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Wednesday, July 11, 2012
Where else but IN a Phone Booth?
Tel-talk is an on-going project that brings together artists of varying backgrounds, from across the country, to perform in and or animate a telephone booth in response to themes surrounding public spaces, and the disappearance of traditional phone booths.
Monday, June 25, 2012
Use Equity When Divorcing
How You can Access more equity when divorcing!
Hi, I’m Nathalie Ng. I'm the Money Chick- A mortgage agent who is licensed 2 give unbiased advice on your mortgage.
Can you help clients who are single, separated, single parents & divorced?
Yes I do and it is a special niche as I deal with lenders who are in this market segment.
What can clients do when they are divorcing? I know of many women who are looking to buy their own property now. Can they start all over again & buy another property?
Definitely... With the increasing # of divorces, many of them want 2live separately. However, due to the economic circumstances, some stay together in order to keep the house Others, rent after divorce. Both of
which are not good as in the 1st case, they are unhappy living together and the 2nd, it is financially not
advisable to rent.
In the traditional way, when a couple is divorcing, their lawyer is splitting all their assets. There could
be times when the couple decides to sell the house and live separately. So what happens then?
What happens is each party ends up with a smaller equity thus, resulting from not being able to buy another
property. As you may also know, utilizing a mortgage to Refinance & free up equity can definitely be a great
tool when paying out joint matrimonial liabilities, as well as providing a cash settlement. Recent changes in mortgage financing however have now capped accessing home equity to 85% of the property’s value. But I have good news! There are cases where I have been able to assist divorcing couples & their lawyers in
negotiating separation agreements. Essentially, the clients are allowed to free up to 95% of the equity in a
property specifically for marital splits. That is a huge difference from 85% which is the norm.
So let`s say, for a house valued at $400,000, how much equity they can get?
With traditional lenders, they can only have access to 85%, which = $340,000 in this case. This could be
used to pay off one spouse, debts & settlement. Now compare this vs accessing 95% of the value of the
house.
For the same house of $400,000, now they can access $380,000 of equity. This is an extra $40,000. That
$40,000 can itself contribute towards a bigger down payment towards a new house. All this is at very good
mortgage rates. Divorcees and single parents should really think of owning again rather than renting.
That is the smarter way…Thank you Nathalie. How can we get hold of you?
Nathalie can be reached at 416-629-1818
Monday, June 18, 2012
Paying for the Staging
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| Photo Credit LastDetail.ca |
"See! This is how it could be if you lived here."
So on the average sale of $650,000 in competition you might add on $50 - $75,000.
That is a lot of lipstick and paint that you can buy later.
Rather than mortgaging furniture and pillows that were rented;
- Lets look for a property that has been on the market a little longer.
- Suffers from Divorce or Financial Stress
- Visible deferred Maintenance Issues
- Mom or Dad has been moved out and it needs a facelift.
- Needs a bathroom or Kitchen remodel.
- You will be painting anyways
- You will find neglected and masked repairs.
- You will be making renovations.
Lets put your money to better use. Buying you, your Dream Home within your budget and where you can have the mortgage paid off sooner.
That's what its really about.. Not conspiring to cost your more.
Ready to get started? Call me...
Monday, May 14, 2012
Can you demonstrate your value?
How will you demonstrate your value proposition?
With the competitive nature of the Toronto real estate market, when Buyers or Sellers ask what you can do.... How would you respond?
Add your comments
With the competitive nature of the Toronto real estate market, when Buyers or Sellers ask what you can do.... How would you respond?
Add your comments
Tuesday, April 17, 2012
What do you expect for $299? Toronto MLS
Are you getting the same services when you compare?
Introductory Meeting-1 to 2 hours (minimum $200)
Professional Appraisal Completion- 3 to 5 hours (minimum $400)
Listing Presentation-1 to 2 hours (minimum $200)
Professional Staging and Pre-List Preparation-1 to 3 hours (minimum $200)
Listing Data Verification and Signing-1 hour (minimum $100)
Listing Copy Writing and MLS uploading-2 to 3 hours (minimum $300 includes the mls processing fee)
Professional Listing Photography with Copyrights attached-1 hour(minimum $100)
Professional Photography Editing-1 to 2 hours (minimum $100)
Professional Feature Sheet Composition-1 to 2 hours (minimum $150)
Feature Sheet Production- one set of 25 (minimum $100)
Sign Placement- includes board and frame and disposable corner markers (minimum $50)
Professional Virtual Tour Production- 2 hours (minimum $200)
Website Upload- 2 hours (minimum $200)
Professional Agent Open House- 3 hours (minimum $300)
Professional Public Open House-4 hours (minimum $400)
Professional Offer Negotiations- 4 hours ( minimum $400)
Conditional Follow Ups- 2 hours (minimum $200)
Lawyer and Closing Follow Up-2 hours (minimum $200)
Additional incured upon each Offer Presentation= $800
Brokerage or Brand Open House- 3 hours (minimum $300)
Follow Up and Leads- 2 hours per week (minimum $200 per week)
Additional Public Open House- 4 hours (minimum $400 per Open House)
Advertisments in print- (Canadian average $300 per ad per week)
Magazine Advertising (varies with property value and reach of magazine)
Please note the above billing rate is only $100/hr. This rate is all inclusive covering non-variable hard operating expenses (about $60,000 per year) spread over a 2000 hrs per year allocation and labour.
An interesting conundrum....
Tuesday, April 10, 2012
Wish I could pay off my debt faster
You go to sleep at night and you toss and turn in your bed thinking about all the debt that you are in with no money to pay for it and no one to borrow from.
The next morning you realize you need to get help to manage your debt because it has become way out of hand. Now your health is in jeopardy and you can not afford to take time off.
What do you do?
You look for a credit counselor, such as Veronica Thompson; someone that you feel comfortable with. Someone who cares and shows you the process to get back to where you started; back to having good credit and manageable debt as well as a good night's sleep. Zzzzzzz zzzz.
If you are like some individuals who are making the difficult decision of taking equity out of their home to consolidate their debts, then give me a call and let me help you through the process of selecting the highest rate loans to refinance into a lower interest rate. You can register on my website and receive weekly mortgage rates to your email address.
You don’t have to wait any longer, seek advice from a credit counselor just like you would ask for advice from a lawyer for legal matters or an accountant for tax issues. It can’t hurt you; only help you. Besides two heads work better than one.
So give Veronica Thompson a call at 416-410-1150 or send an email at the address below and let's get started today. Veronica Thompson a licensed Mortgage Agent and ready to help you make an informed decision.
Veronica Thompson, Mortgage Agent Mortgage
Email: vthompson@mortgagealliance.com
Tuesday, March 20, 2012
Seriously? Interest Rate Increase?
We are expecting a significant mortgage rate increase in the next week. It is extremely important that you act on this now!
Spreads on our bond yields which we use to set interest rates for all lenders are under water now.
Today the largest courier company Ups purchased a large courier company in Denmark, to make it the largest company in North America
When we see the logistics companies and courier companies grow as in in this example that is a tell tale sign that the economy is improving.
http://www.businessweek.com/news/2012-03-18/ups-said-to-reach-deal-to-buy-tnt-express
This is contrary to what the economist for CMHC indicated in late 2010 which was a freeze on interest rates over the next 14 months. This prediction was done prior to the fact that Interest rates kept dropping to the levels that exist now, along with many signs of an improving economy.
Mortgage trends is an excellent link as the brokers here many who work for the RBC Alternate Mortgage Lending side tell the true picture. Check out what they say
http://www.canadianmortgagetrends.com/canadian_mortgage_trends/interest_rate_direction/
We saw BMO launch a 5 years rate at 2.99% in January only to find out as a strip down mortgage it lacked many of the features of a mortgage. They pulled it and then tired to re launch it but by then everyone knew what they were selling. I sent you all a marketing piece on the comparison of RBC offering with all the bells and whistles in our Homeline Plan as a comparison to this. One bank is already to pull their rate offering this week.
Many of my clients started thinking shorter term 1-3 years up until this weekend when there was a mass frenzy of information traded between all of the big 5 banks on the tightening of bond yields and already a few have called back today and adjusted from a shorter term to the 4 year rate offering at 2.99% RBC Homeline.
What does this all mean?
You have a window of opportunity to help me rate commit as many clients as we can before the rates go up and save your clients 1000's of dollars .
We can hold this rate for 120 days. On a 250,000 mortgage if the rate is now 2.99% and later goes to 3.29% that is a payment swing of almost $40 a month or 2400 over 5 years and that would be the largest single increase in 4-5 yr rates in over 2 years!
I am attaching application forms for any of you who want to pro active ad have your clients complete these and also authorize a credit check 524 pdf form with RBC.
With out these two items I cannot protect your clients when rates rise before the end of the month.
RBC will continue to deliver advice you and your clients can bank on!
Lets all take advantage of this to book our clients at this excellent offering and grow your pipeline for Spring!!! Once the 2.99% offering is gone its gone!
David Pylyp Great Advice from Lindsay Doke RBC Are you booking the rate? If you are active in the Toronto Real Estate market you should reach out and reserve your interest rate. Call me
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