tag:blogger.com,1999:blog-12083415762167728312024-03-13T18:53:32.677-07:00Realty TycoonReal Estate and Mortgage News from Kingston, Ontario.Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.comBlogger29125tag:blogger.com,1999:blog-1208341576216772831.post-67966388247711915372013-02-16T11:37:00.000-08:002013-02-16T11:37:22.243-08:00Home Sales Drop in January. Average Prices Increase Slightly. The Vancouver Sun has reported that the number of homes sold in Canada dropped 5.2% over the reported numbers from January of 2012. News, however, was mixed across the country. About half of markets reported better number than in December 2012, with continued bad news in Vancouver bringing down the national average. <br />
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The national average sale number remains impressive, rising a steady two percent to $354,754 from a year ago. Of course, excluding inflation, the price is holding the same, but at least your average investor should be holding their own during this environment.<br />
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Cheers, and Happy Investing. <br />
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Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0tag:blogger.com,1999:blog-1208341576216772831.post-40766773900608356652012-08-16T11:15:00.002-07:002012-08-16T11:15:27.174-07:00Home Inspectors in Canada, Long Unregulated, Will be Expected to Meet a National Standard.Home inspectors, long unregulated throughout most of the country, are finally going to be expected to meet national standards for training and education. <br /><br />A lot of confusion will be lifted in the industry as a home-inspector will either be approved by the Canadian Standards Association (CSA) or not. The National Home Inspector Personnel Certification Program will now be recognized as the standard for home inspectors across the country. <div>
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According to the Toronto Sun:<div>
<br />"To become a certified national home inspector, a candidate must write a qualification exam. Based on the results of this exam and a background review, the candidate will be advised of what, if any, further education is required."</div>
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Currently, there are only 500 home inspectors in Canada that hold the certification, but more are certainly going to follow. </div>
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Before being granted certification as a "national home inspector" the candidates will have to undergo a review of previously completed home inspections, be under some supervision, and receive a mentor. </div>
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Of course, there is no guarantee that conflicts of interest and issues of qualification and professionalism within the field of building inspectors will evaporate, but it is definitely a step in the right direction, and it bodes well for future home buyers. </div>
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Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0tag:blogger.com,1999:blog-1208341576216772831.post-53370328417380816922012-04-26T13:44:00.001-07:002012-04-26T13:46:36.692-07:00Ottawa puts CMHC under tighter scrutiny<a href="http://www.canada.com/Ottawa+puts+CMHC+under+tighter+scrutiny/6524802/story.html">Ottawa puts CMHC under tighter scrutiny</a>: <br />
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Below are some key excerpts from Postmedia's article about the CMHC and its new scrutiny. This is clearly another sign that the federal government is anxious to rein in household debt levels and Canadian home prices.<br />
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<span style="font-family: 'Courier New', Courier, monospace;">The federal government is putting Canada's housing agency under tighter scrutiny amid concerns over a red-hot housing market and rising consumer debt.<br />
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Finance Minister Jim Flaherty announced Thursday that responsibility for Canada Mortgage and Housing Corp. will be handed over to the country's banking regulator, the Office of the Superintendent of Financial Institutions.<br />
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The measure, contained in new legislation tabled Thursday, will ``enhance the oversight framework for CMHC to ensure its commercial activities, particularly its mortgage insurance and securitization programs, play an important role in the housing market and the financial system,'' Flaherty said.<br />
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Queen's University finance professor Louis Gagnon said he has also ``been concerned about the CMHC for a long time. ``<br />
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``I believe that the federal government's plan to bring CMHC under the direct supervision of the Office of the Superintendent of Financial Institutions is long overdue,'' said Gagnon, who specializes in debt and risk management.<br />
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``In fact, the previous oversight arrangement was ill-suited for this important task and I never did understand why the CMHC had been placed under the jurisdiction of the minister responsible for Human Resources and Skills Development. This was a recipe for a disaster.''<br />
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Carney said the average home price in Canada is about 4.75 times people's income, while the historic average is closer to 3.5 times. Household debt to disposable income, meanwhile, is running at about 152.9 per cent.</span>Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com2tag:blogger.com,1999:blog-1208341576216772831.post-31135421555914548122012-03-19T18:28:00.000-07:002012-03-19T18:28:40.533-07:00Housing Regulators Forced to Save the Canadian Lenders and Public from their own Hubris and Irrationality. Lines of Credit and Mortgages to Become More Difficult.<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhAyqe17EfaofOS5LXTaE2fKmLLF14bkHnZpdTckfprKZNHAcFud019fvtYSfpYISi8ILbq00wPDcNTE4Dfy4nLtfTXWBJcdsE4HVKJSgYi80v5PYuqAN1b7InjSerGowCD7p0NMlg-RM4/s1600/mortgage+rules.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="193" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhAyqe17EfaofOS5LXTaE2fKmLLF14bkHnZpdTckfprKZNHAcFud019fvtYSfpYISi8ILbq00wPDcNTE4Dfy4nLtfTXWBJcdsE4HVKJSgYi80v5PYuqAN1b7InjSerGowCD7p0NMlg-RM4/s200/mortgage+rules.gif" width="200" /></a></div><span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">Canadian financial regulators are again indicating that they are going to start tightening up on the lending practices of the country's banks. With the housing market still hot in many Canadian cities, many home-buyers are digging themselves into deep financial holes. As they pile on more and more mortgage, credit, and other debt the Canadian consumer is banking on an ever increasing value of their home to save the day.</span><br />
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<span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">In particular, the Office of the Superintendent of Financial Institutions wants new rules in place that require lenders to take a closer look at the value of people's homes, and investigate more closely the financial habits of their borrowers. Due-diligence requirements should already be mandatory for employees of these institutions, but lately it is clear that most of Canada's banks are more than willing to lead us down the same path as the United States, Ireland, England, and many other disastrous property markets. Quite simply, people are buying houses that they cannot afford, and then taking out lines of credit on top of it, which they cannot hope to pay back in a reasonable amount of time.</span><br />
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<span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">According to the Globe and Mail: <br />
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"policy makers and regulators are concerned about the debts consumers are taking on as a result of persistently low rates. The fear in Ottawa is that many borrowers will struggle to keep up their payments once rates rise substantially, posing a threat to banks and the economy. At the same time, economists say that Canada’s housing market – most notably in Toronto and Vancouver – is overpriced. If house prices fall at the same time as interest rates rise, borrowers could find themselves under water."</span><br />
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<span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">Ultimately, it should come down to cash flow. We need to start evaluating whether or not borrowers have the flexibility to pay back their debts in a reasonable amount of time based on their current and historical income and expense records. Too much borrowing power is granted simply on a generalized perception of real estate values that are currently at gross multiples to the average buyers annual income.</span><br />
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<span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">Will the banks be happy with new rules? Of course not initially, but over-time it will help to save them from their own greed and hubris, and the irrational expectations of the consumer marketplace.</span>Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0tag:blogger.com,1999:blog-1208341576216772831.post-16833450769235817752012-02-13T18:42:00.000-08:002012-02-13T18:42:19.215-08:00Paying off Your Mortgage Instead of Investing in RRSP.The Globe and Mail recently highlighted three important reasons why many Canadians should pay off their mortgage instead of investing more heavily in their RRSP. In this brief article, I have listed all three below:<br />
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1. Paying off your mortgage will net you a guaranteed return. Basically, whatever interest rate you are paying on your mortgage, you can see that as your "rate of return," or how much money you would be earning by paying it down sooner.<br />
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2. Interest rates on mortgages will rise, and when you go to renew your mortgage, it is probably going to be higher than current rates. So, hopefully, you can renew your mortgage soon to lock-in low rates, but if not, you want to ensure that you will owe as little as possible when rates increase in the future.<br />
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3. Paying off your mortgage "sets you free." This one is partially psychological, as people tend to enjoy the freedom that not owing debt brings. The dollars that you currently must allocate to your mortgage payments can be utilized to satisfy other needs and wants.<br />
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Any questions? Just send me a quick e-mail and I am glad to help.Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0tag:blogger.com,1999:blog-1208341576216772831.post-65701815310817326392012-02-02T10:22:00.000-08:002012-02-02T10:22:12.580-08:00Average MLS® Resale Price for Local Markets. Ottawa, Toronto, Halifax Up. Hamilton, Burlington, Vancouver, Victoria Down.<span style="background-color: rgba(255, 255, 255, 0.917969); text-align: left;"></span><br />
<div><span style="background-color: rgba(255, 255, 255, 0.917969); text-align: left;"><span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">Halifax, Montreal, Toronto, and Ottawa realize housing price increases. Hamilton, Burlington, Vancouver, and Victoria on the downward trend. Average Vancouver property sinks below $700,000.</span></span></div><div style="color: #3399ff; font-family: Arial; font-size: large; font-weight: bold;"><span style="background-color: rgba(255, 255, 255, 0.917969); text-align: left;"><span style="color: #005696;"><span style="font-size: large;"><span style="color: #3399ff; font-size: medium;"><span style="color: #3399ff; font-family: Verdana;"><br />
</span></span></span></span></span></div><div style="color: #3399ff; font-family: Arial; font-size: large; font-weight: bold;"><span style="background-color: rgba(255, 255, 255, 0.917969); text-align: left;"><span style="color: #005696;"><span style="font-size: large;"><span style="color: #3399ff; font-size: medium;"><span style="color: #3399ff; font-family: Verdana;">Average </span><a href="" name="1353f135b59c0e1a_MLS" style="color: #1155cc; text-decoration: none;" title="MLS"><span style="color: #3399ff; font-family: Verdana;">MLS</span></a><span style="font-family: Verdana;"><span style="color: #3399ff;">®</span> Resale Price for Local Markets </span></span></span></span></span></div><span style="background-color: rgba(255, 255, 255, 0.917969); color: #3399ff; font-family: Arial; font-size: medium; font-weight: bold; text-align: left;"><span style="color: #005696;"><span style="font-size: large;"><span style="font-size: medium;"><a href="" name="1353f135b59c0e1a_link8" style="color: #1155cc;"><span style="color: #3399ff;"><div><table cellpadding="2" cellspacing="0" style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; width: 635px;"><tbody>
<tr><td style="background-color: #3399ff; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; color: white; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><span style="font-family: Verdana;">City</span></td><td style="background-color: #3399ff; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; color: white; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="font-family: Verdana;">December 2010</span></div></td><td style="background-color: #3399ff; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; color: white; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="font-family: Verdana;">December 2011</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Halifax</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 254,228</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 273,182</span></div></td></tr>
<tr><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Saint John</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 162,859</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 165,770</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Quebec</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 250,880</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 255,896</span></div></td></tr>
<tr><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Montreal</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 305,068</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 319,458</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Ottawa</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 325,031</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 335,330</span></div></td></tr>
<tr><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Toronto</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 433,887</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 451,436</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Hamilton/Burlington</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 324,590</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 314,940</span></div></td></tr>
<tr><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Winnipeg</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 239,183</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 268,977</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Saskatoon</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 300,693</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 312,834</span></div></td></tr>
<tr><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Regina</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 251,690</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 273,919</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Calgary</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 381,308</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 392,661</span></div></td></tr>
<tr><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Edmonton</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 310,885</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 315,658</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Vancouver</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 700,773</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 689,057</span></div></td></tr>
<tr><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Victoria</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 496,814</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 469,484</span></div></td></tr>
</tbody></table></div></span></a></span></span></span></span>Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0tag:blogger.com,1999:blog-1208341576216772831.post-75328775767664195872012-01-19T07:09:00.000-08:002012-01-19T07:09:57.680-08:00Scotiabank Plaza Could Fetch $1 Billion for Shareholders. Scotia Decides to Take Advantage of Hot Toronto Real Estate Market.<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiM_wTLfzI0v5w50T5RBDwvLtFe_CHmC8EINvSaCStnCTSNTo6MpW75VrJLp_EvWl1toXXiJYV9NMiAXxJPguJND_a5jrxB3CfWTnF_RCHyORqk4Z6VhR_F1-mya0XUoJG-_zsg5nku57k/s1600/Scotiabank+Plaza.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="116" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiM_wTLfzI0v5w50T5RBDwvLtFe_CHmC8EINvSaCStnCTSNTo6MpW75VrJLp_EvWl1toXXiJYV9NMiAXxJPguJND_a5jrxB3CfWTnF_RCHyORqk4Z6VhR_F1-mya0XUoJG-_zsg5nku57k/s200/Scotiabank+Plaza.jpg" width="200" /></a></div><span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">Finally a Canadian bank is doing something prudent recently for its shareholders. Scotiabank (TSE: BNS) has indicated that it is looking for buyers of Scotia Plaza, the second largest tower in the country. Real Estate analysts think that Scotiabank could fetch $1 billion for its shareholders from the sale of the property. </span><br />
<span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;"><br />
</span><br />
<span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">In an overheated property market, with low mortgage interest rates, deciding to unload a property for a massive gain is a prudent move for the bank. Scotiabank is currently the only bank in Toronto that actually owns its office building, which it has occupied since 1988. </span><br />
<span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;"><br />
</span><br />
<span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">Bank spokeswoman Ann DeRabbie stated that "<span style="background-color: white; line-height: 22px;">given market conditions, this could be an opportune time to maximize the value from our holdings," and Intelligent Investors should agree. The $1 billion could be better utilized elsewhere, even if it is simply used to reduce the bank's leverage and risk profile. </span></span>Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0tag:blogger.com,1999:blog-1208341576216772831.post-26950297682180443962012-01-16T10:02:00.000-08:002012-01-16T10:02:42.527-08:00Should You Refinance Your Mortgage at Lower Rates? A Little Research and a Couple Questions Should Save Canadians Thousands of Dollars.The CBC and other news media outlets have been heavily publicizing Canada's historically low mortgage rates. This highlights that fact that many home-owners and real estate investors need to seriously consider whether or not they should refinance their current mortgage. How does someone know if they should cancel their existing mortgage and obtain a new one at a lower rate?<br />
<br />
<br />
<ul><li>A little research and simple mathematics. Ask your current lender how much it would cost to pay off your mortgage early. Generally it will be one of two amounts:</li>
</ul><br />
<br />
1. Three months mortgage interest.<br />
2. The "Interest-Rate-Differential," or IRD.<br />
<br />
Three months interest is a simple calculation, but the IRD can be a little more nebulous. It depends primarily on two factors: how many months are remaining on your existing mortgage, and the rate difference between the current lenders rate that you have, and what their current posted rate is. If they would make more money off you than a new customer, they will penalize you accordingly. To get the most reliable amount for a penalty, the lender's head office or mortgage servicing department is best. The representative at the local branch can often be less forthcoming.<br />
<br />
<br />
<ul><li>Next you need to take the cost of the penalty, and decide if it is less than the total amount of money saved from obtaining a better interest rate at a different institution. For example, if your current penalty is $2000, but you would save $200 per month for the next 5 years ($200 x 60), or $12,000, if you moved to another lender, financially you would clearly be better off paying the penalty and savings $200 per month. </li>
</ul><div>It is important to keep a close eye on your finances and ask the important questions to ensure that you are not being taken advantage of as a consumer. So please, question your lender. Ask what your penalty is and see if it would be better for you to move somewhere else. A vibrant and competitive marketplace can only exist with informed customers. </div>Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0tag:blogger.com,1999:blog-1208341576216772831.post-15804772120831795992012-01-10T17:40:00.000-08:002012-01-10T17:42:12.715-08:00Condo Risks for Investors. Careful not to get Burned.<div><a href="http://business.financialpost.com/2012/01/10/highlights-from-a-strong-december-for-housing-starts/">Condo risk bubbles up | Economy | News | Financial Post</a>: </div><br />
According to the Canada Mortgage and Housing Corporation and the Financial Post, housing starts in Canada continue to rise. A huge disconnect, however, has now developed between single family and multi-unit buildings. Condo and multi-unit construction is up over 17% this year, while construction of detached homes has started to fall-off, declining by over 12%. <br />
<div><br />
</div><div>According to the law of supply and demand, increased supply for condominiums in Toronto and Vancouver, without a requisite demand from new buyers, will undoubtedly result in a price drop for new units in the area. Detached homes, however, may experience a more elongated rise in prices, or at least a more cushioned fall, should prices decline across the board during a down-turn in the economic cycle because construction of them has largely slowed. </div><div><br />
</div><div><span style="background-color: white; font-family: georgia; line-height: 20px; text-align: -webkit-auto;">“The multi side of the market certainly looks more at risk given the supply situation,” he said. “Prices have been pretty resilient so far, but the concern is if we do get a correction in prices the fact that the supply of condos is looking so much more ample, those will be more at risk. Singles are actually looking pretty tight be historical standards.” (Financial Post).</span></div><div><span style="background-color: white; font-family: georgia; line-height: 20px; text-align: -webkit-auto;"><br />
</span></div><div><span style="background-color: white; font-family: georgia; line-height: 20px; text-align: -webkit-auto;">Both the Royal Bank and the Bank of Montreal have now expressed warnings about an overheated condominium market in Canada's major population centres. Special attention should be paid to "investor-owned" condominium properties. This is because market rents have to be commensurate with the cost to carry the mortgage on over-inflated property prices. Should prices fall, and rent not cover the mortgage, this will be a double edged sword for investors. They could lose money as the sale price of their condo falls, but they could also lose money trying to carry a mortgage on a property that cannot be rented out. </span></div><div><span style="background-color: white; font-family: georgia; line-height: 20px; text-align: -webkit-auto;"><br />
</span></div><div style="text-align: -webkit-auto;"><span style="line-height: 20px;">For those who live in their units, the risk is much lower, as there is no imminent need to sell or <span class="blsp-spelling-corrected" id="SPELLING_ERROR_0">realize</span> a positive cash-flow from the units, they simply have to wait out the market in their primary residence.</span></div><div style="text-align: -webkit-auto;"><span style="line-height: 20px;"><br />
</span></div><div style="text-align: -webkit-auto;"><span style="line-height: 20px;">Point of advice: Be wary of buying a metropolitan condominium as an investment property in the current market. A number of warning signs indicate that you might get burned. </span></div>Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0tag:blogger.com,1999:blog-1208341576216772831.post-56498411310960899272011-11-28T12:20:00.000-08:002011-11-28T12:20:27.570-08:00Riocan Real Estate Buys Another Property Near Toronto. Tanger and Riocan also Developing Shopping Centre in Kanata.Riocan Real Estate, Canada's largest real estate investment trust, has partnered with American firm Tanger Factory Outlet Centers to buy the Cookstown Outlet Mall.<div><br /></div><div>Riocan and Tanger are paying $62 million for the property, which is located approximately 50 km north of Toronto. The property consists of 161,000 square feet of retail space and Riocan will provide the development and property management services for the location. </div><div><br /></div><div>Riocan and Tanger are also partnering to develop 50 acres of land in Kanata Ontario, which will greatly benefit from the Ottawa market. </div><div><br /></div><div>Riocan is now the largest real estate investment trust in Canada with a total market capitalization of almost $12 billion. For investors, it currently yields about 5.5%, and has been increasing distributions at a fairly steady pace for years. The commercial property market in Canada has been healthy as of late, and the Canadian consumer has proved particularly vibrant by comparison to those in the United States. This has boded very well for Riocan and its owners. </div><div><br /></div><div>Full Disclosure: Matthew J.W. Clarke owns or indirectly controls shares in Riocan Real Estate.</div>Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0tag:blogger.com,1999:blog-1208341576216772831.post-69060749642641061872011-11-27T14:51:00.000-08:002011-11-27T14:51:36.511-08:00Recent Economist Study States Canadian Real Estate Overvalued. Rents and Incomes do not Support Prices. Will Home Prices in Canada Start to Fall?<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFRFFMS_4b9ncMjMlcqB7YXEDxiPld0Jm5eh8dZ1OD6TvEmMg0C5GUBKJafJijQ2mRAx8ybGqUKwN7MgkHorOfNLvS-lmecSE7O1o15a5v_x6NHV8Rp6m0K7Jyue-9nBtEFNQnrjixJ4A/s1600/Economist+Home+Prices.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFRFFMS_4b9ncMjMlcqB7YXEDxiPld0Jm5eh8dZ1OD6TvEmMg0C5GUBKJafJijQ2mRAx8ybGqUKwN7MgkHorOfNLvS-lmecSE7O1o15a5v_x6NHV8Rp6m0K7Jyue-9nBtEFNQnrjixJ4A/s640/Economist+Home+Prices.gif" width="224" /></a></div><span style="font-family: "Helvetica Neue", Arial, Helvetica, sans-serif;">A recent study conducted by the Economist indicates that housing prices in Canada are overvalued by 29% according to historical metrics that compare income levels to home prices. More astoundingly, according to measures that utilize current rental rates, the study suggests that property may be overvalued by 71%! This same situation is true in Belgium, France, Australia, New Zealand, Sweden, Spain, the Netherlands, and Britain. American real estate, having already undergone a massive correction, is undervalued by 8 to 22% according to the </span><a href="http://www.economist.com/node/21540231"><span style="font-family: "Helvetica Neue", Arial, Helvetica, sans-serif;">Economist study</span></a><span style="font-family: "Helvetica Neue", Arial, Helvetica, sans-serif;">.</span><br />
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<span style="font-family: "Helvetica Neue", Arial, Helvetica, sans-serif;">This raises two questions according to the Economist. </span><br />
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<span style="font-family: "Helvetica Neue", Arial, Helvetica, sans-serif;"><strong>1) Are American prices set to rebound?</strong> </span><br />
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<span style="font-family: "Helvetica Neue", Arial, Helvetica, sans-serif;">"Prices may have reached a floor, but this is no guarantee of an imminent bounce. In Britain and Sweden in the mid-1990s, prices undershot fair value by around 35%. Prices in Britain did not really start to rise for almost four years after they bottomed. Some 4m foreclosed homes could come onto America’s market, which may hold down prices." (The Economist).</span><br />
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<span style="font-family: "Helvetica Neue", Arial, Helvetica, sans-serif;"><strong>2) Are overvalued markets likely to experience steep price declines?</strong> </span><br />
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<span style="font-family: "Helvetica Neue", Arial, Helvetica, sans-serif;">"Some economists reject our measures of overvaluation, arguing that lower interest rates justify higher prices because buyers can take out bigger mortgages. There is some truth in this, but interest rates will not always be so low. The recent jump in bond yields in some euro-area countries has raised mortgage rates for new borrowers. And low rates need to be balanced against the fact that tighter credit conditions make it harder for home buyers to get mortgages... Another popular argument used to justify sky-high prices in countries such as Australia and Canada is that a rising population pushes up demand. But this should raise both prices and rents, leaving their ratios unchanged. Prices do not necessarily need to drop sharply to return to fair value. Adjustment could come through higher rents and wages. With low inflation, however, it could take a decade or more before price ratios return to their long-run average in some countries." (The Economist).</span>Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0tag:blogger.com,1999:blog-1208341576216772831.post-46591696567749993512011-10-16T18:04:00.000-07:002011-10-16T18:04:50.595-07:00Fixed or Variable Rate Mortgage? Now is the Time for Which? Have Your Advisor Prepare the Right Documents.<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikbglSqGO-6zJuyEBva7DSvgPmT5GtSXROzrM9jTBCVf4mtUUN2fMzZthKLhNzAhKuIazNzc0ZeYCBYj1Z6juiIF1-Wq6ST2X-CucW_vCMnCR6TigWVRiLY7WKYLMFv3cAoyHNbx6PwWs/s1600/house+keys.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="126" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikbglSqGO-6zJuyEBva7DSvgPmT5GtSXROzrM9jTBCVf4mtUUN2fMzZthKLhNzAhKuIazNzc0ZeYCBYj1Z6juiIF1-Wq6ST2X-CucW_vCMnCR6TigWVRiLY7WKYLMFv3cAoyHNbx6PwWs/s200/house+keys.jpg" width="200" /></a></div>In a recent study conducted by the Bank of Montreal, "variable-rate mortgages have worked out to be better than fixed-rate mortgages 83 per cent of the time since 1975." That is an impressive statistic in favour of variable rates. In today's current environment, however, there are a number of key reasons to think fixed rates might be the better option for most borrowers. <br />
<br />
Firstly, it is extremely rare to get a fixed rate mortgage historically below 5 percent. With some clients being able to get fixed rates under 3%, clear advantages are available for some individuals that historically simply have not usually been available. If you can lock-in around 3%, or even under in some cases, it is often more advisable to do so depending on your situation. To be sure, for those who want added security, 10 year fixed rates are even available in the 4% range. <br />
<br />
Generally, the spread between fixed and variable rates is much higher. Just last month I was able to get a client a variable rate of Prime minus 0.8%, or 2.2%... this month, however, variable rates have largely risen to Prime minus 0.5%, or 2.5%. If one can obtain a fixed rate for only around 3%, the advantage of the variable rate is only half a point. Too many, half a point is simply nor worth the worry of rate fluctuations and at the end of the day, peace of mind is worth much more to people than they realise. <br />
<br />
Most of my investment and mortgage clients are much more risk averse than they initially realize and protecting your clients from both fear and greed should be the hallmark of most advisors. So you should think of how much you can afford your mortgage payments to fluctuate should rates change, and ask your advisor to prepare you a document outlining how much your payments will be at each rate. If you feel comfortable with a fairly reasonable level of increases, then perhaps variable is for you, otherwise be content with today's low fixed rate environment.<br />
<br />
Cheers, and be sure to comment or e-mail any of your questions.<br />
<a href="mailto:matthew.j.w.clarke@gmail.com">matthew.j.w.clarke@gmail.com</a>Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com1tag:blogger.com,1999:blog-1208341576216772831.post-44358858692442179672011-10-10T11:28:00.000-07:002011-10-10T11:28:58.502-07:00Mortgage Rates to go up at Royal Bank and CIBC after Thankgiving. Other Banks to Follow. Vote with your Wallet and get your Mortgage Elsewhere.<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEilbncPc37SpXc1wvrLKXFbOpi3hGe-Jwq-AddhUnJ-7W5BPH0TMbwlCRksr4oAkKzSJbGITajvScRjfOxCzVmv71UkS5a149W_gmjpFgwcwGdcjpx_e4LRLieNGqHafWH9j4SuUzil0mo/s1600/RBC.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEilbncPc37SpXc1wvrLKXFbOpi3hGe-Jwq-AddhUnJ-7W5BPH0TMbwlCRksr4oAkKzSJbGITajvScRjfOxCzVmv71UkS5a149W_gmjpFgwcwGdcjpx_e4LRLieNGqHafWH9j4SuUzil0mo/s200/RBC.jpg" width="200" /></a></div><span style="font-family: "Helvetica Neue", Arial, Helvetica, sans-serif;">According to the Canadian Press, mortgage rates at Canada's largest banks will be on the rise after the Thanksgiving weekend. Strong U.S. jobs numbers have caused the cost of borrowing to rise for banks in the bond market, and as usual these costs will be passed on by our banks to the Canadian consumer.</span><br />
<br />
<span style="font-family: Arial;">The Royal Bank is raising rates on both variable and fixed rate mortgages. At Canada's biggest bank, a five year closed rate will be 5.29%, well above rates available at mortgage brokerages and other lenders. CIBC also increased its five year rate to 5.29% for most customers. Canadians should vote with their money and choose to do business somewhere else.</span><br />
<br />
<span style="font-family: Arial;">Post or E-Mail Your Comments and Questions.</span>Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0tag:blogger.com,1999:blog-1208341576216772831.post-30600152145937275732011-09-23T14:36:00.000-07:002011-09-23T14:36:21.465-07:00Dundee International<a href="http://dundeeinternational.com/">Dundee International</a>:<br /><br />Dundee International has been holding up very well during recent market turbulence. With equity markets posting their worst weekly return since 2008, a stock that provides a stable and reliable stream of income is a breath of fresh air. <div><br /></div><div>Dundee International is paying investors 8% per annum, well above current T-Bill and Bond rates, and far higher than any other current savings vehicles offered at your local bank branch. As mentioned on this site before, Dundee International holds a disparate array of commercial properties that it leases out primarily to Germany`s pre-eminent postal service. With a reliable tenant, the default risk for Dundee International is currently low. </div><div><br /></div><div>Personally, I own Dundee International for the cash it generates and the diversity it provides my equity portfolio.</div><div><br /></div><div>Highlighted on the company website are three key reasons to own this stock:</div><div><br /></div><div><span class="Apple-style-span" style="font-family: adrianna, sans-serif; letter-spacing: 1px; background-color: rgb(255, 255, 255); "><div class="rotatorBlock" style="line-height: 16px; margin-top: 11px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 16px; vertical-align: baseline; background-image: initial; background-attachment: initial; 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margin-right: 0px; margin-bottom: -242px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 16px; vertical-align: baseline; background-image: url(http://dundeeinternational.com/img/index/7.jpg); background-attachment: initial; background-origin: initial; background-clip: initial; background-color: initial; position: relative; top: 0px; left: 0px; width: 278px; height: 242px; opacity: 1; z-index: 5; background-position: 0px 0px; background-repeat: no-repeat no-repeat; "></div><div class="img" style="margin-top: 0px; margin-right: 0px; margin-bottom: -242px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; 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outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; float: right; width: 286px; height: 291px; "><div class="copy" style="margin-top: 18px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; width: 286px; height: 170px; overflow-x: hidden; overflow-y: hidden; line-height: 18px; color: rgb(1, 64, 115); "><ul style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; list-style-type: none; list-style-position: initial; list-style-image: initial; background-position: initial initial; background-repeat: initial initial; "><li class="first" style="margin-top: 5px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 15px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: url(http://dundeeinternational.com/img/index-text-bullet.gif); background-attachment: initial; background-origin: initial; background-clip: initial; background-color: initial; opacity: 1; display: list-item; background-position: 0px 8px; background-repeat: no-repeat no-repeat; ">Unique opportunity to diversify outside of Canada</li><li style="margin-top: 10px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 15px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: url(http://dundeeinternational.com/img/index-text-bullet.gif); background-attachment: initial; background-origin: initial; background-clip: initial; background-color: initial; opacity: 1; display: list-item; background-position: 0px 8px; background-repeat: no-repeat no-repeat; ">Strategically located, geographically diversified portfolio</li><li style="margin-top: 10px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 15px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: url(http://dundeeinternational.com/img/index-text-bullet.gif); background-attachment: initial; background-origin: initial; background-clip: initial; background-color: initial; opacity: 1; display: list-item; background-position: 0px 8px; background-repeat: no-repeat no-repeat; ">Attractive yield and cash flow stability</li></ul></div></div></span></div>Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com1tag:blogger.com,1999:blog-1208341576216772831.post-36426296027548198232011-09-18T14:25:00.000-07:002011-09-18T14:25:39.423-07:00Home Prices up Over $25,000 From Last Year. Low Mortgage Rates Contribute to Growth.<a href="http://www.huffingtonpost.ca/2011/09/15/canada-home-prices_n_964144.html">Home Prices Show August Increase</a>:<br /><br />According to the CBC, Canadian's paid 7.7 percent more for homes than they did last year. The Canadian Real Estate Association said the average sale price for an existing home is now $349,916, up about $25,000 from a year ago. The market clearly remains strong. In addition, economic troubles outside of Canada are keeping interest rates low and mortgages attractive for Canadians.<div><br /></div><div>The Bank of Canada has a number of reasons to keep rates low and encourage the continued rebound in the Canadian housing market. Nationally, Toronto and Vancouver showed some signs of slowing down, with many other parts of Canada picking up steam.</div><div><br /></div><div>E-Mail or comment with any questions.</div>Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0tag:blogger.com,1999:blog-1208341576216772831.post-88133080172455054012011-09-15T05:07:00.000-07:002011-09-15T05:07:19.378-07:00Variable Discounts Quickly Evaporating. Fixed Rates Becoming More Attractive.<a href="http://www.canadianmortgagetrends.com/canadian_mortgage_trends/2011/09/variable-discounts-quickly-evaporating.html">Variable Discounts Quickly Evaporating</a>. Fixed Rates Becoming More Attractive.<br /><br />Variable rate discounts are quickly evaporating at Canada's major banks. Effective tomorrow, TD, Scotia, CIBC, and Royal are reducing the discount under Prime at which they are willing to lend new mortgage money. Soon, the second-tier lenders will follow. <div><br /></div><div>The banks are encouraging borrowers to choose higher margin fixed rate loans, which generate a steady income and stream of profits for the banks. Generally, new rates on variable loans will be in the 2.5% range for A rated borrowers, and in the neighbourhood of 3.29% for fixed rate borrowers. </div>Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0tag:blogger.com,1999:blog-1208341576216772831.post-91036907912996795802011-09-07T11:35:00.000-07:002011-09-07T11:39:17.409-07:00Average Housing Prices Rise Again Across Most of Canada's Major Urban Centres.<span class="Apple-style-span" style="background-color: white;"></span><br />
<div style="text-align: left;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqoncg8MWnXugU1EDqDkCyJecne2JbBoasAqqzp1cb-_62UHi7zE4KDVgd2qpIK4TxVxF1nLqFGTVX3I9zA8-6BnkSUrQWBpsXvwu-dBMgLzOE7fx8B-UzSVFUDxHSTV-ZEWzbv7O8_3s/s1600/average+home+prices.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="177" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqoncg8MWnXugU1EDqDkCyJecne2JbBoasAqqzp1cb-_62UHi7zE4KDVgd2qpIK4TxVxF1nLqFGTVX3I9zA8-6BnkSUrQWBpsXvwu-dBMgLzOE7fx8B-UzSVFUDxHSTV-ZEWzbv7O8_3s/s320/average+home+prices.jpg" width="320" /></a></div><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">July's resale housing price numbers have been released, indicating another year over year increase in most of Canada's major urban centres. Real estate continues a strong upward trend. </span></div><div style="color: #3399ff; font-family: Arial; font-size: x-large; font-weight: bold; text-align: left;"><span style="color: #005696;"><span style="font-size: large;"><span style="font-weight: bold;"><span style="font-family: Arial;"><span style="color: #3399ff; font-size: medium;"><span style="font-family: Verdana;"><br />
</span></span></span></span></span></span></div><span class="Apple-style-span" style="background-color: white; color: #3399ff; font-family: Arial; font-size: medium; font-weight: bold;"><span style="font-family: Verdana;">Average </span><a href="http://www.blogger.com/post-edit.g?blogID=1208341576216772831&postID=9103690791299679580" name="1324522e6934d83b_MLS" style="color: #0000cc; text-decoration: none;" title="MLS"><span style="font-family: Verdana;">MLS</span></a><span style="font-family: Verdana;">® Resale Price for Local Markets</span></span><span class="Apple-style-span" style="background-color: white;"></span><br />
<div style="color: #3399ff; font-family: Arial; font-size: x-large; font-weight: bold; text-align: left;"><table cellpadding="2" cellspacing="0" style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; width: 573px;"><tbody>
<tr><td style="background-color: #3399ff; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; color: white; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><span style="font-family: Verdana;">City</span></td><td style="background-color: #3399ff; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; color: white; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="font-family: Verdana;">July 2011</span></div></td><td style="background-color: #3399ff; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; color: white; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="font-family: Verdana;">July 2010</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Halifax</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 262,723</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 245,944</span></div></td></tr>
<tr><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Saint John</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 158,448</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 176,061</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Quebec</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 240,225</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 237,605</span></div></td></tr>
<tr><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Montreal</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 317,519</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 303,317</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Ottawa</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 342,925</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 322,342</span></div></td></tr>
<tr><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Toronto</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 459,122</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 420,455</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Hamilton/Burlington</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 349,235</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 309,293</span></div></td></tr>
<tr><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Winnipeg</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 238,258</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 225,191</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Saskatoon</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 303,439</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 289,715</span></div></td></tr>
<tr><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Regina</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 272,548 </span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 281,836</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Calgary </span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 397,613</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 402,809</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Edmonton</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 334,444</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 329,731</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Vancouver</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 761,673</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 657,815</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Victoria</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 467,052</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 496,943</span></div></td></tr>
</tbody></table></div><div style="text-align: left;"><span class="Apple-style-span" style="background-color: white;"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">E-Mail or comment with any questions or concerns:</span></span></div><div style="text-align: left;"><span class="Apple-style-span" style="background-color: white;"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;"><a href="mailto:matthew.j.w.clarke@gmail.com">matthew.j.w.clarke@gmail.com</a></span></span></div><div style="text-align: left;"><span class="Apple-style-span" style="background-color: white;"><br />
</span></div><div style="text-align: left;"><span class="Apple-style-span" style="background-color: white;"><a href="http://www.kingstonhomeloans.ca/"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">www.kingstonhomeloans.ca</span></a></span></div>Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0Kingston, ON, Canada44.263565 -76.50335999999998644.123223 -76.743031499999987 44.403907 -76.263688499999986tag:blogger.com,1999:blog-1208341576216772831.post-2712871434703511562011-09-07T06:39:00.000-07:002011-09-07T06:39:50.256-07:00Lending Rates Hold at Historically Low Levels. Mortgage and Consumer Lending Stays Cheap Money, Could go Even Lower.<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhX1QGRMNiOrD1vg2CdG3MT_iZ5a11wy08oGj11C6IYck-4GmDe50u2AdswnnA8EzK5aI1d50XCSGgeLnLroLwUK0QKjxd11fJyKRK8WlEAJXGzt3bj0zBhU0ULvRvYMPCHOOjth7fDqkk/s1600/current+rates.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="192" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhX1QGRMNiOrD1vg2CdG3MT_iZ5a11wy08oGj11C6IYck-4GmDe50u2AdswnnA8EzK5aI1d50XCSGgeLnLroLwUK0QKjxd11fJyKRK8WlEAJXGzt3bj0zBhU0ULvRvYMPCHOOjth7fDqkk/s200/current+rates.jpg" width="200" /></a></div><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">Mortgage and lending rates should remain relatively steady over the short-term as Bank of Canada governor Mark Carney decided to hold the benchmark lending rate at 1 percent today. Borrowing costs should remain low, hopefully spurring the purchase of more housing and other big ticket items like cars by Canadians. This is good news for anyone shopping for a home or investment property soon, and anyone who has existing variable rate debt. </span><br />
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<span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">In the <a href="http://www.theglobeandmail.com/report-on-business/economy/interest-rates/mark-carney-signals-long-pause-on-rate-hikes/article2156284/">Globe and Mail</a> today, Mark Carney is cited as saying:</span><br />
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<span class="Apple-style-span" style="background-color: white; line-height: 16px;"><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: black; font-style: inherit; font: normal normal normal 12px/1.5 Verdana, sans-serif; margin-bottom: 20px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">“In light of slowing global economic momentum and heightened financial uncertainty, the need to withdraw monetary policy stimulus has diminished.”</span></div></span><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;"><span class="Apple-style-span" style="background-color: white; line-height: 18px;">“The Bank will continue to monitor carefully economic and financial developments in the Canadian and global economies, together with the evolution of risks, and set monetary policy consistent with achieving the 2-per-cent inflation target over the medium term.’</span><span class="Apple-style-span" style="background-color: white; line-height: 18px;">’</span></span><br />
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<span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">In layman's terms, the global economy is doing worse than expected, and trouble in Europe and the United States is forcing Canada to keep stoking its economy to encourage domestic spending and consumption.</span><br />
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<span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">Most importantly, the door has now been left open for the Bank of Canada to actually cut interest rates going forward instead of raise them... money is cheap and in Canada it might just get even cheaper : )</span><br />
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<span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">Please post or e-mail me your comments and questions.</span><br />
<a href="mailto:matthew.j.w.clarke@gmail.com"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">Matthew J.W. Clarke.</span></a>Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0Kingston, ON, Canada44.263565 -76.50335999999998644.123223 -76.743031499999987 44.403907 -76.263688499999986tag:blogger.com,1999:blog-1208341576216772831.post-55607895081715141812011-09-05T13:56:00.000-07:002011-09-05T13:56:02.409-07:00What Amortization Period is Best when Selecting a Mortgage?<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgo6G39yRC74H_nsy3AuB2ezqk_eWuKc7U2s78wc0EpCZgRz9JN4dVzD7I5d3jG_LvHdPC27E9b2vz19rqQ75AaLmsgT5Kmc1awXTByN5y5ACbvyQdHioo0ApOv1tH55nXNSgQaX_kwQ-w/s1600/mortgage+amortization.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgo6G39yRC74H_nsy3AuB2ezqk_eWuKc7U2s78wc0EpCZgRz9JN4dVzD7I5d3jG_LvHdPC27E9b2vz19rqQ75AaLmsgT5Kmc1awXTByN5y5ACbvyQdHioo0ApOv1tH55nXNSgQaX_kwQ-w/s200/mortgage+amortization.jpg" width="200" /></a></div><span class="Apple-style-span" style="background-color: white;"><strong><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">What amortization will work best for me?</span></strong></span><br />
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<span class="Apple-style-span" style="background-color: white;"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">The lending industry’s benchmark amortization period is 25 years, and this is also the standard used by lenders when discussing mortgage offers, as well as the basis for mortgage calculators and payment tables. Shorter or longer time-frames are also available – up to 30 or even 35 years. </span></span><br />
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<span class="Apple-style-span" style="background-color: white;"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">The main reason to opt for a shorter amortization period is that you’ll become mortgage-free sooner. And since you’re agreeing to pay off your mortgage in a shorter period of time, the interest you pay over the life of the mortgage is, therefore, greatly reduced. A shorter amortization also affords the luxury of building up equity in your home sooner. While it pays to opt for a shorter amortization period, other considerations must be made before selecting your amortization. </span></span><br />
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<span class="Apple-style-span" style="background-color: white;"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">Because you’re reducing the actual number of mortgage payments you make to pay off your mortgage, your regular payments will be higher. So if your income is irregular because you’re paid commission or if you’re buying a home for the first time and will be carrying a large mortgage, a shorter amortization period that increases your regular payment amount and ties up your cash flow may not be your best option.</span></span><br />
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<span class="Apple-style-span" style="background-color: white;"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">Lastly, and very importantly, depending on the interest rate being offered, a longer amortization period might be to your advantage, especially if you are investing in the property as a rental or for a longer period of time. For instance, if you are offered an interest rate in the 3 to 4 percent range, your cost of borrowing relative to inflation is so low, you might as well use more of the lenders money while you can. If you have extra cash, invest it separately from your real estate until a time when interest rates go up, and then put the money onto the mortgage so that you have a lower debt. </span></span><br />
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<span class="Apple-style-span" style="background-color: white;"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">If you have any questions about real estate, mortgages, or investing, send me an e-mail. </span></span>Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0Kingston, ON, Canada44.263565 -76.50335999999998644.123223 -76.743031499999987 44.403907 -76.263688499999986tag:blogger.com,1999:blog-1208341576216772831.post-4793412797728745302011-09-04T16:48:00.000-07:002011-09-04T16:48:23.968-07:00How to Ensure Your Credit Score Qualifies you for the Best Mortgage Rate.<br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjJwP-faZo21al3voepmMZqwxQBK9Qb3F0iInRqoLoO1azLEoYdn5eC4-PFbh0ddonWLYfv6NeHnjIjPfqerEK9LGaVxX1pLmei-XWldA2TvX_HTrMQawZz5dZS6C0jEoJGDtF2hGb-8QY/s1600/credit+score.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="182" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjJwP-faZo21al3voepmMZqwxQBK9Qb3F0iInRqoLoO1azLEoYdn5eC4-PFbh0ddonWLYfv6NeHnjIjPfqerEK9LGaVxX1pLmei-XWldA2TvX_HTrMQawZz5dZS6C0jEoJGDtF2hGb-8QY/s200/credit+score.jpg" width="200" /></a></div><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><b><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">How can you ensure that your credit score enables you to qualify for the best mortgage rate?</span></b></div><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;"><br />
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<span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">There are several things you can do to ensure your credit remains in good standing. Following are five steps you can follow: </span><br />
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<ul style="margin-top: 0cm;" type="disc"><li class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-list: l0 level1 lfo1;"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;"><strong>1) Pay down credit cards.</strong><strong> </strong>The number one way to increase your credit score is to pay down your credit cards so they’re below 70% of your limits. Revolving credit like credit cards seems to have a more significant impact on credit scores than car loans, lines of credit, and so on.</span></li>
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</span><ul style="margin-top: 0cm;" type="disc"><li class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-list: l0 level1 lfo1;"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;"><strong>2) Limit the use of credit cards.</strong><strong> </strong>Racking up a large amount and then paying it off in monthly instalments can hurt your credit score. If there’s a balance at the end of the month, this affects your score – credit formulas don’t take into account the fact that you may have paid the balance off the next month. </span></li>
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</span><ul style="margin-top: 0cm;" type="disc"><li class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-list: l0 level1 lfo1;"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;"><strong>3) Check credit limits</strong><b>.</b> If your lender is slower at reporting monthly transactions, this can have a significant impact on how other lenders view your file. Ensure everything’s up to date as old bills that have been paid can come back to haunt you. Some financial institutions don’t even report your maximum limits. As such, the credit bureau is left to only use the balance that’s on hand. The problem is, if you consistently charge the same amount each month – say $1,000 to $1,500 – it may appear to the credit-scoring agencies that you’re regularly maxing out your cards. The best bet is to pay your balances down or off before your statement periods close. </span></li>
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</span><ul style="margin-top: 0cm;" type="disc"><li class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-list: l0 level1 lfo1;"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;"><strong>4) Keep old cards.</strong><strong> </strong>Older credit is better credit. If you stop using older credit cards, the issuers may stop updating your accounts. As such, the cards can lose their weight in the credit formula and, therefore, may not be as valuable – even though you have had the cards for a long time. Use these cards periodically and then pay them off. </span></li>
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</span><ul style="margin-top: 0cm;" type="disc"><li class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-list: l0 level1 lfo1;"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;"><strong>5) Don’t let mistakes build up.</strong><strong> </strong>Always dispute any mistakes or situations that may harm your score. If, for instance, a cell phone bill is incorrect and the company will not amend it, you can dispute this by making the credit bureau aware of the situation.</span></li>
</ul><div><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">As always, if you have any questions, just send me an e-mail and I will be happy to help.</span></div>Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0Kingston, ON, Canada44.263565 -76.50335999999998644.123223 -76.743031499999987 44.403907 -76.263688499999986tag:blogger.com,1999:blog-1208341576216772831.post-88530055165081926942011-08-25T11:05:00.000-07:002011-08-25T11:05:26.872-07:00CMHC Says that House Prices will Continue to Rise in the Near Future. Employment, Immigration, and Low Mortgage Rates are Positive.<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJslGLJkEEuE1DSkWm1UZD5qWWqBYuh1e2ea81jDGpRqaN-e6pgF6DpYXai7rtWVsw6RgYXAw3oLlgNPfStJZPkSM5bme6Ak4uCK1BNe6Pg2lGMz2KA3HV1Rh1VILTxI4A2TftkNSiNIs/s1600/House+Money.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJslGLJkEEuE1DSkWm1UZD5qWWqBYuh1e2ea81jDGpRqaN-e6pgF6DpYXai7rtWVsw6RgYXAw3oLlgNPfStJZPkSM5bme6Ak4uCK1BNe6Pg2lGMz2KA3HV1Rh1VILTxI4A2TftkNSiNIs/s200/House+Money.jpg" width="200" /></a></div>The <a href="http://www.canadianrealestatemagazine.ca/news/item/766-house-prices-will-remain-stable-through-2011-then-rise-in-2012-cmhc">Canada Mortgage and Housing Corporation</a> says that house prices will continue to rise in the near future. The average price will probably level out in 2011 to an average of $367,500 and then rise to $372,400 in 2012. Factors such as employment, immigration, and low mortgage rates remain supportive for the housing sector as a whole.<br />
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CMHC also predicts relatively flat mortgage rates through 2011, and that they will moderately increase in 2012. Good news for mortgage borrowers over the next twelve months. Overall, housing starts are also expected to be strong, with 183,900 new builds predicted for the second quarter of 2012.<br />
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For anyone thinking of investing in real estate over the near-term, CMHC brings welcome news.<br />
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Happy Investing : )Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0Kingston, ON, Canada44.263565 -76.50335999999998644.123223 -76.743031499999987 44.403907 -76.263688499999986tag:blogger.com,1999:blog-1208341576216772831.post-19397981549668176562011-08-10T12:54:00.000-07:002011-08-10T12:54:28.109-07:00Ottawa Housing Boom. Real Estate Investors and Home Owners in Ottawa are Experiencing Fast Rising Prices.<span class="Apple-style-span" style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 14px; line-height: 19px;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhUnHZle7F_TcmMTG20TtgIx-zLOIxQXieb6Yj-b9V4-SMoliXgHYctnmMC0keRIp9q-xVnHcKqOScqR5qbhctVO-ZJM-3N7rmh-1jRDhuWi-Hmq3rgOrz3x4VI5gZBjX1q-zT9MEwT3QI/s1600/ottawa+housing.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhUnHZle7F_TcmMTG20TtgIx-zLOIxQXieb6Yj-b9V4-SMoliXgHYctnmMC0keRIp9q-xVnHcKqOScqR5qbhctVO-ZJM-3N7rmh-1jRDhuWi-Hmq3rgOrz3x4VI5gZBjX1q-zT9MEwT3QI/s200/ottawa+housing.jpg" width="200" /></a></div><div style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 14px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Ottawa is experiencing a housing boom and real estate investors have been making easy money in the condo market. First-time buyers are leading the way in purchases. </div></span><span class="Apple-style-span" style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 14px; line-height: 19px;">"The Canada Mortgage and Housing Corporation says housing starts across the country are lagging but Ottawa boasts stronger employment numbers for people in their 20s. These are the people now looking to buy."</span><div><span class="Apple-style-span" style="color: #333333; font-family: Arial, sans-serif;"><span class="Apple-style-span" style="font-size: 14px; line-height: 19px;"><br />
</span></span><span class="Apple-style-span" style="background-color: white; color: #333333; font-family: Arial, sans-serif; font-size: 14px; line-height: 19px;"><div style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 14px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><a href="http://www.cbc.ca/news/canada/ottawa/story/2010/08/11/housing-boom.html">Numbers recently announced</a> by the Canada Mortgage and Housing Corporation (CMHC) reveal that sales of town homes and condos are near record levels. In the last year, hosing starts have risen by more than forty percent, and there does not seem to be any sign of imminent decline. </div><div style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 14px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Ottawa has great earnings projections, increasing housing demand, and a stable employment market, all great trends for real estate investors and home owners. Especially good for developers will be the new light rail lines that should be completed in the near future. Real estate along the lines will be sought after by many of those who want to be close to the downtown core.</div><div style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 14px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Drop me a line if you have any real estate or financial questions, </div><div style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 14px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Happy Investing : )</div></span></div>Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0Ottawa, ON, Canada45.411572 -75.69819445.1241485 -76.251853 45.6989955 -75.144535tag:blogger.com,1999:blog-1208341576216772831.post-89954698898609449542011-08-10T07:21:00.000-07:002011-08-10T07:21:47.406-07:00Interest Rates to Remain Low. Cheap Loans Will Continue for the Near-Term. More Variable Rates and Inflation the Result.<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi6-bsJGc0PjT9qyk-a-6_1KZRCNkCzCFWEpJkWq_Y0jcvi50otOIJYqmpWrfFJyn6nvNZWvZXXYLtrYm-pMnl60XAJgH45H4zbJCAW8uI3l3zKnWbj3sGdJW9scQghIaklFIBlSW9BsuY/s1600/interest+rates.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi6-bsJGc0PjT9qyk-a-6_1KZRCNkCzCFWEpJkWq_Y0jcvi50otOIJYqmpWrfFJyn6nvNZWvZXXYLtrYm-pMnl60XAJgH45H4zbJCAW8uI3l3zKnWbj3sGdJW9scQghIaklFIBlSW9BsuY/s200/interest+rates.jpg" width="162" /></a></div><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">Yesterday's news from the federal reserve that interest rates will remain low for two years provided a sigh of relief for investors and those looking to buy homes over the next little while. </span><br />
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<span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">According to the Globe and Mail:</span><br />
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<span class="Apple-style-span" style="background-color: white; line-height: 13px;"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">"High unemployment, tapped-out consumers and a depressed housing market led the Federal Reserve to say Tuesday that the outlook for recovery in the world’s largest economy is now so tepid that short-term interest rates will probably remain at emergency, near-zero levels until mid-2013."</span></span><br />
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<span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">The Federal Reserve initially lowered rates to the 0 - 0.25% level following the financial crisis in 2008, but the elusive recovery has caused rates to remain largely unchanged since that time. With two more years added to the low rate environment, the markets now have some degree of certainty regarding the Fed's decisions going forward, and an assurance that cheap money will be plentiful for investors and home buyers in the near-term.</span><br />
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<span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">What's the move for those thinking of buying real-estate any time soon? In the current interest rate environment, consider variable rates to save you some cash as any raise in rates going forward is becoming unlikely. And for investors? Be very wary of holding cash as inflation is sure to eat away at your savings quickly. </span><br />
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<span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">For more from the Globe and Mail:</span><br />
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<a href="http://www.theglobeandmail.com/report-on-business/economy/interest-rates/fed-promises-two-years-of-low-rates/article2124029/"><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">http://www.theglobeandmail.com/report-on-business/economy/interest-rates/fed-promises-two-years-of-low-rates/article2124029/</span></a><br />
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<span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">Happy Investing and contact me if you have any home buying or financial questions.</span>Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0Kingston, ON, Canada44.263565 -76.50335999999998644.123223 -76.743031499999987 44.403907 -76.263688499999986tag:blogger.com,1999:blog-1208341576216772831.post-21121619721216684452011-08-03T12:40:00.000-07:002011-08-03T12:40:02.741-07:00Average Sale Prices for Homes in June: Vancouver, Toronto, Victoria, and Calgary all well over $400,000.<span class="Apple-style-span" style="font-weight: bold;"><span style="font-size: medium;"></span></span><br />
<div style="text-align: left;"><span style="font-size: medium;"><span style="color: #3399ff; font-family: Verdana;"><span style="font-weight: bold;">Average Sale Prices for Homes in June: Vancouver, Toronto, Victoria, and Calgary all well over $400,000.</span></span></span></div><div style="text-align: left;"><span style="font-size: medium;"><span style="color: #3399ff; font-family: Verdana;"><span style="font-weight: bold;"><br />
</span></span></span></div><span class="Apple-style-span" style="color: #3399ff; font-family: Arial; font-size: large; font-weight: bold;"><span style="font-size: medium;"><span style="color: #005696;"><span style="font-size: large;"><span style="font-weight: bold;"><span style="font-family: Arial;"><span style="font-size: medium;"><a href="" name="13190ef2f537a9d4_link8" style="color: #0000cc;"><span style="color: #3399ff;"><div style="text-align: left;"><table cellpadding="2" cellspacing="0" style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; width: 593px;"><tbody>
<tr><td style="background-color: #3399ff; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; color: white; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><span style="font-family: Verdana;">City</span></td><td style="background-color: #3399ff; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; color: white; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="font-family: Verdana;">June 2011</span></div></td><td style="background-color: #3399ff; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; color: white; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="font-family: Verdana;">June 2010</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Halifax</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 269,605</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 262,992</span></div></td></tr>
<tr><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Saint John</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 168,830</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 175,123</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Quebec</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 245,008</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 236,463</span></div></td></tr>
<tr><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Montreal</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 323,785</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 307,512</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Ottawa</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 354,524</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 328,238</span></div></td></tr>
<tr><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Toronto</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 476,386</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 435,064</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Hamilton/Burlington</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 339,189</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 314,189</span></div></td></tr>
<tr><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Winnipeg</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 243,977</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 233,567</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Saskatoon</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 310,643</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 295,963</span></div></td></tr>
<tr><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Regina</span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 285,613 </span></div></td><td style="background-color: #e8f4fe; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 274,673</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Calgary </span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 415,431</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 412,016</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Edmonton</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 328,695</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 335,271</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Vancouver</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 808,867</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 657,934</span></div></td></tr>
<tr><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">Victoria</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 507,385</span></div></td><td style="border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(153, 153, 153); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(153, 153, 153); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 1px; font-family: Arial; font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div align="left"><span style="color: #666666; font-family: Verdana;">$ 511,498</span></div></td></tr>
</tbody></table></div></span></a></span></span></span></span></span></span></span>Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0tag:blogger.com,1999:blog-1208341576216772831.post-90061858538315026532011-08-03T06:53:00.000-07:002011-08-03T06:54:05.590-07:00Canadian Real Estate Attracting More Chinese Investors. Real Estate Agents and Developers Target Mainland China.<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJw6jmngspIL7vqAuivFXbnaj7yzdRd4sZtKgE2NQOLGc59s3R6AE-PQo4x-PMzhxB3fUNSQOfqZqqGGZJ4KbzYj8fA_TZXJt1HCFqmyrrIfaYAWLFtmocbSPGXBUuV0EHse4PHNdwOkQ/s1600/vancouver+real+estate.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJw6jmngspIL7vqAuivFXbnaj7yzdRd4sZtKgE2NQOLGc59s3R6AE-PQo4x-PMzhxB3fUNSQOfqZqqGGZJ4KbzYj8fA_TZXJt1HCFqmyrrIfaYAWLFtmocbSPGXBUuV0EHse4PHNdwOkQ/s200/vancouver+real+estate.jpg" width="200" /></a></div><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">Condo developments in Vancouver are selling out in mere hours as thousands of Chinese immigrants and investors are using them to make and store their money. Smart local real estate agents and developers are targeting people in mainland China in the hopes of attracting some of their capital as many Chinese citizens are becoming enamoured with the concept of real estate development and ownership. By including Chinese-specific media and targeting their marketing at mainland consumers, western-Canadian condominium developers are making a fortune. </span><br />
<div><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;"><br />
</span></div><div><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">According to Landcor Data Corporation, an astounding 74 percent of buyers for recent luxury developments in Richmond and Vancouver were from Mainland China. Many of the investors do not even rent out or live in their units, preferring simply to leave them vacant as a store of value in a country and region that they see as safe, reliable, and politically stable. </span></div><div><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;"><br />
</span></div><div><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">Toronto also is attracting significant foreign investment in real estate. A recent Etobicoke development called Westlake was largely snapped up by Mainland Chinese investors. To attract more investment, a number of realtors are opening offices in Beijing and Hong Kong to be closer to their target markets. </span></div><div><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;"><br />
</span></div><div><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">For more information on this topic, check out the <a href="http://www.theglobeandmail.com/life/home-and-garden/real-estate/buying-and-selling/canadian-real-estate---a-piggy-bank-for-chinese-investors/article2055668/singlepage/#articlecontent">Globe and Mail.</a></span></div><div><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;"><br />
</span></div><div><span class="Apple-style-span" style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">Happy Investing : )</span></div>Matthew Clarke, BA (Hons.), B.Ed., MBA.http://www.blogger.com/profile/05012543786035857193noreply@blogger.com0Kingston, ON, Canada44.263565 -76.50335999999998644.123223 -76.743031499999987 44.403907 -76.263688499999986