Explore Peterborough, ON
By Constantine Isslamow, "Training and Accountability"
(Century 21 United Realty Inc. )
Comments 1
The time may now be right for aggressive investors looking for opportunities in the real estate market, according to Local Market Monitor, a Cary, N.C.-based real estate forecasting firm. “Some housing markets are close to rock bottom, and investors with a good tolerance for risk should be looking for opportunities to invest,” said Ingo Winzer, president of Local Market Monitor. “Conservative real estate investors should probably wait a bit longer until the economy becomes a little more stable.” According to the firm’s latest National Economic Outlook, released in June, demand for housing is still weak and will remain so until the unemployment situation across the nation improves. “Once the market stabilizes or turns around, asking prices—especially those on rental properties—will be q...
By Constantine Isslamow, "Training and Accountability"
(Century 21 United Realty Inc. )
Comments 0
So your youngest child is headed off to college, and you finally have a chance to create some personal space with his empty bedroom. But what to do? Many homeowners are faced with this dilemma when family members move out. Why not remodel to reflect your current hobbies or lifestyle? “We are meeting a large number of Baby Boomers whose children have moved out and who are ready to transform their under-utilized rooms into spaces that will accommodate their new hobbies and interests,” says Jeff Brecko, vice president of Aurora Custom Remodeling in Ponte Vedra Beach, Fla. Common ideas for spare bedrooms include art studios, home theaters, game rooms or home gyms Home theaters are probably the most popular choice, Brecko says. To create one, he recommends installing comfortable specialized...
By Constantine Isslamow, "Training and Accountability"
(Century 21 United Realty Inc. )
Comments 3
With mortgage markets still tight, it’s more important than ever to have a good credit score. Having a good score not only increases the odds of being approved for a mortgage, but it can also affect your rate, as the best interest rates are generally reserved for applicants with top credit scores.Many consumers aren’t knowledgeable about their credit scores—or what impacts them. More importantly, they may not be aware of the many things they can do to improve their scores. Here are some tips that could help boost your score.    * Get a copy of your credit report. Review it carefully to ensure that it’s correct. If you find an error, contact the creditor to have it corrected. You can request a free copy of your report at www.equifax.ca or www.transunion.ca    * Pay your bills on time. Th...
By Constantine Isslamow, "Training and Accountability"
(Century 21 United Realty Inc. )
Comments 1
As interest rates creep upward, first-time home buyers might wonder if getting into a mortgage is a good idea. What if rates rise during my mortgage term, and how will I make the increased payments? There is a smart way to avoid being faced with an inescapable increase in payments should you have to renew your mortgage at a higher interest rate – and that is to pay down as much of your mortgage principal as you can afford while interest rates are low. The Mortgage Calculator Test We used the CENTUM Payment Analyzer to calculate monthly payments on a $300,000 mortgage. We chose a hypothetical five-year, fixed mortgage rate of 4.5 percent and a 25-year amortization period. (Shop around for the best mortgage; independent mortgage brokers can usually negotiate lower rates than advertised by...
By Constantine Isslamow, "Training and Accountability"
(Century 21 United Realty Inc. )
Comments 1
Choosing between a short or long term and fixed rate or variable rate depends on:•    The level of interest rate risk you can take•    Your flexibility•    The level of security you need.Generally, you get lower interest rates with a shorter term (i.e. 1 year) and higher interest rates with a longer term (i.e. 5 year).Consider a short term mortgage when:•    You are willing to follow interest rates closely and risk a higher rate when your term is up for•    renewal•    You think the current interest rate is high and expect interest rates to fall in the short term.•    Consider a long term mortgage when:•    You prefer stability so that you are guaranteed the same payments for a longer duration•    You think interest rates are likely to go up during your mortgage term.In addition to cho...
By Constantine Isslamow, "Training and Accountability"
(Century 21 United Realty Inc. )
Comments 2
The Bank of Canada raised its benchmark interest rate by 25 basis points for the second time in two months, even as households and governments in the developed world continue to cut back on spending.The rate is now 0.75 per cent. The bank said any further increases “would have to be weighed carefully against domestic and global economic developments.”The central bank became the only one in the Group of Seven to hike its key lending rate after keeping it at unprecedented lows during the recession.While economic growth in Canada has largely relied on consumer spending, the bank now projects that business and trade will make up a larger part of the country’s gross domestic product, but overall growth won’t be as large as the bank previously thought.The bank now estimates that Canadian GDP...
By Constantine Isslamow, "Training and Accountability"
(Century 21 United Realty Inc. )
Comments 0
The latest Bank of Canada Business Outlook Survey reveals optimism, despite economic turmoil in Europe and a slow recovery in the U.S. The survey was conducted with senior managers of 100 businesses selected in accordance with the composition of Canada's gross domestic product. Survey highlights include: 49 percent of those surveyed say that their firms’ sales volumes are greater than in the previous twelve months, compared to only 22 percent in the first quarter of 2010. 50 percent expect their firms’ levels of employment to be higher in the next twelve months than in the previous year. The last three quarterly survey results have remained consistent, with about half of respondents expecting an increase in employment – the highest since the last half of 2006 and early 2007. 47 percent...
By Constantine Isslamow, "Training and Accountability"
(Century 21 United Realty Inc. )
Comments 1
There is no shortage of media fallout from the Canadian Real Estate Association (CREA) announcement on June 2 that it is revising its forecast for home sales. Some news reports blame inflated prices in BC for precipitating the CREA decision to revise its forecasts. Whatever the source, word of mouth often leads to realization of predictions as more homebuyers take a wait-and-see attitude. But, according to a National Post report, home prices will continue to creep up in 2010 before they drop slightly in 2011. While experts argue on the severity of a real estate correction, most agree that prices are moving towards a flat line in the coming months.  Real estate investors might consider selling now, then reinvesting their dollars as buying opportunities become available. Pre-approved mor...
By Constantine Isslamow, "Training and Accountability"
(Century 21 United Realty Inc. )
Comments 0
The Certified General Accountants of Canada (CGA) released a study today showing a trend by Canadians toward investing in riskier assets, leaving them more prone to market fluctuations and financial stress. The study reveals a steady decline in investments by Canadians in ‘safe’ assets over the past 20 years. For example, stocks and mutual funds accounted for 19.2% of all household assets in 2009 – more than double that of 1990. Low-risk investments, such as cash and deposits, accounted for 12.3% of household assets compared to 18% two decades ago. Canadians are living dangerously on credit, more so than their counterparts in other OECD countries. According to CGA study highlights published in today’s Financial Post, Canada ranked number one among 20 OECD nations with regards to debt-to...
By Constantine Isslamow, "Training and Accountability"
(Century 21 United Realty Inc. )
Comments 1
How about both? According to the annual RBC Homeowners Survey released this week, 40 percent of people surveyed who are planning on buying a home in the next two years would opt for a combination mortgage. This is a stark rise above the 32 percent who chose this option last year. Not surprisingly, 16 percent of those surveyed say they would opt for a variable rate mortgage in 2010 down from 20 percent in 2009. Fixed rate mortgages are guaranteed not to rise during the agreed mortgage term. They provide a feeling of security to Canadians who want predictable monthly payments and protection from rising interest rates. Today’s variable rate mortgages also have fixed payment options; however, the amount applied to the loan principal changes depending on interest rates: as rates rise, more o...
By Constantine Isslamow, "Training and Accountability"
(Century 21 United Realty Inc. )
Comments 0
Canada’s mortgage market was a highlight of a recent industry meeting sponsored by the U.S. Federal Reserve Bank of Cleveland. Virginie Traclet from the Bank of Canada was there to present rules governing our mortgage market. Wall Street Journal housing reporter and blogger James R. Hagerty noted key differences in the Canadian mortgage system presented by Traclet, that likely helped stave off an implosion similar to the US housing crash: Interest on mortgage debt in Canada is not tax deductable, thus lowering the incentive among homebuyers to take on more debt. Lenders in Canada can go after borrowers’ other assets should they default on mortgage loans. This process is more convoluted for U.S. banks, making it easier for some borrowers to walk away from their mortgages. CMHC mortgage i...
By Constantine Isslamow, "Training and Accountability"
(Century 21 United Realty Inc. )
Comments 0
  For the first time in seven years, Canadian GDP has outpaced credit growth, according to a CIBC World Markets report released today. After an uncomfortable increase due to the recession, debt-to-service ratios among Canadians are now flattening. Mortgages in Canada are expanding at a rate of 0.6 percent month over month, the slowest growth since 2003. Lines of credit are growing at an even slower rate; rises in credit card balances are soft and direct loans have flatlined. A leading national news site quotes the report as saying that Canadians today spend 7.45 percent of their disposable incomes on interest payments to service debt – the lowest since mid-2006.  These findings suggest that the shock of the 2008 meteoric slide in markets, employment and investment savings is still rever...
By Constantine Isslamow, "Training and Accountability"
(Century 21 United Realty Inc. )
Comments 0
  Canadians living in B.C. and Ontario woke up on Canada Day to the inevitable reality of the Harmonized Sales Tax (HST). Homebuyers taking out mortgages for new properties now have to factor in HST on purchases over $400,000 in Ontario and $525,000 in B.C.; however, they can still qualify for rebates. If you’re looking for a home with that ‘lived-in’ feel – you’re in luck.  The HST does not apply to resale properties, although you will pay more tax on certain real estate transaction fees. Here’s a brief look at the rebate program in BC and Ontario: Federal Portion of the HST (5 percent GST) Regardless of their provinces of residence, Canadian homebuyers must pay GST (Federal portion of the HST) on new home purchases. They can claim up to 36 percent of the GST on the purchase price or c...
By Constantine Isslamow, "Training and Accountability"
(Century 21 United Realty Inc. )
Comments 0
Today, benchmark five-year mortgage rates declined to 5.79 percent at the Canadian Imperial Bank of Commerce, Bank of Nova Scotia, Laurentian Bank and Desjardins Group.  They rival recent rate reductions by the Bank of Montreal, Toronto Dominion Bank and Royal Bank of Canada. In housing market news, sales activity in some of Canada’s hottest markets dropped sharply in June. According to real estate boards in Toronto, Vancouver and Calgary, June home sales in Toronto were down by 23 percent over the same month last year, while sales in Vancouver were down 30.2 percent; Calgary showed the largest drop at 42 percent, although sales of luxury homes rose slightly. In a story published on CBC.ca, one spokesperson points out that despite the drop, June home sales in Vancouver are still up by 2...
By Constantine Isslamow, "Training and Accountability"
(Century 21 United Realty Inc. )
Comments 1
Home sales activity declined sharply in May, according to a report by the Canadian Real Estate Association (CREA). May is historically one of the busiest months for real estate sales in Canada. In the first quarter of 2010, warnings of interest rate hikes by the Bank of Canada, the implementation of HST and new mortgage rules all combined to send homebuyers rushing to get into the market, but it appears that the frenzy is coming to an end. According to Multiple Listing Service® data, seasonally adjusted home sales activity in May was down 9.5 percent from the previous month. Declines in sales in Vancouver, Toronto and Ottawa skewed the national total. The Bank of Canada will announce its next interest rate decision on July 20. Many speculate that rates will rise, but by how much isn’t ...
By Constantine Isslamow, "Training and Accountability"
(Century 21 United Realty Inc. )
Comments 0
Chemical pesticides may be effective at killing household bugs and weeds, but exposure to these products can be very harmful to humans, family pets and the environment.  Keep your home and garden looking great using these five, non-toxic pest control alternatives. Diatomaceous earth is one of the safest pesticides for ridding homes and gardens of unwanted insects.  This fine, soft powder looks harmless, but under a microscope is actually made up of tiny glass-like shards.  As pests such as ants and cockroaches crawl over the earth, they are injured and eventually dry out and die. Diatomaceous earth is available at most garden centres. Beer is a natural way to prevent slugs from chewing garden plants.  Pour beer into a shallow plastic container and leave it in your garden overnight. Slu...
Are you currently renting and dreaming of owning a home, but you don't have all the down payment in the bank? Take advantage of this opportunity with the Affordable Home Ownership Assistance Loan. The City of Peterborough is offering a $10,000 loan for people who are currently renting and are thinking of buying a home in the City or County of Peterborough. The Canada Ontario Affordable Housing Program has committed funding to help make homeownership affordable for low and moderate-income households across Ontario. Approximately 17 households may be assisted in the City and County of Peterborough.                 The eligibility criteria for this Program include, but are not limited to, the following: Applicants: 􀂃 Are currently renting; 􀂃 Do not presently own a home or property; 􀂃 Do no...
By Crystal Edwards
Comments 1
Whether you're buying or selling a home, a home inspection is a significant part of the process. Who should be there besides the home inspector when it happens? Let's look at an important reason why you should be present when the home is inspected. Suppose you're buying a home. Then you find all kinds of problems afterward, and you don't believe the home was properly inspected. First, were you there when the home was inspected? Did you read the full report and not just a summary or repair request document? It's your home inspector's job to discover and disclose whatever he finds regarding the condition of a home. However, if you're not there when he does his inspection, you'll miss key points. Be sure to carefully review the report when you receive it. Ask for the inspector's help if yo...
Click on the links below to review detailed information regarding total sales year to date up to the end of the month of February of 2010 within our local board; Peterborough and Kawartha's Association of REALTORS® Sales graph for 2010 Sales Info. for 2010 (numerical breakdown) These 2 attachments shows the units sold by price point along with average days and sale to list percentage (first link shows bar graph where the second link gives a chart with numerical breakdown).   To summarize, the top 5 price points for units sold are as follows: 1.     $200,000 - $219,999       43 units sold 2.     $160,000 - $179,999       29 units sold     3.     $220,000 - $239,999       29 units sold 4.     $180,000 - $199,999       28 units sold 5.     $140,000 - $159,999       186 units sold We truly ...

Peterborough, ON Real Estate Professionals