Blogs

A recent news report suggests that Canadian homeowners are paying down their mortgages faster than most think.

According to a CIBC World Markets study, homeowners are taking advantage of record-low interest rates to accelerate their mortgage payments, and therefore shorting their amortization periods. The study shows that homeowners are paying an additional $11 billion a year in principal, which isn't being officially recognized by the Bank of Canada.

Canada’s housing market is off to a solid start this fall, with new data pointing to a near-11 percent rise in sales for September compared to a year ago.

According to Canada Mortgage and Housing Corporation (CMHC), the trend measure of housing starts in Canada was 197,747 units in September compared to 191,095 in August. The trend is a six-month average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

While new condo sales have followed the general path of many economic variables over the past decade with various degrees of correlation, their close relationship to the stock market is attention worthy.

What is Real Estate (Home) Staging?

• It is creating an environment that buyers want.
• It is using marketing and decorating techniques that will highlight the value of each room.
• It showcases the unique features and adds character and warmth to the home.
• It is creating an appeal to your home for a wide variety of buyers.
• It allows a buyer to see the potential of a house and visualize themselves in the home.
• It helps the home to stand out compared to the competition.
• It will help to sell the home quicker and for top dollar.

Home staging is becoming less of a novelty and more of a necessity. If your neighbour is selling their house and has it staged, then you will also need to stage yours if you wish to stay competitive.

Long gone are the days when dog lovers would have a tough time buying a condo in Metro Vancouver.

Home insurance policy provides coverage for five main areas:

• The primary dwelling/building
• Other Structures such as storage sheds and detached garage
• Personal property
• Loss of use (if the dwelling is uninhabitable due to damage)
• Personal Liability (if your negligence caused injury to a person or his property)

The home policy is generally an “all perils” type of coverage that includes damage due to fire, theft, wind, hail, hurricanes, water and sewer backup. Earthquake is available for extra premium.

The policy provides replacement cost for both building and contents.