My Cashflow House

Although the Town of Wasaga Beach did not become official until January of 1974, its stature as the longest fresh water beach in the world has continually attracted both permanent and seasonal residents, particularly from neighboring Toronto. But, the amount of permanent townspeople has risen consistently — from 12,419 in 2001 to 15,029 in 2006, when the last census was undertaken.

Current population figures continue to rise, making Wasaga Beach one of the most rapidly growing communities in Canada. The amount of sales and the extent of Wasaga Beach real estate sold is climbing substantially — particularly since 2009 — and new inhabitants are constructing houses as the demand for more seasonal structures is increasing, and cottages and recreational properties are popping up along the popular beach front.

Locals and tourists alike are drawn to Wasaga Beach by the the fourteen kilometers of family friendly sandy open beaches that include the Wasaga Beach Provincial Park, which was awarded the prestigious Blue Flag designation for its endeavors to manage Wasaga’s shoreline according to international environmental standards. During the summer, locals and vacationers alike enjoy sunbathing and sports such as frisbee and jogging along the sandy beaches that are numbered 1-6 — with 1 and 2 being the most well-liked. During the winter, the same stretch of beach is a popular spot for winter sports enthusiasts who come to snowmobile and cross country ski along the well maintained trails.

Although a major fire demolished seventy percent of the main drag, restaurants and apartments — as well as the pedestrian mall — on November 30, 2007, Wasaga Beach growth has not been deterred. Instead, the area is experiencing a massive development boom with fabrication currently taking place on a contemporary style beach front area with a plaza, eateries, and an indoor/outdoor theme park attached to a monorail. To meet the demand of the burgeoning area, the local transit service, Georgian Coach Lines, has had to expand their routes twice since 2008 and offer service daily from 7AM to 7PM on an east-west route through the town.

The growing availability of amenities and products in Wasaga Beach has aided in pushing home sales up 65 percent in the first part of 2010 when compared to the same time last year. The month of March 2010 saw a whopping 50 percent increase that also had a positive affect on the adjacent Collingwood real estate sector. A large number of the recent sales were in the 350K to 500K area, which signifies a 172 percent hike for the Greater Toronto Area over the average value of residential real estate, which typically runs around 300K. Although undoubtedly seasonal buyers account for a large portion of the growth, it also appears to be because the high-end estates in Wasaga Beach are becoming a popular retirement choice for well-to-do residents. But no doubt the overall attraction of the Georgian Triangle lifestyle will keep attracting the interest in a broad range of potential purchasers who are lured in by the rural beauty of Wasaga Beach, but enjoy the advantage of having the amenities of Toronto within a a short drive away.

Whether going to Australia to study, work or indeed reside in the country, ever since the late 1990’s the country has seen an significant increase in the amount of people coming to the country every year The amazing deserts, geographical formations, tropical rainforests, beautiful beaches, and relatively minimal, yet diverse, population, all these are very attractive for potential investors and migrants.

The Australian Government also allows housing and other investment opportunities to foreign investors and migrants So with a vast land and less population density, there is so much space to build – either for renting or selling.

Being a continent in itself, and known as one of the world’s strongest economies, Australia is known as a great investment destination. It is indeed a good investment arena, owing partially to the wave of migration that is still ongoing and gaining ground, just like in countries like Canada and New Zealand.

Like allot of rich countries, property in Australia is prime and expensive in the main cities. If you are a overseas buyer, and not a permanent resident of Australia, then you are still able to buy in the country as long as your planned investment is first agreed for sale by the Foreign Investment Review Board (FIRB).

Because the country is generally known to be a rugged terrain, the property investment reminder, which is the approval from the FIRB, is your protection from future problems. There could be unpleasant problems to deal with due to extreme changing weather conditions and insect infestation, both of which affect a building’s shape whether being built or for resale; or of a land’s viability in the future. FIRB ensures in its agreement that the real estates provision is solid and substantial to both parties.

Key areas such as Brisbane, Perth, Canberra, Melbourne and the Gold Coast (in no particular order) are a good investment if you have a fair amount of money to put down. Like many countries around the globe properties close to important amenities like the commercial and business area’s always command a high financial price tag.

However, as a bit of advice, lot’s of experienced investors now understand the “going green” idea. As environmental issues proliferate everywhere else, more people are encouraging themselves to commute using the public transportation, rather than filling their cars. So a property near to public commute gateway will be increasing its value yearly.You will also see a double in rewards if your property caters for foreign visitors and is situated near to public transport. Consider Canberra, Australia’s capital city, with no waterview but backed by a healthy infrastructure. A healthy infrastructure for Canberra means healthy investment prospects knowing that the needs of the targeted demographic in the population will have no problems availing of the basic services and necessities of everyday life. Over the the past twenty years or so, property prices in this city have increased and with more room for growth.

For more information and resources on hope island real estate, hope island homes and hope island property please contact the specialists today. We have a wide range of property to suit all tastes.

The Canadian housing market exhibited a favorable upward progression in 2010.Investors recognized the 10 percent surge in Canadian housing sales as a mark of recovery in the sector. Expert research indicates satisfactory growth across the country. Vancouver and Toronto demonstrated a significant rise in house sales with an increase of 20 percent.Prices fluctuate in most parts of the country, since the recession, while others continue to rise.

Since 2009, more Canadians purchased houses. The earlier part of 2010 also demonstrated growth because of low finance rates and reasonable values. Expect increases in mortgage rates as home sales increase and the sector normalizes in the future.surges in finance rates will moderate growth.

First quarter surveys exhibit more than an 11 percent surge in bungalow style properties in Canada and a 13 percent increase in Toronto. Vancouver saw close to a 22 percent climb in bungalow sales. Average bungalow prices for first quarter of 2010 registered about $329,200 for all of Canada, $460,000 for the Toronto area, and $906,000 for Vancouver, according to Royal LePage Real Estate Services. Also experiencing an increase in property values is Durham Region real estate that is an assembly of a few different towns.

Average two storey property prices for Canada, Toronto, and Vancouver were $355,000, $560,000, and $988,000 respectively. condo values registered the most affordable propertys on the sector.

In the country, the average price surged $230,000. Condominium prices averaged $317,000 in Toronto, and $222,000 in Montreal.Toronto and Vancouver housing prices register higher on average than any other sector in Canada. Higher values did not limit house sales in Toronto.Montreal’s property sales remain stable throughout the economic downturn.

Other sectors such as Victoria and Ontario exhibit similar growth. Both markets demonstrated an surge of 11 percent in the first quarter.Sectors like St. John’s and New Brunswick are seeing 16 percent or better growth increases. Meanwhile, parts such as Saskatoon experienced an awesome 28 percent climb in property sales in the first quarter.

First quarter advancement is the trend in most sectors of the Canadian real estate sector. First quarter growth may or may not indicate the advancement patterns for the rest of the year.

New financing requirements will come into effect in Ontario and British Columbia later in 2010.In anticipation of an increase in finance rates and taxes, investors are purchasing homes before the increase occurs. Warm weather may also facilitate sales as most people prefer to search for homes in nicer weather.Investors can expect a raise in interest rates and home values to slow growth after the laws comes into effect.

Property purchases are encouraged before the laws take effect.Experts encourage buying because they cannot see when property prices or finance rates will be this low again. Surprised by the recovery, experts recommended finance rate hikes to stabilize the market.

Over 250 Canadian communities are analyzed by Royal LePage Real Estate Services. A lot of the information obtained in this piece relating to progression analysis originated from one of these documents.

Whether you are studying, working, travelling or deciding to settle in Australia, it is an attractive destination, with gorgeous beaches, geographical formations, tropical rainforests and minimal diverse population.

More, and more people visit Australia every year and the country now boasts one of the strongest economies in the world. Like its neighbouring countries, such as New Zealand and Canada, Australia is also a good investment arena. Tourism is one of the key industries, with people from all over the globe, visiting the country all year round.

Major cities such as Canberra, Melbourne, Sydney and Perth see the highest property prices, however, as you move out, suburb by suburb, prices decrease and a good investment can still be found. Tourism is on the increase, so investing in property associated with the tourism industry will not only reward you with a rental income but also see a good return on your investment only after a few years.

Purchasing real estate for foreigners is relatively simple, however, permission from the FIRB (Foreign Investment Review Board) must first be received and this can take up to six to eight weeks.

Over the last twenty years or so years there has been a substantial rise in buyers investing in more rural properties, which have much lower price tags, but are relatively near a public commute gateway. This type of real estate is also becoming more popular with tourists. A substantial deposit will be needed if you are looking at investing in main cities. As in most other countries, real estate in main areas like this also come with a much higher price tag.

Property prices, throughout Australia, have remained stable, even throughout the global economic crisis, and experienced investors are making the most from cheaper real estate prices in the neighbouring suburbs. Thanks to strict Government lending rules, repossessions have been kept to a minimum, making Australia a good investment destination for many an investor.

If you would like more information or resources on the Australian Property Market, please click here

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Foreigners interested in buying property abroad in a market that appears to be well positioned to withstand the current downturn and to stage a solid bounce back once the economy improves may find a good investment potential in Canadian commercial real estate. The market for commercial real estate in Canada has performed exceptionally well in the current downturn, which has boosted vacancy rates to multi-year highs throughout the world, especially in the United States. At the same time, rents on commercial real estate investments have declined substantially, prompting owners of certain types or commercial properties to offer various rent discounts and incentives. Therefore, in most economies, commercial real estate is in for an extended downturn that will slash income flows and returns for many investors. Yet, Canadian commercial property investments looks poised to outperform the property investments in most developed nations abroad. REMA Commercial properties specialist

Unlike in the United States, rents in the Canadian commercial real estate market have remained stable because vacancy rates have been relatively low. Office vacancy rates, for instance, have increased to about 6 per cent, which is well below vacancy rates reached in previous cycles. In fact, there are even some localities, such as Ottawa, which are bucking the trend. In addition, Canadian vacancy rates are way lower than those in some other developed countries, most notably the United States. The low supply of new commercial properties in the market has kept absorption levels high and vacancies on Canadian commercial real estate investments low. This supports the good outlook for rents on investments in commercial real estate in Canada, especially in comparison to investments in other markets in the world. Stable rental income flows should thus appeal to foreign commercial property investors interested in buying property abroad.

Potential investors in Canada’s commercial real estate should also consider that the current downturn in the market in most likely to be less pronounced and shorter than that in most other nations abroad. The economic recession in Canada will likely end in the second half of this year. An imminent rebound in the Canadian economy will take place sooner than in other economies, thereby boosting prospects for a shorter cycle in commercial real estate. As a result, utilization rates for vacant commercial properties in Canada should improve sooner, helping the market stabilize. Because of local market oversupply issues and exposures to severely bruised industries, such as the financial services industry, Toronto and Calgary may see an extended slump. But, as property prices decline, even the substantial downturns in some local commercial real estate markets in Canada may offer opportunities for international property investors to buy cheap properties with a major earning potential.

Commercial real estate market in Canada in the current cycle should also turn around much quicker than in previous cycles because this time the Canadian commercial real estate market does not suffer from the excessive supply of commercial properties. Therefore, the market rebound is expected to happen within two years, which is only a half of the time it usually takes for commercial real estate markets to stage a comeback from recession.

Even though the number of commercial property purchase transactions has dropped precipitously over the past several quarters, many investors interested in buying commercial real estate abroad, will likely flock to Canada’s commercial real estate market seeking good investment opportunities for the economic expansion that lingers ahead. Canada’s commercial real estate traditionally offers strong income opportunities to foreign investors that seek to make an investment in commercial real estate in the markets characterized by long-term stability. Jimco International Overseas properties specialist

Ever since the late 1990’s, Australia has been very upfront in inviting people from all over the globe to come for their work, studies, and in many cases – finally settle and reside permanently. The fantastic deserts, geographical formations, tropical rainforests, beautiful beaches, and relatively minimal, yet diverse population, all these make are very attractive for potential investors and migrants.

Recognized as one of the world’s strongest economies, Australia, being a continent itself, is thought of as a great investment destination.Just like in New Zealand and Canada, Australia, is indeed a good investment arena, partially owing to the wave of migration that is ongoing and gaining ground.

There is so much room to build with vast areas of open land and the Australian government allowing access to housing and other property investments for migrants.

Investing in the capital cities of states and territories, like any other rich country, is {prime and expensive. If you do not live in Australia and are not an Australian citizen then you may still go ahead and invest so long as your planned investment is agree by the Foreign Investment Board (FIRB).}

As Australia is generally considered to be a rugged terrain, the real estate investment reminder, which is the approval from the FIRB, is your protection from future problems. There could be unpleasant problems to deal with due to extreme changing weather conditions and insect infestation, both of which affect a building’s shape whether being built or for resale; or of a land’s viability in the future. FIRB ensures in its agreement that the property’s provision is substantial and solid to both parties.

If you have a sizeable amount of money to start out your real estate investment, it is good to note that the prime areas are in Sydney, Melbourne, Perth, Brisbane, Canberra, and the Gold Coast (in no particular order). Like most cities around the world, real estate close to popular amenities like the business and commercial district always command a high financial price tag.

However, as a word of advice, many experienced investors now understand the “going green” concept. As environmental issues proliferate everywhere else, more people are encouraging themselves to commute using the public transportation, rather than using their cars. So real estate near to public commute gateway will be increasing its value yearly. Further, if the property caters to foreign visitors, being close to access of public transportation doubles the rewards.

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Consider Canberra, the country’s capital city, with no waterview but backed by a healthy infrastructure. Over the last few years, property prices in this city has increased and with more room for growth. A healthy infrastructure for Canberra means attractive investment prospects knowing that the needs of the targeted demographic in the population will have no problems availing of the basic services and necessities of everyday life.

For more resources on buying and selling real estate in Australia please contact us today.

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Contrary to what you may think, you don’t manage your credit applications and payments in a vacuum. Your credit behavior (as some have learned the hard way) is tracked by credit bureaus such as Equifax Canada and TransUnion of Canada.

This information is tabulated, and then you are assigned a credit rating. It’s important for you to maintain as high a rating as possible. The following information shows you how you can be sure to earn a good score, and why it’s so important to do so.Lenders Have Access To This Information.

Think about it. When you decide to apply for a mortgage for a home purchase, or a hefty loan for home renovation – don’t you want A+ right up there beside your good name?Your Good Name Is Really What It’s All About.

In the financial world, your credit profile is your reputation. If you have a good record, it means smooth sailing ahead for you. If your record isn’t all it should be, you might be in for a bit of rough weather when it comes to acquiring the monies you need — at the interest rates you want.Your Payment History.

Credit card debt — is one of the most important factors considered when your score is being tabulated. Any missed, late, or neglected payments are duly noted. Not only does a prompt payment history buff your credit image — it saves you money in interest, and assures a quicker retiring of that debt too. Timeliness Of Payments.

Actual amount of payments, the state of your credit card balances versus credit available, the number of cards you own, the frequency of your requests for more credit – These are just some of the tidbits of personal financial information that make up your credit profile. This comprehensive history is compiled to show lenders how reliable a debt risk you are. To put it simply they want to know whether or not you are credit worthy. Your credit score is established with a mathematical formula.

Various factors are weighed and balanced and given a certain percentage value towards your final score. Credit bureaus also take into consideration — in addition to factors already mentioned — your existing debt burden, your actual and potential income (remember you do give out these details when you apply for credit), your debt to income ratio, your past financial problems (any bankruptcy or foreclosure remains a long time on record), your job stability -

essentially any piece of public information that helps build an accurate as possible risk assessment of you as debtor.Your Credit Rating Is A Fluid And An Ever-Changing Thing.

It is dependent upon your present financial circumstances and any actions you make. The credit bureaus always follow your money trail. Because the formation of your profile is an on going thing, it’s vital for you to consistently practice reliable and responsible debt handling. The good news? The ever-changing quality of your credit rating allows you to continually aim for a higher score. Think of your rating — not as a burden — but as a challenge and an opportunity.Infrequent Requests For Additional Credit?

That’s a really good sign to a lender. Keep in mind that mortgage and loan shopping won’t impact you negatively if it’s done in a concentrated time period. The credit bureaus interpret this flurry of activity positively — as long as it doesn’t occur too frequently. You want to look savvy, not desperate.How Much Plastic Is Too Much?

Too many credit cards red flag you to potential lenders. Limit your cards to three or four, and try to maintain longtime use of at least one card. This is a key way to build up an excellent credit history. The amount of credit you use, versus credit available, is really telling too. Keep your balances low.It’s Your Right To Pull Up Your Credit Report Profile.

This is something that is in your interest to do so. (You can do this online at www.equifax.com). Experts advise you to check it out at least once a year. Doing so gives you the opportunity to correct any errors or misinformation that may be there. Practice reliable and responsible debt management.

Then, when you do actually need money for a major undertaking (like the purchase of a home), your credit rating will be an asset, not a liability.

Real estate has been an outstanding investment in most parts of Canada in the past few years. Home valuations are continuing to rise and have broken through the peak of their 1989 “bubble” in many areas of the country. That’s good news for Canada’s 7.5 million home owners, who are enjoying an average increase of $43,000 in real estate wealth since the upward trend took hold in 1998.

The hot housing market is being fuelled by mortgage rates which are the lowest they’ve been in almost 50 years. First-time home buyers are finding the rates attractive, and home buyers are lining up to purchase their first home or to upgrade to their dream homes. Housing statistics have been capturing headlines for months and the boom is noticeable on key economic indicators.

But the news isn’t just about rising valuations or Canadians moving into their new homes. Quietly in the background, there is a significant trend to refinancing. Canadians who have built up the equity in their home over the last few years are borrowing against that equity in record numbers. According to a report from a major bank, since 2001, Canadian households have taken out approximately $20 billion in cash out of their homes through mortgage refinancing and home equity loans.

We might thank the Ontario mortgage industry for the surprising resilience of the North American economy. In the past two years, the North American economy has endured numerous economic fallouts but consumer confidence remains reasonably strong – at least partly because homeowners have seen some of their losses offset by an increase in their real estate wealth. We find that we are sitting on (and sleeping in) the best-performing investment we own. And even if they have no plans to sell, homeowners have found that the return on their investment is still as good as cash in the bank.

That cash has been a key economic stimulus both here and in the U.S., where the trend is even more pronounced. As Canadians look beyond the view of a home as primarily shelter, mortgages become a valuable resource – and homeowners aren’t necessarily waiting for renewal time to cash out some of their gains.

So where is the money going? The equity being pulled out is often being used to pay down other more expensive debt. Credit card interest rates are shockingly high and – as a nation – our credit card and other consumer debt is continuing to grow. And much of the money is being used for increased spending. There has never been a better time to borrow against home equity to build the kitchen of your dreams, add a new wing, embark on the landscaping project you’ve wanted for years, enjoy the vacation you’ve always dreamed of, or help with the high cost of post secondary education. However, as always, never let your enthusiasm for the opportunity to spend get in the way of good common sense about debt management.

“Lower than prime,” you heard someone say. Like most Canadians, you were probably first skeptical and then confused. We tend to think of the prime lending rate as the invisible “floor” of lending rates. The very best customers can get very close to that floor. It is theoretically possible, we reason, to actually be ON the floor, but not possible to be below it.

Nevertheless, Canadian lenders offer mortgages at prime minus 0.5% to even minus 0.7%. So the floor isn’t the lowest you can go. There’s something under the “floor”. The rate known as “prime” has been the popular benchmark for lending in Canada. When business reporters talk about interest rate movement, they usually talk about what’s happening with prime. But there are other benchmarks in money rates, though they are typically for use by professional money managers. The most significant of these is the Banker’s Acceptance rate.

While “prime” is a set rate which is offered to a lender’s best customers, the Banker’s Acceptance is the rate which financial institutions use to lend money to one another. And it’s typically well below the prime rate. Look for the “Money Rates”section of your favourite newspaper, and you can compare Prime with the Banker’s

Acceptance rates for yourself. “Interesting,” you think, “but why does it matter?” Well, as new lending institutions begin to offer a slate of innovative new loan options, a new mortgage has emerged that is based on the Banker’s Acceptance rate: offering a mortgage rate of 1% over the 3-month Banker’s Acceptance.

If you compared the rock-bottom prime-based variable mortgage rate – prime less 0.5% to 0.7% – with the new adjustable BA-based rate, you would find that the BA-based rate would have delivered significant savings over the past several years, as rates were dropping. There are two reasons for this. Firstly, the BA-based rates have historically been considerably lower than prime. Secondly, the prime rate tends to be “stickier” in an environment where rates are falling. Often, the more fluid, market-based BA rates deliver the rate change more quickly.

Any variable- or adjustable-rate Ontario mortgage is an excellent option when interest rates are either dropping or stable. Not surprisingly, they’ve been a very popular choice in the past few years. There are some rumblings now that rates may begin to increase, but flexible-rate mortgages still remain an excellent choice for those looking to save some interest.

As always, you should consult with a mortgage professional to find the mortgage that suits your personal financial needs. An independent mortgage broker can provide you with information on a broad range of mortgage options from a wide variety of lending institutions, so you can compare features and options at a glance.

And remember, it’s worth taking some time to look beyond prime and explore what’s “under the floor” in mortgage options!

Forget everything you thought you knew about the benefits of taking a variable-rate mortgage instead of locking in for the long term.

A new study suggests the security of a five-year mortgage costs little or nothing beyond a riskier variable-rate mortgage, providing you get a jumbo-sized rate discount.

“Interest costs on discounted closed five-year mortgages have been close to, and often lower than, those of variable-rate mortgages since late 1996,” senior Canada Mortgage and Housing Corp. economist Ali Manouchehri writes in the study.

Homeowners have made variable-rate mortgages hugely popular in the past few years in the belief that you can save on interest costs by pegging your mortgage rate to your lender’s prime lending rate. As the prime rises, or as has generally happened in the past few years, fallen, so goes your mortgage rate.

The prime rate at the major banks is now 4.5 per cent, while the posted five-year rate at the big banks is 6.15 per cent. In just one year, the variable-rate choice would save you about $1,700 on monthly payments toward a $150,000 mortgage amortized over 25 years (assuming a level prime rate).

Historically, you would also have saved a lot. The CMHC study shows that five-year mortgages taken out from 1993 through 1998 would have cost anywhere from $50,000 to $5,000 in additional interest paid over the term of the loan (the example is based on a $100,000 mortgage amortized over 25 years).

The flaw with this analysis is that it doesn’t reflect real-world mortgage pricing. These days, very few people take out a mortgage without a sizable discount off the posted rates at major banks.

For that reason, the CMHC’s Mr. Manouchehri decided to compare discounted five-year mortgages with discounted variable-rate mortgages. Incidentally, five years is the most popular term by far for fixed-rate mortgages at about 59 per cent of the total.

The size of the discounts Mr. Manouchehri applied was based on the difference between posted major bank rates and the best deals available from other lenders. For five-year mortgages, he used a discount of 1.25 of a percentage point; for variable-rate mortgages, it was 0.4 of a point off prime.

For five-year mortgages taken out between 1993 and mid-1996, the five-year mortgage was costlier in terms of interest costs. Since then, however, variable-rate mortgages have generally been a little bit more expensive.

Obviously, there’s nothing in this study that decides the fixed-rate versus variable-rate debate once and for all.

In fact, the CMHC study may just confuse anyone who recalls some research done for Manulife Financial back in 2000 by York University finance professor Moshe Milevsky. His research found that the extra interest charged on a five-year mortgage would have cost $20,000 on average between 1950 and 2000 for a $100,000 mortgage amortized over 15 years.

To make some sense of the variable-rate versus five-year question, let’s go back to the CMHC study.

It shows that five-year mortgages, discounted or otherwise, were especially bad choices for a three-year period starting in mid-1993. Rates were high for a while back then, but they subsequently fell.

You were a spectator to these rate declines if you were stuck in a five-year mortgage, while people in variable-rate mortgages would have benefited almost immediately.

It’s a different world now, though. Five-year mortgage rates are close to a 50-year low, which suggests they’re far more likely to rise over their term than fall.

So what’s the best choice here, variable-rate or five-year fixed rate? People who want to pay rock-bottom mortgage rates for as long as possible will probably still want a variable-rate mortgage. Remember, you can lock this sort of mortgage into a fixed term without penalty in most cases.

The case for the five-year term looks almost as strong, though. First, the CMHC study tells us there may not be a significant cost to locking your mortgage in for five years, and you might even save a little over a variable-rate mortgage.

Second, the likelihood of higher rates in the years to come would suggest that this is a good time to lock in.

If you had a variable-rate mortgage discounted to 4 per cent, the prime would have to go up by 0.85 of a percentage point to equal the current five-year rate. That’s not a lot of ground to cover in the span of 12 to 18 months when the economy is doing well.

Arguably, the variable-rate versus fixed-rate debate is all about risks and rewards. Right now, the five-year option offers much less risk, and almost as much reward.