Robert J. Morrow: Editor & REALTOR(R):
email@example.com (905) 536-4644
Hamilton Home Review:
Copyright 2010-2018 Robert J. Morrow
All investor purchases are brokered by a licensed real estate agent who is a member of Venture Property Investments, the Canadian Real Estate Association, and the Ontario Real Estate Association As such, they are bound by the code of ethics and fiduciary commitments required by Canadian law and Organized Real Estate.
Chase Realty Inc., Brokerage
398 Wilson St. E, Ancaster ON
Self-employed increasingly turning to private lenders for mortgage
The self-employed are among the growing number of Canadians turning to private lenders in order to obtain a mortgage.
While many prospective homeowners are driven to alternate lenders because of government-mandated stress tests and poor credit scores, the self-employed often have additional burdens to overcome in proving their income. more
Real estate agents typically pray for nice weather when taking buyers on property tours, but Claude Boiron prays for rain.
“I’m a big fan of taking buyers to see properties and pointing out the things that will change,” Boiron told REP. “For example, where’s the snow going? I’m in touch with buyers for, often, more than a decade after they’ve bought their properties and these are the things that come up. It may be odd to say this, because many brokers pray for good weather, and I hate to be a contrarian, but I pray for rain. In the GTA, we have a lot of old products in the housing stock and one of the biggest issues is how the foundation holds up. If it’s not professionally waterproofed with receipts and warranties to prove it, then a really, really rainy day is the best time to see a basement.” more
Bank rates on hold till 2020
The Bank of Canada is done raising interest rates until at least the end of next year, with a serious risk of a cut by then as policymakers become more wary of slowing growth and global trade tensions, a Reuters poll showed on Friday.
The central bank, which last raised its overnight rate in October, abandoned its tightening bias last month, putting it more in line with peers like the U.S. Federal Reserve and the European Central Bank.
All 40 economists in the latest poll taken May 21-23 said Governor Stephen Poloz and fellow policymakers would hold rates at 1.75 per cent at the May 29 meeting. more.
Located on the Central Mountain, this bungalow has been recently reno'd so the upstairs is ready to go. Downstairs is finished with bath and bedroom, but we have lots of space for a second bedroom and kitchen.
Estimated renovations: $32,000 for a legal duplex.
They tried to hold back offers but it didn't work (a REALTOR(R)'s nightmare), so I think we could get it for below list. If done properly, this could be an $80,000 instant ROI!
Rents in this neighbourhood are apx $1750 up and $1400 down (for a 2 bdrm)