Had our Annual General meeting today. Helped Chris teach the Social Media Course part 1&2. He did the work and i pitched in – the benefits of being the Past President It was a great success. We also learned a few tips on dealing with Revenue Canada. The day was long but worth it. We had aout 80 REALTORS(r) out.
The latest version of our HomeMarketWatch Insider newsletter
is now available on our website at:
http://www.bramptonhomeinfo.com/gold_newsletter.asp
Each month, we publish a series of articles of interest to
homeowners — money-saving tips, household safety checklists,
home improvement advice, real estate insider secrets, etc.
Whether you are currently in the market for a new home, or not,
we hope that this information is of value to you. Please feel
free to pass these articles on to your family and friends.
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If another person has forwarded this issue to you, and
you would like to subscribe yourself, go to the following link:
http://stayincontact.com/sub.asp?Param=aKvpXSpq5q3BB5q
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This month’s features…
FEATURE REPORT:
- Home Improvement Tips to Increase the Value of Your Home
ALSO THIS MONTH:
- 13 Extra Costs to be Aware of Before Buying a Home
- 10 Questions To Ask When Choosing A Financial Planner
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*** THERE’S MORE ON THE WEB… http://www.bramptonhomeinfo.com ***
Hire My Entire Team For LESS Than the Price of One Agent:
http://www.bramptonhomeinfo.com/team.asp
FREE Quick Over-the-Net Evaluation:
http://www.bramptonhomeinfo.com/homeeval.asp
Find Out What the Home Down the Street Sold For:
http://www.bramptonhomeinfo.com/gold_findout.asp
How To Beat Out Other Buyers to Hot New Listings:
http://www.bramptonhomeinfo.com/vip_buyer.asp
Ask One of Our Experts Your Real Estate Question:
http://www.bramptonhomeinfo.com/gold_askexpert.asp
Find Out How Much You Can Afford In Your Next Home:
http://www.bramptonhomeinfo.com/silver_mortgagecalc.asp
Congratulations to BREB Members, Ruth Ballantyne & Rui Alves, recipients of the 2011 REALTORS Care Foundation Fellowship Awards!
.by Brampton R. E. Board on Thursday, March 3, 2011 at 9:18am.Congratulations to BREB Members, Ruth Ballantyne (2011 Past President) of Re/Max Realty Services Inc. and Rui Alves of IP HOLDING REALTY LTD. who were recipients of the 2011 REALTORS Care Foundation Fellowship Awards. Awards were presented at the OREA Conference yesterday. Members of the fellow program align themselves with the Quality of Life Principles that the OREA Board of Directors have identified and defined as key life principles related to the real estate profession. Foundation fellows are committed to improving the quality of life in Ontario communities by supporting growth that encourages economic vitality, working to provide the opportunity to have a home and building communities. For more information about the REALTORS Care Foundation and becoming a foundation fellow, please visit www.realtorscareontario.ca (Taken from BREB Facebook Page)
Congratulations Rui and Ruth
Check this out on your smartphone! Use the smartphone to capture the bar code.
$279,800
Tucked Away On A Quiet Key Hole Court, This 3 Bdrm Family Home Offers Large Principal Room Sizes In An Open Concept Floor Plan. Covered Front Porch Leads To The Spacious Entry Past The Convenient Powder Room Into The Living Rm/Dining Rm With Laminate Floors, And A Sliding Door Walkout To A Fully Fenced Private Yard. Large Kitchen Has A Good Amount Of Cupboard & Counter Space & Overlooks the Living Room.he Upper Level Has 3 Good Size Bdrms Including A Huge Master With Walk-In Closet And Semi-Ensuite. The Basement Awaits Your Finishing Touches.
The government has set March 18 as the last day for 35 year amortizations. This means Lenders will likely stop accepting applications for 35 year amortizations in advance of the March 18 cut off. Approved deals that close after March 18 can still have 35 year amortizations as long as the deal is approved by CMHC/Genworth prior to the date (assuming the lender accepts the deal). Call us if you want to find out how you can benefit from this change. Time is running out.
I will also be hosting a FREE Buyer’s Seminar on Saturday, Feb 19th from 2-3pm at the Royal Bank, 901 Jane Street , Toronto , M6N 4C6 . You will get an update on Financing, Free Government Programs for First Time Buyers that may help increase your down payment by 30% in 90 days, Other Government Incentives, Investing, Distress Sales and an Overview of the National and Local Real Estate Market. Please email me at Ruth@RuthBallantyne.com to register.
Here is some excellent information about the changes for you to review.
I am happy to offer you a pair of VIP RE/MAX National Home Show tickets for the upcoming home show taking place February 18th – 27th. It is at the Direct Energy Centre, Exhibition Place. If you would like a pair, please reply to this blog or email me. I will be at the RE/MAX booth on Saturday, February 19th from 10am-1pm, so please come by for a visit! I will have ballots for you to fill out for a chance for you to win an iPad!
The National Home Show is a must for anyone looking to restore, refresh, and renew their home and garden. This year’s show will have an amazing selection of renovation products and services. Over 700 retailers and industry experts will be on hand providing renovation tips, interior design ideas, gardening advice, and fantastic bargains! At the Main Stage, presented by HGTV, you can take home secrets from top celebrity home improvement experts. The lineup this year includes presentations by HGTV’s design gurus, Colin and Justin. Natural born teacher and host of HGTV’s Disaster DIY, Bryan Beaumler, will also make an appearance to pass on his home building wisdom. Other celebrity guests include decorator Karl Lohnes, Chef Romale Griarte, and many more.
I will also be hosting a FREE Buyer’s Seminar on Saturday, Feb 19th from 2-3pm at the Royal Bank, 901 Jane Street, Toronto. You will get an update on Financing, Free Government Programs for First Time Buyers that may help increase your downpayment by 30% in 90 days , Other Government Incentives, Investing, Distress Sales and an Overview of the National and Local Real Estate Market.
Keep in mind the government has set March 18 as the last day for 35 year amortizations. This means Lenders will likely stop accepting applications for 35 year amortizations in advance of the March 18 cut off. Approved deals that close after March 18 can still have 35 year amortizations as long as the deal is approved by CMHC/Genworth prior to the date (assuming the lender accepts the deal). Call us if you want to find out how you can benefit from this change. Time is Running out.
If you go to www.FitToBuy.ca and enter your VIP Prize Code on the back of the ticket, you will be entered to win the RE/MAX Ultimate KitchenAid® Home Appliance Contest. Good luck!
Please let me know how you enjoyed the Home Show by emailing me at ruth@ruthballantyne.com
$279,800
Totally Renovated Throughout. Kitchen Has New Cupboards With Glass Inserts, Ceramic Tile & Glass Backsplash, Sun-Drenched Eating Area. Limestone Floor In Lr/Dr, Sunroom & 3rd Bedroom. Gorgeous Updated Stained Glass Doors Throughout. Upgraded Bathrooms. Appliances Included. Just Move In! Shows To Perfection! 3 Parking Spaces & 2 Lockers. Building Has An Indoor Pool, Hot Tub, Sauna, Gym, Tennis Courts, Raquetball, Party Room & Library.
Go to www.HanoverCondos.com for a virtual tour!
TORONTO, January 19, 2011 –
Greater Toronto REALTORS® reported 1,563
sales during the first two weeks of January 2011 – an 11 per cent decrease
compared to the first two weeks of January 2010.
“While off the record pace experienced last January, sales remain high from a
historic perspective and market conditions remain tight enough to support a
sustainable rate of price growth,” said Toronto Real Estate Board (TREB) President
Bill Johnston.
The average price for transactions during the first 14 days of January was
$413,565, representing a five per cent increase compared to the first two weeks of
January 2010.
“Average price growth continues to be supported by a positive affordability
picture. A household earning the average income can afford mortgage payments
associated with the purchase of an average priced home,” said Jason Mercer,
TREB’s Senior Manager of Market Analysis.
Here is an article that outlines the new rules and how they will affect you if you have a mortgage of $300,000. If you can buy before March 18th you will save about $105 per month on a 300k mortgage. Call me if you want to move before the changes.
Financial Planning
New mortgage rules aimed at curbing soaring household debt
Amortization periods will be reduced to 30 years from 35
Monday, January 17, 2011
By Julian Beltrame
Advertisement
Source: The Canadian Press
The federal government is making home ownership more difficult for Canadians on the margins of affordability, and moved to cut off some types of borrowing.
The new measures were necessary, Finance Minister Jim Flaherty said Monday, because a minority of Canadians are “borrowing to the max.”
It is the third time in three years that the finance minister has acted to restrain credit at a time of historically low interest rates.
The new rules reduce the amortization period to 30 years from 35, reducing the amount Canadians can borrow on their first home.
The measure, which comes into effect on March 18, will increase the monthly payment on a $300,000 mortgage at four per cent by $105, according to the government.
As well, Ottawa has lowered the limit on how much money Canadians can borrow using their homes as equity to 85% of the value from 90%.
And the government will no longer insure lines of credit secured on homes as if they were mortgages.
The minister made clear there is not a debt crisis in Canada at the moment, even though household debt has reached a record 148 per cent of disposable income, a higher rate than currently exists in the United States.
But he said he was concerned that some Canadians were getting stretched and would feel the pinch when interest rates rise.
“We are responding to a situation that could develop,” he told a news conference, “and we want to avoid that.
“It’s obvious we could have gone farther. We have not touched down-payment requirements, for example. This is intentional. We are trying to strike the right balance so that we do not create any sort of shock in the market, or any sort of dramatic pressure in the market.”
Ironically, the measures open room for Bank of Canada governor Mark Carney to keep interest rates low for a longer period, given that the threat of runaway borrowing has been lessened.
The central bank next pronounces on interest rates Tuesday, but most analysts expect Carney to keep the policy rate at one per cent until at least late spring.
CIBC’s chief economist, Avery Shenfeld, said the impact overall on mortgage lending will be “marginal.”
“It’s the difference between somebody borrowing $200,000 and $180,000 or 190,000,” he said.
“More dramatic would have been to raise the down payment, which would have a larger impact on people’s ability to finance their first home.”
The Bank of Montreal’s Douglas Porter said the measures are the equivalent of raising interest rates by about half a percentage point, but more targeted.
“This is way a way of not affecting a lot of innocent bystanders, including the manufacturing and the tourism sector, by putting more upward pressure on the Canadian dollar,” he explained.
Flaherty said he moved on home-equity loans and lines of credit because some were not using the money to build equity on their residences, but on consumer spending.
“They are used to buy boats and cars and big-screen TVs, and that’s not the business mortgage insurance was designed for,” he said.
“Our measures will help improve the financial situation of households in Canada,” he added.
The tighter rules had been well flagged by both the federal government and the Bank of Canada, which have for months beat the drums on the risks of growing consumer debt.
In a speech earlier in the month, the bank’s deputy governor, Agathe Cote, noted home-equity loans as a share of overall household credit had risen by 170 per cent in the last decade.
The central bank has expressed concern that as Canadians pile on debt, not only do they expose themselves to coming higher interest rates or economic shocks, but they will no longer have sufficient disposable income to spend on other items, thereby potentially damaging the economy.
“If there were a sudden weakening in the Canadian housing sector, it could have sizable spillover effects on other areas of the economy, such as consumption,” Cote said.
