Penalties When Breaking A Closed Mortgage

Why banks want you in fixed rate mortgages

This article in Moneyville in the Toronto Star, is a great piece about the mortgage penalties associated with breaking your closed mortgage, an issue that is very prevalent today. Most clients don’t anticipate the high amounts that they have to pay out in penalties when they decide to refinance or sell their homes, as these numbers are not standardized across the different lenders, nor are these figures disclosed at the time of signing.

Banks have always encouraged clients to go into five year fixed rate mortgage terms, yet the average time a Canadian will stay in a fixed mortgage term is 3.4 years. Now we know why the banks profit billions a year even during recessions and “credit crunches”.

As a homeowner or home buyer, keep the following tips in mind when shopping around for a mortgage or if you are considering refinancing your property:

- Beware of closed or fixed-rate mortgages that will penalize you for leaving early. (Kristian Harris of Monster Mortgage advises a variable-rate or open mortgage).

- If you are adamant about taking a fixed mortgage, consider a 3 year term instead of the bank-promoted 5 year term. The future is uncertain and tying yourself up in such a long commitment can result in big penalties when you decide to break your mortgage.

- Know your numbers! Find out if the rate that you’re being offered is a discounted rate and make sure you are aware of how the Interest Rate Differential (IRD) is calculated.

- Take advantage of your pre-payment options and apply these to your mortgage before it gets discharged.

There are so many questions when applying for a mortgage. Talk to a mortgage agent to find the best mortgage strategies that will reduce the IRD penalty that you will have to pay and get you the right product that will help you pay your mortgage off faster. Your mortgage specialist will take you through the payments and how best to pay off your mortgage in the most efficient manner.

Because you have choices, you need to make sure to get as much information as possible so that you can make an informed decision as to the mortgage that is right for you. Talk to a mortgage specialist. Need a name? Call me directly at 416 427 1875 and I will direct you to a few numbers and you get to choose who will provide you with the best service. Remember, the choice is yours!

Betty Bartusevicius, Sales Representative
RE/MAX Realty Specialists Inc., Brokerage
905 828 3434
Cell: 416-427-1875
Email: betty@bettybart.com
Web Site: http://www.bettybart.com
Fine Homes in Nine Oh Five

LET ME GIVE YOU A HAND
EXPERIENCE IS NOT EXPENSIVE! IT’S PRICELESS!

PERSISTANT IN GETTING THINGS DONE!!! ALL REFERRALS ARE GREATLY APPRECIATED

not intended to solicit buyers or sellers under brokerage contract

Avoid Uncontrolable Debt

This article should be useful to many of us. Thank you to Kristian Harris of Monster Mortgage for this information.

How many credit card offers do you think you received in the mail this past month? Each one is a new opportunity to get farther into debt, hand over HUGE interest payments, and never get any closer to financial security. Just take a look at this article by Rob Carrick in the Globe and Mail.

Here are six facts that can help you avoid uncontrollable debt!

FACT ONE: Debt is out of control!

The next time you’re flattered by a PRE-APPROVED card you receive in the mail, stop and think who’s benefiting when you use it. Do you really need another way to spend money you haven’t yet earned? NO!!! The next time you’re offered a new credit card, just say NO. And say YES to directing more of that money you would have paid paying double digit interest towards paying down your mortgage!!

FACT TWO: Fine print is small because they don’t want you to read it.

It’s called “fine” print because it makes credit card companies feel “fine”, and it’s like paying a “fine” for not reading the details. If an offer sounds too good to be true, get out your magnifying glass and you’ll usually find the painful truth in the fine print.

FACT THREE: The loan with the term that stretches into infinity.

Credit cards are open-ended or revolving loans with obscene interest rates. And what’s worse, they encourage you to make minimum payments that are so low, they barely cover the interest charges.

FACT FOUR: It’s called “minimum” payment for a reason.

Minimum payments are deliberately set so low, they’re virtually the same as “interest only” payments. Making smaller payments isn’t going to get you out of debt faster. What you need is a financial strategy that will free up enough cash to make bigger payments so you can get out of debt once and for all.

FACT FIVE: A fee for every occasion.

When you’re shopping for a credit card, maybe you’re just considering the interest rate and annual fee. But if you check the “summary box” on your contract, you may find a list of EXTRA FEES that can make your low-rate, no-annual-fee card much more expensive.

FACT SIX: Surprise! We just increased your interest rate!

Credit card companies now have to give advance disclosure of interest rate increases, even if this information is already in the credit contract—so it’s important to pay attention to the notices they send you. Some cards will automatically raise your interest rate if you’re late with a payment or have too much outstanding debt on ANY of your credit cards or loans.

Posted by Roy Cocciollo of Monster Mortgage Take steps to free yourself from debt addiction today and to become mortgage free faster!

The first step is to talk to a professional, like your mortgage agent to review your personal financial situation and review your credit with an annual credit check-up. Yearly reviews like these are beneficial in assessing your beacon score (used to determine your credit rating/score) and aid you in maintaining or improving your credit, especially when it comes time to purchase a home and to qualify for the best mortgage rates and offers out there.

There are also other options available to you, such as refinancing your home to consolidate your high-interest debts by accessing the equity from your home and adding that debt to your mortgage, all while paying a much lower interest rate. With refinancing, you can pay less bills monthly and avoid 18% credit card interest rates.

Now, if you would like to discuss any of the above article, let me set it up for you. There are so many options to protect your financial future and also to help you buy a home.

Betty Bartusevicius, Sales Representative
Re/Max Realty Specialists Inc., Brokerage
Fine Homes In Nine Oh Five
Office: 905-828-3434
Direct: 416-427-1875
Email: betty@bettybart.comWeb Site: http://www.bettybart.com

LET ME GIVE YOU A HELPING HAND
EXPERIENCE IS NOT EXPENSIVE; IT'S PRICELESS!

this is not intended to solicit buyers or sellers under brokerage contract

Mortgages: Bank vs Mortgage Broker

When meeting with a client for the first time, I try to gather as much information about the buyers as I can while keeping the buyers as comfortable as possible. We have to discuss finances. Not a comfortable subject when you don't know eachother. It is very important to get your finances in order as you start your journey into home purchase. The more information that you can gather, the easier your journey will become. One of the mortgage broker's that I have recommended in the past has provided some information that might be useful to you. Read on and make your own conclusions.

What your bank does not want you to know

A lot of clients come to us with a familiar situation: Two, three or four years ago they were tempted by what seemed like reasonable rates to lock into a 5 year mortgage. Now, needing to break their mortgage - to pay out some debts, renovate, and so on - they are presented with a penalty that seems to bear no relation to reality, a penalty sometimes running $5,000, $10,000 or more. The primary reason for these high penalties is the use of “posted rates” by the banks. It sounds great to get a large discount from these bank posted rates until you realize that when you break your mortgage, they will come into play again, this time in reverse. Banks will calculate your mortgage penalty as if they had given you the higher, posted rate, and that high rate makes for the excessive penalty you pay.

To deal with this penalty, banks typically present clients with a few options: clients can break the mortgage and pay the penalty and start again with a new term at today’s rates, or they can accept a ‘blended’ rate which extends their mortgage back out to 5 years at a rate that combines their current mortgage with the going market rate for a 5 year term. No penalty needs to be paid up front because the fee is buried in the new ‘blended’ rate.

So clients are tempted with the same offer: rates that seem reasonable, and the possibility of locking those low rates in for another 5 years. The conversation your bank doesn’t want to have with you is the one that outlines what your new penalty will look like down the road if you need to break your mortgage again. Which, statistically, you will probably want to do. Remember, before signing on the dotted line...GET THE FACTS YOUR BANK WON’T TELL YOU.

What you should know

So what is the right thing to do in this situation? The short and easy answer is that if the cost of breaking your mortgage, (including any associated costs like discharge fees and legal fees) is less than what you will save over the remaining length of your current term, then it is advisable to break your mortgage and reap the benefits. Even with high penalties that sound extravagant, we have helped clients save thousands of dollars breaking their mortgages.

Beware of the temptation to lock back into a 5 year mortgage with your current lender. After all, if you are considering breaking your mortgage before your term is up, you are just doing what the banks know their customers will do: most Canadians will not see their mortgage through to the end of their 5 year terms. So why, knowing this, would the banks recommend that their clients lock in to 5 year fixed rate mortgages? Because the bank will get its money whether you pay them faithfully for 5 years, or whether you pay them a penalty after 3.

We do things differently. MonsterMortgage.ca will assess your personal situation to uncover the most suitable lender and product so that you get the mortgage rate, terms and conditions that are right for you...and NOT YOUR BANK!! And because many of the over twenty lenders that we recommend our clients use do not use posted rates, if locking in at today’s historically low rates is the right strategy for you then you can avoid a harsh penalty should you need to break your mortgage down the road. By opting for variable mortgages, or a shorter fixed term mortgage, many of our clients avoid these large penalties altogether.

So the question is, why do many people lock back in to a term they probably won’t complete? Habit I guess, and a history of the banks selling you advice that contributes to their bottom line and not yours. We are all creatures of habit. Call me today and break your bank habit. We will review your mortgage and present you with a strategy that helps you pay down your mortgage faster.

Compliments of:
Betty Bartusevicius, Sales Representative
Re/Max Realty Specialists Inc., Brokerage
OFFICE: 905 828 3434
DIRECT: 416 427 1875
EMAIL; betty@bettybart.com
WEB SITE: www.bettybart.com

not intended to solicit buyers or sellers under brokerage contract

Interest Rates Update, Mississauga

Thank you Kristian Harris of Monster Mortgage for the following article. Great up-to-date information that keeps us on our toes. I got this just as the news came out regarding the rise in interest rates. It's not much and as you will see in the article. It still keeps the rate by the Bank of Canada low and affordable my many.

Enjoy the article. If you have any questions after you have read it, feel free to contact me at 416 427 1875 or Kristian at 416 818-1645.

Interest Rates Go Up

...even with .25% increase the variable is still attractive at 2.35%...
Carney hikes rates, cites uncertainty.

Bank of Canada governor leaves room to pause at next meeting following three straight increases in benchmark

Jeremy Torobin

Ottawa — Globe and Mail Update Published on Wednesday, Sep. 08, 2010 9:03AM EDT Last updated on Wednesday, Sep. 08, 2010 9:24AM EDT

Bank of Canada Governor Mark Carney raised his benchmark interest rate for the third straight time Wednesday, but left himself room to pause at his next scheduled decision by saying that while borrowing conditions in Canada remain “exceptionally stimulative,” the overall economic climate is fraught with “unusual uncertainty.”
In the statements on his decision to lift the overnight rate by another quarter of a percentage point to 1 per cent, Mr. Carney reiterated - arguably more strongly than in the past - that future moves will depend on developments around the world and, in turn, how they are affecting Canada’s export-heavy economy.

“Any further reduction in monetary stimulus would need to be carefully considered in light of the unusual uncertainty surrounding the outlook,” the central bank said, tweaking language in the all-important last line of the statement that accompanied its previous two rate hikes, which referred to “considerable” uncertainty.

Unlike the previous two statements, on June 1 and July 20, Wednesday’s decision included no mention of debt problems or belt-tightening in Europe. However, Mr. Carney left little doubt that the sputtering U.S. recovery is now the No. 1 risk to the global and Canadian recoveries, saying in the second paragraph of his statement that the rebound in private demand south of the border is being crimped by stubbornly high joblessness and that ``recent indicators suggest a more a more muted recovery in the near term.’’

As a result, the central bank said, the global bounce-back from the worst downturn since the Depression is ``proceeding but remains uneven, balancing strong activity in emerging market economies’’ (such as China and India, though the central bank didn’t name them) against ``weak growth in some advanced economies.’’ At the same time, the central bank appeared to downplay the effect that the global turmoil is having on Canada, calling the country’s 2-per-cent annual growth rate in the second quarter ``slightly softer’’ than what policy makers had expected, even though their latest forecast in July was for a 3-per-cent pace.

The Canadian recovery will be ``slightly more gradual’’ than the central bank expected in July, but consumer spending and investment have ``evolved largely as anticipated,’’ it said, reflecting the fact Mr. Carney’s forecasts have warned of a slowdown for several months because of factors such as the fading impact of government stimulus and the cooler real-estate market.

In the future, consumption growth will ``remain solid’’ and business investment -- which has a surprisingly strong pickup in the second quarter, Statistics Canada data last week showed -- will ``rise strongly,’’ the central bank said. For now, as the U.S. recovery proceeds in fits and starts, investor demand for safer investments such as bonds is pushing borrowing costs down and helping consumers and companies, the bank noted.

``Financial conditions in Canada have tightened modestly but remain exceptionally stimulative,’’ the central bank said.

In its July 22 forecast, Mr. Carney said inflation will stay near the central bank’s 2-per-cent target throughout the projection period, and the economy will return to full capacity at the end of 2011. On Wednesday, Mr. Carney said inflation -- which has been tame in recent months -- has been in line with his expectations and the dynamics surrounding prices in Canada ``are essentially unchanged.’’ All of that suggests Mr. Carney and his deputies are still rather uncomfortable with an overnight lending rate so far away from what most economists consider ``neutral,’’ or about 3.5 per cent to 4 per cent.

Still, the continuing emphasis on risks from abroad and on the uncertain nature of the global recovery indicate policy makers are trying to signal to remind investors that the central bank reserves the right to pause at its next decision, on Oct. 19, to spend more time assessing how the situation in Canada and abroad is unfolding. Mr. Carney would explain such a move in a new forecast the following day.

Central bankers in Japan and Australia this week indicated that fears about the durability of the U.S. rebound are weighing heavily even on the minds of policy makers whose countries aren’t quite as dependent on the world’s biggest economy. The Reserve Bank of Australia kept a pause in place on Tuesday, despite having the biggest spike in economic growth in the country since 2007, and the Bank of Japan highlighted ``uncertainty’’ about the U.S. in saying that it is prepared to add more stimulus if needed.

As you can see by this article, there still may be another rise in interest rates again. Rumors abound that it will be in December. So, if you are ready to invest in a home, maybe it's time to sit down and see if it's a possibility. I'm here to help.

Betty Bartusevicius, Sales Representative
Re/Max Realty Specialists Inc., Brokerage
Fine Homes In Nine Oh Five
Office: 905-828-3434
Direct: 416-427-1875
Email: betty@bettybart.com
Web Site: http://www.bettybart.com

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PSST: IF YOU KNOW SOMEONE WHO IS THINKING OF BUYING OR SELLING A HOME AND NEEDS MY HELP...FEEL FREE TO PASS ALONG MY NAME AND NUMBER TO THEM! ALL REFERRALS ARE GREATLY APPRECIATED

The Mortgage Decision

John Scholl of Investors Group Financial Services Inc. & Investors Group Insurances Services Inc. provided me with the article below. He defines the different mortgages quite clearly. He can talk to you further about your mortgage and your finances to make your decision easier and so that you can sleep at night. Read the article and if you have any further questions call John. You can also call me directly at 416 427 1875.

Fixed or Variable Rate Mortgage?
“It made me nervous – very nervous.” Financial advisors hear that comment all the time from both first-time home buyers and more seasoned purchasers who may be upgrading or downsizing to a second or even a third home. What makes those folks nervous is finally getting down to signing the mortgage documents that can mean decades of payments for the largest investment most Canadians will ever make. What can add to that nervousness is uncertainty: “Did I choose the right mortgage option?” If you’ll soon be signing on that dreaded dotted line, here is some basic information that can make your mortgage decisions easier and a better fit for you.

Your mortgage options:
Fixed rate mortgages guarantee a set monthly payment amount at a locked-in interest rate for the term you choose, typically one to five years. At the end of that period, you sign for another ‘term’ at the prevailing mortgage rates, which can be higher or lower.
Variable rate mortgages may have a lower initial interest rate than fixed rate mortgages but the interest rate is linked to the Prime Rate and fluctuates with it, which means the rate you pay over the term you select could increase or decrease, affecting your total interest costs and potentially, the amount of your mortgage payment. Some variable rate mortgages are available where the payment amount is fixed for the term, but they are typically subject to certain conditions.
Multi-level or split rate mortgages offer both a fixed and variable component – a rate structure that combines the benefits and risks of fixed rate and variable mortgages – and are growing in popularity.

Your best bet:

Studies have shown that, while a fixed rate mortgage is still the most popular choice, choosing a variable rate mortgage over a fixed rate mortgage can save on interest payments over the long term. But financial experts agree that, when you’re mortgage shopping, it’s a mistake to look solely at interest rates. Your financial and life circumstances can change – in fact, most mortgage holders look to make changes to their mortgage at least once or twice during their term – so you should also consider the ‘features’ of a mortgage, such as the flexibility to make changes to it without incurring significant costs. In particular you should ask the lender if a penalty will apply if you sell your house and purchase a new home with a new mortgage from the same lender.

The keys to the best bet for you are these:

Make your mortgage decision based on your personal financial objectives, your overall plan for your family’s financial future, and the ‘insomnia factor’ (Will your choice allow you to sleep soundly at night?). Your best course of action is to work through all the options with your professional advisor before you sign on the dotted line.

As previously discussed, if you are relatively healthy, never sign up for “Mortgage Insurance” with your lender until you have discussed life insurance with your financial advisor. If you need further encouragement to do so, may I suggest you search for “CBC Marketplace in Denial” on the internet and do a little research about what really happens. The worst aspect of it is the underwriting at the time of claim instead of at the time of the insurance application.

John Scholl CLU,CGA, B. Mathematics, Consultant - Investors Group Financial Services Inc.
& Investors Group Insurances Services Inc.
200 - 24 Queen Street East,
Brampton, Ontario L6V 1A3
Wealth Management & Financial Planning
Phone: (905) 450-2891 X529 Toll Free: 1 (866) 799-2223 x529 Cell (416) 731-3660 Fax: (905) 450-9747

I strive to continually improve my wealth management practice to be worthy of the referrals received. I build my business one introduction at a time, and would consider it a great compliment to be introduced to one of your business associates, friends or family.

The above information is shared by:
Betty Bartusevicius, Sales Representative
RE/MAX Realty Specialists Inc., Brokerage
416 427 1875
Fine Homes In Nine Oh Five

Market Watch Mississauga Real Estate

Now that we have put away our shorts and tee shirts, pulled out our sweaters (and some mornings mittens), we can all settle into the routines that we put aside during the summer months.

Most people were anticipating the inventory numbers to start increasing over September as potential sellers get back from summer vacation and decide to list. It hasn’t happened, yet. With listings down 42%, buyers are competing for less product, which leads to "bidding wars".

Homes that are priced well are not lasting on the FOR SALE list. Especially in Lorne Park and Mississauga Homes for sale. If you don't jump quickly, you lose because there are more and more multiple offer situations. Buyers are starved for product.

Much of the activity has to do with low interest rates. Consumer confidence is up. That's all you need in a recovering economy.

For a complete report, visit Market Watch on my web site, sign up and one will be sent to you automatically. Want to talk about it? Contact Betty at 416 427 1875 or through email at betty@bettybart.com.

My web site is a sought after resource for the weekly postings of available Lorne Park properties. By accessing Betty's Pic of the Week and signing up for the instantly downloadable report, you can receive up to date information of some of the homes that are available in this elegant community.

If you know someone who is thinking of selling or buying a home now or in the future, feel free to pass along my name and number as all referrals are greatly appreciated.
Betty Bartusevicius, Sales Representative
Re/Max Realty Specialists Inc., Brokerage
OFFICE: 905.828.3434
CELL: 416.427.1875
EMAIL: betty@bettybart.com
WEB SITE: www.bettybart.com

Elegant Homes in Lorne Park and Churchill Meadows, Market Watch, Call Betty at 416 427 1875

JUNE HOME SALES SOAR 27%

This was a great headline on the news and for anyone looking to either purchase or sell a home. The nay-sayers are saying that this won't last. These are the same guys that have said that the housing market is going to self-destruct just the way it did in the good old U.S. of A.

Multiple offers are back with a vengance. Frustrated buyers who haven't been taught the process of purchasing a home. Also, buyers who have not been advised to get their finances in order and discuss pre-approval for a mortgage cannot understand why they are losing the battle of home purchase. Interest rates remain low. Prices have risen, very little, but they have started a small climb.

In the middle of a "recession", we have gone from a Buyer's Market to a Seller's Market. Don't forget, we are now entering the "Summer Market" which is also a slower market. Sellers and buyers alike are more interested in the holiday season and enjoying the sunshine. Getting away and taking some time to ourselves is important to recharge our batteries.

CMHC are surprised at the rebound, but are not expecting it to last. As I have said before, we have to have to get our consumer confidence back. Once the job numbers start picking up, our confidence will start to return.

Prices have started to rise because of low interest rates and also there are fewer active listings from last year (fewer properties to choose from).

“The average resale home price has moved in line with last year’s level because of tighter market conditions experienced this Spring,” stated Jason Mercer, TREB’s Senior Manager of Market Analysis. “Home sales have increased strongly relative to new listings, bolstering home prices.”

Contact Betty Bartusevicius 905 828 3434 or directly at 416 427 1875
Re/Max Realty Specialists Inc., Brokerage

Contact me by email
I can help you save time and money by shopping smarter

I am in this business for the long term. Being a full-time agent, I am committed to providing you with excellent service and I continue to share my real estate knowledge and thoughts with you. I want to be known as your "Real Esate Advisor". Whether you want some reliable information about the Real Estate Market, or if you are just curious about how your home might stack up against neighbourhood listings, remember, I'm just a call away.

Are you an Owner? If you own property in the Mississauga, Oakville, or Burlington Communities, and you would like to sell your residence, contact Betty Bartusevicius at 905 828 3434 or directly at 416 427 1875 and get a free market analysis.

Are you a Buyer and are interested in purchasing a home in the 905 area code? Contact Betty to receive SOLDS/FOR SALE Homes of neighbourhoods to enable you to make an informed decision and do some comparable shopping.

If you know of friends, family, or colleagues who are thinking about making a real estate move, feel free to pass along my contact information. Know that their real estate needs will be well attended to with kindness and professionalism. Your referrals will be greatly appreciated.

Elegant Homes in Lorne Park and Churchill Meadows, Call Betty at 416 427 1875, Fine Homes in 905, Market Watch

The hottest topic for everyone these days is the market. Although the forecast for 2009 promises more of the same, most markets are expected to weather the storm, says RE/MAX.

Housing market performance will clearly be contingent on economic performance at a local, provincial, and national level in 2009. Issues affecting the overall economy are impacting housing markets across the country and the situation is not expected to be remedied until consumer confidence is restored. With inventory levels remaining stable, pent-up demand kicking into gear, and low interest rates stimulating home-buying activity, we are seeing a bounce back in various areas surrounding the GTA.

While the economy will dictate real estate performance this year, it’s important to remember that demand still exists in the marketplace. In the midst of stock market turmoil, sold signs continue to appear on lawns across the country. With affordable lending rates and increased selection, first-time and move-up buyers with good credit may choose to play their investment strategy safe and purchase a home. The comfort of a tangible investment like real estate goes a long way in tough times.

Are you an Owner? If you own property in the Mississauga, Oakville, or Burlington Communities, and you would like to sell your residence, contact Betty Bartusevicius at 905 828 3434 or directly at 416 427 1875 and get a free market analysis.

Are you a Buyer and are interested in purchasing a home in the 905 area code? Contact Betty to receive FOR SALE/SOLD data of neighbourhoods to enable you to make an informed decision and do some comparable shopping.

If you know of friends, family, or colleagues who are thinking about making a real estate move, feel free to pass along my contact information. Know that their real estate needs will be well attended to with kindness and professionalism. Your referrals will be greatly appreciated.

Contact Betty Bartusevicius at 905 828 3434 or directly at 416 427 1875
Re/Max Realty Specialists Inc., Brokerage

Contact me by email; http://www.bettybart.com/AgentProfile/contactme.cfm

I can help you save time and money by shopping smarter;
http://www.bettybart.com/createnewclientuserid/whyregister.cfm

There is no time like the present to begin your investigations into a property purchase or sale that will lead to sound decision making.

Experience is not expensive; it is Priceless.

Call Betty at 416 427 1875, Elegant Homes in Lorne Park and Churchill Meadows, Fine Homes in 905, RBC

Are You Ready To Make Your Move?

Tired of Renting? Ready to Own? Read this article. It was presented to me by Lindsay Doke, Mortgage Specialist of the Royal Bank of Canada.

This is a sound article because with low interest rates and availability of homes in various price ranges throughout the '905' area code, you should start to consider the purchase of your first home or to upgrade to that next level of home.

If you are renting, you may dream about owning a home of your own - decorate as you like, enjoy great neighbourhoods, entertain family and friends -- but you may be uncertain whether you're ready, especially if you haven't started saving.

Fortunately, with today's low mortgage rates and more flexible down payment requirements, your first home may already be within your reach.

There is a sound financial reason to buy now: your home may be the the single biggest investment you will ever make, one that could pay off significantly in the long run.

Consider this: over the past 10 years, there has been a 65% increase in the value of the average Canadian home. To put that into dollars and cents, the average home in Canada would have cost $150,720 in 1985. Today, that same house would be valued at $248,176 -- a big increase in value over this period of time. And of course, the earlier you can redirect the money you pay in rent towards paying down a mortgage, the faster you will start building equity in your home.

Does the increase in value shown above represent a good investment? The answer is "YES". Typically, housing is a stable investment, offering good rates of return. Unlike the stock market, your home typically offers you a dependable rate of return. And of course, a place to live.

This housing market differs from the 1980's in the sense that, buyers went into panic buying and there was an over-supply of homes causing a swing in house prices. Now, we have been living in a period of low inflation and low interest rates, both of which help to maintain a strong, but steady, market for homes without wild swings in prices.

There's a tax advantage to purchasing a home. When you sell your principal residence for more than you paid for it, the increase in value (Capital Gains) is yours tax-free.

At the end of the day, one of the biggest considerations isn't the market, mortgage rates or investment value, but rather your desire to enjoy the comfort and privacy of owning your own home. The best time to stop renting and start owning is when you are ready.

Contact Betty Bartusevicius at 905 828 3434 or directly at 416 427 1875
Re/Max Realty Specialists Inc., Brokerage

Contact me by email: http://www.bettybart.com/AgentProfile/contactme.cfm

I am in this business for the long term. Being a full-time agent, I am committed to providing you with excellent service and I continue to share my real estate knowledge and thoughts with you. I want to be known as your Real Estate Advisor. Whether you want some reliable information about the Real Estate Market, or if you are just curious about how your home might stack up against the neighbourhood listings, remember, I'm just a call away.

Are you an Owner? If you own property in the Mississauga/Oakville/Burlington Communities, and you would like to sell your residence, contact Betty at 905 828 3434 or directly at 416 427 1875 and get a free market evaluation of your existing house.

Are you a Buyer and are interested in purchasing a home in the 905 area code? Contact Betty to receive FOR SALE/SOLD data of neighbourhoods to enable you to make an informed decision and do some comparable shopping.

If you know of friends, family, or colleagues who are thinking about making a real estate move, feel free to pass along my contact information. Know that their real estate needs will be well attended to with kindness and professionalism. Your referrals will be greatly appreciated.

Elegant Lorne Park and Churchill Meadows Homes for Sale, Fine Homes in 905, Mississauga Real Estate, Home Renovation Tax Credit

Located on Woodeden Drive, this home is ready for new owners. It provides you with a wonderful lot - 90 feet x 260 feet (approx.) - in a mature area of Lorne Park! This 4 bedroom home has been well-maintained and has a unique floor plan. This provides endless potential for the new owners to renovate or just upgrade. This absolutely gorgeous property is a great opportunity to build your dream home in a multi-million dollar neighbourhood. This home is also within the boundaries of some of the best schools.

http://www.bettybart.com/search/feature.cfm?ml_num=W1573897

For further photos of this lovely property http://www.bettybart.com/search/imagegallery.cfm?ml_num=W1573897&maximages

Contact Betty Bartusevicius for your own private viewing of this property at 905.828.3434 or directly at 416.427.1875

Re/Max Realty Specialists Inc., Brokerage
Contact me by email: http://www.bettybart.com/AgentProfile/contactme.cfm

Are you an Owner? If you own a property in this community or in Oakville or Burlington and you would like to sell your residence, click here and get a free value analysis.

If not this property how about someting else?

I can help you save time and money by shopping smarter; http://www.bettybart.com/createnewclientuserid/whyregister.cfm

There is no time like the present to begin your investigations into a property purchase or sale that will lead to sound decision making.

Experience is not expensive; it is Priceless.

Prestigious Homes in Lorne Park, Fine Homes in 905, Elegant Homes in Churchill Meadows, Buying a Home in Today's Market

Buying a Home in Today's Market

Is it a good time to buy?

Should I buy a home today or wait until the market calms down? I hear this question at least once every day. In order to answer the question you first need to look at the long term benefits of home ownership.

Financial Reasons:

• Fixed payments - no more rent increases
• Tax deductible interest
• Build equity through long term payments. Your house can be sort of a forced savings account.
• Build equity through appreciation. For any 10 year period including the years of the great depression real estate has gone up in value. We have seen that homes can go down in value but I also believe that they will go back up.
• Control a large, valuable asset for the cost of a down payment. $200,000 dollars of stock costs $200,000 to buy. A $200,000 house will have a down payment ranging from a few thousand dollars to maybe $40,000. But you control the entire house and are entitled to 100% of the benefits.

Over 80 percent of all buyers begin their search on the internet. Here are a few tips to help with your internet search:
- Put in good information. Your search results will only be as good as the search criteria that you input.
- Consider signing up for an automated listing search. With the automated search the new or changed listings that match your search will be automatically emailed to you.

Most agents will never call you and now with the Do Not Call List that has come out, agents have to be very diligent on who they will call. If agents do call, it usually is just an offer to assist with your search and there is nothing too heavy handed especially if there is no obligation from you as a client. This is not the case with myself. I call and help as much as you will allow me to do so, and see what your next step will be.

Many of the web "Sign ins" do not screen the information. I do screen site sign ups because I have had many requesting information with email addresses that go nowhere and also dead telephone numbers.

Contact Betty Bartusevicius for any additional information at905 828 3434 or directly at 416 427 1875
Re/Max Realty Specialists Inc., Brokerage

Contact me by email; http://www.bettybart.com/AgentProfile/contactme.cfm

I can help you save time and money by shopping smarter; http://www.bettybart.com/createnewclientuserid/whyregister.cfm

There is no time like the present to begin your investigations into a property purchase or salethat will lead to sound decision making.

Experience is not expensive; it is Priceless.

Elegant Lorne Park and Churchill Meadows Homes for Sale, Fine Homes in 905, Call Betty B 416-427-1875

There was a fresh line reported in the Toronto Sun by Stephen Dupuis. It stated, "A new year, a fresh start". This is so positive, that I would like to share this with everyone.

The second half of 2008 is part of a year that we all would like to forget. Let's hope this year is a little less exciting, hope that there is a lot less negativity in relation to real estate news. The comparison between what is happening in the U.S. housing market and a projected similar outcome for Canada has been blogged and reported to death. At one point, I decided not to write any more bad news about real estate. Now, with a new year facing us, let's take a closer look at what the Canadian Home Builders' Asssociation (CHBA) has to report. Note the important word -- CANADIAN.

As the CHBA report notes, some of the media have drawn a parallel line between the Canadian housing situation and the extreme difficulties in the housing market in the U.S. "There is absolutely no merit in drawing such a parallel," the CHBA reports. There are enormous differences between both countries.

Among the many points - the CHBA cites underwriting standards, mortgage features, mortgage insurance, mortgage arrears, equity levels, appreciation trends, inventory levels and many other factors, all of which we compare favourably on.

On underwriting standards, the difference is that we have standards whereas in the U.S. there were no standards. On mortgage features, the U.S. had things we have never had -- teaser rates (the mortgage starts out at an artificially low rate and rises later in the term.) U.S. borrowers had this blow up on them when the rising rates and declining prices occurred.

In Canada, mortgage insurance is mandatory on loans of over 80% of the value of the real estate. U.S. borrowers got around that with something called "piggy-back loans".

Considering price stability - we are truly different here in Canada, thankfully. Home buyers should be reading the media information with an open mind, or discussing finances with a mortgage broker/specialist. Canadian prices DID NOT rise nearly as far or as fast as in the U.S., so we're not likely to fall dramatically either.

The final conclusion of the CHBA report is that "there is nothing in Canada that compares with the vast over-supply and plunging housing prices that characterize many U.S. housing markets, nor is such a scenario likely to occur."

Thank you Stephen Dupuis, Toronto Sun, for such a refreshing message to start what I hope will be a prosperous coming year. Let's all enjoy the Presidential Inauguration on Tuesday, January 20th 2009.

Contact Betty Bartusevicius for your own private viewing of properties for sale or just to chat at 905 828 3434 or directly at 416 427 1875

Re/Max Realty Specialists Inc., Brokerage

Contact me by email; http://www.bettybart.com/AgentProfile/contactme.cfm

I can help you save time and money by shopping smarter;
http://www.bettybart.com/createnewclientuserid/whyregister.cfm

There is no time like the present to begin your investigations into a property purchase or sale that will lead to sound decision making.

Experience is not expensive; it is Priceless.

Bad Credit? Buy a Home? Fine Homes in 905, Lorne Park an dChurchill Meadows, Mississauga

Buying a Home with a Challenged Credit


Are you fed up with making the monthly mortgage payments for your landlord--helping him get richer and richer--while you throw away your own hard-earned money?

Are you sick and tired of making payments month after month, yet having nothing of value to show for it? You're not alone. Now there's good news for people who are tired of pouring their money into someone else's investment...

People with credit challenges can still buy a home, even now after the housing and mortgage meltdown. In fact, it's better than before, because those risky teaser (6 month introductory rates) rate loans are gone, and home buyers are getting secure 35-year fixed rates instead. You can buy with as little as 1.5% down!

Not only that, but prices are down and interest rates are down and there is a possibility of the rates going even lower! People are taking advantage of the current economic situation to get a home for less money, with a cheaper monthly payment.

Help is Here for Renters Who Want to Own

You can enjoy the financial security, deep satisfaction and self-esteem that comes from home ownership. No matter what your credit has been in the past, don't give up. And whatever you do, don't get left behind!

This is an incredible opportunity that is available to you--but only if you take the first step. Your first step is to read this article in its entirety. I want you to understand that I can make available to you, names of professionals that will provide you with advice regarding the mysteries of buying a house with bad credit, you will discover that you can experience the joy and reap the financial rewards of owning your own home! Even if you have bad credit on your record.

Has it boggled your mind how other people with poor credit--perhaps even worse than your own--get home loans, while you get turned down? Have you been disappointed time and time again? Or have you been afraid to apply because of your credit? All that is about to change! Get ready to "kiss renting goodbye!"

My Mortgage Specialists have spent years working for some of the largest national lenders: Royal Bank of Canada, CIBC, and others. They have experience in mortgage retail, mortgage wholesale, and mortgage brokering. What this means to you is that they know all aspects of the mortgage business, and they know how the most unlikely candidates get approved for home loans.

Insider Knowledge Will Get You Approved

We know what goes on behind the scenes in the underwriting department, what it takes to get "an exception" when you don't meet the regular guidelines. My Specialists know what the underwriters want to see on the application, and what they want to read in your Letter of Explanation. They know exactly how people with bad credit get approved. We will help you turn a loan denial into a loan approval! When You Know How to Apply for the Right Loan, It's Like Knowing a "Secret Code."


Don't Fill Out Multiple Applications and Get Your Credit Checked Over and Over Again... If you apply for loans all over the Internet, you're just setting yourself up for heartache after heartache. Not only is it a waste of time, but with hits to your credit report by multiple companies, your credit score may be further damaged. Credit inquiries count for 10% of your credit score. You don't want to risk lowering your score, especially if you're borderline or already have a low score. You can't afford to make that mistake!

Lenders can see where you've applied for a mortgage before, and when see a lot of company names, it makes you look desperate, and then, like a shark who smells blood, they charge you more.


You have nothing to lose. There is No-Risk for you to sign up on my web site and have one of my financial team contact you for a private interview.


Contact Betty Bartusevicius for your names of my Mortgage Specialists at 905 828 3434 or directly at 416 427 1875

Re/Max Realty Specialists Inc., Brokerage

Contact me by email; http://www.bettybart.com/AgentProfile/contactme.cfm

If not this information, how about just to chat?

I can help you save time and money by shopping smarter; http://www.bettybart.com/createnewclientuserid/whyregister.cfm

There is no time like the present to begin your investigations into a property purchase or salethat will lead to sound decision making.

Experience is not expensive; it is Priceless.