Buying Real Estate - Advice That Will Keep You From Making Mistakes

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Article Source: http://bestmortgagebrokers.net/


Whether for commercial or residential purposes, buying real estate today can be quite an experience, one that has shifting feelings, and one that carries a great deal of risk. If you aren't careful, you can find that your investment is made improperly, leading to loss, while you could also miss out on prime properties due to your lack of knowledge. Gain a greater idea of what to expect with these tips on buying real estate.
When considering purchasing a piece of real estate that will be your primary residence, you should visit the property several times at varying times of day. You want to see what it is like during the day when everyone is at work, at night when all your neighbors are at home, and on the weekend, when they may tend to throw loud parties.
Before buying a property, make sure you walk through the home a few times. This will help you to really get a feel for it. Nowadays, due to the internet and 'virtual tours', people are tempted to make an offer, simply by what they see on a realtor's website. This is a big mistake, as you only get to see the positive aspects of the home.
To make money off real estate, look for thriving areas in a promising metropolis. You can buy a home there at a reasonable price and sell it years later once the prices on the local real estate market go up. Ask the advice of a professional if you are not sure about investing.
Whether exciting or a task you must complete to enhance and expand your business, buying real estate is a venture that should never be taken with a blind eye. You should always know first what to expect and how to find the right real estate before you make any type of decision. With this article and its tips in mind, you could make a much more successful purchase.

New Home Sales Plummet by 8.1 Percent


Sales of newly built, single-family homes dropped 8.1 percent in June, the largest decline since July 2013, the Commerce Department reported Thursday. New-home sales were at a seasonally adjusted annual rate of 406,000 units in June. May’s sales pace was also revised from a previously reported 504,000 units to 442,000 units.
“The numbers are a little disappointing, but May was unusually high and some pull back isn’t completely unexpected,” says Kevin Kelly, chairman of the National Association of Home Builders. “Our surveys show that builders are confident about the future and we are still seeing a gradual upward trajectory in housing demand.” Across the country, new-home sales were down, falling by the largest amount – 20 percent – in the Northeast. New-home sales were also down by 9.5 percent in the South; by 8.2 percent in the Midwest; and by 1.9 percent in the West. Inventories of new homes for-sale rose 3.1 percent in June to the highest number since October 2010, reaching a 5.8-month supply at the current pace.
Builders are still optimistic that the new-home sector will see improvement later this year. “With continued job creation and economic growth, we are cautiously optimistic about the home building industry in the second half of 2014,” says David Crowe, NAHB chief economist. “The increase in existing home sales also bodes well for builders, as it is a signal that trade-up buyers can move up to new construction.”

5 tips for a happy retirement

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News Source: http://www.canadianmortgageupdates.ca/



A new book offers not just a plan to retire, but a way to do it sooner and to be happy when you do.

Financial planner Wes Moss, author of You Can Retire Sooner Than You Think: The 5 Money Secrets of the Happiest Retirees (McGraw Hill Education, $18), says if you hit a few benchmarks, then retirement starts to take on a new look.
A survey of 1,350 current retirees helped him identify a few traits that can make you happy, or unhappy, during your retirement years. These include a good cash cushion, but also activities, hobbies or interests you love to pursue.
Moss has five tips to help you get where you need to go.
The process starts with asking hard questions about your vision of a life without work. Will you travel? Stay at home? Volunteer? Keep working? How much will that life cost you?
Four of the five secrets to a happy retirement have to do with money, but the other one, the one about being happy, is what Moss always comes back to. Retirement gives you freedom, he says. Being able to fund the kind of retirement you desire gives you even more freedom. And freedom is what we all want.
Here are his five best practices for a happy retirement.
  • Determine what you want to spend your money on.
  • Figure out how much you need to save.
  • Create a plan to pay off your mortgage.
  • Develop an income stream from multiple sources.
  • Become an income investor.

Tips On Buying Your New Dream Home

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Article Source: http://bestmortgagebrokers.net/

There are so many things that need to be considered when buying real estate. Things from the property itself to the financing that is going to be needed to pay for it. This article was written to help you gain the knowledge and advice that is needed to make your experience a positive one.
When buying a home in the fall, remember to use closing as an opportunity to save even more money. You want to make sure not to turn the seller off by suggesting a price that is significantly lower than they want. However, you can save additional money through something called seller concessions; seller concessions are when the seller agrees to cover some of your closing costs. These are usually around two to nine percent of the purchase price.
To get the home you want, you should react very quickly. Once you have visited a place you think about buying, do not take more than a couple of days to think about your decision. You should definitely consider the pros and cons but keep in mind that somebody else might buy it before you take a decision.
Make sure that you are looking for a home that will adequately fit your family if you are planning on having children or already do. Pay attention to safety too, especially if the home you are looking at has stairs or a swimming pool. If you buy a house from a family who has raised their children in it, it should ensure that the house is relatively safe.
If you have learned the many helpful things that were intended for you to learn, you are ready to head out and start shopping the vast real estate market. Use the valuable information to your benefit and you are sure to have the positive experience that home buying can be.

Participants with mental illness, addictions thrive after being given apartments: five-year national study  Social housing study shows financial, life benefits

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Article Source: http://www.applymortgageonline.com/
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A five-year study that housed people with mental illness and drug addictions in apartments scattered throughout Vancouver found most participants stabilized their lives and coexisted peacefully with their neighbours.
The findings mean residents should not be afraid of social housing mixed into neighbourhoods throughout the city, concluded the Mental Health Commission of Canada’s final report into the Vancouver At Home/Chez Soi research project.
“Historically, projects in Vancouver that have tried to house people who were formerly homeless or experiencing mental illnesses in neighbourhoods outside of the Downtown Eastside have met opposition and sentiments of ‘not in my backyard’,” says the report, to be released today.
“That has not been the case for (Vancouver At Home) participants, who have successfully joined neighbourhoods scattered throughout the City of Vancouver.”
Indeed, just last year, Yaletown residents used social media to fight a winter homeless shelter in their neighbourhood and a group of Abbotsford business owners protested the creation of 20 housing units for homeless men because the building could scare away customers.
At Home study participants chose to live in apartments outside the Downtown Eastside, and acceptance from landlords and other tenants was “a hugely powerful part” of their transformation, said SFU health sciences Prof. Julian Somers, the Vancouver study’s lead investigator.
“I think people now understand to a greater degree that housing preference matters,” he said. “Regardless of the state of your mental health or your economics, within reason being able to exercise choice is pretty important to thrive in life.”
The final report into the Vancouver portion of the national Mental Health Commission of Canada (MHCC) study was provided early to The Sun.
The local arm of the $110-million federally funded study took 200 chronically homeless people off the street and put them in random apartments all over the city, where participants were living next door to the buildings’ other tenants.
The research project, which concluded a year ago, found those given homes, compared to a control group of 200 homeless people who were not given housing, had more stable living conditions, committed fewer crimes and relied less on social services.
The final results of the study — which was held in five Canadian cities — were released by MHCC in April, and found that paying for housing and support services for high-needs, homeless people cost nearly the same as leaving them on the street to rotate through shelters, emergency rooms and jails.
The price breakdown in Vancouver was similar: it cost, on average, $28,282 annually to provide housing and support to high-needs participants living in the scattered apartments; as a result, their lives stabilized and they used, on average, $24,190 less per year in social services, the MHCC report said.
That means that for every $10 invested in providing this “housing first” model of support, there was an average savings of $8.55 in avoided use of social services.
For the difference of $1.45, the participant went from living a chaotic life on the street, to living inside and starting to address challenges such as mental illness, addictions, terrible health, poverty and poor quality of life.
“It’s more possible than we thought to support rehousing and recovery for people who have been left out of housing and support for far too long,” said Somers.
“And their success stories can be remarkable, and surprising.”
Those in the high-needs group who were housed relied on emergency rooms “significantly” less and had far fewer criminal convictions compared to their years before entering the study.
They reduced their use of drop-in centres, ambulances and food banks, although more research is required to determine why in some categories use by the unhoused group also fell.
A portion of the 500 Vancouver participants were classified as moderate needs, and the financial and social results for them were not as black-and-white.
For example, intervention costs to provide services to the moderate needs group were, on average, $15,952 per year in Vancouver. But, instead of costing the health and social welfare system less once they were housed (such as the high needs group did), this less-marginalized group actually cost the system $2,667 more each year because their increased use of some services (community health centres and hospital medical units) were not offset by their reduction of use of other services.
Somers, though, argued the moderate needs folks would have cost the system more while living on the street (and, therefore, offset the study intervention costs) if there were more services available — such as drug treatment and mental health services — that they desperately need.
He also insisted this outcome does not mean this model doesn’t work for moderate-needs homeless people — only that intervention early can stop them from becoming a high-needs person, which ultimately costs the system more in crisis response.
“Just because it is cheaper (to leave moderate needs people on the street) than housing them, doesn’t some how lead to the inference that that is acceptable,” he said.
The 300 Vancouver study participants who were given homes are no longer receiving the same social services — and in some cases not living in the same housing — as they did during the study, although most are receiving some form of support.
The MHCC study increased the talk in Canada about the Housing First model — giving a chronically homeless person a place to live first, and then addressing other obstacles such as addictions and mental health.
The federal government pledged in 2013 to spend $600 million over the next five years on Housing First initiatives, because of the findings of the At Home study.
In a speech in Surrey Wednesday, federal secretary of state for social development, Candice Bergen, said $41 million of that money will be allocated to Metro Vancouver and implied it would be invested in neighbourhoods outside the Downtown Eastside.
“The Downtown Eastside is where many of the region’s homeless are found. It is an eye-opening experience to see their conditions firsthand,” Bergen said.
“That’s why our government has placed such an important priority on addressing the issue of homelessness through ... Housing First.”
Somers applauded Ottawa’s move, but said other governments and agencies need to do more.
“There is definitely a movement in the support for Housing First, we are moving in the right direction, but we are not there yet,” he said.
The Downtown Eastside is crammed full of service agencies because it is the last chance for people to rent a room near the welfare rate of $375. Ten years before the study started, Somers said, most participants lived in other neighbourhoods but gravitated to the DTES when their situations deteriorated.
The study’s final report found Vancouver’s homeless population, compared to the rest of Canada, was unique for its “geographic concentration” in the Downtown Eastside.
“The housing options available for people in these circumstances are limited and often of poor quality, which contributes to worsening health conditions and social exclusion,” the MHCC report says.
“Alongside the SROs, a high concentration of drop-in centres, community health clinics, outreach support services, and emergency shelters can be found in the DTES, which comprise a substantial proportion of usual care services for people experiencing homelessness and mental illnesses in Vancouver.”
The MHCC report says its research provides new evidence in the ongoing debate about how best to service Vancouver’s sizable homeless population.
“While service agencies and institutions have struggled to overcome differences of organizational cultures, mandates, and styles of work, the (Vancouver At Home) study has encouraged diverse stakeholder groups to come together and establish a common framework.”
Starting Saturday, The Vancouver Sun launches a four-day series that, for the first time in recent history, tallies the organizations providing services to the Downtown Eastside, as well as the annual costs in the neighbourhood.
The newspaper spoke to many experts about whether these services need to be scattered, in central hubs, to other neighbourhoods throughout the city to better serve our most vulnerable residents.