Woodstock Recreation and Leisure Fair

The 8th annual event is Sunday, March 4, 1-4 p.m. at Cowan Park on Ridgewood Drive.

Organized by Woodstock Recreation Advisory Committee this free community event features information on minor sports, adult sports, hobbies (photography, crafts, etc), groups who research history, collecting clubs, choirs, dancing, acting, singing, musicians (arts and creative arts), service clubs, and sports clubs to join -- perhaps badminton, cycling, lawn bowling, curling and even kids' tackle football.

For more details contact Glynis Hill at the City's Community Services department at 539-2382.

Ben Sage, Sales Representative. www.facebook.com/SageAdviceRealEstate  www.bensage.com www.oxfordcountyhomes.ca Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON

Title Insurance - More Than Just Fraud Protection

How much do you really know about title insurance? This article explains how title insurance can protect you against more than just fraud...

What's in a title? - Mortgage Broker News


Ben Sage, Sales Representative.
Re/Max a-b Realty Ltd., Brokerage.
519-536-7535
521 Dundas St.
Woodstock, ON N4S 1C3
www.facebook.com/SageAdviceRealEstate
www.bensage.com
www.oxfordcountyhomes.ca

Time to upgrade? 89 Canrobert Open House Saturday Jan 9, 2-4

Hello everyone!

Is it time for an upgrade?

Can you picture yourself in this well-decorated 2+1 bedroom ranch?

If you'd like to come check it out, I'd be happy to show you around, Saturday January 9th, between 2-4 PM. As always, I'm available for private tours as well.

Here is the MLS link for the property, and here is the VIRTUAL TOUR for the property.

See you there!

Ben Sage, Sales Representative. http://www.bensage.com http://www.oxfordcountyhomes.ca Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON

The Known Universe

Anyone who knows me moderately well will know I'm kinda a geek when it comes to science, science fiction and the universe. Basically I am fascinated by what we know and more importantly DON'T know about our existence. Without getting into a deep philosophical debate, I'd just like to share this wonderful animation, outlining the perspective of the SCALE of our universe. It made me feel absolutely insignificant, and amazed.

Check it out!




Ben Sage, Sales Representative. http://www.bensage.com http://www.oxfordcountyhomes.ca Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON

Great opportunity for a first time buyer or upgrading! - MLS 63-437 - 41 Canrobert St, - Move in Ready, only $189,900.

*hint* - click the underlined words for more detail!

This is a great 15 year old raised ranch located in a well established family friendly neighbourhood. It is located very close to parks and has quick and easy access to the major highways.

What more could you ask for? This sturdy, fully finished and move in ready home features a concrete foundation, 3 bedrooms (Master, 3rd Bedroom/Office, Nursery). and a full bathroom on the main floor, as well as main floor laundry, a spacious eat-in kitchen, and separate dining room. Plus a comfortable living room!

In the newly finished basement level you will find inside entry to your single car garage (a rarity in this neighbourhood!), extra storage in the utility room and under the staircase, a spacious full bathroom, rec room, family room, and a bonus room.

Enjoy year round convenience and efficiency thanks to the high efficiency forced air gas furnace with central air conditioning, and no-maintenance exterior of brick and vinyl siding.

Let’s not forget the nice two-tierd deck in your fully fenced back yard. This extremely well decorated home has plenty of space for your growing family, and is ready for quick possession! All appliances included. Be sure to check out the Virtual tour!

For Room Sizes and additional details, check out the Realtor.ca info page

Ben Sage, Sales Representative. http://www.bensage.com http://www.oxfordcountyhomes.ca Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON

Luxury housing sales edge higher as purchasers take advantage of buying opportunities in Ontario-Atlantic Canada, says RE/MAX

Mississauga, ON (November 3, 2009) -- Luxury homes sales continue to accelerate as economic
recovery takes hold in major markets in Ontario and Atlantic Canada, according to a report released today by RE/MAX.

The RE/MAX Upper End Report found that momentum is building in St. John’s, Saint John, Halifax-Dartmouth, Ottawa, Kingston, Greater Toronto, Hamilton-Burlington, and London as purchasers realize that the best buying period in recent history is about to come to a close. Sales are already on par or ahead of last year’s levels in 50 per cent of cities surveyed, while the remaining markets are set to reach 2008 figures by year-end.

“Twelve months of healthy home buying activity have clearly been crammed into five short
months,” says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. “It’s hard to believe that the transition in the market began in May. We’ve seen steady upward
momentum since that time, with solid year-over-year gains posted each and every month.”

Pent-up demand and greater affordability have been the catalyst. Increased selection in all markets—except Greater Toronto—as well as record low interest rates have also helped fuel moveup activity from Ontario to Newfoundland.

Leading in terms of sales appreciation is London, Ontario where the number of homes sold, priced in excess of $500,000, has climbed 11 per cent from January to September 2009, compared to one year ago. Greater Toronto and Ottawa both reported a one per cent increase in the number of homes sold in the top end during the same period. Within the GTA, Richmond Hill/Thornhill is particularly heated, with sales up 24 per cent over 2008 levels, followed by Mississauga— up 10 per cent. St. John’s, Newfoundland is on par with year-ago figures.

Of the six markets reporting a year-over-year decrease in sales, four are off by just a handful of
transactions (10 units or less), including Halifax-Dartmouth (off eight units), Kingston & Area (off three units), Toronto – West End (off 10 units), and Oakville (off five units). Activity in the
remaining two markets—Saint John and Hamilton-Burlington—is on the upswing, with the gap between 2008 and 2009 narrowing each month.

“A considerable shift is underway in the upper end,” explains Polzler. “The price correction that we witnessed earlier in the year is over and prices have since firmed up. Conditions are more balanced across the board or leaning toward seller’s territory once again. The one exception is the Greater Toronto Area -- now largely a seller’s market -- with bidding wars making a comeback amid tight inventory levels. The strength of the luxury segment is evident. This is now a real estate market with all sectors working in tandem.”

Highlights:

• Upper end sales started to move upward as positive indicators of economic recovery began to emerge. The momentum is expected to continue as Canada edges closer to positive periods of GDP growth in Q4 2009 and in 2010.
• Locals are fuelling luxury sales in the majority of markets surveyed. Activity among out of-province and international purchasers has waned from one year ago, although their presence in still evident in some markets.
• Sixty-one properties in Canada are currently priced over $10 million, with 18 of those located in Ontario. The priciest Ontario home is nestled in Toronto’s prestigious Bridle Path area, listed at $23 million.
• Three hundred properties currently listed for sale are priced over $5 million in Canada.
• In Atlantic Canada, there are 22 listings in excess of $2 million—13 in Nova Scotia, five in New Brunswick and two in Prince Edward Island. The most expensive property in Atlantic Canada is a $7.75 million estate on a bluff fronting the Atlantic Ocean on PEI’s north coast.

RE/MAX is Canada’s leading real estate organization with over 17,000 sales associates situated throughout its more than 677 independently-owned and operated offices across the country. The RE/MAX franchise network, now in its 36th year, is a global real estate system operating in more than 70 countries. Over 6,700 independently-owned offices engage nearly 100,000 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, and asset management. For more information, visit: www.remax.ca.

Ben Sage, Sales Representative. http://www.bensage.com http://www.oxfordcountyhomes.ca Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON

The United Way Year End Drive

Hello Everyone!

One of the benchmarks of the health of a community is the ability of the United Way to reach its yearly target. In previous years the real estate sector has not been a strong contributor to the yearly campaign. I plan to change that!!

I am personally pledging to donate $50 per closing until the end of the year, and I have asked all of my fellow real estate agents to do the same!

Every mailbox in Woodstock should have, or will shortly receive, a Re/Max a-b branded United Way donation envelope. You can also make a difference. Make a donation today and support this worthy cause! Alternatively you can drop by the United Way office (Springbank Ave - just north of Zehrs), call them with a credit card number (519-539-3851), or call me and I will happily stop by to pick up your donation!

Ben Sage, Sales Representative. http://www.bensage.com http://www.oxfordcountyhomes.ca Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON

Making Sense of Mortgage Rates in Today's Economy - From Corey Cunningham, Mortgage Specialist RBC

Making sense of mortgage rates in today’s economy

Many prospective homebuyers are wondering what has happened to mortgage rates in 2009, and where they may go from here. RBC Economics Research recently updated its’ outlook, and here is what the group has to report.

Since hitting a low in January of 2009, longer-term interest rates have trended higher with the move accelerating in July. The prospect that the worst is over for the global economy is giving investors the confidence to venture out of low-return fixed income securities and seek higher risk investments. While we expect many bumps on the road to recovery we still see potential for a very modest decrease in long-term rates in the final quarter of this year.

Outlook for the future

Momentum in the global economy appears to be changing. Leading indicators currently point to the end of economic contraction for the industrialized world in the third quarter of 2009. Stimulus from central banks, combined with government fiscal stimulus packages, is expected to support a fledgling recovery that is forecast to build momentum in 2010.

Until this recovery is well underway, no changes to policy rates are likely. The Bank of Canada is expected to maintain the status quo until mid-2010. Once the recovery is well established, central banks will normalize their policy rates, and interest rates are likely to increase.

Fixed vs. variable rate mortgages

One of the biggest decisions homebuyers face is choosing between a fixed or variable rate mortgage. This is not a simple decision, which is why many people are looking for advice to help them decide which mortgage interest type is best for them, based on their personal circumstances. I can help homebuyers and homeowners decide which option best fits their situation and risk tolerance.

Mortgage rates continue to trend at historic lows, despite the fact that fixed rates have edged up recently. In this environment, people who are comfortable without a guaranteed rate are opting for a variable rate mortgage. Such a strategy could result in considerable interest savings.

What homebuyers choose should depend on how they feel about rate fluctuations and their cash flow. For example, a first time homebuyer may want assurance that the rate, payment and repayment schedule will not change, and may be wise to opt for a fixed term. A homebuyer who is not concerned about rate fluctuations may want to take advantage of today’s low variable rates in a bid to save more on mortgage interest over the long term.

Today’s flexible mortgage products let you bridge the gap between these strategies. For example, the RBC Homeline Plan lets homebuyers split their mortgages and enjoy the advantages of both variable and fixed rates within a credit limit of up to 80% of the value of the home. The variable portion offers potential long-term savings, while the fixed rate portion offers rate protection. The dividing line is entirely up to the homeowner.

RBC has many resources available:

· Fixed or variable rate – know your options

· Consider the security of a fixed rate mortgage

· The advantages of a variable rate mortgage



Get more information

RBC publishes free research information. It’s easy to stay informed. Register at www.rbc.com/economics for automatic email delivery of new reports.

Your new home doesn't come with mortgage advice. I do.

Contact me today:
Corey Cunningham
Mobile Mortgage Specialist
RBC Royal Bank
(519) 535-2682
corey.cunningham@rbc.com
http://mortgage.rbc.com/corey.cunningham

The statements and statistics contained herein have been prepared by RBC Economics Research based on information from sources considered to be reliable. We make no representation or warranty, express or implied, as to its accuracy or completeness.

® Registered trademarks of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada. © 2009 Royal Bank of Canada.

New Listing - 585 Sales Dr

Realtor.ca link - MLS #63-341

This is a gorg­eous, well appointed, open concept home, close to 401/403, in immediate vicinity of the new Woodstock Hospital, close to parks and shopping and with all the amenities desired by the modern family. At only 1 year young, this nearly-new home has only been nicely broken in. With durable finishes such as ceramic and laminate flooring, a large double garage, and main floor laundry, this home is ready for your family, while the beautiful kitchen and open concept living room with dramatic cathedral ceiling will impress your guests. Call today to book your private showing! Immediate possession available. All RSA.

Ben Sage, Sales Representative. Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON

New Listing - 597 Sales Drive

Realtor.ca link

RealTour.ca Virtual Tour (Derek McGrath's Virtual Tour!)

This gorgeous new quality built 2150 sq ft Bungalow is waiting for you! The gorgeous stone exterior is just a hint of the quality found in this home! Inside you will find an amazing, open concept floor plan with dramatic vaulted ceilings, a large main floor master bedroom with ensuite bath and walk in closet, main floor laundry room, and an exciting loft with its own bathroom and two more bedrooms. Finished with quality materials such as hardwood flooring in the great room and ceramic tiles in the bathrooms and kitchen areas, and painted in tasteful modern colours, not to mention beautiful dark stained oak kitchen cabinets and oak hand railings. Don`t wait for this one to pass you by!

Ben Sage, Sales Representative. Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON

New Listing - 597 Sales Dr - New Bungalow with Loft! Amazing home!!

MLS # 61-882 (realtor.ca link)

Asking $299,900

This gorgeous new quality built 2150 sq ft Bungalow is waiting for you! The gorgeous stone exterior is just a hint of the quality found in this home! Inside you will find an amazing, open concept floor plan with dramatic vaulted ceilings, a large main floor master bedroom with ensuite bath and walk in closet, main floor laundry room, and an exciting loft with its own bathroom and two more bedrooms. Finished with quality materials such as hardwood flooring in the great room and ceramic tiles in the bathrooms and kitchen areas, and painted in tasteful modern colours, not to mention beautiful dark stained oak kitchen cabinets and oak hand railings. Don`t wait for this one to pass you by!

Ben Sage, Sales Representative. Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON

Haggling over your first mortgage - Courtesy of The Globe and Mail

Reprinted courtesy of Paul Brent and The Globe and Mail

Original Article Here

Special to The Globe and Mail Last updated on Wednesday, Sep. 30, 2009 07:08AM EDT

Building Blocks, a special web series geared towards educating young Canadian families about various personal finance topics, launches today on the globe investor personal finance site. Check out this story on the do’s and don’ts of negotiating your first mortgage, as well as a video where Canada’s banking ombudsman provides tips on what to look for before you sign on that dotted mortgage line. Building Blocks will run online every Wednesday for four months.

You've been to the open houses, explored various neighbourhoods and perhaps even checked out local schools before settling on the home of your dreams. Now it's time to negotiate your first mortgage, a process which done right, could save you tens of thousands of dollars.

Today's low interest rates have made buying that first home easier but it can also breed complacency. Rates will rise eventually so purchasers need to not only find a place they can afford, but ensure that they have negotiated the best mortgage terms possible and educated themselves on the document they are about to sign.

When it comes to mortgages, the first lesson is that not all mortgage lenders are created equal. That become quickly apparent to Naysan and Nahid Hariri, both 28, who are mortgage shopping for a $438,000 home now being built for them in Richmond Hill, Ont. “I found that a couple of institutions were a number of (interest) points higher than others,” he said.

The Hariris also found that the big banks, which tend to have higher posted rates than smaller financial institutions, were reluctant to lower their rates. “My understanding with banks is that if you have services with them, they tend to work out something better for you.” Because first-timers typically have less money parked with a particular institution, they tend not to have the leverage to demand lower rates.

“ Usually they are borrowing a lot more money and there is quite a lot to learn. ”— Lois Volk, mortgage broker

The stakes and the learning curve are higher for first-timers. “Usually they are borrowing a lot more money and there is quite a lot to learn,” said Lois Volk, a 22-year mortgage broker with Invis in Toronto's trendy Beaches neighbourhood. “If they don't know, certainly we go through everything: make sure they are comfortable with the concept, what their payments are going to be, work through a budget if necessary and help them consolidate debt if necessary.”

But before couples even start house shopping, they should meet with their bank to obtain a pre-approval or, at the very least, a rate guarantee, said Martin Beaudry, head of lending underwriting at ING Direct.

Mr. Beaudry said that the difference between the big banks and independent firms is rate transparency. “The big banks start very high with their rates and you need to negotiate the rates down and sometimes they have as much as 1.5 per cent leeway on their posted rates while small institutions like ING Direct will post their lowest rate.”

ING Direct's most popular mortgage term among its customers is its 5-year fixed rate, currently sitting at 3.99 per cent. Five-year, fixed rate mortgages for the big banks range between 5.49 and 5.55 per cent, according to Globe and Mail data. The lowest rate found was 3.94 per cent offered by Meridian Credit Union.

Crunch the numbers

Obtaining a pre-approved mortgage forces new buyers take a long, hard look at not just how much house their bank says they can afford, but how much debt they are willing to shoulder to get into home ownership, combined with whatever else they owe. Be aware that your comfort zone and the lending institution's are not necessarily the same. Banks are in the business of maximizing earnings which could translate into a mortgage which you can afford – on paper at least – but one that leaves little money left over for fun indulgences.

The Hariris, who both work for IBM Canada, decided to determine their debt threshold before sitting down with a financial institution. “The first thing you need to do is figure out your monthly budget,” said Mr. Hariri. “My wife and I sat down for months in advance to see exactly what we can afford, what is comfortable for our lifestyle.”

On their own, they also managed to say the 20 per cent of the purchase price for a down payment so that they don't have to carry the extra expense of mortgage insurance from Canada Mortgage and Housing Corporation (CMHC).

Financial institutions say that mortgage borrowers should devote no more than 30 to 32 per cent of their combined gross incomes to mortgage payments, property taxes and heat. “CMHC will also allow you to go up to 40 per cent or sometimes slightly higher if you have no other debt,” said Ms. Volk, the mortgage broker.

As ING Direct clients, the Hariris are leaning towards taking a fixed rate mortgage with that bank. While financial experts say that over the long term borrowers do better with variable rates, new buyers often opt for the peace of mind that fixed rates offer.

And while the Hariris are not using a mortgage broker to help them hammer out the best deal possible, it is an increasingly popular option. Last year 33 per cent of purchasers used mortgage brokers, up from 27 per cent the prior year, according to a CMHC survey.

Do some research

Mortgage brokers, who are typically paid on a commission basis by lenders, may save borrowers some money on the rates and terms they negotiate, but Ms. Volk says a large part of their role is educating people. “The main things to watch for is terms and conditions of the mortgage.”

With the recent drop in mortgage rates, Ms. Volk says many people have been dismayed to find they cannot take advantage of potentially huge interest rate savings because the “break fee” to get out of their current mortgage is prohibitive. Interest penalties for getting out of your mortgage early vary and may take the form of a three-month interest payment or interest rate differential charge. Make sure to get your lender to spell out the break fee to you, and get it on paper.

Some lenders offer “blend and extend” options which can allow some borrowers to get at least some of the benefit of lower rates. Typically, the penalties for breaking the original mortgage are included in the blended rate calculation so borrowers are not faced with an upfront charge.

Pre-payment privileges are also something first-time buyers should seek for two reasons: Because they are typically early in their careers, they can reasonably expect higher take-home earnings through promotions or switching employers for a better paying job and are able to make additional payments to the mortgage. As well, the interest on mortgages is front-end loaded, meaning that the majority of payments in the early years of 25-year amortization mortgage go to interest, not principal.

The math

Here is why shopping around for the best rate possible is no trifling matter. Take a half-point interest rate difference on a 5-year, $500,000 mortgage with a 25-year amortization period. With a 5.75 per cent rate, the mortgage holder would have monthly payments of $3,125.11 versus $2,979.59 at 5.25 per cent. That doesn't sound like much until you run the 5-year amortization schedule. At the higher rate, the buyers made mortgage payments of $187,506.60, with 72 per cent of that, or $135,086.29, going towards interest payments. At the 5.25 per cent rate, the mortgage holders not only pay $178,775.40 less, but 68.8 per cent or $123,032.28 less goes to interest and more to chipping away at the principal. The difference? A total of $8,731.20 less in payments - $12,054.01 in interest saved and an extra $3,322.81 to the reduction of the principal owed.

The Canadian Association of Accredited Mortgage Professionals has a variety of calculators on its website, including a prepayment calculator, maximum mortgage calculator and a rent vs buy calculator.

Ben Sage, Sales Representative. Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON

Hey CRTC - Don't let monopolies squeeze out the little guy!!

MTS, small ISP take internet fight with Bell to court

Reprinted courtesy of CBC NEWS

MTS Allstream and independent broadband provider Acanac are asking a court to overturn a CRTC decision that grants Bell Canada the right to impose new internet charges on wholesale customers.

The companies, respectively based in Winnipeg and Toronto, have filed a notice of motion with the Federal Court of Appeal that says the regulator made an "error of law" by allowing Bell to go ahead with its usage-based billing plan.

Under the plan, Bell will institute new charges on wholesale customers — companies that rent parts of its network to provide their own internet services, including MTS and Acanac — based on their monthly bandwidth consumption. Bell will set each end user's monthly allowance, then charge extra for every gigabyte above the limit.

The Canadian Radio-television and Telecommunications Commission provisionally approved the usage-based billing plan in early August. A few weeks later, the regulator asked Bell to justify the prices it intends to charge.

In their filing, MTS and Acanac say the CRTC is bound by the Telecommunications Act to ensure that rates for services it regulates are just and reasonable at all times. But since Bell doesn't have to pay itself those rates, the filing says, they are in fact unfair.

"Nowhere [in the order] is there any indication that the commission considered a usage-based charge to be just and reasonable and if it did, what evidence on the record it considered in coming to such a conclusion," court documents say.

Jacqueline Michelis, a spokesperson for Bell, said the regulator made the right decision.

"There is no error in law that would justify the court granting leave," she said.

Companies are able to file appeals with the courts over CRTC decisions if they believe the regulator has made an error in law, or if it has acted outside of its jurisdiction.

MTS and Acanac are part of a campaign started last week to overturn another CRTC decision, which limits wholesale competitors' access to the broadband infrastructure owned by the likes of Bell and Telus. MTS is looking to have that decision, which the CRTC made last December, overturned by cabinet.

The Coalition for Competitive Broadband seeks to muster public support for the appeal, which cabinet must act on by Dec. 11. The government can overturn the CRTC's decision, and send it back to the regulator for a review, or reject the appeal.

Industry analysts have said the access ruling and the usage-based billing decision have left MTS, which sells internet service to businesses across Canada, and smaller wholesale ISPs fighting for their lives.

Ben Sage, Sales Representative. Re/Max a-b Realty Ltd., Brokerage. 519-536-7535. 521 Dundas St., Woodstock, ON

Bank of Canada keeps key rate unchanged

Reprinted courtesy of CBC NEWS

The Bank of Canada left its key overnight interest rate unchanged Thursday as it again warned that a high Canadian dollar poses a risk to economic recovery.

The target for the overnight rate will remain at 0.25 per cent. Economists had expected no change.

The central bank also reiterated its commitment to leave the key rate at that level through the middle of next year as long as inflation remains in check.

The central bank said growth for the remainder of the year will likely be higher than it forecast earlier this summer.

"Combined with recent information on inventory adjustments and automotive production, this suggests that GDP growth in the second half of 2009 could be stronger than the bank projected in July," it said in a release.

The central bank said it still expects inflation will remain low and will return to its two per cent target in the second quarter of 2011 "as aggregate supply and demand return to balance."

Government softens impact of HST on new housing

Reprinted courtesy of CREA


The Government of Ontario is proposing two measures that will soften the impact of the harmonized sales tax (HST) on new housing. The HST was introduced in the 2009 Ontario Budget.

Under the first measure, the province proposes to enhance the new home HST rebate so that it
would be calculated as 75 per cent of the provincial portion of the HST payable on the purchase
of a new home, up to a maximum rebate of $24,000. Under the government’s initial proposal only homes under $400,000 qualified for the 75 per cent rebate.

Similar to the enhanced new housing rebate, the province is proposing a rebate for new residential rental properties. Landlords who purchase new rental homes would be eligible for the rebate, calculated as 75 per cent of the provincial portion of the single sales tax payable on the purchase of a new rental home, up to a maximum rebate of $24,000.

The province is also proposing HST transitional rules for new housing. Generally, as part of the
transitional rules, sales of new homes under written agreements of purchase and sale entered into on or before June 18, 2009 would not be subject to the provincial portion of the single sales tax, even if both ownership and possession are transferred on or after July 1, 2010.

For more information on the HST - click HERE

There you go - buy your new house before June 18, 2010 and save!

Canadian housing starts jump in August

Reprinted courtesy of CBC News

Canada's housing sector continued on the comeback trail in August as home starts for the month jumped more than 12 per cent, according to new figures released Wednesday.

Canada Mortgage and Housing Corp. said construction companies started work on 14,177 new homes in August, for a seasonally adjusted annual rate of 150,400.

The August jump represented a 12.1 per cent increase versus July and reinforced CMHC's belief that the housing sector is seeing a sharp rise in activity.

"Housing starts are trending higher, reflecting improvements in both the single and multiple segments," said Bob Dugan, chief economist at CMHC's market analysis centre.

"The improvement in housing starts is consistent with our expectation of a stronger second half for 2009," he said.

Building rise

Similar to the American housing market, Canada's home sector has seen increased activity, both in new house construction and resale activity, in recent months.

Markets in the two countries had been pounded during the past year as a slumping economy cut house values and reduced the incentive to buy a new abode.

Thus, even with August's increase, housing starts were still down more than 25 per cent compared to the same month in 2008.

Analysts have pointed to record low interest rates and relatively low mortgage costs — currently hovering around four per cent at many institutions — as major factors underscoring the housing comeback.

In a report also released on Tuesday, RBC Economics backed up that point, noting that home affordability in Canada improved in the second quarter of the year.

B.C. gain

The big provincial winner in the CMHC figures appeared to be British Columbia as annualized housing starts reached 17,000 for the country's most westerly province. That represented a jump of 56 per cent versus July's figure.

The Prairie region was the area with the second best growth rate for August, up 16 per cent compared to the previous month while Ontario saw housing starts rise by more than 13 per cent.

Announcing the launch of our amazing new website!

Woodstock/Stratford/St.Mary's is proud to announce the launch of our new brokerage website!

Check it out here -> Remax a-b Realty Ltd

Oxford County Affordable Housing Program

Just a quick reminder about the Oxford County Affordable Housing Program that’s being offered again to buyers who are currently renting. A few key highlights from the program are:

• 10% gifted down payment (non-repayable if they own the home for 20 years or more)
• Maximum combined household income cannot exceed $74,300
• The house must be new build and cannot exceed $189,498
• Not just for First Time Home Buyers, it’s available to anyone currently renting.

For More Info, Visit: www.county.oxford.on.ca/site/2738/default.aspx