Stephen Winters - St. John's Real Estate Blog

Say Goodbye to 100% financing and 40 year mortgages in Canada

Stephen Winters - ABR (Remax Realty Specialists) — Thu, 10 Jul 2008 20:43:47 -0500

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 price are possible now.
Establishing a requirement for a consistent minimum credit score.
Introducing new loan-documentation standards.

The people effected are the purchasers with less the 20% downpayment for a property as they are the people that require mortgage insurance with the purchase of real estate. Those with pre-existing mortgages will not be effected.

Mortgage insurance protects lenders (ie Royal Bank, Scotia Bank etc) when a borrower (the Purchaser) defaults on the loan if the sale of the property doesn’t cover the debt.

I for one am in agreement with this change. The zero down, 40 year mortgage that was introduced a couple years ago allowed home buyers the ability to purchase a home yet become heavily in debt. There was a lot of buyers that entered the real estate market in Canada during this time and probably shouldn’t have.

In a perfect world you want to pay off your mortgage as fast as possible. The idea of no mortgage and having the extra cash flow per month is excellent. However....this is not a perfect world and not everyone has the ability to do this.

It will be interesting to see the public’s reaction, particularly first time buyers, to these changes.

St. John's Investment properties have increased in price....when will the rents?

Stephen Winters - ABR (Remax Realty Specialists) — Tue, 08 Jul 2008 05:12:48 -0500

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 the expenses and create a positive cash flow. Last years price of $180,000 your monthly mortgage would be approx $1050 (assuming a 5% mortgage rate). In today's market, your $240,000 investment mortgage payment is approx $1400. (again assumed 5% interest rate). That's a $350 dip into your cash flow.

When will the rents increase locally? I haven't seen them increase in quite some time. Average rentals are approximately $900 for a main floor 3 bedroom unit and about $600 for a basement apartment. At those rentals, you are left with a $100 positive cash flow and you haven't included property taxes and other investment property expenses.

Another factor is the average price in St. John's and surrounding areas have increased for a single dwelling. June MLS stats show the average price for a single dwelling home in St. John's is approx $190,000, considerable higher then the average price from 2007. First time buyers are being pushed out of the real estate market and are being forced to rent, creating an even further demand for investment properties.

It's only a matter of time....but the rents have to increase.

St. John’s Newfoundland Remax Affordability Report 2008

Stephen Winters - ABR (Remax Realty Specialists) — Wed, 23 Apr 2008 06:23:21 -0500

Although a recent report pegged St. John’s as one of the most affordable cities in the G7 nations, affordability is a growing concern. Buyers continue to face challenging market conditions, including unprecedented demand and extremely tight inventory levels.

Multiple offers are quite prevalent. It is not uncommon to see quality, new listings generate three to four offers after only a few days on the market, with most selling for more than list price. Bungalows are especially coveted.

Despite a sense of urgency in the marketplace, buyers remain quite determined. Most are willing to compromise by way of necessity, while others ante up more money to compete. Some entry-level purchasers are sitting on the fence, waiting for more product to come on stream with the Spring market and better weather.

Currently, average price in Greater St. John’s hovers at $172,000. Although the St. John's downtown core has more affordable options, most purchasers prefer Woodlands, Cowan Heights, and Mount Pearl, where three-bedroom, resale homes start from $180,000.

Condominiums are a viable alternative, but this type of product is popular with only a small percentage of first-time buyers. St. John's Condos can start from $100,000 for a one-bedroom unit in an old military conversion to $130,000 for a two-bedroom in an older building in the northwest end of the city. Duplex product, though limited, is also growing in demand, and more units are coming on stream.

The least expensive sales recorded to date in St. John’s include a detached home with some new upgrades that changed hands for $140,000 and an 800 sq. ft. condo apartment that sold for $95,100 in an older, but renovated, building. Both were located in the city’s east end.

With average prices forecast to experience double-digit momentum yet again this year, it is expected that the first time buyer segment will remain very active as purchasers try to buy in before prices rise further.

Comparing Fort McMurray house prices to St. John's

Stephen Winters - ABR (Remax Realty Specialists) — Tue, 22 Apr 2008 05:51:56 -0500

I was delving deeper into my Filogix MLS Real Estate system to investigate some features I've yet to explore. I discovered we have access to "inter real estate boards" listings and stats.

The first on the drop down tab was Fort McMurray homes for sale, so I decided to check it out. Floored at some of the prices and similar style houses compared to St. John's houses, I found a listing from Remax Fort McMurray that just shocked me.

A mobile home noted as "Amazing starter home at an amazing price". Amazing price alright....this property was listed for $354,900. Sold and closed in less then one month. The description continued..."quick possession. You’d better act fast – this one won’t last long!" He wasn't kidding!! It sold and closed (transfered owner) in less then a month.

Average price for a similar mobile home in St. John's is about $90,000. Coincidentally, I would call this an "amazing starter home at an amazing price" at a price $260,000 less then in Fort McMurray. So tell me....which of the two property photos shown is for sale in Fort McMurray and which property is for sale in St. John's?

35 Unit Apartment Building for Sale

Stephen Winters - ABR (Remax Realty Specialists) — Thu, 17 Apr 2008 19:46:54 -0500

Looking for a great investment property in Newfoundland? 35 unit commercial apartment building located just 90mins outside St. John's. Complete with laundry and exercise room, four units and large suite furnished. Each unit metered separately with own hot water tank. Building is equipped with a fire alarm system. Electrical is a three phase 800 amp 208V service. Upgrades over recent years. Paved lot for approximately 40 vehicles. Next door to two senior citizens complexes and near local hospital. Live in and run your own business. A clear phase 1 environmental assessment completed in 2005 and on file. Engineering Inspection completed in 2005 and on file. Asking price is $1,025,000 1 Scarlet Ridge Carbonear - Virtual Tour

MLS Trends St. John's First Quarter

Stephen Winters - ABR (Remax Realty Specialists) — Thu, 17 Apr 2008 19:31:31 -0500

MLS Residential Sales Post Solid First Quarter

MLS® residential sales increased 14.3 per cent to 713 units compared to last year’s first quarter sales of 624 units

January, February and March MLS® sales were 236, 238 and 239, respectively and were held back by a lack of active listings

Driven by low inventory, the first quarter average MLS® house price jumped 13.6 per cent to a record $156,953 compared to $138,167 during the first quarter of 2007

Resale Market Classified as Sellers

The resale market headed quickly to a sellers classification last Fall and remained there throughout the first quarter of 2008

Average time-on-market trended lower during the quarter, strong price growth continued and many choice properties enjoyed multiple purchase offers

Current trends indicate the market will favor sellers once again during the second quarter, but an expected improvement in active listings may provide some relief for buyers

Active Listings Remained Low

After falling nearly a half by January, active listings rebounded slightly during February and March, but remained low, restricting unit sales growth accordingly

The supply of active residential listings averaged approximately 1,150 during the first quarter compared to almost double that number at 2,100 a year ago

First quarter new listings were near last year’s first quarter level of 1,600, while active listings retreated 45 per cent compared to the first quarter of 2007

Mortgage Rates to Remain Low

With U.S. recessionary pressures continuing, the Bank of Canada is widely expected to cut rates 50 basis points by June 10th

Accordingly, mortgage interest rates are expected to remain low in 2008 and start to creep higher in 2009 as investors gain more confidence in financial markets

One and five-year mortgage rates are forecast to be in the 6.25-7.25 and 6.50-7.50 per cent range, respectively, in 2008 and beyond

80 Karon Drive - Pineridge Creek

Stephen Winters - ABR (Remax Realty Specialists) — Tue, 25 Mar 2008 07:13:28 -0500

Wow says it all for this hot property. Just like new 2 storey home located in Pineridge Creek. Birch hardwood through most of main floor. Open concept design. Living room with propane fireplace. Hardwood stairs leads to 3 well sized rooms. Master bedroom has large walk-in closet and ensuite with corner shower and separate whirlpool tub. Developed basement consists of rec room and large games room. Attached double car garage. Fully landscaped and fenced. Enjoy country privacy on your large patio deck. Asking price $379,900. Contact Fraser or Stephen Winters for more information.

Virtual Tour of 80 Karon Drive

15 Larner Street - Clovelly Trails

Stephen Winters - ABR (Remax Realty Specialists) — Tue, 25 Mar 2008 07:11:52 -0500

Why wait to build when you can move right in! 4 year old 2 storey home with attached garage in Clovelly Trails Subdivision. Hardwood floors throughout most of the main floor. Eat in country kitchen with access to rear patio. Seperate dining room. Living room includes tray ceilings and a bay window. Master bedroom includes walk-in closet and large en suite with stand-up shower and whirlpool tub. Basement exterior walls are gyproced and insulated. Back yard is fenced and fully landscaped. Asking price $299,900 Contact Fraser or Stephen Winters for more information.

15 Larner Street Virtual Tour

Seven Reasons to Relocate to St. John's

Stephen Winters - ABR (Remax Realty Specialists) — Tue, 25 Mar 2008 07:10:02 -0500

Anyone who has ever been to North America's Oldest City can attest to the fact that it's a great city. St. John's has become a great place to relocate for a variety of recent economic reasons. Here are my reasons why St. John's Newfoundland is a good choice for relocation.

7. Scenery - View Newfoundland's spectacular coastlines, panoramic views, icebergs, whales and provincial parks.

6. Affordable Housing - Average real estate price for in St. John's is lower then most cities in Canada. We are seeing more and more emails from people in Vancouver, Calgary and Toronto looking to relocate back to Newfoundland or looking to invest in Newfoundland.

5. Quality of living - Enjoy a high standard of living, low population, great schools, little traffic, fresh clean air and genuine Newfoundland hospitality.

4. Proximity - Your commute to and from work, schools and amenities is VERY short. You can drive from East End St. John's to West End in about 15mins. With the Outer Ring Road, commute time from Paradise and CBS has been reduced significantly.

3. Nightlife - There is always something to do in the evenings. Plays, theater, beautiful restaurants and live music at most George Street bars.

2. Outdoor Activities - There are lots of winter sports (skiing, ice fishing, skating, snowboarding, ice hockey, snowmobiling, etc.) and endless summer activities (golfing, baseball, soccer, swimming, jogging, sea kayaking, rowing etc.). Hike or camp the trails in provincial parks or the East Coast Trail. Hunt moose, rabbit, caribou or pick blueberries. There is something here for everyone.

1. The next few years are looking very promising for Newfoundland. There is a lot of hype on our oil and gas industry. Hebron, White Rose, Hibernia, and the Terra Nova Project, all major contributors to the Newfoundland Economy. This combined with the low cost of living makes St. John's an attractive city to relocate.

Allow Fraser and Stephen Winters to assist you when relocating to St. John's or surrounding areas. Email us for a relocation package.

New home construction economic clause

Stephen Winters - ABR (Remax Realty Specialists) — Tue, 26 Feb 2008 19:15:58 -0600

There has been quite a debate around the "St. John's real estate water cooler" in recent weeks. Towards the end of 2007 some local builders and subdivisions in St. John's implemented a new "Economic Clause" to their contracts. Buyers have been noted to shy away from certain subdivisions and proceed to others that do not insert this clause. The debate is over whether this clause protects the buyer or the builder. Does it protect the buyer from an increase in purchase price of the house? Does it allow the builder the option to raise the price of the house prior to starting construction?

The clause states:

"This Agreement of Purchase and Sale is subject to the Vendor confirming to the Purchaser or the Purchaser's Agent in writing the final sale price on or before the expiry of 14 days prior to excavation of the dwelling. If no written confirmation of the final sale price is issued by the Vendor on or before the expiry of 14 days prior to excavation of the dwelling the Purchase Price referenced herein before shall be deemed to be the final sale price. If written notification of an increase in the final sale price is issued with which the Purchaser is not satisfied then this Agreement of Purchase and Sale shall be void and of no effect. Upon receipt of the written notice of the increased final sale price from the Vendor the Purchaser must acknowledge in writing within 72 hours their agreement with the increase in price, and failure to do so renders this Agreement of Purchase and Sale void and of no effect with the Vendor returning the Purchasers Deposit or down payment."

What are your thoughts on this clause? Are you in favor of the builder being protected or the buyer?

St. John's MLS Trends for 4th Quarter 2007

Stephen Winters - ABR (Remax Realty Specialists) — Sat, 02 Feb 2008 11:02:52 -0600

MLS® Residential Sales Post Record Fourth Quarter - MLS® sales surged 43 per cent to a record 1,326 units compared to last year’s fourth quarter sales of 926 units - October, November and December MLS® sales were 475, 497 and 354, respectively - Fourth quarter average MLS® residential house price jumped 11.4 per cent to a record $153,196 compared to $137,478 during the fourth quarter of 2006

Resale Market Returned to Balanced Classification
- The current sales-to-active listings ratio trend and other factors combined, suggest the Market is heading quickly to a sellers classification and already has in some neighbourhoods
- Average time-on-market trended lower during the quarter and price growth was very strong - A further firm reclassification to sellers will depend on first quarter 2008 results, but likely to occur based on current market trends

Active Listings Decline
- After climbing since 2003 and hitting a record high in July, active listings declined during the fourth quarter for the first time since the second quarter of 2004
- The supply of both new and active residential listings averaged 2,070 during the quarter compared to 2,216 a year ago
- New listings decreased 15 per cent, while active listings retreated 7 per cent compared to the fourth quarter of 2006

Click here for the full St. John's MLS Trends Q4 2007 including graphs.

Newfoundland Real Estate Outlook 2008

Stephen Winters - ABR (Remax Realty Specialists) — Sun, 20 Jan 2008 09:22:51 -0600

The outlook for Newfoundland Real Estate for 2008 will be positively supported by a strong provincial economy, with the average MLS® price forecast to increase 6.4% to $157,500. REMAX is suggesting a 12% increase which would put the average price around the $170,000 mark. The expected increase in single detached and two apartment homes can be seen already, and it's very early in the new year.
Currently we are experiencing low housing inventory and a high number of buyers. Now is the right time to sell your house for maximum value.

I recently read a review of average St. John's House prices from 2002 - 2008 (forecasted) from CMHC. Good to see the St. John's real estate market on the rise in recent years.

2002 - $113,081 2003 - $119,822 2004 - $131,499
2005 - $141,167 2006 - $139,542 2007 - $148,000

And forcasted for 2008 - $157,500

Want to keep up with the latest market news and trends in St. John's?

We invite you to visit our St. John's Real Estate Blog.

What is the Atlantic Home Warranty Program?

Stephen Winters - ABR (Remax Realty Specialists) — Sun, 13 Jan 2008 16:13:59 -0600

With all the new subdivisions in St. John’s and surrounding areas, it’s becoming a common question: “is this property covered under the Atlantic Home Warranty?” A follow up question is”what does it cover?” People hear about the Atlantic Home Warranty but it’s apparent they are unaware of the details.

Atlantic Home Warranty offers a 7-year limited home warranty. This is automatically transferable and increases the value of your home. The warranty stays with the house, not the owner.

The coverage details are listed below.

Optional Deposit Protection, up to a maximum of $20,000.
A guarantee that the Builder will repair eligible defects in workmanship or materials supplied by the Builder during the first year of ownership.
Protection against major structural defects during the remainder of the warranty period.
A conciliation service to handle any disagreements between you and your builder during the first year.
A total aggregate limit of liability of $50,000.

To determine if a specific builder is a member of the Atlantic Home Warranty program, they are listed on their web site by province and area. Simply click here and follow the directions. You may also contact AHW directly to verify if the Builder is a Member.

It is important when looking to buy a new construction home that you find a builder that is a member of the Atlantic Home Warranty program.

Your home will be one of the biggest investments in your life, make sure you have the peace of mind….make sure your home is covered.

St. John's Condo for sale

Stephen Winters - ABR (Remax Realty Specialists) — Sun, 13 Jan 2008 16:07:56 -0600

117 Queens Road - Unit #14 $132,500

Very well maintained 2 bedroom condo in the heart of downtown St. John’s. Hardwood floors in living room and eating area. Picture yourself cooking and entertaining in the open concept kitchen. Crown moulding and modern colours. 2 bedrooms on second floor. This condo comes with underground parking. Great for the young professional! Visit www.FatherAndSonTeam.ca for more photos or view the virtual tour.

Call Fraser or Stephen Winters (709-682-9245 or 709-682-9045) for more information

Mortgage Calculator: How Much Can You Afford?

Stephen Winters - ABR (Remax Realty Specialists) — Thu, 03 Jan 2008 14:19:14 -0600

How much of a house you can afford depends on a number of factors. The most important are your gross household income, your down payment and the mortgage interest rate. Lenders will also consider your assets and liabilities. Your own lifestyle and debt comfort zone also come into play.

This calculation is based on two simple rules that lenders use to determine how much of a mortgage you can afford. The first rule is that your monthly housing costs should not exceed 32% of your gross monthly household income. Housing costs include monthly mortgage payments, taxes and heating expenses. If applicable, this sum should also include half of monthly condominium fees.

Secondly, your entire monthly debt load s hould not be any more than 40% of your gross monthly income. This includes housing costs, and other debts such as car payments, personal loans, and credit card payments.

Feel free to use the mortgage calculator on our website for a quick calculation. For a more in depth assessment CanEquity will display an entire payment schedule for the life of a mortgage along with a summary of payments, interest, and balances within the mortgage term.

The average price in the current St. John's Real Estate market for a single family home is about $150,000. Assuming a 5% ($7500) down payment. Interest rate of 5.79%

The amount you will need to mortgage is $146,418.75. This is amount has CMHC insurance fees included. The calculation is as follows: Purchase Price ($150,000) subtract Down Payment ($7,500) equals $142,500. To this amount we add a 2.75% insurance premium based on your Loan to Value (LTV) ratio of 95%. Therefore, 2.75% of $142,500 is $3,918.75 (cost of your insurance), plus $142,500 equals $146,418.75.

You will have 549 payments of $459.30 every 2 weeks for 21 years and 2 months, plus one final payment of $158.58 to payout a $146,418.75 loan with a rate of 5.79%.

Choosing biweekly accelerated payments will pay off your mortgage 46 months sooner, with a total of $23,264.48 in interest savings.

Mortgage balance remaining at end of term is $125,752.66.

By increasing your Down Payment you could lower your LTV ratio, therefore lowering your CMHC insurance premium of 2.75%.

Newfoundland Real Estate....firing on all cylinders

Stephen Winters - ABR (Remax Realty Specialists) — Wed, 19 Dec 2007 20:28:26 -0600

The Globe and Mail printed an article on December 17, describing the recent boom in the Newfoundland Real Estate market. Dubbed “The Danny Williams Effect” after the recent Hebron offshore oil project, homes in St. John’s and surrounding areas (including Mount Pearl, Paradise, CBS, and Torbay) surged 68% from October to November. While it hasn’t been classified as a sellers market yet, the activity noticed from reduced inventory, multiple offers on homes and at times over asking prices in recent weeks, are clearly pointing in this direction. Inventory is down with pre-existing homes which leads buyers to the decision of building. The new construction market, which once had a 3 - 4 month start-to-finish time frame are booming and are quoting 6 - 8 months for a move in date.

For buyers, this means paying close attention to the market. (Email me and I will send you daily listings as they appear on the market) and make sure you get to a bank or financial institution of your choice and get pre-approved. Having both these tasks completed and working with an experienced Realtor will certainly help you in the 2008 real estate market.

Read Lori McLeod’s article in the Globe and Mail here

Let Fraser and Stephen Winters help you with buying or selling your home in 2008.

Call us today - 709-682-9245 or 709-682-9045

Hebron-Ben Nevis oil project a go for Newfoundland

Stephen Winters - ABR (Remax Realty Specialists) — Thu, 23 Aug 2007 09:33:55 -0500

Hebron-Ben Nevis announcement is going to jump-start the Newfoundland industry, and bring in billions during its life. Employment in St. John's and area will increase bringing back Newfoundlanders currently working in Alberta. Relocation to St. John's real estate market will certainly benefit. The overall St. John's economy will surely boom in the next few years, including the St. John's, Mount Pearl, Paradise real estate market.

The Hebron asset, which consists of the Hebron, Ben Nevis and West Ben Nevis fields, was first discovered in 1981. Chevron Canada Limited is the operator for the Hebron project with a 28 per cent working interest. The asset is located in offshore Newfoundland’s Jeanne d’Arc basin and is approximately eight km north of the Terra Nova oilfield. Partners signed a Unitization and Joint Operating Agreement in 2005. Hebron is a heavy oil reservoir with significant technical and commercial challenges and is estimated to have 400-700 million barrels of resources. Project partners include: ExxonMobil Canada (37.9%), Petro-Canada (23.9%), and Norsk Hydro (10.2%).

GREAT news for the St. John's Real Estate Market!

Urban Housing Starts Dip in May

Stephen Winters - ABR (Remax Realty Specialists) — Mon, 11 Jun 2007 18:47:45 -0500

St. John's, June 8, 2007 - Urban housing starts dipped in May, according to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC). For the month of May, total housing starts dipped 18 per cent, with 128 posted across provincial urban centres versus 156 during May of 2006. Of the 128 total starts, 124 were recorded within the St. John's region compared to 131 last May. Year-to-date total housing starts of 343, equals the number of starts posted during the same period last year within the St. John's region.

"Despite May's dip in total provincial housing starts, we are still on par with the overall level of residential construction activity recorded across the province last year," said Chris Janes, Senior Market Analyst with CMHC in Newfoundland and Labrador. "In fact, within the St. John's region, there were seven fewer homes started compared to last May and the year-to-date total starts number of 343 is actually the same number recorded during the first five months of 2006," added Janes.

For Canada's urban centres, total housing starts headed five per cent higher to 18,889 in May over May of 2006. Single-detached starts dropped three per cent to 9,026 while multiple starts of 9,863 represent a 15 per cent increase compared to last May.

In Atlantic Canada, there were 788 urban housing starts, down four per cent over the same month last year.

February St. John's Real Estate Market

Stephen Winters - ABR (Remax Realty Specialists) — Sat, 10 Mar 2007 08:54:30 -0600

St. John's housing starts were affected by weather in February, according to preliminary data released by Canada Mortgage and Housing orporation (CMHC). For the month of February, a total of 63 housing starts were recorded across provincial urban centres, down nine per cent over February of 2006. Within the St. John’s metropolitan area, housing starts pulled back 12 per cent with 61 units recorded in February versus 69 during the same period last year. However, of the total number of starts recorded, 40 were condos at a new condominium development in St. John’s. In terms of the key single-detached segment, there were only 17 new homes started in February compared to 41 last year, a drop of 59 per cent. “Clearly, it was impossible for local builders to maintain any reasonable level of new home construction, given the huge amount of snow that fell within the St. John’s region during the month of February,” said Chris Janes, Senior Market Analyst with CMHC in Newfoundland and Labrador. “With January’s good results and the solid economic climate within the metro area, we expected this month to be on par with the level of residential construction activity recorded in February of 2006,” added Janes. For Canada’s urban centres, total housing starts stumbled 24 per cent in February over February of 2006. Single-detached starts fell 26 per cent to 4,389, while multiple starts of 5,047 represent a 22 per cent decline compared to last February. In Atlantic Canada, there were 278 urban housing starts, down seven per cent over the same month last year.

Clocks going ahead early

Stephen Winters - ABR (Remax Realty Specialists) — Sat, 10 Mar 2007 08:46:53 -0600

So the clocks are going ahead tonight, 3 weeks earlier then normal, as a test for a year to determine the amount of energy consumption saved.

What about the energy and time spent on updating all the little electronic gadgets that are anticipating the leap in 3 weeks? All the updating of software? All the trouble shooting? Ahhh the chaos! Is it me or didn't we already go through this for the Y2K scernio?

Personally I think the Y2K was blow out of proportion, but they do say hindsight is 20/20, however I can't seem to laugh at the email I received from my phone provider to update my Blackberry:

Option 1: Set it ahead an hour manually and when the device springs ahead another hour in 3 weeks, manually "un-spring" it back that extra hour. PS: do reverse in November

Option 2: Download the software patch and hope for the best.

Now, what time is it? I hope I'm not an hour late for my appointment.

Cheers,

Steve

www.StephenWinters.ca

Above the Crowd?

Stephen Winters - ABR (Remax Realty Specialists) — Wed, 07 Mar 2007 19:16:49 -0600

I guess one could argue I was "Above the Crowd" with this listing! Sorry for the bad joke....I just couldn't resist!

Yes....we currently have LOTS of snow to deal with in the St. John's Real Estate Market

http://www.stephenwinters.ca/above-the-crowd.php

Royal St. John's Regatta - North America's Oldest Sporting Event

Stephen Winters - ABR (Remax Realty Specialists) — Thu, 15 Feb 2007 14:33:53 -0600

This historic regatta is the oldest continuing sporting event in North America. The event continues to draw in excess of 50,000 spectators each year and is a major focal point of summer activities in the St. John's area.

For over 187 years the Royal St. John's Regatta has been held at Quidi Vidi Lake in the heart of the east end of St. John's, Newfoundland.

The Holiday is held on the First Wednesday in August - Weather permitting - with the decision made early that morning (if not it "goes" the next day).

The day is a civic holiday for the entire St. John's area and is a full day of Fixed Seat Rowing Races. Our Fixed seat rowing shells are unique - being six person + coxswain and our races start and finish at the same spot - requiring all the crews to "turn the buoys" at the halfway point of the race. A crew can be 6 men or 6 women + coxswain and range in age from 14 to senior citizens.

The shores of beautiful Quidi Vidi Lake are totally encircled by booths and concessions offering all manner of fun, food and games of chance or games of skill. Throughout the day the crowds can reach as high as 40-50 thousand people as the citizens of St. John's and all our visitors enjoy a "Day at the Races"

Many local historians believe that rowing and sailing competitions between the crews from various ships in the harbour and the local populous pre-date any of the records we have been able to verify. St. John's, with its magnificently sheltered harbour, had become a growing centre of activity, and early settlement, as far back as early 1700's. The fishing and trading season generally lasted from May to September. this gave the transient amd local population only a few months to form summer friendships and raise a challange to each other's sailing and rowing skills. The boat racing, which later became our Regatta, came into existance as a natural form of friendly competition among a seafaring people.

Visit the official website http://www.stjohnsregatta.org/

9 Torngat Crescent - St. John's

Stephen Winters - ABR (Remax Realty Specialists) — Thu, 15 Feb 2007 14:25:10 -0600

9 Torngat Crescent - $207,900

Executive four bedroom well maintained home in Cowan Heights. Enjoy cooking in a spacious eat-in kitchen with custom lighting. Family room off kitchen with propane fireplace. Formal dining and living room with french doors. Crown mouldings. Large master bedroom with ensuite. Close to schools and playgrounds. Two tier patio deck with southern exposure and a beautiful view. Fully landscaped.

This simple seven step process will give you the tools you need to succeed

Stephen Winters - ABR (Remax Realty Specialists) — Thu, 25 Jan 2007 18:42:48 -0600

Someone emailed this to me and I thought I'd share it. Powerful simple steps.

This simple seven step process will give you the tools you need to succeed. -Brian Tracy

Many businesspeople achieve their greatest successes in unexpected areas. They begin a business and then they find that it isn't as profitable as they had anticipated, so they change direction, using their experience and their momentum, and strike paydirt in something else. The most important thing is to begin. To take action. To move forward one step at a time, learning and growing as you go. There is enough information available in virtually every field for you to become knowledgeable enough to achieve success. But action is necessary.

The Two Parts of Business Success
Success author Orison Swett Marden once wrote, the first part of success is get-to-it-ivness. The second part is stick-to-it-iveness. Every business beginning requires an act of faith and courage, a bold leap into the unknown. Only one in ten people who want to start their own businesses ever develop enough courage to begin and enough persistence to continue. Get-to-it-iveness. And stick-to-it-iveness. The fear of failure, more than anything else, holds people back. It paralyzes action. And it makes failure inevitable.

Begin With A Dream
Fortunately, even if you know nothing about business, you can begin with a dream, a castle in the air, and then build a foundation under it.

Seven Simple Steps
The starting point of many great fortunes has been these seven simple steps. Number one, set a goal and back it with a burning desire. Number two, begin accumulating capital with a regular savings program. Nothing else is possible without this. You cannot move forward until you start a savings program.

Use Your Current Job As A Springboard
Number three, use your current job as a springboard to later success. Learn while you earn. Take the long view. Number four, experiment in business on a limited scale so you can learn the key abilities necessary for success. Number five, search for problems, needs unmet, products or services you can supply of good quality at reasonable prices.

Read Everything You Can Find
Number six, read everything you can find on your chosen field. Remain flexible. Be willing to change your mind if you get different information. And number seven, implement your plans with courage and persistence. Have complete faith in your ability to succeed and never, never give up.

Action Exercises
Now, here are two actions you can take immediately to start moving toward entrepreneurial success:

First, set a goal, make a plan and then launch your plan. Get started. Do something. Begin on a small scale with limited risk and investment but get going!

Second, resolve that, no matter what happens, you will never, never give up until you are successful. Before you accomplish anything worthwhile, you will have to pass the persistence test. And the test will come far sooner than you imagine.

Real Estate St. John's 25 year history

Stephen Winters - ABR (Remax Realty Specialists) — Thu, 25 Jan 2007 10:07:07 -0600

RE/MAX 25 Years of Real Estate (1981 - 2006)

St. John's, Newfoundland

St. John's housing market has experienced steady upward momentum over the past 25 years. In 1981, high interest rates did little to deter first-time and move-up buyers, as a total of 656 sales were recorded in the city and average price hovered around $55,00 0. Economic diversification has given way to growth in several sectors including forestry and mining, and that bodes well for the area, as the city's prosperity is no longer hinged on the region's fishing industry. Today, St. John's continued economic growth is tied to what lies beneath the ocean-oil and gas. Minerals are the most valuable commodity produced in the province. This booming sector has brought with it an influx of purchasers, money and jobs, contributing to a healthy resale housing market. In 1990, the real estate market took off in tandem with the development of the Hibernia Oil project which was launched in May of 1997. Since that time, there has been no looking back as additional oil projects such as Terra Nova and White Rose have made their way into the province, spurring unprecedented demand for housing. In 2006, home sales reached a recordbreaking 3,500 units, while average price hovered at $139,300 - its second highest level ever. A steady rise in St. John's population has also prompted increased demand in the housing market, with positive net migration recorded every year since 1999. Many local residents in rural areas of the province have moved their way into the city-drawn by college/unive rsity, a variety of available jobs and/or close proximity to healthcare.

With over 20,000 people expected to retire in the next 10 years, the majority of buyers are baby boomers. Today's market also has a strong first-time buyers segment. Several residential subdivisions in the city are seeing record growth. The condominium lifestyle, while on the rise, has yet to take a strong hold as in other areas of the country, as buyers continue to prefer bungalows and semi-detached homes offering more land and living space. There is no shortage of available land - the former Sprung Greenhouse Land (approximately 104 acres), once an agriculture property, has recently been released by tender by the Provincial government for a proposed 400-plus residential subdivision. The upper-end of the market is more active than ever before. Higher salaries from the oil sector have stimulated sales in upper-end housing developments like Clovelly Trails. St. John's is expected to record healthy economic growth in the coming years, as the "oceanic" industries, tourism and the real estate sector continue to flourish and the population rises.