Top 10 Best Dog Breeds for Apartments

Take a peek at our top picks of dog breeds for apartments

Size does matter – especially if you live in compact quarters. Whether you live in a cramped condo, an adequate apartment or closeted quarters, there’s a dog that will fit into your living space. We’ve come up with a list of our Top 10 best dog breeds for apartments.



10. ENGLISH BULLDOG : This medium-sized dog doesn’t like to move around much, so an English Bulldog makes a wonderful dog for an apartment. If this breed could talk, he would tell you he’d much rather hang on the couch than at the dog park. And if you don’t like to move about much, good news – the English Bulldog is just as lazy as you!


9. SHIH TZU:  This regal-looking companion is   small in size and maintenance. She doesn’t need much room to move around in. As long as she’s pampered, she’ll be happy. They aren’t a high energy dog, so you won’t need to make many daily trips outdoors for walks. If you don’t mind grooming all that hair, this may be the perfect apartment dog.

8. CAVALIER KING CHARLES SPANIEL: You’ll be hard-pressed to find a friendlier or easier going dog than this breed. You’ll find that they will make nice with other tenants & dogs in your complex. Plus, weighing in at 13-18 pounds, this dog won’t take up much space. Calm and adaptable, this breed will make a wonderful addition to your apartment abode.

7. GREAT DANE: Now, hear us out. Yes, I realize that the Great Dane is huge (25-29" tall and 100-200 pounds in weight), but this big fella is as lazy as he is big. Sure, he may take up more room in the apartment and on the couch, but he’ll become more of a fixture than an energetic force to be reckoned with. He’s calm, friendly and quiet – what more could you ask for in a roommate for your small living space?
6. CHIHUAHUA: If a breed can fit into your purse, it can fit into your apartment! Weight at 2-6 pounds, she won’t take up much room. Watch out for excessive barking, but this bad habit can be trained down to an acceptable level for apartment living. Affectionate, intelligent & a fast learner, this little princess will be happy with all the attention you lavish on her, not how much room she has to run around in.
5. PUG : Those big eyes, that adorable snort – okay, so these things don’t make a Pug perfect for apartment living, but this breed has a lot going for it. It comes in a handy compact size (Pugs are 10-14 inches high and weigh 14-18 pounds) and it’s cool with just hanging out with you on the bed. Your Pug will need some daily exercise, so a short walk will do.

4.  BICHON FRISE: Oh la la! This fancy French pooch does very well in smaller living spaces. Tipping the scale at just 7-12 pounds, the Bichon Frise isn’t your typical yippy little dog. In fact, this pup will only bark if there is someone at the door. This breed is energetic, so you’ll have to make sure your Bichon Frise gets enough exercise, whether it’s indoors or out at the dog park.

3. CHINESE CRESTED : The Chinese Crested may not be the best looking dog on the block, but this little fella makes up for it by being a loving companion & a wonderful apartment-sized pup. Don’t want to do anything today? No problem! The Chinese Crested will lie in bed with you for hours. A dedicated and loyal friend, this dog is the ideal size for your apartment – and your heart!

2. BOSTON TERRIER:  This little gentleman makes any apartment or condo look good. But you’ll have to keep an eye out on him – sometimes, he can be too smart for his own good and that can lead to trouble. This breed tends to keep its barks to itself, so you won’t have to worry about neighbors complaining about the noise. And his energy level is pretty moderate, so a daily walk will suffice.



1. YORKSHIRE TERRIER: Cute, cuddly and compact – all three make for a great apartment dog. Weighing in at just 6 to 7 pounds, the Yorkie doesn’t take up much space. On top of that, this breed is fairly quiet. She can adapt quickly to new people, situations and pets, so feel free to invite people over. And as long as you give her enough attention, she’ll be happy to curl up on your lap all day.

 











I would add Sheltie to that mix, as when I was in my first place - which was a 1BR apartment, I had a Sheltie; and she was awesome! 

Snow Shovelling Tips : Clearing the Driveway the Easy Way....

 Snow shoveling isn't fun, but it's often unavoidable. In Canada, especially it seems lately in Edmonton, Alberta... we are getting blizzards weekly. At least this week we are on our second one, and this time it does not look like it is going to let up. I have been out 5x today already. Shovelling is a requriement here, and you want to get it off the driveway before it builds up, or worse becomes ice.....And while, yes, you can apply ice-melt products to it after the fact, why waste the money? Even those who use snowblowers often have to "touch up" later in certain areas with a shovel. Consult the snow shoveling tips below to the make the job go more smoothly -- and to make it less boring, as well.

 

1. Snow Shoveling Preparations: Safety, Comfort, Efficiency

As for any yard maintance job, priority #1 in snow shoveling is safety, followed closely by comfort and efficiency. Consider doing the following before you even step outside:

• Stretch your muscles to prevent injury
• Dress in layers to stay warm
• Vow to take breaks: Continuous snow shoveling can be hazardous to the health of those in not-such-great shape
• "Wax" your shovel blade

The idea behind waxing your shovel blade is to make it slippery, thereby preventing snow from sticking to it. But don't take "wax" literally: Although candle wax, floor wax or car wax may be used, Pam spray works fine, too. Also make sure you have a good shovel, the 10 year old one is probably going to make your job harder and may not even be cut out for doing big jobs. Invest in a good shovel, in Alberta it is like owning a touque and winter boots, we gotta have 'em.

2. Staying Safe

The stretching I had you do above is just step #1 in snow shoveling the safe way. Once you step outside and start wielding your shovel, remember the following:

• Bend your knees and lift with your legs
• As you lift the snow, keep the shovel blade close to you, to reduce back strain
• Switch off between snow shoveling right-handed and left-handed, so that you're working different muscles
• Likewise, periodically change your grip on the hand holding the bar (palm under vs. palm over)
• When the snowfall is heavy (1 foot in depth, let's say), don't try to clean right down to the ground with a single scoop. Instead, skim the top 6 inches off, then scoop up the bottom 6 inches. Otherwise, you could be hurting yourself by lifting too much.

 

3. Snow Shoveling Tip for Those Who Park in the Driveway

Save yourself some time and trouble by clearing a path to the driver's door of your car first. Once inside, start your car and turn on the defrosting mechanisms (front and back). Crank the heat full-blast, even though only cold air will come out initially (it will have a chance to warm up while you're snow shoveling).
By defrosting your windows, you make it easier to clear snow (and ice) off them. Besides, when you're done snow shoveling, don't you want a nice warm car to get into?
By clearing a path to your car first, you avoid trampling down snow on the way. Trampled snow has to be removed later, anyway, and it's tougher to remove than unpacked snow.

 

4. Have a Plan Before You Start Snow Shoveling

Leave 2 areas for last:

1. Don't fuss about the rest of the snow around the car just yet. More snow will accumulate there when you clean the car, so you might as well wait till then to clean up around the perimeter of the car.
2. Hold off on snow shoveling (with any degree of thoroughness) where your driveway meets the street. As plows go by, they'll be barricading that area with more snow. Save this area till you're ready to pull out with your car (or till after you've rested up).

Speaking of resting, if you can afford the luxury of clearing a driveway in stages, that's the way to go. If the storm's over, divide the workload into sections; if the storm's still in progress, make a preliminary sweep, then go back after the storm.

 

5. Snow Shoveling the Same Material Twice Doesn't Make Sense

Here's another tip that falls into the "planning" category.
When you're snow shoveling, don't create huge piles right along the edge of your driveway. For one thing, some of the chunks will end up tumbling down back into your driveway, meaning you have to remove them twice. Instead, heave each shovel-full a decent distance away from your driveway.
You'll be glad you did when the next storm makes its deposit: because, when that time arrives, you'll have a little more room to play with.
Likewise, before you start making piles, take into account what areas should be left open. For example, don't dump the white stuff in front of the door of an outbuilding, especially if you plan on clearing a path to it later (why move the same material twice?)

 

6. What to Ponder While You're Snow Shoveling

Because snow removal is about as boring as mowing the lawn, it's a good idea to have a few things to ponder, so as to keep your mind busy. You could always contemplate the meaning of life, but since this is a mortgage blog, I'm going to give you something mortgage orientated to ponder.
As you're wielding your shovel around, do you know where you are in your mortgage, how many months or years do you have left? What your rate is? what are the current rates?  Now maybe the time for a Mortgage Check up come Spring. (which hopefully comes to Alberta soon)

 

7. Snow Shoveling Tip: The Icy "Mulch"?

Jack Frost may be nipping at your nose while you're snow shoveling, but there's no reason for your mind to become as numb as your nose! That's why I'm determined to keep your mind busy while you're slinging Old Man Winter's refuse around.
Here's something else to think about: Since snow is a great insulator (sort of a "mulch," if you will), why not direct some of your tosses into a planting bed? Just be careful on 2 scores:

1. Keep your tosses low: Shrub branches brittle with the winter cold can easily snap off
2. Keep the snow from nearest the road away from your plants: It may be laden with road salt

Some plants are more salt-tolerant than others, but there's no sense in taking a chance.

 

8. Don't Forget Your Shrubs While Snow Shoveling

While on the subject of plants, keep an eye out for shrub branches that are groaning under the burden of excessive snow. To prevent such branches from snapping, gently brush the snow off them.
I mentioned above the insulating value of snow for plants, but it can insulate your foundation, too. Consequently, I line my foundation with shovel-fulls of the white stuff wherever I can. Of course, this isn't a good idea if you have any drainage issues with your foundation.

 

9. Create a Windbreak When Snow Shoveling

Along the same lines, a big snowfall can be turned into a nice windbreak, if you aim your tosses properly. For example if you have a fence along the side of your house, which also happens to be near my driveway, when clearing the driveway in winter, make a point to heave some shovel-fulls up against this fence. This windbreak does double-duty, since it also protects some shrubs on the house-side of the fence from wind damage.

 

10. Would It Be Better to Use a Snowblower?

What better time to evaluate your current snow shovel than when you're out snow shoveling? If you find yourself in pain, it may be due to your equipment. Should you switch to an ergonomic show shovel?
Another thought they may enter your mind when snow shoveling is, "Should I buy a snowblower?" Don't jump to any hasty conclusions. Old Man Winter may have you pretty depressed at the moment, while you're in the process of cleaning up after him. But consider the following objections:

• You may not receive enough snowfall in your area to warrant the investment
• Likewise, if you have a small driveway, a snowblower may not be worth the bother
• Snowblowers take up storage space year-round
• Snowblowers are noisy and require maintenance and fuel

Top 10 Things to Do to Help Sell Your Home... YES Prospective Buyers Do Open All the Drawers & Closets

This top ten checklist was created to help you make your house more desirable to buyers when you put it on the market. The most important thing to do for your sanity and peace of mind is to start to disassociate yourself with your home. For some, more than others, this can be a challenge. Selling your home can be emotional. However, I suggest that you make the mental decision to let go of your emotional attachment to your "home," and think of it as a "house" and focus on the fact that you will be soon living in another home. As hard as it may be, don’t look backwards, but focus forward on your future.

10. DE-CLUTTER! A de-cluttered home feels more spacious – and everyone wants more space.  When you begin this process, ask yourself, “Have I used this in the last year?”  If the answer is “no” then you probably don’t need it so make plans to sell or donate it.  Think of this de-cluttering process as a head start on your packing to move.  Pack up all your knickknacks, remove small appliances and other items from your kitchen countertops, remove books from your bookshelves and put essential items that you use daily in a small box that can be stored in a closet or drawer when not in use. It is also advisable to remove favorite items at this time. If you want to take window coverings, appliances or fixtures with you, remove them now and replace them with something else. If a buyer never sees it, they won't want it.

9) DE-PERSONALIZE! Protect your privacy and pack up your personal family heirlooms and photographs.  Don’t distract buyers with your treasures.  Instead, provide them with the space to image where they will place their personal family photographs and treasures.  Furthermore, and I apologize if I offend, but for the most part, religious objects should be put away while showing your home too. Whatever your personal beliefs may be, they may be diametrically opposed to that of the family that wants to purchase your property, and can in some cases be an issue.

8) MAINTENANCE!   You might not care if the gutters fall off the house because they are choked with leaves – but your buyer does! If you aren’t performing maintenance on the visible aspects of your home, it’s going to raise suspicions about what remains unseen. So, clean the gutters, power wash the siding, weed the garden beds and make sure that all those odd jobs that you’ve been putting off are taken care of. Get the furnace cleaned, check the fireplaces, and check the roof for loose shingles and leaks.  Take the time to fix leaky faucets, replace burned out lights and fix doors that don’t easily close or drawers that jam. It’s pay now, or REALLY pay later on these issues!

7) DON’T BE LAZY-MAKE YOUR HOUSE SPARKLE!   Be proud of your house and show it in its best light.  Take the time to wash the windows inside and out, clean out the cobwebs in the corners of your basement. Dust ceiling fans and light fixtures, re-caulk tubs, showers and sinks.  Polish chrome fixtures, remove fingerprints from stainless steel appliances and mirrors.  Clean out your fridge, vacuum and wax floors.  Rent a power washer and make the pathway to your home look great!  Make sure visitors can clearly read the number of your house.  Paint walls that are showing major wear and tear, like children’s bedrooms, and hallway in neutral colors.   Invest in new towels; (white ones always freshen a bathroom up!) replace worn rugs. Air out your house and make sure it smells nice, not musty.  It may sound over the top, but be super-organized for those buyers that revel in snooping.  Take the time to rearrange bedroom closets and kitchen cabinets. By lining up your shoes, and organizing your clothes to have them all hang and face in the same direction you will give the illusion of more space.  Likewise, in the kitchen neatly stack your dishes, arrange your spice jars and turn coffee mug handles to all face the same way.

6) CLEAN OUT THE GARAGE AND RENT A STORAGE UNIT! You don’t want your home to appear as though it doesn’t have any storage space.  Make sure your garage is functional. People are looking for space and storage – if it looks like you don’t have any – you’re not selling your house properly.   Almost every home shows better with less furniture.  Stage your home to highlight space. Leave just enough furniture in each room to showcase the room's purpose and plenty of room to move around. Remove pieces of furniture that block or hamper walkways and put them in storage. Store the empty book cases you created in your de-cluttering step. Remove extra leaves from your dining room table to make the room appear larger.
 
5) KNOW THE NEIGHBOURHOOD! Above and beyond knowing your neighbourhood, know what sells in your neck of the woods. Are you surrounded by condos and you have a single family home? Are there tons of 4 bedroom homes that sell like hotcakes, and you only have three? What will that mean? Can you make it up with other features in your home, - like a spacious den that could double as a bedroom – or maybe a room over the garage with potential? You need to know what is selling in your immediate surroundings, and even more important, what is NOT.

4) SET A REALISTIC BUDGET!  If you want to do some upgrades in your home before you put it on the market, don’t over or under improve for your area. If you live in an area that caters to first time buyers in a certain price range, expensive upgrades may push you out of their price bracket. You want the house to look good, but don’t overextend yourself.  Likewise, if you live in a high priced neighbourhood, where 75 to 100 thousand dollar kitchen renovations are the norm, don’t try and get away with an inexpensive upgrade. You won’t see any return in your investment – in fact – you are better off doing nothing but maybe adding some fresh paint and light fixtures, and pricing your home to reflect the lack of updates.

3) CALL YOUR MORTGAGE BROKER!  Make sure you know what you can afford. Nothing could possibly be worse than finding out your “dream home” that you wanted to buy is out of your reach – and you just sold the home that you could have easily remained in! Interest rates change, as do your qualifications –Stay current.

2) CALL YOUR REAL ESTATE AGENT. If you don’t have one, talk to people whose opinions you trust. Don’t be afraid to interview several real estate agents and ask them for honest opinions.  When dealing with selling your home, you’ll need someone that will tell you the truth, even if it may not be what you hoped to hear. Of course, you could go with the one that says everything that makes your heart sing – but that song could change if your home languishes on the market.

1) PRICE YOUR HOME RIGHT!  If you’ve done everything else, then you should know all the “ins” and “outs” of “what’s out there.”  Don’t ruin all your hard work by pricing your home too high. Buyers won’t look at it, and they certainly won’t offer, especially in the first month. The longer your home is on the market, the less desirable it appears to be. Sometimes, that can’t be helped because of other factors, but trust me, if you price your place right, it WILL SELL.

This ten-step checklist was created to help make a huge difference in the success of your future home sale and your ability to move to your next property, whether you are downsizing, or you need more space.

Taken from Urban Suburban
HGTV
Sarah's Top 10
http://www.hgtv.ca/urbansuburban/article/sarahs-top-ten-things-to-do-to-sell-your-home/

LOCAL HOUSING MARKET REMAINS ACTIVE (Edmonton)

Edmonton, March 4, 2013
The REALTORS® Association of Edmonton reports:

That the housing market in the Edmonton CMA1 remains active. Residential listing activity was up 10% as compared to January and sales increased by 18.2%. The all-residential price (includes single family detached, condominiums, duplexes and row-houses) rose 4.3% in a month.

While the average price for a single family detached home broke through a psychological barrier at $400,973 in February ($399,832 in January), it was up just 0.3%. Condo prices showed stronger gains, rising 7.3% from January to $231,866. Duplex and rowhouse prices were also up month-over-month at $332,285 on average. The all-residential average price was $342,735 (up 2.9% from February 2012).

“REALTORS® were busier last month than in January both listing and selling more homes,” said President Darrell Cook. “As usual, sales activity will continue to increase as we move into spring. The inventory of available homes has increased and we expect hesitant sellers to come onto the market in the face of continuing strong prices.”

The pattern of sales in various price ranges has changed this year. “Confidence in the strength of our local economy and a shortage of attractive properties at the lower end of the price range are both moving consumers to consider higher priced properties,” said Cook. Sales of properties priced $425,000 to $550,000 have increased 19% so far this year, whereas sales of properties in the $200,000 to $375,000 range are down 9.6% compared to the first two months of 2012.

As of February 28, 2013, there were 4,183 residential properties listed in the MLS® System which reflects a 4.14 month supply at current sales levels. The days-on-market was 57 as compared to 53 last year. With an estimated 1,089 (1,008 reported) homes sold and 1,995 homes listed in February, the sales-to-listing ratio was 55%, up 4% from a year ago. Total Board sales for February were $470,309,954.

The figures above represent the sales in the Edmonton CMA1 as defined by Statistics Canada and includes the City of Edmonton and all municipalities in the four surrounding counties of Parkland, Sturgeon, Leduc, and Strathcona. Sales figures for February 2013 have been adjusted to anticipate sales during the month which will be reported after the data cut-off so as to compare more accurately with prior period figures.

REALTORS® in the Edmonton CMA and surrounding areas (including St. Paul and Cold Lake) contribute actual negotiated list and sale prices on a daily basis and are the most reliable source of pricing data in each local area and the entire market.

-30-

MLS® System Activity (for all-residential sales in Edmonton CMA1)

February 2013		M/M % Change	Y/Y % Change
SFD2 average3 selling price – month	$400,973	0.29%	4.31%
SFD median4 selling price – month	375,500	-0.29%	4.31%
Condominium average selling price	231,866	7.28%	-0.55%
Condominium median selling price	212,450	2.14%	-4.30%
All-residential5 average selling price	342,735	4.33%	2.87%
All-residential median selling price	326,940	3.79%	2.17%
# residential listings this month	1,995	10.10%	-11.29%
# residential sales this month (estimated)	1,089	18.17%	-5.50%
# residential inventory at month end	4,183	11.76%	-13.22%
# Total6 MLS® System sales this month	1,473	20.90%	-5.30%
$ Value Total residential sales this month	$407 million	25.40%	-8.83%
$ Value of total MLS® System sales – month	$470 million	25.90%	-11.06%
$ Value of total MLS® System sales - YTD	$871 million	21.60%	-13.24%

1 Census Metropolitan Area (Edmonton and surrounding municipalities)
2 Single Family Dwelling
3 The total value of sales in a category divided by the number of properties sold
4 The middle figure in a list of all sales prices
5 Residential includes SFD, condos and duplex/row houses.
6 Includes residential, rural and commercial sales

 EDMONTON MARKET IS STILL HOPPING!!!! 

CALL ME TODAY 

TO GET YOUR FREE MORTGAGE CHECK UP OR PRE APPROVAL!!!

ARIANA LEROUX

MORTGAGE AGENT 

LICENSED WITH TMG

 780.952.4087 MOBILE

                                                    MORTGAGES@ARIANALEROUX.COM

CMHC firm on not disclosing foreclosure information...‘We don’t want … low-ball offers’:

National PostMark McInnis, vice-president insurance underwriting, servicing and policy with CMHC, said the CMHC policies on disclosure have been in place for decades. Canada Mortgage and Housing Corp. is making no apologies over its tactic of not disclosing a house has been repossessed when it puts the home back on the market.

The Crown corporation says it is acting like any other seller — just trying to get the best offer it can. Critics charge CMHC should disclose more information, given its role as Canada’s national housing agency.
“We don’t want to attract low-ball offers,” said Mark McInnis, vice-president insurance underwriting, servicing and policy with CMHC.
Mr. McInnis agreed to discuss CMHC’s policy on repossession in the wake of a Financial Post story on Wednesday that said Quebec realtors were balking at a demand to not disclose the fact properties the Crown corporation was selling were previously repossessed.
The agency said listing a property as foreclosed just muddies the waters and brings in offers that are less than genuine.

"We don’t want to attract low-ball offers"

“We establish our target prices and we stick to our guns,” said Mr. McInnis. “It’s more efficient to deal with people who are paying fair market value.”
At this point the question of whether to disclose the fact properties are part of a repossession is mostly philosophical given that only 0.32% of Canadian mortgages are in arrears, according to the Canadian Bankers Association.
On top that, CMHC says it ends up as the seller only in about 20% of cases in which the property is distressed; the rest of the time the bank sells the home and sends the bill to Crown corporation for any shortfall between the price it gets plus costs and what the mortgage was insured for.

In Canada, anyone buying a home with less than 20% down and borrowing money from a financial institution covered by the Bank Act must have mortgage default insurance. CMHC, which controls about 75% of the insurance market, is ultimately backed 100% by the federal government.
Mr. McInnis said the CMHC policies on disclosure have been in place for decades. He said the agency can end up with properties in a slow market in which the lender can’t sale the home.
“I’ve been in this business for over 30 years and this has always been our policy,” he said. “It’s always better to have people come in and look at a property and make a decision on whether it something they are interested in buying and then you can have the conversation about who owns the property and what the specific conditions of that are and the fact it is a foreclosure.”
CMHC has no legal obligation to say in the listing that the property was part of foreclosure and say its only obligation would be if there was an issue like a foundation crack.

If the buyer finds out, absolutely the buyer puts in a low-ball bid John Andrew, a professor at Queen’s University who specializes in real estate, wonders whether the CMHC has some sort of special responsibility. “As a Crown corporation, they have a responsibility to encourage good business practices too,” said Mr. Andrew. “The real estate industry is all about transparency and disclosure. That disclosure [about repossession] is a key piece of information. A house that has been foreclosed on is a house that is more likely to have sat vacant for a considerable period of time and probably more likely to have not been maintained well.”

Rob McLister, editor of Canadian Mortgage Trends, said he doesn’t blame CMHC for not disclosing foreclosure information because it means a better price. “If the buyer finds out, absolutely the buyer puts in a low-ball bid,” said Mr. McLister. The chief executive of the Québec Federation of Real Estate Boards, Hélène Morand, said last April it was auditing brokerage contracts and noticed there was request that homes that were repossessed not be mentioned on a detail sheet.
“We don’t have any idea if CMHC issued a new rule,” said Ms. Morand. “We were doing quality control and we noticed a new clause on brokerage contracts.”
The Quebec group has agreed that brokers now have the choice to leave blank information about whether a home was repossessed.

Taken from Financial Post
Garry Marr:   13/02/28

Mortgage shopping has never been easier — so what’s stopping you?

Canadians may finally be grasping the obvious when it comes to how to get the best mortgage rate. Shop around. Savings are basic once you are armed with information about the best rate and the best product. It has never been easier thanks to the Internet. Google says it saw a 50% jump in the number of people using the term mortgage after one of the major banks announced it was cutting its five-year posted rate 10 basis point to 2.99%.

It is a relatively modest change but it comes as the spring market is about to kick in and consumers are thinking about purchases. David Resnick, head of industry and financial services for Google Canada, says consumers actually start ramping up their search engines in January when they begin thinking about buying. “We are seeing relatively similar volumes in mortgages that we saw last January,” said Mr. Resnick. “Whether it translates into home sales will depend on market forces but there is pent-up demand for housing based on what consumers are searching.”
The searching can yield some considerable savings, based on a recent study of the Canadian Association of Accredited Mortgage Professionals. It found the average consumer was saving 1.85 percentage points on a five-year mortgage in 2012. In real dollars what does it mean? Consider a $500,000 five-year mortgage at 3% versus say 4.85%. At 3% your monthly payment is $2,366.23 and your total interest over the term would be $69,346.66. Bump it up to 4.85% and the monthly rate goes to $2,865.48 and the total interest moves to $113,415.89.

Is there any reason to take the posted rate today, if you have an Internet connection?
CAAMP’s data shows first-time buyers get the need to shop around. The group’s annual survey found 47% of people who took out a new mortgage in 2012 used a broker.
“I think there is a whole generational thing that is happening with first-time buyers [using a broker],” said Jim Murphy, the chief executive of CAAMP.
But as educated as consumers have become, somehow that all goes out the window when it’s time to renew a mortgage. The same CAAMP survey found only 27% of consumers renewing a mortgage consulted a broker in 2012 – a percentage on the rise but still woeful when one considers the lost savings. “They get something in the mail from the local lender six months before renewal telling them they are happy to offer you their best rate. Most of those people should be shopping around, a lot do but as your mortgage gets smaller, a quarter point doesn’t make a huge difference,” said Mr. Murphy. That might be true as you whittle your mortgage down over time but by the time you get to your second mortgage, unless you’ve been making accelerated or lump sum payments, there is still much to be gained by shopping.

To go back to that $500,000, if you just make that monthly payment even at a 3% interest after five years you’ll be looking at signing a new mortgage for $427,372.86. Renewing at the posted rate for another five years would costs you more than $35,000 in interest over the next five years based on that 1.85 percentage point gap. John Andrew, a professor at Queen’s University who specializes in real estate, says so much is negotiable in the mortgage sector, anybody not trying is missing out.
“I used a mortgage broker. Sure, they get paid by the lender and they have incentive to do business with certain companies over others but they are shopping around for you,” said Mr. Andrew. “They can probably get you a better rate than you can for yourself.” He thinks while the Internet has helped people with negotiation, most are still scared to shop around. Mr. Andrew notes it is not just about rates but also the rules within the mortgage contract like the ability to make extra payments.

The key is to shop around. Not just on your first mortgage but every mortgage. That’s something Canadians still must learn.

From Financial Post
Garry Mar:  13/03/13 | Last Updated: 13/03/13 6:54 AM ET

Come see a mortgage broker/agent, to see what all your mortgage needs could be, and so they are met. We give you better options/rates/information usually than your typical "banker".
Ask me today for your Free Mortgage Check Up?

Ariana Leroux

Happy St. Patricks Day!

HAPPY ST. PATRICK'S DAY 

MARCH 17, 2013

The Competitive Mortgage Market- It Is Not Always About Rate

The recent announcement that BMO has lowered its 5-year fixed rate from 3.09% to 2.99% has caused a flurry of speculation from market analysts and warnings from the federal government.

For the past year the Bank of Canada has been warning that high household debt levels, the bulk of which come from mortgages, are the largest risk facing the country’s economy. BMO’s recent rate cut prompted Finance Minister Jim Flaherty to issue a warning to the country’s banks that he expects prudent lending practices – not the type of ‘race to the bottom’ practices that led to a mortgage crisis in the United States.

It’s clear that in our current market where homes sales have slowed and the spring buying market is kicking into gear, that competition is strong among lenders. Mortgage lending is a large part of their bottom lines.  Gord Nixon, CEO of Royal Bank of Canada, the country’s largest mortgage lender said in a conference recently, “There is no question that the Canadian banking industry is facing slightly slower growth as a result of slower mortgage demand.”

Lower rates could interest more buyers this spring, and might encourage some buyers to take out larger mortgages than they otherwise would. So, despite the government’s rule changes this past year, and despite its urgings to lenders, growing market share triumphs.

According to Canaccord Genuity analyst Mario Mendonca, BMO has been seeking to bolster its mortgage sales since it stopped using mortgage brokers about four years ago. It still has the lowest mortgage market share among the five largest banks.

The interesting part of all this is that some lenders’ fixed rates are actually lower than what BMO has advertised – the difference is that BMO actually announced it. For the past month or so mortgage brokers have had access to rates trending down from 3.04% to 2.89% for 5-year fixed to 2.69% for 3-year rates.

Mortgage consumers should also look at BMO’s product and read the fine lines because there are restrictions, which, of course, are not advertised. They include the following:

1.  You only get 10%/10% prepayment privileges. many other lenders give homeowners the option to increase their monthly payments by 20% or more each year, as well as make lump-sum payments on the original mortgage in that same percentage range.
2.  You can’t skip a payment or access a mortgage cash account. Skipping a payment, should you need to, is not an option.
3.  You can’t transfer your mortgage to another lender until your term is up. Throughout your 5-year term, the only way you can refinance, transfer or payoff the balance of your mortgage, is if you stay with BMO while doing so, or sell your home. It’s not uncommon for homeowners to break their mortgages early.

While 2.99% offer may seem attractive at first, the product may not be the best one for your situation. Mortgage brokers can offer consumers similar and even lower rates, in a mortgage product that best serves the client.

(from TMG, Mortgage Blog March 7, 2013)

** now with a side note to this, I do have better rates than the 2.99% quoted in the article for qualified clients... the biggest difference than this is that they still have full bells and whistles. What I mean by that, is 15/20% pre payment options, match a payment and raise your payments by the 15/20%, as well as portability etc.... this article is right, it is not always about rate, however rate does help. You just need to be careful that rate is not ALL you focus on.....you want the rate with all the trimmings. Let me explain.... what would Christmas dinner be if you only had the Turkey? Turkey is a focal point for sure, but is that all that is needed? What about the potatoes, cranberry, gravy, pumpkin pie etc..... all together it makes Christmas Dinner ... same goes for your mortgage. You need the rate, along with all the bits and pieces :) It is something you are going to have for quite some time... but you do not want it to be forever and it needs to be done so it weathers lifes changes.

 Talking to a mortgage agent is your best option in learning all your options! Give me a call today! I think "Outside of the Box" .

Ariana Leroux

Licensed Mortgage Agent with TMG

780.952.4087 (mobile)

mortgages@arianaleroux.com

www.arianaleroux.com

SAVE MONEY ON YOUR MORTGAGE

PSST... HAVE YOU HEARD YOU CAN BE MORTGAGE FREE SOONER???? Paying off your mortgage faster has the excellent benefit of reducing the amount of interest that you pay on your mortgage. How? By using privileges provided by the lender. There are two types of mortgages; open and closed mortgages. OPEN mortgages there are no limits as to how fast you can pay down your mortgage; however you do pay a higher interest rate for this privilege. Typically, this type of mortgage is used by real estate investors who know they are only going to hold the property for a short time. Their interest expense is also tax deductible. CLOSED mortgages are the preferred choice for owner occupied properties and also offer privileges for paying down the mortgage faster with the ultimate benefit of reducing the interest you pay over the life of your mortgage. These programs differ from lender to lender; at the end of the day you would not choose a lender based solely on this. Payment Privileges offer a Few Different Options: Annual or periodic lump sum payments: Payments of up to 15%, 20%, or even 25% of the original principal amount are allowed each year. Increase your payment: You may also increase your current payment by up to 15%, 20%, or even 100% each year. Double your payments: Some lenders also offer the option of doubling any and all payments. The above options are "non-cumulative": Lenders embrace a "use it or lose it" policy, meaning that if you do not use your 15% or 20% privilege in year one, you cannot make a 30% or 40% lump sum payment is year two. Passing up on privileges in any one year does not affect your privileges in future years. Accelerated or rapid payments: With each payment (weekly, bi-weekly, or semi-monthly) you apply a small incremental amount of money directly to the principal. This privilege is designed so that every 12 months you make the equivalent of 13 payments. An example of how taking advantage of even one of these privileges can save you thousands is easily illustrated with the Accelerated Payment Privilege. On a $280,000 mortgage that is amortized for 35 years at 5.3%, the regular bi-weekly payment would be $671.54. The accelerated bi-weekly payment would be $728.36. This would allow you to pay your mortgage off in 28.4 years. Using a constant interest rate, you would save $73,068 in interest expense. If you were to make a lump sum payment of 2% each year on that same mortgage and just make regular payments, you would pay off the mortgage in 19.75 years and save $161,451 in interest expense...all for an investment of only $5,600 each year, and you would be mortgage free 15.25 years earlier!                       ITS MONEY THAT GOES BACK INTO THE PIGGY!

Can your mortgage broker do this?

     







This is something I do for my clients on a regular basis, 24/7. Can you say the same about your bank? or even your current mortgage planner? 

If you want to save time, reduce your legwork, understand all your options & make sure you find the best possible deal - a licensed Mortgage Associate is the ideal solution. The best news is that you can get started without even leaving your house or office; you can even do while you are on vacation or a business trip. Take advantage of the expert knowledge provided by a; TMG Mortgage associate to make an informed mortgage choice. 

          Benefits of using a Mortgage Associate

• Access to numerous lender's & products -One Credit Pull
  
• Products available exclusively through Brokers - Monitors Rate Drops
  
• Works on your behalf - Free of Charge(OAC)
  
• Access to new products immediately
  
• Long term relationships
  
  Mortgage Associate vs. Bank Representative
  
  When you're looking to get a mortgage loan, you may work with a bank representative or you may choose to work with a Mortgage Associate. People often confuse the two job types even though both will glean the same results: a new home, refinance, transfer, equity take out etc. However, it is important to understand the difference between the two types of jobs so you know what to expect from them during the mortgage application process.
   
   A bank representative, works only the institution they are employed at, ie RBC, TD or BMO. They can only offer what that intuitions products and services are. Typically the bank representative also can complete RRSPs, Mutuals, Visas, open bank accounts and a multitude of other bank-only-products. To get discounted rates from your bank you have to negotiate, and you will not know if you got the "best rate" you could get, or if you are in the "best product" you qualify for. You are also on the institutions time for appointments, typically 10-4pm and some now are open on weekends and evening. But with limited office staff, as it is only the front line that gets busy (tellers).
  
  A Mortgage Associate is an individual or firm that acts as an independent agent for both the borrower and the lender of a mortgage loan. Mortgage Associates are intermediary between you & the lending institution, which can be a bank, trust company, credit union, Mortgage Corporation, finance company or even an individual private investor. A Mortgage Associate will analyze your financial situation to determine which lender is the best fit for your mortgage financing. He or she will submit your mortgage proposal to one or more lenders and works with the chosen lender until the transaction closes. In most cases, the mortgage lender pays the commissions! Mortgage Associates work independently from any one financial institution and work for the prospective mortgagor(s) to secure the best financing solution for each client(s). 
  
  Really I can put it down to a few phrases, a Mortgage Associate is a Specialist in what they do, mortgages. As a mortgage associate, we live and breath mortgages, and always have our fingers on the pulse of the industry. We also have other associate contacts, Realtors, Lawyers & Inspectors to help make your home buying process as smooth as possible. With the bank representative, you are only have access to one lenders product, and a representative that also works in several other aspects. The old adage,  "Jack of all trades - Master of nothing" may come into play here on several levels. 
  
  If you choose to work with a Mortgage Associate, doing a bit of home work there can help you as well. Being with TMG I am part of a group of the largest Mortgage Agents in Alberta - allows me access to the best of the best! Rates, Products..... OPTIONS!  I work 24/7, and am always available via multiple forms of communication. If you ever have questions about your current mortgage, or your new potential home purchase please feel free to give me a call. It is a free consultation :) 
  
  
  
  Ariana Leroux
  Mortgage Associate with
  TMG, The Mortgage Group AB
  780.952.4087 mobile
  arianaleroux@gmail.com
  www.arianaleroux.com