On January 17,2011 Federal Finance Minister Jim Flaherty announced changes to government insured mortgages and new regulations to take effect on April 18,2011. Full details can be found on the Federal Government’s web page.
The new changes are:
Reduce the maximum amortization period to 30 years from 35 years for new government-backed insured mortgages with loan-to-value ...
Posted by Joel Ives
on January 19, 2011
April is Open House Month at Century 21 Colonial Realty Inc.
We are hosting many open houses on the weekends in April. At each open house agents will be handing out coupon cards with the following offers:
Purchase a home through one of our agents and receive 100 Bonus Air Miles Reward Miles. Contract has to be in place on or before May 31, 2010
This is on top of the National Bonus ...
Posted by Joel Ives
on April 16, 2010
The new mortgage rules recently announced by the Government of Canada thru CMHC left a few lingering questions. For the most part the new rules raised the bar for most borrower classes with an eye toward making it somewhat harder to get mortgage financing. Speculators were hardest hit as the Down-payment threshold for CMHC coverage for non-owner occupied dwellings was lowered to 20%, speculators ...
Posted by Ritchie Simpson
on March 8, 2010
On February 16 Finance Minister Jim Flaherty announced changes to government insured mortgages. You can read the full release here
If you are like me..you read real quick and sometimes don't get the full explanation and can get bogged down by the details...so
First off---
YOU DONT NEED 20% DOWNPAYMENT TO BUY A HOUSE TO LIVE IN !
The changes are :
Require that all borrowers meet the ...
Posted by Joel Ives
on February 17, 2010
If your thinking about purchasing your very first home your most likely a little nervous. After all you've probably heard that buying a home is the single most important financial decision you will ever make and for most people this is true. After spending a lot of time with first time home buyers I see Three major areas of concern.
The number one concern is ...
Posted by David Doiron
on February 6, 2010
Since last week was Thanksgiving there wasn't as many open houses but this weekend there are many around the Greater Charlottetown area and also in Millcove and Covehead. Single family homes as well as a condo.
You can see what houses through Century 21 Colonial Realty are open by going to our open house site www.openhouses21.com and do a preview of the homes/
Meet one of our agents ...
Posted by Joel Ives
on October 16, 2009
As we get to the Stanley Cup final we as Canadians are excited but also wondering what we are going to do when it is over as we are not known to get overly excited about watching other sports on TV and many start counting down the days to the start of the next season.
The PEI real estate market in the Spring is a lot like the playoffs...you can start searching at properties ...
Posted by Joel Ives
on May 28, 2009
Below is information that was released by Century 21 Canada for various areas of the country.
Let's face it, nobody wants to be average. It's the terrain of the unremarkable-the realm of the safe middle ground. But while "average" is by its very definition nothing to brag about, it does have its place in our world. It shows us the big picture. It reminds us where we stand, right?
Well, to ...
Posted by Joel Ives
on May 25, 2009
Money for Nothing
Below is a great article that was written from one of my oldest friends who I have coffee with every Saturday morning while our daughters go to dance class....more things than mortgage rates have changed with us since 1985.
The article explains the question or the statement from people "Who are building all these houses? and Where are they coming from ? I have asked him if I ...
Posted by Joel Ives
on May 15, 2009
Monday, April 13, 2009 - Lead story on Compass (local CBC News show) is about the bright and sunny outlook for the Real Estate market in Prince Edward Island. The latest MLS sales statistics show that the sales for the first quarter here on PEI are bucking the trends in big cities, and are acutally up. Watch the video here:
Posted by Kelly Lantz
on April 19, 2009