On the bright side...
  
In a down real estate market, there's a bright side for everyone. For buyers, it's like a sale—home prices are lower, making it more affordable to own a place. You can also negotiate better terms and deals because sellers are keen to make a sale. The big challenge is surpassing Bank of Canada's stress test. This is where we need to sit down and discuss how you can save for a larger down payment and reduce debt to income ratio for a stronger financial footing. Now, sellers, don't worry! There are still buyers around, and less competition means your home can shine more. You have a chance to showcase your property better. It's a balanced market, where both sides can benefit. So, let's see the positive and make the most of it!
Some Of The Things Home Owners Should Be Doing To Prepare For The Upcoming Winter
Here is a quick list of my top 10 home "To Do" items to get ready for fall and winter
1. Clean gutters and down spouts from leaves
2. Have your furnace serviced and replace the filters
3. Book an appointment to have snow tires put on
4. Check flashlight batteries and survival gear and be prepared for power outages
5. Ensure patio chair cushions have been properly dried before storing away
6. Consider fall fertilizer as well as buy and plant bulbs for color in the spring
7. Clean the dryer vent from back of dryer to where it exits your house
8. Final cleaning of the barbeque
9. Cut back your perenials
10. Replace batteries in home smoke detectors
Shocked By Your Mortgage Renewal Offer?
If your mortgage is up for renewal in the next six months, you are probably coming off a nice low interest rate that you have enjoyed for the last few years.
Chances are that you are aware that rates have been climbing steadily over the last 24 months and your renewal rate will be substantially higher than the rate you last negotiated.
Some lenders are forecasting that rates may continue to increase and are calling up borrowers asking them to renew early. That may seem like they have your best interest at heart but to do this you have to give up your current low rate for the balance of your term.
Don't be fooled by this tactic of renewing early into a less than stellar, higher-than-you-pay-now rate.
What we recommend is to lock in a rate today that is good for four months by committing to moving your mortgage to a new lender, stay with your current lender with the current low rate until your mortgage renewal date, then make the move. We will get the new lender to offer the guarantee that in the next four months, if rates come down, you can request the new lower rate.
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