Archive for November, 2008
Housing sales plunge as crisis gathers pace
Home prices off 10% from 2007 levels Eric Beauchesne, Canwest News Service Published: Saturday, November 15, 2008 OTTAWA - The Canadian economy has taken a sudden sharp turn for the worse, with the housing boom finally turning to bust with home sales plunging 14 per cent to a six-year low in October, the steepest monthly drop in 14 years, and [...]
1.6 billion highway link to 401 with new bridge project – A positive Outlook
We have been hearing about a 1.6 billion highway link to 401 with new bridge project in Windsor area. I read a recent news published on 13 November 2008 reported by Dave Battagello, Municipalities affair reporter. According to the news Ontario Finance Minister Mr Dwight Duncan said the biggest problem for the highway link and bridge project [...]
New housing starts continue decline
Windsor Star Published: Tuesday, November 11, 2008 High unemployment and a surplus of homes on the resale market continue to be a barrier on housing starts in the Windsor area. Home construction in the area fell 37 per cent in October, compared to last October, according to the Canada Mortgage and Housing Corporation. There were just 31 starts [...]
Good News for Automotive industry
A headline News in Windsor Star 11th November 2008 "Positive Signals On Automotive Industry". Prime Minister Stephen Harper had announced on 10th November 11, 2008 that Canada will consider aiding the domestic Auto industry following Washington’s example however He did not want industry to be dependent on aid. The new is very good for Real [...]
Opening ceremony of Schulich School of Medicine and Dentistry, Windsor, Ontario
Reported in Windsor Star Sunday, November 9, 2008 “Even at a cost of $1 Million / Student, it’s a deal. University of Windsor officially opened the Schulich School of Medicine and Dentistry, $ 24 million state-of-the-art building. University welcomed its first 24 students. Hundreds of happy faces including public figure were present at [...]
Mortgage Assumption
Existing financing may be assumed by the buyer provided that the mortgagee agrees and, in most cases the buyer qualifies by being eligible to obtain a loan of this nature from the lender, just as original mortgagor did. When buyer assume the mortgage, he / she takes over the mortgage balance and becomes responsible the payments, terms and all [...]
Mortgage Assignment
As written in Canadian Real Estate Encyclopedia mortgage assignment is the assigning of a mortgagee's right to a new mortgage. The mortgage is an interest in land and can be sold, transferred or assigned without the consent of a mortgagor. The mortgagor is given notice in writing of the assignment and thereafter makes his / her payments to the [...]
Mortgage – Overview
According to America Heritage dictionary meaning of mortgage is; i) A temporary, conditional pledge of property to a creditor as security for performance of an obligation or repayment of a debt. II) A contract or deed specifying the terms of a mortgage. III) The claim of a mortgagee upon mortgaged property. It has been further elaborated in [...]
Determining the listing price – Comparative Market Analysis (CMA)
Acronym: (CMA) Comparative market analysis is used to reach at competitive listing price. CMA Competitive market analysis form/document includes homes that are currently for sale, have recently sold, or on which listings have expired or did not sell in a required time period. This gives an overview about what buyers are willing to pay. [...]
