Localism: Hamilton Wentworth County, ON

Bank of Canada Hints of Possible Interest Rate Cut

Wed, 19 Nov 2008 20:54:24 -0600

Bank of Canada governor Mark Carney said in a speech recently that the Canadian economy has deteriorated more quickly than he had anticipated, hinting strongly he will cut interest rates at the next meeting on December 9.

This is also the first time that the Bank of Canada has conceded that the Canadian economy could be headed for a recession. "Starting from flat growth in the first quarter of 2009 and the second quarter of 2009 ... recession is a possibility for Canada," commented Carney.

The technical definition of a recession is two or more consecutive quarters of negative economic growth. The Canadian economy contracted in the third quarter ended and is expected to contract again in the current quarter ended Dec. 31.

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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.

Ten Reasons for a slow property sale

Tue, 18 Nov 2008 00:46:33 -0600

It's a slow economy and there are no easy answers. However, the basics still apply:

1) The home is too "lived in" and lacks visual appeal. Clean everything and lose anything personal. What's personal? Anything you wouldn't consider leaving for a new owner to enjoy.

2) The home lacks style and freshness. Would IKEA, Sears, or The Bay recognize any of your furnishings? If it didn't cost more than $5,000 per item, then it has NO current style.

3) The furnishings and layout make the property appear small. Do you like a huge, king size bed? Guess what... a single bed--even in a master bedroom--will appeal more to buyers than your masterpiece of wood and metal.

4) The kitchen and bathroom are dated and would be costly to change. Everyone (men included) look at kitchens first and bathrooms second. If those rooms don't meet their standards, forget the rest of the home.

5) The owner has a design scheme too personal to the owner. If you've made your second bedroom an office, consider reinventing it as a second bedroom. A third bedroom is good for an office but every home needs at least two (2) bedrooms, more likely three (3).

6) The house is cluttered and apears untidy, unappealing, and small. Junk takes up space. What is junk? Anything you wouldn't be proud to leave for the new owners.

7) The carpets and decorations are old and the viewer feels too much work will be required. Carpet is cheap...and even the low quality, low ounce carpeting looks better than 1970s shag!

8) The home is not dressed to appeal to the majority of buyers. Don't try to explain why your dining room is ideal as an office or bedroom. Turn it back into it's intended use...at least until the buyer signs the Purchase Agreement.

9) There are repairs that need completing, but the owner does not know reliable tradespeople to approach--or none have returned their calls. Many REALTORS(R) will suggest you don't repair certain things but, rather, negotiate repairs into your final sale price. If that's your plan, be sure you can tell a new buyer who can fix it, when they are available, and, essentially, what it will cost.

10) The economy. Of course that has an affect. Don't let anyone tell you otherwise. But remember, when you sell your home--for less than what you had hoped for--you will recoup that when you try the same tactic on the owner of the home you intend to buy next!

Timmy's to roast Ancaster?

Tue, 18 Nov 2008 00:10:55 -0600

The City of Hamilton has approved a $1.6+ million dollar purchase of Ancaster's industrial park by a company that is essentially a division of the Tim Horton Donut chain.

The 9.66 acre lot, purchased by Fruition Fruit and Fills is most likely the site of the Canadian icon's new roasting facility. As outlined in the company's 2007 Annual Report, the board of directors approved the development of a $30 million dollar coffee roasting plant in Southern Ontario.

Councillor Lloyd Ferguson would not confirm if the company was a Tim Hortons division as the details of the deal were discussed in camera at council Thursday night.

What does this mean for the Greater Hamilton area? Jobs...secure ones...soon!

Will it make the coffee around town as fresh as it used to be when yours truly was employed by the Timbit empire? Time will tell!

Robert J. Morrow is editor of www.HamiltonHomeReview.com, an online real estate magazine serving Greater Hamilton, Ontario. Click here for a FREE SUBSCRIPTION sent to your email monthly. Click here to receive new Hamilton area listings in your email daily. Robert is also a former marketing executive for Tim Donut Limited.

Realtor.ca sees improvements...It's a start!

Mon, 17 Nov 2008 23:24:57 -0600

This blog, amongst many others, has received many complaints--from both consumers and industry participants--that the new www.realtor.ca had "flaws", and didn't work as well as www.mls.ca.

In the recent edition of "Realinfo", a publication from the REALTORS(R) Association of Hamilton/Burlington, the writer states that "Based on member and user feedback, the MTC {Technology Council} is also reviewing some usability and design options. These are being tested with consumers.They effectively address identified navigation or usability issues.This includes complaints that photos are too small, the thumbnai information is not sufficient and listings are too hard to find. Changes affecting these features will be implemented as soon as possible."

"Effective November 20, the existing zoom level restriction will be removed. This was originally installed to avoid situations where a property not displaying an address could still be located on the maps. This is now much less of a concern, because 85% of all properties now allow for display of address. Elimination of the zoom level restriction will also resolve some consumer complaints. For example, some result displays now show only the "500 property" warning simply because there are too many properties in the area selected, even if it is the lowest current zoom level. The change will mean users can zoom in as close as they want to view the listings they want. This change will also resolve the complaint of the map continuously zooming in and out. This occurs because the visitor has selected the lowest possible zoom level, but keeps trying to go lower."

"CREA also continues to work on making the site compatible with MACs and Firefox browsers."

Will such changes actually improve the site? Only time will tell. But at least this means CREA is listening...doesn't it?

Please give www.realtors.ca another shot...and let us know what you think.

*above paragraphs reprinted unabridged fromRealinfo, November, 2008.

Robert J. Morrow is editor of www.HamiltonHomeReview.com, an online real estate magazine serving Greater Hamilton, Ontario. Click here for a FREE SUBSCRIPTION sent to your email monthly. Click here to receive new Hamilton area listings in your email daily.

Grand Opening Announcement - Ancaster, Ontario

Thu, 13 Nov 2008 01:41:13 -0600

I am pleased to announce that the grand opening of our Ancaster office is scheduled for December 1, 2008.

The new office will be located at 911 Golf Links Road in the Meadowlands area of Ancaster, Ontario.

We are excited about the opening of this new location and are looking forward to serving members of the community and the surrounding areas from this location. I would like to also thank our clients for their ongoing support.

Call today at 1-877-345-6265 to book an appointment to discuss your mortgage needs!

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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.