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Calgary, February 8, 2008 - According to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC), new construction in the Calgary Census Metropolitan Area (CMA) of single-detached units dropped while multi-family units increased in January. Combined, a total of 711 units were started in January 2008, a decrease of about 11 per cent from the 800 units that were started in January 2007.
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Remember that your Power Team is made up of people who profit when you succeed. This isn't a club with official membership; it's people, companies, and organizations with whom you have cultivated a relationship that benefits you both.
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Half the battle of smart investing is avoiding investment mistakes that eat up your capital. Many common mistakes that people make when investing have been identified and studied in the science of behavioral economics. Watch out for these two. Recommend this article... |
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Is buying a home with no money down a practical goal? Actually, it has become easier than ever. But unfortunately it has also become more necessary than ever, since fewer and fewer people seem to be able to save money. In fact, I would like to respectfully suggest that if you need to buy your home with no money down, you may have a more general problem with your finances that needs to be worked on first. But in any case, there are times when it makes sense to eliminate that down payment, so let's look at four ways to do it. Recommend this article... |
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Understanding the different options a seller may be considering is important when negotiating with sellers. Below are the most common options that sellers may address with you if the sellers are either in default or anticipating being in default.
1. Reinstatement of Loan (Cure): This option is paying the lender everything that is owed in one lump sum to include missed payments, any late fees associated with these payments, foreclosure fees, legal fees and the principal owed during the delinquency. A cure may involve the seller curing or deeding it to the investor "subject to" the exisiting loans, who will cure. There is a risk to the homeowner that the lender may accelerate the loan because of the due-on-sale, and the homeowner no longer owns the property and has no recourse of the investor doesn't pay the loans.
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When we first begin our financial education we are hungry for knowledge. We read everything that comes our way on the topic of real estate, investing, or building wealth in Canada. Books with titles like "Nothing Down" or "97 tips for real estate investors" are sought out and acquired. One theme that remains consistent throughout all of these texts is the importance of using leverage. With a recent change in the CMHC rental property program, some lenders are making it easier to do just that.
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The general rule-of-thumb here is to keep it simple and short. This is where a complete marketing plan comes into play. Almost 80% of homes are purchased by people who currently live or work in the area. In addition to the internet, these buyers check the real estate section of the local newspapers and they read flyers posted at the local supermarket. This is where a complete marketing plan comes into play. Recommend this article... |
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CMHC's Monthly Housing Statistics 2008 December
