Instant Gardens in Ottawa

This morning I drove past the Parkdale Market, right across the street from my office at Royal LePage Office.  I know the old adage is to not plant your garden before the May long weekend but….  Almost all of the stalls are now open and there is a profusion of hanging baskets of flowers.  WOW. 

If your house is for sale, think about investing some money (around $100) in hanging flower baskets.  You can hang them from hooks from your fence or from the porch ceiling OR you can put the baskets in containers, such as the urns that are currently being sold.  The urns can sit on either side of the front door or can be on the deck in the backyard. 

Look for flowers that will give your house a terrific punch of colour. 

Hanging baskets give instant curb appeal.   

 Photo Credit:  Hanging Baskets @ http://www.flickr.com/photos/gomattolson/562725786/

Valerie Zinger ~ Ottawa, Canada ~ 613-723-5300 ~ vzinger@royallepage.ca

New Year’s Thank You to Flickr Members

Here is a big thank you to the contributing members of Flickr who have made their photographs available for viewing and use.  I have been so lucky to find wonderful photography to include in my articles.  Thank you to those photographers who have knowingly or unknowingly helped me this past year.

HAPPY NEW YEAR!

Merry Christmas – Love Hoover and Tulipe

This is just typical – the weather gets cold and she takes us to the groomer’s and has all of our hair removed.  On top of that she finds these awful headbands that make us look like White West Highland Terrier fools.  Oh well, there is often a treat involved after the humiliation so we endure.  I have the angel on my head and Hoover has the snowman.  He certainly looks like he would prefer to be miles away.  We have enjoyed having her home more this year with her strange real estate hours.  I know she likes all of her clients and helping them look for or sell their homes.  We hope she has even more fun next year.  Maybe she will stop getting us these ghastly headbands.        

HAVE A WONDERFUL HOLIDAY AND A HEALTHY AND HAPPY 2009. 

Ottawa ~ November 11 ~ Lest We Forget

Do Not Call Registry

The Canadian Do Not Call Registry came into effect on September 30, 2008.  You can register your home phone, cell phone and fax numbers to prevent unwanted telemarketing calls.  The website is https://www.lnnte-dncl.gc.ca

On the first couple of days, the website was overloaded with requests.  I recently registered my home number and found it easy to get to the site and fast.  All you do is enter your number and then the code that is provided.  The Do Not Call is effective approximately one month after registering. 

The new legislation allows calls from registered charities, polling organizations and businesses with which you are currently doing business, among others.  If you want these calls to stop, you need to contact each organization individually and ask them to place you on their do not call list.  While they must comply, it will take a few weeks for your request to be activated.

The following website http://www.ioptout.ca was created by a law professor at the University of Ottawa and provides a service where you can create your own Do Not Call List for the companies that are exempt from the Do Not Call registry.  You can choose which companies you don’t want to contact you.  The service, which is FREE, will notify those organizations of your request.

 Credit:  Thank you to my friend, ML, for reminding me about the registry and providing the two links. 

Say Bye-Bye to 40 Year Mortgage Guarantees

MortgagesThere has been significant press around the Federal Minister of Finance’s decision to no longer provide government guarantees to 40 year mortgages.  In addition, the guarantee is not available for 100% financing of a home.  The buyer will be required to provide a minimum of 5%.  This could be borrowed, but it will not become part of the government  guarantee.  These changes will become effective October 15, 2008.

What is Mortgage Insurance?  A government guarantee is actually government backed mortgage insurance.  Mortgage insurance (which is sometimes called mortgage default insurance) is a credit risk management tool that protects mortgage lenders from losses on mortgage loans. If a borrower defaults on a mortgage, and the proceeds from the foreclosure of the property are insufficient to cover the resulting loss, the lender will submit a claim to the mortgage insurer to recover its losses. (from the Department of Finance website)

What is the Impact of a 35 versus 40 year amortization period on a $200,000 Mortgage?  If you cannot get a 40 year mortgage, then 35 year amortization periods continue to be available.  The example Finance uses is:  Reducing amortization from 40 years to 35 years on a mortgage loan of $200,000 with a 6 per cent interest rate results in a $41 increase in a borrower’s monthly payment, but the borrower will save $49,000 in interest payments.

Are there other changes?  Four other changes will be taking place. 

1.  Credit Scores:  “Canadian lenders have not originated many government-backed mortgages for borrowers with low credit scores. To ensure this practice continues, the new framework will establish a credit score floor of 620. There will also be a limited “basket” to provide for exceptions to this rule, recognizing that there are some borrowers with credit scores below 620 that otherwise represent low credit risks.”

2.  Loan Documentation:  The guarantee will now require a minimum loan documentation “standards to ensure that there is evidence of reasonableness of property value and of the borrower’s sources and level of  income.”

3. Interest Only Mortgages will not be covered.

4.  The total debt service ratio (portion of gross income that is spent on debt service and housing-related fixed or essential payments) will be set at a maximum of 45%.

I have included this information to give you a briefing on upcoming changes.  If you need additional information, it is available on the Government of Canada Department of Finance site, with mortgage brokers, and at your financial institutions. 

Before shopping for a new home, shop for your financing.  Know what is available to you.

  

Photo credit:  3D Realty Handshake @ http://www.flickr.com/photos/lumaxart/2136953043/

Valerie Zinger ~ Ottawa, Canada ~ Ph. 613-723-5300 ~ Email vzinger@royallepage.ca

New Identification Requirements for Home Buyers and Sellers in Canada

On June 23, 2008, new federal money laundering and anti-terrorists financing regulations came into effect.  These require real estate agents and brokers (amongst others) to collect and keep personal identification from buyers and sellers. 

REALTOR® have been required to report any suspicious or large cash financial transactions of $10,000 or greater since 2001.  This year the regulations, under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act have been changed to increase the reporting.  Real estate agents and brokers are now required to document personal information and proof of identity of their clients in each and every transaction.  This includes corporations and purchasers in another city, province or country.  If the buyer or seller is not represented by a REALTOR®, the agent for the buyer or seller is required to obtain the personal information and identification of the other party.

What will the real estate agent need for information?  Using a government issued document, such as passport, drivers license or residency card, the agent will record date of birth and occupation.  The law requires the agent to keep the information for a period of five years.

There is a lot of paperwork involved in buying and selling a home.  The forms needed for this information will be part of the package you complete.

For additional information on these and other requirements,  please go to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) or call 1-866-346-8722.

Photo credit:  Dreaming of Diamonds @ http://www.flickr.com/photos/swamibu/1182138940/

Happy Canada Day – July 1, 2008

parliament_4279.jpgIt is a blessing to live in this wonderful country.  I am a proud Canadian.  There is so much to love from sea to sea to sea.   Just once in everyone’s lifetime, it would be wonderful to come to Ottawa and enjoy the day long celebrations.  It makes you shiver to be in the crowd, enjoy the entertainment, see our glamourous Governor General and hear the speeches.  The fireworks are awesome.   It is Canada’s 141st birthday.  This is Canada.  We stand on guard for thee.   

HAPPY BIRTHDAY, CANADA!

Ottawa House Hunting On Sunday

Sunday is Open House Day in Ottawa.

Seek and ye shall find.   There are several sources for you to find out where Open Houses will occur.   The Ottawa Real Estate Board site provides a list of all scheduled open houses for homes listed through MLS®.  This table can be sorted by each category so that you can narrow your Sunday Shopping by price, location, street, etc.  Other sources include the Saturday edition of the Ottawa Citizen and listings in the Real Estate Guide, a free publication available in many real estate offices and 700 locations around the city.  While most Open Houses are held on Sunday from 2:00 – 4:00 PM, there are a few held on Saturdays and some that are held at other times on Sunday.  Look for the listing and for the signs in your shopping area.

Knock and the door shall be opened.  This is your opportunity to view an number of homes in a two hour period by yourself or with me, your REALTOR®.  Most often, clients will view homes on their own and return for a more thorough look with their REALTOR®.  It is amazing how many homes you can see in 2 hours.  If you are going for the first impression, the real “Can I live here?” inspection comes later.  Make notes on those places you want to see again.

Ask and it shall be given.  The hosting REALTOR® most often represents the seller.  He or she is there to help answer your questions about the house, the local market and community.  You can buy directly from this REALTOR®, if you do not have your own.  If you do not have a REALTOR® (which should be me, now that you have seen my website and know a bit about me), going to Open Houses provides you with an opportunity to meet a number of people and decide who you would like to represent you in buying a house, selling your current home or both.  Ask me for my business card and we can set up an appointment.

I encourage you to view Open Houses.

Photo credit:  door knocker @ http://www.flickr.com/photos/robinelaine/41695199/

 Valerie Zinger ~ Ph. 613-723-5300 ~ vzinger@royallepage.ca

 

The Home Inspector’s April Fools Joke

On April 1, I was with a Buyer and the house inspector looking over a property that had a condition on it for inspection.  During the inspection, the house inspector looked out the basement window.  Both the Buyer and I had already looked out the same window during a previous visit but the snow was so deep it was impossible to see anything.  We were not expecting any problems as the house was in very good condition. 

As the inspector raised the blinds and looked out he said in a shocked voice ”Oh my god, this is not good.”   I looked at the Buyer and the Buyer looked back at me in horror.  The perfect house was not so good? The inspector then turned to us with a big smile and said “April Fools!” 

I think you can only get away with doing that one day a year and with a Buyer that has no heart problems and a good sense of humour.  It was a good joke and we all laughed, especially as I had already pulled one on the Buyer on the way to the inspection when I had said that the inspection was cancelled and the Sellers were not letting anyone in the house. 

BE CAREFUL ON APRIL FOOLS DAY

REALTORS® AND INSPECTORS HAVE A WEIRD SENSE OF HUMOUR

Valerie Zinger ~ Ph 613-723-5300 ~ Email vzinger@royallepage.ca

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