Our furry friends are a big part of what makes home an awesome place to be. As a leader in finding homes for people for the past 111 years, Coldwell Banker is continuing it’s Homes For Dogs Project, which helps to find homes for man’s best friend – because everyone deserves a loving home.
On Saturday, April 27, 2019 Coldwell Banker OnTrack Realty is partnering with Saving Grace Animal Society for our first annual Homes For Dogs Pet Adoption Drive. Hosted by Head Over Tails Daycare at #3 7023 Johnstone Drive, Red Deer it will run from 11am-4pm, and we will have a a variety of ready to adopt and deserving dogs and puppies.
So mark your calendar and bring the whole family down to Head Over Tails Daycare to meet the deserving rescue from Saving Grace Animal Society that will make your house a home.
Together with our Agents, The Gift of Blue Gives Backcan make a real difference in the lives of those less fortunate in our community.
What a privilege it was to drop off a bunch of clothes to Home of Hope on behalf of Coldwell Banker Ontrack Realty Always feels great to donate to a good cause. If you are ever looking for a great charity to donate to check out home of hope at www.homeofhope.ca
Coldwell Banker OnTarck Realtywas happy to donate toDreams Take Flight. Its a national volunteer charitable organization dedicated to providing the trip of a lifetime to medically, mentally, physically, socially or emotionally challenged children. With the aid of Air Canada, other national and local organizations and businesses, money is raised to make the dream a reality in Vancouver, Edmonton, Calgary, Winnipeg, Toronto, Ottawa, Montreal and Halifax. Funds not required for its primary purpose can be gifted by Dreams Take Flight to other registered charities that benefit physically, mentally or socially challenged children and are within the policies adopted by Dreams Take Flight Canada. Thank you Mary for organizing the bottle drive and delivering them ! #bluegivesback#dreamstakeflight
The spring real estate market is about to hit its seasonal high. If you will be buying a home this spring, whether for the first-time or not, it’s helpful to identify a few real estate basics that every buyer should know.
With the spring real estate market about to hit its seasonal high, buyers and sellers will be flocking onto the scene. If you will be buying a home this spring, whether for the first-time or not, it’s helpful to identify a few real estate basics that every buyer should know.
A statement that indicates the official value of a property.
B: Bridge Loan
A short-term interim loan that is made to a buyer to purchase a new home before they have sold their current home and can use the equity towards the new purchase.
C: Closing Costs
Costs paid over and above the selling price of a property — this includes legal and administrative fees to finalize a home purchase and can typically run several thousand dollars when buying a home.
D: Debt to Income Ratio
Used by lenders and is calculated by determining an individual’s total debt compared to total income.
In real estate terms, equity is the difference between the total value of a property and the amount left owed on the mortgage.
Something movable that is physically attached to a home, such as a light fixture or wall shelf. Unless specifically excluded from a contract, a fixture is deemed to remain with the house upon sale.
G: Government Loan
A government run program that provides purchasing assistance for first-time and other qualified buyers to assist in entering the real estate market.
H: Home Inspection
One of the most important aspects of the home buying or selling process, a home inspection is a visual accounting of a home’s current condition, which is completed before the sale of a home is finalized.
A must-have item for purchasers, the cost of home insurance and required coverage should be obtained by all buyers prior to purchasing a home.
J: Joint Tenancy
The ownership of a property held joint by two or more individuals to whom ownership passes upon the death of one of the parties.
K: Knob and Tube
A rudimentary system of electrical wiring, used up to the 1950s and consists of tubes held in place by porcelain knobs. A home containing knob and tube may have difficulty securing home insurance and is a consideration for potential buyers to have replaced.
L: Liens and Encumbrances
A lien is a form of security which can be held for the payment of debt. Encumbrances are other restrictions on the property including setbacks, and right-of-ways that can complicate the sale process.
A loan to cover the purchase of a home, usually amortized over several decades.
N: Non-Load Bearing Wall
When considering a home for renovation, a non-load bearing wall is one that doesn’t support the structure of a home, thus can be removed.
The legal contract to purchase or sell a home.
P: Property Tax
A mandatory fee paid yearly to a local government body for basic services such as garbage and street lighting.
R: Real Estate Agent
A highly skilled real estate professional who assists buyers and sellers during the sale process.
A map showing the official boundaries of a property.
T: Title Search
An administrative search to ensure that no liens or other encumbrances exist on a property.
Fees paid for services such as water, sewer, electricity, and gas, which are part of a home’s annual operating costs.
The seller of a home.
A private, agent-guided tour of a property for sale.
The physical space surrounding a house that requires upkeep and maintenance.
The regulation that determines the use of buildings and other areas, such as residential, commercial, or agricultural.
(Note: The letters Q and X were purposefully omitted.)
Coldwell Banker has taken part in this Annual Toy Drive for 3 years now. Toys were collected by Coldwell Banker volunteers and are distributed to a variety of different charities such as women’s and children’s shelters.
The Bank of Canada said this week that it could push interest rates below zero if the nation faced an economic crisis. The central bank stressed that it was updating its economic toolbox and would only embark on negative interest rates in times of crisis.
What are negative interest rates and how do they work?
The central bank currently pays banks interest on the funds they park at the Bank of Canada. If rates are slashed below zero – known as negative interest rates – banks would be required to pay the central bank to hold their deposits.
For example, if rates were minus 0.5 per cent (the lowest level the Bank of Canada said they would go), a bank would have to pay the central bank $5,000 on a $1-million deposit. The European Central Bank cut rates below zero to reinvigorate the euro zone’s economy. Switzerland also chopped rates below zero to slow the ascent of its currency and discourage investors from parking their funds in the European country.
The Bank of Canada already cut interest rates twice this year to 0.5 per cent, in a bid to stimulate the economy. Canada has never operated in a sub-zero interest rate environment.
What do they mean for banks?
If banks have to pay to park their money with the Bank of Canada, this could eat away at their profits. According to a Bank of Canada discussion paper, banks with a larger retail business would be hit harder than those focused on corporate banking, as it may be easier to “pass negative rates through to corporate clients than to retail clients.”
“Banks could mitigate a decline in profitability by increasing charges on accounts, raising fee-based revenue or reducing deposits, but these efforts may not be fully offsetting,” the discussion paper said.
What do they mean for the economy?
Think of it as an added incentive to get banks to do something with their money – that is, to lend or invest. Negative interest rates punish banks for parking their excess funds at the Bank of Canada by making it more expensive for banks to hoard cash. The deposit costs are supposed to encourage the banks to lend or invest.
Assuming banks will have no appetite to lend during an economic crisis and consumers will be unwilling to borrow, the negative interest rate is supposed to encourage lending and borrowing.
“It effectively means the whole structure of interest rates will go lower than where we are,” said Doug Porter, chief economist with the Bank of Montreal.
So, if the Bank of Canada slashes rates to minus 0.5 per cent, that would theoretically mean that the banks would lower their prime lending rates to between 1 and 1.15 per cent. However, Mr. Porter said, this would be an act of desperation. “When we get down to these levels, each additional cut tends to have less and less impact.”
What does this mean for consumers?
So, the bank isn’t going to pay you to borrow funds, but you will essentially get to borrow money for free.
The cost of borrowing will be close to 0 per cent. “If you have a job and you are secure and you are doing great in this kind of crisis, you are laughing because you can borrow at zero,” said Benjamin Tal, deputy chief economist with CIBC.
At the same time, banks may decide to pass on the extra costs to their customers and charge them to safeguard their cash.
So what is a depositor supposed to do? You can take your money out of the bank and invest it in an asset, such as a bond, or you can bring it home and store your cash in your mattress.
“You definitely have to invest in a good alarm company. Are you going to be comfortable every time you leave the house if you have thousands of dollars there?” Mr. Tal said.