2009 Christmas Contest – WIN A $250 SHOPPING SPREE

BIG CHRISTMAS DRAW / CONTEST…

Watch the Video to find out how you can win a $250 Shopping Spree!!!

Here’s what you can win… these Gift Cards will be for Cross Iron Mills Mall… Check it out!
1st Place $250
2nd Place $50
3rd Place $50

Please enter your story below in the comments…
You can also visit us on our Facebook Page Here…

MERRY CHRISTMAS!

THE DRAW WILL BE DONE ON DEC. 30 @ 2:30 pm… Watch to see who win’s the BIG Money!

Canadian Mortgage Broker News – Big 5 banks cut fixed mortgage rates

Canadian Mortgage Broker News – Big 5 banks cut fixed mortgage rates.

This article discusses the perceived risk of locking into a variable rate mortgage since rates are currently at historically low levels. However, can you sustain your mortgage payment when rates go up? Lender’s typically qualify clients on a posted, 3 year fixed rate to ensure that if rates are to climb, the client should still be able to maintain that client. For example, with prime rate being at 2.25%, the client is not being qualified for the loan at an interest rate of 2.25%. Instead, they are typically using the bank’s, 3 year posted rate which is currently at 4.50%. In addition, in order to qualify for a variable rate mortgage, a client’s debt service ratios follow stricter guidelines than those locking into a fixed rate mortgage.

Leah Plaizier

TMG The Mortgage Group

Canadian Mortgage Broker News – Low rates should come with warning, experts say

Canadian Mortgage Broker News - Low rates should come with warning, experts say

This article discusses the perceived risk of locking into a variable rate mortgage since rates are currently at historically low levels. However, can you sustain your mortgage payment when rates go up? Lender's typically qualify clients on a posted, 3 year fixed rate to ensure that if rates are to climb, the client should still be able to maintain that client. For example, with prime rate being at 2.25%, the client is not being qualified for the loan at an interest rate of 2.25%. Instead, they are typically using the bank's, 3 year posted rate which is currently at 4.50%. In addition, in order to qualify for a variable rate mortgage, a client's debt service ratios follow stricter guidelines than those locking into a fixed rate mortgage.

Canadian Mortgage Broker News – Big 5 banks cut fixed mortgage rates

Canadian Mortgage Broker News - Big 5 banks cut fixed mortgage rates

After a quick increase in rates last October, the major banks have lowered fixed rate mortgages. The article speaks to the bank's posted rates while brokers have access to further discounted rates. Broker discounted 5 year fixed rates are currently 4.19%.

Please email me if you are interested in further discounts with regards to TD bank.

Leah

leah@mortgagegrp.com

October 2009 Market Update

The Calgary housing market continued to rebound in October, according to figures released by the Calgary Real Estate Board.The number of single-family homes and condos sold in October were both up from the same time one year ago. October recorded 1285 single-family homes sold in Calgary, an increase of 57% from October 2008, and 2% higher than September this year. Condominium sales ( 601 units) increased by 51% compared to sales last year and were 4% over sales recorded in September this year.

“Calgary’s housing market has clearly turned a corner,” says Board President. “We expect there to be a few bumps on this road to recovery but we believe the worst is over. Home prices have held firm and edged upwards in some markets over the past months. This has helped buoy up the confidence of both buyers and sellers.”

Single-family new listings added for the month of October declined by 2% from September and were 22% fewer than new listings last October. Condominium units coming to market declined by 9% compared to September numbers this year and were 20% fewer than condo listings last year at this same time.

The median price of a single-family Calgary home was $410,000, showing a 3% increase over September and 5% higher than last October. The median sale price for condominiums registered at $263,900, down 1% from the month before and 2% below last October’s median.

1528 McAlpine Street Carstairs AB – SOLD

1528 McAlpine Street

This beautiful home is 1,419 sq ft with 3 bedrooms up and is in the quiet town of Carstairs Alberta. It is only a 30 minute drive to Calgary from here. There is hardwood, tile and lino on the main level with an open kitchen and upgraded dark cabinets. The living room is a beautiful hardwood with a gas stoned surround fireplace. This home is high efficient with a flow through water heater, high end furnace and Low-E Argon filled windows. You will notice the quality and top end craftsmanship in this home as soon as you enter through the front door. This is a quality built home by Terra Banah Builders.com out of Calgary. This home is one that you will truly be in awe of.

Here is a map of many of the great amenities that are in Carstairs Alberta.

View Carstairs Chamber of Commerce in a larger map

1228, 2371 Eversyde Ave SW Calgary AB

1228, 2371 Eversyde Ave SW

Here is a beautiful condo that is truly steps away from Starbucks and all of your necessities. This is a 701 sq ft condo that has 2 bedrooms and a single bathroom. It has an open floor plan that you are sure to love. With the insuite laundry and stall parking, the value in this condo is there. Don’t miss a great opportunity.

If you are looking to buy or sell a home in the Calgary area, we are never to busy for your business or referrals.

View Larger Map

Low Mortgage Rates Encourage Home Buyers

Housing market to improve in 2010: CMHC forecast

OTTAWA - Canada's national housing agency has upgraded its forecast for the new-housing market next year on the grounds that low mortgage rates will continue to make home ownership affordable, the economy will be better that previously thought and there will be a spillover effect from the surging resale market. Housing starts are forecast to reach 141,900 in 2009 and rise to 164,900 next year, the Canada Mortgage and Housing Corp. said Monday in its quarterly outlook. This year's forecast is unchanged from the previous one issued in September, but expectations for next year's numbers increased from about 150,000. Such levels still pale to 2008's final tally of 211,056, which marked the seventh straight year of more than 200,000 housing starts. Bob Dugan, chief economist at CMHC, said the earlier part of this decade was an "exceptional period," that is unlikely to be matched in the foreseeable future He explained that average new-household creation in Canada runs at about 175,00 annually, and the elevated rate of housing starts seen between 2002 and 2008 was not sustainable for the long term given that reality. Dugan said by 2011 or 2012, housing starts should be close to equal with the household-creation rate. To show how far the new-housing market has come this year, Dugan pointed out how the annual rate of housing starts went as low as 118,500 in February and rose to about 150,000 in recent months. "That's a pretty good improvement (but) not as good, though, as the improvement we've seen on the existing-home market," Dugan said. He said between January and September of this year, the rate of monthly existing-home sales has increased about 63 per cent on a seasonally adjusted basis. As the resale market turned from a buyer's market to a seller's market, Dugan said home builders got some of the buyers who couldn't find what they wanted among existing homes. Listed home resales are expected to reach 441,300 units this year and increase to 445,150 units in 2010, CMHC said in its report. Both figures are up from 2008's result of 433,900. The average price for existing homes is forecast to be $312,950 this year and $324,500 in 2010, the agency said, up from $303,607 in 2008. Regionally, British Columbia, Alberta, Saskatchewan and Ontario are expected to post the sharpest year-to-year declines in housing starts this year. Dugan said these provinces have more volatile housing markets, and their gains in other recent years were more pronounced than elsewhere in the country. But Dugan added that these places are also anticipated to recover more strongly in 2010 than regions such as Quebec and Atlantic Canada, where the housing market was less damaged by the economic downturn this past year.