Looking to Buy in Fort Erie? Where to Stay When Here!

One of the more pleasant ways to learn information about a potential new home-town, is to plan to stay for several days at one of Greater Fort Erie’s many Bed and Breakfast Inns. Here are just some Fort Erie Bed & Breakfast Inn options:

Lakeshore Bed and Breakfast 
667 Lakeshore Road, Fort Erie, ON L2A 1B8 • (289) 320-9907
The Cobbled Path Bed And Breakfast
3738 W Main St, Stevensville, ON L0S 1S0 • (905) 382-1963
Yellow Door Bed and Breakfast 
254 Elmwood Ave, Crystal Beach, ON L0S 1B0 • (289) 377-8409

House hunting can be daunting. You will have seen several homes, gathered information, and your brain will feel as if it is on overload. Retreating to a quiet comfortable place to sort through all that you have discovered is the kindest way to begin the task of elimination.

After a few days you may have found some very pleasing options.

Many local details are seldom found during internet searches but people that live in the area enjoy sharing their town with others. Over a delicious home cooked breakfast, you may discover that your friendly innkeeper may have insights that might possibly influence your decisions.

Meanwhile, what could have been an arduous task has become a happy experience.

New Price of $435,000 on 12 Audrey Street in St. Catharines

HOT NEW PRICE
 
12 Audrey Street in St. Catharines is NOW $435,000!
 
Looking for a great 4 bedroom family home in the north end of St. Catharines? This solid bi-level home on a very quiet street in a lovely cul-de-sac. Situated on a large pie shaped lot, this home offers 3 bedrooms upstairs, bamboo hardwood flooring, living room and separate dining room. The full basement offers an extra bedroom, 3 piece bathroom & finished recreation room and den. This has potential for a great in-law situation with a walk-out to the backyard.
 
For more details or to book a showing, click below
 
https://www.realtor.ca/Residential/Single-Family/19479945/12-AUDREY-Street-St-Catharines-Ontario-L2N1G4

Junk in your Trunk Sale in Fort Erie

Mark your calendars for the upcoming Junk in your Trunk event happening on Saturday May 26th, 2018 on Jarvis Street in Fort Erie, Ontario.

Individuals are welcome to sign up to sell their belongings out of their trunks on event day. Registration will be online and set up starts at 7:00am. Shoppers are welcome to come out between 8:00am-12:00pm.

There will also be donations taken for the Fort Erie SPCA.

 

Fort Erie Firefighters – Door to Door Program

Attention all Fort Erie Residents. Our local firefighters will be going door to door starting April 7th, 2018 to teach us the safety of working smoke alarms & how they save lives. Make sure yours are up to date & working!

Life’s a Beach… Some of Ontario’s Best Beaches to Visit

With the nice weather around the corner, are you planning your summer vacations?

Make sure to check out some of Ontario’s Best Beach Towns at https://www.narcity.com/ca/on/toronto/travel/8-ontario-beach-towns-you-must-road-trip-to-this-summer

Yes, Crystal Beach is on the list!

Hot NEW LISTING at 3777 Mathewson Avenue in Crystal Beach

Our newest listing at 3777 Mathewson Avenue in Crystal Beach, Ontario. Listed for $489,900.00.

Come check out this custom build bungalow located in a quiet neighbourhood in Crystal Beach. Enjoy sitting on your large covered front porch, while enjoying morning coffee. Home has open floor design. Spacious kitchen with island and patio doors leading to back deck. Relax in your master suite with walk-out and private bath. Full finished basement with recreation room, gas fireplace, 3 piece bathroom and bedroom.

For your private showing, please feel free to call/ text me at 905-651-3279.

3777 Mathewson Avenue, Home for Sale in Crystal Beach, Ontario, Ray Rosettani, REMAX Niagara

Mortgage Rates to Increase- What Does that Mean?

Mortgage rates are on the rise… What does this mean to you as a Home Owner?

The Bank of Canada has announced that the interest rate of 0.5 per cent will now be increased to 0.75 per cent.

Are you someone who has a mortgage or hoping to get one soon? Global News helps break it down for you and how this increase will affect a current or upcoming mortgage.

First Global News explain the different types of mortgages and how to distinguish what you may have or are in the market for.

Variable-rate mortgages: If you have a variable-rate mortgage, this calculator tells you how your payments will change when the Bank of Canada hikes rates. Today, rates went up by 0.25 of a percentage point. Many economists expect the central bank to raise rates by a full percentage point (up to 1.5 per cent) by the end of 2018.

Lenders don’t always mirror the BoC exactly. For example, the last time the central bank made a move, in July 2015, it cut rates by 0.25 of a percentage point, but mortgage lenders cut variable-rate mortgages by only 0.15 of a percentage point. “With an increase, however, it’s most likely the full amount will be passed along to consumers,” said to James Laird, co-founder of RateHub.ca and president of CanWise Financial. This is the working assumption of this calculator.

For highly anticipated interest rate changes, such as today’s hike, lenders generally adjust their variable rates within hours of the Bank of Canada announcement, said Laird. Variable-rate mortgage holders, in other words, will likely be affected immediately.

Fixed-rate mortgages: Most Canadians have fixed-rate mortgages with interest rates that hold steady through the length of the loan term. If that’s you, you can still use this calculator to get an idea of how your payments might change once your mortgage is up for renewal. However, keep in mind that if you have a five-year mortgage that will be up for renewal soon, today’s rates might still be lower than the rate you locked into five years ago.

Prospective Home Buyers: If you’ve been eyeing a certain fixed mortgage rate over the past few weeks, today’s interest rate increase might not affect you. Most fixed-rates have already increased in anticipation of today’s hike, which was largely anticipated by markets. In all likelihood, the rates you’ve been seeing lately are the rates you’ll be able to access in the next little while. However, you can still use the calculator to see what your monthly payments might look like if you were to get a mortgage after the Bank of Canada raises rates again, which might happen as soon as this fall.

Amortization period — this is the length of time it will take you to pay off your mortgage in full. In Canada, most mortgages have a 25-year amortization. This is different from your mortgage term, the length of time you commit to a specific rate, lender and loan conditions. The typical mortgage term in Canada is 5 years.

Payment frequency — most people pay their mortgage once a month. “Semi-monthly” means you pay twice a month, for a total of 24 yearly payments. “Bi-weekly” means you pay every two weeks, for a total of 26 payments a year. “Accelerated bi-weekly” means you pay the same amount you’d be paying with a semi-monthly option but make 26 rather than 24 payments per year, which allows you to pay down your mortgage faster and save on interest.

If you have a variable-rate mortgage

Some 30 per cent of Canadians have a mortgage with a so-called variable-rate, which moves up or down along with the general level of interest rates in the economy. If the The Bank of Canada raises rates, homeowners with variable-rate mortgages will see their monthly mortgage payments go up.

  • How much more will you be paying? Economists expect the BoC to hike rates slowly, by increments of 0.25 of a percentage point. Let’s look at the example of a homeowner with a home priced at $750,000, a minimum down payment of 10 per cent, and a 5-year variable-rate mortgage with an interest rate of 1.75 per cent and 25-year amortization. The total monthly mortgage payment for this homeowner right now would be $2,864, according to the mortgage payment calculator at RateHub, a rates comparison site. With an increase of a quarter of a percentage point that monthly payment would go up to $2,947, or $83 more per month. Now let’s look at what might happen between now and the end of next year. RBC expects the The Bank of Canada’s key interest rate to climb by a full percentage point (from 0.5 per cent to 1.5 per cent) by the end of 2018. Under that scenario, the monthly payments in our example would rise to $3,205, or $341 more per month.
  • Does it make sense to lock in to a fixed-rate mortgage? Variable-rate mortgages come with the option of switching to a fixed rate during the term of the loan. Doing so might buy you peace of mind if the thought of rising interest rates keeps you up at night. But locking in has a cost. “Conversion rates are never as aggressively priced as those offered to borrowers who have yet to walk through the lender’s front door,” David Larock, a Toronto-based independent mortgage broker recently wrote in a post weighing the pros and cons of fixed- and variable-rate mortgages. Some lenders also demand that borrowers locking in sign up for a five-year term, no matter what the remaining term of their current loan is. If you do the math, you might find that you’re better off sticking with your variable rate. When an interest rate increase appears close, “everybody panics and rushes to lock in, but those knee-jerk reactions aren’t generally prescient over time,” Larock told Global News. Though it’s impossible to know how interest rates will move, Larock doesn’t believe they’ll go very far in the short term. John Pasalis, president of Toronto-based brokerage Realosophy, agrees: “No one really expects rates to skyrocket.”
  • What about breaking your variable-rate mortgage and getting a better fixed-rate loan with another lender? Unlike fixed-rate mortgages, variable-rate mortgages typically carry a relatively low penalty for breaking the loans: Only three months’ worth of interest, according to Larock. Variable-rate borrowers worried about interest rates could quit their lender and seek out a fixed-rate mortgage with a lower rate than the conversion rate in their current loan. Switching mortgages, though, involves a lot of paperwork and legal fees, noted Larock. And homeowners ditching their variable-rate loan would likely only be eligible for rates offered to homeowners refinancing their mortgage, which are generally higher than the rates offered to homebuyers, Larock added. “The competition for the [mortgage] refinance business isn’t as strong,” he told Global News.

If you have a fixed-rate mortgage

Over 65 per cent of Canadians have fixed-rate mortgages, which, as the name implies, remain fixed through the term of the loan. Here’s what these homeowners need to know:

  • An interest rate hike affects fixed-rate mortgages, too. Fixed-rate mortgages tend to follow bond yields, the amount of return investors realize on bonds. But investors’ expectations about what the The Bank of Canada will do with its key rate affect bond yields. Therefore, indirectly, an interest rate hike has implications for fixed-rate mortgages, too. “The mere mention of a rate hike had an effect on bond yields, already resulting in an increase in the popular 5-year fixed rate mortgages over the last month,” James Laird, co-founder RateHub.ca and president of CanWise Financial mortgage brokerage, said in a statement. This means that most Canadians with a fixed-rate mortgage will likely have to pay a higher interest rate when they refinance their loan.
  • Canadians who are about to refinance a five-year fixed-term mortgage may have a pleasant surprise. Although rates on fixed-rate mortgages are headed up, they are still significantly lower than they were five years ago. Therefore, Canadians with a five-year mortgage coming up for renewal in the next little while may find that their new rate is lower.

If you’re about to get a new mortgage

If you’re house-hunting right now, keep in mind the following:

  • Think about getting pre-approved for a five-year mortgage. “Anyone currently shopping for a home should get a pre-approval, which guarantees today’s fixed rates for 120 days,” said Laird.
  • The stress-test for Home Buyers will likely remain the same. Home buyers applying for a variety of variable- and fixed-rate mortgages are stress-tested against the The Bank of Canada’s  qualifying rate of 4.64 per cent, which is much higher than the mortgage rates most Canadians pay. The Bank of Canada’s posted rate is the mode (i.e. the most common occurring number) of the five-year fixed mortgage rates advertised by Canada’s six largest banks. But those advertised rates bear “very little correlation” with the discounted mortgage rates banks are actually offering customers, said Larock. Banks generally use their advertised rates to calculate penalties for borrowers who break their mortgage, he added. Even if banks are hiking the rate of their fixed-rate mortgages, they’re unlikely to adjust their advertised rates, Larock told Global News. As a result, the stress-test benchmark for homebuyers is likely to remain the same.

*Information was used from http://globalnews.ca/news/3581766/mortgage-calculator-canada-interest-rate-hike/

 

Why Sell with Us? – SellingFortErie.com Team

Selling your home is one of the biggest and most important decisions in your lifetime. The SellingFortErie team has more than 80+ years of knowledge in the Real Estate industry. Our team consists of 4 full time Realtors and a full time team assistant. We are very passionate about our jobs and this can be seen in our sales and our return customers.

Here is what the SellingFortErie team does differently, that sets us apart from other Realtors in the Niagara Region:

  • The best customer service, keeping our clients involved throughout the whole process
  • Provide clients with current comparables to help establish a competitive asking price and get top dollar from their homes
  • Uploading your listing to not only Realtor.ca, but to many 3rd party websites, allowing full exposure and lead generation for your property
  • Marketing your property through many different Social Media applications (Facebook, Instragram, Twitter, YouTube and Google+)
  • Seller will be able to access their “Seller Portal” where they can log into 24/7 to view many aspects of their property, such as; showing feedback, notes about their property & how many views they have received
  • We advertise in the paper (Niagara Falls Review & Fort Erie Times), radio advertisement (GiantFM 91.7 & Country89), and most importantly our internet Target Marketing
  • Weekly and/or monthly Real Estate market update statistics

With that being said, if you list with the SellingFortErie team you will not only have 1 agent working for you but a team behind that agent, making sure every buyer lead will not go unnoticed and ensure a quick response to those leads, because Customer Service is what we do.  Our whole team is proud to call Niagara our home and we look forward to SELLING everyone on it too!

Fort Erie Kinsmen Pool- 2017 Season

Fort Erie Kinsmen Pool- Swimming Lessons, Public Swim, Family Swim and Adult Swim

Cool of this summer at the Fort Erie Kinsmen Pool!

The Fort Erie Kinsmen Pool is located at 100 Gilmore Road in Fort Erie, Ontario. The pool is now open for the public to come out and enjoy! Pool has open swim Monday- Friday between the hours of 12:30pm-4:30pm and Saturday between 1:00pm-4:00pm.

Family Swim is Monday- Friday between 12:00pm-12:30pm. Adult Swim is also Monday- Friday but between the hours of 11:30am-12:00pm.

The Boys and Girls Club of Niagara are providing swimming lessons as well. For registration or further questions, contact them at 289-697-2476 or visit www.BGCN.ca.