2010 CHBA-EN 'Team Of The Year'!

The Canadian Home Builder’s Association of Eastern Newfoundland announced this month that The Williams-Hollett Sales Team of Realty Executives St. John’s was awarded “2010 Sales Team Of The Year”  in the CHBA-EN and 2010 Home Buyer/Seller market. This marks the second time in three years that our team have been awarded this as sales team of the year. We would like to extend a very big thank you to all of our clients, families and friends who have supported and continue to support our team, we are so grateful and honored to have won this award! 

Autumn in St. John's, Newfoundland!

Home selling in autumn is the second best time of the year to sell a home. Families have returned from summer vacations. Kids have gone back to school and the holidays aren't yet upon us...we are set to enjoy 75 to 80 days of normalcy.

In parts of the country with four seasons, we watch leaves explode in vibrant colors as for sale signs pop up in yards! People are happy and relaxed as the temperature begins to drop.

Here are 10 tips for attracting the autumn home buyer:

Clean Up the Yard

Rake dead leaves and debris in your lawn. Don't let overgrown vegetation block the windows or path to the entrance. Cutting bushes and tree limbs will let the sun inside and showcase the exterior of your home. Cut away summer vines and cut down dead flowers.

Create Autumn Curb Appeal

The most popular autumn flowers are chrysanthemums (or mums) and they bloom for a long time. I am also partial to marigolds for fall. Both mums and marigolds are available in yellow, which is a home selling color. Plant them in pots. Place pots on the steps and along the sidewalk. Accent with pumpkins.

Dress the Windows

Rain and wind from over the summer months can make your windows dusty and streaked by autumn. You might not notice smudges, but buyers will, if only on a subconscious level. To sell a home, your windows need to sparkle. Even though I am not selling my home, my cats routinely rub their little noses on the inside glass while walking along window ledges, so I need to wash my windows inside and out every autumn. Remove screens and spray them down.

Check the HVAC

You want the air inside your home to smell fresh. When was the last time you changed your furnace filter? You can buy 90-day furnace filters. Have the HVAC system checked before you need to turn on the heat. Besides, the buyer will ask a home inspector to look at your HVAC. If you discover problems with your furnace, it's better to fix them before your home goes on the market.

Clean Out the Fireplace

Ah, nothing smells like autumn than smoke from a wood-burning fireplace.  If you have a gas fireplace, light it when buyers come through. If the fireplace is filled with cobwebs because it hasn't been used for months, vacuum it out and wash it down. Some home stagers arrange knickknacks in the fireplace in place of wood logs.

Prepare Autumn Dishes

Speaking of autumn scents, you might set out freshly baked pumpkin cupcakes or simmer hot apple cider on the stove. Put a tray of cinnamon sticks on the counter, dotted with whole clover or even just fill a bowl with crisp red apples!

Utilize Autumn Accent Colors

You don't need to dump a lifeless sofa when you can accessorize its dullness with bright red, orange and / or golden yellow pillows. Toss a quilt or autumn-colored throw over a chair. After you've cleared away the clutter and depersonalized each room, bring a little bit of autumn hues to each room by placing bold-colored accent pieces in odd groupings such as 3's and 5's. Create an autumn centerpiece for the dining room table by arranging pine cones and nuts around orange candles, stick in a few leaves from the yard.

Turn on the Lights

Above all, bring in the light. When days get shorter, the sun sets lower in the horizon and casts wider shadows. Pull up the blinds, open the shutters, push back the drapes on every window. Turn on every light in the house, including appliance lights and closet lights.

For more info on how to get your home sold and for top dollar call us anytime for a free home consulatation on getting started 709-764-6161or email us @  info@williamshollett.ca   

Above all, Have a Happy Autumn From Our Team To Your Families, Enjoy!

11 Things You Need To Know To Pass Your Home Inspection

Home Inspections In St. John's Newfoundland


1. Defective Plumbing

Defective plumbing can manifest itself in two different ways: leaking, and clogging. A visual inspection can detect leaking, and an inspector will gauge water pressure by turning on all faucets in the highest bathroom and then flushing the toilet. If you hear the sound of running water, it indicates that the pipes are undersized. If the water appears dirty when first turned on at the faucet, this is a good indication that the pipes are rusting, which can result in severe water quality problems.

2. Damp or Wet Basement

An inspector will check your walls for a powdery white mineral deposit a few inches off the floor, and will look to see if you feel secure enough to store things right on your basement floor. A mildew odor is almost impossible to eliminate, and an inspector will certainly be conscious of it.

It could cost you $200-$1,000 to seal a crack in or around your basement foundation depending on severity and location. Adding a sump pump and pit could run you around $750 - $1,000, and complete waterproofing (of an average 3 bedroom home) could amount to $5,000-$15,000. You will have to weigh these figures into the calculation of what price you want to net on your home.

3. Inadequate Wiring & Electrical

Your home should have a minimum of 100 amps service, and this should be clearly marked. Wire should be copper or aluminum. Home inspectors will look at octopus plugs as indicative of inadequate circuits and a potential fire hazard.

4. Poor Heating & Cooling Systems

Insufficient insulation, and an inadequate or a poorly functioning heating system, are the most common causes of poor heating. While an adequately clean furnace, without rust on the heat exchanger, usually has life left in it, an inspector will be asking and checking to see if your furnace is over its typical life span of 15-25 yrs. For a forced air gas system, a heat exchanger will come under particular scrutiny since one that is cracked can emit deadly carbon monoxide into the home. These heat exchangers must be replaced if damaged -they cannot be repaired.

5. Roofing Problems

Water leakage through the roof can occur for a variety of reasons such as physical deterioration of the asphalt shingles (e.g. curling or splitting), or mechanical damage from a wind storm. When gutters leak and downspouts allow water to run down and through the exterior walls, this external problem becomes a major internal one.

6. Damp Attic Spaces

Aside from basement dampness, problems with ventilation, insulation and vapor barriers can cause water, moisture, mould and mildew to form in the attic. This can lead to premature wear of the roof, structure and building materials. The cost to fix this damage could easily run over $2,500.

7. Rotting Wood

This can occur in many places (door or window frames, trim, siding, decks and fences). The building inspector will sometimes probe the wood to see if this is present - especially when wood has been freshly painted.

8. Masonry Work

Re-bricking can be costly, but, left unattended, these repairs can cause problems with water and moisture penetration into the home which in turn could lead to a chimney being clogged by fallen bricks or even a chimney which falls onto the roof. It can be costly to rebuild a chimney or to have it repainted.

9. Unsafe or Over-fused Electrical Circuit

A fire hazard is created when more amperage is drawn on the circuit than was intended. 15 amp circuits are the most common in a typical home, with larger service for large appliances such as stoves and dryers. It can cost several hundred dollars to replace your fuse panel with a circuit panel.

10. Adequate Security Features
More than a purchased security system, an inspector will look for the basic safety features that will protect your home such as proper locks on windows and patio doors, dead bolts on the doors, smoke and even carbon monoxide detectors in every bedroom and on every level. Even though pricing will vary, these components will add to your costs. Before purchasing or installing, you should check with your local experts.

11. Structural/Foundation Problems

An inspector will certainly investigate the underlying footing and foundation of your home as structural integrity is fundamental to your home.

When you put your home on the market, you don't want any unpleasant surprises that could cost you the sale of your home. By having an understanding of these 11 problem areas as you walk through your home, you'll be arming yourself against future disappointment! for more tips and information on how to pass your home inspection, give us a call direct anytime 709-764-6161. 


 YOUR HOME SOLD GUARANTEED- OR WE'LL BUY IT! www.tradeyourhome.ca 


LOVE IT OR LIST IT! IF YOU'RE NOT SATISFIED WITH YOUR HOME WITHIN THE FIRST 12 MONTHES, WE'LL BUY IT BACK FROM YOU-GUARANTEED! www.stjohnsbuyback.ca

Urban housing starts increased during the month of August

August Housing Starts in the St. John’s Area

ST. JOHN’S, September 9, 2010 – Urban housing starts increased during the month ofAugust, according to preliminary data1 released today by Canada Mortgage and Housing Corporation (CMHC). August’s housing starts totaled 179 throughout the St. John’s area versus 151 starts in August of 2009. There were 18 additional starts recorded outside the St. John’s area, for a total of 197 provincial urban starts compared to 190 last August. Year-to-date, starts remain positive, with 1,177 recorded in the St. John’s region versus 1,026 last year.


“The number of new homes started in August is in line with the current forecast and the expectation that new home construction will slow over the remainder of 2010,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador.“New home demand was steady during the first half of 2010, but will taper off in the coming months, due to recent price growth and record high home prices,” added Janes. In urban centres across Canada, total housing starts increased 12 per cent with 14,253 recorded in August compared to 12,734 during August of 2009.

Throughout Atlantic Canada, there were 847 urban housing starts posted versus 907 the previous August, a decrease of seven per cent. As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

_________

For more information, visit www.cmhc.ca or call 1-800-668-2642.

PRELIMINARY URBAN MONTHLY HOUSING STARTS

NEWFOUNDLAND & LABRADOR SUMMARY

AUG AUG 2010 2009

ST. JOHN'S CMA

Single 152 128 18.8% 988 864 14.4%

Multiple 27 23 17.4% 189 162 16.7%

TOTAL 179 151 18.5% 1,177 1,026 14.7%

ALL CENTRES*

Single 169 163 3.7% 1,120 1,036 8.1%

Multiple 28 27 3.7% 231 198 16.7%

TOTAL 197 190 3.7% 1,351 1,234 9.5%

Figures for the most recent month are preliminary and subject to revisions due to corrections or updates from

quarterly enumeration or sampling results.

Your Home Sold Guaranteed- Or We'll Buy it for Cash! Ask us about our Guarantee Sales Program that so many people in St. John's have already taken advantage of. Call or Email us anytime 709-764-6161

Downsize Your Home To Downsize Expenses in St. John's Newfoundland

Lately we have been working with alot of clients who are looking to move into a smaller home after their children have grown up and moved out of their family home. Downsizing your home is most commonly associated with empty-nesters and retirees looking for smaller spaces after the kids have moved out, but it's also becoming a more popular move for a growing number of hard-working, money-smart homeowners. It's also a move that makes a lot of financial sense.

We couldn't help but look at the positives of downsizing your home. Moving can seem rather daunting to some empty nesters. So if you're considering "downsizing" to a condo, new ranch style home, or anything smaller, plan for the major adjustments ahead of time!

Downsizing your house is great way to lower your real estate taxes due to the lower assessments on a smaller home, but it's also an excellent opportunity to move yourself right into a new neighborhood - preferably one with lower real estate taxes and lower income taxes. Better still, it may be a chance to move to place that has a lower overall cost of living.

The site of your primary residence can have a big impact on the cost of groceries, gasoline, car insurance,  commuting and more. A new location can result in a shorter trip to work and may, if you move from the suburbs to the city, enable you to get rid of your car altogether.

Some tips on getting started before you make the move is to carefully consider your furniture placement options that will use the space as efficiently as possible. Then reduce clutter by storing or sharing keepsakes and unused items. son you will be able to concentrate on the enhanced lifestyle benefits enjoyed by so many condo residents:

Looking Beyond the MoneyIn addition to substantial cost savings, moving to a smaller place has other benefits. For example, you're likely to have substantially less work to do around the house. With your newfound time, you can start a hobby, visit friends, travel or simply relax instead of spending hours cleaning, improving, or fixing your too-big house. You can even move to condominium and delegate most of the chores to the maintenance man.

Stopping to Think FirstBefore you trade your home for a smaller one, please consider all of the angles. Carpenters say to "measure twice, cut once".  Think about your current home: How many rooms to do you have? How many of those rooms do you actually use? How much time do you spend in that basement that you have to pay to heat and cool? But before you call the movers, remember think through your reasons for moving. Is a new lifestyle right for you? Can you live in a place where the neighbors are close? If the condo doesn't allow pets, will that bother you?

Like any major lifestyle decision, planning is the key to success. Plan first, then move! It just takes a little bit of strategy to make sure that you are doing the right thing and that you won't be sorry about it after the fact.


for more information on downsizing your home or for your to learn how to get your home sold guaranteed so you are not carrying 2 mortgages at once, please feel free to contact us anytime at 709-764-6161 or email us info@williamshollett.ca 


 
The Williams Hollett Sales Team is your award winning team. We specialize in Residential & Commercial Real Estate in St. John's, Newfoundland, providing a unique and client focused approach to buying and selling real estate! we are your number one resource for real estate in St. John's, as well as for surrounding communities and towns like Torbay, or Mount Pearl and Paradise. For MLS listings and information on neighbourhoods, or information on new home construction in St. Johns, we are your team of experts!

to view of all our listings or for more information visit www.williamshollett.ca

“Urban housing starts decreased during the month of July, according to preliminary released today by Canada Mortgage and Housing Corporation (CMHC)"

 St. John’s Real Estate July Housing Starts
August 10, 2010

Just released from CMHC: Housing Now publications press release for housing starts in Newfoundland and Labrador.

“Urban housing starts decreased during the month of July, according to preliminary released today by Canada Mortgage and Housing Corporation (CMHC). July’s housing starts totaled 176 throughout the St. John’s area versus 216 starts in July of 2009. There were 19 additional starts recorded outside the St. John’s area, for a total of 195 provincial urban starts compared to 270 last July. Year to- date, starts remain positive, with 998 recorded in the St. John’s region versus 875 last year.


“July’s decline in the number of new homes started is in line with the current forecast and the expectation that starts will slow over the remainder of 2010,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “New home demand was steady in the first half of 2010, but will continue to be lower in the coming months, due to recent price growth and record high home prices,” added Janes.

In urban centres across Canada, total housing starts increased 34 per cent with 15,195 recorded in July compared to 11,313 during July of 2009. Throughout Atlantic Canada, there were 1,208 urban housing starts posted versus 954 the previous July, an increase of 27 per cent.”

Spring Home Maintenance Checklist!

Keeping your home in top shape requires year-round care. While each season brings different tasks and challenges for homeowners, spring is an especially important time – it’s when to assess winter wear and prepare for summer.

Many big home repairs start out small but, left unattended, become more costly problems. By taking care of little issues now, you can save yourself a lot of money and stress in the long run. Keeping a list of what needs to be done, and when, can help you to avoid and prevent the most common household problems.

Many of the necessary tasks are probably easy enough for you to take care of yourself. However, if you don’t feel comfortable or don’t have the proper equipment, consider hiring a qualified contractor to help you.

Inspect your roof.  Shingles that curl (turn up) and claw (turn down) can make your roof inefficient and susceptible to leaking. Check around vents, skylights and chimneys for leaks and repair as necessary.Don’t forget to check your roof from the inside too. Look in the attic for any signs of moisture or surface discolouration on the underside of the roof that may point to leakage from above or air leaks coming from your house.

Get a chimney check-up. Have a professional chimney sweeper clean/inspect your active or decorative chimney. Professionals should also check the chimney flue and cap for cracks or leaking.

Clean gutters and drain pipes so leaves won't clog them and be sure they drain away from the house. Drain outside faucets.

Clean siding with a pressure washer to keep mold from growing. Check all wood surfaces for weathering and paint failure. If wood is showing through, sand the immediate area and apply a primer coat before painting. If paint is peeling, scrape loose paint and sand smooth before painting. Replace rotted siding or trim.

Check foundation walls, floors, concrete and masonry for cracking, heaving, or deterioration. If you see large cracks or a significant number of bricks losing their mortar, call a professional.

Spring is also a great time to clean your windows, screens and hardware and replace storm windows with screens. Check your screens for holes or tears first and repair or replace them if needed. Examine putty/caulk lines around exterior windows and doors and ensure weather stripping creates a good seal.

Check all decks, patios, porches, stairs and railings for loose members and deterioration. Open decks and wood fences need to be treated every four to six years, depending on how much exposure they get to sun and rain. If the stain doesn't look like it should, or water has turned some of the wood a dark gray, hire a professional to treat your deck and fence.

Prune landscaping and create good drainage. Shrubs and landscaping help against soil erosion, but should be planted to form a negative grade, which means water will flow away from the house. You don't want growth up against the foundation of the home itself.

Inside the house:

• When it’s warm enough outside, turn off your gas fireplace pilot lights where possible.
• Carry out the manufacturer’s recommended maintenance for your air conditioning system and ventilation equipment.  Be sure to consult your owner’s manual for cleaning instructions or hire a qualified contractor.
• Check your smoke, carbon monoxide and security alarms and replace the batteries.
• Reopen any valves for outside hose bibs that were shut off last fall.

After all of your 'Spring Cleaning' tasks are said and done, sit back and enjoy all of the benefits this season has to offer. If you are looking for activity's to do in the city check out The City of St. John's Calendar of Events Here & Enjoy! 

Your Home Sold Guaranteed- Or We'll Buy it for Cash! Ask us about our Guarantee Sales Program that so many people in St. John's have already taken advantage of. Call or Email us anytime 709-764-6161

Continued Growth in St. John's Housing Market

ST. JOHN'S, May 19 /CNW/ - 

    Resilient consumer spending, large capital projects and employment growth will continue to support the St. John's region housing market throughout the remainder of 2010 and in 2011, according to Canada Mortgage and Housing Corporation's (CMHC'S) Housing Market Outlook - St. John's report released today.

   Housing starts are expected to end 2010 at 1,775 units, with 1,900 starts forecast for 2011. The resale or MLS(R)(1) market will post 3,650 sales by the end of this year and reach the 3,600 level in 2011. The average MLS(R) house price is expected to end 2010 at $245,000 compared to $218,862 in 2009 and increase to $255,000 in 2011. 

     "Despite the recent global economic uncertainty, strong fundamentals will continue to support demand for housing throughout the remainder of 2010 and in 2011," said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. "Overall, the positive outlook for the St. John's area housing market will be reinforced by favourable trends in demographic and economic fundamentals, as well as on-going economic momentum fuelled by a lengthy list of major capital projects," added Janes. 

    As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions. 

-------------------------------------------------------------------------
                               Forecast Summary
                               St. John's CMA
                                 Spring 2010
    -------------------------------------------------------------------------
                                                            %              %
                        2007     2008     2009    2010f   chg    2011f   chg
    -------------------------------------------------------------------------
    Resale Market
    -------------------------------------------------------------------------
    MLS(R) Sales          NA    3,835    3,642    3,650   0.2    3,600  -1.4
    -------------------------------------------------------------------------
    MLS(R) New
     Listings             NA    7,520    7,427    7,500   1.0    7,450  -0.7
    -------------------------------------------------------------------------
    MLS(R) Average
     Price($)             NA  187,571  218,862  245,000  11.9  255,000   4.1
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    New Home Market
    -------------------------------------------------------------------------
    Starts:
    -------------------------------------------------------------------------
      Single-Detached  1,174    1,485    1,385    1,450   4.7    1,550   6.9
    -------------------------------------------------------------------------
      Multiples          306      378      318      325   2.2      350   7.7
    -------------------------------------------------------------------------
      Starts - Total   1,480    1,863    1,703    1,775   4.2    1,900   7.0
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Average Price ($):
    -------------------------------------------------------------------------
      Single-
       Detached      211,123  230,473  281,803  315,250  11.9  328,250   4.1
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Median Price ($):
    -------------------------------------------------------------------------
      Single-
       Detached      189,900  215,372  260,000  291,000  11.9  303,000   4.1
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    New Housing
     Price Index
     (% chg.)            5.0     19.6     11.5      8.0   n/a      5.0   n/a
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Rental Market
    -------------------------------------------------------------------------
    October Vacancy
     Rate (%)            2.6      0.8      0.9      1.0   0.1      1.3   0.3
    -------------------------------------------------------------------------
    Two-bedroom
     Average Rent
     (October) ($)       614      630      677      725   6.0      775  11.0
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Economic Overview
    -------------------------------------------------------------------------
    Mortgage Rate
     (1 year) (%)       6.90     6.70     4.02     4.23  0.20     5.56  1.34
    -------------------------------------------------------------------------
    Mortgage Rate
     (5 year) (%)       7.07     7.06     5.63     6.20  0.57     7.06  0.86
    -------------------------------------------------------------------------
    Annual
     Employment
     Level            94,400   98,000   99,200  100,000   0.8  102,000   2.0
    -------------------------------------------------------------------------
    Employment
     Growth (%)          1.4      3.8      1.3      0.8   n/a      2.0   n/a
    -------------------------------------------------------------------------
    Unemployment
     rate (%)            6.9      7.8      8.1      8.0   n/a      7.5   n/a
    -------------------------------------------------------------------------
    Net
     Migration(1)      1,386    2,408    2,750    3,000   9.1    2,850  -5.0
    -------------------------------------------------------------------------

Source, MLS, CMHC

AN ENERGY EFFICIENT HOME- IS A HAPPY HOME!

DID YOU KNOW THAT MAKING YOUR HOME ENERGY EFFICIENT INCREASES ITS VALUE!

According to one study, making no cost/low cost changes can boost your home's value $18,000. Why not implement some of the following suggestions to make your home more energy efficient?

1. Lower the thermostat on your water heater. If your hot tap water is too hot to touch, lower the temperature a few degrees.

2. Check for air leaking around doors. A lot of the air you pay to heat or cool escapes through unsealed doors. Install or replace worn weather stripping. Replace broken or missing storm doors.

3. Close the air vents in rooms not in use. For example, close the vents and shut the door to an unused guest room.

4. Keep heat producers far from your thermostat in summer. Floor lamps and televisions can significantly raise the temperature in the area near a thermostat, turning on your air conditioner too often.

5. Clean your furnace and air conditioner filters. Replace existing dirty air conditioner or furnace filters. During heavy use periods, replacement is recommended every 30 days.

6. Operate large appliances during low-use periods in summer. Use your washer and dryer and other heat-producers early in the morning or late at night. Use the air-dry method on your dishwasher to save energy.

7. Request an energy audit. Contact your local utility company to request a free energy audit. Most electric and gas companies will check for proper insulation, find cracks in the eaves or roof that could leak energy, and make recommendations for improvements. Some electric companies offer low-cost financing for such improvements.

8. Replace existing insulation. A proper barrier keeps heat and cold from penetrating your home's exterior and provides for even temperatures between rooms. The EPA recently reported that proper ceiling insulation may reduce electric bills 20%.

9. Replace existing appliances. If money is no object, replace old appliances with Energy Star appliances, specifically created to optimize energy consumption. If your budget limits you to replacing one appliance, buy a new refrigerator; a new model could knock off 25% of your electric bill.

10. Buy new light bulbs. Replace incandescent bulbs with fluorescent.

11. When you heat your home, you need to make sure that the heat stays in your residence. Your attic needs to be properly insulated. A well insulated attic will help reduce summer cooling costs as well. You can get about fifty square feet of fiberglass insulation for around fifty dollars. The total cost of the project will depend on the size of your attic space. For smaller areas where air is escaping, you can use cans of pressurized foam. These cans are very inexpensive and usually cost less than five dollars.

Occasionally, the government offers tax rebates on some of these energy efficient home improvements. Before you install any green appliances or home fixtures, do some research to see if you qualify for any of these tax rebates. Even if you do not qualify for a tax rebate, making your home more energy efficient will still save you money. In addition, you will be making your home more earth friendly.

NEW HOME CONSTRUCTION: Yesterday CMHC said that construction of 75 new homes began in the area in March 2010, compared to 45 last year in the same period. That's an increase of 66.7%. They attributed the increase to continued employment and income and population growth as well as a very mild winter which enabled developers to dig up foundations the whole winter!!! Looking at buying new home construction, check out our building partner Skymark Homes for more info and to check out new homes for sale in the city! http://www.skymarkhomes.ca/

New Rules for Canadian Mortgages

You’ve probably read about the new regulations for Canadian Mortgages for buyers/ investors and home owners wanting to re-finance. In case you haven’t been following, here is the scoop.

Three changes will come in effect on April 19:

1. Qualification: All borrowers will need to meet standards for five-year fixed-rate mortgages regardless of whether they’re seeking a loan with a lower rate and shorter term.
2. Refinancing: The government is lowering the maximum amount Canadians can withdraw when refinancing a home to 90% of its value, from the current 95%.
3. Speculation: It will be required a 20% down payment for government-backed mortgage insurance on “speculative” investment properties. As opposed to 5% down-payment for investments not occupied by the owner.

You can also check out The Canadian Mortgage Trends for additional important information regarding Canadian mortgages and what's happening. http://www.canadianmortgagetrends.com/

Planning a Smooth Move!

Easy Tips to help get you started from The Williams-Hollett Sales Team...

Moving can be a fun adventure or a harrowing experience. Whether you decide to coordinate your own move or utilize the services of professional Movers it is important to plan in advance to minimize the potential of frustrating set backs. The key to a smooth moving is careful planning. The mortgage industry has adopted several rules of thumb that will help you get the ball rolling.

6 Weeks Prior To the Move: Acquire estimates from Moving companies. Sketch floor plan of new home to determine furniture placement. Create an inventory list of valuables. Take photos and record serial numbers.

4 Weeks Prior To the Move: Notify credit card companies, lenders, banks of your moving date and new address. Contact Utility Companies to prepare for disconnection and refunds from deposits. Complete a change of address form at the Post Office. Notify magazines of change of address. Get any and all typesof records for filing (doctor, dentist, school, , birth certificate, optometrist). Contact your bank for information regarding transferring of funds and deposits. Contact new schools regarding enrollment procedures, if needed.


3 Weeks Prior To the Move: Discuss the move with your veterinarian. Obtain copies of all pet medical records. Ask healthcare professionals (Doctors, Dentists etc.) for referrals to new providers in your area. Return any borrowed items including Library books.


The Week of The Move: Schedule the termination of utilities, newspaper subscriptions, cable and garbage. Fill all needed prescriptions and notify pharmacy of move. Photograph or videotape all furniture for damages to prevent any problems with movers. Contact utilities for new home regarding deposits and schedule new installation. Drain oil and gasoline from lawn mower and other household equipment.


The DAY of The MOVE: Provide the movers with documentation of any existing scratches to personal property items. Provide the movers with any and all contact numbers, if you need to be reached. Complete a final walk-through of your home. Provide family and friends with a specific route and all contact numbers.