New mortgage rules in plain English

A quick explanation of the mortgage rule changes in July 2012 as there seems to be a lot of confusion still.

 

 

How I spent this rainy October Sunday off.

Even on my days off I seem to be busy.

Check it out, Click here!

My Week so far October 27/2012

This is who I am, no bull.

Click here for the short video!

273 Sumcot Dr! Check it out.

273 Sumcot Dr

RESIDENTIAL - One yr old, spectacular open concept, custom built bungalow in Buckhorn Lake Estates. Water access through Association to Buckhorn Lake. This home has over 2000 sq.ft. finished floor space that is modern & bright & you still have 2000 sq ft to customize your living in the lower level. The home was architecturally designed by Maryanne Noffke Design & Drafting to optimize richness & flow for family living. Gas fireplace in the living room that is viewable throughout the home`s main floor. Formal dining room, spacious eat-in kitchen overlooks the private backyard & is finished with granite countertops, breakfast bar & built-in applianaces. Lrg master bedrm with lrg walkin closet & 5 pc ensuite. Central air, air exchanger, dbl car garage, complete with professionally installed generator system. Taxes include community water charge. Lovingly built by family tradesmen. No corners cut, just upgrades

http://www.youtube.com/watch?v=crbBzWaC9Ak

Check out the video!

The 10 Best home improvements for resale

Hello all!

A few weeks ago I wrote about the 10 worst improvements. Now here are the 10 best improvements.

1.      Your kitchen! This kitchen is the centre point and the heart of your home. For a few hundred dollars you can do some minor improvements that have a huge impact. Replace the kitchen faucet, add new door handles to your cabinets, and update a light fixture. On a larger budget you can give the cabinets a make over by refacing the current doors. Make the kitchen warm and inviting with a modern touch!

2.      Appliances! If your kitchen appliances are different colours you may consider replacing them. Nothing kills the kitchen improvements by unmatched appliances.

3.      Make that Bathroom shine! Next to our kitchen improvements, bathrooms are also one of the most important rooms to improve. As with the kitchen, small changes can make drastic results. Simple things like replace the toilet, seat and sink. Replace the old flooring. Don't forget the shower; make sure the caulking is clean and not black.

4.      Paint! New paint makes your house look clean. Don't forget the ceiling.

5.      Storage! Especially with older homes, storage seems to be lacking. With your current storage space, make sure it is effective with shelving.

6.      Mechanics! Spend a few bucks on a plumber and electrician to make sure the plumbing and electrical systems on the house is neat and tidy. Nothing worst then a rat's nest of wires, faulty plugs or leaking plumbing to turn off a home inspector.

7.      Carpeting! Have you carpets professional cleaned and ready to go. If the carpet is worn and in bad shape consider replacement.

8.      Light fixtures! Replace the old looking light fixtures with new modern fixtures. Make sure the light brightens the room for a comfortable feel. You can be creative and add accent lights or spotlights to emphasize art or plants.

9.      The entry! Make sure your front door is new or newly painted. Make sure the complete entrance is inviting. The impression the buyer gets is here is huge as they are spending time here as the Realtor is opening the lockbox to gain entry into the house.

10.  Curb Appeal! Sounds obvious right? Well it does not happen. Keep the lawn mowed, the walkway swept, the gardens weeded. You never get the first impression again so make it a good one.

 

September Sales Report

Hello Friend,

 

After having very encouraging numbers for the first seven months of the year our real estate market did cool slightly in August compared to 2011. August 2012 has seen a decrease of listings from 2011 of 8%. Number of sales also decreased from 2011 by 2%. Year to date we are still up in 2012 by 4% from 2011 for sales. The  Canadian Real Estate Association (CREA), has now updated the forecast of the Canadian market to reflect some changes in our market conditions.

 

“Recent changes to mortgage regulations are likely to sideline some potential first-time home buyers, particularly in some of Canada’s priciest housing markets,” said Gregory Klump, CREA’s Chief Economist. “That’s likely to result in slower momentum for resale housing activity, with an increase in the amount of time it takes for move-up buyers to sell their current home. Job growth is widely expected to continue at a modest pace while interest rates remain on hold, so the economic outlook is absent the factors that typically result in forced sales and a dramatic swing in prices.”

 

 I do not see these changes in the market forecasting to make a huge impact in the Peterborough and area market. CREA’s numbers are mostly based on the major cities of our country. I forecast that our market locally will remain balanced  and steady with our 2011 sales especially in the residential market. Waterfront properties have been slow to sell but that is expected as the market in Toronto cools.

 

On another note, and as most of you know that I am a loyal Peterborough Lakers fan. I would like to congratulate the organization on their Mann Cup win last week. It is exciting to have the privilege to watch Canada’s best Lacrosse team win again. Wow, 5 Mann cups in the last 9 years.

 

 

August Sales Report

Hello Friend,

 

July’s statistics have been very encouraging for the real estate market in our area. We are still in a very balanced market between Buyers and Sellers. According to Peterborough and Kawarthas Association of Realtors, July has seen a decrease of listings from 2011 of 12% but number of sales in 2012 have remained consistent with 2011. Year to date we are up in 2012 by 4% from 2011 for sales. This has been consistent across the nation. According to statistics released today by The  Canadian Real Estate Association (CREA), national resale housing activity remained stable from June to July 2012.

 

“Recent changes to mortgage regulations were widely expected to temper sales and prices in Greater Toronto and Greater Vancouver, and the data released today confirms that,” said Wayne Moen, CREA President. “Even so, sales and price trends can be very different from one market to the next, and run counter to national trends. Buyers and sellers should talk to their REALTOR® to  understand how the housing market is shaping up in their area.”

“Some first-time home buyers may have difficulty qualifying for mortgage financing due to shortened amortization periods included in recent changes to mortgage regulations,” said Gregory Klump, CREA’s Chief Economist “As the lynchpin of the housing market, lower first-time buying activity will have knock-on effects over the rest of the market. It will likely take more time for move-up buyers to sell their current home.”

 

On another note, the Peterborough Lakes have once again reached the MSL finals. If you want huge bang for your entertainment buck, I highly recommend catching a game in the finals. A     warning to you, you may get hooked on lacrosse!

 

227 SWANSTON AVE Peterborough OPEN HOUSE Saturday 2-4 September 1st

Well maintained brick 1 3/4 storey home in East City! This home features formal living room with brick fireplace, 3 bedrooms, 2 bathrooms, and a brand new never used kitchen featuring self closing doors and drawers. This home also is complete with a 1 bedroom/1 bathroom in-law suite in the basement. Windows, roof, high efficiency gas furnace, electrical circuit breakers are all in very good condition. Walk-out to 16` x 10` deck. Very private park-like back yard. Walking distance to parks and easy access to the beautiful East City.

The 10 worst home improvements made for resale!

I get asked all the time what are the best improvements I can make on my home and get the best bang for my buck. It is an easy answer really. Kitchen and Bathroom. Most people know that answer before I even give it.

An interesting question came up the other day was what is the worst ideas for improvements of my house before listing.

Here is my top 10 list.

1. Broadloom through out the home. When buyers are looking at a house that has broadloom the first question is what is under the broadloom. Broadloom is now perceived as a dirt collector. Hardwood is what buyers are looking for. If your home has hardwood and is in rough shape do not cover it up, consider refinishing them or replacing with hardwood.
2. Indoor hot tubs and saunas. This was once the way to go to be stylish. Now it is viewed as expensive energy guzzlers. Hot tubs indoors make the house smell and create mold if not vented properly.
3. Built in surround sound systems. This may be great for you to have but buyers will see no extra value in this system. This also includes home theatres. Nice to have but no extra value.
4. Coloured sinks, toilets and tubs. The 70s are not back in fashion when it comes to the purple toilet. White, white and white are your choices. If the buyer sees a coloured fixture the first thought is I will need to replace that!
5. Wallpaper. Do not put up wallpaper, I repeat do not put up wallpaper. Remove your current wallpaper. Everyone hates having to peel wallpaper and that is a job that a buyer will look at with disgust.
6. Cheap laminate or peel and stick tiles. It just looks cheap and completely fake. Spend a few extra bucks and do the job correctly. I am not saying all laminate looks bad but the cheap stuff is horrible.
7. Swimming Pool. An always lively debate. To some buyers a pool is very important but to most they can live without one or do not want one all together. They can be expensive to operate and in the eyes of buyers with young children they are viewed as dangerous.
8. Pricey appliances. The appliances will not sell the house. It is nice to have pricey appliances but good clean working appliances will do the trick.
9. Colourful paint jobs. It has been said again and again that anyone redecorating or making home improvements for resale purposes should stick to a neutral palate for maximising appeal, yet some still insist on breaking out the hot orange with green trim. (you know who you are!)
10. Making a three bedroom home to a two bedroom home. Many sellers think that a huge master bedroom at the expense of the small third bedroom is a good idea. Wrong. No matter how spacious your newly enlarged master bedroom is the demand for a two bedroom home is much less then a three bedroom home. This in turn commands considerably lower prices.

July report letter

July’s statistics have been very encouraging for the real estate market in our area. We are still in a very balanced market between Buyers and Sellers. According to Peterborough and Kawarthas Association of Realtors, July has seen a decrease of listings from 2011 of 12% but number of sales in 2012 have remained consistent with 2011. Year to date we are up in 2012 by 4% from 2011 for sales. This has been consistent across the nation. According to statistics released today by The  Canadian Real Estate Association (CREA), national resale housing activity remained stable from June to July 2012.

“Recent changes to mortgage regulations were widely expected to temper sales and prices in Greater Toronto and Greater Vancouver, and the data released today confirms that,” said Wayne Moen, CREA President. “Even so, sales and price trends can be very different from one market to the next, and run counter to national trends. Buyers and sellers should talk to their REALTOR® to  understand how the housing market is shaping up in their area.”

“Some first-time home buyers may have difficulty qualifying for mortgage financing due to shortened amortization periods included in recent changes to mortgage regulations,” said Gregory Klump, CREA’s Chief Economist “As the lynchpin of the housing market, lower first-time buying activity will have knock-on effects over the rest of the market. It will likely take more time for move-up buyers to sell their current home.”

On another note, the Peterborough Lakes have once again reached the MSL finals. If you want huge bang for your entertainment buck, I highly recommend catching a game in the finals. A warning to you, you may get hooked on lacrosse!

Spring Cottage Life Show 2012

If you are considering selling your Cottage or Waterfront Property this year, I can feature your listing at the Cottage Life Show in Toronto in the Re/Max Eastern booth.

The Cottage Life Show is one of the largest shows of this type and is well attended by people who are searching for a cottage or recreational properties. Re/Max will have a modern large booth at this show featuring cottages listed by Re/Max realtors in the Peterborough and Kawartha areas. This booth will draw large crowds! I will also be working the show to promote my own listings with fliers and my very own magazine.

 If you would like your cottage or lakefront property to be featured in this unique marketing campaign and at the Cottage Show, you need to speak to me now, so that I can include your listing in this show!

Admission:

Adults (18+):	$17
Youth (13-17):	$10
Weekend Pass:	$24
Kids 12 and under:	free

Show Dates/Hours:

Friday, March 30: 11am-8pm
Saturday, March 31: 9am-6pm
Sunday, April 1: 10am-5pm

 

Venue Information :

International Centre, Toronto
Free parking for 5,000 cars
6900 Airport Road at Derry Road

Comments from Cottage Life:

What are you waiting for?

Ah, summertime… the call of the loon, the first night sleeping in the bunkie, the smell of the first barbecue with friends. Every cottager has something they just can’t wait for.


We can’t wait to see you at The Spring Cottage Life Show, March 30 to April 1, 2012! For more than 30,000 cottagers, it’s the official kick-off to the summer season. Whether you are looking for a boat, deck, dock, water toy or water system, there’s more than 475 exhibitors to enjoy. Plus, there’s dozens of free seminars, cooking demos, and feature areas to enjoy.


Not a cottager yet? The Cottage Real Estate Centre has thousands of listings on display – come and find your piece of paradise! You’ll also find cottage rental agencies to help you find a great summer getaway.