Some Questions For Your Home Inspector

March 3rd, 2010 by admin in Uncategorized

Q: HOW LONG HAVE YOU BEEN IN BUSINESS?
A: Home inspectors come and go. The long time firms are here to stay. They’ll be here if you have a question or a problem down the road. Carson, Dunlop is one company that has been in business since 1978.

Q: WHAT ARE YOUR INSPECTORS’ QUALIFICATIONS?
A: The industry is essentially unregulated. Anyone can call themselves a home inspector. 

Q: CAN I FOLLOW ALONG AT THE INSPECTION?
A: If they won’t let you go to the inspection, don’t use them.  This is a valuable learning experience for most home buyers. It is the perfect opportunity to ask specific questions about the condition of the home. Also, where defects are identified, the engineer can discuss these so that you understand what repairs are required, when and at roughly what cost.  

Q: HOW MUCH DOES AN INSPECTION COST?
A: Some factors will affect the fee. If you are comparing home inspection firms, the fee charged should not be the sole deciding factor, unless of course the level of service offered is identical.  

Q: DO YOU PROVIDE A WRITTEN REPORT?
A: Yes is the only answer.


Do You Know Your Credit Score?

January 4th, 2010 by admin in Good To Know, Homes & Condos, Mortgages, Real Estate Trends, Uncategorized

Have you applied for credit or a mortgage recently?  If you haven’t, it is probably a good idea to obtain a copy of your Credit Report and it would be optimal to get a report at least once a year. 

A great idea to start off in 2010!

In our new era of technology and with the advent of numberous instances of identity theft, knowing what is on your credit report is the only way for you to protect yourself in real time.  You can obtain a credit report listing only your debt obligations or you can also include your FICO score which shows you how you are rated for lender’s risk.

There are two major Credit Bureaus operating in Canada; Equifax Canada and Trans Union Canada

A credit report is a history of how consistently you pay your financial obligations. A credit report is created when you first borrow money or apply for credit. On a regular basis, the companies that lend money or issue credit cards to you (banks, finance companies, credit unions, retailers, etc.) send the credit reporting agencies specific and factual information about their financial relationship with you – when you opened up your account, if you make your payments on time, if you miss a payment, or if you have gone over your credit limit, etc.

The Credit Bureaus receive this information directly from the financial and retail institutions and retains it to help other lenders make decisions about granting you credit. Because your credit report contains all the information received from your lenders and provides a picture of your financial health, other lenders will request your report when they are determining whether or not to grant you a loan. Your credit report is a history that will help them determine what kind of lending risk you are – if you are likely to repay your obligation on time or not.

Here is a list of major sections found in your credit report;

  • Personal Identification – Includes key identification information, such as your name, address, date of birth and Social Insurance Number (SIN)
  • Consumer Statement – Allows you, the consumer, to add a brief comment about any information in your report
  • Credit Information – Provides details of your credit accounts and transactions and shows if payments are being made on time
  • Banking Information – Includes information on your bank account and NSF cheque history
  • Public Record Information – Contains information about secured loans, bankruptcies and/or judgments
  • Third-Party Collections – Contains information about any involvement with a collection agency trying to collect on a debt

Inquiries – Includes all organizations or individuals that have requested a copy of your credit report in the past three years


First Time Buyer?

November 24th, 2009 by admin in Uncategorized

Are you a Real Estate newbie?  Perhaps you are looking to jump into home ownership – well, you couldn’t pick a better time to be able to afford becoming a home owner.  Please feel free to use the mortgage calculator on my website oakvillehomesandcondos - just plug in the figures needed and the calculator will let you know what your overhead will be.

Interest Rates – currently at all time low rates, check out the current rates offered at RBC  for both variable and fixed and contact a mortgage broker to get your rate approved and locked in so that when you are ready to proceed with your purchase there are no unnecessary delays.

Find a Realtor that you are comfortable with – this is a big decision and you need to work with a Professional who will put your needs first and give you all the necessary information you need in order to make a wise decision.  Go through some Open Houses in the area that interests you with your Realtor - this will give you a guideline as to what you can get in your price range.

You will need the services of a Home Inspector at the time you make an offer to buy a house, your Realtor will be able to help you with this introduction. 

Happy hunting!


RBC Predicts Rebound

September 16th, 2009 by admin in Good To Know, Mortgages, Real Estate Trends

The Canadian economy will return to growth this fall, economists at the Royal Bank predicted this week.

A report released by the bank’s research and forecasting branch, RBC Economics, forecasts that when Ottawa’s GDP numbers for the quarter are released, they will show that aggressive government stimulus programs have been effective.

The report predicted growth of 2.0 per cent in the latest three months, 2.4 per cent in the last three months of 2009, and 2.6 per cent in the three months to March 2010, driven by a sharp pickup in auto production and a recovery in housing sales.  RBC Economics sees auto production and housing sales picking up. It said the economy contracted at an average of 3.4 per cent in the three months to June but predicted the latest downturn will turn out to be the least severe of the past three recessions.

“Improved financial markets, low borrowing rates and fiscal stimulus have moved Canada’s economy forward,” said RBC chief economist Craig Wright.

Consumer spending will take longer to recover, the report said. It predicted the unemployment rate — now 8.7 per cent — will likely head higher by the end of 2009, but will begin to fall early next year and that that will lead consumers to borrow and spend more.

The report predicted that inflation will stay below the Bank of Canada’s target rate of two per cent because consumers will constrain spending as job creation will happen only slowly.

RBC revised its growth forecast for the U.S. — Canada’s biggest trading partner — based on improving economic data there. It increased its estimated growth rate to 1.9 per cent in the second half of this year and 2.2 per cent on average for 2010.

The bank predicted that U.S. unemployment will peak at 10.0 per cent late this year and drop to only 9.7 per cent by the end of 2010.


Going Greener

September 8th, 2009 by admin in Good To Know

During the past year CBC launched a consumer awareness campaign called “One Million Acts of Green” asking the public to take notice of how they were living to see if they could make changes in the most simple things.  Here are just a few of the examples;

  • Air dry clother
  • Avoid using disposable plates, cups and cutlery
  • Carpool
  • Caulk your drafty windows and doors
  • Check your tire inflation
  • Replace your furnace filter regularly
  • Recycle
  • Use your green bin
  • Turn out the lights when they aren’t needed

Because of the huge success of this campaign, the site has now gone international and you can find out more information from the following link green nexus


Green Tips for the Summer at Home

July 22nd, 2009 by admin in Good To Know, Uncategorized

It’s a wonderful time of year, even if you aren’t able to get away for a holiday. Weekends fill with barbecues, friends and family, and evenings spent sitting under the stars on the deck.  But, after a delicious grilled meal, you’re left with loads of dishes and a sticky barbecue. That residue can affect the cooking time of your next meal, and it could also change the flavour and stick to the food you’re preparing.

Cleaning the grill thoroughly is the best way to deal with it. Doing it right away makes it easier. And, believe it or not, there is a way to get it thoroughly clean without noxious sprays. Taking care of your grill properly means it will last for many barbecues and will be healthier to cook on.

– Cover it up! Close the lid of your barbecue, which will allow the temperature to rise to the maximum and avoid a loss of heat, which is a crucial part of the cleaning process.

– Make it hot, hot, hot! Turn up the burner heat to high. Wait until the temperature has reached the maximum at the top of the thermometer. If you have no thermometer or other temperature readers, wait for five minutes to let the heat build up. Then shut everything off and open the lid.

– Brush it off! Use a wire brush to scrape off the ashes of what was once sticky residue. This type of brush is your best bet, as its bristles can handle the heat and will not melt or catch fire.

– Try a DIY cleaner: You can clean your grill with a barbecue brush and a thick paste of baking soda and water. Or, cut an onion in half and rub it over a heated rack. Follow up by brushing a bit of olive oil on it so the food doesn’t stick.

And, with summer comes those pesky bugs — which can quickly ruin an evening of outdoor entertaining. Try repelling them with these green home remedies:

– Scare off ants and other tiny insects around the house and garden with this mixture: Boil two or three cups of water. Add about 1/2 to 2/3 a cup of chopped hot pepper. Let the mixture marinate for a few minutes, then run it through a sieve to remove the peppers. Pour the liquid into a squirt bottle and use as necessary. Be careful not to spray it directly on foliage.

– Try dabbing a little pure vanilla extract behind your ears and on your wrists and neck. Many insects don’t like the smell.

– To deter mosquitoes, rub a lavender flower behind your ears, wrists and neck. You’ll smell great and the bugs will leave you alone!

– Consuming garlic is meant to keep mosquitoes away, but garlic breath isn’t very sociable. Eating basil also keeps the insects at bay, and smells a lot sweeter.

– You can make your own bug spray by mixing witch hazel with a few drops of tea tree oil, lavender oil or peppermint oil in a squirt bottle. Lightly mist your body. Or add any of these essential oils to an unscented lotion for a bug repelling moisturizer.

– If you do happen to get a bite, place a wet tea bag on insect bites to relieve pain and swelling, or try witch hazel, a natural remedy available at grocery and drug stores.

Have a great summer//Linda Duggan

 


Lots Happening in June in Oakville

June 8th, 2009 by admin in Oakville Info

Here are just a few of the exciting happenings going on in June in Oakville, check out some of the links and see if you might like to drop by.  There a many fine shops and restaurants to help you spend some quality time, have fun!

Oakville Waterfront Festival; June 26, 27, 28, named one of the top 50 festivals in Ontario.

RBC CANADIAN OPEN; July 20-26 at the Glen Abbey Golf Course.

DOWNTOWN OAKVILLE SIDEWALK SALE; June 18-20


Good Time To Buy

May 5th, 2009 by admin in Real Estate Trends, Uncategorized

To buy or not to buy?  That is the question facing potential first-time homebuyers who are weighing the benefits and risks of jumping into the housing market in the midst of this uncertain time.

Until recently, many first-time buyers were priced out of real estate markets by frenzied bidding wars that sent prices into the stratosphere.  But the global recession has brought many housing markets back closer to Earth and, in the process, presented opportunities for first-time home buyers. House prices have corrected and mortgage rates are at all time lows. That means that buying a house has become more affordable. But buying and borrowing costs aren’t the only factors potential homebuyers have to consider.

That has left potential homebuyers in a dilemma. Can they afford to pass up a chance to get into the housing market?

The best way for first-time buyers to assess whether they can comfortably afford to buy in the price range they are considering is to apply for a pre-approved mortgage.  That process involves taking a close look at your down payment, household income, debts and liabilities, estimated monthly housing costs and spending patterns.

In this uncertain employment environment, potential homebuyers also should make sure they have built up an emergency fund to cover their mortgage costs.

But if you do have some employment certainty, you have a reasonably good credit profile and you have your emergency fund, and you’re sort of secured for a normal course of events and even somewhat a downturn in events, then it’s a good time to buy!


Glen Abbey Condo Townhouse

April 11th, 2009 by admin in Homes & Condos, Real Estate Trends, Uncategorized
Style & Substance

Style & Substance

 Absolutley gorgeous Condo Townhouse

Adjacent to Glen Abbey Golf Course, hardwood throughout entire main level and stairs, upgraded Hinkley light fixtures and pot lights.  9 FT ceilings, neutral decor, kitchen has white high built cabinets with built in appliances.  2 fireplaces, custom interlock patio and much more, 499,900.00. 

See more details at oakvillehomesandcondos.com


The Spring Market Is Here!

April 3rd, 2009 by admin in Real Estate Trends

Spring has arrived!  Milton is a vibrant community located only 10 minutes north of Oakville.  Activity in the Milton resale housing market soared in March.  Residential re-sales in Milton increased by 42% in March 2009 compared to March 2008.

 

Driving this phenomenon is a multitude of factors.  Milton is a community where affordable home ownership is still possible, as well, a town that has the charm of a small rural community, yet close to all the big city amenities.  The population is younger, educated and diverse and they are the key drivers behind a lot of the real estate activity in Milton.

 

Low mortgage rates, affordable home prices and location measure favourably with those moving to the Milton community.  The Oakville residential resale market also demonstrated healthy activity in March with a 34% increase in re-sales for February 2009. 

 

Typically, the spring real estate market tends to experience more activity. With the Bank of Canada dropping its prime lending rate this month, those in the market for a home will see mortgage rates at near record lows. This combined with the federal government’s decision to increase the withdrawal amount in the Home Buyers Plan from $20,000 to $25,000 will make buying a home a little easier.

 

If you are contemplating a purchase, this is the time to make your move!