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10 things savvy home owners should look for .

Sham Pathania  www.greatgtahomes.com: Real Estate Agent in Mississauga, ON

HELOC - Not always bad!

A Home Equity Line of Credit can be good or bad depending on how you use it. There are 10 things savvy home owners should look for when considering a Home Equity Line Of Credit:

1) No HELOC application fee or at least the fee should be refunded at closing. If your lender assesses an application fee, make sure it's refundable at closing.

2) No home loan appraisal or closing costs - there are plenty of no-cost options available that you shouldn't have to pay a HELOC appraisal fee.

3) No HELOC account maintenance or check-writing fees - Lenders already make money when you write checks (read - borrow) on the home equity credit line. If your lender tries this, dump him!

4) No "usage" fees - Apparently, HELOC lenders don't approve of the notion that a homeowner may want to have a HELOC as an emergency "reserve" account. Definitely look for a lender that does not charge this type of fee.

5) Variable APR equal to or near the prime rate (adjusted quarterly) - Interest charged on the balanced borrowed should be the only cost involved with a good home equity credit line!

6) Periodic cap on interest rate changes (the amount that the rate can be changed at one time) - Look for a Home Equity Line of Credit that adjusts quarterly (rather than monthly) in increments of 0.5% or less.

7) Lifetime cap on rate increases (the amount that the rate can be adjusted over the loan's life) - You'll want to find a HELOC loan with a lifetime rate cap that you can live with. Ask your loan officer to clearly spell out the "worst case" scenario for HELOC rate increases!

8) Ability to convert to a fixed rate loan - When rates do rise, people often get skittish about their variable-rate debt. A useful feature to look for in a HELOC loan is the ability to convert the line of credit to a standard fixed-rate, fixed-term home equity loan.

9) Interest-only payments allowed - Get this option but only use it if you need to! It's always best to pay down the principle, not just interest!

10) Unrestricted ability to repay principal without penalty - You should be able to pay off the Home Equity Line of Credit at any time without paying extra!

Enjoy these ten basic tips and now, more than ever, be careful! There are a lot of shady deals out there and if you don't take your time reviewing the fine print, it will come back to bite you!

Serving Region of peel, its your Realtor Sham Pathania. Visit my website www.greatgtahomes.com for MLS listings and search MLS properties in your desired area.

If you have any questions related to real estate and if you are seeking an assistance in selling or buying a real estate property in Brampton, Mississauga, Milton,Oakville, Caledon, Etobicoke or anywhere in GTA area, you may conact me at 416-562-8417. Ask For a FREE complimentary market evaluaton of your property.

If you are looking for a house and you have a particular School in mind, you must look for these MLS listings with school information.

Another Deal Fell Thru"

Sham Pathania  www.greatgtahomes.com: Real Estate Agent in Mississauga, ON

Second time in two months! Yes, it was another sad day for me and my client. The fault was of my client's Mortgage Broker who did not want to give mortgage committement within the stipulated time. Incidently everything was fine with my client.

I curse my self. I should have forced my client and refer him to my broker!

Ways and Means To Save On Electricity and Gas Bills

Sham Pathania  www.greatgtahomes.com: Real Estate Agent in Mississauga, ON

Free Ways to Save on Electricity and Gas Bills

The easiest and most effective way is to shop for a lower electricity rate. But, there are plenty of ways to lower the AMOUNT of energy you use too. Consider these:

1. Put your PC to sleep. $25/month - Don't worry, putting your pc to sleep is painless and it doesn't require a trip to the vet. If you put both your computer and monitor in "sleep mode" (set it up to go to sleep automatically) instead of leaving them on 24/7, you will use 80% less electricity, which over a year could equal 1,250 pounds of CO2 reduction and more dollars in your wallet. ElectricBids Expert estimates show the savings could be as much as $25 per month per PC!

2. Run your Heater and A/C at more reasonable temperatures. $100+/month - I would have a hard time taking my own advice, I like to see my breath in the summer and walk the house in my boxers in the dead of winter. But, I digress - with a little self discipline and a ceiling fan, habits can be broken. Set your thermostat 5° F to 10° F lower when your sleeping or away from the house. In most of the country, 10° lower in the winter can mean 20% savings on electricity or gas. You can always burn some of your electric bills in the fireplace, don't they deserve it? Before you add a layer of clothing to stave off frostbite from the AC in the summer, consider that for every 1° you raise the temperature, your energy costs go down 3°. Follow this advice from ElectricBids Experts and you could save $100+ per month.

3. Wash your laundry on "Cold" setting. $10+/month - Guess what, most of the electricity your washing machine uses doesn't come from the party your socks are having during the vigorous swishing cycle. The fact is that 90% of the electricity is consumed heating up the water. If you can stand having clothes that keep their bright colors, you'll save a lot by washing and rinsing in cooler water. Thanks to incredible space-age 21st century advances, and declasification of secret cold-war clothes-washing technology, Cold-water detergents are available to handle just about everything in your hamper. ElectricBids.com Experts calculate a potential $10+ per month savings by using this tip.

4. Don't overdry your laundry. $10/month - Heating the water in the washer uses lots of electricity, but so does heating the air in the dryer. It also raises the temperature in your house requiring more A/C time to cool it back down. If you remove your laundry a couple minutes before or just after your machine buzzes you, you will have less ironing and your clothes will last longer. If you're about to replace your dryer, find one that has a moisture sensor - they are more accurate than thermostat models.

5. Let your dishwasher do it's job. $15/month - Prerinsing dishes to make your dishwashers job easier not only makes it lazy and less respected by the other kitchen appliances, the added step can waste 20+ gallons of heater water/day. Scrape off the extra food with your fork and let enzyme-based dishwasher detergents lend a helping hand for spotless dishes that don't cost you an extra $15 in wasted electricity.

6. Less fire, More Money. $15/month - Your normal, everyday fireplace sucks (heated) air out of the room and sends it out into the atmosphere. Frankly, the atmosphere prefers to control its temperature without your intereference. Assuming you've been heating your house through the central system, you're pouring those electricity and gas dollars down the drain or sending them up the chimney. The free version of this is to just stop burning fires. For those who can't do without the flames, try a direct-vent, sealed-combustion gas fireplace. It's reported that these units have energy efficiencies of around 70%, which isn't quite as efficient as a radiator, but satisfies that primal need for fire...ugh ugh.

7. Shades (and windows) - very cool. $20/month - One of the most underutilized methods of controlling cooling costs is the use of shades in west facing rooms and open windows on cooler nights. The surface of the sun is about 10,000°, and sometimes it doesn't seem like it's cooled down much by the time those rays hit our homes. Simply pulling down and closing your window treatments, or using solar screens, can help you cut electricity use cooling your home artificially.

8. A/C - TLC $15/month - If you keep leaves and other debris away from the outside unit (condenser) and replace the filter in the inside unit (air handler) regularly, your A/C will show it's thanks by reducing your electricity bill by $200 per year.

9. Ovens & Microwaves - $5/month - Ovens of the microwave variety use just 20% of the electricity that conventional ovens use, not to mention the reduced need to cool your kitchen down from the oven's radiated heat. This tip is most useful in the summer. In the winter, that extra heat from the oven isn't so bad.

10. Save electricity on heating your water. $5/month - Most household uses of hot water require a temperature no warmer than 120° ("low" on your hot water heater's dial). If your tank feels hot to the touch, you should add insulation. Try wrapping the heater with attic insulation or buy a blanket made for wrapping water heaters. You can also wrap the hot water pipes, if you can get to them. An added bonus to the extra money is an extra 4° F in the temperature of your water at the end of it's journey to your faucet.

Vote! Canada Election 2008

Anthon Pang, Broker, e-PRO, SRES: Real Estate Agent in Brampton, ON

Monday, October 6th is the last advance voting day. Otherwise, your last chance to vote is election day, Tuesday, October 14th.

By now, you should have received a voter information card (if you're on the voter registration list or gave the Canada Revenue Agency permission to share your residence information with Elections Canada). You don't have to bring this card with you to vote, but it is adviseable -- the poll no. printed on the card helps those working at the polling station to direct you to the proper table.

If you haven't received a voter information card, or the one you received is addressed to someone else or contains errors, call the local (Brampton) Elections Canada office at 1-866-236-8618.

Don't forget your ID. (If you don't have an acceptable piece of primary ID, e.g., driver's licence, there are some alternatives.)

Reference: Elections Canada

For Lakelands Village residents, you may have received misinformation from your local candidate(s) (e.g., automated phone message) about where your advance polling stations is. Refer to your voter information card. (In the worst case, if you show up at the wrong place, they'll tell you where you should go.)

If you want another incentive to vote, many of the advance polling stations are at community centers. It's a good opportunity to also check out your local CCs: facilities, programs, and upcoming events, especially family activities. For example, there will be grand re-opening celebration for the renovated swimming pool on October 18th, at the Century Gardens Recreation Complex.

Here is a February update of Brampton Ontario real estate activity

Mandeep Bhathal: Real Estate Agent in Brampton, ON

Here is a February update of Brampton Ontario real estate activity.

(TREB area# W24)

There was 801 (compared to 743 last year same time) active properties for sale in the Brampton W24 area MLS. In the month of February 232 houses (compared to232 houses last year sametime) are sold. Here is the detail view.

Property Type

Active

Sold

Average Sale Price

Condo Apartments

73

37

$162983.00

Condo Townhouse

63

16

$202275.00

Detached

514

108

$395716.00

Semi-Detached

102

50

$292091.00

- Semi-Detached house prices are up from $276942 to $292091.

- Detached house prices are up from $392845 to $395716.

- Condo Townhouse prices are up from $172986 to $202275

- Condo Apartments prices are up from $156313 to $162983

By looking at this data from Toronto Real Estate Board it looks like the prices will go higher again for this year. The mortgage rates are quite low and Bank of Canada might cut more rates looks like this is the best time to invest in your own home.

Like always if you are in the market for a house in Malton, Brampton, Springdale, Castlemore, Mississauga or any other part of the GTA, our team will be able to help you with all your real estate needs like Finding your dream home and negotiating best price for you, Home inspection, Lawyer and Mortgage.

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Mandeep Bhathal

Call me today at 647-998-8719 or e-mail at mbhathal@gmail.com

Find my website at http://www.luckyhome4u.com/

Mandeep