About Cambridge's Cambridge

We had the opportunity to work with some great sellers at a stunning home in Branchton. After doing a consultation for them, we advised them on everything from paint colours to new lighting for the dining room and powder room. We then came in and staged last week with some great rental furniture, our home decor accessories and combined them with the seller's existing furniture.

The results? Spectacular! I have created a great slideshow on Flickr for anyone who wants to view it and here is the link:

http://www.flickr.com/photos/roomsinbloom/sets/72157619783432236/

And the backyard is simply to die for ... I'm trying to convince my husband we need to buy this home! LOL! Its one of the downfalls when you work in the real estate industry and can appreciate beautiful homes that every once in awhile you tumble into love with a property. Well this one's "it" for me! We'll see ..

Here are a few pics below to give you an idea of the home:

UPDATE: This home sold in 3 days for 99.4% of the asking price! The sellers opted, against the advice of their Realtor to list it $30K above the suggested listing price - and boy did that pay off! The buyer loved the home so much she stretched her budget by 100K to buy this home! The sellers are so thrilled that they have asked us to redesign their new home!

Finance Minister Jim Flaherty pledged today to triple the amount of mortgages the government can buy from banks to as much as C$75 billion.

The Canadian Gov't, using its crown corporation, the Canadian Mortgage and Housing Corp. (CMHC), purchased $25 billion in mortgages last month.

Allow me to explain in simply terms what the government is in fact doing...

The gov't via CMHC has insured many mortgages for the banks. In other words, CMHC has sold the banks default insurance on mortgages that the banks have provided to their clients, which guarantees that CMHC will cover any shortfall realized by the banks in the event of default by their clients. The banks issues these mortgages to their clients using their own money, and the bank waits for repayment based on the terms of the mortgage, as with any other typical mortgage.

As a result of the recent program announced by the Cdn Gov't to purchase mortgages, CMHC is in essence purchasing mortgages from the banks that they have previously insured.... in other words, purchasing mortgages from the banks that they were already on the hook for. These purchases allow the banks to cash in these mortgages now (so that they can free up cash to ideally put towards lending to clients interested in new mortgages), while CMHC and the Cdn gov't takes on no greater risk exposure for these mortgages since they were previously insured by them.

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Gina Burgio, Mortgage Agent
VERICO Designer Mortgages Inc.
Toll Free: 1-877-345-6265
Fax: 1-877-345-6256
Email: gina@ginaburgio.com
www.ginaburgio.com

Each VERICO Broker is an independent owner operator.

For many people, the idea of letting someone live in your home for a definite period of time seems foreign. But others view it as an opportunity to knock a few grand off their mortgage, especially if circumstance has them relocating to another city for an extended period of time.

Most Lease terms are for a period of one year, but can also be for longer periods. As always, you should work with your Realtor® to arrange the necessary paperwork. Not only to ensure that your rights are well protected, but to ensure that once you accept an offer, the transaction closes in a timely manner. This allows you to look forward to your pending move knowing, that your single biggest asset is well protected and your mortgage $15K - $20K lighter.

What are some conditions to include in a Residential Lease Agreement? Send me an email at szabolcs.pall@century21.ca to find out.

Among households that renovated in 2007, 41 percent contracted out all the work, while 31 percent did the work themselves or with the help of friends or family. Over a quarter of households who renovated did a mix of both hiring a contractor and doing a portion of the work themselves. In 2007, compared to 2006, the share of households that decided to do the work themselves decreased, while a larger share of households contracted out all the work or contracted out part of the work and did some themselves. What renovations are you prepared to attempt, and which ones will you contract out

Send your comments to szabolcs.pall@century21.ca