Real Estate News
Question: We bought our house a couple of years ago, when the stock market was high and we thought we were flush with cash. Now, however, I have lost my job, and am a couple of months behind in my mortgage payments. I have started to get "dunning letters" from my mortgage lender, and just do not know what to do -- or where to turn.
America"s going to war and many of our reservists and active enlisted now have a new financial friend -- the Soldiers" and Sailors" Civil Relief Act of 1940Soldiers" and Sailors" Civil Relief Act. If you"ve been listening to the news lately, you"ve heard the highlights of this Act, which was last amended in 1991 during Desert Storm.
The last recession seen in the U.S. was in 1991, a decade ago. As a nation we"ve done so well for so long it"s sometimes hard to remember that prices can fall, people who don"t work for dot-coms can get laid-off, and the world is a dangerous place.
The FBI is planning to seek an indictment in what could amount to a $30 million case of fraud involving a mortgage lender in Charlotte. And in Cleveland, 225 federal agents recently raided two dozen homes and businesses as part of investigation into allegations of mortgage fraud, money laundering and racketeering.
The Bush administration has unveiled its first major assault against predatory mortgage lending: A cut-off of Federal Housing Administration (FHA) mortgage insurance for property "flippers." Under a proposed rule published last week, FHA insurance no longer would be available on houses sold within six months of acquisition by the seller.
Superior Bank probably won"t be the only thrift institution with a high concentration of subprime mortgages to go under, a key government official warned last week.
It"s tough to pick a loan. There are many mortgage programs -- I"ve got access to about 70 -- and innumerable combinations of rates, points, and terms. And to further confuse the process, different loans have different documentation requirements, some of which require more paperwork than an IRS audit.
Unscrupulous lenders are cheating home owners out of an estimated $9.1 billion a year, the Senate Banking Committee was told yesterday.
As if finding a mortgage isn"t difficult enough, imagine if your faith forbade purchasing a house with an interest-bearing loan? For Muslims, this is the quandary in which they find themselves if they desire to finance or refinance a house.
Canada Mortgage and Housing Corporation (CMHC) reports the successful launch of Canada Mortgage Bonds, a new investment product which this federal agency describes as the latest evolution in mortgage funding and a significant further expansion of Canada"s secondary mortgage market.
For investors looking to pick up and rehab houses for quick resales, the rules in today"s tough market are very different from a few years back.
A good friend of mine -- a tad bit older but not by much -- called the other day and said he was thinking about buying a vacation home. More than that, he said it would be considered a second home for now but he would soon retire and then it would be his primary residence.
Could Fannie Mae"s controversial decision to allow some lenders to check just one credit bureau file on mortgage applicants -- instead of the current, mandatory three -- affect your ability to qualify for a home loan?
Question: Our budget process takes place in the fall so we will have an approved budget at least 30 days prior to the start of our fiscal year which begins in January. As it turns out, we hold our annual meeting in January and a new board will be elected then. All of our contracts expire next year. Should the current board review, renew and/or secure new bids for our contracted services as part of the budget process or wait for the new board to build its own budget?
I hear this often when discussing loan programs with clients, "David, there"s no prepayment penalty on this loan is there?" Usually, no, but there may be times when a prepayment penalty makes sense.
Consumers used to be somewhat restricted just a few years ago when it came to finding mortgage lenders, especially when compared with today"s standards. Back then, a borrower would be able to compare interest rates in a newspaper advertisement or spend the day on the phone "dialing for rates."
With the holidays just around the corner, you better get busy shopping. Here"s a short wish-list of this years must-have gadgets and gizmos for the home. These modern gifts are sure to get your motor running while also enhancing the functionality and livability of your household.
Let"s talk about scripts. I think they have a place in the human experience -- we all use scripts every day, in both our personal and business lives. "Hi, how are you?" is a script, as is "Hi, this is Jennifer Allan with RE/MAX City Horizons; I"d like to set a showing… ." I use essentially the same script every time I go through a purchase contract with a buyer or a listing agreement with a seller. When I finish up a day of showing, I always say "So, that"s our show for today - how did we do?"
Interest Rate Activity During The Past Week
Interest Rate Activity During The Past Week
Probably few subjects in real estate raise more questions or generate more confusion than the matter of private mortgage insurance, or PMI.
It took six years and major controversies with Capitol Hill, but last Thursday HUD published final regulations mandating uniform disclosures for all new home mortgages -- plus tougher rules requiring "good faith estimates" from lenders that accurately reflect the line items on consumers" settlement sheets at the end of a home purchase or refinancing.
One of the best ways to have more cash, retire early, and enjoy debt-free living is to prepay your mortgage, an option which even lenders increasingly applaud.
What ever happened to the man dressed in his Sunday best, hat in hand, being
There"s been a lot in the news lately about predatory lenders. But how easy are they to spot and what tactics do they typically use to capture and take advantage of unwitting mortgage consumers?
The 15-year FRM this week averaged 5.81 percent with an average 0.7 point, down from last week when it averaged 5.88 percent. A year ago at this time, the 15-year FRM averaged 5.88 percent.
As interest rates bounce up and down, some savvy borrowers are enjoying the down side.
Long live the Information Age.
You"re shopping for a mortgage and you contact a lender advertising competitive interest rates. You"re told that while the lowest rate is no longer available, you might qualify for a loan at a bit higher interest rate that has a prepayment penalty built in. You decline; but are amazed when the lender calls back in two hours to offer you a competitive interest-rate loan without a prepayment penalty.
"Manage the Mortgage Monster Before It Mangles You”
SAN JOSE, CA -- There"s a hard and time-worn lesson to be learned from a recent court settlement with an Irvine, CA-based mortgage company charged with failing to disclose excessive fees.
An experimental construction-to-permanent lending package intended to serve the growing market of buyers who hire contractors to put up primary or secondary residences of their own lots is being turned into a standard mortgage menu item.
SAN JOSE, CA -- First-time home buyers should avoid mortgage Web sites -- except for their rate comparison and educational features.
ARMs are back.
The economy is booming.So is your debt.
Peter G. Miller
The NAR, which has been forecasting interest rates as low as 6.0 percent by the end of 1999, has begun acknowledging the federal reserve"s upward push and now concedes it is possible that rates will hover above 7 percent until the end of the year. NAR economists, however, are not unanimous in that view.
Peter G. Miller
Peter G. Miller
Yes, it"s always better to have a lower interest rate on
Right now, with interest rates at their lowest levels in decades, most
Difference?
Peter G. Miller
Peter G. Miller
In California earlier this month, local police said a 79-year-old Los Altos woman was scammed out of more than a quarter million dollars. She acquired $250,000 through an equity loan on her home after repeated telephone calls from a grifter in Canada persuaded her to invest in bogus New York real estate. Money in hand, the faux financial consultant never called back.
Even if you aren"t handy, there are everyday situations that require a hammer, a screwdriver, a tape measure, or a saw.
President Bush has proposed -- once again -- major tax reforms. And with a friendly Congress, it appears likely that some form of tax legislation will be enacted early this year. Indeed, there is even talk of making some of the tax laws retroactive, which will make it even more difficult for most taxpayers to prepare and file their income tax return.
Any homeowner association can become depressed, listless and out of sorts. Good health is often only a prescription away. Here are some that can improve the overall health and happiness of your community.
The glorious new tub, the beautiful new fixtures, and the sleek countertops
The IRS has just nailed down its definitions for the most basic form of real estate--your "principal" home. In regulations issued Christmas Eve, the agency made clear that for tax purposes, your principal home can take a variety of shapes.
With the thick of winter here, you may be experiencing leaking or drafty
As you trim your tree, hang the lights, and wrap your gifts, you"ll want to
Many real estate agents place advertising that emphasizes their community activities, charitable involvements, educational achievements, and professional affiliations. That is all well and good; but, certainly, the thing that most consumers are most interested in has to do with sales. "How many homes have you sold?" "Where?" "In what price range?" etc.
As we all know, many rookie agents are woefully unprepared for the realities of their new career. They’re told to “fake it ‘til you make it” and sent out into the world to generate business for themselves before they even spell “MLS!”
BNI is a group I work with here in Atlanta, and is best known for generating referrals amongst its members. In other words, 20 or so entrepreneurs get together on a weekly basis with the sole intent of developing relationships, and passing referrals to members based on the contacts those individuals have in the local business community.
I’ve been doing a little private SOI (Sphere of Influence) tutoring with some local Denver agents.
Though all the media attention this week is on the presidential and congressional elections, behind the scenes in Washington there are huge pressures building on Congressional Democrats and on the lame duck Bush administration to pull together a second economic stimulus package -- quickly.
"Dear Jennifer,
Sometimes when you see a doctor about a particular ailment, the diagnosis and treatment you receive depend on the doctor you see. Visit your family doctor about back pain, and she"s likely to prescribe a pain reliever and perhaps a muscle relaxant or anti-inflammatory medication. Consult a chiropractor, and he schedules you for adjustments. A psychiatrist may think your back pain has something to do with your repressed childhood memories. A neurologist may trace the problem back to a pinched nerve. The same thing seems to happen when homeowners in default consult experts for advice:
A Champion accepts nothing less than excellence. When you look at successful individuals and successful companies, good is not good enough. They are clearly striving for excellence. In Jim Collins" best selling book, Good to Great, one of his premises is that good is really the enemy of great; that if we are willing to settle for good, we will never achieve greatness. I agree that to hit the Champion level as an Agent, you can"t be satisfied with mid-level skills, abilities, and mindset. You must resolve to raise your level of expectation and performance, first for yourself and then for your staff, to the predetermined Champion level.
Let"s start with the bottom line first: The whole purpose of a prospect presentation is to establish your competitive advantage. In the least time possible you want to communicate what makes you different from the more than 1.2 million other licensed Realtors in the United States. You want your prospects to see exactly why they should hire you, what"s in it for them, and why they should proceed with confidence to sign your listing agreement.
As a self-professed introvert (and proud of it), articles about the introvert experience frequently catch my eye. Unfortunately, so many of them center around "curing" introversion or "overcoming" introversion or "succeeding in spite of" introversion, especially when the topic in question is a career in sales.
Recently, California Real Estate Commissioner, Jeff Davi, observed that a down market brings out the scammers. He is right. We have already, in the past months, become familiar with "foreclosure rescue" scams, "short sale facilitation" scams, and "loan modification" scams. Now, a recent memo from the California Association of Realtors® alerts us to "property tax reduction" scams. These are private companies -- often posing as governmental agencies -- who will charge property owners for filing a tax assessment appeal. It is enough of a problem that the Los Angeles County Tax Assessor has posted a warning about it on his web site.
Here’s the situation: A beleaguered home owner is in bankruptcy, overwhelmed by debt. The mortgage lender had begun foreclosure proceedings, but they were stayed by the bankruptcy court. That stay, however, is about to end, and the lender may be allowed to proceed. The owner owes the mortgage lender about $170,000. Another $50,000 (representing 13 cents on the dollar) is owed to unsecured creditors under the approved bankruptcy plan.
"Defaulting on the Dream: States Respond to America"s Foreclosure Crisis" is a must read for home owners struggling with their mortgage.
To be successful in life we have to have a standard or system for decisions. Most of us are faced with more decisions in a day than we care to make. We often are hurried in making decisions because we feel pressure to make them. We also have a "get it done and move on" mentality.
DETROIT--(BUSINESS WIRE)-- Ralph R. Roberts, consumer advocate and spokesperson for Federal Loan Modification Law Center, today released a list dispelling the top five myths about loan modification. Intended to better educate homeowners facing the prospect of losing their home in foreclosure, the following list demystifies the most common misconceptions surrounding the loan modification process.
As Old Fogie real estate agents know, one of the best sources of business IN this business is what I call "SPC"s" or Satisfied Past Clients. If you did a heck of a job for the buyers and sellers you"ve served in the past (and you stay in touch with them), they can be a significant source of future business and referrals for you. In fact, if you have enough of them, you can be set for life. It"s a beautiful thing.
What"s IN
Question: I recently got a listing of a classy little older home in a great neighborhood from a very nice widow lady. I"ll call her Mrs. Wiggs. My broker actually referred her to me, since she was a long time friend of the family and I"m the most experienced agent in our office. She had lived in the home for over 30 years and she and her late husband had raised their family in it. I choked up on my first tour of the home when she showed me the pencil marks on the wall where she had measured the heights of each of her children on their birthdays.
Question: I was working with a broker recently on a co-op sale and during a conversation with him I used the word "deal" to describe the transaction in which we were involved. I haven"t received such a tongue lashing over using a four letter word since I inadvertency uttered one in the fifth grade and Miss Baumgartner overhead me. I won"t make that mistake again, but since I"m comparatively new to the profession can you tell me if there are other words I should avoid using in mixed company?
"Desperate Times Requires Drastic Measures!" I really think this phrase is unknown to many real estate agents these days. All too many are frozen in place waiting for the next clean deal to come together or be dropped in their lap. The sad thing is it will not. If they want to survive, they need to learn it quickly, and implement change immediately! Many associates and brokers that I know in real estate have really gotten foolish lately. They are so desperate for money to pay their own bills that they have thrown reason out the window.
Recently on our consulting forum, we had a very interesting discussion about where our value today lies as agents. It seems that in the tough market that we are working in, many agents are competing for listings by charging less than the competition and requiring less commitment in the way of an exclusive agency contracts with buyers.
Think about how much income you"ve lost because of your inability to persuade. How many times have you been unable to convince a good prospect to buy a home you knew met all criteria but couldn"t close the sale? I believe the way to improve sales lays in your ability to incorporate the law of contrast into your sales presentation.
Not surprisingly, this year so far has featured more negative media coverage of real estate than last year when the financial world was coming to an end. At this point, things are a bit slower than some thought, busier than others thought but in the end all those predictions are just that, predictions. If you are tired of peering into your crystal ball looking for answers, how about this thought: Who cares what the media thinks!
Despite who takes the White House in November, one of the capital city bedroom cities will boom, most likely continuing a year-long recovery. Fairfax County, Virginia has always been one of Congress" favorite housing destinations for their families who relocated to the D.C. area once they are elected or re-elected.
As a real estate agent, you are expected to create a marketing plan for your seller. When seeking the listing, you present the seller with your strategies about what you’ll do to promote the home. When was the last time you included Public Relations as part of your marketing matrix? Probably not lately and that’s likely because you don’t understand the public relations process and how the media works. This column will help change that.
DORKY: A style of writing, primarily used in self-promotion, which is predictable, boring, boilerplate or just plain blah.
When my wife and I were blessed with our first son, Wesley, with all of the wonderful changes and challenges that a newborn brings, the one I was not as well prepared for was the lack of sleep. This translated to days when my energy tank was not overflowing; this was a unique concept for me. We all face the challenge of a physical energy tank that is overdrawn at times.
How effective are you when you are face-to-face with your clients on a listing presentation? Do you get the signature quickly and efficiently at your desired price? What do you really sound like to your clients?
We real estate agents love our systems, don"t we? If we can purchase a product that will help us streamline our prospecting efforts, we"re all for it. Where do I sign? But let me fly in the face of convention here and say … STOP! Stop with all the systems and programs and products!
During a recent tour of a townhome for sale, I was struck at the owner"s apparent apathy for increasing her odds. My Realtor and I tripped over a pile of tennis shoes in the front entryway. Newspapers were littered about the living room floor. A pile of shirts drooped over the recliner. The morning"s breakfast dishes were still on the table, being hungrily eyed by
You"re on top of the world. Your agent has just explained that it"s a "seller"s market" meaning that there"s an abundance of buyers for the number of homes listed. Sounds like you"ll have no trouble selling---like shooting fish in a barrel!
Home improvement techniques pioneered three decades ago provide a good retrofit for the homes of today"s aging baby boomers.
The buyer offered everything you asked for. The wheels are in motion to close the sale. But all at once a wave of "seller"s remorse" flows over you. You realize that you really don"t want to sell the property.
Reverse exchanges often strike fear in the hearts of legal and tax professionals trying to protect clients who are determined to use this technique to pay as little tax as possible. This is because there has been no formal acknowledgement of reverse exchanges by the Service until now.
Much has been made in recent weeks of homeowners taking advantage of a booming real estate market and selling their homes without a broker. With low housing inventory in markets across the county, combined with the relatively low mortgage interest rates, it seems like saving a Realtor"s fee is a win-win situation for buyers and sellers -- - or is it?
You’ve decided to sell your home. Like most people, you’d like it to
[Note: To follow is an excerpt of an interview with Toni Blake, an international speaker, author and comedienne with more than 28 years in multifamily housing. To listen to, or download the show archive MP3, go to www.IncomePropertyInvestmentTalk.com/100108.]
A reserve study is one of the most indispensable planning tools an HOA can have. And like a roof, getting the best bang for your buck is the way to go. The best reserve studies are put together by trained industry professionals. But unlike roofing companies, there are only a handful of qualified reserve study providers in the world. How could this be true?
Selling a home is something you either want to do or are forced to do, and
There are ten houses on your street for sale: they"ve sat for six months and
The decades-long gulf between the US dollar and the Canadian "loonie" now has become a level playing field and Canadians are all set to play. With the dollar at par, Canadians can plainly see how much more they pay than Americans for everything from carpeting, couches and cars to real estate without knowing exactly why.
It’s the hottest summer on record for new home activity in the Greater Toronto Area. Total sales are up almost 60 per cent compared to 2006, and sales are running 15 per cent ahead of last year’s pace.
Sales volumes in the GTA decreased 18 per cent compared to the first half of October 2007, when 3,297 transactions were recorded and are down 10 per cent compared to the same period in 2006 when 3,007 sales took place.
A new report by economist Derek Holt of RBC Economics has a positive outlook for the Canadian mortgage market, largely thanks to recent mortgage innovations such as 30-and 40-year mortgages.
"With four months passed, 2007 sales to-date are up five per cent over last year," Ms. Mason observed. "We are on track for another near-record year."
What"s a Boomer? This question seems more correct than "who is a Boomer?" since this statistic-laden collective term is usually applied to group reactions and behaviours. Don"t let the hype about Baby Boomers distract you from what is really important -- you and what you want to achieve. Instead of following others, adopt self-leadership and lead yourself, your family and your community toward a brilliant future.
Condominiums are creatures of statute, yet understanding the law that creates a two-bedroom-plus-den unit or a 4-bedroom townhome and enables you to own it may be the last thing on your mind as you shop for a condominium. When a condominium is the right fit, there is no better home ownership for the money. If you don"t understand what you are buying into, you may discover you are living in the wrong place.
"This is very solid performance in line with some of the strongest results we"ve had, especially given the record January we just experienced," Mrs. Mason said. "Consumers are showing that the colder months are a great time to get in to the market or make a switch to a different home."
"You"re only young once, but you may be immature forever," could be the rallying cry for the numerous nonprofit groups intent on raising awareness for crucial, and costly, community problems surrounding individual habits that range from smoking and poor nutrition to abuses like drugs and alcohol. Many Canadians feel that these and other concerns, could be controlled or eradicated if individual maturity would kick-in on a large scale.
Most would not think of investigating food policies, production options, distribution systems and food security in their region or in a new location they"re considering. Yet, food vulnerability is an increasing reality in this century, whether it takes the form of bird flu, drought, soaring fuel prices, vanishing agricultural land or a host of unpredictable events.
Prosperity does not descend on Canadian communities by accident, but through the hard work and determination of its visionary residents. One living example of Canadian resourcefulness is a community in the shadow of one of the world"s natural wonders.
Shortages of skilled construction labour, coupled with steadily increasing material and energy costs, make meeting construction deadlines and budgets a challenge for residential developers and
From June 19 to 23, 2006, Vancouver, British Columbia, is the centre of the world -- at least the centre of the urban world. More than 15,000 from around the globe are attending the Third Session of the World Urban Forum, UN-HABITAT"s "premier international meeting on the state of the world"s growing cities."
Last week, Canada celebrated National Tourism Week (June 5-11) and encouraged Canadians to explore their country this summer. As we continue with that theme, one innkeeper candidly takes us behind the scenes of his successful historic inn to reveal why local inns are worth a visit even it you don"t get across Canada this year.
Sometimes an idea seems so simple, so obvious in hindsight, that the automatic response is: "Why didn"t we do this sooner?" For the more than 23,000 members of the Toronto Real Estate Board (TREB), this question may become a common response to TREB"s Buyer Registry Service.
It"s way past time for housing designed and built for the issues facing Canadians today, but a new federal initiative hopes to encourage developers and builders to shift into fast-forward and "construct the next generation of Canadian housing" now.
You"ve heard the news that pending sales are up across the country over 7 percent from July to August. While that"s the broad brush news, when looking at the details, one sees just how many states in the West are experiencing a huge surge in the number of sales being registered on real estate boards across the region.
The Olympic battles for gold are behind us, but in the Canadian housing market, the competition for platinum is just heating up.
Canadians carrying significant debt load should consider improving their financial situation while the economy remains strong. If a review of personal finances reveals that an economic downturn would result in a personal meltdown, it may be prudent to adopt a proactive approach. Predictions of burst real estate bubbles, rising interest rates, escalating energy prices and increased competition off-shore might herald economic slowdowns, so this could be a red-hot opportunity to take advantage of the current good times.
Real estate traditionally takes a back seat to taxes and other investments as the year begins even though real estate represents some of the best investment and tax opportunities the Canadian government provides.
Government regulation of real estate is a hot topic these days.
Canadians" heightened interest in environmentally-friendly energy efficiency has put previously-expensive heating alternatives in the spotlight. As fuel prices skyrocket, heat pumps are starting to make good financial sense.
Nothing in Canada matches the horror caused by Hurricane Katrina, but across the country it was a bad summer for flooding.
Canadian developers continue to creatively recycle obsolete non-residential real estate into an ever-expanding array of unit styles and lifestyle choices that has added the most high-profile conversion -- lofts -- to the list of standard Canadian housing options. Conversions are a response to changing demographics, renewed commitment to preserve architectural diversity, and the necessity to reduce construction costs for the benefit of both developers and buyers.
The panic and fear that have been shaking Wall Street aren"t translating into negative numbers for real estate -- in fact, it"s been the reverse.
A recent news release from CIBC World Markets asked, "Are Canadians sitting on a debt time bomb?" The provocative headline was to draw attention to a report by CIBC senior economist Benjamin Tal, who warns that Canadian households may be facing an economic shock because they are borrowing too much.
A C$500,000 fine has taught one Canadian mortgagee the taxable income lesson.
Canada"s real estate market, enjoying record sales for the last several years, is poised to have another great year in 2005, forecasters agree. While most observers think the market will be less frenetic than in 2004, economic conditions point to another strong year. Interest rates are not expected to increase dramatically, in part because of the strength of the Canadian dollar. The employment numbers are good and consumer confidence is positive.
Canadians in the midst of renovations or construction can be frustrated by delays caused when work crews must wait for permission to dig.
The problems associated with urban sprawl are getting a lot of attention these days as cities deal with increased pollution, traffic gridlock and an aging infrastructure. How urban and suburban areas deal with increased population growth was a major issue in the last federal election, and it"s not a problem that will go away soon.
Over 1.3 million Canadians have dipped into their RRSPs to purchase homes through the federal Home Buyers" Plan (HBP) since its creation in 1992. Usually, sidetracking savings targeted for retirement is discouraged, but the more than C$13 billion in RRSP funds involved bought dream homes and fueled the real estate industry without jeopardizing individual retirement plans -- thanks to the federal government.
Fasten your seat belts, we may be in for a bumpy winter! Canadians brace for increasing fuel costs as crude oil prices continue on a climb that may make US $50 a barrel sound reasonable.
Nationally, condominium inventory is at its highest levels, however, many metropolitan areas are starting to see the number of condominiums on the market decrease dramatically. This latest trend means higher prices are on the way, according to San Diego"s largest condo development company.
Statistics Canada reports that 4 in 10 Canadians picked up and moved between 1996 and 2001, but during our recent real estate boom, record home sales also mean escalated moving patterns. Even though Canadians are doing more of it, moving unfortunately continues to be an event that ranks along with death and divorce on the scale of all-time stressful events.
[Note: To follow is an excerpt of a radio show interview conducted by Peter L. Mosca, host of Income Property Investment Talk dot com, with Bob Diamond, a practicing real estate attorney, real estate developer, and published author of three books on foreclosure investing. Bob eliminates the guess work in hiring a loan modification provider, reduces the frustration and confusion with the process, and details what is necessary for success in working with lenders. To listen to the show archive or download an MP3, go to www.IncomePropertyInvestmentTalk.com/111809.]
Low interest rates may currently be transforming greater numbers of tenants into home buyers, but Statistics Canada reports that the proportion of Canadians renting their homes has changed little over the decades.
It"s a myth that households are piling up too much debt and heading for disaster, says a new study by Canada"s largest bank.
Canada"s federal housing agency, Canada Mortgage and Housing Corporation (CMHC), reports that its experts are continually fielding questions from housing industry professionals who are anxious about the state of trade relations with Canada"s largest trading partner, the United States. From CMHC"s viewpoint, the key question is: Do Canadian companies in the housing industry have what it takes to compete internationally?
Many Canadians believe that because they have nothing to hide, they do not need protection for their personal information. Sadly, too many have
There"s a lot of money to go around in Canada"s mortgage market -- more than $500 billion, according to recent estimates. Although the housing market is expected to cool from the record-setting pace of 2003, next year"s mortgage market will produce about $40 billion in new mortgages, according to Patricia Aresnault of Clayton Research in Toronto.
When Bill Harrington, legal counsel for the Canadian Real Estate Association, recently asked a roomful of several hundred Realtors how many of them had looked at the Association"s CD-ROM that explains Canada"s new privacy act, only a couple of hands went up. REM Magazine columnist Marty Douglas joked that the CD-ROMs, sent to every member by the association about a year ago, make great drink coasters.
A new report from the David Suzuki Foundation says urban sprawl is "seriously affecting the health of Canadians", and offers a "citizen"s toolkit" to help local communities stop the sprawl.
If you"re buying real estate, you"re thinking location, location, location. But for vendors and their real estate agents, the mantra is disclose, disclose, disclose.
Ironically, two days before a massive power failure plunged eastern North America into darkness, the Canadian federal government announced, through it"s Office of Energy Efficiency at Natural Resources Canada, that grants are available to homeowners who make energy efficiency upgrades to their homes.
San Diego is seeing a true buyers market at this time, with prices on a downward trend. Local expert Dawn Lewis reports that the downtown San Diego median condo price for 2007 was $538,000. This median condo price for Downtown San Diego condos was $52,000 less than last years median condo price."