Winter Carnival will be held over 2 big weekends February 6 to 8 and February 13 to 15.
Winter Carnival
this year has the theme
"Benguin Goes Hollywood
"
"Follow www.grandbendtourism.com/february.htm
for a full list of events and activities.
Wednesday, January 14, 2009
Monday, January 5, 2009
Whats Happening in 09
There have been many thoughts and opinions published on what 2009 will be like, most are less than positive for most sectors of the economy. I naturally get asked about housing and mortgages.
In the resale market along Lake Huron the last two months of 2008 definitely slowed and while that normally happens there was a noticeable lack of activity this past year.
What then for 2009.
If you listen to or read our friends in the media you might be inclined to dig a hole and hide in it especially if it is US media and to a large extent Canadian media using negative headlines on US stories.
New house starts are definitely down, but down from record numbers since the start of 2000. Re-Sales are also down but again down from record numbers in this century.
Listings are up creating an adjustment to the marketplace resulting in a more balanced marketplace and turning from a Sellers market to a moderate Buyers market.
In our area along Lake Huron a large number of properties were bought in the last few years by Americans taking advantage of the huge difference in Buying power the Us dollar had, as much as 40% at one time. This surge drove Lakefront prices to more than double. This past year we've seen many of these properties come up for re-sale as many Americans facing uncertainty back home cash out. This has virtually eliminated further large increases in Lakefront values and in many cases lowered previous asking prices. The upsurge in Lakefront prices dragged other resort properties up and the drop in Lakefront prices is now moderating those prices as well. How much.... 5 to 10%. Will they continue to fall....... Not likely as there is still a demand for Vacation and Retirement properties and as long as there is water in Lake Huron there will be demand. Insofar as Lakefronts many may be waiting for further drops but remember they're not making any more of it so there is only a limited supply and prices will continue to reflect that.
Mortgages are at a 50 year low and there is money to lend. The factors that created the US mortgage crisis largely do not exist in Canada. Underwriting standards have been and are tougher and Canadians generally do not borrow or leverage their homes as much as Americans. The average Canadian homeowner has a 69% equity stake in their home The US homeowner 45%. So called "teaser" mortgages ie lower initial interest rates that reverted to much higher rates later, were not offered here. The percentage of Canadian mortgages in default is .3 % while its 4.5 % and rising in the US.
In short it is now a very good time to Buy. Inventories of resales are high offering a better selection than in the past, prices have moderated, and mortgage rates are unbelievably low and most of all don't forget properties on or with access to the Lake are limited in supply and they are not making any more.
Thursday, December 11, 2008
Friday, November 28, 2008
Ways to welcome winter
As Canadians, we tend to think of winter as something
we need to endure, rather than something we can actually
enjoy. In this, we tend to differ from other northerly cultures, like Scandinavia,
where both rural and urban citizens are more likely to celebrate the cold winter season as part of
the natural heritage. They’re a hardy lot. Us, we prefer to shiver our way from one warm place
to another… and preferably quickly.
But instead of cursing the cold this winter, try finding some ways to celebrate winter – whether
you’re inside or out:
1. Try a new outdoor winter sport. Take a
snowboard lesson if you haven’t tried this
great sport yet. If you haven’t been snowshoeing
since childhood, you’ll be surprised to find
new light-weight, comfortable and almost elegant
snowshoes out there on the market. It’s a
completely different sport than the one you
may remember. Try something new.
2. Rediscover your childhood. Nothing beats a
hill, a toboggan and a group of family or
friends. Age doesn’t matter either – so long as
the tobogganers are fit enough for the tough
part: slogging back up the hill with toboggan
in tow. This sport is just as much fun as you
remember. And the hot chocolate at the end of
the day tastes just as good as ever.
3. Go for walks in the sunshine. There’s less
sun in the winter months – much less in some
areas of the country. So if you get a sunny winter
day, bundle up and head out to enjoy the
winter. Be sure to dress for the weather… and
don’t forget your sunglasses.
4. Be a winter animal detective. Look for animal
tracks in the snow and try to figure out
what kind of animal made them and what they
were doing.
5. Find a starry window. On a clear winter
night, wrap yourself in a warm blanket, turn
the lights off, and curl up to look at the stars.
Find the Big and Little Dippers, and then try to
identify all the constellations you can. If you’re
very lucky, you may even spot the Northern
Lights.
6. Have a skating party. If you don’t have a little
ice pad of your own, you may be able to
rent a school or public rink. Cook a big pot of
chili and have lots of mugs and spoons so
everyone can refuel quickly.
7. Host a games night. Put a fire in the fireplace,
set out some snacks and dig out all
your old board games. Risk, Monopoly, or
Scrabble … it’s a great way to spend a winter
evening with friends.
8. Make ice lanterns! Fill a bucket with water,
and then float a smaller container (like a topless
juice can) in the centre. You can use tape
to hold the juice can down, or set a heavy
object like a stone tile on top. Set outside in
freezing weather, or use your chest freezer. To
unmold, pour some lukewarm water into the
juice can to loosen it, and then set the bucket
into a bath of lukewarm water to release your
ice lantern. Set a votive candle in your ice
lantern by your front door. Lots of time or lots
of buckets? Make a row leading to the house!
9. Catch up on reading! Get out a stack of
books, find a warm chair and catch up on
those novels you’ve been meaning to read. It’s
a perfect way to spend a quiet winter afternoon
or evening.
10. Perfect your homemade hot chocolate.
This recipe couldn’t be simpler: chop up 6 oz.
of your favourite semisweet chocolate, and
put into a heat-proof pitcher along with a few
cinnamon sticks. Heat 4 cups of milk to almost
scalding, then pour into pitcher and stir until
chocolate is melted.
Whatever you do, take pictures, so you can remember your winter fun!
we need to endure, rather than something we can actually
enjoy. In this, we tend to differ from other northerly cultures, like Scandinavia,
where both rural and urban citizens are more likely to celebrate the cold winter season as part of
the natural heritage. They’re a hardy lot. Us, we prefer to shiver our way from one warm place
to another… and preferably quickly.
But instead of cursing the cold this winter, try finding some ways to celebrate winter – whether
you’re inside or out:
1. Try a new outdoor winter sport. Take a
snowboard lesson if you haven’t tried this
great sport yet. If you haven’t been snowshoeing
since childhood, you’ll be surprised to find
new light-weight, comfortable and almost elegant
snowshoes out there on the market. It’s a
completely different sport than the one you
may remember. Try something new.
2. Rediscover your childhood. Nothing beats a
hill, a toboggan and a group of family or
friends. Age doesn’t matter either – so long as
the tobogganers are fit enough for the tough
part: slogging back up the hill with toboggan
in tow. This sport is just as much fun as you
remember. And the hot chocolate at the end of
the day tastes just as good as ever.
3. Go for walks in the sunshine. There’s less
sun in the winter months – much less in some
areas of the country. So if you get a sunny winter
day, bundle up and head out to enjoy the
winter. Be sure to dress for the weather… and
don’t forget your sunglasses.
4. Be a winter animal detective. Look for animal
tracks in the snow and try to figure out
what kind of animal made them and what they
were doing.
5. Find a starry window. On a clear winter
night, wrap yourself in a warm blanket, turn
the lights off, and curl up to look at the stars.
Find the Big and Little Dippers, and then try to
identify all the constellations you can. If you’re
very lucky, you may even spot the Northern
Lights.
6. Have a skating party. If you don’t have a little
ice pad of your own, you may be able to
rent a school or public rink. Cook a big pot of
chili and have lots of mugs and spoons so
everyone can refuel quickly.
7. Host a games night. Put a fire in the fireplace,
set out some snacks and dig out all
your old board games. Risk, Monopoly, or
Scrabble … it’s a great way to spend a winter
evening with friends.
8. Make ice lanterns! Fill a bucket with water,
and then float a smaller container (like a topless
juice can) in the centre. You can use tape
to hold the juice can down, or set a heavy
object like a stone tile on top. Set outside in
freezing weather, or use your chest freezer. To
unmold, pour some lukewarm water into the
juice can to loosen it, and then set the bucket
into a bath of lukewarm water to release your
ice lantern. Set a votive candle in your ice
lantern by your front door. Lots of time or lots
of buckets? Make a row leading to the house!
9. Catch up on reading! Get out a stack of
books, find a warm chair and catch up on
those novels you’ve been meaning to read. It’s
a perfect way to spend a quiet winter afternoon
or evening.
10. Perfect your homemade hot chocolate.
This recipe couldn’t be simpler: chop up 6 oz.
of your favourite semisweet chocolate, and
put into a heat-proof pitcher along with a few
cinnamon sticks. Heat 4 cups of milk to almost
scalding, then pour into pitcher and stir until
chocolate is melted.
Whatever you do, take pictures, so you can remember your winter fun!
Courtesy Mortgage Intelligence
HO Address: 2900-3300 Bloor Street West, 9th Floor Centre Tower Etobicoke ON M8X 2X9
Wednesday, November 5, 2008
Take Control of Your Home The equity you’ve built up in your home can be a powerful financial planning tool. Through mortgage refinancing, you can access that equity to pay for home improvements, consolidate debt,purchase a vacation property or invest in your future.
The term ‘refinance’ means to pay in full and discharge a pre-existing mortgage with the proceeds of a new mortgage. When a borrower secures a new mortgage that is larger than the pre-existing mortgage, it is called an ‘equity take-out’.
In some instances, rising levels of consumer debt – often financed by high-interest credit cards – and relatively low mortgage rates prompt homeowners to look more closely at how their homes can help them increase liquidity and improve their overall financial situation.
In other cases, homeowners leverage mortgage refinancing for renovations that, in turn, boost the values of their homes.
If you are considering mortgage refinancing, you will need to first thoroughly review your existing financial situation and mortgage commitments with your financial advisors. Potential short-term gains, such as lower monthly payments, should align with your long-term planning goals. As with so many financial planning exercises, one size does not fit all.
Why Refinance?
There are many reasons to use your home equity to secure additional credit at competitive interest rates.
• Debt consolidation – since mortgage rates are generally lower than other forms of borrowing, you can use the equity in your home to pay in full high interest/high payment debts such as credit cards.
• Home renovations - the equity in your home can be used to finance home improvements, which can potentially increase your home’s value.
• Second property - by leveraging your home equity, you could purchase an investment property or vacation property.
• Investments - the equity in your home can be reinvested in other investments, such as mutual funds or stocks. In fact depending on your investments and your circumstances, a portion of the interest you pay on your mortgage may be tax deductible.
• Education - you can refinance your home to fund education costs for your children, or for yourself, as an alternative to liquidating other investments or RRSPs.
• Retirement planning – your home equity can also be used to make RRSP contributions. In many cases, the compounding benefits of long-term investments and tax deferrals could outweigh the penalty costs of a discharging an existing mortgage.
Calculating the Benefits
Depending on your situation, you might consider one of the following approaches when refinancing your home:
• breaking your existing mortgage and applying for a new one,
• increasing your existing mortgage with your existing lender,
• taking a second mortgage,
• applying for a home equity secured line of credit.
Speak with a Mortgage Intelligence independent consultant to assess the potential benefits and compare your current debt payment schedule against one that takes advantage of a refinanced mortgage. E-mail Larry Broadley today. larryb@hay.net
Before making any decisions about your mortgage, it is a good idea to complete a review of your current financial situation. Below are some key items to document as you get started.
The term ‘refinance’ means to pay in full and discharge a pre-existing mortgage with the proceeds of a new mortgage. When a borrower secures a new mortgage that is larger than the pre-existing mortgage, it is called an ‘equity take-out’.
In some instances, rising levels of consumer debt – often financed by high-interest credit cards – and relatively low mortgage rates prompt homeowners to look more closely at how their homes can help them increase liquidity and improve their overall financial situation.
In other cases, homeowners leverage mortgage refinancing for renovations that, in turn, boost the values of their homes.
If you are considering mortgage refinancing, you will need to first thoroughly review your existing financial situation and mortgage commitments with your financial advisors. Potential short-term gains, such as lower monthly payments, should align with your long-term planning goals. As with so many financial planning exercises, one size does not fit all.
Why Refinance?
There are many reasons to use your home equity to secure additional credit at competitive interest rates.
• Debt consolidation – since mortgage rates are generally lower than other forms of borrowing, you can use the equity in your home to pay in full high interest/high payment debts such as credit cards.
• Home renovations - the equity in your home can be used to finance home improvements, which can potentially increase your home’s value.
• Second property - by leveraging your home equity, you could purchase an investment property or vacation property.
• Investments - the equity in your home can be reinvested in other investments, such as mutual funds or stocks. In fact depending on your investments and your circumstances, a portion of the interest you pay on your mortgage may be tax deductible.
• Education - you can refinance your home to fund education costs for your children, or for yourself, as an alternative to liquidating other investments or RRSPs.
• Retirement planning – your home equity can also be used to make RRSP contributions. In many cases, the compounding benefits of long-term investments and tax deferrals could outweigh the penalty costs of a discharging an existing mortgage.
Calculating the Benefits
Depending on your situation, you might consider one of the following approaches when refinancing your home:
• breaking your existing mortgage and applying for a new one,
• increasing your existing mortgage with your existing lender,
• taking a second mortgage,
• applying for a home equity secured line of credit.
Speak with a Mortgage Intelligence independent consultant to assess the potential benefits and compare your current debt payment schedule against one that takes advantage of a refinanced mortgage. E-mail Larry Broadley today. larryb@hay.net
Before making any decisions about your mortgage, it is a good idea to complete a review of your current financial situation. Below are some key items to document as you get started.
Your Home’s MarketValue: $
What do you estimate is the current market value of your home?
Your CurrentMortgage: $
What was the principal balance of your mortgage at start of term?
What will the principal balance of your mortgage balance be at end of your term?
What is the original start date of your mortgage term?
When does your mortgage mature/renew?
What is the amortization period of your mortgage?
Who is your current lender?
What interest rate are you paying now?
What is your payment frequency (monthly, weekly, bi-weekly)?
How much are your regular payments?
PrepaymentPenalties for Your Existing Mortgage: $
You will likely be required to pay a prepayment penalty if your mortgage is discharged mid-term. Lender prepayment policies should be detailed in your mortgage documentation.
Total monthlypayments on existing obligations $
Includes automobile loans, student loans, credit cards, alimony, etc.
Gross annual income $
our family’s total income from all regular sources.
Total monthlypayments on existing obligations $
Includes automobile loans, student loans, credit cards, alimony, etc.
Gross annual income $
our family’s total income from all regular sources.
This is YourMortgage Profile
Once you have defined your mortgage profile, work with Larry Broadley a mortgage professional to review all of your options. larryb@hay.net
FSCO Lic.10428
Central Office: 2900-3300 Bloor St. W., Centre Tower - 9th Floor, Etobicoke, ONM8X 2X3 ® Registered trademark of Mortgage Intelligence Inc. © Copyright 2008, Mortgage Intelligence Inc., all rights reserved.
Central Office: 2900-3300 Bloor St. W., Centre Tower - 9th Floor, Etobicoke, ONM8X 2X3 ® Registered trademark of Mortgage Intelligence Inc. © Copyright 2008, Mortgage Intelligence Inc., all rights reserved.
Thursday, June 26, 2008
Changes, Changes, Changes in Grand Bend
Sanders bites the dust as crews begin tearing down this famous Grand Bend Landmark on the Beach.Monetta Menards before that Sanders comes down to make way for 6 new condos to be built this Fall.
Other changes in Town have the former Finnegans being replaced by Archies Sugar Shack. The former Grapevine/Coconut Bay is now Grandpa Jimmy's Scottish Bakery.
The Greek is now Paddington's Pub and we're anxiously awaiting the opening of The Pirates Eatery on River Road down by the Harbour where Capt Nemos was. Purdy's Landing beside that has three new artist studios who have just opened including a revamped River Road Gallery.
Wednesday, May 21, 2008
READY TO REINVENT YOUR SPACE?
The lure of a stunning gourmet kitchen or sparkling
spa-style bathroom may have you chomping at the
bit to begin a home renovation but if you heed the
advice of experienced renovators, pre-planning and
advanced preparation are the secrets to renovation
success. Here’s a helpful checklist to get your renovation
started on the right track.
Prepare a realistic budget
Determine how much you are prepared to spend
on your renovation. Obtain a few quotes from
professional renovators to see if your budget is
realistic. As you refine your plans, your budget can
be fine-tuned. Remember to boost your budget by
at least 10 % for unexpected costs.
Decide what you want to do
For most people, this is the fun part – flipping
through magazines and watching home decorating
shows to get inspired. But it is also one of the most
critical phases in any home renovation. Create a
folder with photos and examples of what you hope
to achieve and include a list of issues you want
your renovation to resolve.
Arrange for financing
Get financing in place early to plan your renovation
with confidence. Leveraging the equity in your
home is often the best option. As a secured loan,
you can usually obtain an attractive interest rate
and with flexible repayments, this option can be
easy on your cash flow. Other alternatives include
refinancing your existing mortgage or arranging
for a second mortgage on your home. To obtain
the best possible terms, be sure to work with an
independent mortgage professional who can shop
the market for you.
Select the right team
You’ll want to entrust your project to people known
for their quality of work. Depending on what your
renovation involves, you may need a designer
to come up with an overall design and plan.
Your contractor, who does the construction or
subcontracts it to other trades people, will work with
you or your designer to implement your plan.
Ask for recommendations from friends and family,
interview prospective candidates and always
check references.
Stick with your plan
With a sound plan, reasonable budget, financing
in place and a team that you trust, your renovation
can get off on the right track. To keep it there,
minimize changes and make yourself available for
decisions so that your renovations can proceed on
schedule. Remember to keep your eye on the prize
– it won’t be long before the dust settles and you
can enjoy your amazing new space.
According to the Canada Mortgage and Housing
Corporation (CMHC), Canadians spend substantial
sums on renovations – they project more than
$50 billion will be spent on home improvement
projects in 2008. To make sure you get the most for
your renovation dollars, follow the lead of experienced
renovators and plan ahead for success.
spa-style bathroom may have you chomping at the
bit to begin a home renovation but if you heed the
advice of experienced renovators, pre-planning and
advanced preparation are the secrets to renovation
success. Here’s a helpful checklist to get your renovation
started on the right track.
Prepare a realistic budget
Determine how much you are prepared to spend
on your renovation. Obtain a few quotes from
professional renovators to see if your budget is
realistic. As you refine your plans, your budget can
be fine-tuned. Remember to boost your budget by
at least 10 % for unexpected costs.
Decide what you want to do
For most people, this is the fun part – flipping
through magazines and watching home decorating
shows to get inspired. But it is also one of the most
critical phases in any home renovation. Create a
folder with photos and examples of what you hope
to achieve and include a list of issues you want
your renovation to resolve.
Arrange for financing
Get financing in place early to plan your renovation
with confidence. Leveraging the equity in your
home is often the best option. As a secured loan,
you can usually obtain an attractive interest rate
and with flexible repayments, this option can be
easy on your cash flow. Other alternatives include
refinancing your existing mortgage or arranging
for a second mortgage on your home. To obtain
the best possible terms, be sure to work with an
independent mortgage professional who can shop
the market for you.
Select the right team
You’ll want to entrust your project to people known
for their quality of work. Depending on what your
renovation involves, you may need a designer
to come up with an overall design and plan.
Your contractor, who does the construction or
subcontracts it to other trades people, will work with
you or your designer to implement your plan.
Ask for recommendations from friends and family,
interview prospective candidates and always
check references.
Stick with your plan
With a sound plan, reasonable budget, financing
in place and a team that you trust, your renovation
can get off on the right track. To keep it there,
minimize changes and make yourself available for
decisions so that your renovations can proceed on
schedule. Remember to keep your eye on the prize
– it won’t be long before the dust settles and you
can enjoy your amazing new space.
According to the Canada Mortgage and Housing
Corporation (CMHC), Canadians spend substantial
sums on renovations – they project more than
$50 billion will be spent on home improvement
projects in 2008. To make sure you get the most for
your renovation dollars, follow the lead of experienced
renovators and plan ahead for success.
Larry Broadley Mortgage Broker
Central Office: 3250 Bloor Street West, East Tower, Suite 1400, Toronto, ON M8X 2X9 ® Registered trademark of Mortgage Intelligence Inc. © 2007, Mortgage Intelligence Inc., all rights reserved.
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