Costs & Considerations When Buying a Home

"Home is an invention on which no one has yet improved."


- Ann Douglas


In the excitement of beginning a search for a home, many people jump right in without considering all of the elements that make a home truly right for them. It is a complicated and personal process. An unsuitable choice can be costly in many ways - you could lose money, waste time and effort relocating, or even put your family's health in danger. The following are some things to consider when identifying your ideal home and planning a successful purchase.


Choosing a Neighbourhood


Remember that you can renovate a house but neighbourhoods take years to change and there's no guarantee they'll change for the better! On the other hand, if you really love a certain part of town but it's out of your price range you may want to consider buying a less-than-perfect home then doing renovations. They can be quite expensive so try to make improvements that will be reflected in the value when you sell. These renovations have been found to have the greatest payback: kitchen 70%, bathroom 68%, interior painting 65%, exterior painting 62%.


Tips on choosing a suitable neighbourhood:


•When you find a locale you like, walk around it. See what it's like from street level.


•Are the people friendly?


•Are there stores and recreation facilities nearby?


•Contact the local school board if you have children. Do local schools provide good education opportunities? If applicable are there private/religious schools?


Figure out what you can afford:


Consider how much you currently need to live on and how much you actually have leftover every month. People have a tendency to create budgets that look nothing like reality - when we should have $400 left over, for some reason we only have half that.


Consider these basic costs of buying a new home:


•Most homes require a down payment of several thousand dollars.


•Monthly mortgage payments can be 1/3 of the average person's annual net income.


•You may want to pay for a home inspection. Consider more than just the structure. Ask the inspector to check for asbestos, radon, animal infestation and lead.


•Moving costs can be from a couple hundred to several thousand dollars depending on the distance of your move and the quantity of belongings.


Financing


The sort of home you can afford depends on several things:


•How much you have saved


•How much you earn


•Past earnings


•Your credit rating


The past has a way of haunting new homebuyers. If you are concerned about your credit rating you can usually get a free copy of your rating report from your local credit bureau. Normally all that's required is a couple pieces of photo identification. Remember, a few late payments or disputed bills can besmirch your record. Try to pay everything on time and don't have more than two credit cards. A bad rating can spell trouble getting a mortgage or you end up paying more for your mortgage as a form of insurance to the lender.


Pre-Qualification
This refers to documents from a bank or other lender indicating that you have the financing to back up your offer on a house. Pre-qualification is free and most lenders are happy to sit down with prospective buyers and figure how much they can afford. Having an accurate idea of price range will save time in the bidding process. If there are several people making offers on your dream home, being pre-qualified can make your offer more attractive since financing is not in question. It is important to note, however, that lending institutions will base their final decision about a mortgage on ability of the buyer to service the debt as well as the property. Most lenders state that the two components go hand in hand - the buyer with the ability to repay a mortgage and the property as security in the event of default on payment.


By taking all these points into consideration, you can worry less about the process of buying and get busy finding your ideal home!

Strategies to Avoid a Foreclosure

A mortgage represents that largest single source of investment (and debt) for individual Canadians. Protecting that investment during uncertain times will have a significant impact on long-term financial health. Foreclosures are the worst case scenario for homeowners since it results in the loss of part or all of a property investment. Consider the following options to avoid foreclosure and build a financial safety net. 

Common wisdom holds that homeowners should have at least four months of living expenses saved up to weather tough times. This can be a challenge for many of us to achieve. There are household repairs to do, children and pets to care for, vehicles, utilities and numerous other daily expenses to cover. Our consumer society also puts an emphasis on buying non-essentials driving many people into credit card debt even when they have regular, full-time employment. When savings are minimal in the best of times, the sudden loss of income can be devastating.

Creating a household budget is a great way to gauge your short and long-term financial health and becomes essential when there is a reduction in income. Write down all your household expenses such as mortgage, telephone, electricity, food, car and home insurance, average monthly clothing costs, medications, etc. (The Canadian Mortgage and Housing Corporation provide a good template.) Now take a second look at your list. Can you reduce your spending on any items? For example, many families can reduce expenses by eliminating a cell phone, cancelling health club memberships, parking the car in the garage for a few months to reduce insurance costs, and eliminating entertainment costs (e.g., cable television, movies, restaurant meals). If you are carrying debt on credit cards, consolidate it into a line of credit or a loan with lower interest.

On the other side of the sheet, note your household income. If it is not adequate to cover all the expenses, you need to take action quickly. The first step is to earn additional income. As well as employment, consider selling a second car or renting out a room to a visiting student (check with local colleges, universities, and ESL schools). As the members of your family look for additional ways to earn income, keep in mind that in a slow economy this can take time—potentially more time than you can afford. Calculate how many months of living expenses are available without additional income. If you have three months of income or less, this is the time to make some decisions to avoid foreclosure and protect your investment.

Some Canadians will find it tempting to walk away from their home when their down payment and home equity is very low and the market value has fallen below the price paid for the home. This can happen when people buy in an ‘up’ market that quickly turns downward. However, walking away will create a black mark on your credit rating making it very difficult to obtain a mortgage or any other type of credit in the future. As well, rental prices are often as much or more than monthly mortgage payments on a comparable property.

You may be pleasantly surprised to learn that your lender is amendable to finding short-term solutions to your financial crisis. Foreclosure is an expensive undertaking for financial institutions. As well, if a foreclosure takes place when the economy is in a down cycle, the lender may get a lower price for the property than the value of the mortgage. Both parties have an incentive to find solutions. One option is to defer up to four mortgage payments; these payments will be amortized over the remaining mortgage period with interest continuing to accrue. This is a short-term solution, which gives homeowners a reprieve for up to four months.

Another option is to extend the amortization thereby reducing the payment amounts. This solution is certainly preferable to losing your home but note that in the long-run you will pay more in interest charges. Lastly, your lender may also be open to renegotiating the mortgage to reduce the payments, especially if interest rates have fallen recently.

If you find that these solutions are not adequate because of an ongoing lack of income, the only remaining solution is to sell your home. If you act quickly, you may be able to sell while you continue to make mortgage payments. This will allow you to retain any equity you have accumulated and any gain between the initial purchase price and the sale price minus the remaining mortgage amount. Keep your lender informed of your attempts to sell the property as it may delay their decision to foreclose.

If you are not able to sell while you continue to make mortgage payments and your lender is not willing to extend the grace period, your lender may opt to initiate a foreclosure sale. When this happens, you may lose your entire investment.

Understanding the process and your options can help you make the best decisions for your financial well-being.

516 Crestwood Ct

           I am doing an open house this Saturday from 1-3 at 516 Crestwood Ct in Woodstock. I am in love with this house, and I certainly hope a buyer this weekend falls in love too! Priced at $389,900 it is cheaper than building new! MLS 66-286.


Description:

Stunning 1725 Ranch style home. 3+1 bedrooms, 3 full baths, master with ensuite with corner soaker tub. This home is in impeccable condition and features 2 gas fireplaces, California shutters, french doors in dining room, hardwood, ceramic and premium carpet. The basement includes an additional family room, large bedroom and 3pc bath, plus a workshop for the handy man! Fully fenced yard, landscaped and a stamped concrete driveway with large courtyard seating area. This is a smoke-free and pet free home. This dream home must be seen to truly be appreciated.

Photos:

          

Ottawa makes it harder for some to get a mortgage

I think this is a great step - as much as I want people to be able to buy homes, I do not believe they should be able to do so if they truly cannot afford it. What do you think? Let me know in the comments section. Here is the article from the Toronto Star:

By Richard Brennan 

OTTAWA—Finance Minister Jim Flaherty has tightened up mortgage rules to tackle growing household debt in Canada.

“We are seeing people borrow to the max,” he said.

The measures put new restrictions on borrowing against the value of a home and reduced amortization allowing Canadians to pay off their homes more quickly.

“Canada’s well-regulated housing sector has been an important strength that allowed us to avoid the mistakes of other countries and helped protect us from the worst of the recent global recession,” Flaherty said.

“The prudent measures announced today build on that advantage by encouraging hard-working Canadian families to save by investing in their homes and future,” he said.

Ottawa moved to reduce the maximum amortization period to 30 years from 35 years for new government-backed insured mortages with loan-to-value ratios of more than 80 per cent.

It also lowered the maximum amount Canadians can borrow in refinancing their mortgages to 85 per cent from 90 per cent of the value of their homes.

“This will prevent Canadians from taking on excessive debt,” Flaherty told a news conference, noting that Canadians in some cases are remortgaging their homes to buy boats and other large ticket items instead of reinvesting in their homes.

The Finance Minister also withdrew government insurance backing on lines of credit secured by homes, such as home equity lines of credit.

He explained this will ensure that risks associated with consumer debt products used to borrow funds unrelated to house purchases are managed by the financial institutions and not borne by taxpayers.

Tips to Sell Your House!!

When you are ready to sell your house you’ll want to enlist the help of a REALTOR®. He or she will provide the professional advice and service you need to make the selling process go smoothly. Before you list your house, you will need to think about a few things to get your home ready for sale:

Clean everything in and out of sight:

Take a tour of your home. Take note of every opportunity to remove clutter and dirt. Rooms, closets and cupboards will appear larger and more inviting when you get rid of unnecessary stuff and tidy up what’s left. Remove bulky or unused furniture and rearrange the rest to make the best use of space.

Apply the following test to every questionable time. Have I used this in the past six months, or will I need to use it soon? If the answer is no, throw it away, store it elsewhere or sell it in a yard sale. 

It never ceases to amaze me how many homes I view that are dirty, cluttered, and NOT ready to be sold. If you aren't known for your housekeeping abilities, hire a professional clean team to do a thorough clean.

Be aggressive in disposing of clutter:. Pay particular attention to the two most important rooms in a buyer’s mind: bathrooms and kitchens. Once you’ve removed all the clutter, keep everything clean, every day. You never know when the person who will ultimately buy your home will visit.

Repair as much as you can.

Identify the things that are broken, cracked, stuck or just plain don’t work anymore. These can include leaky faucet, holes in window screens, stuck or broken windows, lights that don’t work, doors that squeak or don’t close properly, missing or broken cupboard handles, cracks in the walls and ceilings, and dozens of other “little things” you’ve been meaning to do for years. Now is the time.

Room or basement leaks, must be repaired, along with any water damage. Electrical or heating system problems must be fixed. Some repairs may not be necessary. Will that hairline crack in the driveway really make or break the sale? How about a chipped floor tile in the entryway? Some buyers will have their own ideas about how to deal with these problems. You may find it easier to adjust your selling price to reflect the cost of these repairs, rather than pay for them yourself.

De-personalize your home.

Your house reflects you. Grit your teeth and store all personal items (framed family photos, trophies etc) out of the way.

If you have brightly coloured accent walls or heavily patterned wallpaper, consider repainting or wallpapering these areas with light, neutral colours that enhance a room’s size and make it more flexible to receive any kind of furniture. Remove area rugs, light fixture and other items that buyers might find too difficult to imagine in “their home”, even if you were not intending to include these in the sale.

Beautify the house and yard

Peeling dry paint is relatively easy to fix or replace and can make all the difference in your home’s appearance. If your carpet or other floor covering is in really bad shape, consider replacing it. The same holds true for badly tattered window coverings such as drapes and blinds.

Outside the house, weed the flower beds, remove dead tree branches, keep your lawn well-mowed and edged, trim the hedges, rake the leaves, sweep the sidewalks, fix and paint the deck or fence, plant a few flowers and do anything else you can think of to enhance your home’s curb appeal. People often drive-by a home that is for sale to see if they even want to look inside - curb appeal is VERY important!

Paint, paint, paint!

If your paint is old (5+years) or too intense, it can turn people off as the house will appear dated. A fresh paint job in key rooms can help to 'stage' your home for sale. Paint in neutral colours (nothing too bright) and if you aren't sure what tones are currently popular, ask for assistance at your local paint store. It doesn't matter if you don't like the colour - it is what a buyer will like.

These tips and the assistance of a REALTOR® will help you sell your current home quickly so you can move on to your next dream house. Adapted from the Woodstock-Ingersoll District Real Estate Board.

Who wants to move to Florida??

          A lot of Canadians are "snowbirds" - a term used to describe seniors who escape the frigid winter months here and escape to sunny Florida. With the housing crash in the United States, more people are taking advantage of the cheap prices and buying real estate south of the border.
            My in-laws have lived in Florida for years - and they absolutely love it. As soon as the leaves turn in Woodstock, they pack up the car and head to their 2-bed, 2-bath condo in Delray Beach. Their place is about a mile from the ocean, and the complex they live in has 3 pools and 28 tennis courts. There are walking trails and ponds throughout the 9-building complex. You would think to live at a place like this you would have to put down a huge chunk of change. Au contraire! At the moment, you can get a 1-bed, 1-bath condo starting at $50,000, and a 2-bed 2-bath unit for about $105,000. Monthly condo fees are about $180 and that includes cable and water, use of the pools and all of the facilities. Taxes in the state of Florida are low even for non-residents - 2% of sale price of your unit. So buying low can have a long-term advantage.

Here is a listing that is currently for sale:
825 Egret Circle #104
2 bed
2 bath
1,175 sq. ft
$90,000
You can see the full listing HERE.

I have spent a lot of time at this community visiting my in-laws, and it is absolutely fabulous. If you would like more information on buying a property in Florida, please contact me.


          

Toronto's Priciest Home is Going for $27M

I'd really like to know how you get $27 MILLION just to buy a house. Because at that price, you'd best have a fancy wardrobe and nice car in the driveway! It says they made their money in "technology" - but my nosy mind wants to know the name of the business!

If you click on the link below, you can see the photo gallery - amazing!

LINK to photo gallery.

Toronto’s priciest home is going for $27M

By Tony Wong | Tue Jan 11 2011

If you’re the owner of 9 High Point Rd. in Toronto’s pricey Bridle Path neighborhood, it’s all a matter of perspective.

At least for Margaret and Lee Ka Lau. They’re selling their mega-mansion for $26.8 million, currently the highest listed price for a property in the Toronto area.

Even by ostentatious Bridle Path standards, the home rates high on the bling factor. The living space is more than 40,000 square feet, making it one of the largest properties in the GTA. The estate is also on an extremely rare double Bridle Path lot, encompassing four acres.

One lot has the imposing living quarters with 22,935 square feet of space. The second two-acre lot has a sports complex (call it your very own Deerhurst Resort) with 17,645 square feet of space.

“It is absolutely magnificent,” says Elise Kalles, listing agent for the property. “It’s an estate that’s beyond anything else in the city.”

While tennis courts are a dime a dozen in the Bridle Path, 9 High Point is the ultimate in neighborhood oneupmanship.

For one thing, the tennis court is indoors. So no excuses about the sun being too hot, or the wind whipping the balls around. It also has a bowling alley and an indoor pool.

There is, of course, a cinema, and the tunnel leading from the main house to the sports complex has an indoor putting green. Just in case you get bored on the long walk from one part of the house to another. And no, a GPS is not included if you happen to get lost. But there are 13 washrooms throughout the house in case you need a pit stop.

The owners were certainly thinking big, which is why they ended up purchasing two lots. Homes on High Point Rd. and the Bridle Path were purchased and knocked down, before the new digs were built by society architect Joe Brennan about seven years ago, according to Kalles.

“This is very rare to have this kind of self-contained entertainment centre on this kind of scale,” says Kalles.

“But as large as it is, the home is in perfect taste, it’s not overdone.”

That may be a matter of opinion. In the main house, ceilings are 19 feet high. There is also a soaring 46 foot arboretum, the kind of scale that would dwarf some hotel lobbies.

Indoor parking is available for eight cars.

Fittingly, the Laus were hosts in November to perhaps Toronto’s splashiest charity party held in 2010.

Tickets for tables went for $10,000. And the 500 well-heeled guests included Warren Buffett, the world’s third richest man, and Canadian composer David Foster.

Singer Lionel Richie apparently serenaded fellow guest Muhammad Ali at the dinner, which raised an astonishing $3 million for children seeking organ transplants in Canada and around the world.

“It was a really incredible affair where you had a gathering of so many luminaries in one spot. There was a waiting list to buy tickets to meet Warren Buffett,” says Kalles, who attended the event.

The owners, who made their money in technology, (Lee Kau was a founder of Markham-based graphic chip maker ATI Technologies Inc.) decided to open their home to the fundraiser after hearing it was for children.

They will likely downsize once they have sold the house. (Although after owning this palace, downsizing is likely the only option.)

No word on what it costs to heat the place. But think about this: Property taxes alone are $115,341. That works out to $316 per day. And don’t forget to tip the gardener.

Irresponsible Home-Buying Article of the Day.....

I often read the Toronto Star, and the Homes section of the paper. They normally have informative, useful articles related to all aspects of real estate.
So imagine my disappointment when I noticed the article "You Can Buy a House with No Money Down."

Seriously?!?!

The idea of buying a house when one is unable to save anything for a downpayment is insane. This is one of the problems that led to the housing crisis in the U.S. that saw foreclosure after foreclosure. If you have a good income and good credit, it should NOT be a problem to save, at an absolute minimum, 5% of the purchase price of the house. If you can't? You can't afford to buy.

I hate to even link the article, but here it is.

I have written a letter to the editor voicing my displeasure at the irresponsible nature of the article. The last thing we need is people buying houses with 'no money down.'

Optimism Marks Forecast for 2011 Housing Market

I often read about what is going on in the local housing markets - London, Kitchener/Waterloo, Guelph and Toronto. They can be good indicators of what we will see in Woodstock. The President of the London Home Builder's Association had an article in the London Free Press that suggests cautious optimism with regards to the 2011 Housing Market. Personally, I hope that he is correct, although these past few years have been crazy economically, so we shall see. I do know that house prices are still down - so its a great time to buy!

Optimism marks forecast for 2011 housing market

By MIKE BALDINELLI, Special to QMI Agency
Last Updated: December 31, 2010 10:48am

We all have our own thoughts on what has happened economically in our community over the last year and a view of what next year might look like.

If I were approached by a friend or business colleague, I would have a quick response. But to give this column and its readers their due respect, the thought of formalizing an economic view would seem to require some research first.

Turning to December's monthly news release from the Canada Mortgage and Housing Corp., Canada's leading authority on statistics for the housing industry, it looks like my personal thoughts might be on track.

It shows new home starts down by 28% in November 2010 over November 2009 and year-to-date single starts up 48%, but down for the third consecutive month.

According to David Lan, CMHC's housing market analyst, "Builders started most detached homes during the first half of 2010. With more choices in the resale market during the second half of the year, buyers were able to find what they wanted in resale, which caused detached home construction to slow since September this year."

To understand the housing industry, you need to look at starts over time. Year over year doesn't give the full view because it leaves you not knowing whether the prior year was a year of high or low building activity.

A quick scan through the numbers in the chart below offers a perspective of building activity over the last seven years. Obviously the economic challenges felt worldwide are also felt here.

Lan's observation is correct in that housing starts have slowed in the last part of the year. What doesn't show though, is the other influence: the $6,000 increase in development charges implemented by the municipality in January 2010. This dramatic increase resulted in an influx of permits in December 2009, effectively shifting starts meant for the full year, into the first half of 2010, as permits carry a six-month expiry. Hence the slowdown later in the year while the remaining inventory of homes was being sold.
Checking again with the experts for the 2011 picture, highlights from CMHC's forecast at their November Housing Outlook Conference include:

Sales outlook: After declining in the second half of 2010, existing home sales will recover gradually through 2011. However, total sales in 2011 will be lower than they were in 2010.
Employment will recover gradually and is expected to stabilize in the fourth quarter 2010 and strengthen over the course of 2011.

Net migration to the London CMA will be up in 2010 and 2011, reaching about 2,700 people in each year. Improving employment opportunities will contribute to a decline in the number of Londoners leaving for other areas within the country in search of work. The number of people moving to other provinces appears to have peaked in 2009 during the worst of the economic downturn and now fewer people are leaving. As well, higher levels of international migration will bring in new residents.

Mortgage rate outlook: According to CMHC's base case scenario, posted mortgage rates will remain flat in the second half of 2010 and in 2011.

Looking forward, the general feeling within our industry varies from cautious optimism to excitement. Personally, I'm enthusiastic about London's potential. We have all the essential elements for a dynamic vibrant community -- and with a willing spirit, we can master the challenges before us.
Mike Baldinelli is president of the London Home Builders' Association

Net Worth Calculator

Here is a great link to check out: a "Net Worth" Calculator.  If you don't know what yours is, you should. Its important to have a clear financial snapshot, and to update it yearly. Although it can be stressful, knowing where you are at financially is important before buying or selling a home.

Net Worth Calculator (click)

Time to take down those holiday lights

Time to take down those holiday lights - From the Toronto Star

January 6, 2011

Jennifer Wilson

YOURHOME.CA EDITOR

 

Nearly every block has one. That house where Santa’s sled and his eight tiny light-up reindeer are parked well past the spring thaw.

Superstition dictates that holiday lights and decorations should be removed within 12 days after the holiday to avoid bad luck. It’s not a bad guideline for avoiding your neighbours dubbing you the lazy house on the street, either.

But, not only are you tempting lady luck by leaving lights up longer, you’re also putting your safety at risk, says CSA International.

A recent CSA survey found that one in four Canadians leave their lights up for months, opening the door to damage caused by harsh winter weather and, even, residential fires.

“Lights are designed for temporary use,” explains Anthony Toderian, a spokesperson for CSA International. The longer they’re left out, the more the risk increases for shock and fire hazard. “It’s best to take them down after the holidays as soon as it’s safe to do so.”

While he notes there is no definitive time frame for how long holiday lights can withstand the elements, he suggests a month or two over the holidays at most.

Lights blowing in the wind, particularly lights with strands such as icicle lights, can rub against the side of the house, wearing through the insulation and exposing wires. Harsh winter temperatures and weather changes can also crack the protective coating and light sockets. These exposed wires can cause sparks or fire and, if your lights are mounted against something metal, such as an eaves trough, can even electrify the entire piece.

Holiday un-decorators should also be cautious when it comes to removing their lights. Toderian says homeowners should wait for good weather, and remove them during daylight hours after the lights have already been unplugged.

Once the lights have been removed, Toderian advises checking them for any damage before stowing them away until the next holiday season. He suggests examining the strand for cracks or signs of wear on the insulation, and also checking the bulbs and sockets for anything that looks out of the ordinary.

If all looks well, stow the light strands in a plastic storage bin, safely away from chewing animals and excessive heat and moisture. And, of course, keep any boxes of decorations away from heating appliances such as furnaces and hot water heaters, where they may become dry and a fire hazard.

Toderian also suggests storing lights with their original packaging, as it will contain care and bulb replacement instructions that will come in handy the following year.

“Every season when you take them back out of the box, check to make sure they’re not damaged, not cracked, there’s no exposed wire,” says Toderian. “Also check new lights for manufacturing defects.”

And, finally, “If you’re in doubt at all about your light strings, if they look damaged, discard them and replace them,” he says.

Top tips for safe decoration storage:

— Check and check again: Carefully inspect light strings every year.


— Out with the old: Discard any light strings with frayed cords, cracked lamp holders or loose connections.


— Take them down: Remove outdoor lights promptly after the holidays to avoid damage caused by extended exposure to harsh weather conditions.

— Safe storage: After the holidays, wrap and store lights and decorations in their original packaging, as they likely contain manufacturer’s instructions on replacement bulbs and details for proper product use.


— Source: CSA International

Woodstock Real Estate News Summary for Dec 2010

The following article was taken from the Woodstock-Ingersoll District Real Estate Board of which I am a member.

Comparitive Statistics - December 2010

Home Sales Stabilize

       Woodstock, Ont. –The number of homes sold through the MLS® System of the Woodstock-Ingersoll and District Real Estate Board came in slightly below year-ago levels in November 2010, but nevertheless posted a solid result for the month.

       Home sales numbered 80 units in November 2010, down six per cent decline from the same month last year. It was a fairly normal level for November sales, on par with a ten-year average for the month. On a year-to-date basis, home sales remain 13 per cent above the same period from 2006, and continue to run ahead of 2008 levels as well.

      “The market continues to show signs of stabilizing at more normal and sustainable levels,” said Lorna Corbett, President of the Woodstock-Ingersoll & District Real Estate Board. “Activity is currently running about halfway between the near-record setting pace we saw earlier this year, and the recessionary low back in early 2009.”

The average price of homes sold in November 2010 was $201,681. This represents a decline of 3.6 per cent from November 2009. Despite some month-to-month noise in the data, the average sale price has generally been flattening out. The less volatile year-to-date average price figure remained 3.5 per cent above levels reported over the first 11 months last year.

      The best selling home style in Woodstock was 2-storey homes with an average price of $249,843.00, whereas the best selling home style in Ingersoll was the Bungalow with an average price of $165,967.00.

The dollar value of all residential property amounted to 16.1 million in November 2010, down nine per cent from year-ago levels.

      Total sales numbered 84 units in November, a decrease of six per cent from the same month last year. The total value of all properties sold was 18.2 million, also down six per cent from November 2009.

       If you wish to view the listings currently on the Woodstock-Ingersoll & District Real Estate Board, as well as information pertinent to Sellers and Buyers please go to  www.widreb.ca

The CMHC - A Wealth of Information

A lot of people that I talk to who are thinking about buying a home don't have a clue where to start. They aren't sure how much they can afford, the costs associated with buying a home, the details of mortgage financing and other pertinent information.
A great resource is the Canada Mortgage and Housing Corporation (CMHC) website. It has a wealth of information and some handy calculators related to income, your household budget ,mortgage payments, and even net worth. It is very important to consider all sources of both income and expenses before purchasing a home.
When you are ready to take the home buying plunge, give me a call! I'd be happy to walk you through the process and help you find the dream home on your budget.

Welcome!

Welcome everyone to my real estate blog where I will be posting about Real Estate in Woodstock, ON and surrounding areas.
I am part of Sutton Group Right Way where I am a real estate sales representative. To find out how I can help you with your real estate needs, please contact me!


Office: 519-539-6194
Cell: 519-536-5360
Email: kaitchesonbyers@sutton.com