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Four Questions to Ask Your Mortgage Professional – By Barb Eglauer – one of our preferred service providers

https://uandimortgage.com/

Four Questions to Ask Your Mortgage Professional

Whether you’re a first-time homebuyer, a move-up buyer, buying an investment property or if you’re refinancing to consolidate debt, renovate or invest, these are some of the questions to ask your mortgage professional:

1. How much can I afford?

Usually people pick their homes before they organize their financing, but it makes more sense to do it the other way around. Determine what monthly payment you would be comfortable with, how much financing you qualify for and what money you have available for a down payment before delving into your house hunting. 

2. What type of mortgage should I consider?

Are you someone who likes a predictable payment or are you comfortable taking some risk to get a lower rate?  A fixed interest rate is set when you sign for the mortgage; it won’t change for the entire term. A variable rate, however, will change according to market interest rates, which may cause concern for some. While market fluctuations are hard to predict, we can give you historical data and economic information to help you make this decision. We will also determine your tolerance for risk and advise you on the best option based on your financial situation and needs. Also, the type of mortgage may be determined on the product you qualify for, based on the stress test. 

3. How much do I need for a down payment?

Many homebuyers assume they need to make a large down payment in order to get the best mortgage rate, but that’s not always the case. Mortgage insurance products allow buyers to put as little as 5% down and still get a competitive mortgage rate. With the new mortgage stress test qualifying rules, the rates for an insured mortgage may be better than for a conventional mortgage because mortgage default insurance lowers the lender’s risk and cost. 

4. What should I take into account for the future?

Everyone is excited about buying a new home, but not everyone is thinking about what that means in the long term.  What you can afford today might not be the most practical choice in years to come. What if your job situation changes or interest rates rise or if you’re planning a family? Will you still be able to make payments when you factor in the costs of parental leave and daycare?  I will take all these factors into account when negotiating your mortgage rate and options with lenders.

How I can help

I have access to a broad spectrum of lenders from Prime to Private to meet your unique needs.

I realize that every individual has a unique situation. I will sit with you and go through all your possible options and outcomes so you can make an informed decision.

Christmas Display Contest 2019

Ho Ho Ho! It’s time for our Annual Christmas Display Contest in Hidden Valley & Hanson Ranch…. We are so pleased to announce that we are able to offer ONE GRAND PRIZE of $1,500 this year! We also have a fabulous lineup of judges again this year. See below for the guidelines and rules! We hope to see your displays up and glowing on the evening of Wednesday December 18th, 2019

Robyn Moser is an independent member/broker with Re/Max Realty Professionals

Christmas Display Contest 2019

Official Rules & Guidelines

Wednesday, December 18th, 2019 – 5pm-10pm

This year we will be awarding a grand prize of $1500!!

1. Must be a resident of Hidden Valley or Hanson Ranch.

2. No registration necessary.

3. Single family, detached, attached, condominiums, townhouses and any multi-family residences are eligible to win.

4. Businesses are exempt from participating.

5. Robyn Moser & Associates employees and their immediate families are not eligible to participate.

6. Anyone caught destroying or vandalizing any displays will be immediately disqualified, including their place of residence, from the contest.

7. Robyn Moser & Associates employees cannot and will not judge the contest, nor will their opinions influence any of the judging.

8. Third party judges will be appointed – minimum of three.

9. Judges will not receive any monetary payment for their participation in this event.

10. Judges will be publicly announced via Robyn Moser & Associates social media page no later than ONE WEEK prior to the contest

11. Judging will commence at approximately 5:00 pm on Wednesday December 18, 2017

12. Lights must be turned on prior to contest beginning or your home will not be judged.

13. There will be one grand prize winner awarded.

14. No resident may win the first prize winner two years consecutively.

15. Second and third place winners from the previous years are still eligible to win.

16. Winner will be notified immediately after judging is complete. Be aware this may be as late as 11:00pm.

17. Winners must agree to display a Winner sign on their front lawn declaring them as the winner for a period of three weeks from the contest date.

18. Winners must agree to have their address and a photo of their house posted on the Robyn Moser & Associates website, blog & all social media accounts.

19. Judging results are final – no re-calculations will be done.

Weekly Calgary Real Estate Update November 4/2019

Weekly Calgary Real Estate Update November 4/2019

7242 homes for sale in metro Calgary (down 344)

1340 homes sold in the last 30 days (down 69)

5.40 months worth of inventory (up 0.02)

18.50% of the homes statistically to sell in the next 30 days (down 0.07%)

Market Conditions: Buyers

Average List Price: $473,964 (up $2,625)

Average Sale Price: $455,712 (up $2,271)

Average days on market: 59 (up 2)

Average list to sale price ratio : 96.11% (down 0.23)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase

Weekly Calgary Real Estate Update October 28/2019

Weekly Calgary Real Estate Update October 28/2019

7586 homes for sale in metro Calgary (down 47)

1409 homes sold in the last 30 days (up 5)

5.38 months worth of inventory (down 0.05)

18.57% of the homes statistically to sell in the next 30 days (up 0.18%)

Market Conditions: Buyers

Average List Price: $471,339 (up $473)

Average Sale Price: $453,441 (up $63)

Average days on market: 57 (down 2)

Average list to sale price ratio : 96.34% (down 0.04)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase

One Of Our Recommended Mortgage Specialists – Barb Eglauer on Debt and Debt Settlement Services

https://uandimortgage.com/

It seems as if the debt-to-income ratio is always in the headlines. Just recently it was reported that the ratio edged down to 177.1% in the second quarter of this year, from 177.5% between January and March. The number means Canadians owe $1.77 in debt – including mortgages and consumer debt like credit cards – for every dollar of disposable income. In 2016, the ratio was sitting at 167.3% and increased each year until October 2018, when it started to come down, thanks to both a slowdown in borrowing and healthy income growth.

While increases worry some policy-makers, studies have shown that consumers are able to pay their debts reliably.  Low interest rates on mortgages, for example, have allowed consumers to pay down more of their mortgage principal, with payments split almost evenly between interest and principal. 

But for some, the debt load can be unmanageable and then the search is on for a solution. Many are familiar with advertising from Debt Settlement services that offer to settle a consumer’s outstanding debt, for a fee. If you’re considering these options, make sure to do your research and find a reputable company to work with. 

There are also not-for profit credit counselling services that offer Debt Management and Consolidation Programs who can help you negotiate a repayment plan of 100% of your outstanding debts through something called a debt management plan. They cannot offer a debt settlement because they do not settle your debts for less than you owe. If you only have a few debts, a debt management program may be a good option. 

For a larger debt loads where there is equity availably in your property, debt consolidation may be an option. Mortgage professionals may be able to consolidate debt with a refinance. 

When arranging a consolidation mortgage loan the amount of the mortgage principal may be increased to pay out the total amount of debt. This becomes part of the mortgage commitment and a condition of the mortgage loan. On closing, your lawyer will disburse the funds to your creditors and register the new mortgage. 

What you need to know

Refinances

A refinance alters the terms and conditions of your mortgage. For this purpose, you are increasing the amount of your mortgage to pay off debt. Your mortgage payment may or may not increase, depending on a number of factors, and you may incur a penalty to break your existing mortgage if you are refinancing midterm. Depending on your current mortgage, you could be paying off the refinanced debt at a much lower interest rate, which could save you thousands of dollars in interest in the long run.  

Renewals

It’s always a good idea to review your mortgage with a mortgage professional, not only when you’re considering consolidating debt. A mortgage professional can shop the rates for you and get you the best deal, tailored to your particular situation. Then, if you decide to switch lenders, there are no penalties at renewal time.

One of these options may be the perfect solution if you know someone who may be struggling with debt please have them call me.

https://www.tmgplayer.com/brown/default.asp?player=4043

Use Your Water Meter To Check for Leaks As Part Of Your Home Maintenance

  1. Turn off all taps and water using appliances in your home
  2. Check the water indicator- this could be a gear, triangle or needle on the face of the meter. If it keeps turning you have a leak in your house.
  3. Check your toilet, taps, humidifier, hot water heater, water softener and other water using devices for leaks.
  4. Visit calgary.ca/waterguide to learn more about addressing leaks.

Save water and avoid high bills by fixing water leaks.

City Of Calgary’s Fall Checklist

City Of Calgary’s Fall checklist (taken from City of Calgary’s website)for more information head to Calgary.ca/waterguide

Lawn and yard

  • See our watering 101 guides to find out when to stop watering plants, shrubs and trees – Mature Landscaping or New Landscaping.
  • Consult our YardSmart plant lists to make any seasonal additions to your garden like bulbs.
  • Clean debris and dead annuals from plant beds, and cut back perennials.
  • Place mulch around perennials and trees to protect them from frost.
  • Prune your trees and shrubs.
  • Let your grass grow into dormancy – stop watering and stop cutting.
  • Turn off the outdoor water supply to avoid winter leaks.
  • Properly winterize and turn off your irrigation system to avoid leaks.
  • Clean debris out of your gutters.
  • Clean and repair downspouts, and direct stormwater away from your house, ideally towards your garden.
  • Clean and properly winterize your rain barrel.

Inside your home

  • Still have an old, high-flow toilet? Consider replacing it with a low-flow WaterSense approved model to save money and water.
  • Check your sump pump for leaks or damage.
  • Clean out the backflow valve located in your basement.
  • Use your water meter ​to check for leaks inside your home every six months as part of regular home maintenance.
  • Check your toilets, taps, humidifier, hot water heater, water softener and other water using devices for leaks.
  • Service your hot water heater, water softener and humidifier.
  • Check your home insurance policy before deciding to turn your water off, and confirm how often someone needs to check on your home while you’re away.

Weekly Calgary Real Estate Update October 21/2019

Weekly Calgary Real Estate Update October 21/2019

7633 homes for sale in metro Calgary (down 17)

1404 homes sold in the last 30 days (down 47)

5.43 months worth of inventory (up 0.16)

18.39% of the homes statistically to sell in the next 30 days (down 0.58%)

Market Conditions: Buyers

Average List Price: $470,866 (down $9,557)

Average Sale Price: $453,378 (down $9,164)

Average days on market: 59 (same)

Average list to sale price ratio : 96.38% (down 0.08)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase



Weekly Calgary Real Estate Update October 15/2019

Weekly Calgary Real Estate Update October 15/2019

7650 homes for sale in metro Calgary (down 35)

1451 homes sold in the last 30 days (down 15)

5.27 months worth of inventory (up 0.03)

18.97% of the homes statistically to sell in the next 30 days (down 0.12%)

Market Conditions: Buyers

Average List Price: $480,423 (up $5,955)

Average Sale Price: $462,542 (up $5,565)

Average days on market: 59 (same)

Average list to sale price ratio : 96.46% (down 0.12)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase

Weekly Calgary Real Estate Update October 7/2019

Weekly Calgary Real Estate Update October 7/2019

7685 homes for sale in metro Calgary (down 370)

1466 homes sold in the last 30 days (up 85)

5.24 months worth of inventory (down 0.59)

19.08% of the homes statistically to sell in the next 30 days (up 1.94%)

Market Conditions: Buyers

Average List Price: $474,468 (down $2,010)

Average Sale Price: $456,977 (down $2,496)

Average days on market: 59 down 1)

Average list to sale price ratio : 96.58% (up 0.03)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase