Joel Nash's Blog

Posted by Joel Nash

The Nicholas St. Gaol in Ottawa, Ontario Canada and it was otherwise known as the Carleton County Gaol. The building was constructed in the 1862 and was via tunnel to the Arts Courthouse. At times 150 men, women and children crammed into the 60 cells as they were held as prisoners within the structure.

The crimes committed varied greatly amongst the prisoner population from misdemeanors to murder. Prisoners were never allowed to see daylight. If the prisoner was sent to solitary confinement they where kept chained to the wall. The only time they were permitted out of their cells was to eat.

During the prison basement was used to quarantine immigrants who where thought to have scarlet fever. In addition to the deaths of immigrants, prisoners there were also three official hangings at the Gaol. The dead were buried in unmarked graves.

The jail finally closed its doors in 1972 and was reopened in 1973 as a youth hostel. It continues in this capacity to this very day. Hostel staff as well as guests report eerie occurrences throughout the hostel.

With all the atrocities it is not a surprise that this location is considered one of the most haunted locations in North America. Apparitions such as Patrick James Whelan, was hung February 11, 1869 and may have been wrongly accused of the murder of Thomas D’Arcy Mcgee. His body was buried in an unmarked grave on the premises.

So if you’re looking for a vacation destination that can produce thrills and chills in a unique environment call 613-235-2595 to book your room.

Posted by Joel Nash

Weird and unusual clientele are all a part of the Real Estate business. Dealing with them can be an art unto itself, as we have to navigate the murky waters of the awkward telephone conversation is part of the daily grind.

Most calls are typical House buying questions such as; what is the price of that house on Any Street? What is your fee for a house listing? Can you show me your listing? The questions are often repeated to the point of being monotonous.

In most instances these oddball calls inject a mild dose of humor into our daily routine. However this comedic relief can quickly turn offensive. A good example of the offensiveness that I have referred to here is a called fielded by a female agent in our office.

While taking calls the agent accepted a call from a gentleman asking about homes in the area. His only criterion was that the homes needed a large bedroom so he could work. This was a little odd but she continued her qualifying questions. “How many bedrooms are important? One big room is all I need.” “What features are important to you in a home? I just need a large bedroom for work.”

This line of questioning went on for a while and then the questions actually turned to what the gentleman did for a living. His response was, “I want to be a porn star that is why I need a large bedroom.” This is the point in the conversation when the agent hung up the phone.

The call may have been legitimate but it was more likely a prank. The call became a humorous tale but it had crossed the line into the realm of offensiveness.

Posted by Joel Nash

One of the most difficult things a landlord ever deals with is the eviction of a tenant. Regardless of how cold hearted or callus the landlord may seem about the issue of eviction, it is a very difficult decision to make. The overall need to maintain the revenue stream and the protection of their investment of the property versus the displacement of the tenants living there.

Often however the decision to evict is most often mediated by the tenant’s actions. Excessive noise, property damage, failure to pay the rent are just a few of the reasons that a landlord may choose to terminate a tenancy relationship. Eviction is used as a last resort by the landlord to safeguard their investment and income in a rental property.

Landlords often seek other alternatives to prevent eviction, as it can be costly. Once the eviction process has begun the tenant has little invested in the upkeep of the property. Therefore there tends to be a greater potential for property damage and disruption to the other tenants in the complex. If the tenant refuses to leave then there is the costly process navigating the legal channels available to you as a landlord.

The best way to protect against eviction and problem tenants is to do your homework. Make sure that you check new tenants credit and rental histories thoroughly. Also use your own judgment by interviewing the potential tenants. If you take precautions the need to evict tenants should be rare.

Posted by Joel Nash

There are a lot of instances in the day-to-day operation as a sales representative that are discouraging. Dealing with rejection and overcoming adversity is a daily staple for a Real Estate Sales Person. Each person that decides to pursue Real Estate as a career choice must be ready to deal with the highs and lows of the business.

Offers that are written don’t always get accepted. Offers that are accepted don’t always close. Clients are not always honest and upfront. It can be difficult to travel through the mire of agents, clients, lawyers, inspectors and sales people.

Staying positive in light of this adversity can be the most difficult part about being an agent. I find that personally by focusing on success is the best way to keep moving forward. There is occasionally days when my success was getting out of bed and getting to the office to get that deal killing paperwork signed but it is a success non-the-less.

Even with the slightest feeling of success in my day I find it easier to stay positive. The sunshines brighter, the sky is bluer and I just keep on smiling. I am confidant that I will have success each and everyday regardless of the grandeur of that success. You have success daily, you just have to open to recognize the successes of each day.

Posted by Joel Nash

Offer negotiation can be difficult and I tend not to be as focused on price as I am on the conditions in the offer. This was the case with the first offer on my Charles St. property. The price was fine the conditions left a lot to be done without enough time to do it.

When purchasing an investment property if you want vacant possession of the property you need to take the time constraints of the process into consideration. There are guidelines as to how much notice is required to legally vacate the property. In my case the minimum amount of notice required for tenant eviction is 60 days.

The tenant also has the right to contest the eviction, which can extend this period even longer as we wait for a hearing in front of the Rental Tribunal. Once there, that is no guarantee that they will rule in favour of the landlord. Essentially this could stall the sale of the home preventing the property from closing.

In the event you decide to buy an investment property with a condition ensuring vacant possession ensure that there is adequate time to fulfill the condition. Be ready to expect delays. Finally as you are made aware of issues be decisive about the direction you wish to go with the deal.

Posted by Joel Nash

The sale preparation for Charles has gone into full swing, and I am poised to take full advantage of the active fall Real Estate market. Now that the listing has been posted on the Multiple Listing Service (MLS) we are already seeing quite about of activity on the property.

There is always that initial flurry of activity to track down all of the pertinent tax data and details about the home. Measurements and photographs need to be taken to show the property at its best. Also the endless reams of paperwork need to be filled out.

Now that the initial offer price has been established, the pictures have been posted and the signage has gone on the lawn the real work of the sale begins in earnest. There is a substantial amount of juggling required to coordinate showings of the property.

The time for showings needs to be confirmed with the tenants, as well as with anyone wanting to view the property. This means that some showings are lost because of impatient buyers but there is no shortage of buyers looking for affordable income properties so I am not concerned but a few no shows.

So here I am trying to be patient as I ride out the early activity as I wait for an offer to arrive. I believe that everything should go smoothly as I move through the process, but really time will tell. I will continue to update as the process continues.

Posted by Joel Nash

The Complete Guide to Buying and Owning Recreational Property in Canada by Douglas Gray offers great information about the buying of vacation or recreational property in Canada. His attention to detail is superb and his focus on the Canadian Real Estate market is stellar.

Douglas Gray focuses much of his attention in this book towards the motivation of buyers. He goes to great lengths in an effort to describe the different types of recreational property buyers, as well as the potential properties, which vacation goers and their families can enjoy.

At times the book lead me to believe that only investors look to enjoy recreational properties, however when you consider the expense of purchasing a recreational property you certainly need to consider it as a substantial investment. Making your real estate decision from an investor’s perspective is prudent.

There is ample value in this book. It will expand on your knowledge of the various trends in the real estate market place. The book will open doors to your motivation, help you examine various property types, as well as assist in communicating the various professionals you will need to deal with in order to finalize the purchase of your recreational properties.

Whether you’re an investor, or just looking for a great vacation spot to enjoy then Douglas Gray’s The Complete Guide to Buying and Owning Recreational Property in Canada, can offer you the basic skills and knowledge to close the deal.

Posted by Joel Nash

I am happy to say that the siding and capping on my front porch are completed. The work is a substantial improvement over the original look of the house. I happily paid the Larry and would recommend him to friends.

The mountainous pile of garage debris is slowly diminishing. In fact I figure I have about two truckloads remaining before the last of it is cleared up. At times the removal has been like a treasure hunt, as I find generations of lost treasures.

My son prefers to collect the empty beer bottles so he can return them for the deposit money. This deconstruction and construction process has shown me that even at 7 he has potential be a productive and successful entrepreneur.

As for the to-do list it is almost completed. Paint the front porch, move the automatic door closer for the second flood apartment, paint the foyer and finish cleaning up the remains of the garage.

That will lead me to getting ready for the sale of the home. I am sticking to my time line and the tenants will receive written notice of the sale latter this week as the work continues to progress. Saturday is my work completion date and I currently don’t foresee a problem hitting my target.

I eagerly anticipate the sale of the home, even though I have thoroughly enjoyed seeing the rejuvenation of this historic property. Once the sale is completed there will not be much time for rest as I tackle my next project.

Posted by Joel Nash

Here I am again tackling what seems to be a long and arduous project that is my duplex. It has been in a state of constant renovation for over a year and the light has finally come into view as the end draws near. The reason for the new light at the end of this tunnel is that I have decided to sell the building.

As we speak I have a siding guy working diligently away at getting the back kitchen finished and making the final repairs to the front porch. Once he has completed that I will tack on the front foyer repairs and painting of the front deck. That will complete the overall project which has a long list of upgrades; which include new windows, roof, furnace, siding, carpeting, bathroom flooring, and the list goes on and on.

I remember buying this particular property and almost immediately thinking what have I done. The work was tremendous, and the tenants that I assumed were not particular happy with the state of the building. Yet because the tenants had exceptionally low rent nobody wanted to leave so I struggled to get the renovations completed with the irate tenants causing frequent problems and delays.

The final outcome is that the tenants are happy about the repairs that have been done. The neighbors love the fact that the worst looking house on the street is no longer the worst looking home. I am happy because I stand to make reasonable profit on the sale, and I looking forward to the work on my new project house moving forward in the near future.

Posted by Joel Nash

As a Real Estate salesperson there is a limit to the success you can achieve. Of course there is the ability to accumulate wealth through the day-to-day operations of a sales professional. However if you wish to grow beyond just being a salesperson then additional education and expense is required.

This is definitely not a road to travel lightly and the responsibilities and commitment to the process of becoming a professional Associate Broker. In Ontario Associate brokers are the only individuals permitted to have an active ownership interest in a Real Estate company. Sales representatives are required to work under a Broker.

So because I firmly believe in bettering myself, and increasing my knowledge of the Real Estate marketplace I have decided to follow through on the licensing requirements to become a professional Real Estate Broker. I am currently happy with the company I am working with at this time, but at some point in the future I want to be able to exercise an ownership interest in a Real Estate company.

So before the year is up I will have completed the required education and training required to become a Broker in Ontario and I look forward to be able to update you to my progress as I complete this journey.

Posted by Joel Nash

As the summer continues to heat up, I hear the nay Sayers shouting out that this season hot Real Estate market has passed them by and they need to wait. Well that is simply not reality. The time of year does not really affect the overall sale of any given home.

Seasonality is a myth, rather than a fact and it is driven by your specific market area. The spring market seems to be the time of year when business seems to be heightened for many sales representatives. The 1st quarter of the year tends to set the tone for the rest of the year. Therefore agents tend herd buyers aggressively from location to location at a more rapid pace.

The market organizes itself during this period of the year. Sellers will quickly realize were home prices will go, and buyers will quickly adapt to the level of aggression that is required to secure the home of their dreams. This activity has led to the belief in the spring being the best time of year to list a home for sale.

The reality is that a lot of buyers need to build up to the market so there is a constant flow of buyer activity regardless of the time year. If you wait to the summer and fall selling seasons then the market is set for the most part. It will be clear whether you have entered in to a sellers or buyers market. Price increases and comparable properties will materialize in the market place meaning that there should be less haggling later in the year.

Don’t be intimidated by the time of year, recognize each season for the benefits it has on the real estate market as a whole.

Posted by Joel Nash

In my hometown of Belleville, Ontario the preparations are in full swing to prepare for this holiday long weekend. Flags are flying and people are preparing for the festivities that often accompany Canada Day. This is our time to celebrate our countries unity, diversity and growth.

As a nation we continue to strive to improve our position on the world stage. Looking at new ways to show leadership both at home in Canada and on the World Stage. Our Peacekeeping troops representing us overseas will be remembered in our celebrations here in Canada.

As Canadian’s we have a lot to be thankful for, adequate affordable healthcare, accessible education for all Canadians, a diverse and accepting population, as well as so much else. Although at times we are divided we can still attest to the fact that we are Canadians regardless of age, race, religion or creed we are all equally Canadian.

I wish everyone a safe and fun weekend, as we embark on this holiday weekend.

Posted by Joel Nash

Temperatures are rising and so is the anxiety for many homeowners to sell and find a new home before the kids go back to school in the fall. Those of us with children understand the anxiety of having our children switch schools midyear or finding a way to transport them back and forth from an out of district school location for the remainder of the year.

So with this in mind those of you with family friendly homes that are considering a sale now is the last chance to realistically move forward and be in a new location prior to the start of the school year. This is because traditionally in most areas homes will take, between 1 week, and 30 days before they receive and accepted offer. In many of those cases the conditional periods will take another 7 to 14 days. Finally offers often close between 30 to 60 days after they have been accepted. In essence leaving you a very limited time to locate a home for yourself before the youngster’s head back to school.

Now after all that you have to face the reality that you now have a window of opportunity of less than 60 days to find yourself a home before the summer ends. Prepare yourself for a flurry of activity like touring to find the perfect home, get that offer accepted and then clear all of your conditions. Next play the waiting game of meeting with lawyers for the sale of your current and future residences. Scramble to get all of the kids registered for school. If you accomplish all of these daunting feats then you have probably run all the way through the summer heat.

Posted by Joel Nash

There have been so many individuals that have been touched by the horrors of Cancer that there are now limitless tales of survival and death. All of us seem to be touched in some way by this insidious disease whether through a friend, family member, or a co-worker everyone has known somebody that has had to coup with Cancer.

Cancer is now the leading cause of death in Canada, the number of incidents of Cancer will likely increase over the next 20 years by 60% because of the aging population if we don’t fight to keep this disease in check. It is definitely time to take notice and fight for a cure.

I am glad to be taking part in this great community based event to raise awareness as well as the much-needed funds to support the valuable research for a cure that is being done. This is a hope filled event to celebrate the advances of Cancer research and those that have survived Cancer. Teams will work together through this all night event.

To make a donation visit the Canadian Cancer Society, or in the United States at the American Cancer Society.

Posted by Joel Nash

Saturday June 9, 20071:00pmat the Belleville Public Library and John M. Parrot Art Gallery I will be giving a free Home Buyers seminar. So if anyone is in the Quinte area and is looking to expand their existing knowledge of the home buying process, feel free to join us.

This is an introductory seminar, but would be useful for both first time and seasoned home buyers. Information will be provided concerning such topics as, why flipping isn’t for everyone, home inspections, financing, closing costs, the importance of a Buyer Agent and the basics of the home search process.

We will also reveal the various roles of the Realtor, Home Inspector and Lawyers as they pertain to the home buying process. Explore the step by step process that leads you to home ownership. Demystify the mortgage process and how financial institution establishes your ability to repay your mortgage.

I sincerely look forward to hosting this afternoon event and look forward to your participation. Join me as I provide a current view of Real Estate, market trends and the process that makes up a home purchase.

This seminar will be followed by a participant directed question and answer period. Coffee will be provided. Join us for an informative and enjoyable afternoon on June 9, 20071:00pmat theBelleville Public Library and JohnM.ParrotArtGallery 3rd Floor Seminar Room. For more details you can contact me at buyingsellingahome@suite101.com.

Thank you for your continued support and appreciation, as I look forward to continuing to provide you with the answers to all of your Real Estate questions.

Posted by Joel Nash

I absolutely love this time of year. Everything from cutting the grass and working the flower beds, to de-cluttering the house, to adding to my expanding collection of antique trunks and tool boxes. The fragrances surround us in every way; however for many people with repertory issues this time of year becomes very trying. As a proponent of cleaner, more energy efficient homes a shift is definitely needed

Our awareness of global warming, and our personal environmental impact is becoming more and more apparent. Stories about drowning polar bears, receding polar ice caps, smog warnings and rising temperatures are becoming more and more a part of daily information litany.

Obviously living in a more congested urban center compounds the problem, but altering the choices we make can help. Ensuring that lights are turned off in your home and using public transportation are a great way to get started. A wide range of energy efficient products, such as light bulbs and timers exist to assist in reducing the energy consumption in your home. Energy efficient windows and doors seal out exterior drafts. Insulation in certain cases can dramatically reducing your annual heating costs.

For potential home-buyers and sellers alike this offers some attractive benefits. Reduced energy costs will appeal to skeptical buyers because of the lower cost for energy utilized per square foot of the home. Another benefit is that homeowners save money on their annual heating and utility bills. The final and often most overlooked benefit is that these benefits are transferable to the generations of buyers and sellers that have yet to be born.

It is our responsibility to make the changes now, and to reduce our impact on the environment around. Futures were children cannot enjoy the green grass and the outdoors because they cannot breathe the air, is no future at all.

Posted by Joel Nash

The Desert offers a mysterious backdrop that draws thousands of visitors every year. Warm weather, breathtaking scenary and wide open spaces have alot to offer potential buyers. These elements have drawn many celebrities to the dry desert vistas of California.

Desert Homes Today has compiled a list properties fthat are currently offered for sale that were formerly owned and occupied by celebrities. People like fitness guru Jack Lalanne, Dick Clark, Starlette Clodette Colbert, Red Skelton, Lily Tomlin, Lucille Ball & Desi Arnez are just few of the celebrity dwellings that are currently available.

So if you are interested in owning a piece of Hollywood history, then this is the spot to look.

Posted by Joel Nash

I feel like I can breath a sigh of relief finally. April 30, 2007 marked a turning point in my mortgage existence. After a month in which I jumped through more hoops than I thought where possible they finalized my new mortgage.

They asked for everything possible, excluding a urine sample and a rectal exam, so I am quite pleased to say that the process has come to a close. I look forward to not having to do this again for little while at least.

Summer is here and I am moving forward with the last of the exterior renovations at Charles street. The garage is in the process of being razed, and with the cooperation of the weather it should be finished in the next two weeks.

I am looking forward to residing the country kitchen, and refinishing the front porch this summer. The sunshine and warmth has reinvigorated my home renovation drive and I am enjoying a new found enthusiasm for my home.

Posted by Joel Nash

Finally there is some relief in site for me. The interior renovations on the duplex I purchased are finally coming to a close. The new tenant takes possession of the lower level on the 1st of May. I am now looking forward to moving forward with the final exterior renovations in the coming months, but at a much less frenetic pace.

Seeing the work of the last year starting to come to fruition is a great pleasure. The work that has gone into the project by myself, friends and the various professionals that have assisted in the process has been greatly appreciated.

As I look forward at the house I see a continued evolution of the project. It continues to evolve in my mind, as my pictures and dreams for its future continue to change. Home fashion as well as clothing is in a state of constant flux and change evolving with our ever changing tastes and desires.

Posted by Joel Nash

Its mortgage renewal time and here is where it all falls down for those ambitious individuals that struck out in the world of business ownership. This is because studious lenders acknowledge that a self-employeed individuals income is not static. It is subject to fluxtuations in the marketplace, nature and blatent acts of humanity.

Here is what you need to know if you are self-employeed;

1. Have at least 3 years of tax returns available for your lender.
2. It will make life sugnificantly easier if you have a substantial downpayment for your purchase.
3. Be prepared for the fees that lenders like to charge, such as appraisal fees, lending fees, and mortgage insurance fees.

Now if you are anything like me in current quest to renew my own mortgage, you will know what I am talking about. I have had the deadline extended twice for completion. Fortunately my former lender doesn't seem to have a problem taking money for my mortgage even though I am switching to a new lender in order to get a better rate. I had to pay for an all new appraisal on my home, that cost $100 more than it did just one year ago.

In fact the whole thing is supposed to be completed tomorrow, yet I recieved a call today asking if it would be alright if stuff was delay for maybe another week. So here is my final thought on being self-employed and getting a mortgage put together. Just actualize that it will happen, and forget about it. Completely go about your life like money is not an issue and you no longer care if you have any. I have started dreaming of sleeping in my car by a white sand beach. I am so at peace with my current financial situation.

Posted by Joel Nash

When deciding, to purchase a home it is important that you do as much due diligence as possible. Home inspections are invaluable in this regard. Knowing that the small price you pay for the inspection can save you thousands in the long run is very important.

Piece of mind and pocket book are often forgotten when you are competing with other offers and people will often remove all of there conditions meaning they are going in blind to the sale process. There is a way to have piece of mind and the home you want too.

Quite often when offers compete, they are presented at the same time, usually several hours away. There is a window of opportunity for you here, if you locate an inspector prior to the presentation of the offer then you can have the inspection completed, and you will be able to keep that condition out off the negotiating table.

This will allow you to be in a more power bargaining position in this instance.

Posted by Joel Nash

There are some 3 things that affect any home sale, price, condition and marketing. Your home sale will either be sold or not based on these issues that crop up at the outset of the sale process.

1. Price. Setting the price to high can alienate or rule out potential buyers. Homebuyers tend shop within very specific price criteria. So by having a higher price you rule out qualified buyers that would be interested in property, and the buyers that you do have interested in the home will not see the value that you do in it.
2. Condition. The condition of the home can be offset by the price. A lower price will help buyers look past the state of repair, cleanliness, and clutter in a home. However cracks in the walls, or your home being in an unclean state will drastically impact your ability to sell your home.
3. Marketing. Your ability to market your home effectively is essential to a quick sale. If nobody is aware that your home is on the market then no one will consider buying the home.

If the price is right, you address issues with your homes condition and you market your home effectively then you should have a relatively quick sale process. By setting an appropriate price in the first place you can alleviate almost all of these issues from the outset. Knowing what homes in the area are selling for will help in this regard.

Posted by Joel Nash

When you are viewing a home for sale think of the outstanding issues that are set before you. Think about what you like to see and what you don’t like to see. You should have an image of what the ideal home for you look’s like. Now look at your home with fresh eyes and see if it meets your criteria for the perfect home for you, and how you would it compare to your expectations if had to sell it tomorrow.

For most people the mental expectation they have of someone else’s home does not match the expectation they have for their own home. In your own home the crack caulking around the bathtub is not an issue, but it sends up red flags when you look at someone else’s property for sale.

It is essential that you look at your home with the same eye for detail that you use to look at homes you are about to buy. Fixing those minor issues, and taking the extra time to clean those hard to reach areas could be a difference of thousands of dollars in sale price.

Posted by Joel Nash

I have recently seen a resurgence in our time share discussion forum. The perspectives and reflection give varying points of view. Some feel that the agressive sales tactics of some resorts has tarnished the reputation of all time share resorts.

Others have described the experience as a positive and affordable method. This method provides an entry to a resort community without the responsibility of complete ownership in a specific area.

Join us in this discussion or in any of our other Real Estate related discussions.

Posted by Joel Nash

As the spring progresses into summer with are becoming more and more aware of the Real Estate Activity in our local market place. Likely you are beginning to get phone calls form agents that have worked with you in the past, and you are being inundated with pamphlets and flyers from a slew of Real Estate Sales Representatives.

It is unnecessary to become frazzled by this flurry of activity. If you are not planning on selling, or buying, a home then ignore the activity altogether. If you are planning on selling your home follow a few simple criteria.

1. Decide whether you have the time and energy to sell your home privately or whether you need an agent to facilitate the sale.
2. Set an appropriate time frame for you. Do not allow yourself to be pressured into an early sale because of a sense of market activity.
3. Make repairs prior to having anyone view your home. A good agent will base their assessment of value on the appearance of the home when they view. Must of us have very little imagination.
4. Make sure your home and yard are free and clear of clutter and debris.
5. Finally exercise patience. Patience is not only a virtue but a requirement for the sale of your home. Home sales can occur quickly, but most often take weeks and sometimes even months.

Posted by Joel Nash

I was hunting through the World Wide Web and I stumbled across a new resource for understanding Real Estate Jargon. www.realestatewords.com/ provides comprehensive definitions for a wide variety of Real Estate related terminology.

Even as a Real Estate Agent I found the interpretation of the language I use everyday useful. It both simplifies and elaborates on many of the essential realty concepts that you’ll come across in your next transaction.

Posted by Joel Nash

Some of us may have a new excuse to be late for work this year.Starting March 2007 Daylight Saving Time will be changed to reflect changes being made in the United States.The Standard North American period for Daylight Savings Time is changing to the second Sunday in March till the first Sunday of November.

The impact of the change could be felt in the work place, as many computerized devices are pre-programmed with the former Daylight Savings Time schedule.This could mean that some devices will not automatically reflect the time change.Most manufacturers of handheld and computer devices are attempting to find a solution to the problem prior to the March deadline.

Posted by Joel Nash

Just a few years ago the idea a 25 year amortization on your mortgage was the maximum anyone had ever heard of. Now people are talking about 30, 40 and 50 year amortizations. There is a shift in mentality happening all around us. People are investing in property with no intention of ever having there mortgage paid off.

Individuals are looking to future to continue to be bright for Real Estate. Values will continue to rise and they will be able to recover there original equity as the value of there property increases.

However this can become a a concerning trend if we see a sudden increase in interest rates. A 3% interest rate hike could devastate the economies of North America. This would essentially increase the interest on the average mortgage by 2/3's. Increased payments and decreased down payments mean that many of us could find ourselves unable to qualify to renegotiate the existing mortgage on our homes.

Posted by Joel Nash

New legislation in Ontario will call for a hearing on every residential tenant eviction. The Residential Tenancies Act, which took effect January 31, 2007 could mean waits of up to two months or more to settle an eviction.

Under the old system landlords served dispute forms to the tenants after filing the eviction with the Ontario Rental Housing Tribunal (OHRT). Tenants then had 5 days to sign the form and send it to the OHRT to request a hearing. If the deadline was missed then they were evicted. Under the new act, evictions automatically proceed to a hearing in front of a Tribunal panel.

This means that while the tenant awaits the hearing they can remain in there rental housing unit. This is good legislation for honest tenants with real issues. However it will give individuals that abuse the system even more leverage.

The Reality is this new legislation is neither fair or equitable for landlords. Hopefully the province will recognize the inequity in the system and will begin to balance Landlord and Tenant rights.

Posted by Joel Nash

The description really doesn't do service to the actual issue. I woke up to a freezing cold home (50 Degrees according to the thermostat). So we shivered and ran around the house trying to figure out why the furnace wasn't working. It took us a half hour to figure out that the digital thermostat needed new batteries, but we got it sorted out before any further catastrophe could occur.

This reminded me of the ice storm that effected parts of Ontario and Quebec a few years ago. During this period we had no power for several days and damage from burst water pipes was common place. A constant vigil was required to keep the pipes from freezeing. Hopefully that will never happen again to anyone.

It also got me to thinking about all those people that are avoiding the freezing weather by heading to warmer locals. There houses are often left unattended for days. If this had happened while I was away we could have come home to a huge mess as well. It is a good practice to have friend or relative to look in on your home while you are away.

Posted by Joel Nash

I often see young couples or sigle people coming to me to inquire about their first home purchase. They are nervous and full of questions. Quite often I direct them to a local mortgage broker in order to get them prequalified for their first mortgage.

However with very little credit established they can find themselves requiring a co-signer in order to be able to get a mortgage at all. For the co-signer this can create some unique risks that they need to be aware. By co-signing the mortgage committment you take ownership of the debt if the person you co-signed for defaults on the loan. This can impact your credit rating and ability to obtain additional credit.

For more questions and answers about being a co-signer on a mortgage visit our very own <a href"http://mortgagesloans.suite101.com/article.cfm/co_signing_on_a_home_loan">Mortgage and Loans</a> writer.

Posted by Joel Nash

<a href="http://mortgagesloans.suite101.com/article.cfm/8_ways_to_protect_your_identity">Identity Theft</a> is becoming more and more of an issue in Real Estate and Mortgage transactions. Information that is acquired through nefarious activities can be misused and leave you credit rating damaged and cost you more than just financial damages. Our <a href="http://mortgagesloans.suite101.com/article.cfm/8_ways_to_protect_your_identity>Mortgage and Loans</a> writer has some great tips for protecting you identity.

Posted by Joel Nash

I realize that I have been fortunate in my life. As a person I have tried to share my good fortune with family, friends and acquaintances. Over the holiday season I had an opportunity to help prepare and serve meals for the disadvantaged. I realized while serving those meals that any one us could find ourselves in a similar situation.

The people that came in were not homeless, or dirty. They were everyday people that were just going through a rough patch. The humbly accepted the offer of a meal and left us feeling like there is so much more we could do.

If each one of us could offer a little of our time, we could ease much of the hardships that individuals have to endure in our communities.