Comparing Mortgage Offers Online

Canada’s housing market is filled with overpriced properties, which means fewer people are interested in buying a home of their own.  But over the past year, restrictive measures from the government slowed down the number of homes that are actually selling.  As the trend continues and owners are unable to offload their specific properties, prices inevitably must come down.

Buying a home is arguably one of the most expensive investments a person can make, but unless you have a savings account stashing away the national average home price of $400,000, you will require a mortgage.  Qualifying for a mortgage requires an adequate credit score, and enough savings to put down a down payment on a home.  The quality of your credit score and the size of the down payment both contribute to the mortgage interest rate you receive.

However, the art of negotiating for the mortgage loan is different in today’s market compared to years past.  In the old days, a loan applicant would be forced to meet with a banker or a mortgage broker, and plead the case for home financing.  This process required a significant amount of time, and likely cost more money than necessary.  Many creditors prefer dictating what they feel is a reasonable mortgage interest rate, and expect you as the applicant to accept their terms.

Thankfully, technology in today’s market simplifies the application process, and can potentially save you thousands of dollars over the lifetime of your mortgage loan.  There are now websites that act as one-stop shops for comparing mortgage interest rates from some of the leading providers across Canada.  Using these sites and the mortgage calculator tools, you can find the best advertised rates within minutes.  Offers from all viable competitors are available in one place, which puts the leverage for a fair mortgage loan back in your hands.

Many Canadians don’t realize that even a fraction of a lower mortgage rate percentage can save potentially tens of thousands of dollars by the end of the loan term.  This means you make smaller monthly mortgage payments, and the interest remains significantly lower than it would be otherwise, which means you pay closer to the amount that you borrow.

Opportunities are out there to find an affordable home in Canada, and online mortgage comparison helps you acquire the best options in no time at all.

source: marriedwithdebt.com

Affordable, quality houses by Futura Homes

MANILA, Philippines - Leading property developer Filinvest has been undertaking for several decades the development of beautiful yet affordable homes that will take Filipinos a step closer to fulfilling their dream of having a home.

 The Futura Homes brand by Flinvest provides Filipinos with affordable homes they can be proud of. Says Reynaldo A. Ascaño, first vice president of Filinvest, “When we designed Futura Homes, considering our residents’ needs and budget were at the top of our minds. We wanted to make sure that the homes we offer are truly worth their hard-earned money, and ensure that they have the perfect place to jumpstart their own futures.”

True enough, for less than a million pesos and with a host of financing schemes available, Filipinos can easily realize their dream of becoming a homeowner. Futura Homes boasts modern, minimalist house models that are in step with the times.

These also make use of the buhos tibay cast-in-place construction technology, “which makes our houses stronger than those made of hollow blocks or pre-cast materials,” says Ascaño. “Because of the strong walls, the house is more resistant to natural disasters such as typhoons; as well as to common issues such as termites. Cast-in-place construction technology also provides proper insulation resulting to energy efficiency that, of course, leads to cost savings.”

Future residents have several house models to choose from. A young professional keen on making it on his own can choose the Luvina, a spacious model with a studio-type layout. Newlyweds can find the perfect starter home in the two-bedroom Styla while young families can nest in a cozy three-bedroom Moderno model, with a patio perfect for get-togethers.

Growing families can find the space they need in the Aspira home which has two storeys and three bedrooms, as well as a toilet and bath on each floor or the two-storey Contempo which features four bedrooms plus a family hall and terrace on the second floor. Other budget-friendly options include the row homes or various townhouse models.


A Filinvest development is not complete without a range of amenities that enables residents to enjoy various activities within the confines of their villages, or be near destinations for recreation. From beautiful gardens to swimming pools and clubhouses, Futura Homes lets residents revel in bonding moments with family and friends.

With a rich history spanning almost 50 years, Filinvest has built more than 135,000 homes on over 2,350 hectares of land to fulfill the dreams of Filipino families across the nation.

To know more about Futura Homes, call  850-0888 or 0917-877-0888 or visit www.filinvest.com.ph.

source: philstar.com

U.S. housing market recovering but price rises seen modest

(Reuters) – The U.S. housing market is starting to recover and home prices will see modest growth this year and next, according to a Reuters poll, which also suggested the property market would get little boost from any Fed buying of mortgage-backed debt.

Recently there have been signs the housing sector is improving, and many economists think home building will add to economic growth this year for the first time since 2005.

Indeed, 35 of 38 economists polled in the past week said the market was recovering.

But the pace of recovery is still painfully slow. Analysts think house prices in the United States, as measured by the S&P/Case Shiller composite index of 20 metropolitan areas, will rise just 1 percent this year, according to the median forecast in the Reuters poll.

That is an increase from a forecast of flat prices in a poll carried out in July, but still unlikely to keep up with inflation. Consumer prices are expected to rise 2 percent this year and in 2013.

“We still have years to go for a full recovery,” said Scott Brown, an economist at Raymond James in St. Petersburg, Florida.

The poll forecast house prices would rise 2.5 percent next year, up from a projection of 1.8 percent in the July poll.

Read full article from Reuters

source: thenichereport.com

Current home prices and demand do not point to a full recovery

Median home prices in the United States have enjoyed a steady increase for all of 2012, and in some regional housing markets investors have engaged in bidding wars over some listings in the last few months. The rising prices are certainly welcome news, but many real estate observers and analysts are warning against the conflation of a housing bottom with a market recovery.

The main cause of the 2012 run-up in home prices cannot be attributed to normal demand. Real estate investors are very certainly hungry for deals found at the bottom of the barrel, and these are the type of purchase transactions that have been predominant in certain regional markets like Phoenix and South Florida. A more pressing factor in rising home prices can be traced to the waning number of listings.

Existing Home Inventories Take a Dip

The number of previously occupied residential listings is currently the lowest on record since 2004. The number of newly constructed homes is also pretty low, but this is hardly a case of insufficient supply in the face of high demand. The current real estate market conditions are anything but normal.

On one hand, too many investors are interested in the rock-bottom deals provided by Real Estate Owned (REO) portfolios and foreclosed properties. Banks started warming up to short sales in early 2012, and they are now beginning to realize that they can realize greater profits from their distressed properties. This realization has had a bit of a cooling effect on the housing market.

On the other hand, many investors have moved away from REO and distressed properties and are now looking at the low end of the price spectrum. Home sellers are now motivated to hold off for better opportunities, and investors are willing to skip over them for the time being. This low-inventory situation is not really motivating home builders since there are many foreclosures still pending.

Not Interested or Not Able to Sell

First-time homebuyers and real estate investors seem to be the only participants in today’s housing market, but this is not the way a normal market operates. The American housing market has traditionally depended on families who wish to upgrade their living situation, to move to a bigger house or a better neighborhood with improved amenities. That vital market element is currently missing as many homeowners have been left underwater on their mortgages and unable to sell their properties.

Other homeowners are simply not motivated to sell or to move. The current household mobility is concentrated on the busy rental markets, which coincidentally are the same markets that are performing better than the rest. Until a widespread economic recovery is not experienced in the U.S., the housing market will continue producing artificial statistics.

source: thenichereport.com

When hotels are not the only option

Office manager Janice de Jesus is one ‘bakasyonista’ who likes the feel of home when she is traveling. She prefers to stay in a rental close to a wet market so she can buy her favorite vegetables and cook for her family.

For her, staying in a hotel is not always the best option. If she can find a rental that allows her the amenities of home, she’d prefer that over a stuffy hotel whose sliding doors you can’t even open.

“Usually when people plan a vacation, they assume that a hotel is the only option available to them,” she said.

An increasing number of people are turning to property rental as an alternative. Whether in the city or deep in the countryside, there are some great opportunities available to people that want to spend a little while in a house or apartment instead of a hotel.

Property rental has over the past few years become more and more popular, as people seek to engage more with the community they’re staying in. In Janice’s travels — for work or family recreation – she’s found holiday homes with their own kitchen. She opted for that during her recent visit to London weeks before the Olympics.

“We were able to visit the local markets for ingredients, which gave us a chance to mingle with the locals and find out more about their food culture,” she said. “It’s also obviously a money-saver, when you can cook your own meals instead of having to find a restaurant three times a day.”

Apartments and houses also offer more space than hotel rooms. In a hotel, you’ll normally find a bed, a table, and a chair, but a fully furnished apartment is often the same price as a hotel, and gives you much more of a sense of freedom, when you have a living area separate to the bedroom.

Obviously, there are some differences. You can’t call room service at 4 in the morning and ask them to make you a sandwich, rather, you have to make it yourself. But the independence is also part of the appeal. You can find many rental properties at this site.

For people able to work from home, a vacation in a rented property can still be productive. Many properties offer Internet access, and a holiday home in the country can be a fantastic way to work and relax at the same time.

In Janice’s recent trip to the U.K., that meant spending half a day working at the computer, and having the other half of the day to cycle through the hills, or go swimming in a nearby lake.

source: thefilam.net

Jackson siblings deny money at root of family dispute

LOS ANGELES – Three of Michael Jackson’s siblings vowed on Friday to keep up their fight to have the pop star’s will thrown out, but denied their efforts were motivated by money.

Janet, Randy and Rebbie Jackson said in an attorney’s statement issued on their behalf that their aim was only to replace the executors of their brother’s multimillion-dollar estate, who they accuse of mismanagement.

The statement followed two weeks of Jackson clan infighting, including a trip by family matriarch Katherine Jackson, 82, to Arizona in which she has said she was cut off from the outside world and was reported missing.

Jackson, who died in June 2009, appointed his mother guardian of his three children, and made the children beneficiaries of his estate. His father and eight siblings were not included.

“It is important to stress that Janet, Randy and Rebbie have questioned the validity of the will with no financial motive whatsoever – they stand to gain nothing financially by a finding that the will is invalid,” Friday’s statement said.

“What will be gained … is that the executors will be replaced and the estate and the guardianship will be managed in a manner that is in the best interests of the children,” it added.

Michael Jackson’s estate is managed by a music executive and a lawyer. According to recent court documents, the estate has earned $475 million in gross profits since the singer died of an overdose of the surgical anesthetic propofol.

The executors have said that any doubts about the validity of Jackson’s will were debunked two years ago in a legal challenge that went all the way to the California state supreme court.

But Friday’s statement said that “Janet, Randy and Rebbie will continue to press forward in their search for the truth in order to carry out the wishes of their brother Michael.”

The bitter dispute has led to Janet, Randy and Rebbie being barred from visiting their mother and Jackson’s children at their home near Los Angeles following an angry altercation there last week.

Brothers Jermaine and Tito Jackson have backed down from the public campaign to throw out the will, and appealed instead for family unity.

article source: interaksyon.com

Another Pricey Rental Rises on the Upper West Side

TWO years ago, the opening of the Corner and the Aire proved there was a healthy appetite for spare-few-expenses rentals on the Upper West Side.

Units in these buildings, which have finishes like mahogany floors and amenities like washers and dryers, leased quickly, even though rents were higher than the neighborhood average.

Now a new project is trying to replicate their successes. Developed by Friedland Properties and Rose Associates, a 20-story rental building is going up at Broadway and 77th Street. The building is now known as the Larstrand, though developers say that is just a working title.

What is settled is that the high-rise will have 181 units, from 480-square-foot studios to 1,700-square-foot three-bedrooms, said Robert A. Scaglion, a senior managing director of Rose Associates.

The $135 million project, which kicked off last summer, is not expected to be complete until the end of 2013, but developers have already chosen many finishes. Kitchens will have quartz counters, Bosch appliances and Bertazzoni ovens. Bathrooms will have Italian tile walls and floors, Kohler tubs, and under-floor radiant heat. Bath mirrors will be defoggable with the flick of a switch; a portion of mirror surface will have a television built in.

Rents for the three-bedrooms, which will be on the corners with views of Broadway, are expected to be $90 a square foot, Mr. Scaglion said, and one-bedrooms, which will average 700 square feet, could cost around $80 a square foot. That comes out to around $13,000 and $4,750 per month, respectively. (Twenty percent of the units will be offered below market rents for qualifying tenants.)

The average rent in May for a one-bedroom on the Upper West Side was $3,471 a month, or about $60 a square foot, according to MNS, a real estate brokerage.

To help justify these prices, and to compete with other buildings, the Larstrand developers are putting extra effort into the common areas. The 4,800-square-foot roof deck, for instance, will have an outdoor movie theater, which is something the Corner did not offer, Mr. Scaglion said. The theater could be the scene of movie-night parties, he added.

“The evolution of the high-end luxury building is that residents are now requiring special programming in these kinds of spaces,” said Mr. Scaglion, who also marketed and leased the Aire, at 200 West 67th Street. in addition, Rose handled the marketing for the Corner, at 200 West 72nd Street.

The L-shaped Larstrand site takes up the entire eastern side of Broadway between 77th and 78th Streets (the residential address is 227 West 77th Street). It will have 40,000 square feet of retail space on the ground floor, as well as two lower levels. Also on the site are two other buildings, which will be preserved and renovated. So far, CVS has leased a 9,800-square-foot store, a company spokesman said. The two-story buildings that used to line the block were home to a diner, a pizza place and a taekwondo school, as well as the popular Asian restaurant Ruby Foo’s, which closed its location there in 2009.

For Friedland, which did not respond to a request for an interview, No. 227 continues a recent push into residential development. The company, led by the brothers Lawrence and Melvin Friedland, owns more than 100 buildings on the East Coast, according to its Web site, including several in the area. But brokers said the firm had not built a major new one until the 22-story Melar went up at 250 West 93rd Street in 2007.

The Melar has 143 units, ranging in size from studios to three-bedrooms, though rents, at an average of $70 a square foot, are below what No. 227 plans to charge, Mr. Scaglion said, because the Melar is north of Broadway’s liveliest shopping district.

One factor working in the Larstrand’s favor is that it will come to market with little in the way of competition, since many development plans were deferred during the recession, said Andrew Barrocas, the chief executive of MNS. With limited inventory and strong demand, vacancy rates have fallen into the low single digits, so rental projects that open in the next two years are in a great position, he said. “I was blown away by what the rents ended up being for the Corner,” Mr. Barrocas said, “and I expect this building to do just as well.”

source: nytimes.com