Port Credit looking from the lake looking north

From an investment perspective those who had the bulk of their investments in the stock market had a very topsy turvey month in October. The debt crisis in Europe dominated the evening news (and still is) and stocks were loosing value more then gaining. However, real estate in Mississauga, Toronto, Etobicoke, Oakville and Brampton just kept on climbing both in numbers of sales and prices.

During the month of October total sales reported in the greater Toronto Area amount to 7, 642 an increase of 16.4% over the number of sales at the same time last year. The average selling price in October was up 8% to $478, 137.

With respect to the Mississauga real estate market total home sales were 916 with an average price of $429,033. The number of new listings on the market during the month was 1430 and active listings at the end of the month 1823. The average days a home was on the market was 24 days.

Although the inventory of homes has increased since the spring and summer the market remains a Seller’s market meaning the number of buyers looking for a home surpasses the number of homes available.

The Canadian Mortgage Housing Corporation recently released their quarterly housing market outlook which predicts that sales for the remainder of the year will remain at the same pacing with a continued edging towards a balanced market. Predictions in this report also indicate that the total number of sales and prices for 2012 will stabilize with modest increases.

(NC)—More than ever, first–time homebuyers are weighing their options before embarking on the Canadian dream of owning a home. “We want consumers to be comfortable with the financial responsibilities of owning a home, so it’s important to determine what they can afford in order to maintain a reasonable lifestyle once they’ve made the leap,” says Phil Soper, president of Royal LePage Canada. As such, Soper offers these guidelines for first–time homebuyers:

1. Determine your net worth. Take your assets (cash, investments, savings, vehicles and other items you own) and subtract your liabilities (car loans, lines of credit, overdrafts and credit cards). A positive number is a good sign that you may be ready to purchase your first home.

2. Obtain mortgage pre–approval. There are many different mortgage options available on the market today. Thoroughly investigate the terms and rates available, and once you have settled on a rate, term and amortization period, apply for mortgage pre–approval with your lender. Mortgage pre–approval presents you as a serious purchaser, to both real estate agents and sellers.

3. Hire a real estate agent. Top agents have extensive experience and demonstrate dedication and commitment to helping their clients. Ask your family and friends for a referral, or explore real estate sites such as www.royallepage.ca to read profiles on agents, including their areas of expertise and languages spoken. A real estate agent will have knowledge of accurate, real–time market data to leverage your negotiating position, as well as access to properties often even before they are listed on MLS.

4. Be realistic. Choose a home that is within your means. Keep in mind that you will need to set aside extra funds for ongoing home maintenance and potential increases in utilities, taxes and mortgage rates.

5. Rent out a portion of your home. Consider buying a home with the potential to provide added income. Renting a basement apartment or a spare room can put extra money in your pocket, helping you to pay down your mortgage faster.

Source: www.newscanada.com

More helpful home buying tips and advice available on the Mississauga Properties website.

Before making your decision you really have to do your research. If the market is good and homes are selling well on your street, then there is a good chance you can sell your home quickly, If the market is slow it might not be a great idea.

The average days that the house sits on the market are up by 15 per cent to 23 days from 20.
For those people contemplating whether to buy first, make sure that you can financially withstand holding two mortgages in case the market turns. The bank can conceivably rescind a mortgage approval if the first property is not sold before closing of the second property.

Whatever you do, try not to impulse buy. So if you don’t think you can afford it, stay way from those open house signs until the cash is in the bank or you have sold your home firm!

Add some instant curb appeal to your home this summer with Rust-Oleum's EPOXYSHIELD® driveway system. Easily repair, protect and beautify your driveway for years to come.

The home is the single largest investment most people will ever make, and many of us are looking for simple and inexpensive ways to protect and increase the value of that investment.

Whether you are replacing tiles in the bathroom, painting your walls or undertaking larger jobs such as replacing the roof or adding other desirable amenities, most people tend to focus their efforts on the inside of their homes. This year, why not think about your home’s curb appeal and increase the value of your home from the outside in?

Your driveway is the welcome mat to your home, and a cracked, faded and stained driveway doesn’t do much to make a good first impression when guests arrive. There are a number of products on the market you can use to repair, protect and beautify your driveway; however, not all products are created equally. Here are some points to consider when looking for a driveway sealant that is best suited for the average homeowner:

Ease of application

There is no need to waste your weekend pouring messy sealant from pails to trays or dragging a squeegee over your driveway, look for a product that you can easily roll-on and get back to enjoying your weekend.

Look for a product with a simple application. There is no need to waste time pouring product from cumbersome pails; look for products that you can simply and easily roll-on.

Curing time

Your time is important to you and you need a place to park your car, so look for a sealer that will dry in as short a time as possible. There are products available that will be drive-ready in 4 hours, so you can get back to enjoying your time off.

Clean up

Home renovations can be messy – look for a product that cleans up easily with soap and water so you can relax and move on to other activities.

Warranty

No one wants to do a job more than once; when looking for a driveway sealer look for a product that offers a minimum of a 5 year warranty. You take pride in the appearance of your home, so you should use a product that offers you a long lasting guarantee.

There are products available on the market, such as Rust-Oleum’s EPOXYSHIELD®, that offer home owners a simple do-it-yourself solution that will repair, protect and beautify your driveway for years to come. With simple roll-on application, soap and water cleanup and a 4 hour drying time, enhancing your home’s curb appeal and increasing your home’s value has never been easier.

Source: www.newscanada.com

At first, the odors may not be noticeable. However, given enough time and lack of cleaning, the unpleasant odors may become stronger as the bacteria and mold continue to grow. Cleaning the garbage disposal at least once a week with one of the following methods will help to keep it free of nasty bacteria and unsightly mold. Here are some options:

1: Pour one half cup of baking soda down the kitchen drain. Carefully pour one cup of white vinegar down the drain on top of the baking soda. Place the drain stopper in the sink to close off the drain. If you have a double sink, you should do this for both of them. The mixture will fizz and make a bit of noise or fizzing sounds. Allow this to work its magic for a few minutes while you boil some hot water. Use a full teakettle or medium size pot of water. Once this has boiled, pour it down the drain.

2: Using a clean container, mix a gallon of water with one tablespoon of liquid chlorine bleach. Carefully and slowly, pour the solution down the drain and allow it to sit for several minutes. Flush the drain thoroughly with cold water for several minutes.

3. “Afresh Dishwasher Cleaner” this is a great product to use once a month and really works . The product is a licensed under Whirlpool Canda LP. Made in the U.S.A.

Freshening the Garbage Disposal

Maintaining a clean garbage disposal using one of the above methods will help to keep it smelling fresh and odor free. Additionally, you can encourage this by grinding ice cubes in the garbage disposal to clean the cutting blades. Simply place several cubes in the drain and grind.

If you want to add a little bit of scent to the area, you can add rinds from any of the citrus fruits in the drain with the ice cubes. The citrus fruits include oranges, lemons, limes, and grapefruits.

1. The most common start is a garage sale.  So start there!  Set a date  that is out by a month and then you will have a starting point.  This is a good time to get rid of that first 10% of stuff that you don’t need. 

2. The purpose of your garage sale is to get rid of clutter.  So start small.  Put aside 15 minutes each day (use a timer if you need to) and start your decluttering now, closet by closet, room by room.  Be ruthless!

3.  Now make  a goal  that you will pack one box every day for two weeks of items you must keep and take with you. You can start by packing 10 to 20 of the most necessary items in that room or closet.  Then tape up the container so it will not be easy to rummage thru it.

3. One of the more difficult things will be to get rid of unwanted or un used gifts from friends and family.  Don’t feel guilty.  Just do it.  They will take up valuable space in your new home.

4. You will also find that younger family members are not interested in your treasured ornaments or china.  So display them on several tables and invite in an antique dealer and get a bulk price for everything.  You will not get close to what they are worth but it is necessary to do.  The secret is to forget about it. You must be determined to live in the present and not the past.

5. Look at all your top shelves.  If it is on your top shelve you have rarely used the items or not at all.  So get rid of everything on your top shelves

6. There are also companies that are more like brokers who will buy less valuables in bulk and they will catagorize them and sell them to flea markets, 2nd hand stores or specialty stores.  There are also numerous charities that will come in and pick up items. I am sure you would feel better knowing your stuff will be used and appreciated rather than have it end up in a landfill.

7. Finally, if you still feel overwhelmed and cannot do this on your own, there are companies that specialize in downsizing and counselling to help you.  They will know when to give you  that gentle push and to help you get organized.  They can also help you put together memory books of cherished items.  It is not always having an item but the story and memories behind them that are important.  If you would like some names please feel free to send me an email.

Essentially, these changes will reduce the overall amount for which borrowers can qualify, as well as restrict the refinancing flexibility of current homeowners with less than 15% equity in their homes. The exact changes are as follows:

The first change reduced the maximum allowable amortization period for insured high-ratio mortgages from 35 years to 30 years, effective March 18, 2011. (Put another way, this means that the longest you can take to pay back your high-ratio mortgage loan is now 30 years.) In real numbers, the change from 35 years to 30 years means an additional payment of about $100/month on a $300,000 mortgage at a 4% interest rate.

The second change reduced the maximum loan-to-value allowed on high-ratio refinance transactions from 90% to 85%, also effective on March 18, 2011. (In simple terms, this means that if you want to refinance your current mortgage, the most you can borrow is 85% of the current value of your property). Here, the government is trying to pre-empt a refinancing binge where low interest rates cause people to use their homes as ATM machines, which was commonplace in the U.S. during their housing bubble. The more equity a home owner has in their property, the bigger their buffer if house prices fall (and by extension, the safer the lender’s loan and the tax-payer’s money that guarantees it through CMHC

So what does this mean exactly? For a potential home buyer, if you have an annual household income of $60,000 you can currently qualify for a $312,000 purchase, using the 35 year amortization and 5% down payment. Under the new rules, because of the reduced amortization to 30 years, you will only be able to purchase a $289,000 property (a drop of $23,000 in purchasing power).

To afford that $312,000 property your annual household income will have to be $64,000 or higher.

For those who already own their home, these changes are going to impact your refinancing flexibility, reducing your ability to borrow equity back out of your home to consolidate other debts at a lower interest rate or use that equity for investing.

Start at the front door. When the weather is permitting (45 degrees) paint your front door a fresh new colour. Splurge and buy a couple of new ceramic pots and fill them with lots of spring flowers and moss.

Bright new colours and streamlined decor should be utmost on your mind for the inside. Maybe an accent wall that you have wanted to try. Or perhaps you would like to replace a colour in a bathroom with a beautiful white and give it a spa look with all white accessories. Or, you can add some colour with a new set of towels or sheets.

Try rotating your artwork. Everyone has too much art. Keep some of your favourite pieces and switch them out. You might also think about some rearranging to give your walls an art gallery look.

Try rearranging and regrouping your furniture. Don’t be afraid to eliminate something that you no longer love and open a space for something new and wonderful.

Refresh! Paint all of your window sills and baseboards with a fresh coat of paint. You will be amazed at a difference it willl make for just a few dollars.

A few words of caution though, if you remove any money you have invested in the TSFA account, you can not put it back until the next calendar year without a penalty.

Secondly if you transfer money from one TFSA account to another financial institution within the same calandar year it is considered an additional contribution or an over contribution and you will be penalized.

So TFSAs are a fanatastic financial tool that provide a great amount of tax relief in later years, but they are not a good idea if you are planning to use it as an emergency fund or an everday account.

TSFA’s are a great investment vehicle but make sure you know the rules!

Also consider the colors of snow and ice for a modern winter room. White, silver and turquoise create a sleek winter design. Accent the room with mirrors, tree branches and crystals for an enchanted forest theme