Agent Blogs

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Jan 12
2012

How Much Can I Afford to Pay for a Home?

Blog posted by Kevin Harris  ::  Views (14878)
To determine ‘affordability’ you will first need to know your taxable income along with the amount of any debt outstanding and the monthly payments. Assuming it is your principal residence you are purchasing, calculate 32% of your income for use toward a... [ more ]
Nov 29
2011

Fixed or Variable Which Way To Go

Blog posted by Kevin Harris  ::  Views (17605)
  How Do You Choose Which One is Better - Fixed or Variable? Posted on November 08, 2011 I thought we would do an overview of fixed versus variable rates, as this is a constant water cooler topic. As predicated, lenders have made significant changes to... [ more ]
Oct 31
2011

Barriston LLP Announcement

Blog posted by Joanne McPhail  ::  Views (20862)  ::  (1 comments)
Barriston LLP, Emerges As Simcoe County's Largest Full Service Law Firm Effective, October 1, 2011, Burgar Rowe Professional Corporation and Purser Dooley Cockburn Smith LLP, two of the most respected law firms in the region have merged and rebranded to become... [ more ]
Oct 31
2011

Condominiums & Status Certificates

Blog posted by Joanne McPhail  ::  Views (22210)  ::  (13 comments)
If you are considering purchasing a condominium, you will no doubt have heard about status certificates. These are documents which are provided by the condominium corporation you are buying into, which outline a number of things about the condo and the building.... [ more ]
Oct 11
2011

Wowza, problem sloevd like it never happened.

Expert Question posted by Peter Frueh  ::  Views (8975)
I love problems that solve themselves without any input.. [ more ]
Aug 23
2011

What is Land Transfer Tax and how much will it be?

Expert Question posted by Joanne McPhail  ::  Views (11803)
The land transfer tax you pay will depend upon the price of your home.   Here is a great link to do the calculation.  Just enter in the purchase price of your home and it will calculate your land transfer tax.  www.landtransfertaxcalculator.ca ... [ more ]
May 5
2011

Hi Kevin, I am seeing the mortgage information for the property at 30 Greenfield stating that there is no money down required for an income of over $92k with a 30 yr term. How accurate is this? Thanks! Stephanie

Expert Question posted by Kevin Harris  ::  Views (9881)
Hey Stephanie, This program is offered through several lenders and is available and can be used to purchase this property.The ratios needed to qualify work on the calculation of the carrying costs for this property based on the 92k/yr (income maybe... [ more ]
Apr 27
2011

How much do you charge and what would the land transfer fees be on a $320,000 house. I have a client moving in July so I will refer but he wants to know the charge. Will be selling in Barrie and buying in Springwater. Thanks Judy

Expert Question posted by Joanne McPhail  ::  Views (13508)
Hi Judy:  Thanks for your questions and for thinking of me!  Land transfer tax would be $3275.00.  Our fee on a purchase with a mortgage is $900 plus HST and the usual disbursements.  We usually tell clients to budget about $1600 plus the land... [ more ]
Apr 19
2011

Interest Rate Forcast

Blog posted by Kevin Harris  ::  Views (19956)
INTEREST RATE HIKE LIKELY   Chances are good we’ll see an interest rate hike from the Bank of Canada this summer, based on the latest inflation figures.  Higher food and fuel prices pushed the inflation rate to 3.3 per cent last... [ more ]
Apr 12
2011

Bank of Canada Holds Rates

Blog posted by Kevin Harris  ::  Views (31373)
BANK OF CANADA HOLDS INTEREST RATE AT 1%   The Bank of Canada has kept its trendsetting overnight interest rate at one per cent, but not because the economy is doing poorly. The bank says the economy is actually outperforming expectations, and now expects... [ more ]
Apr 7
2011

Cash Back May Be King

Blog posted by Kevin Harris  ::  Views (22077)
  Cash Back May Be King!!   As mortgage rules have changed and are now in place as of March 18th consumers will feel the effects of these new changes quickly. Drawing the amortization in to a maximum 30 year term from the 35 year term it had been... [ more ]
Mar 18
2011

As a young professional I am looking to buy my first home. With a gross annual income of $69,000 and total monthly debt obligations of $1000, what size of a mortgage should I realistically be looking at? Thank you very much for your time.

Expert Question posted by Kevin Harris  ::  Views (8633)
Thank you for your question.... with the recent changes to the mortgage industry in relation to the limiting of the Amortization period to 30 years I ran my calculations based on that and at today's low rates. With an income of 69K and the 1000/mo obligation... [ more ]
Mar 16
2011

housing markets and resale prices appear to be stabilizing,

Blog posted by Shaun Oflynn  ::  Views (7068)
Will Dunning is one of the most respected housing market analysts in Canada. Recently, he stated that while housing demand is well below its pre-recession peak and is still showing the after-effects of the recession, recent job creation will start to positively... [ more ]
Mar 1
2011

Bank of Canada looks at Prime Rate

Blog posted by Kevin Harris  ::  Views (36628)
  Release: BoC leaves overnight rate at 1.00% and preserves cautious tone   As expected, the Bank of Canada (BoC) left its target for the overnight interest rate unchanged at 1.00% for a fourth consecutive meeting since September 2010. In light of... [ more ]
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