If you can set your budget solidly in place before you head out home or mortgage shopping, you will be far more prepared to purchase your first home.
Following are three top tips to help you prepare for the purchase of your first home:
1. Set up a savings account. You can deposit a predetermined amount into this account each pay period that you will not touch unless it’s absolutely necessary. This will enable you to put money aside for a down payment and cover closing costs, as well as address ongoing homeownership expenses such as maintenance, taxes and utilities.
2. Save up for big-ticket items. As you accumulate money in your savings account, you will be able to also save for specific purchases to help furnish your home – avoiding the buy now, pay later mentality, which can have a negative impact on your credit when you’re seeking mortgage financing.
3. Surround yourself with a team of professionals. When you’re getting ready to make your first home purchase, enlist my services as a licensed mortgage professional and find a trusted real estate agent. Experts are invaluable to you as you set out on the road to homeownership because we help first-time buyers through the home purchase and financing processes every day. Experts can answer all of your questions and set your mind at ease. I have access to multiple lenders, and can help you get pre-approved for a mortgage so you know exactly what you can afford to spend on a home before you head out house hunting, while a real estate agent will be able to match your needs with a house you can afford. Both parties will negotiate on your behalf to ensure you get the best bang for your buck. And, best of all, these services are typically free. Experts will also be able to refer you to oth! er reputable professionals you may need for your home purchase, including a real estate lawyer and home appraiser.
Wednesday, February 3, 2010
Tuesday, October 6, 2009
1809 Kyle Crt.
- Enjoy living in desirable Hyde Park—close to great schools and all the amenities you could possibly want
- Extended Kitchen with breakfast bar
- All Cabinet doors with upgrade finish
- Ceramics
- Hardwood
- 9' foot ceilings
- 4 pce Master Ensuite & Cheater ensuite
- Crown Moulding in Living/Dining areas as well as Master Bedroom
- Fireplace
- Marble Threshold for ceramic/carpet boundary
- Power & Cable already set up for future LCD TV
October
October Dates
1-31, Adopt-A-Shelter-Dog Month
1-31, National Breast Cancer Awareness Month
4-10, Fire Prevention Week
12, Columbus Day
31, Halloween
What Happended in October?
* On October 15, 1989, 28-year-old Los Angeles King Wayne Gretzky breaks Gordie Howe's points record (1,850) in the final period of a game against the Edmonton Oilers.
* On October 16, 1912, New York Giants outfielder Fred Snodgrass drops an easy pop-up in the 10th inning of the tiebreaking eighth game of the World Series against the Red Sox.
* On October 17, 1968, Olympic gold medalist Tommie Smith and bronze medalist John Carlos are forced to return their awards because they raised their fists in a black-power salute during the medal ceremony.
* On October 18, 1977, in the sixth game of the World Series against the Los Angeles Dodgers, New York Yankees outfielder Reggie Jackson hits three home runs in a row off of three consecutive pitches from three different pitchers.
1-31, Adopt-A-Shelter-Dog Month
1-31, National Breast Cancer Awareness Month
4-10, Fire Prevention Week
12, Columbus Day
31, Halloween
What Happended in October?
* On October 15, 1989, 28-year-old Los Angeles King Wayne Gretzky breaks Gordie Howe's points record (1,850) in the final period of a game against the Edmonton Oilers.
* On October 16, 1912, New York Giants outfielder Fred Snodgrass drops an easy pop-up in the 10th inning of the tiebreaking eighth game of the World Series against the Red Sox.
* On October 17, 1968, Olympic gold medalist Tommie Smith and bronze medalist John Carlos are forced to return their awards because they raised their fists in a black-power salute during the medal ceremony.
* On October 18, 1977, in the sixth game of the World Series against the Los Angeles Dodgers, New York Yankees outfielder Reggie Jackson hits three home runs in a row off of three consecutive pitches from three different pitchers.
Sunday, August 9, 2009
310 Millbank Drive
· Enjoy living in desirable Pond Mills surrounded by approx 203 hectares of Westminster Ponds/Pond Mills Environmentally Significant Area with 12 km of managed trails and boardwalks. · Hospitals, schools 401 HYWY and Whiteoaks mall are all easily accessed from this lovely neighbourhood.
· 3 season Sunroom
· 2003 Beachcomber Hot tub with new lid
· Breaker box updated 2003
· Deck 20’ x10’
· Siding soffit, fascia, eavestrough windows and doors caped 1998
· Roof 1999
· Air 2003
· Hardwoods throughout main floor and bedrooms
· Front Porch added 2 years ago
Room Dimensions
Living Room 14’4” X 13’9”
Living Room 14’4” X 13’9”
Kitchen 11’6” X 10’2”
Dining Room 11’6” X 8’3”
Bedroom 11’0” X 11’2”
Bedroom 9’6” X 8’10”
Master Bedroom 11'0” X 11'10”
Family Room 19’11” X 10’0”
Den 10’6” X 8’8”
Rec Room 9’.0” X 15’4”
All meas. approx. and to be verified by the buyer
July sales down, but prices up
Last month, 904 homes exchanged hands in the jurisdiction of the London and St. Thomas Association of REALTORS® (LSTAR), a 4.8-per-cent decrease over July 2008. This includes 734 detached homes (down 1.2 per cent from July 2008) and 170 condos (down 17.9 per cent from July 2008). Year to date, 4,026 detached homes and 923 condos have been sold – down 9.3 per cent and 19.9 per cent respectively compared to the same period in 2008.
Sales in St. Thomas continue to stabilize – 72 homes exchanged hands in July 2009, a 2.9-per-cent increase over July 2008. The average residential price year-to-date in St. Thomas is $183,571, a 1.3-per-cent decrease over last year.
“Although July sales decreased 4.8 per cent over the same period last year, the average residential price for July 2009 actually increased by 4.1 per cent to $219,260,” says Joe Hough, LSTAR President. “Year-to-date for July 2009, the total residential average price is up 0.2% to $213,002, compared with an increase of 1.5% in June ($211,583), a decline of 1.2% in May, 1.8% in April, 2.7% in March, 2.4% in February and 2.8% in January.”
“Sales momentum remains strong going into the second half of 2009,” says Dale Ripplinger, President of The Canadian Real Estate Association. “Chances are good that the number of transactions in the second half of 2009 will surpass levels in the first half of the year.”
Sales in St. Thomas continue to stabilize – 72 homes exchanged hands in July 2009, a 2.9-per-cent increase over July 2008. The average residential price year-to-date in St. Thomas is $183,571, a 1.3-per-cent decrease over last year.
“Although July sales decreased 4.8 per cent over the same period last year, the average residential price for July 2009 actually increased by 4.1 per cent to $219,260,” says Joe Hough, LSTAR President. “Year-to-date for July 2009, the total residential average price is up 0.2% to $213,002, compared with an increase of 1.5% in June ($211,583), a decline of 1.2% in May, 1.8% in April, 2.7% in March, 2.4% in February and 2.8% in January.”
“Sales momentum remains strong going into the second half of 2009,” says Dale Ripplinger, President of The Canadian Real Estate Association. “Chances are good that the number of transactions in the second half of 2009 will surpass levels in the first half of the year.”
Sunday, July 19, 2009
Guy Lombardo
Guy Lombardo (1902- 1977) leader of the big-band era “The Royal Canadian’s” and known for his yearly rendition of “Auld Lang Syne” which is still played on new years at Times Square in New York City, was born in London Ontario.
Monday, July 6, 2009
Housing market fires up
Momentum may be building in the London-area real estate market, with June sales up 5% over the same month last year.
Sales had not been in positive territory since last September and bottomed out last November -- when they were 41% below the same month in 2007.
But last month, the London and St. Thomas Association of Realtors (LSTAR) said, 946 detached homes and condominiums sold in June, up from 903 in June 2008.
Year-to-date sales for 2009 are still down about 20% compared to the first half of 2008.
LSTAR president Joe Hough said consumer confidence has been steadily improving and low mortgage rates and federal government incentives are drawing more and more buyers into the market.
Hough noted St. Thomas had an especially good month in June, with 90 sales in the city -- an increase of 32.4% over the same month last year
"I'm feeling very positive. Every month, we're gaining a bit of steam."
A few months ago buyers were gaining the upper hand as the number of homes listed jumped about 25%.
But Hough said the market is getting more balanced and there have even been bidding wars.
"We have seen a few here. When a property is priced right, people recognize that," Hough said.
He said the market is still weighted toward modestly priced homes.
There was more improvement in prices last month. The average year-to-date house price was $211,584, down just 0.7% from the first six months of 2008.
The average price bottomed out in January when it was 2.8% below the same month last year.
The London-St Thomas area is following a national trend with sales and prices showing signs of revival in major markets across Canada.
"Sales activity is now closer to the pre-recession peak than it is to the recent low point reached last January," said Dale Ripplinger, president of the Canadian Real Estate Association (CREA).
Hough said homes sales act as economic stimulus. CREA has calculated each home sale generates $32,000 in spinoff spending on furniture, appliances and renovations.
Hough said the revival in resale homes would eventually filter through to the new home construction market as overall demand for housing builds.
"This is going to help everything. I don't think we will see a buying frenzy again but we will see a more stable market."
Sales had not been in positive territory since last September and bottomed out last November -- when they were 41% below the same month in 2007.
But last month, the London and St. Thomas Association of Realtors (LSTAR) said, 946 detached homes and condominiums sold in June, up from 903 in June 2008.
Year-to-date sales for 2009 are still down about 20% compared to the first half of 2008.
LSTAR president Joe Hough said consumer confidence has been steadily improving and low mortgage rates and federal government incentives are drawing more and more buyers into the market.
Hough noted St. Thomas had an especially good month in June, with 90 sales in the city -- an increase of 32.4% over the same month last year
"I'm feeling very positive. Every month, we're gaining a bit of steam."
A few months ago buyers were gaining the upper hand as the number of homes listed jumped about 25%.
But Hough said the market is getting more balanced and there have even been bidding wars.
"We have seen a few here. When a property is priced right, people recognize that," Hough said.
He said the market is still weighted toward modestly priced homes.
There was more improvement in prices last month. The average year-to-date house price was $211,584, down just 0.7% from the first six months of 2008.
The average price bottomed out in January when it was 2.8% below the same month last year.
The London-St Thomas area is following a national trend with sales and prices showing signs of revival in major markets across Canada.
"Sales activity is now closer to the pre-recession peak than it is to the recent low point reached last January," said Dale Ripplinger, president of the Canadian Real Estate Association (CREA).
Hough said homes sales act as economic stimulus. CREA has calculated each home sale generates $32,000 in spinoff spending on furniture, appliances and renovations.
Hough said the revival in resale homes would eventually filter through to the new home construction market as overall demand for housing builds.
"This is going to help everything. I don't think we will see a buying frenzy again but we will see a more stable market."
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