Real.BirchHills

Mortgage Payments: Your Payment Frequency Options

Fri, 09 Aug 2013 13:56:48 -0400

Here is some great information, especially for First Time Home Buyers, regarding your mortgage payment options.

When it comes to deciding how often you’d like to make your regular mortgage payments, you can choose which mortgage payment frequency option will best benefit you. You have the option to synchronize your mortgage payments with your pay schedule. In Canada, you can choose from five different mortgage payment options: monthly, bi-weekly, accelerated bi-weekly, or accelerated weekly. Since most employees get paid bi-weekly, this schedule option is the most popular.

Some payment frequencies actually accelerate your mortgage repayment allowing you to reduce the total amount of interest you pay over the life of your mortgage. Choosing an accelerated payment also gets you out of mortgage debt years sooner.

What Are Your Options?

Monthly Mortgage Payment
A monthly mortgage payment is when your mortgage payment is withdrawn from your bank account on the same day of every month (i.e. on the 1st). With a monthly mortgage payment, you make 12 payments per year.

Bi-weekly Mortgage Payment
A bi-weekly mortgage payment is when your monthly mortgage payment is multiplied by 12 months and divided by the 26 pay periods in a year. With a bi-weekly mortgage payment, you make 26 payments per year.

Accelerated Bi-weekly Mortgage Payment
An accelerated bi-weekly mortgage payment is when your monthly mortgage payment is divided by two and the amount is withdrawn from your bank account every two weeks. With an accelerated bi-weekly mortgage payment, you still make 26 payments per year but the payment amount is slightly more than a regular bi-weekly mortgage payment.

Weekly Mortgage Payment
A weekly mortgage payment is when your monthly mortgage payment is multiplied by 12 months and divided by the 52 weeks in a year. With a weekly mortgage payment, you make 52 payments per year.

Accelerated Weekly Mortgage Payment
An accelerated weekly mortgage payment is when your monthly mortgage payment is divided by four and the amount is withdrawn from your bank account every week. With an accelerated weekly mortgage payment, you still make 52 payments per year but the payment amount is slightly more than a regular weekly mortgage payment.

The Benefit of Accelerated Payments

The one major difference between regular and accelerated payments is how the payment is calculated. With an accelerated payment option, you end up making roughly one extra payment a year. It’ll cost you a little more on a monthly basis, but will save you thousands in interest and help you pay off your mortgage even sooner.

Purchase Plus Improvements

Wed, 17 Jul 2013 15:08:00 -0400

Are you having problems finding the right home? Maybe you have found a great home but the kitchen was outdated. You can stop overlooking these properties. There are mortgage programs available that can help you move into a home with a new kitchen or beautiful hardwood flooring.

Both CMHC and Genworth Insurance offer a program called “Purchase Plus Improvements” which allows you to purchase a home, renovate it and incorporate the cost of the renovation into your new mortgage - for as little as 5% down payment based on the improved value of the home.

These improvements must be permanent to the home or property. For example, new windows, roofing, a new garage, bathroom renovations and kitchen renovations would all apply. A new washing machine or refrigerator would not because it is not a permanent part of the home. Although, a built in range or dishwasher would be eligible because they are permanently attached to the home.

How it Works

Let’s say you were to purchase a home for $200,000 and wanted to do $30,000 worth of improvements, CMHC/GE will insure a mortgage based on 95% of the “improved value”. In this example, your down payment would be 5% of $230,000, or $11,500. This can only be approved if the renovations you make add value to the home. For this example, the insurer and lender would have to agree that the renovations increase the value of the home by $30,000.

When making an offer on a house, make the offer conditional for a longer than normal conditional period, if possible. Borrowers must provide a quote from a contractor, before closing on the house, which is then submitted by your Mortgage Associate, to both the mortgage lender and CMHC/Genworth for approval.

On closing day, the lender will submit the total mortgage amount to your lawyer. The improvement amount is held by the lawyer until the renovations are 100% completed and the added value of the home is confirmed by an appraiser. Since the funds will not be released to you until the work is complete, it’s recommended to apply for an unsecured line of credit so the initial costs can be paid and work can begin. You also may be able to find a contractor who is willing to be paid for the work upon completion.

The advantages of utilizing the Purchase Plus Improvement Programs are that the cost of the renovations are incorporated in a low interest mortgage.

If you are in the market to buy a home, I can refer you to a great mortgage company. Call me today at (306) 370-2629 or email me at kent.braaten@century21.ca.

www.kentbraaten.com

209 Taylor Avenue Birch Hills SK $129,900 MLS

Thu, 20 Jun 2013 13:23:10 -0400

Great starter home in Birch Hills with lots of upgrades including windows, siding and flooring.

209 Taylor AV
Birch Hills, SK S0J 0G0
$129,900
http://www.209tayloravbirchhills.com

MLS® ID:466222

Bedrooms: 2
Bathrooms: 2(Full: 2)
Parking/Garage: 1 Stalls
Sq. Feet: 864
Year Built: 1957
Style: Bungalow
Lot Size: 117
Rooms

BATH3 - 1st Floor - 3.11x7.8
BATH4 - 1st Floor - 5x13.6
BEDRM - 1st Floor - 7.3x11.3
BEDRM - 1st Floor - 10.3x11.4
KITCH - 1st Floor - 11.8x13.4
LAUND - 1st Floor - 7.6x7.11
LVGRM - 1st Floor - 11.7x21.6

Features

Basement

Full

Other

Outdoor

Garden Area

Other Features

Sump Pump

Water Heater

Included

Other

60.50

Water Softener

Not Included

Water Heating Type

Lot Site

Rectangular

Garages

Detached Garage

Other Features

Dishwasher

Other

Roof

Asphalt Shingles

Parking

Single Drive

Outdoor

Trees/Shrubs
Lawn Back
Lawn Front

Heating

Exterior

Siding

Included Equipment

Dryer
Washer
Range
Refrigerator

Basement Development

Concrete

Kent Braaten
REALTOR®
CENTURY 21 Fusion

210-310 Wellman Lane

Saskatoon, SK S7T 0J1

Office: 306-653-8222
Cell: 306-370-2629
kent.braaten@century21.ca
www.Century21.ca/kent.braaten

Bliss Acreage Birch Hills, SK S0J 0G0 $369,900 MLS#464336

Mon, 17 Jun 2013 11:23:15 -0400

Great opportunity on the edge of Birch Hills. Located on the north access road.

Bliss Acreage
Birch Hills, SK S0J 0G0
$369,900
http://www.century21.ca/kent.braaten/Property/100873512

MLS® ID:464336

Bedrooms: 4
Bathrooms: 3(Full: 3)
Parking/Garage: 1 Stalls
Sq. Feet: 1,775
Year Built: 2006
Style: 2-Storey
Rooms

BATH3 - 1st Floor - 5x8
BATH4 - 1st Floor - 8x5
BEDRM - 1st Floor - 10x11
BEDRM - 1st Floor - 15x11
BEDRM - 1st Floor - 9.3x12.4
DINRM - 1st Floor - 9x11
FAMRM - 1st Floor - 22x12.6
KITCH - 1st Floor - 15.6x14
LAUND - 1st Floor - 10x5.1
LVGRM - 1st Floor - 19x14
NOOK - 1st Floor - 7x11.5
BATH3 - Basement - 7.5x6.10
BEDRM - Basement - 11.4x11
FAMRM - Basement - 17x15.8
UNFIN - Basement - 11.4x7

Features

Other

Garages

Attached Garage

Water Heating Type

Roof

Asphalt Shingles

Outdoor

Trees/Shrubs
Lawn Back
Lawn Front

Heating

Exterior

Siding

Basement Development

Concrete

Fireplace Type

Outdoor

Deck

Basement

Slab

Kent Braaten
REALTOR®
CENTURY 21 Fusion

210-310 Wellman Lane

Saskatoon, SK S7T 0J1

Office: 306-653-8222
Cell: 306-370-2629
kent.braaten@century21.ca
www.Century21.ca/kent.braaten

Birch Hills Heartbeat June 15, 2013

Mon, 17 Jun 2013 10:50:36 -0400

Birch Hills Heartbeat June 15, 2013:

http://www.birchhillsrealestate.com/siteimages/bh-newsletter-june15.pdf

Make sure to check out these events this summer in and around Birch Hills! Congratulations to all the Grads this year!

Birch Hills Heartbeat - June 1st, 2013 Issue 48

Mon, 03 Jun 2013 13:39:15 -0400

Birch Hills Heartbeat - June 1st, 2013 Issue 48:

http://www.birchhillsrealestate.com/siteimages/bh-newsletter-june1.pdf

I hope everyone had a great weekend at the annual garage sale! Make sure to download your own copy of Birch Hill’s Heartbeat for June! Lots of Fundraisers and Events to take part in.

Open House Today 9AM-12PM Capstone Place Birch Hills, SK

Sat, 01 Jun 2013 10:16:29 -0400

Open House Today 9AM-12PM Capstone Place Birch Hills, SK

Come check out the suites available at Capstone Place, 220 McCallum Ave, Birch Hills SK. These suites are Ready to Move In! All Appliances are Included! Available Suites: #202, #205, #301, #402.

220 McCallum AV 202
Birch Hills, SK S0J 0G0
$164,900
http://www.century21.ca/kent.braaten/Property/100833169 MLS® ID:450722

Bedrooms: 1
Bathrooms: 2(Full: 2)
Sq. Feet: 748
Year Built: 2010
Style: Apartment
Lot Size: Condo
Rooms

BATH2 - 1st Floor - 5x6
BATH4 - 1st Floor - 5x8
BEDRM - 1st Floor - 12.8x11.11
DINRM - 1st Floor - 8.2x8.6
KITCH - 1st Floor - 13.6x8.6
LAUND - 1st Floor - 5x8
LVGRM - 1st Floor - 16.8x10.8

Features

Outdoor

Balcony(s)

Other

Capstone Place
RES

Heating

Hot Water

Garages

Underground Parking

Other Features

Dishwasher

Included Equipment

Air Conditioning

Other

Condo

Roof

Asphalt Shingles

Exterior

Siding

Included Equipment

Dryer
Washer
Range
Refrigerator

Basement Development

Concrete

Basement

Slab

Kent Braaten
REALTOR®
CENTURY 21 Fusion

210-310 Wellman Lane

Saskatoon, SK S7T 0J1

Office: 306-653-8222
Cell: 306-370-2629
kent.braaten@century21.ca
www.Century21.ca/kent.braaten

Eliminating the Home Selling (and Buying) Jitters!

Fri, 24 May 2013 13:23:01 -0400

Selling your property and buying a new home can be a potentially intimidating experience… so much that these jitters may even prevent some people from making a move!

It doesn’t have to be that way.

A big part of the stress of selling and buying comes from not understanding the process, or having unanswered questions. You might worry about how the market will affect the value of your purchase over the long term, or what you would do if you found your dream home before receiving any offers on your current property.

That is where a good REALTOR® comes in. I can explain the process thoroughly to you, answer all your questions, and show you how to make your move smoothly.

If you are looking to sell your home, or are looking at buying a home for the first time, please contact me today at (306) 370-2629.

kent.braaten@century21.ca

www.kentbraaten.com

Great Starter Home in Birch Hills - $169,900 MLS

Tue, 07 May 2013 12:06:56 -0400

Great Starter Home in Birch Hills

This 1040 sq.ft. bungalow in Birch Hills includes 4 bedrooms, 2 bathrooms, a full basement and single detached garage.

21 Birch DR
Birch Hills, SK S0J 0G0
$169,900
http://www.century21.ca/kent.braaten/Property/100866501

MLS® ID:461390

Bedrooms: 4
Bathrooms: 2(Full: 2)
Sq. Feet: 1,040
Year Built: 1975
Style: Bungalow
Lot Size: 120
Rooms

BATH2 - 1st Floor - 7x5
BATH4 - 1st Floor - 5x8
BEDRM - 1st Floor - 10x8.7
BEDRM - 1st Floor - 11x10
BEDRM - 1st Floor - 9x9
DINRM - 1st Floor - 8.5x10
KITCH - 1st Floor - 10x12
LVGRM - 1st Floor - 16.4x13
BEDRM - Basement - 11x13
FAMRM - Basement - 24x12

Features

Basement

Full

Other

Water Heater

Included

Parking

Double Drive

Other

50.00

Water Softener

Not Included

Other Features

Range Hood Fan

Water Heating Type

Lot Site

Rectangular

Garages

Detached Garage

Other

Roof

Asphalt Shingles

Outdoor

Lawn Back
Lawn Front
Patio(s)

Heating

Exterior

Siding

Included Equipment

Dryer
Washer
Range
Drapes
Refrigerator

Basement Development

Concrete

Kent Braaten
REALTOR®
CENTURY 21 Fusion

210-310 Wellman Lane

Saskatoon, SK S7T 0J1

Office: 306-653-8222
Cell: 306-370-2629
kent.braaten@century21.ca
www.Century21.ca/kent.braaten

Birch Hills Heartbeat Newsletter - May 1st Issue

Wed, 01 May 2013 12:35:11 -0400

Plenty to do in the month of May including a Movie Night featuring “Life of Pi”, Mother’s Day Brunch, Free Child Car Seat Inspection, and more.

Check out the Birch Hills Heartbeat for more updates and events.

Birch Hills Heartbeat Newsletter - March 15, 2013

Fri, 15 Mar 2013 17:47:30 -0400

Birch Hills Heartbeat Newsletter - March 15, 2013:

Birch Hills Heartbeat Newsletter - March 15, 2013
Check out the many events in and around Birch Hills, Sask.

Birch Hills Heartbeat Newsletter - March 1, 2013

Fri, 01 Mar 2013 13:47:52 -0500

For current news, events, and more check out the Birch Hills Heartbeat Newsletter - March 1, 2013

Thank you to all who participated and helped to organize events for the winter festival. Overall it was a great success! There will be a complete review of the weeks activities in the March 15th issue of the Heartbeat.

Birch Hills - Heartbeat Newsletter: February 15th, 2013

Fri, 15 Feb 2013 14:29:12 -0500

Birch Hills - Heartbeat Newsletter: February 15th, 2013:

For News, Events, and More, check out Birch Hills Heartbeat Newsletter for February 15th, 2013.

Take a Tour of Birch Hills, Saskatchewan. Small town lifestyle...

Fri, 08 Feb 2013 11:48:58 -0500

Take a Tour of Birch Hills, Saskatchewan. Small town lifestyle with the big city close by. See what Birch Hills has to offer. (by Kent Braaten)

Birch Hills - Heartbeat Newsletter : February 1st, 2013

Fri, 01 Feb 2013 15:25:00 -0500

It’s almost here, the 2nd Annual “Brrr Chills” Winter Festival. So many people have put in many hours and planning to put on another great 9 days of winter fun, at your back door.
There are plenty of events and activities for the whole family. Make sure you mark your calendars with all that you want to participate
in. You won’t want to miss out!

Check out the latest Birch Hills Heartbeat Newsletter here:

http://www.birchhillsrealestate.com/siteimages/bh-newsletter-feb1.pdf

Watch Virtual Tours on Facebook

Thu, 31 Jan 2013 15:30:10 -0500

Watch Virtual Tours on Facebook:

Check out these virtual tours of properties for sale in Saskatoon, Wakaw, and Birch Hills.

Birch Hills - Heartbeat Newsletter : January 15th, 2013

Tue, 15 Jan 2013 14:33:30 -0500

Birch Hills - Heartbeat Newsletter : January 15th, 2013

Birch Hills bi-weekly update: Follow the link above to see what’s happening in Birch Hills, SK.

14 Important Facts to Consider before Selling Your Own Home

Fri, 11 Jan 2013 16:14:24 -0500

Occasionally, one can see “For Sale By Owner” signs, and some owners think that selling their own home will not only save them money, but believe they have an advantage over the sellers that have their home listed by a reputable Realtor©. Before you decide to take on this very important and legally complicated process…remember not even most Real Estate Lawyer’s recommend selling your own home yourself in today’s market. Here are a few of the reasons why:

1. You are limiting your exposure to potential buyers (less than 10% of what a good real estate broker will generate) which theoretically means your home will take ten to fifteen times longer to sell on the market.

2. The longer a home is on the market the lower the selling price is. Why? Because most buyers think that if the home has not sold after this long… there must be something wrong with the home.

3. The selling/buying process begins AFTER the buyer leaves your home. Most sellers think that all it takes is for someone to see their home, fall in love with the great decor… and the offer automatically will follow. Remember that the buying process begins after they leave your home. If a real estate sales representative does not represent the buyer, and they are looking on their own…they usually leave the home and start to talk themselves out of the buying process. If the buyer is represented by a real estate professional Realtors© are trained on how to overcome buyers remorse—a very common occurrence.

4. Because of the limited exposure you will very likely end up with a lower selling price. Remember, in order to generate the highest price possible for your home… selling means exposure. You need the maximum exposure possible, to generate the highest price possible.

5. Most buyers find it extremely awkward to negotiate or even to talk directly with sellers and therefore avoid FSBO properties.

6. Lack of negotiating experience and lack of pertinent information often will result in a lower selling price, or worse yet, a bungled contract and possible lawsuits.

7. The majority of qualified buyers are working with experienced real estate professionals.

8. Many serious buyers will pass by a FSBO home merely because they recognize that it is not in the real estate mainstream, this can some times make them wary.

9. As most local buyers now retain an experienced real estate sales person to represent them as their buyer-agency, you will probably be negotiating against an experienced professional.

10. Expected savings in broker’s fees will also be greatly reduced if you offer a selling commission to entice real estate sales representatives to bring potential buyers.

11. If you are planning to use a Lawyer to help you negotiate the offer, then your lawyer’s fees will be considerably higher.

12. Only real estate sales representatives have access to the up-to-date market information. News reports cannot approach the timeliness or specificity available to real estate sales people. Further, real estate sales representatives are involved in home sales much more frequently than the average homeowner is. This familiarity leads to a degree of expertise that provides an edge on negotiating and successful selling.

13. You only pay the commission to the real estate broker, if they successfully sell your home at the price you are happy with.

14. Accepting an offer is one thing, ensuring a safe and successful closing is quite another. Real estate transactions usually always have problems on closing. At times, expecting the Buyers and Sellers Lawyer’s to fight it out or resolve the problems, can sometimes mean the deal is lost. This is the time that your experienced real estate professional, can be the most important. Your Realtor© can act as a great mediator. Lawyers MUST act only on their client’s instructions and are not paid to negotiate.