Sheri  Smith

Sheri Smith

Sales Representative

iPro Realty Ltd., Brokerage

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Sheri Smith's blog

Orangeville Farmers Market

I've enjoyed visiting the Orangeville Farmers Market on Saturdays for most of the summer. Very excited to see the market moving inside on November 4th. The Orangeville Farmers Market will be located inside townhall from 9:00 - 1 on Saturdays. Orangeville's Townhall is located on the north east corner of Second Street and Broadway. The indoor market features vendors who offer locally-raised meats, baked goods, unique arts and crafts, and local seasonal produce. I'm sure you'll be able to find a Christmast present or two.

The Canada Press has just released a statement: Ontario to place 15 per cent tax on foreign buyers to cool GTA housing market:

This is a direct quote from the (REP) Real Estate Professional -

"The Canadian Press has learned that the Ontario government will place a 15-per-cent tax on non-resident foreign buyers as part of a much-anticipated package of housing measures to be unveiled today.

The measures are aimed at cooling down a red-hot real estate market in the Greater Toronto Area, where the average price of detached houses rose to $1.21 million last month, up 33.4 per cent from a year ago.

Statistical Information for Orangeville and Shelburne Real Estate Market

As you all are well aware, prices in Orangeville and Shelburne are way up. Shelburne is fast becoming the place to find more affordable housing. For how long, who knows. Below are statistics from The Toronto Real Estate Board in regards to prices today over prices in 2014.

2014 – average sold price Orangeville $363,773.00                         Shelburne  $282,731.00

2015 – average sold price Orangeville $393,897.00 (up 7.6%)       Shelburne  $324,408.00  (up 12%)

Sale of Your Principal Residence

And the Government does it again....we now must report the sale of our primary residence!

Get Rid of Your Mortgage Quicker #5

Last But Not Least - Educate Yourself

Dont forget about your mortgage once you start making payments. It's easy to do because your mortgage payment is an automatic withdrawal and you just stop thinking about it. You need to stay informed, even when not thinking about moving. By staying up to date with the current interest rates and mortgage options, you could potentially save yourself thousands of dollars.

Pay Off Your Mortgage Faster #4

4. On Your Anniversary (Mortgage Anniversary), make a lump sum payment

Depending on your financial institution, most lenders will let you make an extra mortgage payment once a year. This payment gets applied directly to the principal. Even $50.00 a year will make a difference in how long you have a mortgage. This is a great way to decrease your amortization period.

Pay Down Your Mortgage #3

#3. Put extra money towards your mortgage payments. Lets say you get an income tax refund, bonus at work, x-mas or birthday money. Instead of using the money to purchase something, if you don't have any other debts to pay off, put the money on your mortgage. You won't feel the impact on your budge because the money was un-expected. If you make an RRSP contribution every year, try increasing your contribution and when you get your tax refund, put the extra towards your mortgage. 

Pay off Your Mortgage Quicker #2

. Round up your mortgage payments

The Second Way to Pay Your Mortgage off Quicker is by Rounding Up Your Mortgage Payments:

5 Ways to Pay Your Mortgage Off Faster #1

My next 5 blogs will show you how you can pay your mortgage off quicker.

# 1. Accelerated Bi-Weekly Payments

What this means is: instead of paying your mortgage on a monthly basis, 12 times a year, you pay your mortgage every 2 weeks. This gives you a total of 26 payments a year. 

Heres an example how this can help you pay off your mortgage faster.

What CMHC increase Looks Like

CMHC’s standard mortgage loan insurance premiums will be changing as follows:

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