Blog : Tina Mak - Coldwell Banker Westburn Realty

Fixed rates may be on the move UP...

May 28th, 2009

It's time to keep an eye on fixed rates, as the bond yields and spreads on 5 year fixed are pointing to a potential rise in rates.May 25th Market News:U.S. confidence data drives sharp loonie rally -TSX rallies as BMO tops estimates-Oil hits six-month high on consumer confidence§ TSX+216.40 to 10,285.90 climbed to their highest closing level since October on a big jump in U.S. consumer confid ...

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Public sees light at the end of the tunnel!

May 11th, 2009

Recently,all the newspapers and media headlines are way more postive with "Things are getting better", "Canada's economy might have bottomed out already. If not, it will likely do so within months", etc. It's harder and harder to resist being optimistic about the economy. The gain of more than 35,000 jobs in Canada last month was contrary to all forecasts. Remember economists back in December ...

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Obama eyes Canada as bank model

May 8th, 2009

Toronto Star David Olive BUSINESS COLUMNIST Barack Obama, contemplating sweeping reforms to the U.S. financial system, cited Canada as a model worth emulating in an interview published yesterday. "You know, I've looked at the evidence so far that indicates that other countries that have not seen some of the problems in their financial markets that we have nevertheless don't separate between ...

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US New Housing Appraisal Rules Starting on May 1st, 2009

April 27th, 2009

In the last several years, some significant changes in both the real estate and home loan sides of the housing industry have had an impact on real estate transactions. The issue I would like to bring to your attention today could go further and affect the way you do business. The Home Valuation Code of Conduct (HVCC), which becomes effective May 1, 2009, governs the way in which appraisals ...

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Financing difficulties for Pre-Sale condo in today's market

April 19th, 2009

The developer's price of 2 yrs ago - against today's financing. There are several hundred examples of the pre approved purchaser now being unable to qualify, or needing to come up with a substantially larger downpayment, because the bank will only lend on 80% of the current appraised market value. One of many difficulties pre approved buyer's are facing, is the current price of the pre sell c ...

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Mortgage rates unlikely to fall further: Brookfield

April 17th, 2009

Sean B. Pasternak, Bloomberg Financial Post Mortgage rates in Canada, which have plunged by almost 50% in the last year, aren't likely to fall further, said Phil Soper, chief executive of Brookfield Real Estate Services Fund."Certainly with the Bank of Canada's target rate set at virtually zero, there's very little room," Mr. Soper said Tuesday at a conference in Toronto on Canada's real est ...

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Tips when purchasing pre-sale condo in today's market

April 5th, 2009

Due to the market condition, many developers are offering great incentives now. Pls make sure you do the following: 1)understand the disclosure statement that is provided by the developer. If you do not understand any part of it, spend some money to get legal advice. 2) Add a clause to say "If buyer don't complete the purchase, this deposit is forfeited as liquidated damages as the sole r ...

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Surprise jump in U.S. home sales

March 25th, 2009

Surprise jump in U.S. home salesALAN ZIBEL The Associated PressMarch 23, 2009 at 10:44 AM EDTWASHINGTON — Sales of existing homes rose from January to February in an unexpected boost for the slumping U.S housing market as buyers took advantage of deep discounts on foreclosures.The National Association of Realtors said Monday that sales of existing homes grew 5.1 per cent to an annual rate of ...

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January 28th, 2009

Federal Budget incl.Tax credit for home reno

Great news for home owners.

http://www.canada.com/vancouversun/news/westcoastnews/story.html?id=08f4db25-cfcb-45fc-b8c4-12094d2ce71a

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Return on Investment via real estate

January 17th, 2009

Make A 5-7% Return On Investment (ROI)January 2009 Why would you buy a revenue property now when you feel the market is not going anywhere fast? Well, how about starting an investment now where you get a 5-7% return per year? When I started in the business, history has told me that when the market peaks then experiences a recession, it takes an average of 7.5 years before the peak property pr ...

Coldwell Banker - Westburn Realty

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Blog by Tina Mak

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Fixed rates may be on the move UP...

Public sees light at the end of the tunnel!

Obama eyes Canada as bank model

US New Housing Appraisal Rules Starting on May 1st, 2009

Financing difficulties for Pre-Sale condo in today's market

Mortgage rates unlikely to fall further: Brookfield

Tips when purchasing pre-sale condo in today's market

Surprise jump in U.S. home sales

Return on Investment via real estate

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