Cathie Szmon St. Marys Ontario Real Estate

Open House in St. Marys on Saturday

Cathie Szmon — Fri, 11 May 2012 14:39:00 GMT

St. Marys, Perth County - We invite everyone to visit our open house at 30 Homefield Court on May 12 from 10:30 AM to 12:00 PM.

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Open House in St. Marys on Saturday

Cathie Szmon — Mon, 30 Apr 2012 10:30:00 GMT

St. Marys, Perth County - We invite everyone to visit our open house at 30 Homefield Court on May 5 from 10:30 AM to 12:00 PM.

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Open House in St. Marys on Saturday

Cathie Szmon — Sat, 28 Apr 2012 01:44:00 GMT

St. Marys, Perth County - We invite everyone to visit our open house at 30 Homefield Court on April 28 from 10:00 AM to 4:00 PM.

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Stratford & Area Builders Association Parade of Homes Fri Apr 27th and Sat Apr 28th

Cathie Szmon — Thu, 26 Apr 2012 01:20:00 GMT

Price Reduced on 529 Queen St E in St. Marys

Cathie Szmon — Fri, 20 Apr 2012 10:00:00 GMT

St. Marys, Perth County - Announcing a price reduction on 529 Queen St E, a 2 bath, 3 bdrm single storey. Now MLS® $219,549 - Basement Potential.

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The true cost of home ownership? Ouch!

Cathie Szmon — Tue, 17 Apr 2012 23:39:00 GMT

Buying a home can be such an exhilarating and nerve-wracking experience for first-timers that they often overlook the true costs.

“They’re so emotionally charged that they forget the cost of the house isn’t just what they need to account for,” says Farhaneh Haque, director of mortgage advice with TD Bank. “There are ancillary costs you need to budget and save for.”

We asked experts what first-timers should expect to pay when purchasing a home, and the costs of ownership over time.

Related: How we paid off our house in three years

Begin with a budget:Before you begin house hunting, examine your income and create a budget to determine a monthly mortgage payment you can live with. The basic rule of thumb is that your total housing costs shouldn’t exceed one-third of your gross income.

Short-term pain: Initially you’ll need money for a down payment. A typical down payment ranges from 5 to 15 per cent of the home purchase price, or appraised value, whichever is less. The more you put down up front, the less you’ll pay in the long run.

You’ll need a home inspection as part of the condition of purchase agreement: this can cost up to $500.

Then there are closing costs, which can run between 1.5 to 2 per cent of your purchase price.

There’s the provincial land transfer tax and, for homes in Toronto, an additional municipal land transfer tax. On a $400,000 home, that’s a combined one-time payment of $8,200.

Notary and legal fees should be factored in; about $1,000 to $1,300. You’ll also pay $200 to $300 for your title insurance fee.

Dizzy yet? Wait, there’s more! A few other costs to consider:

If you’re buying a condo, you might need to pay for a status or estoppel certificate from the condo corporation.

And if you’re purchasing a new house from a developer, or one that’s been significantly renovated, you’ll likely be paying HST on the transaction.

Finally, there are the costs associated with the actual house move and furnishings to spruce up your new digs.

Not surprisingly, experts recommend establishing a decent-sized financial cushion ahead of time.

Related: 10 ways to avoid buying the wrong house

“I always tell my clients not to cut themselves short,” says Frances Hinojosa, a mortgage specialist at BMO. “Create a buffer in there for any incidentals, such as moving costs or upgrades to your property; maybe you want to paint or get window treatments.”

Ongoing obligations: Notwithstanding the mortgage payments, there are several other ongoing, long-term costs associated with operating a home.

There are property taxes, which in the GTA are usually about 1 per cent of a home’s purchase price and are based on the assessed value of the home. (Total taxes on a $400,000 home in Toronto are about $3,000 a year.)

A condo will have maintenance fees, which tend to increase over time.

And if you’re buying a house, there will be the ongoing cost of utilities and maintenance.

A home inspection will give you a basic sense of its state of repair, “but something like a furnace can go out overnight,” Haque notes. “So having a little bit of a safety net set aside for that is a good idea.” $100 a month for home maintenance is a safe bet.

Also be mindful of interest rates, which are currently at all-time lows. It’s wise for first-time buyers to account for roughly a 2- to 3-percentage point increase in this rate and provide for that in their budget, says Haque.

Budget stress test: Once you’ve accounted for your housing costs and determined what your new monthly budget will be, experts recommend subjecting your finances to a stress test.

If you’re currently renting, put the difference in the monthly costs into a savings vehicle. “So you actually get used to carrying that expense on a month-to-month basis,’ Hinojosa explains.

“That’s what my husband and I did when we bought our first home; even when we moved up to a second property,” she says. “When the purchase closed and we had to pay (that amount), we’d already been paying it. So there wasn’t this feeling of, ‘Oh my goodness, I can’t afford this.’ ”

Above article from www.moneyville.ca

Bank of Canada keeps interest rates on hold.

Cathie Szmon — Tue, 17 Apr 2012 23:35:00 GMT

The Bank of Canada kept its trend-setting Bank Rate at 1.25 per cent on April 17^th, 2012. While this was the 13^th consecutive policy meeting in which borrowing costs have been left unchanged, it was the first time since last September that a policy announcement has included a reference to the possibility of a rate hike.

The Bank reiterated a number of the more positive developments it first mentioned in the March 8^th announcement. These include a stronger profile for U.S. economic growth, as well as reduced risk emanating from Europe, which the Bank now expects will “emerge slowly from recession in the second half of 2012.”

The Bank also noted that “improved global economic prospects, supply disruptions and geopolitical risks,” are keeping oil prices up which if sustained could prove a risk to the improvement in economic momentum.

In Canada the Bank again declared the biggest risk to be high household debt, adding that it expects households will continue to add to their debt burden as “private domestic demand will account for almost all of Canada’s economic growth over the projection horizon.”

That said, with economic momentum in Canada remaining firmer than the Bank had expected back in January, the forecast for growth this year has been lifted. The Bank now expects the economy will grow at 2.4 per cent this year, up from the 2.0 per cent forecast in January.

At the same time, the Bank lowered its forecast for 2013 to 2.4 per cent from 2.8 per cent, and also extended its forecast out to 2014 with a prediction of 2.2 per cent growth.

The Bank also noted that the amount of slack in the economy had decreased. As such, the Bank now expects the economy will return to full capacity “in the first half of 2013,” which while intentionally vague is still sooner than the previous prediction for a return to full capacity by the third quarter of next year.

The Bank ended the announcement by hinting, for the first time since last September, that it may have to raise rates, stating “In light of the reduced slack in the economy and firmer underlying inflation, some modest withdrawal of the present considerable monetary policy stimulus may become appropriate, consistent with achieving the 2 per cent inflation target over the medium term. The timing and degree of any such withdrawal will be weighed carefully against domestic and global economic developments.”

Further clarification as to when these “modest” rate hikes may be expected will no doubt be the subject of the various speeches and remarks given by the Governor and his deputies between now and the next announcement on June 5^th, 2012.

As of April 17^th 2012, the advertised five-year lending rate stood at 5.44 per cent. This is up 0.2 percentage points from 5.24 per cent on March 8^th, when the Bank made its previous policy interest rate announcement.

Above article direct from www.creanews.ca

The Black Angus of St. Marys - Concerts for 2012

Cathie Szmon — Tue, 17 Apr 2012 10:18:00 GMT

Concert Listing for 2012 For The Black Angus of St. Marys

April 20^th Laurindo Full menu available until 7:30pm. Concert starts at 8:30pm, $10.00 concert with Dinner reservation

April 28th Gary Boyle Canadian Country Baladier Full menu to 7:30 $10.00 Concert begins at 8:30 p.m. With Dinner Reservation

May 5^th Black Rapids Gold Full menu available until 7:30pm. Concert starts at 8:30pm, Free concert with Dinner Reservations

May 11th Mind Games Show starts at 9:00 Full menu available until 7:30pm. $20.00 show starts at 9:00 show Seats will be reserved for Dinner reservation only

June 1^st One with Him concert Money being raised will be going to help Habitat for the new home build. $10.00 concert begins at 8:30 full menu to 7:30

June 2nd Caroline Burchill Full menu available until 7:30pm. Concert starts at 8:30pm, $10.00 concert with Dinner reservation. http://www.carolineburchill.com/

June 9^th Alan Gerber $20.00 concert starts at 8:30 full menu to 7:30 reservations needed to reserve seats for show

June 23^rd Al Lerman 2 X Juno award winner Full menu available until 7:30pm. $20.00 Concert starts at 8:30pm, Concert Seats will be reserved for Dinner reservation only

July 14th Jimmy Bowskill Concert 8:30 full menu to 7:30 dinner reservations needed for seats to the show tickets are $20.00 for the show only

August 18^th Jack London Concert Full menu to 7:30 $10.00 Concert begins at 8:30 p.m. With Dinner Reservation

August 25^th The Blues Daddies Full menu available until 7:30pm. Concert starts at 8:30pm, Free concert with Dinner Reservations http://www.youtube.com/watch?v=eIZtEFZ7i5M

September 15^th Donna Fawcett Concert 8:30 Full menu to 7:30 dinner reservation needed for this free concert writing as Donna Dawson http://www.donnafawcett.comDinner is prior to the shows and dinner will be completed by 8:00 p.m. so the show will begin approximately at 8:30. Remember you need to call for reservation: 519-284-0666 Dinner guests will be seated on the upper level closer to the stage. Thanks for your following Trevor & Susan

3 Storey Commercial Building For Sale in St. Marys

Cathie Szmon — Sat, 14 Apr 2012 20:37:00 GMT

Commercial Building for sale

• 3 storey - MLS® $290,000 - Building only for sale

St. Marys, Perth County - Building only for sale in historic downtown St Marys. Retail space on main level, 3 bedroom apartment on the second & third floor. Both spaces rented. Very well maintained building with many recent updates- roof, facade, heat system, a/c, wiring, drywall & awning. Upper apartment in excellent condition with 3 bedrooms, large kitchen, formal dining room & living room. Upper patio/deck off apartment. Ample parking at rear of building. Apartment newly renovated one year ago.

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Open House in Wellburn on Saturday

Cathie Szmon — Sat, 14 Apr 2012 20:08:00 GMT

Wellburn, Thames Centre - We invite everyone to visit our open house at 23591 Wellburn Road on April 21 from 1:00 PM to 2:30 PM.

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Open House in St. Marys on Saturday

Cathie Szmon — Sat, 14 Apr 2012 20:07:00 GMT

St. Marys, Perth County - We invite everyone to visit our open house at 30 Homefield Court on April 21 from 10:30 AM to 12:00 PM.

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Open House in St. Marys on Saturday

Cathie Szmon — Tue, 27 Mar 2012 10:11:00 GMT

St. Marys, Perth County - We invite everyone to visit our open house at 30 Homefield Court on March 31 from 10:30 AM to 12:00 PM.

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30 Homefield Court - Open House - Sat. Mar 24th 1030-Noon

Cathie Szmon — Thu, 22 Mar 2012 10:07:00 GMT

St. Marys, Perth County - We invite everyone to visit our open house at 30 Homefield Court on March 24from 10:30 AM to 12:00 PM. Model home can be viewed at 34 Homefield Court.

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Black Angus of St. Marys - Concert Schedule for 2012

Cathie Szmon — Wed, 21 Mar 2012 22:37:00 GMT

Concert Listing for 2012

For The Black Angus of St. Marys

March 24^th Caroline Burchill Full menu available until 7:30pm. Concert starts at 8:30pm, Free concert with Dinner reservation this is on the heels of her CD release party. http://www.carolineburchill.com/

March 31^st Gary McGill http://garymcgill.tk/ Full menu available until 7:30pm. Concert starts at 8:30pm, Free concert with Dinner reservation

April 14^th Nora Galloway & The Tear Jerkers Full menu available until 7:30pm. Concert starts at 8:30pm, $5.00 concert with Dinner reservation

April 20^th Laurindo Full menu available until 7:30pm. Concert starts at 8:30pm, $10.00 concert with Dinner reservation

April 28th Gary Boyle Canada's Country Balladeer Full menu to 7:30 $10.00 Concert begins at 8:30 p.m. With Dinner Reservation

May 5^th Black Rapids Gold Full menu available until 7:30pm. Concert starts at 8:30pm, Free concert with Dinner reservation

June 1st One with Him concert Money being raised will be going to help Habitat for the new home build. $10.00 concert begins at 8:30 full menu to 7:30

June 9th Alan Gerber $20.00 concert starts at 8:30 full menu to 7:30 reservations needed to reserve seats for show

June 23^rd Al Lerman 2 X Juno award winner Full menu available until 7:30pm. $10.00 Concert starts at 8:30pm, Concert Seats will be reserved for Dinner reservation only

July 14th Jimmy Bowskill Concert 8:30 full menu to 7:30 dinner reservations needed for seats to the show tickets are $20.00 for the show only

Dinner is prior to the shows and dinner will be completed by 8:00 p.m. so the show will begin approximately at 8:30. Remember you need to call for reservation: 519-284-0666 Dinner guests will be seated on the upper level closer to the stage. Thanks for your following

Trevor & Susan

Enjoy Summer Grilling Safely

Cathie Szmon — Wed, 21 Mar 2012 10:25:00 GMT

Steaks grilled to perfection: juicy and tender with hint of smoky flavour. For many barbeque aficionados, summer just wouldn’t be summer without firing up the ‘barbe’. Unfortunately, the quest for hot-off-the-grill flavour can sometimes result in damage and injuries. Boys under nine-years-old are surprisingly the most likely to be injured in barbeque accidents. Their odds are one in 33,509 followed by men in their twenties at one in 1 in 46,276*. In addition to injuries, many homes suffer heat and fire damage each year. Awareness is the key to enjoying your barbeque safely.

One of the least safe places to barbeque is on a balcony. A back draft can draw smoke into the apartment making breathing uncomfortable and creating a health hazard. A by-product of burning propane, wood and/or charcoal is carbon monoxide. This odourless gas blocks the human body from absorbing essential oxygen. Victims of carbon monoxide poisoning become disoriented, which is very unsafe near a hot barbeque. At concentrated levels, carbon monoxide is fatal. Barbequing on a balcony also poses a hazard to neighbours since a breeze can carry burning embers into their suites. Balconies typically do not have sprinklers so a fire can spread quickly.

Backyard grilling has its own set of precautions. Consider this scene: a party of adults and children are gathered poolside one summer afternoon. Meat, coleslaw, condiments, etc. are set out on a platter while people socialize prior to the barbeque. Children are running around. The chef, who has consumed a couple of beers, decides it’s time to heat up the grill. It is a warm, breezy day. The chef opens the propane valve, opens the lid and flicks the automatic lighter. At this point, you might have noticed a few potential problems.

Has the chef cleaned the grill since its last use? If not, he or she might experience a dangerous flame burst caused by grease and food particles that have built up on the briquettes, grill, and the barbeque interior. As a rule, it is wise to scrub your grill with a stiff steel bristle brush and wipe off grease splatter after each use. (A clean grill also prevents food from sticking.) After several uses, it will likely be time to give your grill a top to bottom cleaning. Wipe off the visible grease then use soapy water to clean up the residue. If your briquettes are encrusted with food and burned oil, replace them. If you have a gas barbeque, disconnect the gas and lift out the grill parts layer by layer. Once you get down to the burners, make sure you inspect them thoroughly. Be sure that the lines and connections are clean for even heating. If you notice peeling paint or rust, touch up the spots with fresh, heat-resistant primer and paint. Follow the manufacturer’s directions on the best way to clean and repair your unit.

The second risk involves children playing near the barbeque. They can easily become engrossed in their games and trip into the hot barbeque or knock over the chef causing burns and other injuries. Young children are curious and want to watch and assist. Ensure that little helpers are constantly supervised by another adult.
A third risk is alcohol, which impairs reflexes and judgement. Barbeque accidents have happened to people who are completely sober so imagine how the odds increase with too many drinks!

A fourth problem with this lovely summer scenario is the food itself. Meat, fish and foods containing dairy or egg products should be refrigerated until they are ready to be cooked or eaten. According to the Canadian Partnership for Consumer Food Safety Education, pathogens and micro-organisms that cause food poisoning can multiply rapidly within a temperature zone of 4C (40F) to 60C (140F). Reheating the food will not make it safe. Also, avoid cross contamination by using a fresh platter for cooked meat and fish; never put cooked food onto a surface that held raw food.

Tips for everyone who enjoys barbequing

In general:
• grill outdoors and never in a garage, tent or other enclosed area;
• keep children and pets away from the barbeque area;
• if you have a gas barbeque, never use lighter fluid (accelerant) on the grill
• several feet away from the grill, keep a fire extinguisher (baking soda and sand can also work);
• use long-handled tongs and brushes to keep you at a safer distance from the heat;
• protect your deck or patio with a heat resistant composite cement grill pad.

Propane gas barbeques are efficient and convenient but there is a risk of explosion and fire when used improperly.

When lighting your gas barbeque:

• always open the lid before lighting so that gas does not build up;
• open the cylinder valve first, then the burner and immediately use the ignition switch or lighter;
• if the burner does not ignite, with the lid open, turn off the gas and wait five minutes before trying again;
• lastly, never smoke near a propane tank.

Canadian law requires that you replace your propane cylinder every 10 years unless it is inspected and re-qualified. The date the cylinder was last qualified is stamped on the collar of the tank.

Safe grilling!

*Source: “The Risks of Grilling”, Statistical Assessment Service, George Mason University,

Get the Dirt on Composting

Cathie Szmon — Tue, 20 Mar 2012 13:35:00 GMT

When grass clippings, apple peels and other organic materials get tossed in with the rest of the household garbage, the potential for harvesting the goodness of these natural materials is lost forever. Instead of being used to create free fertilizer, these items become part of a toxic brew of chemicals and heavy metals at landfills. Home composting is a simple way to reduce the burden on landfills while greatly benefiting garden plants.

Science plays a role in creating good compost (a rich humus). Adequate moisture, air, carbon-rich and nitrogen-rich materials are essential. When these elements are available in the right proportions, they aid in decomposition, encourage the growth of aerobic bacteria and attract worms and other small organisms. Without these elements, the compost pile may sit for months without decomposing and may begin to smell rather unpleasant.

The materials inside a compost bin should be moist but not soaking wet. Vegetation typically contains enough liquid to maintain proper moisture inside a bin. However, in hot, dry weather you may need to pour a few litres of water on the pile every week or so. Adequate airflow is usually achieved with openings up the side of the bin. Plastic containers specially designed for composting are available from many municipal governments and from gardening supply stores. It is also possible to build a functional bin with a wood frame and chicken wire although manufactured bins usually offer the advantage of a sliding door at the bottom to retrieve finished compost.

Carbon-rich (brown) materials include dry leaves, straw, sawdust, and dried grass clippings. Nitrogen-rich (green) materials include fruit and vegetable scraps, plant trimmings, fresh grass clippings, coffee grounds and tea leaves. Bacteria, worms and other beneficial organisms need a balance of carbon and nitrogen along with various other nutrients such as natural sugars.

What to compost

Fruit and vegetable trimmings
Coffee grounds
Cornstalks and cobs
Eggshells - It helps to crush them first.
Horse and cow manure
Garden trimmings - You can run a mower over larger leaves to speed decomposition.
Sawdust
Wood ashes - Small amounts add carbon to the compost bin but large amounts can slow the composting process.

What not to compost

Barbeque ashes/coal - These contain sulphur oxides and other chemicals.
Fish skin - It attracts animals.
Cooked food - This attracts animals and can slow the composting process.
Kitty litter - It may contain disease organisms.
Dandelion seed heads - Do not try to compost mature seed heads as this resilient plant will soon begin to sprout out of the sides of the bin.

Adding to the Compost Bin

The way you add materials to your bin will affect how well and how thoroughly they become compost. Choose a bin that has a volume of approximately one cubic metre. This size is large enough to retain heat and moisture in the centre of the bin. At the bottom, add a layer of coarse material such as branch cuttings, leaves, or straw to aid in air circulation. Next, add some nitrogen-rich grass clipping or fresh leaves. Add kitchen scraps to the centre of bin and cover with a thin layer of soil (approximately 3cm). This will deter flying insects that are attracted to fruit. Whenever possible try to alternate layers of fresh green materials with brown materials remembering to keep kitchen scraps in the centre.

Once you have your bin about halfway full, things should begin to heat up! As micro-organisms such as bacteria and fungi consume (decompose) the materials inside the bin, they create heat. This heat helps to kill some harmful bacteria and weed seeds. Proper composting involves temperatures between 43 °C and 65 °C (110 °F and 150 °F). The process of decomposition is complete when the temperature of the pile declines and remains below approximately 40 °C (105 °F). Allow the compost to mature for another two to six months to ensure that it will not produce any unpleasant odours. If you have a large amount of material, you may wish to have two bins-one for new material and another for maturing compost.

Compost bins are wonderful ways to make lawn trimmings disappear! As materials decompose inside the bin, they typically shrink in volume as bacteria and fungi consume the nutrients and some of the water content. To help speed up the process, you may wish to chop up large scraps. Smaller pieces offer more exposed surface for micro-organisms to invade.

You can harvest your compost at the bottom of the bin. The large, plastic models available at gardening stores typically have a sliding door at the bottom to allow you to remove finished compost. If your bin does not have a door, you may need to tip over the unit and collect the completed compost. This is a good opportunity to mix materials that are still in the process of decomposing.

After months of 'feeding' and aging, your compost will be ready to use on your garden. There are several ways to make use of this nutrient-rich humus. You can shovel some around the base of trees and shrubs. You can mix it into the topsoil around flowers and vegetables. You can even make tea out of it. Put a litre of compost into a piece of cloth and tie it up. Then soak the bag overnight in a garbage can full of water. Serve the 'tea' to plants only-they will appreciate the potent, healthy brew.

Whichever method you choose, your plants and our landfills are sure to appreciate your efforts!

Mortgage war means good news for homeowners

Cathie Szmon — Tue, 20 Mar 2012 11:48:00 GMT

Good news! The mortgage wars are back.

Bad news! The mortgage wars are back.

It all depends on your perspective.

If you’re an aspiring homeowner or you want to refinance to pay off back-breaking credit card debt, the latest battle of the banks for market share is a terrific opportunity.

If you’re Bank of Canada Governor Mark Carney, it’s a slap in the face. You’re the most influential financial person in the country and you’ve been spending a lot of time during the past two years warning Canadians about the dangers of their ever-increasing debt levels. And what is the banking oligarchy doing in response? Thumbing their collective noses at you by encouraging people to take on even more debt!

The latest cat fight for mortgage market share couldn’t have come at a better time for prospective borrowers. The spring housing season is just starting to heat up and prices stubbornly continue at record highs despite alarm bells that the bubble could burst any time soon. In this climate, any break on mortgage rates that makes your dream home more affordable is welcome.

The mortgage market is a Wild West show right now. The banks are aggressively undercutting one another to build their business before the low-interest window closes. Bank of Montreal kicked off the latest round of rate-cutting by offering a five-year closed mortgage at 2.99 per cent and an even more eye-popping 10-year rate of 3.99 per cent.

Royal Bank has countered with an “all the frills” four-year fixed rate of 2.99 per cent with amortizations up to 30 years. That translates into a monthly payment of $1,260 on a $300,000 loan. By comparison, at 5 per cent the monthly carrying cost would be just over $1,600. Royal even offers to pay the switching costs if you move your business from another financial institution. Talk about dog-eat-dog!

Most other banks are offering similar deals just to stay in the game. For the moment, this is a true buyer’s market for borrowers but it may not last long. Some of the deals have fixed termination dates (e.g. March 28 for BMO’s 10-year 3.99 per cent rate). Others could be pulled at any time.

Meanwhile, in Ottawa, Carney must be seething. The last thing he wants to see is Canadians jacking up their household debt to income ratios even more. But short of intervening directly in the private sector, which he would be reluctant to do except under extreme circumstances, his hands are pretty much tied.

He’d love to raise the key overnight target rate from its current level of 1 per cent but for the moment he’s a prisoner of the domestic economy and international forces. The recovery is still fragile and the high loonie continues to hurt our export markets. Still, you can bet he’ll make a move at the first possible opportunity.

Do you remember in high school when your English teacher would make you parse lines from Shakespeare? That’s what economists do when the Bank of Canada issues its interest rate statements. They dissect every line, looking for clues that indicate any subtle shifts in position that might suggest a move up or down in the near future. They found several such clues in the March 8 announcement that the overnight rate would remain unchanged for now.

“The heightened uncertainty around the global economic outlook has decreased in the weeks since the Bank released its January Monetary Policy Report (MPR),” the statement said. “With tentative signs of stabilization in European bank funding and sovereign debt markets, conditions in global financial markets have improved and risk aversion has decreased.”

Reduced global uncertainty. Signs of stability in Europe. Global financial markets looking better. Less risk aversion. Hmm.

The statement went on: “Canadian household spending is expected to remain high relative to GDP as households add to their debt burden, which remains the biggest domestic risk.”

It doesn’t take an economist to read between the lines here. With the global economy improving and household debt “the biggest domestic risk” interest rate increases are on the way sooner rather than later.

The U.S. Federal Reserve Board’s pledge to hold its rates at record lows until 2014 is a problem because it means a Canadian rate increase will probably push the loonie even higher. But Carney may be prepared to live with that to try to shake the country out of its debt spiral.

So if you are thinking about borrowing money, my advice is to act now. The window may be closing faster than you think. And here’s another tip. Take the longest low-rate option you can find. You may not see anything like it again in your lifetime.

Gordon Pape is editor and publisher of the Internet Wealth Builder newsletter. His website is www.BuildingWealth.ca

Entire article taken from moneyville.ca

Open House in St. Marys on Saturday

Cathie Szmon — Mon, 19 Mar 2012 20:16:00 GMT

St. Marys, Perth County - We invite everyone to visit our open house at 30 Homefield Court on March 24 from 10:30 AM to 12:00 PM.

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Single Story For Sale in St. Marys

Cathie Szmon — Fri, 16 Mar 2012 11:27:00 GMT

To Be Built

• 2 bath, 3 bdrm single storey - MLS® $274,900 - 3 bedroom brick bungalow

St. Marys, Perth County - Rick VanDerSchot, Owner of VanDerSchot Construction has a combined experience of 23 years in his family owned construction company, Rick VanDerSchot is recognized as being in the top 7% of Ontario Builders for customer service.

Rick is a qualified Architecture Technician and qualified designer under Bill 124 of the Ontario Building Code. Rick is a strongly motivated and outgoing individual who works well with buyers and trades people. He is the Past President of the Stratford Home Builders Association.

The home is a brick bungalow with 3 bedrooms and 2 baths. You walk in the front door to a large foyer with a generous size closet. Past the foyer is the kitchen with an 'eat at' island. Beyond the kitchen is the dining area and the living room with patio doors leading to the back yard. Hardwood, tile and carpet cover the main level floors. The master bedroom is at the back of the house with a 3 piece ensuite. Lower level is waiting for you to finish. There is still time to choose finishes. Other lots and house styles to choose from. Model home available to view at 34 Homefield Court St. Marys.

This home is within walking distance to the new public school in St. Marys ON - Little Falls Public School and the Pyramid Centre. The Pyramid Centre is St. Marys recreation centre. It boasts two ice pads, indoor swimming pool, splash pad as well as The Friendship Centre which is a great place for seniors to spend some time. MLS 354025 Price $274,900

Cathie Szmon, Broker
Sutton Group - first choice realty ltd., Brokerage
Office 519-284-4515 ext. 308
Cell 519-272-6019
Email szmon@quadro.net
www.cathieszmon.com

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Open House in St. Marys on Saturday

Cathie Szmon — Thu, 15 Mar 2012 21:34:00 GMT

St. Marys, Perth County - We invite everyone to visit our open house at 30 Homefield Court on March 17 from 10:30 AM to 12:00 PM.

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Open House in St. Marys on Saturday

Cathie Szmon — Mon, 12 Mar 2012 15:58:00 GMT

St. Marys, Perth County - We invite everyone to visit our open house at 34 Homefield Court on March 17 from 10:30 AM to 12:00 PM.

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Royal Bank, CIBC, TD and BMO slash mortgage rates to 2.99%

Cathie Szmon — Sun, 11 Mar 2012 20:20:00 GMT

Complete article from moneyville.ca

Four major Canadian banks have slashed their mortgage rates to 2.99 per cent – temporarily – in a bid to win more business as the housing market cools.

Royal Bank of Canada was the latest to join the fray late Thursday, after Bank of Montreal fired the first salvo a day earlier by cutting the interest rate on a five-year fixed mortgage half a percentage point.

CIBC and TD Canada Trust were quick to match BMO’s rate, though like RBC, their offer is on a four-year fixed mortgage, one year less than BMO is touting.

BMO’s rivals all said their special rate mortgages come with all the same features as a regular mortgage, while BMO’s contains some restrictions.

The latest rate war echoes a similar one Bank of Montreal launched in January. At that time only two other banks, TD and RBC, jumped in. Both withdrew their offers early citing changes in the bond market, which influences mortgage rates.

This time, Bank of Montreal has upped the ante, adding a 10-year mortgage at 3.99 per cent, which rivals have so far declined to match.

All offers are temporary and expire within a few weeks.

The price war appears at odds with the latest warning from Bank of Canada Governor Mark Carney that Canadian consumers are carrying too much debt.

“Canadian household spending is expected to remain high relative to GDP as households add to their debt burden, which remains the biggest domestic risk,” Carney said Thursday as he held the bank’s trend-setting rate to 1 per cent.

However, the big commercial banks fear a slowing housing market could eat into their loan growth.

“Housing is a big part of the banks’ Canadian lending operations,” said David Madani, a former Bank of Canada economist now with the independent research firm Capital Economics in Toronto. “The mortgage market is a fairly competitive market. So I think we’ll see more of this in the near future.”

Both TD and BMO said their latest offers will help Canadians pay down their debts faster.

TD allows customers to double up their regular mortgage payments any time, and also pay off 15 per cent of their principal once a year.

About 20 per cent of its customers used the annual payment feature in the past 12 months, Farhaneh Haque, director of Mortgage Advice, TD Canada Trust, said in an interview.

“I think it’s a positive sign Canadians are taking advantage of these flexible payment options,” she said.

CICB also said that all the usual features would apply to its special rate four-year mortgage.

That’s in contrast to BMO, which has attached a number of special conditions to its two new low-rate mortgages.

Both come with a 25-year amortization period, which can make it more expensive to carry than a typical mortgage with a 30-year amortization payback period.

Frank Techar, head of Canadian personal and commercial banking at the Bank of Montreal, defended the shortened amortization period saying it would be “good for Canadians and good for the stability of the Canadian housing market.

“We want to minimize interest rate risk for our customers and help them understand the benefits of paying their mortgage faster.”

The BMO products carry other restrictions as well. Customers can pre-pay and make lump sum payments as long as the total doesn’t exceed 10 per cent of the principal amount owed. Most mortgages let you make monthly and lump sum payments of as much as 20 per cent.

As well, you cannot refinance or switch your mortgage to another lender for the length of the term.

“We’re trying to reinforce the fact we want customers to have the benefit of the low rate but we also are catering to customers that want to live in their house and repay their mortgage as fast as possible,” Techar said.

Techar said reaction to BMO’s previous offer was fantastic. “We saw an increase in volume almost immediately and it continued for the whole two-week period.”

Complete article taken from moneyville.ca

Single Storey For Sale in St. Marys

Cathie Szmon — Sat, 10 Mar 2012 14:38:00 GMT

• 1,274 sq. ft., 2 bath, 2 bdrm single storey - MLS® $189,900 - Adult Community Living

St. Marys, Perth County - Showcase model modular home in Maple Lane Park - Adult community living. Many upgrades & a pleasure to show. Oak kitchen with island, Jenn air built in oven & stove top. Exterior shed with hydro. Window treatment which includes day/night shades, gas fireplace, 2 bedrooms, 2 baths. Retiring? Empty nester? Keep your independence at the Maple Lane Park. On site recreation centre for entertainment. Interior Pictures and Virtual Tour coming soon.

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Open House in St. Marys on Saturday

Cathie Szmon — Tue, 06 Mar 2012 16:39:00 GMT

St. Marys, Perth County - We invite everyone to visit our open house at 34 Homefield Court on March 10 from 10:30 AM to 12:00 PM.

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Single Storey For Sale in St. Marys

Cathie Szmon — Sun, 04 Mar 2012 14:38:00 GMT

• 1,274 sq. ft., 2 baths, 2 bedroom single storey - MLS® $189,900 - Adult Community Living

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