Interesting 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 mortgage products beyond the traditional 25 year Amortizaton, and 25% Downpayment.  CMHC said the introduction of the new mortgage products "reflected the market trends for the period". Interesting indeed. Are you ready 2 move?  Send an email to szabolcs.pall@century21.ca 12/22/2008

Finance Minister Jim Flaherty has recently said, that panicking in the face of this global economic crisis could prove tragic for Canada's own economy. I think it should also be stated, that some of the frightning headlines we are seeing in the news today, have been kicking around for about a year now. And even longer in the U.S and the U.K. So while the financial bailout of the U.S. automakers has recently collapsed (and GM considers bankruptcy), according to Mr. Flaherty "Canada is better positioned to cope with the global economic crisis than other countries, including the U.S." Things are getting better, without a doubt, it just takes a little time. I just wish that sort of positive thinking would turn to fruition and filter down to the mainstream media, and fast! Ready 2 Move? 12/22/2008

How's the market?  It's the one question we seem to be hearing over and over again.  The market can typically fluctuate within three types of market conditions: 1. Seller's Market 2. Buyer's Market 3. Normal or Balanced Market And a good indicator of market conditions is to interpret the number of months of listing inventory.  This is arrived by taking the total number of listings on the market, and divide that by the average number of sales per month. This will give you the number of months of inventory.  4-6 months is a Seller's Market, 6-8 months indicates Balanced and 8-10 months equals a Buyer's Market. Looking at the information available on Cambridge we see that there are currently 497 active listings and that we were averaging 70 sales over the last 2 months.  This gives us 7.1 ... 12/02/2008

Finance Minister Jim Flaherty pledged today to triple the amount of mortgages the government can buy from banks to as much as C$75 billion. The Canadian Gov't, using its crown corporation, the Canadian Mortgage and Housing Corp. (CMHC), purchased $25 billion in mortgages last month. Allow me to explain in simply terms what the government is in fact doing... The gov't via CMHC has insured many mortgages for the banks. In other words, CMHC has sold the banks default insurance on mortgages that the banks have provided to their clients, which guarantees that CMHC will cover any shortfall realized by the banks in the event of default by their clients. The banks issues these mortgages to their clients using their own money, and the bank waits for repayment based on the terms of the mortgage, ... 11/12/2008

Something that happens to real estate agents on a very regular basis is the issue of getting the price right on a new listing. Sellers want to get top dollar for their property, and so do we, but sometimes the "seller's price" is over the top and totally unrealistic. Especially in this slower market, it is very important to get their price in a marketable range that will encourage showings and offers.Here's a story that happened in our brokerage recently that demonstrates the importance of getting the price right. The seller had a country property in a good, central location. The house was really nice with many updates and recent renovations. We gave them an asking price of $ 450,000 about 18 months ago. They felt this was low, and decided to try and sell privately for $ 699,000. Later ... 11/04/2008

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 with your Realtor® to arrange the necessary paperwork.  Not only to ensure that your rights are well protected, but to ensure that once you accept an offer, the transaction closes in a timely manner.  This allows you to look forward to your pending move knowing, that your single biggest asset is well protected and your mortgage $15K - $20K lighter. What are some conditions to include in a Residential ... 11/03/2008

Among households that renovated in 2007, 41 percent contracted out all the work, while 31 percent did the work themselves or with the help of friends or family.  Over a quarter of households who renovated did a mix of both hiring a contractor and doing a portion of the work themselves.  In 2007, compared to 2006, the share of households that decided to do the work themselves decreased, while a larger share of households contracted out all the work or contracted out part of the work and did some themselves.   What renovations are you prepared to attempt, and which ones will you contract out Send your comments to szabolcs.pall@century21.ca 11/03/2008

•·         TSX  +33.15pts •·          Dow +196.89pts Financial markets grew more upbeat as political leaders said they struck an agreement in principle on a massive spending plan to revive the crippled financial system. The Dow jumped s on optimism about the bailout, and demand for safe-haven assets remained high but eased slightly as some investors placed bets that a deal would help unclog credit markets. •·          Dollar  +.22c to $96.68US. The Canadian dollar rose against a slumping U.S. dollar as U.S. data missed expectations, compounding concerns about the economy as U.S. lawmakers tried to reach an agreement on a proposed bailout package for the battered financial sector •·         Oil +2.29 to $108.02US per barrel. •·         Gold -11.30 to $877.70US per ounce    Mortgage rates... 09/26/2008

Love it or leave it, you have to accept that there is a very good chance you will be frustrated by some form of technology today. Scanner not working, printer jammed, pages not getting to my cell phone, memory card is full, batteries are empty, GPS is outdated, laptop has a virus, MP3 player still silent. It was supposed to be so easy. Grab an MP3 player for my wife from the nearest electronics giant, and jam it full of songs so that I can take my iPod to the gym in full confidence, that the batteries have been drained in her player and not mine. After we finally purchased the player (from the 2nd store we went into, service wasn't all that great at the first store), we had to charge the battery from our laptop for about 3 hours. This was interrupted by a couple of hours of work, before... 07/10/2008

... with apologies to the late Arthur Miller. Should probably read as 'Birth of a (great) salesman', because otherwise, what's the point? There are thousands of salesman working tirelessly in their chosen field, but how many can be consider great. What is it that you do, to distinguish yourself in your chosen area of expertise? You have to be willing to do something more. It's easy to be average, it's easy to do the things we have always been doing, and not branching out to discover something more within us. To do the same thing everyday, without questioning, is unoriginal, it's no more than what is expected of us. Do something different, deliver more than asked of you, is how you will distinguish yourself from the others. You are more than just average, and that's the hardest thing to ... 07/10/2008

I recently participated in a course, where the perception of real estate sales representatives in the eye of the public, was discussed at great length. The image one projects to the general public is extremely important. Not only does it reflect on the individual, but also on the Brokerage they represent, the Company and the whole industry in general. But I'm not talking about individual taste in clothing or the make and model of car we drive. The image I'm talking about is the one much more difficult to alter. In a recent conversation, one friend revealed that he wouldn't use the services of a REALTOR® when he purchased his next home, because he was not confident in the knowledge and expertise of his last REALTOR®. Another, felt that the REALTOR® was too pushy. Evidently, there is room... 07/10/2008

Did You Know that mls.ca is changing to realtor.ca? On July 2, 2008, the new REALTOR.ca portal will be launched. It will replace the existing mls.ca once the test period and re-branding project are completed. The new website will be called REALTOR.ca to drive home the point the listings and services on the website are provided by REALTORS®. You'll also see new graphics, and new search options for Web visitors. While the new website is launching June 30, the existing mls.ca and sia.ca websites will continue to operate with the latest information from members from that date. This "parallel" presentation means that for a period of time consumers can pick the existing site, or the new REALTOR.ca. At a later date, everything will switch to the new REALTOR.ca and anyone using mls.ca or the F... 06/21/2008

The Americans have had this advantage for years. But now with proper structuring I can show you how to make the mortgage on your principle residence tax deductible. Call me today and find out how or e-mail me at walter@cambridgehouses.com. 07/27/2007