| Recent Blog Posts by Szabolcs Pall | ||
30 Year AmortizationDid you know … as of March 18th 2011, you will no longer be able to take out a mortgage with an amortization period of more than 30 years. The change was implemented as a preventive measure to ensure people aren't over extending themselves. Some banks are taking advantage of this to offer incentives for would be home purchasers before the deadline, so take advantage now!
ready2move.ca ...
Posted by Szabolcs Pall
on March 17, 2011
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Home Ownership - Learn before you leap!My brother recently asked about what I thought was the best smart phone on the market. Sure there are tons of web-sites dedicated to this stuff, and he has probably read them all, but like most anything you purchase, it’s often best to ask someone who’s had some firsthand experience with the bloody things.
And it’s with that in mind that we decided to host a live session ...
Posted by Szabolcs Pall
on March 17, 2011
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How's the market?
How’s the housing market? It couldn’t be any better if you ask me, and let me explain why:
While the Residential Unit sales on the Ottawa Real Estate Board are down, our Condominium Unit numbers are up from last year at this time. And let me remind you, that we had a record breaking year in 2009 which makes the numbers even more impressive. Residential prices have increased approximately ...
Posted by Szabolcs Pall
on December 29, 2010
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3 reasons you should sell, now!
Waiting till spring? Here are 3 reasons why you should get your home on the market, right now! If it’s something you’ve been considering but are getting mixed messages from the industry and agents, here are my top reasons, why hesitating could end up costing you!
1) Interest Rates. The banks are practically giving money away. 2) ...
Posted by Szabolcs Pall
on November 11, 2010
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Considering Selling? Some things to ask yourself first!
We're faced decisions throughout our normal day, and usually get them right without much difficulty.
But while each of us is well equipped to make every day decisions, it’s not always so simple. When we consider selling our home, that decision is one that obviously requires much greater scrutiny. Consider the following:
How much equity do I currently have? - The amount of money you ...
Posted by Szabolcs Pall
on June 1, 2010
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Home Ownership Incentives
Did you know that there are a variety of government programs to help you save or borrow the funds for your home purchase? The RRSP Home Buyer's Plan, the Home Buyer Tax Credit and the Land Transfer Tax Rebate can help overcome the difficult challenge of saving money for a down payment faced by many First Time Home Buyers today. As a REALTOR® I can help you understand how these programs ...
Posted by Szabolcs Pall
on March 29, 2010
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How to buy a home with 0% downDid you know that you can still get financing for up to 100% of your home? There is no getting around the 5% down payment required by CMHC, but some lenders will give you the 5% down payment if you are willing to take on a higher interest rate.
Don't forget though, that for non-owner occupied or investment properties, you now need a 20% down payment as part of the new mortgage rule ...
Posted by Szabolcs Pall
on March 2, 2010
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Why change the mortgage rules?
Image: Danilo Rizzuti / FreeDigitalPhotos.net
How do you characterize our current real estate market? Lots of buyers, not enough homes. Homes are selling at over and above the asking price as demand pushes excited home buyers, nervous at the thought of losing out on a home, to bid full asking price sometimes without conditions. While active listings are down from last year, we are already ...
Posted by Szabolcs Pall
on March 2, 2010
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Considering condos?Did you know that while condos remain an affordable option for many first time home buyers or empty nesters looking to downsize, the lower price doesn't always tell the whole story. The condo fees that vary according to age, size and location of the condo, can sometimes be up to 50% of the cost of your monthly mortgage. Always check with your REALTOR® and lawyer to find out what amenities, ...
Posted by Szabolcs Pall
on December 2, 2009
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When should you buy a home?There is no better time to get in the market then now! This is something you may hear repeated often but it definetly rings true today!
Consider the following: The dollar is at about .95US again, the stock market has survived the bad news coming out of Dubai and is once more pushing towards 12,000 points. Overnight lending rate by major banks is still hovering at all time lows and the ...
Posted by Szabolcs Pall
on December 2, 2009
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Financing AssistanceFinancing Assistance is just another service that I provide to all my clients. This is your home, and it's kind of a big deal. Know how and where to get a mortgage (banks are just one source), and what financial incentives and assistance is available to you. ie. tax credits, rebates, RRSP. What sort of costs you can expect at closing? It's stuff that can put money in your pocket and ...
Posted by Szabolcs Pall
on October 1, 2009
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Condo purchaseI was recently approached by a friend, who required some direction on the purchase of his first condo. 'Michael' had visited the showrooms of a nearby developer and had received some encouraging news about "some really cheap pre-construction prices". But as a prudent purchaser faced with one of his biggest investments, Michael wrote to me asking for some advice on what questions he needs ...
Posted by Szabolcs Pall
on August 5, 2009
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myhomeplanner.caGenworth Canada, mortgage insurance agency, has launched a web-site called myhomeplanner.ca. It's a neat little web app, that let's you specify your moving date, and it gives you a nice little calendar with icons showing your upcoming tasks. So you'd add Home Inspection, Property Insurance and Status to a list of tasks, then each of those tasks could be represented by a different icon, ...
Posted by Szabolcs Pall
on June 1, 2009
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CBC - The Hour - Real Estate Hot SpotsDon R Campbell - Real Estate Investment Network (Part 1 and Part 2).
Posted by Szabolcs Pall
on May 1, 2009
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Risky MortgagesInteresting news filtering in this morning, that CMHC had been warned about the burden it was placing on borrowers of home loans with minimal downpayment and long term amortization, and it's potential effect on the current economic crunch. In February 2006, U.S. based insurance companies were allowed to insure mortgages in Canada, and this competition for market share saw the introduction of ...
Posted by Szabolcs Pall
on December 18, 2008
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Considering leasing your home?For many people, the idea of letting someone live in your home for a definite period of time seems foreign. But others view it as an opportunity to knock a few grand off their mortgage, especially if circumstance has them relocating to another city for an extended period of time. Most Lease terms are for a period of one year, but can also be for longer periods. As always, you should work ...
Posted by Szabolcs Pall
on November 3, 2008
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