| Recent Blog Posts by Marcus Kallweit | ||
Real Estate TrendsEvery year, the Canadian Housing and Mortgage Corporation publishes very valuable information on the Canadian Real Estate Market and Housing trends. Find all the details at www.chmc.ca/observer for this years update.
Posted by Marcus Kallweit
on January 10, 2012
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Housing MarketMedia publishes forcasts that Canadian property prices will fall or flatten over the next years. Well, nobody knows the future. Generally speaking: everything which goes up must come down. Property prices you read speak of ENTIRE Canada. There are areas where property prices did go down in the last years, mainly in areas which were 'hit' by the recession more then others. Chances are that ...
Posted by Marcus Kallweit
on July 22, 2011
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Kitchener Waterloo Real EstateNational average home prices have increased by about 8% over year in the last 3 month despite a little slowdown in house sales. Owning a home still remains quite affordable. The expectations for Kitchener Waterloo area is to grow to around a population of 700,000 in the next 15 years. With more people coming to our fine area and less land to build on, real estate could be a pretty good investment.
Posted by Marcus Kallweit
on May 24, 2011
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Home EvaluationsHome Evaluations are of course very important, if Selling your home, to see what the fair market value is. BUT it is also very important to have a Market evaluation done on the property you are about to buy. Buying a home is one of the largest investments you do in your life, you do not want to pay to much.
Posted by Marcus Kallweit
on April 19, 2011
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Pipes may need replacementIf you have black pipes, known as ABS pipes, venting your natural gas Water Heater or Furnace, the might need to be replaced with with plastic pipes commonly known as system 636. This new regulation came in effect in 2007. Replace those pipes immediately if the are cracked. Have the tested. Your families health should be worth the expense.Those cracked pipes can release carbon monoxide.
Posted by Marcus Kallweit
on March 12, 2011
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Mortgage RulesStarting March 18/2011 there will be some changes, again, to the mortgage industry:
1- Maximum amortization time will be reduced from 35 years to 30 years which can make a difference of around $ 100 in payments on a $ 300,000 Mortgage
2- The maximum Canadians can borrow to refinance their mortgage will be lowered from 90% to 85%
Posted by Marcus Kallweit
on January 18, 2011
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Comunity Support ConnectionsTook my Family to Cambridge this Saturday to join the event The Mayor's Soup Sampler. This event supports Meals On Wheels. Different Restaurants Caterers and Organisations from Cambridge served samples of soup to support AND it was delicious. Select Service Caterers had an excellent Smoked Corn Chowder....simply mouth watering. A great idea to support a good cause.
Posted by Marcus Kallweit
on October 23, 2010
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New Mortgage Rules1. All borrowers must meet the standards for a 5 year fixed rate mortgage, even if they chose a lower interest or shorter term mortgage.
2. The maximum amount one can withdrawal in re-financing their mortgage will be reduced to 90% from a current 95% of the value of one' home.
3.Non-Owner occupied properties will require a minimum Down payment of 20%
No other changes to current down payment ...
Posted by Marcus Kallweit
on February 18, 2010
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Buying a homeReal Estate is said to be very busy in the first half in 2010.
Reasons are that the interest rates most likely will go up, they most likely will not continue to be at this record low.
Second reason is the implementation of the HST starting July 2010
For the average Ontario home priced at around $ 300,000.00 the HST will add around $ 1500.00 to closing costs.
If you think you should wait a little ...
Posted by Marcus Kallweit
on February 5, 2010
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Why wait till spring?Historically, the real estate market will slow down over the winter season. Most people want to wait till spring to look and purchase their new home. Why Wait? If there are less buyers on the market, you might get a better deal! Everybody talks about interest rates will go up. If you wait till spring, you might pay more for a property because of more buying competition, and you might have to pay higher ...
Posted by Marcus Kallweit
on December 3, 2009
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Value of Real Estate in Kitchener WaterlooThe Kitchener/Waterloo Real Estate Board announced today that the average sale price in October was $ 255,190.00. Ten years ago it was $ $ 149,486.00. Real Estate seems to be still a good investment in the area. Buying a home might be a great step ahead into someones future, renting might not be as profitable
Posted by Marcus Kallweit
on November 5, 2009
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Your First HomeThere are a few financial details every first time buyer needs to know:
A temporary home renovation tax credit is available for home renovations and alteration projects begun and completed before Feb. 2010. The credit applies to expenses between $ 1,000 and 10,000 (max. tax credit will be $ 1,350)
Change to the first time home buyer 'RRSP' plans with increase withdrawal limit to $ 25,000 form $ ...
Posted by Marcus Kallweit
on October 3, 2009
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Title InsuranceI am a very strong believer in Title insurance, not only if you buying a new home.
Over the last years, fraud has become a increasingly a huge issue. Even so, you have done nothing wrong, suddenly a 2 nd mortgage appears on your title, and you can prove that it is not yours..............you will pay a lawyer to sort the problem out. Title insurance is much cheaper in that case. Talk to your ...
Posted by Marcus Kallweit
on September 11, 2009
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Which Mortgage is right for youYou went to the bank and got pre-approved. They told you how much you can afford and what your payments are. They gave you all kinds of numbers, maybe, but did they explain what they mean and what is in your best interest. Prime rate is still very low for variable mortgages, fixed rates are on the rise. Have you considered a 50/50 Variable/Fixed Mortgage? Keep the payments as if you pay a fixed interest, ...
Posted by Marcus Kallweit
on June 17, 2009
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Resale ValueFalling in Love with a property might make you to overpay for a home. Stay objective. Consider resale value. Chances are your next home won't be your last home. Do not buy a property which will not resell; consider it's resale potential before you buy. A good real estate representative can help you assess the resell potential of any property you are considering
Posted by Marcus Kallweit
on June 1, 2009
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Renovations Tax CreditLooking at homes and think: What have they done (or why did they not...) with the Patio/Deck:
Consider this: If the patio/deck is low enough in relation to any doors so that adding a layer on top is won't cause any height issues, consider adding another layer of masonry/wood on top. This will add resale value if you are thinking of selling or/and also be easy to maintain. It is safer for kids ...
Posted by Marcus Kallweit
on April 28, 2009
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Location is ImportantLocation, location, location.
It is still true. The desirability and resale value of your home depends on location more then any other factor. People want a desirable community that includes character, quality schools access to work, major transportation arteries, recreational facilities and much more.
On our viewing trips, take a careful look and ask the following questions:
How does this home ...
Posted by Marcus Kallweit
on March 4, 2009
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Guaranteed Sale ProgramEver wondered why houses are on the market for 50, 80, 100 days or longer?
Simple answer:
Most likely they are over priced.
Nearly every Home Buyer is working with a Realtor and after seeing a home, they ask their Realtor what the home is worth. The realtor will then give their best and honest opinion on Market Value. If he determines a lower price, the buyer most likely will walk away. ...
Posted by Marcus Kallweit
on February 26, 2009
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Now is the time to buy your first homeThis may be the best time to buy a home in the past 7 years as interest rates have hit their lowest mark in known history. Just a few months ago interest rates for a 5 yr mortgage was in the 5.75% range but today sits at 4.39%. This is a remarkable drop in interest rates and the cost of carrying a home.
Many first time buyers are at no risk by buying right now because many of them are paying $1,200 ...
Posted by Marcus Kallweit
on February 17, 2009
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