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​CMHC fees may see increases

CMHC fee increases could add hundreds of dollars to mortgage cost CMHC is to triple the charges it makes to some financial institutions. The fee increases will be for guaranteeing loans in the mortgage-backed securities market, which the agency operates under the National Housing Act. Some experts are predicting that the hike in fees will filter down to homebuyers with the likelihood of a few hundred ...

November sales in Ottawa......

Members of the Ottawa Real Estate Board sold 893 residential properties in November through the Board's Multiple Listing Service® system, compared with 888 in November 2013, an increase of 0.6 per cent. The five-year average for November sales is 935. "Sales have been remarkably similar to last year overall, with units sold for the first eleven months of the year at 13,291, just slightly above ...

GOLOMBEK: When writing off moving expenses, the route you take matters

Financial Post If you move, you can write off your moving expenses on your tax return provided the distance between your old residence and your new work location is at least 40 kilometres greater than the distance between your new residence and the new work location. A recent tax case decided earlier this month focused on how the 40 kilometre distance should be measured. Full article – http://tinyurl.com/m6p8an8 ...

Get a Mortgage Pre-Approval Before You Start Shopping For a Home

It’s a very good idea to get a pre-approved mortgage before you start shopping. Many realtors will ask if you’ve been approved. A lender will look at your finances and figure the amount of mortgage you can afford. Then the lender will give you a written confirmation, or certificate, for a fixed interest rate. This confirmation will be good for a specific period of time. A pre-approved mortgage is not ...

Are you financially ready to buy a new home?

How can you know if you are financially ready to become a homeowner? This step guides you through some simple calculations to figure out your current financial situation, and the maximum home price that you should consider. How Much are You Spending Now?Calculate Your Household ExpensesStart figuring out your financial readiness by evaluating your present householdbudget. How much are you spending ...

Is Homeownership Right for You?

So, you’ve finally decided to fulfill a lifelong dream and buy your own home… how exciting! You are ready to fulfill your dream of having a place to call your own.Buying a home is one of the biggest emotional and financial decisions you'll ever make. Prepare by learning about the process of homebuying and the responsibilities of homeownership. The differences between renting and buying a home ...

Curb Appeal

Curb appeal is the first impression a house makes through anything that can be seen from the street. This includes everything from the foundation right up to the chimney. It includes not only the house itself, but the landscaping, yards, grass, fencing, sidewalks and driveway. In real estate, first impressions really do matter. This is why an agent will often park across the street from the house- ...

"Landlords can't increase rents over the rent increase guideline, right?"

I get this question TOO often and I find it strange that so many people, even people actively involved in the industry, don't know about it. When I started investing in rental properties, my biggest fears were  1. having a professional-tenant (one of those tenants that knows all the ins and outs of the law to benefit himself or get away with not paying rent for a couple of weeks) and...  ...

Carbon Monoxide Detectors

Here is Some Info You Should Know!! Please be advised that effective as of October 15th 2014, carbon monoxide detectors are required in all existing residential buildings (i.e houses, apartments and condos) that have a fuel-burning appliance, fireplace or an attached garage. Some common examples of fuel-burning appliances include gas furnace, gas water heater, gas stove, and gas dryer. Examples of ...