Say Goodbye to 100% financing and 40 year mortgages in Canada - 07/10/08 08:43 PM
The Canadian Government is making it tougher for home buyers to obtain a mortgage and with good reason.  Starting October 15 of this year, the new rules will take effect.
We are all familiar with the  sub-prime mortgage meltdown in the States the past year but while Canada is not even close to this disaster the government still feels it necessary to secure and maintain a strong mortgage and housing market.
The changes include:
Cutting the maximum amortization period to 35 years from 40. Requiring a minimum down payment of five per cent, whereas loans for 100 per cent of the … (3 comments)

St. John's Investment properties have increased in price....when will the rents? - 07/08/08 05:12 AM
For the last few years 2-apartment homes have been increasing in demand and in price, particularly in the past 6 months.  The majority of investment properties in the St. John's, Mount Pearl, Paradise real estate market have been selling in days, with multiple offers and selling well over the asking price.  This time last year your standard 2-apt home was around $180,000 to $199,000.  Currently they are $220,000 to $240,000 (East End St. John's) and can be built new for approx $260,000.
The bases behind people purchasing a 2-apt is obviously as an investment, to have the rental income greater then … (1 comments)

 
Stephenwinters1

Stephen Winters

St Johns, NL

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Remax Realty Specialists

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