Real Estate Newsletter

Dear Reader,

When we walk outside our doors this time of year, it’s not uncommon to be spooked by the haunted sights and sounds around our neighbourhood. While that’s all in good fun, other spooky sights and sounds around your home might not be. For example, maybe you are spooked by a toilet that has suddenly started making strange noises, or you hear a dripping sound from a faucet in the middle of the night that sends shivers up your spine. You may need a plumber if any of those spooky sounds haunt you. If that’s the case, I want you to know you don’t have to be in the dark looking for a plumber or any other contractor you may need. I have a full list of reputable contractors I can recommend for whatever spooky sounds or sights you may discover around…

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Managing Home Insurance

Home insurance seems to be getting costlier every year, with basic premiums continuing to rise as more homes are exposed to added risks attributed to extreme weather events, accidents, vandalism, and outright theft. 

This leaves homeowners in a difficult situation, but there are things that can be done to help ease rising costs. First, examine your current policy and talk to your agent/broker about your coverage and premiums. You might, for example, agree to increase your deductible to decrease premiums. Meanwhile, you may also be eligible for discounts, based on client profiles such as bundled policies (e.g., auto & home), claims history, and payment punctuality.

Other discounts may be available based on steps taken to protect your home from…

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Easy Stucco Repairs

I think agents should do more than just open doors.  Be able to explain the home, from the shingles to the foundation.  To do more than just show where to sign a purchase contract.

 Part of job should be helping clients, and a big part of home ownership, is maintenance and repair.  In this short video, I'll show how easy stucco is to repair.

Click here to open up on YouTube:

Stucco is:

1. durable
2. fire resistant
3. paintable, and
4. easily repaired

With only a few materials and tools, you can repair 20 years of hail damage, instead of having to replace the entire exterior. 

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Genworth vs CMHC - Insurance Underwriters

Genworth Canada Confirms It Will NOT Change Underwriting Policy to Match CMHC

TORONTO, June 8, 2020 /CNW/ - Genworth MI Canada Inc. (the "Company") (TSX: MIC) confirms that it has no plans to change its underwriting policy related to debt service ratio limits, minimum credit score and down payment requirements. One of the Company's competitors announced changes to their internal underwriting guidelines with respect to the aforementioned underwriting criteria on June 4, 2020. 

"Genworth Canada believes that its risk management framework, its dynamic underwriting policies and processes and its ongoing monitoring of conditions and market developments allow it to prudently adjudicate and manage its mortgage insurance…

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Condo Fees? Waste of money? Or Useful?

Many people complain about condo fees, without fully understanding WHAT condo fees actually are, what they do, or how they are calculated.  Let's review a few of these before deciding if the fees are "bad".

What are Condos First, a condominium is a form of group ownership. When you buy an apartment (lets say 100 units, all same size), you are not only buying your individual condo, but a type of real estate that makes you a PARTIAL owners in the ENTIRE building.  In the 100 unit example, you become a 1% in EVERYTHING, for better and for worse.   In real life, we typically break down the fees by the size of the units, with larger units paying more.

What Rights / Privileges / Responsibilities Your ownership stake allows you to vote for the board of…

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