Ruth's Rants about Real Estate in Brampton and the GTA.

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Real Estate Sales Representative - Re/Max Realty Services Inc. Brokerage
Wow! This one is perfect for the first time buyer who wants to move right in.  Located in  desirable  Heart Lake location and address are part of the appeal. This home has been renovated from top to bottom.   It has had the windows replace, new door, new siding, new kitchen, new ceramic floors, n...
Over the past few days I have been involved at the Ontario Real Estate Association's (OREA) Political Affairs Conference. The Brampton Real Estate Board (BREB) along with the outhe 41 boards across Ontario decended on Queen's Park and met with 80 MPP's. We were there to Ask the MPP's to amend th...
  Yesterday, I went to an MPP Visit with Linda Jeffrey from Brampton-Springdale. We discussed our two issues, Brownfield Redevelopment, and its tax issues and Incorporation for Real Estate Professionals. Linda was very helpful and gave us many suggestions on how to approach and further our issues...
TORONTO, November 16, 2010 - Greater Toronto REALTORS® reported 3,076 salesthrough the Multiple Listing Service® (MLS®) during the first two weeks of November2010. This represented a 16 per cent decrease compared to the 3,666 sales recorded duringthe same period in November 2009. Year-to-date sa...
Brampton Santa Calus Parade Tonight!Date: Saturday, November 20, 2010Start time: 5:00 pmDuration: 2 hoursCost: FreeLocation: Downtown Brampton, ON (Sproule Drive and Main Street North, heading south on Main Street to Elgin Drive)  
The Annual City of Brampton Christmas Tree Lighting ceremony will take place tonight, November 19, from 6 – 8 pm. Mayor Susan Fennell will hit the switch, illuminating a 60-foot spruce tree to a dramatic sound and light show to kick off Brampton’s festive season! The line-up for the evening’s fe...
Let us remember the soldiers that passed away.                          .
The latest version of our HomeMarketWatch Insider newsletteris now available on our website at: month, we publish a series of articles of interest tohomeowners -- money-saving tips, household safety checklists,home improvem...
Here are some pics from the Habitat for Humanity build I am at in New Orleans. The bottom picture is of a house just a couple doors down.     
  TORONTO, November 3, 2010 — Greater Toronto REALTORS® reported 6,681 sales through the Multiple Listing Service® (MLS®) in October 2010. This represented a 21 per cent decrease compared to the 8,476 sales recorded in October 2009. Through the first ten months of the year, sales amounted to 75,5...

Ruth Ballantyne

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the 27th of September the Region of Peel again released its grant for HomeBuyers. This is an opportunity for you to get a downpayment on a house from the Region and have it act as a grant not a loan if you stay in the house for 20 years. Here are the Details: This program will assist eligible applicants who have a total gross (pre-tax) household income of <80,000 or less to purchase a home in the Region of Peel (Brampton, Caledon or Mississauga) that does not exceed a purchase price of $280,000. Here are the requirements copied from the Region of Peel Website at What is the Affordable Home Ownership Program? The Region of Peel’s Home in Peel Affordable Ownership Program is designed to provide low-to-moderate income residents who are currently renting a unit with the opportunity to qualify for down payment loan assistance. This program will assist eligible applicants who have a total gross (pre-tax) household income of $80,000 or less to purchase a home in the Region of Peel (Brampton, Caledon or Mississauga) that does not exceed a purchase price of $280,000. Participant Eligibility •Applicants must be 18 years of age or older •Applicants must not own or have an interest in another residential property in Canada or elsewhere •The home must be the sole and principal residence of the purchaser •The applicant must currently be renting and looking to buy a sole and principal residence •The applicant must have a total gross (pre-tax) household income not exceeding $80,000 •The applicant must be able to obtain a mortgage pre-approval from a Canada Mortgage and Housing Corporation (CMHC) approved and insured lender and must submit it with their application •Participants may not include anticipated rental income from a portion of the property in order to obtain a mortgage •The applicant must be able to pay all additional closing costs •The applicant must supply all necessary documentation to the Region of Peel Eligible Homes Due to unpredictability of closing dates, new homes will not be eligible for purchase under the Home in Peel program. Participants may purchase: •resale detached homes •semi-detached •row homes •town (condominium or freehold) stacked homes •high-rise condominium units Duplex, triplex or mobile homes do not qualify as eligible homes under the Home in Peel program. For a home to be eligible, it must be modest in size relative to the community, in terms of floor area and amenities, as determined by the province or the service manager. The maximum house price for program participants in the Region of Peel is $280,000. The Down Payment Loan The down payment assistance will be up to $15,000. Repaying the Loan The down payment loan is for a 20-year period and no interest is charged if: •The home remains the sole and principal residence of the owner. The home is not to be rented, leased or sold in the 20-year period. •On the 20th anniversary date of the agreement, the loan is automatically forgiven provided there has been no default. Repayment of the loan is required when: •The home ceases to become the sole and principal residence of the owner. •The home is sold before the 20-year affordability period. If during the 20 year affordability period, the property is resold, transferred, or otherwise disposed, and an appreciation in value is incurred, the purchaser will be required to pay back to the Region of Peel the loan and 5% of the appreciation. If the home is sold for less than the original purchase price, the owner does not pay appreciation and the principal is forgiven (the sale must be at fair market value and must be an arm’s length transaction). Other Costs for the Purchaser The purchaser is expected to pay the following: •Closing costs •Inspection of the home prior to firm offer of purchase and sale •Lawyer’s fees •Land Transfer Tax What is Needed to Qualify for the Home in Peel Program? Interested applicants must complete the application form and provide all supporting documentation and return it to the Region of Peel. As funding for this program is limited, participants are selected on a first-come, first-serve basis. Once an application is received, a letter confirming eligibility will be sent within 15 business days. There is no wait list for this program; once all funding has been allocated, all remaining applicants will be notified by letter that the program has ended. Call me at 905-456-1000 ext 3344 for more details.