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Monthly Archives: May 2012

One man’s distress is another man’s opportunity: US foreclosure sales hit 26%

With the number of foreclosed properties increasing, and average prices falling, there are opportunities for investors and ordinary buyers alike in the US real estate market. The numbers are almost breathtaking: in the United States, 26 per cent of all residential property sales so far this year have involved properties that were in some stage of foreclosure or owned outright by the bank. This number is higher than in the same period last year (25 per cent). In some areas it’s much higher: in Nevada, fully 56 per cent of residential sales were foreclosures; in California it was 47 per cent. To put this in perspective, in Ontario as of ... Read More »

What are the benefits of using a mortgage broker?

Mortgage brokers are paid by the lender with whom they arrange the mortgage.  Almost a third of Canadians who took out a new mortgage in 2011 used the services of a mortgage broker. This is according to a new report from the Canadian Association of Accredited Mortgage Professionals (CAAMP) called Confidence in the Canadian Mortgage Market. What are the benefits of using a mortgage broker? Isn’t it just as easy to go through your bank’s mortgage department, as most people do? In fact, there are certain advantages to using a mortgage broker. What if you are turned down by your bank because you have a poor credit rating, or a ... Read More »

Is Toronto ready for a casino?

Harmless fun, stupid waste of money, or life-destroying addiction? Gambling can be all of these. People should be able to decide for themselves, shouldn’t they?  “Caesars representatives will be visiting the city next week to get the lay of the land.” Say that sentence while chomping on a fat cigar, with an Edward G Robinson snarl in your voice. Sounds kind of sinister, doesn’t it? “Well listen soldier. Thousands of guys got guns, but there’s only one Johnny Rocco.” Yeah.  But this is Caesars Entertainment Corp., we’re talking about, the “gambling giant” based in Nevada, not the mob. The largest gaming company in the world owns more than 50 casinos ... Read More »

Canadians doing fine with their mortgages, debt: report

Semi-annual report on mortgage industry says that many Canadians are taking steps to pay off their mortgages as quickly as possible.  Housing markets are stable and healthy in most of Canada …The mortgage lending environment is also stable and healthy. These are the opening words of a report titled “Confidence in the Canadian Mortgage Market,” prepared for the Canadian Association of Accredited Mortgage Professionals by its chief economist, Will Dunning. The document contains a wealth of statistical data that give a good picture of the housing and mortgage markets at the present time, and a projection of what to expect in coming months. The report’s key forecasts call for “healthy” ... Read More »

My Condo Story: Family Fun in a Pensacola Summer Condo

By Citizen Journalist Jolene Cee I am not one for fancy homes orexpensive condos, but the summer I spent with my husband’s family in their condo overlooking the picturesque Pensacola beach is one I will never forget. Sun drenched days spent combing the beach for shells; muggy nights filled with campfire fun, and of course, the cool reprise from the occasionally oppressive Southern heat that the summer home provided for all of us. It was a surprising experience, filled with family time and warm neighbors.My first day there I was taken aback by the impressive condo tower, rising up majestically in a single column, glittering in the hot sun. We ... Read More »

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