Real Estate Blog

Big Banks at Risk??

Empty attachment or post type not equal ‘attachment’ Are Big Banks at Risk? Are Canadian banks really at risk because of the high debt levels many Canadians are carrying? I just read the 3rd quarter bank earnings report (it was either that or watch the French language leaders debate) and was surprised by how little risk the 6 largest banks in Canada are actually taking. I looked at 3 key areas the banks could be at risk, the loan to value of the mortgage portfolio (how much debt vs property value securing the loan), the 90 day default rate...

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Big Banks at Risk??

Are Big Banks at Risk? Are Canadian banks really at risk because of the high debt levels many Canadians are carrying? I just read the 3rd quarter bank earnings report (it was either that or watch the French language leaders debate) and was surprised by how little risk the 6 largest banks in Canada are actually taking. I looked at 3 key areas the banks could be at risk, the loan to value of the mortgage portfolio (how much debt vs property value securing the loan), the 90 day default rate, and the percent of the lenders book that was insured (guaranteed b...

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Pumpkin home for sale

Fall is a Great Time for Homebuying

Empty attachment or post type not equal ‘attachment’ Why Fall is a Great Time for Homebuying When winter weather blows in, our impulse could be to hunker down and hide. However, house hunting in autumn can be to your advantage. Here are four reasons why: Better perspective. When it’s gloomy out, you’ll have a stronger idea how interiors look in low light. Also, leafy trees and shrubs can hide flaws around a home’s exterior or downspouts. Bare branches reveal areas in need of repair. Assess the action. In September, most n...

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Fall is a Great Time for Homebuying

Why Fall is a Great Time for Homebuying When winter weather blows in, our impulse could be to hunker down and hide. However, house hunting in autumn can be to your advantage. Here are four reasons why: Better perspective. When it’s gloomy out, you’ll have a stronger idea how interiors look in low light. Also, leafy trees and shrubs can hide flaws around a home’s exterior or downspouts. Bare branches reveal areas in need of repair. Assess the action. In September, most neighbours have returned from the cottage and summer holidays. What c...

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mother-and-son-leaves

Before You Rake Those Leaves

Before you rake those leaves… Empty attachment or post type not equal ‘attachment’ Bagging leaves can be back-breaking work — what happens if you leave the leaves till spring? Many good things, as it turns out: Free mulch. Fallen leaves prevent weed growth and retain moisture just like wood mulch. They also protect lawns and gardens from scattered salt when the ice hits. Delicate plants thrive under a mat of wet or frozen leaves, and can easily push through in the spring. Shelter for bees and butterflies. Did you know not all Mo...

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Before You Rake Those Leaves

Before you rake those leaves… Bagging leaves can be back-breaking work — what happens if you leave the leaves till spring? Many good things, as it turns out: Free mulch. Fallen leaves prevent weed growth and retain moisture just like wood mulch. They also protect lawns and gardens from scattered salt when the ice hits. Delicate plants thrive under a mat of wet or frozen leaves, and can easily push through in the spring. Shelter for bees and butterflies. Did you know not all Monarch butterflies migrate? A number of our fluttery friends overwinter i...

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Keys in Hand

Recovery in Second Quarter

Empty attachment or post type not equal ‘attachment’ Canadian real estate market continues recovery in second quarter According to the Royal LePage House Price Survey1, during the second quarter of 2019 low interest rates and healthy employment offset the market drag caused by economic uncertainty that kept monthly unit sales volumes below the ten-year average2. As a result, home prices appreciated modestly at the national level. The Royal LePage National House Price Composite, compiled from proprietary property data in 63 of the nation&...

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Recovery in Second Quarter

Canadian real estate market continues recovery in second quarter According to the Royal LePage House Price Survey1, during the second quarter of 2019 low interest rates and healthy employment offset the market drag caused by economic uncertainty that kept monthly unit sales volumes below the ten-year average2. As a result, home prices appreciated modestly at the national level. The Royal LePage National House Price Composite, compiled from proprietary property data in 63 of the nation’s largest real estate markets, showed that the price of a home i...

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Home Ownership and Mortgages

Home Ownership and Mortgages – Good News, Bad News Empty attachment or post type not equal ‘attachment’ Stats Canada recently reported that home ownership in Canada has increased from 60% of families in 1999 to 63% in 2016. That’s good news for the Canadian economy and most families, but the bad news is the number of families who have paid off their mortgage has decreased from 46% to 43%. During this study period we saw record low interest rates, so in theory we should have had an advantage paying off our mortgages? I don&...

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Home Ownership and Mortgages

Home Ownership and Mortgages – Good News, Bad News Stats Canada recently reported that home ownership in Canada has increased from 60% of families in 1999 to 63% in 2016. That’s good news for the Canadian economy and most families, but the bad news is the number of families who have paid off their mortgage has decreased from 46% to 43%. During this study period we saw record low interest rates, so in theory we should have had an advantage paying off our mortgages? I don’t think the rates are the issue, it’s our behavior, and chan...

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Teaching Kids About Money

Empty attachment or post type not equal ‘attachment’ Teaching Kids About Money I’m often asked by clients if I can help their children prepare to buy a home? I love doing this because I think it is an area that our school system gets a failing grade. The next question I get is, when should they start learning about finances? I think it should start at a very young age with allowances, savings programs to buy that bike or pair of shoes. It’s a way of thinking not a level of intelligence. If kids learn at an early age that if the...

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Working with a Mortgage Broker; just like dating!

Working with a Mortgage Broker; just like dating! Empty attachment or post type not equal ‘attachment’ Banks are declining more mortgage applications than ever, in fact, the borrower rejection rate from mortgage lenders has gone up by as much as 20% since Canada’s banking regulators imposed the stress test for home buyers. What this means is people need to get their application in front of more than one lender, lenders are human, and just because one person says no, doesn’t mean the next will, just like dating!! Working wi...

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