now looking for a house as close to the beach as possible, on a key. 

Key Largo is close to the mainland.  The middle keys such as Big Pine, Marathon etc... are nice places to vacation and even people from the mainland have fishing boats and vacation homes there since there is no nice places to go fishing or any nice marinas that are not part of a hotel on the mainland.  Key West is very touristy and if you're homophobic, then not the place for you.  Also lots of young people that do not know what year it is, the hippies of the new milenium.  When I was there, I parked where there was a meter and had difficulty putting the money in, I was about to move my rental car to another spot, when a van appeared, I asked for help.  A couple of older teen or 20ish guys jumped out and smashed the meter with a baseball bat and said, 'now you don't pay the establishment'.

9

Questions and Answers / Re: Florida properties

« on: February 07, 2009, 06:35:44 PM »

I vacationed quite a few times in the Florida keys during the 90's.  The keys are very expensive and sort of the 'cottage country' of mainland Floridians.  Food and water is brought in from the mainland, making those necessities expensive.  Except for hotels, fishing, restaurants, dive shops and of course 'Sloppy Joes' where Ernest Hemingway apparently liked to 'hang out', there isn't much there.  I've always wanted to retire there, but haven't managed my wealth properly and won't be retiring for at least another 20 years.

I do not know other areas in Florida and know the larger cities are crime infested.  The area of Englewood and Port Charlotte seems to be a newer area.  Similar to Toronto, Florida seems to have 'prime real estate' areas and areas that do not appreciate much, even in a very good economy.  Florida also has several trailer parks, manufactured homes and 'mobile homes most of which are being foreclosed.  The one I was looking at is neither foreclosure or short sale and is selling for 89K.  I compared it to homes in an area that I know to be more affluent (Naples and West Palm beach) and similar homes were selling for more than 200K or 300K.  I do not have anyone to contact in Florida and don't know if I should trust a realestate agent since, unlike Toronto, Florida has a lot of racial issues and crime areas.  In some areas, real estate does not appreciate due to these factors.

What type of area is Port Charlotte?  Is it a 'newer' area on its way to becoming established?

10

Meetings / Gatherings / Re: Should we have a New member forum

« on: February 06, 2009, 10:20:04 PM »

How old is old? Whats the Ratskellar?

I'm a middle aged 'gold digger' and have a few 'bucks' from previous suitors and live well below my means.  Fear of getting old keeps me from overspending since I may not have as many choices in the future. I try not to live off the money from previous relationships and instead try and invest it wisely.  I also work, mostly locums and have considered my own business, possibly a franchise.
I'm on this forum hoping a few of you will let on how much money you have, that is how I stalk my prey.  Ages and marital status please.

11

Questions and Answers / Re: Florida properties

« on: February 06, 2009, 05:04:11 PM »

Steve:

Is Port Charlotte a nice area?  How safe are these homes from hurricanes?  There is one in Port Charlotte, stucco, inground pool, on canal, gulf access, under 100K and too good to be true, unless its a crime infested area.

What is a 'short sale'?

12

Property Information / Re: Trent Hills

« on: January 22, 2009, 08:58:44 PM »

Pardon me Cobo, if the typo's are intentional, I don't quite get the point.  Anyway, it does cost money to do the searches (as I've learned) and only worth it if you eventually get a property at below value and either can afford to hang on to it for a while or lucky enough to be able to flip it for a good price.  There have been some good deals in the past year.  The guy that got the Collingwood house (which needed a lot of work) paid 1/2 the assessment value, I'm sure the money he spent on the title search for that property and probably many other properties were worth it since he (or she) will be able to 'fix it up' and sell it for at least the assessment value (if not more).
I do the searches myself, unless I'm not in the area, then I pay for a search.  It saves money to do the searches yourself through the land registry office or at least obtain a summary, but if you're really interested, its worth it to pay ontariotaxsales.ca or have it done and pay. If I'm bidding, regardless of if I did the search myself, I pay for a search to be done.  Like any hobby, it costs money, except this one has the potential of making money.

13

Property Information / Re: Trent Hills

« on: January 20, 2009, 11:40:38 PM »

Cobo, just a guess, you can't type.
Go to the land registry office of that particular township, should only cost a few bucks.

14

General / Re: Teaming Up

« on: January 10, 2009, 08:20:21 AM »

A house for 45K 3 years ago?  Where? Or did you mean 450K?

15

General / Re: Teaming Up

« on: January 03, 2009, 07:57:00 PM »

I sold quite a few of my funds and put the money in bond funds when the market started to go down.  The only money that I lost was money that I kept in aggressive equity funds and resource funds, which I won't switch now since its too late to put it all in bond funds, and will ride it out, knowing there will be an upturn in the stock/fund market in 2009.  Now, I'll switch out of the bond funds and back into aggressive equities and resource funds.  Quite a few of my funds are registered, I also saved on taxes.
Real estate will continue to decline during 2009 and 'flatline'.  The difference between the markets is that with funds and stocks, you require to watch it daily and be prepared to sell (or switch) quickly.  With realestate, you can sleep at night, things don't happen so fast and it will never be worth nothing.  As stated, you can always rent out property if you can't flip.
Question:

Does a home based business qualify writing part of the mortgage and taxes off on your taxes?