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| Lynn Fee
Sales Representative
905-945-0660
905-975-1055 |
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| Posted on Tue, 23 Mar 2010, 03:03:25 PM in Home buying tips, Mortgage, etc. | | | | By now, you’ve probably heard about new mortgage rules—set to take effect April 19th. Fear not! A lot of people seem to be concerned or confused with the changes, so I’ve decided to help shed some light on them. Here’s what the new rules mean to you:
1. New Qualifying Standards
Borrowers must be able to handle a five-year, fixed-rate mortgage, even though they may opt for a shorter term and lower rate. The government said this test will help homebuyers prepare for higher rates. As it now stands at the major banks, borrowers are income-tested for a three-year fixed rate. The change could influence about 25% of all new mortgages. That does not mean the 25% of buyers won’t be able to buy, but it may mean they have to lower their expectations as to the size of the homes they want. Based on a 5% down payment and an average home price of $335,000, a buyer would need about $9,000 more in annual income to qualify under the changes. At $200,000 and 5%, that would fall to $5,500.
2. New Refinancing Rules
Refinancing homes will now be limited to 90% of the value of a property, down from 95%. That means property owners won't be able to draw equity back down to the 5% down payment level. The government said this will help make owning a home a more effective way to save.
3. New Downpayment Rules for Non Owner-occupied Homes
A minimum down payment of 20% will be required for government-backed insurance on properties not lived in by their owners, up from 5%. This will likely only impact individuals buying real estate for investment purposes, including rental properties, and is likely aimed at tempering speculative buying of real estate by reducing the leverage available to buyers.
These changes will likely affect between 5-10% of buyers, helping beef up their qualifications for a mortgage, and enforcing a more conservative approach to investing in real estate.
The GOOD NEW IS …. Home ownership is still, by far the best investment for your hard-earned dollars and we have qualified mortgage people to help you realize your dreams!
(Reference: Globe & Mail, Michael Babad; Canwest News Service; CBC News)
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| Posted on Wed, 17 Feb 2010, 10:45:03 AM in Home Inspection | | | | When you purchase a home, it's often recommended that you have a home inspection done. In fact, a typical Agreement of Purchase & Sale Form will include a standard preprinted clause with respect to home inspections. This is one of the most common conditions in an offer to purchase a property. When real estate markets are extremely active and you really want a particular home, skipping the home inspection and not placing this kind of condition in an offer can be tempting. Before you make the decision, consider the benefits of a home inspection.
If there is a Seller Property Information Statement (SPIS), you may receive a copy and have a general sense of comfort about the history of the property. However, you should keep in mind that the person selling the home may not be aware of property defects and that the information provided in the SPIS is based only on their personal knowledge.
Similarly, the broker or salesperson representing you in the transaction may have the experience to identify visually obvious defects, but underlying problems can exist.
A qualified and experienced home inspector will examine the major systems in the home such as:
-Electrical
-Roofing
-Plumbing
-Heating/Air Conditioning
-Foundation
-Septic Systems
Many home inspection companies encourage you to attend the inspection and ask the inspector questions during the process and about the results of the inspection. The decision is yours to make, but you will be better informed and able to assess whether or not you want to invest in any upgrades or repairs that might be needed.
If you have any questions about home inspections or are considering whether to have one or not, I can certainly offer some advice. Feel free to contact me at 905-945-0660 or directly by e-mail at lynnfee@remax-gc.com | |
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| Posted on Thu, 04 Feb 2010, 11:37:46 AM in Statistics | | | | The Realtors' Association of Hamilton-Burlington (RAHB) just released their monthly media release about real estate in our area. Here's what they have to say!
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The Greater Hamilton-Burlington area resale market reported a total of 750 units sold in January, indicating an increase of 58 per cent over the same month last year, but a 3 per cent decrease from December 2009.
“January sales certainly returned to more normal January levels,” said Joe Ferrante, RAHB President. “The unexpectedly strong market in December of 2009 was a hard act to follow, but the market held reasonably steady for the first month of the year.”
Residential properties sold during January totalled 714 which included 574 freehold properties and 140 condominiums. Commercial sales for December, including industrial, farm, vacant land and business, totalled 36 units.
The average price of freehold residential properties sold in the month of January was $302,474, an increase of 10 per cent over the same month last year, and 1.25 per cent over last month.
In the condominium market the average price of condominiums in January was $230,583, an increase of 10 per cent from January 2009, but a decrease of 4.5 per cent from last month. The average sale price reflects the dollar volume of residential sales divided by the number of total residential units sold.
January’s total residential average sales price of $288,397 showed an increase of almost 9 per cent over the same month in 2009, and an increase of almost 1 per cent over December, 2009.
“While the January market performed at levels that are more normal, we are looking forward with caution, as there is still a great deal of economic uncertainty surrounding us. ” added Ferrante.
Unit sales reflect “all property types” including residential, condominiums, commercial property, farmland and sale of businesses.
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If you have any questions about the above article or want more information about the current market, I can always be reached at lynnfee@remax-gc.com or 905-945-0660.
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| Posted on Mon, 01 Feb 2010, 05:43:14 PM in Grimsby Events | | | | Anybody who has met me knows I love chocolate. The thought of an ALL-YOU-CAN-EAT Chocolate Fest in Grimsby is heavenly, and just in time for Valentines Day!
On Sunday, February 7, Grimsby will be hosting its very own Chocolate Fest at the Grimsby Senior's Centre, 18 Livingston Avenue. The event runs from 2-5pm, and includes all-you-can-eat-chocolate, silent auction, door prizes, kids corner, youth baking contest and Chocolate Lover's Essay contest. Come out and show your support - and enjoy some fabulous treats. Admission is $10/person; $25 for a family pass (max. 2 adults, 3 children); Kids under 5 FREE.
Enjoy! | |
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| Posted on Mon, 18 Jan 2010, 08:20:20 PM in Open House | | | | I'm often asked, “How do I prepare for an open house?” Some people believe open houses are simply an opportunity to turn on your lights, leave your home, and let the Realtor work their magic. While we work hard to “sell” your home during an open house, there are some questions you should ask your realtor, as well as some advice on what to do while preparing for your open house.
Below are some examples of questions you might want to ASK A REALTOR before your open house:
• Will you or a registered salesperson be present during the entire open house?
• Where will you advertise my open house to get the best exposure?
• Will attendees of the open house be asked to sign in?
• Will you have professional, colour feature sheets to hand out that shows them all the features of my home?
• Will you limit the number of individuals in my home at any one time to ensure my home remains safe and secure?
• Will you check all doors, windows and other access points prior to locking my home at the end of the open house?
• Will you engage those people who enter our open house to determine if they might be interested in our home and be able to answer all their questions?
• Will you follow-up with any of these people who have left their names and contact information afterwards to see if they might have questions that they didn't have a chance to answer during the open house?
• Will you provide me with feedback and information that might help me to ensure my home is as "buyer-friendly" as possible?
Below are some STEPS YOU CAN TAKE to prepare for an open house:
• Remove small valuables from view.
• Remove medications from all rooms in the home including your medicine cabinet.
• Tidy up as much as possible, putting away stray clothing hanging on doors and day-to-day "stuff" on countertops.
• If any clutter has been added back to the home since original staging & photos, now's a good time to get it put away.
• Fresh flowers (seasonal), a low-scent candle burning, even soft music can sometimes add to the overall ambience.
• If you have pets, it's very important to ensure litter has been changed as visitors will pick up scents that you don't notice.
• Best bet is to remove the pets during open house, if possible, as some visitors make assumptions and worry about allergies, etc.
• Keep your bills, credit card receipts, and bank statements out of view. You may want to store them with your other valuables.
• Take inventory/pictures of your property and what was stored so you will know quickly if anything is missing.
• Consider removing personal photographs that may be on display.
• If you have summer photos (in Winter) that display areas of your home otherwise difficult to imagine, now's the time to have a few available.
• Try to avoid the plug-in air fresheners which shout "covering smells" - instead a little cinnamon simmering on the stove is warm & inviting
• Stay away and have a fun day!
As a full-time Grimsby Realtor, I work with people like you in preparing your home for an open house. If you have any questions about open houses or have any comments regarding this post, please feel free to e-mail me at lynnfee@remax-gc.com.
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| Posted on Tue, 17 Nov 2009, 12:50:37 PM in HOLIDAY SAFETY | | HAVE A SAFE AND HAPPY HOLIDAY
Here are a few tips to help keep your holidays safe:
Indoor holiday lighting tips:
• Use only lighting sets and extension cords that bear and are specifically marked for indoor use.
• Untangle and inspect each set of lights —new or old— for worn insulation, bare/frayed wires, broken or cracked sockets, and loose connections. If you find any such damage, do not try to repair the set. Throw it away. Replace broken/damaged bulbs (unplug the set prior to changing lamps/bulbs!)
• Be careful not to overload electrical outlets. Read the manufacturer's recommendations on the number of light sets that can be strung together and other precautions listed on the packaging for the lights. If no manufacturer's instructions are available, as a general rule, never string more than three sets of lights per single extension cord.
• Protect the electrical wires from damage. Don't run lights/wires behind drapes, under carpet, through doorways, or where they will be walked on. Don't use nails or tacks to hang wires. Plastic non-conductive "hangers" are available for various holiday light-set hanging needs.
• Always unplug lights before doing any maintenance work on them and before going to bed.
Outdoor lighting considerations:
• Use only lighting sets and extension cords that are specifically marked for outdoor use.
• Always look for the manufacturer's recommendations on the number of lights sets that can be strung together and other precautions listed on the packaging for the lights.
• Check all light sets for fraying, aging, and heat damage. Throw away any sets that show signs of damage.
• Connect sets of lights to an extension cord before plugging the cord into an outlet.
• Always test your light sets before setting up your ladder —replacing broken/burnt-out bulbs is much easier on the ground than on a ladder or roof!
• To hold lights in place, string them through hooks or insulated staples; do not use nails or tacks. Never pull or tug lights to remove or disconnect them.
• Plug all outdoor electric decorations into circuits with GFI (ground fault circuit interrupter) protection to avoid potential shocks.
• If you are using a ladder, avoid contact with overhead power lines when setting up your ladder, stringing lights, or working on the roof.
• Wherever extension cords and light sets are connected together outdoors, keep the connections dry by wrapping them with friction tape or plastic.
TREE SAFETY
Fresh Trees:
When selecting your tree, shake the tree vigorously, tap it on the ground and watch for excessive loss of needles. If the tree loses a lot of needles, it's already drying out and a dry tree significantly increases the risk of the tree catching fire in your home. The trunk butt should be sticky with resin. Fresh trees should be green and the needles should be difficult to pull from the branches. Another good test is to take a single needle and bend it between your fingers. The needle should bend, not break.
• At home, secure the tree in a sturdy stand and fill the stand with adequate water. Many stores carry products designed to help you keep track of when your tree needs water. Keeping your tree well-watered will keep it supple so it retains its needles, making for less cleanup after the holidays and a lesser fire danger. Be sure to keep the stand filled with water because both cut and live trees dry out rapidly in heated rooms.
• Use only non-combustible or flame-resistant materials to trim a tree. Choose tinsel or artificial icicles of plastic or nonleaded metals.
Artificial Trees:
If you're considering an artificial tree, the most important thing to look for is the "Fire Resistant" label. This means the tree has been treated with a chemical that makes it resist burning — It does not mean the tree can't, or won't, catch on fire. NEVER use electric lights on metallic trees — use spotlights for illumination. The tree can become charged with electricity from faulty lights, and a person touching a branch could be electrocuted.
Greens:
Evergreen (but NEVER cedar) cuttings may be used in limited quantities, but keep greens away from heat sources (radiators, air vents, large appliances, light receptacles, etc.) and don't smoke near trees or greens. To be as safe as possible, greens/cuttings used for door adornment or for corridor/stairwell decorations (or really for use anywhere other than as a table centerpiece) should be flame-proofed by flocking or other treatment.
Live Tree & Greens/Cuttings Removal:
Live trees and greens/cuttings should be removed as soon as practical after the holiday for which they were used.
Candle Safety Tips:
• Make sure candles are placed in sturdy, non-combustible holders that will not tip, away from decorations, drapes, and other combustible materials.
• Check your candles frequently to make sure they don't burn down too far or drip hot wax.
• Keep small children away from candles and never leave children unattended in a room with lit candles.
• Keep matches and lighters out of the reach of children.
• Do not use candles to decorate Christmas trees.
• Extinguish candles and turn off decorative lights before leaving home or going to bed.
For holiday decorating, you should use only materials labeled as noncombustible, flame-resistant, or flame-retardant. Keep all decorations and decorating materials away from heat sources.
• These materials should never be used for holiday decorations, under any circumstances, because they are inherently combustible and/or cannot be flame-proofed: bamboo, cedar trees/branches, corn stalks/shucks, cotton or confetti (loose, in large quantities), dry moss/leaves, flammable powders/liquids, hay/straw (loose or baled), paper streamers (serpentine), plastic sheeting/pellets, sawdust, tumbleweeds, wood bark/shavings
Keep holiday plants such as mistletoe, holly berries, and Christmas cactus away from children and pets.
Poinsettias — Previously considered a poisonous plant, recent studies have shown that the poinsettia is nontoxic. Ingestion of small amounts may result in mild gastrointestinal irritation (upset stomach) and could make pets very sick.
Toy Safety:
Select toys to suit the age, abilities, skills and interest level of the intended child. Toys too advanced may pose safety hazards for younger children.
• Tips to help choose appropriate toys for children:
Magnets — For children under age six, avoid building sets with small magnets. If swallowed, serious injuries and/or death can occur.
Small Parts — For children younger than age three, avoid toys with small parts, which can cause choking. Look for sturdy construction, such as tightly-secured eyes, noses and other potential small parts.
Ride-on Toys — Riding toys, skateboards and in-line skates go fast and falls could be deadly. Helmets and safety gear should be sized to fit.
Projectile Toys — Projectile toys such as air rockets, darts and sling shots are for older children. Improper use of these toys can result in serious eye injuries. For all children under 8, avoid toys that have sharp edges and points.
Chargers and Adapters — Charging batteries should be supervised by adults. Chargers and adapters can pose thermal burn hazards to children.
Be a label reader when shopping for toys! Look for toy labels that give age and safety recommendations and use that information as a guide. And, before allowing your child to play with a toy that he has received as a gift, read the instructions carefully.
To prevent both burns and electrical shocks, don't give young children (under age ten) a toy that must be plugged into an electrical outlet. Instead, buy toys that are battery-operated. Pay attention to instructions and warnings on battery chargers. Some chargers lack any device to prevent overcharging.
Children under age three can choke on small parts contained in toys or games. Government regulations specify that toys for children under age three cannot have parts less than 1 1/4 inches in diameter and 2 1/4 inches long.
Children under age 8 can choke or suffocate on un-inflated or broken balloons. Remove strings and ribbons from toys before giving them to young children.
Immediately discard plastic wrappings on toys before they become dangerous playthings.
Watch for pull toys with strings that are more than 12 inches in length. They could be a strangulation hazard for babies.
FIREPLACE SAFETY
Fireplace chimneys should be cleaned annually, preferably by a professional chimney sweep.
Fireplaces should be equipped with a safety screen or doors, which should be kept closed at all times when the fire is lit.
Before lighting any fire, check to see that the damper is open. Remove all greens, boughs, papers, and other decorations from the fireplace area.
Use care with "fire salts," which produce colored flames when thrown on wood fires. They contain heavy metals that can cause intense gastrointestinal irritation and vomiting if eaten.
Keep them away from children and avoid inhaling smoke from their flames.
Do not burn wrapping papers in the fireplace. A flash fire may result as wrappings ignite suddenly and burn intensely.
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| Posted on Tue, 17 Nov 2009, 12:08:20 PM in ANNUAL CHILDREN'S CHRISTMAS TREE OF HOPE AUCTION | | Annual Christmas Charity Auction & Social
The Auction that Helps Give Children a Christmas
Thursday, November 19, 2009
Michelangelo Event Venue & Convention Centre
1555 Upper Ottawa St. (near Rymal Road)
Hamilton, Ontario
6:00- 9:30 p.m. - SILENT AUCTION
8:00 - 10:00 p.m. - LIVE AUCTION
Giving money to help someone you may never meet is both selfless and charitable, especially when that someone is a child in need. The CHML/Y108 Christmas Tree of Hope is not the only charitable cause you will hear about this Christmas. It is the only one of its kind that is totally focused on the betterment of life for children in the Hamilton-Burlington area.
The REALTORS® Association of Hamilton-Burlington (RAHB) Christmas Charity Auction is back and celebrating its 21st year raising funds for the CHML/Y108 Children's Fund - Christmas Tree of Hope.
Many organizations rely on the generousity of sponsors to help them deliver Christmas to needy families. But what happens when, at the last minute, a sponsor is unable to deliver on their initial promise to help. For one local charity organization, that reality came true in 2008. At the last minute, a sponsor pulled their financing of a scheduled “Breakfast with Santa” event. Organizers were faced with the very real possibility of having to call the families of 500 inner-city children, hand-picked by school teachers who were all-too-aware of the levels of poverty in which the children lived. Enter the CHML/Y108 Children’s Fund. An emergency appeal to the Christmas Tree of Hope campaign resulted in a donation of $10,000 to the event, a donation made possible through the generous support of the REALTORS® Association of Hamilton-Burlington Charity Auction. Without the direct support of the RAHB charity fundraiser, the CHML/Y108 Children’s Fund would not be able to help over 30 organizations each year, many of which lack the infrastructure to fundraise.
Source: Realtor Association of Hamilton-Burlington
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| Posted on Tue, 17 Nov 2009, 11:10:48 AM in GRIMSBY'S WINTER EVENTS | | GRIMSBY'S
WINTER GREEN FESTIVAL
EVENTS & ACTIVITIES
November 13 - December 5, 2009
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PENINSULA PLAYERS COMMUNITY THEATRE PRODUCTION
"A BAD YEAR FOR TOMATOES"
Opening Night Wine and Cheese Gala
For times and other information visit www.grimsbygreen.yahoo.com
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FANTASY OF TREES
Opening Night Thur. Nov. 19, 7:00 -9:00 p.m.
Grimsby Museum, 6 Murray Street
Grimsby High School students singing Christmas Carols lead a candle-lit procession through town to the Museum, for the offical tree-lighting ceremony and then first viewing of the spectacular tree display. Free Admission
For times and other information visit: www.grimsbygreen@yahoo.com
Fabulous trees, wreaths and other colourful Christmas displays are decorated and sponsored by local businesses. Procceds from ticket draws for trees are for McNally House Hospice and other local charities.
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COLOUR ME WINTER
Sun. Nov. 29, 1:00 - 4:00 p.m.
Grimsby Public Art Gallery
18 Caregie Lane (corner of Ontario and Adlaides Streets)
Free Admission
A seasonal open house, featuring story telling and art activities for all ages, sing-a-long with Stan and a special visit from Santa. Refreshments will be served. This event is family friendly - all are welcome!
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GRIMSBY SANTA CLAUS PARADE
Sat. December 5th, Starting at 5:15 p.m.
(From Town Hall, Livingston Avenue to Town Clock at Ontario St.)
The sparkling Grimsby Santa Claus Parade has entertained the community for over 50 years. With all the lights, magic and charm, its no wonder this special parade has become a tradition for Grimsby's holiday celebrations!
For more information grimsbygreen@yahoo.com
Source: Niagara This Week
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