Friday, April 15, 2011

BMO: Canada real estate market heading for bubble—but not Toronto

Article from Toronto Life magazine by John Michael McGrath dated March 4, 2011


A new report out from BMO Capital Markets suggests that Canada is in increasing danger of a housing price collapse—especially if prices keep going up. The good news for Toronto is that while other provinces are steadily inching closer to the danger zone, Ontario doesn’t seem to be.

The problem is that the value of homes have increased much faster than incomes. The bank says average home resale prices compared with personal incomes are 14 per cent above the long-run trend, up from last summer, although still below the 21 per cent peak that preceded the 1989 crash.
But that is not the case in all markets. Five provinces are currently in the danger zone, led by Saskatchewan, where the ratio is 39 per cent above historic norms.
Also well above the long-run levels is Newfoundland, 34 per cent higher; British Columbia and Manitoba, 31 per cent, and Quebec, 23 per cent above.
By comparison, in Ontario, the price-to-income ratio is only 10 per cent higher than historic norms, suggesting prices are moderately overvalued but not in bubble territory.

Hurray for Toronto—overvalued against historic prices, but not quite as bad as other places. It’s like we’ve been saying: when the collapse of the housing market comes, Toronto may get hit, but we won’t need to stockpile ammo, canned goods and drinking water.
Of course, this also means Toronto shoppers might be able to pick up real estate in other provinces for a song after the crash. Anyone interested in a waterfront property in Regina Beach?

Monday, April 11, 2011

Choosing a Real Estate Agent

You see so many different For Sale, Sold and For Lease signs with so many different Realtor names. You browse the listings on MLS and see so many more. With so many agents out there, how do you choose? Do you go by their picture? Do you look at how many listings they have? What's a home buyer to do?
Here are a few recommendations when beginning your search:

1) Get referrals from family, friends and co-workers.  

2) Meet with a few agents to conduct mini interviews.

3) Check the online search of The Real Estate Council of Ontario to see if the agent is registered. RECO regulates the activity of trading in real estate in the public interest and has been put in place to protect your best interests.

4) If you are a seller, find out how much their commission is.

5) Normally, it is helpful if the agent is familiar with the area you are looking in. 

6) Choose someone who displays professionalism and a willingness to work for your needs.

7) Should you want, your agent should be able to assist you with other necessary real estate related services, for example, arranging a house inspection, arranging a mortgage and finding a real estate lawyer.

8) If you are selling your home, does the agent have a plan of attack for marketing your house. MLS, ads, open houses?
9) Not all agents work the same schedule. If you are only available to view properties on Sundays, make sure your agent works weekends. Communicate your availability during your interview with them.

10) This isn't a deal breaker, but if your sales representative has a website, that is a very good way of gathering even more information about them and seeing what affiliations they have.

Sunday, April 10, 2011

Did you know our children are struggling in school?

Latino students are struggling in our schools, but nothing is being done! As parents, we must support our children as they make their way through school and do everything we can to empower them during this time in order to succeed. 
Below is an article from Fox News Latino describing a study done of 60 Latino students in various Toronto high schools and the struggles they face.
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Pedro, a 10th grader whose family emigrated from Colombia a few years ago, was labeled a slow learner because he didn’t speak English. Rita, a high school student, said that when she arrived from Mexico, she was shunned and berated by her peers for not knowing English.
Both are students in the Toronto school district, which, with over 250,000 students and 600 schools, is both the largest in Canada and the one with the most Latin American students. And both were part of a study released last month which examined Toronto’s high Latino drop-out rate: About 40 percent of these students—nearly double the number of the overall population—fail to finish high school.
Compared to generations of Latin American migration to the U.S., large numbers of Hispanics started settling in Canada relatively recently. The first wave came in the 1970s, as political asylum seekers fled South American dictatorships. The largest wave, however, came after 2000, when the immigration debate in the U.S. became most heated.
About 350,000 Latin Americans are now in Canada, where the overall population is about 32 million. The largest concentration – a little more than a third – have settled in Toronto. But some say that the Canadian school system was not prepared for a sudden influx of Spanish speakers – which now total about 5,200 – and the young Latinos who migrated there have paid the consequences.
Rubén A. Gaztambide-Fernández, an education professor who headed up the University of Toronto’s years-long study, said many students told researchers scarce resources for Spanish speakers and economic stress impacted their performance.
They also said teachers and their peers had such negative stereotypes about them, that it bred low expectations.
“In the U.S., depending on where you live, all the stereotypes about Latinos tend to be bad, but at least there are a lot of stereotypes,” said Gaztambide-Fernández, whose final report, released this month, was 103 pages long. “What we found in Canada was that everyone assumes that because you are Latin American, you are Mexican. And because you are Mexican, you are poor, lazy and you belong to a gang. That was it.”
Gaztambide-Fernández believes the narrow view may be due to Latinos’ relatively recent arrival. “The only images many Canadians consume of Latin Americans are those that come from Hollywood movies,” he said.
A Puerto Rican Harvard University graduate, Gaztambide-Fernández moved to Toronto from Boston in 2006, around the time the Toronto school district began collecting demographic information about its students.
It was the first time the city was able to look into student success based on race and ethnicity, which turned out to be a long and arduous task. But when the results came in, the school district realized Latin Americans were dropping out at double of rate of the rest of the student population. No one knew why, so a group of Hispanic Torontonians decided to find out.
Sixty students from six Toronto high schools filled out surveys and were interviewed in focus groups or alone. Over and over again, Gaztambide-Fernández said, the students complained about not having enough Spanish-speaking support or ESL classes. Many reported they had to work to help their families, and said juggling those hours with school was affecting their class work. They also said the negative stereotypes sapped them of academic motivation.
“It is like a little burlap sack, you throw in discrimination, you throw in work, you throw in that you have no money, you throw in that, well, you don’t like school, you throw in this and you throw in that, and the burlap sack gets heavy,” said Mercedes, a 12th grader who was interviewed for the study, which published only first names. “It is not just one factor that leads you leave school.”
The 250,000-student Toronto school district, the largest in Canada, acknowledges that Latino students have struggled there. Members of the school board say they have tried to address the group’s problems in the past but nothing has worked. But now, following the University of Toronto study, the school board plans to launch a more far-reaching program.
The school board will adopt a series of recommendations in the study and has already reached out to the community, universities – and even school officials in New York – to address the issue.
“It is very clear to us that in order to help specific students improve their achievement we have to have innovative approaches,” said Jim Spyropoulos, Coordinating Superintendent for Inclusive Schools at the Toronto District School Board. “If we keep doing the same things, we are going to keep getting the same results.”
As part of its efforts, the district will kick off a pilot program in February that will offer cultural sensitivity classes to teachers so they could understand the Latin American culture, offer support programs for newcomers, and give low-income students part-time jobs at the school. Latin American history courses will also be part of the curriculum.
If the pilot program is successful, it will expand to all schools.
“What our kids keep telling us is, 'they don’t get us',” said Spyropoulos of the school board. “This is our best attempt to try and support them.”

To reach the writer, email carolyn.salazar@foxnewslatino.com

Wednesday, April 6, 2011

Entrevista del 23 de febrero en AM1610 Voces Latinas

Aquí se encuentra la entrevista del 23 de febrero de Antonio Guerrero con Silvia Mendez en radio AM1610 Voces Latinas.

Haz click en el logo para escuchar la entrevista grabada.





Tuesday, March 29, 2011

Antonio Guerrero será en la radio hoy

Escuchen al programa en Voces Latinas 1610AM a las 7:15pm donde Antonio hablará otra vez de temas relacionados con la Ley Familiar.


Haga click sobre el logo de Voces Latinas para escuchar.
       en     







Saturday, March 26, 2011

Mastercard commercial

This is somewhat out of character, however this video caught our interest, because of the Spanish of course!


We sat mesmerized, not knowing what the commercial was for. We threw out a string of guesses, and were then surprised to see that it was for Mastercard!


For those who haven't seen this, check it out.





Friday, March 25, 2011

Will you be participating in Earth Hour 2011?



Earth Hour started in 2007 in Sydney, Australia when 2.2 million individuals and more than 2,000 businesses turned their lights off for one hour to take a stand against climate change. 

Last year on March 27, 2010, a record 128 countries and territories  united across the globe making it the largest voluntary action ever witnessed.

Earth Hour is a worldwide event started by the World Wildlife Fund that rallies millions of people to show support for action on climate change. This year, after the lights come back on, residents are being challenged to think about what else they can do to make a difference and be part of a solution.
Last year, Hydro One Brampton reported a five per cent drop in power usage in Brampton, which is equal to 21.7 megawatts, or enough electricity to power 18,000 homes.

Climate change is the biggest environmental threat to life on Earth wreaking havoc with the natural systems that
regulate the earth’s climate: 
• Melting glaciers and ice caps on every continent, creating heat waves, and dehydrating forests and
wetlands
• Affecting the lives and communities of everyone on the planet

On average, every person in the world is making a footprint 50% more than what the planet actually produces per person, per year. In other words, it takes 1.5 Earths of productivity to support humanity each year, but we have
only 1 Earth!

Half our footprint is carbon from fossil fuel emissions. Canada is one of the top 10 nations contributing to global climate change. While other leading countries of the world are pioneering green energy technologies and solutions, we are holding on to an old strategy based on developing increasingly carbon-intensive forms of energy in the Arctic and the tar sands. We must value carbon more, consume less, insulate better, and hasten the switch to alternative fuels like wind, solar, tidal and hydropower. WWF-Canada is calling on business and political leaders to drive this fundamental shift. Our success will ensure that Canada is on the right path for future generations, our economy and the planet.

Guerrero Law’s employees will be participating by switching off their lights for Earth Hour at home. Antonio Guerrero has prepared his guitar to play music by candlelight for his family during that hour.

What will you be doing during Earth Hour?

If you need ideas, visit the Earth Hour website to find out how you can participate.

Thursday, March 24, 2011

Guerrero Law in Mexico City / Guerrero Law en la Ciudad de México D.F.

Guerrero Law is very excited to announce the expansion of its office to Mexico City.


We are pleased to welcome Gabriela Guerrero to our team, and look forward to working with her.

Our office in Mexico City can be found at the following address:

División del Norte 1167
2o. Piso, Colonia del Valle

C.P. 03100, México D.F.


To reach us by phone from within Mexico, contact: 5350-6592
From outside Mexico, we can be reached at: +1 (416) 840-5807





Guerrero Law tiene el placer de anunciar la expansión de su oficina a la Ciudad de México D.F. 


Damos la bienvenida a Gabriela Guerrero a nuestro equipo quien será nuestra representante en México.


Nuestra oficina en México, D.F. se encuentra a la siguiente dirección:





División del Norte 1167
2o. Piso, Colonia del Valle

C.P. 03100, México D.F.


Para contactarnos por teléfono desde México: 5350-6592
De fuera de México, nos pueden contactar al: +1 (416) 840-5807

Tuesday, March 22, 2011

Taping for Now What? Rogers TV / Grabando para Now What? Rogers TV

Today, Antonio Guerrero had the pleasure of being interviewed by Martha Pinzón from the Rogers TV show Now What?.
He was invited to the show to briefly speak about divorce and alternatives to court proceedings.
The show will air in two weeks at which point we will upload the clip.





Hoy, Antonio Guerrero tuvo el privilegio de ser entrevistado por Martha Pinzón de Rogers TV del programa Now What?.
Fue invitado al programa para hablar en breve de los temas de divorcio y alternativas al proceso judicial.
El programa estará en el aire en dos semanas en cual momento cárgaremos la entrevista.


Grabando para el programa Now What?

Martha Pinzón y Antonio Guerrero

Friday, March 18, 2011

New Mortgage Rules Effective Today

Don't forget homebuyers, Canada's new mortgage rules go into effect as of today, March 18, 2011.


In case you've missed all the discussions, the three new rules are as follows:


1) The maximum amortization period has been reduced to 30 years from 35 years for government-backed insured mortgages with loan-to-value ratios of more than 80 per cent.


2) Ottawa will lower the maximum amount Canadians can borrow in refinancing their mortgages to 85 per cent from 90 per cent of the value of their homes.


3) Ottawa will withdraw government insurance backing on lines of credit secured by homes.


Finance Minister Jim Flaherty announces Canada's new mortgage rules in January 2011.

Wednesday, February 23, 2011

What happens to your retirement savings in a divorce?



As written by MARY GOODERHAM and published in the Globe and Mail 


Who gets what? When a marriage breaks, a couple’s major assets are divided as well. But when they are socked away in registered plans, splitting those assets evenly and smartly becomes about avoiding tax hits.


Registered retirement savings plans (RRSPs) and registered retirement income funds (RRIFs) as well as pensions are considered family property to be divided 50-50 in a legal separation or divorce. The Income Tax Act provides for tax-free rollovers of RRSPs and RRIFs between spouses where there is a court order or written separation agreement, which allows for the equalization of registered assets without significant tax implications.
But then things get tricky. Dividing the funds in registered plans along with other family assets can involve complex deliberations and leave one or both members of the couple scrambling to make up for retirement.
“For most people the math doesn’t work very easily,” says Eva Sachs, a certified financial planner in Toronto who is also a certified divorce financial analyst specializing in issues such as financial settlement options for divorcing couples.
More than half of the clients Ms. Sachs sees in her fee-for-service consultancy, called Women in Divorce Financial, are ending marriages of between 20 and 30 years. Already in their late 40s or early 50s, these couples must quickly gear up for retirement, while variously paying hefty costs related to the separation, learning anew to manage finances and supporting two households.
“Getting divorced really messes up the retirement plans they had been working on as a couple,” she says. “It’s a huge thing.”
Take Peter and Joan Wright, for example. The Wrights (not their real name) jointly own a house worth $500,000 and RRSP assets worth $400,000. Mrs. Wright wants to keep the house, which means she must give cash – or the equivalent in RRSPs – to her ex. (She could perhaps take out a significant line of credit or extend the mortgage on the house to pay him some of the funds.) Mr. Wright may end up with the lion’s share of the RRSPs, but he then needs to pay for housing and other costs.
One significant issue on the divorce ledger sheet is that the value of RRSPs is calculated by taking into account the deferred tax that must be paid. A notional tax rate is usually applied, based on the expected income and thus the taxation level upon retirement of the person who gets them.
“Sometimes the negotiations get a little complicated,” says Douglas Lamb, a certified financial planner at Spera Financial in Toronto.
The best way to get back on track with RRSPs, he says, is to establish a comprehensive financial plan “that reflects an individual’s new economic realities” and develop an investment plan that supports it. That means figuring out any new expenses and sources of income as well as projecting what you will need for retirement.
A spouse who is newly receiving regular alimony or child support payments, for example, must realize that this is income that is taxable, but also handily creates RRSP room, Ms. Sachs says. Making sure to set aside the funds to pay the tax or to invest in the RRSP, while covering all other expenses incurred in their new household, is critical.
Many people end up with huge costs related to the divorce itself, she explains, such as legal bills, counselling for the kids and credit card debt from emotional spending. Many people finance these expenses by cashing in RRSPs. Worse, she says, many people take a hiatus from making RRSP payments, thinking they will get back to it, but “it’s hard to start up again.”
Getting good advice, establishing a firm financial plan and making informed decisions on your retirement, she says, must start with figuring out what your new life is costing and buckling down on expenses.
“Something has to give,” Ms. Sachs says. “You need to adjust your spending to meet the new reality.”
Mr. Lamb adds that often in the case of divorce, one partner is less aware of issues such as RRSPs, especially if the other partner had the “financial administration responsibilities, wrote the cheques and did the investing.”
Those in the first category “have all of the emotional turmoil of the separation and they’re just bewildered,” he adds. In such cases, doing a long-term plan and considering where funds will come from in retirement, be it from RRSPs, tax-free savings accounts or even a real estate investment, he says, will “tell you what you’re going to do for the rest of your life.”
Spousal RRSPs

Investing in a spousal RRSP is a smart move for couples who want to split their income – and pay less combined tax – in retirement. If you break up before you get to that stage, however, the assets belong to the person whose name is on the plan, although the funds will be equally divided.
Spousal RRSPs are especially useful when couples anticipate that they’ll generate unequal amounts of taxable income when they retire, for example from pensions, retirement savings or investments. They can also be used to build up both spouses’ RRSP accounts in equal proportion, where one person doesn’t work or earns less and therefore has less RRSP contribution room than the other.
In a spousal RRSP, one spouse uses his or her own contribution room to pay into an RRSP account in the partner’s name. The person who makes the investment benefits from the tax deduction, while the partner in whose name the RRSP is registered owns the account.
Upon divorce, spousal RRSPs are actually treated the same as the rest of the family’s assets. A couple’s RRSPs and RRIFs are evenly split and can be transferred tax free, so in most instances contributing to a spousal RRSP is no different from contributing to an RRSP in your own name.

Entrevista de Guerrero Law en AM1610

Guerrero Law está encantado de anunciar que, Antonio Guerrero aparecerá en la radio en AM1610 Voces Latinas a las 4:30pm, miércoles el 23 de febrero, para hablar de varias temas relacionadas con la Ley Familiar.





Guerrero Law interview on AM1610

Guerrero Law is pleased to announce that, Antonio Guerrero will be featured on AM1610 Voces Latinas at 4:30pm on Wednesday, February 23, to discuss various topics related to Family Law.


Click here to listen live.