Archive for May, 2011

Houses with Income Suites in Collingwood – Part 2

Read Part 1 here. If, as mentioned in Part 1, a house had an accessory suite in existence during the Rae years (1994 to 1996), the suite MAY automatically have legal, non-confirming by-law status however, the onus is on the owner to prove it.  In addition, fire code regulations must be met.  In making an […]

Georgian Triangle Real Estate Barometer May 20-26, 2011

The following information was obtained from the MLS® statistics provided by the Georgian Triangle Real Estate Board.   They include a summary of data for the following areas only:   Collingwood, Wasaga Beach, Blue Mountain, Clearview, Grey Highlands and Meaford.   Previous week(s) are in brackets. Single Family Residential New Listings: 85 (88, 87, 77) Average List Price: […]

Costs to Build Climb as Permit Fees Rise

On May 2nd, Collingwood council passed a by-law bringing in new fees and service charges for things such as building, signage and swimming pool permits.  You can see the new rates on the Town website by clicking here.  Also, council will be adopting the new tax rates later this month. Here are links to the […]

Don’t Miss The Cattle Call!

Houses with Income Suites in Collingwood

So you want to buy a house in Collingwood with a basement apartment that you can rent out.  The income will help pay the mortgage and carry costs.  Easy plan, right?  Not so fast. Recently, I attended an excellent seminar put on by Collingwood planning officials that pointed out the considerations that buyers, renovators and […]

Georgian Triangle Real Estate Barometer May 12 – 19, 2011

The following information was obtained from the MLS® statistics provided by the Georgian Triangle Real Estate Board.   They include a summary of data for the following areas only:   Collingwood, Wasaga Beach, Blue Mountain, Clearview, Grey Highlands and Meaford. Previous week(s) are in brackets. Single Family Residential New Listings: 88 (87, 77, 62) Average List Price: […]

Interest-rate Compounding: A Devil in the Detail

by Dave Larock Would it surprise you to learn that the advertised interest rate on a variable-rate mortgage does not represent its real rate of interest? Variable-mortgage rates are quoted in simple-interest terms, but because  this rate is then compounded either monthly or semi-annually, it does not reflect your true cost of borrowing. (An interest […]

We’re Going Solar – Part 2

This is the second part of our journey to installing solar panels on our roof in Collingwood, Ontario.  Read part 1 here. After making the decision to proceed, we needed to hear back from OPA (Ontario Power Authority) to the application we had submitted.  It took 9 weeks at which point we were told we […]

Georgian Triangle Real Estate Barometer May 6 – 12, 2011

The following information was obtained from the MLS® statistics provided by the Georgian Triangle Real Estate Board. They include a summary of data for the following areas only: Collingwood, Wasaga Beach, Blue Mountain, Clearview, Grey Highlands and Meaford. Previous week(s) are in brackets. Single Family Residential New Listings: 87 (77, 62, 96) Average List Price: […]

The Power of Mortgage Prepayment

Mortgage debt can be intimidating; it is a massive personal liability that typically takes decades to pay off. During the early years of a loan, it can be downright depressing to see how much of a scheduled payment is used to cover the cost of interest, and how little of each pa yment actually goes […]

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