Real Estate

According to the latest article from CMHC, housing starts have picked up the pace and are re-growing.

The seasonally adjusted annual rate of housing starts increased to 150,400 units in August from 134,200 units in July, according to Canada Mortgage and Housing Corporation (CMHC).

“Housing starts are trending higher, reflecting improvements in both the single and multiple segments,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “The improvement in housing starts is consistent with our expectation of a stronger second half for 2009.”

The seasonally adjusted annual rate of urban starts increased by 14.0 percent to in August. Urban multiple starts increased by 23.8 percent, while urban single starts moved up 2.5 percent units in August.

August’s seasonally adjusted annual rate of urban starts increased by 13.8 per cent in Ontario.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

This morning I met with Carole, a single mother, this wonderful lady has been fending for herself from the age of 14. She can be so proud of herself. She came to me, to help her and her 15 year old daughter obtain their dream of home ownership. They are not ready now and won’t be ready for at least 6 months, today they have walked away with a concrete plan so that their dream will become a reality.

If you are thinking of buying a home in the next 6 to 12 months or even longer, now is the time to contact your trusted mortgage agent/broker. Two tips I gave Carole this morning, firstly for her to look at reducing the interest she is paying on her auto loan and credit card. We worked out the reduction in her credit card interest alone would equate to $112 a month – this can be used to pay off her visa card. Secondly to draw up a budget, in order for the budget to be effective, I have suggested that she track her spending for the next month. Once she sees where her money is going she can create a budget that is realistic and at the same time she can eliminate unnecessary spending.

Another point I want to make is regarding credit card payments. Please pay your credit card before the due date. I have seen where clients’ credit scores have been drastically affected, not for a missed payment but a late payment. One client actually paid on the due date however he paid online, which takes 2 to 3 days to get credited to your account. On his credit bureau it showed up as a R2 (which previously used to mean 60 days in arrears). Due to the falling property prices, banks are also moving quicker to foreclosure when a mortgage payment is missed. If you find you are unable to meet your mortgage payments, please contact me so that we can discuss different strategies.

Charmaine Idzerda

Tel: 905.336.5997 or 1.866.824.8057

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Manuela is a full-time real estate professional whose nearly 30 years experience, knowledge and negotiating savvy help her in doing everything possible to help her clients achieve their real estate and home ownership goals.

Manuela started her real estate career in Europe. She has been selling real estate in the Oakville area since 1991, and has consistently achieved award winning results. She is in the top 3% of all Prudential Real Estate Professionals in North America.

Manuela’s passion to succeed and commitment to her client’s needs, combined with sharp negotiation skills, drive her to constantly exceed client’s expectations, bringing them to wholeheartedly referring Manuela to their family and friends.

Website: www.manuela.ca www.alexx.ca

Direct: 416.464.8624
Office: 905.338.6550
Prudential Town Centre Realty Inc, Brokerage
280 North Service Road West, Oakville ON L6M 2S2