REAL ESTATE WATCH......FOR UP-TO-DATE NEWS RELEASES

Mortgages?

2011-01-24T07:10:00.000-08:00

So why did the government introduce the 35/40 year amortization in the first place if they were going to take it back?

25 year amortization was fine and I don't believe anyone was asking for a longer period to pay off their mortgage. I am assuming change is good and we are now going back in the right direction or are we?

Even, I as an investor, like the 35/40 year amortization so that my rent I receive on a property allows me to break even OR make a profit. However, what it is doing is stopping progress.....why would we go backwards and not forwards?

Any comments email us at feedback@karenpaul.com

Merry Christmas

2010-12-23T09:24:00.000-08:00

Santa is being good to us this Christmas in regards to mortgage rates!

Canadians were expecting an increase in mortgage rates this past week, however the variable rates are still available as low as 2.25%.

The long term fixed rates have gone up about 20 basis points......still very affordable for buyers.

Look at our next newsletter for a more in-depth look at mortgage rate!

We are looking forward to a very HOT market in January to kick off the New Year!

TECHNOLOGY.....

2010-12-13T08:10:00.000-08:00

Recently The Karen Paul Team initiated QR codes as part of our advertising program on our signs, newspaper advertising, and feature sheets.

DID YOU KNOW? In Canada there are 21,455,000 cellphones in use which equates to .64 phones per person. Everyday there is a new survey telling us that there is an ever increasing number of people addicted to the cell phone usage.

Noteably one current survey from Handmark suggests that 40% of people are using mobile devices to follow New/Events.

MY POINT: Technology is moving at a very fast pace; every day we are relying more and more on our smartphones, Ipads, Blackberry's and Iphones.....therefore the logical move for the Karen Paul Team is to advertise your properties on these fast moving/ever up to date platforms.

DO YOU KNOW WHO THESE PEOPLE ARE?

Mark Zuckerberg
Jack Dorsey
Reid Hoffman

Social media is taking over.....click on the links above and follow me for up to date information on the market, trends, listings and more.

Getting to that magic and wonderful day, don't forget that little gift for someone who needs it the most.
Karen

Market Update

2010-12-02T08:42:00.000-08:00

As fall shifts to winter our housing market becomes depleted in listings. Our Buyers are still searching for that perfect town home/detached or perhaps just an investment property.

For those who love statistics; it takes 31 days on average to sell a home; average price in Burlington is $340,000. Town homes have increased in value by 2% over the last year because of the ease of lifestyle.

The "GO" train has stepped up its service in Burlington with three stops; Aldershot, Fairview, Appleby. Transportation has become mindless to and from Southern Ontario.

New homes in this price range still sell with line ups on opening day and sold out in weeks. Those first time buyers want to desperately invest.

A touch of education from a woman that watches, reads, works and sells 24/7

ANYTIME IS THE RIGHT TIME!

2010-11-24T11:47:00.000-08:00

A very common question is asked this time of year, "Is this the right time of year to list my home" the correct answer is "anytime of the year is the right time". Let me explain, the INTERNET has become our CATALOGUE for shopping, whether it be for cameras, trips, or HOMES. If a BUYER is browsing WWW.REALTOR.CA (Canadian Multiple Listing Service) just for fun, they may spot a home that is very affordable and send an email thru to their agent or the listing agent requesting a viewing. There is a 65% chance they may PURCHASE that property because they have seen and sold themselves even before the viewing. The stats on this occurring are very high as 96% of the BUYERS are shopping on the NET. And most times they are NOT even looking for a home.

Your home, with expert photos applied and virtual tours, becomes part of that CATALOGUE. It is just a matter of time. WHAT A WONDERFUL WORLD WE LIVE IN!!!

The festive season approaching, the shopping done, don't forget to donate that toy

HST & THE HOUSING MARKET

2010-08-25T13:41:00.000-07:00

The July implementation of the harmonized sales tax (HST) in Ontario and British Columbia and the 2 percentage point rise in Nova Scotia’s existing HST has caused much volatility in consumer prices in those provinces. Perhaps the most interesting aspect of the HST, how¬ever, is its interplay with the housing market; while sales of existing homes are not directly taxed under the HST, some transactional services such as related financial and legal representation are and incorrect homebuyer perceptions have led to a false sense of urgency. The housing market, in which a yearlong recovery has already come and gone, has recently begun to trend downwards as the frontloading of home purchases and construction that occurred in 2009 and 2010 unwinds and housing demand dwindles. At the time, Canadians were taking advantage of record low interest rates and entering the market en masse which caused hous¬ing activity to surge. This was even further exacerbated by prospective homebuyers in BC and Ontario, Canada’s two largest housing markets, trying to close before the July 1st HST implementation. Indeed, since peaking in December 2009, existing home sales across Canada have declined by more than a fifth. Of particular note is that more than 90% of the weakening in nationwide sales has come just in the last four months between March and July. In turn, and likely on account of the HST, sales in BC and Ontario plummeted by almost 32% since March. To put a few actual numbers behind that, between those months, nationwide sales declined by 11,700 of which 71% came from BC and Ontario. So while it is difficult to separate the underlying trend from the effects of the HST announcement, it is clear that it did play a role. So where does the housing market go from here? Unfor¬tunately, the trend underlying the slowdown in home sales was merely exacerbated by the HST, not the cause of it. Slowing housing demand is more a reflection of past ero¬sions in affordability in conjunction with rising interest rates rather than a tax in just two provinces. Indeed, every single province, save for PEI, has recorded declining home sales this year, hence it is not just an issue for BC and Ontario. TD Economics expects continued contractions in nationwide home sales throughout the rest of this year and into 2011 which will eventually bleed into prices. On an annual basis, overall home sales are forecasted to contract by 11.6% next year, while prices are forecasted to decline by 3.0%.
• As published in the weekly bottom line, Francis Fong, Economist

FAQ ABOUT HST BUYING & SELLING

2010-06-09T11:23:00.001-07:00

Transition Rules:
1. All services performed, due and payable prior to July 1st, 2010-only 5% GST would apply. (Example: Listing taken, offer accepted and transaction closed before to July 1st, 2010)

2. All services performed after June 30th,2010-only 13% HST would apply. (example:Listing taken, offer accepted and transaction closed after June 30th,2010)

3. 90/10 Rule-Services started prior to July 1,2010 and completed after June 30th,2010 - might be exempt from HST based on a transaction rule that states that if 90% or more of the work is completed prior to July 1st, 2010 then only 5% would apply. Conversely, if 10% or less of the services performed before July 1St, 2010, then only 13% will apply. ( A form must be completed for satisfaction of this 90/10 rule)

4. Blended GST/HST Rule - Services started prior to July 1st, 2010 and completed aftter June 30th,2010- that does not satisfy the 90/10 rule transitional rule for HST exemption will be subject to a combination of GST and HST in proportion to the work performed before and after July1st,2010.

BUYING A HOME & HST
There is no HST on a resale home or a preowned home
There is HST built into the price of NEW CONSTRUCTION

Keep watch for more informative real estate news!

HERITAGE PROPERTIES/TAX RELIEF

2009-11-23T07:01:00.000-08:00

Don"t miss the chance to enter for the exciting Spa weekend getaway.
Draw is November 30th....Don't forget to get it in!

Market Watch....Global real estate markets are showing tentative but growing signs of stabilization, according to Scotia Economics
Real home prices increased in a number of major developed economies in the second quarter of 2009, including Canada, Australia and United States. www.orea.com/ScotiabankReport

Heritage property owners get tax relief
Heritage tax relief measures:
Changes were made to the Municipal Act to allow Municipalities to provide Tax refunds or reductions to owners of eligible heritage properties.
Direct cash grants for rehabilitation and restoration projects:
Under this provision of the Act municipalities make non-refundable grants to owners for the purpose of protecting the heritage features of a property.
Municipal tax back grants:
Municipalities can also use their gran making powers to provide grants or loans to owners of designated properties for a limited period of time, to offset a municipal property tax increase which resulted from the alteration, repair or renovation of a property.

First time Buyers learn mortgage basics:
Building Blocks, a special series launced last month on the Globe Investor Web site is geared towards educating young Canadian families about various personal finance topics. Go to www.theglobeandmail.com and select investor education on the Globe Investor beta site.

The Launch! The Weekend getaway!

2009-11-11T10:50:00.000-08:00

I have been so busy with new listings, sales, and just keeping up with my daily paperwork.

The Launch of the web site has absolutely brought more enquiries, more exposure for our listings, plus more sales!

My Team decided to run a draw for a weekend getaway at a spa in the Muskokas
Just send in:
Name
Phone number
Address
Email us thru our Web site or just use info@karenpaul.com
Your ballot will be in the draw November 30th, 2009 ( formerly November 15th 2009)
You will be featured in the Burlington Post as our grand prize winner!

KAREN PAUL

Harmonized Sales Tax in Ontario

2009-10-27T19:24:00.000-07:00

Many questions have arised re Sales tax coming in as of July 2010

Under the new rules there will be increased costs to the consumer of residential real estate. The following items will be subject to the HST:

Commission
Legal fees
Chattels...not fixed to the property ( Stove Fridge)
High ratio insurance premiums
Fire insurance
Home inspection fees
Moving costs
Appraisal fees
Surveys
Title insurance

This is a brief, but by no means a complete list.

If you have any questions on the HST here are the resources;

Do your homework in buying and selling , knowledge is the best asset!

Talk to you soon

KAREN PAUL

905.634.2334 or info@karenpaul.com

THE ULTIMATE PROFESSIONAL

2009-10-26T08:08:00.000-07:00

Many times I arrive at a home to do an evaluation ( to set an approx. value ) and the sellers are very apprehensive of what we actually do once we list their home.

I am very lucky because behind my 30 + years in the business, service has been perfected by many of my client's criticisms and requests. I have learned to listen, resolve immediately and work for my clients.

We work hard as a team to sell your property so it is a satisfying experience.
Behind me are these people that partake in organizing your home for the market:
Michelle Desrochers....Administrator /manager for the Karen Paul team
Matt Macdonald.....Maintaining Web sites
Fran Anderson ....Stagger, interior decorator
Tom Vogel ..Special HD photographer/ Virtual tours
Kim Doherty ....Aerial Photographer
Lynn Macfarlane.....Burlington Post/Oakville Beaver/Mississauga News/Flamborough News.takes care of all our weekly ads
Bonnie Joll..Homes and Land Magazine
Peter Nesbit.....Puts up your sign
Eddy Hiltman.....Floor plans
Printers ...to print your Feature sheets and just listed cards
Justin Loncaric...Buyers Representative ..to handle any buyers for your home
Andrea Sferrazza..Buyers Representative... to handle any buyers for your home

So when you call Karen Paul to do an evaluation and hire her team to sell your home, you are not only hiring Karen, you are hiring all these people!

Identify your most important goal in life today!

KAREN PAUL
905.634.2334
info@karenpaul.com

BUYING A BRAND NEW HOME

2009-10-25T05:34:00.000-07:00

I went to the opening day of Milton Trails yesterday. Upon arriving at the sales office, the parking lot was buzzing! The adrenaline starts to flow giving you that sensation you are going to miss out on that "DEAL".

To my surprise, there were only a few that had been launched and not many had sold, comparatively to the mid 2000's where within one hour of opening the doors, everything had sold.

Here are a few tips in regard to putting in an offer with a new builder:
Do your research first....new to resale
Is there any supply in the surrounding area for sale/rent
Days on the market
Revisit the sales office so you are sure what you want and can afford
ASK about driveways,landscaping, extras, appliances, ceramic to porcelain, baseboards, light fixtures, extra costs at closing, reassignment of contract and financing.

This is your money, ask questions before signing!

Remember we are always here for you.

Karen Paul
info@karenpaul.com
905.634.2334

GREAT NEWS from Royal Bank of Canada

2009-10-24T04:14:00.000-07:00

Keep up to date and informed daily with Rates, new and exciting listings, plus any economic changes in our market.

News flash from our Mortgage Representative with RBC, Mike Mattiaci, 5 year posted rate dropped yesterday to 5.74 per cent (down by .10 bps)

RBC's Sale Offers:
Four year closed 4.24%
Five year closed 4.44%
OPEN five year variable 2.95% ....Fully open no cost to break

To contact Mike ..cell 905.466.8208

Yesterday I listed a home in Freelton Ontario...refer to my property link....48 Karendale Court, one year new bungalow which was the model home for the subdivision. Lovely upgraded features with an untouched lower level. this may suit your style and location

There are many wonderful condo apartments out there for anyone who feels like a maintainence free lifestyle. Ask us and we can guide you from start to finish with all the closing costs and monthly fees.

Have an enjoyable Saturday

Excitement, new business, super market!

2009-10-23T12:32:00.000-07:00

I am just thrilled that in 1985 I started working on my first computer and now, in Oct of 2009, I can talk to thousands of people by just posting a "blog".

Our lives have become overwhelmed by instant communication, and yet "WOW" how much knowledge we can attain!

New business is coming to question how refined our Marketing is. Selling a high percentage within 30 days.

Today, with Mortgage rates, at a annual low, homes are selling consistantly, drawing every kind of buyer to the table. ( Please refer to our most recent BUYER'S NEWSLETTER for all rates)

Along with the many many referrals I get, new busines is always welcome and will be handled with the greatest of service.

My updates will be frequent and informative.

As expressed at the beginning of my "blog", this is the greatest thing since sliced bread!