Hagersville, Northview Estates, New Adult Living, 1,249sqft, 2bed/2bath $227,950

http://www.realestatechannel.ca/25667

Stunning Freehold no fees 1,249sqft Bungalow Semi%u2019s and Townhomes. 2 bed and 2 full bath designed for mature and professional adults. Designed open concept with customizable kitchen, generous lighting allowance personally select your lighting fixtures, 9' ceilings, main floor laundry/mud room off inside garage entry, patio doors off living room to 10x12 deck and wide foyer hallway. Units starting @ $212,950. Only 25 minutes to Hamilton, in town hospital and walking distance to amenities. Floor plan and construction details brochure available @ http://bit.ly/JwUw3C

New round of tightening Canadian mortgage regulations kicks in July 9th

New round of tightening Canadian mortgage regulations kicks in July 9^th.

On June 21^st, Canada’s federal government announced a further tightening of Canadian mortgage regulations effective July 9^th.   In the announcement, Finance Minister Jim Flaherty stated that the new regulations were introduced “to keep the housing market strong, and help to ensure households do not become overextended.”  Changes include the maximum amortization period being reduced to 25 years from the previous 30 years. Also, the maximum amount of equity homeowners can take out of their homes in a refinancing is being reduced to 80% from 85%. These new mortgage regulations echo earlier reductions of amortization period and lowered refinancing maximums that came into effect last year.   

Click here for full details on Canada’s new mortgage regulations.

Although the changes have been endorsed in the media by Canada's big banks, including TD and Bank of Montreal, the Canadian Real Estate Association (CREA) urges the government to carefully consider the impact of further interventions in the market.  It is well known that housing is a key driver of the economy.  In fact, according to CREA, re-sale housing will add an estimated $20 billion in spin-off spending and over 165,000 jobs to the Canadian economy in 2012.  CREA also cautions the government to closely monitor the impact of these measures to ensure they have the desired effect without slowing the economy.

Meanwhile, the Canadian real estate market remains balanced, and Canada continues to enjoy near-historic low interest rates.  The dream of homeownership remains in reach for a large number of Canadians.  While the reduction in maximum amortization period may affect some buyers, there are many who will not be impacted by the changes.  Others who may have planned to amortize their mortgage over a 30-year period have several options, including saving for a larger down payment, choosing a slightly lower-priced home in their target area, or consider trading location for commute.  There are a variety of options, and buyers should ask me to find the solution that’s right for them.

@ Home Newsletter - Summer 2012

Canada’s Seniors Market is Growing

Canada’s Seniors Market is Growing

In a recently released report, StatsCan announced that Canadians are now living longer than ever before.  This longer life expectancy means that Canada’s Seniors Market is growing ‘on both ends’.  More Canadians are entering retirement age, as the ‘baby boomer’ generation is aging, and retirees are living longer once they get there. 

According to the Statistics Canada report, life expectancy at birth in Canada reached 80.7 years for the three-year period between 2005 and 2007, up from the average of 78.4 a decade earlier between 1995 and 1997.

Gains during the past decade were stronger among men. Their life expectancy at birth rose by 2.9 years to 78.3 in 2005-2007, while among women it increased by 1.8 years to 83.0. The gap between the sexes has been closing for several years.

Life expectancy among seniors at the age of 65 has also been on an upward trend for several years.  On average, a 65-year-old man could expect to live an additional 18.1 years in 2005-2007, an increase of 2.0 years from the previous decade. A 65-year-old woman could expect to live an additional 21.3 years, up by 1.3 years.

As the population ages, their real estate needs will also change.  What’s more, these seniors will tend to have the financial resources to readily make changes to suit those changing needs. Seniors will play an increasingly important role in Canada’s real estate market in the years ahead.

If you’re thinking of selling your home, you’d be wise not to overlook this growing segment of the Canadian population.  I can give you tips on how to target this increasingly important niche market.  And if you’re one of the those Seniors who is planning to downsize, upgrade, or buy a retirement property, I can advise you on some of the features that will best suit you in your ‘golden years’.  If you’d like to know more about the Senior’s real estate market, contact me.  You’ll be glad you called me first.

30 Minutes to Hamilton, easy one floor plan on quiet tree lined street. $184,900

Easy everything on one floor plan with bonus finished attic on quiet tree lined street with super sunroom and large garage. Very updated and only 30 minutes to Hamilton. http://www.realestatechannel.ca/25306