905-937-6000 (Office)
1-866-999-9497 (Office)
dollar@royallepage.ca
www.SallyDollar.com

Royal LePage Niagara R.E. Centre, Brokerage
www.SallyDollar.com
101 LAKEPORT RD
ST. CATHARINES, ON L2N7L7

News Flash!!! If you are looking to buy your first home with 100% financing and zero percent down ... and wanted to amortize your mortgage over 40 years so you have low monthly payments.... you need to purchase before October 1st. That is when they will be revoking this offer. This home would be $903.59 per month with a 25 year amortization and with 40 year it would be $781.50 per month at 6%. View the virtual tour www.SallyDollar.com

In Canada's major markets reached record levels in the first half of 2008, while sales activity retreated from the record levels reported in 2007, according to MLS® statistics released by The Canadian Real Estate Association (CREA).
New MLS® residential listings in Canada's major markets in the first 6 months of 2008, up 8.1 % from the previous record set in the same period last year.
More new properties were listed in April, May, June this year than in any other month on record. This pushed seasonally adjusted new listings to new levels in the 2nd quarter of 2008, up 7.5% from levels the previous quarter. New listings reached record or near-record levels in Toronto.
By contrast to rising new listings, sales activity in the first half of 2008 was down compared to the same period of 2007, which was a record-setting year. Transactions declined by 13.3 per cent year over year to 169,265 units in the first half of 2008.
Over the past six months, easing sales activity & a surge in new listings caused the resale housing market to become considerably more balanced in many major housing markets.
"The Canadian real estate market, while cooling, is still much different than the U.S. market with its record low number of foreclosures or defaults" says the President of CREA, Calvin Lindberg. In the US home prices dropped by 14.1% in the 1st quarter of the year, according to the Case Shiller national home price index.
"Finance Canada has moved to clamp down on those buyers who may be heavily leveraged in their bid to become home owners" the CREA President added, "and this is into effect in October."

The major market residential MLS® average price set new records for the first half of 2008, as well as for the 2nd quarter of the year. In the first half of 2008, the MLS® residential average price rose 3.2 per cent year-over-year. On a quarterly basis, the average price in Canada's major markets was $343,235 in the second quarter, up 1.4 per cent from the second quarter of 2007.
However, in June the major market MLS® residential average price edged down 0.4 per cent year over year to $341,096.
"The resale housing market is more balanced than it was last year in all major urban centres," said CREA Chief Economist Gregory Klump. "The frenzied pace for sales activity last year has faded, with buyers now better able to shop around before making an offer. Price increases are expected to be modest in the second half of 2008, as sales continue easing and new listings remain high."(CREA 15/07/2008)

Bank of Canada holds interest rates steady
The Bank of Canada held its benchmark overnight lending rate steady at 3% at it's setting on July 15th. The trend-setting Bank rate, which is set 0.25 percentage points above the overnight lending rate, remains at 3.25 per cent.
The Bank's decision to hold interest rates steady aims to boost its inflation fighting credentials. Financial markets widely expected the Bank rate to be put on hold despite the lackluster outlook for Canadian economic growth.

When the Bank left interest rates unchanged on July 15th, the advertised 5 year conventional mortgage rate stood at 7.15%. This is less than 1/10th of a percentage point below where it stood a year ago. Competition among mortgage lenders remains stiff, but discounts off advertised mortgage interest rates have shrunk.

The number of new listings of homes for sale on the Multiple Listing Service® (MLS®) of real estate boards in Canada set a second consecutive monthly record in May 2008, according to statistics released by The Canadian Real Estate Association. New MLS® residential listings rose 1.8% on a seasonally adjusted month-over-month basis to 78,878 units in May 2008.

Record numbers of new listings are creating more balanced resale housing markets in many centers. More balanced housing markets are causing price gains to shrink. The national MLS® residential average price rose 1.8 per cent year-over-year in May 2008. This is the highest level ever for average price, but the smallest year-over-year price increase in seven years.

"Over the long haul what's good for consumers is a strong, stable and balanced market," says the President of CREA, Cal Lindberg. "Buyers get to take time to assess their options, and sellers must find the right marketing plan for their property. A REALTOR® provides the expertise to help both buyers and sellers with those issues." (CREA 26/07/2008)

Lots of my clients have hot water gas heating with rads - here is information you may be interested in to keep you cool this summer. Sally

Ductless air conditioners and heat pumps are gaining in popularity as a means of providing cooling for a house. These systems function much the same as any other air conditioning or heat pump, except that they do not require ductwork to distribute air throughout the house. They are particularly practical for existing homes where there is no ductwork already installed for heating or cooling purposes.

This feature can produce substantial energy savings over a ducted air distribution system as there is no opportunity for the loss of conditioned air from the ductwork running through attics, basements or crawls spaces. Duct losses can account for more than 25% of energy consumption. Ductless systems consist of an outside unit containing the usual air conditioner and heat pump components and a relatively small indoor fan-coil unit that can be located on any nearby wall. The usual heat pump (or air conditioner) refrigerant tubing connects the two elements. These systems are ideal for smaller houses, remote rooms in large houses or for houses that have an open floor plan. This gives you the ability to "zone" or control heating and cooling to different parts of your home by using additional indoor air handling units.
The two primary components of a ductless system are: an outdoor condensing unit, and one or more indoor air handling units. The use of multiple air handlers connected to a single condenser gives the system its alternate name - mini-split. A conduit, which houses the power cable, refrigerant tubing, and condensate drain, links the outdoor and indoor units. A filter is located at each air handler.
The main advantages of mini-split systems include:
 Compact size
 Flexible positioning
 Ease of installation
 Remote controls
 Zone cooling
 No energy loss on distribution
The compact size and low profile of the indoor air handlers offers flexibility of placement. With its non-obtrusive casing only extending out about 6-8 inches from the wall or ceiling surface there are numerous placement options in most rooms. They can be suspended from a ceiling, mounted flush into a drop ceiling, or hung on a wall. While ceiling or high wall placement is preferred, floor-mount units are also available.
Remote control features make it easier to control the system, especially when air handlers are positioned high on walls or suspended from ceilings. A remote can be used for selection of all system functions such as the temperature setpoint, switch to fan-only operation, redirecting the vanes on louvers, setting on/off timers, and adjusting energy-saver settings. Most units have automatic louver mechanisms that oscillate the air vanes for balanced airflow.
Most systems allow up to three air handling units (containing the evaporator coil) to be connected to a single outdoor condensing unit, depending on how much heating or cooling is required for each zone. Duct vibration noises and duct dirt/mold accumulations are also eliminated with a ductless system. Heat pump models are also available.
The primary disadvantage of ductless systems is their cost. Such systems cost about 30% more than conventional central systems, exclusive of ductwork, and may cost twice as much as window units of similar capacity. The appearance of the indoor unit is an issue for some people. Most air handlers have sleek modern designs, but they still are a component that would not typically be seen in the living area of a house with a conventional central system. However, they do not take up the window space that a window-mounted unit requires.
Remember, these tips are only general guidelines. Since each situation is different, contact a professional if you have questions about a specific issue.

7th Annual Rotary Ribfest Aug 1-4th
Enjoy delicious ribs prepared by 7 competing chefs from all over the world. Entertainment - live music, activities for the young & young at heart. View website for schedules Location: Montebello Park St. Catharines http://www.clubrunner.ca
Port Colborne Canal Days Aug 1-4th
Celebrating marine Heritage. Vendors every day, buy a duck for the duck race. Visit the Port Colborne Historical & Marine Museum, enjoy live entertainment in Market Square. Canal Days also hosts a Nite Kite Fly on Sat Aug 2nd with an excellent Kite Festival from 10-4:30pm Sunday. Car Show at HH Knoll Lakeview Park Aug 3 & a boat parade of lights 9pm followed by fireworks display. Location: Downtown Port Colborne

Take it Downtown Sports Festival Aug 2, Includes 3 on 3 basketball, volleyball & street hockey tournaments. While enjoying the festival patronize the local establishments as they strive to enhance and re-vitalize the Niagara Falls downtown core. Location: Queen Street Downtown Niagara Falls
Royal Canadian Henley Regatta Aug 5-10th
The 126th Regatta is a premier rowing event, takes place on Martindale Pond. This event draws athletes from all over the world. Please visit web site for race details rowing schedules. Location: Martindale Pond St. Catharines
A Peach Of A Celebration Aug 9th The 18th annual Peach Celebration will take place on Queen Street, NOTL. Fife and Drum Parade, classic cars, entertainment and lots of peaches.
Siege of Fort Erie Aug 9, 10th Realistic re-enactment of battles that took place during 1814 which turned Fort Erie into one of Canada's bloodiest battlefields. Over 400 volunteers converge at Old Fort Erie to engage in 4 battles wearing period costume and living as our forefathers did during that time. Location: Old Fort Erie
3rd annual Art and Wine Aug 9, 10th Outdoor art fair to be held at RIEF ESTATE WINERY from 11AM~5:30PM. A wonderful opportunity to sip wines & meet artists amidst the vineyards. All media, including jewelry, paintings & sculpture. Location: Niagara on the Lake
Slovenian Festival Aug 10th Ethnic food, refreshments and outdoor BBQ. Dancing to the Walter Ostanek Band. Location: Lipa Park Pelham
10th Annual Kinsmen Car Show Aug 10th
Boasts up to 500 pristine, vintage cars. BBQ food, outdoor wine and beer garden, raffles, and a live DJ add to the events festive spirit! Location: Fort George Commons Niagara-on-the-Lake

Dare Devil Days Busker festival Aug 15-17 Multiple stages of music with strolling buskers & daredevils performing in historic downtown. While enjoying the festival patronize the local establishments as they strive to enhance & re-vitalize the downtown core. Location: Downtown Niagara Falls Niagara Falls
Niagara Jazz Festival Aug 16&17th Enjoy two days of fine jazz and blues along the historic Henley. Location: Henley Island Port Dalhousie

Fife & Drum Muster Aug 16&17th Witness as Fort George springs to life with the sound of fifes & drums drifting through the smoke & across the battlefield to mingle with the blast of muskets & the roar of cannon firings. Location: Fort George Niagara-on-the-Lake

The 10th Annual Niagara Bigga Tomatafest Aug 17th Entertainment at the Queenston Heights Band Shell, a food fair with children's activities. Watch the huge tomato weigh-off competition & witness the ever popular giant tomato stomping contest. Location: Queenston Heights Park Queenston
Winona Peach Festival Aug 22-24 Includes Arts & Crafts, Commercial Exhibits, Peachland, Amusement rides, free Main Stage and Children's Entertainment, Car Show and many food booths. Prize Draws, car draw on Sunday, Aug 24 - 5:00 PM. Location: Winona Park Winona

IlluminAqua Aug 22, 23rd Is a concert series performed on a stage floating on the Welland Canal in downtown Welland, surrounded by floating firepits. Please visit www.illuminaqua.com for more info. Location: Downtown Welland Merritt Park

Support the Troops Aviation Day Aug 27 The Canadian Forces Snowbirds will perform aerial acrobatics over the airport. A CF-18 Hornet is planned to perform a fly-by. A WWII Lancaster from the Canadian Warplane Heritage Museum will follow. On the ground, vintage aircraft will be on display, with some warbirds offering rides. Location: Niagara Central Airport Pelham

20th Annual Marshville Heritage Festival Aug 30 - Sept 1
There are 14 buildings restored by the volunteers of the Marshville Heritage Society Inc. Visitors may tour these buildings, see many hands-on demonstrations of yesteryear, and shop at the 100+ crafter venues. Also an antique car show on Sat & Sun.Location: Marshville Heritage Village Wainfleet

Falls Fireworks & Coca Cola Concert Series Canada's longest running fireworks every Friday, Sunday & holiday at 10:00p.m., preceded by our Concert Series at 8:00 p.m. www.niagaraparks.com Location: Queen Victoria Park Niagara Falls

©2008 Brookfield Real Estate Services Fund.