111 Douglas Park Blvd. SE – SOLD

Download Feature Sheet Here

Welcome to this beautiful home in Douglasdale Estate.  There are a number of quality features and upgrades of this home that you are sure to fall in love with.  To start off with, this is a gorgeous corner lot with potential RV parking, new fencing, a partially covered-two tiered deck, a new 10×10 shed, abundance of rose bushes all located steps from Fish Creek Park. There is an 8 person hot tub that is only 3 years old.  The roof was just redone in March 2009 with a 20 year transferable warranty to the new owners.  There is Central Air Conditioning in this 4 bedroom and 3.5 bathroom home.  On the mail level, you have a front room that is currently used as an office, but can become a living room or dining room very easily.  The kitchen is an open concept that flows nicely into the nook and family room.  All 7 appliances (including 2 double door fridges) will stay with the home.  The basement is fully developed with a bedroom and ensuite that boasts a large steam shower.  Call today to see this home.

1-888-366-3130
sales@tcgroup.ca

PERSONAL INCOME TAX CHANGES IN 2009 for home owners & home buyers

New tax laws are added every year and tax laws change every year.  Every year, the Government of Canada produces a budget, and along with this budget comes new tax laws and changes.  Also, other changes and amendments happen throughout the year.  As a diligent tax payer, it is always good to know the main changes that are happening. 

These are some personal income tax changes this 2009 for Home Owners & Home Buyers. 

·         Home Renovation Tax Credit (HRTC) –

The HRTC will be a non-refundable tax credit of 15% of eligible expenditures on home renovations made in respect of eligible buildings.  The credit will apply to expenditures over $1,000, but no more than $10,000, with a maximum credit amount of $1,350 per family.

·         First-time Home Buyers Tax Credit –

A new non-refundable tax credit is proposed, based on an amount of $5,000 for first-time home buyers who acquire a qualifying home after January 27, 20093

·         Home Buyers Plan (HBP)

The HBP allows an individual to borrow from an RRSP to buy or build a home, without paying tax on the amount withdrawn.  It is proposed to increase the HBP withdrawal limit from $20,000 to $25,000.

There are a few more changes to the Personal Income Tax which I will discuss next week.  Stay tuned!

 

Don R. Campbell on CBC’s The Hour

Last week, Don Campbell was on CBC’s The Hour with George Stroumboulopoulos (say that 5 times…).  Don is the President of The Real Estate Investment Network, who walks investors through what is happening in the market place along with how to professionally purchase investment properties.

If you missed the show, below is a link to the 10 min video of Don and George.

—Don R. Campbell On CBC’s The Hour—

Don touches on some hot spots in Canada, how the US will effect Canada and other great subjects.  At the end of his time in this clip, he does talk about investing is a thing for the future, and not an immediate cha-ching cash in.  Flippers in the market are not flipping…

FACEBOOK Draw…

We are running a Facebook Draw to all fans of our Facebook page for 2 $50 Starbucks Cards…

If you would like to enter this draw, please click on the link below and become a fan of our page.

The Chamberlain Group Facebook Page

BUT… I do have a question for all of you… and what the heck…

Whoever has the best story here will also win a $50 Starbucks Card

If you could spend $50 in one shot at Starbucks, and it HAD TO BE DRINKS that you bought.. what would you buy??? Make it a good story!

We will choose the winner in one week… Next Friday March 27th!

The Ninth Most Dangerous City in The World… Is In Saskatchewan???

Should you break your mortgage?

A very interesting and timely read for those of you locked into high interest rates…

Leah Plaizier

Updated Sat. Mar. 14 2009 7:00 AM ET

Geoff Nixon, CTV.ca News

With interest rates plunging to their lowest levels in decades, many Canadian homeowners are eyeing the prospect of breaking their mortgages to negotiate new ones with more favourable rates.

Experts say that even with the financial penalties that come with breaking a fixed-rate mortgage, many homeowners may be in a position to save money by breaking with their monthly status quo.

Anthony De Almeida, president and CEO of CanEquity Mortgage, says interest rates have fallen so low in such a short period of time that last year’s fixed-rate mortgages now seem “ridiculously high,” even though they would be considered quite low historically.

Such dramatic changes in the market, these experts say, have sent homeowners marching to mortgage brokers to see if breaking their mortgage would be in their best interests.

To break or not to break?

Jim Tourloukis, president of Verico Advent Mortgage Services in Unionville, Ont., says the decision of whether or not to break one’s mortgage can be made through simple mathematics.

“At the end of the day if the balance on their mortgage is less by breaking it, then it makes sense to do it,” Tourloukis told CTV.ca in a phone interview.

Moshe Milevsky, a professor at York University’s Schulich School of Business, said the key factor for homeowners is being in a position to absorb the financial penalty that comes with breaking a mortgage, but still coming out on top.

“It has to be someone that took out a mortgage at a relatively higher rate, maybe three years ago; it’s got to be a relatively long amortization period so the interest clock is ticking at quite a high rate,” he told CTV.ca in a recent phone interview. “For them this simple formula will work out.”

“If it’s only a couple of bucks a month, it may not be worth the hassle of going to the bank,” he added. “But I would say if you can save $20 or $30 a month on the mortgage, why not spend an hour in the bank and go through the paperwork?”

The penalties

In general, the penalty for breaking a mortgage is either a payment of three months interest, or something called the interest rate differential (IRD) — a non-standard calculation which seeks to compensate the bank for the money it loses when a homeowner breaks their mortgage.

“In theory what it represents is the interest cost, or the interest income, that the bank forgoes by you breaking the mortgage,” said Tourloukis, of the IRD.

De Almeida describes the IRD as “the difference between the rate today and the rate that you have currently.”

In any case, the bank charges homeowners the larger of the two penalties, which has tended to be the IRD as interest rates have plummeted.

Then there are legal fees, paid to lawyers who handle the cancellation of the old mortgage and the creation of the new one. De Almeida said these fees typically range between $500 and $1,000.

Once the combined penalties are calculated, they can be added to one’s new mortgage balance or paid off directly depending on the homeowner’s preference and financial means.

More security, less debt

Because interest rates are so very low right now, it may also be attractive for homeowners to negotiate new mortgages where they are locked-in at a fixed rate for the long term.

“The rates haven’t been this low in 50 years or more, so anybody that’s gotten a mortgage in the last three, four, five years is very interested in locking in,” De Almeida said.

De Almeida said he has had many clients looking to lock in to seven or 10-year mortgages, even if it means paying more than they would for a shorter-term mortgage.

“Why not pay a little bit more and have 10 years of security, especially in this market?” he said.

In a similar way, homeowners can decrease their liabilities by opting to take other debt they may have — say credit card or car loan payments — and tack it on to their newly negotiated mortgage, in order to pay it off at better rates.

De Almeida said the combination of low interest rates and an otherwise tight credit market makes it “a perfect time to be throwing your credit cards into a mortgage and to becoming debt-free.”

February 2009 Real Estate Market Review

The real estate market has corrected back to the pace and possibilities of a market far more realistic than what we experienced over the past few years. Trends, however, continue to ebb and flow as always.

Not surprisingly, sales in February greatly increased over the previous few months. Listings, however, failed to keep pace in most Canadian markets. This indicator bears watching as speculators withdraw from the market, leaving serious buyers and sellers expressing true intention through negotiations and decisions.

Stats portraying national trends need to be thoughtfully considered. So-called national housing indexes such as the National Bank/Teranet House Price Index, include figures from only 6 Canadian cities. The real estate industry is local and Canadians are not a frivolous people.

Housing Rebounds In The Cards?

Mortgage Renegotiation Inquiries on the Rise

UNDERSTANDING TAX BRACKETS

Every taxpayer MUST know which tax bracket they belong to and its corresponding Federal and Provincial tax rates. How can you properly prepare a plan and strategy to minimize your taxes if you don’t even know how much you are supposed to pay with the income that you earn?

Here are the Federal & Provincial Tax Rates for 2009:

FEDERAL TAX RATES 2009

  15% on the first $40,276 of taxable income above$10,320 +

  22% on the portion of taxable income between $40,275 and $81,452 +

  26% on the portion of taxable income between $81,452 and $126,264 +

  29% of taxable income over $126,264.

PROVINCIAL TAX RATES for Alberta is 10% flat tax on any amount of income over $16,775.

I hope this has cleared things up for you. I’ll check back next week with a new post on Corporate Taxes. I’ll see you then!

Next Page »