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Lea Barclay
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Find Your Dream HomeFree Evaluation
If the time has come for You to "Find Your Dream Home", then I would love to help. New properties are listed every day. By filling out the form, I can have new Listings emailed to You as soon as they become available.The Equity in your home is like any other investment - it needs to be monitored. Homeowners should have their Equity evaluated once a year.
Now might be the perfect time...
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New Mortgage Rules

Recently there were some major changes in mortgage rules handed down by the Canada Mortgage and Housing Corporation (CMHC). These new rules include:

1. For buyers who bring less than a 20% down payment to the table, the new maximum mortgage term is 25 years. Buyers who have a 20% down payment are still eligible for a 30-year mortgage.

2. The maximum gross debt service limit is now 39%, instead of the previous 44%.

3. When refinancing a mortgage on a property, Canadians will be limited to borrowing 80% – not 85%, as previously allowed – of their equity in the property.

4. Properties over $1 million now require a 20% down payment. CMHC will no longer insure mortgages for properties over $1 million without that 20% down.

The Star’s Moneyville blog has a good breakdown of how the new rules may affect you as a buyer or seller. What do you think of these new rules?

Buyer/Seller Tips...!

10 BEST REASONS TO MOVE8 COMMON MISTAKES MOST HOME SELLERS MAKERENTING VS. BUYING, WHICH IS BETTER?
To make the best remodel or move decision, it is important to understand all the reasons that you have to remodel and all the reasons that you have to move. This article reviews common reasons to move.1. Failure to effectively market the property. Good marketing distinguishes your home from hundredsOne thing is for sure; we all know that we need a roof over our head.
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BUYING HOME CHECKLISTHOME VALUES
If you are buying a home, then, before you decide on whether this home is your dream home, the following checklist will help you look at prospective homes with a critical eye. We suggest printing this page and putting it on a clipboard. When you find a home that really interests you, mark the features you see and note their general condition on this list.Home value sometimes referred to as "Value in Use", is best described as the probable price at which a home trades in a free, competitive, and open market and is synonymous with the market value.
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SELLING YOUR HOME - WHEN IS THE RIGHT TIME?HOW REAL ESTATE MARKET CONDITIONS AFFECT YOUR OFFER PRICE
When should I sell my home? Your answer to this question might be right now! If you have taken a job in another city or made an offer on a new home, or had an addition to your family, selling your home fast might be the most important goal you have. Most people, however, have some flexibility when they sell their home. Let us take a closer look at the most important factors that can go into this decision.A hot market is a "seller’s market". During a seller’s market, properties can sell within a few days of being listed and there are often multiple offers. Sometimes homes even sell above the asking price. Though most buyers want to get a "deal" on a home, reducing your offer by even a few thousand dollars could mean that someone else will get the home you desire.
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STAGING… FOR A FASTER SALE AND HIGHER PRICEHOW DO REAL ESTATE PROS PRICE A LISTING?
There are many television shows today that focus on home staging. If you have not watched any, do yourself a favor and tune in. They all say the same thing: do not even consider putting your house on the market until you have taken a close look at its condition. Experienced sales people know that you only have one shot at impressing potential buyers, so take some time to prepare your home for showings. You will be rewarded with a faster sale and a higher offer.A very accurate saying is that "Any home will sell once you get the price right." Of course, this is usually said from the perspective of dropping a price until it's too attractive to pass up. Actually, the accurate pricing of your home prior to listing is as much an art as it is a science.
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DOWNSIZING YOUR RESIDENCELOCATION, LOCATION.... MARKETING!
A great many moves in our lives are to larger residences to accommodate growing families. Or, perhaps our financial development allows us to move up to a larger home with more features and amenities. There is no stress involved in trying to reduce our life’s stuff to fit into a smaller place. If anything, we just need to shop for some more furniture for the new larger place.You may have lived in your home for many years. The location factors that you considered when making your purchase decision may not apply to today’s buyers. The task is to identify the current positive aspects of your home’s location and market them aggressively. When it comes to positive locations, people’s different attitudes and preferences will determine if a location is a “good” one.
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WHAT IS THE BEST WAY TO MARKET A HOME FOR SALE?OFFERS AND NEGOTIATIONS
Marketing a home for sale is quite different from most other types of marketing and advertising. Unlike marketing many products, homes are each unique. Marketing decisions will be based on thorough examination of the home’s features and comparison to the competition in the marketplace. Decisions must also be made concerning improvements that might enhance the home and sell it faster and for a higher price. Whether buying or selling a home, one activity will be part of the process in all cases and for all involved. Let’s look at the offer to purchase contract and negotiation process from both sides
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