Real Estate, St. Johns, Newfoundland R. Greg Osmond, Realtor

The Ferryland Lighthouse, Newfoundland, is truly a "must view" place to visit. A few days ago my wife and I ventured out to the east side of the Avalon Peninsula to explore the sights and sounds around the Ferryland lighthouse. This lighthouse has been serving mariners who sail along Newfoundland's rugged east coast in all kinds of weather since 1870.

The sounds of the waves crashing along the rocks and the views were delightful. The magnificent Atlantic Ocean seems to touch you on three sides of that point of land that where the light house stands. We saw Humpback and Minke whales spouting and feeding, a couple of seals bobbing about, and numerous sea birds enjoying the shoreline. The vistas of rugged cliffs, isolated islands, the churning greens of the ocean and the distant rolling seas were well worth the 1 hour trip from St. John's.

Unfortunately, we didn't get there in time for the gourmet picnic luncheon that can be purchased at the lighthouse. After a 25 min hike from the parking lot, you can order a picnic and head out to the grassy hills along the coastline to wait for your picnic basket to be delivered to your side. By all accounts, the food is delicious and meticulously prepared. With a warm salt air breeze and this spread of fine food, this place impresses both the locals and tourists alike.

If you are planning a trip to Newfoundland, this is definitely one of the sites to see and it will be a favorite place to visit regularly if you end up settling down on the east coast of Newfoundland. In fact after seeing this place, you just might decide to buy your own retirement home right here on the Rock. By all means, ask me to assist you if you would like to make that part of your plans.

To read about the gourmet picnic lunches, check out the website at LighthousePicnics.ca and be sure to have a look at this Google map of the area here.

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About the Author: R. Greg Osmond is a Platinum Award winning Realtor dedicated to serving the people of St. John's, Mount Pearl, Paradise, Kilbride, Goulds, Conception Bay South (CBS), Portugal Cove-St. Philips, Torbay- Flatrock- Pouch Cove, and Logy Bay - Middle Cove - Outer Cove, Newfoundland and Labrador. For over 21 years Greg has been practicing in Real Estate. He can be reached at 709-895-2500.

Want to get in touch? Email rgosmond1@gmail.com. For more information, please visit http://www.rgregosmond.com. Thinking of selling your home? I have a passion for helping my clients with buying and selling real estate! If there is any way I can be of service to you today, please feel free to contact me!

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So what was I thinking when prices for real estate were as low as they were? I have asked myself that question a few times. In St. John's we have seen real estate prices surge in the last three years. Those who were "smart" enough to buy investment properties with record low interest rates and un-inflated real estate prices have enjoyed one of the best growth markets in North America.

I have been in the real estate business for over 21 years and have had the opportunity to buy rental properties several times; but I did not do it. Well, I did not buy them to the extent that I might have or dare I say, even should have. Instead, I invested some of my hard earned cash in the stock market. With the exception of a few lucky trades, I watched my invested assets dwindle to losses or at best remain flat. Oh what a feeling when a plan doesn't come together!

Well during this past year, I have begun to correct this imbalance. I have purchased a couple of homes and am in the process of building a two more within the next two years. If this sounds like I am crazy, I remind you that the I thought the same way five years ago about buying real estate then. The reality is, Newfoundland has an oil based economy and this oil prosperity is certainly not done yet. Those who can accumulate a few rental properties over the next ten years will no doubt build some equity for their future.

Another factor for me is there are no real estate firms that offer a pension plan in our local market. Buying rental properties is one thing that make some sense in terms of generating income for the future. Yes, prices have moved up already. But unless the Newfoundland economy turns downward or the oil boom dies prematurely, it is more likely that real estate prices will be higher in five years than they are today, even though they may seem high to us right now.

If you are hoping to gain from this growth market you might want to give your head a shake as I did and buy a piece of real estate. Otherwise, it is likely in a few years time you will be asking yourself the same question. "What was I thinking when the prices were low?" And in case you haven't noticed, interest rates are still sitting at all time lows. Furthermore, to underscore the point a little more, the vacancy rate in St. John's is now at 1.1%. See CMHC News April 2010.

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About the Author: R. Greg Osmond is a Platinum Award winning Realtor dedicated to serving the people of St. John's, Mount Pearl, Paradise, Kilbride, Goulds, Conception Bay South (CBS), Portugal Cove-St. Philips, Torbay- Flatrock- Pouch Cove, and Logy Bay - Middle Cove - Outer Cove, Newfoundland and Labrador. For over 21 years Greg has been practicing in Real Estate. He can be reached at 709-895-2500.

Want to get in touch? Email rgosmond1@gmail.com. For more information, please visit http://www.rgregosmond.com. Thinking of selling your home? I have a passion for helping my clients with buying and selling real estate! If there is any way I can be of service to you today, please feel free to contact me!

Click Here To SUBSCRIBE. Your Mother will definitely approve!

A St. John's, Newfoundland mortgage broker is going to jail.

This week a St. John's mortgage broker who owned the firm Newfoundland Mortgage Brokers has been found guilty of running a ponzi scheme and defrauding investors of over $500,000. Mr. Stirling Norman will be sentenced on June 24, but according to the Judge, is headed to jail before the sentencing hearing. Both the crown and the defence have recommended a 2 year term in a federal prison.

It is sad to see people with such potential lacking the principals to make a solid career for themselves and their family. According to reports, Sterling had been promising investors a return of 48% taking advantage of his clients trust and desire for gains.

It is well worth noting that many ponzi schemes are easily developed by appealing to investor greed and by offering an unreasonable rates of return. If someone promises unusually more than seems reasonable, one should be very careful about investing money with that individual. It's been said many times, if it sounds too good to be true, it probably is.

It is worth stating that this type of behaviour is not at all typical of the mortgage industry in St. John's. I know many of the mortgage brokers and have worked with several of them over the last 22 years. Most of them would be appalled by the actions of Mr. Norman and would prefer he be barred from working again as a mortgage broker.

I have known Mr. Norman as well and in the past I have noticed his management of some cases made me uncomfortable. I gave up dealing with him many years ago and unfortunately this confirms that my discomfort was well founded.

The lesson for all professionals is to be meticulous about representing your clients interest by adhearing to the golden rule. "Do unto others as you would have them do unto you." You might have heard that before but today it bears repeating.

To read more details, check out the CBC report.

Animal crossings in Alberta are over the top. When it comes to being serious about taking care of the local wildlife, the Alberta government will rank up there with the best in Canada.

I was impressed by the number of animal overpasses being constructed along the road through Banff National Park last week when I traveled through the Rockies with my wife and two of my sons. We were headed up to Sunshine Village to enjoy skiing the gentle slopes that overlook the mountain tops and the most beautiful sunshiny weather.

There were several of these structures built and others being developed for larger animals to travel from one side of the road to the other without being injured, killed, or worse, causing a motor vehicle accident that killed the occupants too. There are many animals that use these including moose, elk, sheep, and possibly a few goats who venture down from the mountain. All along the roadway a post and wire fence guides the animals toward the crossing areas. The new ones under construction will add a few more accesses so the animals won't have to travel so far in the future.

Newfoundland has some big issues with moose crossings that have yet to be substantially improved. According to the Newfoundland government website, there are hundreds of moose accidents each year in the province. It reports that in 2007 there were 447 motor vehicle collisions with moose in Newfoundland and Labrador. The highest risk for moose accidents has been in the months of June, July and August.

Recently friends of mine ran into a moose causing several thousand dollars of damage to their car and giving them a large fright for their life. There is a lobby group active in the province headed up by Mr. Eugene Nippard who knows first-hand the horrors of colliding with a moose. Six years ago his collision with a moose left him with two broken arms and feeling very fortunate to be alive.

He and the members of his action group have successfully lobbied the provincial government to cut back the brush from the roadways. Fences have been proposed but no surprise to me, the province is not interested to spend the kind of money it would take to fence the whole of the TCH throughout the province. That would likely cost several billion dollars.

Perhaps a good place for the province to start would be to engage the Federal government to fund and implement a fencing and animal overpass infrastructure program for animals throughout the national parks as they have begun in Alberta.

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About the Author: R. Greg Osmond is a Platinum Award winning Realtor dedicated to serving the people of St. John's, Mount Pearl, Paradise, Kilbride, Goulds, Conception Bay South (CBS), Portugal Cove-St. Philips, Torbay- Flatrock- Pouch Cove, and Logy Bay - Middle Cove - Outer Cove, Newfoundland and Labrador. For over 21 years Greg has been practicing in Real Estate. He can be reached at 709-895-2500.

Want to get in touch? Email rgosmond1@gmail.com. For more information, please visit http://www.rgregosmond.com. Thinking of selling your home? I have a passion for helping my clients with buying and selling real estate! If there is any way I can be of service to you today, please feel free to contact me!

Click Here To SUBSCRIBE. Your Mother will definitely approve!

Real estate values are up again in Newfoundland? A recent BusinessWeek headline about real estate values in Canada reports that new-home prices rose 0.4 percent in January from the previous month, the seventh straight gain.

The data, taken from Statistics Canada, shows that St. John's, Newfoundland was leading the way with the new house price index gaining 1.7 percent. After St. Johns came a 0.7 percent increase in Winnipeg, Manitoba.

Canada's mortgage rates are close to the lowest since the Korean War. Its no wonder home sales and prices indexes have been spurred upward. The country is slowly emerging from a recession but evidentally the real estate market didn't feel much of a recession in St. John's, Newfoundland.

Housing starts rose to the highest since October 2008 in February, and the government-owned Canadian Mortgage and Housing Corp. predicted on March 2 housing starts will rise this year and next.

The Bank of Canada, which cut its main interest rate to a record low 0.25 percent in April, signaled on March 3 that it won't extend its pledge to keep interest rates at a record low through June.

Perhaps when rates begin to rise, we will note some slowdown in the escalating prices in St. John's, Newfoundland. And for the sake of all the first time home buyers, I hope they do.

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About the Author: R. Greg Osmond is a Platinum Award winning Realtor dedicated to serving the people of St. John's, Mount Pearl, Paradise, Kilbride, Goulds, Conception Bay South (CBS), Portugal Cove-St. Philips, Torbay- Flatrock- Pouch Cove, and Logy Bay - Middle Cove - Outer Cove, Newfoundland and Labrador. For over 21 years Greg has been practicing in Real Estate. He can be reached at 709-895-2500.

Want to get in touch? Email rgosmond1@gmail.com. For more information, please visit http://www.rgregosmond.com. Thinking of selling your home? I have a passion for helping my clients with buying and selling real estate! If there is any way I can be of service to you today, please feel free to contact me!

Click Here To SUBSCRIBE. Your Mother will definitely approve!