You are a good Client - Best Rates on Mortgage Renewal

The Mortgage is up for renewal. You expect a competitive quote!

The average mortgage is Toronto is just under 300K.  Source.  While watching current rates offered to new borrowers we received our Offer to Renew.



I was shocked to see that as a new Buyer my Trusted Mortgage Advisor could obtain 3.0%  (a few basis points below) fixed for 5 years. Why was I being offered 4.4% for the same term?

• Had I missed any payments?
• Had I been problematic?
• Was it in collections?
• Values dropping and they want out?
• Advance to Value declining?

Here are the hard numbers...

The lending institution is gambling that you will not spend a thousand to $1,500 to refinance and move your business elsewhere. We contacted another lender who waived their appraisal and application fees, needed only redocumented legals and a registration on title (lawyer fee). Yes we paid a discharge Fee and Leave Lender Fee; and extra $500.00

They gave us the 3.0% refinance package for 5 years saving me a HARD DOLLAR amount of $4,200 in the first year and the same in each following four years.  An actual savings of $20,000 that can go to principal reduction or other debt repayment instead of bank profits.  Do you have other bills you could have paid?

When we contacted the existing Mortgage Company they said; "Why are you moving your mortgage?"  We responded "We received a better rate." Their mortgage rep then said  "We can match that to keep your business!   Me:  "Why didn't you give us that in the first place?"    Silence.....

We had already signed the commitment with the second Lender.  Legals had been obtained and quoted. I don't have a [money] large enough accounts like UNIONS to threaten the bank with a withdrawal.

Have you had a similar experience?   

Can I recommend a Trusted Mortgage Advisor?  It may even be with the same bank! 


There is The better way to buy or sell a house in #Toronto or #Etobicoke  http://bit.ly//CallDavid  It's all about being part of the conversation....  All the detached houses you can handle.   http://homeswesttoronto.tumblr.com/mobile

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2013 Immigrant Buyers Program

So many changes recently to the CMHC Home Ownership programs I asked for a Summary of the Current programs and what requirements need to be met;

Product : New Immigrant policy changes·         All applicants are required to simply confirm 12 months of principal, interest, and (property) tax (PIT) payments in savings in Canada in addition to their down payment·         Maximum aggregate loan amount has increased for select areas in GVA to $1,250,000 and remains at $1,000,000 for properties located in the rest of Canada. Maximum of 2 properties applies.
·         Where limited or no credit bureau exists, credit worthiness can be established by one of the following:
o    Satisfactory letter of reference from a bank in the country of origin; or
o    Confirmation of rent payments supported by 6 months of bank statements from primary account; or
o    Documented 6 months of paid utility bill payments confirming no late payments (e.g. utility bills, cable, telephone etc.)
From our Vice President Mark Clearihue …
·         TD is #1 in market share since 2010 (see chart)
·         Total portfolio exceeds $218 Billion…LARGEST in Canada
·         2012 was a tough year – tighter regulations introduced by Dept of Finance for all banks
·         2013 will continue to see an extremely competitive market place in slower real estate market
·         Low interest rates, strong rental markets, and immigration still provide a foundation for reasonable markets. Spring sales season should be solid, but more modest

 Td economics·         The Bank of Canada left the overnight rate unchanged and downgraded its forecast for Canadian economic growth in 2013 to 1.5% (from 2.0% previously).
·         The global economic outlook remained more or less unchanged as growth has evolved “broadly as anticipated”. There was a slight upgrade to growth in Japan due to the recent announcement of new policy stimulus. Meanwhile, the Bank expected fiscal drag in the US to weigh more on growth in 2013 as opposed to being evenly spread between this year and next. Overall, the U.S. economy is expected to grow by 2%.

Romy Alegria | Manager, MMS | TD Canada Trust

P: 416.278.2540 | F: 1-866.222.5708

E: Romy.Alegria@td.com

W: http://mms.tdcanadatrust.com/romy.alegria

If you have a question please post it....

Ask people who can answer your questions  Not just make them up...  

Call me  

David Pylyp

Join a New Women' Prosperity Network

Celebrate, Mastermind & Grow with WPG! Women’s Prosperity Group (WPG) is a true “Network” of extraordinary women who are committed to excellence in every area of their lives.  WPG is the community where you can “Be Real, Get Real and Achieve Real Results.”

You have the ability and knowledge to do better at work, get a promotion, plan for your future growth, retirement, gaining equity with investments,  stock market and buying a home on your own for long term asset growth and stability.  
Who are you?
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If you want to create and develop lasting and trusted relationships, in an environment of mutual respect, trust and support, that allows your inner brilliance to shine, you’ve come to the right place!

Check out the wonderful opportunities we have created both online and offline for you to connect, grow and prosper with the most inspired and focused women making a difference in today’s world.

Romy Alegria Mobile Mortgage Specialist is hosted an open Forum for women to network, make friends socially and improve their financial position through being informed and up to date about investing and gaining equity through property ownership.


The Meeting is held Saturday Mornings during March at 11 AM till 12:30
PM on the second floor of the TD Bank 443 Queen Street, Toronto.  Parking is street level with parking meters at $3.00 per hour.  Elevators to Second Floor.TD Canada Trust Map / Directions   at QUEEN and SPADINA. Address: 443 QUEEN ST W TORONTO , ON M5V2B1

David Pylyp is an Accredited Senior Agent with RE/MAX Realty Specialists Inc., has established a new level of excellence in Real Estate through in-depth knowledge and a combined connection of services.

Our innovation is unlike any other; our creative thinking and determination separates us from 99%.  With these Videos we aim to bring you all the information available regarding the west Toronto Real Estate market.

The David Pylyp Real Estate Group at RE/MAX Specialists handle, every type of transaction from Toronto or Mississauga Homes, Condos and Investments properties.

http://en.wikipedia.org/wiki/Empowerment#Ways_to_empower_women

Ways to empower women

One way to deploy the empowerment of women is through land rights. Land rights offer a key way to economically empower women, giving them the confidence they need to tacklegender inequalities. Often, women in developing nations are legally restricted from their land on the sole basis of gender. Having a right to their land gives women a sort of bargaining power that they wouldn’t normally have, in turn; they gain the ability to assert themselves in various aspects of their life, both in and outside of the home.^[4] Another way to provide women empowerment is to allocate responsibilities to them that normally belong to men. When women have economic empowerment, it is a way for others to see them as equal members of society. Through this, they achieve more self-respect and confidence by their contributions to their communities. Simply including women as a part of a community can have sweeping positive effects. In a study conducted by Bina Agarwal, women were given a place in a forest conservation group. Not only did this drive up the efficiency of the group, but the women gained incredible self-esteem while others, including men, viewed them with more respect.^[5] Participation, which can be seen and gained in a variety of ways, has been argued to be the most beneficial form of gender empowerment. Political participation, be it the ability to vote and voice opinions, or the ability to run for office with a fair chance of being elected, plays a huge role in the empowerment of peoples.^[2] However, participation is not limited to the realm of politics. It can include participation in the household, in schools, and the ability to make choices for oneself. It can be said that these latter participations need to be achieved before one can move onto broader political participation.^[6]When women have the agency to do what she wants, a higher equality between men and women is established. It is argued that Microcredit also offers a way to provide empowerment for women.^[7] Governments, organizations, and individuals have caught hold of the lure of microfinance. They hope that lending money and credit allows women to function in business and society, which in turn empowers them to do more in their communities. One of the primary goals in the foundation of microfinance was women empowerment. Loans with low interest rates are given to women in developing communities in hopes that they can start a small business and provide for her family.^[8] It should be said, however, that the success and efficiency of microcredit and microloans is controversial and constantly debated.^[9]

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The Greater Fool - Pump and Dump

There is news, and then there’s sort-of news. Real news might be that the government is about to fall, new home sales in Toronto last month plunged or that twenty million Americans have mortgages which exceed their home values. Oh yeah, and Mumbai. Real news these days tends to be real depressing.

That may be why there`s so much sort-of news, especially online, where anybody can turn out a spiffy blog with passable gfx and look credible. That’s ok. It’s a free country. But if you were to start a blog and claim Stephen Harper is in control or that the west coast of India is lovely this time of year, few people would believe you, and the consequences would be thin.

However, when it comes to real estate news, it’s a different story. Legions of potential homebuyers and misty-eyed young couples use the web to search out a home and to research current conditions. Often they turn to ‘real estate professionals’ who position themselves as authorities, or the purveyors of credible market information. Big mistake, kids. Almost every realtor out there masquerading as an analyst seems unable to resist the temptation to pump and dump.

And I’m sad to say this. It drags down the entire professional. Maybe there should be something radical – like regulation.

Anyway, here’s a taste of what I mean.

In Vancouver, condo flogger Ken Stef says “Housing prices will not stay low for long!” Hmmm. Based on what? Oh yeah, a story in the Homes Section of the Vancouver Sun by developer Peter Simpson. “Six months ago, people were dancing on the ‘don’t-worry-be-happy’ bandwagon. A couple of those same guys now believe the world is nearing its end,” Stef says, “and have assumed the fetal position in some dark, clammy corner… The return to a balanced market offers many opportunities to buyers.”

Vancouver. Average home price down $75,359 in six months. Annualized decline, 21.7%. Welcome to a balanced market. Next stop, the Taj Hotel for a quick drink.
(Speaking of Van madness, please see chart, and my note, below.)

In Toronto, condo pumpers Laurin and Natalie Jeffrey boldly headline, “Buyers not deterred by doom and gloom reports.” They point to a fluff piece in the Star which reports 2,100 new homes and condos were sold in the GTA (population 6,000,000) in October. If there is a lesson in all of this, it’s not to get caught up in all the exaggerated doom and gloom,” the Jeffreys exude. “If the circumstances have finally come together and you are in the right position to buy that new home or condo, don’t let it slip away to someone else because you’re psyched out by all the negative headlines or thinking you might get it for less down the road.”

“Unlike the US or Western Canada where prices spiked dramatically, driven by subprime mortgage lending in the US and commodity wealth out west, GTA new home prices have risen gradually, and according to Canada Mortgage and Housing Corp., will rise a further 1.8% in 2009.”

Sure they will. Say, is that the same CMHC which forecast a 6% increase for prices in the GTA in 2008? Amazing how those pointy-headed guys missed the $45,713 average price drop in the last six months, a 25.9% annual decline. And as for new home sales last month, they were down 44% in Toronto. Hey, condo babes, where do I sign? Pant, pant.

Now, I understand fully real estate practitioners are sales people. I also understand most are honest, decent and ethical. And I know this is a bitch of a time in which to make a living on commission. But real estate is a commodity which moves higher and lower in response to a myriad of factors and after more than eight years of up, it’s going to have at least three or four years of down. That doesn’t mean the world stops or that people will cease buying and selling houses.

But it does mean purchasers will be more wary, value-conscious and discerning, while sellers must be realistic, pragmatic and pliant.

It also means realtors who hope to weather this storm must be seen as credible and trustworthy. If they set themselves up with blogs and snazzy web sites full of opinion, at least what they have to say should be believable. This is not a market anybody with a sales license can wish better. Shame on those who lure in buyers with false prophecies or prey on the uninformed with misinformation.

When the buyers return, you won’t.

David Pylyp; I don't want to argue the points, The Facts are the Facts, But look at the facts yourself contained in the report below vs reading a headline. Garth predicts a decline and Canada Mortgage and Housing predicts a flatline (1.2% increase year over year.) Employment stats indicate with a continuing depression in jobs (manufacturing in Southern Ontario) our unemployment rates may skyrocket from 6.5 to 7.0 or maybe 7.2%.

The seminar that I attended (December 1st, Hosted by Denise Pisani TD Mortgage Manager and CMHC economists) revealed some interesting staticstics about confidence in the market place and pent up demand. The highest jump in values was the condo market quoted at 9% where the detached homes increased 4.2% over the same one year 2007 - 2008 period. This is fed by affordability where first time buyers entering the market place are limited by their downpayment and monthly budget restrictions. If you are Selling and Buying at the same time, local market conditions do not affect your purchase. Yes, You may sell for less, But you will buy for less too.

Check The Bank of Canada website for interest rate trends. Check the How the Government bought Mortgages from the Bank for yourselves. Read the source material. It is all available to you. Unfortunately CMHC is not in the business of selling newspapers or books, they merely report the facts.

This Outlook report for the Greater Toronto Area is published semi-annually and offers forecasts and analyses of trends in the new, resale and rental housing markets. For the new home market, housing starts and price changes are examined in detail, while the resale section presents sales activity, average prices, and listings. Analysis of the rental market focuses on vacancy rates, average rents and related forecasts. An overview and forecast of key economic indicators is also detailed, along with other factors affecting the local economy and housing market.

If the report will not download for you, send me an email and I will forward the actual pdf file,

Your comments are always invited.

If you are considering selling or buying I would like to hear from you.

Canadian women homebuyers....... Survey says..

Poll shows major regional differences in buying, selling patterns for Canadian women homeowners

- Vancouverites much more likely to buy condos than houses
- Calgary and Edmonton women split between houses, condos
- Toronto women twice as likely to buy condo than house
- Family support strong for first time purchasers

TORONTO, Feb. 29 /CNW/ - What type of home the individual female
homeowner chooses to buy varies widely by region, according to a national poll
by TD Canada Trust. Yet wherever they live, the support they receive from
family is very strong.
When it comes to condominium versus house as a purchase, condos come out
ahead on a national basis. 42% of poll respondents choose them compared with
34% for houses. On a regional basis:

Almost three-in-four Vancouver women buyers (73%) purchased a
condominium; 11% a house.

• In Calgary and Edmonton, the condo/house choice was evenly split,
  with 31% opting for condos and 33% for houses.
• 64% of Prairie women (residents of Winnipeg, Regina and Saskatoon)
  bought a house as their most recent home purchase. Only 26% bought a
  condo.
  
• In Toronto, 52% opted for condos and 25% for houses.
  
• 41% of Montreal women poll respondents bought a house. 35% bought a
  condo.
• 57% of Atlantic women chose a house; only 5% bought condos.
  

"When we see that Vancouver women homebuyers are far more likely to buy a
condo than women in Atlantic Canada, it becomes clear that price and
availability are major decision factors," says Joan Dal Bianco, Vice
President, Real Estate Secured Lending. "It would seem that Canadian women are
making primarily economic, market-driven decisions regarding the type of home
they will live in, rather than basing their decision on maintenance, security
or other factors."

The poll, conducted in the first two weeks of this year by Ipsos Reid,
was among women aged 20 to 45 who have purchased a home as an individual
rather than jointly with a spouse or common law partner. Among this group, the
average age at which they purchased their first home is 29 years. 82% are
single, 80% have no children and 49% have a university degree. The vast
majority (86%) still live in the last home they purchased and have made only
one home purchase as an individual (81%).

When asked how they would characterize the support they received from
their family when they told them they were buying their first home as
individuals, three-in-four women (74%) across Canada say their family was
"very supportive". Only 7% indicate the family was "not very supportive" or
"not at all supportive".

When asked what would motivate them to sell their home, the reasons vary
across the country. "Trading up to a better home" is the top reason on a
national basis, with half of women (50%) mentioning it. Regionally, Vancouver
and Atlantic women are the most inclined to be motivated by trading up (60%
each). Montreal women the least inclined (41%).

Across the country, "getting married" was fifth on a list of the top six
reasons for selling one's home, with 29% of poll respondents. Women in Toronto
(41%), Calgary/Edmonton (40%) and the Prairies (38%) are somewhat more
inclined than the national average to cite marriage as a reason to sell. In
Montreal, only one-in-ten women (11%) say marriage; in Atlantic Canada, it is
one-in-five (20%).

"These poll findings portray a young, independent, financially savvy
woman homeowner," concludes Dal Bianco. "This is a revolution that will likely
change the face of Canadian housing."

The online survey was conducted among 713 women living in major
metropolitan areas across Canada and reflects the population of Canadian women
in these areas aged 20-45 according to 2006 Census data. The margin of error
for the total sample is +/-3.7%, 19 times out of 20.

More women buying their own homes

Seven in 10 Canadian women homeowners bought their properties as a "good investment," says a new national poll released today.

The poll by TD Canada Trust, conducted in the first two weeks of this year by Ipsos-Reid, was among women aged 20 to 45 who have purchased a home as an individual rather than jointly with a spouse or common law partner.

Among this group, the average age when they purchased their first home is 29 years - 82 per cent are single, 80 per cent have no children and 49 per cent have a university degree.

The vast majority (86 per cent) still live in the last home they purchased and have made only one home purchase as an individual (81 per cent.)

"With more and more Canadian women marrying later in life or remaining single, we're seeing the emergence of the young, financially savvy woman who's taking on the commitments, joys and responsibilities of owning a home," said Joan Dal Bianco, Vice President, Real Estate Secured Lending for TD Canada Trust.

Respondents indicated their main motivation for buying a home was that it was a good investment (71 per cent), that they didn't want to pay rent anymore (61 per cent) and their desire to get into the housing market (54 per cent).

More than three-quarters (77 per cent) say their biggest worry prior to purchase was the affordability/financial commitment, while half (51 per cent) cited having to assume homeowner responsibilities such as maintenance and a homeowners legal liabilities.

Overall, condominiums are the most popular option for individual women homeowners (42 per cent), followed by houses (34 per cent), townhouses (13 per cent) and duplexes or triplexes (six per cent). Vancouver women, at 73 per cent, are most likely to buy a condo, followed by Toronto women (52 per cent). In Calgary, Edmonton and Montreal, condos and houses have the same appeal to individual women buyers.

"We are witnessing nothing less than a revolution among individual Canadian women," said Dal Bianco. "Right across the country, they are investing in themselves and in their futures by becoming homeowners, and in doing so are strongly reinforcing their financial and personal freedom." mtoneguzzi@theherald.canwest.com

This survey from the Calgary Herald in almost a mirror image of the Vancouver results published in this blog indicating a six in ten buyers were single females.

Extra Land Transfer Tax motivates everyone

On October 22, 2007, Toronto City Council approved a new land transfer tax which takes effect on February 1, 2008. More details on implementation are available in a report recommended by Executive Committee on October 29, 2007 to be considered by Council on November 19 and 20, 2007. Staff Report to Executive Committee October 26, 2007.



A creative marketing opportunity was seized by the Bank of Montreal to assure Buyers that they need not rush to buy their properties in accordance the Land Transfer Tax imposed by Toronto Council, if they financed with BOM their tax to a maximum of 1.5 % would be paid by the lender. http://www2.bmo.com/news/article/0,1083,contentCode-7095_divId-4_langId-1_navCode-112,00.html



As of this posting; The Toronto Dominion Bank has advised their Mortgage reps that they will meet and further enhance the offer of tax relief. http://www.eleganthomesinwesttoronto.com/ShowResources.cfm?Pageid=46851&TypeOfPage=1



I look forward to the newest offers available for buyers to encourage them to join the Home Ownership market. I believe that to stay competitive and maintain market share, the other lenders serving the Toronto (GTA) will follow suit. Check out the What will I do for you? or First Time Buyers Guide.