Sell Your House Privately - Keep More $$$ and Pay Less in Real Estate Commissions

Approximately 1 in 4 Canadians are now selling their homes privately. Let my office, via http://www.propertyshop.ca/, assist in selling your home privately. You'll save thousands in real estate commissions and you can get my office in at the ground floor!

With the proposed new Harmonized Sales Tax being introduced in the next few months, sellers will have to pay an ADDITIONAL 8% PST on top of the 5% GST they already pay on realtors commissions.

On a $400,000 home at 5% real estate commission and 13% HST, sellers will be paying $22,600 -- and since you will ultimately need a lawyer's involvement, why not retain my office from the beginning to help you sell your real estate at considerable savings!

I can save you $1,000s! Visit http://www.propertyshop.ca/ for more details on selling privately!

Buying or Selling, through an agent or by yourself (http://www.propertyshop.ca/), my office can assist you with your real estate transactions as well as your Wills & Estate and Corporate needs!

Harder to Buy Homes / Mortgage Rules Tightened

It's going to get even tougher to buy homes...especially if you're buying for speculative purposes!

According to our Finance Minister, Jim Flaherty, some of the changes that may be implemented are as follows:

- If you need a CMHC mortgage to purchase, you will have to effectively pass a debt affordability test in order to qualify for a CMHC mortgage.

- Amortization rates are going to be maxxed out at 30 years (instead of the currently held 35 year limit, which itself was reduced from the 40 year limit).

- All borrowers will have to meet standards for a five-year fixed rate mortgage – even if they pick a mortgage for a shorter term or with a variable rate.

- The limit will be lowered for the maximum amount that Canadians can withdraw when refinancing their existing mortgages. It will be reduced to 90% of the value of their homes (from the current limit of 95%).

- The down payment for investment homes (ie: homes that you will not be making your primary place of residence, but renting out, etc.) will be 20%.

The market remains HOT!

Buying or Selling, through an agent or by yourself (http://www.propertyshop.ca/), my office can assist you with your real estate transactions as well as your Wills & Estate and Corporate needs!