Adults Still Living With Parents
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A survey of potential first-time homebuyers found that 29 per cent between the ages of 21 and 34 are living with their parents while saving for their home down payment.  While it is no surprise that those under the age of 30 are staying home longer, whether to attend school or save for a home purchase, what is surprising is the number of adults in the 31 to 34 years old category who are also still at home! The survey found a considerable gap between potential first-time buyers' expectations and their realities when it came to planning and saving to buy a home. "We found that, although most young people would like to purchase a home within the next few years, most do not have a practical plan to get there." According to the survey, adults between the ages 21 and 34, on average, have been saving for their down payment for only 1.6 years, yet expect to take only a total of 3.8 years to save enough to commit to a purchase. The average reported savings rate (as a percentage of pre-tax income) of those who live at home with their parents, 16.6 per cent. Those who are currently renting, 11.0 per cent. What amazes me is that both the U.S, and Canadian government have reduced or suspended first time buyer incentives or incentives with savings regarding down payments. Mother Nature had it right in the bird kingdom, when you can fly, bye bye. With humans, she must have had a bad night! |
City of London
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Maps,parks,schools,churches,city hall departments, codes and regulations and much more
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GREAT BUYER SITES TO VISIT!
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Canada Mortgage and Housing Corporation
Great information for home buyers, insurance, qualifying, money saving ideas, loan and equity ratios and much more.
Visit www.cmhc.ca
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Is a Home a Good Investment?
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As a fairly general rule, homes appreciate about four or five percent a year. Some years will be more, some less. The figure will vary from neighbourhood to neighbourhood, and region to region. Five percent may not seem like much at first. Stocks (at times) appreciate much more, and you could easily earn over the same return with a very safe investment in treasury bills or bonds. But, take a second look ... Presumably, if you bought a $200,000 house, you did not pay cash for the home. You got a mortgage and lets say you put as much as 20% down, that would be an investment of $40,000. At an appreciation rate of 5% annually, a $200,000 home would increase in value $10,000 during the first year. That means you earned $10,000 with an investment of $40,000. Your annual " return on investment" would be a whopping 25%! Of course you are making mortgage payments and paying property taxes, along with a few other costs. Your rate of return when buying a home is much higher than most any other investment you can make. If you would like to know more about other home buying ideas or tips, let me know and I will gladly see that you are informed and knowledgeable before you purchase. |
Can't Make a Decision To Buy Real Estate?
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We all have been there and later say we should have or could have or have heard the stories, Here is a Buyer's lament that I feel covers it all: I hesitate to make a list
Of all the countless deals I've missed;
Bonanzas that were in my grip -
I watched them through my fingers slip;
The windfalls which I Should have bought
were lost because I over-thought;
I thought of this, I thought of that,
I could have sworn I smelled a rat,
And while I thought things over twice,
Another grabbed them at the price,
It seemed I always hesitate,
Then make my mind up much too late,
Avery cautious man am I And that is why I never buy. When tracts rose high on
Sixth and Third,
The prices asked I felt absurd;
Whole block-fronts bleak and black with soot-
Were priced at thirty bucks a foot!
I wouldn't even make a bid,
But others did -- yes, others did!
When Tucson was cheap desert land,
I could have had a hip of sand;
When Phoenix was the place to buy,
I thought the climate much too dry!
"Invest in Dallas-That's the spot!"
My sixth sense warned me I should not,
A very prudent man am I And that is why I never buy. A corner here, then acres there,
Compounding values year by year,
I chose to think and as I thought,
They bought the deals I should have bought.
The Golden chances I had then
Are lost and will not come again,
Today I can not be enticed
For everything's so overpriced.
The deals of yesteryear are dead;
The market's soft -- so's my head! Last night I had a fearful dream,
I know I wakened with a scream;
Some Indians approached my bed --
For trinkets on the barrelhead,
(In dollar bills worth twenty-four,
And nothing less and nothing more),
They'd sell Manhattan Isle to me,
The most I'd go was twenty-three.
The redman scowled: "Not on a bet!"
And sold to Peter Minuit. At times a teardrop drowns my eye
For deals I had, but did not buy;
And now life's saddest words I pen
"If only I'd invested then!" As you can see, you are not alone. I can help you through the decision process with facts and research, you are in charge of your emotions. If that works for you, let's get together. Ty |
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In Real Estate, Who Should You Take Advice From?
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I was helping an agent in my office today with her frustrations in dealing with a couple who were getting advice from a multitude of sources. In the end, her transaction fell through and the young buyers are so confused, discouraged and scared that they will put off purchasing soon. To disguise this couple and my agent here are some comments I have heard from both buyers and sellers: - Always go in with your first offer at least 25% less than asking. ( When asked, this father last purchased a home in 1974 and "That's what everyone does!".
- We want some wiggle room in our price of our house, so lets increase the price by $20,000 so we can negotiate. No one offers a real price the first time. (When asked, this defense lawyer who does not practice real estate law says that everyone does! Hmmmm, really, so the consumer with all the knowledge available are stupid and blind, I ask? )
- Don't be stupid, only deal with the listing agent, he or she will not have to pay extra commission because no other agent is involved! (After further questioning and probing, this cousin bought an overpriced house in not the best neighbourhood)
There are many more of these but it is frightening to what buyers and sellers hear.  If I was going to get my car fixed, I would go to a mechanic, not a jeweler. If I want my shoes repaired, I'll go to a shoe repairer, not a tailor. Know where your advice is coming from. Trust a REALTOR® for real estate advice. If you are not sure, ask another REALTOR®. You will be happy you did! |
Your Key To Success Finding & Buying Your New Home
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Envelope Buyer Program First Look
Welcome to First Look, an exclusive buyer satisfaction program available only through Envelope Real Estate Brokerage Inc!  Studies show that so far in 2009, 65% of the real estate buyers were definitely satisfied with their sales representative. Think about that – that means fully 35% were not! The same study indicated buyers expect their sales representative to perform very few functions. For repeat buyers: 1. 62% wanted their sales representative to find the right house, 2. 19% wanted their sales representative to negotiate the price after checking against comparable prices, and 3. 14% wanted their sales representative to complete the paperwork properly. This is not a long or complicated list! How one third of all buyers could be dissatisfied with the performance of their sales representative? Let me let you in on a little secret. Most sales representatives don’t plan to take care of their clients! No, I don’t mean they don’t intend to satisfy their clients. They do. They generally have the best of intentions. They just don’t have a plan to accomplish what they intend. Ever hear of the old phrase “A failure to plan is a plan to fail?” Well, welcome to the world of the average real estate practitioner. And it doesn’t matter how many letters or designations you can find after their name. It’s always the same. They have no systematic way of helping a client through the home buying process. That’s exactly why the First Look buyer program was made available. It’s a unique system specially designed to consistently deliver customer satisfaction by addressing the three primary goals of buyers mentioned above. More specifically, it’s a step-by-step blueprint to ensure client satisfaction – not a haphazard approach depending on the crisis of the day. Now some of you might be saying “I don’t want a rigorous program. The right house for me isn’t going to be the same as for someone else”. And you’d be quite right – the right house for you is going to be different. However, let me ask you this: Regardless of your destination, would you want the pilot flying your airplane to use a checklist or would you prefer they wing it because your destination is different? I think most you can see that only by employing a well-designed system do you have the best chance of consistently obtaining the results you want. So what are the components of First Look and how does it work? The exact details of First Look provide a competitive advantage and are therefore proprietary but we can look at how it generally addresses the principle item buyers want from their sales representative – finding the right home. Generally the first thing most buyers do when they start thinking of a new home is to start looking in the newspaper, the real estate magazines at the supermarket, and more and more, the internet. If you use this approach for anything other than to get a general feel for the market, I can almost guarantee you’re going to be frustrated! Why? Well, for the moment lets skip the fact we have not invested the time to analyze your requirements, wants, financial qualifications, etc., and just look at this approach to searching. And let’s further suppose we’ve already found nothing on the market that’s suitable. When a property comes onto the market where do the best “buys” go? Now I know everybody thinks the real estate sales representative gets the best buys, but let me assure you, they don’t have the money. So, where do they go? They go to the buyer who has the first opportunity to say yes!  And guess who that is? It’s the buyer who’s’ sales representative is constantly checking for new listings that meet their clients criteria, the buyer who is already pre-approved for a loan, and who is ready move emotionally when that right property for them comes onto the market. Can you figure out which properties show up in the newspaper, the magazines, etc.? I’s either already sold or It’s a property my client has rejected! Now would you prefer to choose from the gems or choose from the leftovers? Does it take a lot of effort to constantly check for new properties for each client? Absolutely! Does it pay off? Absolutely! Is it available to everyone? Absolutely not! This is just one example of the advantages you’ll enjoy with the First Look system. There are lots more. If you think you’d like to take the next step to explore the advantages and what’s involved here’s what to do now: 1. Call me at 519-435-1600 and let me know you’d like to take the next step. We’ll decide on the best means and frequency of communication. Phone, email, Fax, or a combination thereof. My goal is to make you so pleased with my First Look program you’ll become an outspoken advocate for my business. At the beginning I related how fully one third of the buyers couldn’t definitely say they had a positive buying experience. As you approach this exciting task of finding your new dream home ask yourself: “Within which group are you going to find yourself”? The choices you make about which sales representative you use will determine your fate. Ty Lacroix To receive information, please fill out below and select the information you wish to receive.
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40 Very Important Things You Should Know Before You Buy
A Helpful Guide for Saving Time, Money, and Frustrations When Finding, Buying and Financing Your Next Home
If you’re in the market to buy a home anytime soon, and you want to find the perfect home at the best possible price, terms, and financing, there are THREE things you need to do up front:
First, understand and get control of your personal emotions about the purchase of your home Second, get the most valuable, important information available so you make a prudent and educated decision. And third, become informed about the very best financial resources and products to fit YOUR needs…NOW, not later.
After all, buying your home is very different from any other financial transaction. It isn’t just a “home,” it’s a transaction that affects your monthly overhead expenses…your ultimate net worth…your retirement…your kids education…and much more.
So it’s no surprise that buying your home may involve a bit of fear, anxiety, frustration…or even excitement for that next move in your life.
The secret is…try not to let these emotions get in the way of a prudent purchase. The tips and information in this report will help you have a better understanding of most, if not all, aspects involved with the purchase of your next home.
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8 Secrets For Saving Thousands When Finding, Buying and Financing Your Next Home Or Condo
Here’s A Helpful Guide For Buying The Right Home, At The Right Price, And Getting The Right Financing
Even Experienced Homeowners Make Costly Mistakes
When Buying And Financing Their Home
If you’re like most people, the decision to buy a home involves a number of stresses and strains. For about 80% of buyers, it’s the single largest financial transaction of their lives. Mistakes in any part of the buying process can cost you thousands.
That’s why I wrote this special report…to give you a number of helpful, straightforward tips for finding a home that meets your needs, AND becomes a wise financial investment for you.
Here are eight strategies (I call them “secrets” because so many home buyers disregard them when buying) you should consider when buying your next home…
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12 Questions You Should Ask Before Hiring Any Real Estate Agent
Here Are 12 Powerful And Insightful Questions You Should Ask A Real Estate Agent Before You Sign Anything
your decision to buy a home clearly involves more than looking at two or three homes, making an offer, and moving in.
Hiring the wrong agent can mean the difference between making or losing money, selling or buying quickly…or taking a long time, a trouble-free transaction, or a living nightmare.
Unless you have experience interviewing people (and real estate agents in particular), you won’t always know what questions to ask. Further, you won’t always know what answer will best suit your needs for buying or selling. So here’s a list of 12 important and insightful questions you should ask ANY Real estate agent BEFORE you sign anything.
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Black Belt Negotiating for Homebuyers
Negotiating is like a martial arts contest where power, leverage and timing can mean the difference between winning and losing. For instance, a martial artist would never go into a contest without first knowing his opponent to find weaknesses. In the same way, you can gain bargaining power by doing your homework. When buying a house find out how long it's been on the market, why the owner is selling, if there have been previous offers and if you will be the only one making an offer at this time. Obviously, finding the answers to questions like these could save you a lot of money
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London can Provide Home Ownership Assistance
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Home Ownership Assistance Program Good news for London's low-to-moderate income earners! This year, the City of London offers again the Affordable Homeownership Assistance Program. This successful program consists of an interest free loan for qualifying home buyers to assist with downpayment and closing costs.
To be eligible, households must have a gross household income of $55,000 or less, and must be approved for a mortgage at a recognized financial institution. The selling price of the home must be no higher than $140,000. New this year is an increase to the closing cost assistance, which has been raised to 3% from 1%. The Homeownership Assistance Program is a partnership between the Government of Canada, the Province of Ontario and the City of London through the Canada-Ontario Affordable Housing Program (AHP) which offers people with low-to-moderate earnings the opportunity to purchase a home in London and Middlesex County.
The federal and provincial governments have set the deadline of December 31, 2010 to expend the funding allocated to the City of London |
Affordable Housing Assistance Program
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The Affordable Home Ownership Program is a partnership between the Government of Canada, the Province of Ontario and the City of London through the Canada-Ontario Affordable Housing Program (AHP) which will create the opportunity to purchase Affordable Home Ownership units in the City of London and in Middlesex County. Qualifying home buyers can: - receive down payment assistance of 5% of the cost of the home under the program. The down payment assistance will be provided to eligible purchasers at the time of closing of the purchase and sale of the home.
- Qualifying home buyers can also receive another 3% of the cost of the home to assist in paying "closing costs" including legal fees and disbursements, and registration on title.
- No interest will be charged on the AHP 5% + 3% financial assistance.
- Eligible purchasers will be selected from those who:
- meet the eligibility requirements
- meet income criteria
- are approve for a mortgage at a recognized financial institution and
- have a signed purchase and sales agreement for a qualifying home.
For more information go to http://www.housing.london.ca/NewAffordableHousingProgram/HowToApply.htm or let me know and I can guide you through the process. |
Does Title Insurance Really Protect You?
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Does Title Insurance Really Protect You? We all have heard horror stories about home insurance, car insurance or traffic insurance not covering an accident or claim after the fact. You purchase insurance with the assurance that you will be covered or are told that you will be covered if such & such occurs etc. Fortunately, like life insurance, we have not had to make a claim. It is when you make a claim that all of a sudden you find out that you are not covered. This month a client who's home was to close found out that there were easements on her property and the purchaser wanted a substantial discount in price to close. Her lawyer, through which she purchased title insurance when she bought the home, 5 years ago , and title insurance say that's too bad, we did our job and your client is not covered in any way.So, the home did not sell and we have re-listed the home showing this easement and explaining why the home did not close. Everyone we talk to say that insurance should cover it but to no avail. (yet). This turn of events has really ruffled my feathers and I am pursuing justice and remuneration for my client with a determination that shoddy legal work, the practice of the wolves protecting the sheep (this title insurance company was formed and operated by lawyers) and that the fallacy and discrepancy in insurance coverage will be made known to the public and these practices be remedied by the so called safe guards in place. I am gathering as much information as possible and if you or your clients have experienced issues with Title Insurance in Ontario or Canada, please let me know. Obviously no names are published here to protect me, as I realize I am like David going after Goliath but the stories I am hearing proves that this is not an isolated case. In reviewing my files, I have had hundreds of purchasers use title insurance and fortunately have never had to make a claim. But what if they had to? Would they be covered? When representing a purchaser in the future, advise them that lawyers use title insurance 99% of the time and perhaps they should find out what is not covered! Keep tuned, there will be more to the story! |
32 Minutes Will Save You Thousands before You Buy A Home
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Are you facing any of these situations when thinking about real estate? •¨ You're looking to make one of the most important purchases of your life and you don't want to get burned because of not knowing whom you can trust, or making a mistake that could cost you thousands of dollars later. •¨ You do not know the values in the marketplace and you want to be assured of getting the most that you can for your money, without having any regrets after your closing?  •¨ You're feeling out of control because there are so many unanswered questions. Making it hard to know where to start. Is there an easy way to buy a home? If any of these situations sound familiar, I have some fact-filled information will help prepare you for the purchase of your next home. Doesn't it make sense that in order for you to make one of the most important decisions in your life you should be well informed? Just 32 Minutes Of Your Time Will Save You From "YEARS Of Headaches" I have a quick and easy way to help you prepare for your next purchase which I call, "40 Buyer Tips YOU Should Know To Avoid Making Huge Mistakes!" Just give me a call at 519-435-1600 to set up a convenient , discussion and in 32 minutes you will have 40 tips that could save you thousands of dollars and a ton of headaches! |
Avoid These Buyer Traps When Buying Real Estate
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Shopping for a home is an emotional experience. It's also time consuming and comes with a myriad of details. Some buyers, (and their sales person), however, caught up in the excitement of buying a home tend to overlook some items. Their home purchase then turns into an expensive process! These errors generally fall into three areas: - Paying too much
- Losing a dream home to another buyer
- Buying the wrong home
When you have a systematic plan before you shop, you'll be sure to avoid these costly errors. Here are some tips on making the most of your home purchase. Bidding without sufficient information What price do you offer a seller? Is the seller's asking price too high? Is it a deal? Without research on the market and comparable homes, you basically are bidding blind. A professional REALTOR® who represents you, the buyer, can offer an unbiased opinion on the value of a home, based on market conditions, condition of the home and neighborhood.  Without this knowledge, you could easily bid too much, or worse, miss out on a great buying opportunity. Buying the wrong home What are you looking for in a home? A simple enough question, but the answer can be quite complex. More than one buyer has been swept up in the emotion and excitement of the buying process only to find themselves the owner of a home that is either too big or too small. Perhaps they didn't consider the drive to work, the distance to school or the many fix-ups that they really want to deal with now that the excitement has died down. Take the time now, to clearly define your wants and needs, discuss these wants and needs with your REALTOR® put it in writing and use them as a yardstick with which to measure every home you look at. Unclear title: Before you sign any documents, be sure the property you are considering is free of all encumbrances. A good realtor will ensure that he has enclosed clauses to protect you. The last thing you want to discover before you move in is that there are tax liens, debts, undisclosed owners, leases, contracts or easements Unexpected repairs Don't expect every seller to disclose every physical detail that will need to be attended to. Use a professional home inspector to conduct a thorough inspection of the home, before you close the deal. A good REALTOR® will enclose a home inspection clause in the offer and only if the inspection report is suitable to you, would you waive that condition. (See my report: "The Role of a Home Inspector") Hidden Costs Make sure you identify and uncover all costs-large and small- far enough ahead of time. A good buyer's agent will discuss this with you, and you should discuss all fees and costs with your lender, your lawyer and any other professional you may use. (See my reports;"The role of a lawyer", "The role of a lender") Rushing the Closing Take your time during this critical part of the process. Do you understand your mortgage details? Has any thing been forgotten? Does the paperwork and documentation reflect your understanding of the transaction? Will your buyer agent take you through your planned house 2-3 days before closing? (To ensure that there is no unusual changes in the condition of the home, that what is supposed to stay-stays) I, or my client and I, go through the property before closing to make sure that what we have bought 30 to 60 days ago is still the same. Can you now see why it is very important to have an experienced, knowledgeable and trusting REALTOR® to help you? Why not see for yourself. My thorough systematic approach to real estate buying and selling, it can save you time, money and frustration! |
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Paying $850 A Month Rent? You're Throwing Away $51,000 in 5 Years
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Your landlord is getting richer and richer, laughing his head off all the way to the bank at YOUR EXPENSE. Every month you continue to pay rent, you lose out on enormous personal profits, pay hundreds more in ‘other’ expenses each year and lose another year of a secure financial future. Will you continue to pay someone else’s mortgage payment? Or would you like to learn how you can own a beautiful home or condo for even less than you rent-and start reaping the enormous rewards of home ownership? Even if you have had spotty credit or not enough money down, I can help you be a successful home owner. Hi, my name is Ty Lacroix, Broker of Record and Owner of Envelope Real Estate Brokerage Inc. I work hard in helping people just like you get off the “rental insanity treadmill” and buy a home you’ll be proud of owning. And a future that’s financially secure. It costs you nothing to simply explore the idea of owning. And there’s no obligation whatsoever to meet with me. In just 30 minutes, I’ll introduce to you an opportunity to own your own place, will be worth thousands of dollars in your pocket. Money you’re otherwise giving away to your landlord every month. So call me today at 519-435-1600 to learn how you can become a proud homeowner for the same or even less than you rent. |
Can You Send Me A List of .......?
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Can you send me a list of.....? On average I receive about 65 buyer or seller leads a week from my blogging, Internet presence and signage. How can I help you I ask, either by phone or email. Can you send me a list of ..........? I sure can but may I ask a few questions to help clarify what you are looking for and to help narrow down the search? "Just send me everything under $200,000". "Just send me everything with a double car garage". "Just send me everything you have." Some of my favorite answers to my questions are "That's none of your business!" or "My REALTOR* is quite busy, but I'll make sure he/she gets the list!" or "You Realtors* are all the same, you ask too many questions!" So all in all and human nature being what it is, I keep getting 60-65 leads a week and continue to have 3-5 transactions a week from it.So, am I thick headed, stupid or just plane lucky? |
Want to own your own place?
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Do NOT Sign Another Rent Cheque Until You Consider This: Buy and Own Your Own Home or Condo, Right Now: My name is Ty Lacroix, Broker of Record and owner of Envelope Real Estate Brokerage Inc. , and I have a very exciting promise for you: you can stop flushing away rent money every month, stop making your landlord rich, and buy a home or a condo of your own right now, and I can help you every step of the way. |
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