The Worlds Largest Olympic Torch Will Be Flickering For 2010 Olympics

The cauldron atop the Calgary Tower will be burning bright tonight from 7 – 9 p.m. to celebrate the opening ceremony celebrations for the Vancouver 2010 Winter Olympics.

The Tower cauldron will also be lit from 5 – 6 p.m. each day a Canadian Olympic athlete wins a medal during the 2010 Games.

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Speaking out against tighter lending requirements

After providing several comments on the potential housing bubble in Canada, ING Direct Canada president Peter Aceto told the Globe and Mail that Ottawa shouldn't tighten mortgage rules.

"High level, one-stroke fixes are too simple, and can have a very large impact," Aceto told the newspaper. "I worry about government-based tightening of the mortgage rules creating a much worse reaction - too fast of a cooling, which is not really good for anyone."

Aceto went on to say that banks can tighten rules themselves and do not need Finance Minister Jim Flaherty to "make the decision for them."

The comments come alongside a warning from Scotia Capital economists Derek Holt and Karen Cordes, who predicted a housing bubble forming in a report released late last year.

"You can't go from 100 km/h to zero in a nanosecond without suffering harsh consequences," they wrote, according to the Globe. "Newton's third law is the best caution that can be served up with respect to abruptly altering Canadian mortgage rules as per some of the whisper talk leading up to the March 4 federal budget after the currently government sharply liberalized the mortgage market in early 2007."

Verifying Who Your Potential Renter Is

Jared Chamberlain video blogs about tenant verification. As a landlord you will want to make sure that you know who is moving into your property. Great resource www.TenantVerification.com. If you would like to leave a comment or don’t care for Jared’s thoughts, you can email him at Jared@tcgroup.ca

Creating Your First Home Together

Moving in together is an exciting time as you and your partner take the next step in your relationship.  Below is a seven step process that will ensure you and your partner are as happy with your new home as you are with each other.

Step 1: Deciding what type of home to buy. Choosing a type or style of home has a lot to do with lifestyle, it involves location, the amount of space required, and the amount of time you want to put into maintenance or renovations.  Before you begin to look for a home, spend the evening together each making a list of needed features in your new house. Ensure that your lists are separate.

Step  2: Talk through the differences – once your lists are complete come together and compare notes so that you come up with your ideal home. It is important that you discuss the different expectations that you both have of your new home so that you come up with an image of an ideal house that you are both satisfied with.

Step 3: Can you afford it? Before you start to look for your new home make an appointment with a mortgage broker or banker to review your collaborative financial situation. Based on this evaluation they will indicate the maximum mortgage you will be approved.  Ensure that you factor in your other monthly expense and your overall financial plan so that you don’t overspend on your new home.

Tip: Hold Off! Before you buy, hold off on getting a car loan or making any furniture purchases, as any big expenditures on credit will reduce your buying power and hurt your credit score.

Step 4: Ready! Once you have completed your due diligence, call a real estate professional that is a Buyers Specialist to represent you in your home purchase.  This agent will work on your behalf to find properties, arrange showings, monitor the market, and connect you with mortgage brokers.  The agent will also work on your behalf to negotiate the best price and terms.

Tip: A Buyers Specialist is Free. There is no cost to you to use a Real Estate Professional that is a Buyers Specialist, as the seller is responsible for the fee.

Step 5: Watch the Market- if you are interested in current market updates visit www.thecalgaryrealestateblog.com

Step 6: Ugh… packing- packing and moving can be stressful and time consuming. Before you move, make sure that you sort through your own items to eliminate duplicates; have your partner do the same.  This will reduce the hassle of moving unnecessary items and will make moving day a more enjoyable process.

Step 7: Kick up your Feet and Relax –you have moved into your new home.  Take time to enjoy living with your partner.

If you feel overwhelmed about buying or selling a house please e-mail Jared & Rebecca from The Chamberlain Group Sales@tcgroup.ca or visit us on-line at www.chamberlaingroup.ca

More Info On Currie Barracks Re-development

Jared Chamberlain video blogs about the Currie Barracks and the changes that are coming. This is a follow up video to the last one regarding the Barracks as there were a number of inquiries on this project. You can get more info on this project here. If you would like to leave a comment or don’t care for Jared’s thoughts, please email him at jared@tcgroup.ca

Will 10% down payment be the new minimum requirement?

Welcome back! How time flies. Christmas 2009 has come and gone and we're already into February of the new year.

Several people have mentioned the reference to increasing the minimum 5% down payment to 10% while also discussing a decrease in amortization. The last major change with this regard was in October of 2008 when 40 year amortization alongside zero percent down payments were removed. At present time, a client may qualify for a 35 year amortization with a 5% down payment, which in this market, is a very decent sized down payment. Since the infamous "boom" in the Calgary housing market, 5% is no longer what it used to be. On a 300K house this is a 15K down payment which is a significant amount of money. Certainly many people would be forced out of the possibility of home ownership should the minimum requirement be moved up to 10%.

At present time this is strictly a rumor but I will post the link with supplemental information on this topic.

Following a report in Saturday's Globe and Mail that banking officials have called for tighter mortgage rules to stave off a housing collapse, Finance Minister Jim Flaherty told reporters he does not see signs of a housing bubble in Canada.

According to the paper, Flaherty made the comments following the weekend's finance summit. Although he said there were some "signals in the market that are concerning," he added there is no "compelling evidence" of a housing bubble. He did, however, remind the Globe and Mail that he has policy tools available to "take action to counter negative trends."

"I have used some of them before and can use some or all of them again," Flaherty said, making reference to the government's decision to disallow zero-down mortgages and 40-year amortizations in 2008.

The discussion of tightening mortgage rules surfaced in December when Flaherty mentioned the possibility of increasing down payment and amortization periods to cool off the housing market. The Globe said the Department of Finance has canvassed the mortgage industry for ideas on whether tighter mortgage rules are needed.

CAAMP's Jim Murphy told the newspaper that it would have "serious concerns" with ten per cent down payments, while Canadian Mortgage Trends' Robert McLister said the CMHC has already "increased its vigilance" on mortgage insurance approvals.

79 Valley Crest Close NW

79 Valley Crest Close NW

View Virtual Tour of Home

Here is a beautiful home which is truly immaculate that backs onto a green belt. The green belt once completed will be 50 ft wide from fence to fence.  This home is one that you will fall in love with. The main level boasts an open floor plan, designer colors and a den that has a built in desk and bookshelf’s. The kitchen is a dream as you have upgraded appliances and full height upper cabinets. The bonus room upstairs is of good size and makes the perfect entertainment room. There are three bedrooms up with the laundry room upstairs as well. The master bedroom is a true retreat with a large walk in closet. This home is also complete with the basement being fully developed with a open rec room, a bedroom and a 4 piece bathroom. You are sure to enjoy the stars as it truly gets dark out here from your own hot tub. The yard is low maintenance with a large deck and dog run. Call Today. There is a new development happening behind this home. You can find out more about this below…

Valley Pointe Estates.ca is the new development that is happening behind this listed home.

Below is a map of the new community and how it will look.  If you have any questions about this development or the exact location of 79 Valley Crest Close NW, please contact Jared Chamberlain at 403.999.9694.

Click on map to see larger view…

Calgary Currie Barracks – Lots Up For Sale

Jared Chamberlain video blogs about how the prized Calgary Currie Barracks is going to be redeveloped over the coming 10 years to be a urban upscale community. This is all starting with lots going up for sale this week. If you want to give a comment or don’t care for Jared’s thoughts, you can email him at Jared@tcgroup.ca.

**UPDATE** There is more info on the Currie Barracks with this newer blog post. Check It Out!

Extra Homework!

Jared Chamberlain video blogs about doing extra homework or due diligence when looking into a new home, existing home, rental properties or any type of investment. If you do or don’t care for Jared’s comments please comment below or email him at Jared@tcgroup.ca

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