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HUFFINGTON POST
By Ann Brenoff
How Do Mortgage Lenders Decide If You're Creditworthy?
It's complicated, but this breakdown of the loan process is easy.
Applying for a mortgage is arguably everyone's least-favorite and least-understood part of the home buying process. Nobody enjoys assembling the mountain of paperwork required for a loan application.
But 90 percent of us need a mortgage load to buy a house. So it behooves us to learn what prospective lenders really want to see in all the pay stubs and bank records they ask for. How do they decide who gets a loan? What matters the most?
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HUFFINGTON POST
By Daniel Tencer
New Mortgage Rules Will Disqualify 1 In 10 Would-Be Borrowers, Bank Of Canada Says
The bank reiterates its concerns about Canadians' debt, but sees some signs of improvement.
New mortgage rules coming into effect in January will disqualify about 10 per cent of prospective homebuyers from buying the home they want, the Bank of Canada says.
Under new rules put into place by Canada's banking regulator, OSFI, borrowers of traditional mortgages (with 20 per cent or more down) will have to qualify at a rate that is two percentage points higher than the lender's offered rate. It follows a similar rule put into place last year for borrowers with less than 20 per cent down.
The measure is designed to help reduce Canadians' household debt, which has grown to be among the highest in the world.
According to an analysis from the Bank of Canada, released as part of its financial system review on Tuesday, the new rule will disqualify 10 per cent of prospective mortgage borrowers, impacting some $15 billion worth of mortgages.
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Calgary Herald
CMHC explores cutting red tape to make it easier for self-employed to get a mortgage
Proving income can discriminate against people starting a business and new Canadians
OTTAWA - The national housing agency is exploring ways to make it easier for entrepreneurs and new immigrants to buy a home by cutting some of the red tape required to prove they can afford to pay the mortgage.
"Right now, under our mortgage insurance policies, you have to be able to document income to get mortgage insurance, to a level of specificity that discriminates against new Canadians, because they can't do that," Evan Siddall, the CEO of the Canada Mortgage and Housing Corp., said in a wide-ranging interview with The Canadian Press.
"It discriminates against entrepreneurs, as well, because they can't prove their income as well, so we're looking at our own policies to try and make sure that there is more equity in our mortgage insurance programs," he said.
Anyone who wants to buy a home in Canada without a down payment of at least 20 per cent of the purchase price is usually required to get mortgage loan insurance from the CMHC, which requires a smaller down payment of five per cent on a home worth up to $500,000.
A 10-per-cent down payment is required for the portion of the price over $500,000, with $1 million being the maximum property value allowed.
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Calgary Herald
Even with electric cars, world oil demand expected to grow for years
Even the spread of alternative-fuel vehicles and increased energy efficiency won't quickly stop the growing international demand for oil, a speaker at an Edmonton energy symposium said Wednesday.
About five million electric and hybrid vehicles are expected to be sold this year, rising to 30 million cars, trucks and other vehicles in 2030, or approximately five per cent of the world's fleet, said Julie Afanasiff, senior vice-president of Sequeira Partners Inc.
This would cut oil consumption by 1.2 million barrels a day, or as much as 2.3 million barrels if these vehicles made up 10 per cent of the fleet, she told the audience at the event organized by her company.
Improving internal-combustion engines will likely eliminate the need for oil by a further six million barrels a day.
However, Afanasiff said analysts still see the demand for oil going up from about 100 million barrels a day this year.
Goldman Sachs predicts it will increase to 109 million barrels by 2030, the International Energy Agency sees it growing to 105 million barrels a day by 2040 and the U.S. Energy Information Administration expects 122 million barrels a day by 2050, she said.
"The consensus on that is we're unlikely to hit peak demand anytime before 2030 ... I think people believe there will be a decline at some point, but they're not sure when it will happen."
Rising populations and economic activity are the main reasons for higher oil consumption, although it's being tempered by switching to renewables and a continuation of the 30-year trend of using less energy to create economic growth, Afanasiff said.
TO READ MORE...click on the link below.
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BuzzFeed
Clogged Sink? Fix It In No Time With This DIY Drain-O
No need for scary chemicals.
Supplies:
Baking soad
Salt
White vinegar
Instructions:
2. Mix equal parts baking soda and salt in a bowl.
3. Pour baking soda mixture down the drain.
4. Next, pour warm vinegar down the drain and let sit for a few minutes.
5. Finally, pour boiling water down the drain until it clears.
6. Return the drain cap to its place and you're good to go!
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HUFF POST
By Pete Cataldo
10 Productivity Hacks For Busy Parents
Click on the link below for 10 tips for finding some extra room in the day to get more done (so we can all get back to the important things, like enjoying that wine
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Huffington Post
By Paige Smith
Believe It Or Not, There's A Smart Way To Procrastinate
The key is to do it on purpose.
How many times have you started an important task, only to find yourself mindlessly scrolling through Instagram 20 minutes later and then chastising yourself for getting distracted?
Because of common (read: inevitable) instances like this, most people have negative, guilt-inducing associations around the concept of procrastination. But Dr. Josh Klapow, a clinical psychologist and co-host of the radio show "The Web," says procrastination itself isn't necessarily a bad thing. It's how you approach it that determines whether it becomes a burden or a tool.
Procrastination is defined simply as "the act of delaying or postponing something," Klapow said. But "most of us see it as a sign of fear, laziness, or otherwise avoidance behavior."
This, however, isn't always the case. Klapow said the key to using procrastination to your advantage is to take an active approach instead of a passive one.
"Never allow yourself to say, 'I'm going to get to it.' That is setting yourself up for failure," he said.
Instead, use a method he calls "planned procrastination," where you ask yourself why you need to delay taking action on something - maybe you're too overwhelmed, too sleep-deprived to focus, or don't yet have the right resources - and then postpone your task for a specific day and time. The difference here is intention. You're consciously deciding how to spend your time, rather than letting procrastination be something that happens to you.
Next time you find yourself on the verge of procrastinating - by logging on to social media, perhaps, or leaning over your desk to chat with a co-worker - stop and ask yourself Klapow's questions:
1. Is this task something I truly don't have time for?
2. Is it something I have time for but don't want to do?
3. Is it something I'm afraid to do?
4. Or something I don't know how to do?
READ THE ARTICLE
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12 Daily Habits Of Exceptional Leaders
HUFFINGTON POST
By Dr. Travis Bradberry
Great leadership is indeed a difficult thing to pin down and understand. You know a great leader when you're working for one, but even they can have a hard time explaining the specifics of what they do that makes their leadership so effective.
Great leaders change us for the better. They see more in us than we see in ourselves, and they help us learn to see it too. They dream big and show us all the great things we can accomplish.
Great leadership is dynamic; it melds a variety of unique skills into an integrated whole. Great leadership is also founded in good habits. What follows are the essential habits that exceptional leaders rely on every day.
1. Effective Communication
2. Courage
3. Adherence to the Golden Rule +1
4. Self-Awareness
5. Passion
6. Humility
7. Generosity
8. Infectiousness
9. Authenticity
10. Approachability
11. Accountability
12. A Sense Of Purpose
Read the article and give them a try and see where they take your leadership skills.
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We Asked Our Fans To Caption Awkward Real Estate Pics. They Did NOT Disappoint.
LIGHTER SIDE OF REAL ESTATE
1. "This home will bridge the gap between mediocrity and awesomeness! (Low deductible auto insurance recommended!!)"
Caption by: Janine Sasso
6. "And here we have the "formal" game room."
Click on READ THE ARTICLE below
to see all the pictures and funny captions
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BUZZ BUZZ Canada
By Kelsey Pudloski
17 spectacular skylights that will help you beat the winter blues
Bring on the vitamin D!
See more of these amazing skylights by clicking on the link below...
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BUZZ BUZZ Canada
This sous-vide cooking gadget is a mealtime game-changer
Learn about this amazing invention by clicking on the link below
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BUZZ BUZZ Canada
Reduce your plastic waste with this smart biodegradable water filter
Learn about this awesome filter by clicking on the link below
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Even though there isn't much snow on the ground right now, it sure feels like the holiday season is upon us. It is wonderful to see all the festive light displays and decorated homes as everyone prepares for the holiday celebrations ahead.
Another year is quickly coming to a close and when I reflect back on 2017, I smile remembering all the new people we have met and clients we have helped to sell a home or find a new one.
It is rewarding to help so many meet their real estate objectives, especially when faced with obstacles that require problem solving and persistence to pull or keep a deal together. I am grateful for each client that has put their trust in the McKelvie Group to get the job done this year.
Each day I feel fortunate for the team I work with. They strive to offer the best in customer service and continually improve - and that effort pays off! I feel great pride when I read through the reviews our clients provide - nearly all mention the high quality of service
they received
. I am so appreciative of our hard working and capable team and look forward to another year working alongside them.
I am optimistic as I look ahead to 2018 as many key indicators point to a steadily improving economy. There will likely be bumps along the way, but one thing I know is that Calgarians are resilient, dynamic people, who thrive in the face of challenge.
This holiday season, we wish all of you a very merry Christmas and a happy and healthy
N
ew
Y
ear! May your family feel the love, peace and joy that come with the spirit of Christmas.
Best regards,
Kelly and Team
Kelly McKelvie
403-247-9988
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CREB
November Marks a rise in sales
Nov. 2017 City of Calgary, December 1, 2017 - The November housing market was spurred by a rise in sales, particularly in the lower price ranges. Sales totaled 1,411 units in November, an increase of 15 per cent over last year. This is comparable to longer-term averages for the month of November. Improved sales activity occurred in each of the housing segments, with most of the gains occurring in homes priced under $500,000. "The combination of improved confidence and pending mortgage rule changes have likely contributed to the stronger sales activity this month," said CREB® chief economist Ann-Marie Lurie. According to Lurie, the last time that sales activity rose to long-term averages for the month was October 2016, when the stress test for high-ratio loans was first announced. "Moving forward, we will continue to monitor shifts in demand as improving economic conditions should help offset the impact to the housing market after the new lending policy comes into force in January," said Lurie. The largest gains in the detached sector were in the $300,000 - $399,999 price range, while the apartment and attached sectors saw the largest gains among homes priced below $300,000. "We have seen some improvements in confidence with many of our clients. There are some concerns regarding the changes in the lending market, but there is also a significant amount of confusion regarding how it will affect them," said CREB® president David P. Brown. "For a lot of buyers, they are interested in taking advantage of the choice in the market at all price ranges." The rise in sales relative to new listings improved this month, helping ease inventory levels over the previous month and keeping the months of supply relatively stable. However, the amount of supply relative to the sales in the market remains elevated. This continues to weigh on prices. Citywide benchmark prices totaled $436,700, 0.50 per cent below last month, but 0.46 per cent above last year's levels. Both median and average prices recorded a more significant decline compared to last year. This should not come as a surprise, as more sales in the lower price range this year compared to last November would cause a more pronounced drop in average and median prices.
HOUSING MARKET FACTS
* Year-to-date detached sales have totaled 11,220 units, 5.5 per cent above last year's levels. Detached sales have improved across all districts in the city, except for the North East. However, higher supply levels have been impacting the price recovery in the detached market. Year-to-date benchmark prices remain slightly above last year, but remain over three per cent below recent highs.
* Rising condominium apartment sales have not been able to offset the continued rise in new listings, which are contributing to the persistent oversupply in this market. As a result, prices continue to ease. As of November, citywide apartment prices totaled $258,300. This is a 1.3 per cent decline from last month, nearly four per cent lower than last year and nearly 14 per cent lower than monthly highs recorded in 2014.
* Within the attached market, the semi-detached sector has outperformed the row market in terms of price appreciation. However, in both cases, prices remain 3.3 and 7.9 per cent below recent highs
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Calgary Herald 
Housing trends in Canada - How does Alberta stack up?
Statistics Canada released data this week about housing trends across the country drawn from the 2016 census. Here is how Alberta stacks up:
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Calgary Sun
By Myke Thomas
More Calgarians own homes than national average
Statistics Canada has released a report called Housing in Canada: Key Results from the 2016 Census that is jam-packed full of every housing statistic you could hope to know. Here are just a few.
More than 9.5 million of the 14.1 million households in Canada owned their homes in 2016, representing a homeownership rate of 67.8 percent. In 2006, the rate was 68.4 percent and in 2011, it was 69 percent. In contrast, over the period 1991 to 2006, the homeownership rate rose from 62.6 percent to 68.4 percent.
Calgary, Canada's fastest growing census metropolitan area (CMA) between 2011 and 2016, had a homeownership rate of 73 percent, fourth highest in the country and well above the national average. Edmonton's homeownership rate was 69.6 percent, while in Toronto, the rate was 66.5 percent. Vancouver was 63.7 percent. Montreal (55.7 percent) and Sherbrooke (56.3 percent) had the lowest homeownership rates among CMAs in Canada. Oshawa (77.8 percent) and Barrie (76.1 percent) stood out as CMAs with homeownership rates well above the national average. Homeownership was also much higher outside of CMAs and census agglomeration areas, at 77.7 percent.
The sustained growth in homeownership prior to 2006 was related, in large part, to baby boomers, the demographically significant generation born from 1946 to 1965, entering homeownership. By 2016, most baby boomers were already homeowners and no longer driving an increase. Future trends will be affected by how long baby boomers remain homeowners and whether younger generations own or rent a home.
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HUFFINGTON POST
Homes You Can Buy In Canada For $500,000 Today
It's not as much money as it used to be.
It used to be that half a million dollars was a lot of money. Today, it's just what you need to afford an average home in Canada.
The nationwide average resale price was $487,000 in October, according to the Canadian Real Estate Association. Broken down into monthly payments, that average house will cost you more than $1,900 a month, assuming 20 per cent down, a 25-year mortgage and a rate of 3.4 per cent.
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HUFFINGTON POST
Cheney Island In New Brunswick Is On Sale For Less Than A Toronto Bungalow
It's been on the market for a few years now.
FREDERICTON - It sounds like a spectacular buy: A 100-hectare island with two houses and several private beaches on the scenic Bay of Fundy, all for less than the price of a Toronto or Vancouver bungalow.
But the Quebec family that owns Cheney Island has had no luck selling it, and has dropped the price to $850,000, down from $920,000, after a couple years on the market.
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HUFFINGTON POST
Canada's Priciest Neighbourhoods...
Some of Toronto's suburbs are now more expensive than New York's.
It costs $1,210 to buy a single square foot of living space on the west side of Vancouver, far and away Canada's priciest neighbourhood for residential real estate, according to a new survey from Century 21.
In fact, seven of the 10 priciest neighbourhoods in Canada are located in Greater Vancouver, and an eighth - White Rock - is just south of the city.
READ THE ARTICLE
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BuzzBuzzNews
These 6 predictions about the 2017 Canadian housing market were way off base
Few could have predicted the roller coaster that was the Canadian housing market in 2017.
Following a red hot first quarter with record home prices in Toronto and the GTA, the introduction of Ontario's Fair Housing Plan in April saw sales and prices plummet over the summer. Now, as we head into 2018, the market seems to be balancing out. But how does all of this compare to what economists were predicting at this time last year?
Here are 6 predictions for 2017 that ended up falling seriously short. Click on the link to the article to read the predictions and outcomes.
1. The prediction: The Bank of Canada will cut interest rates by 0.25 per cent
2. The prediction: The average sale price of a Canadian home will fall to $475,900
3. The prediction: Vancouver's housing market will continue to cool
4. The prediction: Canadian home sales will fall by 11.5 per cent
5. The prediction: The aggregate price of a Canadian home will rise 2.8 per cent annually
6. The prediction: The economy will grow by 2.5 per cent
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The team at the McKelvie Group is comprised of a group of professionals who provide you with the support, follow-through and assistance you deserve when it comes to your important investment.
Each team member is well trained and an expert in his/her respective field. You can expect exceptional professionalism when working with the McKelvie Group.
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CREB Now
SUNSET RIDGE -
ON TOP OF THE WORLD
Standout Cochrane community boasts stunning scenery and abundant amenities
Distinctive architecture sets the tone for Melcor Development's master-planned community of Sunset Ridge in the picturesque town of Cochrane. Inspired by arts-and-crafts and craftsman design elements, homes feature deep and rich natural colour palettes, varied roof pitches and decorative elements like gables, brackets, blocks and false trusses. Old-world charm abounds, with large porches and usable, covered landings.
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CREB Now
CHESTERMERE - C
ITY ON THE RISE
Chestermere maintains its charm amidst rapid growth and development
"WE LOVE THE WHOLE VIBE OF CHESTERMERE. IT'S A CITY NOW, BUT IT STILL FEELS LIKE A SMALL TOWN. IT'S A COMMUNITY THAT PITCHES IN AND HELPS OUT ITS NEIGHBOURS." - TONI LYNNE COUSINEAU, CHESTERMERE RESIDENT
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Evaluation Request Thinking of Buying Client Testimonials
Click on the images above to go to valuable links on our website.
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BuzzBuzz NEWS
15 incredibly warm and cozy spaces you'll want to curl up in
Look at all the cozy spaces by clicking on the link below...
19 converted barns and barn-style homes that'll make you want to ditch the city for the country
To see all the converted barns, click on the link below...
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Sincerely,
