barriehome.net

For many people, mortgage payments are their single largest expense. Yet, when financing a home, most Canadians don’t comparison shop to ensure they’re getting the best mortgage rate and terms available. This mistake can cost homeowners tens of thousands of dollars over the course of their mortgage.

Here are seven ways mortgage brokers can help:

1. Access to competitive rates. Brokers deal with multiple competing lenders and can often access exclusive rates. Based on the number of mortgages brokers complete each year, they also have the power to negotiate rate discounts from lenders, which can be passed on to their clients.

2. A free service. Mortgage brokers’ services are typically available at no cost to consumers. Brokers are paid by the lender selected by their clients.

3. Knowledgeable advice. Brokers offer consultative service, advice and solutions that are customized to each client’s needs. And unlike banks, brokers work for you.

4. Speed and convenience. Brokers will work around a client’s schedule to make the transaction as easy and convenient as possible.

5. Pre-qualification. Whether you’re shopping for a new home or refinancing your existing mortgage, a broker can help you obtain a pre-approved mortgage, often with up to a 120-day interest rate guarantee.

6. Preserved credit rating. When you shop for a mortgage, there is an accumulation of lender inquiries on your credit bureau report, possibly affecting your credit rating and, ultimately, the rate and terms of your mortgage. This isn’t the case with a mortgage broker, who only does one inquiry yet can still get many competing lenders to quote on your business.

7. Peace of Mind. The Canadian Association of Accredited Mortgage Brokers has a stringent Code of Ethics that members are required to adhere to in order to retain membership.

For a free no obligation consultation and more information on how we can help you, please contact us at 705.720.1001 or 1.888.500.1841 or email gary@ndlc.ca or debbie@ndlc.ca.

According to the President of the Barrie Real Estate Board, February sales are 36% better than last year, however the active listings are down 15% from 2009! 

Bottom line is it is a great time to sell!   Call for your free Market Evaluation today!

705-791-5004.   Get The Results You Want!

Call Trevor Shaw
Sales Representative for Re/max Chay Realty Inc., Brokerage
705-722-7100
tshaw@barriehome.net

When you are preparing to purchase a home, there are a number of steps that you will follow to make the process more rewarding and enjoyable.

These are some of the steps to help you:

1. Determine what your family’s housing requirements really are. Consider location, number of bedrooms and bathrooms required, garage, etc.
2. Obtain an employment letter from your employer and keep a copy of a recent pay stub. Documentation to verify where the down payment is will also be required.
3. Obtain a mortgage pre-approval to determine what price range you should be looking at in order to avoid heartbreak during the process.
4. Meet with an Insurance Broker to obtain pre-approval of your potential insurance requirements to avoid problems later in the purchasing process.
5. Select a knowledgeable Real Estate Agent you feel comfortable dealing with. They will show you current listings and show you potential homes to meet your needs.
6. Drive around neighbourhoods at various times of the day to make sure you would feel at home in locations where you are looking.
7. Once you find that perfect home, you will complete an offer to purchase with your Real Estate Agent. Your agent will then meet with the agent representing the existing home owner to negotiate the best price on your behalf.
8. Have a home inspection completed.
9. When the offer to purchase has been accepted, give a copy of the accepted offer to your Mortgage Agent and your Lawyer. The mortgage agent will then send the required information to obtain a final mortgage approval in writing.
10. When the mortgage approval is finalized, sign waivers with your Real Estate Agent.

If you would like more information about this process or if you would like to set up a free no obligation consultation, give us a call or email gary@ndlc.ca or debbie@ndlc.ca.

After two excellent months of sales in the $250,000 and under price range we are short on inventor in the price range; not the other ranges.  If you are thinking of selling & your home is worth under the $250,000 mark, now is the time to list.  If you are a 1st time home buyer,  be patient, there is deals out there but not many.  Watch the new listings and act fast or they will be gone.

CMHC followed suit with the Government of Canada and stopped the ability of Investors to buy with 5% down; it must now be 20% down, but still better than it was 2 years ago where it was at 25% down.  On a $200,000 a downpayment would be $40,000 instead of $10,000.  A big difference!

You may be leary that interest rates will rise after July… THEY WILL!! Not significantly but they will go up in tiny amounts at a time as not to shock the market.  Do not let rates scare you!

Remember, if you are not sold in 3 weeks, REDUCE REDUCE REDUCE!!

Call Trevor Shaw at (705) 791-5004 to get the results you want!!

I deal within Barrie, Innisfil, Essa, Springwater, Oro and all around so don’t be shy! I’m just a phone call away to help you out in any way that i can!

As we head toward the end of February, we have had a very strong first 2 months in Real Estate here in Barrie.  It has been 24% better than in the first 7 weeks of the year.  Strong sales have depleted our inventory though and there is currently a shortage of well priced listings.  Good for Sellers but Bad for buyers.  If this trend continues in to the month of March, we could see a very tight market with competing offers.

Income properties are in high demand as investors have roughly 50 days remaining to buy with only 5% down instead of the new rule at 20% down.  In the last 7 days, there has been 3 legal duplexes listed under $250,000 and all sold with competing offers within the first 2 days on the market.  So if you are thinking of buying or selling a duplex, do it AS SOON AS POSSIBLE, as demand will fall at a 20% down payment.

Economy here is smooth as Honda Alliston is hiring again and offering overtime to employees.  Consumer confidence is high as well so should be a great spring.

Remember if you are not sold withint the first 21 days, then you are not price corrected.

Call Trevor Shaw 705-791-5004 to get the Results!

According to a spokesman, The Bank of Canada will not raise its interest rates to cool the country’s hot housing market.

Those who fear a bubble worry that many people are taking advantage of cheap money to buy homes they wouldn’t be able to afford once rates rise, leading ultimately to a crash in prices.

Lane said the bank understands the concern, but it uses its lending rate to keep inflation in check for the whole economy and the housing market is “only one of several factors” that influence inflation.

Canada’s residential real estate market is forecast to remain unusually strong through the first half of 2010 as economic conditions across the country improve and the stimulus impact of low interest rates continues to stoke demand, according to the latest Royal LePage House Price Survey and Market Survey Forecast. 

As confidence in the recovery builds in early 2010, increases in average house price levels and overall market activity are expected to continue. The gradual erosion of affordability driven by higher house prices and the expected late-year modest upward movement of interest rates, together with an improvement in listings supply as confidence improves, are expected to bring the market back into balance in the second half of the year, when home price increases are expected to moderate.

Trevor Shaw
Sales Representative
RE/MAX Chay Realty Inc., Brokerage
Dir: 705-791-5004
OFC: 705-722-7100

According to statistics provided by the Canadian Real Estate Association, the total home sales recorded in December 2009 on the MLS® System totalled 207 units, 56 per cent above levels in the same month in 2008. This is the seventh consecutive year-over-year increase.

The fourth quarter of 2009 was the strongest on record. As a result, annual sales in 2009 surpassed level reported in 2008.  Activity totalled 4,326 units in 2009, up seven percent from the previous year, in a year of Recession.

The total sales activity in the Barrie Region numbered 213 units in December, up 58% year over year.  The total value of all properties sold in December 2009 was $55.4 million, an increase of 50% from the previous December.

The average price for homes sold via the Association’s MLS® System in 2009 was $263,959. This is virtually unchanged from the average price of $264,034 in 2008.

The number of active residential listings on the Association’s MLS® System dropped 26 per cent from a year earlier to 1,043 units at the end of December 2009. This is the eighth consecutive month in which active listings have declined from the peak levels of 2008. The last three declines have all been in excess of 25 per cent.

Trevor Shaw

Sales Representative

Re/max Chay Realty Inc., Brokerage

OFC:  705-722-7100

CELL: 705-791-5004

Barrie’s unemployment rate has dropped for the first time since April 2008 in the fourth quarter of 2009.  Since the economy here has turned around at the end of the second quarter of 2009, fifteen hundred (1,500) full time jobs have been added.  All of this is positive news for Barrie and the housing market in general.  Spring looks as though it will be strong, a portion of people will want to be sold before the HST comes into effect.  Do not panic about the HST, as it only affects on the commission of the sales representative and not the house price; but it will also be on legal fees, appraisals and home inspections.  It is not going to add thousands of dollars to the bottom line amount, however it will add approximately two to three hundred dollars ($200 to $300) per deal.

If you are thinking of Selling and want free information call us direct at 705-791-5004.

Trevor Shaw
Sales Representative for Re/max Chay Realty Inc., Brokerage
Independtly Owned and Operated
Cell: 705-791-5004
OFC: 705-722-7100