New Listing

Now that we are beginning to think of Spring, although snow fell thoughout the day today, homes are beginning to be listed.

Check out this one - Great family home for a great price! Please phone me at 705-252-5242 or 877-252-5242 if you would like more information.

Click here for the virtual tour.

Until next time!
Jamie

New Mortgage Rules for Canadians

Yesterday (Feb 16, 2010), the Department of Finance in Canada announced changes to government-backed mortgages. There was talk that there would be changes in how much would be required for a down payment, or changes in the amortization period, but that never happened. The following changes were announced:

•Require that all borrowers meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter term. This initiative will help Canadians prepare for higher interest rates in the future.
•Lower the maximum amount Canadians can withdraw in refinancing their mortgages to 90 per cent from 95 per cent of the value of their homes. This will help ensure home ownership is a more effective way to save.
•Require a minimum down payment of 20 per cent for government-backed mortgage insurance on non-owner-occupied properties purchased for speculation.

These changes will take effect as of April 19, 2010. The purpose of the changes is to help prevent a housing bubble, and to aid Canadian home owners from becoming overextended.

Here are two great websites to learn more about the upcoming changes:

Deptartment of Finance is where the changes are stated by the government, and

The CBC News which has a video that discusses not only the changes, but the differences between Canadian and US financing rules. There is a written article on the site as well.

Hope you find this informative!
Until next time,
Jamie

January 2010 Stats

According to the Barrie and District Association of REALTORS®, January has been another great month for sales. The number of sales in the Barrie region have risen 62%, while the total number of properties have risen 67% compared to January 2009. Even though these numbers have risen greatly, the average price has only increased 4% from last year at the same time to $270,340. To view all the stats, click here.

Until next time,

Jamie

Coping with Divorce and Separation

In these days of high stress, caused by busy lives and economic struggles, unfortunately, many couples are finding it difficult to cope. As a result, the divorce rate remains high in this country. The interesting, and sad, thing about divorce and separation, is that the event effects so many different facets of a person's life. Not only are living expenses compromised, but investments, and insurance plans need to be reviewed. Any property needs to be divided. Although the couple is separating, this last task needs to be handled by both partners. Even if only one Seller is on the title, the other person in the relationship has to sign off on any of the paperwork if we are talking about the matrimonial home. How difficult a task it would be, to work with someone with whom you are ending a relationship?

It is important that emotional needs of all the family members are cared for as well. Sometimes parents will say "My kids are doing just fine," when in fact they are struggling privately. Kids often are confused, feel pulled between parents, feel responsible and don't know where to turn. Children who have behavioural changes often get help, but what about those who keep their emotions bottled up? It is extremely difficult to care for the emotional needs of children when a parent is going through their own emotional struggles.

Now, you might be wondering why a REALTOR® is writing about these issues. They are important to me, as I spent many years working with families such as those I've described. Recently, a group of professionals: myself, a financial planner, an insurance specialist, a family therapist, and the national director of Rainbows Canada, have come together to help families in this situation transition as smoothly as possible. By working together as a group, we are able to support individuals during a very difficult time in their lives. (For those of you who don't know, Rainbows is an international not-for-profit organization that fosters emotional healing among children grieving a loss from a life-altering crisis.)

If you know of someone in this position, please let them know that they can receive a free resource guide by phoning Family TLC at 705-737-3513.

To read an article that recently appeared in one of the local papers, click here. Also, if you would like to learn more about Rainbows, click here.