Oct 28

Adjustable Rate Mortgage (ARM)

The interest rate with this program periodically rises and drops based on different market indexes. You will be assuming risk if the market justifies the rate increasing, but can also tremendously benefit if the market justifies the rate to fall. This loan program is popular with homeowners who only plan on being in the home for a short period of time.

There are two main factors that go into determining the rate you pay, the index and the margin.  The index rate is set by market forces and made public by a neutral third party. Margin is the number of percentage points that is added to the index as agreed upon with the loan program, this is how your adjusted rate is determined. Multiple indexes exist and each has its own way of determining fluctuation. CMT, LIBOR, MTA, COFI are examples of the indexes that are used for these loan programs.

It is very important to ask if and what are the limits to what the rate can be raised for the ARM at each review and over the entire life of the mortgage. Limits on a rate increase are known as “caps”, these caps are essential so you will have the ability to predict how your rate and monthly mortgage payment could change.

Oct 26

5959 Yonge Street Condos

Registration now open for investors and buyers

There is a lot of excitement in the air, the local media is buzzing with Ghods Builders Inc. announcement of their new up and coming development at 5959 Yonge Street.  Take a moment now to register at www.5959yongecondos.ca to receive up to date news and important information on purchasing a unit. Sales will be going fast due to the overwhelming demand and popularity of the project. Register today before the project is open to the general public and save thousands of dollars

5959 Yonge Street Condos will feature a urban design that will fit right into the community.  Phase I will be located at Yonge street and Cummer and will be the center of community.  Bringing an urban design to a much needed area of Toronto will boost the overall neighborhoods appearance. The building will be designed by Kirkor Architects Planners which will ensure a cutting edge design.  Phase I will feature a 31 storey building and Phase II will be a 43 tower, unit size will be between 500 square feet all the way to approximately 1200 square feet.  With plenty of amenities 5959 Yonge Street Condos will meet the most upscale urbanite’s standards. The complex will also house plenty of retail space which will boost the local business sector and enhance overall lifestyle at Yonge and Cummer Street.

Take a moment to register now for exclusive information.

5959 Yonge St Condo Project Details

WEBSITE : Http://www.5959yongecondos.ca
DEVELOPMENT : 5959 Yonge Srteet Condo
Ghods Builders Inc.
5959 Yonge Street, North York, ON M2M 3V7, Canada
CONSTRUCTION STATUS : Registration Phase
Please take a look at one of the newest renderings of 5959 Yonge Street Condos
5955 Yonge St. Condos now registering at www.5959yongecondos.ca

5955 Yonge St. Condos now registering at www.5959yongecondos.ca


Oct 26

Home Affordable Modification Program (HAMP)

The Home Affordable Modification Program (HAMP) is one of the safest and most efficient ways to save one’s home. Unfortunately, not everyone qualifies for a home loan modification. You must meet both government and lender guidelines to be able to take part in the program. Home loan modification qualifications may vary from lender to lender, but for HAMP, the following rules apply:

1) The mortgage must have been taken out in 2009; that is, the date of origination must be on or before January 1st of the said year.

2) You must use the home as your primary residence at the time of the loan modification. Rental or commercial properties, second homes, and homes of more than four units do not meet home loan modification qualifications.

3) Your mortgage balance must be no more than $729,750 if it’s a single-family home, $934,200 if it’s a two-unit property, $1,129,250 if it’s three units, and $1,403,400 if it’s a four-unit home.

4) You must be in financial hardship or prove that you’re at risk of it. According to home loan modification qualifications, a hardship is valid if it’s beyond your control. Losing your job, medical expenses, or a death in the family can be a valid hardship, but excessive spending or bad investment choices may not make the cut.

5) The loan must not have been previously modified. You cannot get a second loan modification even if you still meet home loan modification qualifications.

6) You must have a source of income to prove that you can afford the modified rates if they are granted. Most lenders’ home loan modification qualifications require at least two months’ worth of pay stubs or documentation of income.

7) You must prove that you have no other means of keeping the mortgage current besides a loan modification. This is usually in the form of bank statements and income tax returns.

8) If your total debt takes up more than 55% of your monthly income, you will need to attend a credit counseling session at the Department of Housing and Urban Development (HUD).

Once you meet these guidelines, you can send a HAMP application to your lender. They will then assess you using their own home loan modification qualifications. Make sure to provide as much information as possible and be prepared to submit additional documents if necessary. This will help you avoid delays and get your loan modification processed sooner.

Oct 22

How to Select a Settlement Attorney

Because today’s real estate settlement is an
extremely complex matter, the competence of the
attorney handling the transaction is clearly the most
important factor. The first question to ask when
inquiring about a settlement is: who will actually be
conducting my settlement? Will I have a Real Estate
Attorney in the room? A licensed settlement Agent?
Or just some employee of a title company with no
formal training in the intricacies of real estate?

Once you have determined that you will have an
attorney at the settlement table, you should ask if the
Settlement Attorney has kept their skills sharp and
current by taking recent continuing education courses
or even better, if the attorney TEACHES
THOSE COURSES? Finally you should ask whether the
attorney belongs to relevant trade and professional
associations such as the Greater Capital Area
Association of Realtors (GCAAR), Maryland Land Title
Association (MLTA), District of Columbia Land Title
Association (DCLTA), and the Real Estate Section of
the Local Bar Associations.

Stress-Free Settlements’ General Counsel are members
of the MLTA, DCLTA, Affiliates of GCAAR and have
been elected to serve on the Steering Committee of
the DC Bar Real Estate, Housing and Land Use Section.
They also have been approved to teach Real Estate
courses which qualify for Continuing Legal Education
Credits for attorneys by the DC Bar and for Realtors by
the Real Estate Commission.


How many settlements has the settlement attorney
handled? Obviously there are many variables in every
settlement and the more settlements that have been
closed successfully, the more likely that the settlement
attorney will have addressed any problem issues that
may arise during your settlement.

But sheer numbers of closed settlements does not
necessarily mean valuable experience. Additional
factors in determining the settlement attorney’s
experience include whether the settlement attorney
handles others real estate matters besides settlements.
For example, have they ever been Realtors or do they
handle real estate litigation. Each of those experiences
provide valuable skills for a settlement attorney.


Is your settlement attorney highly regarded by his or
her peers for honesty and integrity. Have they been
selected by their peers to leadership posts in trade
associations or received other honors, awards or


When selecting your settlement attorney, you need to
make sure that the office is located in a convenient
location and that the office is willing to accommodate
your busy schedule. As a busy Realtor running from
settlement to settlement and showing to walk-throughs
you are well served to select a well-located office with
easy access in and out which will accommodate early-
morning, evening and weekend settlements when
necessary. Your busy clients will appreciate a flexible
settlement office who will never keep you waiting but
will always find the time to squeeze in one more
evening settlement for that client who is leaving town
the following morning.


These days accessibility is a combination of common
courtesy and use of state of the art technology. You
will have many questions concerning your settlement
and it will be essential that you are able to get answers
from your settlement attorney or his staff.
Accessibility may take the form of returned phone calls
in a timely manner; e-mail exchanges or access to the
settlement attorney’s web site which may contain
useful information about the real estate settlement
process and may link to valuable resources.

Before selecting a settlement attorney, make sure you
can reach him or her 24 hours a day via at least one
means of communication: phone/fax/e-mail or text

Stress-Free Settlements uses the latest in
telecommunications technology to stay in touch with
clients. All telephone messages and incoming faxes are
logged into an e-mail system accessible from each
office and from each settlement attorney’s personal cell
phone. Your calls will be promptly returned by a
member of the Stress-Free Settlements team who will
have the answer to your question.


You want certainty in your real estate transaction.
You should select a settlement attorney who is willing
to provide you with written fixed list of costs which
may be applicable to your settlement. But don’t be
fooled into selecting the cheapest nor the most
expensive settlement provider. The low-cost
settlement agent may cost you far more if the
settlement is not handled properly, delayed or worse,
cancelled due to incompetence or indifference

May 02

ECondos for Sale

E Condos

Two new towers will be developed on the corner of Yonge and Eglinton. This project is brought to you by a well established developer named Bazic Inc and designed by Varacalli Architects. The E Condos will stand out with their distinctive black, white and grey glass panels.

One of the towers stand 38 storeys high while the other is 64 storeys. There will be a total of around 1000 new suites available for sale. The square footage will range from 466 to 1,240. There will be a variety of floor plans available that will include: 1 bedroom, 1 bedroom with dens, 2 bedroom, 2 bedroom plus dens, and 2 bedroom with a den and a terrace. Living in a well established and sought after area will run you about $290k+ for the smaller units. Additionally lockers will cost $5k, and underground parking will set you back another $58k.

On the ground level, between the two condos there will be retail space to provide quick and convenient shopping opportunities. Not to mention that the area is surrounded with stores, restaurants, cafes, bars, grocery store, a movie theatre and much more. It is said that there will be underground access to the three corners of Yonge and Eglinton and to the subway line.

This condominium will be loaded with amenities, and high end finishes that will be built with precision. Nine feet ceilings throughout, windows covering the entire wall, pre-engineered floors, upgraded kitchens that have quartz countertops, integrated appliances, and a modern washroom. A party lounge will be available, dining rooms, yoga studio, fitness room, and a technology lounge. The door terraces will be equipped with barbecues, dining tables, sun beds, and seating.

One of the main attractions is the unique glass swimming pool. Where you can go for a swim while having an incredible view of Toronto from the 31st floor.

Apr 21

Odor Can Chase Away Buyers

Having pet odors inside your home can turn off potential home buyers and keep your home from selling. Ask your real estate agent for an honest opinion about whether your home has a pet smell.

If your agent holds her nose, here’s how to get rid of the smell:
Air your house out. While you’re cleaning, throw open all the windows in your home to allow fresh air to circulate and sweep out unpleasant scents.
Once your house is free of pet odors, do what you can to keep the smells from returning. Crate your dog when you’re out or keep it outdoors. Limit the cat to one floor or room, if possible. Remove or replace pet bedding.

Scrub thoroughly. Scrub bare floors and walls soiled by pets with vinegar, wood floor cleaner, or an odor-neutralizing product, which you can purchase at a pet supply store for $10 to $25.

Try a 1:9 bleach-to-water solution on surfaces it won’t damage, like cement floors or walls.

Got a stubborn pet odors covering a large area? You may have to spend several hundred dollars to hire a service that specializes in hard-to-clean stains.

Wash your drapes and upholstery. Pet odors seep into fabrics. Launder, steam clean, or dry clean all your fabric window coverings. Steam clean upholstered furniture.

Either buy a steam cleaner designed to remove pet hair for around $200 and do the job yourself, or pay a pro. You’ll spend about $40 for an upholstered chair, $100 for a sofa, and $7 for each dining room chair if a pro does your cleaning.

Clean your carpets. Shampoo your carpets and rugs, or have professionals do the job for $25 to $50 per room, depending on their size and the level of filth embedded in them. The cleaner will try to sell you deodorizing treatments. You’ll know if you need to spend the extra money on those after the carpet dries and you have a friend perform a sniff test.

If deodorizing doesn’t remove the pet odor from your home, the carpets and padding will have to go. Once you tear them out, scrub the subfloor with vinegar or an odor-removing product, and install new padding and carpeting. Unless the smell is in the subfloor, in which case that goes next.

Paint, replace, or seal walls. When heavy-duty cleaners haven’t eradicated smells in drywall, plaster, or woodwork, add a fresh coat of paint or stain, or replace the drywall or wood altogether.

On brick and cement, apply a sealant appropriate for the surface for $25 to $100. That may smother and seal in the odor, keeping it from reemerging.

Place potpourri or scented candles in strategic locations. Put a bow on your deep clean with potpourri and scented candles. Don’t go overboard and turn off buyers sensitive to perfumes. Simply place a bowl of mild potpourri in your foyer to create a warm first impression, and add other mild scents to the kitchen and bathrooms.

Control ongoing urine smells. If your dog uses indoor pee pads, put down a new pad each time the dog goes. Throw them away outside in a trash can with a tight lid. Remove even clean pads from view before each showing.

Replace kitty litter daily, rather than scooping used litter clumps, and sweep up around the litter box. Hide the litter box before each showing.

Relocate pets. If your dog or cat has a best friend it can stay with while you’re selling your home (and you can stand to be separated from your pet), consider sending your pet on a temporary vacation. If pets have to stay, remove them from the house for showings and put away their dishes, towels, and toys.

Apr 21

River City Condos For Sale

The river city development started back in 2000. It is a three phase project and is in the pre-construction phase. Currenlty Phase 3 For Sale. Where as phase 1 has been fully constructed in 2013, and the second phase is nearing its completion. The 28 storey building will look similar to the first building with its dark colour scheme and will be a visually appealing contrast of the second building that is lighter in colour.

It will also follow LEED gold standards which is the first of its kind in the city of Toronto and will be completely carbon neutral. There are 7 key aspects to obtain this high level of standard. It is a recognized rating system in the construction industry. This deems how environmentally sustainable the building design is.

The seven topics cover to make River City a gold standard include:

1. How minimal the storm water runoff is. The encouragement of carpooling, increasing urban density and green space.
2. Reduce the consumption of water, and treat wastewater as well.
3. Lower energy consumption by using renewable and efficient energy.
4. Use renewable materials to minimize waste.
5. Provide healthy living for tenants by having enough natural light, materials that have low off gas, and fresh area.
6. Improve the area with a green healthy environment.
7. Construct durable buildings.

The neighbourhood, which River City Condos resides in, has a good walk score and is surrounded by well established communities which include Corktown, Leslieville, and the Distillery District.

Mar 15

FALSE: Saving Money = Good Investment

How many rich people do you know who have become
wealthy by investing in savings accounts? I rest my case.
But don’t get me wrong. Saving money is good. In fact,
it is important to the wealth building process. It’s not
the money saved that is important. It is the DISCIPLINE
required to save it. But you can’t except your savings to
carry you to wealth. And this is the fact that is so
widely misunderstood.

Even the seemingly exciting high interest rates paid by
the popular money market funds are not enough. Any dollar
that earns LESS the 10% per year is losing venture
assuming inflation & taxes. “But, you say, “savings
accounts and certificates of deposit are safe and the
money comes easy”. And I reply, “Does it make you feel
safe and secure to know that every day you are getting
poorer and poorer?” If you ignore the erosion effects of
taxes and inflation that is exactly what could be
happening to you!

There is nothing wrong with economizing. There is a place
for it in the scheme of wealth. However, if you want to
become wealthy you must learn how to save smart. The
money you save is only parked temporarily in liquid,
interest-bearing accounts waiting for a better place to
invest. This smart money is then shifted into long-range,
less liquid investments which generate wealth-producing
rates of return. RATES well in excess of 10% per year.
ANYTHING LESS is tantamount to treading water in the
swimming pool on the deck of the Titanic!

What kind of investments generate double digit rates of
return over the long haul? Real Estate Investment
Properties. If you combine the LEVERAGING EFFECTS of
aggressive financing available to investors today with the
beauty of having someone else pay for you to own your
investment (your tenants) the results are clear. Even
when propery values only increase at modest rates of 3% to
4% per year, if you purchase the investment property with
20%, 10% or even less down, the returns on YOUR invested
capital can be huge!

Using leverage to invest in stocks is called buying
on “margin”, and it is considered to be highly speculative
and therefore risky. Using leverage in real estate is
done by almost every person in the USA who owns a home.
The wealth statistics of home owners vs. non home owners
in this country are staggering. It is as close to an
automatic way to generate wealth as you are going to get.
For more information on wealth building strategies with
real estate,

Jan 23

Number of Single Women Buying Homes Growing

According to the National Association of Realtors, 22% of the buying force of home sales are women for the year 2006, which is up 14% from 1995.

Single men on the other hand account for just 9% for 2006, unchanged from the mid 90’s.  Home builders and real estate agents are paying attention to this trend by specializing in smaller, low maintenance houses that women prefer.

Good realtors are familiar with the neighborhoods that emphasize safety and houses with attached garages


Jan 22

Using Retirement Money to Buy Real Estate

You may be unaware that special provisions under the
tax laws allow you to withdraw funds from your retirement
accounts to buy real estate.

1. First-time homebuyers can tap their IRA without tax

You can withdraw up to $10,000 once in a lifetime from your
IRA without tax penalty to purchase a principal residence
for yourself or for a family member. A family member is
defined as

your spouse

your child

your grandchild or ancestor

your spouse’s child

your spouse’s grandchild or ancestor.

The homebuyer must be someone who has not owned a home in
the previous two years. If the homebuyer is married, the
spouse must not have owned a principal residence during
that period, either.

2. You can get a loan tax-free from your retirement funds
to buy real estate, even if it’s not a first-time home.

If you are you self-employed, or a small business owner you
get even more flexibility to tap into your retirement
money. Your business does not have to be elaborate.. for
example, you can operate a part-time business as a sole
proprietor, a 1099 income consultant, or as an independent

As long as you are the only employee in your business you
can establish a Self-Employed 401(k) plan. You can then
transfer funds from your IRA, qualified pension plan, like
a 401(k) or a 403(b) tax-sheltered plan, into your Self-
Employed 401(k) plan. Assuming your plan has a loan
feature, you may borrow up to $50,000 from your account
balance (or 50 percent, whichever is less). The loan will
stay tax-free and penalty-free, as long as the money is
paid back on time. You can use the loan for any purpose,
but if you use the money to buy a primary residence, the
loan can be extended from the regular 5 years payback
period to 10 years.

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