Hiring the right home inspector is important. After all, you want the inspection to leave no stone unturned when determining the condition of the house you are considering purchasing. Unfortunately, the professionalism and range of services vary widely in the home inspection industry. So it pays to ask the right questions before you choose. Here are a few suggestions:
“What does your inspection cover?”
A home inspector should be able to resent you with a detailed list of what is covered in the inspection. Don’t settle for a vague verbal promise like, “We check everything top to bottom.” Get it in writing. In addition, you should get an assurance that the inspection complies with all Local and State or Provincial regulation.
“What are your qualifications?”
As with most professions, experience counts. You want to check how long the inspector has been in the business, and how many homes like yours he has inspected. Also ask about his credentials. What professional training programs has he completed? Does he belong to a recognized home inspection association?(if so, he should have an ID card to prove it.)
“Do you also offer to do home repairs or renovations?”
If he does, it’s a conflict of interest. You want an inspector to give you an unbiased report as to the condition of the house, without any expectation of getting some contracting work on the side.
“How long will the inspection take?”
You’ll want to find out if the inspector takes his time and does a thorough job. Or rushes things so he can get as many homes done in a day as possible. On average, a typical single family home should take two to three hours to inspect properly.
“May I contact some references?”
Ask for references from people in the neighbourhood you are considering. Then, make sure you call them.
Thursday, July 31, 2008
Wednesday, July 30, 2008
Boost Curb Appeal In Less Than a DAY!
A realtor stops the car in front of your house. Potential buyers are in the backseat. They look. They talk. Then they drive away!
What happened!
It may be that their first impression was not a good one. People do tend to judge a book by its cover. That’s why it is so important to ake the “curb view” of your home the best it can be.
Here are a few tips:
What happened!
It may be that their first impression was not a good one. People do tend to judge a book by its cover. That’s why it is so important to ake the “curb view” of your home the best it can be.
Here are a few tips:
- Clear the sidewalk
- Cut the grass
- Paint faded window and door trims
- Plant flowers
- Trim bushes and hedges
- Check exterior lighting (In case a buyer drives by at night.)
- Make sure the house number is clearly visible
Tuesday, July 29, 2008
The Relationship Between the Rising Price of Oil and Gas and Real Estate - Part 6
Today we will conclude our 6 part series on the way the inevitable increases in oil and gas prices are and will continue to effect the real estate market.
We have looked at how location, heating systems, design and floor plan, square footages, building materials, and the Building Code are all profoundly effected.
Aside from all of that, the effect of the energy crisis on the economy over all will profoundly effect the real estate market. As more of people’s disposable income is absorbed by transportation costs, food costs, and the cost of virtually every product and commodity, people will be forced carve down their housing allowances.
The term and implications of the word “downsizing” will change from being an elective change of values from ownership to experiential living, to a mandatory change for survival. Downsizing will be a matter of absolute necessity verses a lifestyle choice.
Look forward to many more small 1000 to 1500 square foot 3 bedroom ranchers in the lower mid range of your market area’s average residential housing price point, and look at larger homes on the high end of the market sitting for a much longer period of time on the market.
Increasing gas prices will also effect on a macro economic scale as it effects tourism and the influx of people to our area as new citizens, as well as tourism dollars dropped in our communities, which will in turn have a spin off effect on our real estate market as the trickle down effect ensues.
This concludes our study of the impact of rising energy costs on the real estate market. We hope you’ve enjoyed it and we tremendously value your input.
Best Regards,
The Debbie Simmonds Lifestyles Real Estate Team
We have looked at how location, heating systems, design and floor plan, square footages, building materials, and the Building Code are all profoundly effected.
Aside from all of that, the effect of the energy crisis on the economy over all will profoundly effect the real estate market. As more of people’s disposable income is absorbed by transportation costs, food costs, and the cost of virtually every product and commodity, people will be forced carve down their housing allowances.
The term and implications of the word “downsizing” will change from being an elective change of values from ownership to experiential living, to a mandatory change for survival. Downsizing will be a matter of absolute necessity verses a lifestyle choice.
Look forward to many more small 1000 to 1500 square foot 3 bedroom ranchers in the lower mid range of your market area’s average residential housing price point, and look at larger homes on the high end of the market sitting for a much longer period of time on the market.
Increasing gas prices will also effect on a macro economic scale as it effects tourism and the influx of people to our area as new citizens, as well as tourism dollars dropped in our communities, which will in turn have a spin off effect on our real estate market as the trickle down effect ensues.
This concludes our study of the impact of rising energy costs on the real estate market. We hope you’ve enjoyed it and we tremendously value your input.
Best Regards,
The Debbie Simmonds Lifestyles Real Estate Team
Saturday, July 26, 2008
Local Events
Looking for something fun to do with the whole family?! Why not check out some of these great community events!
July 26 Artisan’s in Waterwheel Park 10am-5pm Chemainus Chamber of Commerce (250) 246-3944
August 6,13 ,20 ,27 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
August 9Celebration - BC's 150th Birthday Bash Waterwheel Park. Chemainus Valley Cultural Society246-9102
September 3,10 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
September Silent Auction & Garage Sale in Waterwheel Parking Lot Chemainus Rotary Club Shannon (250) 246-2994
September 11 – October 25 The Miracle Worker by William Gibson Chemainus Theatre Festival (250) 246-9820
October 4 Harvest Moon Dance – Chemainus Legion Hall Fraternal Order of Eagles – Craig (250) 246-3947
October 5 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
November 2 Christmas Craft Show @ the Legion Hall 9am -2pm Royal Canadian Legion #191 –Ann (250) 246-4880
November 6 – December 28 Having Hope at Home by David S. Craig Chemainus Theatre Festival (250 246-9820
November 24Christmas Bazaar @ the Legion Hall Ladies Auxiliary
November 29Christmas Dinner Dance – Fuller Lake Activity Room Fraternal Order of Eagles – Merv (250) 246-3401
December 2 Golden Brush Community Awards @ the Theatre Chemainus Chamber of Commerce (250) 246-3944
December 6 Christmas Self Guided Walking Tour Gunnell (250) 246-2421
December 6 Chemainus Christmas Carol Ship – BC Ferries- Fraternal Order of Eagles (250) 246-3947
December 7 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
December 20 – January 3 KidzPlay Series – Rumpelstiltskin Chemainus Theatre Festival (250) 246-9820 out!
July 26 Artisan’s in Waterwheel Park 10am-5pm Chemainus Chamber of Commerce (250) 246-3944
August 6,13 ,20 ,27 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
August 9Celebration - BC's 150th Birthday Bash Waterwheel Park. Chemainus Valley Cultural Society246-9102
September 3,10 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
September Silent Auction & Garage Sale in Waterwheel Parking Lot Chemainus Rotary Club Shannon (250) 246-2994
September 11 – October 25 The Miracle Worker by William Gibson Chemainus Theatre Festival (250) 246-9820
October 4 Harvest Moon Dance – Chemainus Legion Hall Fraternal Order of Eagles – Craig (250) 246-3947
October 5 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
November 2 Christmas Craft Show @ the Legion Hall 9am -2pm Royal Canadian Legion #191 –Ann (250) 246-4880
November 6 – December 28 Having Hope at Home by David S. Craig Chemainus Theatre Festival (250 246-9820
November 24Christmas Bazaar @ the Legion Hall Ladies Auxiliary
November 29Christmas Dinner Dance – Fuller Lake Activity Room Fraternal Order of Eagles – Merv (250) 246-3401
December 2 Golden Brush Community Awards @ the Theatre Chemainus Chamber of Commerce (250) 246-3944
December 6 Christmas Self Guided Walking Tour Gunnell (250) 246-2421
December 6 Chemainus Christmas Carol Ship – BC Ferries- Fraternal Order of Eagles (250) 246-3947
December 7 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
December 20 – January 3 KidzPlay Series – Rumpelstiltskin Chemainus Theatre Festival (250) 246-9820 out!
Friday, July 25, 2008
REFINANCING
Should you break your mortgage for a lower rate?Yes and no. When you break your mortgage contract to renew your mortgage at a new rate and a new term, you're faced with a prepayment charge to reimburse your financial institution for the lost interest income. As a basic rule of thumb, the prepayment charge is based on three months interest or the interest rate differential (that's the difference between you present mortgage rate for the balance of your term and the current rate you want to take out), whichever is greater.
Did you know that most Banks and Lending Institutions offer the worst rate possible when your mortgage comes up for renewal?
In response, you say: "But, they have all my business, they will give me the best rate because I have been with them for years!" -Wrong!
The fact is that each Bank branch acts as a separate profit centre independent of the Head Office. They are rewarded and paid based upon the profitability of their over all mortgage portfolio. They know that most homeowners don't want to go through the hassle of shopping around, and possibly having to re-qualify for their mortgage at a different Bank, so, they offer you a higher rate and hope that you will take it.
Some homeowners are smarter than others, and they negotiate for a better rate. This usual results in a rate that is 0.50 - 0.75% better than what was originally offered in the renewal process. The smartest homeowners call a mortgage broker!
We are able to gain competing offers on your mortgage business and we usually return with a rate that is -1.00 to -1.75% better than your Bank would offer you. That's right, - 1.75% better! This can translate into incredible savings! (See below with only a -1.50% savings)
Imagine saving over $129 per month, and reducing your mortgage by an additional $3,000 in 5 short years!
Here's an example for you to consider:
Bank Renewal Mortgage Mortgage Broker Negotiated Mortgage
Mortgage Principal: $150,000 Mortgage Principal: $150,000
Rate 5 yr Term: 6 % Rate 5 yr Term: 4.50%
Monthly Payment: $959.71 Monthly Payment: $830.21
Savings Monthly: $0 / month Savings Monthly: $129.50
Mortgage Principal at Term end: $134,755 Mortgage Principal at Term end: $131,694
Savings on Principal: $0 Savings on Principal: $3,061 !!!
In addition to a better rate, we can usually tailor fit a mortgage product to your specific needs. We fit a Lender's product to your specific desire to have a flexible mortgage versus a closed mortgage, or a variable term versus a fixed term, etc. We deal with over 30+ Lenders, so options are always available!
Arguably the best reason to use us for your mortgage referral is that we know the secret. Secret you ask? Yes, the secret is that you can secure your mortgage renew up to 120 days before your mortgage actually renews! This often helps you save thousands of dollars in interest. For instance, if your mortgage renews on June 1st, we can secure a new rate for you as early as February 1st. It often happens that rates fluctuate every 60 days, so, you will often be able to get a preferred with us.
Take a moment now, and feel free to contact one of our highly skilled mortgage brokers to help save you money on your renewing mortgage.
Did you know that most Banks and Lending Institutions offer the worst rate possible when your mortgage comes up for renewal?
In response, you say: "But, they have all my business, they will give me the best rate because I have been with them for years!" -Wrong!
The fact is that each Bank branch acts as a separate profit centre independent of the Head Office. They are rewarded and paid based upon the profitability of their over all mortgage portfolio. They know that most homeowners don't want to go through the hassle of shopping around, and possibly having to re-qualify for their mortgage at a different Bank, so, they offer you a higher rate and hope that you will take it.
Some homeowners are smarter than others, and they negotiate for a better rate. This usual results in a rate that is 0.50 - 0.75% better than what was originally offered in the renewal process. The smartest homeowners call a mortgage broker!
We are able to gain competing offers on your mortgage business and we usually return with a rate that is -1.00 to -1.75% better than your Bank would offer you. That's right, - 1.75% better! This can translate into incredible savings! (See below with only a -1.50% savings)
Imagine saving over $129 per month, and reducing your mortgage by an additional $3,000 in 5 short years!
Here's an example for you to consider:
Bank Renewal Mortgage Mortgage Broker Negotiated Mortgage
Mortgage Principal: $150,000 Mortgage Principal: $150,000
Rate 5 yr Term: 6 % Rate 5 yr Term: 4.50%
Monthly Payment: $959.71 Monthly Payment: $830.21
Savings Monthly: $0 / month Savings Monthly: $129.50
Mortgage Principal at Term end: $134,755 Mortgage Principal at Term end: $131,694
Savings on Principal: $0 Savings on Principal: $3,061 !!!
In addition to a better rate, we can usually tailor fit a mortgage product to your specific needs. We fit a Lender's product to your specific desire to have a flexible mortgage versus a closed mortgage, or a variable term versus a fixed term, etc. We deal with over 30+ Lenders, so options are always available!
Arguably the best reason to use us for your mortgage referral is that we know the secret. Secret you ask? Yes, the secret is that you can secure your mortgage renew up to 120 days before your mortgage actually renews! This often helps you save thousands of dollars in interest. For instance, if your mortgage renews on June 1st, we can secure a new rate for you as early as February 1st. It often happens that rates fluctuate every 60 days, so, you will often be able to get a preferred with us.
Take a moment now, and feel free to contact one of our highly skilled mortgage brokers to help save you money on your renewing mortgage.
Thursday, July 24, 2008
Getting Schooled on Local Schools
If you have kids, the local school will be a big part of your new home buying decision. That’s why it’s important to get a schools “vital statistics,’ such as :
- Safety record
- Curriculum
- Accommodating for special needs
- Awards
- Average class sizes
- Extracurricular activities (sports. Arts. Crafts. Technology. Etc.)
- Scores on standardized achievement tests.
- Daily schedules and vacations
Even such seemingly inconsequential detail as hours of operation can be important. If school starts a half hour later than you expected, you may not be able to drop off your kids on your way to work and therefore, you will need t make other arrangements.
Wednesday, July 23, 2008
Giving Buyers the Red Carpet Treatment
You don’t have to roll an actual red carpet down your walkway every time you show your home. (But it wouldn’t hurt!)
The most important thing is to make sure the journey to your front door is a pleasant one. That’s when buyers form their first impressions.
Make sure the walkway is swept clean and is clear. The last thing you want is for a buyer to trip on a broken paving stone, or get matted clumps of freshly-cut grass stuck to their pant legs!
The most important thing is to make sure the journey to your front door is a pleasant one. That’s when buyers form their first impressions.
Make sure the walkway is swept clean and is clear. The last thing you want is for a buyer to trip on a broken paving stone, or get matted clumps of freshly-cut grass stuck to their pant legs!
Tuesday, July 22, 2008
The Relationship Between the Rising Price of Oil and Gas and Real Estate - Part 5
This week’s topic is how rising oil and gas prices will effect the building code. Each year our building codes are revised and enhanced to increase the safety and quality of our housing. This also inevitably leads to the increase in the cost of new construction. For example, with climate change and the consequent wind storms etc. not normally experienced in our area, the building code was amended to require that shingle nails be much be longer. This of course means more cost for longer shingle nails and this is just a minute example of how the code effects over all costs and begins to add up on a construction project.
Ultimately the building code will demand increased energy efficiency. R ratings are likely to increase, new and improved insulation materials will be employed, hot water systems that are locale specific rather than one hot water tank inefficiently supplying the whole house may be considered as mandatory one day. New roofing materials that in themselves have a greater R factor will be considered.
Eco-block insulated construction which is much more energy efficient than frame construction could one day be mandatory. This would cause an enormous cost to the developer, but much increased energy efficiency to the end user.
Houses may be mandated to be built in such a way that they are solar efficient by the nature of their orientation on the property. Solar panels may also be mandated one day.
These are just a few examples of what are, and what may become reality for Canadians in the years to come as a result of increasing oil and gas prices.
Best Regards,
The Debbie Simmonds Lifestyles Real Estate Team
Ultimately the building code will demand increased energy efficiency. R ratings are likely to increase, new and improved insulation materials will be employed, hot water systems that are locale specific rather than one hot water tank inefficiently supplying the whole house may be considered as mandatory one day. New roofing materials that in themselves have a greater R factor will be considered.
Eco-block insulated construction which is much more energy efficient than frame construction could one day be mandatory. This would cause an enormous cost to the developer, but much increased energy efficiency to the end user.
Houses may be mandated to be built in such a way that they are solar efficient by the nature of their orientation on the property. Solar panels may also be mandated one day.
These are just a few examples of what are, and what may become reality for Canadians in the years to come as a result of increasing oil and gas prices.
Best Regards,
The Debbie Simmonds Lifestyles Real Estate Team
Saturday, July 19, 2008
Local Events
Looking for something fun to do with the whole family?! Why not check out some of these great community events!
July 26 Artisan’s in Waterwheel Park 10am-5pm Chemainus Chamber of Commerce (250) 246-3944
August 6,13 ,20 ,27 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
August 9Celebration - BC's 150th Birthday Bash Waterwheel Park. Chemainus Valley Cultural Society246-9102
September 3,10 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
September Silent Auction & Garage Sale in Waterwheel Parking Lot Chemainus Rotary Club Shannon (250) 246-2994
September 11 – October 25 The Miracle Worker by William Gibson Chemainus Theatre Festival (250) 246-9820
October 4 Harvest Moon Dance – Chemainus Legion Hall Fraternal Order of Eagles – Craig (250) 246-3947
October 5 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
November 2 Christmas Craft Show @ the Legion Hall 9am -2pm Royal Canadian Legion #191 –Ann (250) 246-4880
November 6 – December 28 Having Hope at Home by David S. Craig Chemainus Theatre Festival (250 246-9820
November 24Christmas Bazaar @ the Legion Hall Ladies Auxiliary
November 29Christmas Dinner Dance – Fuller Lake Activity Room Fraternal Order of Eagles – Merv (250) 246-3401
December 2 Golden Brush Community Awards @ the Theatre Chemainus Chamber of Commerce (250) 246-3944
December 6 Christmas Self Guided Walking Tour Gunnell (250) 246-2421
December 6 Chemainus Christmas Carol Ship – BC Ferries- Fraternal Order of Eagles (250) 246-3947
December 7 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
December 20 – January 3 KidzPlay Series – Rumpelstiltskin Chemainus Theatre Festival (250) 246-9820 out!
July 26 Artisan’s in Waterwheel Park 10am-5pm Chemainus Chamber of Commerce (250) 246-3944
August 6,13 ,20 ,27 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
August 9Celebration - BC's 150th Birthday Bash Waterwheel Park. Chemainus Valley Cultural Society246-9102
September 3,10 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
September Silent Auction & Garage Sale in Waterwheel Parking Lot Chemainus Rotary Club Shannon (250) 246-2994
September 11 – October 25 The Miracle Worker by William Gibson Chemainus Theatre Festival (250) 246-9820
October 4 Harvest Moon Dance – Chemainus Legion Hall Fraternal Order of Eagles – Craig (250) 246-3947
October 5 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
November 2 Christmas Craft Show @ the Legion Hall 9am -2pm Royal Canadian Legion #191 –Ann (250) 246-4880
November 6 – December 28 Having Hope at Home by David S. Craig Chemainus Theatre Festival (250 246-9820
November 24Christmas Bazaar @ the Legion Hall Ladies Auxiliary
November 29Christmas Dinner Dance – Fuller Lake Activity Room Fraternal Order of Eagles – Merv (250) 246-3401
December 2 Golden Brush Community Awards @ the Theatre Chemainus Chamber of Commerce (250) 246-3944
December 6 Christmas Self Guided Walking Tour Gunnell (250) 246-2421
December 6 Chemainus Christmas Carol Ship – BC Ferries- Fraternal Order of Eagles (250) 246-3947
December 7 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
December 20 – January 3 KidzPlay Series – Rumpelstiltskin Chemainus Theatre Festival (250) 246-9820 out!
Friday, July 18, 2008
Pre-approved Mortgage
A pre-approved mortgage certificate is a written commitment, by a lender, that you will get a mortgage for a set amount of money, at a specific rate of interest that is guaranteed for a set period of days. The commitment is made subject to a property assessment. The service is free and without obligation.
A pre-approved mortgage gives you an edge. Before you even go house hunting, you will know the size of your mortgage, the interest rate, and the size of your monthly mortgage payments. With your financing already mapped out, you can concentrate on finding the right home in your price range. A pre-approved mortgage also puts you in a strong bargaining position when you make an Offer to Purchase. If the seller wants to make a quick sale, you may be able to negotiate a price lower than the list price, because the seller knows that you are a serious buyer. On the other hand, if several people are bidding on the home you want, you may decide to offer to purchase at the list price, to beat out earlier offers.
This also lets the realtor no that you are a serious buyer. There is no point for the realtor showing you homes out of your price range.
Shopping for a Home
You are ready to go shopping if you have:
Set aside money for your down payment and additional costs
Determined the price of home you can afford
Investigated your mortgage options
Your pre-approved mortgage certificate
http://www.expertmortgages.ca/
Allyson Foulis, Laura Reaney, Maureen Haslehurst, AMP Brokers
Jennifer Robinson, Cheryl Leukefeld, Katharine Creery
office 250-727-7746
fax 250-721-5924
A pre-approved mortgage gives you an edge. Before you even go house hunting, you will know the size of your mortgage, the interest rate, and the size of your monthly mortgage payments. With your financing already mapped out, you can concentrate on finding the right home in your price range. A pre-approved mortgage also puts you in a strong bargaining position when you make an Offer to Purchase. If the seller wants to make a quick sale, you may be able to negotiate a price lower than the list price, because the seller knows that you are a serious buyer. On the other hand, if several people are bidding on the home you want, you may decide to offer to purchase at the list price, to beat out earlier offers.
This also lets the realtor no that you are a serious buyer. There is no point for the realtor showing you homes out of your price range.
Shopping for a Home
You are ready to go shopping if you have:
Set aside money for your down payment and additional costs
Determined the price of home you can afford
Investigated your mortgage options
Your pre-approved mortgage certificate
http://www.expertmortgages.ca/
Allyson Foulis, Laura Reaney, Maureen Haslehurst, AMP Brokers
Jennifer Robinson, Cheryl Leukefeld, Katharine Creery
office 250-727-7746
fax 250-721-5924
Thursday, July 17, 2008
Why You Should Order Your Own Credit Report
“I don’t have a problem with credit’” a potential new home buyer says. “I pay my bills on time. I never have trouble getting a loan.”
That may be true. However, according to several surveys, most people are surprised by at least one piece of information in their credit report. And it only takes one derogatory item to create an obstacle to getting the lowest mortgage rate possible, or even getting a mortgage rate possible, or even getting a mortgage at all.
That’s why it’s important to check your credit report before you shop for a new home. You will then have the opportunity to deal with any unexpected issues.
For example, you may discover an error. (This isn’t unusual) If you do find there is a mistake in your credit report, inform the credit bureau immediately. They are required, bylaw, to promptly make a correction.
If there are late payments noted on your credit report, you can write a letter of explanation to the credit bureau telling your side of the story. This will accompany the credit information that goes to your lender. Assuming everything else in your credit report is fairly good, most lenders will accept a reasonable explanation for late payments, such as being laid off from a job, an extended illness in the family, or military service overseas.
How do you get your credit report?
All have websites that allow you to order your credit report for a reasonable fee. It’s a good idea to order all tree credit reports as not all companies report credit information to all three bureaus.
Getting your credit report, and checking that it’s accurate, will make the home buying process go a lot more smoothly.
That may be true. However, according to several surveys, most people are surprised by at least one piece of information in their credit report. And it only takes one derogatory item to create an obstacle to getting the lowest mortgage rate possible, or even getting a mortgage rate possible, or even getting a mortgage at all.
That’s why it’s important to check your credit report before you shop for a new home. You will then have the opportunity to deal with any unexpected issues.
For example, you may discover an error. (This isn’t unusual) If you do find there is a mistake in your credit report, inform the credit bureau immediately. They are required, bylaw, to promptly make a correction.
If there are late payments noted on your credit report, you can write a letter of explanation to the credit bureau telling your side of the story. This will accompany the credit information that goes to your lender. Assuming everything else in your credit report is fairly good, most lenders will accept a reasonable explanation for late payments, such as being laid off from a job, an extended illness in the family, or military service overseas.
How do you get your credit report?
There are three major credit bureaus in North America:
- Equifax (www.equifax.com)
- Trans Union (www.transunion.com)
- Experian (www.experian.com)
All have websites that allow you to order your credit report for a reasonable fee. It’s a good idea to order all tree credit reports as not all companies report credit information to all three bureaus.
Getting your credit report, and checking that it’s accurate, will make the home buying process go a lot more smoothly.
Wednesday, July 16, 2008
5 Minute Tips for Preparing Your Home for Viewing
Obviously, your home should look its best when potential buyers arrive. However, time is not always on your side. There may be times when you have only a few minutes to get things ready. What you do with those minutes can mean the difference between an interested buyer…. And one who crosses your home off the list.
Here are some of the things you can do to help your home look its best in just five minutes or less:
Put away coats, hats, and shoes. Clean up, especially around the foyer. You don’t want clutter to be the first thing a buyer sees.
Turn on all lights and lamps. A home that is bright looks larger.
Put on some soft music. Easy listening is the best choice. Don’t play rock or jazz music because some people might dislike it. Think elevator music.
Make sure the toilet lids are down. Even when a washroom is sparking clean, a raised toilet seat gives the impression however incorrectly-that thinks are less than hygienic.
Relocate the pets. Put pets in the back yard or basement, or at least segregate them in a separate room. Better still; take them away from your home entirely.
Close the garage doors. Most garages don’t look great on the inside.
Hide the waste bins. Keep them out of site.
Wash the dishes. If possible, don’t leave them on a drying rack. Put them away.
Put away personal items. Put family pictures, bills and other personally identifying information away. You want the buyers to visualize themselves living in your home, not you.
Open all curtains and blinds. This makes rooms look bigger and brighter, even at night.
Here are some of the things you can do to help your home look its best in just five minutes or less:
Put away coats, hats, and shoes. Clean up, especially around the foyer. You don’t want clutter to be the first thing a buyer sees.
Turn on all lights and lamps. A home that is bright looks larger.
Put on some soft music. Easy listening is the best choice. Don’t play rock or jazz music because some people might dislike it. Think elevator music.
Make sure the toilet lids are down. Even when a washroom is sparking clean, a raised toilet seat gives the impression however incorrectly-that thinks are less than hygienic.
Relocate the pets. Put pets in the back yard or basement, or at least segregate them in a separate room. Better still; take them away from your home entirely.
Close the garage doors. Most garages don’t look great on the inside.
Hide the waste bins. Keep them out of site.
Wash the dishes. If possible, don’t leave them on a drying rack. Put them away.
Put away personal items. Put family pictures, bills and other personally identifying information away. You want the buyers to visualize themselves living in your home, not you.
Open all curtains and blinds. This makes rooms look bigger and brighter, even at night.
Local Events
Looking for something fun to do with the whole family?! Why not check out some of these great community events!
August 6,13 ,20 ,27 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
September 3,10 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
September Silent Auction & Garage Sale in Waterwheel Parking Lot Chemainus Rotary Club Shannon (250) 246-2994
September 11 – October 25 The Miracle Worker by William Gibson Chemainus Theatre Festival (250) 246-9820
October 4 Harvest Moon Dance – Chemainus Legion Hall Fraternal Order of Eagles – Craig (250) 246-3947
October 5 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
November 2 Christmas Craft Show @ the Legion Hall 9am -2pm Royal Canadian Legion #191 –Ann (250) 246-4880
November 6 – December 28 Having Hope at Home by David S. Craig Chemainus Theatre Festival (250 246-9820
November 24Christmas Bazaar @ the Legion Hall Ladies Auxiliary
November 29Christmas Dinner Dance – Fuller Lake Activity Room Fraternal Order of Eagles – Merv (250) 246-3401
December 2 Golden Brush Community Awards @ the Theatre Chemainus Chamber of Commerce (250) 246-3944
December 6 Christmas Self Guided Walking Tour Gunnell (250) 246-2421
December 6 Chemainus Christmas Carol Ship – BC Ferries- Fraternal Order of Eagles (250) 246-3947
December 7 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
December 20 – January 3 KidzPlay Series – Rumpelstiltskin Chemainus Theatre Festival (250) 246-9820 out!
August 6,13 ,20 ,27 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
September 3,10 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
September Silent Auction & Garage Sale in Waterwheel Parking Lot Chemainus Rotary Club Shannon (250) 246-2994
September 11 – October 25 The Miracle Worker by William Gibson Chemainus Theatre Festival (250) 246-9820
October 4 Harvest Moon Dance – Chemainus Legion Hall Fraternal Order of Eagles – Craig (250) 246-3947
October 5 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
November 2 Christmas Craft Show @ the Legion Hall 9am -2pm Royal Canadian Legion #191 –Ann (250) 246-4880
November 6 – December 28 Having Hope at Home by David S. Craig Chemainus Theatre Festival (250 246-9820
November 24Christmas Bazaar @ the Legion Hall Ladies Auxiliary
November 29Christmas Dinner Dance – Fuller Lake Activity Room Fraternal Order of Eagles – Merv (250) 246-3401
December 2 Golden Brush Community Awards @ the Theatre Chemainus Chamber of Commerce (250) 246-3944
December 6 Christmas Self Guided Walking Tour Gunnell (250) 246-2421
December 6 Chemainus Christmas Carol Ship – BC Ferries- Fraternal Order of Eagles (250) 246-3947
December 7 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
December 20 – January 3 KidzPlay Series – Rumpelstiltskin Chemainus Theatre Festival (250) 246-9820 out!
Tuesday, July 15, 2008
The Relationship Between the Rising Price of Oil and Gas and Real Estate - Part 4
As we continue our series on how rising oil and gas prices are effecting the real estate industry, this week we would like to focus on how the energy crisis is impacting the cost of new construction.
The cost of all building materials are going up, some at alarming rates. Builders are pausing and reassessing their costs and unit margins on a weekly basis. Inevitably there will be a lull in new construction until markets begin rising fast enough to keep pace with inflation. We anticipate that there will be a lag time before that happens. In the mean time developers will finish the projects they have started and prices will necessarily be much higher to cover their costs.
The cost of materials themselves have increased dramatically because of the energy cost of producing them at source, as well as the transportation cost increases to have them shipped to the site. This is particularly significant for those of us on Vancouver Island because of proximity to the manufacturers and ferry costs. Combined with a labour shortage in Canada of the trades, this is making life very uncomfortable for builders and developers.
Numerous materials containing oil derivatives ie. rubbers, wiring conduit, plastics, pipes carpet, paint, vinyl, etc., will also see significantly inflated prices.
All of these combined factors are and will continue to culminate in higher building material cost and consequently higher new construction prices past on to the consumer.
Best Regards,
The Debbie Simmonds Lifestyles Real Estate Team
The cost of all building materials are going up, some at alarming rates. Builders are pausing and reassessing their costs and unit margins on a weekly basis. Inevitably there will be a lull in new construction until markets begin rising fast enough to keep pace with inflation. We anticipate that there will be a lag time before that happens. In the mean time developers will finish the projects they have started and prices will necessarily be much higher to cover their costs.
The cost of materials themselves have increased dramatically because of the energy cost of producing them at source, as well as the transportation cost increases to have them shipped to the site. This is particularly significant for those of us on Vancouver Island because of proximity to the manufacturers and ferry costs. Combined with a labour shortage in Canada of the trades, this is making life very uncomfortable for builders and developers.
Numerous materials containing oil derivatives ie. rubbers, wiring conduit, plastics, pipes carpet, paint, vinyl, etc., will also see significantly inflated prices.
All of these combined factors are and will continue to culminate in higher building material cost and consequently higher new construction prices past on to the consumer.
Best Regards,
The Debbie Simmonds Lifestyles Real Estate Team
Monday, July 14, 2008
FINTRAC
Here is a bit of interesting news about changes to the Real Estate Contract that all realtors and their clients are required fill out when buying or selling real estate in Canada
The Canadian Real Estate Association (CREA) has been working with both the Finance
Department and FINTRAC since 2005 to ensure it would be possible for REALTORS® to comply with the new Canadian law, and that the new regulations would not put REALTORS® at a business disadvantage in the buying and selling of real property.
This process included a number of meetings with Finance Minister Jim Flaherty and his staff,
officials of the Finance Department, and officials from FINTRAC. Because of significant concerns raised by CREA, and an impasse in discussions with government, in the Fall of 2007 the national Association initiated a REALTOR® “call-to-action” to raise awareness of the issues among members of Parliament. This resulted in a meeting with the Finance Minister, and redress on some significant concerns. PAC Reps were also asked to raise some of the Association’s objections during the annual visitation to MP offices on parliament hill in April.
The government is well aware that some of these new regulations represent major changes to
the process of buying and selling real estate in Canada. CREA received an interim response letter from Finance Minister Jim Flaherty dated May 15th, 2008, indicating the government would propose regulatory revisions addressing some of the Association’s concerns, especially those dealing with unrepresented parties in a transaction. In other words, changes would be made to the regulations after they came into effect. Please note the intent of those revisions has already been incorporated into this publication.
The specific regulations for the real estate sector for anti-money laundering and anti-terrorist
financing take effect on June 23rd, 2008. Criminal penalties for wilful non-compliance also take
effect in June, followed by the civil penalties, including administrative monetary penalties (AMPs) that take effect on December 31st, 2008. FINTRAC has assured CREA that enforcement of the new regulations will be gradually phased-in, and that considerable efforts will be made by the federal government to promote a better understanding of both money laundering risks and the new measures developed to combat them - as they did when the initial requirements became law in 2001. FINTRAC has also advised that criminal charges will only be imposed for repeated and deliberate or wilful non-compliance during this unofficial “phase-in” period.
Best Regards
The Debbie Simmonds Lifestyles Real Estate Team
The Canadian Real Estate Association (CREA) has been working with both the Finance
Department and FINTRAC since 2005 to ensure it would be possible for REALTORS® to comply with the new Canadian law, and that the new regulations would not put REALTORS® at a business disadvantage in the buying and selling of real property.
This process included a number of meetings with Finance Minister Jim Flaherty and his staff,
officials of the Finance Department, and officials from FINTRAC. Because of significant concerns raised by CREA, and an impasse in discussions with government, in the Fall of 2007 the national Association initiated a REALTOR® “call-to-action” to raise awareness of the issues among members of Parliament. This resulted in a meeting with the Finance Minister, and redress on some significant concerns. PAC Reps were also asked to raise some of the Association’s objections during the annual visitation to MP offices on parliament hill in April.
The government is well aware that some of these new regulations represent major changes to
the process of buying and selling real estate in Canada. CREA received an interim response letter from Finance Minister Jim Flaherty dated May 15th, 2008, indicating the government would propose regulatory revisions addressing some of the Association’s concerns, especially those dealing with unrepresented parties in a transaction. In other words, changes would be made to the regulations after they came into effect. Please note the intent of those revisions has already been incorporated into this publication.
The specific regulations for the real estate sector for anti-money laundering and anti-terrorist
financing take effect on June 23rd, 2008. Criminal penalties for wilful non-compliance also take
effect in June, followed by the civil penalties, including administrative monetary penalties (AMPs) that take effect on December 31st, 2008. FINTRAC has assured CREA that enforcement of the new regulations will be gradually phased-in, and that considerable efforts will be made by the federal government to promote a better understanding of both money laundering risks and the new measures developed to combat them - as they did when the initial requirements became law in 2001. FINTRAC has also advised that criminal charges will only be imposed for repeated and deliberate or wilful non-compliance during this unofficial “phase-in” period.
Best Regards
The Debbie Simmonds Lifestyles Real Estate Team
Saturday, July 12, 2008
Local Events
Looking for something fun to do with the whole family?! Why not check out some of these great community events!
July 26 Artisan’s in Waterwheel Park 10am-5pm Chemainus Chamber of Commerce (250) 246-3944
August 6,13 ,20 ,27 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
August 9Celebration - BC's 150th Birthday Bash Waterwheel Park. Chemainus Valley Cultural Society246-9102
September 3,10 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
September Silent Auction & Garage Sale in Waterwheel Parking Lot Chemainus Rotary Club Shannon (250) 246-2994
September 11 – October 25 The Miracle Worker by William Gibson Chemainus Theatre Festival (250) 246-9820
October 4 Harvest Moon Dance – Chemainus Legion Hall Fraternal Order of Eagles – Craig (250) 246-3947
October 5 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
November 2 Christmas Craft Show @ the Legion Hall 9am -2pm Royal Canadian Legion #191 –Ann (250) 246-4880
November 6 – December 28 Having Hope at Home by David S. Craig Chemainus Theatre Festival (250 246-9820
November 24Christmas Bazaar @ the Legion Hall Ladies Auxiliary
November 29Christmas Dinner Dance – Fuller Lake Activity Room Fraternal Order of Eagles – Merv (250) 246-3401
December 2 Golden Brush Community Awards @ the Theatre Chemainus Chamber of Commerce (250) 246-3944
December 6 Christmas Self Guided Walking Tour Gunnell (250) 246-2421
December 6 Chemainus Christmas Carol Ship – BC Ferries- Fraternal Order of Eagles (250) 246-3947
December 7 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
December 20 – January 3 KidzPlay Series – Rumpelstiltskin Chemainus Theatre Festival (250) 246-9820 out!
July 26 Artisan’s in Waterwheel Park 10am-5pm Chemainus Chamber of Commerce (250) 246-3944
August 6,13 ,20 ,27 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
August 9Celebration - BC's 150th Birthday Bash Waterwheel Park. Chemainus Valley Cultural Society246-9102
September 3,10 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
September Silent Auction & Garage Sale in Waterwheel Parking Lot Chemainus Rotary Club Shannon (250) 246-2994
September 11 – October 25 The Miracle Worker by William Gibson Chemainus Theatre Festival (250) 246-9820
October 4 Harvest Moon Dance – Chemainus Legion Hall Fraternal Order of Eagles – Craig (250) 246-3947
October 5 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
November 2 Christmas Craft Show @ the Legion Hall 9am -2pm Royal Canadian Legion #191 –Ann (250) 246-4880
November 6 – December 28 Having Hope at Home by David S. Craig Chemainus Theatre Festival (250 246-9820
November 24Christmas Bazaar @ the Legion Hall Ladies Auxiliary
November 29Christmas Dinner Dance – Fuller Lake Activity Room Fraternal Order of Eagles – Merv (250) 246-3401
December 2 Golden Brush Community Awards @ the Theatre Chemainus Chamber of Commerce (250) 246-3944
December 6 Christmas Self Guided Walking Tour Gunnell (250) 246-2421
December 6 Chemainus Christmas Carol Ship – BC Ferries- Fraternal Order of Eagles (250) 246-3947
December 7 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
December 20 – January 3 KidzPlay Series – Rumpelstiltskin Chemainus Theatre Festival (250) 246-9820 out!
Friday, July 11, 2008
Ottawa revamps mortgage rules
KEVIN CARMICHAEL
Globe and Mail Update, Reuters
July 9, 2008 at 4:36 PM EDT
OTTAWA — The federal government says it will no longer guarantee 40-year mortgages, one of a handful of measures aimed at guarding against a U.S.-style housing bubble.
The Finance Department said Wednesday in a news release that the government will guarantee no mortgages with durations longer than 35 years. The government also will demand a minimum down payment equal to 5 per cent of the value of the home.
“Today's announcement marks a responsible and measured approach by the government to ensure Canada's housing market remains strong and to reduce the risk of a U.S.-style housing bubble developing in Canada,” the Finance Department said.
The government hastened to emphasize that Canada's housing and mortgage markets were performing much better than in the United States.
Canadian housing prices are in line with economic factors such as low interest rates, rising incomes and a growing population and the demand for residential housing remains buoyant at more than 200,000 housing starts a year, it said.
The percentage of bank mortgages in arrears is also stable at 0.27 per cent, the lowest levels experienced since 1990 and well below the highs of 0.65 per cent in 1992 and 1997.
“The historically prudent and cautious approach taken by Canadian financial institutions to mortgage lending, combined with a sound supervisory regime, has allowed Canada to maintain strong and secure housing and mortgage markets,” it said.
It nonetheless noted “accelerated financial innovation” in the mortgage markets since the fall of 2006, for example, allowing loans up to 100 per cent of the value of the house and increasing amortization periods to 40 years from 25 years.
The government will now require a consistent credit score for mortgages it backs, and a minimum level of loan documentation standards to ensure evidence of the reasonableness of property values and the borrowers' income.
In addition, government guarantees will not be allowed for high-ratio mortgages where amortization is not required in the first few years – e.g., mortgages that begin with interest-only payments.
Finally, it will set a maximum of 45 per cent on a borrower's debt-service ratio – the proportion of gross income that is spent on debt service and housing-related fixed or essential payments.
Globe and Mail Update, Reuters
July 9, 2008 at 4:36 PM EDT
OTTAWA — The federal government says it will no longer guarantee 40-year mortgages, one of a handful of measures aimed at guarding against a U.S.-style housing bubble.
The Finance Department said Wednesday in a news release that the government will guarantee no mortgages with durations longer than 35 years. The government also will demand a minimum down payment equal to 5 per cent of the value of the home.
“Today's announcement marks a responsible and measured approach by the government to ensure Canada's housing market remains strong and to reduce the risk of a U.S.-style housing bubble developing in Canada,” the Finance Department said.
The government hastened to emphasize that Canada's housing and mortgage markets were performing much better than in the United States.
Canadian housing prices are in line with economic factors such as low interest rates, rising incomes and a growing population and the demand for residential housing remains buoyant at more than 200,000 housing starts a year, it said.
The percentage of bank mortgages in arrears is also stable at 0.27 per cent, the lowest levels experienced since 1990 and well below the highs of 0.65 per cent in 1992 and 1997.
“The historically prudent and cautious approach taken by Canadian financial institutions to mortgage lending, combined with a sound supervisory regime, has allowed Canada to maintain strong and secure housing and mortgage markets,” it said.
It nonetheless noted “accelerated financial innovation” in the mortgage markets since the fall of 2006, for example, allowing loans up to 100 per cent of the value of the house and increasing amortization periods to 40 years from 25 years.
The government will now require a consistent credit score for mortgages it backs, and a minimum level of loan documentation standards to ensure evidence of the reasonableness of property values and the borrowers' income.
In addition, government guarantees will not be allowed for high-ratio mortgages where amortization is not required in the first few years – e.g., mortgages that begin with interest-only payments.
Finally, it will set a maximum of 45 per cent on a borrower's debt-service ratio – the proportion of gross income that is spent on debt service and housing-related fixed or essential payments.
Thursday, July 10, 2008
What is the Ideal Selling Price for your House?
“How much can we get for our house?” That’s often the first question asked when putting a house on the market.
Obviously, you want to get the most money possible for your house. But if you set your price too high you’ll scare off potential buyer- and their agent! If you set your price too low you’ll be leaving money on the table. People might also reasonably assume that there’s something wrong with the property. “Why the low selling price?”
Ideally, the selling price should reflect the market value of your house, and should be influenced by how quickly you want to sell it.
What is market value?
It’s simply the price that potential home buyers are willing to pay for a home like yours in your neighbourhood.
Your agent should suggest an asking price for you house based on market research. The analysis should include sales of properties in your area that are similar to your-taking into account the number of rooms. Lot size square footage, special features (such as pools), etc.-and provide a comparison.
For example, if your house has two storeys with three bedrooms and a finished basement the research should include other houses in your neighbourhood with the same features. If these houses sold for an average of $245,000, then it’s a good bet that potential buyers would be willing to pay that much for your house.
An agent will try to find at least three recent house sales in your neighbourhood. (The more recent the better, as home prices can fluctuate.)
Don’t take it personally.
Market value doesn’t take into account any emotional attachment you may have to any particular feature of your house. You may look at your backyard garden with pride and remember the many hours of hard work you spent planning, planting and nurturing. But, no matter how much more valuable you think the garden makes your house. It is still only worth whatever someone else is willing to pay for it.
Need help setting the ideal price for your house, so it sells quickly and for the highest possible price? Call today.
Obviously, you want to get the most money possible for your house. But if you set your price too high you’ll scare off potential buyer- and their agent! If you set your price too low you’ll be leaving money on the table. People might also reasonably assume that there’s something wrong with the property. “Why the low selling price?”
Ideally, the selling price should reflect the market value of your house, and should be influenced by how quickly you want to sell it.
What is market value?
It’s simply the price that potential home buyers are willing to pay for a home like yours in your neighbourhood.
Your agent should suggest an asking price for you house based on market research. The analysis should include sales of properties in your area that are similar to your-taking into account the number of rooms. Lot size square footage, special features (such as pools), etc.-and provide a comparison.
For example, if your house has two storeys with three bedrooms and a finished basement the research should include other houses in your neighbourhood with the same features. If these houses sold for an average of $245,000, then it’s a good bet that potential buyers would be willing to pay that much for your house.
An agent will try to find at least three recent house sales in your neighbourhood. (The more recent the better, as home prices can fluctuate.)
Don’t take it personally.
Market value doesn’t take into account any emotional attachment you may have to any particular feature of your house. You may look at your backyard garden with pride and remember the many hours of hard work you spent planning, planting and nurturing. But, no matter how much more valuable you think the garden makes your house. It is still only worth whatever someone else is willing to pay for it.
Need help setting the ideal price for your house, so it sells quickly and for the highest possible price? Call today.
Wednesday, July 9, 2008
Be Sensible when it comes to Scents
Sniff, sniff. “What is that smell?”
That is definitely not the reaction you want a potential buyer to have when they view your house.
The problem with common household scent-from family pets, favourite cooking styles, smoking, or even hobbies such as model-making-is that we get accustomed to them. However, someone who enters the house for the first time will notice these aromas right away.
So before a viewing appointment or open house, be sure household scents are under control. A good airing usually does the trick.
That is definitely not the reaction you want a potential buyer to have when they view your house.
The problem with common household scent-from family pets, favourite cooking styles, smoking, or even hobbies such as model-making-is that we get accustomed to them. However, someone who enters the house for the first time will notice these aromas right away.
So before a viewing appointment or open house, be sure household scents are under control. A good airing usually does the trick.
Local Events
Looking for something fun to do with the whole family?! Why not check out some of these great community events!
August 6,13 ,20 ,27 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
August 9Celebration - BC's 150th Birthday Bash Waterwheel Park. Chemainus Valley Cultural Society246-9102
September 3,10 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
September Silent Auction & Garage Sale in Waterwheel Parking Lot Chemainus Rotary Club Shannon (250) 246-2994
September 11 – October 25 The Miracle Worker by William Gibson Chemainus Theatre Festival (250) 246-9820
October 4 Harvest Moon Dance – Chemainus Legion Hall Fraternal Order of Eagles – Craig (250) 246-3947
October 5 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
November 2 Christmas Craft Show @ the Legion Hall 9am -2pm Royal Canadian Legion #191 –Ann (250) 246-4880
November 6 – December 28 Having Hope at Home by David S. Craig Chemainus Theatre Festival (250 246-9820
November 24Christmas Bazaar @ the Legion Hall Ladies Auxiliary
November 29Christmas Dinner Dance – Fuller Lake Activity Room Fraternal Order of Eagles – Merv (250) 246-3401
December 2 Golden Brush Community Awards @ the Theatre Chemainus Chamber of Commerce (250) 246-3944
December 6 Christmas Self Guided Walking Tour Gunnell (250) 246-2421
December 6 Chemainus Christmas Carol Ship – BC Ferries- Fraternal Order of Eagles (250) 246-3947
December 7 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
December 20 – January 3 KidzPlay Series – Rumpelstiltskin Chemainus Theatre Festival (250) 246-9820 out!
August 6,13 ,20 ,27 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
August 9Celebration - BC's 150th Birthday Bash Waterwheel Park. Chemainus Valley Cultural Society246-9102
September 3,10 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
September Silent Auction & Garage Sale in Waterwheel Parking Lot Chemainus Rotary Club Shannon (250) 246-2994
September 11 – October 25 The Miracle Worker by William Gibson Chemainus Theatre Festival (250) 246-9820
October 4 Harvest Moon Dance – Chemainus Legion Hall Fraternal Order of Eagles – Craig (250) 246-3947
October 5 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
November 2 Christmas Craft Show @ the Legion Hall 9am -2pm Royal Canadian Legion #191 –Ann (250) 246-4880
November 6 – December 28 Having Hope at Home by David S. Craig Chemainus Theatre Festival (250 246-9820
November 24Christmas Bazaar @ the Legion Hall Ladies Auxiliary
November 29Christmas Dinner Dance – Fuller Lake Activity Room Fraternal Order of Eagles – Merv (250) 246-3401
December 2 Golden Brush Community Awards @ the Theatre Chemainus Chamber of Commerce (250) 246-3944
December 6 Christmas Self Guided Walking Tour Gunnell (250) 246-2421
December 6 Chemainus Christmas Carol Ship – BC Ferries- Fraternal Order of Eagles (250) 246-3947
December 7 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
December 20 – January 3 KidzPlay Series – Rumpelstiltskin Chemainus Theatre Festival (250) 246-9820 out!
Tuesday, July 8, 2008
The Relationship Between the Rising Price of Oil and Gas and Real Estate - Part 3
This week we are on a discovery of how increasing oil and gas prices are effecting real estate from a design perspective. More and more we are seeing a concern for maintaining large homes and the associated energy costs. There is more pressure on developers, designers and builders to provide less square footage.
We will see, and are already in some cases, a demand for smaller, more efficient floor plans. That means much more open floor plans with very little space wasted in hallways. This also means one eating area instead of our traditional formal dining room and informal nook. Instead we will see one dining area that can be dressed up for formal occasions, or dressed down for informal ones.
It means smaller room sizes over all, as well as rooms that will be multi-purposed. An example of this would be a secondary bedroom also acting as a media room and home office by using innovative accessories such as a Murphy bed wall unit that encompasses the guest bed and home entertainment wall unit, as well as desk and filing cabinet drawers.
In this respect we have much to learn from population dense countries such as Japan as regards their architecture and design which are traditionally much more compact than ours.
Best Regards,
The Debbie Simmonds Lifestyles Real Estate Team
We will see, and are already in some cases, a demand for smaller, more efficient floor plans. That means much more open floor plans with very little space wasted in hallways. This also means one eating area instead of our traditional formal dining room and informal nook. Instead we will see one dining area that can be dressed up for formal occasions, or dressed down for informal ones.
It means smaller room sizes over all, as well as rooms that will be multi-purposed. An example of this would be a secondary bedroom also acting as a media room and home office by using innovative accessories such as a Murphy bed wall unit that encompasses the guest bed and home entertainment wall unit, as well as desk and filing cabinet drawers.
In this respect we have much to learn from population dense countries such as Japan as regards their architecture and design which are traditionally much more compact than ours.
Best Regards,
The Debbie Simmonds Lifestyles Real Estate Team
Saturday, July 5, 2008
Local Events
Looking for something fun to do with the whole family?! Why not check out some of these great community events!
July 5 Pancake Breakfast @ the Legion Hall 7am-11am Royal Canadian Legion #191 Ann (250) 246-4880
July 5Huge Street Market Sale - Willow Street 8am-4pm Chemainus Chamber of Commerce (250) 246-3944
July 5 Strawberry Tea in the garden @ St. Michael's Church10am-2pm St Michael’s Church (250) 246-4470
July 9 – August 30KidzPlay Series – Treasure Tales Chemainus Theatre Festival (250) 246-9820
July 19 - 2nd Annual Cowichan Valley Fire Safety Fair held in Lordco Parking Lot from 10am -4pm FREE ADMISSION!!
July 26 Artisan’s in Waterwheel Park 10am-5pm Chemainus Chamber of Commerce (250) 246-3944
August 6,13 ,20 ,27 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
August 9Celebration - BC's 150th Birthday Bash Waterwheel Park. Chemainus Valley Cultural Society246-9102
September 3,10 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
September Silent Auction & Garage Sale in Waterwheel Parking Lot Chemainus Rotary Club Shannon (250) 246-2994
September 11 – October 25 The Miracle Worker by William Gibson Chemainus Theatre Festival (250) 246-9820
October 4 Harvest Moon Dance – Chemainus Legion Hall Fraternal Order of Eagles – Craig (250) 246-3947
October 5 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
November 2 Christmas Craft Show @ the Legion Hall 9am -2pm Royal Canadian Legion #191 –Ann (250) 246-4880
November 6 – December 28 Having Hope at Home by David S. Craig Chemainus Theatre Festival (250 246-9820
November 24Christmas Bazaar @ the Legion Hall Ladies Auxiliary
November 29Christmas Dinner Dance – Fuller Lake Activity Room Fraternal Order of Eagles – Merv (250) 246-3401
December 2 Golden Brush Community Awards @ the Theatre Chemainus Chamber of Commerce (250) 246-3944
December 6 Christmas Self Guided Walking Tour Gunnell (250) 246-2421
December 6Chemainus Christmas Carol Ship – BC Ferries- Fraternal Order of Eagles (250) 246-3947
December 7Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
December 20 – January 3 KidzPlay Series – Rumpelstiltskin Chemainus Theatre Festival (250) 246-9820 out!
July 5 Pancake Breakfast @ the Legion Hall 7am-11am Royal Canadian Legion #191 Ann (250) 246-4880
July 5Huge Street Market Sale - Willow Street 8am-4pm Chemainus Chamber of Commerce (250) 246-3944
July 5 Strawberry Tea in the garden @ St. Michael's Church10am-2pm St Michael’s Church (250) 246-4470
July 9 – August 30KidzPlay Series – Treasure Tales Chemainus Theatre Festival (250) 246-9820
July 19 - 2nd Annual Cowichan Valley Fire Safety Fair held in Lordco Parking Lot from 10am -4pm FREE ADMISSION!!
July 26 Artisan’s in Waterwheel Park 10am-5pm Chemainus Chamber of Commerce (250) 246-3944
August 6,13 ,20 ,27 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
August 9Celebration - BC's 150th Birthday Bash Waterwheel Park. Chemainus Valley Cultural Society246-9102
September 3,10 Wednesday Evening Market in Waterwheel Park Chemainus Chamber of Commerce (250) 246-3944
September Silent Auction & Garage Sale in Waterwheel Parking Lot Chemainus Rotary Club Shannon (250) 246-2994
September 11 – October 25 The Miracle Worker by William Gibson Chemainus Theatre Festival (250) 246-9820
October 4 Harvest Moon Dance – Chemainus Legion Hall Fraternal Order of Eagles – Craig (250) 246-3947
October 5 Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
November 2 Christmas Craft Show @ the Legion Hall 9am -2pm Royal Canadian Legion #191 –Ann (250) 246-4880
November 6 – December 28 Having Hope at Home by David S. Craig Chemainus Theatre Festival (250 246-9820
November 24Christmas Bazaar @ the Legion Hall Ladies Auxiliary
November 29Christmas Dinner Dance – Fuller Lake Activity Room Fraternal Order of Eagles – Merv (250) 246-3401
December 2 Golden Brush Community Awards @ the Theatre Chemainus Chamber of Commerce (250) 246-3944
December 6 Christmas Self Guided Walking Tour Gunnell (250) 246-2421
December 6Chemainus Christmas Carol Ship – BC Ferries- Fraternal Order of Eagles (250) 246-3947
December 7Flea Market @ the Legion Hall 9am-2pm Royal Canadian Legion #191 Ann (250) 246-4880
December 20 – January 3 KidzPlay Series – Rumpelstiltskin Chemainus Theatre Festival (250) 246-9820 out!
Thursday, July 3, 2008
Top 10 Reasons to Use a Broker vs a Bank
Top 10 Reasons to Use a Broker vs a Bank
1. A mortgage broker works for YOU, the client, whereas Bank Specialists are employed by a financial institution.
2. If you approach a few banks to shop for the best deal, each bank you visit will pull a credit bureau on you. Each time a credit inquiry is made on your credit bureau, it begins to deteriorate your precious credit rating. Your broker pulls only one single credit report on you and submits it to dozens of different lenders on your behalf. This protects you from bruising your credit rating.
3. The benefit of using a Mortgage Broker is the fact that they have the ability to offer you mortgage products from multiple lenders. Bank Specialists work for one bank which means they can only offer their clients what their financial institution has to offer.
4. For conventional mortgage financing, the services of the Mortgage Broker are generally provided at no cost to the client. We are paid by the lenders for providing business to them.
5. Mortgage Brokers do not work for one specific lender, and you are assured impartial advice. A Bank Specialist has a limited number of their own financial products, and while there may be better mortgage products out in the market place, they will do their best to sell you their own mortgage product.
6. Mortgage Brokers provide personal service, usually at times convenient for their clients. Mortgage Brokers are not restricted in seeing clients within certain business hours.
7. Brokers are typically paid the same amount no matter what rate is offered to the client. Bank Specialists' rate of pay is generally reduced in direct relation to the amount they discount your rate from the bank's posted rate.
8. Depending on your Province, Mortgage Brokers must be licensed and are subject to a strict set of requirements. Accredited Mortgage Professionals (AMP) must take continuing education courses in order to maintain their accreditation. Bank specialists are not licensed and require no formal training.
9. Mortgage Brokers use their knowledge and experience to negotiate the best possible rate and product for you from a number of lenders. When you see a Bank Specialist, that mortgage negotiating is typically left up to you.
10. Mortgage Brokers are customer focused, as they rely on referrals form previous clients to provide future business.
Allyson Foulis 746-5924
Cheryl Leukefeld 701-3978
1. A mortgage broker works for YOU, the client, whereas Bank Specialists are employed by a financial institution.
2. If you approach a few banks to shop for the best deal, each bank you visit will pull a credit bureau on you. Each time a credit inquiry is made on your credit bureau, it begins to deteriorate your precious credit rating. Your broker pulls only one single credit report on you and submits it to dozens of different lenders on your behalf. This protects you from bruising your credit rating.
3. The benefit of using a Mortgage Broker is the fact that they have the ability to offer you mortgage products from multiple lenders. Bank Specialists work for one bank which means they can only offer their clients what their financial institution has to offer.
4. For conventional mortgage financing, the services of the Mortgage Broker are generally provided at no cost to the client. We are paid by the lenders for providing business to them.
5. Mortgage Brokers do not work for one specific lender, and you are assured impartial advice. A Bank Specialist has a limited number of their own financial products, and while there may be better mortgage products out in the market place, they will do their best to sell you their own mortgage product.
6. Mortgage Brokers provide personal service, usually at times convenient for their clients. Mortgage Brokers are not restricted in seeing clients within certain business hours.
7. Brokers are typically paid the same amount no matter what rate is offered to the client. Bank Specialists' rate of pay is generally reduced in direct relation to the amount they discount your rate from the bank's posted rate.
8. Depending on your Province, Mortgage Brokers must be licensed and are subject to a strict set of requirements. Accredited Mortgage Professionals (AMP) must take continuing education courses in order to maintain their accreditation. Bank specialists are not licensed and require no formal training.
9. Mortgage Brokers use their knowledge and experience to negotiate the best possible rate and product for you from a number of lenders. When you see a Bank Specialist, that mortgage negotiating is typically left up to you.
10. Mortgage Brokers are customer focused, as they rely on referrals form previous clients to provide future business.
Allyson Foulis 746-5924
Cheryl Leukefeld 701-3978
Wednesday, July 2, 2008
Staging helps sell houses
Staging a house to sell is becoming all the rage. And more and more people appear to be turning to a real estate stager or home show caser for help.
It’s all about showcasing a home so it will sell fast and for top dollar. Basically In home staging what you want to do is highlight the architectural selling features of the home,” Val Sharp, president of the Canadian Redesigners Association, said in a telephone interview from her Victoria home. “So you place the furniture, hang the art and use accessories to do that,” She said. When successfully staged, a home becomes more appealing to a wider range of potential buyers. The difference between a redesigner and a home stager, Sharp explains, is that redesigners create a home that the people who live there will love, while the focus of a home stager is to create a home to sell.
Most makeovers-whether they’re a redesign or a home staging-are done quickly, usually in only a day or two. Nancy Poulin of Regina offers the following tips to help homeowners make the most of their home’s appearance:
· Hang artwork properly, or the room will look off balance. Most people hang things too high. “Artwork in a room should be hung closest to eye level for the activity that’s being done in that room,” Poulin says.
· Use mirrors to help open up a space and make it look larger.
· To make a hallway seem wider, paint one wall a shade darker than the other.
· Spray lemon or orange-scented furniture polish on a surface close to the entrance so potential buyers are greeted with a pleasant, fresh. Clean smell when they enter the home. “Don’t spray anything too perfumy, or they will be wondering what you’re trying to hide,” she cautioned.
· It’s never good to show a vacant house. Rent furniture and accessories, if necessary.
Staging a home can get better results, faster, Poulin says. But the house has to be priced reasonably, as well.
“No matter how much staging you do, if you are asking way over the market price, it’s going to take longer to sell,” she says.
It’s all about showcasing a home so it will sell fast and for top dollar. Basically In home staging what you want to do is highlight the architectural selling features of the home,” Val Sharp, president of the Canadian Redesigners Association, said in a telephone interview from her Victoria home. “So you place the furniture, hang the art and use accessories to do that,” She said. When successfully staged, a home becomes more appealing to a wider range of potential buyers. The difference between a redesigner and a home stager, Sharp explains, is that redesigners create a home that the people who live there will love, while the focus of a home stager is to create a home to sell.
Most makeovers-whether they’re a redesign or a home staging-are done quickly, usually in only a day or two. Nancy Poulin of Regina offers the following tips to help homeowners make the most of their home’s appearance:
· Hang artwork properly, or the room will look off balance. Most people hang things too high. “Artwork in a room should be hung closest to eye level for the activity that’s being done in that room,” Poulin says.
· Use mirrors to help open up a space and make it look larger.
· To make a hallway seem wider, paint one wall a shade darker than the other.
· Spray lemon or orange-scented furniture polish on a surface close to the entrance so potential buyers are greeted with a pleasant, fresh. Clean smell when they enter the home. “Don’t spray anything too perfumy, or they will be wondering what you’re trying to hide,” she cautioned.
· It’s never good to show a vacant house. Rent furniture and accessories, if necessary.
Staging a home can get better results, faster, Poulin says. But the house has to be priced reasonably, as well.
“No matter how much staging you do, if you are asking way over the market price, it’s going to take longer to sell,” she says.
Tuesday, July 1, 2008
The Relationship Between the Rising Price of Oil and Gas and Real Estate - Part 2
Today we would like to discuss how oil and gas prices will impact heating systems in new home construction, and also in converting heating systems of older homes to more energy efficient technologies.
As of late heating systems have been much more prevalent in my conversations with Buyers as they are weighing all of their options. With rising gas and food prices, home heating and cooling costs are more significant in the minds of Buyers. Already for the past year or more builders are putting in heat pumps with electric forced are furnaces in the higher end homes. This is by far, according to heating contractors, the most cost effective technology available to consumers today for heating and cooling. I am already making significant adjustments when I am analyzing homes for the purpose of Comparative Market Analyses based on their energy efficiency. Of course those homes with heat pumps deserve a significant credit as opposed to those that are much less energy efficient.
There is also the option of installing electric baseboard heating in rooms that are remote from the main core of the house, or are seldom used so that they are kept at a
minimal temperature except when in use.
For older homes or those with relatively inefficient heating systems, upgrading to a heat pump can be challenging. If a ducting system already exists throughout the home, it is a much easier conversion as the furnace and ducting are already in place, and therefore it is a much simpler process to install a heat pump unit.
However, in homes with electric baseboard heating, or in-floor or radiant heating, there are no ducts. This becomes a major project where head room, walls, valances etc. become strategic problems as an entire ducting system must be installed. In this scenario the home owner must be careful to calculate what energy cost savings may be recovered taking into account anticipated rate increases, versus the cost of the improvement. One should also consider the added market value, and how long they intend to stay in the house to reap that incremental market value.
Best Regards,
The Debbie Simmonds Lifestyles Real Estate Team
As of late heating systems have been much more prevalent in my conversations with Buyers as they are weighing all of their options. With rising gas and food prices, home heating and cooling costs are more significant in the minds of Buyers. Already for the past year or more builders are putting in heat pumps with electric forced are furnaces in the higher end homes. This is by far, according to heating contractors, the most cost effective technology available to consumers today for heating and cooling. I am already making significant adjustments when I am analyzing homes for the purpose of Comparative Market Analyses based on their energy efficiency. Of course those homes with heat pumps deserve a significant credit as opposed to those that are much less energy efficient.
There is also the option of installing electric baseboard heating in rooms that are remote from the main core of the house, or are seldom used so that they are kept at a
minimal temperature except when in use.
For older homes or those with relatively inefficient heating systems, upgrading to a heat pump can be challenging. If a ducting system already exists throughout the home, it is a much easier conversion as the furnace and ducting are already in place, and therefore it is a much simpler process to install a heat pump unit.
However, in homes with electric baseboard heating, or in-floor or radiant heating, there are no ducts. This becomes a major project where head room, walls, valances etc. become strategic problems as an entire ducting system must be installed. In this scenario the home owner must be careful to calculate what energy cost savings may be recovered taking into account anticipated rate increases, versus the cost of the improvement. One should also consider the added market value, and how long they intend to stay in the house to reap that incremental market value.
Best Regards,
The Debbie Simmonds Lifestyles Real Estate Team
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