The Bank of Canada has left the key lending rate as is at 0.25%. There has been no change since April 21, 2009.
According to the January 19th report, “Conditional on the outlook for inflation, the target overnight rate can be expected to remain at its current level until the end of the second quarter of 2010.”
The Bank of Canada introduced a system in 2000, of eight dates each year to announce any changes to the target rate.
The next meeting will be on March 2, 2010.
Current Mortgage Rates
Prime Rate 2.25%
Variable Open Prime +.60%
Variable Closed Prime - .20%
1 Year Closed 2.55%
2 Year Closed 2.95%
3 Year Closed 3.45%
5 Year Closed 3.89%
7 Year Closed 5.25%
10 Year Closed 5.34%
**Lower “quick close” rates available
CINDY MASON
MORTGAGE AGENT,
FSCO LIC.# MO8004144
MORCAN FINANCIAL INC.
Tel. 1-800-441-5425 ext. 1
Cel. 1-800-441-5425 ext. 2
Fax. 905-852-1379
cmason@morcan.ca
Thursday, January 28, 2010
Wednesday, January 27, 2010
Home Buyer's Check List
Home Buyer’s Checklist
For most people buying a home would represent the largest purchase they will ever make in their lifetime, therefore it is essential to make sure that any home, new or old, is inspected by a qualified and insured home inspector prior to finalizing any transaction. Real estate sales representatives fulfill an important role in this process as well and can save you time, money and aggravation by pointing the important factors that will determine the value of your new home.
Below you will find a check-list that will help you identify some of the issues that would come up on the home inspection report:
Exterior
Driveway and Walkway – Cracks and level (interlock)
Trees – Size and proximity to house.
Foundation – Cracks and slopes (down spout and -grade away from foundation)
Garage door – Age, condition of paint and condition of wood, safety sensors.
Fascia, Eaves trough – Type and overall condition (wood/aluminum)
Roof – How many layers of shingles and how old? Noticeable repairs and defects (sagging)
Chimney – Condition of bricks and mortar.
Doors & Windows – Are there any signs of leaks or rot? Do they open and close properly? (settlement)
Air condition unit – Age, signs of rust. (check noise if working)
Interior
Floors – Type, age and condition (are they leveled or squeaky?)
Walls & Ceilings – Any signs of cracks or leaks? Any discoloration? (ceiling underneath bathroom)
Kitchen – Age, type, condition of appliances (any signs of insects? leaks?)
Bathrooms – Condition of tiles and overall fixtures. Is there a vent? Any signs of mildew?
Windows – Any signs of water leaks? Condition of wood and overall operation.
Patio door – Age, type, condition of locking mechanism.
Fireplace – Type(wood/gas)? does it function properly? Condition of mantel?
Basement
Finished or not? – Water leaks? Water trails on foundation, walls, carpets, windows etc.
Cracks – Are there any major cracks in the floors or walls. (settlement cracks)
Ventilation – Is it adequate? Is there any sign of moisture?
Windows – Size, how many? general condition, any window well?
Furnace – Age, type, signs of rust, what kind of filter? Is there a humidifier?
Water heater – Type (gas/electric), size and general condition. Is it a rental?
Electrical system – Type (fuses/breakers), size (60/100/200 amp) wiring (aluminum/copper)
Plumbing – Type of water and waste lines (plastic/galvanized) water pressure? Overall drainage?
Termites – Any signs of mud tunnels, damaged wood or wing sheds.
PLEASE NOTE!! IT IS STRONGLY RECOMMENDED TO USE A HOME INSPECTOR PRIOR TO PURCHASING ANY HOME.
Alon Hillel
Sales Representative
www.GetBenczik.com
For most people buying a home would represent the largest purchase they will ever make in their lifetime, therefore it is essential to make sure that any home, new or old, is inspected by a qualified and insured home inspector prior to finalizing any transaction. Real estate sales representatives fulfill an important role in this process as well and can save you time, money and aggravation by pointing the important factors that will determine the value of your new home.
Below you will find a check-list that will help you identify some of the issues that would come up on the home inspection report:
Exterior
Driveway and Walkway – Cracks and level (interlock)
Trees – Size and proximity to house.
Foundation – Cracks and slopes (down spout and -grade away from foundation)
Garage door – Age, condition of paint and condition of wood, safety sensors.
Fascia, Eaves trough – Type and overall condition (wood/aluminum)
Roof – How many layers of shingles and how old? Noticeable repairs and defects (sagging)
Chimney – Condition of bricks and mortar.
Doors & Windows – Are there any signs of leaks or rot? Do they open and close properly? (settlement)
Air condition unit – Age, signs of rust. (check noise if working)
Interior
Floors – Type, age and condition (are they leveled or squeaky?)
Walls & Ceilings – Any signs of cracks or leaks? Any discoloration? (ceiling underneath bathroom)
Kitchen – Age, type, condition of appliances (any signs of insects? leaks?)
Bathrooms – Condition of tiles and overall fixtures. Is there a vent? Any signs of mildew?
Windows – Any signs of water leaks? Condition of wood and overall operation.
Patio door – Age, type, condition of locking mechanism.
Fireplace – Type(wood/gas)? does it function properly? Condition of mantel?
Basement
Finished or not? – Water leaks? Water trails on foundation, walls, carpets, windows etc.
Cracks – Are there any major cracks in the floors or walls. (settlement cracks)
Ventilation – Is it adequate? Is there any sign of moisture?
Windows – Size, how many? general condition, any window well?
Furnace – Age, type, signs of rust, what kind of filter? Is there a humidifier?
Water heater – Type (gas/electric), size and general condition. Is it a rental?
Electrical system – Type (fuses/breakers), size (60/100/200 amp) wiring (aluminum/copper)
Plumbing – Type of water and waste lines (plastic/galvanized) water pressure? Overall drainage?
Termites – Any signs of mud tunnels, damaged wood or wing sheds.
PLEASE NOTE!! IT IS STRONGLY RECOMMENDED TO USE A HOME INSPECTOR PRIOR TO PURCHASING ANY HOME.
Alon Hillel
Sales Representative
www.GetBenczik.com
Monday, January 25, 2010
We Have Motivated Buyers Looking For A Home
If you are looking to sell your home in the Markham, Stouffville, Unionville or GTA, we might have the right buyer for you!
Markham/Unionville Area
- 2 Bedroom Condo at Hunt Club or Austin Building, 1,800-2,300 Sq. Ft.
- Unionville 4 Bedroom Home with In-Ground Pool, $650K-$850K
- Bungalow or Semi-Bungalow with Basement Apartment, $350K-$450K
Stouffville Area
- URGENT buyer looking for a newer 2,800-3,200 Sq.Ft. Home in Stouffville, $500-$600K
- Stouffville Estate Lot with Pool & Finished Basement $675K - $750K
If you are thinking of selling your home please call us at 905-477-7766. The market is very active and it's a great time to sell!
We give Free Home Evaluations, Any Time, No Cost, No Obligations!
Markham/Unionville Area
- 2 Bedroom Condo at Hunt Club or Austin Building, 1,800-2,300 Sq. Ft.
- Unionville 4 Bedroom Home with In-Ground Pool, $650K-$850K
- Bungalow or Semi-Bungalow with Basement Apartment, $350K-$450K
Stouffville Area
- URGENT buyer looking for a newer 2,800-3,200 Sq.Ft. Home in Stouffville, $500-$600K
- Stouffville Estate Lot with Pool & Finished Basement $675K - $750K
If you are thinking of selling your home please call us at 905-477-7766. The market is very active and it's a great time to sell!
We give Free Home Evaluations, Any Time, No Cost, No Obligations!
Friday, January 22, 2010
What is a Home Energy Evaluation and why should we care?
A Home Energy Evaluation is an audit performed on a residential property by an Energy Advisor that's been licensed by Natural Resources Canada. The goal is to assess how energy efficient and environmentally friendly your house is. The Energy Advisor will assess this by examining your existing heating and cooling systems, measuring drafts coming through windows and doors, examining ductwork and plumbing, etc. The Advisor will provide you with a report that gives an "EnerGuide Rating" to your home, along with recommendations on things you can buy or implement to improve your home's energy efficiency.
The table below illustrates the typical EnerGuide Rating based on type of house.
Home EnerGuide Rating Chart
Type of House / Average Rating
Older house not upgraded /0 - 50
Upgraded old house / 51 - 60
Energy efficient upgraded old house or typical new house / 66 - 74
Energy efficient new house / 75 - 79
Highly energy efficient new house / 80 - 90
An “advanced house” that uses little to no purchased energy / 91 -100
ENERGY EVALUATION TO SELL YOUR HOME
Of course, if you are considering selling your home, being able to show a report with an acceptable or above-average EnerGuide rating to potential buyers will make your home more attractive.
In the near future, Energy Audit reports may be required as a condition of selling your home. There are a few variables, and a few directions that legislation can go, so I won't get into all the details here.
ENERGY EVALUATION WHEN STAYING IN YOUR HOME
A happy biproduct of having an Energy Evaluation is that by purchasing items or services that your advisor has officially recommended, e.g. Install a new furnace, replace a toilet, you become eligible for huge rebates from both the federal and provincial government.
Therefore, if you're considering doing a renovation anyway, it definitely makes sense to invest in an audit because it may allow you to apply for rebates for items you may have been planning to purchase all along.
This table is an example of just some of the grant amounts available to owners of Single Family Residences from the Federal and Ontario provincial government:
Item / Grant
Windows, doors, skylights (must be Energy Star compliant)
/ $80 per unit replaced
Instantaneous hot water heater (must be Energy Star compliant)
/ $750
Low flush toilets (max of 4 units per home)/ $130 each
I hope you find this information helpful! Bottom line is, implementing Energy Efficient systems in your house is a way to save the environment, save you money, and add value to your house.
Susan Taylor
susan@getbenczik.com
Salesperson
Leslie Benczik Team
Re/Max All-Stars Realty Inc., Brokerage
The table below illustrates the typical EnerGuide Rating based on type of house.
Home EnerGuide Rating Chart
Type of House / Average Rating
Older house not upgraded /0 - 50
Upgraded old house / 51 - 60
Energy efficient upgraded old house or typical new house / 66 - 74
Energy efficient new house / 75 - 79
Highly energy efficient new house / 80 - 90
An “advanced house” that uses little to no purchased energy / 91 -100
ENERGY EVALUATION TO SELL YOUR HOME
Of course, if you are considering selling your home, being able to show a report with an acceptable or above-average EnerGuide rating to potential buyers will make your home more attractive.
In the near future, Energy Audit reports may be required as a condition of selling your home. There are a few variables, and a few directions that legislation can go, so I won't get into all the details here.
ENERGY EVALUATION WHEN STAYING IN YOUR HOME
A happy biproduct of having an Energy Evaluation is that by purchasing items or services that your advisor has officially recommended, e.g. Install a new furnace, replace a toilet, you become eligible for huge rebates from both the federal and provincial government.
Therefore, if you're considering doing a renovation anyway, it definitely makes sense to invest in an audit because it may allow you to apply for rebates for items you may have been planning to purchase all along.
This table is an example of just some of the grant amounts available to owners of Single Family Residences from the Federal and Ontario provincial government:
Item / Grant
Windows, doors, skylights (must be Energy Star compliant)
/ $80 per unit replaced
Instantaneous hot water heater (must be Energy Star compliant)
/ $750
Low flush toilets (max of 4 units per home)/ $130 each
I hope you find this information helpful! Bottom line is, implementing Energy Efficient systems in your house is a way to save the environment, save you money, and add value to your house.
Susan Taylor
susan@getbenczik.com
Salesperson
Leslie Benczik Team
Re/Max All-Stars Realty Inc., Brokerage
Thursday, January 21, 2010
Fasten your seatbelts, home buyers
Rob Carrick from The Globe and Mail had published a great article early this month. If you didn't catch it, here is the link to the article title "Fasten your seatbelts home buyers." (Published Tuesday, January 5, 2010).
This article is definitely worth the read. http://www.theglobeandmail.com/globe-investor/personal-finance/fasten-your-seatbelts-home-buyers/article1419098/
Enjoy!
This article is definitely worth the read. http://www.theglobeandmail.com/globe-investor/personal-finance/fasten-your-seatbelts-home-buyers/article1419098/
Enjoy!
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