Archives for Real Estate Information

New Mortgage Rules Effective January 1, 2018

December 19, 2017 Team Weir would like to draw the attention of 2018 buyers and sellers to new mortgage rules taking effect on January 1, 2018. “New mortgage rules coming into effect on Jan. 1 won’t trigger home price decreases, according to Royal LePage’s 2018 outlook for the Canadian housing market. The real estate powerhouse sees home prices climbing 4.9 per cent by the end of next year, up to $661,919. The estimate is based on a composite price index that measures home prices in 53 Canadian cities. The impact of the regulations won’t be exactly nil. “The new measure will
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Canadian Armed Forces Relocation Program Changes Effective Now

December 1, 2017 For our Military clients and those on a 2018 HHT, Team Weir would like to draw your attention to changes to the Canadian Armed Forces Relocation Program effective December 1, 2017. Canadian Armed Forces Relocation Program Changes “As previously communicated in the Know Your Benefits page, as of December 1, 2017, Canadian Armed Forces (CAF) members will see changes in how relocation services are delivered. Relocation benefits will remain the same. However, face-to-face services with an advisor will be replaced with 24 hr online access to your personal file through a computer or an App.  This will include everything
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Potters Creek: Next Phase NOW OPEN!

November 17, 2017 Team Weir Opens Next Phase of Potters Creek! Team Weir is proud to announce that we have opened the next phase of the very sought after subdivision, Potters Creek and we have already had two sales! Potters Creek is located in the west end of Belleville and conveniently situated near schools, parks, CFB Trenton, and the 401. McDonald Homes is offering a variety of single-family and semi-detached plans, one of which is sure to meet your needs. As the owner and principal builder, Dave McDonald personally guarantees that McDonald Homes will work with you, the purchaser, to
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Home Energy Audits

Home Energy Audits When you mention an ‘audit’ to Canadian taxpayers, there’s a good chance the associated thought will be a negative one. However, the federal and provincial governments are now trying to put a positive spin on another type of audit; that is, a Home Energy Audit. A Home Energy Audit shows how your home uses energy and where it is being wasted. It identifies improvements you can make to your home’s heating, cooling, and hot water heating systems. It also pinpoints other inefficiencies that COULD result in hundreds of lost dollars each year. Given that everyone wants to
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Buying A Home With A Rented Hot Water Tank?

In 2002 Direct Energy signed a consent order with the Federal Competition Bureau that protects customers from long-term contracts and exit fees related to hot water tank rentals. The consent order expires in 2012 but Direct Energy asked for relief based on the intense competition from door-to-door rivals using the same tactics. The Competition Bureau agreed to long-term contracts and exit fees with water heaters installed after 16 September 2010, or in new homes built after January 1st, 2011. Direct Energy refers to a ‘buy-out schedule located on our website’. When offering to purchase a home with a rented water
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Smoking at Home Reduces Property Values!

We have been telling Buyers and Sellers for years that smoking inside the home impacts value. Following is but one survey that confirms just how negative smoking can be with regards to the market value of a home. Thanks to Mark Weisleder for his article.
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Canadian Home Prices Are Growing At One Of The Fastest Paces In The World

The Canadian real estate market continues to boom, according to this Financial Post offering.  With a year-over-year increase of 8.2%, Canada ranked 4th of the 23 countries studied in Scotiabank’s report Global Real Estate Trends, behind Ireland (13.3%), Sweden (10.5%) and Australia (8.3%).  However, the report warns the trend could change if economic uncertainty and high unemployment counterbalance the attraction of low borrowing costs.  To read more click here. The post Canadian Home Prices Are Growing At One Of The Fastest Paces In The World appeared first on Team Realty. Source: Blog
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The Number of Real Estate Appraisers Is Falling. Here’s Why You Should Care

According to this realtor.com post, the number of real estate appraisers is dropping to the point where parties on both sides of real estate transactions could suffer. Since most residential mortgages need an appraisal before a sale closes, a shortage of appraisers will affect buyers, who rely on accurate valuations to structure their offer, and sellers, who can lose a deal if appraisals come in low.   The Appraisal Institute notes the number of appraisers has dropped 20% since 2007 and predicts a 3% annual decline for the next decade. Fewer appraisers means longer waits, which could delay a closing. That delay
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